VELA Investment Management, LLC

In its 13F for Q2 2024 (holdings as of June 30, 2024, filed August 5, 2024), VELA Investment Management, LLC reported 141 stock positions worth $282.5 million. Its top holding was Kirby (KEX) at 5.0% of the portfolio, followed by Berkshire Hathaway Class B (BRK.B, 3.8%) and Hub Class A (HUBG, 3.6%). Compared with Q1 2024, it opened 12 new positions, sold out of 13, added to 63 and reduced 30. The biggest buy was a new position in Coca-Cola Consolidated (COKE) and the biggest sale an exit from Nutanix Class A (NTNX).

Most Recent 13F
Q2 2026
Location
NEW ALBANY, OH
CIK
0001895612
Portfolio Value
$282.5M (Q2 2024)
SEC Filing
0001895612-24-000006 ↗ filed Aug 5, 2024

Holdings Value

0$100.0M$200.0M$300.0M$400.0M$500.0M Q1 2024: $271.6M Q1 2024 Q2 2024: $282.5M $282.5M Q2 2024 Q3 2024: $292.5M Q3 2024 Q4 2024: $292.4M Q4 2024 Q1 2025: $291.4M Q1 2025 Q2 2025: $336.4M Q2 2025 Q3 2025: $347.1M Q3 2025 Q4 2025: $367.1M Q4 2025 Q1 2026: $386.6M Q1 2026 Q2 2026: $406.5M Q2 2026

