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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
-18.18%
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
$455M
AUM Growth
+$124M
Cap. Flow
+$86.8M
Cap. Flow %
19.07%
Top 10 Hldgs %
63.36%
Holding
32
New
10
Increased
6
Reduced
1
Closed
6

Top Buys

Rank Stock Value
1
VISN
Vistance Networks Inc
VISN
+$30.1M
2
SGI
Somnigroup International
SGI
+$29.9M
3
BCSF icon
Bain Capital Specialty
BCSF
+$27.3M
4
LNW
Light & Wonder
LNW
+$25.9M
5
UHAL icon
U-Haul Holding Co
UHAL
+$24.6M

Top Sells

Rank Stock Value
1
NYRT
New York REIT, Inc.
NYRT
+$29.9M
2
NLSN
Nielsen Holdings plc
NLSN
+$20.6M
3
ACEL icon
Accel Entertainment
ACEL
+$15.1M
4
VVNT
Vivint Smart Home, Inc. Class A Common Stock
VVNT
+$12.2M
5
RLJ.PRA icon
RLJ Lodging Trust $1.95 Series A Preferred Stock
RLJ.PRA
+$10.3M

Sector Composition

Rank Sector Weight
1 Consumer Discretionary 21.35%
2 Real Estate 15.64%
3 Communication Services 14.15%
4 Financials 5.68%
5 Industrials 5.24%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
EVRI
1
DELISTED
Everi Holdings
EVRI
$36.1M 7.93%
7,009,118
+1,959,438
+39% +$13.4M
BCSF icon
2
Bain Capital Specialty
BCSF
$802M
$25.9M 5.68%
+1,572,141
New +$27.3M
SGI
3
Somnigroup International
SGI
$15.1B
$25.8M 5.68%
+2,496,940
New +$29.9M
GRPN icon
4
Groupon
GRPN
$980M
$23.9M 5.25%
+373,232
New +$24M
UHAL icon
5
U-Haul Holding Co
UHAL
$14B
$23.9M 5.24%
+727,770
New +$24.6M
VISN
6
Vistance Networks Inc
VISN
$2.66B
$23.3M 5.12%
+1,421,697
New +$30.1M
LNW
7
DELISTED
Light & Wonder
LNW
$22.9M 5.03%
+1,281,230
New +$25.9M
CLPR
8
Clipper Realty
CLPR
$46.5M
$22.8M 5%
1,742,092
– –
RLJ.PRA icon
9
RLJ Lodging Trust $1.95 Series A Preferred Stock
RLJ.PRA
$323M
$21.5M 4.72%
866,715
-405,582
-32% -$10.3M
SMTA
10
DELISTED
Spirit MTA REIT Common Shares of Beneficial Interest
SMTA
$20.8M 4.58%
2,923,075
+1,512,447
+107% +$15.3M
PLAY icon
11
Dave & Buster's
PLAY
$343M
$18.6M 4.09%
+418,408
New +$23.5M
GDEN
12
DELISTED
Golden Entertainment
GDEN
$12.4M 2.71%
771,284
+245,444
+47% +$4.47M
CPLG
13
DELISTED
CorePoint Lodging Inc. Common Stock
CPLG
$11.3M 2.48%
+923,136
New +$14M
STGW icon
14
Stagwell
STGW
$1.84B
$11.3M 2.48%
4,327,415
+3,905,948
+927% +$11.1M
ILPT
15
Industrial Logistics Properties Trust
ILPT
$613M
$11.1M 2.44%
563,775
+189,139
+50% +$4.04M
RVI
16
DELISTED
Retail Value Inc. Common Shares
RVI
$10.7M 2.34%
+4,534,474
New +$11.9M
WOW
17
DELISTED
WideOpenWest
WOW
$10.6M 2.33%
1,488,193
+419,103
+39% +$4.04M
ACR
18
ACRES Commercial Realty
ACR
$126M
$5.64M 1.24%
187,646
– –
LAB icon
19
Standard BioTools
LAB
$326M
$3.45M 0.76%
+400,000
New +$3.12M
TPGH.WS
20
DELISTED
TPG Pace Holdings Corp. Warrants, each exercisable for one Class A Ordinary Share at an exercise pri
TPGH.WS
$500K 0.11%
500,000
– –
MOSC.WS
21
DELISTED
Mosaic Acquisition Corp. Warrants, each exercisable for one Class A Common Stock at an exercise pric
MOSC.WS
$413K 0.09%
416,667
– –
ACEL icon
22
Accel Entertainment
ACEL
$979M
– –
-1,500,000
Closed -$15.1M
WSC icon
23
WillScot Mobile Mini Holdings
WSC
$4.8B
– –
-318,026
Closed -$5.45M
AY
24
DELISTED
Atlantica Sustainable Infrastructure plc Ordinary Shares
AY
– –
-163,120
Closed -$3.36M
VVNT
25
DELISTED
Vivint Smart Home, Inc. Class A Common Stock
VVNT
– –
-1,250,001
Closed -$12.2M
1
2

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MIG
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SPA
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Indaba Capital Management's Q4 2018 Portfolio in Review

As of Q4 2018, Indaba Capital Management held 32 positions worth $455M, up 37% from $331M the previous quarter. Its ten largest holdings account for 63% of the portfolio.

Indaba Capital Management deployed $86.8M of net new capital in Q4 2018, opening 10 new positions and adding to 6 existing holdings. Its largest new stake was Vistance Networks Inc: 1,421,697 shares worth $23.3M.

By sector, the portfolio is most concentrated in Consumer Discretionary at 21% of assets, down from 22% a quarter earlier, followed by Real Estate and Communication Services.

On the sell side, the largest reduction was RLJ Lodging Trust $1.95 Series A Preferred Stock, an estimated $10.3M trimmed.

  • Indaba Capital Management's largest Q4 2018 buy was Vistance Networks Inc: 1,421,697 shares worth $23.3M.
  • Indaba Capital Management added most to Spirit MTA REIT Common Shares of Beneficial Interest in Q4 2018, an estimated $15.3M increase.
  • Indaba Capital Management's biggest Q4 2018 reduction was RLJ Lodging Trust $1.95 Series A Preferred Stock, cutting an estimated $10.3M.
  • Indaba Capital Management fully exited New York REIT, Inc. in Q4 2018, selling an estimated $29.9M.
  • Indaba Capital Management's ten largest holdings make up 63% of its $455M portfolio in Q4 2018.
  • Indaba Capital Management opened 10 new positions and closed 6 in Q4 2018.
  • Indaba Capital Management's portfolio value rose 37% quarter-over-quarter to $455M.

Based on Indaba Capital Management's 13F filing for Q4 2018, filed 14 Feb 2019.