# EDGAR Filing Document

**Accession Number:** 0001513193
**File Stem:** 0001062993-25-014407
**Filing Date:** 2025-8
**Character Count:** 24958
**Document Hash:** 8a4f6389d9a90c5410a294cfccd83453
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001062993-25-014407.hdr.sgml**: 20250814

**ACCESSION NUMBER**: 0001062993-25-014407

**CONFORMED SUBMISSION TYPE**: N-PX

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20250630

**FILED AS OF DATE**: 20250814

**EFFECTIVENESS DATE**: 20250814

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Arbiter Partners Capital Management LLC
- **CENTRAL INDEX KEY:** 0001513193

**ORGANIZATION NAME:**
- **EIN:** 273380922
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** N-PX
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 028-14499
- **FILM NUMBER:** 251217437

**BUSINESS ADDRESS:**
- **STREET 1:** 530 FIFTH AVENUE, 20TH FLOOR
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10036
- **BUSINESS PHONE:** 212-650-4660

**MAIL ADDRESS:**
- **STREET 1:** 530 FIFTH AVENUE, 20TH FLOOR
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10036

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** Fort Hoosac Management, LLC
- **DATE OF NAME CHANGE:** 20110215

## FORM N-PX
### ANNUAL REPORT OF PROXY VOTING RECORD

## N-PX: Filer Information

**Filer CIK:** 0001513193

**Date of Report:** 06/30/2025

**Are you a Registered Management Investment Company or an Institutional Manager?:** Institutional Manager

**Is this a LIVE or TEST Filing?:** LIVE

**Is this an electronic copy of an official filing submitted in paper format?:** [ ]

### Submission Contact Information
_Not provided in this filing._

### Notification Information
**Notify via Filing Website only?:** [ ]

## N-PX: Cover Page

**Name of reporting person:** Arbiter Partners Capital Management LLC

**Address:** 530 Fifth Avenue, 20th Floor, New York, NY 10036

**Telephone number:** 212-452-9119

**Name of agent for service:** —

**Agent Address:** —, —, — —

**Reporting Period:** Report for the year ended 06/30/2025

**SEC File Number:** 028-14499

**CRD Number (if any):** —

**Other SEC File Number (if any):** —

**LEI (if any):** —

**Report Type (check only one):**

Institutional Manager.

- [x] Institutional Manager Voting Report

- [ ] Institutional Manager Notice Report

- [ ] Institutional Manager Combination Report

Registered Management Investment Company.

