# Zebra Capital Management LLC

> Institutional holdings reported to the SEC as of Q1 2023 on Form 13F. CIK 1316915. Source: https://holderbook.com/funds/1316915-zebra-capital-management-llc/

- Reported value: $20.0M
- Positions: 65
- Weight of the ten largest: 30.9%
- Filed: 2023-05-15

A 13F reports long US equity positions only. Short positions, bonds, foreign listings, private holdings and cash are not visible, so this is not the manager's whole book.

## Holdings

| Security | Ticker | Value | Shares | Weight | Quarters held |
|---|---|---|---|---|---|
| CVR ENERGY INC | [CVI](https://holderbook.com/stocks/CVI/) | $696.0K | 21,227 | 3.5% | 1 |
| PC CONNECTION INC | [CNXN](https://holderbook.com/stocks/CNXN/) | $658.0K | 14,625 | 3.3% | 3 |
| AMKOR TECHNOLOGY INC | [AMKR](https://holderbook.com/stocks/AMKR/) | $636.0K | 24,453 | 3.2% | 7 |
| VIR BIOTECHNOLOGY INC | [VIR](https://holderbook.com/stocks/VIR/) | $631.0K | 27,110 | 3.2% | 5 |
| UFP INDUSTRIES INC | [UFPI](https://holderbook.com/stocks/UFPI/) | $628.0K | 7,900 | 3.1% | 7 |
| PATTERSON COS INC | [PDCO](https://holderbook.com/stocks/PDCO/) | $626.0K | 23,387 | 3.1% | 3 |
| THE ODP CORP | [ODP](https://holderbook.com/stocks/ODP/) | $592.0K | 13,172 | 3.0% | 3 |
| RUSH ENTERPRISES INC | [RUSHA](https://holderbook.com/stocks/RUSHA/) | $580.0K | 10,618 | 2.9% | 18 |
| PATRICK INDS INC | [PATK](https://holderbook.com/stocks/PATK/) | $570.0K | 8,280 | 2.8% | 1 |
| ENACT HLDGS INC | [ACT](https://holderbook.com/stocks/ACT/) | $564.0K | 24,668 | 2.8% | 3 |
| OTTER TAIL CORP | [OTTR](https://holderbook.com/stocks/OTTR/) | $560.0K | 7,746 | 2.8% | 9 |
| DIODES INC | [DIOD](https://holderbook.com/stocks/DIOD/) | $528.0K | 5,695 | 2.6% | 3 |
| ALKERMES PLC | [ALKS](https://holderbook.com/stocks/ALKS/) | $512.0K | 18,178 | 2.6% | 7 |
| INNOVAGE HLDG CORP | [INNV](https://holderbook.com/stocks/INNV/) | $510.0K | 63,904 | 2.5% | 5 |
| ADVANCED ENERGY INDS | [AEIS](https://holderbook.com/stocks/AEIS/) | $495.0K | 5,049 | 2.5% | 1 |
| NEWMARK GROUP INC | [NMRK](https://holderbook.com/stocks/NMRK/) | $471.0K | 66,582 | 2.4% | 1 |
| GMS INC | [GMS](https://holderbook.com/stocks/GMS/) | $445.0K | 7,683 | 2.2% | 1 |
| KELLY SVCS INC | [KELYA](https://holderbook.com/stocks/KELYA/) | $414.0K | 24,960 | 2.1% | 9 |
| HUB GROUP INC | [HUBG](https://holderbook.com/stocks/HUBG/) | $409.0K | 4,875 | 2.0% | 3 |
| RYERSON HLDG CORP | [RYZ](https://holderbook.com/stocks/RYZ/) | $374.0K | 10,293 | 1.9% | 1 |
| CHORD ENERGY CORPORATION | [CHRD](https://holderbook.com/stocks/CHRD/) | $368.0K | 2,736 | 1.8% | 5 |
| CIVITAS RESOURCES INC | [CIVI](https://holderbook.com/stocks/CIVI/) | $360.0K | 5,270 | 1.8% | 3 |
| CORVEL CORP | [CRVL](https://holderbook.com/stocks/CRVL/) | $330.0K | 1,733 | 1.6% | 9 |
| COCA COLA CONS INC | [COKE](https://holderbook.com/stocks/COKE/) | $321.0K | 600 | 1.6% | 9 |
| NATIONAL WESTN LIFE GROUP IN | [NWLI](https://holderbook.com/stocks/NWLI/) | $320.0K | 1,318 | 1.6% | 9 |
| PTC THERAPEUTICS INC | [PTCT](https://holderbook.com/stocks/PTCT/) | $320.0K | 6,600 | 1.6% | 1 |
| INGLES MKTS INC | [IMKTA](https://holderbook.com/stocks/IMKTA/) | $295.0K | 3,321 | 1.5% | 1 |
| CSG SYS INTL INC | [CSGS](https://holderbook.com/stocks/CSGS/) | $293.0K | 5,461 | 1.5% | 1 |
| SCANSOURCE INC | [SCSC](https://holderbook.com/stocks/SCSC/) | $293.0K | 9,611 | 1.5% | 5 |
| CRESCENT ENERGY COMPANY | [CRGY](https://holderbook.com/stocks/CRGY/) | $291.0K | 25,752 | 1.5% | 1 |
