Zebra Capital Management LLC

Exempt adviser

CIK

1316915

Location

Stamford, CT

Portfolio Value

Micro $15,838,973

Diversification

Diversified

Filing Date

Global Rank

#6,892 / 7,012 ▲ 47 · as of Mar 2023

Top Industry

Biotechnology 9.0%

Period ended 3 years ago

Filed May 15, 2023 · 3y

13 quarters · since Mar 2020

Regulatory profile

From Form ADV, the SEC filer profile, 13D/13G type codes and N-CEN, never from the name.

Holder type

Exempt adviser

Form ADV roster, Nov 1, 2026

Form ADV adviser

CRD 126285

Roster of Nov 1, 2026

Private funds

0 funds

$0 gross assets

LEI

549300HPKQ1MJS1B1Z11

Private funds on Schedule D 7.B.(1)

As filed Mar 28, 2024; SEC's bulk Form ADV archive ends with 2024 filings.

No private funds listed.

Form ADV history

Monthly rosters from Dec 2019; each row is a run with the same figures, newest first.

Rosters	Regulatory AUM	Main clients
Sep 2024 to Nov 2026	—	—
Apr 2024 to Jun 2024	$3,152,464	Other (100%)
May 2023 to Mar 2024	$38,119,356	Registered funds and BDCs (95%)
Apr 2023	$38,119,356	Registered funds and BDCs (95%)
Apr 2022 to Mar 2023	$83,883,681	Registered funds and BDCs (75%)
Apr 2021 to Mar 2022	$90,897,359	Registered funds and BDCs (88%)

2 earlier changes not shown.

Portfolio style

Measured from the filed 13F common-share book for Mar 31, 2023, never from the firm's own description.

Style

Diversified active

Top 10 weight 37.8%, 38.2 effective positions, active share 96.5% against the Russell 2000 as of 2023-03-31; it meets none of the index-like, systematic-like or concentrated tests

Turnover

Medium turnover

95.5% over the last four quarters (30% to under 100%)

Horizon

Horizon unknown

The value-weighted holding period is at least 4.4 quarters, but 3.3% of the book was already held when coverage starts

Closest benchmark: the Russell 2000 as of 2023-03-31, active share 96.5%; sector active share 22.3% against the combined 13F book's sector weights.

Over time 13 measured quarters

How the bands are measured

Style bands measure the filed 13F common-share book each closed quarter, tested in this order. Unknown: under $10,000,000 of valued equity or 5 stocks. Index-like (100+ stocks): active share of 20% or less against the closest benchmark, which is the S&P 500, S&P MidCap 400, S&P SmallCap 600, Russell 1000, Russell 2000, Nasdaq-100 or Dow Jones Industrial Average (weighted by an index-tracking fund's reported holdings or the index's constituents nearest the quarter end, over the names resolved to companies, and only when those are 90%+ of its weight) or every 13F filer's combined book, or index series holding 80%+ of the registered fund assets it advises (N-CEN) and equal to 50%+ of its book. Systematic-like: 500+ stocks, 100%+ annual turnover and a top 10 weight of 25% or less. Concentrated: a top 10 weight of 60%+ or 12 or fewer effective positions. Diversified active: none of these. Turnover is the smaller of buys and sells over average equity value, summed over four quarters: low under 30%, high 100%+. Horizon is the value-weighted number of quarters each position has been held: short under 4, long 12+.

Clone Performance

Build a hypothetical price-return history from this filer's public 13F holdings.

View clone backtest

Portfolio Concentration

65 tracked positions · as of Mar 31, 2023 · Δ vs Dec 31, 2022

Top Position

4.4%

−16.2 pts

Top 5

20.5%

−16.6 pts

Top 10

37.8%

−13.7 pts

HHI

262

Diversified−347

Portfolio Trend

13 quarters · across all stocks

Sector Breakdown

As of Mar 31, 2023

Sector	% Portfolio	Value	Positions
Technology	18.4%	$2,911,012	10
Healthcare	16.7%	$2,646,765	8
Industrials	16.1%	$2,544,428	7
Consumer Cyclical	11.0%	$1,747,055	10
Financial Services	9.7%	$1,541,988	5
Energy	9.5%	$1,507,418	4
Consumer Defensive	5.4%	$859,300	3
Basic Materials	4.7%	$747,543	2
Real Estate	4.7%	$744,302	2
Communication Services	1.9%	$304,428	3
Utilities	1.8%	$281,631	1
Unclassified	0.0%	$3,103	10

