# VELA Investment Management, LLC

> Institutional holdings reported to the SEC as of Q2 2026 on Form 13F. CIK 1895612. Source: https://holderbook.com/funds/1895612-vela-investment-management-llc/

- Reported value: $467.7M
- Positions: 143
- Weight of the ten largest: 27.3%
- Filed: 2026-08-03

A 13F reports long US equity positions only. Short positions, bonds, foreign listings, private holdings and cash are not visible, so this is not the manager's whole book.

## Holdings

| Security | Ticker | Value | Shares | Weight | Quarters held |
|---|---|---|---|---|---|
| KIRBY CORP | [KEX](https://holderbook.com/stocks/KEX/) | $17.7M | 130,543 | 3.8% | 19 |
| ALPHABET INC | [GOOGL](https://holderbook.com/stocks/GOOGL/) | $14.9M | 33,113 | 3.2% | 19 |
| ISHARES TR | [SOXX](https://holderbook.com/stocks/SOXX/) | $14.4M | 0 | 3.1% | 1 |
| CRITEO S A | [CRTO](https://holderbook.com/stocks/CRTO/) | $14.2M | 777,671 | 3.0% | 14 |
| WORTHINGTON ENTERPRISES INC | [WOR](https://holderbook.com/stocks/WOR/) | $12.3M | 228,927 | 2.6% | 7 |
| AMAZON COM INC | [AMZN](https://holderbook.com/stocks/AMZN/) | $12.1M | 40,856 | 2.6% | 12 |
| BERKSHIRE HATHAWAY INC DEL | [BRKB](https://holderbook.com/stocks/BRKB/) | $11.8M | 23,618 | 2.5% | 19 |
| HUB GROUP INC | [HUBG](https://holderbook.com/stocks/HUBG/) | $11.6M | 265,796 | 2.5% | 19 |
| LINCOLN ELEC HLDGS INC | [LECO](https://holderbook.com/stocks/LECO/) | $9.3M | 34,876 | 2.0% | 12 |
| HENRY JACK & ASSOC INC | [JKHY](https://holderbook.com/stocks/JKHY/) | $9.2M | 66,665 | 2.0% | 3 |
| CSX CORP | [CSX](https://holderbook.com/stocks/CSX/) | $8.8M | 165,693 | 1.9% | 19 |
| JOHNSON & JOHNSON | [JNJ](https://holderbook.com/stocks/JNJ/) | $8.4M | 26,143 | 1.8% | 17 |
| CARLISLE COS INC | [CSL](https://holderbook.com/stocks/CSL/) | $8.3M | 22,942 | 1.8% | 3 |
| CACTUS INC | [WHD](https://holderbook.com/stocks/WHD/) | $7.6M | 149,121 | 1.6% | 7 |
| POOL CORP | [POOL](https://holderbook.com/stocks/POOL/) | $7.3M | 34,067 | 1.6% | 5 |
| MICROSOFT CORP | [MSFT](https://holderbook.com/stocks/MSFT/) | $6.9M | 9,618 | 1.5% | 19 |
| DISNEY WALT CO | [DIS](https://holderbook.com/stocks/DIS/) | $6.6M | 68,580 | 1.4% | 19 |
| ARCH CAP GROUP LTD | [ACGL](https://holderbook.com/stocks/ACGL/) | $6.3M | 64,394 | 1.3% | 19 |
| COPA HOLDINGS SA | [CPA](https://holderbook.com/stocks/CPA/) | $6.2M | 39,972 | 1.3% | 19 |
| BOOKING HOLDINGS INC | [BKNG](https://holderbook.com/stocks/BKNG/) | $6.1M | 23,966 | 1.3% | 14 |
| ZEBRA TECHNOLOGIES CORPORATI | [ZBRA](https://holderbook.com/stocks/ZBRA/) | $5.8M | 22,205 | 1.2% | 2 |
| ATLANTA BRAVES HLDGS INC | [BATRK](https://holderbook.com/stocks/BATRK/) | $5.7M | 109,086 | 1.2% | 12 |
| THERMO FISHER SCIENTIFIC INC | [TMO](https://holderbook.com/stocks/TMO/) | $5.6M | 11,167 | 1.2% | 6 |
| GILDAN ACTIVEWEAR INC | [GIL](https://holderbook.com/stocks/GIL/) | $5.6M | 107,941 | 1.2% | 3 |
| AXIS CAP HLDGS LTD | [AXS](https://holderbook.com/stocks/AXS/) | $5.5M | 51,510 | 1.2% | 19 |
| MURPHY USA INC | [MUSA](https://holderbook.com/stocks/MUSA/) | $5.3M | 9,760 | 1.1% | 5 |
| ENCOMPASS HEALTH CORP | [EHC](https://holderbook.com/stocks/EHC/) | $5.1M | 50,925 | 1.1% | 19 |
| ABBOTT LABORATORIES | [ABT](https://holderbook.com/stocks/ABT/) | $5.0M | 54,892 | 1.1% | 19 |
| INTER PARFUMS INC | [IPAR](https://holderbook.com/stocks/IPAR/) | $4.9M | 44,004 | 1.1% | 2 |
