DaveManuel.com · Institutional Ownership · 13F Holdings
VELA Investment Management, LLC
Reported holdings as of Q2 2026, from 19 quarterly filings.
Holdings
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| Security | Ticker | Value | Shares | Weight | Weight change | Held | Change |
|---|---|---|---|---|---|---|---|
| KIRBY CORP | KEX | $17.5M | 128,374 | -0.71pp | 19q | -9.4%-$1.8M | |
| ALPHABET INC PUT | GOOGL | $14.9M | 33,113 | +0.30pp | 19q | -9.9%-$1.6M | |
| ISHARES TR PUT | SOXX | $14.4M | options only | - | new | OPTIONS | |
| CRITEO S | CRTO | $13.9M | 761,210 | -0.34pp | 14q | -5.6%-$818.9K | |
| AMAZON COM INC PUT | AMZN | $12.1M | 40,856 | +0.03pp | 12q | -6.4%-$834.6K | |
| WORTHINGTON ENTERPRISES INC | WOR | $12.0M | 222,561 | +0.03pp | 7q | +5.1%+$578.5K | |
| BERKSHIRE HATHAWAY INC DEL | BRKB | $11.8M | 23,618 | -0.03pp | 19q | +1.5%+$178.1K | |
| HUB GROUP INC | HUBG | $11.4M | 259,419 | -0.03pp | 19q | -12.9%-$1.7M | |
| LINCOLN ELEC HLDGS INC | LECO | $9.0M | 34,079 | flat | 12q | HELD | |
| HENRY JACK & ASSOC INC | JKHY | $9.0M | 65,260 | +0.60pp | 3q | +77.4%+$3.9M | |
| CSX CORP PUT | CSX | $8.8M | 165,693 | -0.02pp | 19q | -9.2%-$899.1K | |
| JOHNSON & JOHNSON PUT | JNJ | $8.4M | 26,143 | -0.27pp | 17q | -12.4%-$1.2M | |
| CARLISLE COS INC | CSL | $8.0M | 22,178 | +0.16pp | 3q | +8.7%+$642.8K | |
| CACTUS INC | WHD | $7.4M | 145,421 | +0.06pp | 7q | +2.8%+$202.4K | |
| POOL CORP | POOL | $7.1M | 33,118 | -0.17pp | 5q | -9.0%-$701.6K | |
| MICROSOFT CORP PUT | MSFT | $6.9M | 9,618 | +0.46pp | 19q | +4.6%+$302.6K | |
| DISNEY WALT CO | DIS | $6.6M | 68,580 | +0.07pp | 19q | +12.4%+$728.1K | |
| COPA HOLDINGS SA | CPA | $6.1M | 39,119 | +0.29pp | 19q | HELD | |
| BOOKING HOLDINGS INC PUT | BKNG | $6.1M | 23,966 | +0.27pp | 14q | +10.8%+$591.4K | |
| ARCH CAP GROUP LTD | ACGL | $6.0M | 62,029 | -0.16pp | 19q | -0.9%-$57.2K | |
| ZEBRA TECHNOLOGIES CORPORATI | ZBRA | $5.6M | 21,281 | - | new | NEW | |
| THERMO FISHER SCIENTIFIC INC | TMO | $5.6M | 11,167 | +0.11pp | 6q | +15.7%+$758.6K | |
| AXIS CAP HLDGS LTD | AXS | $5.5M | 51,510 | +0.07pp | 19q | +7.2%+$373.2K | |
| ATLANTA BRAVES HLDGS INC | BATRK | $5.4M | 104,575 | +0.14pp | 12q | HELD | |
| GILDAN ACTIVEWEAR INC | GIL | $5.4M | 104,710 | +0.23pp | 3q | +44.0%+$1.7M | |
| MURPHY USA INC | MUSA | $5.1M | 9,391 | -0.23pp | 5q | -18.8%-$1.2M | |
| ABBOTT LABORATORIES | ABT | $5.0M | 54,892 | +0.59pp | 19q | +164.1%+$3.1M | |
