SBA Communications Corporation
MX ˙ BMV ˙ US78410G1040
SecurityMX:SBAC / SBA Communications Corporation
InstitutionGeode Capital Management, Llc
Latest Disclosed Ownership3,149,533 shares
Latest Disclosed Value $ 540,210,297
Geode Capital Management, Llc reports 2.09% increase in ownership of SBAC / SBA Communications Corporation

On May 15, 2026 - Geode Capital Management, Llc filed a 13F-HR form disclosing ownership of 3,149,533 shares of SBA Communications Corporation (MX:SBAC) valued at $540,210,297 USD as of March 31, 2026. The entity filed a previous 13F-HR on February 9, 2026 disclosing 3,085,112 shares of SBA Communications Corporation. This represents a change in shares of 2.09% during the quarter.

Institutional Ownership: 13F and NPORT Filings

The Security and Class in the table below are shown exactly as filed by the investor. We do our best to track continuity of investments through acquisitions, and this will be reflected in the table as changes in names. In addition to descriptive data, performance of the investment is shown over time. To calculate quarterly performance, we first calculate cost basis of the shares purchased during the quarter, then use that to calculate gross profit. Quarterly return is Gross Profit / Starting Portfolio value.

Note that cost basis is calculated and stored in thousands, so small quarterly changes in shares frequently result in a cost basis of zero.

