13F HOLDINGS REPORT
VELA Investment Management, LLC
Quarter ended Q3 2025 · Filed October 30, 2025 · Accession 0001895612-25-000012
Total Value
$409.9M
Positions
174
Other Managers
0
Confidential Omitted
No
Holdings (174)
| # | Issuer | Ticker / CUSIP | Shares | Value | % of Filing |
|---|---|---|---|---|---|
| 1 | SPDR S&P 500 ETF Trust | SPY | 24,000 | $16.0M | 3.90% |
| 2 | Kirby Corp | KEX | 160,475 | $13.4M | 3.27% |
| 3 | Berkshire Hathaway Inc Cl B | BRK-A | 23,570 | $11.8M | 2.89% |
| 4 | Hub Group Inc | HUBG | 315,183 | $10.9M | 2.65% |
| 5 | Alphabet Inc | GOOG | 42,069 | $10.2M | 2.49% |
| 6 | Wix.com Ltd | WIX | 57,343 | $10.2M | 2.48% |
| 7 | Criteo SA | CRTO | 430,165 | $9.7M | 2.37% |
| 8 | Amazon.com Inc | AMZN | 38,132 | $8.4M | 2.04% |
| 9 | Lincoln Electric Holdings Inc | 533900106 | 35,075 | $8.3M | 2.02% |
| 10 | Graham Holdings Co | GHM | 6,916 | $8.1M | 1.99% |
| 11 | Valvoline Inc | VVV | 217,728 | $7.8M | 1.91% |
| 12 | CSX Corp | CSX | 202,576 | $7.2M | 1.75% |
| 13 | Johnson & Johnson | JNJ | 37,933 | $7.0M | 1.72% |
| 14 | Sysco Corp | SYY | 84,327 | $6.9M | 1.69% |
| 15 | Applied Industrial Technologie | 03820C105 | 25,542 | $6.7M | 1.63% |
| 16 | Teradyne Inc | TER | 44,520 | $6.1M | 1.49% |
| 17 | Walt Disney Co/The | 254687106 | 49,718 | $5.7M | 1.39% |
| 18 | Arch Capital Group Ltd | G0450A105 | 60,360 | $5.5M | 1.34% |
| 19 | Alamos Gold Inc | AGI | 152,985 | $5.3M | 1.30% |
| 20 | PepsiCo Inc | PEP | 34,895 | $4.9M | 1.20% |
| 21 | Axis Capital Holdings Ltd | G0692U109 | 49,970 | $4.8M | 1.17% |
| 22 | Cactus Inc. A | WHD | 117,549 | $4.6M | 1.13% |
| 23 | Thermo Fisher Scientific Inc | TMO | 9,305 | $4.5M | 1.10% |
| 24 | Performance Food Group Co | PFGC | 43,283 | $4.5M | 1.10% |
| 25 | Northrop Grumman Corp | NOC | 7,060 | $4.3M | 1.05% |
| 26 | Copa Holdings SA | CPA | 35,276 | $4.2M | 1.02% |
| 27 | Antero Resources Corp | AR | 121,635 | $4.1M | 1.00% |
| 28 | Microsoft Corp | MSFT | 7,268 | $3.8M | 0.92% |
| 29 | Movado Group PLC | MOVAA | 198,351 | $3.8M | 0.92% |
| 30 | Abbott Laboratories | ABLZF | 27,883 | $3.7M | 0.91% |
| 31 | Greenbrier Cos Inc/The | 393657101 | 80,426 | $3.7M | 0.91% |
| 32 | Microsoft Corp | MSFT | 7,000 | $3.6M | 0.88% |
| 33 | Coca-Cola Consolidated Inc | COKE | 30,307 | $3.6M | 0.87% |
| 34 | Range Resources Corp | RRC | 93,472 | $3.5M | 0.86% |
| 35 | Indivior PLC | INDV | 142,511 | $3.4M | 0.84% |
| 36 | Pool Corp | POOL | 10,967 | $3.4M | 0.83% |
| 37 | Mama's Creations Inc | 56146T103 | 309,725 | $3.3M | 0.79% |
| 38 | Atlanta Braves Holdings Inc | BATRB | 77,960 | $3.2M | 0.79% |
| 39 | Fidelity National Information | 31620M106 | 47,031 | $3.1M | 0.76% |
| 40 | Accenture PLC | ACN | 11,867 | $2.9M | 0.71% |
