Telephone and Data Systems
TDS • NYSE
Telephone and Data Systems is a telecommunications services company in the communication services sector on NYSE, led by Walter C. D. Carlson, with a market cap of $4.4B. As of Q3 2025, 91% of shares are held by 314 institutional investors, with BlackRock, Inc. as the largest holder at 12.93%.
President and Chief Executive OfficerWalter C. D. Carlson
Market Cap$4.4B
Telecommunications Services
Communication Services
Employees4.3K
Websitetdsinc.com
Country
United States of America
Overview
Overview of institutional ownership in TDS as of Q3 2025 with a market cap of $4.5B
All Institutions
- Institutions
- 314
- Value Held
- $4.1B
- Shares Held
- 104.6M
- Avg Position
- $13.1M
- Median Position
- $896.6K
Hedge Funds
- Hedge Funds
- 50
- Value Held
- $1.1B
- Shares Held
- 29.2M
- Avg Position
- $22.9M
- Median Position
- $3.3M
Ownership Breakdown
Based on market cap of $4.5B as of Q3 2025. Institutional (non-HF) excludes hedge funds to avoid double counting.
Biggest Investors
Institutions with the largest positions in TDS as of Q3 2025
| Institution | Position Value |
|---|---|
B BlackRock, Inc. Institution | $583.3M 0.01% of portfolio |
 VANGUARD GROUP INC Institution | $451.1M 0.01% of portfolio |
 Third Point LLC Hedge Fund•Multi-Strategy | $263.2M 3.19% of portfolio |
 DIMENSIONAL FUND ADVISORS LP Long Only Manager | $246.8M 0.05% of portfolio |
 STATE STREET CORP Institution | $156.6M 0.01% of portfolio |
 OAKTREE CAPITAL MANAGEMENT LP Hedge Fund•Multi-Strategy | $144.7M 3.07% of portfolio |
 CARRONADE CAPITAL MANAGEMENT, LP Hedge Fund•Distressed | $144.4M 17.54% of portfolio |
A AMERICAN CENTURY COMPANIES INC Institution | $141.7M 0.07% of portfolio |
 GOLDMAN SACHS GROUP INC Institution | $112.5M 0.02% of portfolio |
 GEODE CAPITAL MANAGEMENT LLC ETF Provider | $92.2M 0.01% of portfolio |
Net Capital Flow
Institutional buying and selling activity for TDS in Q3 2025
- Traded
- +$154.2M
- Buyers
- 148
- Sellers
- 151
- Total Bought
- +$536.2M
- Total Sold
- −$382.0M
- Avg Position
- $11.9M
Biggest Buyers
| Institution | Net Bought |
|---|---|
OAKTREE CAPITAL MANAGEMENT LP Hedge Fund•Multi-Strategy | +$144.7M +3.7M shares |
R Rubric Capital Management LP Hedge Fund•Long/Short | +$62.8M +1.6M shares |
 Davidson Kempner Capital Management LP Hedge Fund•Multi-Strategy | +$55.4M +1.4M shares |
 DEUTSCHE BANK AG\ Institution | +$30.1M +766.3K shares |
H | +$29.9M +763.0K shares |
 Diameter Capital Partners LP Hedge Fund•Credit Arb | +$23.0M +585.0K shares |
 UBS Group AG Institution | +$22.7M +579.0K shares |
 ThornTree Capital Partners LP Hedge Fund•Long/Short | +$20.9M +531.7K shares |
 ARISTEIA CAPITAL LLC Hedge Fund•Multi-Strategy | +$17.7M +450.0K shares |
CARRONADE CAPITAL MANAGEMENT, LP Hedge Fund•Distressed | +$11.3M +288.0K shares |
Biggest Sellers
| Institution | Net Sold |
|---|---|
 Silver Point Capital L.P. Hedge Fund•Distressed | −$51.9M −1.3M shares |
 Engineers Gate Manager LP Hedge Fund•Quant | −$22.5M −633.2K shares |
B BlackRock, Inc. Institution | −$21.3M −543.5K shares |
 UBS GLOBAL ASSET MANAGEMENT AMERICAS INC Long Only Manager | −$16.1M −410.1K shares |
1 140 Summer Partners LP Hedge Fund•Multi-Strategy | −$15.5M −396.2K shares |
 SUSQUEHANNA INTERNATIONAL GROUP, LLP Private Equity | −$13.7M −350.0K shares |
 Governors Lane LP Hedge Fund•Event Driven | −$12.5M −317.3K shares |
 TORONTO DOMINION BANK Institution | −$11.7M −297.5K shares |
 GABELLI FUNDS LLC Long Only Manager | −$11.7M −297.1K shares |
 CenterBook Partners LP Hedge Fund•Market Neutral | −$10.9M −276.9K shares |
Entry and Exit Activity
Institutions that initiated new positions or completely exited TDS in Q3 2025
- New Positions
- 17
- New Value
- $294.0M
- Exited Positions
- 29
- Exited Value
- $59.6M
New Positions
| Institution | Position Value |
|---|---|
OAKTREE CAPITAL MANAGEMENT LP Hedge Fund•Multi-Strategy | $144.7M 3.7M shares |
R Rubric Capital Management LP Hedge Fund•Long/Short | $62.8M 1.6M shares |
Davidson Kempner Capital Management LP Hedge Fund•Multi-Strategy | $55.4M 1.4M shares |
ThornTree Capital Partners LP Hedge Fund•Long/Short | $20.9M 531.7K shares |
