Spinnaker ETF Series - Parabla Innovation ETF
LZRD
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USD
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in mil. unless spec.- Sector
- Financial Services
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- Asset Management
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- IPO Date
- Apr 11, 2023
- Similar Companies
- Business
- Spinnaker ETF Series - Parabla Innovation ETF (LZRD) is an actively managed exchange-traded fund that seeks long-term capital growth by investing primarily in U.S.-listed equity securities of domestic and foreign companies, including those in emerging markets, that exhibit innovation through development, disruption, scaling, or refinement of products, services, technological improvements, or scientific advancements within their sectors; the fund's portfolio is concentrated in North American-domiciled issuers across technology, financial services, consumer discretionary, and energy sectors, with top holdings including Rivian Automotive (RIVN), Tesla (TSLA), Robinhood Markets (HOOD), Block (SQ), Apple (AAPL), Snap (SNAP), Alibaba Group (BABA), Uber Technologies (UBER), Amazon.com (AMZN), and Meta Platforms (META). LZRD, launched on April 11, 2023, and managed by Parabla, LLC under advisor Phillip Hanks, carries a net expense ratio of 0.69% and maintains approximately $687,000 in assets under management as of late 2025, with non-diversified exposure determined through proprietary research assessing long-term growth potential and market valuations for opportunistic positioning. Issued through Spinnaker ETF Trust, an established open-end investment company registered under the Investment Company Act of 1940 and based in Portland, Oregon, the fund operates globally with a thematic focus on innovative equities listed on U.S. exchanges, targeting investors seeking growth from sector-agnostic innovation leaders; services include daily creation/redemption units via authorized participants, with custody by Clear Street, LLC, administration by The Nottingham Company, and distribution by Capital Investment Group, Inc. Recent developments include sustained low-volume trading amid a shrinking asset base to under $700,000 by mid-2025, signaling potential operational challenges or delisting risks for this nascent ETF from new issuer Parabla, whose debut product LZRD has seen minimal inflows since inception despite active management aimed at blending high-conviction innovation bets with disciplined turnover. No major partnerships, acquisitions, funding rounds, or product expansions have been reported for LZRD or Parabla in the last 1-2 years, with Spinnaker ETF Trust continuing to host multiple active ETFs focused on diverse equity strategies.