Arbiter Partners Registers Staggering Q3 Returns from Investments in Greif, Inc. (GEF), Other Stocks

Arbiter Partners reported ownership of 56,870 shares of First Citizens BancShares Inc. (NASDAQ:FCNCA) worth $14.72 million at the end of the second quarter. Heading into the third quarter, 11 funds followed by us held long positions in this stock, which represents an increase of 22% from the previous quarter. Among these funds, Royce & Associates held the most valuable stake in First Citizens BancShares Inc. (NASDAQ:FCNCA), which was worth $53.8 million. On the second spot was Huber Capital Management which amassed $39 worth of shares. Moreover, GMT Capital, and AQR Capital Management were also bullish on First Citizens BancShares Inc. (NASDAQ:FCNCA).

At the end of the second quarter, Arbiter Partners owned 368,491 shares of Miami-based construction company Lennar Corporation (NYSE:LEN.B); the stake was valued at $13.73 million. Our data shows that best stock pickers were getting less bullish on Lennar Corporation (NYSE:LEN), as Lennar was in 40 hedge funds’ equity portfolios at the end of June, down from 43 funds a quarter earlier. Capital Growth Management, led by Ken Heebner, amassed the largest stake in Lennar Corporation (NYSE:LEN), having reported a $252.6 million position. The second most bullish fund manager was Edgar Wachenheim of Greenhaven Associates, with a $221.2 million position. Other members of the smart money that are bullish comprise Ricky Sandler’s Eminence Capital, John Khoury’s Long Pond Capital, and Ross Margolies’s Stelliam Investment Management.

Disclosure: none