SHEN in the 13F filings

Shenandoah Telecommunication · CUSIP 82312B106

Quarter

Q2 2026 Q1 2026 Q4 2025 Q3 2025 Q2 2025 Q1 2025 Q4 2024 Q3 2024 Q2 2024 Q1 2024 Q4 2023 Q3 2023

Quarter end: 31 Dec 2025; the date the book describes
Filed: 19 Feb 2026; latest of these filings; the earliest 5 Feb 2026
Managers listing it: 19; at least, of 95 tracked, among listed positions
Comparable managers: 92; filed both Q3 2025 and Q4 2025; 2 listed it in both
Shares listed: 6,099,877; combined, among listed positions
Reported value: $71m; combined, at the quarter end

Among the 92 comparable managers: 9 buyers (opened or added shares) and 8 sellers (trimmed or exited), at least, among listed positions. Their net change in shares was +1,802,872.

Managers listing SHEN in Q4 2025

Share of 13F value is the position’s reported value over everything the manager reported that quarter. The share change is against Q3 2025, and only where both filings list the position. A rise in value with no rise in shares is the price, not buying.

ActionShare of book at least

19 of 19 holders

				Action		Filing
Southeastern Asset Management Inc	2,940,296	$34m	1.51%	Added	+492,056	13 Feb 2026 (the filing on sec.gov)
Millennium Management LLC	1,087,246	$13m	under 0.1%	Added	+997,882	17 Feb 2026 (the filing on sec.gov)
Invesco Ltd	607,617	$7.0m	under 0.1%	Added	+154,115	19 Feb 2026 (the filing on sec.gov)
Fidelity (FMR LLC)	289,340	$3.3m	under 0.1%	Added	+174,631	17 Feb 2026 (the filing on sec.gov)
GAMCO Investors Inc	263,126	$3.0m	under 0.1%	Held	0	5 Feb 2026 (the filing on sec.gov)
Two Sigma Investments LP	252,179	$2.9m	under 0.1%	Added	+46,131	17 Feb 2026 (the filing on sec.gov)
Squarepoint Ops LLC	125,572	$1.5m	under 0.1%	Added	+104,511	13 Feb 2026 (the filing on sec.gov)
ExodusPoint Capital Management LP	76,692	$887k	under 0.1%	Trimmed	-28,953	17 Feb 2026 (the filing on sec.gov)
Jane Street Group LLC	70,738	$818k	under 0.1%	Added	+948	12 Feb 2026 (the filing on sec.gov)
T. Rowe Price Associates Inc	68,126	$788k	under 0.1%	Added	+6,820	17 Feb 2026 (the filing on sec.gov)
Renaissance Technologies LLC	65,100	$753k	under 0.1%	Trimmed	-50,600	12 Feb 2026 (the filing on sec.gov)
AllianceBernstein LP	60,086	$695k	under 0.1%	Held	0	17 Feb 2026 (the filing on sec.gov)
Two Sigma Advisers LP	54,700	$632k	under 0.1%	Added	+17,600	17 Feb 2026 (the filing on sec.gov)
Citadel Advisors LLC	42,082	$486k	under 0.1%	Trimmed	-74,343	17 Feb 2026 (the filing on sec.gov)
Brevan Howard Capital Management LP	22,633	$262k	under 0.1%	Trimmed	-11,376	17 Feb 2026 (the filing on sec.gov)
Janus Henderson Group Ltd	20,897	$242k	under 0.1%	Held	0	17 Feb 2026 (the filing on sec.gov)
Verition Fund Management LLC	20,927	$242k	under 0.1%	Trimmed	-13	13 Feb 2026 (the filing on sec.gov)
Susquehanna International Group LLP	17,967	$208k	under 0.1%	Trimmed	-7,881	17 Feb 2026 (the filing on sec.gov)
Caxton Associates LLP	14,553	$168k	under 0.1%	Trimmed	-13,155	13 Feb 2026 (the filing on sec.gov)

Largest increases and reductions, by shares

Q3 2025 to Q4 2025, among managers that listed it in both quarters or opened it.

