SEC 13F Intelligence

Managers / Q1 2022 · view latest →

Arbiter Partners Capital Management LLC

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

Reported Value
$190M
Q1 2022
Positions
33
Filings on Record
33
2019–present window
Filed
May 16, 2022
original filing

Summary

Arbiter Partners Capital Management LLC reported $190M in U.S.-listed holdings across 33 positions for Q1 2022.

Its largest position, COWNEUR, represents 13.5% of the portfolio.

Compared with Q4 2021, the fund opened 4 new positions and exited 7.

Portfolio Metrics

Turnover
+4.7%
vs prior filed quarter
Top-10 Concentration
+60.8%
share of reported value
Largest Position
+13.5%
Cowen Inc A
New / Exited
4 / 7
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: 90.6%Other: 8.4%ETP: 0.9%REIT: 0.1%
  • Common Stock · 90.6% · $172M
  • Other · 8.4% · $16M
  • ETP · 0.9% · $2M
  • REIT · 0.1% · $206,000

Quarter-over-Quarter Changes full breakdown →

vs Q4 2021 (amended baseline)

IssuerMoveShare ΔShares nowValue ΔValue now
WRKUSDWESTROCK CONEW+203.5K203.5K+$10M$10M
FCNCAFIRST CITIZENS BCSHS -CL ANEW+5.0K5.0K+$3M$3M
SIRIUSPOINT LTDNEW+162.0K162.0K+$1M$1M
CPTAUSDLOGAN RIDGE FINANCE CORPNEW+16.0K16.0K+$360,000$360,000
TRVCCITIGROUP INCSOLD OUT−100.0K0−$6M$0
CITUSDCIT GROUP INCSOLD OUT−81.0K0−$4M$0
SIRIUSPOINT LTDSOLD OUT−165.0K0−$1M$0
LMTLOCKHEED MARTIN CORPSOLD OUT−3.1K0−$1M$0

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

Holdings — Q1 2022

28 positions
Export to Excel
#IssuerClass% PortfolioValue ↓Shares
1COWNEURCOWEN INC - Ahistory →COM13.49%$26M947.6K
2SNDASONIDA SENIOR LIVING INChistory →COM10.71%$20M615.7K
3GEF/BGREIF INC-CL Bhistory →COM8.49%$16M253.5K
4LIBERTY LATIN AMERIC-CL CCOM6.91%$13M1.37M
5JXNJACKSON FINANCIAL INC-Ahistory →COM5.77%$11M248.4K
6WRKUSDWESTROCK COhistory →COM5.03%$10M203.5K
7RJR1STEREOTAXIS INChistory →COM4.45%$8M2.27M
8LEN/BLENNAR CORP - B SHShistory →COM2.91%$6M81.1K
9NWLIEURNATIONAL WESTERN LIFE GROU-Ahistory →COM1.94%$4M17.6K
10SPWHSPORTSMAN'S WAREHOUSE HOLDINhistory →COM1.84%$4M327.8K
11LNCLINCOLN NATIONAL CORPhistory →COM1.78%$3M52.0K
12FCNCAFIRST CITIZENS BCSHS -CL Ahistory →COM1.76%$3M5.0K
13IPINTERNATIONAL PAPER COhistory →COM1.45%$3M60.0K
14GEGGREAT ELM GROUP INChistory →COM1.09%$2M1.15M
15SIRIUSPOINT LTDCOM0.64%$1M162.0K
16BCICPORTMAN RIDGE FINANCE CORPCOM0.58%$1M46.0K
17DVNDEVON ENERGY CORPCOM0.57%$1M18.4K
18FIRST FINANCIAL NORTHWESTCOM0.42%$802,00046.9K
19SENEBSENECA FOODS CORP - CL BCOM0.38%$719,00013.8K
20KFFBKENTUCKY FIRST FEDERAL BANCOCOM0.26%$503,00068.3K
21COMMUNITY WEST BANCSHARESCOM0.26%$486,00034.7K
22CPTAUSDLOGAN RIDGE FINANCE CORPCOM0.19%$360,00016.0K
23NODKNI HOLDINGS INCCOM0.18%$346,00020.4K
24BATLBATTALION OIL CORPCOM0.18%$334,00018.0K
25TRCTEJON RANCH COCOM0.16%$298,00016.3K
26ICC HOLDINGS INCCOM0.15%$289,00017.0K
27CLPRCLIPPER REALTY INCCOM0.11%$206,00022.7K
28REVOLUTION HEALTHCARE -CW28WTS0.00%$8,00017.8K

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 ↗.