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 ($12.5m this quarter). Holder counts are more reliable. Implied quarter-end price ≈ $20.73. Options: 16 managers hold calls ($52.1m notional), 14 hold puts ($15.9m).
Trends to Q2 2024
Institutional holders
Managers reporting a position, each quarter
Numbers
| Quarter | Holders |
|---|---|
| Q3 2022 | 234 |
| Q4 2022 | 245 |
| Q1 2023 | 237 |
| Q2 2023 | 234 |
| Q3 2023 | 259 |
| Q4 2023 | 265 |
| Q1 2024 | 256 |
| Q2 2024 | 258 |
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 |
| Q3 2023 | 132 | 130 |
| Q4 2023 | 105 | 133 |
| Q1 2024 | 111 | 136 |
| Q2 2024 | 136 | 120 |
Calls vs puts
Options held, notional value, last 4 quarters. P/C = puts ÷ calls
Numbers
| Quarter | Calls | Puts | P/C |
|---|---|---|---|
| Q3 2023 | $60.8m | $11.5m | 0.19 |
| Q4 2023 | $41.8m | $14.8m | 0.35 |
| Q1 2024 | $50.4m | $19.2m | 0.38 |
| Q2 2024 | $52.1m | $15.9m | 0.30 |
Biggest buyers
| Qube Research & Technologies Ltd | Added | +606.0k |
| DIMENSIONAL FUND ADVISORS LP | Added | +507.5k |
| HRT FINANCIAL LP | New | +410.6k |
| SCOGGIN MANAGEMENT LP | Added | +400.0k |
| Point72 Asset Management, L.P. | New | +370.5k |
| FINDELL CAPITAL MANAGEMENT LLC | New | +300.0k |
| DEUTSCHE BANK AG\ | Added | +299.6k |
| MILLENNIUM MANAGEMENT LLC | Added | +295.2k |
| UBS Group AG | Added | +267.3k |
| VOLORIDGE INVESTMENT MANAGEMENT, LLC | Added | +266.5k |
Biggest sellers
| MORGAN STANLEY | Reduced | -3.7m |
| Invesco Ltd. | Reduced | -1.8m |
| BlackRock Inc. | Reduced | -963.1k |
| JPMORGAN CHASE & CO | Reduced | -946.2k |
| VANGUARD GROUP INC | Reduced | -574.8k |
| Empowered Funds, LLC | Reduced | -424.8k |
| Woodline Partners LP | Sold out | -304.5k |
| BANK OF AMERICA CORP /DE/ | Reduced | -261.8k |
| Squarepoint Ops LLC | Sold out | -233.6k |
| State of New Jersey Common Pension Fund D | Sold out | -191.6k |
Biggest calls
| SCOGGIN MANAGEMENT LP | Added | $13.0m625.0k shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | Added | $10.1m487.5k shares |
| UBS Group AG | Added | $9.3m450.0k shares |
| J. Goldman & Co LP | Reduced | $6.5m314.9k shares |
| NOMURA HOLDINGS INC | Added | $4.9m235.0k shares |
| CITADEL ADVISORS LLC | Added | $2.0m95.1k shares |
| Squarepoint Ops LLC | Added | $1.5m73.6k shares |
| WOLVERINE TRADING, LLC | Added | $1.4m65.9k shares |
| CAPITAL FUND MANAGEMENT S.A. | Reduced | $947.4k45.7k shares |
| Cubist Systematic Strategies, LLC | New | $621.9k30.0k shares |
Biggest puts
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | Reduced | $3.4m163.0k shares |
| CITADEL ADVISORS LLC | Added | $3.3m160.8k shares |
| SCOGGIN MANAGEMENT LP | Added | $2.6m125.0k shares |
| Squarepoint Ops LLC | Added | $1.7m79.9k shares |
| SIMPLEX TRADING, LLC | Added | $1.6m77.0k shares |
| CAPITAL FUND MANAGEMENT S.A. | Added | $775.3k37.4k shares |
| IMC-Chicago, LLC | Reduced | $642.6k31.0k shares |
| TWO SIGMA SECURITIES, LLC | New | $570.1k27.5k shares |
| WOLVERINE TRADING, LLC | Added | $545.2k26.3k shares |
| Jefferies Financial Group Inc. | Reduced | $232.2k11.2k 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 2024
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.
