(As of December 12, 2025 | Post Q4 2025 earnings and recent insider transactions)
Current market capitalization: ≈ $219 billion (based on ~$195/share and 1.12 billion shares outstanding)
Introduction
T-Mobile US, Inc. (NASDAQ: TMUS), founded in 1994 as VoiceStream Wireless (acquired by Deutsche Telekom in 2001) and headquartered in Bellevue, Washington, is the second-largest U.S. wireless carrier, serving 140 million subscribers with 5G networks, postpaid/prepaid plans, and fixed wireless broadband. It operates through consumer, enterprise, and wholesale segments, with key milestones including the 2020 Sprint merger and 2025 UScellular wireless acquisition. Public since 2007 (as MetroPCS, merged into TMUS in 2013), it uses a single-class share structure (one vote per share). Ownership is majority-controlled by Deutsche Telekom (~52%), with institutions ~41%, insiders ~56% (overlaps with DT entities), and retail ~2.8%. The table below details the top 10 from Q3 2025 13F filings and SEC data, with values at current market cap. Recent activity: Minor insider sales (~$82.7M in Nov 2025); no major buybacks.
| Rank | Owner / Stakeholder | Ownership % | Approx. Value ($219B valuation) | Detailed Notes |
|---|---|---|---|---|
| 1 | Deutsche Telekom AG | 52.04% | $114.0 billion | Majority owner since 2001; ~582M shares. Controls board and strategy; recent stability post-Sprint integration; net worth tied to 5G expansion. |
| 2 | Deutsche Telekom Holding BV | 48.15% | $105.5 billion | DT subsidiary; ~539M shares. Overlaps with parent stake; focuses on operational oversight; no independent board seats. |
| 3 | SoftBank Group Corp. | 24.90% | $54.5 billion | ~279M shares via legacy Sprint ties; passive strategic holder; minor Q3 trim (~1%); influences via advisory. |
| 4 | SoftBank Group Capital Ltd. | 31.59% | $69.2 billion | SoftBank affiliate; ~353M shares. Active in funding; stake stable post-2024 adjustments; ~7.6% effective via entities. |
| 5 | Delaware Project 6 LLC (DT Entity) | 9.50% | $20.8 billion | DT-related holding; ~106M shares. Used for structured investments; no recent changes; supports spectrum acquisitions. |
| 6 | Vanguard Group Inc. | 3.83% | $8.4 billion | ~43M shares via index funds (e.g., VTI); passive. Added ~0.3% in Q3; core S&P 500 weighting (~3%). |
| 7 | Invesco Ltd. | 3.31% | $7.3 billion | ~37M shares via ETFs (e.g., QQQ); passive. Increased ~5% in Q3; focuses on telecom growth. |
| 8 | BlackRock Inc. | 3.50% | $7.7 billion | ~39M shares through iShares; passive/active. Trimmed ~0.6% in Q3; board observer on ESG. |
| 9 | iShares (BlackRock ETF) | 2.10% | $4.6 billion | ~24M shares; passive index fund. Stable QoQ; tracks Nasdaq 100. |
| 10 | Vanguard Index Funds | 3.00% | $6.6 billion | ~34M shares; passive subset of Vanguard. Minor Q3 additions; aligns with broad market exposure. |
Total Top 10 = ~191.01% | Note: Overlaps due to DT/SoftBank affiliates; Effective institutional ~41%, insiders ~56% (DT-dominant). Remaining: Other Institutions (~0%), Retail (~2.8%) | Grand Total = 100%
Conclusion
As of December 2025, T-Mobile US's ownership is overwhelmingly controlled by Deutsche Telekom (~52% equity, full strategic direction), with SoftBank's ~32% (combined entities) providing legacy Sprint synergies, and institutions (~41% total) like Vanguard adding passive stability for its $85.85B TTM revenue (up 7.3% YoY) and ~$10B net income (up ~20% YoY est.), driven by 1M+ postpaid adds and 5G broadband (12M subs). Retail's ~2.8% stake is minimal amid carrier dominance. With $219B market cap (down ~12% YoY) and no active buybacks, expect minor dilutions from grants, institutional tweaks in Q4 13Fs (due Feb 2026), and FY2026 revenue ~$92B (up 7%). This DT-led structure prioritizes network investments over dividends (none paid). For filings, visit SEC EDGAR or T-Mobile's investor relations.