Arbiter Partners Capital Management LLC's SEC 13F Portfolio ($174.5M)

Sector-focusedMomentum followerQuality / disciplined sizing

Total reported value

$174.5M

Reporting period: 2026-03-31 · Number of holdings: 45

Arbiter Partners Capital Management LLC disclosed 45 holdings in its latest 13F filing for the period ending 2026-03-31, with total reported value of $174.5M and a quarterly turnover rate of 44.4%.

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Personality snowflake

Concentration: 50.02
Portfolio Stability: 44.4
Momentum/Contrarian: 100
Sector conviction: 100
Diversification: 88
Sizing Uniformity: 78.54

Recent moves

Trim GRAL
-0.1%　-$35.2M
Add TSLA
+71.5%　$5.4M
Add GEF-B
-1.0%　$2.4M
Add ODV
+122.6%　$3.5M
Add ELE
+522.6%　$2.7M
Add NAVI
+230.5%　$2.2M

Holdings Map

New buyAddUnchangedTrim

Top 10 holdings by weight

Full holdings list this quarter

Showing top 44 holdings (of 45 total)

#	Ticker	Issuer	Asset Subclass	Weight	Weight Change	Shares Change
1	GRAL	Grail INC	Stock-Healthcare	30.64%	-12.56%	-0.10%
2	TSLA	Tesla INC	Stock-Consumer Disc	10.52%	+4.21%	+71.53%
3	GEF-B	Greif Inc-cl B	Stock-Other	9.78%	+2.61%	-1.02%
4	ODV	Osisko Development CORP	Stock-Other	3.89%	+2.29%	+122.58%
5	CRBG	Corebridge Financial INC	Stock-Financials	3.19%	-0.78%	-13.48%
6	STXS	Stereotaxis INC	Stock-Other	3.04%	-0.19%	—
7	OPY	Oppenheimer Holdings-cl A	Stock-Other	2.81%	+0.87%	—
8	SNDA	Sonida Senior Living INC	Stock-Other	2.78%	-0.10%	-16.73%
9	SPNT	SiriusPoint Ltd.	Stock-Other	2.48%	+0.34%	—
10	CBL	Cbl & Associates Properties	Stock-Other	2.41%	+0.24%	-9.15%
11	NAVI	Navient CORP	Stock-Other	2.40%	+1.42%	+230.48%
12	GNW	Genworth Financial INC	Stock-Financials	2.27%	+0.12%	—
13	VET	Vermilion Energy INC	Stock-Other	2.11%	+1.03%	—
14	GOOGL	Alphabet Inc-cl A	Stock-Comm Services	2.03%	-0.55%	-27.22%
15	TBN	Tamboran Resources CORP	Stock-Other	1.93%	+1.17%	+17.48%
16	ABR	Arbor Realty Trust INC	Stock-Real Estate	1.85%	+0.51%	+18.69%
17	ELE	Elemental Royalty CORP	Stock-Other	1.82%	+1.60%	+522.64%
18	RNA	Atrium Therapeutics INC	Stock-Other	1.76%	+1.76%	NEW
19	LILA	Liberty Latin America Ltd.	Stock-Other	1.56%	+0.25%	-13.93%
20	MTG	Mgic Investment CORP	Stock-Financials	1.31%	+0.26%	+17.57%
21	TFPM	Triple Flag Precious Met	Stock-Materials	1.16%	-0.01%	-18.78%
22	NMM	Navios Maritime Partners L.P.	Stock-Other	0.96%	+0.33%	—
23	✓	Liberty Latin America LTD Com Cl A	Stock-Other	0.81%	+0.22%	—
24	MET	Metlife INC	Stock-Financials	0.81%	+0.43%	+100.00%
25	AAPL	Apple INC	Stock-Tech	0.71%	+0.06%	—
26	CWBC	Community West Bancshares	Stock-Other	0.59%	+0.11%	—
27	WFRD	Weatherford International plc	Stock-Energy	0.54%	+0.16%	—
28	OPRT	Oportun Financial CORP	Stock-Other	0.51%	+0.15%	+36.14%
29	MSFT	Microsoft CORP	Stock-Tech	0.42%	+0.42%	NEW
30	NODK	Ni Holdings INC	Stock-Other	0.38%	+0.05%	—
31	AVBC	Avidia Bancorp INC	Stock-Other	0.37%	+0.10%	—
32	VOXR	Vox Royalty CORP	Stock-Other	0.37%	+0.09%	—
33	MRT	Marti Technologies INC	Stock-Other	0.33%	+0.06%	+24.49%
34	LEN-B	Lennar CORP - B Shs	Stock-Other	0.27%	+0.01%	—
35	OLN	Olin CORP	Stock-Materials	0.22%	+0.09%	—
36	OABI	Omniab INC	Stock-Other	0.17%	—	—
37	GROY	Gold Royalty CORP	Stock-Other	0.16%	+0.01%	—
38	TRC	Tejon Ranch Co	Stock-Other	0.14%	+0.03%	-5.45%
39	MTA	Metalla Royalty & Streaming	Stock-Other	0.13%	—	—
40	DVN	Devon Energy CORP	Stock-Energy	0.12%	-0.04%	-55.56%
41	MLCI	Mount Logan Capital INC	Stock-Other	0.07%	-0.07%	—
42	BUR	Burford Capital Limited	Stock-Other	0.07%	+0.07%	NEW
43	BTG	B2gold CORP	Stock-Other	0.06%	—	—
44	CLPR	Clipper Realty INC	Stock-Other	0.04%	—	—

Portfolio Performance

Performance for Q3 2026

—

Performance Last 4 Quarters

—

Based on 35% of reported portfolio value with available pricing

Stdev: +24.6%
Beta: +1.3
Alpha: -23.3%
Max Drawdown: -13.9%
Annualized Perf: -14.2%
Batting Avg vs S&P: +14.3%
Sortino: -0.81
Stutzer: -0.16
Treynor: -0.1
Sterling: —
Calmar: -1.02
Information Ratio: -2.2
Tracking Error: +9.5%
Stdev Down: +15.8%
Winning Months %: +42.9%
Losing Months %: +57.1%
Best 12 Months: —
Worst 12 Months: —
Efficiency Ratio: +0.22
Sharpe: -0.52
Stdev Sectors: +17.1%
Skewness: +1.02
Kurtosis: -0.1
Upside Potential: +1.74

