Why One Investor Bought $67.5 Million in Array Digital Infrastructure Stock

• New York City-based Newtyn Management added 1.35 million shares of Array Digital Infrastructure, an estimated $67.5 million trade based on quarterly average pricing.

• The position change represents 8.3% of 13F reportable assets under management.

• The move marks a new—and major—holding for Newtyn, with Array Digital Infrastructure now being the fund’s fourth-largest holding.

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On November 14, New York City-based Newtyn Management disclosed a new $67.5 million position in Array Digital Infrastructure, marking a significant addition to its portfolio during the third quarter.

According to a filing submitted to the U.S. Securities and Exchange Commission on November 14, Newtyn Management reported a new position in Array Digital Infrastructure (NYSE: AD). The fund acquired 1.35 million shares valued at $67.5 million as of September 30, representing about 8.3% of overall reported assets and making AD its fourth-largest holding by disclosed market value.

Top holdings after the filing:

• NASDAQ:INDV: $101.3 million (12.4% of AUM)

• NASDAQ:QDEL: $79.5 million (9.7% of AUM)

• NASDAQ:TBPH: $72.3 million (8.8% of AUM)

• NYSE:AD: $67.5 million (8.3% of AUM)

• NYSE:CNNE: $62.5 million (7.6% of AUM)

As of Friday, shares of Array Digital Infrastructure were priced at $50.14, down 22% in the past year and well underperforming the S&P 500, which is up 13% in the same period.

• Array Digital Infrastructure offers wireless telecommunications services, including voice, messaging, data, and a range of wireless devices and accessories.

• The company generates revenue through direct sales, installment contracts, tower rentals, and wholesale distribution to agents and resellers.

• It serves consumer, business, and government customers across the United States through multiple sales channels.

Array Digital Infrastructure is a leading wireless telecommunications provider in the U.S., operating at a national scale with a diversified service and product portfolio. The company leverages multiple sales channels and recurring service revenues to maintain a broad market reach and customer engagement. Its strategic focus on both direct and wholesale distribution, combined with infrastructure assets such as tower rentals, supports competitive positioning in the communications sector.

A move like this matters because it signals conviction in a business undergoing a radical transformation. Array Digital Infrastructure has shifted from a wireless operator to a pure-play tower company, and investors are still processing that transition. The stock fell nearly 30% on August 20, the day it went ex-dividend on a $23 special dividend. For a fund like Newtyn, adding a large position during a transformational period suggests it sees long-term value in Array’s post-divestiture economics.

The company’s latest earnings support that view. Third-quarter operating revenue surged to $47.1 million, up 83% from a year earlier, driven by the new long-term master lease agreement with T-Mobile, which helped lift site-rental revenue by 68%. Array also posted $108.8 million in net income from continuing operations—a sharp reversal from last year’s $95.9 million loss. Management highlighted continued spectrum monetization, with agreements totaling $178 million in expected proceeds, and a leadership transition as the company scales its standalone tower strategy.

For long-term investors, the appeal is a cleaner business model, recurring rental income, and meaningful optionality from remaining spectrum sales—though regulatory timing and tenant concentration remain real risks.

13F reportable assets: Assets that investment managers must disclose quarterly to the SEC if they exceed $100 million in U.S. securities.
Assets under management (AUM): The total market value of investments managed on behalf of clients by a fund or firm.
Dividend yield: Annual dividend payments divided by the stock price, shown as a percentage, indicating income return on investment.
Trailing twelve months (TTM): The 12-month period ending with the most recent quarterly report.
Position: The amount of a particular security or asset held by an investor or fund.
Stake: The ownership interest or share held in a company by an investor or fund.
Quarterly average pricing: The average price of a security over a specific quarter, used for valuation or reporting.
Wholesale distribution: Selling products or services in large quantities to resellers, agents, or other businesses rather than directly to consumers.
Installment contracts: Agreements allowing customers to pay for products or services over time through scheduled payments.
Tower rentals: Leasing wireless communication towers to other companies for network infrastructure use.

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Jonathan Ponciano has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends QuidelOrtho. The Motley Fool has a disclosure policy.

Why One Investor Bought $67.5 Million in Array Digital Infrastructure Stock was originally published by The Motley Fool