Paul Isaac - Arbiter Partners Capital Management 13F Activity & Position Changes (Q1 2025)

According to the SEC 13F filed on May 13, 2025, the Arbiter Partners Capital Management portfolio showed several notable changes in holdings as of quarter-end Mar 31, 2025. 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 2025, the filing reported:

New Buys - B2Gold Corp, Community West Bancshares, EMX Royalty Corporation, Genworth Financial Inc, Alphabet Inc., and 4 more

Increases - GRAIL, Inc., Oppenheimer Holdings, Inc., Shinhan Financial Group Co Ltd, Sonida Senior Living, Inc., Stereotaxis, Inc.

Reductions - Seneca Foods Corp., Tejon Ranch Co

Complete Exits - Cresud S.A.C.I.F. y A., Logan Ridge Finance Corporation

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

Showing 18 of 18 transactions.

Date	Symbol	Name	Type	Change Qty	% Change	Value	Remaining
Q1 2025	BTG B2Gold Corp	B2Gold Corp	Buy - Position Entry	+25,000	-	$71.25K	25,000
Q1 2025	CRESY Cresud S.A.C.I.F. y A.	Cresud S.A.C.I.F. y A.	Sell - Position Exit	-10,098	-100.0%	$0.00	-
Q1 2025	CWBC Community West Bancshares	Community West Bancshares	Buy - Position Entry	+50,739	-	$937.66K	50,739
Q1 2025	EMX EMX Royalty Corporation	EMX Royalty Corporation	Buy - Position Entry	+102,895	-	$209.91K	102,895
Q1 2025	GNW Genworth Financial Inc	Genworth Financial Inc	Buy - Position Entry	+242,000	-	$1.72M	242,000
Q1 2025	GOOGL Alphabet Inc.	Alphabet Inc.	Buy - Position Entry	+1,500	-	$231.96K	1,500
Q1 2025	GRAL GRAIL, Inc.	GRAIL, Inc.	Buy	+194,400	+23.4%	$26.18M	1,025,042
Q1 2025	JBGS JBG SMITH Properties	JBG SMITH Properties	Buy - Position Entry	+25,000	-	$402.75K	25,000
Q1 2025	LRFC Logan Ridge Finance Corporation	Logan Ridge Finance Corporation	Sell - Position Exit	-50,358	-100.0%	$0.00	-
Q1 2025	ODV Osisko Development Corp.	Osisko Development Corp.	Buy - Position Entry	+20,000	-	$29.80K	20,000
Q1 2025	OPY Oppenheimer Holdings, Inc.	Oppenheimer Holdings, Inc.	Buy	+5,316	+10.7%	$3.28M	54,999
Q1 2025	SENEB Seneca Foods Corp.	Seneca Foods Corp.	Sell	-1,097	-14.8%	$572.31K	6,303
Q1 2025	SHG Shinhan Financial Group Co Ltd	Shinhan Financial Group Co Ltd	Buy	+15,000	+141.5%	$821.25K	25,600
Q1 2025	SNDA Sonida Senior Living, Inc.	Sonida Senior Living, Inc.	Buy	+13,426	+4.4%	$7.48M	320,995
Q1 2025	STXS Stereotaxis, Inc.	Stereotaxis, Inc.	Buy	+62,788	+2.2%	$5.02M	2,853,856
Q1 2025	TFPM Triple Flag Precious Metals Cor	Triple Flag Precious Metals Cor	Buy - Position Entry	+54,000	-	$1.03M	54,000
Q1 2025	TRC Tejon Ranch Co	Tejon Ranch Co	Sell	-1,000	-6.8%	$217.81K	13,742
Q1 2025	VET Vermilion Energy Inc.	Vermilion Energy Inc.	Buy - Position Entry	+216,235	-	$1.75M	216,235