DC Investments Sells Off 194K WSC Shares Valued at $5.3 Million

DC Investments Management, LLC recently liquidated its entire WillScot Holdings Corporation (NASDAQ:WSC) position, reflecting a $5,318,121 net change.

What happened

According to a Securities and Exchange Commission filing dated November 10, 2025, DC Investments Management, LLC sold all 194,092 shares of WillScot Holdings Corporation during the third quarter. The estimated transaction value is $5.32 million, based on the average share price for the quarter.

What else to know

DC Investments Management, LLC sold out of WillScot Holdings Corporation, so its position is now eliminated from reportable assets under management. Previously, the position represented 2.2% of the fund’s AUM as of the prior quarter.

Top holdings after the filing:

• VT: $106.4 million (44.1% of AUM)
• ASML: $8.5 million (3.5% of AUM)
• PDM: $6.7 million (2.8% of AUM)
• UNH: $5.8 million (2.4% of AUM)
• EQT: $5.1 million (2.1% of AUM)

As of November 10, 2025, shares of WillScot Holdings Corporation were priced at $17.93, down 46.5% over the past year, underperforming the S&P 500 by 62 percentage points.

Company Overview

Company Snapshot

• WillScot Holdings Corporation is a leading provider of flexible workspace and storage solutions in North America. The company provides modular workspace and portable storage solutions, including offices, classrooms, storage containers, and specialty modular units.
• Generates revenue primarily through the leasing of modular space and portable storage units under the WillScot and Mobile Mini brands.
• Serves customers across construction, industrial, commercial, education, government, and healthcare sectors in the United States, Canada, and Mexico.

Foolish take

DC Investments Management just sold off its entire $5.3 million stake in WillScot Holdings, marking a complete exit from one of its smaller but unique industrial investments. This decision follows a tough period for the modular workspace provider, whose shares have dropped nearly 47% over the past year because of slower demand in the commercial and construction markets. The sale probably reflects a portfolio rebalancing—a shift away from cyclical assets and toward more stable growth sectors—after the company’s long period of underperformance.

WillScot still holds a strong position in North American modular leasing, offering flexible workspace and storage solutions through its WillScot and Mobile Mini brands. Its model provides steady rental income and the ability to scale across various industries—advantages that could support a recovery once the broader economy improves. While short-term volatility has put pressure on results, its long-term demand drivers are still there. DC Investments’ exit looks tactical, aimed at freeing up capital for new investments, rather than being a signal of a deeper problem with WillScot’s core business.

Glossary

13F reportable assets under management: The portion of a fund's assets required to be disclosed in quarterly SEC Form 13F filings.
Assets under management (AUM): The total market value of investments managed by a fund or investment firm on behalf of clients.
Liquidated: Sold off an entire investment position, converting it into cash.
Net position change: The total dollar change in an investment holding after buying or selling shares.
Stake: The amount of ownership or investment a fund holds in a particular company.
Top holdings: The largest investments in a fund's portfolio, typically by market value.
Modular workspace: Prefabricated, movable office or workspace units that can be quickly installed or relocated.
Portable storage solutions: Movable containers or units used for temporary or flexible storage needs.
Leasing: Renting out assets or equipment for a specified period in exchange for payment.
TTM: The 12-month period ending with the most recent quarterly report.

Adam Palasciano has no positions in any of the stocks mentioned. The Motley Fool has positions in and recommends ASML and EQT. The Motley Fool recommends UnitedHealth Group. The Motley Fool has a disclosure policy.