VELA Investment Management, LLC
Sector Allocation
- Industrials23.4%$97.0M
- Consumer Discretionary13.1%$54.4M
- Financials12.8%$53.2M
- Healthcare12.0%$49.7M
- Technology11.1%$46.0M
- Communication Services7.0%$29.3M
- Energy7.0%$29.1M
- Consumer Staples6.8%$28.1M
- Materials6.2%$25.9M
- Utilities0.3%$1.4M
AUM History
13fpro.ai/research/fund/vela-investment-management-llc-1895612
Conviction and streaks
Diversifying · top 10 = 27.9%From the fund's last 12 quarters of 13F filings: positions held longest at size, and names it added to or trimmed several quarters running.
Largest positions — Q2 2026
KEX
$17.7MCRTO
$14.2MWOR
$12.3MGOOGL
$11.8MBRK.B
$11.8MHUBG
$11.6MAMZN
$9.7MLECO
$9.3MJKHY
$9.2MCSL
$8.3MCSX
$7.9MWHD
$7.6MPOOL
$7.3MJNJ
$6.6MDIS
$6.6MACGL
$6.3MCPA
$6.2MZBRA
$5.8MBATRA
$5.7MTMO
$5.6M
Top 20 stock positions. Options are left out: 13F reports them at the underlying's value.
13fpro.ai/research/fund/vela-investment-management-llc-1895612
VELA Investment Management, LLC 13F holdings — Q2 2026
$467.7M portfolio (+7.3% QoQ) · 165 holdings · Q2 2026 13F · top 10 are 28% of the stock portfolio
Includes $52.1M of put/call options ($49.7M puts, $2.4M calls), which 13F rules report at the value of the underlying shares, not the premium at risk. Stocks alone: $415.6M. Weights use the stock portfolio.
$17.7M
4.3% of stocks
-9%This quarter+3.1%Since filed10+ qtrsHeldAIQuality61.9#743Est. buyEstimated buy price is Pro: unlock with a free trialTrimmed 3 qtrs in a row$14.2M
3.4% of stocks
-5%This quarter-32.3%Since filed10+ qtrsHeld$12.3M
3.0% of stocks
+5%This quarter+12.9%Since filed7 qtrsHeld$11.8M
2.9% of stocks
-10%This quarter-15.7%Since filed10+ qtrsHeld$11.8M
2.8% of stocks
+2%This quarter—Since filed10+ qtrsHeld$11.6M
2.8% of stocks
-13%This quarter-43.6%Since filed10+ qtrsHeldAIQualityAI quality score is Pro: unlock with a free trialEst. buyEstimated buy price is Pro: unlock with a free trialTrimmed 2 qtrs in a row$9.7M
2.3% of stocks
-6%This quarter-12.3%Since filed10+ qtrsHeld$9.3M
2.2% of stocks
+0.7%This quarter-3.4%Since filed10+ qtrsHeld$9.2M
2.2% of stocks
+77%This quarter+3.7%Since filed3 qtrsHeldAIQualityAI quality score is Pro: unlock with a free trialEst. buyEstimated buy price is Pro: unlock with a free trialAdded 3 qtrs in a row$8.3M
2.0% of stocks
+9%This quarter-7.0%Since filed3 qtrsHeldAIQualityAI quality score is Pro: unlock with a free trialEst. buyEstimated buy price is Pro: unlock with a free trialAdded 3 qtrs in a row
All holdings — VELA Investment Management, LLC (Q2 2026)
165 disclosed positions from the Form 13F-HR on SEC EDGAR, with quarter-over-quarter share changes. Largest by value first; the ten above are not repeated.
