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Arbiter Partners Capital Management LLC

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13F filer, CIK 1513193, NEW YORK, NY

Arbiter Partners Capital Management LLC reported $205,166,659 across 49 holdings for the quarter ended 2025-12-31, in a 13F-HR filed 2026-02-12. Its ten largest share positions make up 80.76% of the portfolio.

Filed (acceptance time not in the bulk data set), ingested 13F-HR 0001062993-26-000828

Period
2025-12-31
Reported value
$205M
Holdings
49
Top 10 weight
80.76%
New
11
Sold out
2

Part of the filer group Arbiter Partners Capital Management LLC

How groups are built

Largest buys vs the previous quarter

SecurityShares changeApprox. value
CRBGadded+81,400$2.46M
ODVadded+597,854$2.09M
CBLadded+23,681$876K
OPRTnew+141,109$746K
NAVIadded+49,350$642K

Ranked by the share change valued at this quarter's implied price (value over shares in the 13F). A position sold out is valued at the previous quarter's price, its last report.

Largest sells vs the previous quarter

SecurityShares changeApprox. value
JBGSexited-78,209-$1.74M
SNDAreduced-36,009-$1.16M
EMX RTY CORPexited-205,915-$1.06M
SENEAreduced-1,851-$205K
DVNreduced-4,000-$147K

Ranked by the share change valued at this quarter's implied price (value over shares in the 13F). A position sold out is valued at the previous quarter's price, its last report.

Holdings, Q4 2025

Share positions as resolved from 13F-HR 0001062993-26-000828, largest first. % of portfolio is the value over $185,815,573, the sum of the share positions whose value is usable for ratios (method).

