Q3 2025 · 13F-HR
VELA Investment Management, LLCholdings as filed
Filed 2025-10-30 · accession 0001895612-25-000012
$409.9M
Reported value
172
Positions
2025-09-30
Period end
The Brief · VELA Investment Management, LLC · Q3 2025
AI · grounded in 13F
VELA Investment Management, LLC established a new position in the SPDR S&P 500 ETF Trust SPY worth $16.1M. The fund also initiated new stakes in Alphabet Inc GOOGL for $14.1M and Kirby Corp KEX for $13.4M. Additional new positions include Berkshire Hathaway Inc Cl B BRK/B, Hub Group Inc HUBG, and Wix.com Ltd WIX.
Holdings as filed
| CUSIP | Ticker | Issuer | Value | % port. | Shares | Class | Voting |
|---|---|---|---|---|---|---|---|
| 78462F103 | SPY | SPDR S&P 500 ETF Trust | $16.0M | 3.90% | 24,000 | PUT | SOLE |
| 497266106 | KEX | Kirby Corp | $13.4M | 3.27% | 160,475 | Common | SOLE |
| 084670702 | BRK/B | Berkshire Hathaway Inc Cl B | $11.8M | 2.89% | 23,570 | Common | SOLE |
| 443320106 | HUBG | Hub Group Inc | $10.9M | 2.65% | 315,183 | Common | SOLE |
| 02079K305 | GOOGL | Alphabet Inc | $10.2M | 2.49% | 42,069 | Common | SOLE |
| M98068105 | WIX | Wix.com Ltd | $10.2M | 2.48% | 57,343 | Common | SOLE |
| 226718104 | CRTO | Criteo SA | $9.7M | 2.37% | 430,165 | Common | SOLE |
| 023135106 | AMZN | Amazon.com Inc | $8.4M | 2.04% | 38,132 | Common | SOLE |
| 533900106 | LECO | Lincoln Electric Holdings Inc | $8.3M | 2.02% | 35,075 | Common | SOLE |
| 384637104 | GHC | Graham Holdings Co | $8.1M | 1.99% | 6,916 | Common | SOLE |
| 92047W101 | VVV | Valvoline Inc | $7.8M | 1.91% | 217,728 | Common | SOLE |
| 126408103 | CSX | CSX Corp | $7.2M | 1.75% | 202,576 | Common | SOLE |
| 478160104 | JNJ | Johnson & Johnson | $7.0M | 1.72% | 37,933 | Common | SOLE |
| 871829107 | SYY | Sysco Corp | $6.9M | 1.69% | 84,327 | Common | SOLE |
| 03820C105 | AIT | Applied Industrial Technologie | $6.7M | 1.63% | 25,542 | Common | SOLE |
| 880770102 | TER | Teradyne Inc | $6.1M | 1.49% | 44,520 | Common | SOLE |
| 254687106 | DIS | Walt Disney Co/The | $5.7M | 1.39% | 49,718 | Common | SOLE |
| G0450A105 | ACGL | Arch Capital Group Ltd | $5.5M | 1.34% | 60,360 | Common | SOLE |
| 011532108 | AGI | Alamos Gold Inc | $5.3M | 1.30% | 152,985 | Common | SOLE |
| 713448108 | PEP | PepsiCo Inc | $4.9M | 1.20% | 34,895 | Common | SOLE |
| G0692U109 | AXS | Axis Capital Holdings Ltd | $4.8M | 1.17% | 49,970 | Common | SOLE |
| 127203107 | WHD | Cactus Inc. A | $4.6M | 1.13% | 117,549 | Common | SOLE |
| 883556102 | TMO | Thermo Fisher Scientific Inc | $4.5M | 1.10% | 9,305 | Common | SOLE |
| 71377A103 | PFGC | Performance Food Group Co | $4.5M | 1.10% | 43,283 | Common | SOLE |
| 666807102 | NOC | Northrop Grumman Corp | $4.3M | 1.05% | 7,060 | Common | SOLE |
| P31076105 | CPA | Copa Holdings SA | $4.2M | 1.02% | 35,276 | Common | SOLE |
| 03674X106 | AR | Antero Resources Corp | $4.1M | 1.00% | 121,635 | Common | SOLE |
| 02079K305 | GOOGL | Alphabet Inc | $3.9M | 0.95% | 16,000 | PUT | SOLE |
