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ARRAY DIGITAL INFRASTRUCTURE, INC.

ARRAY DIGITAL INFRASTRUCTURE, INC. is an American radiotelephone communications company based in Chicago.2

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Last updated Oct 21, 2026.

Overview

$163.0MRevenue, fiscal 20253
$48.8MNet income, fiscal 20253

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  • TickerAD on NYSE2
  • IndustryRadiotelephone Communications2
  • HeadquartersChicago, United States2
  • Incorporated inDE4
  • Business address500 West Madison Street, Suite 810, Chicago, Il 606614
  • Filer categoryLarge accelerated filer4
  • Legal formCorporation2
  • LEI549300B164AZXESI6E032
  • StatusActive2
  • LEI statusLapsed (not renewed)2
  • Registered addressC/O THE PRENTICE-HALL CORPORATION SYSTEM, INC., 19808 Wilmington, United States2
  • Registered withDivision of Corporations, Department of State, 20241262

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On August 1, 2025, United States Cellular Corporation changed its name to Array Digital Infrastructure, Inc. (Array). Array is used throughout this report even when referring to historical periods. On August 12, 2025, the Array Common Shares ticker symbol on the New York Stock Exchange changed to "AD". Array connects America through digital infrastructure by leasing tower space to tenants and providing ancillary services. As of December 31, 2025 , Array owns 4,450 towers in 19 states. Array also holds noncontrolling interests in primarily wireless operating companies and holds certain wireless spectrum licenses. As of December 31, 2025, Array is an 82.0%-owned subsidiary of Telephone and Data Systems, Inc. (TDS). Through July 31, 2025, Array provided wireless communication services; these operations and certain wireless spectrum licenses were disposed of on August 1, 2025, as discussed f…6 From its latest annual report

Financials

From the company’s reports to the SEC. Every number links to the filing it came from.

Key numbers, fiscal 2025

-56.8%Operating margin3
29.9%Net margin3
-95.6%Revenue growth, 20253
1.9%Return on equity3
$173.6MFree cash flow3

Where the money goes

Where each dollar of revenue went, fiscal 2025

  • Cost of revenue29¢$79.5M
  • Selling, general and admin31¢$84.4M
  • Interest10¢$28.2M
  • Income tax11¢$31.1M
  • Profit18¢$48.8M

Out of $163.0M in revenue.3

Where each dollar of operating cash went, fiscal 2025

  • Capital spending14¢$27.2M
  • Share buybacks11¢$21.4M
  • Kept or used elsewhere76¢$152.3M

Out of $200.8M of cash from operations.3

Financial statements

Revenue78910113$163.0M in 2025−96% since 2018
0$2.0B$4.0B$6.0B2018: $3.9B$3.9B20182019: $3.9B$3.9B2019+1%2020: $4.0B$4.0B2020+0%2021: $4.0B$4.0B2021+2%2022: $4.1B$4.1B2022+1%2023: $3.8B$3.8B2023−7%2024: $3.7B$3.7B2024−4%2025: $163.0M$163.0M2025−96%
Operating income78910113-$92.5M in 2025
-$400.0M-$200.0M0$200.0M2018: $158.0M$158.0M20182019: $112.0M$112.0M2019−29%2020: $173.0M$173.0M2020+54%2021: $170.0M$170.0M2021−2%2022: $69.0M$69.0M2022−59%2023: -$112.2M-$112.2M20232024: -$260.3M-$260.3M2024+132%2025: -$92.5M-$92.5M2025−64%
Net income78910113$48.8M in 2025−67% since 2018
-$100.0M0$100.0M$200.0M$300.0M2018: $150.0M$150.0M20182019: $127.0M$127.0M2019−15%2020: $229.0M$229.0M2020+80%2021: $155.0M$155.0M2021−32%2022: $30.0M$30.0M2022−81%2023: $54.5M$54.5M2023+82%2024: -$39.4M-$39.4M20242025: $48.8M$48.8M2025
Fiscal year20182019202020212022202320242025
Revenue$3.9B7$3.9B8$4.0B9$4.0B10$4.1B11$3.8B11$3.7B11$163.0M3
Cost of revenue$67.9M3$73.0M3$79.5M3
Selling, general and admin$1.4B7$1.4B8$1.4B9$1.3B10$1.4B11$101.4M3$102.6M3$84.4M3
Operating expenses$4.0B10$4.1B11$212.7M3$363.3M3$255.5M3
Operating income$158.0M7$112.0M8$173.0M9$170.0M10$69.0M11-$112.2M3-$260.3M3-$92.5M3
Interest$116.0M7$110.0M8$112.0M9$175.0M10$163.0M11$14.6M3$12.4M3$28.2M3
Income before tax$180.0M10$72.0M11$41.2M3-$99.7M3$141.1M3
Income tax$51.0M7$52.0M8$17.0M9$20.0M10$37.0M11$32.9M3-$19.3M3-$31.1M3
Net income$150.0M7$127.0M8$229.0M9$155.0M10$30.0M11$54.5M3-$39.4M3$48.8M3
Earnings per share$1.757$1.478$2.669$1.8010$0.3511$0.643-$0.463$0.573
Earnings per share (diluted)$1.727$1.448$2.629$1.7710$0.3511$0.633-$0.463$0.563
Shares (weighted, basic)86.0M shares1085.0M shares1185.2M shares385.6M shares385.9M shares3
Shares (weighted, diluted)87.0M shares1086.0M shares1186.7M shares385.6M shares387.3M shares3

