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ICM

Indaba Capital Management Portfolio holdings

AUM $33.8M
1-Year Est. Return 33.83%
This Fund
S&P 500
This Quarter Est. Return
-8.09%
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
$883M
AUM Growth
-$49.2M
Cap. Flow
-$119M
Cap. Flow %
-13.51%
Top 10 Hldgs %
58.49%
Holding
53
New
6
Increased
9
Reduced
3
Closed
8

Top Buys

Rank Stock Value
1
MNTV
Momentive Global Inc. Common Stock
MNTV
+$51.3M
2
SPLK
Splunk Inc
SPLK
+$48.3M
3
EVBG
Everbridge, Inc. Common Stock
EVBG
+$23.3M
4
CXM icon
Sprinklr
CXM
+$17.9M
5
IAA
IAA, Inc. Common Stock
IAA
+$16.4M

Top Sells

Rank Stock Value
1
MCFE
McAfee Corp. Class A Common Stock
MCFE
+$45.8M
2
OBDC icon
Blue Owl Capital
OBDC
+$27.1M
3
HLLY icon
Holley
HLLY
+$16.6M
4
BLND icon
Blend Labs
BLND
+$15.7M
5
PLAY icon
Dave & Buster's
PLAY
+$13.3M

Sector Composition

Rank Sector Weight
1 Technology 38.1%
2 Communication Services 11.92%
3 Industrials 10.07%
4 Consumer Discretionary 7.56%
5 Healthcare 3.03%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
HRT
1
DELISTED
HireRight Holdings Corporation
HRT
$63.7M 7.21%
3,726,043
+629,510
+20% +$8.48M
SPLK
2
DELISTED
Splunk Inc
SPLK
$58.7M 6.64%
+394,772
New +$48.3M
ONTF
3
DELISTED
ON24
ONTF
$55.8M 6.31%
4,240,256
+740,256
+21% +$11.1M
IS
4
DELISTED
ironSource Ltd.
IS
$52.7M 5.96%
10,974,910
+1,726,647
+19% +$10.5M
BNFT
5
DELISTED
Benefitfocus, Inc.
BNFT
$50M 5.66%
3,963,694
+656,613
+20% +$7.01M
MNTV
6
DELISTED
Momentive Global Inc. Common Stock
MNTV
$50M 5.66%
+3,073,617
New +$51.3M
SNPO
7
DELISTED
Snap One Holdings Corp. Common Stock
SNPO
$45.6M 5.16%
3,088,393
+19,393
+0.6% +$357K
CXM icon
8
Sprinklr
CXM
$1.33B
$42M 4.75%
3,527,929
+1,483,757
+73% +$17.9M
GDEN
9
DELISTED
Golden Entertainment
GDEN
$39M 4.42%
672,280
+141,589
+27% +$7.25M
INST
10
DELISTED
Instructure Holdings, Inc.
INST
$37.3M 4.22%
1,859,503
+23,835
+1% +$517K
LAB icon
11
Standard BioTools
LAB
$326M
$26.7M 3.03%
7,446,229
– –
IAS
12
DELISTED
Integral Ad Science
IAS
$26.6M 3.01%
1,927,262
+738,964
+62% +$12.6M
FA icon
13
First Advantage
FA
$3.37B
$25.2M 2.86%
1,250,000
– –
BLND icon
14
Blend Labs
BLND
$409M
$23.1M 2.62%
4,053,956
-2,021,044
-33% -$15.7M
EVBG
15
DELISTED
Everbridge, Inc. Common Stock
EVBG
$21.5M 2.44%
+493,700
New +$23.3M
STGW icon
16
Stagwell
STGW
$1.84B
$20.7M 2.34%
2,853,318
-876,883
-24% -$6.58M
IAA
17
DELISTED
IAA, Inc. Common Stock
IAA
$15.3M 1.73%
+400,000
New +$16.4M
HLLY icon
18
Holley
HLLY
$314M
$12.5M 1.41%
895,606
-1,292,582
-59% -$16.6M
DV icon
19
DoubleVerify
DV
$1.62B
$8.05M 0.91%
+319,800
New +$8.32M
HLLY.WS
20
DELISTED
Holley Inc Warrants
HLLY.WS
$2.78M 0.32%
669,159
– –
CZOO.WS
21
DELISTED
Cazoo Group Ltd Redeemable Warrants, each warrant exercisable for one Class A ordinary share at an exercise price of $11.50 per share
CZOO.WS
$285K 0.03%
750,000
– –
OPAD.WS
22
DELISTED
Offerpad Solutions Inc. Warrants, Every 15 warrants will be exercisable for one share of Class A Common Stock at an exercise price of $172.50 per share of Class A Common Stock
OPAD.WS
$216K 0.02%
266,667
– –
DAVEW icon
23
Dave Inc Warrants
DAVEW
$34.3M
$183K 0.02%
125,000
– –
OPALW
24
DELISTED
OPAL Fuels Inc. Warrant
OPALW
$140K 0.02%
105,000
– –
CRU.WS
25
DELISTED
Crucible Acquisition Corporation Redeemable warrants, each whole warrant exercisable for one share of Class A common stock at an exercise price of $11.50
CRU.WS
$115K 0.01%
329,623
– –
1
2

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MIG
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SPA
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Indaba Capital Management's Q1 2022 Portfolio in Review

As of Q1 2022, Indaba Capital Management held 53 positions worth $883M, down 5.3% from $933M the previous quarter. Its ten largest holdings account for 58% of the portfolio.

Indaba Capital Management withdrew a net $119M in Q1 2022, closing 8 positions and reducing 3 holdings. Its most notable exit was McAfee Corp. Class A Common Stock, an estimated $45.8M position sold in full.

By sector, the portfolio is most concentrated in Technology at 38% of assets, down from 40% a quarter earlier, followed by Communication Services and Industrials.

Against the trend, Indaba Capital Management opened a new position in Momentive Global Inc. Common Stock worth $50M.

  • Indaba Capital Management's largest Q1 2022 buy was Momentive Global Inc. Common Stock: 3,073,617 shares worth $50M.
  • Indaba Capital Management added most to Sprinklr in Q1 2022, an estimated $17.9M increase.
  • Indaba Capital Management's biggest Q1 2022 reduction was Holley, cutting an estimated $16.6M.
  • Indaba Capital Management fully exited McAfee Corp. Class A Common Stock in Q1 2022, selling an estimated $45.8M.
  • Indaba Capital Management's ten largest holdings make up 58% of its $883M portfolio in Q1 2022.
  • Indaba Capital Management opened 6 new positions and closed 8 in Q1 2022.
  • Indaba Capital Management's portfolio value fell 5.3% quarter-over-quarter to $883M.

Based on Indaba Capital Management's 13F filing for Q1 2022, filed 16 May 2022.