| 594918104 | MSFT | Microsoft Corp | $3.8M | 0.92% | 7,268 | Common | SOLE |
| 624580106 | MOV | Movado Group PLC | $3.8M | 0.92% | 198,351 | Common | SOLE |
| 002824100 | ABT | Abbott Laboratories | $3.7M | 0.91% | 27,883 | Common | SOLE |
| 393657101 | GBX | Greenbrier Cos Inc/The | $3.7M | 0.91% | 80,426 | Common | SOLE |
| 594918104 | MSFT | Microsoft Corp | $3.6M | 0.88% | 7,000 | PUT | SOLE |
| 191098102 | COKE | Coca-Cola Consolidated Inc | $3.6M | 0.87% | 30,307 | Common | SOLE |
| 75281A109 | RRC | Range Resources Corp | $3.5M | 0.86% | 93,472 | Common | SOLE |
| G4766E116 | INDV | Indivior PLC | $3.4M | 0.84% | 142,511 | Common | SOLE |
| 73278L105 | POOL | Pool Corp | $3.4M | 0.83% | 10,967 | Common | SOLE |
| 56146T103 | MAMA | Mama's Creations Inc | $3.3M | 0.79% | 309,725 | Common | SOLE |
| 047726302 | BATRK | Atlanta Braves Holdings Inc | $3.2M | 0.79% | 77,960 | Common | SOLE |
| 31620M106 | FIS | Fidelity National Information | $3.1M | 0.76% | 47,031 | Common | SOLE |
| G1151C101 | ACN | Accenture PLC | $2.9M | 0.71% | 11,867 | Common | SOLE |
| G0585R106 | AGO | Assured Guaranty Ltd | $2.9M | 0.71% | 34,282 | Common | SOLE |
| 67066G104 | NVDA | Nvidia Corp | $2.9M | 0.71% | 15,500 | PUT | SOLE |
| 45780R101 | IBP | Installed Bldg Prods Inc | $2.9M | 0.71% | 11,720 | Common | SOLE |
| 47103N106 | JBI | Janus International Group IN | $2.8M | 0.67% | 278,725 | Common | SOLE |
| 88162G103 | TTEK | Tetra Tech Inc | $2.7M | 0.66% | 80,787 | Common | SOLE |
| 313148306 | AGM | Federal Agric Mtg Corp Cl C | $2.6M | 0.64% | 15,539 | Common | SOLE |
| 626755102 | MUSA | Murphy USA Inc. | $2.6M | 0.64% | 6,714 | Common | SOLE |
| 811543107 | SEB | Seaboard Corp | $2.6M | 0.63% | 711 | Common | SOLE |
| 867224107 | SU | Suncor Energy Inc | $2.6M | 0.63% | 61,999 | Common | SOLE |
| 05605H100 | BWXT | BWX Technologies Inc | $2.5M | 0.62% | 13,701 | Common | SOLE |
| 05561Q201 | BOKF | BOK Financial Corp | $2.5M | 0.61% | 22,300 | Common | SOLE |
| 866683105 | SNCY | Sun Country Airlines Holding | $2.5M | 0.60% | 209,432 | Common | SOLE |
| 00287Y109 | ABBV | AbbVie Inc | $2.4M | 0.59% | 10,423 | Common | SOLE |
| 30303M102 | META | Meta Platforms Inc | $2.4M | 0.58% | 3,218 | Common | SOLE |
| 30303M102 | META | Meta Platforms Inc | $2.4M | 0.57% | 3,200 | PUT | SOLE |
| 172967424 | C | Citigroup Inc | $2.2M | 0.55% | 22,032 | Common | SOLE |
| G1151C101 | ACN | Accenture PLC | $2.2M | 0.54% | 9,000 | PUT | SOLE |
| 29414B104 | EPAM | EPAM Systems Inc | $2.2M | 0.54% | 14,686 | Common | SOLE |
| 116794108 | BRKR | Bruker Corp | $2.2M | 0.54% | 68,000 | Common | SOLE |
| 82452J109 | FOUR | Shift 4 Payments Inc. Cl A | $2.2M | 0.54% | 28,406 | Common | SOLE |
| 98978V103 | ZTS | Zoetis Inc | $2.2M | 0.53% | 14,883 | Common | SOLE |
| 64110Y108 | NLOP | Net Lease Office Properties | $2.1M | 0.52% | 72,336 | Common | SOLE |
| 981811102 | WOR | Worthington Inc | $2.1M | 0.52% | 38,581 | Common | SOLE |
