Indaba Capital Management, L.P.

In its 13F for Q1 2024 (holdings as of March 31, 2024, filed May 15, 2024), Indaba Capital Management, L.P. reported 3 stock positions worth $77.0 million. Its top holding was ON24 (ONTF) at 39.3% of the portfolio, followed by Snap One (SNPO, 34.8%) and Standard Biotools (LAB, 25.9%). Compared with Q4 2023, it sold out of 2 and reduced 1. The biggest sale was an exit from Merrimack Pharmaceuticals (MACK).

Most Recent 13F
Q2 2026
Location
SAN FRANCISCO, CA
CIK
0001524362
Portfolio Value
$77.0M (Q1 2024)
SEC Filing
0001011438-24-000361 ↗ filed May 15, 2024

Holdings Value

0$50.0M$100.0M$150.0M Q1 2024: $77.0M $77.0M Q1 2024 Q2 2024: $92.0M Q2 2024 Q3 2024: $119.5M Q3 2024 Q4 2024: $91.2M Q4 2024 Q1 2025: $59.9M Q1 2025 Q2 2025: $46.2M Q2 2025 Q3 2025: $25.4M Q3 2025 Q4 2025: $33.8M Q4 2025 Q1 2026: $0 Q1 2026 Q2 2026: $0 Q2 2026

Holdings 3 stocks · $77.0M
ONTF ON24 Inc. 39.30% 4,240,256 $30.3M No change
SNPO Snap One Holdings Corp. 34.79% 3,109,281 $26.8M No change
LAB Standard Biotools Inc. 25.90% 7,363,064 $20.0M Reduce -1.1%
Other holdings (4): bonds, preferreds, convertibles and warrants · $76.1M (not counted above)
SecurityClassShares / PrincipalValueChange
BANDWIDTH INC (BAND 0.5 04/01/28) NOTE 0.500% 4/0 · principal 52,500,000$37.8MNo change
STANDARD BIOTOOLS INC (LAB 5.25 12/01/24) NOTE 5.250%12/0 · principal 23,190,000$25.7MReduce -42.7%
ACCELERATE DIAGNOSTICS (AXDX 5 12/15/26) NOTE 5.000%12/1 · principal 23,296,489$12.4MNo change
HOLLEY INC *W EXP 11/30/202 669,159$234KNo change

Total filed on the 13F, all lines: $153.2M.

Portfolio Sells Q4 2023 → Q1 2024
MACK Merrimack Pharmaceuticals Inc. Sold out 0.00% −3.66
OBDC Blue Owl Capital Corp. Sold out 0.00% −1.67
LAB Standard Biotools Inc. Reduce -1.1% 25.90% +5.82

Portfolio Buys Q4 2023 → Q1 2024
None this quarter.

Notes & Other Activity Q4 2023 → Q1 2024
STANDARD BIOTOOLS INC (LAB 5.25 12/01/24) NOTE 5.250%12/0 · principal Reduce -42.7% 23,190,000 $25.7M

Bonds, preferreds, convertibles and warrants; not part of the stock holdings or percentages above.

All Filings

QuarterPositions13F Reported ValueTop Holdings
Q2 2026 0$0
Q1 2026 0$0
Q4 2025 1$33.8MONTF
Q3 2025 2$25.4MONTF, ELME
Q2 2025 6$46.2MONTF, BLKB, BATRK, ESPR, EMBC
Q1 2025 7$59.9MONTF, EQC, BLKB, ESPR, BATRK
Q4 2024 4$91.2MOBDE, ONTF, EQC, ESPR
Q3 2024 2$119.5MEQC, ONTF
Q2 2024 3$92.0MEQC, ONTF, BL
Q1 2024 3$77.0MONTF, SNPO, LAB