| ENCOMPASS HEALTH CORP | EHC | $5.0M | 48,991 | +0.36pp | 19q | +53.6%+$1.7M | |
| GRAHAM HLDGS CO | GHC | $4.9M | 4,288 | flat | 19q | -0.8%-$39.9K | |
| INTERPARFUMS INC | IPAR | $4.7M | 42,301 | +0.22pp | 2q | +10.1%+$435.5K | |
| PEPSICO INC | PEP | $4.7M | 34,544 | -0.19pp | 19q | +3.6%+$162.6K | |
| GREENBRIER COS INC | GBX | $4.6M | 94,828 | -0.12pp | 19q | +2.8%+$124.8K | |
| ANTERO RESOURCES CORP | AR | $4.5M | 128,815 | -0.02pp | 10q | +27.2%+$969.3K | |
| BRUKER CORP | BRKR | $4.5M | 74,924 | +0.16pp | 7q | -23.0%-$1.3M | |
| ALLEGIANT TRAVEL CO | ALGT | $4.5M | 37,934 | - | new | NEW | |
| ALIGN TECHNOLOGY INC PUT | ALGN | $4.4M | 22,015 | -0.13pp | 7q | +15.0%+$573.4K | |
| MOVADO GROUP INC | MOV | $4.4M | 111,318 | -0.07pp | 8q | -37.9%-$2.7M | |
| PERFORMANCE FOOD GROUP CO | PFGC | $4.3M | 38,902 | +0.16pp | 19q | -0.7%-$30.3K | |
| VALVOLINE INC | VVV | $4.1M | 104,788 | +0.08pp | 15q | HELD | |
| CITIGROUP INC PUT | C | $4.1M | 10,996 | +0.04pp | 15q | -22.0%-$1.2M | |
| SIMPSON MFG INC | SSD | $4.0M | 18,973 | +0.23pp | 3q | +20.4%+$672.4K | |
| EQUIFAX INC | EFX | $3.9M | 24,643 | +0.03pp | 2q | +25.9%+$804.6K | |
| MSC INDL DIRECT INC | MSM | $3.8M | 31,854 | - | new | NEW | |
| BANK OF AMER CORP PUT | BAC | $3.7M | 24,995 | +0.24pp | 19q | HELD | |
| APPLIED INDL TECHNOLOGIES IN | AIT | $3.6M | 10,777 | -0.01pp | 19q | -17.3%-$764.9K | |
| ETSY INC | ETSY | $3.6M | 47,833 | +0.23pp | 3q | HELD | |
| EPAM SYS INC PUT | EPAM | $3.6M | 38,075 | -0.25pp | 9q | +49.0%+$1.2M | |
| NATIONAL FUEL GAS CO | NFG | $3.5M | 45,298 | +0.02pp | 6q | +33.5%+$878.1K | |
| PROFICIENT AUTO LOGISTICS INCOM | PAL | $3.5M | 510,840 | +0.11pp | 4q | +23.8%+$669.0K | |
| LIMBACH HLDGS INC | LMB | $3.5M | 45,166 | flat | 2q | +8.6%+$274.6K | |
| HOULIHAN LOKEY INC | HLI | $3.4M | 25,348 | +0.22pp | 2q | +62.3%+$1.3M | |
| LAMB WESTON HLDGS INC | LW | $3.4M | 78,694 | -0.03pp | 2q | +0.7%+$23.9K | |
| METLIFE INC PUT | MET | $3.4M | 25,028 | +0.16pp | 19q | HELD | |
| FEDERAL AGRIC MTG CORP | AGM | $3.3M | 16,648 | +0.18pp | 7q | +6.1%+$189.7K | |
| SI-BONE INC | SIBN | $3.3M | 201,094 | +0.16pp | 19q | +7.4%+$227.4K | |
| TORO CO | TTC | $2.9M | 30,136 | +0.04pp | 3q | +9.6%+$256.5K | |
| BAKER HUGHES COMPANY PUT | BKR | $2.9M | 31,764 | -0.11pp | 19q | HELD | |
| SUPERNUS PHARMACEUTICALS | SUPN | $2.9M | 61,703 | +0.03pp | 4q | +25.2%+$577.1K | |
| META PLATFORMS INC PUT | META | $2.8M | 2,768 | -0.07pp | 14q | -5.5%-$162.8K | |
