Calix’s significant individual investors ownership suggests that the key decisions are influenced by shareholders from the larger public
A total of 23 investors have a majority stake in the company with 47% ownership
18% of Calix is held by insiders
A look at the shareholders of Calix Limited (ASX:CXL) can tell us which group is most powerful. The group holding the most number of shares in the company, around 53% to be precise, is individual investors. Put another way, the group faces the maximum upside potential (or downside risk).
While individual investors were the group that reaped the most benefits after last week’s 15% price gain, institutions also received a 29% cut.
In the chart below, we zoom in on the different ownership groups of Calix.
See our latest analysis for Calix
ASX:CXL Ownership Breakdown January 19th 2026
Institutional investors commonly compare their own returns to the returns of a commonly followed index. So they generally do consider buying larger companies that are included in the relevant benchmark index.
We can see that Calix does have institutional investors; and they hold a good portion of the company’s stock. This suggests some credibility amongst professional investors. But we can’t rely on that fact alone since institutions make bad investments sometimes, just like everyone does. If multiple institutions change their view on a stock at the same time, you could see the share price drop fast. It’s therefore worth looking at Calix’s earnings history below. Of course, the future is what really matters.
ASX:CXL Earnings and Revenue Growth January 19th 2026
We note that hedge funds don’t have a meaningful investment in Calix. Australian Super Pty Ltd is currently the company’s largest shareholder with 17% of shares outstanding. TIGA Trading Pty Ltd is the second largest shareholder owning 8.0% of common stock, and Nicholas Merriman holds about 5.1% of the company stock. Additionally, the company’s CEO Philip Hodgson directly holds 2.3% of the total shares outstanding.
A deeper look at our ownership data shows that the top 23 shareholders collectively hold less than half of the register, suggesting a large group of small holders where no single shareholder has a majority.
While it makes sense to study institutional ownership data for a company, it also makes sense to study analyst sentiments to know which way the wind is blowing. While there is some analyst coverage, the company is probably not widely covered. So it could gain more attention, down the track.
Story Continues
The definition of company insiders can be subjective and does vary between jurisdictions. Our data reflects individual insiders, capturing board members at the very least. The company management answer to the board and the latter should represent the interests of shareholders. Notably, sometimes top-level managers are on the board themselves.
Insider ownership is positive when it signals leadership are thinking like the true owners of the company. However, high insider ownership can also give immense power to a small group within the company. This can be negative in some circumstances.
Our most recent data indicates that insiders own a reasonable proportion of Calix Limited. It has a market capitalization of just AU$300m, and insiders have AU$54m worth of shares in their own names. We would say this shows alignment with shareholders, but it is worth noting that the company is still quite small; some insiders may have founded the business. You can click here to see if those insiders have been buying or selling.
The general public, mostly comprising of individual investors, collectively holds 53% of Calix shares. This level of ownership gives investors from the wider public some power to sway key policy decisions such as board composition, executive compensation, and the dividend payout ratio.
I find it very interesting to look at who exactly owns a company. But to truly gain insight, we need to consider other information, too. Like risks, for instance. Every company has them, and we’ve spotted 3 warning signs for Calix (of which 2 make us uncomfortable!) you should know about.
If you are like me, you may want to think about whether this company will grow or shrink. Luckily, you can check this free report showing analyst forecasts for its future.
NB: Figures in this article are calculated using data from the last twelve months, which refer to the 12-month period ending on the last date of the month the financial statement is dated. This may not be consistent with full year annual report figures.
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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.