DC Investments Management, LLC
In its 13F for Q4 2025 (holdings as of December 31, 2025, filed February 13, 2026), DC Investments Management, LLC reported 48 stock positions worth $226.1 million. Its top holding was Vanguard Tot World STK ETF (VT) at 52.0% of the portfolio, followed by ASML Holding NV-NY Reg SHS (ASML, 4.2%) and Piedmont Realty Trust (PDM, 2.7%). Compared with Q3 2025, it sold out of 47 and added to 11. The biggest buy was Vanguard Tot World STK ETF (VT, shares +8%) and the biggest sale an exit from Lightspeed Commerce (LSPD).
- Most Recent 13F
- Q2 2026
- Location
- MCLEAN, VA
- CIK
- 0001565951
- Portfolio Value
- $226.1M (Q4 2025)
- SEC Filing
- 0001398344-26-002961 ↗ filed Feb 13, 2026
Holdings Value
Holdings 48 stocks · $226.1M
| VT Vanguard Tot World STK ETF | 51.95% | 832,746 | $117.5M | Add +7.8% |
| ASML ASML Holding NV-NY Reg SHS | 4.16% | 8,788 | $9.4M | No change |
| PDM Piedmont Realty Trust Inc. | 2.75% | 744,654 | $6.2M | No change |
| UNH Unitedhealth Group Inc. | 2.44% | 16,692 | $5.5M | No change |
| EQT Eqt Corp. | 2.33% | 98,100 | $5.3M | Add +4.0% |
| GPOR Gulfport Energy Corp. | 2.25% | 24,458 | $5.1M | Add +4.4% |
| EXE Expand Energy Corp. | 2.23% | 45,663 | $5.0M | Add +4.3% |
| MELI MercadoLibre Inc. | 2.09% | 2,342 | $4.7M | Add +68.3% |
| AR Antero Resources Corp. | 1.96% | 128,841 | $4.4M | Add +4.9% |
| AMRZ Amrize Ltd. | 1.92% | 80,197 | $4.3M | No change |
| UBER Uber Technologies Inc. | 1.84% | 50,817 | $4.2M | No change |
| DVN Devon Energy Corp. | 1.31% | 80,637 | $3.0M | Add +7.7% |
| CTRA Coterra Energy Inc. | 1.20% | 102,882 | $2.7M | Add +8.6% |
| CNX CNX Resources Corp. | 1.17% | 71,695 | $2.6M | Add +8.3% |
| RRC Range Resources Corp. | 1.16% | 74,364 | $2.6M | Add +8.7% |
| PR Permian Resources Corp. Class A | 1.15% | 185,758 | $2.6M | Add +8.6% |
| NWE Northwestern Energy Group Inc. | 0.94% | 32,976 | $2.1M | No change |
| AEP American Electric Power | 0.93% | 18,232 | $2.1M | No change |
| ATO Atmos Energy Corp. | 0.92% | 12,438 | $2.1M | No change |
| BKH Black Hills Corp. | 0.92% | 29,900 | $2.1M | No change |
| ES Eversource Energy | 0.91% | 30,471 | $2.1M | No change |
| MRNA Moderna Inc. | 0.90% | 68,624 | $2.0M | No change |
| EVRG Evergy Inc. | 0.89% | 27,863 | $2.0M | No change |
| NI Nisource Inc. | 0.87% | 46,961 | $2.0M | No change |
| POR Portland General Electric Co. | 0.86% | 40,750 | $2.0M | No change |
| EXC Exelon Corp. | 0.85% | 44,187 | $1.9M | No change |
| AEE Ameren Corporation | 0.84% | 18,978 | $1.9M | No change |
| PPL PPL Corp. | 0.83% | 53,464 | $1.9M | No change |
