TELEPHONE & DATA SYS INC TDS
COM NEW · Common Stock · CUSIP 879433829 · ISIN US8794338298
- SectorCommunication
- IndustryTelephone Communications (No Radiotelephone)
- HeadquartersChicago, IL
- FilingsSEC EDGAR
* Summed across managers. Shares that two managers' reports both contain – a subsidiary's holdings that its parent's report includes too, or a sub-adviser's in its client's – are counted once ($5.1m this quarter). Holder counts are more reliable. Implied quarter-end price ≈ $8.36. Options: 2 managers hold calls ($535.0k notional), 4 hold puts ($376.4k).
Trends to Q2 2023
Institutional holders
Managers reporting a position, each quarter
Numbers
| Quarter | Holders |
|---|---|
| Q3 2022 | 234 |
| Q4 2022 | 245 |
| Q1 2023 | 237 |
| Q2 2023 | 234 |
Buyers vs sellers
Managers adding to or starting a position, vs cutting or selling out
Numbers
| Quarter | Bought or added | Cut or sold out |
|---|---|---|
| Q4 2022 | 134 | 106 |
| Q1 2023 | 122 | 108 |
| Q2 2023 | 111 | 127 |
Calls vs puts
Options held, notional value, last 4 quarters. P/C = puts ÷ calls
Numbers
| Quarter | Calls | Puts | P/C |
|---|---|---|---|
| Q3 2022 | $2.1m | $276.0k | 0.13 |
| Q4 2022 | $456.3k | $386.9k | 0.85 |
| Q1 2023 | $618.0k | $79.5k | 0.13 |
| Q2 2023 | $535.0k | $376.4k | 0.70 |
Biggest buyers
| Invesco Ltd. | Added | +3.7m |
| MILLENNIUM MANAGEMENT LLC | Added | +1.2m |
| MARSHALL WACE, LLP | Added | +677.9k |
| PRIVATE MANAGEMENT GROUP INC | Added | +652.6k |
| FIRST TRUST ADVISORS LP | Added | +563.1k |
| BlackRock Inc. | Added | +519.8k |
| AMERIPRISE FINANCIAL INC | Added | +470.8k |
| MORGAN STANLEY | Added | +311.0k |
| Empowered Funds, LLC | New | +304.3k |
| ProShare Advisors LLC | Added | +297.1k |
Biggest sellers
| DIMENSIONAL FUND ADVISORS LP | Reduced | -2.9m |
| FMR LLC | Reduced | -1.3m |
| JACOBS LEVY EQUITY MANAGEMENT, INC | Reduced | -1.3m |
| LAZARD ASSET MANAGEMENT LLC | Reduced | -488.5k |
| HRT FINANCIAL LP | Sold out | -383.8k |
| NORGES BANK | Reduced | -345.6k |
| Cubist Systematic Strategies, LLC | Sold out | -340.9k |
| DLD Asset Management, LP | Reduced | -340.0k |
| TCW GROUP INC | Sold out | -300.0k |
| Ergoteles LLC | Sold out | -298.3k |
Biggest calls
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | Added | $354.7k43.1k shares |
| CITADEL ADVISORS LLC | Reduced | $180.2k21.9k shares |
Biggest puts
| CITADEL ADVISORS LLC | Added | $154.7k18.8k shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | New | $131.7k16.0k shares |
| SIMPLEX TRADING, LLC | Added | $90.0k11.0k shares |
| CONCOURSE FINANCIAL GROUP SECURITIES, INC. | Unchanged | $00 shares |
Options at notional value: the value of the shares the contracts control, as filers report them, not what the options cost. Not included in the holders, shares or buying above.
Major shareholders (over 5%)
Anyone who owns more than 5% of a class of the company's shares has to say so: on Schedule 13D if they may try to influence or control the company, on 13G if they're a passive investor, and update it as the stake changes. Each holder's latest filing, from 19 Dec 2024 on; percentages are of the share class, as the holder worked them out.