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Disclosed Equity Positions (from 13F/NPORT Filings)
File
Date		 Effective
Date		Form Security Class ID Avg Price
Paid (Est)		 Reported
Shares		 ΔShares ΔShares
(%)		 Reported
Value
(x1000)		 ΔValue
(%)		 Alloc
(%)		 ΔAlloc ΔAlloc (%) Cost Basis
(x1000)		 Unrealized
Gain/Loss
(x1000)
2026-05-15 2026-03-31 13F SBA COMMUNICATIONS CL A 78410G104 3,149,533 64,421 2.09 540,210 -9.16 0.0180
2026-02-09 2025-12-31 13F SBA COMMUNICATIONS CL A 78410G104 3,085,112 16,153 0.53 594,655 0.58 0.0367
2025-11-12 2025-09-30 13F SBA COMMUNICATIONS CL A 78410G104 3,068,959 34,793 1.15 591,196 -16.71 0.0377
2025-08-08 2025-06-30 13F SBA COMMUNICATIONS CL A 78410G104 3,034,166 -81,743 -2.62 709,808 3.83 0.0498
2025-05-13 2025-03-31 13F SBA COMMUNICATIONS CL A 78410G104 3,115,909 229,751 7.96 683,654 16.50 0.0537
2025-02-12 2024-12-31 13F SBA COMMUNICATIONS CL A 78410G104 2,886,158 71,023 2.52 586,827 -13.13 0.0455
2024-11-12 2024-09-30 13F SBA COMMUNICATIONS CL A 78410G104 2,815,135 5,733 0.20 675,511 22.79 0.0547
2024-08-09 2024-06-30 13F SBA COMMUNICATIONS CL A 78410G104 2,809,402 41,771 1.51 550,154 -8.06 0.0483
2024-05-13 2024-03-31 13F SBA COMMUNICATIONS CL A 78410G104 2,767,631 84,776 3.16 598,403 -11.87 0.0553
2024-02-13 2023-12-31 13F SBA COMMUNICATIONS CL A 78410G104 2,682,855 45,808 1.74 678,996 28.88 0.0710
2023-11-13 2023-09-30 13F SBA COMMUNICATIONS CL A 78410G104 2,637,047 52,842 2.04 526,838 -11.83 0.0628
2023-08-11 2023-06-30 13F SBA COMMUNICATIONS CL A 78410G104 2,584,205 52,667 2.08 597,523 -9.41 0.0702
2023-05-15 2023-03-31 13F SBA COMMUNICATIONS CL A 78410G104 2,531,538 49,794 2.01 659,594 94,942.36 0.0857
2023-02-13 2022-12-31 13F SBA COMMUNICATIONS CL A 78410G104 2,481,744 47,633 1.96 695 -99.90 0.0975
2022-11-14 2022-09-30 13F SBA COMMUNICATIONS CL A 78410G104 2,434,111 6,882 0.28 692,154 -10.76 0.1050
2022-08-12 2022-06-30 13F SBA COMMUNICATIONS CL A 78410G104 2,427,229 20,242 0.84 775,595 -6.16 0.1136
2022-05-13 2022-03-31 13F SBA COMMUNICATIONS CL A 78410G104 2,406,987 -175 -0.01 826,533 -11.54 0.1032
2022-02-11 2021-12-31 13F SBA COMMUNICATIONS CL A 78410G104 2,407,162 1,057 0.04 934,400 17.73 0.1125
2021-11-12 2021-09-30 13F SBA COMMUNICATIONS CL A 78410G104 2,406,105 59,914 2.55 793,649 6.38 0.1068
2021-08-13 2021-06-30 13F SBA COMMUNICATIONS CL A 78410G104 2,346,191 376,150 19.09 746,025 36.79 0.1028
2021-05-12 2021-03-31 13F SBA COMMUNICATIONS CL A 78410G104 1,970,041 -40,624 -2.02 545,390 -3.63 0.0834
2021-02-12 2020-12-31 13F SBA COMMUNICATIONS CL A 78410G104 2,010,665 272,425 15.67 565,950 2.45 0.0950
2020-11-13 2020-09-30 13F SBA COMMUNICATIONS CL A 78410G104 1,738,240 20,697 1.21 552,430 8.17 0.1082
2020-08-13 2020-06-30 13F SBA COMMUNICATIONS CL A 78410G104 1,717,543 -130,369 -7.05 510,708 2.56 0.1093
2020-05-14 2020-03-31 13F SBA COMMUNICATIONS CL A 78410G104 1,847,912 -29,035 -1.55 497,959 10.30 0.1298
2020-02-20 2019-12-31 13F/A-1 SBA COMMUNICATIONS CL A 78410G104 1,876,947 89,680 5.02 451,462 4.90 0.0944
2020-02-13 2019-12-31 13F SBA COMMUNICATIONS CL A 78410G104 1,876,947 89,680 451,462 57,534.8734
2019-11-12 2019-09-30 13F SBA COMMUNICATIONS CL A 78410G104 1,787,267 102,918 6.11 430,384 13.83 0.1004
2019-08-14 2019-06-30 13F SBA COMMUNICATIONS CL A 78410G104 1,684,349 95,864 6.03 378,080 19.42 0.0915
2019-05-14 2019-03-31 13F SBA COMMUNICATIONS CL A 78410G104 1,588,485 90,391 6.03 316,609 30.77 0.0820
2019-03-06 2018-12-31 13F/A-1 SBA COMMUNICATIONS CL A 78410G104 1,498,094 80,550 5.68 242,108 6.53 0.0748
2019-02-13 2018-12-31 13F SBA COMMUNICATIONS CL A 78410G104 1,498,094 80,550 242,108
