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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
+0.79%
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
$267M
AUM Growth
-$95M
Cap. Flow
-$115M
Cap. Flow %
-43.17%
Top 10 Hldgs %
93.73%
Holding
20
New
4
Increased
3
Reduced
4
Closed
6

Top Buys

Rank Stock Value
1
EXPR
Express, Inc.
EXPR
+$25.8M
2
MYCC
ClubCorp Holdings, Inc.
MYCC
+$16.5M
3
FUR
WINTHROP REALTY TRUST SHS BENE INT (NEW)
FUR
+$10.7M
4
LIN
LIN MEDIA LLC CLASS A COM
LIN
+$7.8M
5
SXC icon
SunCoke Energy
SXC
+$5.84M

Top Sells

Rank Stock Value
1
SIR
SELECT INCOME REIT
SIR
+$41.9M
2
AH
Accretive Health
AH
+$28.9M
3
LNCO
LINNCO LLC COM SHS REPSTG LTD LIABILITY
LNCO
+$18.7M
4
VER
VEREIT, Inc.
VER
+$16.3M
5
ACRE
Ares Commercial Real Estate
ACRE
+$14.9M

Sector Composition

Rank Sector Weight
1 Consumer Discretionary 21.75%
2 Materials 15.99%
3 Financials 15.32%
4 Real Estate 4.45%
5 Communication Services 3.17%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
SXC icon
1
SunCoke Energy
SXC
$757M
$42.6M 15.99%
1,982,225
+278,180
+16% +$5.84M
EXPR
2
DELISTED
Express, Inc.
EXPR
$29.4M 11.03%
+86,313
New +$25.8M
MYCC
3
DELISTED
ClubCorp Holdings, Inc.
MYCC
$28.6M 10.72%
1,540,850
+897,769
+140% +$16.5M
GEG icon
4
Great Elm Group
GEG
$68.4M
$26.9M 10.1%
1,005,732
– –
PCO
5
DELISTED
Pendrell Corporation - Class A
PCO
$20.9M 7.86%
11,902
-525
-4% -$867K
VER
6
DELISTED
VEREIT, Inc.
VER
$15.2M 5.72%
243,315
-253,080
-51% -$16.3M
IFT
7
DELISTED
IMPERIAL HLDGS INC COM STK (FL)
IFT
$13.9M 5.22%
2,039,902
– –
FUR
8
DELISTED
WINTHROP REALTY TRUST SHS BENE INT (NEW)
FUR
$11.9M 4.45%
+772,100
New +$10.7M
LIN
9
DELISTED
LIN MEDIA LLC CLASS A COM
LIN
$8.45M 3.17%
+310,053
New +$7.8M
JGW
10
DELISTED
J G WENTWORTH CO CL A COM STK (DE)
JGW
$6.38M 2.39%
566,912
-483,088
-46% -$6M
LNCO
11
DELISTED
LINNCO LLC COM SHS REPSTG LTD LIABILITY
LNCO
$5.16M 1.94%
164,909
-659,591
-80% -$18.7M
OHAI
12
DELISTED
OHA Investment Corporation
OHAI
$3.81M 1.43%
612,125
+11,050
+2% +$71.8K
BPZ
13
DELISTED
BPZ RESOURCES INC COM STK
BPZ
$1.37M 0.51%
+443,700
New +$1.29M
ACRE
14
Ares Commercial Real Estate
ACRE
$252M
– –
-1,107,821
Closed -$14.9M
VNCE icon
15
Vince Holding Corp
VNCE
$76.2M
– –
-22,500
Closed -$5.93M
LEAF
16
DELISTED
Leaf Group Ltd.
LEAF
– –
-1,472,697
Closed -$14.2M
SIR
17
DELISTED
SELECT INCOME REIT
SIR
– –
-3,147,303
Closed -$41.9M
HELI
18
DELISTED
CHC GROUP LTD SHS NEW (CYM)
HELI
– –
-22,199
Closed -$4.92M
AH
19
DELISTED
Accretive Health
AH
– –
-3,615,343
Closed -$28.9M

Similar funds

APM
Advanced Portfolio Management New York $32.8M AUM 6.64% 1-Year Est. Return
CI
Centerstone Investors New York $31.8M AUM 32.46% 1-Year Est. Return
MIG
Meketa Investment Group Westwood, Massachusetts $29.6M AUM 2.01% 1-Year Est. Return
SPA
Sherbrooke Park Advisers White Plains, New York $38.7M AUM 5.29% 1-Year Est. Return
SM
Southport Management Wilson, Wyoming $28.6M AUM 41.61% 1-Year Est. Return
2C
272 Capital Dallas, Texas $40M AUM 150.07% 1-Year Est. Return
SIM
Sandia Investment Management Boston, Massachusetts $40.1M AUM 14.58% 1-Year Est. Return
SWM
Stark Wealth Management Bethlehem, Pennsylvania $26.6M AUM 23.19% 1-Year Est. Return

Indaba Capital Management's Q2 2014 Portfolio in Review

As of Q2 2014, Indaba Capital Management held 20 positions worth $267M, down 26% from $362M the previous quarter. Its ten largest holdings account for 94% of the portfolio.

Indaba Capital Management withdrew a net $115M in Q2 2014, closing 6 positions and reducing 4 holdings. Its most notable exit was SELECT INCOME REIT, an estimated $41.9M position sold in full.

By sector, the portfolio is most concentrated in Consumer Discretionary at 22% of assets, up from 5% a quarter earlier, followed by Materials and Financials.

Against the trend, Indaba Capital Management opened a new position in Express, Inc. worth $29.4M.

  • Indaba Capital Management's largest Q2 2014 buy was Express, Inc.: 86,313 shares worth $29.4M.
  • Indaba Capital Management added most to ClubCorp Holdings, Inc. in Q2 2014, an estimated $16.5M increase.
  • Indaba Capital Management's biggest Q2 2014 reduction was LINNCO LLC COM SHS REPSTG LTD LIABILITY, cutting an estimated $18.7M.
  • Indaba Capital Management fully exited SELECT INCOME REIT in Q2 2014, selling an estimated $41.9M.
  • Indaba Capital Management's ten largest holdings make up 94% of its $267M portfolio in Q2 2014.
  • Indaba Capital Management opened 4 new positions and closed 6 in Q2 2014.
  • Indaba Capital Management's portfolio value fell 26% quarter-over-quarter to $267M.

Based on Indaba Capital Management's 13F filing for Q2 2014, filed 14 Aug 2014.