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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
-20.59%
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
$760M
AUM Growth
-$123M
Cap. Flow
-$54.9M
Cap. Flow %
-7.22%
Top 10 Hldgs %
57%
Holding
50
New
5
Increased
5
Reduced
6
Closed
2

Top Buys

Rank Stock Value
1
ZEN
ZENDESK INC
ZEN
+$77.2M
2
BLKB icon
Blackbaud
BLKB
+$32.5M
3
ENV
ENVESTNET, INC.
ENV
+$29.9M
4
TRHC
Tabula Rasa HealthCare, Inc. Common Stock
TRHC
+$19.4M
5
APP icon
Applovin
APP
+$14.4M

Top Sells

Rank Stock Value
1
IS
ironSource Ltd.
IS
+$29.7M
2
STGW icon
Stagwell
STGW
+$14.7M
3
HLLY icon
Holley
HLLY
+$12.5M
4
FA icon
First Advantage
FA
+$8.99M
5
DV icon
DoubleVerify
DV
+$8.05M

Sector Composition

Rank Sector Weight
1 Technology 39.55%
2 Industrials 12.69%
3 Communication Services 9.97%
4 Consumer Discretionary 6.24%
5 Healthcare 1.57%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
ZEN
1
DELISTED
ZENDESK INC
ZEN
$58M 7.63%
+782,700
New +$77.2M
HRT
2
DELISTED
HireRight Holdings Corporation
HRT
$51.5M 6.77%
3,624,421
-101,622
-3% -$1.58M
INST
3
DELISTED
Instructure Holdings, Inc.
INST
$42.2M 5.55%
1,859,503
– –
ONTF
4
DELISTED
ON24
ONTF
$40.2M 5.29%
4,240,256
– –
SPLK
5
DELISTED
Splunk Inc
SPLK
$40.1M 5.27%
452,964
+58,192
+15% +$6.4M
CXM icon
6
Sprinklr
CXM
$1.33B
$35.7M 4.69%
3,527,929
– –
MNTV
7
DELISTED
Momentive Global Inc. Common Stock
MNTV
$35.1M 4.62%
3,987,050
+913,433
+30% +$12.2M
BLKB icon
8
Blackbaud
BLKB
$1.5B
$32.5M 4.27%
+559,054
New +$32.5M
BNFT
9
DELISTED
Benefitfocus, Inc.
BNFT
$30.8M 4.06%
3,963,694
– –
SNPO
10
DELISTED
Snap One Holdings Corp. Common Stock
SNPO
$28.5M 3.75%
3,109,281
+20,888
+0.7% +$253K
IAS
11
DELISTED
Integral Ad Science
IAS
$24.1M 3.17%
2,427,802
+500,540
+26% +$5.97M
GDEN
12
DELISTED
Golden Entertainment
GDEN
$23.8M 3.13%
602,499
-69,781
-10% -$3.28M
IAA
13
DELISTED
IAA, Inc. Common Stock
IAA
$23.6M 3.11%
720,650
+320,650
+80% +$11.7M
ENV
14
DELISTED
ENVESTNET, INC.
ENV
$23.1M 3.04%
+437,397
New +$29.9M
EVBG
15
DELISTED
Everbridge, Inc. Common Stock
EVBG
$13.8M 1.81%
493,700
– –
TRHC
16
DELISTED
Tabula Rasa HealthCare, Inc. Common Stock
TRHC
$13.3M 1.75%
+5,169,024
New +$19.4M
APP icon
17
Applovin
APP
$132B
$12.4M 1.63%
+359,400
New +$14.4M
LAB icon
18
Standard BioTools
LAB
$326M
$11.9M 1.57%
7,446,229
– –
FA icon
19
First Advantage
FA
$3.37B
$8.63M 1.13%
680,761
-569,239
-46% -$8.99M
IS
20
DELISTED
ironSource Ltd.
IS
$5M 0.66%
2,102,147
-8,872,763
-81% -$29.7M
BLND icon
21
Blend Labs
BLND
$409M
$4.76M 0.63%
2,015,236
-2,038,720
-50% -$7.62M
STGW icon
22
Stagwell
STGW
$1.84B
$4.25M 0.56%
781,926
-2,071,392
-73% -$14.7M
HLLY.WS
23
DELISTED
Holley Inc Warrants
HLLY.WS
$1.67M 0.22%
669,159
– –
OPALW
24
DELISTED
OPAL Fuels Inc. Warrant
OPALW
$110K 0.01%
105,000
– –
OPAD.WS
25
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
$68K 0.01%
266,667
– –
1
2

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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 Q2 2022 Portfolio in Review

As of Q2 2022, Indaba Capital Management held 50 positions worth $760M, down 14% from $883M the previous quarter. Its ten largest holdings account for 57% of the portfolio.

Indaba Capital Management withdrew a net $54.9M in Q2 2022, closing 2 positions and reducing 6 holdings. Its most notable exit was Holley, an estimated $12.5M position sold in full.

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

Against the trend, Indaba Capital Management opened a new position in ZENDESK INC worth $58M.

  • Indaba Capital Management's largest Q2 2022 buy was ZENDESK INC: 782,700 shares worth $58M.
  • Indaba Capital Management added most to Momentive Global Inc. Common Stock in Q2 2022, an estimated $12.2M increase.
  • Indaba Capital Management's biggest Q2 2022 reduction was ironSource Ltd., cutting an estimated $29.7M.
  • Indaba Capital Management fully exited Holley in Q2 2022, selling an estimated $12.5M.
  • Indaba Capital Management's ten largest holdings make up 57% of its $760M portfolio in Q2 2022.
  • Indaba Capital Management opened 5 new positions and closed 2 in Q2 2022.
  • Indaba Capital Management's portfolio value fell 14% quarter-over-quarter to $760M.

Based on Indaba Capital Management's 13F filing for Q2 2022, filed 15 Aug 2022.