| GRAHAM HLDGS CO | [GHC](https://holderbook.com/stocks/GHC/) | $4.9M | 4,288 | 1.0% | 19 |
| GREENBRIER COS INC | [GBX](https://holderbook.com/stocks/GBX/) | $4.8M | 97,816 | 1.0% | 19 |
| ANTERO RESOURCES CORP | [AR](https://holderbook.com/stocks/AR/) | $4.7M | 134,472 | 1.0% | 10 |
| PEPSICO INC | [PEP](https://holderbook.com/stocks/PEP/) | $4.7M | 34,544 | 1.0% | 19 |
| BRUKER CORP | [BRKR](https://holderbook.com/stocks/BRKR/) | $4.7M | 77,459 | 1.0% | 7 |
| ALIGN TECHNOLOGY INC | [ALGN](https://holderbook.com/stocks/ALGN/) | $4.5M | 22,582 | 1.0% | 7 |
| ALLEGIANT TRAVEL CO | [ALGT](https://holderbook.com/stocks/ALGT/) | $4.5M | 37,934 | 1.0% | 1 |
| MOVADO GROUP INC | [MOV](https://holderbook.com/stocks/MOV/) | $4.4M | 111,318 | 0.9% | 8 |
| PERFORMANCE FOOD GROUP CO | [PFGC](https://holderbook.com/stocks/PFGC/) | $4.3M | 38,902 | 0.9% | 19 |
| VALVOLINE INC | [VVV](https://holderbook.com/stocks/VVV/) | $4.3M | 108,766 | 0.9% | 15 |
| CITIGROUP INC | [C](https://holderbook.com/stocks/C/) | $4.1M | 10,996 | 0.9% | 15 |
| SIMPSON MFG INC | [SSD](https://holderbook.com/stocks/SSD/) | $4.1M | 19,664 | 0.9% | 3 |
| EQUIFAX INC | [EFX](https://holderbook.com/stocks/EFX/) | $4.1M | 25,925 | 0.9% | 2 |
| MSC INDL DIRECT INC | [MSM](https://holderbook.com/stocks/MSM/) | $3.9M | 32,636 | 0.8% | 1 |
| ETSY INC | [ETSY](https://holderbook.com/stocks/ETSY/) | $3.7M | 49,440 | 0.8% | 3 |
| BANK OF AMER CORP | [BAC](https://holderbook.com/stocks/BAC/) | $3.7M | 24,995 | 0.8% | 19 |
| APPLIED INDL TECHNOLOGIES IN | [AIT](https://holderbook.com/stocks/AIT/) | $3.7M | 10,905 | 0.8% | 19 |
| EPAM SYS INC | [EPAM](https://holderbook.com/stocks/EPAM/) | $3.7M | 39,364 | 0.8% | 9 |
| NATIONAL FUEL GAS CO | [NFG](https://holderbook.com/stocks/NFG/) | $3.6M | 46,956 | 0.8% | 6 |
| LIMBACH HLDGS INC | [LMB](https://holderbook.com/stocks/LMB/) | $3.6M | 46,839 | 0.8% | 2 |
| HOULIHAN LOKEY INC | [HLI](https://holderbook.com/stocks/HLI/) | $3.5M | 26,300 | 0.8% | 2 |
| LAMB WESTON HLDGS INC | [LW](https://holderbook.com/stocks/LW/) | $3.5M | 81,692 | 0.8% | 2 |
| PROFICIENT AUTO LOGISTICS IN | [PAL](https://holderbook.com/stocks/PAL/) | $3.5M | 510,840 | 0.7% | 4 |
| FEDERAL AGRIC MTG CORP | [AGM](https://holderbook.com/stocks/AGM/) | $3.4M | 17,308 | 0.7% | 7 |
| METLIFE INC | [MET](https://holderbook.com/stocks/MET/) | $3.4M | 25,028 | 0.7% | 19 |
| SI-BONE INC | [SIBN](https://holderbook.com/stocks/SIBN/) | $3.3M | 201,094 | 0.7% | 19 |
| TORO CO | [TTC](https://holderbook.com/stocks/TTC/) | $3.1M | 31,728 | 0.7% | 3 |
| SUPERNUS PHARMACEUTICALS | [SUPN](https://holderbook.com/stocks/SUPN/) | $3.0M | 64,594 | 0.6% | 4 |
| BAKER HUGHES COMPANY | [BKR](https://holderbook.com/stocks/BKR/) | $2.9M | 31,764 | 0.6% | 19 |
| ASSURED GUARANTY LTD | [AGO](https://holderbook.com/stocks/AGO/) | $2.9M | 35,791 | 0.6% | 19 |
| META PLATFORMS INC | [META](https://holderbook.com/stocks/META/) | $2.8M | 2,768 | 0.6% | 14 |
| PPG INDS INC | [PPG](https://holderbook.com/stocks/PPG/) | $2.8M | 22,960 | 0.6% | 5 |
| BRP INC | [DOO](https://holderbook.com/stocks/DOO/) | $2.8M | 45,333 | 0.6% | 5 |
| TIDEWATER INC NEW | [TDW](https://holderbook.com/stocks/TDW/) | $2.7M | 40,537 | 0.6% | 4 |
| RANGE RES CORP | [RRC](https://holderbook.com/stocks/RRC/) | $2.7M | 71,716 | 0.6% | 18 |