None reported in Q2 2024.
Holders, Q2 2024
| Manager | Shares | Change |
|---|---|---|
| BlackRock Inc. 0.01% of their portfolio | 16.8m $348.6m | Reduced -963.1k |
| VANGUARD GROUP INC 0.00% of their portfolio | 12.0m $248.7m | Reduced -574.8k |
| DIMENSIONAL FUND ADVISORS LP 0.03% of their portfolio | 6.0m $124.8m | Added +507.5k |
| STATE STREET CORP 0.00% of their portfolio | 4.0m $82.4m | Reduced -82.3k |
| AMERICAN CENTURY COMPANIES INC 0.03% of their portfolio | 2.7m $55.1m | Added +206.8k |
| Third Point LLC 0.54% of their portfolio | 2.3m $47.0m | Added +129.2k |
| PRIVATE MANAGEMENT GROUP INC 1.80% of their portfolio | 2.3m $46.8m | Reduced -16.4k |
| GEODE CAPITAL MANAGEMENT, LLC 0.00% of their portfolio | 2.2m $46.6m | Added +82.2k |
| GAMCO INVESTORS, INC. ET AL 0.45% of their portfolio | 2.0m $41.3m | Reduced -98.4k |
| MILLENNIUM MANAGEMENT LLC 0.03% of their portfolio | 2.0m $40.4m | Added +295.2k |
| GABELLI FUNDS LLC 0.29% of their portfolio | 1.9m $38.7m | Reduced -137.3k |
| MORGAN STANLEY 0.00% of their portfolio | 1.7m $35.1m | Reduced -3.7m |
| Nuveen Asset Management, LLC 0.01% of their portfolio | 1.5m $30.2m | Added +188.4k |
| JPMORGAN CHASE & CO 0.00% of their portfolio | 1.4m $28.6m | Reduced -946.2k |
| CHARLES SCHWAB INVESTMENT MANAGEMENT INC 0.01% of their portfolio | 1.4m $28.2m | Added +10.5k |
| Bank of New York Mellon Corp 0.01% of their portfolio | 1.3m $27.2m | Reduced -17.8k |
| GOLDMAN SACHS GROUP INC 0.01% of their portfolio | 1.3m $27.1m | Reduced -30.0k |
| BRIDGEWAY CAPITAL MANAGEMENT, LLC 0.61% of their portfolio | 1.2m $25.9m | Added +3.5k |
| FMR LLC 0.00% of their portfolio | 1.1m $23.8m | Added +22.3k |
| NORTHERN TRUST CORP 0.00% of their portfolio | 1.1m $22.3m | Added +10.4k |
| Invesco Ltd. 0.00% of their portfolio | 984.6k $20.4m | Reduced -1.8m |
| MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. 0.04% of their portfolio | 896.5k $18.6m | First filing |
| JUPITER ASSET MANAGEMENT LTD 0.18% of their portfolio | 894.9k $18.6m | Added +138.8k |
| BANK OF AMERICA CORP /DE/ 0.00% of their portfolio | 859.0k $17.8m | Reduced -261.8k |
| AMERIPRISE FINANCIAL INC 0.00% of their portfolio | 805.5k $16.7m | Reduced -173.2k |
| BOOTHBAY FUND MANAGEMENT, LLC 0.44% of their portfolio | 691.2k $14.3m | Added +97.0k |
| PANAGORA ASSET MANAGEMENT INC 0.07% of their portfolio | 627.7k $13.0m | Added +27.7k |
| CITADEL ADVISORS LLC 0.01% of their portfolio | 615.7k $12.8m | Added +202.5k |
| Qube Research & Technologies Ltd 0.02% of their portfolio | 607.1k $12.6m | Added +606.0k |
| PRUDENTIAL FINANCIAL INC 0.02% of their portfolio | 605.8k $12.6m | Added +5.0k |
| SCOGGIN MANAGEMENT LP 8.31% of their portfolio | 600.0k $12.4m | Added +400.0k |
| TCW GROUP INC 0.10% of their portfolio | 549.4k $11.4m | Added +74.9k |