| ASSURED GUARANTY LTD | AGO | $2.8M | 34,892 | -0.05pp | 19q | HELD | |
| BRP INC | DOO | $2.7M | 43,737 | +0.13pp | 5q | +61.3%+$1.0M | |
| RANGE RES CORP | RRC | $2.7M | 71,716 | -0.03pp | 18q | +22.9%+$496.9K | |
| PPG INDS INC | PPG | $2.7M | 21,889 | -0.04pp | 5q | -12.2%-$369.3K | |
| TIDEWATER INC NEW | TDW | $2.6M | 38,540 | -0.08pp | 4q | +17.8%+$388.7K | |
| PROCEPT BIOROBOTICS CORP | PRCT | $2.6M | 113,722 | +0.15pp | 3q | +62.0%+$982.5K | |
| ESSENT GROUP LTD | ESNT | $2.5M | 39,299 | +0.02pp | 2q | +1.3%+$32.7K | |
| 3M CO PUT | MMM | $2.5M | 7,409 | +0.02pp | 10q | HELD | |
| ACCENTURE PLC IRELAND | ACN | $2.3M | 18,276 | -0.75pp | 16q | -32.4%-$1.1M | |
| SALESFORCE INC PUT | CRM | $2.3M | 6,977 | -0.12pp | 17q | -23.4%-$692.4K | |
| GLOBUS MED INC | GMED | $2.2M | 27,221 | -0.06pp | 4q | +3.0%+$62.6K | |
| ICON PUB LTD CO | ICLR | $2.1M | 12,192 | +0.41pp | 2q | +511.4%+$1.8M | |
| FEDEX CORP PUT | FDX | $2.1M | 2,736 | -0.02pp | 17q | HELD | |
| MAMAS CREATIONS INC | MAMA | $2.1M | 115,414 | +0.03pp | 10q | HELD | |
| SUNCOR ENERGY INC NEW | SU | $2.0M | 36,792 | -0.17pp | 19q | -5.1%-$106.2K | |
| INSTALLED BLDG PRODS INC | IBP | $1.9M | 8,391 | -0.06pp | 6q | +7.0%+$126.0K | |
| OLLIES BARGAIN OUTLET HLDGS | OLLI | $1.9M | 24,136 | - | new | NEW | |
| COCA COLA CONS INC | COKE | $1.8M | 9,591 | -0.03pp | 9q | HELD | |
| CORPAY INC | CPAY | $1.8M | 5,368 | +0.03pp | 3q | HELD | |
| BLUE OWL CAPITAL INC PUT | OWL | $1.8M | options only | +0.26pp | 2q | OPTIONS | |
| UBER TECHNOLOGIES INC PUT | UBER | $1.7M | 14,246 | +0.01pp | 12q | +17.8%+$264.5K | |
| BBB Foods Inc | TBBB | $1.7M | 41,600 | +0.06pp | 9q | +6.4%+$104.2K | |
| AUTODESK INC PUT | ADSK | $1.7M | 5,777 | -0.13pp | 12q | +14.9%+$221.2K | |
| INGLES MKTS INC | IMKTA | $1.7M | 19,209 | -0.16pp | 5q | -23.7%-$527.4K | |
| DECKERS OUTDOOR CORP PUT | DECK | $1.7M | 9,985 | -0.21pp | 5q | +4.4%+$71.3K | |
| NOMAD FOODS LTD | NOMD | $1.7M | 153,600 | -0.05pp | 8q | -17.9%-$365.7K | |
| COPART INC | CPRT | $1.7M | 59,608 | - | new | NEW | |
| ALAMOS GOLD INC | AGI | $1.6M | 53,000 | -0.54pp | 15q | -38.6%-$1.0M | |
| ZOETIS INC | ZTS | $1.6M | 22,297 | -0.08pp | 9q | +43.6%+$486.4K | |
| SERVICENOW INC PUT | NOW | $1.5M | 9,468 | -0.09pp | 14q | HELD | |
| HOME DEPOT INC | HD | $1.5M | 4,293 | +0.03pp | 19q | +9.3%+$129.1K | |
| SPS COMM INC | SPSC | $1.5M | 26,091 | -0.01pp | 3q | +1.6%+$22.9K | |
