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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
RDFA
751
Ritter Daniher Financial Advisory
Ohio
– -$5.8K -30 Closed
JSAM
752
J. Safra Asset Management
New York
– -$3.09K -16 Closed
S
753
Sachetta
Massachusetts
– -$2.9K -15 Closed
AFG
754
Albion Financial Group
Utah
– -$1.16K -6 Closed
SIP
755
Sellwood Investment Partners
Oregon
– -$967 -5 Closed
TIM
756
Tortoise Investment Management
New York
– -$967 -5 Closed
HWP
757
Highline Wealth Partners
California
– -$773 -4 Closed
CAC
758
Core Alternative Capital
Georgia
– -$580 -3 Closed
GWSG
759
GPS Wealth Strategies Group
Colorado
– -$387 -2 Closed
OAJ
760
Ogorek Anthony Joseph
New York
– -$193 -1 Closed
PAM
761
Palisade Asset Management
Minnesota
– -$194 -1 Closed
PWMG
762
Private Wealth Management Group
New Jersey
– -$194 -1 Closed
TFM
763
TFC Financial Management
Massachusetts
– -$194 -1 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.