ARBITER PARTNERS CAPITAL MANAGEMENT LLC Information

11 E 44TH STREET, SUITE 700, NEW YORK, New York, 10017, (212) 452-9119

Report Date: 12/31/2014

Position Statistics

Total Positions 100
New Positions 6
Increased Positions 24
Decreased Positions 15
Positions with Activity 39
Sold Out Positions 5
Total Mkt Value (in $ millions) 358

Institutional Holdings information is filed by major institutions on form 13-F with the Securities and Exchange Commission.

Sector Weighting

Basic Materials 12.66%
Capital Goods 9.51%
Conglomerates
Consumer Cyclical 0.06%
Consumer/Non-Cyclical 0.32%
Energy 10.2%
Financial 26.6%
Healthcare 15.52%
Services 11.09%
Technology 7.76%
Transportation
Utilities 0.05%

100 Positions as of 12/31/2014

Company Class Value of Shares ($1,000s) ▼ Change in Value ($1,000s) Change (%) Shares Held
CAPITAL SR LIVING CORP COM 46,559 583 1.27 1,830,167
GREIF INC CL B 41,258 2,743 7.12 906,739
FOREST CITY ENTERPRISES INC CL A 24,404 New 964,208
EQUINIX INC COM PAR $0.001 18,177 419 2.36 79,124
COWEN GROUP INC NEW CL A 16,801 New 3,262,375
LIBERTY INTERACTIVE CORP INT COM SER A 16,753 New 578,700
TEXAS PAC LD TR SUB CTF PROP I T 16,437 New 114,598
NATIONAL WESTN LIFE INS CO CL A 15,170 New 58,576
FIRST CTZNS BANCSHARES INC N C CL A 13,424 5,591 71.38 52,880
AMERICAN RLTY CAP PPTYS INC COM 9,927 3,960 66.37 1,002,700
PBF ENERGY INC CL A 9,164 -15,402 (62.7) 280,933
LENNAR CORP CL B 9,030 64 .72 224,632
WRIGHT MED GROUP INC RT 8,143 335 4.29 1,925,027
EXTREME NETWORKS INC COM 8,037 1,619 25.23 2,609,274
INTELSAT S A COM 7,543 3,180 72.87 645,820
SOUTHWESTERN ENERGY CO COM 6,696 6,696 New 300,000
ELDORADO RESORTS INC COM 6,560 New 1,281,289
DEVON ENERGY CORP NEW COM 5,057 New 85,490
PERMIAN BASIN RTY TR UNIT BEN INT 4,931 2,935 146.99 605,783
TRIBUNE PUBG CO COM 4,788 -1,324 (21.66) 246,302