Stock Analysis
Data Source: SEC EDGAR 13F
Updated Hourly

Sba Communications Corp (SBAC)

661 + Investors. Track Smart Money conviction in SBAC. See who's accumulating, reducing, or initiating positions.

Current Price
-- USD
Analyst Target
-- (0 analysts)
Upside
0.00%
Net Flow Q/Q
↓ -12
Streak
1Q ▼
Buyers last Q
46%

Smart Money Signals — SBAC

Based on 667 hedge funds · latest filing: 2026 Q1 · updated quarterly

📉

Selling streak — 1 quarter in a row

last 6Q
For 1 consecutive quarter, more hedge funds reduced or closed their SBAC positions than added to them. Sustained institutional selling is a meaningful warning sign — these are professionals with deep research teams collectively deciding to exit.
🏔️

At the ownership peak (95% of max)

95% of all-time peak
667 hedge funds hold SBAC right now — the highest count in 3.0 years. When ownership is this concentrated, any bad news can trigger a chain reaction: one big fund sells, others follow. This is a classic 'crowded trade' — high popularity doesn't equal safety.
〰️

Stable — ownership unchanged year-over-year

fund count last 6Q
The number of hedge funds holding SBAC is almost the same as a year ago (-18 funds, -3% change). No significant rush to buy or sell — institutional backing is holding steady.
🟠

More sellers than buyers — 46% buying

319 buying374 selling
Last quarter: 374 funds reduced or exited vs 319 that bought or added. When more than half of active funds are selling, it's a caution flag — especially if the stock price hasn't moved down yet.
⚠️

Fewer new buyers each quarter (-8 vs last Q)

new funds entering per quarter
Funds opening this position for the first time: 98 → 96 → 107 → 99. Each quarter fewer new institutions are entering. This usually means most funds that wanted in are already in — the stock is well-known but the pool of potential new buyers is shrinking.
🔒

67% of holders stayed for 2+ years

■ 67% conviction (2yr+) ■ 17% medium ■ 16% new
444 out of 667 hedge funds have held SBAC for over 2 years without selling. Long-term investors are generally harder to shake out during market stress, creating a stable ownership base that limits the risk of sudden capitulation.
➡️

Steady discovery — ~99 new funds/quarter

109 → 98 → 96 → 107 → 99 new funds/Q
New funds entering each quarter: 98 → 96 → 107 → 99. Consistent flow of new institutional buyers without clear acceleration or slowdown.
🏛️

Veteran-anchored — 70% veterans vs 19% newcomers

■ 70% veterans ■ 10% 1-2yr ■ 19% new
Entry-cohort mix of 679 holders: 478 (70%) are 2+ year veterans, 70 entered 1–2 years ago, and 131 (19%) joined within the past year. A veteran-weighted cap table skews toward institutional memory over fresh momentum.
🏆

Elite ownership — 48% AUM from top-100 funds

48% from top-100 AUM funds
62 of 665 holders are among the 100 largest funds by AUM, controlling 48% of total institutional value in SBAC. When the biggest players dominate the cap table, it signifies deep institutional support — since mega-funds deploy the most rigorous due diligence and capital.
3.4
out of 10
Low Exit Risk
Exit risk score 3.4/10 — low institutional crowding. Ownership is below peak levels, holder base is relatively sticky, and buying momentum is positive.

Methodology note: these Smart Money cards use consecutive 13F disclosure snapshots, not trade-by-trade execution data. "Buying", "selling", "new holders", and "trimmed" refer to quarter-over-quarter changes in reported holders, aggregate shares, or disclosed position values between filings. They are useful for ownership regime analysis and crowding, but they do not imply exact trade timing on the filing date.

Institutional Sentiment Summary — SBAC

In 2026 Q1, 319 hedge funds were net buyers of SBAC (99 opened a new position, 220 added to an existing one), while 374 reduced or exited (263 trimmed, 111 sold completely) — a 46% buyer ratio, indicating roughly balanced activity. 48% of total institutional value in SBAC is held by top-100 AUM funds, reflecting elite-tier ownership quality. Net fund flow last quarter: -12 funds (more exits than new entries). Total institutional holders: 667.

Hedge Fund Ownership: SBAC

How many hedge funds hold SBAC — quarterly history vs. share price
Quarterly hedge fund ownership of SBAC vs. share price

Market Analysis: SBAC

Analyst Price Targets

Avg. Price Target
--

Analyst Recommendations

Stock Performance

Real-time

Company Profile: SBAC

-- --

Institutional ownership data sourced from SEC EDGAR Form 13F-HR filings.

Is It Too Late to Buy Sba Communications Corp (SBAC) Based on Hedge Fund 13F Filings?

Signal Freshness measures how much SBAC has moved relative to its sector benchmark (XLRE) since the 2026 Q1 13F filing. A stock that has barely outrun its sector is still a relatively fresh entry point — the fund's thesis has not yet been priced in by the broader market.

Since Quarter End March 31, 2026 · 78d ago
SBAC
+13.7%
XLRE
+10.5%

SBAC outperformed XLRE by +3.2% since March 31, 2026.

Since 13F Filing Date May 15, 2026 · 33d ago
SBAC
-1.4%
XLRE
+4.3%

Since the filing became public, SBAC outperformed XLRE by -5.7% .

Interpretation: The stock is tracking its sector benchmark closely. The signal remains fresh and the entry point is still near the fund's implied reference. Learn more →

Smart Money Signal ?
Broad Consensus, Selective Conviction

Many quality funds hold this stock, but top-tier positions remain relatively small.

