VELA SHORT DURATION FUND
VELA Funds

Portfolio moves

Net position changes between two of this fund's N-PORT snapshots. These are differences between point-in-time reports — not a trade log — and share counts can be affected by splits and other corporate actions.

Dec 31, 2025 → Mar 31, 2026

Expand a category to see the positions behind it, ranked by weight.

Security Shares Dec 2025 Shares Mar 2026 Δ shares End % Δ value
OAKTREE STRATEG 0 450,000 450,000 1.07% $471.21K
GMAC LLC 0 400,000 400,000 1.01% $444.19K
Citadel Finance LLC 0 450,000 450,000 1.00% $441.19K
JETBLUE AIRWAYS 0 461,551 461,551 1.00% $438.23K
Trustmark Corp. 0 418,000 418,000 0.95% $417.00K
Government National Mortgage Association 0 410,893 410,893 0.94% $412.82K
COLONIAL PIPELINE CO 144A 8.375000% 11/01/2030 0 350,000 350,000 0.89% $393.35K
US TREASURY N/B 0 350,000 350,000 0.80% $354.01K
CONAGRA BRANDS 0 350,000 350,000 0.79% $349.47K
FLOWERS FOODS 0 400,000 400,000 0.77% $338.43K
C V6.875 PERP GG 0 314,000 314,000 0.72% $316.35K
US TREASURY N/B 0 300,000 300,000 0.69% $302.53K
Goldman Sachs Group, Inc./The 0 300,000 300,000 0.68% $300.07K
M/I HOMES INC REGD 4.95000000 0 300,000 300,000 0.67% $296.26K
GLOBAL PAY INC 0 286,000 286,000 0.59% $261.46K
Wells Fargo & Co. 0 250,000 250,000 0.57% $250.70K
ORACLE CORP 0 152,000 152,000 0.36% $156.78K
Security Shares Dec 2025 Shares Mar 2026 Δ shares End % Δ value
OAKTREE STRATEG 450,000 0 -450,000 0.00% -$485.33K
AS 6.75 02/16/31 144A 400,000 0 -400,000 0.00% -$419.71K
FORD MOTOR CREDIT CO LLC SR UNSECURED 03/26 VAR 400,000 0 -400,000 0.00% -$401.44K
United Airlines Pass Through Certificates, Series 2015-1 375,000 0 -375,000 0.00% -$374.76K
AR 7.625 02/01/29 144A 350,000 0 -350,000 0.00% -$356.59K
ET 5.625 05/01/27 144A 350,000 0 -350,000 0.00% -$350.03K
American Airlines Inc 300,000 0 -300,000 0.00% -$314.00K
ALBERTSONS COS/SAFEWAY REGD 144A P/P 5.87500000 300,000 0 -300,000 0.00% -$302.17K
INSTALLED BUILDING PRODU REGD 144A P/P 5.75000000 300,000 0 -300,000 0.00% -$301.35K
M&T Bank Corp., Series G 264,000 0 -264,000 0.00% -$265.18K
Federal Home Loan Banks 250,000 0 -250,000 0.00% -$250.12K
WMS 5 09/30/27 144A 200,000 0 -200,000 0.00% -$200.45K
US TREASURY N/B 200,000 0 -200,000 0.00% -$200.43K
US TREASURY N/B 200,000 0 -200,000 0.00% -$200.27K
Goldman Sachs Group, Inc. (The) 200,000 0 -200,000 0.00% -$200.26K
US TREASURY N/B 200,000 0 -200,000 0.00% -$200.08K
C V3.875 PERP X 200,000 0 -200,000 0.00% -$200.06K
Wells Fargo & Co., Series BB 200,000 0 -200,000 0.00% -$199.50K
REALTY INCOME CORP SR UNSECURED 01/26 5.05 160,000 0 -160,000 0.00% -$160.03K
CONCENTRIX CORP 150,000 0 -150,000 0.00% -$154.83K
AM AIRLN 16-1 AA 142,983 0 -142,983 0.00% -$141.61K
Federal Home Loan Banks 135,000 0 -135,000 0.00% -$135.06K
Hyundai Auto Receivables Trust, Series 2022-A, Class A4 87,186 0 -87,186 0.00% -$87.04K
Security Shares Dec 2025 Shares Mar 2026 Δ shares End % Δ value
FIRST AM-TR OB-X 766,299 1,939,968 1,173,670 4.41% $1.17M
CANTOR FITZGERALD LP SR UNSECURED 144A 12/28 7.2 400,000 500,000 100,000 1.18% $94.40K
ESSENT GROUP LTD 400,000 500,000 100,000 1.18% $99.44K
Royal Caribbean Cruises Ltd. 450,000 500,000 50,000 1.16% $45.13K
MGIC INVT CORP 459,000 475,000 16,000 1.08% $14.90K