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Corporate structure

ARRAY DIGITAL INFRASTRUCTURE, INC. is part of a group headed by Telephone and Data Systems. 183 entities, 1 country on record. Switch between the flow chart and the network, and select any entity to see its details.

Major holders of ARRAY DIGITAL INFRASTRUCTURE, INC.

  • Telephone and Data Systems Wilmington, Delaware, United States
    • ARRAY DIGITAL INFRASTRUCTURE, INC. Chicago, Illinois, United States
      • USCC MASTER NOTE TRUST Subsidiary · Wilmington, Delaware, United States
    • BendBroadband Subsidiary · Bend
    • U.S. Cellular Subsidiary · Chicago
    • ADI FINANCIAL, LLC Subsidiary · Illinois, United States
    • ADI HOLDING COMPANY, LLC Subsidiary · Delaware, United States
    • ADI INVESTMENT COMPANY OF FRESNO Subsidiary · California, United States
    • ADI INVESTMENT COMPANY OF LOS ANGELES, INC. Subsidiary · Indiana, United States
    • ADI INVESTMENT COMPANY OF OKLAHOMA CITY, LLC Subsidiary · Oklahoma, United States
    • ADI INVESTMENT COMPANY, LLC Subsidiary · Delaware, United States
    • ADI LEASING COMPANY, LLC Subsidiary · Delaware, United States
    • ADI MANAGEMENT SERVICES, LLC Subsidiary · Delaware, United States
    • ADI OPERATING COMPANY, LLC Subsidiary · Delaware, United States
    • ADI WIRELESS INVESTMENT, INC. Subsidiary · Delaware, United States
    • ADIOC NEBRASKA/KANSAS, INC. Subsidiary · Delaware, United States
    • ADIOC OF BANGOR, INC. Subsidiary · Maine, United States
    • ADIOC OF CEDAR RAPIDS, INC. Subsidiary · Delaware, United States
    • ADIOC OF CENTRAL ILLINOIS, LLC Subsidiary · Illinois, United States
    • ADIOC OF CUMBERLAND, LLC Subsidiary · Delaware, United States
    • ADIOC OF DUBUQUE, INC. Subsidiary · Iowa, United States
    • ADIOC OF GREATER IOWA, LLC Subsidiary · Delaware, United States
    • ADIOC OF GREATER MISSOURI, LLC Subsidiary · Delaware, United States
    • ADIOC OF GREATER NORTH CAROLINA, LLC Subsidiary · Delaware, United States
    • ADIOC OF GREATER OKLAHOMA, LLC Subsidiary · Oklahoma, United States
    • ADIOC OF JACKSONVILLE, LLC Subsidiary · Delaware, United States
    • ADIOC OF KNOXVILLE, INC. Subsidiary · Tennessee, United States
    • and 156 more

Built from parent and subsidiary links from GLEIF, the Global Legal Entity Identifier Foundation (CC0); subsidiaries listed in Exhibit 21 of annual reports filed with the SEC; subsidiaries, stakes and holdings from Wikidata (CC0); major holders from Schedules 13D and 13G. Each entity in the chart links to its source.

