DC Investments Eliminates Stake In 77K CALX Shares Worth $4.1 Million

DC Investments Management, LLC, sold out its entire stake in Calix (NYSE:CALX), reducing exposure by an estimated $4.08 million based on the average share price for the quarter.

What happened

According to a filing with the Securities and Exchange Commission dated November 10, 2025, DC Investments Management, LLC, fully exited its position in Calix. The fund reported a reduction of 76,642 shares, eliminating its previous holding, which was valued at approximately $4.08 million based on the average share price for the quarter.

What else to know

The firm sold out its entire Calix stake, which now represents 0% of reportable 13F assets under management; this position previously accounted for 1.7% 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 Calix were priced at $64.24, up 84.2% over the past year, outperforming the S&P 500 by 69 percentage points.

Company Overview

Company Snapshot

• Provides cloud and software platforms, analytics, and integrated systems for broadband service providers, including Calix Cloud, EXOS, and AXOS platforms.
• Generates revenue through direct sales and reseller channels by offering cloud and software platforms, systems, and services.
• Focuses on scalable, role-based platforms, positioning it as a strategic partner for broadband providers seeking to innovate and expand their service offerings.
• Primary customers are broadband service providers in the United States and international markets across the Americas, EMEA, and Asia Pacific.

Foolish take

DC Investments Management just sold off its entire $4.08 million stake in Calix stock, marking a complete exit after the broadband technology company had a fantastic year. With shares soaring more than 80% over the last 12 months, the fund's decision is most likely just profit-taking after a long rally, rather than any negative sign about the company’s core business.

Calix has benefited greatly from the ongoing investment in broadband infrastructure and the high demand for its cloud-based network solutions from regional and rural service providers. The company’s focus on scalable, software-driven platforms like Calix Cloud, EXOS, and AXOS has positioned it as a key driver of digital transformation in the broadband industry. Its customer-centric approach and recurring software revenue model continue to set it apart from older hardware providers. While the stock’s price has climbed sharply, its role in powering the next generation of connectivity keeps it firmly in the conversation for investors looking for long-term growth in broadband and digital infrastructure trends.

Glossary

13F reportable assets: Assets that institutional investment managers must disclose quarterly to the SEC if they exceed $100 million in U.S. securities.
Assets under management (AUM): The total market value of investments managed on behalf of clients by a fund or firm.
Stake: The ownership interest or investment a fund or individual holds in a particular company.
Position: The amount of a particular security or asset held by an investor or fund.
Exited position: When an investor or fund sells all holdings in a particular security, reducing ownership to zero.
Quarterly average prices: The average price of a security over a three-month financial reporting period.
Reseller channels: Third-party companies or partners that sell a firm's products or services to end customers.
Broadband service providers: Companies that deliver high-speed internet access to homes and businesses.
EMEA: Geographic region including Europe, the Middle East, and Africa.
Scalable: The ability of a system or platform to handle increased demand or growth without losing performance.
Role-based platforms: Software systems tailored to the specific needs and permissions of different user types within an organization.
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.