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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
+5.66%
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
$795M
AUM Growth
+$229M
Cap. Flow
+$38.3M
Cap. Flow %
4.82%
Top 10 Hldgs %
49.88%
Holding
57
New
29
Increased
8
Reduced
5
Closed
2

Top Buys

Rank Stock Value
1
QLYS icon
Qualys
QLYS
+$40.3M
2
DISCK
Discovery, Inc. Series C Common Stock
DISCK
+$34.5M
3
TBA
Thoma Bravo Advantage
TBA
+$15.6M
4
MSP
Datto Holding Corp.
MSP
+$15.6M
5
SMRT icon
SmartRent
SMRT
+$13.2M

Top Sells

Rank Stock Value
1
HOME
At Home Group Inc.
HOME
+$61.4M
2
CZOO
Cazoo Group Ltd
CZOO
+$35.4M
3
AGC
Altimeter Growth Corp
AGC
+$22.2M
4
CCC
CCC Intelligent Solutions
CCC
+$10.5M
5
MKFG
Markforged Holding Corporation
MKFG
+$7M

Sector Composition

Rank Sector Weight
1 Technology 19.92%
2 Consumer Discretionary 12.07%
3 Financials 9.59%
4 Real Estate 4.58%
5 Healthcare 4.23%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
BNFT
1
DELISTED
Benefitfocus, Inc.
BNFT
$42.8M 5.38%
3,097,800
+343,306
+12% +$4.94M
OBDC icon
2
Blue Owl Capital
OBDC
$5.35B
$42.4M 5.33%
3,076,465
+338,049
+12% +$4.6M
DBX icon
3
Dropbox
DBX
$6.81B
$42.4M 5.33%
1,588,852
+338,152
+27% +$8.14M
CSOD
4
DELISTED
Cornerstone OnDemand, Inc.
CSOD
$39.9M 5.01%
915,050
+235,285
+35% +$10.8M
QLYS icon
5
Qualys
QLYS
$4.84B
$37.7M 4.74%
+360,127
New +$40.3M
LAB icon
6
Standard BioTools
LAB
$326M
$33.7M 4.23%
7,446,229
+1,915,629
+35% +$10.5M
EVRI
7
DELISTED
Everi Holdings
EVRI
$30.2M 3.79%
2,139,347
-84,364
-4% -$1.2M
DISCK
8
DELISTED
Discovery, Inc. Series C Common Stock
DISCK
$30.1M 3.78%
+814,611
New +$34.5M
GDEN
9
DELISTED
Golden Entertainment
GDEN
$29.8M 3.75%
1,179,391
+237,292
+25% +$5.33M
STGW icon
10
Stagwell
STGW
$1.84B
$29.3M 3.68%
9,377,399
– –
RVI
11
DELISTED
Retail Value Inc. Common Shares
RVI
$28.3M 3.56%
16,492,904
+1,011,830
+7% +$1.55M
HOME
12
DELISTED
At Home Group Inc.
HOME
$23.5M 2.96%
820,000
-2,443,986
-75% -$61.4M
CCC
13
CCC Intelligent Solutions
CCC
$3.42B
$20.3M 2.55%
2,000,000
-866,971
-30% -$10.5M
MCFE
14
DELISTED
McAfee Corp. Class A Common Stock
MCFE
$20.3M 2.55%
891,634
+421,634
+90% +$8.77M
MSP
15
DELISTED
Datto Holding Corp.
MSP
$14.3M 1.8%
+623,462
New +$15.6M
TBA
16
DELISTED
Thoma Bravo Advantage
TBA
$14.1M 1.77%
+1,350,000
New +$15.6M
SMRT icon
17
SmartRent
SMRT
$183M
$12.5M 1.57%
+1,250,000
New +$13.2M
HLLY icon
18
Holley
HLLY
$314M
$12.5M 1.57%
+1,250,000
New +$12.7M
BOX icon
19
Box
BOX
$4.02B
$11M 1.39%
+480,825
New +$9.36M
DGNS
20
DELISTED
Dragoneer Growth Opportunities Corp. II Class A Ordinary Shares
DGNS
$10.3M 1.29%
1,000,000
-200,000
-17% -$2.37M
DGNU
21
DELISTED
Dragoneer Growth Opportunities Corp. III Class A Ordinary Shares
DGNU
$10.1M 1.27%
+1,000,000
New +$10.1M
CRU
22
DELISTED
Crucible Acquisition Corporation
CRU
$10.1M 1.26%
+1,000,000
New +$10M
OPAD icon
23
Offerpad Solutions
OPAD
$19M
$8.09M 1.02%
5,333
– –
PFDRU
24
DELISTED
Pathfinder Acquisition Corporation Unit
PFDRU
$6.2M 0.78%
+626,323
New +$6.36M
ACQRU
25
DELISTED
Independence Holdings Corp. Units
ACQRU
$6M 0.75%
+600,000
New +$6.04M
1
2 3

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CI
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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 Q1 2021 Portfolio in Review

As of Q1 2021, Indaba Capital Management held 57 positions worth $795M, up 40% from $567M the previous quarter. Its ten largest holdings account for 50% of the portfolio.

Indaba Capital Management deployed $38.3M of net new capital in Q1 2021, opening 29 new positions and adding to 8 existing holdings. Its largest new stake was Qualys: 360,127 shares worth $37.7M.

By sector, the portfolio is most concentrated in Technology at 20% of assets, up from 14% a quarter earlier, followed by Consumer Discretionary and Financials.

On the sell side, the largest reduction was At Home Group Inc., an estimated $61.4M trimmed.

  • Indaba Capital Management's largest Q1 2021 buy was Qualys: 360,127 shares worth $37.7M.
  • Indaba Capital Management added most to Cornerstone OnDemand, Inc. in Q1 2021, an estimated $10.8M increase.
  • Indaba Capital Management's biggest Q1 2021 reduction was At Home Group Inc., cutting an estimated $61.4M.
  • Indaba Capital Management fully exited Cazoo Group Ltd in Q1 2021, selling an estimated $35.4M.
  • Indaba Capital Management's ten largest holdings make up 50% of its $795M portfolio in Q1 2021.
  • Indaba Capital Management opened 29 new positions and closed 2 in Q1 2021.
  • Indaba Capital Management's portfolio value rose 40% quarter-over-quarter to $795M.

Based on Indaba Capital Management's 13F filing for Q1 2021, filed 17 May 2021.