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Mason Hawkins Sells Telephone & Data Systems Inc. Special Shares

June 03, 2009 | About:
guruek

guruek

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(GuruFocus.com, Updated on June 3, 2009) Mason Hawkins continues to sell both the common shares ( TDS) and special stock of Telephone & Data System Inc, according to GuruFocus Data. The latest transaction is on April 28, 2009, when Mason Hawkins reduced his holding in common shares ( TDS) by 7.71%, from 3.075 million shares to 2.838 shares at the price of $28.34 per share. Mason Hawkins has been reducing his holding in the telecommunication company since at least July 27, 2007 when he sold 8.53% of his holdings at $69.94 per share.

Ticker Date Trading Price Comment Current Shares
TDS 2009-04-28 $28.34 Reduce -7.71% 2,838,648
TDS 2009-02-20 $29.92 Reduce -0.55% 3,075,748
TDS 2008-12-15 $30.49 Reduce -1.15% 3,102,500
TDS 2008-05-15 $41.8 Reduce -0.79% 3,203,800
TDS 2007-07-27 $69.94 Reduce -8.53% 3,710,280


Mason Hawkins has been reducing his holding is the Special Shares ( TDS-S) of the Telephone & Data Services as well. Since May 15, 2008, he has reduced his holding in Special shares from 16.6 million shares to the current 12.97 million shares. His latest trading is also on May 29, 2009 at the price of $29.18 per share.

Ticker Date Trading Price Comment Current Shares
TDS-S 2009-05-29 $29.18 Reduce -12.22% 12,971,593
TDS-S 2009-04-28 $25 Reduce -4.2% 14,776,895
TDS-S 2008-12-10 $28.75 Reduce -2.18% 15,519,047
TDS-S 2008-05-15 $45.88 Reduce -0.52% 16,592,747


Telephone and Data Systems is a diversified telecommunications company. It provides wireless, telephone and broadband services to more than 7.4 million customers in 36 states through its business units U.S. Cellular and TDS Telecom.

Telephone & Data Systems is a diversified telecommunications corporation. Through its business units U.S. Cellular and TDS Telecom TDS operates primarily by providing cellular and local telephone service. Telephone & Data Systems has a market cap of $3.50 billion; its shares were traded at around $29.05. The dividend yield of the stock is 1.47%.

According to the company’s press release, the two classes of Telephone & Data Services shares were created back in early part of 2005. The special shares were created as a result a special dividend of common shares. Special Common Shares represent shares of common stock of TDS, which are substantially identical in rights, powers and limitations to the Common Shares, except that, unless required by law, the Special Common Shares are not voted in matters other than the election of certain directors.

After the latest transaction, Mason Hawkins still owns 5.5% of the company’s common shares and 24.2% of the total Special shares.

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