Velocity Financial, Inc. (VEL) reports a large passive shareholder position by Beach Point entities. Beach Point Capital Management LP and Beach Point GP LLC together report beneficial ownership of 6,949,566 shares of Velocity Financial common stock, representing 17.9% of the class as of a base of 38,900,030 shares outstanding.
The stake includes 5,995,466 shares held for Beach Point clients and 954,100 shares underlying call options that are exercisable within 60 days. Beach Point has shared voting and dispositive power over these shares in its role as investment adviser but states that all securities are owned by its clients and disclaims beneficial ownership. The position is certified as being held in the ordinary course of business and not for the purpose of changing or influencing control of Velocity Financial.
Positive
None.
Negative
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Insights
Beach Point reports a sizable, passive 17.9% stake held for clients.
Beach Point Capital and Beach Point GP disclose beneficial ownership of 6,949,566 Velocity Financial shares, or 17.9% of the common stock, based on 38,900,030 shares outstanding as of October 31, 2025. The position combines 5,995,466 shares plus 954,100 shares from call options exercisable within 60 days.
The filing clarifies that the securities are owned by investment advisory clients, including Beach Point Securitized Credit Fund LP and Beach Point TX SCF LP. Beach Point has shared voting and dispositive power, yet both Beach Point Capital and Beach Point GP disclaim beneficial ownership beyond their advisory roles.
The certification states the holdings are in the ordinary course of business and not aimed at changing or influencing control of Velocity Financial. Future ownership updates would appear in subsequent Schedule 13D/G filings covering later periods, if required.
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13G
UNDER THE SECURITIES EXCHANGE ACT OF 1934
(Amendment No. 6)
Velocity Financial, Inc.
(Name of Issuer)
Common Stock, par value $0.01 per share
(Title of Class of Securities)
92262D101
(CUSIP Number)
12/31/2025
(Date of Event Which Requires Filing of this Statement)
Check the appropriate box to designate the rule pursuant to which this Schedule is filed:
Rule 13d-1(b)
Rule 13d-1(c)
Rule 13d-1(d)
SCHEDULE 13G
CUSIP No.
92262D101
1
Names of Reporting Persons
Beach Point Capital Management LP
2
Check the appropriate box if a member of a Group (see instructions)
(a)
(b)
3
Sec Use Only
4
Citizenship or Place of Organization
DELAWARE
Number of Shares Beneficially Owned by Each Reporting Person With:
5
Sole Voting Power
0.00
6
Shared Voting Power
6,949,566.00
7
Sole Dispositive Power
0.00
8
Shared Dispositive Power
6,949,566.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
6,949,566.00
10
Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)
11
Percent of class represented by amount in row (9)
17.9 %
12
Type of Reporting Person (See Instructions)
IA
Comment for Type of Reporting Person: **see Note 1**
SCHEDULE 13G
CUSIP No.
92262D101
1
Names of Reporting Persons
Beach Point GP LLC
2
Check the appropriate box if a member of a Group (see instructions)
(a)
(b)
3
Sec Use Only
4
Citizenship or Place of Organization
DELAWARE
Number of Shares Beneficially Owned by Each Reporting Person With:
5
Sole Voting Power
0.00
6
Shared Voting Power
6,949,566.00
7
Sole Dispositive Power
0.00
8
Shared Dispositive Power
6,949,566.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
6,949,566.00
10
Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)
11
Percent of class represented by amount in row (9)
17.9 %
12
Type of Reporting Person (See Instructions)
HC
Comment for Type of Reporting Person: **see Note 1**
SCHEDULE 13G
Item 1.
(a)
Name of issuer:
Velocity Financial, Inc.
(b)
Address of issuer's principal executive offices:
2945 Townsgate Road, Suite 110, Westlake Village, California, 91361
Item 2.
(a)
Name of person filing:
Beach Point Capital Management LP ("Beach Point Capital")
Beach Point GP LLC ("Beach Point GP")
(b)
Address or principal business office or, if none, residence:
c/o Beach Point Capital Management LP, 1620 26th Street, Suite 6000n, Santa Monica, CA 90404
(c)
Citizenship:
Beach Point Capital - Delaware
Beach Point GP - Delaware
(d)
Title of class of securities:
Common Stock, par value $0.01 per share
(e)
CUSIP No.:
92262D101
Item 3.
If this statement is filed pursuant to §§ 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:
(a)
Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o);
(b)
Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c);
(c)
Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c);
(d)
Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8);
(e)
An investment adviser in accordance with § 240.13d-1(b)(1)(ii)(E);
(f)
An employee benefit plan or endowment fund in accordance with § 240.13d-1(b)(1)(ii)(F);
(g)
A parent holding company or control person in accordance with § 240.13d-1(b)(1)(ii)(G);
(h)
A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);
(i)
A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3);
(j)
A non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J). If filing as a non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J),
please specify the type of institution:
(k)
Group, in accordance with Rule 240.13d-1(b)(1)(ii)(K).
Item 4.
Ownership
(a)
Amount beneficially owned:
6,949,566 by each of Beach Point Capital and Beach Point GP (collectively, "Beach Point"). **see Note 1**
The Common Stock reported as beneficially owned by Beach Point in this Schedule 13G includes 5,995,466 shares of Common Stock held by certain clients of Beach Point (the "Clients") and 954,100 shares of Common Stock underlying call options beneficially owned by the Clients that are exercisable within 60 days.
