$AD

$32.41 -$1.02 (3.05%) Close

$AD Overview Financial Statements SEC Filings Executives News Red Flags Capital Raising Ownership Insider Transactions Congressional Trades

Ownership

13F as of Q2 2026 · 86.5M shares outstanding

Who owns AD?

By type of holder

Institutions 20.7% Insiders 0.6% Everyone else 78.7%

Concentration Top 10 holders own 175.2%

Telephone and Data Systems, Inc. 81.9% · The Trustees of Amendment and Restatement (dated as of April 22, 2005) of Voting Trust under Agreement dated as of June 30, 1989 81.9%

Institutional ownership

20.7%

-1.7 pts vs last qtr

Institutional holders

138

-11 vs last qtr

Net shares bought

−1.4M

by institutions in Q2 2026

New / sold out

26 / 37

positions opened vs closed

How is ownership changing?

Institutions, last 8 quarters

Biggest buyers in Q2 2026

Hawk Ridge Capital Management LP NEW +1.8M
Madison Avenue Partners, LP NEW +1.1M

Biggest sellers in Q2 2026

BNP PARIBAS ASSET MANAGEMENT Holding S.A. −2.1M
Bank Of America Corp /de/ −1.8M

Who is planning to sell?

Notices of proposed sale, last 12 months

$261K

1 notice from 1 person

Shares covered

6.8K

0.01% of the company

Arranged in advance

of the value is under a 10b5-1 plan

Under a 10b5-1 plan No plan

Largest proposed sellers

Harczak Harry J JR Director $261K

Every notice on Red Flags →

A Form 144 is notice of a planned sale, not the sale itself. What insiders actually sold is on Insider Transactions.

Is your stake being diluted?

Diluted share count, FY2016–FY2025

+2.7%

+0.30% a year

Each share's claim on the business

−2.6%

shrank without buying or selling a share

Spent on buybacks vs paid in stock

$198M vs $223M

over 10 fiscal years

Diluted shares, split-adjusted

Buybacks Stock-based comp

How patient are the owners?

Institutional shares by how long they've been held

5+ years52% 3–5 years1% 1–3 years16% Under 1 year31%

Quarterly turnover

26.4%

of institutional shares changed hands

Top 10 managers, median time held

5 years

Super Investors

Investment managers reporting AD on Form 13F

Holder	Shares	% of company	Change vs last qtr	Held since	% of their book
BO Bank Of America Corp /de/	740.6K	0.86%	−1.8M (−70.8%)	≤2021	0.0%
Shares held by quarter Peak holding2.5M (Q4'25) Change over 8 quarters+731.6K Share of the company0.860% Bank Of America Corp /de/'s full portfolio →
DF Dimensional Fund Advisors LP	2.3M	2.62%	−30.4K (−1.3%)	≤2021	0.0%
Shares held by quarter Peak holding2.3M (Q1'26) Change over 8 quarters−13.9K Share of the company2.620% Dimensional Fund Advisors LP's full portfolio →

Bank Of America Corp /de/

740.6K

% of company

0.86%

Change vs last qtr

−1.8M (−70.8%)

Held since

≤2021

Dimensional Fund Advisors LP

2.3M

% of company

2.62%

Change vs last qtr

−30.4K (−1.3%)

Held since

≤2021

28 more super investors behind a free account

See every manager holding Array Digital Infrastructure Inc, how their position has changed, and how long they've held it.

Institutional Funds

Mutual funds and ETFs reporting AD on Form N-PORT; together they hold 8.6% of the company

Fund	Position value	Shares	% of company	% of the fund	As of
AU Avantis U.S. Small Cap Value ETF American Century ETF Trust	$32M	629.6K	0.73%	0.12%	May 31, 2026
US U.S. Small Cap Value Portfolio Dfa Investment Dimensions Group Inc	$19.4M	557.1K	0.64%	0.10%	July 31, 2026

Avantis U.S. Small Cap Value ETF

American Century ETF Trust

Position value

$32M

% of company

0.73%

% of the fund

0.12%

As of

May 31, 2026

U.S. Small Cap Value Portfolio

Dfa Investment Dimensions Group Inc

Position value

$19.4M

% of company

0.64%

% of the fund

0.10%

As of

July 31, 2026

23 more funds behind a free account

See every fund holding Array Digital Infrastructure Inc and how much of the fund the position is.

Insiders and 5%+ holders

From Forms 3/4/5 and Schedules 13D/G

Holder	Shares	% of company	Change vs last qtr	8 quarters	Held since	% of their book
TA Telephone and Data Systems, Inc. 5%+ holder 13D · 81.9%	70.8M	81.85%	—	—	—	—
This holder reports through Schedule 13D/G, not a quarterly 13F. Share of the company81.850% Disclosed stake13D · 81.9% View the 13D/G filing →
TO The Trustees of Amendment and Restatement (dated as of April 22, 2005) of Voting Trust under Agreement dated as of June 30, 1989 5%+ holder 13D · 81.9%	70.8M	81.85%	—	—	—	—
This holder reports through Schedule 13D/G, not a quarterly 13F. Share of the company81.850% Disclosed stake13D · 81.9% View the 13D/G filing →

Telephone and Data Systems, Inc.

5%+ holder13D · 81.9%

70.8M

% of company

81.85%

Change vs last qtr

—

Held since

—

The Trustees of Amendment and Restatement (dated as of April 22, 2005) of Voting Trust under Agreement dated as of June 30, 1989

5%+ holder13D · 81.9%

70.8M

% of company

81.85%

Change vs last qtr

—

Held since

—

10 more holders behind a free account

See every insider and 5%+ holder of Array Digital Infrastructure Inc.

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