Reported value over time

Sector allocation

Sector allocation over time

Quarterly history

Period	Holdings	Total value	Stability	Top holdings
2026-03-31	45	$174.5M	44	1GRAL 2TSLA 3GEF-B Top holdings2026-03-31 1.GRAL 2.TSLA 3.GEF-B 4.ODV 5.CRBG 6.STXS 7.OPY 8.SNDA 9.SPNT 10.CBL
2025-12-31	49	$205.2M	30	1GRAL 2GEF-B 3TSLA Top holdings2025-12-31 1.GRAL 2.GEF-B 3.TSLA 4.CRBG 5.SHG 6.STXS 7.SNDA 8.ARVN 9.GOOGL 10.CBL
2025-09-30	40	$167.4M	84	1GRAL 2TSLA 3GEF-B Top holdings2025-09-30 1.GRAL 2.TSLA 3.GEF-B 4.STXS 5.SHG 6.SNDA 7.CRBG 8.GNW 9.GOOGL 10.OPY
2025-06-30	30	$113.6M	0	1GRAL 2GEF-B 3CRBG Top holdings2025-06-30 1.GRAL 2.GEF-B 3.CRBG 4.STXS 5.SNDA 6.SPNT 7.OPY 8.GOOGL 9.GNW 10.LILA
2025-03-31	34	$138.4M	100	1TSLA 2GRAL 3GEF-B Top holdings2025-03-31 1.TSLA 2.GRAL 3.GEF-B 4.SNDA 5.CRBG 6.STXS 7.SPNT 8.OPY 9.ABR 10.LILA
2024-12-31	29	$161.8M	0	1TSLA 2GRAL 3GEF-B Top holdings2024-12-31 1.TSLA 2.GRAL 3.GEF-B 4.SNDA 5.STXS 6.CRBG 7.ABR 8.SPNT 9.OPY 10.LILA
2024-09-30	28	$113.4M	0	1TSLA 2GEF-B 3SNDA Top holdings2024-09-30 1.TSLA 2.GEF-B 3.SNDA 4.ABR 5.STXS 6.GRAL 7.LILA 8.CRBG 9.MTG 10.ARKK
2024-06-30	33	$100.1M	0	1TSLA 2GEF-B 3SNDA Top holdings2024-06-30 1.TSLA 2.GEF-B 3.SNDA 4.ABR 5.STXS 6.LILA 7.CRBG 8.GRAL 9.LH 10.MTG
2024-03-31	34	$79.4M	0	1SNDA 2GEF-B 3STXS Top holdings2024-03-31 1.SNDA 2.GEF-B 3.STXS 4.ABR 5.TSLA 6.DLR 7.ARKK 8.LILA 9.CRBG 10.50540R
2023-12-31	45	$87.9M	0	1GEF-B 2TSLA 3DLR Top holdings2023-12-31 1.GEF-B 2.TSLA 3.DLR 4.SNDA 5.JXN 6.STXS 7.CLX 8.ARKK 9.ABR 10.LILA
2023-09-30	45	$78.3M	0	1GEF-B 2SNDA 3LILA Top holdings2023-09-30 1.GEF-B 2.SNDA 3.LILA 4.JXN 5.STXS 6.TSLA 7.50540R 8.CLX 9.SPWH 10.DLR
2023-06-30	45	$93.4M	0	1GEF-B 2LILA 3SNDA Top holdings2023-06-30 1.GEF-B 2.LILA 3.SNDA 4.DLR 5.TSLA 6.CLX 7.BYND 8.STXS 9.SPWH 10.50540R
2023-03-31	43	$107.0M	0	1GEF-B 2LILA 3ARKK Top holdings2023-03-31 1.GEF-B 2.LILA 3.ARKK 4.BYND 5.JXN 6.SNDA 7.SPWH 8.STXS 9.NWLIEUR 10.NVO
2022-12-31	47	$115.8M	0	1GEF-B 2LILA 3TSLA Top holdings2022-12-31 1.GEF-B 2.LILA 3.TSLA 4.LEN-B 5.JXN 6.SNDA 7.SPWH 8.IWO 9.NWLIEUR 10.STXS
2022-09-30	39	$156.9M	0	1TSLA 2IWO 3GEF-B Top holdings2022-09-30 1.TSLA 2.IWO 3.GEF-B 4.SNDA 5.LILA 6.LEN-B 7.SPWH 8.JXN 9.STXS 10.CLX
2022-06-30	33	$160.8M	0	1TSLA 2COWNEUR 3GEF-B Top holdings2022-06-30 1.TSLA 2.COWNEUR 3.GEF-B 4.SNDA 5.LILA 6.SPWH 7.LEN-B 8.STXS 9.JXN 10.NWLIEUR
2022-03-31	33	$190.4M	0	1TSLA 2COWNEUR 3SNDA Top holdings2022-03-31 1.TSLA 2.COWNEUR 3.SNDA 4.GEF-B 5.LILA 6.JXN 7.WRKUSD 8.STXS 9.LEN-B 10.BYND
2021-12-31	36	$823.8M	0	1TSLA 2COWNEUR 3SNDA Top holdings2021-12-31 1.TSLA 2.COWNEUR 3.SNDA 4.GEF-B 5.STXS 6.LILA 7.JXN 8.LEN-B 9.BYND 10.C
2021-09-30	36	$636.3M	0	1TSLA 2COWNEUR 3GEF-B Top holdings2021-09-30 1.TSLA 2.COWNEUR 3.GEF-B 4.LILA 5.STXS 6.WRKUSD 7.SNDA 8.JXN 9.LEN-B 10.BYND
2021-06-30	33	$601.3M	100	1TSLA 2COWNEUR 3STXS Top holdings2021-06-30 1.TSLA 2.COWNEUR 3.STXS 4.LILA 5.GEF-B 6.SNDA 7.WRKUSD 8.ANAT1USD 9.BYND 10.LEN-B
2021-03-31	43	$1.4B	58	1TSLA 2COWNEUR 3STXS Top holdings2021-03-31 1.TSLA 2.COWNEUR 3.STXS 4.WRKUSD 5.LILA 6.GEF-B 7.TRUP 8.SNDA 9.LEN-B 10.CITUSD
2020-12-31	46	$831.2M	100	1TSLA 2COWNEUR 3TRUP Top holdings2020-12-31 1.TSLA 2.COWNEUR 3.TRUP 4.STXS 5.CITUSD 6.WRKUSD 7.LNC 8.GEF-B 9.LILA 10.BYND
2020-09-30	50	$2.2B	61	1TSLA 2COWNEUR 3ASHR Top holdings2020-09-30 1.TSLA 2.COWNEUR 3.ASHR 4.MSI 5.TRUP 6.STXS 7.GEF-B 8.LILA 9.CITUSD 10.WRKUSD
2020-06-30	49	$1.3B	67	1TSLA 2MSI 3COWNEUR Top holdings2020-06-30 1.TSLA 2.MSI 3.COWNEUR 4.ASHR 5.STXS 6.GEF-B 7.CITUSD 8.LNC 9.LEN-B 10.NMI1EUR
2020-03-31	52	$671.9M	28	1TSLA 2MSI 3ASHR Top holdings2020-03-31 1.TSLA 2.MSI 3.ASHR 4.BMI 5.COWNEUR 6.STXS 7.GEF-B 8.NMI1EUR 9.LNC 10.LEN-B
