SBACNasdaqReal Estate Investment TrustsFiscal year ends December 31
SBA COMMUNICATIONS CORP
Financials through Q2 FY2026, quarter ended Jun 30, 2026Last filing: 10-Q on Aug 6, 2026
$183.09−3.97 (-2.12%)
Close on Oct 19, 2026
- Market cap
- $19.46B
- P/E (TTM)
- 19.7
- Dividend yield
- –
Ownership
Institutional holdings as of Jun 30, 2026, from 13F filings
Held by institutions
98.9%
105M of 106M shares
Institutional holders
681
89 new, 67 sold out
Net institutional buying
2M
In Q2 2026
Insider trades, 12 months
0 buys · 1 sales
Net sold $54.80K
Shares held by institutions
Holders of more than 5%
Latest Schedule 13D (active) or 13G (passive) filed by each holder
| Holder | Shares | % of class | Filing | As of |
|---|---|---|---|---|
| Vanguard Portfolio Management | 9,718,908 | 9.18% | 13G (passive) | Mar 31, 2026 |
| Dodge & Cox | 9,667,297 | 9.00% | 13G (passive) amendment | Sep 30, 2025 |
| Vanguard Capital Management | 8,036,247 | 7.59% | 13G (passive) | Mar 31, 2026 |
| BlackRock, Inc. | 10,119,014 | 9.40% | 13G (passive) amendment | Dec 31, 2024 |
Top institutional holders
13F holdings as of Jun 30, 2026
| Holder | Shares | % of SBAC | Value | Change | % of portfolio |
|---|---|---|---|---|---|
| Dodge & Cox | 12,323,254 | 11.62% | $2.17B | +242,970 | 1.14% |
| BlackRock, Inc. | 10,138,749 | 9.56% | $1.79B | +21,722 | 0.03% |
| Vanguard Portfolio Management LLC | 9,817,059 | 9.25% | $1.73B | +110,963 | 0.08% |
| Vanguard Capital Management LLC | 6,936,972 | 6.54% | $1.22B | +12,011 | 0.03% |
| State Street Corp | 5,119,264 | 4.83% | $903.35M | +157,700 | 0.03% |
| Cohen & Steers, Inc. | 3,247,729 | 3.06% | $573.10K | +114,488 | 0.91% |
| Geode Capital Management, LLC | 3,175,913 | 2.99% | $558.43M | +26,380 | 0.03% |
| JPMorgan Chase & Co | 2,707,005 | 2.55% | $485.91M | −1,206,043 | 0.03% |
| Invesco Ltd. | 1,934,968 | 1.82% | $341.44M | −29,000 | 0.03% |
| Deutsche Bank AG\ | 1,812,200 | 1.71% | $319.78M | +1,332,985 | 0.09% |
| Charles Schwab Investment Management Inc | 1,710,278 | 1.61% | $301.80M | +132,428 | 0.04% |
| Dimensional Fund Advisors LP | 1,611,278 | 1.52% | $284.34M | −1,507 | 0.05% |
| Arrowstreet Capital, Limited Partnership | 1,568,367 | 1.48% | $276.75M | −46,687 | 0.12% |
| Norges Bank | 1,483,684 | 1.40% | $261.81M | New | 0.03% |
| Legal & General Group Plc | 1,428,343 | 1.35% | $252.05M | −79,248 | 0.05% |
| Nordea Investment Management Ab | 1,299,681 | 1.23% | $228.29M | +34,218 | 0.19% |
| Diamond Hill Capital Management Inc | 1,294,155 | 1.22% | $228.37M | −640,316 | 1.83% |
| Citadel Advisors LLC | 1,292,825 | 1.22% | $228.13M | +887,381 | 0.03% |
| Morgan Stanley | 1,276,825 | 1.20% | $225.31M | +159,696 | 0.01% |
| Principal Financial Group Inc | 1,152,311 | 1.09% | $203.34M | +1,012,239 | 0.10% |
Institutional buying and selling by quarter
Positions opened, added to, reduced and closed by 13F filers
| Quarter | Holders | Shares held | % of shares | New / added | Reduced / closed | Shares bought | Shares sold |
|---|---|---|---|---|---|---|---|
| Q2 2026 | 681 | 105M | 98.9% | 89 / 258 | 241 / 67 | 12M | 10M |
| Q1 2026 | 668 | 102M | 96.6% | 95 / 217 | 266 / 103 | 27M | 10M |
| Q4 2025 | 684 | 103M | 97.5% | 103 / 237 | 256 / 82 | 10M | 14M |
| Q3 2025 | 680 | 107M | 100.0% | 99 / 216 | 289 / 118 | 14M | 13M |
| Q2 2025 | 708 | 106M | 100.0% | 100 / 293 | 226 / 74 | 9M | 11M |
| Q1 2025 | 691 | 108M | 100.0% | 106 / 260 | 246 / 67 | 10M | 8M |
| Q4 2024 | 665 | 107M | 100.0% | 90 / 260 | 243 / 95 | 15M | 16M |
