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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
-6.34%
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
$167M
AUM Growth
-$40.9M
Cap. Flow
-$111M
Cap. Flow %
-66.83%
Top 10 Hldgs %
97.41%
Holding
13
New
4
Increased
–
Reduced
1
Closed
1

Top Buys

Rank Stock Value
1
BLKB icon
Blackbaud
BLKB
+$13.7M
2
BATRK icon
Atlanta Braves Holdings Series B
BATRK
+$3.66M
3
EMBC icon
Embecta
EMBC
+$3.55M
4
ADV icon
Advantage Solutions
ADV
+$2.29M

Top Sells

Rank Stock Value
1
OBDE
Blue Owl Capital Corporation III
OBDE
+$40.3M
2
EQC
Equity Commonwealth
EQC
+$1.93M

Sector Composition

Rank Sector Weight
1 Technology 20.42%
2 Real Estate 8.12%
3 Healthcare 4.29%
4 Communication Services 3.14%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
ONTF
1
DELISTED
ON24
ONTF
$22M 13.23%
4,240,256
– –
EQC
2
DELISTED
Equity Commonwealth
EQC
$13.5M 8.12%
8,403,411
-1,146,589
-12% -$1.93M
BLKB icon
3
Blackbaud
BLKB
$1.5B
$12M 7.19%
+193,000
New +$13.7M
ESPR
4
DELISTED
Esperion Therapeutics
ESPR
$4.32M 2.59%
3,000,000
– –
BATRK icon
5
Atlanta Braves Holdings Series B
BATRK
$3.23B
$3.75M 2.25%
+93,811
New +$3.66M
EMBC icon
6
Embecta
EMBC
$195M
$2.83M 1.7%
+221,938
New +$3.55M
ADV icon
7
Advantage Solutions
ADV
$484M
$1.48M 0.89%
+39,235
New +$2.29M
OBDE
8
DELISTED
Blue Owl Capital Corporation III
OBDE
– –
-2,793,366
Closed -$40.3M

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CI
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MIG
Meketa Investment Group Westwood, Massachusetts $29.6M AUM 2.01% 1-Year Est. Return
SPA
Sherbrooke Park Advisers White Plains, New York $38.7M AUM 5.29% 1-Year Est. Return
SM
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2C
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SIM
Sandia Investment Management Boston, Massachusetts $40.1M AUM 14.58% 1-Year Est. Return
SWM
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Indaba Capital Management's Q1 2025 Portfolio in Review

As of Q1 2025, Indaba Capital Management held 13 positions worth $167M, down 20% from $208M the previous quarter. Its ten largest holdings account for 97% of the portfolio.

Indaba Capital Management withdrew a net $111M in Q1 2025, closing 1 position and reducing 1 holding. Its most notable exit was Blue Owl Capital Corporation III, an estimated $40.3M position sold in full.

By sector, the portfolio is most concentrated in Technology at 20% of assets, up from 13% a quarter earlier, followed by Real Estate and Healthcare.

Against the trend, Indaba Capital Management opened a new position in Blackbaud worth $12M.

  • Indaba Capital Management's largest Q1 2025 buy was Blackbaud: 193,000 shares worth $12M.
  • Indaba Capital Management's biggest Q1 2025 reduction was Equity Commonwealth, cutting an estimated $1.93M.
  • Indaba Capital Management fully exited Blue Owl Capital Corporation III in Q1 2025, selling an estimated $40.3M.
  • Indaba Capital Management's ten largest holdings make up 97% of its $167M portfolio in Q1 2025.
  • Indaba Capital Management opened 4 new positions and closed 1 in Q1 2025.
  • Indaba Capital Management's portfolio value fell 20% quarter-over-quarter to $167M.

Based on Indaba Capital Management's 13F filing for Q1 2025, filed 15 May 2025.