2019-12-31	43	$689.2M	81	1TSLA 2MSI 3COWNEUR Top holdings2019-12-31 1.TSLA 2.MSI 3.COWNEUR 4.BMI 5.STXS 6.ASHR 7.GEF-B 8.CSUUSD 9.LEN-B 10.LNC
2019-09-30	51	$549.5M	18	1MSI 2TSLA 3LULU Top holdings2019-09-30 1.MSI 2.TSLA 3.LULU 4.COWNEUR 5.CSUUSD 6.STXS 7.GEF-B 8.ASHR 9.L5140P 10.CMG
2019-06-30	54	$515.9M	33	1MSI 2TSLA 3COWNEUR Top holdings2019-06-30 1.MSI 2.TSLA 3.COWNEUR 4.LULU 5.CSUUSD 6.GEF-B 7.L5140P 8.GS 9.LNC 10.KTB
2019-03-31	46	$495.5M	62	1TSLA 2MSI 3COWNEUR Top holdings2019-03-31 1.TSLA 2.MSI 3.COWNEUR 4.LULU 5.GEF-B 6.CSUUSD 7.CLX 8.L5140P 9.HRL 10.T
2018-12-31	57	$895.5M	47	1TSLA 2MSI 3IWM Top holdings2018-12-31 1.TSLA 2.MSI 3.IWM 4.CSUUSD 5.GEF-B 6.QNDX 7.COWNEUR 8.HRL 9.LULU 10.CMG
2018-09-30	64	$1.0B	24	1TSLA 2MSI 3IWM Top holdings2018-09-30 1.TSLA 2.MSI 3.IWM 4.CSUUSD 5.GEF-B 6.COWNEUR 7.L5140P 8.LULU 9.CITUSD 10.MCK
2018-06-30	62	$1.0B	34	1TSLA 2MSI 3CSUUSD Top holdings2018-06-30 1.TSLA 2.MSI 3.CSUUSD 4.IWM 5.GEF-B 6.COWNEUR 7.LULU 8.L5140P 9.CITUSD 10.MCK
2018-03-31	63	$827.9M	30	1TSLA 2MSI 3CSUUSD Top holdings2018-03-31 1.TSLA 2.MSI 3.CSUUSD 4.GEF-B 5.IWM 6.L5140P 7.COWNEUR 8.JBGS 9.VSTOEUR 10.CITUSD
2017-12-31	70	$898.0M	41	1TSLA 2MSI 3CSUUSD Top holdings2017-12-31 1.TSLA 2.MSI 3.CSUUSD 4.GEF-B 5.IWM 6.COWNEUR 7.L5140P 8.JBGS 9.CITUSD 10.MCK
2017-09-30	83	$896.5M	32	1TSLA 2MSI 3CSUUSD Top holdings2017-09-30 1.TSLA 2.MSI 3.CSUUSD 4.GEF-B 5.GLD 6.PXDEUR 7.COWNEUR 8.L5140P 9.VSTOEUR 10.CITUSD
2017-06-30	83	$815.7M	37	1TSLA 2CSUUSD 3GEF-B Top holdings2017-06-30 1.TSLA 2.CSUUSD 3.GEF-B 4.GLD 5.PXDEUR 6.COWNEUR 7.VSTOEUR 8.C 9.REFI 10.MCK
2017-03-31	84	$775.1M	48	1TSLA 2CSUUSD 3GEF-B Top holdings2017-03-31 1.TSLA 2.CSUUSD 3.GEF-B 4.C 5.PXDEUR 6.GLD 7.TPLUSD 8.L5140P 9.EXTR 10.COWNEUR
2016-12-31	82	$596.3M	64	1TSLA 2CSUUSD 3PXDEUR Top holdings2016-12-31 1.TSLA 2.CSUUSD 3.PXDEUR 4.GEF-B 5.C 6.GLD 7.TPLUSD 8.GILD 9.EXTR 10.COWNEUR
2016-09-30	88	$840.9M	27	1IWM 2TSLA 3PXDEUR Top holdings2016-09-30 1.IWM 2.TSLA 3.PXDEUR 4.GEF-B 5.CSUUSD 6.GLD 7.C 8.VXX 9.TPLUSD 10.REFI
2016-06-30	91	$774.5M	72	1IWM 2TSLA 3PXDEUR Top holdings2016-06-30 1.IWM 2.TSLA 3.PXDEUR 4.CSUUSD 5.GEF-B 6.GLD 7.C 8.REFI 9.TPLUSD 10.FCNCA
2016-03-31	100	$534.8M	52	1TSLA 2CSUUSD 3GEF-B Top holdings2016-03-31 1.TSLA 2.CSUUSD 3.GEF-B 4.C 5.REFI 6.VXX 7.PFE 8.TPLUSD 9.AMKR 10.LEN-B
2015-12-31	114	$780.6M	46	1AMZN 2TSLA 3CSUUSD Top holdings2015-12-31 1.AMZN 2.TSLA 3.CSUUSD 4.C 5.GEF-B 6.AMKR 7.VXX 8.345605 9.EXTR 10.MU
2015-09-30	124	$1.0B	29	1AMZN 2TSLA 3CSUUSD Top holdings2015-09-30 1.AMZN 2.TSLA 3.CSUUSD 4.C 5.GEF-B 6.L5140P 7.VXX 8.MU 9.DVN 10.345550
2015-06-30	128	$1.1B	49	1TSLA 2AMZN 3C Top holdings2015-06-30 1.TSLA 2.AMZN 3.C 4.CSUUSD 5.L5140P 6.DVN 7.GEF-B 8.PFE 9.ASHR 10.345550
2015-03-31	122	$1.2B	47	1AMZN 2TSLA 3C Top holdings2015-03-31 1.AMZN 2.TSLA 3.C 4.CSUUSD 5.GEF-B 6.NFLX 7.DVN 8.EQIX 9.CCL1EUR 10.345550
2014-12-31	127	$1.1B	40	1TSLA 2AMZN 3DVN Top holdings2014-12-31 1.TSLA 2.AMZN 3.DVN 4.CSUUSD 5.GEF-B 6.C 7.EQIX 8.9990302D 9.NFLX 10.CCL1EUR
2014-09-30	121	$1.0B	29	1TSLA 2DVN 3EQIX Top holdings2014-09-30 1.TSLA 2.DVN 3.EQIX 4.C 5.HIG 6.9990302D 7.NFLX 8.AXP 9.GEF-B 10.CSUUSD
2014-06-30	125	$1.0B	40	1TSLA 2DVN 3EQIX Top holdings2014-06-30 1.TSLA 2.DVN 3.EQIX 4.GEF-B 5.AXP 6.HIG 7.C 8.9990302D 9.NFLX 10.CSUUSD
2014-03-31	118	$893.7M	45	1TSLA 2DVN 3AXP Top holdings2014-03-31 1.TSLA 2.DVN 3.AXP 4.EQIX 5.GEF-B 6.C 7.CSUUSD 8.XOM 9.AGO 10.XRX
2013-12-31	109	$726.6M	81	1AXP 2DVN 3GEF-B Top holdings2013-12-31 1.AXP 2.DVN 3.GEF-B 4.CSUUSD 5.XRX 6.EQIX 7.XOM 8.AGO 9.C 10.USA
2013-09-30	97	$417.5M	67	1GEF-B 2CSUUSD 3XRX Top holdings2013-09-30 1.GEF-B 2.CSUUSD 3.XRX 4.AGO 5.USA 6.345550 7.OSG 8.USA 9.STX 10.00674E
2013-06-30	88	$673.7M	—	1GS 2GEF-B 3DVN Top holdings2013-06-30 1.GS 2.GEF-B 3.DVN 4.STX 5.USA 6.CSUUSD 7.XRX 8.NEM 9.AGO 10.MSFT

