VELIX — VELA Large Cap Plus Fund
Data updated: 2026-08-27
VELIX — VELA Large Cap Plus Fund. United States Large Cap Value Equity · $65.58M AUM · 1.02% expense ratio. Holdings, fees, performance and SEC filings.
VELIX Fund Overview
VELIX — VELA Large Cap Plus Fund is a US mutual fund managed by VELA Funds, categorised as United States Large Cap Value Equity. ABC INVEST provides holdings, performance, costs, cashflows, risk data, prospectus documents and SEC filings, sourced from SEC filings.
- Type: US mutual fund
- Manager: VELA Funds
- Category: United States Large Cap Value Equity
- Assets under management: $65.58M
- 1-year return: 4.3%
- Ticker: VELIX
- SEC CIK: 0001815493
- SEC series ID: S000069563
- Share class ID: C000221921
VELIX Investment Objective and Strategy
VELA Large Cap Plus Fund describes its objective and strategy as follows, from its latest prospectus filed with the SEC by VELA Funds.
Investment objective
The investment objective of the VELA Large Cap Plus Fund is to provide long-term capital appreciation.
Principal investment strategy
The fund, under normal market conditions, invests at least 80% of its net assets in long and short positions in U.S. equity securities with large market capitalizations. The fund will: (i) invest its assets in U.S. equity securities of companies with market capitalizations within the range of the market capitalizations for the Russell 1000 Index that the Adviser believes are undervalued and (ii) sell short U.S. equity securities with market capitalizations within the range of the market capitalizations for the Russell 1000 Index that the Adviser believes are overvalued or have worse prospects than other investment opportunities. Equity securities consist of common and preferred stocks. The capitalization range of the Russell 1000 Index is between $994.41 million and $4.54 trillion as of September 30, 2025.
The size of the companies included in the Russell 1000 Index will change with market conditions. In addition, the fund may, under certain circumstances, invest in securities of small and mid capitalization companies. Under normal market conditions, the fund intends to maintain its net exposure in the range of 80% - 100% (long market value minus short market value). However, the long and short positions held by the fund will vary in size as market opportunities change. The funds long positions and their equivalents will generally range between 100% and 140% of the value of the funds net assets. The funds short positions will generally range between 0% and 40% of the value of the funds net assets. The Adviser focuses on estimating a companys value independent of its current stock price. To estimate a companys value, the Adviser concentrates on the fundamental economic drivers of the business.
The primary focus is on bottom-up analysis, which takes into consideration earnings, revenue growth, operating margins, balance sheet strength, free cash flow generation, management stewardship, and other economic factors. The Adviser also typically considers the level of industry competition, regulatory factors, the threat of technological obsolescence, and a variety of other industry factors. If the Advisers estimate of a companys value differs sufficiently from the current market price, the company may be an attractive investment opportunity. In constructing a portfolio of securities, the Adviser is not constrained by the sector or industry weights in the benchmark. The Adviser relies on individual stock selection and discipline in the investment process to add value. The highest portfolio security weights are assigned to companies where the Adviser has the highest level of conviction.
The fund will sell securities short. Short sales are effected when it is believed that the price of a particular security will decline, and involves the sale of a security which the fund does not own in hopes of purchasing the same security at a later date at a lower price. Additionally, the fund may sell a security short if the fund managers expect the security to underperform a relevant benchmark and/or long positions in the portfolio. The fund may also sell securities of exchange traded funds (ETFs) short to hedge its exposure to specific market sectors or if it believes a specific sector or asset will decline in value. Using short sale proceeds to invest in a long position with a higher expected return increases the funds long exposure and can result in a positive net return even if the security sold short increases in price as long as the long position outperforms the short position inclusive of all fees and dividends associated with the short sale.
Conversely, using short sale proceeds to increase the funds long exposure can result in greater losses to the fund if both positions decrease in value or if losses in the long position exceed any gains on the short position. To make delivery to the buyer, the fund must borrow the security, and the fund is obligated to return the security to the lender, which is accomplished by a later purchase of the security by the fund. The frequency of short sales will vary substantially in different periods, and it is not intended that any specified portion of the funds assets will as a matter of practice be invested in short sales. The fund will not make a short sale if, immediately before the transaction, the market value of all securities sold short exceeds 40% of the value of the funds net assets. Once a stock is owned by the fund or sold short, the Adviser continues to monitor the companys strategies, financial performance, and competitive environment.
