NPORT-P
false
0001815493
XXXXXXXX
S000097967
C000267518
VELA Funds
811-23585
0001815493
549300F0PMHX6GFZ7Q56
220 Market Street
Suite 208
New Albany
43054
614-653-8352
VELA SMALL-MID CAP FUND
S000097967
529900K98ZYDW0FYVB31
2026-09-30
2026-06-30
N
8778040.68
22148.62
8755892.06
0.00000000
0.00000000
0.00000000
0.00000000
0.00000000
0.00000000
0.00000000
0.00000000
0.00000000
0.00000000
0.00000000
0.00000000
0.00000000
0
N
VELA SMALL-MID CAP DRP
VELA SMALL-MID CAP DRP
COPART INC
549300KVYX3JWMYEHU61
Copart, Inc.
217204106
6426.00000000
NS
USD
181148.94000000
2.068880460821
Long
EC
CORP
US
N
1
N
N
N
CROWN HOLDINGS INC
NYLWZIOY8PUNIT4JOE22
Crown Holdings, Inc.
228368106
853.00000000
NS
USD
95382.46000000
1.089351711354
Long
EC
CORP
US
N
1
N
N
N
SHIFT4 PAYMENTS INC
N/A
Shift4 Payments, Inc.
82452J109
2401.00000000
NS
USD
116784.64000000
1.333783459180
Long
EC
CORP
US
N
1
N
N
N
ANTERO RESOURCES CORP
APVBKPOULHUX7YZLKU17
Antero Resources Corporation
03674X106
5657.00000000
NS
USD
198786.98000000
2.270322414184
Long
EC
CORP
US
N
1
N
N
N
GLOBUS MEDICAL INC
5299003M2P4CIK0RF205
Globus Medical, Inc.
379577208
1313.00000000
NS
USD
103740.13000000
1.184803664653
Long
EC
CORP
US
N
1
N
N
N
RPM INTERNATIONAL INC
549300TJCKW4BRXPJ474
RPM International, Inc.
749685103
881.00000000
NS
USD
97923.15000000
1.118368629135
Long
EC
CORP
US
N
1
N
N
N
ALIGN TECHNOLOGY INC
549300N5YSE0U3LCP840
Align Technology, Inc.
016255101
567.00000000
NS
USD
95630.22000000
1.092181348795
Long
EC
CORP
US
N
1
N
N
N
VALVOLINE INC
549300CMHPBEY6VPOT75
Valvoline, Inc.
92047W101
3978.00000000
NS
USD
157290.12000000
1.796391720251
Long
EC
CORP
US
N
1
N
N
N
LAMB WESTON HOLDINGS INC
5493005SMYID1D2OY946
Lamb Weston Holdings, Inc.
513272104
2998.00000000
NS
USD
129453.64000000
1.478474598737
Long
EC
CORP
US
N
1
N
N
N
BRUKER CORP
LEBZ6VLQ6I8XB1NHVY15
Bruker Corporation
116794108
2535.00000000
NS
USD
152556.30000000
1.742327326040
Long
EC
CORP
US
N
1
N
N
N
THE OPTIONS CLEARING CORPORATION
549300CII6SLYGKNHA04
Valvoline, Inc. 07/17/2026 45 Call
N/A
-9.00000000
NS
USD
-117.00000000
-0.00133624306
Short
DE
CORP
US
N
1
STONEX GROUP INC
N/A
Call
Written
Valvoline, Inc.
Valvoline, Inc.
100.00000000
45.00000000
USD
2026-07-17
XXXX
904.97000000
N
N
N
COPA HOLDINGS SA
529900BB9UQJV6QQHA59
Copa Holdings S.A.
P31076105
853.00000000
NS
USD
132701.21000000
1.515564708777
Long
EC
CORP
PA
N
1
N
N
N
SUPERNUS PHARMACEUTICALS INC
549300GRM36VBKISYJ58
Supernus Pharmaceuticals, Inc.
868459108
2891.00000000
NS
USD
134460.41000000
1.535656322378
Long
EC
CORP
US
N
1
N
N
N
OLLIE'S BARGAIN OUTLET HOLDINGS INC
529900YO5DSQCPEFDZ05
Ollie's Bargain Outlet Holdings, Inc.
681116109
911.00000000
NS
USD
70037.68000000
0.799891998668
Long
EC
CORP
US
N
1
N
N
N
EPAM SYSTEMS INC
549300XCR4R530HJP604
EPAM Systems, Inc.
29414B104
1289.00000000
NS
USD
102282.15000000
1.168152248784
Long
EC
CORP
US
N
1
N
N
N
COCA-COLA CONSOLIDATED INC
57VG5X0E00X0QJU7CQ58
Coca-Cola Consolidated, Inc.
