ARBITER PARTNERS CAPITAL MANAGEMENT LLC Information

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

Report Date: 06/30/2014

Position Statistics

Total Positions 98
New Positions 11
Increased Positions 25
Decreased Positions 13
Positions with Activity 38
Sold Out Positions 4
Total Mkt Value (in $ millions) 353

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

Sector Weighting

Basic Materials 14.42%
Capital Goods 7.52%
Conglomerates
Consumer Cyclical 0.18%
Consumer/Non-Cyclical 0.33%
Energy 5.72%
Financial 29.51%
Healthcare 11.7%
Services 12.19%
Technology 15.82%
Transportation
Utilities

98 Positions as of 06/30/2014

Company Class ▲ Value of Shares ($1,000s) Change in Value ($1,000s) Change (%) Shares Held
AMERICAN HOMES 4 RENT CL A 180 180 New 10,000
CLEAR CHANNEL OUTDOOR HLDGS IN CL A 3,838 New 550,694
COWEN GROUP INC NEW CL A 13,147 -113 (0.85) 3,262,375
ERIE INDTY CO CL A 276 276 New 3,599
FOREST CITY ENTERPRISES INC CL A 19,882 New 964,208
LEAPFROG ENTERPRISES INC CL A 625 New 100,000
NATIONAL WESTN LIFE INS CO CL A 14,905 New 58,576
SALEM COMMUNICATIONS CORP DEL CL A 373 New 46,099
SENECA FOODS CORP NEW CL A 278 New 9,250
U S GLOBAL INVS INC CL A 152 New 40,969
OPPENHEIMER HLDGS INC CL A NON VTG 2,046 393 23.78 86,159
APOLLO GLOBAL MGMT LLC CL A SHS 608 New 25,000
MDC PARTNERS INC CL A SUB VTG 235 New 10,744
GREIF INC CL B 45,570 New 845,459
LENNAR CORP CL B 6,065 New 191,874
SENECA FOODS CORP NEW CL B 230 New 7,500
STRAIGHT PATH COMMUNICATNS INC CL B 533 New 56,007
FOREST CITY ENTERPRISES INC CL B CONV 370 14 4.05 18,000
RADIO ONE INC CL D NON VTG 1,059 1,059 New 358,892
GREENLIGHT CAPITAL RE LTD CLASS A 239 New 7,000