| MGE ENERGY INC | [MGEE](https://holderbook.com/stocks/MGEE/) | $282.0K | 3,626 | 1.4% | 9 |
| POTLATCHDELTIC CORPORATION | [PCH](https://holderbook.com/stocks/PCH/) | $280.0K | 5,658 | 1.4% | 11 |
| CAVCO INDS INC DEL | [CVCO](https://holderbook.com/stocks/CVCO/) | $279.0K | 878 | 1.4% | 1 |
| MARCUS & MILLICHAP INC | [MMI](https://holderbook.com/stocks/MMI/) | $273.0K | 8,499 | 1.4% | 18 |
| ATLANTICUS HOLDINGS CORP | [ATLC](https://holderbook.com/stocks/ATLC/) | $267.0K | 9,831 | 1.3% | 3 |
| ACUSHNET HLDGS CORP | [GOLF](https://holderbook.com/stocks/GOLF/) | $258.0K | 5,068 | 1.3% | 1 |
| HALOZYME THERAPEUTICS INC | [HALO](https://holderbook.com/stocks/HALO/) | $256.0K | 6,695 | 1.3% | 9 |
| MERCHANTS BANCORP IND | [MBIN](https://holderbook.com/stocks/MBIN/) | $255.0K | 9,789 | 1.3% | 11 |
| SCRIPPS E W CO OHIO | [SSP](https://holderbook.com/stocks/SSP/) | $250.0K | 26,596 | 1.2% | 3 |
| WEIS MKTS INC | [WMK](https://holderbook.com/stocks/WMK/) | $244.0K | 2,878 | 1.2% | 18 |
| ONEWATER MARINE INC | [ONEW](https://holderbook.com/stocks/ONEW/) | $223.0K | 7,987 | 1.1% | 1 |
| ALARM COM HLDGS INC | [ALRM](https://holderbook.com/stocks/ALRM/) | $219.0K | 4,363 | 1.1% | 1 |
| ACADIA PHARMACEUTICALS INC | [ACAD](https://holderbook.com/stocks/ACAD/) | $218.0K | 11,599 | 1.1% | 3 |
| COMMVAULT SYS INC | [CVLT](https://holderbook.com/stocks/CVLT/) | $207.0K | 3,647 | 1.0% | 2 |
| ORTHOFIX MED INC | [OFIX](https://holderbook.com/stocks/OFIX/) | $200.0K | 11,923 | 1.0% | 1 |
| RIBBON COMMUNICATIONS INC | [RBBN](https://holderbook.com/stocks/RBBN/) | $196.0K | 57,277 | 1.0% | 1 |
| PACTIV EVERGREEN INC | [PTVE](https://holderbook.com/stocks/PTVE/) | $188.0K | 23,551 | 0.9% | 1 |
| DELUXE CORP MEDIUM TERM NTS | [DLX](https://holderbook.com/stocks/DLX/) | $177.0K | 11,052 | 0.9% | 1 |
| DASEKE INC | [DSKE](https://holderbook.com/stocks/DSKE/) | $152.0K | 19,652 | 0.8% | 1 |
| RPC INC | [RES](https://holderbook.com/stocks/RES/) | $152.0K | 19,776 | 0.8% | 8 |
| AMICUS THERAPEUTICS INC | [FOLD](https://holderbook.com/stocks/FOLD/) | $137.0K | 12,352 | 0.7% | 1 |
| HORIZON BANCORP IND | [HBNC](https://holderbook.com/stocks/HBNC/) | $127.0K | 11,456 | 0.6% | 1 |
| KRONOS WORLDWIDE INC | [KRO](https://holderbook.com/stocks/KRO/) | $120.0K | 13,000 | 0.6% | 3 |
| RADIANT LOGISTICS INC | [RLGT](https://holderbook.com/stocks/RLGT/) | $115.0K | 17,567 | 0.6% | 11 |
| ACCEL ENTERTAINMENT INC | [ACEL](https://holderbook.com/stocks/ACEL/) | $106.0K | 11,645 | 0.5% | 2 |
| INTERFACE INC | [TILE](https://holderbook.com/stocks/TILE/) | $104.0K | 12,770 | 0.5% | 1 |
| RIMINI STR INC DEL | [RMNI](https://holderbook.com/stocks/RMNI/) | $101.0K | 24,580 | 0.5% | 3 |
| BERRY CORP | [BRY](https://holderbook.com/stocks/BRY/) | $85.0K | 10,891 | 0.4% | 1 |
| LIFETIME BRANDS INC | [LCUT](https://holderbook.com/stocks/LCUT/) | $82.0K | 13,959 | 0.4% | 2 |
| INFORMATION SVCS GROUP INC | [III](https://holderbook.com/stocks/III/) | $73.0K | 14,269 | 0.4% | 3 |
| DULUTH HLDGS INC | [DLTH](https://holderbook.com/stocks/DLTH/) | $65.0K | 10,161 | 0.3% | 1 |
| CUMULUS MEDIA INC | [CMLSQ](https://holderbook.com/stocks/CMLSQ/) | $62.0K | 16,742 | 0.3% | 1 |
| DESTINATION XL GROUP INC | [DXLG](https://holderbook.com/stocks/DXLG/) | $60.0K | 10,801 | 0.3% | 2 |
| HOME PT CAPITAL INCORPORATED | [HMPT](https://holderbook.com/stocks/HMPT/) | $55.0K | 28,476 | 0.3% | 5 |
| TEADS HLDG CO | [TEAD](https://holderbook.com/stocks/TEAD/) | $54.0K | 13,099 | 0.3% | 3 |