191098102
283.00000000
NS
USD
54030.36000000
0.617074304134
Long
EC
CORP
US
N
1
N
N
N
ATLANTA BRAVES HOLDINGS INC
N/A
Atlanta Braves Holdings, Inc.
047726302
4511.00000000
NS
USD
234120.90000000
2.673866904658
Long
EC
CORP
US
N
1
N
N
N
POOL CORP
5493005VZK1KMN6CO617
Pool Corporation
73278L105
949.00000000
NS
USD
203940.10000000
2.329175583738
Long
EC
CORP
US
N
1
N
N
N
CARLISLE COMPANIES INC
XR64VGX1ZPX6G7ZN7Z11
Carlisle Companies, Inc.
142339100
764.00000000
NS
USD
277141.00000000
3.165194341146
Long
EC
CORP
US
N
1
N
N
N
BRP INC
529900EPQGESIRCPY551
BRP, Inc.
05577W200
1596.00000000
NS
USD
97387.92000000
1.112255831075
Long
EC
CORP
CA
N
1
N
N
N
WIX.COM LTD
5493008P6N29Q1AG9464
Wix.com Ltd.
M98068105
1734.00000000
NS
USD
78671.58000000
0.898498741886
Long
EC
CORP
IL
N
1
N
N
N
ASSURED GUARANTY LTD
549300BBOQUJEPH87M14
Assured Guaranty Ltd.
G0585R106
899.00000000
NS
USD
72063.84000000
0.823032530622
Long
EC
CORP
BM
N
1
N
N
N
FIDELITY NATIONAL INFORMATION SERVICES INC
6WQI0GK1PRFVBA061U48
Fidelity National Information Services, Inc.
31620M106
2561.00000000
NS
USD
99571.68000000
1.137196293851
Long
EC
CORP
US
N
1
N
N
N
NATIONAL FUEL GAS COMPANY
8JB38FFW1Y3C1HM8E841
National Fuel Gas Company
636180101
1658.00000000
NS
USD
128014.18000000
1.462034697581
Long
EC
CORP
US
N
1
N
N
N
DOMINO'S PIZZA INC
25490005ZWM1IF9UXU57
Domino's Pizza, Inc.
25754A201
262.00000000
NS
USD
77562.48000000
0.885831842929
Long
EC
CORP
US
N
1
N
N
N
GILDAN ACTIVEWEAR INC
549300SB3IBI34M00Z45
Gildan Activewear, Inc.
375916103
3231.00000000
NS
USD
166719.60000000
1.904084687859
Long
EC
CORP
CA
N
1
N
N
N
FIRST AMERICAN FUNDS INC
549300J5J5SJCZ9IA369
First American Treasury Obligations Fund
31846V328
18817.67000000
PA
USD
18817.67000000
0.214914367046
Long
STIV
RF
US
N
1
N
N
N
LIMBACH HOLDINGS INC
254900EW8KXT5ZTWQI30
Limbach Holdings, Inc.
53263P105
1673.00000000
NS
USD
128821.00000000
1.471249292673
Long
EC
CORP
US
N
1
N
N
N
TORO COMPANY
YJKE4YIT6BWQHVEW0D14
Toro Company (The)
891092108
1592.00000000
NS
USD
155092.64000000
1.771294562989
Long
EC
CORP
US
N
1
N
N
N
GREENBRIER COMPANIES INC (THE)
5493001GAGGFR30BP390
Greenbrier Companies, Inc. (The)
393657101
2988.00000000
NS
USD
146441.88000000
1.672495263720
Long
EC
CORP
US
N
1
N
N
N
THE OPTIONS CLEARING CORPORATION
549300CII6SLYGKNHA04
Bruker Corporation 12/18/2026 75 Call
N/A
-8.00000000
NS
USD
-4960.00000000
-0.05664756904
Short
DE
CORP
US
N
1
STONEX GROUP INC
N/A
Call
Written
Bruker Corporation
Bruker Corporation
100.00000000
75.00000000
USD
2026-12-18
XXXX
-395.55000000
N
N
N
KIRBY CORP
I7NO6FZO5GUCG585T325
Kirby Corporation
497266106
2169.00000000
NS
USD
294918.93000000
3.368233961531
Long
EC
CORP
US
N
1
N
N
N
ENCOMPASS HEALTH CORP
549300FVRPM9DRQZRG64
Encompass Health Corporation
29261A100
1934.00000000
NS
USD
195488.72000000
2.232653379694
Long
EC
CORP
US
N
1
N
N
N
THE OPTIONS CLEARING CORPORATION
549300CII6SLYGKNHA04
Valvoline, Inc. 10/16/2026 45 Call
N/A
-11.00000000
NS
USD
-1457.50000000
-0.01664593384
Short
DE
CORP
US
N
1
STONEX GROUP INC
N/A
Call
Written
Valvoline, Inc.