| # | Company | Held | Source | |||||||
|---|---|---|---|---|---|---|---|---|---|---|
| 11 | — PUT | iShares Semiconductor ETF - COM | — | $14.4M | — | 23K | New | — | — | 13F |
| 12 | CSX CORP | Industrials | $7.9M | 1.9% | 166K | -9% | 10+ qtrsTrimmed 3 qtrs in a row | AI quality score is Pro: unlock with a free trial | 13F | |
| 13 | Cactus, Inc. | Energy | $7.6M | 1.8% | 149K | +3% | 7 qtrs | AI quality score is Pro: unlock with a free trial | 13F | |
| 14 | POOL CORP | Consumer Discretionary | $7.3M | 1.8% | 34K | -9% | 5 qtrs | AI quality score is Pro: unlock with a free trial | 13F | |
| 15 | JOHNSON & JOHNSON | Healthcare | $6.6M | 1.6% | 26K | -12% | 10+ qtrsTrimmed 3 qtrs in a row | AI quality score is Pro: unlock with a free trial | 13F | |
| 16 | Walt Disney Co | Communication Services | $6.6M | 1.6% | 69K | +12% | 10+ qtrsAdded 3 qtrs in a row | AI quality score is Pro: unlock with a free trial | 13F | |
| 17 | ARCH CAPITAL GROUP LTD. | Financials | $6.3M | 1.5% | 64K | -0.4% | 10+ qtrs | AI quality score is Pro: unlock with a free trial | 13F | |
| 18 | Copa Holdings, S.A. | Industrials | $6.2M | 1.5% | 40K | +0.4% | 10+ qtrs | AI quality score is Pro: unlock with a free trial | 13F | |
| 19 | ZEBRA TECHNOLOGIES CORP | Industrials | $5.8M | 1.4% | 22K | +1466% | 2 qtrsAdded 2 qtrs in a row | AI quality score is Pro: unlock with a free trial | 13F | |
| 20 | Atlanta Braves Holdings, Inc. | Communication Services | $5.7M | 1.4% | 109K | — | 10+ qtrs | AI quality score is Pro: unlock with a free trial | 13F | |
| 21 | THERMO FISHER SCIENTIFIC INC. | Healthcare | $5.6M | 1.4% | 11K | +16% | 6 qtrsAdded 2 qtrs in a row | AI quality score is Pro: unlock with a free trial | 13F | |
| 22 | Gildan Activewear Inc. | Consumer Discretionary | $5.6M | 1.3% | 108K | +42% | 3 qtrsAdded 3 qtrs in a row | AI quality score is Pro: unlock with a free trial | 13F | |
| 23 | AXIS CAPITAL HOLDINGS LTD | Financials | $5.5M | 1.3% | 52K | +7% | 10+ qtrs | AI quality score is Pro: unlock with a free trial | 13F | |
| 24 | Murphy USA Inc. | Consumer Discretionary | $5.3M | 1.3% | 9,760 | -18% | 5 qtrs | AI quality score is Pro: unlock with a free trial | 13F | |
| 25 | Encompass Health Corp | Healthcare | $5.1M | 1.2% | 51K | +54% | 10+ qtrsAdded 3 qtrs in a row | AI quality score is Pro: unlock with a free trial | 13F | |
| 26 | $ABT | ABBOTT LABORATORIES | Healthcare | $5.0M | 1.2% | 55K | +164% | |||
| 27 | $IPAR | INTERPARFUMS INC | Consumer Staples | $4.9M | 1.2% | 44K | +11% | |||
| 28 | $GHC | Graham Holdings Co | Consumer Discretionary | $4.9M | 1.2% | 4,288 | -0.8% | |||
