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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
+2.05%
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
$174M
AUM Growth
-$165M
Cap. Flow
-$170M
Cap. Flow %
-97.59%
Top 10 Hldgs %
100%
Holding
17
New
–
Increased
1
Reduced
1
Closed
8

Top Buys

Rank Stock Value
1
MACK
Merrimack Pharmaceuticals, Inc.
MACK
+$1.1M

Top Sells

Rank Stock Value
1
TRHC
Tabula Rasa HealthCare, Inc. Common Stock
TRHC
+$67.2M
2
CPRI icon
Capri Holdings
CPRI
+$17.9M
3
OBDC icon
Blue Owl Capital
OBDC
+$2.51M
4
ALLG.WS
Allego N.V. Warrants
ALLG.WS
+$31.5K
5
RGTIW icon
Rigetti Computing Warrants
RGTIW
+$15.6K

Sector Composition

Rank Sector Weight
1 Technology 35.09%
2 Healthcare 11.17%
3 Financials 0.78%
4 Consumer Discretionary 0%
5 Industrials 0%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
ONTF
1
DELISTED
ON24
ONTF
$33.4M 19.18%
4,240,256
– –
SNPO
2
DELISTED
Snap One Holdings Corp. Common Stock
SNPO
$27.7M 15.91%
3,109,281
– –
LAB icon
3
Standard BioTools
LAB
$326M
$16.5M 9.45%
7,446,229
– –
MACK
4
DELISTED
Merrimack Pharmaceuticals, Inc.
MACK
$3M 1.72%
223,459
+86,657
+63% +$1.1M
OBDC icon
5
Blue Owl Capital
OBDC
$5.35B
$1.37M 0.78%
92,568
-176,807
-66% -$2.51M
HLLY.WS
6
DELISTED
Holley Inc Warrants
HLLY.WS
$368K 0.21%
669,159
– –
CPRI icon
7
Capri Holdings
CPRI
$1.77B
– –
-340,000
Closed -$17.9M
DAVEW icon
8
Dave Inc Warrants
DAVEW
$34.3M
– –
-124,900
Closed -$2.02K
RGTIW icon
9
Rigetti Computing Warrants
RGTIW
$121M
– –
-62,500
Closed -$15.6K
MKFG.WS
10
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
– –
-25,000
Closed -$3.61K
MVLAW
11
DELISTED
Movella Holdings Inc. Warrant
MVLAW
– –
-125,265
Closed -$4.71K
OPAD.WS
12
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
– –
-266,667
Closed -$4.03K
TRHC
13
DELISTED
Tabula Rasa HealthCare, Inc. Common Stock
TRHC
– –
-6,521,578
Closed -$67.2M
ALLG.WS
14
DELISTED
Allego N.V. Warrants
ALLG.WS
– –
-75,000
Closed -$31.5K

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MIG
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SPA
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Indaba Capital Management's Q4 2023 Portfolio in Review

As of Q4 2023, Indaba Capital Management held 17 positions worth $174M, down 49% from $339M the previous quarter. Its ten largest holdings account for 100% of the portfolio.

Indaba Capital Management withdrew a net $170M in Q4 2023, closing 8 positions and reducing 1 holding. Its most notable exit was Tabula Rasa HealthCare, Inc. Common Stock, an estimated $67.2M position sold in full.

By sector, the portfolio is most concentrated in Technology at 35% of assets, up from 16% a quarter earlier, followed by Healthcare and Financials.

Against the trend, Indaba Capital Management added an estimated $1.1M to Merrimack Pharmaceuticals, Inc..

  • Indaba Capital Management added most to Merrimack Pharmaceuticals, Inc. in Q4 2023, an estimated $1.1M increase.
  • Indaba Capital Management's biggest Q4 2023 reduction was Blue Owl Capital, cutting an estimated $2.51M.
  • Indaba Capital Management fully exited Tabula Rasa HealthCare, Inc. Common Stock in Q4 2023, selling an estimated $67.2M.
  • Indaba Capital Management's ten largest holdings make up 100% of its $174M portfolio in Q4 2023.
  • Indaba Capital Management opened 0 new positions and closed 8 in Q4 2023.
  • Indaba Capital Management's portfolio value fell 49% quarter-over-quarter to $174M.

Based on Indaba Capital Management's 13F filing for Q4 2023, filed 14 Feb 2024.