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Indaba Capital Management Portfolio holdings

AUM $33.8M
1-Year Est. Return 33.83%
This Fund
S&P 500
This Quarter Est. Return
-3.33%
1 Year Est. Return
+33.83%
3 Year Est. Return
+66.66%
5 Year Est. Return
+44.49%
10 Year Est. Return
+91.89%
AUM
$933M
AUM Growth
-$11.4M
Cap. Flow
-$204M
Cap. Flow %
-21.88%
Top 10 Hldgs %
55.47%
Holding
64
New
5
Increased
6
Reduced
4
Closed
16

Top Buys

Rank Stock Value
1
HRT
HireRight Holdings Corporation
HRT
+$51.8M
2
BLND icon
Blend Labs
BLND
+$46M
3
CXM icon
Sprinklr
CXM
+$33.4M
4
FA icon
First Advantage
FA
+$24.1M
5
ONTF
ON24
ONTF
+$20.1M

Top Sells

Rank Stock Value
1
STGW icon
Stagwell
STGW
+$29M
2
RVI
Retail Value Inc. Common Shares
RVI
+$26.7M
3
PSFE icon
Paysafe
PSFE
+$26.4M
4
AGL icon
Agilon Health
AGL
+$13.1M
5
MSP
Datto Holding Corp.
MSP
+$10.7M

Sector Composition

Rank Sector Weight
1 Technology 39.7%
2 Industrials 7.86%
3 Communication Services 7.73%
4 Consumer Discretionary 5.92%
5 Financials 4.65%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
CLAS.WS
26
DELISTED
Class Acceleration Corp. Redeemable Warrants, each whole warrant exercisable for one share of Class A Common Stock at an exercise price of $11.50
CLAS.WS
$223K 0.02%
438,200
– –
PACXW
27
DELISTED
Pioneer Merger Corp. Warrant
PACXW
$216K 0.02%
333,334
– –
OPALW
28
DELISTED
OPAL Fuels Inc. Warrant
OPALW
$175K 0.02%
105,000
– –
RGTIW icon
29
Rigetti Computing Warrants
RGTIW
$123M
$148K 0.02%
62,500
– –
DAVEW icon
30
Dave Inc Warrants
DAVEW
$34.2M
$133K 0.01%
125,000
– –
FACA.WS
31
DELISTED
Figure Acquisition Corp. I Redeemable warrants, each whole warrant exercisable for one share of Class A common stock at an exercise price of $11.50
FACA.WS
$131K 0.01%
112,500
– –
VPCBW
32
DELISTED
VPC Impact Acquisition Holdings II Warrant
VPCBW
$124K 0.01%
125,000
– –
SPAQ.WS
33
DELISTED
Spartan Acquisition Corp. III Warrants, exercisable for one share of Class A Common Stock
SPAQ.WS
$108K 0.01%
75,000
– –
ACQRW
34
DELISTED
Independence Holdings Corp. Warrant
ACQRW
$107K 0.01%
120,000
– –
WPCB.WS
35
DELISTED
Warburg Pincus Capital Corporation I-B Warrants, each whole warrant exercisable for one Class A ordinary share at an exercise price of $11.50
WPCB.WS
$100K 0.01%
100,000
– –
WPCA.WS
36
DELISTED
Warburg Pincus Capital Corporation I-A Warrants, each whole warrant exercisable for one Class A ordinary share at an exercise price of $11.50
WPCA.WS
$99K 0.01%
100,000
– –
CPARW
37
DELISTED
Catalyst Partners Acquisition Corp. Warrant
CPARW
$86K 0.01%
100,000
– –
ANAC.WS
38
DELISTED
Arctos NorthStar Acquisition Corp. Warrants, each whole warrant exercisable for one Class A ordinary share at an exercise price of $11.50
ANAC.WS
$76K 0.01%
100,000
– –
MVLAW
39
DELISTED
Movella Holdings Inc. Warrant
MVLAW
$75K 0.01%
125,265
– –
MKFG.WS
40
DELISTED
Markforged Holding Corporation Warrants, each whole warrant exercisable to purchase one-tenth (1/10th) of a share of Common Stock at an exercise price of $115.00 per share
MKFG.WS
$21K ﹤0.01%
25,000
– –
AGL icon
41
Agilon Health
AGL
$1.65B
– –
-20,000
Closed -$13.1M
BKSY icon
42
BlackSky Technology
BKSY
$898M
– –
-62,500
Closed -$5.17M
IWO icon
43
PUT
iShares Russell 2000 Growth ETF
IWO
$14.4B
– –
-130,000
Closed -$38.2M
OPAD icon
44
Offerpad Solutions
OPAD
$19.3M
– –
-5,333
Closed -$6.98M
OPAL icon
45
OPAL Fuels
OPAL
$67.7M
– –
-500,000
Closed -$4.88M
PSFE icon
46
Paysafe
PSFE
$463M
– –
-283,333
Closed -$26.4M
SPY icon
47
PUT
State Street SPDR S&P 500 ETF Trust
SPY
$783B
– –
-90,000
Closed -$38.6M
DNA.WS
48
DELISTED
Ginkgo Bioworks Holdings, Inc. Warrants, each whole warrant exercisable to purchase one-fortieth (1/40th) of a share of Class A Common Stock at an exercise price of $460.00 per share
DNA.WS
– –
-1,081,421
Closed -$3.67M
FWAC
49
DELISTED
Fifth Wall Acquisition Corp. III Class A Ordinary Shares
FWAC
– –
-500,000
Closed -$4.91M
ACQR
50
DELISTED
Independence Holdings Corp. Class A Ordinary Share
ACQR
– –
-500,000
Closed -$4.88M
1
2
3

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Indaba Capital Management's Q4 2021 Portfolio in Review

As of Q4 2021, Indaba Capital Management held 64 positions worth $933M, down 1.2% from $944M the previous quarter. Its ten largest holdings account for 55% of the portfolio.

Indaba Capital Management withdrew a net $204M in Q4 2021, closing 16 positions and reducing 4 holdings. Its most notable exit was Retail Value Inc. Common Shares, an estimated $26.7M position sold in full.

By sector, the portfolio is most concentrated in Technology at 40% of assets, up from 37% a quarter earlier, followed by Industrials and Communication Services.

Against the trend, Indaba Capital Management opened a new position in HireRight Holdings Corporation worth $49.5M.

  • Indaba Capital Management's largest Q4 2021 buy was HireRight Holdings Corporation: 3,096,533 shares worth $49.5M.
  • Indaba Capital Management added most to Blend Labs in Q4 2021, an estimated $46M increase.
  • Indaba Capital Management's biggest Q4 2021 reduction was Stagwell, cutting an estimated $29M.
  • Indaba Capital Management fully exited Retail Value Inc. Common Shares in Q4 2021, selling an estimated $26.7M.
  • Indaba Capital Management's ten largest holdings make up 55% of its $933M portfolio in Q4 2021.
  • Indaba Capital Management opened 5 new positions and closed 16 in Q4 2021.
  • Indaba Capital Management's portfolio value fell 1.2% quarter-over-quarter to $933M.

Based on Indaba Capital Management's 13F filing for Q4 2021, filed 14 Feb 2022.