| 29 | $GBX | GREENBRIER COMPANIES INC | Industrials | $4.8M | 1.1% | 98K | +3% | |||
| 30 | $AR | ANTERO RESOURCES Corp | Energy | $4.7M | 1.1% | 134K | +29% | |||
| 31 | $PEP | PEPSICO INC | Consumer Staples | $4.7M | 1.1% | 35K | +4% | |||
| 32 | $BRKR | BRUKER CORP | Healthcare | $4.7M | 1.1% | 77K | -23% | |||
| 33 | $ALGT | Allegiant Travel CO | Industrials | $4.5M | 1.1% | 38K | New | |||
| 34 | $MOV | MOVADO GROUP INC | Technology | $4.4M | 1.1% | 111K | -38% | |||
| 35 | $PFGC | Performance Food Group Co | Consumer Staples | $4.3M | 1.1% | 39K | -0.7% | |||
| 36 | $VVV | VALVOLINE INC | Energy | $4.3M | 1.0% | 109K | — | |||
| 37 | $BKNG | Booking Holdings Inc. | Consumer Discretionary | $4.3M | 1.0% | 24K | +2671% | |||
| 38 | $SSD | Simpson Manufacturing Co., Inc. | Industrials | $4.1M | 1.0% | 20K | +20% | |||
| 39 | $EFX | EQUIFAX INC | Financials | $4.1M | 1.0% | 26K | +26% | |||
| 40 | $MSM | MSC INDUSTRIAL DIRECT CO INC | Consumer Discretionary | $3.9M | 0.9% | 33K | New | |||
| 41 | $ALGN | ALIGN TECHNOLOGY INC | Healthcare | $3.8M | 0.9% | 23K | +15% | |||
| 42 | $ETSY | ETSY INC | Industrials | $3.7M | 0.9% | 49K | — | |||
| 43 | $AIT | APPLIED INDUSTRIAL TECHNOLOGIES INC | Consumer Discretionary | $3.7M | 0.9% | 11K | -18% | |||
| 44 | $NFG | NATIONAL FUEL GAS CO | Energy | $3.6M | 0.9% | 47K | +34% | |||
| 45 | $LMB | Limbach Holdings, Inc. | Industrials | $3.6M | 0.9% | 47K | +9% | |||
| 46 | $MSFT | MICROSOFT CORP | Technology | $3.6M | 0.9% | 9,618 | +5% | |||
| 47 | $HLI | HOULIHAN LOKEY, INC. | Financials | $3.5M | 0.8% | 26K | +63% | |||
| 48 | $LW | Lamb Weston Holdings, Inc. | Consumer Staples | $3.5M | 0.8% | 82K | +1% | |||
| 49 | $PAL | Proficient Auto Logistics, Inc | Industrials | $3.5M | 0.8% | 511K | +24% | |||
| 50 | $AGM | FEDERAL AGRICULTURAL MORTGAGE CORP | Financials | $3.4M | 0.8% | 17K | +6% | |||
| 51 | $MSFT PUT | MICROSOFT CORP | Technology | $3.4M | — | 9,000 | +200% | |||
| 52 | $SIBN | SI-BONE, Inc. | Healthcare | $3.3M | 0.8% | 201K | +7% | |||
| 53 | $EPAM | EPAM Systems, Inc. | Technology | $3.1M | 0.8% | 39K | +49% | |||
| 54 | $TTC | TORO CO | Industrials | $3.1M | 0.7% | 32K | +11% | |||
| 55 | $GOOGL PUT | Alphabet Inc. | Technology | $3.0M | — | 8,500 | +21% | |||
| 56 | $SUPN | SUPERNUS PHARMACEUTICALS, INC. | Healthcare | $3.0M | 0.7% | 65K | +25% | |||
| 57 | $AGO | ASSURED GUARANTY LTD | Financials | $2.9M | 0.7% | 36K | — | |||
| 58 | $PPG | PPG INDUSTRIES INC | Materials | $2.8M | 0.7% | 23K | -12% | |||
