SBA Communications Corporation
MX ˙ BMV ˙ US78410G1040
SecurityMX:SBAC / SBA Communications Corporation
InstitutionQuest Partners LLC
Latest Disclosed Ownership14,984 shares
Latest Disclosed Value $ 2,898,355
Quest Partners LLC reports 45.43% increase in ownership of SBAC / SBA Communications Corporation

On February 9, 2026 - Quest Partners LLC filed a 13F-HR form disclosing ownership of 14,984 shares of SBA Communications Corporation (MX:SBAC) valued at $2,898,355 USD as of December 31, 2025. The entity filed a previous 13F-HR on November 3, 2025 disclosing 10,303 shares of SBA Communications Corporation. This represents a change in shares of 45.43% 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)
2026-02-09 2025-12-31 13F SBA COMMUNICATIONS CORP CL A 78410G104 14,984 4,681 45.43 2,898 45.48 0.1622
2025-11-03 2025-09-30 13F SBA COMMUNICATIONS CORP CL A 78410G104 10,303 4,730 84.87 1,992 52.29 0.1302
2025-07-31 2025-06-30 13F SBA COMMUNICATIONS CORP CL A 78410G104 5,573 488 9.60 1,309 16.99 0.1285
2025-05-14 2025-03-31 13F SBA COMMUNICATIONS CORP CL A 78410G104 5,085 -1,113 -17.96 1,119 -11.48 0.1216
2025-02-07 2024-12-31 13F SBA COMMUNICATIONS CORP CL A 78410G104 6,198 2,766 80.59 1,263 52.91 0.1678
2024-11-07 2024-09-30 13F SBA COMMUNICATIONS CORP CL A 78410G104 3,432 -3,963 -53.59 826 -43.07 0.0735
2024-08-06 2024-06-30 13F SBA COMMUNICATIONS CORP CL A 78410G104 7,395 2,561 52.98 1,452 38.59 0.1970
2024-05-09 2024-03-31 13F SBA COMMUNICATIONS CORP CL A 78410G104 4,834 4,808 18,492.31 1,048 17,350.00 0.1821
2024-02-09 2023-12-31 13F SBA COMMUNICATIONS CORP CL A 78410G104 26 26 7 0.0014
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.