Arbiter Partners Capital Management’s MVC Capital, Inc. MVC Stock Holding History

Quarter	Market Value	Status	Shares	Shares Change %	Trade Value	Portfolio Weight	Portfolio Position
2020 Q4	–	Sell	-218,633	Closed	-$1.71M	–	53
2020 Q3	$1.71M	Hold	218,633	–	–	0.08%	16
2020 Q2	$1.43M	Hold	218,633	–	–	0.11%	16
2020 Q1	$955K	Buy	218,633 +27,779	+15%	+$121K	0.14%	14
2019 Q4	$1.75M	Hold	190,854	–	–	0.25%	13
2019 Q3	$1.7M	Hold	190,854	–	–	0.31%	13
2019 Q2	$1.76M	Hold	190,854	–	–	0.34%	12
2019 Q1	$1.73M	Hold	190,854	–	–	0.35%	13
2018 Q4	$1.57M	Hold	190,854	–	–	0.18%	17
2018 Q3	$1.84M	Hold	190,854	–	–	0.18%	21
2018 Q2	$1.81M	Hold	190,854	–	–	0.18%	22
2018 Q1	$1.9M	Hold	190,854	–	–	0.23%	23
2017 Q4	$2.02M	Hold	190,854	–	–	0.22%	26
2017 Q3	$1.91M	Hold	190,854	–	–	0.21%	28
2017 Q2	$1.88M	Hold	190,854	–	–	0.23%	30
2017 Q1	$1.72M	Hold	190,854	–	–	0.22%	26
2016 Q4	$1.64M	Hold	190,854	–	–	0.27%	23
2016 Q3	$1.58M	Hold	190,854	–	–	0.19%	23
2016 Q2	$1.53M	Hold	190,854	–	–	0.2%	27
2016 Q1	$1.42M	Hold	190,854	–	–	0.27%	31
2015 Q4	$1.41M	Hold	190,854	–	–	0.18%	37
2015 Q3	$1.57M	Hold	190,854	–	–	0.15%	32
2015 Q2	$1.95M	Buy	190,854 +128,394	+206%	+$1.31M	0.17%	31
2015 Q1	$592K	Buy	+62,460	New	+$592K	0.05%	49