Array Digital Infrastructure (AD): which funds own it
A 13F shows the portfolio at quarter-end and is filed up to 45 days later: these are not real-time positions and they may have changed.
Sections with a free account
4 concentrated managers hold it (+2 vs last quarter) with a median weight of 1.9%.
Who owns Array Digital Infrastructure?
Holders that filed a Schedule 13D or 13G with the SEC for owning more than 5% of the shares: Telephone and Data Systems (13D/A filed Sep 2, 2026) and Hawk Ridge Capital Management (13G filed Sep 23, 2026). As of Jun 30, 2026, the largest holders reported on Form 13F were Dimensional Fund Advisors (2.3 million shares), Hawk Ridge Capital Management (1.8 million shares) and Jericho Capital Asset Management (1.8 million shares).
Which institutions hold the most Array Digital Infrastructure shares?
Per Form 13F filings as of Jun 30, 2026:
- 1. Dimensional Fund Advisors: 2.3 million shares
- 2. Hawk Ridge Capital Management: 1.8 million shares
- 3. Jericho Capital Asset Management: 1.8 million shares
- 4. Madison Avenue Partners: 1.1 million shares
- 5. GAMCO Investors: 825,262 shares
- 6. American Century Companies: 766,133 shares
- 7. Bank of America: 740,572 shares
- 8. Loomis Sayles: 707,437 shares
- 9. Oaktree Capital Management: 696,858 shares
- 10. Vanguard Capital Management: 695,357 shares
Sources:13D/A by Telephone and Data Systems (Sep 2, 2026) ↗13G by Hawk Ridge Capital Management (Sep 23, 2026) ↗All of the company's proxy statements on EDGAR ↗
With more than one share class, a 13D or 13G counts shares convertible from another class as owned, so we do not show its percentage. We hold 13D and 13G filings made since Dec 23, 2024: a holder above 5% that has not filed since then does not appear here.
Array Digital Infrastructure revenue
Array Digital Infrastructure reported annual revenue of $163.0 million for fiscal year 2025 (year ended December 31, 2025), according to its Form 10-K filed with the SEC (XBRL data).
Well-known investors holding it
Quarter flow (concentrated managers)
Change in managers (2 → 4): 2 opened · 0 exited = +2
Net flow in the quarter: +$69.2M (+1.9 M shares) · bought $106M and sold $37.0MShares concentrated managers added minus those they cut, valued at the 13F quarter-end implied price, not each trade's price. It is a different measure from the change in managers: the two can have opposite signs.
The set of concentrated managers changed between quarters: with the set as it was then, 4 held it last quarter (the chart point); with today's set, 2 (the base for the change).
Concentrated managers holding it
- Hawk Ridge Capital ManagementNew$65.9M2.2%+2.2 pp
- Jericho Capital Asset Management$65.8M0.5%
- Madison Avenue PartnersNew$40.2M1.7%+1.7 pp
- Newtyn ManagementReduced$21.7M2.7%−4.0 pp
Up to 15, sorted by position value. The percentage is the weight in each manager's portfolio.
Largest holders of AD (all 13F filers)
- Dimensional Fund Advisors2.3 MIndex manager−30 K
- Hawk Ridge Capital Managementconcentrated1.8 MInvestment firm+1.8 M
- Jericho Capital Asset Managementconcentrated1.8 MInvestment firm0
- Madison Avenue Partnersconcentrated1.1 MInvestment firm+1.1 M
- GAMCO Investors825 KType not verified−19 K
- American Century Companies766 KInvestment firm+159 K
- Bank of America741 KBank or trading desk−1.8 M
- Loomis Sayles707 KInvestment firm−33 K
- Oaktree Capital Management697 KInvestment firm−28 K
- Vanguard Capital Management695 KIndex manager+13 K
- Shares
- 2.3 M
- Change
- −30 K
See more
- Type
- Index manager
- Value
- $82.3M
- Hawk Ridge Capital Managementconcentrated
- Shares
- 1.8 M
- Change
- +1.8 M
See more
- Type
- Investment firm
- Value
- $65.9M
- Jericho Capital Asset Managementconcentrated
- Shares
- 1.8 M
- Change
- 0
See more
- Type
- Investment firm
- Value
- $65.8M
- Madison Avenue Partnersconcentrated
- Shares
- 1.1 M
- Change
- +1.1 M
See more
- Type
- Investment firm
- Value
- $40.2M
- Shares
- 825 K
- Change
- −19 K
See more
- Type
- Type not verified
- Value
- $29.9M
- Shares
- 766 K
- Change
- +159 K
See more
- Type
- Investment firm
- Value
- $27.8M
- Shares
- 741 K
- Change
- −1.8 M
See more
- Type
- Bank or trading desk
- Value
- $26.9M
- Shares
- 707 K
- Change
- −33 K
See more
- Type
- Investment firm
- Value
- $25.7M
- Shares
- 697 K
- Change
- −28 K
See more
- Type
- Investment firm
- Value
- $25.3M
- Shares
- 695 K
- Change
- +13 K
See more
- Type
- Index manager
- Value
- $25.2M
The 10 13F filers with the most shares as of Jun 30, 2026, whatever their type (index firms usually come first). “Change”: shares added or cut versus the previous quarter, split-adjusted; “no data” = there is no comparable portfolio for the previous quarter (no filing, or a filing with its holdings under confidential treatment). “% of the company” only where shares outstanding are up to date. Entities of the same group file separately and some 13F filings include other managers: there may be double counting. With a free account: the top 25, the largest buyers and the largest sellers.