(b)
Percent of class:
17.9% by each of Beach Point Capital and Beach Point GP. The percent of class is based on 38,900,030 shares of Common Stock outstanding as of October 31, 2025, as reported in the Issuer's quarterly report on Form 10-Q filed on November 7, 2025.
(c)
Number of shares as to which the person has:
(i) Sole power to vote or to direct the vote:
Beach Point Capital - 0
Beach Point GP - 0
(ii) Shared power to vote or to direct the vote:
Beach Point Capital - 6,949,566 **see Note 1**
Beach Point GP - 6,949,566 **see Note 1**
(iii) Sole power to dispose or to direct the disposition of:
Beach Point Capital - 0
Beach Point GP - 0
(iv) Shared power to dispose or to direct the disposition of:
Beach Point Capital - 6,949,566 **see Note 1**
Beach Point GP - 6,949,566 **see Note 1**
Item 5.
Ownership of 5 Percent or Less of a Class.
Not Applicable
Item 6.
Ownership of more than 5 Percent on Behalf of Another Person.
If any other person is known to have the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of, such securities, a statement to that effect should be included in response to this item and, if such interest relates to more than 5 percent of the class, such person should be identified. A listing of the shareholders of an investment company registered under the Investment Company Act of 1940 or the beneficiaries of employee benefit plan, pension fund or endowment fund is not required.
While Beach Point Capital and Beach Point GP may each be deemed the beneficial owner of the shares of Common Stock of the Issuer, each of the reporting persons is the beneficial owner of such stock on behalf of the Clients, including Beach Point Securitized Credit Fund LP and Beach Point TX SCF LP, who have the right to receive and the power to direct the receipt of the dividends from, or the proceeds of the sale of, such Common Stock.
Item 7.
Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person.
If a parent holding company has filed this schedule, pursuant to Rule 13d-1(b)(ii)(G), so indicate under Item 3(g) and attach an exhibit stating the identity and the Item 3 classification of the relevant subsidiary. If a parent holding company has filed this schedule pursuant to Rule 13d-1(c) or Rule 13d-1(d), attach an exhibit stating the identification of the relevant subsidiary.
See Exhibit I
Item 8.
Identification and Classification of Members of the Group.
Not Applicable
Item 9.
Notice of Dissolution of Group.
Not Applicable
Item 10.
Certifications:
By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under ?? 240.14a-11.
SIGNATURE
After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.
Beach Point Capital Management LP
Signature:
/s/ David Rosenblum
Name/Title:
David Rosenblum, General Counsel
Date:
02/13/2026
Beach Point GP LLC
Signature:
/s/ David Rosenblum
Name/Title:
David Rosenblum, General Counsel
Date:
02/13/2026
Comments accompanying signature: ** Note 1 ** Beach Point Capital, an investment adviser registered under Section 203 of the Investment Advisers Act of 1940, furnishes investment advice to the Clients. In its role as investment adviser, Beach Point Capital possesses voting and investment power over the shares of Common Stock of the Issuer described in this schedule that are owned by the Clients, and may be deemed to be the beneficial owner of the shares of Common Stock of the Issuer held by the Clients. However, all securities reported in this schedule are owned by the Clients. Beach Point Capital disclaims beneficial ownership of such securities. Beach Point GP is the sole general partner of Beach Point Capital. As a result, Beach Point GP may be deemed to share beneficial ownership of the shares of Common Stock of the Issuer held by the Clients. Beach Point GP disclaims beneficial ownership of such securities.
Exhibit Information
Exhibit I - Identification and Classification of the Subsidiary which Acquired the Security Being Reported on by the Parent Holding Company or Control Person
Exhibit II - Joint Filing Agreement
How many Velocity Financial (VEL) shares does Beach Point report owning?
Beach Point reports beneficial ownership of 6,949,566 Velocity Financial common shares. This total includes 5,995,466 shares held for advisory clients and 954,100 shares underlying call options exercisable within 60 days, all reflected in the Schedule 13G/A amendment.
What percentage of Velocity Financial (VEL) does Beach Point’s stake represent?
Beach Point’s reported beneficial ownership represents 17.9% of Velocity Financial’s common stock. The percentage is calculated using 38,900,030 shares outstanding as of October 31, 2025, as disclosed in the company’s Form 10-Q referenced in the filing.
Who actually owns the Velocity Financial (VEL) shares reported by Beach Point?
The shares are owned by Beach Point’s investment advisory clients, not Beach Point itself. Clients include Beach Point Securitized Credit Fund LP and Beach Point TX SCF LP. Beach Point exercises voting and investment power as adviser but disclaims ultimate beneficial ownership of the securities.
Does Beach Point intend to influence control of Velocity Financial (VEL)?
The filing states the securities are not held to change or influence control. Beach Point certifies the shares were acquired and are held in the ordinary course of business, not in connection with any transaction aimed at altering control of Velocity Financial.
What types of securities make up Beach Point’s Velocity Financial (VEL) position?
The position combines common stock and call options on common stock. Beach Point’s clients hold 5,995,466 shares of Velocity Financial common stock and call options representing 954,100 additional shares that are exercisable within 60 days of the reporting date.
Which Beach Point entities are reporting ownership in Velocity Financial (VEL)?
Beach Point Capital Management LP and Beach Point GP LLC are the reporting persons. Both entities are organized in Delaware and report shared voting and dispositive power over 6,949,566 Velocity Financial common shares held on behalf of their investment advisory clients.
