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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
+25.54%
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
$264M
AUM Growth
+$78.3M
Cap. Flow
+$13.3M
Cap. Flow %
5.03%
Top 10 Hldgs %
81.02%
Holding
27
New
5
Increased
3
Reduced
2
Closed
9

Top Buys

Rank Stock Value
1
ECHO
EchoStar
ECHO
+$32.6M
2
NLSN
Nielsen Holdings plc
NLSN
+$25.2M
3
HLF icon
Herbalife
HLF
+$16.8M
4
MIME
Mimecast Limited
MIME
+$10.1M
5
EB
Eventbrite
EB
+$4.41M

Top Sells

Rank Stock Value
1
SBGI icon
Sinclair Inc
SBGI
+$19.3M
2
PPD
PPD, Inc. Common Stock
PPD
+$18.1M
3
CSOD
Cornerstone OnDemand, Inc.
CSOD
+$11.6M
4
BERY
Berry Global Group, Inc.
BERY
+$10.3M
5
EVRI
Everi Holdings
EVRI
+$7.7M

Sector Composition

Rank Sector Weight
1 Communication Services 22.67%
2 Real Estate 11.17%
3 Industrials 10.12%
4 Consumer Discretionary 8.79%
5 Consumer Staples 7.39%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
ECHO
1
EchoStar
ECHO
$25.5B
$30M 11.36%
+1,072,199
New +$32.6M
CSOD
2
DELISTED
Cornerstone OnDemand, Inc.
CSOD
$27.7M 10.51%
718,946
-328,962
-31% -$11.6M
NLSN
3
DELISTED
Nielsen Holdings plc
NLSN
$26.7M 10.12%
+1,796,334
New +$25.2M
STGW icon
4
Stagwell
STGW
$1.84B
$19.5M 7.39%
9,377,399
+2,196,098
+31% +$2.92M
HLF icon
5
Herbalife
HLF
$1.23B
$19.5M 7.39%
+433,548
New +$16.8M
LAB icon
6
Standard BioTools
LAB
$326M
$15.9M 6.02%
3,963,752
+143,786
+4% +$501K
RVI
7
DELISTED
Retail Value Inc. Common Shares
RVI
$15.4M 5.82%
13,540,572
– –
EVRI
8
DELISTED
Everi Holdings
EVRI
$14.8M 5.61%
2,866,743
-1,516,547
-35% -$7.7M
CLPR
9
Clipper Realty
CLPR
$46.5M
$14.1M 5.35%
1,742,092
– –
MIME
10
DELISTED
Mimecast Limited
MIME
$14M 5.31%
336,531
+256,326
+320% +$10.1M
GDEN
11
DELISTED
Golden Entertainment
GDEN
$8.4M 3.18%
942,099
– –
WOW
12
DELISTED
WideOpenWest
WOW
$6.07M 2.3%
1,150,861
– –
EB
13
DELISTED
Eventbrite
EB
$4.29M 1.62%
+500,000
New +$4.41M
BCSF icon
14
Bain Capital Specialty
BCSF
$802M
$3.46M 1.31%
+311,844
New +$3.23M
VVNT.WS
15
DELISTED
Vivint Smart Home, Inc. Warrants, each exercisable for one Class A Common Stock at an exercise price
VVNT.WS
$2.38M 0.9%
416,667
– –
ACEL.WS
16
DELISTED
Accel Entertainment Inc Warrant
ACEL.WS
$1.17M 0.44%
500,000
– –
ABR icon
17
Arbor Realty Trust
ABR
$960M
– –
-580,500
Closed -$2.84M
BL icon
18
BlackLine
BL
$1.69B
– –
-114,308
Closed -$6.01M
LADR
19
Ladder Capital
LADR
$1.25B
– –
-330,000
Closed -$1.56M
SBGI icon
20
Sinclair Inc
SBGI
$974M
– –
-1,198,502
Closed -$19.3M
TRTX
21
TPG RE Finance Trust
TRTX
$666M
– –
-230,000
Closed -$1.26M
BERY
22
DELISTED
Berry Global Group, Inc.
BERY
– –
-332,416
Closed -$10.3M
BRMK
23
DELISTED
Broadmark Realty Capital Inc. Common Stock
BRMK
– –
-489,950
Closed -$3.68M
PPD
24
DELISTED
PPD, Inc. Common Stock
PPD
– –
-1,015,079
Closed -$18.1M
CBL
25
DELISTED
CBL& Associates Properties, Inc.
CBL
– –
-632,561
Closed -$127K

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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 Q2 2020 Portfolio in Review

As of Q2 2020, Indaba Capital Management held 27 positions worth $264M, up 42% from $186M the previous quarter. Its ten largest holdings account for 81% of the portfolio.

Indaba Capital Management deployed $13.3M of net new capital in Q2 2020, opening 5 new positions and adding to 3 existing holdings. Its largest new stake was EchoStar: 1,072,199 shares worth $30M.

By sector, the portfolio is most concentrated in Communication Services at 23% of assets, up from 19% a quarter earlier, followed by Real Estate and Industrials.

On the sell side, the largest reduction was Cornerstone OnDemand, Inc., an estimated $11.6M trimmed.

  • Indaba Capital Management's largest Q2 2020 buy was EchoStar: 1,072,199 shares worth $30M.
  • Indaba Capital Management added most to Mimecast Limited in Q2 2020, an estimated $10.1M increase.
  • Indaba Capital Management's biggest Q2 2020 reduction was Cornerstone OnDemand, Inc., cutting an estimated $11.6M.
  • Indaba Capital Management fully exited Sinclair Inc in Q2 2020, selling an estimated $19.3M.
  • Indaba Capital Management's ten largest holdings make up 81% of its $264M portfolio in Q2 2020.
  • Indaba Capital Management opened 5 new positions and closed 9 in Q2 2020.
  • Indaba Capital Management's portfolio value rose 42% quarter-over-quarter to $264M.

Based on Indaba Capital Management's 13F filing for Q2 2020, filed 14 Aug 2020.