Holding changes this quarter

Arbiter Partners Capital Management LLC's most significant position changes for 2026-03-31: Sold out: Shinhan Financial Group-adr (SHG); Sold out: Arvinas INC (ARVN); New buy: Atrium Therapeutics INC (RNA); New buy: Microsoft CORP (MSFT); Sold out: Leslie's INC (LESL).

Position changes disclosed by Arbiter Partners Capital Management LLC for the quarter ending 2026-03-31, including ticker, issuer, weight change, shares change, and action
#	Ticker	Issuer	Weight Change	Shares Change	Action
1	TSLA	Tesla INC	+4.2%	+71.53%	Add
2	GEF-B	Greif Inc-cl B	+2.6%	-1.02%	Trim
3	ODV	Osisko Development CORP	+2.3%	+122.58%	Add
4	ELE	Elemental Royalty CORP	+1.6%	+522.64%	Add
5	NAVI	Navient CORP	+1.4%	+230.48%	Add
6	TBN	Tamboran Resources CORP	+1.2%	+17.48%	Add
7	VET	Vermilion Energy INC	+1%	—	Unchanged
8	OPY	Oppenheimer Holdings-cl A	+0.9%	—	Unchanged
9	ABR	Arbor Realty Trust INC	+0.5%	+18.69%	Add
10	MET	Metlife INC	+0.4%	+100.00%	Add
11	SPNT	SiriusPoint Ltd.	+0.3%	—	Unchanged
12	NMM	Navios Maritime Partners L.P.	+0.3%	—	Unchanged
13	MTG	Mgic Investment CORP	+0.3%	+17.57%	Add
14	LILA	Liberty Latin America Ltd.	+0.3%	-13.93%	Trim
15	CBL	Cbl & Associates Properties	+0.2%	-9.15%	Trim
16	✓	Liberty Latin America LTD Com Cl A	+0.2%	—	Unchanged
17	WFRD	Weatherford International plc	+0.2%	—	Unchanged
18	OPRT	Oportun Financial CORP	+0.2%	+36.14%	Add
19	GNW	Genworth Financial INC	+0.1%	—	Unchanged
20	CWBC	Community West Bancshares	+0.1%	—	Unchanged
21	AVBC	Avidia Bancorp INC	+0.1%	—	Unchanged
22	OLN	Olin CORP	+0.1%	—	Unchanged
23	VOXR	Vox Royalty CORP	+0.1%	—	Unchanged
24	AAPL	Apple INC	+0.1%	—	Unchanged
25	MRT	Marti Technologies INC	+0.1%	+24.49%	Add
26	NODK	Ni Holdings INC	+0.1%	—	Unchanged
27	TRC	Tejon Ranch Co	0%	-5.45%	Trim
28	LEN-B	Lennar CORP - B Shs	0%	—	Unchanged
29	GROY	Gold Royalty CORP	0%	—	Unchanged
30	OABI	Omniab INC	—	—	Unchanged
31	MTA	Metalla Royalty & Streaming	—	—	Unchanged
32	CLPR	Clipper Realty INC	—	—	Unchanged
33	TFPM	Triple Flag Precious Met	0%	-18.78%	Trim
34	DVN	Devon Energy CORP	0%	-55.56%	Trim
35	MLCI	Mount Logan Capital INC	-0.1%	—	Unchanged
36	SNDA	Sonida Senior Living INC	-0.1%	-16.73%	Trim
37	STXS	Stereotaxis INC	-0.2%	—	Unchanged
38	GOOGL	Alphabet Inc-cl A	-0.6%	-27.22%	Trim
39	CRBG	Corebridge Financial INC	-0.8%	-13.48%	Trim
40	GRAL	Grail INC	-12.6%	-0.10%	Trim
41	SHG	Shinhan Financial Group-adr	—	EXIT	Sold out
42	ARVN	Arvinas INC	—	EXIT	Sold out
43	RNA	Atrium Therapeutics INC	—	NEW	New buy
44	MSFT	Microsoft CORP	—	NEW	New buy
45	LESL	Leslie's INC	—	EXIT	Sold out
46	✓		—	EXIT	Sold out
47	RITM	Rithm Capital CORP	—	EXIT	Sold out
48	SENEA	Seneca Foods CORP - Cl A	—	EXIT	Sold out
49	BUR	Burford Capital Limited	—	NEW	New buy
50	LRE	Lead Real Estate Co LTD	—	EXIT	Sold out

FAQ

What is Arbiter Partners Capital Management LLC and what type of investor is it?

Arbiter Partners Capital Management LLC is a investment manager that files SEC Form 13F quarterly, disclosing its U.S. public equity holdings to regulators. As of the most recent reporting period (2026-03-31), the firm manages a tracked equity portfolio valued at approximately $174.5M, spread across 45 disclosed positions.

What are Arbiter Partners Capital Management LLC's largest equity positions?

Based on the latest 13F filing, Arbiter Partners Capital Management LLC's top holdings by market value are: 1. Grail INC (GRAL) — $53.5M (30.6%) 2. Tesla INC (TSLA) — $18.4M (10.5%) 3. Greif Inc-cl B (GEF-B) — $17.1M (9.8%) 4. Osisko Development CORP (ODV) — $6.8M (3.9%) 5. Corebridge Financial INC (CRBG) — $5.6M (3.2%)

What changes did Arbiter Partners Capital Management LLC make in its most recent portfolio filing?

In the latest reported quarter, Arbiter Partners Capital Management LLC made 30 notable position adjustments: 3 new positions were initiated, 10 existing holdings were added to, 10 positions were partially reduced, and 7 were completely exited. The largest of these moves: Sold out: Shinhan Financial Group-adr (SHG); Sold out: Arvinas INC (ARVN); New buy: Atrium Therapeutics INC (RNA); New buy: Microsoft CORP (MSFT); Sold out: Leslie's INC (LESL)

What sectors does Arbiter Partners Capital Management LLC focus on?