| Holder | Stake |
|---|---|
| BlackRock, Inc. 13G · institution filed 2025-04-28 | 13.8% |
Trustees of Amendment & Restatement (dated as of April 22, 2
13D · may seek influence
-0.2 pts · filed 2026-09-02
Stated purposeThis Item 4 is being updated by the following information. On September 1, 2026, the Issuer issued a press release (the "Press Release") announcing that it is no longer pursuing the acquisition of the Array Common Shares that it does not already own and has withdrawn its previously disclosed proposal. Under the terms of that proposal, each Array Common Share not already owned by the Issuer would have been exchanged for 0.86 of a TDS Common Share, subject to the assumptions set forth in the Proposal. The Issuer will retain its approximately 82% ownership interest in Array. A copy of the Press Release is filed herewith as Exhibit 2. The Issuer may in the future recommence its efforts to acquire the Array Common Shares it does not own or pursue other potential transactions involving the Issu… Full filing |
11.7% |
| VANGUARD PORTFOLIO MANAGEMENT LLC 13G · institution new · filed 2026-04-29 | 5.9% |
| Third Point LLC 13G · passive investor new · filed 2024-12-26 | 5.7% |
Fell to 5% or below in the last year: VANGUARD GROUP INC (0.0%, 2026-03-27; now reported by VANGUARD PORTFOLIO MANAGEMENT LLC)
Insider purchases and sales in Q2 2023
Shares bought or sold by the company's own officers, directors and 10% owners, in the open market or privately, as they reported to the SEC on Form 4 (due within two business days of the trade). Grants, option exercises, shares withheld for tax and gifts aren't included.
Officers and directors buying vs selling
Number of people, by quarter (10% owners not included)
Numbers
| Quarter | Buying | Bought | Selling | Sold | Sold under a plan |
|---|---|---|---|---|---|
| Q3 2021 | 0 | — | 0 | — | — |
| Q4 2021 | 0 | — | 2 | $608.2k | — |
| Q1 2022 | 0 | — | 0 | — | — |
| Q2 2022 | 0 | — | 1 | $78.8k | — |
| Q3 2022 | 0 | — | 0 | — | — |
| Q4 2022 | 0 | — | 0 | — | — |
| Q1 2023 | 0 | — | 0 | — | — |
| Q2 2023 | 0 | — | 0 | — | — |
None reported in Q2 2023.
Holders, Q2 2023
| Manager | Shares | Change |
|---|---|---|
| BlackRock Inc. 0.00% of their portfolio | 17.4m $143.1m | Added +519.8k |
| VANGUARD GROUP INC 0.00% of their portfolio | 12.2m $100.2m | Reduced -93.3k |
| Invesco Ltd. 0.02% of their portfolio | 9.0m $74.0m | Added +3.7m |
| STATE STREET CORP 0.00% of their portfolio | 4.2m $34.9m | Reduced -6.6k |
| PRIVATE MANAGEMENT GROUP INC 1.40% of their portfolio | 4.0m $32.8m | Added +652.6k |
| DIMENSIONAL FUND ADVISORS LP 0.01% of their portfolio | 3.5m $28.5m | Reduced -2.9m |
| GABELLI FUNDS LLC 0.15% of their portfolio | 2.4m $19.6m | Reduced -77.5k |
| MILLENNIUM MANAGEMENT LLC 0.02% of their portfolio | 2.2m $18.4m | Added +1.2m |
| GAMCO INVESTORS, INC. ET AL 0.18% of their portfolio | 2.1m $17.3m | Added +246.6k |
| GEODE CAPITAL MANAGEMENT, LLC 0.00% of their portfolio | 1.9m $15.7m | Added +18.1k |
| MORGAN STANLEY 0.00% of their portfolio | 1.9m $15.4m | Added +311.0k |
| Bank of New York Mellon Corp 0.00% of their portfolio | 1.8m $15.0m | Reduced -15.7k |
| PRUDENTIAL FINANCIAL INC 0.04% of their portfolio | 1.6m $25.0m | Added +104.6k |
| FIRST TRUST ADVISORS LP 0.01% of their portfolio | 1.5m $12.0m | Added +563.1k |
| AMERICAN CENTURY COMPANIES INC 0.01% of their portfolio | 1.4m $11.8m | Added +124.0k |
| MARSHALL WACE, LLP 0.02% of their portfolio | 1.3m $10.4m | Added +677.9k |
| CHARLES SCHWAB INVESTMENT MANAGEMENT INC 0.00% of their portfolio | 1.2m $10.3m | Added +155.3k |