What it owns

What ARRAY DIGITAL INFRASTRUCTURE, INC. reports owning in its annual reports to the SEC: buildings, land and equipment, real estate and locations, investments, intangible assets and inventory, at the end of its latest fiscal year and a year before.

Property and equipment

ItemLatestA year beforeChange
Land$44.3M3 Dec 31, 2025$41.7M3 Dec 31, 2024+6.0%
Buildings and improvements$279.0M11 Dec 31, 2024$281.0M11 Dec 31, 2023−0.7%
Machinery and equipment$3.5B11 Dec 31, 2024$4.4B11 Dec 31, 2023−20.3%
Furniture and fixtures$179.0M11 Dec 31, 2024$193.0M11 Dec 31, 2023−7.3%
Computer equipment and software$3.0M3 Dec 31, 2025$2.7M3 Dec 31, 2024+10.5%
Leasehold improvements$321.5M3 Dec 31, 2025$317.0M3 Dec 31, 2024+1.4%
Construction in progress$10.4M3 Dec 31, 2025$6.0M3 Dec 31, 2024+74.4%
Property and equipment, before depreciation$1.1B3 Dec 31, 2025$1.0B3 Dec 31, 2024+4.0%
Accumulated depreciation$690.0M3 Dec 31, 2025$653.6M3 Dec 31, 2024+5.6%
Property and equipment, net$389.0M3 Dec 31, 2025$384.0M3 Dec 31, 2024+1.3%
Operating-lease assets (leased space)$473.0M3 Dec 31, 2025$465.3M3 Dec 31, 2024+1.7%

Investments

ItemLatestA year beforeChange
Cash and cash equivalents$113.4M3 Dec 31, 2025$143.7M3 Dec 31, 2024−21.1%
Stakes in other companies (equity method)$399.8M3 Dec 31, 2025$440.5M3 Dec 31, 2024−9.2%

Inventory

ItemLatestA year beforeChange
Inventory, total$179.0M11 Dec 31, 2024$199.0M11 Dec 31, 2023−10.1%

Properties, in its own words

As of December 31, 2025, Array owns 4,450 towers in 19 states. These sites are primarily located in New England, the Mid-Atlantic, the Midwest and Great Plains, and the Pacific Northwest. Array's portfolio consists of monopole, self-support (lattice), and guyed towers. As of December 31, 2025, Array’s gross investment in property, plant and equipment was $1,079.0 million. Array’s corporate headquarters is located in Chicago, IL.

Item 2 of the 10-K filed Feb 20, 2026.6

Leadership

Who has led ARRAY DIGITAL INFRASTRUCTURE, INC., and when. Pick a name to see everywhere that person has worked.

Chief executive

  1. John E. Rooney2006–2010
  2. Mary N. Dillon2010–2013
  3. Kenneth R. Meyers2013–2020
  4. Laurent C. Therivel2020–2025
  5. Douglas W. Chambers2025
  6. Anthony J. Carlson2025–now

President

  1. John E. Rooney2006–2010
  2. Steven T. Campbell2006
  3. Mary N. Dillon2010–2013
  4. Kenneth R. Meyers2013–2020
  5. Laurent C. Therivel2020–2025
  6. Douglas W. Chambers2025
  7. Anthony J. Carlson2025–now

Chief financial officer

  1. Kenneth R. Meyers2006
  2. Steven T. Campbell2007–2020
  3. Douglas W. Chambers2020–now

Chief operating officer

  1. Jay Ellison2006–2020
2010201520202025
Board members and other officers (50)

Subsidiaries and ownership

Subsidiaries (Exhibit 21)

