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SBA Communications
SBAC

377 hedge funds and large institutions have $14B invested in SBA Communications in 2014 Q2 according to their latest regulatory filings, with 36 funds opening new positions, 135 increasing their positions, 158 reducing their positions, and 34 closing their positions.

New
Increased
Maintained
Reduced
Closed

296% more call options, than puts

Call options by funds: $40.6M | Put options by funds: $10.2M

13% more capital invested

Capital invested by funds: $12.4B → $14B (+$1.6B)

6% more funds holding in top 10

Funds holding in top 10: 16 → 17 (+1)

6% more first-time investments, than exits

New positions opened: 36 | Existing positions closed: 34

1% more funds holding

Funds holding: 375 → 377 (+2)

15% less repeat investments, than reductions

Existing positions increased: 135 | Existing positions reduced: 158

Holders
377
Holders Change
+2
Holders Change %
+0.53%
% of All Funds
10.84%
Holding in Top 10
17
Holding in Top 10 Change
+1
Holding in Top 10 Change %
+6.25%
% of All Funds
0.49%
New
36
Increased
135
Reduced
158
Closed
34
Calls
$40.6M
Puts
$10.2M
Net Calls
+$30.3M
Net Calls Change
-$29.8M

Top Buyers

1
Citigroup
Citigroup
New York
+$359M
2
Deutsche Bank
Deutsche Bank
Germany
+$175M
3
Norges Bank
Norges Bank
Norway
+$104M
4
JP Morgan Chase
JP Morgan Chase
New York
+$92M
5
Renaissance Technologies
Renaissance Technologies
New York
+$75.4M

Top Sellers

1
Goldman Sachs
Goldman Sachs
New York
-$211M
2
T. Rowe Price Associates
T. Rowe Price Associates
Maryland
-$203M
3
CWAM
Columbia Wanger Asset Management
Illinois
-$119M
4
Macquarie Group
Macquarie Group
Australia
-$105M
5
Fidelity Investments
Fidelity Investments
Massachusetts
-$103M
Name Holding Trade Value Shares
Change 		Change in
Stake
Canada Pension Plan Investment Board
26
Canada Pension Plan Investment Board
Ontario, Canada
$144M +$1.1M +11,500 +0.8%
TCIM
27
TIAA CREF Investment Management
New York
$135M -$18.3M -191,074 -13%
EARNEST Partners
28
EARNEST Partners
Georgia
$123M -$2.33M -24,258 -2%
ACM
29
AKRE Capital Management
Virginia
$123M +$21.3M +222,400 +23%
JSP
30
Jackson Square Partners
California
$122M +$114M +1,192,252 New
Principal Financial Group
31
Principal Financial Group
Iowa
$121M +$15.2M +158,509 +16%
Norges Bank
32
Norges Bank
Norway
$114M +$104M +1,081,585 +2,876%
JP Morgan Chase
33
JP Morgan Chase
New York
$113M +$92M +957,962 +656%
Citadel Advisors
34
Citadel Advisors
Florida
$113M -$22.9M -238,336 -18%
Macquarie Group
35
Macquarie Group
Australia
$107M -$105M -1,098,409 -51%
MAA
36
Managed Account Advisors
New Jersey
$103M +$4.02M +41,831 +4%
BG
37
BlackRock Group
United Kingdom
$95.6M +$648K +6,752 +0.7%
Neuberger Berman Group
38
Neuberger Berman Group
New York
$94.4M -$471K -4,910 -0.5%
Northern Trust
39
Northern Trust
Illinois
$93.7M -$29.6M -308,334 -25%
GA
40
Geneva Advisors
Illinois
$91.2M -$8.24M -85,815 -9%
JHIU
41
Janus Henderson Investors US
Colorado
$88.6M -$36.3M -378,579 -30%
PC
42
Permit Capital
Pennsylvania
$86.7M -$288K -3,000 -0.4%
Morgan Stanley
43
Morgan Stanley
New York
$85.9M -$8.16M -85,004 -9%
Cohen & Steers
44
Cohen & Steers
New York
$85.8M +$4.62M +48,104 +6%
NM
45
Naya Management
United Kingdom
$83.9M +$2.32M +24,210 +3%
Renaissance Technologies
46
Renaissance Technologies
New York
$83.4M +$75.4M +785,800 +2,677%
TCG
47
Tremblant Capital Group
Florida
$74.3M +$3.62M +37,677 +5%
CM
48
Corvex Management
New York
$71.6M – – –
Two Sigma Investments
49
Two Sigma Investments
New York
$69.3M +$43.7M +455,225 +205%
CCM
50
Conatus Capital Management
Connecticut
$67.9M +$63.8M +664,136 New
1
2
3 4 5

SBAC Hedge Fund Activity: Q2 2014 in Review

377 of the 3,479 institutional investors tracked by Wall St. Rank reported a position in SBA Communications (SBAC) for Q2 2014, worth a combined $14B — up 13% from $12.4B a quarter earlier.

Buyers outnumbered sellers: 36 funds opened new SBAC positions and 34 closed out — a net gain of 2 holders — while 135 added to existing stakes and 158 trimmed.

The largest buyer was Citigroup, adding an estimated $359M. The largest seller was Goldman Sachs, cutting an estimated $211M.

  • 377 institutional investors held SBA Communications (SBAC) as of Q2 2014, up from 375 in Q1 2014.
  • Funds reported $14B of SBA Communications stock for Q2 2014, up 13% quarter-over-quarter.
  • 36 funds opened new SBA Communications positions in Q2 2014 and 34 closed out, a net change of +2 holders.
  • The largest SBA Communications buyer in Q2 2014 was Citigroup, an estimated $359M added.
  • The largest SBA Communications seller in Q2 2014 was Goldman Sachs, an estimated $211M sold.

Based on aggregated 13F filings for Q2 2014.