45 top-rated funds 1 high-conviction
Consensus
7.2
/ 10
breadth
×
Elite
1.8
/ 10
conviction
Hedge Fund Positioning: SBAC
661 + Investors

Track Smart Money conviction in SBAC. See who's accumulating, reducing, or initiating positions.

Metric All 13F Filers (2026 Q1) Prior (2025 Q4) Change
Funds Holding 661 679 -2.65%
13F Shares 99M 104M -4.57%
Total Value $16.17B $19.94B -18.89%
New Positions 97 107 -10
Increased Positions 216 235 -19
Closed Positions 115 95 +20
Reduced Positions 259 248 +11
Total Calls 8 5 60.0%
Total Puts 5 6 -16.67%
PUT/CALL Ratio 0.62 1.2 Bullish

Statistics: SBAC

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Enterprise Value/EBITDA --
Beta (5Y Monthly) --
Short Ratio (Days to Cover) --
Short % of Float --

Financial Highlights

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Institutional Holders (2026 Q1)

661 + investors

Explore institutional interest and hedge fund ownership dynamics. Analyze portfolio weights, new positions, and conviction trends in SBAC. Verified SEC 13F-HR filings.

QUARTER:
Top 25 SBAC holders by conviction (% of portfolio weight) — 2026 Q1 · Source: SEC Form 13F
# Investor % of Portfolio Shares Mkt Value
1 Permit Capital, LLC 33.63% 575,312 $99.0M
2 Rush Island Management, LP 11.30% 978,390 $168.4M
3 Long Pond Capital, LP 6.58% 400,000 $68.8M
4 DigitalBridge Group, Inc. 6.33% 583,243 $100.4M
5 ATLAS Infrastructure Partners (UK) Ltd. 6.27% 1,034,375 $178.0M
6 GRS Advisors, LLC 3.39% 199,427 $34.3M
7 Sophron Capital Management L.P. 2.59% 51,089 $8.8M
8 Skylands Capital, LLC 2.57% 113,750 $19.6M
9 Diamond Hill Capital Management Inc 2.08% 1,934,471 $332.9M
10 Partners Group Holding AG 1.76% 138,373 $23.8M
11 Land & Buildings Investment Management, LLC 1.75% 60,094 $10.3M
12 Alpine Woods Capital Investors, LLC 1.33% 32,295 $5.6M
13 Avenir Corp 1.30% 61,747 $10.6M
14 Sora Investors LLC 1.25% 78,573 $13.5M
15 Dodge & Cox 1.14% 12,080,284 $2.08B
16 Bristol John W & Co Inc /Ny/ 1.10% 387,360 $66.7M
17 Presima Securities ULC 0.93% 9,585 $1.6M
18 Reaves W H & Co Inc 0.92% 322,464 $55.5M
19 Engineers Gate Manager LP 0.81% 376,341 $64.8M
20 Kettle Hill Capital Management, LLC 0.78% 18,164 $3.1M
21 Washington Capital Management, Inc 0.78% 5,385 $927K
22 Empyrean Capital Partners, LP 0.57% 102,000 $17.6M
23 Earnest Partners LLC 0.56% 784,102 $135.0M
24 Rockbridge Asset Management LLC 0.55% 4,763 $820K
25 Woodline Partners LP 0.50% 765,486 $131.7M
Investor Ownership
History 		% of Portfolio Prev % Rank Conviction Avg Buy Price 13F Score™ 3Y / 7Y Sell Timing Shares Mkt Value Change Change % Source Quarter Filed

Frequently Asked Questions — Sba Communications Corp (SBAC)

What does the Smart Money Trend signal show for SBAC?

Selling streak — 1 quarter in a row: For 1 consecutive quarter, more hedge funds reduced or closed their SBAC positions than added to them. Sustained institutional selling is a meaningful warning sign — these are professionals with deep research teams collectively deciding to exit.

What is the institutional breadth score for SBAC?

More sellers than buyers — 46% buying: Last quarter: 374 funds reduced or exited vs 319 that bought or added. When more than half of active funds are selling, it's a caution flag — especially if the stock price hasn't moved down yet.

What is the fund quality score for SBAC holders?

Elite ownership — 48% AUM from top-100 funds: 62 of 665 holders are among the 100 largest funds by AUM, controlling 48% of total institutional value in SBAC. When the biggest players dominate the cap table, it signifies deep institutional support — since mega-funds deploy the most rigorous due diligence and capital.

How long have hedge funds held SBAC?

67% of holders stayed for 2+ years: 444 out of 667 hedge funds have held SBAC for over 2 years without selling. Long-term investors are generally harder to shake out during market stress, creating a stable ownership base that limits the risk of sudden capitulation.

Is it too late to buy Sba Communications Corp (SBAC) following the 2026 Q1 hedge fund 13F filings?

As of today, SBAC has moved -1.4% since the 2026 Q1 13F filing date (May 15, 2026), compared to +4.3% for the XLRE sector ETF — an outperformance of -5.7%. Since the quarter end (March 31, 2026), SBAC has gained +13.7% vs +10.5% for XLRE. The stock is tracking its sector benchmark closely. The signal remains fresh and the entry point is still near the fund's implied reference.

Where does this institutional ownership data come from?

All holdings data is sourced from SEC Form 13F filings, which institutional investment managers with over $100 million in assets are required to submit quarterly. Data is parsed directly from SEC EDGAR.

Disclaimer: The information on this page is for informational purposes only and does not constitute investment advice, a recommendation, or an offer to buy or sell any security. Institutional holdings data is sourced from SEC Form 13F filings and reflects positions as of the filing date. Past performance of any fund or portfolio is not indicative of future results. 13Foresight is not a registered investment adviser. Always conduct your own due diligence before making investment decisions.

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