2018-11-13 2018-09-30 13F SBA COMMUNICATIONS CL A 78410G104 1,417,544 42,505 3.09 227,269 0.30 0.0640
2018-08-14 2018-06-30 13F SBA COMMUNICATIONS CL A 78410G104 1,375,039 44,847 3.37 226,594 -0.10 0.0697
2018-05-15 2018-03-31 13F SBA COMMUNICATIONS CL A 78410G104 1,330,192 19,241 1.47 226,822 6.12 0.0739
2018-02-13 2017-12-31 13F SBA COMMUNICATIONS CL A 78410G104 1,310,951 26,913 2.10 213,733 15.77 0.0726
2017-11-14 2017-09-30 13F SBA COMMUNICATIONS CL A 78410G104 1,284,038 352,139 37.79 184,618 46.94 0.0681
2017-08-14 2017-06-30 13F SBA COMMUNICATIONS CL A 78410G104 931,899 -3,100 -0.33 125,645 11.68 0.0494
2017-06-21 2017-03-31 13F/A-1 SBA COMMUNICATIONS CORP COM CL A 78410G104 934,999 37,297 4.15 112,504 21.41 0.0462
2017-05-12 2017-03-31 13F SBA COMMUNICATIONS CORP COM CL A 78410G104 934,999 112,504
2017-02-14 2016-12-31 13F SBA COMMUNICATIONS CORP COM COM 78388J106 897,702 34,157 3.96 92,666 -4.28 0.0431
2016-11-10 2016-09-30 13F SBA COMMUNICATIONS CORP COM COM 78388J106 863,545 25,264 3.01 96,814 7.04 0.0488
2016-08-12 2016-06-30 13F SBA COMMUNICATIONS CORP COM COM 78388J106 838,281 -25,446 -2.95 90,444 4.59 0.0492
2016-05-13 2016-03-31 13F SBA COMMUNICATIONS CORP COM COM 78388J106 863,727 34,139 4.12 86,474 -0.73 0.0459
2016-02-12 2015-12-31 13F SBA COMMUNICATIONS CORP COM COM 78388J106 829,588 20,109 2.48 87,112 2.81 0.0496
2015-11-13 2015-09-30 13F SBA COMMUNICATIONS CORP COM COM 78388J106 809,479 -14,070 -1.71 84,733 -10.46 0.0514
2015-08-14 2015-06-30 13F SBA COMMUNICATIONS CORP COM COM 78388J106 823,549 106,278 14.82 94,627 12.73 0.0540
2015-05-14 2015-03-31 13F SBA COMMUNICATIONS CORP COM COM 78388J106 717,271 43,231 6.41 83,944 12.50 0.0480
2015-02-12 2014-12-31 13F SBA COMMUNICATIONS CORP COM COM 78388J106 674,040 16,106 2.45 74,615 2.29 0.0444
2014-11-14 2014-09-30 13F SBA COMMUNICATIONS CORP COM COM 78388J106 657,934 9,496 1.46 72,944 9.99 0.0473
2014-08-13 2014-06-30 13F SBA COMMUNICATIONS CORP COM COM 78388J106 648,438 10,048 1.57 66,318 14.23 0.0429
2014-05-14 2014-03-31 13F SBA COMMUNICATIONS CORP COM COM 78388J106 638,390 23,975 3.90 58,056 5.19 0.0389
2014-02-14 2013-12-31 13F SBA COMMUNICATIONS CORP COM COM 78388J106 614,415 79,126 14.78 55,190 28.16 0.0383
2013-11-14 2013-09-30 13F SBA COMMUNICATIONS CORP COM COM 78388J106 535,289 37,675 7.57 43,064 16.77 0.0345
2013-08-14 2013-06-30 13F SBA COMMUNICATIONS CORP COM COM 78388J106 497,614 497,614 36,879 0.0324
Legend
Shares
The total number of shares held by the institution at the end of the reporting period (the effective date). This is provided in the filing.
Value
The total value of the shares as of the effective date. This is provided in the filing.
Avg. Share Price
The weighted average share price of the shares held by the institution. We use FIFO accounting to determine this price
Class
This is the security class as indicated by the filer. There are a variety of values for this field. Common values include "EC" = equity common, "EP" - equity preferred
Allocation (%)
The percent of the institution's portfolio that this position represents. This is provided in NPORT filings. For 13F filings, we calculate it.
Change in Allocation
The change in allocation from the prior reporting period. This is calculated as current allocation - prior allocation.
Change in Allocation (%)
The percent change in allocation from the prior reporting period. This is calculated as (current allocation - prior allocation) / prior allocation.
Cost Basis
The total cost of the shares held. This is calculated as reported shares * avg. share price
Unrealized Gain/Loss
This is the market value of the position as of the effective date minus the cost basis.