| ROUNDHILL ETF TRUST PUT | DRAM | $1.5M | options only | - | new | OPTIONS | |
| VISA INC | V | $1.4M | 4,225 | +0.02pp | 19q | HELD | |
| GLOBANT S A | GLOB | $1.4M | 48,900 | -0.06pp | 4q | +43.4%+$428.3K | |
| PALANTIR TECHNOLOGIES INC PUT | PLTR | $1.4M | 40 | - | new | NEW | |
| TOTALENERGIES SE | TTE | $1.4M | 18,000 | -0.09pp | 3q | HELD | |
| NETFLIX INC. | NFLX | $1.4M | 19,543 | +0.18pp | 2q | +240.2%+$985.2K | |
| NISOURCE INC | NI | $1.4M | 28,463 | -0.02pp | 3q | -2.0%-$27.0K | |
| ARCOS DORADOS HLDGS INC | ARCO | $1.3M | 167,400 | -0.03pp | 5q | HELD | |
| TYSON FOODS INC | TSN | $1.2M | 21,558 | -0.03pp | 9q | +8.1%+$92.2K | |
| TJX COS INC NEW | TJX | $1.2M | 7,828 | -0.33pp | 19q | -11.1%-$148.0K | |
| CHARLES SCHWAB CORP (THE) | SCHW | $1.1M | 12,410 | -0.02pp | 19q | HELD | |
| MICRON TECHNOLOGY INC CALL | MU | $1.0M | options only | - | new | OPTIONS | |
| DEERE CO | DE | $1.0M | 1,635 | +0.01pp | 19q | HELD | |
| MPLX LP | MPLX | $1.0M | 18,164 | flat | 11q | +10.0%+$93.0K | |
| ASTRAZENECA PLC | AZN | $920.4K | 4,854 | -0.10pp | 2q | -26.4%-$329.6K | |
| MASTERCARD INCORPORATED | MA | $853.1K | 1,661 | +0.07pp | 2q | +73.4%+$361.1K | |
| ADVANCED MICRO DEVICES INC | AMD | $841.2K | 1,448 | +0.11pp | 5q | -8.6%-$79.0K | |
| TAIWAN SEMICONDUCTOR MANUFAC CALL | TSM | $716.4K | options only | -0.47pp | 3q | OPTIONS | |
| ALPHABET INC | GOOG | $710.9K | 2,012 | +0.02pp | 3q | -2.1%-$15.5K | |
| ABBVIE INC | ABBV | $613.5K | 2,438 | -0.04pp | 19q | -0.7%-$4.0K | |
| STRATEGY INC PUT | MSTR | $608.5K | options only | - | new | OPTIONS | |
| MEDTRONIC PLC | MDT | $605.0K | 7,734 | flat | 19q | +15.7%+$82.0K | |
| AXSOME THERAPEUTICS INC PUT | AXSM | $587.4K | 1,200 | +0.05pp | 4q | HELD | |
| VAIL RESORTS INC | MTN | $581.6K | 4,272 | -0.02pp | 17q | -12.4%-$82.5K | |
| KKR & CO INC | KKR | $579.1K | 6,310 | -0.12pp | 10q | HELD | |
| FIRST INTST BANCSYSTEM INC | FIBK | $563.0K | 14,601 | +0.01pp | 4q | HELD | |
| SIMON PPTY GROUP INC NEW | SPG | $554.7K | 2,480 | flat | 17q | -8.3%-$50.3K | |
| ROCKET COS INC | RKT | $549.3K | 34,876 | flat | 3q | HELD | |
| BXP INC | BXP | $527.9K | 7,961 | flat | 5q | -13.0%-$78.6K | |
| NVR INC | NVR | $517.8K | 76 | - | new | NEW | |
| FIDELITY NATL INFORMATION SV | FIS | $493.9K | 12,704 | -0.04pp | 19q | -2.8%-$14.3K | |
| UNION PAC CORP | UNP | $475.5K | 1,748 | flat | 3q | -0.7%-$3.5K | |
| SHERWIN WILLIAMS CO | SHW | $469.0K | 1,362 | - | new | NEW | |
