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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
+6.92%
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
$517M
AUM Growth
-$133M
Cap. Flow
-$286M
Cap. Flow %
-55.38%
Top 10 Hldgs %
68.7%
Holding
43
New
–
Increased
1
Reduced
9
Closed
8

Top Buys

Rank Stock Value
1
EVBG
Everbridge, Inc. Common Stock
EVBG
+$2.98M

Top Sells

Rank Stock Value
1
IAA
IAA, Inc. Common Stock
IAA
+$23M
2
ENV
ENVESTNET, INC.
ENV
+$19.4M
3
INST
Instructure Holdings, Inc.
INST
+$18.6M
4
SPLK
Splunk Inc
SPLK
+$13.8M
5
BLKB icon
Blackbaud
BLKB
+$13M

Sector Composition

Rank Sector Weight
1 Technology 32.59%
2 Industrials 11.64%
3 Communication Services 9.39%
4 Consumer Discretionary 3.9%
5 Healthcare 1.69%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
BNFT
1
DELISTED
Benefitfocus, Inc.
BNFT
$41.5M 8.02%
3,963,694
– –
ONTF
2
DELISTED
ON24
ONTF
$36.6M 7.08%
4,240,256
– –
TRHC
3
DELISTED
Tabula Rasa HealthCare, Inc. Common Stock
TRHC
$32.3M 6.25%
6,521,578
– –
BLKB icon
4
Blackbaud
BLKB
$1.5B
$31.6M 6.12%
537,318
-232,573
-30% -$13M
HRT
5
DELISTED
HireRight Holdings Corporation
HRT
$27.9M 5.4%
2,351,799
-415,641
-15% -$5.17M
CXM icon
6
Sprinklr
CXM
$1.33B
$25.9M 5.01%
3,172,672
-355,257
-10% -$3.08M
MNTV
7
DELISTED
Momentive Global Inc. Common Stock
MNTV
$25.8M 5%
3,692,083
-471,193
-11% -$3.4M
SNPO
8
DELISTED
Snap One Holdings Corp. Common Stock
SNPO
$23M 4.46%
3,109,281
– –
SPLK
9
DELISTED
Splunk Inc
SPLK
$22.3M 4.32%
259,095
-171,367
-40% -$13.8M
IAS
10
DELISTED
Integral Ad Science
IAS
$21M 4.06%
2,385,840
-41,962
-2% -$356K
EVBG
11
DELISTED
Everbridge, Inc. Common Stock
EVBG
$20.4M 3.95%
690,487
+97,123
+16% +$2.98M
GDEN
12
DELISTED
Golden Entertainment
GDEN
$20.2M 3.9%
538,821
-51,678
-9% -$2.13M
LAB icon
13
Standard BioTools
LAB
$326M
$8.71M 1.69%
7,446,229
– –
INST
14
DELISTED
Instructure Holdings, Inc.
INST
$5.65M 1.09%
241,103
-794,988
-77% -$18.6M
BLND icon
15
Blend Labs
BLND
$409M
$2.9M 0.56%
2,015,236
– –
STGW icon
16
Stagwell
STGW
$1.84B
$1.73M 0.33%
278,542
-315,020
-53% -$2.27M
HLLY.WS
17
DELISTED
Holley Inc Warrants
HLLY.WS
$181K 0.04%
669,159
– –
MVLAW
18
DELISTED
Movella Holdings Inc. Warrant
MVLAW
$28.8K 0.01%
125,265
– –
ALLG.WS
19
DELISTED
Allego N.V. Warrants
ALLG.WS
$7.5K ﹤0.01%
75,000
– –
CZOO.WS
20
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
$6.08K ﹤0.01%
750,000
– –
OPAD.WS
21
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
$6K ﹤0.01%
266,667
– –
MKFG.WS
22
DELISTED
Markforged Holding Corporation Warrants, each whole warrant exercisable to purchase one-tenth (1/10th) of a share of Common Stock at an exercise price of $115.00 per share
MKFG.WS
$5.25K ﹤0.01%
25,000
– –
RGTIW icon
23
Rigetti Computing Warrants
RGTIW
$121M
$5.06K ﹤0.01%
62,500
– –
ANAC.WS
24
DELISTED
Arctos NorthStar Acquisition Corp. Warrants, each whole warrant exercisable for one Class A ordinary share at an exercise price of $11.50
ANAC.WS
$4.23K ﹤0.01%
100,000
– –
DAVEW icon
25
Dave Inc Warrants
DAVEW
$34.3M
$4.13K ﹤0.01%
125,000
– –
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 Q4 2022 Portfolio in Review

As of Q4 2022, Indaba Capital Management held 43 positions worth $517M, down 20% from $650M the previous quarter. Its ten largest holdings account for 69% of the portfolio.

Indaba Capital Management withdrew a net $286M in Q4 2022, closing 8 positions and reducing 9 holdings. Its most notable exit was IAA, Inc. Common Stock, an estimated $23M position sold in full.

By sector, the portfolio is most concentrated in Technology at 33% of assets, down from 34% a quarter earlier, followed by Industrials and Communication Services.

Against the trend, Indaba Capital Management added an estimated $2.98M to Everbridge, Inc. Common Stock.

  • Indaba Capital Management added most to Everbridge, Inc. Common Stock in Q4 2022, an estimated $2.98M increase.
  • Indaba Capital Management's biggest Q4 2022 reduction was Instructure Holdings, Inc., cutting an estimated $18.6M.
  • Indaba Capital Management fully exited IAA, Inc. Common Stock in Q4 2022, selling an estimated $23M.
  • Indaba Capital Management's ten largest holdings make up 69% of its $517M portfolio in Q4 2022.
  • Indaba Capital Management opened 0 new positions and closed 8 in Q4 2022.
  • Indaba Capital Management's portfolio value fell 20% quarter-over-quarter to $517M.

Based on Indaba Capital Management's 13F filing for Q4 2022, filed 14 Feb 2023.