SEC 13F Intelligence

Managers / Q4 2025 · view latest →

Arbiter Partners Capital Management LLC

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

Reported Value
$205M
Q4 2025
Positions
49
Filings on Record
33
2019–present window
Filed
Feb 12, 2026
original filing

Summary

Arbiter Partners Capital Management LLC reported $205M in U.S.-listed holdings across 49 positions for Q4 2025.

The portfolio is heavily concentrated: GRAL alone accounts for 43.2% of reported value.

Compared with Q3 2025, the fund opened 11 new positions and exited 2.

Portfolio Metrics

Turnover
+4.8%
vs prior filed quarter
Top-10 Concentration
+73.1%
share of reported value
Largest Position
+43.2%
Grail
New / Exited
11 / 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: 87.5%Other: 5.2%REIT: 3.7%ADR: 3.6%
  • Common Stock · 87.5% · $180M
  • Other · 5.2% · $11M
  • REIT · 3.7% · $7M
  • ADR · 3.6% · $7M

Quarter-over-Quarter Changes full breakdown →

vs Q3 2025 (amended baseline)

IssuerMoveShare ΔShares nowValue ΔValue now
OPRTOPORTUN FINANCIAL CORPNEW+141.1K141.1K+$746,467$746,467
AVBCAVIDIA BANCORP INCNEW+32.8K32.8K+$551,368$551,368
ELEELEMENTAL ROYALTY CORPNEW+27.0K27.0K+$458,750$458,750
LESLLESLIE'S INCNEW+237.6K237.6K+$392,101$392,101
GROYGOLD ROYALTY CORPNEW+78.6K78.6K+$317,544$317,544
MLCIMOUNT LOGAN CAPITAL INCNEW+35.5K35.5K+$292,919$292,919
OLNOLIN CORPNEW+12.9K12.9K+$268,707$268,707
MTAMETALLA ROYALTY & STREAMINGNEW+34.0K34.0K+$264,520$264,520

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

Holdings — Q4 2025

43 positions
Export to Excel
#IssuerClass% PortfolioValue ↓Shares
1GRALGRAIL INChistory →COM43.20%$89M1.04M
2GEF/BGREIF INC-CL Bhistory →COM7.17%$15M197.0K
3CRBGCOREBRIDGE FINANCIAL INChistory →COM3.97%$8M270.1K
4SHGSHINHAN FINANCIAL GROUP-ADRhistory →COM3.61%$7M138.2K
5RJR1STEREOTAXIS INChistory →COM3.23%$7M2.88M
6SNDASONIDA SENIOR LIVING INChistory →COM2.88%$6M182.8K
7ARVNARVINAS INChistory →COM2.62%$5M452.8K
80HQKCBL & ASSOCIATES PROPERTIEShistory →COM2.17%$4M120.2K
9GNWGENWORTH FINANCIAL INChistory →COM2.15%$4M487.4K
10SIRIUSPOINT LTDCOM2.14%$4M200.8K
11OPYOPPENHEIMER HOLDINGS-CL Ahistory →COM1.94%$4M55.0K
12LIBERTY LATIN AMERIC-CL CCOM1.90%$4M523.5K
13GOOGLALPHABET INC-CL Ahistory →COM1.83%$4M12.0K
14ODVOSISKO DEVELOPMENT CORPhistory →COM1.60%$3M937.9K
15TFPMTRIPLE FLAG PRECIOUS METhistory →COM1.17%$2M72.0K
16VETVERMILION ENERGY INChistory →COM1.08%$2M266.7K
17MTGMGIC INVESTMENT CORPhistory →COM1.05%$2M74.0K
18NAVINAVIENT CORPCOM0.98%$2M155.1K
19TBNTAMBORAN RESOURCES CORPCOM0.76%$2M57.2K
20NAVIOS MARITIME PARTNERS LPCOM0.63%$1M24.8K
21CWBCCOMMUNITY WEST BANCSHARESCOM0.48%$986,94043.9K
22WEATHERFORD INTERNATIONAL PLCOM0.38%$782,60010.0K
23OPRTOPORTUN FINANCIAL CORPCOM0.36%$746,467141.1K
24NODKNI HOLDINGS INCCOM0.33%$683,51451.4K
25VOXRVOX ROYALTY CORPCOM0.28%$577,901121.9K
26AVBCAVIDIA BANCORP INCCOM0.27%$551,36832.8K
27MRTMARTI TECHNOLOGIES INCCOM0.27%$544,946229.9K
28LEN/BLENNAR CORP - B SHSCOM0.26%$535,4305.6K
29ELEELEMENTAL ROYALTY CORPCOM0.22%$458,75027.0K
30LESLLESLIE'S INCCOM0.19%$392,101237.6K
31OABIOMNIAB INCCOM0.17%$356,282192.6K
32DVNDEVON ENERGY CORPCOM0.16%$329,6709.0K
33GROYGOLD ROYALTY CORPCOM0.15%$317,54478.6K
34MLCIMOUNT LOGAN CAPITAL INCCOM0.14%$292,91935.5K
35OLNOLIN CORPCOM0.13%$268,70712.9K
36MTAMETALLA ROYALTY & STREAMINGCOM0.13%$264,52034.0K
37BURFORD CAPITAL LTDCOM0.12%$240,84027.0K
38RITMRITHM CAPITAL CORPCOM0.11%$218,00020.0K
39TRCTEJON RANCH COCOM0.11%$216,71113.7K
40SENEASENECA FOODS CORP - CL ACOM0.10%$203,4491.8K
41BTOB2GOLD CORPCOM0.05%$112,75025.0K
42CLPRCLIPPER REALTY INCCOM0.04%$86,40122.6K
43LRELEAD REAL ESTATE CO LTDCOM0.01%$29,03718.5K

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 2 additional managers.

  • Broken Clock Management LLC
  • Arbiter Partners QP LP

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 ↗.