Last Quarter's Activity

Export CSV

Mar 31, 2023 vs Dec 31, 2022

Added To

Positions the filer increased

14 positions

Ticker	Company	Δ Shares	Shares	Value
SSP	E.W. SCRIPPS Co	+13,542	26,596	$250,268
RMNI	Rimini Street, Inc.	+7,029	24,580	$101,269
RLGT	Radiant Logistics, Inc	+5,455	17,567	$115,239
KELYA	Kelly Services Inc	+4,439	24,960	$414,086
LCUT	Lifetime Brands, Inc	+2,675	13,959	$82,078
RUSHA	Rush Enterprises Inc \Tx\	+1,742	10,618	$580
ACEL	Accel Entertainment, Inc.	+1,442	11,645	$106,085
CNXN	Pc Connection Inc	+932	14,625	$657,540
III	Information Services Group Inc.	+738	14,269	$72,629
HALO	Halozyme Therapeutics, Inc.	+653	6,695	$255,682
CVLT	Commvault Systems Inc	+322	3,647	$206,930
HUBG	Hub Group, Inc.	+295	4,875	$409,207
CHRD	Chord Energy Corp	+173	2,736	$368,265
ACT	Enact Holdings, Inc.	+26	24,668	$563,910
No positions match the current search.

Trimmed

Positions the filer reduced

25 positions

Ticker	Company	Δ Shares	Shares	Value
AMKR	Amkor Technology, Inc.	−16,240	24,453	$636,267
INNV	InnovAge Holding Corp.	−14,720	63,904	$509,953
SCSC	Scansource, Inc.	−12,718	9,611	$292,558
TEAD	Teads Holding Co.	−12,414	13,099	$54,098
VIR	Vir Biotechnology, Inc.	−10,339	27,110	$630,849
—		−6,696	28,476	$55
—		−6,484	13,172	$592
—		−5,771	23,387	$626
MBIN	Merchants Bancorp	−4,594	9,789	$254,905
MMI	Marcus & Millichap, Inc.	−4,024	8,499	$272,902
RES	Rpc Inc	−3,459	19,776	$152,077
—		−3,163	5,658	$280
ACAD	Acadia Pharmaceuticals Inc	−3,019	11,599	$218,293
OTTR	Otter Tail Corp	−2,978	7,746	$559,803
DXLG	Destination XL Group, Inc.	−2,512	10,801	$59,513
ALKS	Alkermes plc.	−2,490	18,178	$512,437
WMK	Weis Markets Inc	−2,038	2,878	$243,680
—		−1,147	5,270	$360
UFPI	Ufp Industries Inc	−1,105	7,900	$627,813
MGEE	Mge Energy Inc	−771	3,626	$281,631
—		−655	1,318	$320
COKE	Coca-Cola Consolidated, Inc.	−551	600	$321,048
ATLC	Atlanticus Holdings Corp	−530	9,831	$266,715
CRVL	Corvel Corp	−484	1,733	$329,755
DIOD	Diodes Inc	−313	5,695	$528,268
No positions match the current search.

New Positions

Positions the filer opened this quarter

25 positions

Ticker	Company	Shares	Value
CVI	Cvr Energy Inc	21,227	$695,821
PATK	Patrick Industries Inc	8,280	$569,746
AEIS	Advanced Energy Industries Inc	5,049	$494,802
NMRK	Newmark Group, Inc.	66,582	$471,400
RYZ	Ryerson Holding Corp	10,293	$374,459
PTCT	Ptc Therapeutics, Inc.	6,600	$319,704
IMKTA	Ingles Markets Inc	3,321	$294,572
CRGY	Crescent Energy Co	25,752	$291,255
CVCO	Cavco Industries, Inc.	878	$278,975
GOLF	Acushnet Holdings Corp.	5,068	$258,163
ONEW	OneWater Marine Inc.	7,987	$223,396
ALRM	Alarm.com Holdings, Inc.	4,363	$219,371
OFIX	Orthofix Medical Inc.	11,923	$199,710
RBBN	Ribbon Communications Inc.	57,277	$195,887
DLX	Deluxe Corp	11,052	$176,832
HBNC	Horizon Bancorp Inc	11,456	$126,703
TILE	Interface Inc	12,770	$103,692
DLTH	Duluth Holdings Inc.	10,161	$64,827
—		7,683	$445
—		5,461	$293
—		23,551	$188
—		19,652	$152
—		12,352	$137
—		10,891	$85
CMLS	Cumulus Media Inc	16,742	$62
No positions match the current search.