| PROCEPT BIOROBOTICS CORP | [PRCT](https://holderbook.com/stocks/PRCT/) | $2.7M | 117,894 | 0.6% | 3 |
| ESSENT GROUP LTD | [ESNT](https://holderbook.com/stocks/ESNT/) | $2.6M | 41,140 | 0.6% | 2 |
| 3M CO | [MMM](https://holderbook.com/stocks/MMM/) | $2.5M | 7,409 | 0.5% | 10 |
| ACCENTURE PLC IRELAND | [ACN](https://holderbook.com/stocks/ACN/) | $2.3M | 18,276 | 0.5% | 16 |
| SALESFORCE INC | [CRM](https://holderbook.com/stocks/CRM/) | $2.3M | 6,977 | 0.5% | 17 |
| GLOBUS MED INC | [GMED](https://holderbook.com/stocks/GMED/) | $2.3M | 28,534 | 0.5% | 4 |
| ICON PUB LTD CO | [ICLR](https://holderbook.com/stocks/ICLR/) | $2.2M | 12,590 | 0.5% | 2 |
| FEDEX CORP | [FDX](https://holderbook.com/stocks/FDX/) | $2.1M | 2,736 | 0.5% | 17 |
| MAMAS CREATIONS INC | [MAMA](https://holderbook.com/stocks/MAMA/) | $2.1M | 115,414 | 0.4% | 10 |
| SUNCOR ENERGY INC NEW | [SU](https://holderbook.com/stocks/SU/) | $2.0M | 36,792 | 0.4% | 19 |
| INSTALLED BLDG PRODS INC | [IBP](https://holderbook.com/stocks/IBP/) | $1.9M | 8,391 | 0.4% | 6 |
| CORPAY INC | [CPAY](https://holderbook.com/stocks/CPAY/) | $1.9M | 5,782 | 0.4% | 3 |
| OLLIES BARGAIN OUTLET HLDGS | [OLLI](https://holderbook.com/stocks/OLLI/) | $1.9M | 25,047 | 0.4% | 1 |
| COCA COLA CONS INC | [COKE](https://holderbook.com/stocks/COKE/) | $1.9M | 9,874 | 0.4% | 9 |
| COPART INC | [CPRT](https://holderbook.com/stocks/CPRT/) | $1.9M | 66,034 | 0.4% | 1 |
| DECKERS OUTDOOR CORP | [DECK](https://holderbook.com/stocks/DECK/) | $1.8M | 11,200 | 0.4% | 5 |
| BLUE OWL CAPITAL INC | [OWL](https://holderbook.com/stocks/OWL/) | $1.8M | 0 | 0.4% | 2 |
| UBER TECHNOLOGIES INC | [UBER](https://holderbook.com/stocks/UBER/) | $1.7M | 14,246 | 0.4% | 12 |
| BBB FOODS INC | [TBBB](https://holderbook.com/stocks/TBBB/) | $1.7M | 41,600 | 0.4% | 9 |
| AUTODESK INC | [ADSK](https://holderbook.com/stocks/ADSK/) | $1.7M | 5,777 | 0.4% | 12 |
| INGLES MKTS INC | [IMKTA](https://holderbook.com/stocks/IMKTA/) | $1.7M | 19,209 | 0.4% | 5 |
| NOMAD FOODS LTD | [NOMD](https://holderbook.com/stocks/NOMD/) | $1.7M | 153,600 | 0.4% | 8 |
| ZOETIS INC | [ZTS](https://holderbook.com/stocks/ZTS/) | $1.7M | 23,134 | 0.4% | 9 |
| ALAMOS GOLD INC | [AGI](https://holderbook.com/stocks/AGI/) | $1.6M | 53,000 | 0.3% | 15 |
| SPS COMM INC | [SPSC](https://holderbook.com/stocks/SPSC/) | $1.6M | 27,452 | 0.3% | 3 |
| SERVICENOW INC | [NOW](https://holderbook.com/stocks/NOW/) | $1.5M | 9,468 | 0.3% | 14 |
| HOME DEPOT INC | [HD](https://holderbook.com/stocks/HD/) | $1.5M | 4,293 | 0.3% | 19 |
| ROUNDHILL ETF TRUST | - | $1.5M | 0 | 0.3% | 1 |
| VISA INC | [V](https://holderbook.com/stocks/V/) | $1.4M | 4,225 | 0.3% | 19 |
| GLOBANT S A | [GLOB](https://holderbook.com/stocks/GLOB/) | $1.4M | 48,900 | 0.3% | 4 |
| PALANTIR TECHNOLOGIES INC | [PLTR](https://holderbook.com/stocks/PLTR/) | $1.4M | 40 | 0.3% | 1 |
| TOTALENERGIES SE | [TTE](https://holderbook.com/stocks/TTE/) | $1.4M | 18,000 | 0.3% | 3 |
| NETFLIX INC | [NFLX](https://holderbook.com/stocks/NFLX/) | $1.4M | 19,543 | 0.3% | 2 |
| NISOURCE INC | [NI](https://holderbook.com/stocks/NI/) | $1.4M | 28,463 | 0.3% | 3 |
| ARCOS DORADOS HLDGS INC | [ARCO](https://holderbook.com/stocks/ARCO/) | $1.3M | 167,400 | 0.3% | 5 |
| TYSON FOODS INC | [TSN](https://holderbook.com/stocks/TSN/) | $1.2M | 21,558 | 0.3% | 9 |