| Q3 2024 | 682 | 108M | 100.0% | 95 / 252 | 252 / 49 | 21M | 9M |
| Q2 2024 | 641 | 105M | 98.8% | 64 / 249 | 261 / 81 | 10M | 14M |
| Q1 2024 | 666 | 109M | 100.0% | 70 / 257 | 257 / 100 | 14M | 14M |
| Q4 2023 | 703 | 110M | 100.0% | 131 / 252 | 238 / 53 | 14M | 7M |
| Q3 2023 | 634 | 103M | 97.1% | 60 / 255 | 245 / 90 | 12M | 10M |
Top mutual fund and ETF holders
Latest monthly portfolio reports (Form N-PORT)
| Fund | Shares | % of SBAC | Value | % of fund | As of |
|---|---|---|---|---|---|
| Dodge & Cox Stock Fund | 7,757,000 | 7.31% | $1.37B | 1.16% | Jun 30, 2026 |
| Vanguard Real Estate Index Fund | 4,024,259 | 3.79% | $728.31M | 1.00% | Jul 31, 2026 |
| Vanguard Total Stock Market Index Fund | 3,367,881 | 3.17% | $594.30M | 0.03% | Jun 30, 2026 |
| Vanguard 500 Index Fund | 2,748,506 | 2.59% | $485.00M | 0.03% | Jun 30, 2026 |
| Vanguard Mid-Cap Index Fund | 2,298,027 | 2.17% | $405.51M | 0.18% | Jun 30, 2026 |
| iShares Core S&P 500 ETF | 1,459,398 | 1.38% | $257.53M | 0.03% | Jun 30, 2026 |
| Vanguard Growth Index Fund | 1,450,687 | 1.37% | $255.99M | 0.07% | Jun 30, 2026 |
| Fidelity 500 Index Fund | 1,363,487 | 1.29% | $277.01M | 0.03% | May 31, 2026 |
| Real Estate Securities Fund | 1,171,241 | 1.10% | $211.97M | 3.02% | Jul 31, 2026 |
| Invesco S&P 500 Equal Weight ETF | 898,825 | 0.85% | $162.67M | 0.17% | Jul 31, 2026 |
| State Street(R) Real Estate Select Sector SPDR(R) ETF | 890,003 | 0.84% | $157.05M | 1.94% | Jun 30, 2026 |
| Vanguard Mid-Cap Growth Index Fund | 812,542 | 0.77% | $143.38M | 0.41% | Jun 30, 2026 |
| Cohen & Steers Real Estate Securities Fund | 763,107 | 0.72% | $134.66M | 1.41% | Jun 30, 2026 |
| Dodge & Cox Global Stock Fund | 757,400 | 0.71% | $133.65M | 1.03% | Jun 30, 2026 |
| Schwab U.S. REIT ETF | 753,739 | 0.71% | $153.13M | 1.53% | May 31, 2026 |
Officers, directors and major owners
People who filed Forms 3, 4 or 5 in the last two years
| Name | Role | Shares owned | % of shares | Latest filing |
|---|---|---|---|---|
| Brendan Thomas Cavanagh | PRESIDENT AND CEO, Director | 67,072 | 0.06% | Mar 9, 2026 |
| Donald Day | EVP - SITE LEASING | 10,163 | 0.01% | Aug 4, 2026 |
| Saul Kredi | VP & Chief Accounting Officer | 6,139 | 0.01% | Mar 9, 2026 |
| Mark R. Ciarfella | EVP - OPERATIONS | 38,059 | 0.04% | Mar 9, 2026 |
| Joshua Koenig | EXECUTIVE VP/GENERAL COUNSEL | 10,726 | 0.01% | Mar 9, 2026 |
| Richard M. Cane | EVP; PRES. - INTERNATIONAL | 7,305 | 0.01% | Mar 9, 2026 |
| Marc Montagner | EVP - CHIEF FINANCIAL OFFICER | 5,412 | 0.01% | Mar 9, 2026 |
| George R. Krouse Jr | Director | 8,512 | 0.01% | Aug 19, 2026 |
| Laurie Bowen | Director | 1,072 | 0.00% | May 27, 2026 |
| Mary S. Chan | Director | 6,422 | 0.01% | May 27, 2026 |
| Jay LeCoryelle Johnson | Director | 1,665 | 0.00% | May 27, 2026 |
| Amy E. Wilson | Director | 1,702 | 0.00% | May 27, 2026 |
| Steven E. Bernstein | Director | 63,454 | 0.06% | May 27, 2026 |
| Jeffrey Stoops | Director | 401,328 | 0.38% | May 27, 2026 |
| Kevin L. Beebe | Director | 16,644 | 0.02% | May 27, 2026 |
| Jack Langer | Director | 19,335 | 0.02% | May 27, 2026 |
Insider trades
Common stock transactions reported on Form 4, newest first
| Insider | Date | Transaction | Shares | Price | Value | Shares after |
|---|---|---|---|---|---|---|
| George R. Krouse Jr Director | Aug 17, 2026 | Sale | −300 | $182.67 | $54.80K | 8,512 |
| Donald Day EVP - SITE LEASING | Aug 1, 2026 | Option exercise | +457 | – | – | 10,163 |
