ARBITER PARTNERS CAPITAL MANAGEMENT LLC Information

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

Report Date: 09/30/2014

Position Statistics

Total Positions 103
New Positions 9
Increased Positions 21
Decreased Positions 19
Positions with Activity 40
Sold Out Positions 9
Total Mkt Value (in $ millions) 361

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

Sector Weighting

Basic Materials 12.65%
Capital Goods 8.25%
Conglomerates
Consumer Cyclical 0.16%
Consumer/Non-Cyclical 0.33%
Energy 11.04%
Financial 27.21%
Healthcare 14.91%
Services 9.74%
Technology 9.23%
Transportation
Utilities

21 INCREASED Positions as of 09/30/2014

Company Class Value of Shares ($1,000s) ▼ Change in Value ($1,000s) Change (%) Shares Held
CAPITAL SR LIVING CORP COM 45,109 3,797 9.19 1,807,270
GREIF INC CL B 41,739 49 .12 846,459
PBF ENERGY INC CL A 22,134 22,134 New 753,100
LENNAR CORP CL B 8,453 1,181 16.24 223,032
EXTREME NETWORKS INC COM 7,668 2,321 43.42 2,083,674
FIRST CTZNS BANCSHARES INC N C CL A 7,605 7,605 New 30,856
INTELSAT S A COM 6,444 1,200 22.89 373,588
TRIBUNE PUBG CO COM 6,382 6,382 New 314,394
INTERVEST BANCSHARES CORP COM 4,546 124 2.82 463,868
OPPENHEIMER HLDGS INC CL A NON VTG 3,563 1,562 78.09 153,444
LAKE SHORE BANCORP INC COM 2,557 4 .15 196,677
HARTFORD FINL SVCS GROUP INC COM 2,232 827 58.82 54,000
PAR PETE CORP COM NEW 1,847 1,847 New 121,912
BLUE HILLS BANCORP INC COM 1,305 1,305 New 99,600
CITIZENS CMNTY BANCORP INC MD COM 1,046 1,046 New 113,490
RADIO ONE INC CL D NON VTG 984 320 48.18 531,792
ERIE INDTY CO CL A 777 470 152.82 9,099
MERIDIAN BANCORP INC MD COM 556 556 New 50,244
SALEM COMMUNICATIONS CORP DEL CL A 530 173 48.37 68,399
CHC GROUP LTD SHS 244 244 New 47,300