Arbiter Partners Capital Management LLC is concentrated in the following sectors based on its current disclosed equity portfolio: • Health Care: 54.9% • Consumer Discretionary: 18.9% • Financials: 13.6% • Communication Services: 3.6% • Real Estate: 3.3% • Materials: 2.5%

Peer Institutions

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Granby Capital Management, LLC

CIK 0001857581

Total reported value

$174.5M

17 stks

2026-03-31

Concentration67.0

Portfolio Stability9.4

Sector conviction0.0

AUM within 0.0% of this institution

View detail

Kaufman Rossin Wealth, LLC

CIK 0002049750

Total reported value

$174.5M

98 stks

2026-03-31

Concentration28.6

Portfolio Stability24.1

Sector conviction97.1

AUM within 0.0% of this institution

View detail

Riverbend Wealth Management, LLC

CIK 0002055570

Total reported value

$174.6M

152 stks

2026-03-31

Concentration9.8

Portfolio Stability18.0

Sector conviction70.1

AUM within 0.0% of this institution

View detail

Similar Holdings Style

Institutions with overlapping top holdings

American International Group, INC.

CIK 0000005272

Total reported value

$609.2M

2 stks

2026-03-31

Concentration100.0

Portfolio Stability85.3

Sector conviction100.0

1 of the top 5 holdings overlap, including Corebridge Financial INC

View detail

Loomis Sayles & Co L P

CIK 0000312348

Total reported value

$74.3B

1,168 stks

2026-03-31

Concentration14.2

Portfolio Stability17.3

Sector conviction53.9

1 of the top 5 holdings overlap, including Tesla INC

View detail

Caxton Associates LP

CIK 0000872573

Total reported value

$3.2B

477 stks

2024-12-31

Stale — no recent filing

Concentration43.0

Portfolio Stability0.0

Sector conviction94.7

1 of the top 5 holdings overlap, including Tesla INC

View detail

Arbiter Partners Capital Management LLC's SEC 13F Portfolio ($174.5M)

Sector-focusedMomentum followerQuality / disciplined sizing

Total reported value

$174.5M

Reporting period: 2026-03-31 · Number of holdings: 45

Arbiter Partners Capital Management LLC disclosed 45 holdings in its latest 13F filing for the period ending 2026-03-31, with total reported value of $174.5M and a quarterly turnover rate of 44.4%.

Browse other institutions with $100M to $1B AUM Browse other institutions starting with "A"

Personality snowflake

Concentration: 50.02
Portfolio Stability: 44.4
Momentum/Contrarian: 100
Sector conviction: 100
Diversification: 88
Sizing Uniformity: 78.54

Recent moves

Trim GRAL
-0.1%　-$35.2M
Add TSLA
+71.5%　$5.4M
Add GEF-B
-1.0%　$2.4M
Add ODV
+122.6%　$3.5M
Add ELE
+522.6%　$2.7M
Add NAVI
+230.5%　$2.2M

Holdings Map

New buyAddUnchangedTrim

Top 10 holdings by weight

Full holdings list this quarter

Showing top 44 holdings (of 45 total)

#	Ticker	Issuer	Asset Subclass	Weight	Weight Change	Shares Change
1	GRAL	Grail INC	Stock-Healthcare	30.64%	-12.56%	-0.10%
2	TSLA	Tesla INC	Stock-Consumer Disc	10.52%	+4.21%	+71.53%
3	GEF-B	Greif Inc-cl B	Stock-Other	9.78%	+2.61%	-1.02%
4	ODV	Osisko Development CORP	Stock-Other	3.89%	+2.29%	+122.58%
5	CRBG	Corebridge Financial INC	Stock-Financials	3.19%	-0.78%	-13.48%
6	STXS	Stereotaxis INC	Stock-Other	3.04%	-0.19%	—
7	OPY	Oppenheimer Holdings-cl A	Stock-Other	2.81%	+0.87%	—
8	SNDA	Sonida Senior Living INC	Stock-Other	2.78%	-0.10%	-16.73%
9	SPNT	SiriusPoint Ltd.	Stock-Other	2.48%	+0.34%	—
10	CBL	Cbl & Associates Properties	Stock-Other	2.41%	+0.24%	-9.15%
11	NAVI	Navient CORP	Stock-Other	2.40%	+1.42%	+230.48%
12	GNW	Genworth Financial INC	Stock-Financials	2.27%	+0.12%	—
13	VET	Vermilion Energy INC	Stock-Other	2.11%	+1.03%	—
14	GOOGL	Alphabet Inc-cl A	Stock-Comm Services	2.03%	-0.55%	-27.22%
15	TBN	Tamboran Resources CORP	Stock-Other	1.93%	+1.17%	+17.48%
16	ABR	Arbor Realty Trust INC	Stock-Real Estate	1.85%	+0.51%	+18.69%
17	ELE	Elemental Royalty CORP	Stock-Other	1.82%	+1.60%	+522.64%
18	RNA	Atrium Therapeutics INC	Stock-Other	1.76%	+1.76%	NEW
19	LILA	Liberty Latin America Ltd.	Stock-Other	1.56%	+0.25%	-13.93%
20	MTG	Mgic Investment CORP	Stock-Financials	1.31%	+0.26%	+17.57%
21	TFPM	Triple Flag Precious Met	Stock-Materials	1.16%	-0.01%	-18.78%
22	NMM	Navios Maritime Partners L.P.	Stock-Other	0.96%	+0.33%	—
23	✓	Liberty Latin America LTD Com Cl A	Stock-Other	0.81%	+0.22%	—
24	MET	Metlife INC	Stock-Financials	0.81%	+0.43%	+100.00%
25	AAPL	Apple INC	Stock-Tech	0.71%	+0.06%	—
26	CWBC	Community West Bancshares	Stock-Other	0.59%	+0.11%	—
27	WFRD	Weatherford International plc	Stock-Energy	0.54%	+0.16%	—
28	OPRT	Oportun Financial CORP	Stock-Other	0.51%	+0.15%	+36.14%
29	MSFT	Microsoft CORP	Stock-Tech	0.42%	+0.42%	NEW
30	NODK	Ni Holdings INC	Stock-Other	0.38%	+0.05%	—
31	AVBC	Avidia Bancorp INC	Stock-Other	0.37%	+0.10%	—
32	VOXR	Vox Royalty CORP	Stock-Other	0.37%	+0.09%	—
33	MRT	Marti Technologies INC	Stock-Other	0.33%	+0.06%	+24.49%
34	LEN-B	Lennar CORP - B Shs	Stock-Other	0.27%	+0.01%	—
35	OLN	Olin CORP	Stock-Materials	0.22%	+0.09%	—
36	OABI	Omniab INC	Stock-Other	0.17%	—	—
37	GROY	Gold Royalty CORP	Stock-Other	0.16%	+0.01%	—
38	TRC	Tejon Ranch Co	Stock-Other	0.14%	+0.03%	-5.45%
39	MTA	Metalla Royalty & Streaming	Stock-Other	0.13%	—	—
40	DVN	Devon Energy CORP	Stock-Energy	0.12%	-0.04%	-55.56%
41	MLCI	Mount Logan Capital INC	Stock-Other	0.07%	-0.07%	—
42	BUR	Burford Capital Limited	Stock-Other	0.07%	+0.07%	NEW
43	BTG	B2gold CORP	Stock-Other	0.06%	—	—
44	CLPR	Clipper Realty INC	Stock-Other	0.04%	—	—

