APCM

Arbiter Partners Capital Management’s Lake Shore Bancorp LSBK Stock Holding History

Quarter	Market Value	Status	Shares	Shares Change %	Trade Value	Portfolio Weight	Portfolio Position
2019 Q4	–	Sell	-86,721	Closed	-$1.26M	–	42
2019 Q3	$1.26M	Sell	86,721 -84,750	-49%	-$1.23M	0.23%	15
2019 Q2	$2.56M	Sell	171,471 -1,935	-1%	-$28.9K	0.5%	11
2019 Q1	$2.74M	Sell	173,406 -1,200	-0.7%	-$19K	0.55%	11
2018 Q4	$2.63M	Hold	174,606	–	–	0.29%	14
2018 Q3	$2.88M	Sell	174,606 -5,154	-3%	-$85K	0.29%	17
2018 Q2	$3.08M	Sell	179,760 -11,169	-6%	-$192K	0.31%	18
2018 Q1	$3.2M	Sell	190,929 -9,948	-5%	-$167K	0.39%	18
2017 Q4	$3.45M	Hold	200,877	–	–	0.38%	19
2017 Q3	$3.21M	Hold	200,877	–	–	0.36%	23
2017 Q2	$3.16M	Hold	200,877	–	–	0.39%	24
2017 Q1	$3.13M	Hold	200,877	–	–	0.4%	20
2016 Q4	$3.27M	Hold	200,877	–	–	0.55%	18
2016 Q3	$2.72M	Hold	200,877	–	–	0.32%	16
2016 Q2	$2.62M	Hold	200,877	–	–	0.34%	23
2016 Q1	$2.67M	Hold	200,877	–	–	0.5%	24
2015 Q4	$2.69M	Hold	200,877	–	–	0.34%	29
2015 Q3	$2.71M	Hold	200,877	–	–	0.27%	26
2015 Q2	$2.7M	Hold	200,877	–	–	0.24%	26
2015 Q1	$2.76M	Hold	200,877	–	–	0.24%	24
2014 Q4	$2.72M	Buy	200,877 +4,200	+2%	+$57K	0.25%	29
2014 Q3	$2.48M	Buy	196,677 +300	+0.2%	+$3.78K	0.24%	28
2014 Q2	$2.45M	Buy	196,377 +4,484	+2%	+$55.8K	0.24%	27
2014 Q1	$2.38M	Buy	191,893 +201	+0.1%	+$2.49K	0.27%	26
2013 Q4	$2.34M	Hold	191,692	–	–	0.32%	24
2013 Q3	$2.19M	Hold	191,692	–	–	0.52%	23
2013 Q2	$2.24M	Buy	+191,692	New	+$2.24M	0.33%	25