Third Point — TDS

How Third Point's position in TELEPHONE AND DATA SYSTEMS INC changed quarter by quarter. Change badges compare each quarter to the fund's immediately-prior filing.

Quarter	Shares	Value	% of portfolio	Change
Q1 2026	6,600,000	$277,860,000	13.34%	TRIM
Q4 2025	6,675,000	$273,675,000	3.76%	NEW