| JUPITER ASSET MANAGEMENT LTD 0.11% of their portfolio | 1.2m $9.9m | Reduced -18.6k |
| JPMORGAN CHASE & CO 0.00% of their portfolio | 1.1m $9.2m | Added +263.4k |
| ProShare Advisors LLC 0.03% of their portfolio | 1.1m $9.0m | Added +297.1k |
| NORTHERN TRUST CORP 0.00% of their portfolio | 1.1m $9.0m | Added +300 |
| AMERIPRISE FINANCIAL INC 0.00% of their portfolio | 1.0m $8.6m | Added +470.8k |
| FMR LLC 0.00% of their portfolio | 1.0m $8.6m | Reduced -1.3m |
| BRIDGEWAY CAPITAL MANAGEMENT, LLC 0.19% of their portfolio | 981.8k $8.1m | Added +269.3k |
| BANK OF AMERICA CORP /DE/ 0.00% of their portfolio | 956.3k $7.9m | Reduced -12.2k |
| CITADEL ADVISORS LLC 0.01% of their portfolio | 914.5k $7.5m | Reduced -87.0k |
| Advisors Asset Management, Inc. 0.11% of their portfolio | 635.9k $5.2m | Reduced -38.1k |
| PANAGORA ASSET MANAGEMENT INC 0.03% of their portfolio | 587.6k $4.8m | Reduced -4.4k |
| GOLDMAN SACHS GROUP INC 0.00% of their portfolio | 578.6k $4.8m | Added +234.5k |
| Assenagon Asset Management S.A. 0.02% of their portfolio | 565.1k $4.7m | Added +263.8k |
| PRINCIPAL FINANCIAL GROUP INC 0.00% of their portfolio | 561.2k $4.6m | Reduced -41.3k |
| Krilogy Financial LLC 0.38% of their portfolio | 509.7k $4.2m | Added +29.0k |
| PINNACLE ASSOCIATES LTD 0.06% of their portfolio | 450.1k $3.7m | Added +22.5k |
| CONGRESS ASSET MANAGEMENT CO 0.03% of their portfolio | 428.5k $3.5m | Added +5.4k |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP 0.01% of their portfolio | 415.2k $3.4m | Reduced -86.9k |
| NORGES BANK 0.00% of their portfolio | 392.1k $3.2m | Reduced -345.6k |
| Engineers Gate Manager LP 0.11% of their portfolio | 364.0k $3.0m | Reduced -9.1k |
| RHUMBLINE ADVISERS 0.00% of their portfolio | 330.7k $2.7m | Reduced -3.0k |
| Empowered Funds, LLC 0.09% of their portfolio | 304.3k $2.5m | New |
| EA Series Trust 0.09% of their portfolio | 304.3k $2.5m | First filing |
| Connor, Clark & Lunn Investment Management Ltd. 0.01% of their portfolio | 300.5k $2.5m | Reduced -90.1k |
| Nuveen Asset Management, LLC 0.00% of their portfolio | 295.2k $2.4m | Unchanged |
| Legal & General Group Plc 0.00% of their portfolio | 292.8k $2.4m | Reduced -8.6k |
| PDT Partners, LLC 0.31% of their portfolio | 276.1k $2.3m | Reduced -29.9k |
| Jump Financial, LLC 0.07% of their portfolio | 241.0k $2.0m | New |
| AQR CAPITAL MANAGEMENT LLC 0.00% of their portfolio | 236.3k $1.9m | Added +122.2k |
| Swiss National Bank 0.00% of their portfolio | 217.7k $1.8m | Unchanged |
| Raymond James Financial Services Advisors, Inc. 0.00% of their portfolio | 209.1k $1.7m | Added +37.5k |
| Invenomic Capital Management LP 0.10% of their portfolio | 207.2k $1.7m | New |
| IMA Advisory Services, Inc. 0.42% of their portfolio | 198.1k $1.6m | Added +77.0k |
| ALGERT GLOBAL LLC 0.07% of their portfolio | 193.1k $1.6m | New |
| JACOBS LEVY EQUITY MANAGEMENT, INC 0.01% of their portfolio | 188.1k $1.5m | Reduced -1.3m |
| Thrivent Financial for Lutherans 0.00% of their portfolio | 183.3k $1.5m | Reduced -34.7k |
| Public Sector Pension Investment Board 0.01% of their portfolio | 175.4k $1.4m | Reduced -132 |
| UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC 0.00% of their portfolio | 173.1k $1.8m | Unchanged |
| UBS Group AG 0.00% of their portfolio | 172.4k $1.4m | Reduced -33.7k |
| BNP PARIBAS FINANCIAL MARKETS 0.00% of their portfolio | 167.3k $1.4m | Reduced -148.2k |
| RAYMOND JAMES & ASSOCIATES 0.00% of their portfolio | 166.5k $1.4m | Reduced -2.3k |
| WELLS FARGO & COMPANY/MN 0.00% of their portfolio | 155.1k $1.3m | Added +10.1k |
