VELA Investment Management, LLC

Q3 2025 13F-HR Holdings

Location
New Albany, OH
Holdings as of
9/30/2025
Date filed
10/30/2025
Form type
13F-HR
Num holdings
172
Total value ($000)
$409,939
Net value change ($000)
+41,086 (11.1%)
New positions
12
Sold out positions
13
Turnover %
6.6%
Sector allocation + QoQ delta (equities-only)
Prev filing: 7/29/2025 Next filing: 2/2/2026 SEC filing

Snapshot: Change Analysis

Compared to Q2 2025
Methodology: sector metrics are equities-only; instrument mix chart is ex-options; options exposure is shown separately. Why this matters.
Top Adds (Value $000, Stocks/ETFs)
WIX 5,364 111.2%
TMO 2,234 98.0%
TER 2,019 49.1%
SUPN 1,924 NEW
INDV 1,888 122.0%
MUSA 1,699 187.1%
TDW 1,546 NEW
GHC 1,541 23.3%
CSX 1,512 26.6%
GOOGL 1,471 16.8%
Top Reduces (Value $000, Stocks/ETFs)
T -3,201 -100.0%
MO -2,943 -100.0%
KEX -2,923 -17.9%
BRKR -2,883 -56.6%
ALGN -2,422 -69.0%
WNC -2,293 -77.8%
BRK-B -2,252 -16.0%
ASH -1,488 -100.0%
SEMR -1,379 -94.1%
EHC -1,234 -41.2%
Instrument mix + QoQ Δ (ex-options)
Derivatives reported exposure ($000): 62,823 (15.3% of total reported value)
How this table is calculated: SEC VALUE ($000) is used as reported. For derivatives (PUT/CALL/WARRANT/RIGHT), SEC value represents reported underlying exposure, not premium cash paid/received. Column % is bucket-based: non-options share is calculated inside non-option total, options share is calculated inside options total. Details.
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Instrument:
Issuer Name Ticker Sector Industry Class History Value ($000) % Shares Shares Δ Shares Δ% Value Δ ($000) Value Δ% Principal Option Type