SBA Communications Corporation
MX ˙ BMV ˙ US78410G1040
SecurityMX:SBAC / SBA Communications Corporation
InstitutionNorthern Trust Corp
Latest Disclosed Ownership983,416 shares
Latest Disclosed Value $ 169,255,727
Northern Trust Corp reports 3.01% decrease in ownership of SBAC / SBA Communications Corporation

On May 14, 2026 - Northern Trust Corp filed a 13F-HR form disclosing ownership of 983,416 shares of SBA Communications Corporation (MX:SBAC) valued at $169,255,727 USD as of March 31, 2026. The entity filed a previous 13F-HR on February 17, 2026 disclosing 1,013,927 shares of SBA Communications Corporation. This represents a change in shares of -3.01% 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.

Upgrade to unlock premium data and export to Excel .

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)
2026-05-14 2026-03-31 13F SBA COMMUNICATIONS CL A 78410G104 983,416 -30,511 -3.01 169,256 -13.70 0.0046
2026-02-17 2025-12-31 13F SBA COMMUNICATIONS CORP CL A 78410G104 1,013,927 -39,578 -3.76 196,124 -3.72 0.0052
2025-11-14 2025-09-30 13F SBA COMMUNICATIONS CORP CL A 78410G104 1,053,505 -26,516 -2.46 203,695 -19.69 0.0261
2025-08-13 2025-06-30 13F SBA COMMUNICATIONS CORP CL A 78410G104 1,080,021 -142,258 -11.64 253,632 -5.68 0.0349
2025-05-13 2025-03-31 13F SBA COMMUNICATIONS CORP CL A 78410G104 1,222,279 13,489 1.12 268,914 9.16 0.0399
2025-02-14 2024-12-31 13F SBA COMMUNICATIONS CORP CL A 78410G104 1,208,790 145,823 13.72 246,351 -3.71 0.0349
2024-11-13 2024-09-30 13F SBA COMMUNICATIONS CORP COM 78410G104 1,062,967 -119,765 -10.13 255,856 10.20 0.0419
2024-08-14 2024-06-30 13F SBA COMMUNICATIONS CORP COM 78410G104 1,182,732 8,794 0.75 232,170 -8.74 0.0391
2024-05-14 2024-03-31 13F SBA COMMUNICATIONS CORP COM 78410G104 1,173,938 14,783 1.28 254,392 -13.49 0.0440
2024-02-13 2023-12-31 13F SBA COMMUNICATIONS CORP COM 78410G104 1,159,155 -50,437 -4.17 294,066 21.45 0.0532
2023-11-13 2023-09-30 13F SBA COMMUNICATIONS CORP COM 78410G104 1,209,592 12,450 1.04 242,124 -12.73 0.0469
2023-08-11 2023-06-30 13F SBA COMMUNICATIONS CORP COM 78410G104 1,197,142 -4,866 -0.40 277,450 -11.59 0.0533
2023-05-15 2023-03-31 13F SBA COMMUNICATIONS CORP COM 78410G104 1,202,008 13,187 1.11 313,808 -5.83 0.0622
2023-02-13 2022-12-31 13F SBA COMMUNICATIONS CORP COM 78410G104 1,188,821 -4,300 -0.36 333,238 -1.88 0.0699
2022-11-14 2022-09-30 13F SBA COMMUNICATIONS CORP COM 78410G104 1,193,121 -10,017 -0.83 339,622 -11.80 0.0776
2022-08-12 2022-06-30 13F SBA COMMUNICATIONS CORP COM 78410G104 1,203,138 -17,949 -1.47 385,064 -8.36 0.0825
2022-05-13 2022-03-31 13F SBA COMMUNICATIONS CORP COM 78410G104 1,221,087 21,929 1.83 420,176 -9.93 0.0739
2022-02-08 2021-12-31 13F SBA COMMUNICATIONS CORP CL A 78410G104 1,199,158 -18,606 -1.53 466,497 15.88 0.0764
2021-11-15 2021-09-30 13F SBA COMMUNICATIONS CORP CL A 78410G104 1,217,764 8,749 0.72 402,557 4.48 0.0713
2021-08-13 2021-06-30 13F SBA COMMUNICATIONS CORP CL A 78410G104 1,209,015 -27,570 -2.23 385,312 12.27 0.0679
2021-05-12 2021-03-31 13F SBA COMMUNICATIONS CORP CL A 78410G104 1,236,585 -26,153 -2.07 343,214 -3.66 0.0638
2021-02-11 2020-12-31 13F SBA COMMUNICATIONS CORP CL A 78410G104 1,262,738 -54,707 -4.15 356,257 -15.09 0.0694
2020-11-16 2020-09-30 13F SBA COMMUNICATIONS CORP CL A 78410G104 1,317,445 8,433 0.64 419,580 7.59 0.0920
