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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
-1.46%
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
$650M
AUM Growth
-$110M
Cap. Flow
-$281M
Cap. Flow %
-43.24%
Top 10 Hldgs %
58.58%
Holding
48
New
–
Increased
4
Reduced
7
Closed
4

Top Buys

Rank Stock Value
1
BLKB icon
Blackbaud
BLKB
+$11.4M
2
TRHC
Tabula Rasa HealthCare, Inc. Common Stock
TRHC
+$5.8M
3
EVBG
Everbridge, Inc. Common Stock
EVBG
+$3.27M
4
MNTV
Momentive Global Inc. Common Stock
MNTV
+$1.37M

Top Sells

Rank Stock Value
1
ZEN
ZENDESK INC
ZEN
+$58M
2
INST
Instructure Holdings, Inc.
INST
+$19.2M
3
HRT
HireRight Holdings Corporation
HRT
+$13.6M
4
FA icon
First Advantage
FA
+$8.63M
5
IS
ironSource Ltd.
IS
+$2.38M

Sector Composition

Rank Sector Weight
1 Technology 33.63%
2 Industrials 14.3%
3 Communication Services 7.91%
4 Consumer Discretionary 6.7%
5 Healthcare 1.26%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
RGTIW icon
26
Rigetti Computing Warrants
RGTIW
$111M
$14K ﹤0.01%
62,500
– –
CPARW
27
DELISTED
Catalyst Partners Acquisition Corp. Warrant
CPARW
$12K ﹤0.01%
100,000
– –
PACXW
28
DELISTED
Pioneer Merger Corp. Warrant
PACXW
$12K ﹤0.01%
333,334
– –
WPCA.WS
29
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
$9K ﹤0.01%
100,000
– –
MKFG.WS
30
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
$8K ﹤0.01%
25,000
– –
VPCBW
31
DELISTED
VPC Impact Acquisition Holdings II Warrant
VPCBW
$8K ﹤0.01%
125,000
– –
FACA.WS
32
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
$7K ﹤0.01%
112,500
– –
ANAC.WS
33
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
$6K ﹤0.01%
100,000
– –
WPCB.WS
34
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
$6K ﹤0.01%
100,000
– –
CLAS.WS
35
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
$5K ﹤0.01%
438,200
– –
DAVEW icon
36
Dave Inc Warrants
DAVEW
$34.2M
$4K ﹤0.01%
125,000
– –
MVLAW
37
DELISTED
Movella Holdings Inc. Warrant
MVLAW
$3K ﹤0.01%
125,265
– –
FA icon
38
First Advantage
FA
$3.69B
– –
-680,761
Closed -$8.63M
OPALW
39
DELISTED
OPAL Fuels Inc. Warrant
OPALW
– –
-105,000
Closed -$110K
ZEN
40
DELISTED
ZENDESK INC
ZEN
– –
-782,700
Closed -$58M
CRU.WS
41
DELISTED
Crucible Acquisition Corporation Redeemable warrants, each whole warrant exercisable for one share of Class A common stock at an exercise price of $11.50
CRU.WS
– –
-329,623
Closed -$33K
1
2

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CI
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MIG
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SPA
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SM
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2C
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SIM
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SWM
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Indaba Capital Management's Q3 2022 Portfolio in Review

As of Q3 2022, Indaba Capital Management held 48 positions worth $650M, down 15% from $760M the previous quarter. Its ten largest holdings account for 59% of the portfolio.

Indaba Capital Management withdrew a net $281M in Q3 2022, closing 4 positions and reducing 7 holdings. Its most notable exit was ZENDESK INC, an estimated $58M position sold in full.

By sector, the portfolio is most concentrated in Technology at 34% of assets, down from 40% a quarter earlier, followed by Industrials and Communication Services.

Against the trend, Indaba Capital Management added an estimated $11.4M to Blackbaud.

  • Indaba Capital Management added most to Blackbaud in Q3 2022, an estimated $11.4M increase.
  • Indaba Capital Management's biggest Q3 2022 reduction was Instructure Holdings, Inc., cutting an estimated $19.2M.
  • Indaba Capital Management fully exited ZENDESK INC in Q3 2022, selling an estimated $58M.
  • Indaba Capital Management's ten largest holdings make up 59% of its $650M portfolio in Q3 2022.
  • Indaba Capital Management opened 0 new positions and closed 4 in Q3 2022.
  • Indaba Capital Management's portfolio value fell 15% quarter-over-quarter to $650M.

Based on Indaba Capital Management's 13F filing for Q3 2022, filed 14 Nov 2022.