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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
+2.25%
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
$60.7M
AUM Growth
-$74.7M
Cap. Flow
-$98.4M
Cap. Flow %
-162.16%
Top 10 Hldgs %
100%
Holding
10
New
1
Increased
–
Reduced
–
Closed
5

Top Buys

Rank Stock Value
1
ELME
Elme Communities
ELME
+$1.1M

Top Sells

Rank Stock Value
1
BLKB icon
Blackbaud
BLKB
+$12.4M
2
BATRK icon
Atlanta Braves Holdings Series B
BATRK
+$4.39M
3
ESPR
Esperion Therapeutics
ESPR
+$2.95M
4
EMBC icon
Embecta
EMBC
+$2.15M
5
ADV icon
Advantage Solutions
ADV
+$1.29M

Sector Composition

Rank Sector Weight
1 Technology 39.96%
2 Real Estate 1.85%
3 Communication Services 0%
4 Healthcare 0%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
ONTF
1
DELISTED
ON24
ONTF
$24.3M 39.96%
4,240,256
– –
ELME
2
Elme Communities
ELME
$132M
$1.12M 1.85%
+66,502
New +$1.1M
ADV icon
3
Advantage Solutions
ADV
$484M
– –
-39,235
Closed -$1.29M
BATRK icon
4
Atlanta Braves Holdings Series B
BATRK
$3.23B
– –
-93,811
Closed -$4.39M
BLKB icon
5
Blackbaud
BLKB
$1.5B
– –
-193,000
Closed -$12.4M
EMBC icon
6
Embecta
EMBC
$195M
– –
-221,938
Closed -$2.15M
ESPR
7
DELISTED
Esperion Therapeutics
ESPR
– –
-3,000,000
Closed -$2.95M

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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 Q3 2025 Portfolio in Review

As of Q3 2025, Indaba Capital Management held 10 positions worth $60.7M, down 55% from $135M the previous quarter. Its ten largest holdings account for 100% of the portfolio.

Indaba Capital Management withdrew a net $98.4M in Q3 2025, closing 5 positions. Its most notable exit was Blackbaud, an estimated $12.4M position sold in full.

By sector, the portfolio is most concentrated in Technology at 40% of assets, up from 26% a quarter earlier, followed by Real Estate and Communication Services.

Against the trend, Indaba Capital Management opened a new position in Elme Communities worth $1.12M.

  • Indaba Capital Management's largest Q3 2025 buy was Elme Communities: 66,502 shares worth $1.12M.
  • Indaba Capital Management fully exited Blackbaud in Q3 2025, selling an estimated $12.4M.
  • Indaba Capital Management's ten largest holdings make up 100% of its $60.7M portfolio in Q3 2025.
  • Indaba Capital Management opened 1 new position and closed 5 in Q3 2025.
  • Indaba Capital Management's portfolio value fell 55% quarter-over-quarter to $60.7M.

Based on Indaba Capital Management's 13F filing for Q3 2025, filed 14 Nov 2025.