Valvoline, Inc.
100.00000000
45.00000000
USD
2026-10-16
XXXX
127.10000000
N
N
N
LINCOLN ELECTRIC HOLDINGS INC
BIMGBY40SIN95O01BN93
Lincoln Electric Holdings, Inc.
533900106
797.00000000
NS
USD
211611.47000000
2.416789386505
Long
EC
CORP
US
N
1
N
N
N
SPS COMMERCE INC
2549006XVF9GCCETDQ72
SPS Commerce, Inc.
78463M107
1361.00000000
NS
USD
77808.37000000
0.888640123322
Long
EC
CORP
US
N
1
N
N
N
APPLIED INDUSTRIAL TECHNOLOGIES INC
549300NU173IJRC6PO38
Applied Industrial Technologies, Inc.
03820C105
128.00000000
NS
USD
43283.20000000
0.494332270240
Long
EC
CORP
US
N
1
N
N
N
VAIL RESORTS INC
529900PSZHRNU9HKH870
Vail Resorts, Inc.
91879Q109
696.00000000
NS
USD
94760.40000000
1.082247238210
Long
EC
CORP
US
N
1
N
N
N
PPG INDUSTRIES INC
549300BKPEP01R3V6C59
PPG Industries, Inc.
693506107
1071.00000000
NS
USD
129901.59000000
1.483590582316
Long
EC
CORP
US
N
1
N
N
N
CACTUS INC
549300J3T8C9F8QFKV08
Cactus, Inc.
127203107
3700.00000000
NS
USD
189551.00000000
2.164839387021
Long
EC
CORP
US
N
1
N
N
N
BROWN & BROWN INC
549300PC8KTJ71XKFY89
Brown & Brown, Inc.
115236101
2196.00000000
NS
USD
140873.40000000
1.608898317095
Long
EC
CORP
US
N
1
N
N
N
ICON PLC
6354008SRQGEMC4XFI67
ICON plc
G4705A100
398.00000000
NS
USD
69136.58000000
0.789600642929
Long
EC
CORP
IE
N
1
N
N
N
TIDEWATER INC
2549000JA5GRUPLMUH98
Tidewater, Inc.
88642R109
1997.00000000
NS
USD
133060.11000000
1.519663662916
Long
EC
CORP
US
N
1
N
N
N
ARCH CAPITAL GROUP LTD
549300AYR4P8AFKDCE43
Arch Capital Group Ltd.
G0450A105
2365.00000000
NS
USD
229546.90000000
2.621627795626
Long
EC
CORP
BM
N
1
N
N
N
SIMPSON MANUFACTURING CO INC
529900EJUNNL15LZ8056
Simpson Manufacturing Company, Inc.
829073105
691.00000000
NS
USD
144660.85000000
1.652154332290
Long
EC
CORP
US
N
1
N
N
N
ZEBRA TECHNOLOGIES CORP
PO0I32GKZ3HZMMDPZZ08
Zebra Technologies Corporation
989207105
924.00000000
NS
USD
243252.24000000
2.778154850849
Long
EC
CORP
US
N
1
N
N
N
INTERPARFUMS INC
N/A
Interparfums, Inc.
458334109
1703.00000000
NS
USD
190497.58000000
2.175650164421
Long
EC
CORP
US
N
1
N
N
N
MSC INDUSTRIAL DIRECT CO INC
0XVKH0LN6YGOWO2EGO17
MSC Industrial Direct Company, Inc.
553530106
782.00000000
NS
USD
93018.90000000
1.062357774200
Long
EC
CORP
US
N
1
N
N
N
THE OPTIONS CLEARING CORPORATION
549300CII6SLYGKNHA04
Bruker Corporation 12/18/2026 80 Call
N/A
-7.00000000
NS
USD
-3500.00000000
-0.03997308299
Short
DE
CORP
US
N
1
STONEX GROUP INC
N/A
Call
Written
Bruker Corporation
Bruker Corporation
100.00000000
80.00000000
USD
2026-12-18
XXXX
-272.52000000
N
N
N
ETSY INC
54930089Q7XT501AEA40
Etsy, Inc.
29786A106
1607.00000000
NS
USD
121055.31000000
1.382558272423
Long
EC
CORP
US
N
1
N
N
N
CRITEO SA
969500EELFB4RDMFHA76
Criteo S.A.