  • ADI FINANCIAL, LLC ILLINOIS5
  • ADI HOLDING COMPANY, LLC DELAWARE5
  • ADI INVESTMENT COMPANY OF FRESNO CALIFORNIA5
  • ADI INVESTMENT COMPANY OF LOS ANGELES, INC. INDIANA5
  • ADI INVESTMENT COMPANY OF OKLAHOMA CITY, LLC OKLAHOMA5
  • ADI INVESTMENT COMPANY, LLC DELAWARE5
  • ADI INVESTMENT CORPORATION DELAWARE5
  • ADI LEASING COMPANY, LLC DELAWARE5
  • ADI MANAGEMENT SERVICES, LLC DELAWARE5
  • ADI OPERATING COMPANY, LLC DELAWARE5
  • ADI WIRELESS INVESTMENT, INC. DELAWARE5
  • ADIOC NEBRASKA/KANSAS, INC. DELAWARE5
  • ADIOC NEBRASKA/KANSAS, LLC DELAWARE5
  • ADIOC OF BANGOR, INC. MAINE5
  • ADIOC OF CEDAR RAPIDS, INC. DELAWARE5
  • ADIOC OF CENTRAL ILLINOIS, LLC ILLINOIS5
  • ADIOC OF CUMBERLAND, LLC DELAWARE5
  • ADIOC OF DUBUQUE, INC. IOWA5
  • ADIOC OF GREATER IOWA, LLC DELAWARE5
  • ADIOC OF GREATER MISSOURI, LLC DELAWARE5
  • ADIOC OF GREATER NORTH CAROLINA, LLC DELAWARE5
  • ADIOC OF GREATER OKLAHOMA, LLC OKLAHOMA5
  • ADIOC OF JACKSONVILLE, LLC DELAWARE5
  • ADIOC OF KNOXVILLE, INC. TENNESSEE5
All 71 listed subsidiaries
  • ADIOC OF LACROSSE, LLC DELAWARE5
  • ADIOC OF MEDFORD, INC. OREGON5
  • ADIOC OF OREGON RSA # 5, INC. DELAWARE5
  • ADIOC OF PENNSYLVANIA RSA NO. 10-B2, LLC DELAWARE5
  • ADIOC OF RICHLAND, INC. WASHINGTON5
  • ADIOC OF SOUTH CAROLINA RSA # 4, INC. SOUTH CAROLINA5
  • ADIOC OF VIRGINIA RSA # 3, INC. VIRGINIA5
  • ADIOC OF WASHINGTON-4, INC. DELAWARE5
  • ADIOC OF YAKIMA, INC. WASHINGTON5
  • ADVANTAGE SPECTRUM, L.P. DELAWARE5
  • BANGOR CELLULAR TELEPHONE, L.P. DELAWARE5
  • CALIFORNIA RURAL SERVICE AREA #1, INC. CALIFORNIA5
  • CEDAR RAPIDS CELLULAR TELEPHONE, L.P. DELAWARE5
  • CELLVEST, INC. DELAWARE5
  • CENTRAL CELLULAR TELEPHONES, LTD. ILLINOIS5
  • CHAMPLAIN CELLULAR, INC. NEW YORK5
  • COMMUNITY CELLULAR TELEPHONE COMPANY TEXAS5
  • CROWN POINT CELLULAR, INC. NEW YORK5
  • DUBUQUE CELLULAR TELEPHONE, L.P. DELAWARE5
  • HARDY CELLULAR TELEPHONE COMPANY DELAWARE5
  • IOWA RSA # 12, INC. DELAWARE5
  • IOWA RSA # 3, INC. DELAWARE5
  • IOWA RSA # 9, INC. DELAWARE5
  • JACKSONVILLE CELLULAR PARTNERSHIP NORTH CAROLINA5
  • JACKSONVILLE CELLULAR TELEPHONE COMPANY NORTH CAROLINA5
  • KANSAS #15 LIMITED PARTNERSHIP DELAWARE5
  • KENOSHA CELLULAR TELEPHONE, L.P. DELAWARE5
  • KING STREET WIRELESS, L.P. DELAWARE5
  • KING STREET WIRELESS, LLC DELAWARE5
  • MADISON CELLULAR TELEPHONE COMPANY WISCONSIN5
  • MAINE RSA # 1, INC. MAINE5
  • MAINE RSA # 4, INC. MAINE5
  • MCDANIEL CELLULAR TELEPHONE COMPANY DELAWARE5
  • MINNESOTA INVCO OF RSA # 7, INC. DELAWARE5
  • NEWPORT CELLULAR, INC. NEW YORK5
  • NH #1 RURAL CELLULAR, INC. NEW HAMPSHIRE5
  • OREGON RSA #2, INC. OREGON5
  • PCS WISCONSIN, LLC WISCONSIN5
  • RACINE CELLULAR TELEPHONE COMPANY WISCONSIN5
  • SUNSHINE SPECTRUM, LLC DELAWARE5
  • TEXAS INVCO OF RSA # 6, INC. DELAWARE5
  • TOWNSHIP CELLULAR TELEPHONE, INC. DELAWARE5
  • VERMONT RSA NO. 2-B2, INC. DELAWARE5
  • WASHINGTON RSA # 5, INC. WASHINGTON5
  • WESTELCOM CELLULAR, INC. NEW YORK5
  • WESTERN SUB-RSA LIMITED PARTNERSHIP DELAWARE5
  • YAKIMA MSA LIMITED PARTNERSHIP DELAWARE5

