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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
+0.37%
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
$517M
AUM Growth
+$27.1M
Cap. Flow
+$27.8M
Cap. Flow %
5.38%
Top 10 Hldgs %
68.59%
Holding
26
New
3
Increased
9
Reduced
3
Closed
5

Top Buys

Rank Stock Value
1
PLAY icon
Dave & Buster's
PLAY
+$31.1M
2
RMR icon
The RMR Group
RMR
+$26.9M
3
GCP
GCP Applied Technologies Inc.
GCP
+$16.7M
4
ILPT
Industrial Logistics Properties Trust
ILPT
+$12.7M
5
RVI
Retail Value Inc. Common Shares
RVI
+$8.08M

Top Sells

Rank Stock Value
1
CPLG
CorePoint Lodging Inc. Common Stock
CPLG
+$14.4M
2
TLND
Talend S.A. American Depositary Shares
TLND
+$13.9M
3
GRPN icon
Groupon
GRPN
+$12.5M
4
WOW
WideOpenWest
WOW
+$4.98M
5
CARB
Carbonite Inc
CARB
+$4.83M

Sector Composition

Rank Sector Weight
1 Real Estate 22.09%
2 Consumer Discretionary 18.72%
3 Technology 16.83%
4 Communication Services 14.72%
5 Industrials 4.8%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
EVRI
1
DELISTED
Everi Holdings
EVRI
$83.6M 16.17%
7,009,118
– –
ILPT
2
Industrial Logistics Properties Trust
ILPT
$613M
$52.9M 10.22%
2,539,158
+641,149
+34% +$12.7M
ECHO
3
EchoStar
ECHO
$25.5B
$33.3M 6.44%
927,875
+89,842
+11% +$2.99M
RVI
4
DELISTED
Retail Value Inc. Common Shares
RVI
$31.6M 6.11%
9,893,306
+2,632,069
+36% +$8.08M
SMTA
5
DELISTED
Spirit MTA REIT Common Shares of Beneficial Interest
SMTA
$28.9M 5.6%
3,470,415
+42,690
+1% +$314K
UHAL icon
6
U-Haul Holding Co
UHAL
$14B
$24.8M 4.8%
655,260
-21,920
-3% -$835K
VISN
7
Vistance Networks Inc
VISN
$2.66B
$24.8M 4.79%
1,574,776
+293,000
+23% +$5.95M
PLAY icon
8
Dave & Buster's
PLAY
$343M
$24.7M 4.78%
+611,000
New +$31.1M
BCSF icon
9
Bain Capital Specialty
BCSF
$802M
$24.6M 4.76%
1,347,105
-78,928
-6% -$1.5M
LOGM
10
DELISTED
LogMein, Inc.
LOGM
$23.5M 4.55%
319,247
+10,947
+4% +$846K
RMR icon
11
The RMR Group
RMR
$342M
$23.5M 4.54%
+500,000
New +$26.9M
CARB
12
DELISTED
Carbonite Inc
CARB
$22.9M 4.42%
878,366
-197,745
-18% -$4.83M
CLPR
13
Clipper Realty
CLPR
$46.5M
$19.5M 3.77%
1,742,092
– –
STGW icon
14
Stagwell
STGW
$1.84B
$18.1M 3.5%
7,181,301
+265,235
+4% +$683K
CLDR
15
DELISTED
Cloudera, Inc.
CLDR
$15.9M 3.07%
3,022,322
+137,622
+5% +$1.27M
GCP
16
DELISTED
GCP Applied Technologies Inc.
GCP
$14M 2.7%
+617,289
New +$16.7M
GDEN
17
DELISTED
Golden Entertainment
GDEN
$13.2M 2.55%
942,099
+10,015
+1% +$146K
ACR
18
ACRES Commercial Realty
ACR
$126M
$10.7M 2.08%
316,595
– –
TPGH.WS
19
DELISTED
TPG Pace Holdings Corp. Warrants, each exercisable for one Class A Ordinary Share at an exercise pri
TPGH.WS
$790K 0.15%
500,000
– –
MOSC.WS
20
DELISTED
Mosaic Acquisition Corp. Warrants, each exercisable for one Class A Common Stock at an exercise pric
MOSC.WS
$396K 0.08%
416,667
– –
GRPN icon
21
Groupon
GRPN
$980M
– –
-175,982
Closed -$12.5M
WOW
22
DELISTED
WideOpenWest
WOW
– –
-547,432
Closed -$4.98M
CPLG
23
DELISTED
CorePoint Lodging Inc. Common Stock
CPLG
– –
-1,287,077
Closed -$14.4M
TLND
24
DELISTED
Talend S.A. American Depositary Shares
TLND
– –
-275,551
Closed -$13.9M
CISN
25
DELISTED
Cision Ltd. Ordinary Share
CISN
– –
-45,659
Closed -$629K

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MIG
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SPA
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SM
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2C
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SWM
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Indaba Capital Management's Q2 2019 Portfolio in Review

As of Q2 2019, Indaba Capital Management held 26 positions worth $517M, up 5.5% from $490M the previous quarter. Its ten largest holdings account for 69% of the portfolio.

Indaba Capital Management deployed $27.8M of net new capital in Q2 2019, opening 3 new positions and adding to 9 existing holdings. Its largest new stake was Dave & Buster's: 611,000 shares worth $24.7M.

By sector, the portfolio is most concentrated in Real Estate at 22% of assets, up from 19% a quarter earlier, followed by Consumer Discretionary and Technology.

On the sell side, the largest reduction was Carbonite Inc, an estimated $4.83M trimmed.

  • Indaba Capital Management's largest Q2 2019 buy was Dave & Buster's: 611,000 shares worth $24.7M.
  • Indaba Capital Management added most to Industrial Logistics Properties Trust in Q2 2019, an estimated $12.7M increase.
  • Indaba Capital Management's biggest Q2 2019 reduction was Carbonite Inc, cutting an estimated $4.83M.
  • Indaba Capital Management fully exited CorePoint Lodging Inc. Common Stock in Q2 2019, selling an estimated $14.4M.
  • Indaba Capital Management's ten largest holdings make up 69% of its $517M portfolio in Q2 2019.
  • Indaba Capital Management opened 3 new positions and closed 5 in Q2 2019.
  • Indaba Capital Management's portfolio value rose 5.5% quarter-over-quarter to $517M.

Based on Indaba Capital Management's 13F filing for Q2 2019, filed 14 Aug 2019.