| NWI MANAGEMENT LP 0.34% of their portfolio | 146.0k $1.2m | Unchanged |
| CREDIT SUISSE AG/ 0.00% of their portfolio | 144.1k $1.2m | Added +20.4k |
| NEW YORK STATE TEACHERS RETIREMENT SYSTEM 0.00% of their portfolio | 139.1k $1.1m | Reduced -10.7k |
| TWO SIGMA ADVISERS, LP 0.00% of their portfolio | 134.0k $1.1m | Reduced -33.0k |
| ExodusPoint Capital Management, LP 0.01% of their portfolio | 128.4k $1.1m | Reduced -38.8k |
| Asset Management One Co., Ltd. 0.00% of their portfolio | 127.7k $1.1m | New |
| CALIFORNIA STATE TEACHERS RETIREMENT SYSTEM 0.00% of their portfolio | 124.9k $1.0m | Reduced -4.1k |
| ALLIANCEBERNSTEIN L.P. 0.00% of their portfolio | 121.3k $998.1k | Reduced -10.9k |
| COMMONWEALTH OF PENNSYLVANIA PUBLIC SCHOOL EMPLS RETRMT SYS 0.01% of their portfolio | 111.7k $919.3k | Added +6.0k |
| EXCHANGE TRADED CONCEPTS, LLC 0.02% of their portfolio | 106.8k $878.6k | Reduced -1.6k |
| VOYA INVESTMENT MANAGEMENT LLC 0.00% of their portfolio | 103.6k $852.3k | Added +64.6k |
| BARCLAYS PLC 0.00% of their portfolio | 101.3k $833.6k | Added +40.3k |
| WEDGE CAPITAL MANAGEMENT L L P/NC 0.01% of their portfolio | 97.1k $799.3k | New |
| CANADA LIFE ASSURANCE Co 0.00% of their portfolio | 96.4k $794.0k | Reduced -12.5k |
| Trexquant Investment LP 0.02% of their portfolio | 94.5k $778.0k | Reduced -152.4k |
| CITIGROUP INC 0.00% of their portfolio | 93.8k $772.2k | Added +28.4k |
| Graham Capital Management, L.P. 0.02% of their portfolio | 87.2k $718.0k | Reduced -140.1k |
| TEXAS PERMANENT SCHOOL FUND CORP 0.01% of their portfolio | 87.0k $715.8k | Reduced -2.5k |
| PRICE T ROWE ASSOCIATES INC /MD/ 0.00% of their portfolio | 84.2k $694.0k | Added +6.3k |
| Alhambra Investment Management LLC 0.44% of their portfolio | 80.7k $664.2k | Reduced -15.0k |
| VICTORY CAPITAL MANAGEMENT INC 0.00% of their portfolio | 79.7k $655.9k | Added +23.8k |
| GUGGENHEIM CAPITAL LLC 0.00% of their portfolio | 70.0k $576.1k | Added +18.3k |
| Quinn Opportunity Partners LLC 0.07% of their portfolio | 65.5k $539.1k | New |
| State of Alaska, Department of Revenue 0.01% of their portfolio | 65.0k $535.0k | Reduced -3.3k |
| ENVESTNET ASSET MANAGEMENT INC 0.00% of their portfolio | 60.6k $499.1k | Reduced -7.2k |
| YOUSIF CAPITAL MANAGEMENT, LLC 0.01% of their portfolio | 60.3k $496.6k | Reduced -1.6k |
| FRANKLIN RESOURCES INC 0.00% of their portfolio | 59.3k $487.7k | Added +47.7k |
| State of Tennessee, Department of Treasury 0.00% of their portfolio | 57.4k $472.4k | Unchanged |
| GSA CAPITAL PARTNERS LLP 0.05% of their portfolio | 55.4k $456.0k | New |
| STRS OHIO 0.00% of their portfolio | 53.8k $442.0k | Reduced -123.8k |
| MetLife Investment Management, LLC 0.00% of their portfolio | 53.4k $439.6k | Unchanged |
| AMERICAN INTERNATIONAL GROUP, INC. 0.00% of their portfolio | 53.1k $437.4k | Reduced -1.8k |
| Louisiana State Employees Retirement System 0.01% of their portfolio | 51.9k $427.1k | Added +5.4k |
| OCCUDO QUANTITATIVE STRATEGIES LP 0.04% of their portfolio | 50.5k $415.2k | New |
| PATHSTONE FAMILY OFFICE, LLC 0.01% of their portfolio | 50.1k $413.4k | New |
| TEACHER RETIREMENT SYSTEM OF TEXAS 0.00% of their portfolio | 46.4k $382.0k | Reduced -3.7k |
| Mirae Asset Global Investments Co., Ltd. 0.00% of their portfolio | 44.2k $363.9k | Unchanged |
| JANUS HENDERSON GROUP PLC 0.00% of their portfolio | 43.8k $360.6k | Reduced -80 |
| DEUTSCHE BANK AG\ 0.00% of their portfolio | 41.9k $344.6k | Reduced -25.8k |
| MANUFACTURERS LIFE INSURANCE COMPANY, THE 0.00% of their portfolio | 41.3k $339.7k | Added +691 |
| AMALGAMATED BANK 0.00% of their portfolio | 39.9k $328.0k | Reduced -2.0k |