Holdings 141 stocks · $282.5M
KEX Kirby Corp. 5.03% 118,792 $14.2M Reduce -16.8%
BRK.B Berkshire Hathaway Inc. Class B 3.83% 26,621 $10.8M Reduce -4.1%
HUBG Hub Group Inc. Class A 3.64% 239,183 $10.3M Add +9.6%
GOOGL Alphabet Inc. Class A 3.42% 53,087 $9.7M Reduce -2.0%
GHC Graham Holdings Co. Class B 2.44% 9,839 $6.9M Add +13.7%
CIVI Civitas Resources Inc. 2.35% 96,065 $6.6M Add +8.5%
GBX Greenbrier Companies Inc. 2.30% 131,371 $6.5M Reduce -14.3%
AIT Applied Industrial Tech Inc. 1.78% 25,936 $5.0M Add +11.1%
ASH Ashland Inc. 1.68% 50,251 $4.7M Add +0.5%
SYY Sysco Corp. 1.64% 64,721 $4.6M Add +2.0%
JNJ Johnson & Johnson 1.63% 31,434 $4.6M Add +212.4%
ACGL Arch Capital Group Ltd. 1.59% 44,627 $4.5M Reduce -2.0%
COKE Coca-Cola Consolidated Inc. 1.57% 4,088 $4.4M New
DIS The Walt Disney Co. filed as DISNEY WALT CO 1.49% 42,375 $4.2M Reduce -4.3%
MDT Medtronic PLC 1.42% 51,037 $4.0M Add +24.5%
WNC Wabash National Corp. 1.41% 182,102 $4.0M Add +18.9%
MSFT Microsoft Corp. 1.35% 8,511 $3.8M Reduce -0.2%
CASY Casey's General Stores Inc. 1.34% 9,954 $3.8M Reduce -35.5%
AMZN Amazon.com Inc. 1.34% 19,532 $3.8M Add +33.4%
SBUX Starbucks Corp. 1.30% 47,097 $3.7M Add +51.2%
NOC Northrop Grumman Corp. 1.29% 8,381 $3.7M Reduce -1.2%
CRTO Criteo SA-Spon 1.29% 96,845 $3.7M Reduce -2.5%
LECO Lincoln Electric Holdings 1.25% 18,678 $3.5M Add +235.3%
HUM Humana Inc. 1.20% 9,069 $3.4M Reduce -29.2%
AXS Axis Capital Holdings Ltd. 1.17% 46,619 $3.3M Reduce -6.0%
EHC Encompass Health Corp. 1.11% 36,652 $3.1M Reduce -5.6%
AGI Alamos Gold Inc. Class A 1.08% 195,357 $3.1M No change
SU Suncor Energy Inc. 1.06% 78,328 $3.0M Add +0.9%
FROG Jfrog Ltd. 1.04% 78,545 $2.9M Add +39.2%
FIS Fidelity National Info Serv 1.02% 38,300 $2.9M Reduce -11.7%
RRC Range Resources Corp. 0.97% 81,824 $2.7M Reduce -8.1%
CPA Copa Holdings SA Class A 0.96% 28,376 $2.7M Add +84.8%
MAMA Mama's Creations Inc. 0.92% 387,152 $2.6M Add +87.9%
BWXT BWX Technologies Inc. 0.92% 27,331 $2.6M Add +16.4%
ABT Abbott Laboratories 0.91% 24,831 $2.6M Add +9.1%
SEB Seaboard Corp. 0.90% 807 $2.6M Add +173.6%
BATRK Atlanta Braves Holdings in-C 0.90% 64,378 $2.5M Add +3.5%
PFGC Performance Food Group Co. 0.90% 38,378 $2.5M Add +12.8%
ADSK Autodesk Inc. 0.87% 9,885 $2.4M Add +155.9%
ABBV Abbvie Inc. 0.86% 14,097 $2.4M Add +7.8%
WEN The Wendy's Co. 0.85% 141,642 $2.4M No change
AAPL Apple Inc. 0.84% 11,239 $2.4M Add +0.0%
MO Altria Group Inc. 0.81% 50,093 $2.3M New
TDW Tidewater Inc. 0.75% 22,249 $2.1M Reduce -0.6%
T AT&T Inc. 0.75% 110,595 $2.1M New
META Meta Platforms Inc. Class A 0.74% 4,144 $2.1M Add +1.3%
ZBRA Zebra Technologies Corp. Class A 0.73% 6,667 $2.1M Add +0.4%
SRCE 1ST Source Corp. 0.72% 37,774 $2.0M No change
FLO Flowers Foods Inc. 0.69% 88,432 $2.0M Add +4.4%
CNM Core & Main Inc. Class A 0.69% 39,634 $1.9M No change
HII Huntington Ingalls Industrie 0.67% 7,709 $1.9M Add +35.7%
TER Teradyne Inc. 0.66% 12,669 $1.9M Reduce -25.6%
VVV Valvoline Inc. 0.65% 42,704 $1.8M No change
AGO Assured Guaranty Ltd. 0.64% 23,398 $1.8M Add +14.9%
BKR Baker Hughes Co. 0.61% 49,137 $1.7M Add +1.6%
SCHW Schwab (charles) Corp. 0.61% 23,344 $1.7M Reduce -37.7%
LNTH Lantheus Holdings Inc. 0.61% 21,392 $1.7M No change
BOKF Bok Financial Corporation 0.60% 18,542 $1.7M No change
MTN Vail Resorts Inc. 0.58% 9,155 $1.6M Reduce -27.1%
FDX FedEx Corp. 0.58% 5,453 $1.6M No change
JBHT Hunt (jb) Transprt SVCS Inc. 0.56% 9,819 $1.6M Add +152.9%
CRM Salesforce Inc. 0.55% 6,065 $1.6M Add +16.2%
ZTS Zoetis Inc. 0.55% 8,916 $1.5M New
ESGR Enstar Group Ltd. 0.54% 4,998 $1.5M Add +110.0%
TTEK Tetra Tech Inc. 0.53% 7,278 $1.5M Add +10.6%
PEP Pepsico Inc. 0.52% 8,934 $1.5M Add +7.7%
ET Energy Transfer LP 0.52% 90,407 $1.5M No change
HLI Houlihan Lokey Inc. 0.51% 10,778 $1.5M No change
SIBN Si-Bone Inc. 0.51% 112,088 $1.4M Add +46.7%
NOW ServiceNow Inc. 0.50% 1,809 $1.4M No change
C Citigroup Inc. 0.50% 22,299 $1.4M Add +1.1%