| 41 | Assured Guaranty Ltd | AGO | 34,282 | $2.9M | 0.71% |
| 42 | Nvidia Corp | NVDA | 15,500 | $2.9M | 0.71% |
| 43 | Installed Bldg Prods Inc | 45780R101 | 11,720 | $2.9M | 0.71% |
| 44 | Janus International Group IN | JBI | 278,725 | $2.8M | 0.67% |
| 45 | Tetra Tech Inc | TTEK | 80,787 | $2.7M | 0.66% |
| 46 | Federal Agric Mtg Corp Cl C | 313148306 | 15,539 | $2.6M | 0.64% |
| 47 | Murphy USA Inc. | MUSA | 6,714 | $2.6M | 0.64% |
| 48 | Seaboard Corp | SE | 711 | $2.6M | 0.63% |
| 49 | Suncor Energy Inc | SU | 61,999 | $2.6M | 0.63% |
| 50 | BWX Technologies Inc | BWXT | 13,701 | $2.5M | 0.62% |
| 51 | BOK Financial Corp | 05561Q201 | 22,300 | $2.5M | 0.61% |
| 52 | Sun Country Airlines Holding | 866683105 | 209,432 | $2.5M | 0.60% |
| 53 | AbbVie Inc | ABBV | 10,423 | $2.4M | 0.59% |
| 54 | Meta Platforms Inc | META | 3,218 | $2.4M | 0.58% |
| 55 | Meta Platforms Inc | META | 3,200 | $2.4M | 0.57% |
| 56 | Citigroup Inc | C-PR | 22,032 | $2.2M | 0.55% |
| 57 | Accenture PLC | ACN | 9,000 | $2.2M | 0.54% |
| 58 | EPAM Systems Inc | EPAM | 14,686 | $2.2M | 0.54% |
| 59 | Bruker Corp | BRKRP | 68,000 | $2.2M | 0.54% |
| 60 | Shift 4 Payments Inc. Cl A | 82452J109 | 28,406 | $2.2M | 0.54% |
| 61 | Zoetis Inc | ZTS | 14,883 | $2.2M | 0.53% |
| 62 | Net Lease Office Properties | NLOP | 72,336 | $2.1M | 0.52% |
| 63 | Worthington Inc | WOR | 38,581 | $2.1M | 0.52% |
| 64 | National Fuel Gas Co NJ | NFG | 23,114 | $2.1M | 0.52% |
| 65 | MetLife Inc | MET-PF | 25,273 | $2.1M | 0.51% |
| 66 | SI-BONE Inc | SIBN | 141,222 | $2.1M | 0.51% |
| 67 | 1st Source Corp | SRCE | 33,308 | $2.1M | 0.50% |
| 68 | Citigroup Inc | C-PR | 19,500 | $2.0M | 0.48% |
| 69 | Amazon.com Inc | AMZN | 9,000 | $2.0M | 0.48% |
| 70 | Alphabet Inc | GOOG | 8,000 | $1.9M | 0.47% |
| 71 | Alphabet Inc | GOOG | 8,000 | $1.9M | 0.47% |
| 72 | Supernus Pharmaceuticals Inc. | SUPN | 40,251 | $1.9M | 0.47% |
| 73 | Johnson & Johnson | JNJ | 10,000 | $1.9M | 0.45% |
| 74 | MPLX LP | MPLXP | 35,906 | $1.8M | 0.44% |
| 75 | Encompass Health Corp | EHC | 13,859 | $1.8M | 0.43% |
| 76 | Ingles Markets Inc. - Class A | 457030104 | 25,065 | $1.7M | 0.43% |
| 77 | NewMarket Corp | NEU | 2,088 | $1.7M | 0.42% |
| 78 | Booking Holdings Inc | BKNG | 294 | $1.6M | 0.39% |
| 79 | NIKE Inc | NKE | 22,495 | $1.6M | 0.38% |
| 80 | Baker Hughes Co | BKR | 32,155 | $1.6M | 0.38% |
| 81 | Salesforce Inc | CRM | 6,597 | $1.6M | 0.38% |
| 82 | Bank of America Corp | 060505104 | 30,255 | $1.6M | 0.38% |
| 83 | Tidewater Inc | TDGMW | 28,980 | $1.5M | 0.38% |
| 84 | AMBAC Financial Group, Inc. | OSG | 180,089 | $1.5M | 0.37% |
| 85 | Globus Med Inc Cl A | GMED | 25,483 | $1.5M | 0.36% |
