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SBA Communications
SBAC

682 hedge funds and large institutions have $20B invested in SBA Communications in 2025 Q4 according to their latest regulatory filings, with 101 funds opening new positions, 238 increasing their positions, 256 reducing their positions, and 82 closing their positions.

New
Increased
Maintained
Reduced
Closed

42% more call options, than puts

Call options by funds: $19.7M | Put options by funds: $13.9M

23% more first-time investments, than exits

New positions opened: 101 | Existing positions closed: 82

1.77% more ownership

Funds ownership: 95.16% → 96.92% (+1.8%)

1% more capital invested

Capital invested by funds: $19.7B → $20B (+$205M)

0% more funds holding

Funds holding: 679 → 682 (+3)

7% less repeat investments, than reductions

Existing positions increased: 238 | Existing positions reduced: 256

30% less funds holding in top 10

Funds holding in top 10: 10 → 7 (-3)

Holders
682
Holders Change
+3
Holders Change %
+0.44%
% of All Funds
8.29%
Holding in Top 10
7
Holding in Top 10 Change
-3
Holding in Top 10 Change %
-30%
% of All Funds
0.09%
New
101
Increased
238
Reduced
256
Closed
82
Calls
$19.7M
Puts
$13.9M
Net Calls
+$5.78M
Net Calls Change
+$2.34M

Top Buyers

1
Dodge & Cox
Dodge & Cox
California
+$450M
2
Arrowstreet Capital
Arrowstreet Capital
Massachusetts
+$152M
3
Millennium Management
Millennium Management
New York
+$99.1M
4
Two Sigma Investments
Two Sigma Investments
New York
+$54.7M
5
Citadel Advisors
Citadel Advisors
Florida
+$54.1M

Top Sellers

1
Principal Financial Group
Principal Financial Group
Iowa
-$262M
2
Victory Capital Management
Victory Capital Management
Texas
-$168M
3
JP Morgan Chase
JP Morgan Chase
New York
-$84.3M
4
RC
Rivulet Capital
New Jersey
-$69.8M
5
Deutsche Bank
Deutsche Bank
Germany
-$65.9M
Name Holding Trade Value Shares
Change 		Change in
Stake
Simplex Trading
701
Simplex Trading
Illinois
– -$1.53M -7,930 Closed
MFS
702
Mirabella Financial Services
United Kingdom
– -$1.47M -7,600 Closed
TIP
703
Torray Investment Partners
Maryland
– -$1.47M -7,594 Closed
ALMGDA
704
AG2R La Mondiale Gestion d'Actifs
France
– -$1.6M -6,795 Closed
SRL
705
Scientech Research LLC
New Jersey
– -$1.1M -5,674 Closed
SCM
706
Stevens Capital Management
Pennsylvania
– -$1.01M -5,227 Closed
HT
707
Headlands Technologies
Illinois
– -$971K -5,022 Closed
GWMR
708
GC Wealth Management RIA
Massachusetts
– -$803K -4,151 Closed
Walleye Trading
709
Walleye Trading
New York
– -$593K -3,069 Closed
APWM
710
Argonautica Private Wealth Management
Massachusetts
– -$551K -2,852 Closed
P
711
Pitcairn
Pennsylvania
– -$509K -2,632 Closed
Capstone Investment Advisors
712
Capstone Investment Advisors
New York
– -$471K -2,438 Closed
CIC
713
Cornercap Investment Counsel
Georgia
– -$468K -2,419 Closed
DTL
714
Dynamic Technology Lab
Singapore
– -$447K -2,310 Closed
SMA
715
Sage Mountain Advisors
Georgia
– -$422K -2,184 Closed
ACA
716
Aptus Capital Advisors
Alabama
– -$410K -2,121 Closed
CIM
717
Contravisory Investment Management
Massachusetts
– -$392K -2,025 Closed
MM
718
MQS Management
New York
– -$386K -1,997 Closed
TNA
719
True North Advisors
Texas
– -$339K -1,753 Closed
LCM
720
Landscape Capital Management
New Jersey
– -$317K -1,642 Closed
ACM
721
Aster Capital Management
United Arab Emirates
– -$314K -1,624 Closed
GT
722
Glenview Trust
Kentucky
– -$297K -1,534 Closed
SC
723
SummitTX Capital
Texas
– -$277K -1,434 Closed
WVP
724
Worth Venture Partners
New Jersey
– -$251K -1,300 Closed
MG
725
Mather Group
Illinois
– -$251K -1,296 Closed
27 28
29
30 31

SBAC Hedge Fund Activity: Q4 2025 in Review

682 of the 8,223 institutional investors tracked by Wall St. Rank reported a position in SBA Communications (SBAC) for Q4 2025, worth a combined $20B — up 1% from $19.7B a quarter earlier.

Buyers outnumbered sellers: 101 funds opened new SBAC positions and 82 closed out — a net gain of 19 holders — while 238 added to existing stakes and 256 trimmed.

The largest buyer was Dodge & Cox, adding an estimated $450M. The largest seller was Principal Financial Group, cutting an estimated $262M.

  • 682 institutional investors held SBA Communications (SBAC) as of Q4 2025, up from 679 in Q3 2025.
  • Funds reported $20B of SBA Communications stock for Q4 2025, up 1% quarter-over-quarter.
  • 101 funds opened new SBA Communications positions in Q4 2025 and 82 closed out, a net change of +19 holders.
  • The largest SBA Communications buyer in Q4 2025 was Dodge & Cox, an estimated $450M added.
  • The largest SBA Communications seller in Q4 2025 was Principal Financial Group, an estimated $262M sold.

Based on aggregated 13F filings for Q4 2025.