KHC The Kraft Heinz Co. 0.50% 43,770 $1.4M Add +11.4%
WIX Wix.com Ltd. 0.50% 8,823 $1.4M Add +29.5%
ACN Accenture PLC Class A 0.49% 4,560 $1.4M Add +23.9%
MET Metlife Inc. 0.49% 19,539 $1.4M Add +11.4%
MCHP Microchip Technology Inc. 0.48% 14,896 $1.4M No change
EPD Enterprise Products Partners 0.48% 46,541 $1.3M Reduce -17.6%
MMM 3M Co. 0.48% 13,195 $1.3M Add +23.9%
TJX TJX Companies Inc. filed as TJX COS INC NEW 0.45% 11,474 $1.3M No change
ADBE Adobe Inc. 0.45% 2,267 $1.3M No change
NKE Nike Inc. Class B 0.45% 16,708 $1.3M Add +372.5%
PRCT Procept Biorobotics Corp. 0.44% 20,487 $1.3M No change
BSX Boston Scientific Corp. 0.44% 16,184 $1.2M No change
AZN Astrazeneca PLC-Spons ADR 0.43% 15,533 $1.2M No change
BAC Bank of America Corp. filed as BANK AMERICA CORP 0.43% 30,392 $1.2M No change
TMUS T-Mobile US Inc. 0.42% 6,765 $1.2M Add +15.1%
NVST Envista Holdings Corp. 0.41% 69,812 $1.2M Add +12.7%
GS Goldman Sachs Group Inc. 0.41% 2,564 $1.2M Add +10.7%
CNP Centerpoint Energy Inc. 0.41% 37,165 $1.2M Add +10.6%
HD Home Depot Inc. 0.41% 3,333 $1.1M Reduce -17.4%
V Visa Inc. Class A 0.41% 4,360 $1.1M No change
CSX CSX Corp. 0.40% 33,552 $1.1M Add +3.2%
AR Antero Resources Corp. 0.36% 31,328 $1.0M Add +38.4%
OLLI Ollie's Bargain Outlet Holdi 0.35% 9,984 $980K Reduce -21.3%
JBSS John B. Sanfilippo & Son Inc. filed as SANFILIPPO JOHN B & SON INC 0.34% 9,989 $971K Add +20.1%
TRMK Trustmark Corp. 0.31% 29,537 $887K Reduce -15.7%
BKNG Booking Holdings Inc. 0.30% 216 $856K Add +2.4%
MPLX MPLX LP 0.30% 19,768 $842K Add +145.9%
DE Deere & Co. 0.29% 2,206 $824K Add +1.9%
PYPL PayPal Holdings Inc. 0.28% 13,605 $789K Add +15.3%
WFC Wells Fargo & Co. 0.24% 11,599 $689K Reduce -41.1%
MRVI Maravai Lifesciences Hldgs-A 0.24% 95,866 $686K Add +29.0%
UBER Uber Technologies Inc. 0.22% 8,702 $632K Add +15.4%
AMN Amn Healthcare Services Inc. 0.22% 12,190 $624K New
ELV Elevance Health Inc. 0.20% 1,029 $558K No change
SMAR Smartsheet Inc. Class A 0.19% 12,291 $542K No change
COOP Mr Cooper Group Inc. 0.18% 6,146 $499K No change
BHVN Biohaven Ltd. 0.17% 13,958 $484K Add +10.2%
IFNNY Infineon Technologies-ADR 0.17% 12,779 $471K New
LYB Lyondellbasell Indu Class A 0.16% 4,839 $463K Add +33.1%
A Agilent Technologies Inc. 0.16% 3,508 $455K Add +147.2%
RCKT Rocket Pharmaceuticals Inc. 0.16% 20,773 $447K No change
NSC Norfolk Southern Corp. 0.16% 2,058 $442K Add +14.1%
LIN Linde PLC 0.16% 1,004 $441K Reduce -40.9%
GPC Genuine Parts Co. 0.15% 3,124 $432K Add +26.9%
NWE Northwestern Energy Group Inc. 0.15% 8,237 $413K No change
CMCSA Comcast Corp. Class A 0.14% 10,255 $402K No change
ONTO Onto Innovation Inc. 0.13% 1,683 $370K No change
WDAY Workday Inc. Class A 0.13% 1,627 $364K No change
AVY Avery Dennison Corp. 0.13% 1,651 $361K Reduce -52.2%
TBBB BBB Foods Inc. Class A 0.13% 15,000 $358K New
ROIV Roivant Sciences Ltd. 0.12% 32,386 $342K No change
JPM JPMorgan Chase & Co. 0.12% 1,675 $339K Reduce -37.4%
TSN Tyson Foods Inc. Class A 0.12% 5,919 $338K New
JCI Johnson Controls Internation 0.11% 4,824 $321K No change
OMC Omnicom Group 0.11% 3,447 $309K No change
TXN Texas Instruments Inc. 0.10% 1,523 $296K Reduce -56.8%
MDLZ Mondelez International Inc. Class A 0.10% 4,311 $282K No change
EPAM Epam Systems Inc. 0.10% 1,469 $276K New
AIG American International Group 0.09% 3,594 $267K No change
KO The Coca-Cola Co. 0.09% 4,183 $266K Add +8.4%
SPG Simon Property Group Inc. 0.09% 1,734 $263K Reduce -59.0%
CMPR Cimpress PLC 0.09% 2,987 $262K No change
CFR Cullen/Frost Bankers Inc. 0.09% 2,514 $255K Reduce -35.8%
INDV Indivior Ltd. 0.08% 15,000 $235K New
WCC Wesco International Inc. 0.08% 1,480 $235K No change
MCY Mercury General Corp. 0.08% 4,397 $234K No change
KKR KKR & Co. Inc. 0.07% 2,009 $211K No change
ELAN Elanco Animal Health Inc. 0.07% 13,683 $197K New
NVDA Nvidia Corp. 0.03% 653 $81K Add +18.7%
FRACF Foraco International SA 0.01% 17,829 $31K New