## What the disclosed book did

Not the fund's return. This is the change in value of the positions disclosed on Form 13F, had they been left untouched, against SPY over the same quarter ends.

| Quarter | Book | Market | Difference | Priced |
|---|---|---|---|---|
| Q2 2026 | +3.3% | +14.8% | -11.5% | 91% |
| Q1 2026 | -1.0% | -4.6% | +3.6% | 90% |
| Q4 2025 | +4.2% | +2.4% | +1.9% | 85% |
| Q3 2025 | +3.5% | +7.8% | -4.3% | 92% |
| Q2 2025 | +3.2% | +10.5% | -7.3% | 92% |
| Q1 2025 | -2.7% | -4.6% | +1.8% | 82% |
| Q4 2024 | -0.7% | +2.1% | -2.9% | 90% |
| Q3 2024 | +5.2% | +5.4% | -0.3% | 90% |

## Quarter by quarter

| Quarter | Value | Positions |
|---|---|---|
| Q2 2026 | $467.7M | 143 |
| Q1 2026 | $436.1M | 143 |
| Q4 2025 | $425.0M | 138 |
| Q3 2025 | $409.9M | 137 |
| Q2 2025 | $368.9M | 133 |
| Q1 2025 | $318.9M | 131 |
| Q4 2024 | $359.0M | 139 |
| Q3 2024 | $324.1M | 137 |
| Q2 2024 | $321.7M | 143 |
| Q1 2024 | $295.0M | 143 |
| Q4 2023 | $261.4M | 146 |
| Q3 2023 | $227.6M | 136 |