| 636180101 | NFG | National Fuel Gas Co NJ | $2.1M | 0.52% | 23,114 | Common | SOLE |
| 59156R108 | MET | MetLife Inc | $2.1M | 0.51% | 25,273 | Common | SOLE |
| 825704109 | SIBN | SI-BONE Inc | $2.1M | 0.51% | 141,222 | Common | SOLE |
| 336901103 | SRCE | 1st Source Corp | $2.1M | 0.50% | 33,308 | Common | SOLE |
| 172967424 | C | Citigroup Inc | $2.0M | 0.48% | 19,500 | PUT | SOLE |
| 023135106 | AMZN | Amazon.com Inc | $2.0M | 0.48% | 9,000 | PUT | SOLE |
| 868459108 | SUPN | Supernus Pharmaceuticals Inc. | $1.9M | 0.47% | 40,251 | Common | SOLE |
| 478160104 | JNJ | Johnson & Johnson | $1.9M | 0.45% | 10,000 | PUT | SOLE |
| 55336V100 | MPLX | MPLX LP | $1.8M | 0.44% | 35,906 | Common | SOLE |
| 29261A100 | EHC | Encompass Health Corp | $1.8M | 0.43% | 13,859 | Common | SOLE |
| 457030104 | IMKTA | Ingles Markets Inc. - Class A | $1.7M | 0.43% | 25,065 | Common | SOLE |
| 651587107 | NEU | NewMarket Corp | $1.7M | 0.42% | 2,088 | Common | SOLE |
| 09857L108 | BKNG | Booking Holdings Inc | $1.6M | 0.39% | 294 | Common | SOLE |
| 654106103 | NKE | NIKE Inc | $1.6M | 0.38% | 22,495 | Common | SOLE |
| 05722G100 | BKR | Baker Hughes Co | $1.6M | 0.38% | 32,155 | Common | SOLE |
| 79466L302 | CRM | Salesforce Inc | $1.6M | 0.38% | 6,597 | Common | SOLE |
| 060505104 | BAC | Bank of America Corp | $1.6M | 0.38% | 30,255 | Common | SOLE |
| 88642R109 | TDW | Tidewater Inc | $1.5M | 0.38% | 28,980 | Common | SOLE |
| 023139884 | OSG | AMBAC Financial Group, Inc. | $1.5M | 0.37% | 180,089 | Common | SOLE |
| 379577208 | GMED | Globus Med Inc Cl A | $1.5M | 0.36% | 25,483 | Common | SOLE |
| 92826C839 | V | Visa Inc | $1.4M | 0.35% | 4,239 | Common | SOLE |
| M6191J100 | FROG | JFrog Ltd | $1.4M | 0.35% | 30,503 | Common | SOLE |
| 88579Y101 | MMM | 3M Co | $1.4M | 0.35% | 9,209 | Common | SOLE |
| 437076102 | HD | Home Depot Inc/The | $1.4M | 0.35% | 3,516 | Common | SOLE |
| 052769106 | ADSK | Autodesk Inc | $1.4M | 0.35% | 4,470 | Common | SOLE |
| 060505104 | BAC | Bank of America Corp | $1.4M | 0.35% | 27,500 | PUT | SOLE |
| 808513105 | SCHW | Charles Schwab Corp/The | $1.4M | 0.34% | 14,785 | Common | SOLE |
| 81762P102 | NOW | ServiceNow Inc | $1.4M | 0.34% | 1,519 | Common | SOLE |
| 88579Y101 | MMM | 3M Co | $1.4M | 0.34% | 9,000 | PUT | SOLE |
| 872540109 | TJX | TJX Cos Inc/The | $1.4M | 0.34% | 9,595 | Common | SOLE |
| 74317M104 | PAL | Proficient Auto Logistics Inc | $1.4M | 0.34% | 201,058 | Common | SOLE |
| 81762P102 | NOW | ServiceNow Inc | $1.4M | 0.34% | 1,500 | PUT | SOLE |
| 92826C839 | V | Visa Inc | $1.4M | 0.33% | 4,000 | PUT | SOLE |
| 05577W200 | DOO | BRP INC/CA- Sub-Voting | $1.3M | 0.33% | 22,193 | Common | SOLE |
| 67066G104 | NVDA | Nvidia Corp | $1.3M | 0.32% | 7,000 | CALL | SOLE |
| 693506107 | PPG | PPG Industries Inc | $1.3M | 0.32% | 12,361 | Common | SOLE |
| 05722G100 | BKR | Baker Hughes Co | $1.3M | 0.31% | 26,300 | PUT | SOLE |
| 79466L302 | CRM | Salesforce Inc | $1.3M | 0.31% | 5,300 | PUT | SOLE |