Options reported separately and not counted above: SOXX calls ($5.5M), NOW puts ($5.5M), MSFT puts ($4.0M), GOOGL puts ($2.7M), BAC puts ($2.1M), C puts ($1.9M), ET puts ($1.8M), FDX puts ($1.5M), AAPL puts ($1.4M), CRWD puts ($1.3M), ADBE puts ($1.2M), EPD puts ($1.2M), and 11 more.

Portfolio Sells Q1 2024 → Q2 2024
NTNX Nutanix Inc. Class A Sold out 0.00% −0.94
UHAL.B U-Haul Holding Co.-Non Voting Sold out 0.00% −0.70
PZZA Papa John's Intl Inc. Sold out 0.00% −0.66
GBX Greenbrier Companies Inc. Reduce -14.3% 2.30% −0.64
DIS The Walt Disney Co. Reduce -4.3% 1.49% −0.51
IWN iShares Russell 2000 Value E Sold out 0.00% −0.48
BRK.B Berkshire Hathaway Inc. Class B Reduce -4.1% 3.83% −0.47
CASY Casey's General Stores Inc. Reduce -35.5% 1.34% −0.46
MTN Vail Resorts Inc. Reduce -27.1% 0.58% −0.45
RPM RPM International Inc. Sold out 0.00% −0.44
HUM Humana Inc. Reduce -29.2% 1.20% −0.44
SWAV Shockwave Medical Inc. Sold out 0.00% −0.41
NHC National Healthcare Corp. Sold out 0.00% −0.40
NVR NVR Inc. Sold out 0.00% −0.40
SCHW Schwab (charles) Corp. Reduce -37.7% 0.61% −0.39
MBUU Malibu Boats Inc. Class A Sold out 0.00% −0.37
NOC Northrop Grumman Corp. Reduce -1.2% 1.29% −0.20
WFC Wells Fargo & Co. Reduce -41.1% 0.24% −0.18
PII Polaris Inc. Sold out 0.00% −0.17
HD Home Depot Inc. Reduce -17.4% 0.41% −0.16
FIS Fidelity National Info Serv Reduce -11.7% 1.02% −0.16
RRC Range Resources Corp. Reduce -8.1% 0.97% −0.16
AVY Avery Dennison Corp. Reduce -52.2% 0.13% −0.16
SPG Simon Property Group Inc. Reduce -59.0% 0.09% −0.15
O Realty Income Corp. Sold out 0.00% −0.14
LIN Linde PLC Reduce -40.9% 0.16% −0.13
EPD Enterprise Products Partners Reduce -17.6% 0.48% −0.13
AMGN Amgen Inc. Sold out 0.00% −0.12
TXN Texas Instruments Inc. Reduce -56.8% 0.10% −0.12
JPM JPMorgan Chase & Co. Reduce -37.4% 0.12% −0.08
CFR Cullen/Frost Bankers Inc. Reduce -35.8% 0.09% −0.07
EHC Encompass Health Corp. Reduce -5.6% 1.11% −0.07
TRMK Trustmark Corp. Reduce -15.7% 0.31% −0.05
TER Teradyne Inc. Reduce -25.6% 0.66% −0.04
QQQ Invesco QQQ Trust Series 1 Sold out 0.00% −0.02
OLLI Ollie's Bargain Outlet Holdi Reduce -21.3% 0.35% −0.02
AXS Axis Capital Holdings Ltd. Reduce -6.0% 1.17% −0.02
TDW Tidewater Inc. Reduce -0.6% 0.75% −0.01
CRTO Criteo SA-Spon Reduce -2.5% 1.29% +0.01
KEX Kirby Corp. Reduce -16.8% 5.03% +0.02
MSFT Microsoft Corp. Reduce -0.2% 1.35% +0.03
ACGL Arch Capital Group Ltd. Reduce -2.0% 1.59% +0.04
GOOGL Alphabet Inc. Class A Reduce -2.0% 3.42% +0.41