- [ ] Fund Voting Report

- [ ] Fund Notice Report

**Do you wish to provide explanatory information pursuant to Special Instruction B.4?:**

- [x] No

- [ ] Yes

**Additional information:** —

## N-PX: Summary - Included Managers

**Number of Included Institutional Managers:** 0

**Included Institutional Managers:** —

## FORM N-PX PROXY VOTING RECORD

| NAME OF ISSUER                  | CUSIP     | MEETING DATE   | VOTE DESCRIPTION                                                                                                                                                                                                                                                                                                                                                       | VOTE CATEGORY                |   SHARES VOTED |   SHARES ON LOAN | HOW VOTED   | SHARES VOTED FOR OR AGAINST MANAGEMENT   | FOR OR AGAINST MANAGEMENT   | OTHER INFO   |
|:---|:---|:---|:---|:---|---:|---:|:---|:---|:---|:---|
| Kewaunee Scientific Corporation | 492854104 | 08/28/2024     | Approval, on an advisory basis, of the compensation of our named executives.                                                                                                                                                                                                                                                                                           | SECTION 14A SAY-ON-PAY VOTES |             37 |                0 | FOR         | 37.000000                                | FOR                         |  |
| Greene County Bancorp, Inc.     | 394357107 | 11/02/2024     | To consider and approve a non-binding advisory resolution regarding the compensation of the Company's named executive officers.                                                                                                                                                                                                                                        | SECTION 14A SAY-ON-PAY VOTES |             55 |                0 | FOR         | 55.000000                                | FOR                         |  |
| Texas Pacific Land Corporation  | 88262P102 | 11/08/2024     | To approve, by non-binding advisory vote, the executive compensation paid to the Company's named executive officers.                                                                                                                                                                                                                                                   | SECTION 14A SAY-ON-PAY VOTES |            204 |                0 | FOR         | 204.000000                               | FOR                         |  |
| Kentucky First Federal Bancorp  | 491292108 | 11/14/2024     | The approval of the compensation of the named executive officers.                                                                                                                                                                                                                                                                                                      | SECTION 14A SAY-ON-PAY VOTES |             84 |                0 | FOR         | 84.000000                                | FOR                         |  |
| Rise Gold Corp.                 | 76760M200 | 11/20/2024     | To approve, on a non-binding advisory basis, the compensation of the Corporation's named  executive officers for the fiscal year ended July 31, 2024.                                                                                                                                                                                                                  | SECTION 14A SAY-ON-PAY VOTES |           1020 |                0 | FOR         | 1020.000000                              | FOR                         |  |
| Rise Gold Corp.                 | 76760M200 | 11/20/2024     | To approve, on a non-binding advisory basis, the frequency of future advisory votes on executive compensation (which will be either every year, every two years or every three years)  EVERY YEAR                                                                                                                                                                      | SECTION 14A SAY-ON-PAY VOTES |           1020 |                0 | FOR         | 1020.000000                              | NONE                        |  |
| Rise Gold Corp.                 | 76760M200 | 11/20/2024     | To approve, on a non-binding advisory basis, the frequency of future advisory votes on executive compensation (which will be either every year, every two years or every three years)  EVERY TWO YEARS                                                                                                                                                                 | SECTION 14A SAY-ON-PAY VOTES |           1020 |                0 | AGAINST     | 1020.000000                              | NONE                        |  |
| Rise Gold Corp.                 | 76760M200 | 11/20/2024     | To approve, on a non-binding advisory basis, the frequency of future advisory votes on executive compensation (which will be either every year, every two years or every three years)  EVERY THREE YEARS                                                                                                                                                               | SECTION 14A SAY-ON-PAY VOTES |           1020 |                0 | AGAINST     | 1020.000000                              | NONE                        |  |
| ICC Holdings, Inc.              | 44931Q104 | 11/26/2024     | To approve, on an advisory (non binding) basis, the compensation that may become payable to the Company's named executive officers in connection with the merger.                                                                                                                                                                                                      | SECTION 14A SAY-ON-PAY VOTES |           1000 |                0 | FOR         | 1000.000000                              | FOR                         |  |
| TFS Financial Corporation       | 87240R107 | 02/20/2025     | Advisory vote on compensation of named Executive Officers.                                                                                                                                                                                                                                                                                                             | SECTION 14A SAY-ON-PAY VOTES |              1 |                0 | FOR         | 1.000000                                 | FOR                         |  |
| Lennar Corporation              | 526057302 | 04/09/2025     | Approval, on an advisory basis, of the compensation of our named executive officers.                                                                                                                                                                                                                                                                                   | SECTION 14A SAY-ON-PAY VOTES |           5629 |                0 | FOR         | 5629.000000                              | FOR                         |  |