Portfolio Performance

Performance for Q3 2026

—

Performance Last 4 Quarters

—

Based on 35% of reported portfolio value with available pricing

Stdev: +24.6%
Beta: +1.3
Alpha: -23.3%
Max Drawdown: -13.9%
Annualized Perf: -14.2%
Batting Avg vs S&P: +14.3%
Sortino: -0.81
Stutzer: -0.16
Treynor: -0.1
Sterling: —
Calmar: -1.02
Information Ratio: -2.2
Tracking Error: +9.5%
Stdev Down: +15.8%
Winning Months %: +42.9%
Losing Months %: +57.1%
Best 12 Months: —
Worst 12 Months: —
Efficiency Ratio: +0.22
Sharpe: -0.52
Stdev Sectors: +17.1%
Skewness: +1.02
Kurtosis: -0.1
Upside Potential: +1.74

Reported value over time

Sector allocation

Sector allocation over time

Quarterly history

Period	Holdings	Total value	Stability	Top holdings
2026-03-31	45	$174.5M	44	1GRAL 2TSLA 3GEF-B Top holdings2026-03-31 1.GRAL 2.TSLA 3.GEF-B 4.ODV 5.CRBG 6.STXS 7.OPY 8.SNDA 9.SPNT 10.CBL
2025-12-31	49	$205.2M	30	1GRAL 2GEF-B 3TSLA Top holdings2025-12-31 1.GRAL 2.GEF-B 3.TSLA 4.CRBG 5.SHG 6.STXS 7.SNDA 8.ARVN 9.GOOGL 10.CBL
2025-09-30	40	$167.4M	84	1GRAL 2TSLA 3GEF-B Top holdings2025-09-30 1.GRAL 2.TSLA 3.GEF-B 4.STXS 5.SHG 6.SNDA 7.CRBG 8.GNW 9.GOOGL 10.OPY
2025-06-30	30	$113.6M	0	1GRAL 2GEF-B 3CRBG Top holdings2025-06-30 1.GRAL 2.GEF-B 3.CRBG 4.STXS 5.SNDA 6.SPNT 7.OPY 8.GOOGL 9.GNW 10.LILA
2025-03-31	34	$138.4M	100	1TSLA 2GRAL 3GEF-B Top holdings2025-03-31 1.TSLA 2.GRAL 3.GEF-B 4.SNDA 5.CRBG 6.STXS 7.SPNT 8.OPY 9.ABR 10.LILA
2024-12-31	29	$161.8M	0	1TSLA 2GRAL 3GEF-B Top holdings2024-12-31 1.TSLA 2.GRAL 3.GEF-B 4.SNDA 5.STXS 6.CRBG 7.ABR 8.SPNT 9.OPY 10.LILA
2024-09-30	28	$113.4M	0	1TSLA 2GEF-B 3SNDA Top holdings2024-09-30 1.TSLA 2.GEF-B 3.SNDA 4.ABR 5.STXS 6.GRAL 7.LILA 8.CRBG 9.MTG 10.ARKK
2024-06-30	33	$100.1M	0	1TSLA 2GEF-B 3SNDA Top holdings2024-06-30 1.TSLA 2.GEF-B 3.SNDA 4.ABR 5.STXS 6.LILA 7.CRBG 8.GRAL 9.LH 10.MTG
2024-03-31	34	$79.4M	0	1SNDA 2GEF-B 3STXS Top holdings2024-03-31 1.SNDA 2.GEF-B 3.STXS 4.ABR 5.TSLA 6.DLR 7.ARKK 8.LILA 9.CRBG 10.50540R
2023-12-31	45	$87.9M	0	1GEF-B 2TSLA 3DLR Top holdings2023-12-31 1.GEF-B 2.TSLA 3.DLR 4.SNDA 5.JXN 6.STXS 7.CLX 8.ARKK 9.ABR 10.LILA
2023-09-30	45	$78.3M	0	1GEF-B 2SNDA 3LILA Top holdings2023-09-30 1.GEF-B 2.SNDA 3.LILA 4.JXN 5.STXS 6.TSLA 7.50540R 8.CLX 9.SPWH 10.DLR
2023-06-30	45	$93.4M	0	1GEF-B 2LILA 3SNDA Top holdings2023-06-30 1.GEF-B 2.LILA 3.SNDA 4.DLR 5.TSLA 6.CLX 7.BYND 8.STXS 9.SPWH 10.50540R
2023-03-31	43	$107.0M	0	1GEF-B 2LILA 3ARKK Top holdings2023-03-31 1.GEF-B 2.LILA 3.ARKK 4.BYND 5.JXN 6.SNDA 7.SPWH 8.STXS 9.NWLIEUR 10.NVO
2022-12-31	47	$115.8M	0	1GEF-B 2LILA 3TSLA Top holdings2022-12-31 1.GEF-B 2.LILA 3.TSLA 4.LEN-B 5.JXN 6.SNDA 7.SPWH 8.IWO 9.NWLIEUR 10.STXS
2022-09-30	39	$156.9M	0	1TSLA 2IWO 3GEF-B Top holdings2022-09-30 1.TSLA 2.IWO 3.GEF-B 4.SNDA 5.LILA 6.LEN-B 7.SPWH 8.JXN 9.STXS 10.CLX
2022-06-30	33	$160.8M	0	1TSLA 2COWNEUR 3GEF-B Top holdings2022-06-30 1.TSLA 2.COWNEUR 3.GEF-B 4.SNDA 5.LILA 6.SPWH 7.LEN-B 8.STXS 9.JXN 10.NWLIEUR
2022-03-31	33	$190.4M	0	1TSLA 2COWNEUR 3SNDA Top holdings2022-03-31 1.TSLA 2.COWNEUR 3.SNDA 4.GEF-B 5.LILA 6.JXN 7.WRKUSD 8.STXS 9.LEN-B 10.BYND
2021-12-31	36	$823.8M	0	1TSLA 2COWNEUR 3SNDA Top holdings2021-12-31 1.TSLA 2.COWNEUR 3.SNDA 4.GEF-B 5.STXS 6.LILA 7.JXN 8.LEN-B 9.BYND 10.C
2021-09-30	36	$636.3M	0	1TSLA 2COWNEUR 3GEF-B Top holdings2021-09-30 1.TSLA 2.COWNEUR 3.GEF-B 4.LILA 5.STXS 6.WRKUSD 7.SNDA 8.JXN 9.LEN-B 10.BYND
2021-06-30	33	$601.3M	100	1TSLA 2COWNEUR 3STXS Top holdings2021-06-30 1.TSLA 2.COWNEUR 3.STXS 4.LILA 5.GEF-B 6.SNDA 7.WRKUSD 8.ANAT1USD 9.BYND 10.LEN-B
2021-03-31	43	$1.4B	58	1TSLA 2COWNEUR 3STXS Top holdings2021-03-31 1.TSLA 2.COWNEUR 3.STXS 4.WRKUSD 5.LILA 6.GEF-B 7.TRUP 8.SNDA 9.LEN-B 10.CITUSD
2020-12-31	46	$831.2M	100	1TSLA 2COWNEUR 3TRUP Top holdings2020-12-31 1.TSLA 2.COWNEUR 3.TRUP 4.STXS 5.CITUSD 6.WRKUSD 7.LNC 8.GEF-B 9.LILA 10.BYND
2020-09-30	50	$2.2B	61	1TSLA 2COWNEUR 3ASHR Top holdings2020-09-30 1.TSLA 2.COWNEUR 3.ASHR 4.MSI 5.TRUP 6.STXS 7.GEF-B 8.LILA 9.CITUSD 10.WRKUSD
