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) 365

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

Sector Weighting

Basic Materials 12.94%
Capital Goods 8.8%
Conglomerates
Consumer Cyclical 0.06%
Consumer/Non-Cyclical 0.32%
Energy 11.11%
Financial 25.74%
Healthcare 15.51%
Services 10.89%
Technology 7.8%
Transportation
Utilities 0.05%

24 INCREASED 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 47,804 598 1.27 1,830,167
GREIF INC CL B 43,050 2,862 7.12 906,739
EQUINIX INC COM PAR $0.001 20,503 473 2.36 79,124
FIRST CTZNS BANCSHARES INC N C CL A 12,740 5,306 71.38 52,880
AMERICAN RLTY CAP PPTYS INC COM 9,270 3,698 66.37 1,002,700
SOUTHWESTERN ENERGY CO COM 8,664 8,664 New 300,000
LENNAR CORP CL B 8,334 59 .72 224,632
WRIGHT MED GROUP INC RT 8,085 333 4.29 1,925,027
INTELSAT S A COM 8,053 3,395 72.87 645,820
EXTREME NETWORKS INC COM 6,654 1,340 25.23 2,609,274
PERMIAN BASIN RTY TR UNIT BEN INT 5,616 3,342 146.99 605,783
OPPENHEIMER HLDGS INC CL A NON VTG 3,922 220 5.96 162,585
WHITING PETE CORP NEW COM 3,362 3,362 New 88,588
LAKE SHORE BANCORP INC COM 2,712 57 2.14 200,877
DIREXION SHS ETF TR DL RUSSIA BEAR 2,330 2,330 New 333,800
RADIO ONE INC CL D NON VTG 2,187 257 13.30 602,542
OCONEE FED FINL CORP COM 890 21 2.39 43,399
AMREP CORP NEW COM 582 275 89.64 113,095
DIREXION SHS ETF TR DLY EMKT 3X NEW 518 518 New 20,100
SPARK NETWORKS INC COM 441 233 112.27 111,525