| 86 | Visa Inc | V | 4,239 | $1.4M | 0.35% |
| 87 | JFrog Ltd | FROG | 30,503 | $1.4M | 0.35% |
| 88 | 3M Co | MMM | 9,209 | $1.4M | 0.35% |
| 89 | Home Depot Inc/The | HD | 3,516 | $1.4M | 0.35% |
| 90 | Autodesk Inc | ADSK | 4,470 | $1.4M | 0.35% |
| 91 | Bank of America Corp | 060505104 | 27,500 | $1.4M | 0.35% |
| 92 | Charles Schwab Corp/The | SCHW-PJ | 14,785 | $1.4M | 0.34% |
| 93 | ServiceNow Inc | NOW | 1,519 | $1.4M | 0.34% |
| 94 | TJX Cos Inc/The | 872540109 | 9,595 | $1.4M | 0.34% |
| 95 | Proficient Auto Logistics Inc | PAL | 201,058 | $1.4M | 0.34% |
| 96 | ServiceNow Inc | NOW | 1,500 | $1.4M | 0.34% |
| 97 | Visa Inc | V | 4,000 | $1.4M | 0.33% |
| 98 | BRP INC/CA- Sub-Voting | DOO | 22,193 | $1.3M | 0.33% |
| 99 | Nvidia Corp | NVDA | 7,000 | $1.3M | 0.32% |
| 100 | PPG Industries Inc | 693506107 | 12,361 | $1.3M | 0.32% |
| 101 | Baker Hughes Co | BKR | 26,300 | $1.3M | 0.31% |
| 102 | Salesforce Inc | CRM | 5,300 | $1.3M | 0.31% |
| 103 | NIKE Inc | NKE | 18,000 | $1.3M | 0.31% |
| 104 | FedEx Corp | FDX | 5,101 | $1.2M | 0.29% |
| 105 | Deere & Co | DE | 2,592 | $1.2M | 0.29% |
| 106 | Uber Technologies Inc | UBER | 12,096 | $1.2M | 0.29% |
| 107 | Zoetis Inc | ZTS | 8,000 | $1.2M | 0.29% |
| 108 | AbbVie Inc | ABBV | 5,000 | $1.2M | 0.28% |
| 109 | Starbucks Corp | SBUX | 13,386 | $1.1M | 0.28% |
| 110 | BBB Foods Inc | TBBB | 40,500 | $1.1M | 0.27% |
| 111 | Align Technology Inc | ALGN | 8,692 | $1.1M | 0.27% |
| 112 | Booking Holdings Inc | BKNG | 200 | $1.1M | 0.26% |
| 113 | AstraZeneca PLC | AZN | 13,987 | $1.1M | 0.26% |
| 114 | KKR & Co Inc Cl A | KKRT | 7,880 | $1.0M | 0.25% |
| 115 | Ollie's Bargain Outlet Holding | 681116109 | 7,970 | $1.0M | 0.25% |
| 116 | Arcos Dorados Holdings Inc. -A | ARCO | 151,000 | $1.0M | 0.25% |
| 117 | Uber Technologies Inc | UBER | 10,000 | $979,700 | 0.24% |
| 118 | Tyson Foods Inc | TSN | 17,678 | $959,915 | 0.23% |
| 119 | MPLX LP | MPLXP | 19,100 | $954,045 | 0.23% |
| 120 | Align Technology Inc | ALGN | 7,500 | $939,150 | 0.23% |
| 121 | Workday Inc | WDAY | 3,835 | $923,200 | 0.23% |
| 122 | Adobe Inc | ADBE | 2,502 | $882,580 | 0.22% |
| 123 | Masco Corp | MAS | 12,465 | $877,411 | 0.21% |
| 124 | Deere & Co | DE | 1,900 | $868,794 | 0.21% |
| 125 | Mr Cooper Group Inc | 62482R107 | 3,917 | $825,664 | 0.20% |
| 126 | 3M Co | MMM | 5,000 | $775,900 | 0.19% |
| 127 | EPAM Systems Inc | EPAM | 5,000 | $753,950 | 0.18% |
| 128 | Nomad Foods LTD | NOMD | 55,900 | $735,085 | 0.18% |
| 129 | Medtronic PLC | MDT | 7,459 | $710,395 | 0.17% |
| 130 | PayPal Holdings Inc | PYPL | 10,592 | $710,300 | 0.17% |
| 131 | Adobe Inc | ADBE | 2,000 | $705,500 | 0.17% |
| 132 | UnitedHealth Group Inc | UNH | 2,000 | $690,600 | 0.17% |
