SBA Communications Corporation
MX ˙ BMV ˙ US78410G1040
SecurityMX:SBAC / SBA Communications Corporation
InstitutionGEM Realty Capital
Latest Disclosed Ownership199,427 shares
Latest Disclosed Value $ 34,323,381
GEM Realty Capital reports 24.53% decrease in ownership of SBAC / SBA Communications Corporation

On May 15, 2026 - GEM Realty Capital filed a 13F-HR form disclosing ownership of 199,427 shares of SBA Communications Corporation (MX:SBAC) valued at $34,323,381 USD as of March 31, 2026. The entity filed a previous 13F-HR on February 17, 2026 disclosing 264,256 shares of SBA Communications Corporation. This represents a change in shares of -24.53% 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 199,427 -64,829 -24.53 34,323 -32.85 3.3927
2026-02-17 2025-12-31 13F SBA COMMUNICATIONS CORP CL A 78410G104 264,256 253,421 2,338.91 51,115 2,341.02 4.5857
2025-11-14 2025-09-30 13F SBA COMMUNICATIONS CORP CL A 78410G104 10,835 -143,544 -92.98 2,095 -94.22 0.1961
2025-08-14 2025-06-30 13F SBA COMMUNICATIONS CORP CL A 78410G104 154,379 20,091 14.96 36,254 22.71 3.4844
2025-05-15 2025-03-31 13F SBA COMMUNICATIONS CORP CL A 78410G104 134,288 -224,520 -62.57 29,545 -59.60 3.0739
2025-02-14 2024-12-31 13F SBA COMMUNICATIONS CORP CL A 78410G104 358,808 6,092 1.73 73,125 -13.87 7.2130
2024-11-14 2024-09-30 13F SBA COMMUNICATIONS CORP CL A 78410G104 352,716 352,716 84,899 8.0361
2024-08-14 2024-06-30 13F SBA COMMUNICATIONS CORP CL A 78410G104 0 -211,540 -100.00 0 -100.00
2024-05-15 2024-03-31 13F SBA COMMUNICATIONS CORP CL A 78410G104 211,540 86,586 69.29 45,841 44.61 6.1529
2024-02-14 2023-12-31 13F SBA COMMUNICATIONS CORP CL A 78410G104 124,954 111,022 796.88 31,700 1,036.98 5.2288
2023-11-14 2023-09-30 13F SBA COMMUNICATIONS CORP CL A 78410G104 13,932 -134,123 -90.59 2,789 -91.87 0.4934
2023-08-14 2023-06-30 13F SBA COMMUNICATIONS CORP CL A 78410G104 148,055 45,041 43.72 34,313 27.59 6.1089
2023-05-15 2023-03-31 13F SBA COMMUNICATIONS CORP CL A 78410G104 103,014 100,386 3,819.86 26,894 3,553.94 5.1444
2023-02-14 2022-12-31 13F SBA COMMUNICATIONS CORP CL A 78410G104 2,628 2,628 737 0.1761
2022-08-15 2022-06-30 13F SBA COMMUNICATIONS CORP CL A 78410G104 0 -64,490 -100.00 0 -100.00
2022-05-16 2022-03-31 13F SBA COMMUNICATIONS CORP CL A 78410G104 64,490 59,090 1,094.26 22,191 956.21 5.5916
2022-02-14 2021-12-31 13F SBA COMMUNICATIONS CORP CL A 78410G104 5,400 -19,585 -78.39 2,101 -74.56 0.5078
2021-11-15 2021-09-30 13F/A-2 SBA COMMUNICATIONS CORP CL A 78410G104 24,985 -1,315 -5.00 8,260 -1.46 3.3464
2021-11-15 2021-09-30 13F/A-1 SBA COMMUNICATIONS CORP CL A 78410G104 24,985 -1,315 8,260 3.3464