226718104
16461.00000000
NS
USD
300907.08000000
3.436623909226
Long
EC
CORP
FR
N
1
N
N
N
THE OPTIONS CLEARING CORPORATION
549300CII6SLYGKNHA04
Tidewater, Inc. 07/17/2026 115 Call
N/A
-5.00000000
NS
USD
-5.00000000
-0.00005710440
Short
DE
CORP
US
N
1
STONEX GROUP INC
N/A
Call
Written
Tidewater, Inc.
Tidewater, Inc.
100.00000000
115.00000000
USD
2026-07-17
XXXX
1309.88000000
N
N
N
THE OPTIONS CLEARING CORPORATION
549300CII6SLYGKNHA04
Murphy USA, Inc. 10/16/2026 600 Call
N/A
-2.00000000
NS
USD
-4740.00000000
-0.05413497525
Short
DE
CORP
US
N
1
STONEX GROUP INC
N/A
Call
Written
Murphy USA, Inc.
Murphy USA, Inc.
100.00000000
600.00000000
USD
2026-10-16
XXXX
-1671.23000000
N
N
N
ZOETIS INC
549300HD9Q1LOC9KLJ48
Zoetis, Inc.
98978V103
837.00000000
NS
USD
60146.82000000
0.686929665051
Long
EC
CORP
US
N
1
N
N
N
VERISK ANALYTICS INC
549300I1YSWNIRKBWP67
Verisk Analytics, Inc.
92345Y106
489.00000000
NS
USD
87790.17000000
1.002641071845
Long
EC
CORP
US
N
1
N
N
N
EQUIFAX INC
5493004MCF8JDC86VS77
Equifax, Inc.
294429105
1282.00000000
NS
USD
203479.04000000
2.323909872411
Long
EC
CORP
US
N
1
N
N
N
MURPHY USA INC
549300Y081F8XIKQIO72
Murphy USA, Inc.
626755102
369.00000000
NS
USD
198843.03000000
2.270962554556
Long
EC
CORP
US
N
1
N
N
N
WORTHINGTON ENTERPRISES INC
1WRCIANKYOIK6KYE5E82
Worthington Enterprises, Inc.
981811102
6366.00000000
NS
USD
342236.16000000
3.908638407769
Long
EC
CORP
US
N
1
N
N
N
JACK HENRY & ASSOCIATES INC
529900X1QS8C54W0JB21
Jack Henry & Associates, Inc.
426281101
1405.00000000
NS
USD
193524.70000000
2.210222541276
Long
EC
CORP
US
N
1
N
N
N
ESSENT GROUP LTD
254900QUO860OUT6ZF83
Essent Group Ltd.
G3198U102
1841.00000000
NS
USD
118339.48000000
1.351541101569
Long
EC
CORP
BM
N
1
N
N
N
CORPAY INC
549300DG6RR0NQSFLN74
Corpay, Inc.
219948106
414.00000000
NS
USD
137973.78000000
1.575782102549
Long
EC
CORP
US
N
1
N
N
N
HUB GROUP INC
N/A
Hub Group, Inc.
443320106
6377.00000000
NS
USD
279248.83000000
3.189267616439
Long
EC
CORP
US
N
1
N
N
N
PROCEPT BIOROBOTICS CORP
N/A
PROCEPT BioRobotics Corporation
74276L105
4172.00000000
NS
USD
94203.76000000
1.075889919090
Long
EC
CORP
US
N
1
N
N
N
AVERY DENNISON CORP
549300PW7VPFCYKLIV37
Avery Dennison Corporation
053611109
420.00000000
NS
USD
68187.00000000
0.778755602887
Long
EC
CORP
US
N
1
N
N
N
HOULIHAN LOKEY INC
549300S3CNGTQ1QZVY46
Houlihan Lokey, Inc.
441593100
952.00000000
NS
USD
127691.76000000
1.458352377176
Long
EC
CORP
US
N
1
N
N
N
DECKERS OUTDOOR CORP
5493008LG4W3I6K8J118
Deckers Outdoor Corporation
243537107
1215.00000000
NS
USD
120637.35000000
1.377784801061
Long
EC
CORP
US
N
1
N
N
N
FEDERAL AGRICULTURAL MORTGAGE CORP
549300MS654K78GYF580
Federal Agricultural Mortgage Corporation
313148306
660.00000000
NS
USD
131518.20000000
1.502053692516
Long
EC
USGSE
US
N
1
N
N
N
2026-06-30
VELA Funds
Zachary Richmond
Zachary Richmond
Treasurer
XXXX