Paul Isaac

Net buying

Arbiter Partners Capital Management LLC — managed by Paul Isaac; US equity positions disclosed quarterly via SEC 13F

Data as of 2026-06-30 (filed 2026-08-10) · Source: SEC EDGAR

Portfolio value$180.5M (+22%)

Holdings39 (−1)

Top holdingGrail Inc

Below band2

New

Added

Exited

By what price implies: 4 demand a demanding growth rate, 4 modest.

13F × valuation

Valuation posture

Of 7 valued US positions, 2 trade below a conservative value band (as of 2026-09-02):

Mgic Investment CorpMTG8% · below
Siriuspoint LtdSPNT5% · below

13F · concentration

Lonely conviction

Held by ≤2 tracked superinvestors, each ≥3% of this portfolio (as of 2026-06-30):

SEC 13F · latest filing

Holdings

Security	Value	Valuation	Holders	Shares	Weight	Signal
Grail IncGRAL	$70.6M	—	1	1,034,297	39.1%	Core 8q
Greif Inc-Cl BGEF.B	$18.1M	—	1	193,771	10.0%	Core 8q
Corebridge Financial IncCRBG	$11.4M	—	7	397,155	6.3%	Big new
Sonida Senior Living IncSNDA	$10.7M	—	1	265,183	6.0%	Big new
Tesla IncTSLAPUT	$8.7M	—	—	20,600	—	—
Oppenheimer Holdings-Cl AOPY	$7.0M	—	2	66,599	3.9%	Big new
Siriuspoint LtdSPNT	$5.8M	Below value	2	242,532	3.2%	Big new
Cbl & Associates PropertiesCBL	$5.8M	—	1	109,244	3.2%	—
Navient CorpNAVI	$5.6M	—	1	662,548	3.1%	Adding 4q
Osisko Development Corp	$5.3M	—	—	2,162,496	2.9%	Adding 4q
Genworth Financial IncGNW	$5.1M	—	3	540,124	2.8%	No trim 6q
Shinhan Financial Group-AdrSHG	$4.2M	—	4	67,169	2.4%	—
Atrium Therapeutics IncRNA	$3.5M	—	1	261,288	1.9%	—
Elemental Royalty CorpELE	$2.9M	—	1	168,317	1.6%	—
Vermilion Energy IncVET	$2.5M	—	1	266,738	1.4%	No trim 4q
Mgic Investment CorpMTG	$2.5M	Below value	2	87,000	1.4%	No trim 8q
Arvinas IncARVN	$2.4M	—	1	294,594	1.4%	—
Liberty Latin Americ-Cl CLILAK	$2.3M	—	2	299,048	1.3%	—
Tamboran Resources CorpTBN	$2.2M	—	2	67,212	1.2%	—
Triple Flag Precious MetTFPM	$1.8M	—	2	58,476	1.0%	—
Navios Maritime Partners LpNMM	$1.7M	—	1	24,800	1.0%	—
Community West BancsharesCWBC	$1.4M	—	1	52,064	0.8%	—
Liberty Latin Americ-Cl ALILA	$1.3M	—	2	164,481	0.7%	—
Ni Holdings IncNODK	$983,320	—	1	62,592	0.5%	—
Weatherford International PlWFRD	$815,000	—	4	10,000	0.5%	—

Grail IncGRALCore 8q
Value$70.6MValuation—Holders1Weight39.1%
Greif Inc-Cl BGEF.BCore 8q
Value$18.1MValuation—Holders1Weight10.0%
Corebridge Financial IncCRBGBig new
Value$11.4MValuation—Holders7Weight6.3%
Sonida Senior Living IncSNDABig new
Value$10.7MValuation—Holders1Weight6.0%
Tesla IncTSLAPUT—
Value$8.7MValuation—Holders—Weight—
Oppenheimer Holdings-Cl AOPYBig new
Value$7.0MValuation—Holders2Weight3.9%
Siriuspoint LtdSPNTBig new
Value$5.8MValuationBelow valueHolders2Weight3.2%
Cbl & Associates PropertiesCBL—
Value$5.8MValuation—Holders1Weight3.2%
Navient CorpNAVIAdding 4q
Value$5.6MValuation—Holders1Weight3.1%
Osisko Development CorpAdding 4q
Value$5.3MValuation—Holders—Weight2.9%
Genworth Financial IncGNWNo trim 6q
Value$5.1MValuation—Holders3Weight2.8%
Shinhan Financial Group-AdrSHG—
Value$4.2MValuation—Holders4Weight2.4%
Atrium Therapeutics IncRNA—
Value$3.5MValuation—Holders1Weight1.9%
Elemental Royalty CorpELE—
Value$2.9MValuation—Holders1Weight1.6%
Vermilion Energy IncVETNo trim 4q
Value$2.5MValuation—Holders1Weight1.4%
Mgic Investment CorpMTGNo trim 8q
Value$2.5MValuationBelow valueHolders2Weight1.4%
Arvinas IncARVN—
Value$2.4MValuation—Holders1Weight1.4%
Liberty Latin Americ-Cl CLILAK—
Value$2.3MValuation—Holders2Weight1.3%
Tamboran Resources CorpTBN—
Value$2.2MValuation—Holders2Weight1.2%
Triple Flag Precious MetTFPM—
Value$1.8MValuation—Holders2Weight1.0%
Navios Maritime Partners LpNMM—
Value$1.7MValuation—Holders1Weight1.0%
Community West BancsharesCWBC—
Value$1.4MValuation—Holders1Weight0.8%
Liberty Latin Americ-Cl ALILA—
Value$1.3MValuation—Holders2Weight0.7%
Ni Holdings IncNODK—
Value$983,320Valuation—Holders1Weight0.5%
Weatherford International PlWFRD—
Value$815,000Valuation—Holders4Weight0.5%

Showing top 25 of 41 positions

Exited this quarter (4)Stereotaxis Inc、Microsoft Corp、Alphabet Inc-Cl A、Devon Energy Corp

What is a superinvestor

About this investor

Portfolio overview

Arbiter Partners Capital Management LLC's most recent 13F filing, for the quarter ended 2026-06-30, reports 39 positions worth $180.5M. The top 5 holdings represent 65% of that value, a concentrated portfolio.

The single largest position is Grail Inc at 39.1% of the portfolio, followed by Greif Inc-Cl B at 10.0% and Corebridge Financial Inc at 6.3%.

Against the prior quarter, Paul Isaac opened 3 new positions, exited 4, added to 11, and trimmed 5. The largest new buy was Shinhan Financial Group-Adr. The most notable sale was the full exit from Stereotaxis Inc.

Across all 8 quarters on file, Grail Inc has appeared in every filing, as has Greif Inc-Cl B. Grail Inc currently ranks first by value.

A 13F is filed roughly 45 days after quarter-end and covers only long positions in US-listed equities, so it is a lagging and partial view of the portfolio. Source: SEC EDGAR.

Paul Isaac has no positions in the strike zone right now. Browse the whole market by value band

Sources· SEC EDGAR 13F as of 2026-06-30 · filed 2026-08-10

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