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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
+4.24%
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
$894M
AUM Growth
+$167M
(+23%)
Cap. Flow
+$159M
Cap. Flow
% of AUM
17.83%
Top 10 Holdings %
Top 10 Hldgs %
50.23%
Holding
135
New
26
Increased
25
Reduced
16
Closed
17
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
Equinix
EQIX
|
+$13.5M |
| 2 |
VER
VEREIT, Inc.
VER
|
+$8.39M |
| 3 |
Assured Guaranty
AGO
|
+$6.21M |
| 4 |
Citigroup
C
|
+$4.98M |
| 5 |
I
INTELSAT S. A.
I
|
+$4.03M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
NFBK
Northfield Bancorp
NFBK
|
+$7.92M |
| 2 |
OSG
Octave Specialty Group
OSG
|
+$7.46M |
| 3 |
LVLT
Level 3 Communications Inc
LVLT
|
+$1.66M |
| 4 |
SEE
Sealed Air
SEE
|
+$824K |
| 5 |
ESRX
Express Scripts Holding Company
ESRX
|
+$749K |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Financials | 11.27% |
| 2 | Consumer Discretionary | 8.7% |
| 3 | Healthcare | 4.74% |
| 4 | Real Estate | 3.91% |
| 5 | Energy | 2.52% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
1
PUT
Tesla
TSLA
$1.18T
| $73M | 8.16% |
+5,250,000
| New | +$70.3M |
|
2
CALL
Devon Energy
DVN
$51.3B
| $53.8M | 6.02% |
803,200
| – | – |
|
|
ESRX
3
CALL
DELISTED
Express Scripts Holding Company
ESRX
| $52.6M | 5.88% |
700,000
-100,000
| -13% | -$7.49M |
|
4
Greif Class B
GEF.B
$4.13B
| $49.6M | 5.55% |
845,459
+4,000
| +0.5% | +$225K |
|
5
Sonida Senior Living
SNDA
$1.93B
| $42M | 4.7% |
107,676
| – | – |
|
|
6
CALL
Equinix
EQIX
$99.4B
| $37.9M | 4.24% |
205,000
| – | – |
|
|
7
Assured Guaranty
AGO
$3.73B
| $35.8M | 4% |
1,412,769
+262,600
| +23% | +$6.21M |
|
8
CALL
ExxonMobil
XOM
$650B
| $35.2M | 3.93% |
360,000
| – | – |
|
9
PUT
Netflix
NFLX
$307B
| $34.8M | 3.89% |
+6,916,000
| New | +$39.6M |
|
10
CALL
Hartford Financial Services
HIG
$39.9B
| $34.4M | 3.85% |
975,400
+350,000
| +56% | +$12.2M |
|
|
11
CALL
Citigroup
C
$213B
| $33.3M | 3.73% |
700,000
+300,000
| +75% | +$14.9M |
|
|
FCE.A
12
DELISTED
Forest City Realty Trust, Inc.
FCE.A
| $18.4M | 2.06% |
964,208
| – | – |
|
13
Xerox
XRX
$345M
| $18.2M | 2.03% |
610,729
+28,083
| +5% | +$823K |
|
|
14
CALL
Xerox
XRX
$345M
| $17.4M | 1.95% |
584,923
| – | – |
|
|
OSG
15
Octave Specialty Group
OSG
$257M
| $17.2M | 1.92% |
553,057
-270,141
| -33% | -$7.46M |
|
|
QVCGA
16
DELISTED
QVC Group Inc Series A
QVCGA
| $17M | 1.9% |
14,334
| – | – |
|
17
CALL
ProShares Short VIX Short-Term Futures ETF
SVXY
$217M
| $16.9M | 1.89% |
272,200
+75,400
| +38% | +$4.7M |
|
18
Texas Pacific Land
TPL
$26.9B
| $14.8M | 1.66% |
1,031,382
| – | – |
|
|
COWN
19
DELISTED
Cowen Inc. Class A Common Stock
COWN
| $14.5M | 1.62% |
822,594
| – | – |
|
|
NWLIA
20
DELISTED
NATL WESTN LIFE INS CO CL A
NWLIA
| $14.3M | 1.6% |
58,576
+213
| +0.4% | +$52.1K |
|
|
21
Equinix
EQIX
$99.4B
| $14.3M | 1.6% |
77,300
+73,000
| +1,698% | +$13.5M |
|
|
ATHN
22
PUT
DELISTED
Athenahealth, Inc.
ATHN
| $13.3M | 1.48% |
+82,800
| New | +$13.6M |
|
23
CALL
APA Corp
APA
$13B
| $10.8M | 1.21% |
130,000
| – | – |
|
24
PUT
Groupon
GRPN
$1.03B
| $10.5M | 1.17% |
66,720
| – | – |
|
|
25
Citigroup
C
$213B
| $9.85M | 1.1% |
207,000
+100,000
| +93% | +$4.98M |
|
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Arbiter Partners Capital Management's Q1 2014 Portfolio in Review
As of Q1 2014, Arbiter Partners Capital Management held 135 positions worth $894M, up 23% from $727M the previous quarter. Its ten largest holdings account for 50% of the portfolio.
Arbiter Partners Capital Management deployed $159M of net new capital in Q1 2014, opening 26 new positions and adding to 25 existing holdings. Its largest new stake was VEREIT, Inc.: 120,540 shares worth $8.45M.
By sector, the portfolio is most concentrated in Financials at 11% of assets, down from 13% a quarter earlier, followed by Consumer Discretionary and Healthcare.
On the sell side, the largest reduction was Octave Specialty Group, an estimated $7.46M trimmed.
- Arbiter Partners Capital Management's largest Q1 2014 buy was VEREIT, Inc.: 120,540 shares worth $8.45M.
- Arbiter Partners Capital Management added most to Equinix in Q1 2014, an estimated $13.5M increase.
- Arbiter Partners Capital Management's biggest Q1 2014 reduction was Octave Specialty Group, cutting an estimated $7.46M.
- Arbiter Partners Capital Management fully exited Northfield Bancorp in Q1 2014, selling an estimated $7.92M.
- Arbiter Partners Capital Management's ten largest holdings make up 50% of its $894M portfolio in Q1 2014.
- Arbiter Partners Capital Management opened 26 new positions and closed 17 in Q1 2014.
- Arbiter Partners Capital Management's portfolio value rose 23% quarter-over-quarter to $894M.
Based on Arbiter Partners Capital Management's 13F filing for Q1 2014, filed 15 May 2014.