| Empowered Funds, LLC 0.18% of their portfolio | 496.2k $10.3m | Reduced -424.8k |
| PRINCIPAL FINANCIAL GROUP INC 0.01% of their portfolio | 486.3k $10.1m | Reduced -25.6k |
| Advisors Asset Management, Inc. 0.20% of their portfolio | 482.8k $10.0m | Reduced -126.8k |
| UBS Group AG 0.00% of their portfolio | 444.7k $9.2m | Added +267.3k |
| NORGES BANK 0.00% of their portfolio | 425.7k $8.8m | Reduced -21.4k |
| ProShare Advisors LLC 0.02% of their portfolio | 423.7k $8.8m | Reduced -78.2k |
| PINNACLE ASSOCIATES LTD 0.13% of their portfolio | 413.4k $8.6m | Reduced -49.2k |
| HRT FINANCIAL LP 0.05% of their portfolio | 410.6k $8.5m | New |
| Allianz Asset Management GmbH 0.01% of their portfolio | 399.8k $8.3m | Added +169.7k |
| VOLORIDGE INVESTMENT MANAGEMENT, LLC 0.03% of their portfolio | 396.9k $8.2m | Added +266.5k |
| FIRST TRUST ADVISORS LP 0.01% of their portfolio | 394.4k $8.2m | Added +23.4k |
| LOOMIS SAYLES & CO L P 0.01% of their portfolio | 386.7k $8.0m | Added +94.3k |
| ARROWSTREET CAPITAL, LIMITED PARTNERSHIP 0.01% of their portfolio | 379.4k $7.9m | Reduced -1.8k |
| JANE STREET GROUP, LLC 0.01% of their portfolio | 374.9k $7.8m | Added +110.3k |
| Point72 Asset Management, L.P. 0.02% of their portfolio | 370.5k $7.7m | New |
| DEUTSCHE BANK AG\ 0.00% of their portfolio | 352.0k $7.3m | Added +299.6k |
| RHUMBLINE ADVISERS 0.01% of their portfolio | 314.3k $6.5m | Reduced -1.3k |
| FINDELL CAPITAL MANAGEMENT LLC 3.11% of their portfolio | 300.0k $6.2m | New |
| COWEN AND COMPANY, LLC 0.17% of their portfolio | 292.7k $6.1m | Added +52.7k |
| Krilogy Financial LLC 0.45% of their portfolio | 292.1k $6.1m | Reduced -54.6k |
| Empyrean Capital Partners, LP 0.36% of their portfolio | 288.8k $6.0m | Added +88.8k |
| MARSHALL WACE, LLP 0.01% of their portfolio | 285.0k $5.9m | Reduced -134.7k |
| Legal & General Group Plc 0.00% of their portfolio | 284.6k $5.9m | Reduced -5.0k |
| Balyasny Asset Management L.P. 0.01% of their portfolio | 258.4k $5.4m | Added +106.6k |
| UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC 0.00% of their portfolio | 258.0k $5.3m | Added +105.5k |
| AQR CAPITAL MANAGEMENT LLC 0.01% of their portfolio | 222.3k $4.6m | Added +1.4k |
| ALGERT GLOBAL LLC 0.15% of their portfolio | 220.1k $4.6m | Added +58.0k |
| Public Sector Pension Investment Board 0.03% of their portfolio | 216.9k $4.5m | Added +14.8k |
| TUDOR INVESTMENT CORP ET AL 0.05% of their portfolio | 210.2k $4.4m | New |
| J. Goldman & Co LP 0.16% of their portfolio | 203.0k $4.2m | Reduced -63.2k |
| Swiss National Bank 0.00% of their portfolio | 198.7k $4.1m | Unchanged |
| BANK OF MONTREAL /CAN/ 0.00% of their portfolio | 197.8k $4.1m | Added +178.7k |
| BARCLAYS PLC 0.00% of their portfolio | 190.3k $3.9m | Added +68.9k |
| CONGRESS ASSET MANAGEMENT CO 0.03% of their portfolio | 188.5k $3.9m | Added +56.1k |
