9AT: ARBITER PARTNERS

other names

ARBITER PARTNERS
FORT HOOSAC MANAGEMENT, LLC
FORT HOOSAC MANAGEMENT, L.L.C.
BROKEN CLOCK MANAGEMENT, L.L.C. (RELYING ADVISOR)
ARBITER PARTNERS CAPITAL MANAGEMENT, LLC

Adviser Profile

As of Date	04/24/2025
Registration	SEC, Approved, 02/22/2011
ADV Location	NEW YORK, NY, United States
Contact Info	212 xxxxxxx
Websites

AUM^*	778,600,000 13%
of that, discretionary	778,600,000 83%
Private Fund GAV^*	366,400,000
Avg Account Size	38,930,000 24%
% High Net Worth	55.00% -7%
SMA’s	Yes
Private Funds	7 1

Adviser Type

- Large advisory firm

Number of Employees 12

of those in investment advisory functions 7

Client Types

- High net worth individuals
- Pooled investment vehicles
- Charitable organizations
- Other investment advisers

Advisory Activities

- Portfolio management for individuals and/or small businesses
- Portfolio management for pooled investment vehicles
- Portfolio management for businesses

Compensation Arrangments

- A percentage of assets under your management
- Performance-based fees

SEC Fund Type	Count	GAV
Fund TypeHedge Fund	Count7	GAV$366,400,000

Adviser	Hedge Fund	Liquidity Fund	Private Equity Fund	Real Estate Fund	Securitized Asset Fund	Venture Capital Fund	Other Fund	Total Private Fund GAV	AUM	#Funds
Adviser SPEARHEAD ADMINISTRATIVE SERVICES, LLC	Hedge Fund920.5m	Liquidity Fund-	Private Equity Fund150.0m	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund-	Total Private Fund GAV1.1b	AUM2.2b	#Funds15
Adviser BLACKSTONE ALTERNATIVE ASSET MANAGEMENT L.P.	Hedge Fund17.5b	Liquidity Fund-	Private Equity Fund-	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund60.3b	Total Private Fund GAV77.7b	AUM78.0b	#Funds125
Adviser AXIOM INVESTORS	Hedge Fund312.7m	Liquidity Fund-	Private Equity Fund-	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund2.5b	Total Private Fund GAV2.8b	AUM24.5b	#Funds12
Adviser SOUTHEAST ASSET ADVISORS, LLC	Hedge Fund-	Liquidity Fund-	Private Equity Fund217.3m	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund168.9m	Total Private Fund GAV386.2m	AUM3.7b	#Funds9
Adviser MFS INSTITUTIONAL ADVISORS INC.	Hedge Fund529.7m	Liquidity Fund-	Private Equity Fund-	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund942.1m	Total Private Fund GAV1.5b	AUM111.8b	#Funds7
Adviser AON INVESTMENTS USA INC.	Hedge Fund1.3b	Liquidity Fund-	Private Equity Fund30.5m	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund806.1m	Total Private Fund GAV2.1b	AUM136.4b	#Funds10
Adviser ARNHOLD LLC	Hedge Fund1.8b	Liquidity Fund-	Private Equity Fund-	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund563.3m	Total Private Fund GAV2.3b	AUM5.2b	#Funds10
Adviser NATIONAL INVESTMENT SERVICES OF AMERICA, LLC	Hedge Fund903.5m	Liquidity Fund-	Private Equity Fund-	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund5.2b	Total Private Fund GAV6.1b	AUM12.9b	#Funds12
Adviser T. ROWE PRICE INTERNATIONAL LTD	Hedge Fund-	Liquidity Fund-	Private Equity Fund-	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund-	Total Private Fund GAV-	AUM249.0b	#Funds-
Adviser THOMPSON SIEGEL & WALMSLEY LLC	Hedge Fund206.5m	Liquidity Fund-	Private Equity Fund-	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund1.6m	Total Private Fund GAV208.1m	AUM20.8b	#Funds8

Stock Ticker	Stock Name	$ Position	% Position	$ Change	# Change
Stck Ticker384747101	Stock NameGRAIL INC	$ Position$61,252,590	% Position37.00%	$ Change15.00%	# Change0.00%
Stck Ticker88160R101	Stock NameTESLA INC (PUT)	$ Position$14,453,400	% Position9.00%	$ Change	# Change
Stck Ticker397624206	Stock NameGREIF INC-CL B	$ Position$12,139,203	% Position7.00%	$ Change-11.00%	# Change0.00%
Stck Ticker85916J409	Stock NameSTEREOTAXIS INC	$ Position$8,875,492	% Position5.00%	$ Change47.00%	# Change0.00%
Stck Ticker140475203	Stock NameSONIDA SENIOR LIVING INC	$ Position$6,066,050	% Position4.00%	$ Change9.00%	# Change-3.00%
Stck Ticker824596100	Stock NameSHINHAN FINANCIAL GROUP-ADR	$ Position$6,909,203	% Position4.00%	$ Change286.00%	# Change246.00%
Stck Ticker21871X109	Stock NameCOREBRIDGE FINANCIAL INC	$ Position$6,046,392	% Position4.00%	$ Change-10.00%	# Change0.00%
Stck Ticker37247D106	Stock NameGENWORTH FINANCIAL INC	$ Position$4,337,860	% Position3.00%	$ Change61.00%	# Change41.00%
Stck Ticker124830878	Stock NameCBL & ASSOCIATES PROPERTIES	$ Position$2,952,897	% Position2.00%	$ Change	# Change
Stck Ticker02079K305	Stock NameALPHABET INC-CL A	$ Position$2,917,200	% Position2.00%	$ Change38.00%	# Change0.00%

Brochure Summary

Overview

Paul J. Isaac is the founder, majority principal, and portfolio manager of Arbiter Partners Capital Management, LLC (“Arbiter Partners”). Arbiter Partners was formed in January 2007 and is the investment manager to multiple investment funds operated under the Arbiter name. However, our operations predate the formation of Arbiter Partners and our first fund was founded in 2001. Our funds are opportunistic, investing primarily in equities, fixed income, and derivatives using a variety of long / short strategies. The goal is to maximize long-term capital appreciation. The investments are generally global in scope and are made across a range of instruments, including the occasional ETF, closed end mutual fund, and private placement. We have a global financials fund that is primarily long equities and concentrated in a single sector. We also offer special opportunity funds, which are long only and focus on investments in the securities of a single corporate complex, and accordingly, are concentrated investments involving a smaller range of instruments. As of January 1, 2024, our advised funds had approximately $345 million under management on a discretionary basis. At the beginning of 2013, Arbiter Partners began offering advisory services to certain large clients through separately

managed accounts. These accounts pursue similar investment objectives to our funds and seek long-term capital appreciation through investment programs similar to our primary and/or special opportunity funds. They may invest in parallel to our funds. These accounts had approximately $81 million under management as of January 1, 2024. Arbiter Partners also provides management and certain administrative services to various accounts controlled by Mr. Isaac or his family and to certain trusts related to his family (the “Isaac Accounts”). These accounts have considerable overlap in strategies to the Arbiter funds, except that they are generally long-only, use few or no derivatives, and are willing to accept greater illiquidity, country and interim price risk. Other than through the agreements that control our separately managed account relationships and the agreements entered into on behalf of our single investor funds, we do not generally tailor advisory services to the individual needs of a client or an investor. In the context of these agreements Arbiter Partners has agreed to modify the investment program of such accounts and funds to facilitate specific client or investor requests, and we may do so in the future. We do not currently participate in any wrap fee programs.

ARBITER PARTNERS

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