Paul Isaac - Arbiter Partners Capital Management 13F Activity & Position Changes (Q2 2017)

According to the SEC 13F filed on Sep 15, 2026, the Arbiter Partners Capital Management portfolio showed several notable changes in holdings as of quarter-end Jun 30, 2017. 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 Q2 2017, the filing reported:

New Buys - Burford Capital, Clipper Realty Inc., ICC Holdings, Inc., 3M Company, Meritage Homes Corporation, and 1 more

Increases - Hennessy Advisors, Inc., Seabridge Gold, Inc., Sportsman's Warehouse Holdings,, Vista Outdoor Inc.

Reductions - Conduent Incorporated, Extreme Networks, Inc., Gilead Sciences, Inc., GameStop Corporation, Koppers Holdings Inc., and 1 more

Complete Exits - Korn Ferry

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

Showing 17 of 17 transactions.

Date	Symbol	Name	Type	Change Qty	% Change	Value	Remaining
Q2 2017	BUR Burford Capital	Burford Capital	Buy - Position Entry	+1,313,506	-	$7.67M	1,313,506
Q2 2017	CLPR Clipper Realty Inc.	Clipper Realty Inc.	Buy - Position Entry	+649,453	-	$8.01M	649,453
Q2 2017	CNDT Conduent Incorporated	Conduent Incorporated	Sell	-699,459	-70.9%	$4.58M	287,541
Q2 2017	EXTR Extreme Networks, Inc.	Extreme Networks, Inc.	Sell	-2,568,473	-84.9%	$4.23M	458,554
Q2 2017	GILD Gilead Sciences, Inc.	Gilead Sciences, Inc.	Sell	-209,838	-97.6%	$365.00K	5,162
Q2 2017	GME GameStop Corporation	GameStop Corporation	Sell	-15,000	-8.4%	$3.52M	163,053
Q2 2017	HNNA Hennessy Advisors, Inc.	Hennessy Advisors, Inc.	Buy	+120	+1.0%	$192.00K	12,646
Q2 2017	ICCH ICC Holdings, Inc.	ICC Holdings, Inc.	Buy - Position Entry	+25,000	-	$433.00K	25,000
Q2 2017	KFY Korn Ferry	Korn Ferry	Sell - Position Exit	-50,000	-100.0%	$0.00	-
Q2 2017	KOP Koppers Holdings Inc.	Koppers Holdings Inc.	Sell	-7,035	-44.4%	$319.00K	8,819
Q2 2017	MMM 3M Company	3M Company	Buy - Position Entry	+1,000	-	$208.00K	1,000
Q2 2017	MTH Meritage Homes Corporation	Meritage Homes Corporation	Buy - Position Entry	+100,465	-	$4.24M	100,465
Q2 2017	NODK NI Holdings, Inc.	NI Holdings, Inc.	Buy - Position Entry	+147,364	-	$2.63M	147,364
Q2 2017	SA Seabridge Gold, Inc.	Seabridge Gold, Inc.	Buy	+557,223	+95.1%	$12.35M	1,143,445
Q2 2017	SEE Sealed Air Corporation	Sealed Air Corporation	Sell	-1,431	-4.5%	$1.35M	30,114
Q2 2017	SPWH Sportsman's Warehouse Holdings,	Sportsman's Warehouse Holdings,	Buy	+768,758	+53.4%	$11.92M	2,207,974
Q2 2017	VSTO Vista Outdoor Inc.	Vista Outdoor Inc.	Buy	+244,427	+34.1%	$21.64M	961,559