The subsidiaries the company lists in Exhibit 21 of its annual report, as filed.

Former names

  • UNITED STATES CELLULAR CORPMay 17, 1994 to Jul 25, 20254

Timeline

  1. Aug 7, 20268-K Results of operations73
  2. Jun 1, 20268-K Completed an acquisition or sale; Other events74
  3. May 21, 20268-K Shareholder vote75
  4. May 8, 20268-K Other events76
  5. May 8, 20268-K Results of operations77
  6. Mar 24, 20268-K Executive or director change78
  7. Feb 20, 20268-K Results of operations79
  8. Jan 13, 20268-K Completed an acquisition or sale; Other events80
  9. Dec 12, 20258-K Entered a material agreement81
  10. Nov 20, 2025New chief executive Anthony J. Carlson becomes CEO18
  11. Nov 7, 20258-K Results of operations82
  12. Nov 7, 20258-K Executive or director change83
  13. Oct 10, 20258-K Shareholder vote84
  14. Aug 5, 2025New chief executive Douglas W. Chambers becomes CEO17
  15. Jul 1, 2020New chief executive Laurent C. Therivel becomes CEO19
  16. Jul 8, 2013New chief executive Kenneth R. Meyers becomes CEO20
  17. Jun 1, 2010New chief executive Mary N. Dillon becomes CEO21
  18. Feb 2, 2006New chief executive John E. Rooney becomes CEO22
  19. Dec 22, 1983Founded ARRAY DIGITAL INFRASTRUCTURE, INC. is founded2

Calendar

Coming up

  1. Nov 6, 2026Reports results for the quarter ending Sep/2026 A year earlier it reported $0.97 a share, on Nov 7, 2025.85

When it reported results

  1. Aug 7, 2026Reported quarterly or annual results73
  2. May 8, 2026Reported quarterly or annual results77
  3. Feb 20, 2026Reported quarterly or annual results79
  4. Nov 7, 2025Reported quarterly or annual results82
  5. Aug 11, 2025Reported quarterly or annual results86
  6. May 2, 2025Reported quarterly or annual results87
  7. Feb 21, 2025Reported quarterly or annual results88
  8. Nov 1, 2024Reported quarterly or annual results89

Upcoming dates from Nasdaq's calendar; past results from the company's 8-K filings (Item 2.02). The full markets calendar

Filings

262 filings to the SEC since October 2021: 7 annual reports, 16 quarterly reports, 54 major events, 126 insider forms, 12 large holders, 47 other. The latest 20:

  1. Sep 23, 2026SCHEDULE 13G EDGAR
  2. Sep 16, 2026144 EDGAR
  3. Sep 15, 20264 EDGAR
  4. Sep 2, 2026SCHEDULE 13D/A EDGAR
  5. Aug 7, 202610-Q EDGAR
  6. Aug 7, 20268-K EDGAR
  7. Aug 3, 2026SCHEDULE 13G/A EDGAR
  8. Jun 1, 20268-K EDGAR
  9. May 21, 20268-K EDGAR
  10. May 20, 20263 EDGAR
  11. May 20, 20264 EDGAR
  12. May 20, 20264 EDGAR
  13. May 20, 20264 EDGAR
  14. May 14, 2026SCHEDULE 13G EDGAR
  15. May 8, 2026SCHEDULE 13D/A EDGAR
  16. May 8, 202610-Q EDGAR
  17. May 8, 20268-K EDGAR
  18. May 8, 20268-K EDGAR
  19. Apr 7, 2026ARS EDGAR
  20. Apr 7, 2026DEFA14A EDGAR

The 262 filings since October 2021 can be filtered by form type and year here when JavaScript is on.