| 59 | $DOO | BRP Inc. | Industrials | $2.8M | 0.7% | 45K | +61% | |||
| 60 | $TDW | TIDEWATER INC | Industrials | $2.7M | 0.7% | 41K | +17% | |||
| 61 | $RRC | RANGE RESOURCES CORP | Energy | $2.7M | 0.6% | 72K | +18% | |||
| 62 | $PRCT | PROCEPT BioRobotics Corp | Healthcare | $2.7M | 0.6% | 118K | +61% | |||
| 63 | $ESNT | Essent Group Ltd. | Financials | $2.6M | 0.6% | 41K | +2% | |||
| 64 | $C PUT | CITIGROUP INC | Financials | $2.6M | — | 19K | — | |||
| 65 | $AMZN PUT | AMAZON COM INC | Consumer Discretionary | $2.4M | — | 10K | — | |||
| 66 | $BAC PUT | BANK OF AMERICA CORP /DE/ | Financials | $2.3M | — | 40K | +60% | |||
| 67 | $ACN | Accenture plc | Technology | $2.3M | 0.6% | 18K | -32% | |||
| 68 | $GMED | GLOBUS MEDICAL INC | Healthcare | $2.3M | 0.5% | 29K | +6% | |||
| 69 | $ICLR | ICON PLC | Healthcare | $2.2M | 0.5% | 13K | +531% | |||
| 70 | $MET | METLIFE INC | Financials | $2.1M | 0.5% | 25K | -0.3% | |||
| 71 | $MAMA | Mama's Creations, Inc. | Consumer Staples | $2.1M | 0.5% | 115K | -0.2% | |||
| 72 | $SU | SUNCOR ENERGY INC | Energy | $2.0M | 0.5% | 37K | -5% | |||
| 73 | $IBP | Installed Building Products, Inc. | Industrials | $1.9M | 0.5% | 8,391 | +7% | |||
| 74 | $CPAY | CORPAY, INC. | Financials | $1.9M | 0.5% | 5,782 | +0.4% | |||
| 75 | $OLLI | Ollie's Bargain Outlet Holdings, Inc. | Consumer Discretionary | $1.9M | 0.5% | 25K | New | |||
| 76 | $COKE | Coca-Cola Consolidated, Inc. | Consumer Staples | $1.9M | 0.5% | 9,874 | — | |||
| 77 | $CPRT | COPART INC | Consumer Discretionary | $1.9M | 0.5% | 66K | New | |||
| 78 | $BKNG PUT | Booking Holdings Inc. | Consumer Discretionary | $1.8M | — | 10K | +4900% | |||
| 79 | $JNJ PUT | JOHNSON & JOHNSON | Healthcare | $1.8M | — | 7,000 | — | |||
| 80 | $BKR | Baker Hughes Co | Energy | $1.8M | 0.4% | 32K | — | |||
| 81 | $OWL PUT | BLUE OWL CAPITAL INC. | Financials | $1.8M | — | 200K | +264% | |||
| 82 | $TBBB | BBB FOODS INC | Consumer Staples | $1.7M | 0.4% | 42K | +6% | |||
| 83 | $IMKTA | INGLES MARKETS INC | Consumer Staples | $1.7M | 0.4% | 19K | -24% | |||
| 84 | $NOMD | Nomad Foods Ltd | Consumer Staples | $1.7M | 0.4% | 154K | -18% | |||
| 85 | $ZTS | Zoetis Inc. | Healthcare | $1.7M | 0.4% | 23K | +49% | |||
| 86 | $AGI | ALAMOS GOLD INC | Materials | $1.6M | 0.4% | 53K | -40% | |||
| 87 | $SPSC | SPS COMMERCE INC | Technology | $1.6M | 0.4% | 27K | +3% | |||
| 88 | $META | Meta Platforms, Inc. | Technology | $1.6M | 0.4% | 2,768 | -5% | |||
| 89 | $C | CITIGROUP INC | Financials | $1.5M | 0.4% | 11K | -22% | |||