2020-06-30	49	$1.3B	67	1TSLA 2MSI 3COWNEUR Top holdings2020-06-30 1.TSLA 2.MSI 3.COWNEUR 4.ASHR 5.STXS 6.GEF-B 7.CITUSD 8.LNC 9.LEN-B 10.NMI1EUR
2020-03-31	52	$671.9M	28	1TSLA 2MSI 3ASHR Top holdings2020-03-31 1.TSLA 2.MSI 3.ASHR 4.BMI 5.COWNEUR 6.STXS 7.GEF-B 8.NMI1EUR 9.LNC 10.LEN-B
2019-12-31	43	$689.2M	81	1TSLA 2MSI 3COWNEUR Top holdings2019-12-31 1.TSLA 2.MSI 3.COWNEUR 4.BMI 5.STXS 6.ASHR 7.GEF-B 8.CSUUSD 9.LEN-B 10.LNC
2019-09-30	51	$549.5M	18	1MSI 2TSLA 3LULU Top holdings2019-09-30 1.MSI 2.TSLA 3.LULU 4.COWNEUR 5.CSUUSD 6.STXS 7.GEF-B 8.ASHR 9.L5140P 10.CMG
2019-06-30	54	$515.9M	33	1MSI 2TSLA 3COWNEUR Top holdings2019-06-30 1.MSI 2.TSLA 3.COWNEUR 4.LULU 5.CSUUSD 6.GEF-B 7.L5140P 8.GS 9.LNC 10.KTB
2019-03-31	46	$495.5M	62	1TSLA 2MSI 3COWNEUR Top holdings2019-03-31 1.TSLA 2.MSI 3.COWNEUR 4.LULU 5.GEF-B 6.CSUUSD 7.CLX 8.L5140P 9.HRL 10.T
2018-12-31	57	$895.5M	47	1TSLA 2MSI 3IWM Top holdings2018-12-31 1.TSLA 2.MSI 3.IWM 4.CSUUSD 5.GEF-B 6.QNDX 7.COWNEUR 8.HRL 9.LULU 10.CMG
2018-09-30	64	$1.0B	24	1TSLA 2MSI 3IWM Top holdings2018-09-30 1.TSLA 2.MSI 3.IWM 4.CSUUSD 5.GEF-B 6.COWNEUR 7.L5140P 8.LULU 9.CITUSD 10.MCK
2018-06-30	62	$1.0B	34	1TSLA 2MSI 3CSUUSD Top holdings2018-06-30 1.TSLA 2.MSI 3.CSUUSD 4.IWM 5.GEF-B 6.COWNEUR 7.LULU 8.L5140P 9.CITUSD 10.MCK
2018-03-31	63	$827.9M	30	1TSLA 2MSI 3CSUUSD Top holdings2018-03-31 1.TSLA 2.MSI 3.CSUUSD 4.GEF-B 5.IWM 6.L5140P 7.COWNEUR 8.JBGS 9.VSTOEUR 10.CITUSD
2017-12-31	70	$898.0M	41	1TSLA 2MSI 3CSUUSD Top holdings2017-12-31 1.TSLA 2.MSI 3.CSUUSD 4.GEF-B 5.IWM 6.COWNEUR 7.L5140P 8.JBGS 9.CITUSD 10.MCK
2017-09-30	83	$896.5M	32	1TSLA 2MSI 3CSUUSD Top holdings2017-09-30 1.TSLA 2.MSI 3.CSUUSD 4.GEF-B 5.GLD 6.PXDEUR 7.COWNEUR 8.L5140P 9.VSTOEUR 10.CITUSD
2017-06-30	83	$815.7M	37	1TSLA 2CSUUSD 3GEF-B Top holdings2017-06-30 1.TSLA 2.CSUUSD 3.GEF-B 4.GLD 5.PXDEUR 6.COWNEUR 7.VSTOEUR 8.C 9.REFI 10.MCK
2017-03-31	84	$775.1M	48	1TSLA 2CSUUSD 3GEF-B Top holdings2017-03-31 1.TSLA 2.CSUUSD 3.GEF-B 4.C 5.PXDEUR 6.GLD 7.TPLUSD 8.L5140P 9.EXTR 10.COWNEUR
2016-12-31	82	$596.3M	64	1TSLA 2CSUUSD 3PXDEUR Top holdings2016-12-31 1.TSLA 2.CSUUSD 3.PXDEUR 4.GEF-B 5.C 6.GLD 7.TPLUSD 8.GILD 9.EXTR 10.COWNEUR
2016-09-30	88	$840.9M	27	1IWM 2TSLA 3PXDEUR Top holdings2016-09-30 1.IWM 2.TSLA 3.PXDEUR 4.GEF-B 5.CSUUSD 6.GLD 7.C 8.VXX 9.TPLUSD 10.REFI
2016-06-30	91	$774.5M	72	1IWM 2TSLA 3PXDEUR Top holdings2016-06-30 1.IWM 2.TSLA 3.PXDEUR 4.CSUUSD 5.GEF-B 6.GLD 7.C 8.REFI 9.TPLUSD 10.FCNCA
2016-03-31	100	$534.8M	52	1TSLA 2CSUUSD 3GEF-B Top holdings2016-03-31 1.TSLA 2.CSUUSD 3.GEF-B 4.C 5.REFI 6.VXX 7.PFE 8.TPLUSD 9.AMKR 10.LEN-B
2015-12-31	114	$780.6M	46	1AMZN 2TSLA 3CSUUSD Top holdings2015-12-31 1.AMZN 2.TSLA 3.CSUUSD 4.C 5.GEF-B 6.AMKR 7.VXX 8.345605 9.EXTR 10.MU
2015-09-30	124	$1.0B	29	1AMZN 2TSLA 3CSUUSD Top holdings2015-09-30 1.AMZN 2.TSLA 3.CSUUSD 4.C 5.GEF-B 6.L5140P 7.VXX 8.MU 9.DVN 10.345550
2015-06-30	128	$1.1B	49	1TSLA 2AMZN 3C Top holdings2015-06-30 1.TSLA 2.AMZN 3.C 4.CSUUSD 5.L5140P 6.DVN 7.GEF-B 8.PFE 9.ASHR 10.345550
2015-03-31	122	$1.2B	47	1AMZN 2TSLA 3C Top holdings2015-03-31 1.AMZN 2.TSLA 3.C 4.CSUUSD 5.GEF-B 6.NFLX 7.DVN 8.EQIX 9.CCL1EUR 10.345550
2014-12-31	127	$1.1B	40	1TSLA 2AMZN 3DVN Top holdings2014-12-31 1.TSLA 2.AMZN 3.DVN 4.CSUUSD 5.GEF-B 6.C 7.EQIX 8.9990302D 9.NFLX 10.CCL1EUR
2014-09-30	121	$1.0B	29	1TSLA 2DVN 3EQIX Top holdings2014-09-30 1.TSLA 2.DVN 3.EQIX 4.C 5.HIG 6.9990302D 7.NFLX 8.AXP 9.GEF-B 10.CSUUSD
2014-06-30	125	$1.0B	40	1TSLA 2DVN 3EQIX Top holdings2014-06-30 1.TSLA 2.DVN 3.EQIX 4.GEF-B 5.AXP 6.HIG 7.C 8.9990302D 9.NFLX 10.CSUUSD
2014-03-31	118	$893.7M	45	1TSLA 2DVN 3AXP Top holdings2014-03-31 1.TSLA 2.DVN 3.AXP 4.EQIX 5.GEF-B 6.C 7.CSUUSD 8.XOM 9.AGO 10.XRX
2013-12-31	109	$726.6M	81	1AXP 2DVN 3GEF-B Top holdings2013-12-31 1.AXP 2.DVN 3.GEF-B 4.CSUUSD 5.XRX 6.EQIX 7.XOM 8.AGO 9.C 10.USA
2013-09-30	97	$417.5M	67	1GEF-B 2CSUUSD 3XRX Top holdings2013-09-30 1.GEF-B 2.CSUUSD 3.XRX 4.AGO 5.USA 6.345550 7.OSG 8.USA 9.STX 10.00674E
2013-06-30	88	$673.7M	—	1GS 2GEF-B 3DVN Top holdings2013-06-30 1.GS 2.GEF-B 3.DVN 4.STX 5.USA 6.CSUUSD 7.XRX 8.NEM 9.AGO 10.MSFT