Every filing from the last five years, summarized. The full record is on SEC EDGAR.

Insider trades

12 open-market trades by officers, directors and large owners since October 2021: 0 buys and 12 sales. Grants, option exercises and gifts are left out.

DateWhoTradeSharesPriceValueFiling
Sep 11, 2026HARCZAK HARRY J JRDirectorSale6,832$38.19$260.9KForm 4
Aug 18, 2025HARCZAK HARRY J JRDirectorSale1,960$76.20$149.4KForm 4
Aug 12, 2025Chambers Douglas WInterim President and CEOSale93,300$75.77$7.1MForm 4
Aug 5, 2024Lowell Kevin REVP, Chief People OfficerSale37,597$49.34$1.9MForm 4
Apr 10, 2023IRIZARRY MICHAELEVP-CTOSale18,826$22.15$417.0KForm 4
Dec 9, 2022JOSEFOWICZ GREGORY PDirectorSale1,834$19.61$36.0KForm 4
Aug 16, 2022Drake DeirdreDirectorSale8,574$30.55$261.9KForm 4
Aug 11, 2022Drake DeirdreDirectorSale49$30.70$1.5KForm 4
Aug 10, 2022Drake DeirdreDirectorSale7,364$30.68$225.9KForm 4
May 12, 2022DALY RONALD EDirectorSale3,359$28.97$97.3KForm 4
Apr 5, 2022IRIZARRY MICHAELEVP-CTOSale20,957$31.05$650.7KForm 4
Mar 25, 2022Crowley J SamuelDirectorSale2,752$30.56$84.1KForm 4

From Forms 4 filed with the SEC.

Major holders

Investors who own more than 5% of the shares must tell the SEC: a 13D if they may seek to influence the company, a 13G if they hold passively.

Executive pay

What the company paid its top executives, from the summary compensation table in its proxy statement. Total pay includes salary, bonus, stock and option awards and other pay, as the company valued them.

YearExecutiveAgeSalaryTotal pay
2025Former President and Chief Executive Officer$590.7K$9.3M94
2025Former Executive Vice PresidentChief Technology Officer and Head of Engineering and Information Technology$571.8K$4.7M94
2025Former President and Chief Executive Officer and Former Executive Vice President, Chief Financial Officer$654.5K$4.0M94
2025President and Chief Executive Officer$244.2K$584.8K94
2024Former President and Chief Executive Officer$901.9K$7.7M94
2024Former Executive Vice PresidentChief Technology Officer and Head of Engineering and Information Technology$800.8K$3.7M94
2024Former President and Chief Executive Officer and Former Executive Vice President, Chief Financial Officer$598.8K$2.6M94
2023Former President and Chief Executive Officer$866.9K$10.9M94
2023Former Executive Vice PresidentChief Technology Officer and Head of Engineering and Information Technology$783.7K$4.4M94
2023Former President and Chief Executive Officer and Former Executive Vice President, Chief Financial Officer$580.4K$3.4M94

Held by these funds

The largest holders among investment managers' 13F reports for the quarter ending Jun 30, 2026, the top 25 of 100. Change is in shares since the quarter before.

