Who owns Shenandoah Telecommunications (SHEN)
Which tracked institutional funds hold SHEN, how they are positioned, and who is buying versus exiting — from SEC Form 13F-HR filings. See SHEN company fundamentals →
Ownership as of the 2026-Q2 13F filings (latest filed 2026-09-22). 13F is disclosed up to 45 days after quarter-end, so the most recent quarter fills in over the following weeks.
How the tape is positioned
16 tracked funds added or opened SHEN while 25 trimmed or exited it between 2026-Q1 and 2026-Q2 — the tape is split. When large holders disagree on a name, the funds moving first are sometimes ahead of the story.
A prompt to read the filings, not a verdict. 13F is a quarter-end snapshot disclosed up to 45 days late; a fund adds or exits for mandate, benchmark, and timing reasons that have nothing to do with a view on the stock. This is a starting question, not a signal to trade.
Conviction spread
SHEN’s largest tracked holder by dollar value, BlackRock, Inc., sizes it at 0.0% of its own reported 13F book, while the median holder sizes it at 0.0% of theirs — a 0.0pp conviction gap — its largest holder concentrates the name more heavily than the typical one.
Book-share is each fund’s reported value in SHEN divided by its whole reported 13F book, so it is comparable across funds of different sizes and is unaffected by stock splits. A higher share means a fund has committed more of its book to the name — a starting question about conviction, not a verdict or a signal to trade.
Institutional & insider positioning
Between 2026-Q1 and 2026-Q2, across 169 tracked filers holding SHEN, 93 increased or opened the position and 75 reduced or closed it; over the same quarter, there were no open-market insider Form 4s.
This fuses two public signals for the same quarter — how tracked institutions changed their positions and whether insiders bought or sold in the open market. It describes what was filed; it is a starting question, not a verdict or a signal to trade.
New buyers & exits
Funds opening or closing a position in SHEN between the 2026-Q1 and 2026-Q2 13F filings, and the largest changes among funds holding it in both. New buyers and exits are counted on fund presence (split-invariant); adds and trims are measured on reported value.
New buyers 5
- AQR CAPITAL MANAGEMENT LLC$1M
- Trexquant Investment LP$936K
- Jump Financial, LLC$872K
- VICTORY CAPITAL MANAGEMENT INC$797K
- Quantbot Technologies LP$501K
Full exits 5
- HRT FINANCIAL LP$2M
- CWM, LLC$1M
- NEW YORK STATE TEACHERS RETIREMENT SYSTEM$1M
- NATURAL INVESTMENTS, LLC$881K
- CANADA LIFE ASSURANCE Co$597K
Largest adds
- ROYCE & ASSOCIATES LP$9M
- AMERICAN CENTURY COMPANIES INC$3M
- CITIGROUP INC$2M
- STATE STREET CORP$2M
- DIMENSIONAL FUND ADVISORS LP$1M
- Nuveen, LLC$1M
Largest trims
- Whitebark Investors LP$9M
- MILLENNIUM MANAGEMENT LLC$7M
- SOUTHEASTERN ASSET MANAGEMENT INC/TN/$6M
- Invesco Ltd.$5M
- TWO SIGMA INVESTMENTS, LP$4M
- Broad Run Investment Management, LLC$4M
Institutional holders
One row per tracked fund, most shares held first (every row is from one quarter; reported value breaks ties). “% of value” is the fund’s share of this security’s tracked institutional value — not of shares outstanding.
