Arbiter Partners Capital Management’s National Western Life Group, Inc. Class A NWLI Stock Holding History

Quarter	Market Value	Status	Shares	Shares Change %	Trade Value	Portfolio Weight	Portfolio Position
2023 Q4	–	Sell	-2,405	Closed	-$1.05M	–	48
2023 Q3	$1.05M	Sell	2,405 -1,350	-36%	-$591K	1.34%	17
2023 Q2	$1.56M	Sell	3,755 -16,275	-81%	-$6.76M	1.67%	9
2023 Q1	$4.86M	Hold	20,030	–	–	4.54%	7
2022 Q4	$5.63M	Hold	20,030	–	–	4.86%	6
2022 Q3	$3.42M	Buy	20,030 +1,206	+6%	+$206K	2.18%	8
2022 Q2	$3.82M	Buy	18,824 +1,230	+7%	+$249K	2.37%	9
2022 Q1	$3.7M	Buy	17,594 +470	+3%	+$98.9K	1.94%	9
2021 Q4	$3.67M	Buy	17,124 +3,634	+27%	+$779K	0.45%	9
2021 Q3	$2.84M	Hold	13,490	–	–	0.45%	13
2021 Q2	$3.03M	Sell	13,490 -1,705	-11%	-$383K	0.5%	12
2021 Q1	$3.78M	Hold	15,195	–	–	0.27%	11
2020 Q4	$3.14M	Hold	15,195	–	–	0.38%	13
2020 Q3	$2.78M	Buy	15,195 +1,000	+7%	+$183K	0.12%	12
2020 Q2	$2.88M	Buy	14,195 +9,976	+236%	+$2.03M	0.23%	10
2020 Q1	$726K	Buy	4,219 +852	+25%	+$147K	0.11%	20
2019 Q4	$979K	Buy	3,367 +1,412	+72%	+$411K	0.14%	18
2019 Q3	$525K	Hold	1,955	–	–	0.1%	21
2019 Q2	$502K	Buy	+1,955	New	+$502K	0.1%	25
2017 Q4	–	Sell	-891	Closed	-$311K	–	79
2017 Q3	$311K	Sell	891 -471	-35%	-$164K	0.03%	48
2017 Q2	$435K	Hold	1,362	–	–	0.05%	47
2017 Q1	$414K	Hold	1,362	–	–	0.05%	47
2016 Q4	$423K	Hold	1,362	–	–	0.07%	45
2016 Q3	$280K	Hold	1,362	–	–	0.03%	57
2016 Q2	$266K	Hold	1,362	–	–	0.03%	60
2016 Q1	$314K	Sell	1,362 -1,385	-50%	-$319K	0.06%	58
2015 Q4	$692K	Buy	+2,747	New	+$692K	0.09%	51