VELA Investment Management, LLC Q4 2025 Filing

Filed February 2, 2026

Portfolio Value

$425.0B

Holdings

138

Report Date

Q4 2025

Filing Type

13F-HR

All Holdings (138 positions)

#StockSharesValue% PortfolioType
1
KEXKirby Corp
154,048$17.0B3.99%
2
GOOGLAlphabet Inc
44,476$13.9B3.28%Put
3
HUBGHub Group Inc
321,415$13.7B3.22%
4
BRK/BBerkshire Hathaway Inc Cl B
23,410$11.8B2.77%
5
CRTOCriteo SA
551,407$11.4B2.67%
6
AMZNAmazon.com Inc
49,184$11.4B2.67%Put
7
WIXWix.com Ltd
101,974$10.6B2.49%Put
8
LECOLincoln Electric Holdings Inc
37,840$9.1B2.13%
9
CSXCSX Corp
191,927$7.0B1.64%
10
JNJJohnson & Johnson
33,116$6.9B1.61%
11
SPYState Street Spdr S&P 500 Etf
10,000$6.8B1.60%Put
12
WHDCactus Inc. A
146,042$6.7B1.57%
13
ACGLArch Capital Group Ltd
66,807$6.4B1.51%Put
14
SYYSysco Corp
86,042$6.3B1.49%
15
DISWalt Disney Co/The
52,087$5.9B1.39%
16
MSFTMicrosoft Corp
11,268$5.4B1.28%Put
17
GHCGraham Holdings Co
4,919$5.4B1.27%
18
ARKKARK Innovation ETF
70,000$5.4B1.27%Put
19
AITApplied Industrial Technologie
20,734$5.3B1.25%
20
AXSAxis Capital Holdings Ltd
48,136$5.2B1.21%
21
CSLCarlisle Cos Inc
15,706$5.0B1.18%
22
TMOThermo Fisher Scientific Inc
8,508$4.9B1.16%
23
BRKRBruker Corp
102,700$4.8B1.14%
24
PEPPepsiCo Inc
32,979$4.7B1.11%
25
POOLPool Corp
20,578$4.7B1.11%
26
ACNAccenture PLC
17,503$4.7B1.10%Put
27
CPACopa Holdings SA
37,393$4.5B1.06%
28
AGIAlamos Gold Inc
116,144$4.5B1.05%
29
ARAntero Resources Corp
129,130$4.4B1.05%
30
GBXGreenbrier Cos Inc/The
92,695$4.3B1.02%
31
EPAMEPAM Systems Inc
20,939$4.3B1.01%Put
32
TERTeradyne Inc
22,060$4.3B1.00%
33
COKECoca-Cola Consolidated Inc
27,818$4.3B1.00%
34
AFWAlign Technology Inc
26,995$4.2B0.99%Put
35
TRVCCitigroup Inc
35,004$4.1B0.96%Put
36
WTHWorthington Inc
78,306$4.0B0.95%
37
MUSAMurphy USA Inc.
9,765$3.9B0.93%
38
VVVValvoline Inc
133,756$3.9B0.91%
39
MOVMovado Group PLC
185,006$3.8B0.90%
40
GQ9SPDR Gold Shares
9,000$3.6B0.84%Put
41
BATRAAtlanta Braves Holdings Inc
88,467$3.5B0.82%
42
NOCNorthrop Grumman Corp
6,087$3.5B0.82%
43
SNCYSun Country Airlines Holding
239,179$3.4B0.81%
44
METAMeta Platforms Inc
5,200$3.4B0.81%Put
45
ABTAbbott Laboratories
27,229$3.4B0.80%
46
FISFidelity National Information
51,092$3.4B0.80%
47
FOURShift 4 Payments Inc. Cl A
52,752$3.3B0.78%
48
AGOAssured Guaranty Ltd
35,109$3.2B0.74%
49
GILGildan Activewear Inc
49,688$3.1B0.73%
50
FDXFedEx Corp
10,722$3.1B0.73%Put
51
MAMAMama's Creations Inc
226,551$3.1B0.72%
52
MPLXMPLX LP
54,446$2.9B0.68%Put
53
PFGCPerformance Food Group Co
31,194$2.8B0.66%
54
IBPInstalled Bldg Prods Inc
10,759$2.8B0.66%
55
SIBNSI-BONE Inc
140,412$2.8B0.65%
56
BACBank of America Corp
50,065$2.8B0.65%Put
57
SEBSeaboard Corp
610$2.7B0.64%
58
PPGPPG Industries Inc
25,989$2.7B0.63%
59
UNHUnitedHealth Group Inc
8,004$2.6B0.62%Call
60
METMetLife Inc
33,444$2.6B0.62%Put
61
CRMSalesforce Inc
9,843$2.6B0.61%Put
62
JKHYHenry Jack & Assoc Inc
13,988$2.6B0.60%
63
TJXTJX Cos Inc/The
16,358$2.5B0.59%Put
64
SSDSimpson Manufacturing Co Inc.
15,505$2.5B0.59%
65
SUPNSupernus Pharmaceuticals Inc.
49,910$2.5B0.58%
66
JBIJanus International Group IN
375,487$2.5B0.58%
67
ZTSZoetis Inc
19,373$2.4B0.57%Put
68
BKNGBooking Holdings Inc
455$2.4B0.57%Put
69
NLOPNet Lease Office Properties
94,327$2.4B0.57%
70
SUSuncor Energy Inc
54,368$2.4B0.57%
71
NKENIKE Inc
37,495$2.4B0.56%Put
72
BKRBaker Hughes Co
52,122$2.4B0.56%Put
73
RRCRange Resources Corp
66,496$2.3B0.55%
74
GMEDGlobus Med Inc Cl A
26,597$2.3B0.55%
75
MMM3M Co
14,474$2.3B0.54%Put
76
PALProficient Auto Logistics Inc
239,980$2.3B0.54%
77
TTCToro Co
28,250$2.2B0.52%
78
BOKFBOK Financial Corp
17,849$2.1B0.50%
79
NOWServiceNow Inc
13,595$2.1B0.49%Put
80
NFGNational Fuel Gas Co NJ
25,806$2.1B0.49%
81
UBERUber Technologies Inc
22,096$1.8B0.42%Put
82
SPSCSPS Commerce Inc
20,171$1.8B0.42%
83
EHCEncompass Health Corp
16,776$1.8B0.42%
84
IMKTAIngles Markets Inc. - Class A
24,833$1.7B0.40%
85
ABBVAbbVie Inc
7,445$1.7B0.40%
86
TDWTidewater Inc
33,369$1.7B0.40%
87
DOOBRP INC/CA- Sub-Voting
23,335$1.7B0.39%
88
SBUXStarbucks Corp
18,748$1.6B0.37%Put
89
DECKDeckers Outdoor Corp.
14,903$1.5B0.36%Put
90
NOMDNomad Foods LTD
122,400$1.5B0.36%
91
NEUNewMarket Corp
2,211$1.5B0.36%
92
VVisa Inc
4,239$1.5B0.35%
93
TTETotalEnergies SE
22,600$1.5B0.35%
94
WDAYWorkday Inc
6,835$1.5B0.35%Put
95
TBBBBBB Foods Inc
43,100$1.4B0.34%
96
SCHWCharles Schwab Corp/The
14,273$1.4B0.34%
97
CPAYCorpay Inc
4,632$1.4B0.33%
98
OSGOctave Specialty Group Inc
178,752$1.4B0.33%
99
HDHome Depot Inc/The
3,927$1.4B0.32%
100
ADSKAutodesk Inc
4,470$1.3B0.31%
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