Arbiter Partners Capital Management’s United Bancshares Inc/OH UBOH Stock Holding History

Quarter	Market Value	Status	Shares	Shares Change %	Trade Value	Portfolio Weight	Portfolio Position
2018 Q1	–	Sell	-24,104	Closed	-$535K	–	74
2017 Q4	$535K	Sell	24,104 -20,132	-46%	-$447K	0.06%	39
2017 Q3	$995K	Hold	44,236	–	–	0.11%	35
2017 Q2	$1.03M	Hold	44,236	–	–	0.13%	39
2017 Q1	$921K	Hold	44,236	–	–	0.12%	33
2016 Q4	$947K	Hold	44,236	–	–	0.16%	31
2016 Q3	$884K	Hold	44,236	–	–	0.11%	35
2016 Q2	$787K	Hold	44,236	–	–	0.1%	38
2016 Q1	$823K	Hold	44,236	–	–	0.15%	39
2015 Q4	$807K	Buy	44,236 +2,555	+6%	+$46.6K	0.1%	46
2015 Q3	$654K	Hold	41,681	–	–	0.06%	52
2015 Q2	$645K	Buy	41,681 +8,034	+24%	+$124K	0.06%	54
2015 Q1	$511K	Buy	33,647 +9,937	+42%	+$151K	0.04%	53
2014 Q4	$343K	Hold	23,710	–	–	0.03%	68
2014 Q3	$355K	Hold	23,710	–	–	0.04%	65
2014 Q2	$317K	Hold	23,710	–	–	0.03%	65
2014 Q1	$372K	Hold	23,710	–	–	0.04%	57
2013 Q4	$339K	Hold	23,710	–	–	0.05%	58
2013 Q3	$302K	Hold	23,710	–	–	0.07%	48
2013 Q2	$287K	Buy	+23,710	New	+$287K	0.04%	46