| Fund | Shares | Reported value | % of value | Quarter |
|---|---|---|---|---|
| BlackRock, Inc. added | 7,089,344 | $107M | 18.1% | 2026-Q2 |
| GCM Grosvenor Holdings, LLC | 4,116,050 | $62M | 10.5% | 2026-Q2 |
| ECP ControlCo, LLC | 3,457,105 | $52M | 8.8% | 2026-Q2 |
| SOUTHEASTERN ASSET MANAGEMENT INC/TN/ trimmed | 2,616,797 | $39M | 6.7% | 2026-Q2 |
| DIMENSIONAL FUND ADVISORS LP added | 2,613,975 | $39M | 6.7% | 2026-Q2 |
| STATE STREET CORP added | 2,149,556 | $32M | 5.5% | 2026-Q2 |
| VANGUARD CAPITAL MANAGEMENT LLC trimmed | 2,058,869 | $31M | 5.3% | 2026-Q2 |
| AMERICAN CENTURY COMPANIES INC added | 1,435,478 | $22M | 3.7% | 2026-Q2 |
| GEODE CAPITAL MANAGEMENT, LLC added | 1,298,399 | $20M | 3.3% | 2026-Q2 |
| COOPER INVESTORS PTY LTD trimmed | 930,143 | $14M | 2.4% | 2026-Q2 |
| VANGUARD PORTFOLIO MANAGEMENT LLC added | 912,882 | $14M | 2.3% | 2026-Q2 |
| MILLENNIUM MANAGEMENT LLC trimmed | 731,426 | $11M | 1.9% | 2026-Q2 |
| CHARLES SCHWAB INVESTMENT MANAGEMENT INC trimmed | 718,217 | $11M | 1.8% | 2026-Q2 |
| Broad Run Investment Management, LLC trimmed | 658,567 | $10M | 1.7% | 2026-Q2 |
| Cerity Partners LLC added | 647,035 | $10M | 1.7% | 2026-Q2 |
| ROYCE & ASSOCIATES LP added | 643,093 | $10M | 1.6% | 2026-Q2 |
| NORTHERN TRUST CORP added | 513,525 | $8M | 1.3% | 2026-Q2 |
| BRIDGEWAY CAPITAL MANAGEMENT, LLC added | 393,553 | $6M | 1.0% | 2026-Q2 |
| MORGAN STANLEY trimmed | 333,994 | $5M | 0.9% | 2026-Q2 |
| VANGUARD FIDUCIARY TRUST CO trimmed | 303,280 | $5M | 0.8% | 2026-Q2 |
| GAMCO INVESTORS, INC. ET AL | 270,000 | $4M | 0.7% | 2026-Q2 |
| Bank of New York Mellon Corp added | 267,990 | $4M | 0.7% | 2026-Q2 |
| Empowered Funds, LLC added | 263,553 | $4M | 0.7% | 2026-Q2 |
| GOLDMAN SACHS GROUP INC trimmed | 256,018 | $4M | 0.7% | 2026-Q2 |
| PRINCIPAL FINANCIAL GROUP INC added | 222,010 | $3M | 0.6% | 2026-Q2 |
| Invesco Ltd. trimmed | 204,115 | $3M | 0.5% | 2026-Q2 |
| CITIGROUP INC added | 179,254 | $3M | 0.5% | 2026-Q2 |
| Nuveen, LLC added | 175,255 | $3M | 0.4% | 2026-Q2 |
| GABELLI FUNDS LLC trimmed | 173,330 | $3M | 0.4% | 2026-Q2 |
| FRANKLIN RESOURCES INC added | 172,876 | $3M | 0.4% | 2026-Q2 |
| Whitebark Investors LP trimmed | 167,153 | $3M | 0.4% | 2026-Q2 |
| Public Sector Pension Investment Board trimmed | 157,729 | $2M | 0.4% | 2026-Q2 |
| UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC added | 145,208 | $2M | 0.4% | 2026-Q2 |
| RHUMBLINE ADVISERS trimmed | 120,725 | $2M | 0.3% | 2026-Q2 |
| RWA WEALTH PARTNERS, LLC added | 119,474 | $2M | 0.3% | 2026-Q2 |
| Legal & General Group Plc trimmed | 102,015 | $2M | 0.3% | 2026-Q2 |
| Quantinno Capital Management LP added | 101,866 | $2M | 0.3% | 2026-Q2 |
| UBS Group AG trimmed | 99,160 | $1M | 0.3% | 2026-Q2 |
| Swiss National Bank trimmed | 88,772 | $1M | 0.2% | 2026-Q2 |
| PRICE T ROWE ASSOCIATES INC /MD/ added | 85,774 | $1M | 0.2% | 2026-Q2 |
