Business Summary Telephone and Data Systems, Inc. (TDS) is a U.S.-based telecommunications holding company operating through two primary segments: TDS Telecom, a wireline/fiber broadband provider serving approximately 1.1 million connections across 30 states, and Array Digital Infrastructure (formerly U.S. Cellular), a tower infrastructure company owning 4,450 cell towers in 19 states. In August 2025, Array completed the sale of its wireless operations to T-Mobile for approximately $4.3 billion in total consideration, pivoting Array into a pure-play tower infrastructure and spectrum monetization business. TDS is a controlled company under NYSE standards, with over 50% voting power held by the TDS Voting Trust.
Products & Services - Residential broadband (fiber up to 8 Gbps, DOCSIS 3.1 cable up to 1 Gbps, copper/FTTP) - Residential video (TDS TV+ cloud platform, satellite TV partnerships) - Residential and business voice (VoIP, traditional POTS, hosted collaboration) - Wireless via MVNO (By-the-Gig and Unlimited data plans) -...
AI-generated summary of Item 1 (Business) from the 10-K filed Feb 24, 2026 — View filing on SEC.gov. May contain errors — refer to the filing for authoritative information.
Across SEC filings
Institutional holders · 13F
Q2 2026| Largest holders | Reported value |
|---|---|
| BlackRock Inc | $583.6M |
| DIMENSIONAL FUND ADVISORS LP | $234.8M |
| Third Point LLC | $232.2M |
| VANGUARD PORTFOLIO MANAGEMENT LLC | $214.3M |
| Carronade Capital Management LP | $196.9M |
Annual results · 10-K
Fiscal 2025- Revenue
- $1.2B
- Net loss
- -$6.2M
As reported in the fiscal 2025 annual report.
Federal lobbying · LD-2
Securities
| CUSIP | Security | Type |
|---|---|---|
| 879433878 | TDA TELEPHONE & DATA SYSTEMS | Common stock |
| 879433100 | TDS TELEPHONE & DATA SYS INC | Common stock |
| 879433829 | TDS TELEPHONE AND DATA SYSTEMS | Common stock |
| 879433811 | TDSNA TELEPHONE AND DATA SYSTEMS IN | Common stock |
| 879433860 | TDSS TELEPHONE & DATASYS INC | Common stock |
| 879433886 | TELEPHONE & DATASYS INC | Common stock |
| 879433795 | TDA TELEPHONE & DATA SYSTEM | Preferred stock |
| 879433845 | TDE TELEPHONE & DATA SYSTEM | Preferred stock |
| 879433852 | TDI TELEPHONE & DATA SYSTEMS | Preferred stock |
| 879433837 | TDJ TELEPHONE & DATA SYSTEM | Preferred stock |
| 879433787 | TDSPRU TELEPHONE & DATA SYS | Preferred stock |
| 879433761 | TDSPRV TELEPHONE & DATA SYS | Preferred stock |
Insider trades · Form 4
Latest filings
- Leroy T Carlson Jr 2026-09-17 Gift/Other
- Leroy T Carlson Jr 2026-09-15 Sell
- Anthony J Carlson 2026-09-08 Gift/Other
- Leroy T Carlson Jr 2026-09-08 Gift/Other
5%+ holders · 13D/G
5 filers| Filer | % of class | Filed |
|---|---|---|
| The Trustees of Amendment and Restatement dated as of April 22 2005 of Voting Trust under Agreement dated as of June 30 1989 13D TDS | 11.7% | 2026-09-02 |
| PICTON MAHONEY ASSET MANAGEMENT 13G TDSPRU | 11.2% | 2026-08-11 |
| VANGUARD PORTFOLIO MANAGEMENT LLC 13G TDS | 5.9% | 2026-04-29 |
| BlackRock Inc 13G TDS | 13.8% | 2025-04-28 |
| Third Point LLC 13G TDS | 5.7% | 2024-12-26 |
Latest Schedule 13D or 13G from each filer; stakes a filer has reported closed are left out.