FundSharesValueShare of the fundChange
Dimensional Fund Advisors LP2,269,157$82.3M0.0%−30,425
Hawk Ridge Capital Management LP1,817,469$65.9M2.2%New
Jericho Capital Asset Management L.P.1,815,844$65.8M0.5%No change
Madison Avenue Partners, LP1,109,463$40.2M1.7%New
Gamco Investors, Inc. Et Al825,262$29.9M0.3%−19,300
American Century Companies Inc766,133$27.8M0.0%+159,354
Bank Of America Corp /de/740,572$26.9M0.0%−1,792,445
Loomis Sayles & Co L P707,437$25.7M0.0%−33,044
Oaktree Capital Management LP696,858$25.3M0.7%−27,586
Vanguard Capital Management LLC695,357$25.2M0.0%+13,245
Vanguard Portfolio Management LLC657,463$23.8M0.0%−9,820
Newtyn Management, LLC597,090$21.7M2.7%−1,019,766
Gabelli Funds LLC545,150$19.8M0.1%+3,200
Goldman Sachs Group Inc473,069$17.2M0.0%+375,198
BlackRock, Inc.400,915$14.5M0.0%+29,019
Qube Research & Technologies Ltd375,967$13.6M0.0%−25,976
State Street Corp254,423$9.2M0.0%+8,670
Knightsbridge Asset Management, LLC202,992$9.0M0.6%+92,371
Aberdeen Group plc230,410$8.4M0.0%−26,590
Tiptree Advisors, LLC203,115$7.4M4.6%+50,000
D. E. Shaw & Co., Inc.201,424$7.3M0.0%−18,541
Charles Schwab Investment Management Inc180,807$6.6M0.0%−5,657
Geode Capital Management, LLC172,260$6.2M0.0%−1,721
Fmr LLC148,736$5.4M0.0%+76,023
Slotnik Capital, LLC125,253$4.5M1.3%New

13F reports cover disclosed long positions in U.S. stocks only.

SEC filer profile

How ARRAY DIGITAL INFRASTRUCTURE, INC. is registered with the Securities and Exchange Commission, from its EDGAR record and the cover page of its latest annual report.

  • Name on EDGARARRAY DIGITAL INFRASTRUCTURE, INC.1
  • CIK0000821130
  • Employer ID (EIN)62-11473256
  • Filer statusLarge accelerated filer not an emerging growth company; not a smaller reporting company; not a shell company6
  • Incorporated inDelaware6
  • Fiscal year endsDecember 311
  • Industry code (SIC)4812 Radiotelephone Communications1
  • SEC reviewing officeOffice of Technology, Division of Corporation Finance1
  • Business address500 West Madison Street, Suite 810, Chicago, IL 606611
  • Phone86657345441
  • Shares outstanding53,400,000 Common Class B shares; 33,000,000 Common Class A shares as of Jan 31, 20266
  • AuditorPricewaterhouseCoopers LLP, Chicago, Illinois PCAOB ID 238; it also attests to the company’s internal control over financial reporting6
  • On EDGAR sinceJan 18, 19941
  • Filings1,767 in all: 4 (722), 8-K (345), 10-Q (98), 5 (68), 4/A (64), 3 (34), DEF 14A (34), SC 13D/A (34)1
    All 61 form types

    CORRESP (31), 10-K (28), UPLOAD (26), S-8 (22), 424B5 (20), DEFA14A (20), ARS (19), 10-Q/A (14), S-3 (14), EFFECT (13), SC 13G/A (12), 5/A (11), 144 (10), 8-A12B (10), 10-K/A (8), 8-K/A (8), 15-12B (6), FWP (6), NT 10-Q (6), 10-K405 (5), 25-NSE (5), CERTNYS (5), POS AM (5), S-3/A (5), SCHEDULE 13G/A (4), 3/A (3), 425 (3), CERT (3), DEFA14C (3), DEFM14C (3), PRE 14A (3), PREM14C (3), SC 13D (3), SC TO-I/A (3), SCHEDULE 13D/A (3), 25 (2), 424B2 (2), 424B3 (2), CT ORDER (2), NT 10-K (2), S-3ASR (2), SCHEDULE 13G (2), 10-K405/A (1), 424B4 (1), 6-K (1), 8-A12B/A (1), DEFR14A (1), POSASR (1), REGDEX (1), S-3MEF (1), S-8 POS (1), SC 13G (1), SC TO-I (1)

  • Latest filingsAnnual report (10-K) Feb 20, 2026
    Quarterly report (10-Q) Aug 7, 2026
    Proxy statement (DEF 14A) Apr 7, 2026
    Latest 8-K (8-K) Aug 7, 2026

