SBAC
SBA Communications Corporation · Real Estate · REIT - Specialty
Momentum inputs (comparable managers):
holder breadth -10.5% ·
share flow +2.5% ·
net new positions -17.6%
— formula
Concentrated accumulation — rising shares among fewer holders
All ownership figures: tracked 13F managers only, common-stock positions, reporting period Q3 2025
| Quarter | Holders | Δ | Shares | Reported value | New | Exits |
|---|---|---|---|---|---|---|
| Q2 2026 | 157 | +2 | 77.21M | $13.63B | +7 | −6 |
| Q1 2026 | 159 | +2 | 73.64M | $12.66B | +10 | −9 |
| Q4 2025 | 156 | +1 | 87.16M | $16.84B | +3 | −1 |
| Q3 2025 | 17 | -2 | 60.66M | $11.73B | +1 | −4 |
| Q2 2025 | 17 | -1 | 48.39M | $11.36B | — | −1 |
| Q1 2025 | 15 | +1 | 20.45M | $4.50B | +1 | — |
| Q4 2024 | 14 | -1 | 18.67M | $3.80B | +1 | −2 |
| Q3 2024 | 14 | 0 | 9.95M | $2.39B | +1 | −1 |
| Q2 2024 | 14 | — | 8.74M | $1.71B | — | — |
| # | Manager | Shares | Δ shares | Value | Their weight | Held | ||
|---|---|---|---|---|---|---|---|---|
| 1 | The Vanguard Group ✦ (passive) | 18.16M | +2.3% | $3.51B | 0.1% | ▲ Add | 2 | SEC ↗ ×6 |
| 2 | BlackRock ✦ (passive) | 10.01M | +1.8% | $1.94B | 0.0% | ▲ Add | 2 | SEC ↗ ×21 |
| 3 | JPMorgan Chase ✦ | 9.92M | — | $1.92B | 0.1% | n/c | 1 | SEC ↗ ×34 |
| 4 | Dodge & Cox ✦ | 9.67M | +12.3% | $1.87B | 1.0% | ▲ Add | 5 | SEC ↗ |
| 5 | State Street Global Advisors ✦ (passive) | 4.75M | +3.0% | $918.97M | 0.0% | ▲ Add | 4 | SEC ↗ |
| 6 | Geode Capital Management ✦ (passive) | 3.07M | +1.1% | $591.20M | 0.0% | ▲ Add | 6 | SEC ↗ ×2 |
| 7 | Morgan Stanley ✦ | 1.35M | — | $261.79M | 0.0% | n/c | 1 | SEC ↗ ×19 |
| 8 | Goldman Sachs Group ✦ | 1.02M | — | $197.98M | 0.0% | n/c | 1 | SEC ↗ ×5 |
| 9 | Fidelity (FMR) ✦ | 1.02M | +46.2% | $196.45M | 0.0% | ▲ Add | 2 | SEC ↗ ×4 |
| 10 | T. Rowe Price ✦ | 386.16K | -22.8% | $74.67M | 0.0% | ▼ Trim | 6 | SEC ↗ ×3 |
| 11 | AQR Capital Management ✦ | 373.17K | -34.4% | $72.15M | 0.0% | ▼ Trim | 6 | SEC ↗ ×6 |
| 12 | Arrowstreet Capital ✦ | 306.76K | +51.4% | $59.31M | 0.0% | ▲ Add | 6 | SEC ↗ |
| 13 | Millennium Management ✦ | 298.54K | +16.5% | $57.72M | 0.0% | ▲ Add | 6 | SEC ↗ |
| 14 | Wellington Management ✦ | 127.18K | -47.8% | $24.59M | 0.0% | ▼ Trim | 6 | SEC ↗ ×3 |
| 15 | Citadel Advisors ✦ | 109.99K | -78.6% | $21.27M | 0.0% | ▼ Trim | 3 | SEC ↗ ×2 |
| 16 | Point72 Asset Management ✦ | 84.69K | New | $16.37M | 0.0% | New | 1 | SEC ↗ |
| 17 | Gotham Asset Management ✦ | 4.27K | -80.4% | $825,605 | 0.0% | ▼ Trim | 6 | SEC ↗ |
“Their weight” = the position's share of that manager's reported 13F equity value — the conviction measure. ✦ = curated manager.
New buyers
| Point72 Asset Management | $16.37M | 0.0% |
Exited
| Norges Bank | $351.08M | was 0.0% |
| D. E. Shaw & Co. | $7.94M | was 0.0% |
| Marshall Wace | $1.67M | was 0.0% |
| Two Sigma Investments | $278,520 | was 0.0% |
Full-market context: across ALL 13F filers (SEC structured data, Q1 2026): 663 holders, 98.55M shares, $16.10B reported. This is a different, older period than the tracked-universe figures above and the two are never mixed.
What else this security's tracked holders most often hold — shared-ownership counts, not fundamental relationships.
Open-market purchases (P)
No open-market insider purchases in our coverage window.
Open-market sales (S)
Director · 300 sh · $54,802
Awards, exercises and tax withholding are never counted as buys or sales here. Methodology