undamentalytics Newsletter

Telephone & Data Systems Inc: which funds bought and sold

Institutions that bought and sold Telephone & Data Systems shares in Q2 2026, from the holdings they reported to the SEC on Form 13F for March 31, 2026 and June 30, 2026.

Between March 31, 2026 and June 30, 2026, 176 institutions that filed 13F reports for both quarters added to or opened positions in Telephone & Data Systems, and 167 cut or closed them. Together they added a net 5.7M shares, +5.6% on what they held at the start of the quarter. Active managers and hedge funds on our list were net buyers of 881K shares (+2.7%); index fund managers were net buyers of 948K shares (+2.7%). 47 opened a new position and 53 sold out entirely.

Bought, Q2 2026 176 institutions, 47 of them new holders Sold, Q2 2026 167 institutions, 53 of them sold out
Net change, all compared +5.7M shares (+5.6%)
Net change, active managers +881K shares (+2.7%), 31 bought, 32 sold

Buyers versus sellers

institutions compared, 395
Active managers and hedge funds 31 bought · 32 sold · +881K
Index fund managers 7 bought · 4 sold · +948K
Other institutions 138 bought · 131 sold · +3.8M

Biggest buyers

by change in shares held
Biggest buyers
Institution Change in shares Shares June 30, 2026 Value
Diameter Capital Partners LP Hedge fund +1.7M New position 1.7M $62M
UBS Group AG +1.1M +139.7% 1.9M $71.5M
American Century Companies Inc Active manager +1.0M +28.0% 4.7M $175M
Goldentree Asset Management LP +1.0M +194.2% 1.5M $56.1M
Oaktree Capital Management LP +991K +23.1% 5.3M $196M
Blackrock, Inc. Index funds +846K +5.7% 15.8M $584M
Capital International Investors Active manager +719K New position 719K $26.6M
Carronade Capital Management, LP Hedge fund +695K +15.0% 5.3M $197M
Davidson Kempner Capital Management LP Hedge fund +593K +42.0% 2.0M $74.2M
Aristeia Capital, L.L.C. Hedge fund +566K +94.3% 1.2M $43.1M
Foursixthree Capital LP +465K +49.4% 1.4M $52M
Bank Of America Corp +463K +113.8% 870K $32.2M
Geode Capital Management, LLC Index funds +443K +18.4% 2.8M $105M
Goldman Sachs Group Inc +305K +13.9% 2.5M $92.6M
Franklin Resources Inc Active manager +293K +803.1% 330K $12.2M
Arini Capital Management Ltd +250K New position 250K $9.3M
State Street Corp Index funds +239K +5.7% 4.4M $164M
Tudor Investment Corp Et Al Hedge fund +214K +406.2% 266K $9.9M
Connor, Clark & Lunn Investment Management Ltd. +149K +213.0% 219K $8.1M
Barclays PLC +139K +414.3% 172K $6.4M

Biggest sellers

by change in shares held
Biggest sellers
Institution Change in shares Shares June 30, 2026 Value
Rubric Capital Management LP Hedge fund −1.9M Sold out 0 —
Dendur Capital LP Hedge fund −802K Sold out 0 —
Vanguard Portfolio Management LLC Index funds −465K −7.4% 5.8M $214M
Royce & Associates LP Active manager −404K −90.5% 42K $1.6M
140 Summer Partners LP Hedge fund −368K −27.5% 969K $35.8M
Qube Research & Technologies Ltd Hedge fund −346K −27.7% 904K $33.5M
Third Point LLC Hedge fund −325K −4.9% 6.3M $232M
Jpmorgan Chase & Co −247K −37.3% 415K $15.9M
Rokos Capital Management LLP Hedge fund −232K −46.5% 268K $9.9M
Hennessy Advisors Inc −225K Sold out 0 —
Boothbay Fund Management, LLC Hedge fund −205K Sold out 0 —
Man Group PLC Hedge fund −193K −39.6% 294K $10.9M
Millennium Management LLC Hedge fund −173K −95.2% 8,762 $324,282
Deutsche Bank Ag\ −163K −18.8% 703K $26M
Vanguard Capital Management LLC Index funds −151K −3.5% 4.2M $154M
Teacher Retirement System Of Texas −146K Sold out 0 —
Acadian Asset Management LLC Active manager −140K −89.9% 16K $579,000
Dimensional Fund Advisors LP −139K −2.2% 6.3M $235M
Kerrisdale Advisers, LLC −134K −45.0% 164K $6.1M
Morgan Stanley −123K −7.2% 1.6M $58.3M

New positions

largest by value
InstitutionSharesValue June 30, 2026
Diameter Capital Partners LPHedge fund 1.7M $62M
Capital International InvestorsActive manager 719K $26.6M
Arini Capital Management Ltd 250K $9.3M
Cambridge Investment Research Advisors, Inc. 119K $4.4M
Midwest Trust Co 100K $3.7M
LMR Partners LLPHedge fund 98K $3.6M
Btg Pactual Asset Management Us LLC 85K $3.2M
Whittier Trust Co 72K $2.5M
Three Seasons Wealth, LLC 39K $1.4M
Schonfeld Strategic Advisors LLCHedge fund 33K $1.2M

Sold out

largest by value
InstitutionSharesValue March 31, 2026
Rubric Capital Management LPHedge fund 1.9M $77.9M
Dendur Capital LPHedge fund 802K $33.8M
Hennessy Advisors Inc 225K $9.5M
Boothbay Fund Management, LLCHedge fund 205K $8.7M
Teacher Retirement System Of Texas 146K $6.1M
Toronto Dominion Bank 82K $3.4M
Mirabella Financial Services LLP 80K $3.4M
Resolute Capital Asset Partners LLC 70K $2.9M
Aperture Investors, LLC 54K $2.3M
Canada Pension Plan Investment Board 53K $2.2M

Who holds the shares

13F holdings at June 30, 2026
Institutions reporting
347
Ten largest holders
57.0%
of 13F-reported shares
Index fund managers
33.8%
of 13F-reported shares
Active managers and hedge funds
31.8%
of 13F-reported shares
Buying and selling by type of institution, March 31, 2026 to June 30, 2026
TypeBoughtSoldNewSold outNet change in sharesNet %
Active managers and hedge funds 31 32 9 10 +881K +2.7%
Index fund managers 7 4 0 0 +948K +2.7%
Other institutions 138 131 38 43 +3.8M +11.7%

Active managers and hedge funds: a list we maintain of about 400 well-known stock-picking firms and hedge funds, matched by SEC registration number (CIK) and checked against the filer names each quarter. Index fund managers: the large index houses, such as BlackRock, Vanguard, State Street, Geode and Northern Trust. Every other filer (banks, brokers, wealth managers, pension funds, insurers and firms not on the list) counts as another institution. A firm that files under several SEC registrations appears once for each.

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