| 654106103 | NKE | NIKE Inc | $1.3M | 0.31% | 18,000 | PUT | SOLE |
| 31428X106 | FDX | FedEx Corp | $1.2M | 0.29% | 5,101 | Common | SOLE |
| 244199105 | DE | Deere & Co | $1.2M | 0.29% | 2,592 | Common | SOLE |
| 90353T100 | UBER | Uber Technologies Inc | $1.2M | 0.29% | 12,096 | Common | SOLE |
| 98978V103 | ZTS | Zoetis Inc | $1.2M | 0.29% | 8,000 | PUT | SOLE |
| 00287Y109 | ABBV | AbbVie Inc | $1.2M | 0.28% | 5,000 | PUT | SOLE |
| 855244109 | SBUX | Starbucks Corp | $1.1M | 0.28% | 13,386 | Common | SOLE |
| G0896C103 | TBBB | BBB Foods Inc | $1.1M | 0.27% | 40,500 | Common | SOLE |
| 016255101 | ALGN | Align Technology Inc | $1.1M | 0.27% | 8,692 | Common | SOLE |
| 09857L108 | BKNG | Booking Holdings Inc | $1.1M | 0.26% | 200 | PUT | SOLE |
| 046353108 | AZNN | AstraZeneca PLC | $1.1M | 0.26% | 13,987 | Common | SOLE |
| 48251W104 | KKR | KKR & Co Inc Cl A | $1.0M | 0.25% | 7,880 | Common | SOLE |
| 681116109 | OLLI | Ollie's Bargain Outlet Holding | $1.0M | 0.25% | 7,970 | Common | SOLE |
| G0457F107 | ARCO | Arcos Dorados Holdings Inc. -A | $1.0M | 0.25% | 151,000 | Common | SOLE |
| 90353T100 | UBER | Uber Technologies Inc | $979,700 | 0.24% | 10,000 | PUT | SOLE |
| 902494103 | TSN | Tyson Foods Inc | $959,915 | 0.23% | 17,678 | Common | SOLE |
| 55336V100 | MPLX | MPLX LP | $954,045 | 0.23% | 19,100 | PUT | SOLE |
| 016255101 | ALGN | Align Technology Inc | $939,150 | 0.23% | 7,500 | PUT | SOLE |
| 98138H101 | WDAY | Workday Inc | $923,200 | 0.23% | 3,835 | Common | SOLE |
| 00724F101 | ADBE | Adobe Inc | $882,580 | 0.22% | 2,502 | Common | SOLE |
| 574599106 | MAS | Masco Corp | $877,411 | 0.21% | 12,465 | Common | SOLE |
| 244199105 | DE | Deere & Co | $868,794 | 0.21% | 1,900 | PUT | SOLE |
| 62482R107 | 07WA | Mr Cooper Group Inc | $825,664 | 0.20% | 3,917 | Common | SOLE |
| 29414B104 | EPAM | EPAM Systems Inc | $753,950 | 0.18% | 5,000 | PUT | SOLE |
| G6564A105 | NOMD | Nomad Foods LTD | $735,085 | 0.18% | 55,900 | Common | SOLE |
| G5960L103 | MDT | Medtronic PLC | $710,395 | 0.17% | 7,459 | Common | SOLE |
| 70450Y103 | PYPL | PayPal Holdings Inc | $710,300 | 0.17% | 10,592 | Common | SOLE |
| 00724F101 | ADBE | Adobe Inc | $705,500 | 0.17% | 2,000 | PUT | SOLE |
| 91324P102 | UNH | UnitedHealth Group Inc | $690,600 | 0.17% | 2,000 | CALL | SOLE |
| L44385109 | GLOB | Globant SA | $671,346 | 0.16% | 11,700 | Common | SOLE |
| 855244109 | SBUX | Starbucks Corp | $659,880 | 0.16% | 7,800 | PUT | SOLE |
| 11135F101 | AVGO | Broadcom Inc | $659,820 | 0.16% | 2,000 | PUT | SOLE |
| 929566107 | WNC | Wabash National Corp | $654,440 | 0.16% | 66,306 | Common | SOLE |
| 243537107 | DECK | Deckers Outdoor Corp. | $646,234 | 0.16% | 6,375 | Common | SOLE |
| 243537107 | DECK | Deckers Outdoor Corp. | $608,220 | 0.15% | 6,000 | PUT | SOLE |
| 372460105 | GPC | Genuine Parts Co | $556,340 | 0.14% | 4,014 | Common | SOLE |
| M98068105 | WIX | Wix.com Ltd | $532,890 | 0.13% | 3,000 | PUT | SOLE |
