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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
-4.76%
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
$535M
AUM Growth
-$246M
(-31%)
Cap. Flow
-$205M
Cap. Flow
% of AUM
-38.35%
Top 10 Holdings %
Top 10 Hldgs %
56.65%
Holding
121
New
7
Increased
13
Reduced
20
Closed
21
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
eBay
EBAY
|
+$7.4M |
| 2 |
Sonida Senior Living
SNDA
|
+$6.2M |
| 3 |
COWN
Cowen Inc. Class A Common Stock
COWN
|
+$5.16M |
| 4 |
AerCap
AER
|
+$3.62M |
| 5 |
Citigroup
C
|
+$2.09M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
FCE.A
Forest City Realty Trust, Inc.
FCE.A
|
+$21.2M |
| 2 |
SRG
Seritage Growth Properties
SRG
|
+$15.5M |
| 3 |
BNCL
Beneficial Bancorp, Inc.
BNCL
|
+$8.97M |
| 4 |
Amkor Technology
AMKR
|
+$6.66M |
| 5 |
PJT Partners
PJT
|
+$5.25M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Consumer Discretionary | 15.61% |
| 2 | Financials | 12.1% |
| 3 | Healthcare | 9.27% |
| 4 | Technology | 7.95% |
| 5 | Energy | 4.9% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
1
PUT
Tesla
TSLA
$1.18T
| $78.7M | 14.71% |
5,134,500
-750,000
| -13% | -$9.87M |
|
|
2
Sonida Senior Living
SNDA
$1.93B
| $49.1M | 9.18% |
176,787
+23,790
| +16% | +$6.2M |
|
3
Greif Class B
GEF.B
$4.13B
| $41M | 7.67% |
877,004
-16,059
| -2% | -$622K |
|
|
4
CALL
Citigroup
C
$213B
| $32.4M | 6.05% |
775,000
| – | – |
|
|
VXX
5
PUT
DELISTED
iPath S&P 500 VIX Short-Term Futures ETN due 1/30/2019
VXX
| $18.6M | 3.49% |
66,144
| – | – |
|
|
CBI
6
CALL
DELISTED
Chicago Bridge & Iron Nv
CBI
| $18.3M | 3.42% |
500,000
+300,000
| +150% | +$10.7M |
|
7
CALL
Pfizer
PFE
$143B
| $17.8M | 3.33% |
632,400
| – | – |
|
8
Texas Pacific Land
TPL
$26.9B
| $16.7M | 3.12% |
1,031,382
| – | – |
|
9
Lennar Class B
LEN.B
$19.9B
| $15.4M | 2.88% |
426,209
-26,653
| -6% | -$866K |
|
10
Micron Technology
MU
$835B
| $15M | 2.81% |
1,435,000
+55,000
| +4% | +$615K |
|
|
11
Amkor Technology
AMKR
$10.6B
| $15M | 2.8% |
2,545,156
-1,227,671
| -33% | -$6.66M |
|
|
QVCGA
12
DELISTED
QVC Group Inc Series A
QVCGA
| $14.6M | 2.73% |
11,921
| – | – |
|
13
First Citizens BancShares
FCNCA
$24.7B
| $14.3M | 2.67% |
56,870
| – | – |
|
|
I
14
DELISTED
INTELSAT S. A.
I
| $12.7M | 2.37% |
5,026,247
+442,842
| +10% | +$1.25M |
|
15
Extreme Networks
EXTR
$3.8B
| $12.5M | 2.34% |
4,027,252
-872,748
| -18% | -$2.68M |
|
16
CALL
Emerson Electric
EMR
$81.6B
| $10.9M | 2.03% |
200,000
| – | – |
|
17
CALL
McKesson
MCK
$104B
| $10.7M | 2% |
68,000
+8,600
| +14% | +$1.39M |
|
|
18
eBay
EBAY
$51.2B
| $10.1M | 1.89% |
424,000
+304,000
| +253% | +$7.4M |
|
|
ANAT
19
DELISTED
American National Group, Inc. Common Stock
ANAT
| $9.84M | 1.84% |
85,153
| – | – |
|
|
MON
20
CALL
DELISTED
Monsanto Co
MON
| $7.02M | 1.31% |
80,000
| – | – |
|
|
CYB
21
PUT
DELISTED
WisdomTree Chinese Yuan Strategy Fund
CYB
| $6.53M | 1.22% |
261,000
-100,000
| -28% | -$2.45M |
|
|
PBT
22
Permian Basin Royalty Trust
PBT
$1.36B
| $6.41M | 1.2% |
1,041,000
+75,111
| +8% | +$414K |
|
|
COWN
23
DELISTED
Cowen Inc. Class A Common Stock
COWN
| $6.27M | 1.17% |
411,691
+393,847
| +2,207% | +$5.16M |
|
24
Oppenheimer Holdings
OPY
$1.18B
| $5.45M | 1.02% |
345,049
+32,674
| +10% | +$487K |
|
25
CALL
Johnson & Johnson
JNJ
$640B
| $5.41M | 1.01% |
50,000
| – | – |
|
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Arbiter Partners Capital Management's Q1 2016 Portfolio in Review
As of Q1 2016, Arbiter Partners Capital Management held 121 positions worth $535M, down 31% from $781M the previous quarter. Its ten largest holdings account for 57% of the portfolio.
Arbiter Partners Capital Management withdrew a net $205M in Q1 2016, closing 21 positions and reducing 20 holdings. Its most notable exit was Forest City Realty Trust, Inc., an estimated $21.2M position sold in full.
By sector, the portfolio is most concentrated in Consumer Discretionary at 16% of assets, up from 10% a quarter earlier, followed by Financials and Healthcare.
Against the trend, Arbiter Partners Capital Management opened a new position in AerCap worth $4.07M.
- Arbiter Partners Capital Management's largest Q1 2016 buy was AerCap: 105,000 shares worth $4.07M.
- Arbiter Partners Capital Management added most to eBay in Q1 2016, an estimated $7.4M increase.
- Arbiter Partners Capital Management's biggest Q1 2016 reduction was Amkor Technology, cutting an estimated $6.66M.
- Arbiter Partners Capital Management fully exited Forest City Realty Trust, Inc. in Q1 2016, selling an estimated $21.2M.
- Arbiter Partners Capital Management's ten largest holdings make up 57% of its $535M portfolio in Q1 2016.
- Arbiter Partners Capital Management opened 7 new positions and closed 21 in Q1 2016.
- Arbiter Partners Capital Management's portfolio value fell 31% quarter-over-quarter to $535M.
Based on Arbiter Partners Capital Management's 13F filing for Q1 2016, filed 16 May 2016.