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Indaba Capital Management, L.P.

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13F filer, CIK 1524362, SAN FRANCISCO, CA

Indaba Capital Management, L.P. reported $135,387,251 across 10 holdings for the quarter ended 2025-06-30, in a 13F-HR filed 2025-08-14.

Filed (acceptance time not in the bulk data set), ingested 13F-HR 0001011438-25-000452

Period
2025-06-30
Reported value
$135M
Holdings
10
Top 10 weight
100%
New
0
Sold out
2

Largest buys vs the previous quarter

None.

Largest sells vs the previous quarter

SecurityShares changeApprox. value
EQCexited-8,403,411-$13.5M

Ranked by the share change valued at this quarter's implied price (value over shares in the 13F). A position sold out is valued at the previous quarter's price, its last report.

Holdings, Q2 2025

Share positions as resolved from 13F-HR 0001011438-25-000452, largest first. % of portfolio is the value over $135,387,251, the sum of the share positions whose value is usable for ratios (method).

SecurityHistorySharesValue% of portfolioChangeLatest eventTimeline
ONTFON24 INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 4,240,256 shares; 2024Q4: 4,240,256 shares; 2025Q1: 4,240,256 shares; 2025Q2: 4,240,256 shares 4,240,256$23M17.01%0Timeline
BLKBBLACKBAUD INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 193,000 shares; 2025Q2: 193,000 shares 193,000$12.4M9.15%0Timeline
BATRKATLANTA BRAVES HLDGS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 93,811 shares; 2025Q2: 93,811 shares 93,811$4.39M3.24%0Timeline
ESPRESPERION THERAPEUTICS INC NEQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 3,000,000 shares; 2025Q1: 3,000,000 shares; 2025Q2: 3,000,000 shares 3,000,000$2.95M2.18%0Timeline
EMBCEMBECTA CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 221,938 shares; 2025Q2: 221,938 shares 221,938$2.15M1.59%0Timeline
ADVADVANTAGE SOLUTIONS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 980,865 shares; 2025Q2: 980,865 shares 980,865$1.29M0.96%0Timeline

Principal amounts

Notes and convertibles filed as a face amount (PRN). A face amount is never added to a share count (H6).

SecurityTypeAmountValueChange
BANDWIDTH INCBANDWIDTH INC NOTE 0.500% 4/0principal40,250,000$33.8M0
SUMMIT HOTEL PPTYSSUMMIT HOTEL PPTYS NOTE 1.500% 2/1principal29,039,000$28.1M0
IRONWOOD PHARMACEUTICALS INCIRONWOOD PHARMACEUTICALS INC NOTE 1.500% 6/1principal17,000,000$14.4M0
TRAVERE THERAPEUTICS INCTRAVERE THERAPEUTICS INC NOTE 2.500% 9/1principal13,000,000$12.8M0

Sold out in Q2 2025

Positions in the previous quarter's report that this quarter's report no longer lists.

SecurityShares beforeValue beforeType
ACCELERATE DIAGNOSTICS INCACCELERATE DIAGNOSTICS INC37,049,299$18.5Mprincipal
EQCEQUITY COMMONWEALTH8,403,411$13.5Mshares

How Q2 2025 was built

Available 13F filings of this filer for the quarter and their roles: the base report is the latest original or restatement, NEW HOLDINGS amendments filed after it are added (method).

FilingRoleAmendmentFiledAcceptedIngested
13F-HR 0001011438-25-000452 base2025-08-14acceptance time not in the bulk data set