2021-11-15 2021-09-30 13F SBA COMMUNICATIONS CORP CL A 78410G104 24,985 -1,315 8,260 3.3464
2021-08-16 2021-06-30 13F SBA COMMUNICATIONS CORP CL A 78410G104 26,300 26,300 8,382 5.3297
2019-08-14 2019-06-30 13F SBA COMMUNICATIONS CORP CL A 78410G104 0 -48,227 -100.00 0 -100.00
2019-05-15 2019-03-31 13F SBA COMMUNICATIONS CORP CL A 78410G104 48,227 -30,403 -38.67 9,629 -24.35 5.6493
2019-02-14 2018-12-31 13F SBA COMMUNICATIONS CORP CL A 78410G104 78,630 0 0.00 12,729 0.78 8.1054
2018-11-14 2018-09-30 13F SBA COMMUNICATIONS CORP CL A 78410G104 78,630 14,551 22.71 12,630 19.36 7.6767
2018-08-14 2018-06-30 13F SBA COMMUNICATIONS CORP CL A 78410G104 64,079 25,000 63.97 10,581 58.42 6.3406
2018-05-15 2018-03-31 13F SBA COMMUNICATIONS CORP CL A 78410G104 39,079 3,790 10.74 6,679 15.85 4.1791
2018-02-14 2017-12-31 13F SBA COMMUNICATIONS CORP CL A 78410G104 35,289 -15,699 -30.79 5,765 -21.51 3.3329
2017-11-14 2017-09-30 13F SBA COMMUNICATIONS CORP CL A 78410G104 50,988 -45,400 -47.10 7,345 -43.51 3.4975
2017-08-14 2017-06-30 13F SBA COMMUNICATIONS CORP CL A 78410G104 96,388 8,831 10.09 13,003 23.38 7.0059
2017-05-15 2017-03-31 13F SBA COMMUNICATIONS CORP CL A 78410G104 87,557 1,726 2.01 10,539 18.91 5.5130
2017-02-14 2016-12-31 13F SBA COMMUNICATIONS COM 78388J106 85,831 -90,117 -51.22 8,863 -55.09 5.4120
2016-11-14 2016-09-30 13F SBA COMMUNICATIONS COM 78388J106 175,948 50,617 40.39 19,734 45.88 4.7749
2016-08-15 2016-06-30 13F SBA COMMUNICATIONS COM 78388J106 125,331 -51,400 -29.08 13,528 -23.58 3.7769
2016-05-16 2016-03-31 13F SBA COMMUNICATIONS COM 78388J106 176,731 -400 -0.23 17,703 -4.88 4.3313
2016-02-16 2015-12-31 13F SBA COMMUNICATIONS COM 78388J106 177,131 -14,200 -7.42 18,611 -7.13 2.6262
2015-11-16 2015-09-30 13F SBA COMMUNICATIONS COM 78388J106 191,331 -289,119 -60.18 20,040 -63.72 2.3687
2015-08-14 2015-06-30 13F SBA COMMUNICATIONS COM 78388J106 480,450 179,300 59.54 55,237 56.63 5.7894
2015-05-15 2015-03-31 13F SBA COMMUNICATIONS COM 78388J106 301,150 102,600 51.67 35,265 60.36 3.8345
2015-02-17 2014-12-31 13F SBA COMMUNICATIONS COM 78388J106 198,550 198,550 -34.07 21,991 -37.64 1.6631
2014-11-14 2014-09-30 13F SBA COMMUNICATIONS COM 78388J106 0 -227,484 -100.00 0 -100.00
2014-08-14 2014-06-30 13F SBA COMMUNICATIONS COM 78388J106 227,484 -347,016 -60.40 23,272 -54.91 1.4754
2014-02-14 2013-12-31 13F SBA COMMUNICATIONS COM 78388J106 574,500 -940,500 -62.08 51,613 -57.66 2.9895
2013-11-14 2013-09-30 13F SBA COMMUNICATIONS COM 78388J106 1,515,000 -50,200 -3.21 121,897 5.07 5.5373
2013-08-14 2013-06-30 13F SBA COMMUNICATIONS COM 78388J106 1,565,200 1,565,200 116,013 4.4312
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.