| MGIC Investment Corporation     | 552848103 | 04/24/2025     | Advisory Vote to Approve our Executive Compensation.                                                                                                                                                                                                                                                                                                                   | SECTION 14A SAY-ON-PAY VOTES |          74000 |                0 | FOR         | 74000.000000                             | FOR                         |  |
| Pfizer Inc.                     | 717081103 | 04/24/2025     | 2025 advisory approval of executive compensation                                                                                                                                                                                                                                                                                                                       | SECTION 14A SAY-ON-PAY VOTES |            787 |                0 | AGAINST     | 787.000000                               | AGAINST                     |  |
| Citigroup Inc.                  | 172967424 | 04/29/2025     | Advisory vote to approve our 2024 Executive Compensation.                                                                                                                                                                                                                                                                                                              | SECTION 14A SAY-ON-PAY VOTES |            627 |                0 | FOR         | 627.000000                               | FOR                         |  |
| First Citizens BancShares, Inc. | 31946M202 | 04/29/2025     | Non-binding advisory resolution ("say-on-pay" resolution) to approve compensation paid or provided to BancShares' named executive officers as disclosed in the proxy statement for the Annual Meeting.                                                                                                                                                                 | SECTION 14A SAY-ON-PAY VOTES |            973 |                0 | FOR         | 973.000000                               | FOR                         |  |
| Bristol-Myers Squibb Company    | 110122108 | 05/06/2025     | Advisory Vote to Approve the Compensation of our Named Executive Officers                                                                                                                                                                                                                                                                                              | SECTION 14A SAY-ON-PAY VOTES |            603 |                0 | FOR         | 603.000000                               | FOR                         |  |
| CF Industries Holdings, Inc.    | 125269100 | 05/06/2025     | Advisory vote to approve the compensation of CF Industries Holdings, Inc.'s named executive officers.                                                                                                                                                                                                                                                                  | SECTION 14A SAY-ON-PAY VOTES |              3 |                0 | FOR         | 3.000000                                 | FOR                         |  |
| ENB Financial Corp              | 26874L101 | 05/06/2025     | To conduct a non-binding shareholder vote on executive compensation;                                                                                                                                                                                                                                                                                                   | SECTION 14A SAY-ON-PAY VOTES |           2641 |                0 | FOR         | 2641.000000                              | FOR                         |  |
| ENB Financial Corp              | 26874L101 | 05/06/2025     | To conduct a non-binding shareholder vote on the frequency of non-binding shareholder votes on executive compensation;                                                                                                                                                                                                                                                 | SECTION 14A SAY-ON-PAY VOTES |           2641 |                0 | ONE YEAR    | 2641.000000                              | AGAINST                     |  |
| Tejon Ranch Co.                 | 879080109 | 05/13/2025     | Advisory vote to approve named executive officer compensation.                                                                                                                                                                                                                                                                                                         | SECTION 14A SAY-ON-PAY VOTES |          13742 |                0 | AGAINST     | 13742.000000                             | AGAINST                     |  |
| Tejon Ranch Co.                 | 879080109 | 05/13/2025     | To approve the compensation of Tejon's executive officers.                                                                                                                                                                                                                                                                                                             | SECTION 14A SAY-ON-PAY VOTES |              0 |                0 |  |  |  |  |
| Burford Capital Ltd.            | G17977110 | 05/14/2025     | To approve, on an advisory basis, the compensation of the Company's named executive officers as disclosed in the proxy statement for the 2025 annual general meeting of shareholders under "Executive compensation", including the compensation discussion and analysis, the compensation tables and the related narrative discussion included therein ("Say-on-Pay"). | SECTION 14A SAY-ON-PAY VOTES |           3000 |                0 | AGAINST     | 3000.000000                              | AGAINST                     |  |
| Burford Capital Ltd.            | G17977110 | 05/14/2025     | To approve, on an advisory basis, the frequency of future shareholder advisory votes to approve the compensation of the Company's named executive officers ("Say-on-Frequency").                                                                                                                                                                                       | SECTION 14A SAY-ON-PAY VOTES |           3000 |                0 | ONE YEAR    | 3000.000000                              | FOR                         |  |
| Eagle Financial Services, Inc.  | 26951R104 | 05/20/2025     | To approve, in an advisory, non-binding vote, the compensation of the Company's named executive officers disclosed in the Proxy Statement.                                                                                                                                                                                                                             | SECTION 14A SAY-ON-PAY VOTES |           5000 |                0 | FOR         | 5000.000000                              | FOR                         |  |
