1y return+10.1%S&P 500 +20.9%
3y return+32.6%S&P 500 +68.5%
These returns are for its stock picks as disclosed on Form 13F: last quarter's holdings, valued at this quarter's prices. They miss trades within each quarter, short positions, options, bonds, cash and fees, so they aren't the returns its clients got.
$100 invested in its stock picks
Since December 31, 2021: $126 against $157 in the S&P 500.2
VELA Investment Management, LLCS&P 500 (SPY)
Top holdings
At the end of June 30, 2026. Change is in shares since the quarter before.2
| Stock | Value | Share of portfolio | Change |
|---|---|---|---|
| KEXKirby Corp | $17.5M | 4.3% | −9.4% |
| Criteo SACUSIP 226718104 | $13.9M | 3.4% | −5.6% |
| WORWorthington Inc | $12.0M | 2.9% | +5.1% |
| GOOGLAlphabet Inc | $11.8M | 2.9% | −9.9% |
| BRK/BBerkshire Hathaway Inc Cl B | $11.8M | 2.9% | +1.5% |
| HUBGHub Group Inc | $11.4M | 2.8% | −12.9% |
| AMZNAmazon.com Inc | $9.7M | 2.4% | −6.4% |
| LECOLincoln Electric Holdings Inc | $9.0M | 2.2% | |
| JKHYHenry Jack & Assoc Inc | $9.0M | 2.2% | +77.4% |
| CSLCarlisle Cos Inc | $8.0M | 2.0% | +8.7% |
| CSXCSX Corp | $7.9M | 1.9% | −9.2% |
| WHDCactus Inc. A | $7.4M | 1.8% | +2.8% |
| POOLPool Corp | $7.1M | 1.7% | −9.0% |
| JNJJohnson & Johnson | $6.6M | 1.6% | −12.4% |
| DISWalt Disney Co/The | $6.6M | 1.6% | +12.4% |
| Copa Holdings SACUSIP P31076105 | $6.1M | 1.5% | |
| Arch Capital Group LtdCUSIP G0450A105 | $6.0M | 1.5% | |
| ZBRAZebra Technologies Corp Cl A | $5.6M | 1.4% | New |
| TMOThermo Fisher Scientific Inc | $5.6M | 1.4% | +15.7% |
| Axis Capital Holdings LtdCUSIP G0692U109 | $5.5M | 1.4% | +7.2% |
| BATRKAtlanta Braves Holdings Inc | $5.4M | 1.3% | |
| GILGildan Activewear Inc | $5.4M | 1.3% | +44.0% |
| MUSAMurphy USA Inc. | $5.1M | 1.2% | −18.8% |
| ABTAbbott Laboratories | $5.0M | 1.2% | +164.1% |
| EHCEncompass Health Corp | $5.0M | 1.2% | +53.6% |
Best picks still held
How each current holding has done since the quarter it first appeared in its filings (up to six years back).
| Stock | Held since | Return since | Now worth |
|---|---|---|---|
| GOOGLAlphabet Inc | December 31, 2021 | +146.7% | $11.8M |
| PFGCPerformance Food Group Co | December 31, 2021 | +143.6% | $4.3M |
| KEXKirby Corp | December 31, 2021 | +128.8% | $17.5M |
| Arch Capital Group LtdCUSIP G0450A105 | December 31, 2021 | +118.4% | $6.0M |
| MOVMovado Group PLC | September 30, 2024 | +111.3% | $4.4M |
| Axis Capital Holdings LtdCUSIP G0692U109 | December 31, 2021 | +97.2% | $5.5M |
| Copa Holdings SACUSIP P31076105 | December 31, 2021 | +88.2% | $6.1M |
| AMZNAmazon.com Inc | September 30, 2023 | +87.5% | $9.7M |
| GHCGraham Holdings Co | December 31, 2021 | +81.2% | $4.9M |
| BKNGBooking Holdings Inc | March 31, 2023 | +68.0% | $4.3M |
Sold off last quarter
- Wix.com LtdCUSIP M98068105 was $11.1M
- SNCYSun Country Airlines Holding was $4.0M
- SYYSysco Corp was $3.7M
- JBIJanus International Group IN was $2.5M
- NLOPNet Lease Office Properties was $1.5M
- NKENIKE Inc was $1.3M
- BWXTBWX Technologies Inc was $1.1M
- SBUXStarbucks Corp was $347K
- FLOFlowers Foods Inc was $308K
- MDLZMondelez International Inc was $295K
Quarter by quarter
| Quarter | Its picks | S&P 500 |
|---|---|---|
| June 30, 2026 | +3.2% | +14.8% |
| March 31, 2026 | −1.0% | −4.6% |
| December 31, 2025 | +4.1% | +2.4% |
| September 30, 2025 | +3.5% | +7.8% |
| June 30, 2025 | +3.2% | +10.5% |
| March 31, 2025 | −2.7% | −4.6% |
| December 31, 2024 | −0.7% | +2.1% |
| September 30, 2024 | +5.2% | +5.4% |
| June 30, 2024 | −0.6% | +4.0% |
| March 31, 2024 | +9.9% | +10.0% |
| December 31, 2023 | +7.2% | +11.2% |
| September 30, 2023 | −2.0% | −3.6% |
| June 30, 2023 | +4.5% | +8.3% |
| March 31, 2023 | +0.4% | +7.0% |
| December 31, 2022 | +11.0% | +7.1% |
| September 30, 2022 | −5.8% | −5.3% |
| June 30, 2022 | −13.3% | −16.5% |
| March 31, 2022 | +0.1% | −4.9% |
Sources
Every number on this page points here. Each one links to the public record.
- 1SEC EDGAR: VELA Investment Management, LLC Form 13F filingshttps://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=1895612&type=13F-HR&dateb=&owner=include&count=40CIK 1895612
- 2SEC: 13F for the quarter ended June 30, 2026https://www.sec.gov/Archives/edgar/data/1895612/000189561226000014/Filed August 27, 2026 · accession 0001895612-26-000014