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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
KF
726
Krilogy Financial
Missouri
– -$236K -1,203 Closed
SL
727
Summitry LLC
California
– -$231K -1,194 Closed
JF
728
Jump Financial
Illinois
– -$227K -1,173 Closed
EFG
729
Everhart Financial Group
Ohio
– -$226K -1,170 Closed
TAM
730
Tocqueville Asset Management
New York
– -$222K -1,150 Closed
BHPW
731
Beverly Hills Private Wealth
California
– -$211K -1,091 Closed
MGP
732
M&G plc
United Kingdom
– -$205K -1,060 Closed
CI
733
Cigna Investments
Connecticut
– -$205K -1,058 Closed
LAM
734
LECAP Asset Management
United Kingdom
– -$202K -1,044 Closed
Barrow, Hanley, Mewhinney & Strauss
735
Barrow, Hanley, Mewhinney & Strauss
Texas
– -$164K -848 Closed
HNB
736
Hilltop National Bank
Wyoming
– -$156K -806 Closed
PS
737
Principal Securities
Iowa
– -$139K -720 Closed
CIAM
738
Caitong International Asset Management
Hong Kong
– -$128K -660 Closed
EAM
739
Erste Asset Management
Austria
– -$78.4K -400 Closed
SC
740
Stance Capital
Massachusetts
– -$45.4K -235 Closed
WANY
741
Wealthspire Advisors (New York)
New York
– -$37.7K -195 Closed
IBOK
742
Independence Bank of Kentucky
Kentucky
– -$24.2K -125 Closed
ABWM
743
Alpine Bank Wealth Management
Colorado
– -$14.3K -74 Closed
RA
744
Rise Advisors
New York
– -$13.6K -70 Closed
JWM
745
JPL Wealth Management
Colorado
– -$13K -67 Closed
ASN
746
Advisory Services Network
Georgia
– -$11.1K -57 Closed
BDPWM
747
Barnes Dennig Private Wealth Management
Ohio
– -$10.2K -53 Closed
MAM
748
Meeder Asset Management
Ohio
– -$9.09K -47 Closed
CCM
749
Cloud Capital Management
Washington
– -$8K -46 Closed
LFA
750
LGT Financial Advisors
Texas
– -$7.93K -41 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.