SecurityHistorySharesValue% of portfolioChangeLatest eventTimeline
GRALGRAIL INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 269,108 shares; 2024Q4: 830,642 shares; 2025Q1: 1,025,042 shares; 2025Q2: 1,037,898 shares; 2025Q3: 1,035,897 shares; 2025Q4: 1,035,597 shares 1,035,597$88.6M47.7%-300Timeline
GEF-BGREIF INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 199,063 shares; 2024Q4: 197,033 shares; 2025Q1: 197,033 shares; 2025Q2: 197,033 shares; 2025Q3: 197,033 shares; 2025Q4: 197,033 shares 197,033$14.7M7.92%0Timeline
CRBGCOREBRIDGE FINL INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 88,755 shares; 2024Q4: 182,155 shares; 2025Q1: 182,155 shares; 2025Q2: 188,655 shares; 2025Q3: 188,655 shares; 2025Q4: 270,055 shares 270,055$8.15M4.38%+81,400Timeline
SHGSHINHAN FINANCIAL GROUP CO LQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 10,600 shares; 2024Q4: 10,600 shares; 2025Q1: 25,600 shares; 2025Q2: 39,600 shares; 2025Q3: 137,169 shares; 2025Q4: 138,169 shares 138,169$7.41M3.99%+1,000Timeline
STXSSTEREOTAXIS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 2,791,068 shares; 2024Q4: 2,791,068 shares; 2025Q1: 2,853,856 shares; 2025Q2: 2,853,856 shares; 2025Q3: 2,853,856 shares; 2025Q4: 2,883,856 shares 2,883,856$6.63M3.57%+30,000Timeline
SNDASONIDA SENIOR LIVING INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 320,983 shares; 2024Q4: 307,569 shares; 2025Q1: 320,995 shares; 2025Q2: 225,331 shares; 2025Q3: 218,833 shares; 2025Q4: 182,824 shares 182,824$5.91M3.18%-36,009Timeline
ARVNARVINAS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 452,789 shares; 2025Q4: 452,789 shares 452,789$5.37M2.89%0Timeline
CBLCBL & ASSOC PPTYS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 96,563 shares; 2025Q4: 120,244 shares 120,244$4.45M2.39%+23,681Timeline
GNWGENWORTH FINL INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 242,000 shares; 2025Q2: 346,400 shares; 2025Q3: 487,400 shares; 2025Q4: 487,400 shares 487,400$4.4M2.37%0Timeline
SPNTSIRIUSPOINT LTDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 85,747 shares; 2024Q4: 214,282 shares; 2025Q1: 214,282 shares; 2025Q2: 200,832 shares; 2025Q3: 200,832 shares; 2025Q4: 200,832 shares 200,832$4.4M2.37%0Timeline
OPYOPPENHEIMER HLDGS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 22,900 shares; 2024Q4: 49,683 shares; 2025Q1: 54,999 shares; 2025Q2: 54,999 shares; 2025Q3: 54,999 shares; 2025Q4: 54,999 shares 54,999$3.98M2.14%0Timeline
GOOGLALPHABET INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 1,500 shares; 2025Q2: 12,000 shares; 2025Q3: 12,000 shares; 2025Q4: 12,000 shares 12,000$3.76M2.02%0Timeline
ODVOSISKO DEVELOPMENT CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 20,000 shares; 2025Q2: 20,000 shares; 2025Q3: 340,000 shares; 2025Q4: 937,854 shares 937,854$3.27M1.76%+597,854Timeline
LILAKLIBERTY LATIN AMERICA LTDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 359,048 shares; 2024Q4: 359,048 shares; 2025Q1: 359,048 shares; 2025Q2: 359,048 shares; 2025Q3: 359,048 shares; 2025Q4: 359,048 shares 359,048$2.68M1.44%0Timeline
TFPMTRIPLE FLAG PRECIOUS METALQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 54,000 shares; 2025Q2: 54,000 shares; 2025Q3: 54,000 shares; 2025Q4: 72,000 shares 72,000$2.39M1.29%+18,000Timeline
VETVERMILION ENERGY INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 216,235 shares; 2025Q2: not reported; 2025Q3: 250,235 shares; 2025Q4: 266,738 shares 266,738$2.22M1.2%+16,503Timeline
MTGMGIC INVT CORP WISQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 74,000 shares; 2024Q4: 74,000 shares; 2025Q1: 74,000 shares; 2025Q2: 74,000 shares; 2025Q3: 74,000 shares; 2025Q4: 74,000 shares 74,000$2.16M1.16%0Timeline
NAVINAVIENT CORPORATIONQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 105,744 shares; 2025Q4: 155,094 shares 155,094$2.02M1.09%+49,350Timeline
TBNTAMBORAN RES CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 49,542 shares; 2025Q4: 57,212 shares 57,212$1.56M0.84%+7,670Timeline
NMMNAVIOS MARITIME PARTNERS LPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 24,800 shares; 2025Q4: 24,800 shares 24,800$1.3M0.7%0Timeline
LILALIBERTY LATIN AMERICA LTDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 164,481 shares; 2024Q4: 164,481 shares; 2025Q1: 164,481 shares; 2025Q2: 164,481 shares; 2025Q3: 164,481 shares; 2025Q4: 164,481 shares 164,481$1.22M0.65%0Timeline
CWBCCOMMUNITY WEST BANCSHARES NEQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 50,739 shares; 2025Q2: 43,864 shares; 2025Q3: 43,864 shares; 2025Q4: 43,864 shares 43,864$987K0.53%0Timeline