| 49271V100 | KDP | Keurig Dr Pepper Inc | $510,200 | 0.12% | 20,000 | CALL | SOLE |
| 462222100 | IONS | Ionis Pharmaceuticals Inc | $490,650 | 0.12% | 7,500 | CALL | SOLE |
| G54950103 | LIN | Linde PLC Shs | $459,800 | 0.11% | 968 | Common | SOLE |
| 880770102 | TER | Teradyne Inc | $426,684 | 0.10% | 3,100 | PUT | SOLE |
| 91879Q109 | MTN | Vail Resorts Inc | $425,377 | 0.10% | 2,844 | Common | SOLE |
| 91060H108 | UHG | United Homes Group Inc. CL A | $413,000 | 0.10% | 100,000 | Common | SOLE |
| 46625H100 | JPM | JPMorgan Chase & Co | $383,247 | 0.09% | 1,215 | Common | SOLE |
| 828806109 | SPG | Simon Property Group Inc | $373,088 | 0.09% | 1,988 | Common | SOLE |
| 379577208 | GMED | Globus Med Inc Cl A | $372,255 | 0.09% | 6,500 | CALL | SOLE |
| H2906T109 | GRMN | Garmin Ltd | $371,792 | 0.09% | 1,510 | Common | SOLE |
| 32055Y201 | FIBK | First Interstate Bancsys-A | $366,537 | 0.09% | 11,501 | Common | SOLE |
| 05464T104 | AXSM | Axsome Therapeutics Inc. | $364,350 | 0.09% | 3,000 | CALL | SOLE |
| 20030N101 | CMCSA | Comcast Corp | $357,434 | 0.09% | 11,376 | Common | SOLE |
| 101121101 | BXP | Boston Properties Inc | $351,480 | 0.09% | 4,728 | Common | SOLE |
| 007903107 | AMD | Advanced Micro Devices Inc | $339,597 | 0.08% | 2,099 | Common | SOLE |
| 88160R101 | TSLA | Tesla Inc | $311,304 | 0.08% | 700 | CALL | SOLE |
| 007903107 | AMD | Advanced Micro Devices Inc | $307,401 | 0.07% | 1,900 | PUT | SOLE |
| 609207105 | MDLZ | Mondelez International Inc | $306,103 | 0.07% | 4,900 | Common | SOLE |
| 126650100 | CVS | CVS Health Corp | $301,560 | 0.07% | 4,000 | CALL | SOLE |
| N53745100 | LYB | LyondellBasell Industries NV | $294,240 | 0.07% | 6,000 | PUT | SOLE |
| 026874784 | AIG | American Intl Group Inc | $282,273 | 0.07% | 3,594 | Common | SOLE |
| 053611109 | AVY | Avery Dennison Corp | $281,851 | 0.07% | 1,738 | Common | SOLE |
| 922908769 | VTI | Vanguard Total Stock Market In | $261,551 | 0.06% | 797 | Common | SOLE |
| 882508104 | TXN | Texas Instruments Inc | $248,587 | 0.06% | 1,353 | Common | SOLE |
| 668074305 | NWE | Northwestern Energy Group Inc | $248,096 | 0.06% | 4,233 | Common | SOLE |
| G32089107 | ETOR | Etoro Group LTD-A | $247,620 | 0.06% | 6,000 | PUT | SOLE |
| 95082P105 | WCC | Wesco Intl Inc | $242,379 | 0.06% | 1,146 | Common | SOLE |
| 78462F103 | SPY | SPDR S&P 500 ETF Trust | $110,586 | 0.03% | 166 | Common | SOLE |
| 67066G104 | NVDA | Nvidia Corp | $107,664 | 0.03% | 577 | Common | SOLE |
| 81686C104 | 628 | SEMrush Holdings Inc | $86,723 | 0.02% | 12,249 | Common | SOLE |
| 88160R101 | TSLA | Tesla Inc | $11,563 | 0.00% | 26 | Common | SOLE |
| 11135F101 | AVGO | Broadcom Inc | $9,237 | 0.00% | 28 | Common | SOLE |
| 91324P102 | UNH | UnitedHealth Group Inc | $1,381 | 0.00% | 4 | Common | SOLE |
Source: SEC EDGAR · raw 13F holdings as filed. The Class column shows the option type when reported (Put/Call) or Common when the issuer's equity is held directly. 13F discloses long positions only.