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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
+44.09%
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
$831M
AUM Growth
-$1.4B
(-63%)
Cap. Flow
-$2.02B
Cap. Flow
% of AUM
-243.26%
Top 10 Holdings %
Top 10 Hldgs %
92.83%
Holding
57
New
7
Increased
3
Reduced
16
Closed
11
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
AIV
Aimco
AIV
|
+$4.39M |
| 2 |
Barings BDC
BBDC
|
+$1.82M |
| 3 |
BCIC
BCP Investment Corp
BCIC
|
+$228K |
| 4 |
CWBC
Community West BanCshares
CWBC
|
+$217K |
| 5 |
MLVF
Malvern Bancorp, Inc.
MLVF
|
+$216K |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
COWN
Cowen Inc. Class A Common Stock
COWN
|
+$11.1M |
| 2 |
WRK
WestRock Company
WRK
|
+$2.81M |
| 3 |
Great Elm Group
GEG
|
+$2.71M |
| 4 |
State Street
STT
|
+$2.67M |
| 5 |
CIT
CIT Group Inc.
CIT
|
+$2.52M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Financials | 10.18% |
| 2 | Consumer Discretionary | 4% |
| 3 | Healthcare | 3.06% |
| 4 | Communication Services | 1.86% |
| 5 | Real Estate | 0.65% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
1
PUT
Tesla
TSLA
$1.18T
| $614M | 73.91% |
2,611,500
-11,554,500
| -82% | -$1.97B |
|
|
COWN
2
DELISTED
Cowen Inc. Class A Common Stock
COWN
| $37.9M | 4.56% |
1,456,873
-493,478
| -25% | -$11.1M |
|
3
PUT
Trupanion
TRUP
$1.13B
| $23.9M | 2.88% |
200,000
-40,000
| -17% | -$3.78M |
|
4
Stereotaxis
STXS
$133M
| $21.7M | 2.62% |
4,270,952
| – | – |
|
|
CIT
5
DELISTED
CIT Group Inc.
CIT
| $18.3M | 2.21% |
510,610
-80,000
| -14% | -$2.52M |
|
6
Greif Class B
GEF.B
$4.13B
| $13.8M | 1.66% |
284,930
-18,400
| -6% | -$871K |
|
7
Liberty Latin America Class C
LILAK
$1.69B
| $13.5M | 1.63% |
1,341,189
-106,325
| -7% | -$1.05M |
|
8
Lincoln National
LNC
$7.92B
| $11.8M | 1.43% |
235,432
-10,000
| -4% | -$425K |
|
|
WRK
9
DELISTED
WestRock Company
WRK
| $8.79M | 1.06% |
202,000
-68,000
| -25% | -$2.81M |
|
10
PUT
Beyond Meat
BYND
$274M
| $7.5M | 0.9% |
+60,000
| New | +$9.05M |
|
11
Lennar Class B
LEN.B
$19.9B
| $6.95M | 0.84% |
119,402
-28,404
| -19% | -$1.68M |
|
|
WRK
12
CALL
DELISTED
WestRock Company
WRK
| $5.66M | 0.68% |
+130,000
| New | +$5.36M |
|
|
AIV
13
Aimco
AIV
$377M
| $5.22M | 0.63% |
+988,400
| New | +$4.39M |
|
|
KL
14
DELISTED
Kirkland Lake Gold Ltd Ordinary
KL
| $4.13M | 0.5% |
100,000
-5,000
| -5% | -$222K |
|
15
Sonida Senior Living
SNDA
$1.93B
| $3.72M | 0.45% |
301,576
-869
| -0.3% | -$9.98K |
|
16
PUT
Penumbra
PEN
$12.6B
| $3.5M | 0.42% |
+20,000
| New | +$4.38M |
|
17
International Paper
IP
$22.6B
| $3.48M | 0.42% |
73,920
-31,680
| -30% | -$1.42M |
|
|
NWLI
18
DELISTED
National Western Life Group, Inc. Class A
NWLI
| $3.14M | 0.38% |
15,195
| – | – |
|
19
CALL
RTX Corp
RTX
$290B
| $2.86M | 0.34% |
40,000
| – | – |
|
|
20
CALL
Lincoln National
LNC
$7.92B
| $2.4M | 0.29% |
47,600
| – | – |
|
|
CSTR
21
DELISTED
CapStar Financial Holdings, Inc
CSTR
| $2.05M | 0.25% |
138,729
| – | – |
|
|
22
Barings BDC
BBDC
$869M
| $1.97M | 0.24% |
+214,059
| New | +$1.82M |
|
|
23
Liberty Latin America Class A
LILA
$1.72B
| $1.93M | 0.23% |
255,480
| – | – |
|
|
PTVCA
24
DELISTED
Protective Insurance Corporation Class A Common Stock
PTVCA
| $1.86M | 0.22% |
123,599
+74
| +0.1% | +$1.12K |
|
25
SiriusPoint
SPNT
$3.03B
| $1.76M | 0.21% |
184,554
-6,500
| -3% | -$56.8K |
|
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Arbiter Partners Capital Management's Q4 2020 Portfolio in Review
As of Q4 2020, Arbiter Partners Capital Management held 57 positions worth $831M, down 63% from $2.23B the previous quarter. Its ten largest holdings account for 93% of the portfolio.
Arbiter Partners Capital Management withdrew a net $2.02B in Q4 2020, closing 11 positions and reducing 16 holdings. Its most notable exit was Great Elm Group, an estimated $2.71M position sold in full.
By sector, the portfolio is most concentrated in Financials at 10% of assets, up from 3% a quarter earlier, followed by Consumer Discretionary and Healthcare.
Against the trend, Arbiter Partners Capital Management opened a new position in Aimco worth $5.22M.
- Arbiter Partners Capital Management's largest Q4 2020 buy was Aimco: 988,400 shares worth $5.22M.
- Arbiter Partners Capital Management added most to BCP Investment Corp in Q4 2020, an estimated $228K increase.
- Arbiter Partners Capital Management's biggest Q4 2020 reduction was Cowen Inc. Class A Common Stock, cutting an estimated $11.1M.
- Arbiter Partners Capital Management fully exited Great Elm Group in Q4 2020, selling an estimated $2.71M.
- Arbiter Partners Capital Management's ten largest holdings make up 93% of its $831M portfolio in Q4 2020.
- Arbiter Partners Capital Management opened 7 new positions and closed 11 in Q4 2020.
- Arbiter Partners Capital Management's portfolio value fell 63% quarter-over-quarter to $831M.
Based on Arbiter Partners Capital Management's 13F filing for Q4 2020, filed 16 Feb 2021.