| FMR LLC added | 75,442 | $1M | 0.2% | 2026-Q2 |
| CITADEL ADVISORS LLC trimmed | 75,276 | $1M | 0.2% | 2026-Q2 |
| AQR CAPITAL MANAGEMENT LLC added | 73,134 | $1M | 0.2% | 2026-Q2 |
| BANK OF AMERICA CORP /DE/ trimmed | 69,616 | $1M | 0.2% | 2026-Q2 |
| AMERIPRISE FINANCIAL INC trimmed | 69,275 | $1M | 0.2% | 2026-Q2 |
| JPMORGAN CHASE & CO added | 63,911 | $998K | 0.2% | 2026-Q2 |
| Trexquant Investment LP new | 62,085 | $936K | 0.2% | 2026-Q2 |
| ALLIANCEBERNSTEIN L.P. added | 61,086 | $942K | 0.2% | 2026-Q2 |
| Jump Financial, LLC added | 57,800 | $872K | 0.1% | 2026-Q2 |
| Creative Planning added | 56,811 | $857K | 0.1% | 2026-Q2 |
| Campbell & CO Investment Adviser LLC trimmed | 55,346 | $835K | 0.1% | 2026-Q2 |
| CALIFORNIA STATE TEACHERS RETIREMENT SYSTEM added | 54,783 | $826K | 0.1% | 2026-Q2 |
| DEUTSCHE BANK AG\ added | 53,588 | $808K | 0.1% | 2026-Q2 |
| VICTORY CAPITAL MANAGEMENT INC new | 52,869 | $797K | 0.1% | 2026-Q2 |
| FIRST TRUST ADVISORS LP added | 50,048 | $755K | 0.1% | 2026-Q2 |
| Pathstone Holdings, LLC added | 49,056 | $740K | 0.1% | 2026-Q2 |
| PRUDENTIAL FINANCIAL INC added | 48,699 | $734K | 0.1% | 2026-Q2 |
| RENAISSANCE TECHNOLOGIES LLC trimmed | 48,000 | $724K | 0.1% | 2026-Q2 |
| Susquehanna Portfolio Strategies, LLC added | 45,115 | $680K | 0.1% | 2026-Q2 |
| WELLS FARGO & COMPANY/MN added | 43,192 | $651K | 0.1% | 2026-Q2 |
| Visionary Wealth Advisors added | 42,555 | $642K | 0.1% | 2026-Q2 |
| ACORN FINANCIAL ADVISORY SERVICES INC /ADV | 41,686 | $629K | 0.1% | 2026-Q2 |
| LPL Financial LLC added | 34,479 | $520K | 0.1% | 2026-Q2 |
| FULLER & THALER ASSET MANAGEMENT, INC. trimmed | 34,460 | $520K | 0.1% | 2026-Q2 |
| TWO SIGMA INVESTMENTS, LP trimmed | 33,922 | $512K | 0.1% | 2026-Q2 |
| VANGUARD ASSET MANAGEMENT, Ltd | 33,388 | $503K | 0.1% | 2026-Q2 |
| Quantbot Technologies LP added | 33,243 | $501K | 0.1% | 2026-Q2 |
| BEACON INVESTMENT ADVISORS LLC trimmed | 31,806 | $480K | 0.1% | 2026-Q2 |
| Trek Financial, LLC | 29,896 | $451K | 0.1% | 2026-Q2 |
| MetLife Investment Management, LLC added | 29,316 | $442K | 0.1% | 2026-Q2 |
| Cornerstone Advisory, LLC trimmed | 28,146 | $424K | 0.1% | 2026-Q2 |
| Russell Investments Group, Ltd. added | 27,874 | $420K | 0.1% | 2026-Q2 |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP added | 26,737 | $403K | 0.1% | 2026-Q2 |
| Squarepoint Ops LLC trimmed | 24,258 | $366K | 0.1% | 2026-Q2 |
| Graves Light Lenhart Wealth, Inc. added | 24,140 | $364K | 0.1% | 2026-Q2 |
| Illinois Municipal Retirement Fund added | 23,907 | $361K | 0.1% | 2026-Q2 |
| Numerai GP LLC added | 23,650 | $357K | 0.1% | 2026-Q2 |
| Capital Investment Advisory Services, LLC trimmed | 23,500 | $354K | 0.1% | 2026-Q2 |
| Zurcher Kantonalbank (Zurich Cantonalbank) added | 23,415 | $353K | 0.1% | 2026-Q2 |
| MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. trimmed | 23,209 | $350K | 0.1% | 2026-Q2 |
| Schonfeld Strategic Advisors LLC new | 22,617 | $341K | 0.1% | 2026-Q2 |
| CDC Financial, Inc. added | 22,300 | $336K | 0.1% | 2026-Q2 |
| BALYASNY ASSET MANAGEMENT L.P. added | 21,558 | $325K | 0.1% | 2026-Q2 |
| Jupiter Topco LLC new | 20,897 | $315K | 0.1% | 2026-Q2 |
| Connor, Clark & Lunn Investment Management Ltd. added | 20,215 | $305K | 0.1% | 2026-Q2 |
| Louisiana State Employees Retirement System | 20,200 | $311K | 0.1% | 2026-Q2 |
| Kestra Advisory Services, LLC added | 19,933 | $301K | 0.1% | 2026-Q2 |
| MIRABELLA FINANCIAL SERVICES LLP new | 19,485 | $294K | 0.0% | 2026-Q2 |
| Vanguard Global Advisers, LLC | 16,703 | $252K | 0.0% | 2026-Q2 |
| NEW YORK STATE COMMON RETIREMENT FUND added | 16,310 | $246K | 0.0% | 2026-Q2 |
| Jain Global LLC trimmed | 14,900 | $225K | 0.0% | 2026-Q2 |
| BNP PARIBAS FINANCIAL MARKETS added | 14,728 | $222K | 0.0% | 2026-Q2 |
| Police & Firemen's Retirement System of New Jersey | 14,045 | $212K | 0.0% | 2026-Q2 |
| STATE BOARD OF ADMINISTRATION OF FLORIDA RETIREMENT SYSTEM | 13,870 | $209K | 0.0% | 2026-Q2 |
| MANUFACTURERS LIFE INSURANCE COMPANY, THE trimmed | 13,634 | $206K | 0.0% | 2026-Q2 |
| Wealthcare Advisory Partners LLC new | 13,304 | $201K | 0.0% | 2026-Q2 |
| Inscription Capital, LLC | 12,788 | $193K | 0.0% | 2026-Q2 |
| YOUSIF CAPITAL MANAGEMENT, LLC trimmed | 12,280 | $185K | 0.0% | 2026-Q2 |
| ARIZONA STATE RETIREMENT SYSTEM trimmed | 12,207 | $184K | 0.0% | 2026-Q2 |
| INCEPTIONR LLC trimmed | 11,787 | $178K | 0.0% | 2026-Q2 |
Ownership over time
Tracked institutional holder count and total shares held by filing quarter (independent scales). The curated-era tail and any mid-ingest latest quarter are handled honestly — a partial quarter is not drawn as a collapse.
Reading this table
Funds hold the same stock for different reasons — an index fund “holds” almost everything, an active manager sizes a name to a mandate and a benchmark, and each fund entered at its own price and time. Because 13F is filed up to 45 days after quarter-end, every row is a backward-looking snapshot; a manager may have traded since. Share-class siblings (a company’s A and C shares) are rolled up to one line so a dual-class name is never double-counted. Compare like-for-like. A large holder is not an endorsement, and a fund exiting is not a warning — this is a starting question, not a verdict.
About 13F filings
A Form 13F is a quarterly disclosure that institutional investment managers with over $100 million in US-listed equities must file with the SEC. In plain English: it is a snapshot of the long stock positions a fund held at the end of a quarter. It covers long US-listed equities only — not short positions, options, cash, or private holdings — and the funds shown are the large sample we track, not the complete 13F universe.