 Jain Global LLC Hedge Fund•Multi-Strategy | $3.7M 94.5K shares |
M MOORE CAPITAL MANAGEMENT, LP Hedge Fund•Global Macro | $3.1M 80.0K shares |
A Axecap Investments, LLC Institution | $2.4M 62.2K shares |
 Empirical Financial Services, LLC RIA/Wealth | $365.7K 9.3K shares |
A AXQ CAPITAL, LP Hedge Fund•Market Neutral | $262.0K 6.7K shares |
S SAGE RHINO CAPITAL LLC RIA/Wealth | $211.7K 5.4K shares |
Exited Positions
| Institution | Previous Position |
|---|---|
Engineers Gate Manager LP Hedge Fund•Quant | $22.5M 633.2K shares |
C Capitolis Liquid Global Markets LLC Private Equity | $6.9M 195.0K shares |
 RENAISSANCE TECHNOLOGIES LLC Hedge Fund•Quant | $6.7M 187.5K shares |
 BOOTHBAY FUND MANAGEMENT, LLC Fund of Funds | $5.4M 150.7K shares |
T TEXAS PERMANENT SCHOOL FUND Institution | $4.6M 130.3K shares |
 Hawk Ridge Management LLC Hedge Fund•Long/Short | $3.4M 94.6K shares |
 Connor, Clark & Lunn Investment Management Ltd. Long Only Manager | $1.9M 53.0K shares |
 Forefront Analytics, LLC RIA/Wealth | $1.3M 36.8K shares |
 IMC-Chicago, LLC RIA/Wealth | $1.0M 28.7K shares |
 CWA Asset Management Group, LLC RIA/Wealth | $939.3K 26.4K shares |
Options Activity
Institutions with the largest Call and Put options positions in TDS as of Q3 2025
- Call Positions
- 17
- Call Value
- $52.6M
- Put Positions
- 15
- Put Value
- $32.5M
Call Positions
| Institution | Position Value |
|---|---|
SUSQUEHANNA INTERNATIONAL GROUP, LLP Private Equity | $13.3M 3.4K contracts |
S SCOGGIN LLC Hedge Fund•Event Driven | $8.8M 2.3K contracts |
J JANE STREET GROUP, LLC Institution | $7.5M 1.9K contracts |
N NOMURA HOLDINGS INC Institution | $6.3M 1.6K contracts |
 BANK OF AMERICA CORP /DE/ Institution | $3.9M 1.0K contracts |
 BARCLAYS PLC Institution | $3.8M 971.0 contracts |
 CITADEL ADVISORS LLC Hedge Fund•Multi-Strategy | $3.3M 837.0 contracts |
W WOLVERINE TRADING, LLC Institution | $2.2M 557.0 contracts |
GOLDMAN SACHS GROUP INC Institution | $1.4M 350.0 contracts |
 TUDOR INVESTMENT CORP ET AL Hedge Fund•Multi-Strategy | $1.2M 301.0 contracts |
Put Positions
| Institution | Position Value |
|---|---|
F FOURSIXTHREE CAPITAL LP Hedge Fund•Credit Arb | $22.4M 5.7K contracts |
BANK OF AMERICA CORP /DE/ Institution | $3.8M 979.0 contracts |
GOLDMAN SACHS GROUP INC Institution | $2.4M 602.0 contracts |
J JANE STREET GROUP, LLC Institution | $1.8M 461.0 contracts |
SUSQUEHANNA INTERNATIONAL GROUP, LLP Private Equity | $698.5K 178.0 contracts |
 Walleye Trading LLC RIA/Wealth | $616.1K 157.0 contracts |
TUDOR INVESTMENT CORP ET AL Hedge Fund•Multi-Strategy | $486.6K 124.0 contracts |
CITADEL ADVISORS LLC Hedge Fund•Multi-Strategy | $313.9K 80.0 contracts |
 Walleye Trading Advisors, LLC Hedge Fund•Multi-Strategy | $3.9K 1.0 contracts |
UBS Group AG Institution | - - contracts |
Most Committed Institutions
Institutions with TDS as the highest % of their portfolio as of Q3 2025
| Institution | Portfolio Weight |
|---|---|
F FOURSIXTHREE CAPITAL LP Hedge Fund•Credit Arb | 21.50% $54.3M |
CARRONADE CAPITAL MANAGEMENT, LP Hedge Fund•Distressed | 17.54% $144.4M |
 Whitebark Investors LP Hedge Fund•Long/Short | 13.62% $28.6M |
S STONEHILL CAPITAL MANAGEMENT LLC Hedge Fund•Distressed | 7.42% $12.6M |
S SCOGGIN LLC Hedge Fund•Event Driven | 4.31% $10.8M |
Diameter Capital Partners LP Hedge Fund•Credit Arb | 4.29% $40.2M |
1 140 Summer Partners LP Hedge Fund•Multi-Strategy | 4.13% $49.0M |
 REDWOOD CAPITAL MANAGEMENT, LLC Hedge Fund•Distressed | 3.82% $34.4M |
ThornTree Capital Partners LP Hedge Fund•Long/Short | 3.19% $20.9M |
Third Point LLC Hedge Fund•Multi-Strategy | 3.19% $263.2M |
Hedge Fund Spotlight
Discover hedge funds investing in TDS
REDWOOD CAPITAL MANAGEMENT, LLC
Hedge Fund • Distressed
Portfolio ManagerSean Ira Sauler
- Portfolio Value
- $899.4M
- Positions
- 16
- Last Reported
- Q3 2025
Sector Allocation
Position in Telephone and Data Systems
- Market Value
- $34.4M
- Shares Held
- 876.6K
- Portfolio Weight
- 3.82%
- Owned Since
- 2025-Q1
| Top Holding | Sector | Market Value | Weight |
|---|---|---|---|
Communication Equipment Technology | $427.6M | 47.54% | |
Software - Application Technology | $173.3M | 19.27% | |
Rental & Leasing Services Industrials | $157.9M | 17.56% |