Sold Out

Positions the filer fully exited

25 positions

Ticker	Company	Shares	Value
VB	Vanguard Index Funds	12,130	$2,226,340
VTI	VANGUARD TOTAL STOCK MARKET INDEX FUND	11,620	$2,221,627
WFRD	Weatherford International plc	18,434	$938,659
GEF-B	Greif, Inc	7,336	$573,895
PLUS	Eplus Inc	8,978	$397,545
MTDR	Matador Resources Co	6,706	$383,851
AIT	Applied Industrial Technologies Inc	2,544	$320,620
RMR	Rmr Group Inc.	10,125	$286,031
MLI	Mueller Industries Inc	4,665	$275,235
AD	Array Digital Infrastructure, Inc.	12,326	$256,997
OSIS	Osi Systems Inc	3,137	$249,454
HRMY	Harmony Biosciences Holdings, Inc.	4,414	$243,211
MGY	Magnolia Oil & Gas Corp	9,904	$232,248
SRCE	1St Source Corp	4,213	$223,668
SHOO	Steven Madden, Ltd.	6,642	$212,278
BWB	Bridgewater Bancshares Inc	11,663	$206,901
AXGN	Axogen, Inc.	10,612	$105,907
—		9,701	$512
RUSHB	Rush Enterprises Inc \Tx\	7,266	$409
—		17,905	$336
—		8,942	$300
—		13,946	$272
—		11,298	$212
ZYXIQ	ZYNEX INC	11,309	$157
UONEK	Urban One, Inc.	10,437	$39
No positions match the current search.

Portfolio Positions

Compact Export CSV View 13F filing

65 tracked positions · $15,838,973 total · filing declares 65 positions · $20,012 · as of Mar 31, 2023

All sectors Basic Materials Communication Services Consumer Cyclical Consumer Defensive Energy Financial Services Healthcare Industrials Real Estate Technology Utilities

