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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
+3.15%
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
$362M
AUM Growth
+$92.2M
Cap. Flow
+$31.3M
Cap. Flow %
8.66%
Top 10 Hldgs %
77.93%
Holding
20
New
4
Increased
7
Reduced
–
Closed
2

Top Buys

Rank Stock Value
1
VER
VEREIT, Inc.
VER
+$34.6M
2
AH
Accretive Health
AH
+$32M
3
SIR
SELECT INCOME REIT
SIR
+$12.1M
4
MYCC
ClubCorp Holdings, Inc.
MYCC
+$11.5M
5
SXC icon
SunCoke Energy
SXC
+$7.09M

Top Sells

Rank Stock Value
1
COLE
COLE REAL ESTATE INVESTMENTS, INC COM
COLE
+$30.8M
2
NDZ
NORDION INC COM STK (CDA)
NDZ
+$13.8M

Sector Composition

Rank Sector Weight
1 Real Estate 15.69%
2 Materials 10.76%
3 Financials 10.49%
4 Industrials 9.36%
5 Consumer Discretionary 5%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
SIR
1
DELISTED
SELECT INCOME REIT
SIR
$41.9M 11.58%
3,147,303
+975,374
+45% +$12.1M
SXC icon
2
SunCoke Energy
SXC
$757M
$38.9M 10.76%
1,704,045
+321,965
+23% +$7.09M
VER
3
DELISTED
VEREIT, Inc.
VER
$34.8M 9.62%
+496,395
New +$34.6M
AH
4
DELISTED
Accretive Health
AH
$28.9M 8%
+3,615,343
New +$32M
GEG icon
5
Great Elm Group
GEG
$68.4M
$26.2M 7.24%
1,005,732
+20,417
+2% +$380K
PCO
6
DELISTED
Pendrell Corporation - Class A
PCO
$22.7M 6.29%
12,427
+280
+2% +$451K
LNCO
7
DELISTED
LINNCO LLC COM SHS REPSTG LTD LIABILITY
LNCO
$22.3M 6.17%
824,500
+137,400
+20% +$4.18M
JGW
8
DELISTED
J G WENTWORTH CO CL A COM STK (DE)
JGW
$19.2M 5.3%
1,050,000
– –
ACRE
9
Ares Commercial Real Estate
ACRE
$252M
$14.9M 4.11%
1,107,821
– –
LEAF
10
DELISTED
Leaf Group Ltd.
LEAF
$14.2M 3.92%
1,472,697
+672,552
+84% +$7.04M
MYCC
11
DELISTED
ClubCorp Holdings, Inc.
MYCC
$12.2M 3.36%
+643,081
New +$11.5M
IFT
12
DELISTED
IMPERIAL HLDGS INC COM STK (FL)
IFT
$11.7M 3.24%
2,039,902
+333,000
+20% +$1.97M
VNCE icon
13
Vince Holding Corp
VNCE
$76.2M
$5.93M 1.64%
22,500
– –
HELI
14
DELISTED
CHC GROUP LTD SHS NEW (CYM)
HELI
$4.92M 1.36%
+22,199
New +$5.93M
OHAI
15
DELISTED
OHA Investment Corporation
OHAI
$4.06M 1.12%
601,075
– –
NDZ
16
DELISTED
NORDION INC COM STK (CDA)
NDZ
– –
-1,625,000
Closed -$13.8M
COLE
17
DELISTED
COLE REAL ESTATE INVESTMENTS, INC COM
COLE
– –
-2,196,000
Closed -$30.8M

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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 Q1 2014 Portfolio in Review

As of Q1 2014, Indaba Capital Management held 20 positions worth $362M, up 34% from $269M the previous quarter. Its ten largest holdings account for 78% of the portfolio.

Indaba Capital Management deployed $31.3M of net new capital in Q1 2014, opening 4 new positions and adding to 7 existing holdings. Its largest new stake was VEREIT, Inc.: 496,395 shares worth $34.8M.

By sector, the portfolio is most concentrated in Real Estate at 16% of assets, down from 26% a quarter earlier, followed by Materials and Financials.

On the sell side, the most notable exit was COLE REAL ESTATE INVESTMENTS, INC COM, an estimated $30.8M sold.

  • Indaba Capital Management's largest Q1 2014 buy was VEREIT, Inc.: 496,395 shares worth $34.8M.
  • Indaba Capital Management added most to SELECT INCOME REIT in Q1 2014, an estimated $12.1M increase.
  • Indaba Capital Management fully exited COLE REAL ESTATE INVESTMENTS, INC COM in Q1 2014, selling an estimated $30.8M.
  • Indaba Capital Management's ten largest holdings make up 78% of its $362M portfolio in Q1 2014.
  • Indaba Capital Management opened 4 new positions and closed 2 in Q1 2014.
  • Indaba Capital Management's portfolio value rose 34% quarter-over-quarter to $362M.

Based on Indaba Capital Management's 13F filing for Q1 2014, filed 15 May 2014.