Portfolio Buys Q1 2024 → Q2 2024
COKE Coca-Cola Consolidated Inc. New 1.57% +1.57
JNJ Johnson & Johnson Add +212.4% 1.63% +1.04
MO Altria Group Inc. New 0.81% +0.81
T AT&T Inc. New 0.75% +0.75
LECO Lincoln Electric Holdings Add +235.3% 1.25% +0.72
SEB Seaboard Corp. Add +173.6% 0.90% +0.55
ZTS Zoetis Inc. New 0.55% +0.55
MAMA Mama's Creations Inc. Add +87.9% 0.92% +0.54
ADSK Autodesk Inc. Add +155.9% 0.87% +0.50
CPA Copa Holdings SA Class A Add +84.8% 0.96% +0.37
AMZN Amazon.com Inc. Add +33.4% 1.34% +0.36
NKE Nike Inc. Class B Add +372.5% 0.45% +0.32
JBHT Hunt (jb) Transprt SVCS Inc. Add +152.9% 0.56% +0.27
ESGR Enstar Group Ltd. Add +110.0% 0.54% +0.27
SBUX Starbucks Corp. Add +51.2% 1.30% +0.25
AMN Amn Healthcare Services Inc. New 0.22% +0.22
MPLX MPLX LP Add +145.9% 0.30% +0.17
HUBG Hub Group Inc. Class A Add +9.6% 3.64% +0.17
IFNNY Infineon Technologies-ADR New 0.17% +0.17
WIX Wix.com Ltd. Add +29.5% 0.50% +0.15
AAPL Apple Inc. Add +0.0% 0.84% +0.13
TBBB BBB Foods Inc. Class A New 0.13% +0.13
FROG Jfrog Ltd. Add +39.2% 1.04% +0.13
AR Antero Resources Corp. Add +38.4% 0.36% +0.12
TSN Tyson Foods Inc. Class A New 0.12% +0.12
MDT Medtronic PLC Add +24.5% 1.42% +0.11
EPAM Epam Systems Inc. New 0.10% +0.10
A Agilent Technologies Inc. Add +147.2% 0.16% +0.08
INDV Indivior Ltd. New 0.08% +0.08
AIT Applied Industrial Tech Inc. Add +11.1% 1.78% +0.08
TTEK Tetra Tech Inc. Add +10.6% 0.53% +0.08
ELAN Elanco Animal Health Inc. New 0.07% +0.07
TMUS T-Mobile US Inc. Add +15.1% 0.42% +0.07
HII Huntington Ingalls Industrie Add +35.7% 0.67% +0.06
MMM 3M Co. Add +23.9% 0.48% +0.06
CNP Centerpoint Energy Inc. Add +10.6% 0.41% +0.06
GS Goldman Sachs Group Inc. Add +10.7% 0.41% +0.05
SIBN Si-Bone Inc. Add +46.7% 0.51% +0.05
BWXT BWX Technologies Inc. Add +16.4% 0.92% +0.03
LYB Lyondellbasell Indu Class A Add +33.1% 0.16% +0.03
BKNG Booking Holdings Inc. Add +2.4% 0.30% +0.02
ACN Accenture PLC Class A Add +23.9% 0.49% +0.02
JBSS John B. Sanfilippo & Son Inc. Add +20.1% 0.34% +0.02
BKR Baker Hughes Co. Add +1.6% 0.61% +0.02
GPC Genuine Parts Co. Add +26.9% 0.15% +0.01
FRACF Foraco International SA New 0.01% +0.01
NVDA Nvidia Corp. Add +18.7% 0.03% +0.01
UBER Uber Technologies Inc. Add +15.4% 0.22% +0.01
META Meta Platforms Inc. Class A Add +1.3% 0.74% +0.01
KO The Coca-Cola Co. Add +8.4% 0.09% +0.01