| 90 | $HD | HOME DEPOT, INC. | Consumer Discretionary | $1.5M | 0.4% | 4,293 | +9% | |||
| 91 | — PUT | Roundhill Memory ETF - COM | — | $1.5M | — | 20K | New | |||
| 92 | $V | VISA INC. | Financials | $1.4M | 0.3% | 4,225 | -0.3% | |||
| 93 | $BAC | BANK OF AMERICA CORP /DE/ | Financials | $1.4M | 0.3% | 25K | -0.3% | |||
| 94 | $GLOB | Globant S.A. | Technology | $1.4M | 0.3% | 49K | +43% | |||
| 95 | $PLTR PUT | Palantir Technologies Inc. | Technology | $1.4M | — | 12K | New | |||
| 96 | $TTE | TotalEnergies SE | Energy | $1.4M | 0.3% | 18K | — | |||
| 97 | $NFLX | NETFLIX INC | Communication Services | $1.4M | 0.3% | 20K | +240% | |||
| 98 | $NI | NISOURCE INC. | Utilities | $1.4M | 0.3% | 28K | -2% | |||
| 99 | $ARCO | Arcos Dorados Holdings Inc. | Consumer Discretionary | $1.3M | 0.3% | 167K | — | |||
| 100 | $MMM PUT | 3M CO | Healthcare | $1.3M | — | 8,000 | — | |||
| 101 | $MET PUT | METLIFE INC | Financials | $1.3M | — | 15K | +50% | |||
| 102 | $FDX PUT | FEDEX CORP | Industrials | $1.3M | — | 4,000 | +33% | |||
| 103 | $META PUT | Meta Platforms, Inc. | Technology | $1.2M | — | 2,200 | — | |||
| 104 | $TSN | TYSON FOODS, INC. | Consumer Staples | $1.2M | 0.3% | 22K | +8% | |||
| 105 | $MMM | 3M CO | Healthcare | $1.2M | 0.3% | 7,409 | -0.1% | |||
| 106 | $TJX | TJX COMPANIES INC /DE/ | Consumer Discretionary | $1.2M | 0.3% | 7,828 | -11% | |||
| 107 | $CRM PUT | Salesforce, Inc. | Technology | $1.2M | — | 7,500 | +50% | |||
| 108 | $SCHW | SCHWAB CHARLES CORP | Financials | $1.1M | 0.3% | 12K | -0.1% | |||
| 109 | $ADSK | Autodesk, Inc. | Technology | $1.1M | 0.3% | 5,777 | +15% | |||
| 110 | $DECK | DECKERS OUTDOOR CORP | Consumer Discretionary | $1.1M | 0.3% | 11K | +8% | |||
| 111 | $BKR PUT | Baker Hughes Co | Energy | $1.1M | — | 20K | — | |||
| 112 | $CRM | Salesforce, Inc. | Technology | $1.1M | 0.3% | 6,977 | -23% | |||
| 113 | $MU CALL | MICRON TECHNOLOGY INC | Technology | $1.0M | — | 900 | New | |||
| 114 | $DE | DEERE & CO | Industrials | $1.0M | 0.3% | 1,635 | -0.4% | |||
| 115 | $UBER | Uber Technologies, Inc | Technology | $1.0M | 0.3% | 14K | +18% | |||
| 116 | $MPLX | MPLX LP | Energy | $1.0M | 0.3% | 18K | +10% | |||
| 117 | $CSX PUT | CSX CORP | Industrials | $951K | — | 20K | — | |||
| 118 | $NOW | ServiceNow, Inc. | Technology | $940K | 0.2% | 9,468 | — | |||
| 119 | $AZN | ASTRAZENECA PLC | Healthcare | $920K | 0.2% | 4,854 | -26% | |||
| 120 | $FDX | FEDEX CORP | Industrials | $857K | 0.2% | 2,736 | — | |||
| 121 | $MA | Mastercard Inc | Financials | $853K | 0.2% | 1,661 | +73% | |||
| 122 | $AMD | ADVANCED MICRO DEVICES INC | Technology | $841K | 0.2% | 1,448 | -9% | |||
