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SBA Communications
SBAC

668 hedge funds and large institutions have $22.2B invested in SBA Communications in 2024 Q1 according to their latest regulatory filings, with 71 funds opening new positions, 255 increasing their positions, 259 reducing their positions, and 98 closing their positions.

New
Increased
Maintained
Reduced
Closed

79% more call options, than puts

Call options by funds: $84.6M | Put options by funds: $47.2M

2% less repeat investments, than reductions

Existing positions increased: 255 | Existing positions reduced: 259

4.24% less ownership

Funds ownership: 99.26% → 95.03% (-4.2%)

5% less funds holding

Funds holding: 702 → 668 (-34)

17% less funds holding in top 10

Funds holding in top 10: 12 → 10 (-2)

18% less capital invested

Capital invested by funds: $27.1B → $22.2B (-$4.93B)

28% less first-time investments, than exits

New positions opened: 71 | Existing positions closed: 98

Holders
668
Holders Change
-34
Holders Change %
-4.84%
% of All Funds
9.62%
Holding in Top 10
10
Holding in Top 10 Change
-2
Holding in Top 10 Change %
-16.67%
% of All Funds
0.14%
New
71
Increased
255
Reduced
259
Closed
98
Calls
$84.6M
Puts
$47.2M
Net Calls
+$37.4M
Net Calls Change
+$34.2M

Top Buyers

Rank Fund Capital Flow
1
Principal Financial Group
Principal Financial Group
Iowa
+$339M
2
JP Morgan Chase
JP Morgan Chase
New York
+$128M
3
Diamond Hill Capital Management
Diamond Hill Capital Management
Ohio
+$127M
4
BlackRock
BlackRock
New York
+$96.1M
5
Man Group
Man Group
United Kingdom
+$95.1M

Top Sellers

Rank Fund Capital Flow
1
Cohen & Steers
Cohen & Steers
New York
-$731M
2
Morgan Stanley
Morgan Stanley
New York
-$340M
3
Citadel Advisors
Citadel Advisors
Florida
-$226M
4
Invesco
Invesco
Georgia
-$161M
5
Manulife (Manufacturers Life Insurance)
Manulife (Manufacturers Life Insurance)
Ontario, Canada
-$145M
Name Holding Trade Value Shares
Change 		Change in
Stake
OP
651
ORG Partners
Indiana
$869 – – –
AP
652
Aspect Partners
Virginia
$867 – – –
FRA
653
Frank Rimerman Advisors
California
$867 – – –
S
654
Sachetta
Massachusetts
$762 – – –
TFM
655
TFC Financial Management
Massachusetts
$651 +$222 +1 +50%
GWM
656
Geneos Wealth Management
Colorado
$650 – – –
NL
657
NVWM LLC
Pennsylvania
$650 +$667 +3 New
CAM
658
ClariVest Asset Management
California
$436 – – –
BIA
659
Bell Investment Advisors
California
$434 -$1.56K -7 -78%
BGAI
660
Bruce G. Allen Investments
Colorado
$433 +$222 +1 +100%
CA
661
CoreCap Advisors
Michigan
$433 +$445 +2 New
RFG
662
RFP Financial Group
Georgia
$433 +$445 +2 New
ECM
663
Everence Capital Management
Indiana
$360 – – –
FGAM
664
Financial Gravity Asset Management
Texas
$225 – – –
CTA
665
Colonial Trust Advisors
South Carolina
$217 -$222 -1 -50%
LFG
666
Larson Financial Group
Missouri
$217 – – –
WPA
667
West Paces Advisors
Georgia
$217 – – –
GI
668
Gradient Investments
Minnesota
$45 -$1.11K -5 Closed
DWM
669
Dogwood Wealth Management
Kansas
$2 – – –
WMSA
670
Weiss Multi-Strategy Advisers
New York
– -$131M -515,100 Closed
EAM
671
Eagle Asset Management
Florida
– -$122M -479,027 Closed
Capital Research Global Investors
672
Capital Research Global Investors
California
– -$116M -456,515 Closed
Parnassus Investments
673
Parnassus Investments
California
– -$112M -440,477 Closed
WCP
674
Waterfront Capital Partners
New York
– -$55.4M -218,409 Closed
LBIM
675
Land & Buildings Investment Management
Connecticut
– -$38.4M -151,505 Closed
25 26
27
28 29

SBAC Hedge Fund Activity: Q1 2024 in Review

668 of the 6,942 institutional investors tracked by Wall St. Rank reported a position in SBA Communications (SBAC) for Q1 2024, worth a combined $22.2B — down 18% from $27.1B a quarter earlier.

Sellers outnumbered buyers: 98 funds closed out of SBAC and 71 opened new positions — a net loss of 27 holders — while 259 trimmed existing stakes and 255 added.

The largest buyer was Principal Financial Group, adding an estimated $339M. The largest seller was Cohen & Steers, cutting an estimated $731M.

  • 668 institutional investors held SBA Communications (SBAC) as of Q1 2024, down from 702 in Q4 2023.
  • Funds reported $22.2B of SBA Communications stock for Q1 2024, down 18% quarter-over-quarter.
  • 71 funds opened new SBA Communications positions in Q1 2024 and 98 closed out, a net change of -27 holders.
  • The largest SBA Communications buyer in Q1 2024 was Principal Financial Group, an estimated $339M added.
  • The largest SBA Communications seller in Q1 2024 was Cohen & Steers, an estimated $731M sold.

Based on aggregated 13F filings for Q1 2024.