Options Activity Q1 2024 → Q2 2024
SOXX iShares Semiconductor ETF call New 22,500 $5.5M
NOW ServiceNow Inc. put Add +40.0% 7,000 $5.5M
MSFT Microsoft Corp. put Add +50.0% 9,000 $4.0M
GOOGL Alphabet Inc. Class A put Add +150.0% 15,000 $2.7M
BAC Bank of America Corp. put Add +133.3% 52,500 $2.1M
AMZN Amazon.com Inc. call Sold out 11,000 $2.0Mbefore exit
C Citigroup Inc. put Add +140.0% 30,000 $1.9M
QQQ Invesco QQQ Trust Series 1 call Sold out 4,000 $1.8Mbefore exit
AAPL Apple Inc. put New 6,500 $1.4M
CRWD CrowdStrike Holdings Inc. Class A put New 3,500 $1.3M
EPD Enterprise Products Partners put New 40,000 $1.2M
WFC Wells Fargo & Co. put Add +80.0% 18,000 $1.1M
NTNX Nutanix Inc. Class A put Sold out 17,000 $1.0Mbefore exit
ACN Accenture PLC Class A put New 3,400 $1.0M
SU Suncor Energy Inc. put New 27,000 $1.0M
META Meta Platforms Inc. Class A put New 2,000 $1.0M
BKR Baker Hughes Co. put New 25,000 $879K
SCHW Schwab (charles) Corp. put Sold out 11,000 $796Kbefore exit
NVDA Nvidia Corp. call Reduce -53.9% 6,000 $741K
CRM Salesforce Inc. put Reduce -28.6% 2,500 $643K
CNM Core & Main Inc. Class A put New 13,000 $636K
DE Deere & Co. put New 1,600 $598K
SMAR Smartsheet Inc. Class A put Add +20.0% 12,000 $529K
LNWO Light & Wonder Inc. put Sold out 5,000 $510Kbefore exit

Calls and puts are listed by the shares they cover; their value is not part of the stock holdings above.

All Filings

QuarterPositions13F Reported ValueTop Holdings
Q2 2026Amended 131$406.5MKEX, CRTO, WOR, GOOGL, BRK.B
Q1 2026Amended 133$386.6MKEX, CRTO, BRK.B, WIX, WOR
Q4 2025Amended 130$367.1MKEX, HUBG, BRK.B, GOOGL, CRTO
Q3 2025 131$347.1MKEX, BRK.B, HUBG, GOOGL, WIX
Q2 2025 132$336.4MKEX, BRK.B, HUBG, GOOGL, CRTO
Q1 2025 130$291.4MKEX, BRK.B, HUBG, GHC, GOOGL
Q4 2024 137$292.4MKEX, HUBG, GOOGL, BRK.B, GHC
Q3 2024 137$292.5MKEX, HUBG, BRK.B, GOOGL, GHC
Q2 2024 141$282.5MKEX, BRK.B, HUBG, GOOGL, GHC
Q1 2024 142$271.6MKEX, BRK.B, HUBG, GOOGL, GBX