| 123 | $UBER PUT | Uber Technologies, Inc | Technology | $722K | — | 10K | — | |||
| 124 | $TSM CALL | TAIWAN SEMICONDUCTOR MANUFACTURING CO LTD | Technology | $716K | — | 1,500 | -81% | |||
| 125 | $GOOG | Alphabet Inc. | Technology | $711K | 0.2% | 2,012 | -2% | |||
| 126 | $DECK PUT | DECKERS OUTDOOR CORP | Consumer Discretionary | $695K | — | 7,000 | -53% | |||
| 127 | $MTN | VAIL RESORTS INC | Communication Services | $676K | 0.2% | 4,968 | -11% | |||
| 128 | $ALGN PUT | ALIGN TECHNOLOGY INC | Healthcare | $675K | — | 4,000 | -50% | |||
| 129 | $ABBV | AbbVie Inc. | Healthcare | $613K | 0.1% | 2,438 | -0.7% | |||
| 130 | $MSTR PUT | Strategy Inc | Financials | $609K | — | 7,000 | New | |||
| 131 | $MDT | Medtronic plc | Healthcare | $605K | 0.1% | 7,734 | +16% | |||
| 132 | $NOW PUT | ServiceNow, Inc. | Technology | $596K | — | 6,000 | -25% | |||
| 133 | $FIS | Fidelity National Information Services, Inc. | Financials | $594K | 0.1% | 15K | -2% | |||
| 134 | $ADSK PUT | Autodesk, Inc. | Technology | $583K | — | 3,000 | -25% | |||
| 135 | $KKR | KKR & Co. Inc. | Financials | $579K | 0.1% | 6,310 | — | |||
| 136 | $FIBK | FIRST INTERSTATE BANCSYSTEM INC | Financials | $563K | 0.1% | 15K | — | |||
| 137 | $EPAM PUT | EPAM Systems, Inc. | Technology | $555K | — | 7,000 | — | |||
| 138 | $SPG | SIMON PROPERTY GROUP INC. | Real Estate | $555K | 0.1% | 2,480 | -8% | |||
| 139 | $RKT | Rocket Companies, Inc. | Financials | $549K | 0.1% | 35K | — | |||
| 140 | $BXP | BXP, Inc. | Real Estate | $528K | 0.1% | 7,961 | -13% | |||
| 141 | $NVR | NVR INC | Industrials | $518K | 0.1% | 76 | New | |||
| 142 | $UNP | UNION PACIFIC CORP | Industrials | $475K | 0.1% | 1,748 | -0.7% | |||
| 143 | $SHW | SHERWIN WILLIAMS CO | Materials | $469K | 0.1% | 1,362 | New | |||
| 144 | $NOC | NORTHROP GRUMMAN CORP /DE/ | Technology | $458K | 0.1% | 899 | — | |||
| 145 | $LIN | LINDE PLC | Materials | $446K | 0.1% | 859 | — | |||
| 146 | $CCZ | COMCAST CORP | Communication Services | $445K | 0.1% | 18K | +46% | |||
| 147 | $PYPL CALL | PayPal Holdings, Inc. | Financials | $432K | — | 10K | -20% | |||
| 148 | $DPZ | DOMINOS PIZZA INC | Consumer Discretionary | $429K | 0.1% | 1,450 | +10% | |||
| 149 | $FSK PUT | FS KKR Capital Corp | Other | $420K | — | 40K | New | |||
| 150 | $FOUR | Shift4 Payments, Inc. | Industrials | $374K | 0.1% | 6,000 | — |
What changed in Q2 2026
Against the previous quarter's 13F: 20 new, 67 added to, 50 trimmed, 29 sold out. Share-count changes; largest moves by dollar size first.
