# EDGAR Filing Document

**Accession Number:** 0001815493
**File Stem:** 0001580642-25-007932
**Filing Date:** 2025-12
**Character Count:** 4823
**Document Hash:** 5e0fa04ed7a35297f0784601ce1fd14d
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001580642-25-007932.hdr.sgml**: 20251219

**ACCESSION NUMBER**: 0001580642-25-007932

**CONFORMED SUBMISSION TYPE**: 24F-2NT

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20250930

**FILED AS OF DATE**: 20251219

**DATE AS OF CHANGE**: 20251219

**EFFECTIVENESS DATE**: 20251219

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** VELA Funds
- **CENTRAL INDEX KEY:** 0001815493

**ORGANIZATION NAME:**
- **EIN:** 000000000
- **STATE OF INCORPORATION:** DE

**FILING VALUES:**
- **FORM TYPE:** 24F-2NT
- **SEC ACT:** 1933 Act
- **SEC FILE NUMBER:** 333-239642
- **FILM NUMBER:** 251587120

**BUSINESS ADDRESS:**
- **STREET 1:** 220 MARKET STREET
- **STREET 2:** SUITE 208
- **CITY:** NEW ALBANY
- **STATE:** OH
- **ZIP:** 43054
- **BUSINESS PHONE:** 614-653-2178

**MAIL ADDRESS:**
- **STREET 1:** 220 MARKET STREET
- **STREET 2:** SUITE 208
- **CITY:** NEW ALBANY
- **STATE:** OH
- **ZIP:** 43054

## Series and Classes Contracts Data

### VELA International Fund (Series ID: S000069562)

---

|  |  |
|:---|:---|
| Class Name | Class ID   |
| Class I    | C000221919 |
| Class A    | C000221920 |

---

### VELA Large Cap Plus Fund (Series ID: S000069563)

---

|  |  |
|:---|:---|
| Class Name | Class ID   |
| Class I    | C000221921 |
| Class A    | C000221922 |

---

### VELA Small Cap Fund (Series ID: S000069564)

---

|  |  |
|:---|:---|
| Class Name | Class ID   |
| Class I    | C000221923 |
| Class A    | C000221924 |

---

### VELA Income Opportunities Fund (Series ID: S000075683)

---

|  |  |
|:---|:---|
| Class Name                             | Class ID   |
| VELA Income Opportunities Fund Class A | C000234952 |
| VELA Income Opportunities Fund Class I | C000234953 |

---

### VELA Short Duration Fund (Series ID: S000083352)

---

|  |  |
|:---|:---|
| Class Name                         | Class ID   |
| VELA Short Duration Fund - Class A | C000246925 |
| VELA Short Duration Fund - Class I | C000246926 |

---

## Series and Classes Contracts Data

### VELA International Fund (Series ID: S000069562)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000221919 | Class I      |  |
| C000221920 | Class A      |  |

### VELA Large Cap Plus Fund (Series ID: S000069563)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000221921 | Class I      |  |
| C000221922 | Class A      |  |

### VELA Small Cap Fund (Series ID: S000069564)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000221923 | Class I      |  |
| C000221924 | Class A      |  |

### VELA Income Opportunities Fund (Series ID: S000075683)

| Class ID   | Class Name                             | Ticker Symbol   |
|:---|:---|:---|
| C000234952 | VELA Income Opportunities Fund Class A |  |
| C000234953 | VELA Income Opportunities Fund Class I |  |

### VELA Short Duration Fund (Series ID: S000083352)

| Class ID   | Class Name                         | Ticker Symbol   |
|:---|:---|:---|
| C000246925 | VELA Short Duration Fund - Class A |  |
| C000246926 | VELA Short Duration Fund - Class I |  |

## FORM 24F-2NT: Annual Notice of Securities Sold Pursuant to Rule 24f-2

### 24F-2NT: Filer Information

**Filer CIK:** 0001815493

**Is this a LIVE or TEST Filing?:** LIVE

**Filer Investment Company Type:** N-1A

### 24F-2NT: Annual Filing Information

**1. Name and address of issuer:**

- **Name of Issuer:** VELA Funds

- **Address:** 220 Market Street Suite 208, New Albany, OH 43054

**2. The Name and EDGAR Identifier of each series or class of securities for which this Form is filed:**

- [ ] Check box if the Form is being filed for all series and classes of the issuer.

**3. Investment Company Act File Number:** 811-23585

   **Securities Act File Number:** 333-239642

**4(a). Last day of fiscal year for which this Form is filed:** 09/30/2025

**4(b). Check box if this Form is being filed late:** [ ]

**4(c). Check box if this is the last time the issuer will be filing this Form:** [ ]

**5. Calculation of registration fee:**

- **(i) Aggregate sale price of securities sold during the fiscal year:** $93263039.00

- **(ii) Aggregate price of securities redeemed or repurchased during the fiscal year:** $32129842.00

- **(iii) Aggregate price of securities redeemed or repurchased during any prior fiscal year:** $0.00

- **(iv) Total available redemption credits [add Items 5(ii) and 5(iii)]:** $32129842.00

- **(v) Net sales:** $61133197.00

- **(vi) Redemption credits available for use in future years:** $0.00

- **(vii) Multiplier for determining registration fee:** 0.000138100

- **(viii) Registration fee due:** $8442.49

**Signatures**

**Name and Title:** Treasurer and Principal Financial Officer

**Date:** 12/18/2025

**Signature:** /s/ Zachary P. Richmond