Increases

Millennium Management LLCexisting position · 1,087,246 shares now+997,882
Southeastern Asset Management Incexisting position · 2,940,296 shares now+492,056
Fidelity (FMR LLC)existing position · 289,340 shares now+174,631
Invesco Ltdexisting position · 607,617 shares now+154,115
Squarepoint Ops LLCexisting position · 125,572 shares now+104,511

Reductions

Citadel Advisors LLCexisting position · 42,082 shares now-74,343
Renaissance Technologies LLCexisting position · 65,100 shares now-50,600
ExodusPoint Capital Management LPexisting position · 76,692 shares now-28,953
Caxton Associates LLPexisting position · 14,553 shares now-13,155
Brevan Howard Capital Management LPexisting position · 22,633 shares now-11,376

New positions and exits

At least these many: a manager is shown exiting only where its own filing shows the position gone.

New (0)

No new position among listed positions.

Exited (1)

Quantbot Technologies LPwas $74k

Ownership over time

Every quarter on file. A quarter-end value moves with the price as well as with the shares held; buyers and sellers count comparable managers, by shares.

1 in Q3 2024 to 2 in Q2 2026

Tracked managers listing it, at least.

the quarter shown share split complete books; unmarked quarters rest on listed positionsClick a quarter to open it.

SHEN by quarter
Quarter	Holders	Reported value	Buyers	Sellers
Q1 2014	1	$2.7m	n.a.	n.a.
Q4 2014	1	$2.6m	n.a.	n.a.
Q2 2015	1	$2.9m	n.a.	n.a.
Q3 2015	2	$9.2m	n.a.	n.a.
Q4 2015	3	$34m	n.a.	n.a.
Q1 2016	3	$12m	n.a.	n.a.
Q2 2016	3	$52m	n.a.	n.a.
Q3 2016	2	$38m	n.a.	n.a.
Q4 2016	1	$4.3m	n.a.	n.a.
Q1 2017	1	$4.4m	n.a.	n.a.
Q2 2017	1	$4.7m	n.a.	n.a.
Q3 2017	1	$5.6m	n.a.	n.a.
Q4 2017	1	$4.8m	n.a.	n.a.
Q1 2018	2	$6.7m	n.a.	n.a.
Q2 2018	1	$4.6m	n.a.	n.a.
Q3 2018	2	$52m	n.a.	n.a.
Q4 2018	2	$67m	n.a.	n.a.
Q1 2019	3	$73m	n.a.	n.a.
Q2 2019	3	$67m	n.a.	n.a.
Q3 2019	2	$4.0m	n.a.	n.a.
Q4 2019	2	$70m	n.a.	n.a.
Q1 2020	3	$92m	n.a.	n.a.
Q2 2020	2	$87m	n.a.	n.a.
Q3 2020	2	$77m	n.a.	n.a.
Q4 2020	2	$71m	n.a.	n.a.
Q1 2021	2	$67m	n.a.	n.a.
Q2 2021	2	$58m	n.a.	n.a.
Q3 2021	2	$3.6m	n.a.	n.a.
Q4 2021	2	$3.0m	n.a.	n.a.
Q1 2022	1	$2.6m	n.a.	n.a.
Q2 2022	1	$2.5m	n.a.	n.a.
Q3 2022	1	$1.9m	n.a.	n.a.
Q4 2022	1	$1.8m	n.a.	n.a.
Q1 2023	2	$2.5m	n.a.	n.a.
Q2 2023	2	$2.5m	n.a.	n.a.
Q3 2023	2	$2.7m	n.a.	n.a.
Q4 2023	2	$2.6m	0	2
Q1 2024	2	$1.2m	2	0
Q2 2024	2	$3.0m	2	0
Q3 2024	1	$2.2m	1	0
Q4 2024	1	$2.8m	1	0
Q1 2025	2	$15m	2	0
Q2 2025	2	$35m	2	0
Q3 2025	2	$36m	1	0
Q4 2025	2	$37m	9	8
Q1 2026	2	$50m	9	9
Q2 2026	2	$44m	8	9

Compare with…

Holders over time, buyers and sellers, and the managers holding both, side by side for up to four stocks.

SHEN and NFLX →SHEN and TMUS →SHEN and CMCSA →Choose a stock to compare with SHEN →

How much of the picture this is

A 13F is a manager’s long US-listed equity book at a quarter end, filed up to 45 days later. It shows no shorts, cash, bonds or performance, and it is never today’s portfolio. Large books are listed to their largest positions, so a manager missing from this table may still hold a small position below that line. These are 95 tracked managers, not the institutional market.

Which funds own SHEN, latest filings →Back to the 13F Explorer →

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