| ED Consolidated Edison Inc. | 0.81% | 18,543 | $1.8M | No change |
| GOGO Gogo Inc. | 0.79% | 385,140 | $1.8M | No change |
| OGE Oge Energy Corp. | 0.78% | 41,492 | $1.8M | No change |
| UTL Unitil Corp. | 0.70% | 32,855 | $1.6M | No change |
| NET Cloudflare Inc. Class A | 0.48% | 5,532 | $1.1M | No change |
| U Unity Software Inc. | 0.40% | 20,250 | $894K | No change |
| CRWD CrowdStrike Holdings Inc. Class A | 0.36% | 1,721 | $807K | No change |
| ZS Zscaler Inc. | 0.33% | 3,338 | $751K | No change |
| RBRK Rubrik Inc. Class A | 0.31% | 9,263 | $708K | No change |
| DOCN Digitalocean Holdings Inc. | 0.30% | 13,910 | $669K | No change |
| PANW Palo Alto Networks Inc. | 0.29% | 3,513 | $647K | No change |
| OKTA Okta Inc. | 0.28% | 7,396 | $640K | No change |
| TWLO Twilio Inc. Class A | 0.28% | 4,425 | $629K | No change |
| GEN Gen Digital Inc. | 0.27% | 22,650 | $616K | No change |
| QLYS Qualys Inc. | 0.27% | 4,539 | $603K | No change |
| MSFT Microsoft Corp. | 0.24% | 1,142 | $552K | No change |
| ADSK Autodesk Inc. | 0.22% | 1,671 | $495K | No change |
| ZM Zoom Communications Inc. | 0.22% | 5,653 | $488K | No change |
| SNPS Synopsys Inc. | 0.10% | 489 | $230K | No change |
| TCRX Tscan Therapeutics Inc. | 0.02% | 35,563 | $36K | No change |
Portfolio Sells Q3 2025 → Q4 2025
| LSPD Lightspeed Commerce Inc. | Sold out | 0.00% | −1.51 |
| KOP Koppers Holdings Inc. | Sold out | 0.00% | −0.94 |
| MTDR Matador Resources Co. | Sold out | 0.00% | −0.81 |
| TBLA Taboola.com Ltd. | Sold out | 0.00% | −0.76 |
| JELD Jeld-Wen Holding Inc. | Sold out | 0.00% | −0.52 |
| CMCO Columbus McKinnon Corp. | Sold out | 0.00% | −0.49 |
| VRNS Varonis Systems Inc. | Sold out | 0.00% | −0.33 |
| CVLT Commvault Systems Inc. | Sold out | 0.00% | −0.30 |
| HZO Marinemax Inc. | Sold out | 0.00% | −0.28 |
| NTNX Nutanix Inc. Class A | Sold out | 0.00% | −0.24 |
| MITK Mitek Systems Inc. | Sold out | 0.00% | −0.24 |
| FTNT Fortinet Inc. | Sold out | 0.00% | −0.22 |
| PTC PTC Inc. | Sold out | 0.00% | −0.22 |
| BOX Box Inc. Class A | Sold out | 0.00% | −0.21 |
| DBX Dropbox Inc. Class A | Sold out | 0.00% | −0.21 |
| S Sentinelone Inc. Class A | Sold out | 0.00% | −0.20 |
| AVDX Avidxchange Holdings Inc. | Sold out | 0.00% | −0.20 |
| TOST Toast Inc. Class A | Sold out | 0.00% | −0.20 |
| TENB Tenable Holdings Inc. | Sold out | 0.00% | −0.19 |
| CXM Sprinklr Inc. Class A | Sold out | 0.00% | −0.19 |
| AVPT Avepoint Inc. | Sold out | 0.00% | −0.19 |
| BL Blackline Inc. | Sold out | 0.00% | −0.18 |
| CWAN Clearwater Analytics HDS-A | Sold out | 0.00% | −0.17 |
