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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
+13.2%
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
$926M
AUM Growth
+$131M
Cap. Flow
-$174M
Cap. Flow %
-18.82%
Top 10 Hldgs %
57.32%
Holding
80
New
24
Increased
5
Reduced
3
Closed
22

Top Buys

Rank Stock Value
1
IS
ironSource Ltd.
IS
+$90.5M
2
IAS
Integral Ad Science
IAS
+$28.1M
3
CSOD
Cornerstone OnDemand, Inc.
CSOD
+$10.6M
4
HLLY icon
Holley
HLLY
+$8.02M
5
ACQR
Independence Holdings Corp. Class A Ordinary Share
ACQR
+$5.93M

Top Sells

Rank Stock Value
1
EVRI
Everi Holdings
EVRI
+$30.2M
2
DISCK
Discovery, Inc. Series C Common Stock
DISCK
+$30.1M
3
MCFE
McAfee Corp. Class A Common Stock
MCFE
+$20.3M
4
GDEN
Golden Entertainment
GDEN
+$17.4M
5
TBA
Thoma Bravo Advantage
TBA
+$14.1M

Sector Composition

Rank Sector Weight
1 Technology 24.4%
2 Financials 10.95%
3 Communication Services 8.95%
4 Consumer Discretionary 7.58%
5 Healthcare 4.95%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
IS
1
DELISTED
ironSource Ltd.
IS
$88.4M 9.55%
+8,422,763
New +$90.5M
CSOD
2
DELISTED
Cornerstone OnDemand, Inc.
CSOD
$59M 6.37%
1,144,097
+229,047
+25% +$10.6M
STGW icon
3
Stagwell
STGW
$1.84B
$54.9M 5.92%
9,377,399
– –
BNFT
4
DELISTED
Benefitfocus, Inc.
BNFT
$46.6M 5.04%
3,307,081
+209,281
+7% +$2.95M
LAB icon
5
Standard BioTools
LAB
$326M
$45.9M 4.95%
7,446,229
– –
OBDC icon
6
Blue Owl Capital
OBDC
$5.35B
$43.9M 4.74%
3,076,465
– –
DBX icon
7
Dropbox
DBX
$6.81B
$43.6M 4.71%
1,438,852
-150,000
-9% -$4.1M
QLYS icon
8
Qualys
QLYS
$4.84B
$36.3M 3.92%
360,127
– –
RVI
9
DELISTED
Retail Value Inc. Common Shares
RVI
$32.9M 3.56%
16,492,904
– –
GDEN
10
DELISTED
Golden Entertainment
GDEN
$32.5M 3.5%
724,391
-455,000
-39% -$17.4M
IAS
11
DELISTED
Integral Ad Science
IAS
$28.1M 3.03%
+1,363,016
New +$28.1M
HLLY icon
12
Holley
HLLY
$314M
$20.5M 2.22%
2,050,000
+800,000
+64% +$8.02M
CCC
13
CCC Intelligent Solutions
CCC
$3.42B
$19.9M 2.15%
2,000,000
– –
MSP
14
DELISTED
Datto Holding Corp.
MSP
$17.4M 1.87%
623,462
– –
HOME
15
DELISTED
At Home Group Inc.
HOME
$17.2M 1.85%
466,160
-353,840
-43% -$12.1M
SMRT icon
16
SmartRent
SMRT
$183M
$15.4M 1.66%
1,250,000
– –
DGNS
17
DELISTED
Dragoneer Growth Opportunities Corp. II Class A Ordinary Shares
DGNS
$10.1M 1.09%
1,000,000
– –
DGNU
18
DELISTED
Dragoneer Growth Opportunities Corp. III Class A Ordinary Shares
DGNU
$10M 1.08%
1,000,000
– –
CRU
19
DELISTED
Crucible Acquisition Corporation
CRU
$9.7M 1.05%
1,000,000
– –
AGCB
20
DELISTED
Altimeter Growth Corp 2
AGCB
$6.66M 0.72%
650,000
+350,000
+117% +$3.68M
PACX
21
DELISTED
Pioneer Merger Corp. Class A Ordinary Share
PACX
$5.95M 0.64%
600,000
– –
ACQR
22
DELISTED
Independence Holdings Corp. Class A Ordinary Share
ACQR
$5.94M 0.64%
+600,000
New +$5.93M
OPAL icon
23
OPAL Fuels
OPAL
$67.1M
$5.14M 0.56%
+525,000
New +$5.17M
CPARU
24
DELISTED
Catalyst Partners Acquisition Corp. Unit
CPARU
$5.05M 0.55%
+500,000
New +$5.03M
SRNG
25
DELISTED
Soaring Eagle Acquisition Corp. Class A Ordinary Share
SRNG
$4.98M 0.54%
+500,000
New +$5M
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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SWM
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Indaba Capital Management's Q2 2021 Portfolio in Review

As of Q2 2021, Indaba Capital Management held 80 positions worth $926M, up 16% from $795M the previous quarter. Its ten largest holdings account for 57% of the portfolio.

Indaba Capital Management withdrew a net $174M in Q2 2021, closing 22 positions and reducing 3 holdings. Its most notable exit was Everi Holdings, an estimated $30.2M position sold in full.

By sector, the portfolio is most concentrated in Technology at 24% of assets, up from 20% a quarter earlier, followed by Financials and Communication Services.

Against the trend, Indaba Capital Management opened a new position in ironSource Ltd. worth $88.4M.

  • Indaba Capital Management's largest Q2 2021 buy was ironSource Ltd.: 8,422,763 shares worth $88.4M.
  • Indaba Capital Management added most to Cornerstone OnDemand, Inc. in Q2 2021, an estimated $10.6M increase.
  • Indaba Capital Management's biggest Q2 2021 reduction was Golden Entertainment, cutting an estimated $17.4M.
  • Indaba Capital Management fully exited Everi Holdings in Q2 2021, selling an estimated $30.2M.
  • Indaba Capital Management's ten largest holdings make up 57% of its $926M portfolio in Q2 2021.
  • Indaba Capital Management opened 24 new positions and closed 22 in Q2 2021.
  • Indaba Capital Management's portfolio value rose 16% quarter-over-quarter to $926M.

Based on Indaba Capital Management's 13F filing for Q2 2021, filed 16 Aug 2021.