Private Management Group Inc. Cuts Stake in Telephone and Data Systems

Institutional investor reduces holdings in wireless communications provider TDS

Mar. 14, 2026 at 9:21am

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Private Management Group Inc. lowered its stake in Telephone and Data Systems, Inc. (NYSE:TDS) by 16.7% in the third quarter, according to a recent SEC filing. The firm now owns 499,771 shares of the wireless communications provider's stock, down from 599,888 shares previously.

Why it matters

Telephone and Data Systems is a major player in the U.S. wireless and broadband markets, so changes in institutional ownership can signal shifts in investor sentiment around the company's performance and outlook.

The details

Private Management Group Inc. sold 100,117 shares of Telephone and Data Systems stock during the third quarter. The firm now owns a 0.43% stake in the company, worth $19.6 million as of the latest filing. Other institutional investors have also been making changes to their TDS holdings, with some increasing and others decreasing their positions.

  • Private Management Group Inc. filed its latest 13F report covering the third quarter of 2026.

The players

Private Management Group Inc.

An institutional investment firm that manages a portfolio of stocks, bonds, and other assets.

Telephone and Data Systems, Inc.

A diversified telecommunications company that provides wireless, wireline, cable TV, and managed IT services across the United States.

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The takeaway

The reduction in Private Management Group's TDS holdings suggests the firm may have a more cautious outlook on the wireless provider's prospects, though the reasons behind the move are not entirely clear. Investors will likely watch for any further changes in institutional ownership of TDS stock going forward.