| Eagle Financial Services, Inc.  | 26951R104 | 05/20/2025     | To approve, on a non-binding advisory basis, the frequency with which the Company will hold a shareholder vote in the future to approve the compensation of the Company's names executive officers.                                                                                                                                                                    | SECTION 14A SAY-ON-PAY VOTES |           5000 |                0 | ONE YEAR    | 5000.000000                              | AGAINST                     |  |
| NI Holdings, Inc.               | 65342T106 | 05/20/2025     | Proposal to approve the compensation of our Named Executive Officers.                                                                                                                                                                                                                                                                                                  | SECTION 14A SAY-ON-PAY VOTES |          51392 |                0 | FOR         | 51392.000000                             | FOR                         |  |
| SiriusPoint Ltd.                | G8192H106 | 05/20/2025     | To approve, by a non-binding advisory vote, the executive compensation payable to the Company's named executive officers.                                                                                                                                                                                                                                              | SECTION 14A SAY-ON-PAY VOTES |          85747 |                0 | FOR         | 85747.000000                             | FOR                         |  |
| Community West Bancshares       | 203937107 | 05/21/2025     | To adopt a non-binding advisory resolution approving executive compensation.                                                                                                                                                                                                                                                                                           | SECTION 14A SAY-ON-PAY VOTES |          49062 |                0 | FOR         | 49062.000000                             | FOR                         |  |
| Rhinebeck Bancorp, Inc.         | 762093102 | 05/21/2025     | The approval, on an advisory (non-binding) basis, of the compensation of our Named Executive Officers as presented in the Proxy Statement.                                                                                                                                                                                                                             | SECTION 14A SAY-ON-PAY VOTES |           1000 |                0 | FOR         | 1000.000000                              | FOR                         |  |
| Rhinebeck Bancorp, Inc.         | 762093102 | 05/21/2025     | The approval of the frequency of conducting advisory (non-binding) votes on the compensation of our Named Executive Officers.                                                                                                                                                                                                                                          | SECTION 14A SAY-ON-PAY VOTES |           1000 |                0 | ONE YEAR    | 1000.000000                              | FOR                         |  |
| Genworth Financial, Inc.        | 37247D106 | 05/22/2025     | Advisory vote to approve named executive officer compensation.                                                                                                                                                                                                                                                                                                         | SECTION 14A SAY-ON-PAY VOTES |          88348 |                0 | FOR         | 88348.000000                             | FOR                         |  |
| Sirius XM Holdings Inc.         | 829933100 | 05/28/2025     | Advisory vote on frequency of future advisory votes on the compensation of named executive officers.                                                                                                                                                                                                                                                                   | SECTION 14A SAY-ON-PAY VOTES |            384 |                0 | ONE YEAR    | 384.000000                               | FOR                         |  |
| First Seacoast Bancorp, Inc.    | 33631F104 | 05/29/2025     | To approve the compensation of the named executive officers as disclosed in the accompanying proxy statement.                                                                                                                                                                                                                                                          | SECTION 14A SAY-ON-PAY VOTES |          90000 |                0 | FOR         | 90000.000000                             | FOR                         |  |
| First Seacoast Bancorp, Inc.    | 33631F104 | 05/29/2025     | Frequency of stockholder vote to approve the compensation of the named executive officers.                                                                                                                                                                                                                                                                             | SECTION 14A SAY-ON-PAY VOTES |          90000 |                0 | ONE YEAR    | 90000.000000                             | FOR                         |  |
| Corebridge Financial, Inc.      | 21871X109 | 06/03/2025     | Approve the 2024 compensation of Corebridge's named executive officers on an advisory basis.                                                                                                                                                                                                                                                                           | SECTION 14A SAY-ON-PAY VOTES |         167216 |                0 | FOR         | 167216.000000                            | FOR                         |  |
| Devon Energy Corporation.       | 25179M103 | 06/04/2025     | Advisory Vote to Approve Executive Compensation.                                                                                                                                                                                                                                                                                                                       | SECTION 14A SAY-ON-PAY VOTES |          13000 |                0 | AGAINST     | 13000.000000                             | AGAINST                     |  |
| Sonida Senior Living, Inc.      | 140475203 | 06/10/2025     | Proposal to approve the Company's executive compensation.                                                                                                                                                                                                                                                                                                              | SECTION 14A SAY-ON-PAY VOTES |         318783 |                0 | FOR         | 318783.000000                            | FOR                         |  |

## N-PX: Signature Block

**Reporting Person:** Arbiter Partners Capital Management LLC

**By (Signature):** Paul J. Isaac

**By (Printed Signature):** Paul J. Isaac

**By (Title):** Manager

**Date:** 08/06/2025