SEC 13F Intelligence

Managers / Q3 2021 · view latest →

Arbiter Partners Capital Management LLC

CIK 0001513193 · 530 FIFTH AVENUE, 20TH FLOOR, NEW YORK, NY, 10036 · 212-650-4660

Reported Value
$1.3B
Q3 2021
Positions
71
includes revealed positions
Filings on Record
33
2019–present window
Filed
Nov 15, 2021
original filing

Summary

Arbiter Partners Capital Management LLC reported $1.3B in U.S.-listed holdings across 71 positions for Q3 2021.

Its largest position, COWNEUR, represents 2.5% of the portfolio.

Compared with Q2 2021, the fund opened 5 new positions and exited 2.

Portfolio Metrics

Turnover
+0.7%
vs prior filed quarter
Top-10 Concentration
+14.0%
share of reported value
Largest Position
+2.5%
Cowen Inc A
New / Exited
5 / 2
positions this quarter

Methodology: turnover is min(value bought, value sold) ÷ average reported value across the two quarters — value-based, so market moves inflate it slightly versus a share-based measure. Concentration and largest position are shares of the filing’s total reported value, options excluded. New/exited counts compare against the prior filed quarter. All figures derive solely from the fund’s 13F filings.

Reported Value by Quarter

13F Reported Value
Q4 ’18: $895MQ4 ’18Q1 ’19: $495MQ2 ’19: $978MQ3 ’19: $549MQ4 ’19: $689MQ4 ’19Q1 ’20: $672MQ2 ’20: $1.3BQ3 ’20: $2.2BQ4 ’20: $831MQ4 ’20Q1 ’21: $1.4BQ2 ’21: $601MQ3 ’21: $1.3BQ4 ’21: $821MQ4 ’21Q1 ’22: $190MQ2 ’22: $161MQ3 ’22: $157MQ4 ’22: $116MQ4 ’22Q1 ’23: $107MQ2 ’23: $93MQ3 ’23: $78MQ4 ’23: $88MQ4 ’23Q1 ’24: $79MQ2 ’24: $100MQ3 ’24: $113MQ4 ’24: $162MQ4 ’24Q1 ’25: $138MQ2 ’25: $114MQ3 ’25: $167MQ4 ’25: $205MQ4 ’25Q1 ’26: $175Mfilingsflow.com

Portfolio Composition

By security type
Common Stock: 96.6%Other: 3.3%REIT: 0.0%
  • Common Stock · 96.6% · $1.2B
  • Other · 3.3% · $42M
  • REIT · 0.0% · $368,000

Quarter-over-Quarter Changes full breakdown →

vs Q2 2021 (amended baseline)

IssuerMoveShare ΔShares nowValue ΔValue now
JXNJACKSON FINANCIAL INC-AREVEALEDNEW+228.0K228.0K+$6M$6M
BCICPORTMAN RIDGE FINANCE CORPREVEALEDNEW+128.5K128.5K+$3M$3M
REVOLUTION HEALTHCARE ACQU-AREVEALEDNEW+177.8K177.8K+$2M$2M
NODKNI HOLDINGS INCREVEALEDNEW+21.4K21.4K+$376,000$376,000
REVOLUTION HEALTHCARE -CW28REVEALEDNEW+35.6K35.6K+$32,000$32,000
LEN/BLENNAR CORP - B SHSREVEALEDADDED+74.9K145.7K+$6M$11M
TSLATESLA INCREVEALEDADDED+628.2K1.26M+$547M$974M
COWNEURCOWEN INC - AREVEALEDADDED+932.7K1.87M+$26M$64M

Value changes conflate price moves with buying and selling — share changes are the real signal. Share counts are not split-adjusted.