2020-08-14 2020-06-30 13F SBA COMMUNICATIONS CORP COM 78410G104 1,309,012 -14,375 -1.09 389,980 9.15 0.0924
2020-05-14 2020-03-31 13F SBA COMMUNICATIONS CORP CL A 78410G104 1,323,387 12,944 0.99 357,275 13.13 0.1026
2020-02-14 2019-12-31 13F SBA COMMUNICATIONS CORP CL A 78410G104 1,310,443 33,646 2.64 315,804 2.57 0.0707
2019-11-13 2019-09-30 13F SBA COMMUNICATIONS CORP COM 78410G104 1,276,797 1,888 0.15 307,899 7.41 0.0737
2019-08-13 2019-06-30 13F SBA COMMUNICATIONS CORP CL A 78410G104 1,274,909 35,929 2.90 286,650 15.88 0.0680
2019-05-13 2019-03-31 13F SBA COMMUNICATIONS CORP CL A 78410G104 1,238,980 11,230 0.91 247,376 24.46 0.0611
2019-02-12 2018-12-31 13F SBA COMMUNICATIONS CORP CL A 78410G104 1,227,750 17,603 1.45 198,760 2.25 0.0557
2018-11-14 2018-09-30 13F SBA COMMUNICATIONS CORP CL A 78410G104 1,210,147 -23,150 -1.88 194,386 -4.55 0.0476
2018-09-18 2018-06-30 13F/A-1 SBA COMMUNICATIONS CORP CL A 78410G104 1,233,297 -33,167 -2.62 203,642 -5.92 0.0517
2018-08-14 2018-06-30 13F SBA COMMUNICATIONS CORP CL A 78410G104 1,241,429 -25,035 204,985
2018-05-09 2018-03-31 13F SBA COMMUNICATIONS CORP CL A 78410G104 1,266,464 -51,392 -3.90 216,464 0.55 0.0563
2018-02-14 2017-12-31 13F SBA COMMUNICATIONS CORP CL A 78410G104 1,317,856 -49,642 -3.63 215,285 9.29 0.0545
2017-11-13 2017-09-30 13F SBA COMMUNICATIONS CORP CL A 78410G104 1,367,498 625,385 84.27 196,989 96.77 0.0513
2017-08-11 2017-06-30 13F SBA COMMUNICATIONS CORP COM 78410G104 742,113 -13,522 -1.79 100,111 10.07 0.0280
2017-05-12 2017-03-31 13F SBA COMMUNICATIONS CORP COM 78410G104 755,635 186,127 32.68 90,955 54.67 0.0262
2017-02-13 2016-12-31 13F SBA COMMUNICATIONS COM 78388J106 569,508 -401,219 -41.33 58,807 -45.99 0.0180
2016-11-09 2016-09-30 13F SBA COMMUNICATIONS COM 78388J106 970,727 59,846 6.57 108,877 10.74 0.0339
2016-08-12 2016-06-30 13F SBA COMMUNICATIONS COM 78388J106 910,881 28,215 3.20 98,320 9.97 0.0319
2016-08-19 2016-03-31 13F/A-1 SBA COMMUNICATIONS COM 78388J106 882,666 11,549 1.33 89,406 -2.32 0.0297
2016-05-13 2016-03-31 13F Sba Communications C COMM 78388J106 882,659 88,416
2016-02-12 2015-12-31 13F Sba Communications C COMM 78388J106 871,117 -164,000 -15.84 91,527 -15.58 0.0303
2015-11-12 2015-09-30 13F SBA COMMUNICATIONS COM 78388J106 1,035,117 1,035,117 0.00 108,418 0.0362
2015-08-13 2015-06-30 13F Sba Communications C COMM 78388J106 0 -1,075,319 -100.00 0 -100.00
2015-05-14 2015-03-31 13F Sba Communications C COMM 78388J106 1,075,319 -29,551 -2.67 125,920 2.90 0.0379
2015-02-12 2014-12-31 13F Sba Communications C COM 78388J106 1,104,870 7,199 0.66 122,375 0.53 0.0369
2014-11-13 2014-09-30 13F Sba Communications C COMM 78388J106 1,097,671 181,391 19.80 121,732 29.87 0.0382
2014-08-14 2014-06-30 13F SBA COMMUNICATIONS com 78388J106 916,280 -308,334 -25.18 93,736 -15.85 0.0292
2014-05-14 2014-03-31 13F SBA COMMUNICATIONS COMM 78388J106 1,224,614 260,577 27.03 111,391 28.61 0.0350
2014-02-21 2013-12-31 13F/A-1 SBA COMMUNICATIONS COM 78388J106 964,037 64,712 7.20 86,610 19.69 0.0278
2014-02-12 2013-12-31 13F SBA COMMUNICATIONS COM 78388J106 964,037 86,610
2013-11-13 2013-09-30 13F SBA COMMUNICATIONS COM 78388J106 899,325 -28,763 -3.10 72,360 5.19 0.0255
2013-08-09 2013-06-30 13F SBA COMMUNICATIONS COM 78388J106 928,088 928,088 68,789 0.0249
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.