| NOMURA HOLDINGS INC 0.02% of their portfolio | 179.7k $3.7m | Added +126.6k |
| Connor, Clark & Lunn Investment Management Ltd. 0.01% of their portfolio | 171.0k $3.5m | New |
| Edgestream Partners, L.P. 0.16% of their portfolio | 163.8k $3.4m | Added +23.3k |
| Thrivent Financial for Lutherans 0.01% of their portfolio | 163.4k $3.4m | Reduced -7.2k |
| RENAISSANCE TECHNOLOGIES LLC 0.01% of their portfolio | 148.4k $3.1m | Added +111.6k |
| CAXTON ASSOCIATES LP 0.11% of their portfolio | 138.5k $2.9m | Added +89.6k |
| NEW YORK STATE TEACHERS RETIREMENT SYSTEM 0.01% of their portfolio | 135.9k $2.8m | Reduced -10.3k |
| Walleye Capital LLC 0.03% of their portfolio | 132.6k $2.7m | Added +57.0k |
| PRICE T ROWE ASSOCIATES INC /MD/ 0.00% of their portfolio | 130.4k $2.7m | Reduced -18.6k |
| D. E. Shaw & Co., Inc. 0.00% of their portfolio | 129.7k $2.7m | Added +8.7k |
| RAYMOND JAMES & ASSOCIATES 0.00% of their portfolio | 129.4k $2.7m | Reduced -9.1k |
| CANADA LIFE ASSURANCE Co 0.01% of their portfolio | 129.4k $2.7m | Added +20.1k |
| ExodusPoint Capital Management, LP 0.03% of their portfolio | 128.1k $2.7m | New |
| Zimmer Partners, LP 0.05% of their portfolio | 125.0k $2.6m | New |
| WELLS FARGO & COMPANY/MN 0.00% of their portfolio | 122.9k $2.5m | Reduced -55.3k |
| Caption Management, LLC 0.26% of their portfolio | 118.7k $2.5m | Added +102.7k |
| 272 Capital LP 1.22% of their portfolio | 117.1k $2.4m | Added +40.0k |
| Allspring Global Investments Holdings, LLC 0.00% of their portfolio | 114.3k $2.4m | New |
| ALLIANCEBERNSTEIN L.P. 0.00% of their portfolio | 110.7k $2.3m | Reduced -317 |
| Engineers Gate Manager LP 0.05% of their portfolio | 108.1k $2.2m | Reduced -15.2k |
| CALIFORNIA STATE TEACHERS RETIREMENT SYSTEM 0.00% of their portfolio | 101.1k $2.1m | Reduced -3.4k |
| GROUP ONE TRADING LLC 0.06% of their portfolio | 94.7k $2.0m | Added +63.3k |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP 0.00% of their portfolio | 93.2k $1.9m | Reduced -112.6k |
| Inspire Advisors, LLC 0.24% of their portfolio | 86.9k $1.8m | New |
| SEVEN EIGHT CAPITAL, LP 0.19% of their portfolio | 86.9k $1.8m | New |
| TEACHER RETIREMENT SYSTEM OF TEXAS 0.01% of their portfolio | 83.9k $1.7m | Added +3.5k |
| PDT Partners, LLC 0.16% of their portfolio | 83.0k $1.7m | Reduced -20.8k |
| NewEdge Advisors, LLC 0.01% of their portfolio | 81.6k $1.7m | Added +7.8k |
| CITIGROUP INC 0.00% of their portfolio | 78.4k $1.6m | Added +2.2k |
| FRANKLIN RESOURCES INC 0.00% of their portfolio | 76.6k $1.6m | Added +16.3k |
| NATIXIS 0.01% of their portfolio | 76.0k $1.6m | Added +70.0k |
| ROYAL BANK OF CANADA 0.00% of their portfolio | 75.0k $1.6m | Added +17.3k |
| Hudson Bay Capital Management LP 0.01% of their portfolio | 75.0k $1.6m | New |
| TWO SIGMA ADVISERS, LP 0.00% of their portfolio | 71.2k $1.5m | Added +13.7k |