Securities registered for trading

ClassSymbolExchange
Common Shares, $1 par valueADNew York Stock Exchange
6.25% Senior Notes due 2069UZDNew York Stock Exchange
5.50% Senior Notes due 2070UZENew York Stock Exchange
5.50% Senior Notes due 2070UZFNew York Stock Exchange

From the cover page of the 10-K filed Feb 20, 2026 (Section 12(b) of the Exchange Act).6

Risk factors and legal proceedings

The risks ARRAY DIGITAL INFRASTRUCTURE, INC. names in Item 1A of its 10-K filed Feb 20, 2026: 18 risks under these headings, as written.6

  • Announced Transactions and Strategic Alternatives Review Risk Factors
  • 1)Closing of the T-Mobile transaction occurred on August 1, 2025, and has required substantial changes to the manner in which Array’s remaining business is conducted, which could have a material adverse effect on Array's financial condition and results of operations.
  • 2)Array entered into License Purchase Agreements with Verizon and T-Mobile to sell certain wireless spectrum licenses. There is no guarantee that such transactions contemplated by the License Purchase Agreements will be consummated. Costs and uncertainties related to these transactions could have adverse effects on Array's financial condition or results of operations.
  • Operational Risk Factors
  • 3)An inability to monetize the remaining spectrum assets as well as the ongoing costs to retain the spectrum could adversely affect Array’s operations.
  • 4)Increasing competition in the tower industry could adversely affect Array’s revenues, negatively impact future growth and increase its costs to compete.
  • 5)There are economic and business risks associated with fixed rate annual escalators on colocation revenue contracts.
  • 7)Inability to protect Array’s real estate rights, with respect to land leases, could have an adverse effect on Array’s business, financial condition or results of operations.
  • 8)Advances or changes in technology could reduce the need for tower-based services.
  • 9)Array’s business, financial condition or results of operations may be adversely impacted by extreme weather events, climate-related events, natural disasters (including wildfires) and other unforeseen events.
  • 10)An inability to attract people of outstanding talent throughout all levels of the organization, to develop their potential through education and assignments, and to retain them by keeping them engaged, challenged and properly rewarded could have an adverse effect on Array's business, financial condition or results of operations.
  • 11)Costs, integration problems or other factors associated with acquisitions or divestitures of assets could have an adverse effect on Array’s business, financial condition or results of operations.
The other 8 risks
  • Financial Risk Factors
  • 12)Uncertainty in Array’s or TDS' future cash flow and liquidity, its level of indebtedness or the inability to access capital, deterioration in the capital markets, changes in interest rates, changes in Array’s or TDS' credit ratings or other factors could limit or restrict the availability of financing on terms and prices acceptable to Array.
  • 13)Array has significant investments in wireless operating entities that it does not control. Losses in the value of or cash flows from such investments could have an adverse effect on Array’s financial condition, cash flows or results of operations.
  • Regulatory, Legal and Governance Risk Factors
  • 14)Failure by Array to timely or fully comply with any existing applicable legislative and/or regulatory requirements or changes thereto could adversely affect Array’s business, financial condition or results of operations.
  • 15)Settlements, judgments, restraints on its current or future manner of doing business and/or costs resulting from pending and future legal and policy proceedings could have an adverse effect on Array’s business, financial condition or results of operations.
  • 16)There could be potential conflicts of interests between TDS and Array.
  • 17)Certain matters, such as control by TDS and provisions in the Array Restated Certificate of Incorporation, may serve to discourage or make more difficult a change in control of Array or have other consequences.
  • General Risk Factors
  • 18)Array has experienced, and in the future expects to experience, cyber-attacks or other breaches of information technology security of varying degrees on a regular basis, which could have an adverse effect on Array's business, financial condition or results of operations.
  • 19)Disruption in credit or other financial markets, a deterioration of U.S. or global economic conditions or other events could, among other things, impede Array’s access to or increase the cost of financing its operating and investment activities and/or result in reduced revenues and lower operating income and cash flows, which would have an adverse effect on Array’s business, financial condition or results of operations.

Legal proceedings

For more information related to legal proceedings, see Note 13 — Commitments and Contingencies in the Notes to Consolidated Financial Statements.

The opening of Item 3, Legal Proceedings.6

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