Showing 1–50 of 65 positions by value · page 1 of 2

Ticker	Company	Type	Shares	Δ Shares	Value (USD)	% Δ Value	Held (qtrs)	Est. cost/share	% of Portfolio
CVI	Cvr Energy Inc Energy	NEW	21,227	NEW	$695,821	NEW	1	$32.05	4.39%
CNXN	Pc Connection Inc Technology	Added	14,625	+932	$657,540	+2.4%	3	$47.09	4.15%
AMKR	Amkor Technology, Inc. Technology	Reduced	24,453	-16,240	$636,267	−34.8%	7	$25.07	4.02%
VIR	Vir Biotechnology, Inc. Healthcare	Reduced	27,110	-10,339	$630,849	−33.4%	5	$27.61	3.98%
UFPI	Ufp Industries Inc Basic Materials	Reduced	7,900	-1,105	$627,813	−12.0%	7	$72.64	3.96%
PATK	Patrick Industries Inc Consumer Cyclical	NEW	8,280	NEW	$569,746	NEW	1	$69.55	3.60%
ACT	Enact Holdings, Inc. Financial Services	Added	24,668	+26	$563,910	−5.1%	3	$23.98	3.56%
OTTR	Otter Tail Corp Industrials	Reduced	7,746	-2,978	$559,803	−11.1%	9	$43.30	3.53%
DIOD	Diodes Inc Technology	Reduced	5,695	-313	$528,268	+15.5%	3	$72.28	3.34%
ALKS	Alkermes plc. Healthcare	Reduced	18,178	-2,490	$512,437	−5.1%	7	$28.31	3.24%
INNV	InnovAge Holding Corp. Healthcare	Reduced	63,904	-14,720	$509,953	−9.7%	5	$5.06	3.22%
AEIS	Advanced Energy Industries Inc Industrials	NEW	5,049	NEW	$494,802	NEW	1	$94.19	3.12%
NMRK	Newmark Group, Inc. Real Estate	NEW	66,582	NEW	$471,400	NEW	1	$8.01	2.98%
KELYA	Kelly Services Inc Industrials	Added	24,960	+4,439	$414,086	+19.4%	9	$20.50	2.61%
HUBG	Hub Group, Inc. Industrials	Added	4,875	+295	$409,207	+12.4%	3	$77.05	2.58%
RYZ	Ryerson Holding Corp Industrials	NEW	10,293	NEW	$374,459	NEW	1	$36.28	2.36%
CHRD	Chord Energy Corp Energy	Added	2,736	+173	$368,265	+5.0%	5	$134.76	2.33%
CRVL	Corvel Corp Financial Services	Reduced	1,733	-484	$329,755	+2.3%	9	$113.69	2.08%
COKE	Coca-Cola Consolidated, Inc. Consumer Defensive	Reduced	600	-551	$321,048	−45.6%	9	$335.54	2.03%
PTCT	Ptc Therapeutics, Inc. Healthcare	NEW	6,600	NEW	$319,704	NEW	1	$45.71	2.02%
IMKTA	Ingles Markets Inc Consumer Defensive	NEW	3,321	NEW	$294,572	NEW	1	$92.78	1.86%
SCSC	Scansource, Inc. Technology	Reduced	9,611	-12,718	$292,558	−55.2%	5	$33.31	1.85%
CRGY	Crescent Energy Co Energy	NEW	25,752	NEW	$291,255	NEW	1	$11.58	1.84%
MGEE	Mge Energy Inc Utilities	Reduced	3,626	-771	$281,631	−9.0%	9	$67.54	1.78%
CVCO	Cavco Industries, Inc. Consumer Cyclical	NEW	878	NEW	$278,975	NEW	1	$276.71	1.76%
MMI	Marcus & Millichap, Inc. Real Estate	Reduced	8,499	-4,024	$272,902	−36.7%	13+	before history	1.72%
ATLC	Atlanticus Holdings Corp Financial Services	Reduced	9,831	-530	$266,715	−1.7%	3	$34.36	1.68%
GOLF	Acushnet Holdings Corp. Consumer Cyclical	NEW	5,068	NEW	$258,163	NEW	1	$48.51	1.63%
HALO	Halozyme Therapeutics, Inc. Healthcare	Added	6,695	+653	$255,682	−25.6%	9	$46.26	1.61%
MBIN	Merchants Bancorp Financial Services	Reduced	9,789	-4,594	$254,905	−27.1%	11	$15.92	1.61%
SSP	E.W. SCRIPPS Co Communication Services	Added	26,596	+13,542	$250,268	+45.4%	3	$13.36	1.58%
WMK	Weis Markets Inc Consumer Defensive	Reduced	2,878	-2,038	$243,680	−39.8%	13+	before history	1.54%
ONEW	OneWater Marine Inc. Consumer Cyclical	NEW	7,987	NEW	$223,396	NEW	1	$28.52	1.41%
ALRM	Alarm.com Holdings, Inc. Technology	NEW	4,363	NEW	$219,371	NEW	1	$51.48	1.39%
ACAD	Acadia Pharmaceuticals Inc Healthcare	Reduced	11,599	-3,019	$218,293	−6.2%	3	$16.15	1.38%
CVLT	Commvault Systems Inc Technology	Added	3,647	+322	$206,930	−1.0%	2	$61.81	1.31%
OFIX	Orthofix Medical Inc. Healthcare	NEW	11,923	NEW	$199,710	NEW	1	$19.57	1.26%
RBBN	Ribbon Communications Inc. Technology	NEW	57,277	NEW	$195,887	NEW	1	$3.65	1.24%
DLX	Deluxe Corp Industrials	NEW	11,052	NEW	$176,832	NEW	1	$18.23	1.12%
RES	Rpc Inc Energy	Reduced	19,776	-3,459	$152,077	−26.4%	8	$5.70	0.96%
HBNC	Horizon Bancorp Inc Financial Services	NEW	11,456	NEW	$126,703	NEW	1	$14.37	0.80%
KRO	Kronos Worldwide Inc Basic Materials	Reduced	13,000	-9	$119,730	−2.1%	3	$14.65	0.76%
RLGT	Radiant Logistics, Inc Industrials	Added	17,567	+5,455	$115,239	+86.9%	11	$5.13	0.73%
ACEL	Accel Entertainment, Inc. Consumer Cyclical	Added	11,645	+1,442	$106,085	+35.0%	2	$8.64	0.67%
TILE	Interface Inc Consumer Cyclical	NEW	12,770	NEW	$103,692	NEW	1	$9.84	0.65%
RMNI	Rimini Street, Inc. Technology	Added	24,580	+7,029	$101,269	+51.4%	3	$5.30	0.64%
LCUT	Lifetime Brands, Inc Consumer Cyclical	Added	13,959	+2,675	$82,078	−4.2%	2	$7.60	0.52%
III	Information Services Group Inc. Technology	Added	14,269	+738	$72,629	+16.7%	3	$6.15	0.46%
DLTH	Duluth Holdings Inc. Consumer Cyclical	NEW	10,161	NEW	$64,827	NEW	1	$6.37	0.41%
DXLG	Destination XL Group, Inc. Consumer Cyclical	Reduced	10,801	-2,512	$59,513	−33.8%	2	$6.41	0.38%

Showing the top 50 of 65 positions. Create a free account to see every position, past quarters, search, filters and CSV export.

Covers the securities this platform tracks: U.S.-listed common stock and the put/call positions reported on it. A 13F can also report security types outside that coverage — preferred shares, bonds, warrants, untracked share classes — so the filing's own declared total can exceed the figures above. The source filing is linked at the top of this table.