FORM 4
[ X ] Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).         
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES
                                                                                  
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Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934 or Section 30(h) of the Investment Company Act of 1940
                      

1. Name and Address of Reporting Person *

QCP GP Investors II LLC 		2. Issuer Name and Ticker or Trading Symbol

NTELOS HOLDINGS CORP. [ NTLS ] 		5. Relationship of Reporting Person(s) to Issuer (Check all applicable)

_____ Director                      __ X __ 10% Owner
_____ Officer (give title below)      _____ Other (specify below)
(Last)          (First)          (Middle)

1065 AVENUE OF THE AMERICAS, 34TH FLOOR 		3. Date of Earliest Transaction (MM/DD/YYYY)

5/6/2016
(Street)

NEW YORK, NY 10018
(City)        (State)        (Zip)
4. If Amendment, Date Original Filed (MM/DD/YYYY)

 
6. Individual or Joint/Group Filing (Check Applicable Line)

___ Form filed by One Reporting Person
_ X _ Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1.Title of Security
(Instr. 3) 		2. Trans. Date 2A. Deemed Execution Date, if any 3. Trans. Code
(Instr. 8) 		4. Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4 and 5) 		5. Amount of Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 3 and 4) 		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 7. Nature of Indirect Beneficial Ownership (Instr. 4)
Code V Amount (A) or (D) Price
Common Stock, par value $0.01 per share   5/6/2016     U    4180837   D $9.25   0   I   See Footnotes   (1) (2)

Table II - Derivative Securities Beneficially Owned ( e.g. , puts, calls, warrants, options, convertible securities)
1. Title of Derivate Security
(Instr. 3) 		2. Conversion or Exercise Price of Derivative Security 3. Trans. Date 3A. Deemed Execution Date, if any 4. Trans. Code
(Instr. 8) 		5. Number of Derivative Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4 and 5) 		6. Date Exercisable and Expiration Date 7. Title and Amount of Securities Underlying Derivative Security
(Instr. 3 and 4) 		8. Price of Derivative Security
(Instr. 5) 		9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4) 10. Ownership Form of Derivative Security: Direct (D) or Indirect (I) (Instr. 4) 11. Nature of Indirect Beneficial Ownership (Instr. 4)
Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares

Explanation of Responses:
( 1)  The shares of Common Stock disposed of include (i) 2,791,898 shares of Common Stock held by Quadrangle NTELOS Holdings II LP, (ii) 967,253 shares of Common Stock held by Quadrangle Capital Partners LP, (iii) 52,851 shares of Common Stock held by Quadrangle Select Partners LP and (iv) 368,835 shares of Common Stock held by Quadrangle Capital Partners-A LP. QCP GP Investors II LLC is the general partner of Quadrangle GP Investors II LP, which is the general partner of each of Quadrangle (AIV2) Capital Partners II LP, Quadrangle Select Partners II LP and Quadrangle Capital Partners II-A LP (collectively, the "QCP II Funds"). The QCP II Funds are the managing members of Quadrangle NTELOS GP LLC, which is the general partner of Quadrangle NTELOS Holdings II LP.
( 2)  Pursuant to Rule 16a-1(a)(2)(ii)(B) under the Securities Exchange Act of 1934, as amended (the "Act"), each of the Reporting Persons may be deemed to be the beneficial owner of the securities reported herein only to the extent of its pecuniary interest therein. Pursuant to Rule 16a-1(a)(4) under the Act, this filing shall not be deemed an admission that the any of the Reporting Persons is, for purposes of Section 16 of the Act or otherwise, the beneficial owner of any securities reported herein in excess of such amount.

Reporting Owners
Reporting Owner Name / Address
Relationships
Director 10% Owner Officer Other
QCP GP Investors II LLC
1065 AVENUE OF THE AMERICAS
34TH FLOOR
NEW YORK, NY 10018
X

Quadrangle GP Investors II LP
1065 AVENUE OF THE AMERICAS
34TH FLOOR
NEW YORK, NY 10018
X

QUADRANGLE CAPITAL PARTNERS II-A L P
1065 AVENUE OF THE AMERICAS
34TH FLOOR
NEW YORK, NY 10018
X

QUADRANGLE NTELOS HOLDINGS II LP
1065 AVENUE OF THE AMERICAS
34TH FLOOR
NEW YORK, NY 10018
X

QUADRANGLE NTELOS GP LLC
1065 AVENUE OF THE AMERICAS
34TH FLOOR
NEW YORK, NY 10018
X

QUADRANGLE (AIV2) CAPITAL PARTNERS II LP
1065 AVENUE OF THE AMERICAS
34TH FLOOR
NEW YORK, NY 10018
X

Quadrangle Select Partners II L P
1065 AVENUE OF THE AMERICAS
34TH FLOOR
NEW YORK, NY 10018
X


Signatures
See signatures of Reporting Persons in Exhibit 99.1 5/10/2016
** Signature of Reporting Person Date


Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4(b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB control number.
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