FORD MOTOR CRED 200,000 450,000 250,000 1.03% $250.64K
VIKING OCEAN CRUISES SHI SR SECURED 144A 02/29 5.625 356,000 454,000 98,000 1.03% $95.73K
US TREASURY N/B 350,000 450,000 100,000 1.02% $97.88K
ATI INC REGD 5.87500000 250,000 450,000 200,000 1.02% $198.98K
US TREASURY N/B 350,000 450,000 100,000 1.02% $97.62K
Greystar Real Estate Partners, LLC 250,000 424,000 174,000 1.00% $177.57K
OHNAT 5.55 01/24/30 388,000 438,000 50,000 1.00% $47.64K
Necessity Retail REIT Inc (The) / American Finance Operating Partner, L.P. 300,000 450,000 150,000 0.99% $141.21K
AS Mileage Plan IP Ltd. 300,000 440,000 140,000 0.99% $131.61K
RADIAN GROUP INC 350,000 400,000 50,000 0.94% $46.27K
UNTD AIR 16-2 A 421,549 421,550 1 0.92% $652
US TREASURY N/B 350,000 400,000 50,000 0.92% $48.04K
US TREASURY N/B 300,000 400,000 100,000 0.91% $98.11K
US TREASURY N/B 300,000 400,000 100,000 0.91% $98.06K
US TREASURY N/B 350,000 400,000 50,000 0.91% $48.01K
ANTERO MIDSTREAM PARTNERS LP / COMPANY GUAR 144A 06/29 5.375 350,000 400,000 50,000 0.91% $48.65K
PRUDENTIAL FIN 360,000 391,000 31,000 0.88% $22.57K
LPX 3 5/8 03/15/29 250,000 400,000 150,000 0.87% $141.36K
VENTURE GLOBAL CALCASIEU SR SECURED 144A 08/29 3.875 350,000 400,000 50,000 0.86% $52.04K
XEC 4.375 03/15/29 370,000 380,000 10,000 0.83% $7.66K
US TREASURY N/B 300,000 350,000 50,000 0.81% $47.89K
US TREASURY N/B 300,000 350,000 50,000 0.80% $47.98K
US TREASURY N/B 300,000 350,000 50,000 0.80% $47.62K
STELLANTIS FINL SVC US CORP FRN SOFR+169 09/15/2028 144A 300,000 350,000 50,000 0.80% $48.69K
US TREASURY N/B 300,000 350,000 50,000 0.79% $47.46K
Brink's Co. (The) 250,000 300,000 50,000 0.69% $45.83K
Group 1 Automotive, Inc. 200,000 300,000 100,000 0.66% $94.21K
SCHW V4 PERP I 145,000 174,000 29,000 0.39% $28.62K
Security Shares Dec 2025 Shares Mar 2026 Δ shares End % Δ value
CVS Pass-Through Trust 463,796 446,949 -16,847 1.03% -$17.67K
IAGLN 3.35 06/15/29 144A 463,945 430,806 -33,139 0.95% -$33.19K
Fannie Mae REMICS 339,116 289,305 -49,811 0.66% -$52.02K
FNMA, REMIC, Series 2025-58, Class CA 281,769 270,755 -11,014 0.62% -$12.59K
Freddie Mac REMICS 292,046 263,777 -28,269 0.60% -$29.28K
BMWOT 2024-A A3 246,403 198,714 -47,689 0.45% -$48.65K
GMCAR 2024-1 A3 207,244 164,541 -42,703 0.38% -$43.35K
WINNEBAGO INDUSTRIES REGD 144A P/P 6.25000000 329,000 165,000 -164,000 0.38% -$164.78K
Fannie Mae REMICS 181,424 153,142 -28,282 0.35% -$28.85K
Elm Road Generating Station Supercritical LLC 165,752 149,173 -16,579 0.34% -$17.55K
HAROT 2023-4 A3 177,173 138,441 -38,732 0.32% -$39.48K
Government National Mortgage Association 69,513 41,381 -28,132 0.09% -$28.30K
Security Shares Dec 2025 Shares Mar 2026 Δ shares End % Δ value
US TREASURY N/B 450,000 450,000 0 1.03% -$2.67K
US TREASURY N/B 450,000 450,000 0 1.03% -$1.74K
US TREASURY N/B 450,000 450,000 0 1.03% -$1.66K
US TREASURY N/B 450,000 450,000 0 1.03% -$1.65K
US TREASURY N/B 450,000 450,000 0 1.03% -$1.60K
US TREASURY N/B 450,000 450,000 0 1.03% -$1.32K
ANTARES HOLDINGS SR UNSECURED 144A 10/29 6.35 450,000 450,000 0 1.01% -$14.16K
US TREASURY N/B 450,000 450,000 0 1.01% -$494
Vine Engergy Holdings LLC 443,000 443,000 0 1.01% -$2.35K
US TREASURY N/B 400,000 400,000 0 0.92% -$2.68K
GENERAL MTRS FINL CO INC FRN SOFRINDX+135 05/08/2027 400,000 400,000 0 0.91% $96