| 133 | Globant SA | GLOB | 11,700 | $671,346 | 0.16% |
| 134 | Starbucks Corp | SBUX | 7,800 | $659,880 | 0.16% |
| 135 | Broadcom Inc | AVGO | 2,000 | $659,820 | 0.16% |
| 136 | Wabash National Corp | 929566107 | 66,306 | $654,440 | 0.16% |
| 137 | Deckers Outdoor Corp. | DECK | 6,375 | $646,234 | 0.16% |
| 138 | 3M Co | MMM | 4,000 | $620,720 | 0.15% |
| 139 | Deckers Outdoor Corp. | DECK | 6,000 | $608,220 | 0.15% |
| 140 | Genuine Parts Co | GPC | 4,014 | $556,340 | 0.14% |
| 141 | Wix.com Ltd | WIX | 3,000 | $532,890 | 0.13% |
| 142 | Keurig Dr Pepper Inc | KDP | 20,000 | $510,200 | 0.12% |
| 143 | Ionis Pharmaceuticals Inc | IONS | 7,500 | $490,650 | 0.12% |
| 144 | Linde PLC Shs | LIN | 968 | $459,800 | 0.11% |
| 145 | Teradyne Inc | TER | 3,100 | $426,684 | 0.10% |
| 146 | Vail Resorts Inc | MTN | 2,844 | $425,377 | 0.10% |
| 147 | United Homes Group Inc. CL A | UHGWW | 100,000 | $413,000 | 0.10% |
| 148 | JPMorgan Chase & Co | VYLD | 1,215 | $383,247 | 0.09% |
| 149 | Simon Property Group Inc | 828806109 | 1,988 | $373,088 | 0.09% |
| 150 | Globus Med Inc Cl A | GMED | 6,500 | $372,255 | 0.09% |
| 151 | Garmin Ltd | GRMN | 1,510 | $371,792 | 0.09% |
| 152 | First Interstate Bancsys-A | 32055Y201 | 11,501 | $366,537 | 0.09% |
| 153 | Axsome Therapeutics Inc. | AXSM | 3,000 | $364,350 | 0.09% |
| 154 | Comcast Corp | CCZ | 11,376 | $357,434 | 0.09% |
| 155 | Boston Properties Inc | BXP | 4,728 | $351,480 | 0.09% |
| 156 | Advanced Micro Devices Inc | AMD | 2,099 | $339,597 | 0.08% |
| 157 | Tesla Inc | TSLA | 700 | $311,304 | 0.08% |
| 158 | Advanced Micro Devices Inc | AMD | 1,900 | $307,401 | 0.07% |
| 159 | Mondelez International Inc | 609207105 | 4,900 | $306,103 | 0.07% |
| 160 | CVS Health Corp | CVS | 4,000 | $301,560 | 0.07% |
| 161 | LyondellBasell Industries NV | LYB | 6,000 | $294,240 | 0.07% |
| 162 | American Intl Group Inc | 026874784 | 3,594 | $282,273 | 0.07% |
| 163 | Avery Dennison Corp | AVY | 1,738 | $281,851 | 0.07% |
| 164 | Vanguard Total Stock Market In | 922908769 | 797 | $261,551 | 0.06% |
| 165 | Texas Instruments Inc | 882508104 | 1,353 | $248,587 | 0.06% |
| 166 | Northwestern Energy Group Inc | NWE | 4,233 | $248,096 | 0.06% |
| 167 | Etoro Group LTD-A | ETOR | 6,000 | $247,620 | 0.06% |
| 168 | Wesco Intl Inc | 95082P105 | 1,146 | $242,379 | 0.06% |
| 169 | SPDR S&P 500 ETF Trust | SPY | 166 | $110,586 | 0.03% |
| 170 | Nvidia Corp | NVDA | 577 | $107,664 | 0.03% |
| 171 | SEMrush Holdings Inc | SEMR | 12,249 | $86,723 | 0.02% |
| 172 | Tesla Inc | TSLA | 26 | $11,563 | 0.00% |
| 173 | Broadcom Inc | AVGO | 28 | $9,237 | 0.00% |
| 174 | UnitedHealth Group Inc | UNH | 4 | $1,381 | 0.00% |