New positions (20)
- PUTiShares Semiconductor ETF - COM$14.4M
first bought this quarter
$ALGTAllegiant Travel CO$4.5M
first bought this quarter
$MSMMSC INDUSTRIAL DIRECT CO INC$3.9M
first bought this quarter
$OLLIOllie's Bargain Outlet Holdings, Inc.$1.9M
first bought this quarter
$CPRTCOPART INC$1.9M
first bought this quarter
- PUTRoundhill Memory ETF - COM$1.5M
first bought this quarter
+14 more in the Excel export
Added to (67)
$ZBRAZEBRA TECHNOLOGIES CORP+1466%
now $5.8M · held 2 qtrs, 2 adds in a row
$BKNGBooking Holdings Inc.+2671%
now $4.3M · held 10+ qtrs, 2 adds in a row
$JKHYJACK HENRY & ASSOCIATES INC+77%
now $9.2M · held 3 qtrs, 3 adds in a row
$ABTABBOTT LABORATORIES+164%
now $5.0M · held 10+ qtrs
$MSFTPUTMICROSOFT CORP+200%
now $3.4M
$ICLRICON PLC+531%
now $2.2M · held 2 qtrs, 2 adds in a row
+61 more in the Excel export
Trimmed (50)
$WIXWix.com Ltd.-96%
now $255K · held 10+ qtrs
$TSMCALLTAIWAN SEMICONDUCTOR MANUFACTURING CO LTD-81%
now $716K
$MOVMOVADO GROUP INC-38%
now $4.4M · held 8 qtrs, 3 trims in a row
$KEXKIRBY CORP-9%
now $17.7M · held 10+ qtrs, 3 trims in a row
$HUBGHub Group, Inc.-13%
now $11.6M · held 10+ qtrs, 2 trims in a row
$BRKRBRUKER CORP-23%
now $4.7M · held 7 qtrs, 2 trims in a row
+44 more in the Excel export
Sold out (29)
$SNCYSun Country Airlines Holdings, LLCwas $4.0M
held 7 qtrs
$SYYSYSCO CORPwas $3.8M
held 9+ qtrs
$JBIJanus International Group, Inc.was $2.5M
held 6 qtrs
$UNHCALLUNITEDHEALTH GROUP INCwas $2.2M
- PUTEnergy Select Sector SPDR Fundwas $1.8M
$NLOPNet Lease Office Propertieswas $1.5M
held 5 qtrs
+23 more in the Excel export
Holdings by quarter
Every 13F VELA Investment Management, LLC has filed, 18 earlier quarters. Pick one to see what it held then.
Is it too late to follow VELA Investment Management?
Q2 2026 13F filed with the SEC on Aug 3, 2026. Prices are closing prices as of Oct 26, 2026.
Average quality of VELA Investment Management's top 20 holdings: 62/100 (our AI quality score, weighted by position size; 17 of the 20 are scored)
Top 10 since filing
-10.7%
Value-weighted move of the 10 largest stock positions
Turnover
11%
Last quarter; 46% over the last 4
Top 10 weight
28%
Share of the stock portfolio in its 10 largest positions
Held 4+ quarters
78%
Share of portfolio value in positions held a year or more
Highest-quality names it owns(among its 100 largest positions)
The 8 highest-scoring companies in this portfolio are a Pro feature.
How these are measured
- Moves since the quarter-end and since the filing date use our own daily closing prices, from the close on (or just before) each date to the latest close.
- Turnover is the lesser of shares bought or sold in a quarter, valued at the quarter-end prices in the 13F, divided by the average of the two quarters' stock portfolio values.
- Quarters held and add/trim streaks count back only through quarters whose filed holdings add up to the filing's own cover-page total (back to Q1 2024 for this fund). A change counts as an add or a trim when the split-adjusted share count moves by more than 1%.
- Estimate, not the fund's reported cost. For each quarter in the current holding period in which the fund's share count rose (split-adjusted), we take that quarter's average daily close and weight it by the shares added; sales do not change an average cost. Quarters where the stock's price history and the 13F's own implied price disagree by more than 2x are left out.
- Put and call option rows report the value of the underlying shares, not a position the fund paid for, so they are left out of all of the above.
Portfolio Overview
VELA Investment Management, LLC disclosed 165 positions worth $467.7M in its Form 13F-HR for Q2 2026 — $415.6M in common stock plus $52.1M of put/call option positions (reported at underlying notional value, not premium at risk), led by $KEX (KIRBY CORP) at 4.3% of the equity portfolio, followed by $CRTO and $WOR. During the quarter the fund opened 20 new positions and exited 29 and a full exit from $SNCY. The portfolio is most concentrated in Industrials (23.4% of disclosed assets). All figures are sourced directly from VELA Investment Management, LLC’s Form 13F-HR filing with the SEC under CIK 1895612.
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