Holding changes this quarter

Position changes disclosed by Arbiter Partners Capital Management LLC for the quarter ending 2026-03-31, including ticker, issuer, weight change, shares change, and action
#	Ticker	Issuer	Weight Change	Shares Change	Action
1	TSLA	Tesla INC	+4.2%	+71.53%	Add
2	GEF-B	Greif Inc-cl B	+2.6%	-1.02%	Trim
3	ODV	Osisko Development CORP	+2.3%	+122.58%	Add
4	ELE	Elemental Royalty CORP	+1.6%	+522.64%	Add
5	NAVI	Navient CORP	+1.4%	+230.48%	Add
6	TBN	Tamboran Resources CORP	+1.2%	+17.48%	Add
7	VET	Vermilion Energy INC	+1%	—	Unchanged
8	OPY	Oppenheimer Holdings-cl A	+0.9%	—	Unchanged
9	ABR	Arbor Realty Trust INC	+0.5%	+18.69%	Add
10	MET	Metlife INC	+0.4%	+100.00%	Add
11	SPNT	SiriusPoint Ltd.	+0.3%	—	Unchanged
12	NMM	Navios Maritime Partners L.P.	+0.3%	—	Unchanged
13	MTG	Mgic Investment CORP	+0.3%	+17.57%	Add
14	LILA	Liberty Latin America Ltd.	+0.3%	-13.93%	Trim
15	CBL	Cbl & Associates Properties	+0.2%	-9.15%	Trim
16	✓	Liberty Latin America LTD Com Cl A	+0.2%	—	Unchanged
17	WFRD	Weatherford International plc	+0.2%	—	Unchanged
18	OPRT	Oportun Financial CORP	+0.2%	+36.14%	Add
19	GNW	Genworth Financial INC	+0.1%	—	Unchanged
20	CWBC	Community West Bancshares	+0.1%	—	Unchanged
21	AVBC	Avidia Bancorp INC	+0.1%	—	Unchanged
22	OLN	Olin CORP	+0.1%	—	Unchanged
23	VOXR	Vox Royalty CORP	+0.1%	—	Unchanged
24	AAPL	Apple INC	+0.1%	—	Unchanged
25	MRT	Marti Technologies INC	+0.1%	+24.49%	Add
26	NODK	Ni Holdings INC	+0.1%	—	Unchanged
27	TRC	Tejon Ranch Co	0%	-5.45%	Trim
28	LEN-B	Lennar CORP - B Shs	0%	—	Unchanged
29	GROY	Gold Royalty CORP	0%	—	Unchanged
30	OABI	Omniab INC	—	—	Unchanged
31	MTA	Metalla Royalty & Streaming	—	—	Unchanged
32	CLPR	Clipper Realty INC	—	—	Unchanged
33	TFPM	Triple Flag Precious Met	0%	-18.78%	Trim
34	DVN	Devon Energy CORP	0%	-55.56%	Trim
35	MLCI	Mount Logan Capital INC	-0.1%	—	Unchanged
36	SNDA	Sonida Senior Living INC	-0.1%	-16.73%	Trim
37	STXS	Stereotaxis INC	-0.2%	—	Unchanged
38	GOOGL	Alphabet Inc-cl A	-0.6%	-27.22%	Trim
39	CRBG	Corebridge Financial INC	-0.8%	-13.48%	Trim
40	GRAL	Grail INC	-12.6%	-0.10%	Trim
41	SHG	Shinhan Financial Group-adr	—	EXIT	Sold out
42	ARVN	Arvinas INC	—	EXIT	Sold out
43	RNA	Atrium Therapeutics INC	—	NEW	New buy
44	MSFT	Microsoft CORP	—	NEW	New buy
45	LESL	Leslie's INC	—	EXIT	Sold out
46	✓		—	EXIT	Sold out
47	RITM	Rithm Capital CORP	—	EXIT	Sold out
48	SENEA	Seneca Foods CORP - Cl A	—	EXIT	Sold out
49	BUR	Burford Capital Limited	—	NEW	New buy
50	LRE	Lead Real Estate Co LTD	—	EXIT	Sold out