| NORTHROP GRUMMAN CORP | NOC | $457.9K | 899 | -0.04pp | 19q | HELD | |
| LINDE PLC | LIN | $445.8K | 859 | flat | 14q | HELD | |
| COMCAST CORP NEW | CMCSA | $445.1K | 18,132 | +0.01pp | 19q | +46.3%+$140.9K | |
| PAYPAL HLDGS INC CALL | PYPL | $431.8K | options only | -0.04pp | 2q | OPTIONS | |
| FS KKR CAP CORP PUT | FSK | $420.0K | options only | - | new | OPTIONS | |
| SHIFT4 PMTS INC | FOURPRA | $373.6K | 6,000 | +0.01pp | 3q | HELD | |
| WESCO INTL INC | WCC | $366.2K | 1,060 | +0.01pp | 5q | HELD | |
| GARMIN LTD | GRMN | $358.7K | 1,510 | flat | 8q | HELD | |
| Domino's Pizza, Inc. | DPZ | $351.7K | 1,188 | -0.02pp | 2q | +6.9%+$22.8K | |
| HERSHEY CO | HSY | $313.5K | 1,787 | - | new | NEW | |
| VANGUARD INDEX FDS | VOO | $306.6K | 446 | +0.01pp | 2q | +3.0%+$8.9K | |
| TERADYNE INC | TER | $299.5K | 619 | - | new | NEW | |
| CIMPRESS PLC | CMPR | $279.0K | 2,743 | +0.01pp | 2q | HELD | |
| SNOWFLAKE INC CALL | SNOW | $254.5K | options only | - | new | OPTIONS | |
| ROIVANT SCIENCES LTD | ROIV | $207.0K | 5,849 | - | new | NEW | |
| FEDEX FGHT HLDG CO INC | FDXF | $206.4K | 1,367 | - | new | NEW | |
| SHIFT4 PMTS INC | FOUR | $202.6K | 4,166 | -0.50pp | 5q | -92.2%-$2.4M |
By sector
Industry comes from the SIC code on each company's own SEC filings, which is self-reported and sometimes out of date. Derivative exposure is counted with the shares. Securities the SEC assigns no industry - funds, trusts, foreign issues - are shown as not classified rather than dropped.
| Sector | Value | Share |
|---|---|---|
| Transport & Logistics | $64.1M | 14.0% |
| Software & IT Services | $48.0M | 10.5% |
| Business Services | $35.6M | 7.7% |
| Retail & Consumer | $34.1M | 7.4% |
| Industrials | $32.9M | 7.2% |
| Insurance | $32.1M | 7.0% |
| Biotech & Pharma | $26.8M | 5.8% |
| Wholesale & Distribution | $19.6M | 4.3% |
| Energy | $18.2M | 4.0% |
| Chemicals | $17.6M | 3.8% |
| Medical Devices | $15.5M | 3.4% |
| Food, Drink & Tobacco | $15.2M | 3.3% |
| Other sectors | $82.8M | 18.0% |
| Not classified | $16.6M | 3.6% |
What the disclosed book did
This is not the fund's return. A 13F shows long US equity positions only, so shorts, bonds, foreign listings, private holdings and cash are all invisible here. What this measures is the quarter's change in value of the positions this manager disclosed, had they been left untouched - the return a reader following the filing would have earned.
