Paul Isaac - Arbiter Partners Capital Management 13F Activity & Position Changes (Q1 2016)

As of Mar 31, 2016, the Arbiter Partners Capital Management portfolio activity showed several notable changes in holdings, according to the latest SEC 13F filing reported on May 12, 2026. The activity included new positions, additions to existing holdings, reductions, and complete exits, providing a clear view of how the portfolio evolved during the quarter.

During Q1 2016, the filing reported:

New Buys - AerCap, Imperial Oil Limited, KKR & Co. Inc., McKesson Corporation

Increases - Citigroup, Inc., eBay Inc., Micron Technology, Inc., Northern Dynasty Minerals, Ltd., Oppenheimer Holdings, Inc., and 1 more

Reductions - Amkor Technology, Inc., Extreme Networks, Inc., Greif, Inc. Corporation, Koppers Holdings Inc., Lennar Corporation, and 3 more

Complete Exits - Carnival Corporation, FMC Corporation, PJT Partners Inc., Seritage Growth Properties, Teck Resources Ltd

These updates highlight how the portfolio adjusted across different sectors and market conditions, offering insights into allocation shifts and investment trends.

Date	Symbol	Name	Type	Change Qty	% Change	Value	Remaining
Q1 2016	AER AerCap	AerCap	Buy - Position Entry	+105,000	-	$4.07K	105,000
Q1 2016	AMKR Amkor Technology, Inc.	Amkor Technology, Inc.	Sell	-1,227,671	-32.5%	$14.99K	2,545,156
Q1 2016	C Citigroup, Inc.	Citigroup, Inc.	Buy	+50,000	+72.5%	$4.97K	119,000
Q1 2016	CCL Carnival Corporation	Carnival Corporation	Sell - Position Exit	-9,000	-100.0%	$0.00	-
Q1 2016	EBAY eBay Inc.	eBay Inc.	Buy	+304,000	+253.3%	$10.12K	424,000
Q1 2016	EXTR Extreme Networks, Inc.	Extreme Networks, Inc.	Sell	-872,748	-17.8%	$12.53K	4,027,252
Q1 2016	FMC FMC Corporation	FMC Corporation	Sell - Position Exit	-67,289	-100.0%	$0.00	-
Q1 2016	GEF-B Greif, Inc. Corporation	Greif, Inc. Corporation	Sell	-16,059	-1.8%	$41.04K	877,004
Q1 2016	IMO Imperial Oil Limited	Imperial Oil Limited	Buy - Position Entry	+6,000	-	$200.00	6,000
Q1 2016	KKR KKR & Co. Inc.	KKR & Co. Inc.	Buy - Position Entry	+10,000	-	$147.00	10,000
Q1 2016	KOP Koppers Holdings Inc.	Koppers Holdings Inc.	Sell	-30,663	-13.4%	$4.46K	198,368
Q1 2016	LEN-B Lennar Corporation	Lennar Corporation	Sell	-24,838	-5.9%	$15.38K	397,198
Q1 2016	MCK McKesson Corporation	McKesson Corporation	Buy - Position Entry	+3,000	-	$472.00	3,000
Q1 2016	MU Micron Technology, Inc.	Micron Technology, Inc.	Buy	+55,000	+4.0%	$15.02K	1,435,000
Q1 2016	NAK Northern Dynasty Minerals, Ltd.	Northern Dynasty Minerals, Ltd.	Buy	+30,000	+3.6%	$281.00	873,348
Q1 2016	OPY Oppenheimer Holdings, Inc.	Oppenheimer Holdings, Inc.	Buy	+32,674	+10.5%	$5.45K	345,049
Q1 2016	PBT Permian Basin Royalty Trust	Permian Basin Royalty Trust	Buy	+75,111	+7.8%	$6.41K	1,041,000
Q1 2016	PJT PJT Partners Inc.	PJT Partners Inc.	Sell - Position Exit	-185,600	-100.0%	$0.00	-
Q1 2016	SEE Sealed Air Corporation	Sealed Air Corporation	Sell	-14,021	-29.4%	$1.62K	33,708
Q1 2016	SHBI Shore Bancshares, Inc.	Shore Bancshares, Inc.	Sell	-35,316	-47.1%	$475.00	39,684
Q1 2016	SRG Seritage Growth Properties	Seritage Growth Properties	Sell - Position Exit	-385,152	-100.0%	$0.00	-
Q1 2016	TECK Teck Resources Ltd	Teck Resources Ltd	Sell - Position Exit	-200,240	-100.0%	$0.00	-
Q1 2016	TPC Tutor Perini Corporation	Tutor Perini Corporation	Sell	-45,300	-18.8%	$3.05K	196,020