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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
-2.51%
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
$944M
AUM Growth
+$18M
Cap. Flow
-$42.3M
Cap. Flow %
-4.48%
Top 10 Hldgs %
55.37%
Holding
76
New
20
Increased
3
Reduced
8
Closed
20

Top Buys

Rank Stock Value
1
ONTF
ON24
ONTF
+$65.9M
2
SNPO
Snap One Holdings Corp. Common Stock
SNPO
+$55.9M
3
MCFE
McAfee Corp. Class A Common Stock
MCFE
+$42.6M
4
INST
Instructure Holdings, Inc.
INST
+$37.4M
5
BLND icon
Blend Labs
BLND
+$35.7M

Top Sells

Rank Stock Value
1
CSOD
Cornerstone OnDemand, Inc.
CSOD
+$59M
2
DBX icon
Dropbox
DBX
+$43.6M
3
QLYS icon
Qualys
QLYS
+$36.3M
4
CCC
CCC Intelligent Solutions
CCC
+$19.9M
5
HOME
At Home Group Inc.
HOME
+$17.2M

Sector Composition

Rank Sector Weight
1 Technology 36.66%
2 Communication Services 9%
3 Financials 6.89%
4 Healthcare 6.59%
5 Consumer Discretionary 5.48%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
IS
1
DELISTED
ironSource Ltd.
IS
$101M 10.65%
9,248,263
+825,500
+10% +$8.18M
STGW icon
2
Stagwell
STGW
$1.84B
$54.5M 5.77%
7,106,996
-2,270,403
-24% -$15.1M
SNPO
3
DELISTED
Snap One Holdings Corp. Common Stock
SNPO
$50M 5.3%
+3,000,000
New +$55.9M
LAB icon
4
Standard BioTools
LAB
$326M
$49.1M 5.2%
7,446,229
– –
ONTF
5
DELISTED
ON24
ONTF
$47.3M 5.01%
+2,373,673
New +$65.9M
INST
6
DELISTED
Instructure Holdings, Inc.
INST
$39.6M 4.2%
+1,753,709
New +$37.4M
SPY icon
7
PUT
State Street SPDR S&P 500 ETF Trust
SPY
$778B
$38.6M 4.09%
+90,000
New +$39.7M
IWO icon
8
PUT
iShares Russell 2000 Growth ETF
IWO
$14.5B
$38.2M 4.04%
+130,000
New +$39.1M
BNFT
9
DELISTED
Benefitfocus, Inc.
BNFT
$36.7M 3.89%
3,307,081
– –
MCFE
10
DELISTED
McAfee Corp. Class A Common Stock
MCFE
$36.5M 3.86%
+1,650,000
New +$42.6M
IAS
11
DELISTED
Integral Ad Science
IAS
$30.5M 3.23%
1,476,463
+113,447
+8% +$2.24M
OBDC icon
12
Blue Owl Capital
OBDC
$5.35B
$29.2M 3.1%
2,070,718
-1,005,747
-33% -$14.6M
BLND icon
13
Blend Labs
BLND
$409M
$28.3M 3%
+2,102,829
New +$35.7M
HLLY icon
14
Holley
HLLY
$314M
$27.5M 2.91%
2,300,000
+250,000
+12% +$2.81M
RVI
15
DELISTED
Retail Value Inc. Common Shares
RVI
$26.7M 2.83%
11,038,713
-5,454,191
-33% -$12.4M
PSFE icon
16
Paysafe
PSFE
$407M
$26.4M 2.79%
+283,333
New +$32.4M
GDEN
17
DELISTED
Golden Entertainment
GDEN
$24.3M 2.57%
494,391
-230,000
-32% -$10.7M
AGL icon
18
Agilon Health
AGL
$1.64B
$13.1M 1.39%
+20,000
New +$17.1M
MSP
19
DELISTED
Datto Holding Corp.
MSP
$10.7M 1.13%
447,404
-176,058
-28% -$4.56M
DGNU
20
DELISTED
Dragoneer Growth Opportunities Corp. III Class A Ordinary Shares
DGNU
$9.8M 1.04%
1,000,000
– –
OPAD icon
21
Offerpad Solutions
OPAD
$19M
$6.98M 0.74%
+5,333
New +$8.19M
MLNK
22
DELISTED
MeridianLink
MLNK
$6.71M 0.71%
+300,000
New +$7.4M
BKSY icon
23
BlackSky Technology
BKSY
$800M
$5.17M 0.55%
+62,500
New +$5.13M
AGCB
24
DELISTED
Altimeter Growth Corp 2
AGCB
$4.95M 0.52%
500,000
-150,000
-23% -$1.49M
FWAC
25
DELISTED
Fifth Wall Acquisition Corp. III Class A Ordinary Shares
FWAC
$4.91M 0.52%
500,000
– –
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 Q3 2021 Portfolio in Review

As of Q3 2021, Indaba Capital Management held 76 positions worth $944M, up 1.9% from $926M the previous quarter. Its ten largest holdings account for 55% of the portfolio.

Indaba Capital Management withdrew a net $42.3M in Q3 2021, closing 20 positions and reducing 8 holdings. Its most notable exit was Cornerstone OnDemand, Inc., an estimated $59M position sold in full.

By sector, the portfolio is most concentrated in Technology at 37% of assets, up from 24% a quarter earlier, followed by Communication Services and Financials.

Against the trend, Indaba Capital Management opened a new position in ON24 worth $47.3M.

  • Indaba Capital Management's largest Q3 2021 buy was ON24: 2,373,673 shares worth $47.3M.
  • Indaba Capital Management added most to ironSource Ltd. in Q3 2021, an estimated $8.18M increase.
  • Indaba Capital Management's biggest Q3 2021 reduction was Stagwell, cutting an estimated $15.1M.
  • Indaba Capital Management fully exited Cornerstone OnDemand, Inc. in Q3 2021, selling an estimated $59M.
  • Indaba Capital Management's ten largest holdings make up 55% of its $944M portfolio in Q3 2021.
  • Indaba Capital Management opened 20 new positions and closed 20 in Q3 2021.
  • Indaba Capital Management's portfolio value rose 1.9% quarter-over-quarter to $944M.

Based on Indaba Capital Management's 13F filing for Q3 2021, filed 15 Nov 2021.