Zebra Capital Management, LLC (“Zebra Capital Management”) was organized as a limited liability company under the laws of the State of Connecticut, is based in Stamford, Connecticut, and is registered with the U.S. Securities and Exchange Commission as an investment adviser.  Registration with the U.S. Securities and Exchange Commission does not imply any level of skill or training.

Zebra Capital Management currently provides and/or may provide in the future investment advisory and sub-advisory services to retail and institutional clients for public and private accounts, including separate accounts, private investment funds (e.g., hedge funds, private equity funds and venture capital funds, sponsored and/or managed by Zebra Capital) and registered investment companies (e.g., mutual funds). Neither Zebra Capital nor any of its affiliates is acting as your adviser or agent with regard to your decision to invest in any product managed by Zebra Capital Management.

Zebra Global Equity Fund, LP and Zebra Global Equity Fund, Ltd. are collectively referred to as the “Zebra Funds”.  The Zebra U.S. Small Cap Equity and Zebra U.S. Micro Cap Equity are collectively referred to as the “Zebra Separate Accounts”.

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Past performance is no guarantee of future results. No representation is made that any investor will or is likely to achieve results similar to those shown on this website.  Performance results for individual investors and funds will vary due to timing of investments, additions / withdrawals and time and size of investment, among other reasons.  All investments involve risk, including the risk of loss of principal.  As with any investment strategy, there is potential for profit as well as the possibility of loss.

It should not be assumed that any of the securities transactions or holdings referred to on this website were or will prove to be profitable, or that the investment recommendations or decisions Zebra Capital Management makes in the future will be profitable or will equal the investment performance of the securities referred to on this website. In addition, there can be no assurance that any trends described on this website will continue or that forecasts will occur because, among other things, economic and market conditions change frequently. There is no guarantee that the models used provide the same results as other available models.

An investment based upon Zebra Capital Management’s strategies involves a substantial degree of risk and investors may lose all or substantially all of their capital. There is no guarantee that the investment objectives, investment performance expectations, risk and/or return targets discussed on this website will be achieved.  Accordingly, any statement(s) made regarding such objectives, expectations and/or targets shall not constitute a representation or warranty that such investment objectives, expectations and/or targets will be achieved.

Zebra Capital Management may trade with a high degree of leverage. Performance may be volatile. There are limited or no secondary markets for interests in hedge funds and none is expected to develop.  Interests in hedge funds are not freely transferable and are subject to restrictive redemption provisions.  The Zebra Funds and Zebra Separate Accounts are subject to substantial fees and expenses.  Zebra Capital Management and other service providers may have conflicts of interest in managing the Zebra Funds and Zebra Separate Accounts.  The Zebra Funds and Zebra Separate Accounts are not intended to be a complete investment program.  Hedge fund investments are suitable only for financially sophisticated investors independently capable of evaluating the risks, as well as sustaining a total loss, of their investment.

This website is not intended as and does not constitute an offer to sell, or a solicitation of any offer to buy, any product, including the Zebra Funds and/or the Zebra Separate Accounts, under any circumstances whatsoever.  If any such offer is made in the future, it will be made in accordance with applicable federal and state securities laws and will be described in appropriate written documents containing specific terms, conditions and limitations and prepared in accordance with applicable securities laws.  In addition, no offer of any interest in any product will be made in any jurisdiction in which the offer, solicitation or sale is not permitted, or to any person to whom it is unlawful to make such offer, solicitation or sale.

Offers of interests in any fund to which Zebra Capital acts as an investment advisor or sub-advisor can only be made by means of such fund’s Prospectus, Statement of Additional Information, Confidential Offering Memorandum, Private Placement Memorandum or similar offering document (the “Offering Materials”).  All information contained herein is qualified in its entirety by such Offering Materials.  Prospective investors should carefully review such Offering Materials prior to making any investment decision about any such fund.

The securities, if any, mentioned throughout this website are shown for illustrative purposes only and should not be interpreted as recommendations to buy or sell any particular security.  In addition, there is no assurance that any security mentioned herein will remain in an account’s portfolio at the time you read this information or that any such security, if sold, has not been repurchased.  The securities mentioned herein do not represent an account’s entire portfolio over the course of a full market cycle.

Simulated and/or Hypothetical Performance Results:

Simulated performance results, if any, presented on this website were prepared using computer models and were derived by backtesting, not from actual accounts.  Simulated performance data has inherent limitations, as the simulated data is produced by the retroactive application of a backtested methodology.  Simulated performance data is based on criteria applied retroactively with the benefit of hindsight and knowledge of factors that may have positively affected its performance and may reflect a bias toward strategies that have performed well in the past.  Simulated performance does not represent actual account performance and should not be interpreted as an indication of such performance.  In addition, simulated performance does not represent the impact that material economic and market factors might have on an investment adviser’s decision-making process if the adviser were actually managing clients’ money.  Simulated performance also differs from actual account performance because the investment strategy may be adjusted at any time, for any reason and can continue to be changed until desired or better performance results are achieved. Future performance cannot be predicted based on simulated performance described herein.

The opinions expressed on this website, including those of Zebra Capital Management, are subject to change.

In addition, the information presented on this website should not be construed as legal, tax, investment or other advice. This material does not take into account the specific objectives, tax and financial condition or particular needs of any specific person and is not a recommendation to buy, sell, hold or roll over any asset or adopt any financial strategy. You should work with a financial professional to discuss your specific situation.

Furthermore, the information presented on this website is given as of a specific date, is likely to evolve over time, may not provide a full explanation of the topics presented and/or discussed on this website, and is not intended to be read in isolation. In addition, such information may contain projections or other forward‐looking statements regarding future events, targets, forecasts or expectations. There is no assurance that such events, targets, forecasts or expectations will be achieved or will not be significantly different from those expressed on this website. The information presented on this website is based upon current market conditions which will fluctuate and may be superseded by subsequent market events or for other reasons. No duty is assumed or undertaking made to update such forward-looking statements.

Certain of the information contained on this website has been obtained from third-party sources believed to be reliable. Such information, however, has not been independently verified, its accuracy and completeness cannot be guaranteed, and it should not be relied upon as such.

Any and all links to external sites referred to on this website are being provided as a convenience and for informational purposes only; they do not constitute an endorsement or an approval by Zebra Capital Management of any of the products and/or services referred to, or opinions expressed, therein. Zebra Capital Management bears no responsibility for the accuracy, legality or content of such external sites or for that of subsequent links.

No part of this website may be reproduced or redistributed in any form, or referred to in any publication, without the express prior written consent of Zebra Capital Management.

Additional information about Zebra Capital, the Zebra Funds, the Zebra Separate Accounts and the performance results for each is available upon request.