| NABL N-Able Inc. | Sold out | 0.00% | −0.17 |
| ADBE Adobe Inc. | Sold out | 0.00% | −0.17 |
| RNG Ringcentral Inc. Class A | Sold out | 0.00% | −0.17 |
| WIX Wix.com Ltd. | Sold out | 0.00% | −0.16 |
| NCNO Ncino Inc. | Sold out | 0.00% | −0.16 |
| AKAM Akamai Technologies Inc. | Sold out | 0.00% | −0.16 |
| CMRC Commerce.com Inc. | Sold out | 0.00% | −0.16 |
| XYZ Block Inc. | Sold out | 0.00% | −0.16 |
| WK Workiva Inc. | Sold out | 0.00% | −0.16 |
| PCTY Paylocity Holding Corp. | Sold out | 0.00% | −0.15 |
| GTLB Gitlab Inc. Class A | Sold out | 0.00% | −0.15 |
| CRM Salesforce Inc. | Sold out | 0.00% | −0.15 |
| EVH Evolent Health Inc. Class A | Sold out | 0.00% | −0.14 |
| INTA Intapp Inc. | Sold out | 0.00% | −0.13 |
| TEAM Atlassian Corp. Class A | Sold out | 0.00% | −0.13 |
| BRZE Braze Inc. Class A | Sold out | 0.00% | −0.13 |
| DV Doubleverify Holdings Inc. | Sold out | 0.00% | −0.12 |
| RPD RAPID7 Inc. | Sold out | 0.00% | −0.12 |
| TBI Trueblue Inc. | Sold out | 0.00% | −0.12 |
| SPSC SPS Commerce Inc. | Sold out | 0.00% | −0.12 |
| SLP Simulations Plus Inc. | Sold out | 0.00% | −0.10 |
| WEAV Weave Communications Inc. | Sold out | 0.00% | −0.09 |
| TEAD Teads Holding Co. | Sold out | 0.00% | −0.09 |
| SPT Sprout Social Inc. Class A | Sold out | 0.00% | −0.08 |
Portfolio Buys Q3 2025 → Q4 2025
| VT Vanguard Tot World STK ETF | Add +7.8% | 51.95% | +7.81 |
| MELI MercadoLibre Inc. | Add +68.3% | 2.09% | +0.74 |
| GPOR Gulfport Energy Corp. | Add +4.4% | 2.25% | +0.49 |
| EXE Expand Energy Corp. | Add +4.3% | 2.23% | +0.30 |
| CNX CNX Resources Corp. | Add +8.3% | 1.17% | +0.28 |
| CTRA Coterra Energy Inc. | Add +8.6% | 1.20% | +0.27 |
| AR Antero Resources Corp. | Add +4.9% | 1.96% | +0.25 |
| PR Permian Resources Corp. Class A | Add +8.6% | 1.15% | +0.24 |
| DVN Devon Energy Corp. | Add +7.7% | 1.31% | +0.22 |
| EQT Eqt Corp. | Add +4.0% | 2.33% | +0.20 |
| RRC Range Resources Corp. | Add +8.7% | 1.16% | +0.09 |
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 55 | $293.3M | VT, MDY, ASML, UNH, INTU |
| Q1 2026 | 76 | $261.2M | VT, MDY, ASML, PDM, UNH |
| Q4 2025 | 48 | $226.1M | VT, ASML, PDM, UNH, EQT |
| Q3 2025 | 95 | $241.1M | VT, ASML, PDM, UNH, EQT |
| Q2 2025 | 104 | $239.9M | VT, PARR, GOGO, EQT, PDM |
| Q1 2025 | 112 | $194.5M | VT, CALX, PDM, PARR, EQT |
| Q4 2024 | 92 | $153.3M | VT, ACWI, CALX, EQT, PDM |
| Q3 2024 | 87 | $143.0M | SKYY, ACWI, PDM, CALX, FANG |
| Q2 2024 | 85 | $118.6M | SKYY, CALX, FANG, PDM, PARR |
| Q1 2024 | 91 | $118.4M | SKYY, FANG, CALX, PDM, JELD |