| Quarter | Book | Market | Difference | Priced |
|---|---|---|---|---|
| Q2 2026 | +3.3% | +14.8% | -11.5% | 91% |
| Q1 2026 | -0.7% | -4.6% | +4.0% | 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% |
Market is SPY over the same two quarter ends, priced the same way as everything else here - the median across every filer reporting it. It is a large-cap US proxy, so a manager holding small caps or biotech will beat or trail it for reasons that are not skill. Prices are quarter-end to quarter-end and say nothing about the path in between, or about trades opened and closed inside a quarter.
Quarter by quarter
| Quarter | Value | Positions | New | Added | Trimmed | Exited | Top 10 | Days to file |
|---|---|---|---|---|---|---|---|---|
| Q2 2026 | $459.0M | 141 | 18 | 54 | 36 | 18 | 27.4% | 58 |
| Q1 2026 | $428.7M | 141 | 19 | 63 | 43 | 16 | 28.2% | 149 |
| Q4 2025 | $420.6M | 138 | 20 | 45 | 44 | 19 | 26.6% | 239 |
| Q3 2025 | $409.9M | 137 | 17 | 42 | 57 | 13 | 27.9% | 30 |
| Q2 2025 | $368.9M | 133 | 14 | 66 | 31 | 12 | 26.4% | 29 |
| Q1 2025 | $318.9M | 131 | 8 | 51 | 42 | 16 | 26.3% | 29 |
| Q4 2024 | $359.0M | 139 | 12 | 48 | 28 | 10 | 29.2% | 36 |
| Q3 2024 | $324.1M | 137 | 12 | 46 | 35 | 18 | 26.3% | 29 |
| Q2 2024 | $321.7M | 143 | 14 | 60 | 29 | 14 | 27.4% | 36 |
| Q1 2024 | $295.0M | 143 | 12 | 53 | 33 | 15 | 27.8% | 43 |
| Q4 2023 | $261.4M | 146 | 17 | 56 | 31 | 7 | 26.8% | 30 |
| Q3 2023 | $227.6M | 136 | 15 | 67 | 23 | 15 | 29.3% | 38 |
| Q2 2023 | $216.6M | 136 | 9 | 37 | 36 | 6 | 27.1% | 39 |
| Q1 2023 | $219.8M | 133 | 10 | 93 | 15 | 14 | 27.9% | 38 |
| Q4 2022 | $202.5M | 137 | 11 | 69 | 23 | 9 | 28.0% | 31 |
| Q3 2022 | $176.4M | 135 | 10 | 83 | 11 | 11 | 28.4% | 41 |
| Q2 2022 | $174.7M | 136 | 26 | 73 | 8 | 4 | 27.9% | 42 |
| Q1 2022 | $159.3M | 114 | 10 | 52 | 22 | 10 | 30.2% | 42 |
| Q4 2021 | $148.7M | 114 | 0 | 0 | 0 | 0 | 30.0% | 40 |
Rows marked UNVERIFIED ID, PLACEHOLDER ID, TICKER AS ID or NON-CUSIP ID carry an identifier that is not a valid CUSIP. They are shown because the filer reported that money, but treat the security named with caution - hover the chip for what is wrong with it, and see the methodology.
Held counts consecutive filings in which this manager reported the position, and can reach further back than the quarters listed above: the tabs begin at Q4 2018 because earlier coverage is too sparse to describe a market, but tenure is counted over every filing we hold, some reaching to 2007. A position sold and later rebought starts again from one.
Weight change is the shift in this position's share of the whole book, in percentage points. It is the more useful column: when money flows into or out of a broad fund, almost every holding is bought or sold at once, so added and trimmed largely track flows. A weight that rose while the book shrank is a decision. Both compare with the previous quarter this filer reported, not the previous calendar quarter.