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APCM

Arbiter Partners Capital Management Portfolio holdings

AUM $175M
1-Year Est. Return 99.81%
This Fund
S&P 500
This Quarter Est. Return
+25.64%
1 Year Est. Return
+99.81%
3 Year Est. Return
+329.06%
5 Year Est. Return
+284.7%
10 Year Est. Return
+937.68%
AUM
$205M
AUM Growth
+$37.7M
Cap. Flow
+$6.12M
Cap. Flow %
2.98%
Top 10 Hldgs %
77.31%
Holding
51
New
11
Increased
13
Reduced
5
Closed
2

Top Buys

Rank Stock Value
1
CRBG icon
Corebridge Financial
CRBG
+$2.5M
2
OGG
Osisko Gold Group Inc.
OGG
+$2.05M
3
CBL
CBL Properties
CBL
+$773K
4
LESL icon
Leslie's
LESL
+$771K
5
OPRT icon
Oportun Financial
OPRT
+$744K

Top Sells

Rank Stock Value
1
JBGS
JBG SMITH
JBGS
+$1.74M
2
SNDA icon
Sonida Senior Living
SNDA
+$1.07M
3
EMX
EMX Royalty
EMX
+$1.06M
4
SENEA icon
Seneca Foods Class A
SENEA
+$212K
5
DVN icon
Devon Energy
DVN
+$140K

Sector Composition

Rank Sector Weight
1 Healthcare 52.11%
2 Financials 17.43%
3 Consumer Discretionary 7.62%
4 Materials 3.74%
5 Communication Services 3.73%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
CWBC
26
Community West Bancshares
CWBC
$684M
$987K 0.48%
43,864
– –
MET icon
27
CALL
MetLife
MET
$62.1B
$789K 0.38%
10,000
– –
WFRD icon
28
Weatherford International
WFRD
$6.22B
$783K 0.38%
10,000
– –
OPRT icon
29
Oportun Financial
OPRT
$372M
$746K 0.36%
+141,109
New +$744K
NODK icon
30
NI Holdings
NODK
$320M
$684K 0.33%
51,392
– –
VOXR
31
Vox Royalty Corp
VOXR
$347M
$578K 0.28%
121,920
+98,000
+410% +$444K
AVBC
32
Avidia Bancorp
AVBC
$399M
$551K 0.27%
+32,800
New +$514K
MRT icon
33
Marti Technologies
MRT
$150M
$545K 0.27%
229,935
+56,760
+33% +$135K
LEN.B icon
34
Lennar Class B
LEN.B
$20.8B
$535K 0.26%
5,629
– –
ELE
35
Elemental Royalty Corp
ELE
$1.23B
$459K 0.22%
+27,033
New +$416K
LESL icon
36
Leslie's
LESL
$11M
$392K 0.19%
+237,637
New +$771K
OABI icon
37
OmniAb
OABI
$447M
$356K 0.17%
192,585
+32,056
+20% +$55.7K
DVN icon
38
Devon Energy
DVN
$47.3B
$330K 0.16%
9,000
-4,000
-31% -$140K
GROY icon
39
Gold Royalty Corp
GROY
$699M
$318K 0.15%
+78,600
New +$301K
MLCI
40
Mount Logan Capital Inc
MLCI
$33.9M
$293K 0.14%
+35,505
New +$277K
OLN icon
41
Olin
OLN
$2.12B
$269K 0.13%
+12,900
New +$278K
MTA
42
Metalla Royalty & Streaming
MTA
$818M
$265K 0.13%
+34,000
New +$245K
RITM icon
43
Rithm Capital
RITM
$5.69B
$218K 0.11%
+20,000
New +$221K
TRC icon
44
Tejon Ranch
TRC
$451M
$217K 0.11%
13,742
– –
SENEA icon
45
Seneca Foods Class A
SENEA
$1.21B
$203K 0.1%
1,839
-1,851
-50% -$212K
BTG icon
46
B2Gold
BTG
$6.64B
$113K 0.06%
25,000
– –
CLPR
47
Clipper Realty
CLPR
$46.2M
$86.4K 0.04%
22,618
– –
LRE
48
Lead Real Estate
LRE
$18.1M
$29K 0.01%
+18,495
New +$26.4K
EMX
49
DELISTED
EMX Royalty
EMX
– –
-205,915
Closed -$1.06M
JBGS
50
JBG SMITH
JBGS
$708M
– –
-78,209
Closed -$1.74M
1
2

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Arbiter Partners Capital Management's Q4 2025 Portfolio in Review

As of Q4 2025, Arbiter Partners Capital Management held 51 positions worth $205M, up 23% from $167M the previous quarter. Its ten largest holdings account for 77% of the portfolio.

Arbiter Partners Capital Management's Q4 2025 filing shows 11 new, 13 increased, 5 reduced and 2 closed positions. Its largest new stake was Leslie's: 237,637 shares worth $392K. The largest sale was JBG SMITH, an estimated $1.74M.

By sector, the portfolio is most concentrated in Healthcare at 52% of assets, up from 48% a quarter earlier, followed by Financials and Consumer Discretionary.

  • Arbiter Partners Capital Management's largest Q4 2025 buy was Leslie's: 237,637 shares worth $392K.
  • Arbiter Partners Capital Management added most to Corebridge Financial in Q4 2025, an estimated $2.5M increase.
  • Arbiter Partners Capital Management's biggest Q4 2025 reduction was Sonida Senior Living, cutting an estimated $1.07M.
  • Arbiter Partners Capital Management fully exited JBG SMITH in Q4 2025, selling an estimated $1.74M.
  • Arbiter Partners Capital Management's ten largest holdings make up 77% of its $205M portfolio in Q4 2025.
  • Arbiter Partners Capital Management opened 11 new positions and closed 2 in Q4 2025.
  • Arbiter Partners Capital Management's portfolio value rose 23% quarter-over-quarter to $205M.

Based on Arbiter Partners Capital Management's 13F filing for Q4 2025, filed 12 Feb 2026.