Holdings — Q3 2021REVEALED

22 positions
Export to Excel
#IssuerClass% PortfolioValue ↓Shares
1COWNEURCOWEN INC - AREVEALEDhistory →COM5.05%$64M1.87M
2LIBERTY LATIN AMERIC-CL CREVEALEDCOM2.78%$35M2.68M
3GEF/BGREIF INC-CL BREVEALEDhistory →COM2.74%$35M535.2K
4RJR1STEREOTAXIS INCREVEALEDhistory →COM1.93%$24M4.54M
5WRKUSDWESTROCK COREVEALEDhistory →COM1.77%$22M449.7K
6SNDACAPITAL SENIOR LIVING CORPREVEALEDhistory →COM1.64%$21M591.6K
7LEN/BLENNAR CORP - B SHSREVEALEDhistory →COM0.89%$11M145.7K
8CITUSDCIT GROUP INCREVEALEDCOM0.66%$8M162.0K
9LNCLINCOLN NATIONAL CORPREVEALEDCOM0.65%$8M120.0K
10IPINTERNATIONAL PAPER COREVEALEDCOM0.53%$7M120.0K
11JXNJACKSON FINANCIAL INC-AREVEALEDCOM0.47%$6M228.0K
12ANAT1USDAMERICAN NATIONAL GROUP INCREVEALEDCOM0.46%$6M30.8K
13NWLIEURNATIONAL WESTERN LIFE GROU-AREVEALEDCOM0.45%$6M27.0K
14CSTRUSDCAPSTAR FINANCIAL HOLDINGS IREVEALEDCOM0.41%$5M244.3K
15GEGGREAT ELM GROUP INCREVEALEDCOM0.41%$5M2.30M
16BCICPORTMAN RIDGE FINANCE CORPREVEALEDCOM0.25%$3M128.5K
17SIRIUSPOINT LTDREVEALEDCOM0.19%$2M256.7K
18LMTLOCKHEED MARTIN CORPREVEALEDCOM0.17%$2M6.2K
19REVOLUTION HEALTHCARE ACQU-AREVEALEDCOM0.14%$2M177.8K
20FIRST FINANCIAL NORTHWESTREVEALEDCOM0.12%$2M93.8K
21DVNDEVON ENERGY CORPREVEALEDCOM0.10%$1M36.9K
22KFFBKENTUCKY FIRST FEDERAL BANCOCOM0.04%$488,00068.3K

Filing History

QuarterReported ValuePositionsFiledTypeLinks
Q1 2026$175M45May 12, 202613F-HRchanges · EDGAR ↗
Q4 2025$205M49Feb 12, 202613F-HRchanges · EDGAR ↗
Q3 2025$167M40Nov 12, 202513F-HRchanges · EDGAR ↗
Q2 2025$114M30Aug 14, 202513F-HRchanges · EDGAR ↗
Q1 2025$138M34May 13, 202513F-HRchanges · EDGAR ↗
Q4 2024$162M29Feb 13, 202513F-HRchanges · EDGAR ↗
Q3 2024$113M28Nov 13, 202413F-HRchanges · EDGAR ↗
Q2 2024$100M33Aug 13, 202413F-HRchanges · EDGAR ↗
Q1 2024$79M34May 15, 202413F-HRchanges · EDGAR ↗
Q4 2023$88M45Feb 12, 202413F-HRchanges · EDGAR ↗
Q3 2023$78M45Nov 13, 202313F-HRchanges · EDGAR ↗
Q2 2023$93M45Aug 14, 202313F-HRchanges · EDGAR ↗
Q1 2023$107M43May 10, 202313F-HRchanges · EDGAR ↗
Q4 2022$116M47Feb 14, 202313F-HRchanges · EDGAR ↗
Q3 2022$157M39Nov 14, 202213F-HRchanges · EDGAR ↗
Q2 2022$161M33Aug 15, 202213F-HRchanges · EDGAR ↗
Q1 2022$190M33May 16, 202213F-HRchanges · EDGAR ↗
Q4 2021$821M36Feb 14, 202213F-HRchanges · EDGAR ↗
Q3 2021REVEALED$1.3B71Nov 15, 202113F-HRchanges · EDGAR ↗
Q2 2021$601M33Aug 16, 202113F-HRchanges · EDGAR ↗
Q1 2021$1.4B43May 17, 202113F-HRchanges · EDGAR ↗
Q4 2020$831M46Feb 16, 202113F-HRchanges · EDGAR ↗
Q3 2020$2.2B50Nov 16, 202013F-HRchanges · EDGAR ↗
Q2 2020$1.3B49Aug 14, 202013F-HRchanges · EDGAR ↗
Q1 2020$672M52May 15, 202013F-HRchanges · EDGAR ↗
Q4 2019$689M43Feb 14, 202013F-HRchanges · EDGAR ↗
Q3 2019$549M51Nov 14, 201913F-HRchanges · EDGAR ↗
Q2 2019REVEALED$978M91Aug 14, 201913F-HRchanges · EDGAR ↗
Q1 2019$495M46May 15, 201913F-HRchanges · EDGAR ↗
Q4 2018$895M57Feb 14, 201913F-HRchanges · EDGAR ↗

Other Included Managers

This filing reports holdings on behalf of 4 additional managers.

  • Broken Clock Management LLC
  • Arbiter Partners QP LP
  • Arbiter Partners LP
  • Arbiter Partners Offshore LTD

13F filings are due up to 45 days after quarter end, so holdings shown here lag the fund’s current book. Source: original SEC filing on EDGAR ↗.