The Adviser may cause the fund to sell a security (or repurchase a security sold short) as it reaches or exceeds the Advisers estimate of the companys value, if the Adviser believes that the companys earnings, revenue growth, operating margin or other economic factors are deteriorating (or improving in the case of a short sale), if the original investment thesis leading to the purchase of the companys stock no longer applies (or no longer applies in the case of a short sale), or, if the Adviser identifies a stock that it believes offers a better investment opportunity. The fund may also invest in various types of derivative instruments (such as options, futures contracts, and forward contracts) to gain or hedge exposure to certain types of securities as an alternative to investing directly in or selling such securities.
The fund may buy and sell (write) put options or buy and sell covered call options to gain or hedge exposure and generate additional income.
VELIX Holdings
Top 10 holdings of VELA Large Cap Plus Fund by percentage of net assets, from the fund's latest SEC N-PORT filing.
| Holding | % of net assets |
|---|---|
| First American Funds, Inc. | 9.55% |
| Amazon.com, Inc. | 5.32% |
| Alphabet, Inc. | 5.02% |
| Microsoft Corp. | 4.44% |
| Johnson & Johnson | 2.80% |
| Baker Hughes Company | 2.67% |
| Thermo Fisher Scientific, Inc. | 2.56% |
| Berkshire Hathaway, Inc. | 2.55% |
| Booking Holdings, Inc. | 2.55% |
| Citigroup, Inc. | 2.35% |
VELIX Portfolio Allocation
Asset-class allocation of VELA Large Cap Plus Fund by percentage of net assets, from the latest SEC N-PORT filing.
| Asset class | Allocation |
|---|---|
| Equity | 93.2% |
| Cash & Equivalents | 9.5% |
| Derivatives | 2.0% |
VELIX Performance
Total returns for VELIX (as of 2026-10-01), from SEC filings.
| Period | Total return |
|---|---|
| YTD | -1.4% |
| 1 year | 4.3% |
| 3 years (annualised) | 10.0% |
| 5 years (annualised) | 7.4% |
VELIX Risk Information
Risk metrics for VELIX, derived from monthly returns in SEC filings.
- 1-year volatility (annualised): 8.3%
VELIX Costs and Fees
VELIX costs about $102 per $10,000 invested per year in fund expenses.
- Net expense ratio: 1.02%
- Gross expense ratio: 0.41%
- Portfolio turnover: 67%
- Brokerage commissions: 12.46 bps of average net assets (SEC N-CEN)
VELIX Cashflows
Over the 12 months to 2026-06, VELA Large Cap Plus Fund had net outflows of $856.76K, from monthly SEC N-PORT filings.
| Month | Net flow |
|---|---|
| 2026-06 | −$169.26K |
| 2026-05 | −$677.45K |
| 2026-04 | −$959.98K |
| 2026-03 | −$124.92K |
| 2026-02 | −$123.77K |
| 2026-01 | $45.12K |
VELIX Debt Constituents
No individual debt constituents are reported in VELA Large Cap Plus Fund's latest SEC N-PORT filing.
VELIX Prospectus and SEC Filings
Official VELA Large Cap Plus Fund filings on SEC EDGAR — prospectus, portfolio holdings and annual reports.
- Prospectus (485BPOS) — filed 2026-01-27
- Prospectus (485BPOS) — filed 2025-01-27
- Prospectus supplement (497) — filed 2025-09-02
- Portfolio holdings (N-PORT) — filed 2026-08-27
- Portfolio holdings (N-PORT) — filed 2026-05-29
- Portfolio holdings (N-PORT) — filed 2026-02-27
- Annual census (N-CEN) — filed 2025-12-12
- Annual census (N-CEN) — filed 2024-12-13
Related Funds
Other United States Large Cap Value Equity funds tracked on ABC INVEST:
Data Sources
ABC INVEST compiles this page from public filings made to the U.S. Securities and Exchange Commission (SEC) through EDGAR: portfolio holdings and monthly cashflows from Form N-PORT, expenses and returns from fund prospectuses (Form 485BPOS) and the SEC DERA Risk/Return Summary data sets, annual data from Form N-CEN, and shareholder reports from Form N-CSR.