Fundamentals
12-month figures to Jun 30, 2026 · balance sheet as of Jun 30, 2026.
- Operating margin
- —
- Net margin
- —
- ROE
- 42.3%
- Revenue (TTM)
- $214M
- Revenue growth
- —
- Net income (TTM)
- $536M
- Net debt / EBITDA
- 0.5x
- Free cash flow (TTM)
- $-338M
- Quality vs sector
- —
Figures from the statements the company filed with the SEC (10-K, 10-Q). Free cash flow = operating cash flow − capital expenditures; empty if the company does not report capex. “Quality vs sector”: 0 to 100, the average of its percentiles in ROE, operating margin, free-cash-flow margin, revenue and earnings growth and net debt / EBITDA (at least 3 needed) against companies in its sector above $300M. How each figure is calculated
Shares outstanding: buybacks and dilution
2025: 87.3 M
- 1 year
- +1.9%
- 3 years
- +1.5%
- 5 years
- +0.3%
- Buybacks (FY 2025)
- $21.4M
- Share issuance
- no data
- Stock-based compensation
- $1.8M1.1% of revenue
- Dividends paid
- no data
From the statements the company filed with the SEC (10-K). The change compares average diluted shares of each fiscal year, on today's basis: negative = it bought back more than it issued; positive = dilution. “No data” = the company does not report that item under a tag we can read; it does not mean zero.
Earnings quality and debt
- Operating cash flow ÷ net income (12 months)
- -0.57
- Interest coverage (operating income ÷ interest)
- −3.3 timesnegative operating income
- Debt due within 12 months
- $8.1M0.02 times cash and investments
- Year 1$4.1M
- Year 2$8.1M
- Year 3$8.1M
- Year 4$12.2M
- Year 5$293M
- Later—
From the figures the company filed with the SEC. Cash flow over net income near or above 1 means earnings are collected in cash; far below, that part is accounting. Coverage says how many times operating income pays the latest fiscal year's interest. Maturities come from the debt note of the latest annual report, counted from its closing date. “No data” never means zero.
Insiders (Form 4)
10% owners who bought (6 m): 0
Open-market purchases, excluding 10b5-1 plans. Officers and directors only; joint filers of the same purchase count as one. 10% owners with no role are shown separately. 0 = nobody bought; “no data” = we do not have its Form 4 filings.
Each of the company's Form 4 filings, on EDGAR ↗Latest trades, with date and filing →
Above 5% (13D/13G)
Disclosed stakes, with their amendments. A filing is not always a purchase: there are also reductions and changes of filing entity.
This list may be incomplete: we hold 13D and 13G filings made since Dec 23, 2024. A holder above 5% that has not filed anything since then is not shown here.
- Hawk Ridge Capital Management5.1%13Gfiling ↗Event: Sep 16, 2026 · filed: Sep 23, 2026
- Telephone and Data Systems81.9%13D · amendmentfiling ↗Event: Sep 1, 2026 · filed: Sep 2, 2026
- Bank of America1.4%(fell below 5%)13G · amendmentfiling ↗Event: Jun 30, 2026 · filed: Aug 3, 2026
Above 5% over time (13D/13G)
Each holder with its filings in order. History since December 2024.
Flagged material events (8-K)
Change in directors or officers (Item 5.02)
Change in directors or officers (Item 5.02)
Alert items the company itself flagged in its 8-K filings with the SEC, most serious first. It is the form's label, with no interpretation from us: Item 5.02 covers routine appointments as well as a chief executive's departure; open the filing. The quoted headline is the original press release's.
All material events (8-K)
Earnings, agreements, financing, management changes and announcements from the last year, with a filter by type and a link to each filing.
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