## What the disclosed book did

Not the fund's return. This is the change in value of the positions disclosed on Form 13F, had they been left untouched, against SPY over the same quarter ends.

| Quarter | Book | Market | Difference | Priced |
|---|---|---|---|---|
| Q1 2023 | +4.3% | +7.0% | -2.8% | 100% |
| Q4 2022 | +12.2% | +7.1% | +5.2% | 100% |
| Q3 2022 | -9.8% | -5.3% | -4.5% | 100% |
| Q2 2022 | -13.8% | -16.5% | +2.7% | 100% |
| Q1 2022 | -5.9% | -4.9% | -1.0% | 100% |
| Q4 2021 | +6.4% | +10.7% | -4.3% | 100% |
| Q3 2021 | -1.8% | +0.3% | -2.1% | 100% |
| Q2 2021 | +3.9% | +8.0% | -4.1% | 100% |

## Quarter by quarter

| Quarter | Value | Positions |
|---|---|---|
| Q1 2023 | $20.0M | 65 |
| Q4 2022 | $28.6M | 67 |
| Q3 2022 | $26.3M | 81 |
| Q2 2022 | $34.0M | 98 |
| Q1 2022 | $43.5M | 116 |
| Q4 2021 | $62.5M | 155 |
| Q3 2021 | $82.5M | 182 |
| Q2 2021 | $85.3M | 160 |
| Q1 2021 | $90.8M | 169 |
| Q4 2020 | $78.8M | 163 |
| Q3 2020 | $64.7M | 167 |
| Q2 2020 | $69.3M | 217 |