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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
+11.18%
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
$323M
AUM Growth
-$194M
Cap. Flow
-$352M
Cap. Flow %
-108.89%
Top 10 Hldgs %
94.93%
Holding
33
New
–
Increased
–
Reduced
4
Closed
14

Top Buys

No buys this quarter

Top Sells

Rank Stock Value
1
BNFT
Benefitfocus, Inc.
BNFT
+$41.5M
2
MNTV
Momentive Global Inc. Common Stock
MNTV
+$25.8M
3
CXM icon
Sprinklr
CXM
+$24.2M
4
SPLK
Splunk Inc
SPLK
+$22.3M
5
IAS
Integral Ad Science
IAS
+$20.8M

Sector Composition

Rank Sector Weight
1 Technology 31.01%
2 Industrials 15.79%
3 Healthcare 4.49%
4 Communication Services 2.37%
5 Consumer Discretionary 0%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
CPARW
26
DELISTED
Catalyst Partners Acquisition Corp. Warrant
CPARW
– –
-100,000
Closed -$170
BNFT
27
DELISTED
Benefitfocus, Inc.
BNFT
– –
-3,963,694
Closed -$41.5M
PACXW
28
DELISTED
Pioneer Merger Corp. Warrant
PACXW
– –
-333,334
Closed -$167
CZOO.WS
29
DELISTED
Cazoo Group Ltd Redeemable Warrants, each warrant exercisable for one Class A ordinary share at an exercise price of $11.50 per share
CZOO.WS
– –
-750,000
Closed -$6.08K
1
2

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Indaba Capital Management's Q1 2023 Portfolio in Review

As of Q1 2023, Indaba Capital Management held 33 positions worth $323M, down 37% from $517M the previous quarter. Its ten largest holdings account for 95% of the portfolio.

Indaba Capital Management withdrew a net $352M in Q1 2023, closing 14 positions and reducing 4 holdings. Its most notable exit was Benefitfocus, Inc., an estimated $41.5M position sold in full.

By sector, the portfolio is most concentrated in Technology at 31% of assets, down from 33% a quarter earlier, followed by Industrials and Healthcare.

  • Indaba Capital Management's biggest Q1 2023 reduction was Sprinklr, cutting an estimated $24.2M.
  • Indaba Capital Management fully exited Benefitfocus, Inc. in Q1 2023, selling an estimated $41.5M.
  • Indaba Capital Management's ten largest holdings make up 95% of its $323M portfolio in Q1 2023.
  • Indaba Capital Management opened 0 new positions and closed 14 in Q1 2023.
  • Indaba Capital Management's portfolio value fell 37% quarter-over-quarter to $323M.

Based on Indaba Capital Management's 13F filing for Q1 2023, filed 15 May 2023.