US TREASURY N/B 400,000 400,000 0 0.91% -$1.42K
KeyCorp Capital I 400,000 400,000 0 0.89% -$1.23K
Ares Finance Company III, LLC 4.125%, Fixed until 06/30/2026 375,000 375,000 0 0.84% -$905
NMRK 7.5 01/12/29 350,000 350,000 0 0.83% -$8.66K
First National of Nebraska Inc 350,000 350,000 0 0.82% -$3.00K
Carnival Corp 350,000 350,000 0 0.82% -$5.65K
AMER ELEC PWR 350,000 350,000 0 0.82% -$6.28K
Assured Guaranty US Holdings Inc. 439,000 439,000 0 0.82% -$16.50K
URI 6 12/15/29 144A 350,000 350,000 0 0.81% -$3.92K
XPO INC REGD 144A P/P 6.25000000 350,000 350,000 0 0.81% -$2.59K
NSANY 6.95 09/15/26 144A 350,000 350,000 0 0.80% -$3.07K
ARES CAPITAL COR 350,000 350,000 0 0.80% -$7.78K
US TREASURY N/B 350,000 350,000 0 0.80% -$381
MATTEL INC REGD 144A P/P 5.87500000 350,000 350,000 0 0.80% -$80
US TREASURY N/B 350,000 350,000 0 0.79% -$227
SMITHFIELD FOODS INC 144A 4.250000% 02/01/2027 350,000 350,000 0 0.79% -$573
STANLEY BLACK 350,000 350,000 0 0.78% -$8.88K
HFC PRESTIGE PRODUCTS INC/HFC PRESTIGE INTERNATIONAL US LLC 4.75% 01/15/2029 144A 350,000 350,000 0 0.77% -$5.48K
CENTENE CORP 350,000 350,000 0 0.74% -$2.00K
US TREASURY N/B 300,000 300,000 0 0.70% -$3.11K
SUNOCO LP / SUNOCO FIN CORP 7% 09/15/2028 144A 300,000 300,000 0 0.70% -$3.47K
US TREASURY N/B 300,000 300,000 0 0.70% -$2.86K
US TREASURY N/B 300,000 300,000 0 0.69% -$2.70K
American Express Co. 300,000 300,000 0 0.69% -$739
US TREASURY N/B 300,000 300,000 0 0.69% -$2.51K
JPMORGAN CHASE + CO SR UNSECURED 02/28 VAR 300,000 300,000 0 0.69% -$1.09K
US TREASURY N/B 300,000 300,000 0 0.68% -$2.34K
US TREASURY N/B 300,000 300,000 0 0.68% -$2.21K
US TREASURY N/B 300,000 300,000 0 0.68% -$2.16K
NXST 5.625 07/15/27 144A 300,000 300,000 0 0.68% -$1.69K
US TREASURY N/B 300,000 300,000 0 0.68% -$2.06K
US TREASURY N/B 300,000 300,000 0 0.68% -$2.04K
NORDSTROM INC SR SECURED 03/27 4 300,000 300,000 0 0.67% -$3.76K
PRIME HEALTHCARE FOUNDATION INC 7% 12/01/2027 260,000 260,000 0 0.61% -$2.81K
POLARIS INC SR NT 6.95%, DUE 03/15/2029 250,000 250,000 0 0.60% -$3.73K
DISCOVER BANK SUBORDINATED 08/28 VAR 250,000 250,000 0 0.58% -$3.68K
HYUNDAI CAPITAL AMERICA SR UNSECURED 144A 01/27 VAR 250,000 250,000 0 0.57% -$271
US TREASURY N/B 250,000 250,000 0 0.57% -$628
US TREASURY N/B 250,000 250,000 0 0.57% -$899
Volkswagen Group of America Finance LLC 4.90 08/14/2026 250,000 250,000 0 0.57% -$680
US TREASURY N/B 250,000 250,000 0 0.57% -$815
US TREASURY N/B 250,000 250,000 0 0.57% -$510
CarVal CLO VII-C Ltd., Series 2023-1A, Class A1R 250,000 250,000 0 0.57% -$625
Ford Credit Auto Owner Trust, Series 2024-C, Class A3 250,000 250,000 0 0.57% -$814
MADISON PK FDG XXXVII LLC AR2 TSFR3M+153 04/15/2037 144A 250,000 250,000 0 0.57% -$612
Huntington Bancshares, Inc. Series G, 4.450%, to 10/15/2027 250,000 250,000 0 0.56% -$94
The PNC Financial Services Group, Inc. 250,000 250,000 0 0.56% -$8
USB V3.7 PERP 250,000 250,000 0 0.56% $626
Bank OZK 250,000 250,000 0 0.55% $4.20K
SM Energy Company 200,000 200,000 0 0.47% -$699
BANK OF AMERICA CORP SR UNSECURED 09/27 VAR 150,000 150,000 0 0.34% -$355
HYUNDAI CAPITAL AMERICA SR UNSECURED 144A 03/27 VAR 150,000 150,000 0 0.34% -$311
BOSTON PROP LP 100,000 100,000 0 0.23% $90

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