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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
+13.29%
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
$567M
AUM Growth
+$252M
Cap. Flow
+$110M
Cap. Flow %
19.47%
Top 10 Hldgs %
70.29%
Holding
29
New
13
Increased
5
Reduced
2
Closed
4

Top Buys

Rank Stock Value
1
HOME
At Home Group Inc.
HOME
+$37.8M
2
CZOO
Cazoo Group Ltd
CZOO
+$35.5M
3
CCC
CCC Intelligent Solutions
CCC
+$34.9M
4
AGC
Altimeter Growth Corp
AGC
+$25.6M
5
DBX icon
Dropbox
DBX
+$25.5M

Top Sells

Rank Stock Value
1
DGNR.U
Dragoneer Growth Opportunities Corp. Units, each consisting of one Class A ordinary share, and one-f
DGNR.U
+$36.8M
2
ECHO
EchoStar
ECHO
+$27.8M
3
CLPR
Clipper Realty
CLPR
+$10.5M
4
CSOD
Cornerstone OnDemand, Inc.
CSOD
+$8.48M
5
WOW
WideOpenWest
WOW
+$5.97M

Sector Composition

Rank Sector Weight
1 Consumer Discretionary 23.87%
2 Technology 14.23%
3 Financials 6.12%
4 Healthcare 5.85%
5 Real Estate 5.28%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
HOME
1
DELISTED
At Home Group Inc.
HOME
$50.5M 8.9%
3,263,986
+2,170,986
+199% +$37.8M
BNFT
2
DELISTED
Benefitfocus, Inc.
BNFT
$39.9M 7.04%
2,754,494
+1,141,409
+71% +$13.9M
CCC
3
CCC Intelligent Solutions
CCC
$3.42B
$38M 6.71%
+2,866,971
New +$34.9M
CZOO
4
DELISTED
Cazoo Group Ltd
CZOO
$35.4M 6.25%
+1,500
New +$35.5M
OBDC icon
5
Blue Owl Capital
OBDC
$5.35B
$34.7M 6.12%
2,738,416
+1,183,198
+76% +$15M
LAB icon
6
Standard BioTools
LAB
$326M
$33.2M 5.85%
5,530,600
+1,566,848
+40% +$10.3M
EVRI
7
DELISTED
Everi Holdings
EVRI
$30.7M 5.42%
2,223,711
-375,867
-14% -$4.08M
CSOD
8
DELISTED
Cornerstone OnDemand, Inc.
CSOD
$29.9M 5.28%
679,765
-204,981
-23% -$8.48M
DBX icon
9
Dropbox
DBX
$6.81B
$27.8M 4.9%
+1,250,700
New +$25.5M
AGC
10
DELISTED
Altimeter Growth Corp
AGC
$25.7M 4.54%
+2,000,000
New +$25.6M
STGW icon
11
Stagwell
STGW
$1.84B
$23.5M 4.15%
9,377,399
– –
RVI
12
DELISTED
Retail Value Inc. Common Shares
RVI
$21.1M 3.73%
15,481,074
+1,089,442
+8% +$1.39M
GDEN
13
DELISTED
Golden Entertainment
GDEN
$18.7M 3.31%
942,099
– –
DGNS
14
DELISTED
Dragoneer Growth Opportunities Corp. II Class A Ordinary Shares
DGNS
$13.7M 2.42%
+1,200,000
New +$13.6M
OPAD icon
15
Offerpad Solutions
OPAD
$19M
$8.8M 1.55%
+5,333
New +$8.61M
MCFE
16
DELISTED
McAfee Corp. Class A Common Stock
MCFE
$7.84M 1.38%
+470,000
New +$7.77M
MKFG
17
DELISTED
Markforged Holding Corporation
MKFG
$7M 1.24%
+65,000
New +$6.72M
DGNR.WS
18
DELISTED
Dragoneer Growth Opportunities Corp. Redeemable warrants, each whole warrant exercisable for one Cla
DGNR.WS
$2.57M 0.45%
+600,000
New +$1.98M
AJAX.WS
19
DELISTED
Capri Listco Redeemable Warrants, each warrant exercisable for one Class A ordinary share at an exer
AJAX.WS
$2.46M 0.43%
+750,000
New +$2.4M
AGCWW
20
DELISTED
Altimeter Growth Corp Warrant
AGCWW
$2.19M 0.39%
+400,000
New +$2.02M
SPNV.WS
21
DELISTED
Supernova Partners Acquisition Company, Inc. Warrants, each whole warrant exercisable for one share
SPNV.WS
$547K 0.1%
+266,667
New +$599K
AONE.WS
22
DELISTED
one Warrants, each whole warrant exercisable for one Class A ordinary share at an exercise price of
AONE.WS
$53K 0.01%
+25,000
New +$42.2K
CLPR
23
Clipper Realty
CLPR
$46.5M
– –
-1,742,092
Closed -$10.5M
ECHO
24
EchoStar
ECHO
$25.5B
– –
-1,116,264
Closed -$27.8M
WOW
25
DELISTED
WideOpenWest
WOW
– –
-1,150,861
Closed -$5.97M
1
2

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MIG
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SPA
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SM
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2C
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Indaba Capital Management's Q4 2020 Portfolio in Review

As of Q4 2020, Indaba Capital Management held 29 positions worth $567M, up 80% from $315M the previous quarter. Its ten largest holdings account for 70% of the portfolio.

Indaba Capital Management deployed $110M of net new capital in Q4 2020, opening 13 new positions and adding to 5 existing holdings. Its largest new stake was Cazoo Group Ltd: 1,500 shares worth $35.4M.

By sector, the portfolio is most concentrated in Consumer Discretionary at 24% of assets, up from 16% a quarter earlier, followed by Technology and Financials.

On the sell side, the largest reduction was Cornerstone OnDemand, Inc., an estimated $8.48M trimmed.

  • Indaba Capital Management's largest Q4 2020 buy was Cazoo Group Ltd: 1,500 shares worth $35.4M.
  • Indaba Capital Management added most to At Home Group Inc. in Q4 2020, an estimated $37.8M increase.
  • Indaba Capital Management's biggest Q4 2020 reduction was Cornerstone OnDemand, Inc., cutting an estimated $8.48M.
  • Indaba Capital Management fully exited Dragoneer Growth Opportunities Corp. Units, each consisting of one Class A ordinary share, and one-f in Q4 2020, selling an estimated $36.8M.
  • Indaba Capital Management's ten largest holdings make up 70% of its $567M portfolio in Q4 2020.
  • Indaba Capital Management opened 13 new positions and closed 4 in Q4 2020.
  • Indaba Capital Management's portfolio value rose 80% quarter-over-quarter to $567M.

Based on Indaba Capital Management's 13F filing for Q4 2020, filed 16 Feb 2021.