WFRDWEATHERFORD INTL PLCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 10,000 shares; 2025Q4: 10,000 shares 10,000$783K0.42%0Timeline
OPRTOPORTUN FINL CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 141,109 shares 141,109$746K0.4%newTimeline
NODKNI HLDGS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 20,392 shares; 2024Q4: 51,392 shares; 2025Q1: 51,392 shares; 2025Q2: 51,392 shares; 2025Q3: 51,392 shares; 2025Q4: 51,392 shares 51,392$684K0.37%0Timeline
VOXRVOX ROYALTY CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 23,920 shares; 2025Q4: 121,920 shares 121,920$578K0.31%+98,000Timeline
AVBCAVIDIA BANCORP INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 32,800 shares 32,800$551K0.3%newTimeline
MRTMARTI TECHNOLOGIES INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 65,952 shares; 2025Q1: 65,952 shares; 2025Q2: 65,952 shares; 2025Q3: 173,175 shares; 2025Q4: 229,935 shares 229,935$545K0.29%+56,760Timeline
LEN-BLENNAR CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 6,889 shares; 2024Q4: 5,629 shares; 2025Q1: 5,629 shares; 2025Q2: 5,629 shares; 2025Q3: 5,629 shares; 2025Q4: 5,629 shares 5,629$535K0.29%0Timeline
ELEELEMENTAL RTY CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 27,033 shares 27,033$459K0.25%newTimeline
LESLQLESLIES INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 237,637 shares 237,637$392K0.21%newTimeline
OABIOMNIAB INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 160,529 shares; 2025Q4: 192,585 shares 192,585$356K0.19%+32,056Timeline
DVNDEVON ENERGY CORP NEWQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 16,400 shares; 2024Q4: 13,000 shares; 2025Q1: 13,000 shares; 2025Q2: 13,000 shares; 2025Q3: 13,000 shares; 2025Q4: 9,000 shares 9,000$330K0.18%-4,000Timeline
GROYGOLD ROYALTY CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 78,600 shares 78,600$318K0.17%newTimeline
MLCIMOUNT LOGAN CAP INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 35,505 shares 35,505$293K0.16%newTimeline
OLNOLIN CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 12,900 shares 12,900$269K0.14%newTimeline
MTAMETALLA RTY & STREAMING LTDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 34,000 shares 34,000$265K0.14%newTimeline
BURFORD CAPITAL LTDBURFORD CAPITAL LTDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 78,000 shares; 2025Q1: 78,000 shares; 2025Q2: 14,800 shares; 2025Q3: not reported; 2025Q4: 27,000 shares 27,000$241K0.13%new
RITMRITHM CAPITAL CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 20,000 shares 20,000$218K0.12%newTimeline
TRCTEJON RANCH COQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 14,742 shares; 2024Q4: 14,742 shares; 2025Q1: 13,742 shares; 2025Q2: 13,742 shares; 2025Q3: 13,742 shares; 2025Q4: 13,742 shares 13,742$217K0.12%0Timeline
SENEASENECA FOODS CORP NEWQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 4,190 shares; 2024Q4: 4,190 shares; 2025Q1: 4,190 shares; 2025Q2: 4,190 shares; 2025Q3: 3,690 shares; 2025Q4: 1,839 shares 1,839$203K0.11%-1,851Timeline
BTGB2GOLD CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 25,000 shares; 2025Q2: 25,000 shares; 2025Q3: 25,000 shares; 2025Q4: 25,000 shares 25,000$113K0.06%0Timeline
CLPRCLIPPER RLTY INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 22,618 shares; 2024Q4: 22,618 shares; 2025Q1: 22,618 shares; 2025Q2: 22,618 shares; 2025Q3: 22,618 shares; 2025Q4: 22,618 shares 22,618$86.4K0.05%0Timeline
LRELEAD REAL ESTATE CO LTDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 18,495 shares 18,495$29K0.02%newTimeline

Options

Puts and calls, as filed. The amount and value describe the underlying shares, not the option premium, so they stay out of % of portfolio (H5).

SecurityTypeAmountValueChange
TSLATESLA INC COMput28,800$13M-3,700
ABRARBOR REALTY TRUST INC COMput353,600$2.74M+37,700
GOOGLALPHABET INC COMcall4,900$1.53M0
AAPLAPPLE INC COMput4,900$1.33M0
METMETLIFE INC Stockcall10,000$789K0

Sold out in Q4 2025

Positions in the previous quarter's report that this quarter's report no longer lists.

SecurityShares beforeValue beforeType
JBGSJBG SMITH PPTYS78,209$1.74Mshares
EMX RTY CORPEMX RTY CORP205,915$1.06Mshares

How Q4 2025 was built

Available 13F filings of this filer for the quarter and their roles: the base report is the latest original or restatement, NEW HOLDINGS amendments filed after it are added (method).

FilingRoleAmendmentFiledAcceptedIngested
13F-HR 0001062993-26-000828 base2026-02-12acceptance time not in the bulk data set