SBA Communications
SBAC
680 hedge funds and large institutions have $19.7B invested in SBA Communications in 2025 Q3 according to their latest regulatory filings, with 99 funds opening new positions, 213 increasing their positions, 292 reducing their positions, and 118 closing their positions.
67% more funds holding in top 10
Funds holding in top 10: 6 → 10 (+4)
10% more call options, than puts
Call options by funds: $38.8M | Put options by funds: $35.4M
3.72% less ownership
Funds ownership: 98.88% → 95.16% (-3.7%)
4% less funds holding
Funds holding: 708 → 680 (-28)
16% less first-time investments, than exits
New positions opened: 99 | Existing positions closed: 118
21% less capital invested
Capital invested by funds: $24.9B → $19.7B (-$5.19B)
27% less repeat investments, than reductions
Existing positions increased: 213 | Existing positions reduced: 292
Top Buyers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
Dodge & Cox
San Francisco,
California
|
+$229M |
| 2 |
Canada Pension Plan Investment Board
Toronto Ontario,
Ontario, Canada
|
+$132M |
| 3 |
RIM
Rush Island Management
New York
|
+$126M |
| 4 |
Nordea Investment Management
Stockholm,
Sweden
|
+$101M |
| 5 |
Vanguard Group
Malvern,
Pennsylvania
|
+$87.3M |
Top Sellers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
Barrow, Hanley, Mewhinney & Strauss
Dallas,
Texas
|
-$299M |
| 2 |
Cohen & Steers
New York
|
-$273M |
| 3 |
UBS AM
Chicago,
Illinois
|
-$258M |
| 4 |
Massachusetts Financial Services
Boston,
Massachusetts
|
-$173M |
| 5 |
Victory Capital Management
San Antonio,
Texas
|
-$158M |
SBAC Hedge Fund Activity: Q3 2025 in Review
680 of the 7,639 institutional investors tracked by Wall St. Rank reported a position in SBA Communications (SBAC) for Q3 2025, worth a combined $19.7B — down 21% from $24.9B a quarter earlier.
Sellers outnumbered buyers: 118 funds closed out of SBAC and 99 opened new positions — a net loss of 19 holders — while 292 trimmed existing stakes and 213 added.
The largest buyer was Dodge & Cox, adding an estimated $229M. The largest seller was Barrow, Hanley, Mewhinney & Strauss, cutting an estimated $299M.
- 680 institutional investors held SBA Communications (SBAC) as of Q3 2025, down from 708 in Q2 2025.
- Funds reported $19.7B of SBA Communications stock for Q3 2025, down 21% quarter-over-quarter.
- 99 funds opened new SBA Communications positions in Q3 2025 and 118 closed out, a net change of -19 holders.
- The largest SBA Communications buyer in Q3 2025 was Dodge & Cox, an estimated $229M added.
- The largest SBA Communications seller in Q3 2025 was Barrow, Hanley, Mewhinney & Strauss, an estimated $299M sold.
Based on aggregated 13F filings for Q3 2025.