| Donald Day EVP - SITE LEASING | Aug 1, 2026 | Tax withholding | −170.69 | $180.98 | $30.89K | 9,992 |
| Kevin L. Beebe Director | May 13, 2026 | Tax withholding | −1,492 | $213.61 | $318.71K | 16,644 |
| Kevin L. Beebe Director | May 13, 2026 | Option exercise | +1,501 | $212.31 | $318.68K | 18,136 |
| George R. Krouse Jr Director | May 13, 2026 | Tax withholding | −500 | $213.61 | $106.81K | 8,812 |
| George R. Krouse Jr Director | May 13, 2026 | Option exercise | +501 | $212.31 | $106.37K | 9,312 |
| Jack Langer Director | May 13, 2026 | Tax withholding | −1,496 | $213.61 | $319.56K | 8,704 |
| Jack Langer Director | May 13, 2026 | Option exercise | +1,501 | $212.31 | $318.68K | 10,200 |
| Steven E. Bernstein Director | May 13, 2026 | Tax withholding | −1,496 | $213.61 | $319.56K | 7,140 |
| Steven E. Bernstein Director | May 13, 2026 | Option exercise | +1,501 | $212.31 | $318.68K | 8,636 |
| Laurie Bowen Director | May 1, 2026 | Option exercise | +302 | – | – | 1,067 |
| Laurie Bowen Director | May 1, 2026 | Option exercise | +331 | – | – | 1,398 |
| Laurie Bowen Director | May 1, 2026 | Option exercise | +248 | – | – | 765 |
| Laurie Bowen Director | May 1, 2026 | Tax withholding | −325.97 | $221.20 | $72.10K | 1,072 |
| Kevin L. Beebe Director | May 1, 2026 | Option exercise | +248 | – | – | 16,002 |
| Kevin L. Beebe Director | May 1, 2026 | Option exercise | +302 | – | – | 16,304 |
| Kevin L. Beebe Director | May 1, 2026 | Option exercise | +331 | – | – | 16,635 |
| George R. Krouse Jr Director | May 1, 2026 | Tax withholding | −325.97 | $221.20 | $72.10K | 8,811 |
| George R. Krouse Jr Director | May 1, 2026 | Option exercise | +331 | – | – | 9,137 |
| George R. Krouse Jr Director | May 1, 2026 | Option exercise | +302 | – | – | 8,806 |
| George R. Krouse Jr Director | May 1, 2026 | Option exercise | +248 | – | – | 8,504 |
| Jack Langer Director | May 1, 2026 | Option exercise | +248 | – | – | 8,392 |
| Jack Langer Director | May 1, 2026 | Option exercise | +302 | – | – | 8,694 |
| Jack Langer Director | May 1, 2026 | Option exercise | +331 | – | – | 9,025 |
| Jack Langer Director | May 1, 2026 | Tax withholding | −325.97 | $221.20 | $72.10K | 8,699 |
| Mary S. Chan Director | May 1, 2026 | Option exercise | +248 | – | – | 6,115 |
| Mary S. Chan Director | May 1, 2026 | Option exercise | +302 | – | – | 6,417 |
| Mary S. Chan Director | May 1, 2026 | Tax withholding | −325.97 | $221.20 | $72.10K | 6,422 |
| Mary S. Chan Director | May 1, 2026 | Option exercise | +331 | – | – | 6,748 |
| Jeffrey Stoops Director | May 1, 2026 | Option exercise | +331 | – | – | 141,465 |
| Jeffrey Stoops Director | May 1, 2026 | Option exercise | +302 | – | – | 141,134 |
| Amy E. Wilson Director | May 1, 2026 | Option exercise | +302 | – | – | 1,371 |
| Amy E. Wilson Director | May 1, 2026 | Option exercise | +248 | – | – | 1,069 |
| Amy E. Wilson Director | May 1, 2026 | Option exercise | +331 | – | – | 1,702 |
| Steven E. Bernstein Director | May 1, 2026 | Option exercise | +248 | – | – | 6,502 |
| Steven E. Bernstein Director | May 1, 2026 | Option exercise | +331 | – | – | 7,135 |
| Steven E. Bernstein Director | May 1, 2026 | Option exercise | +302 | – | – | 6,804 |
| Jay LeCoryelle Johnson Director | May 1, 2026 | Option exercise | +248 | – | – | 1,358 |
| Jay LeCoryelle Johnson Director | May 1, 2026 | Tax withholding | −325.97 | $221.20 | $72.10K | 1,665 |
| Jay LeCoryelle Johnson Director | May 1, 2026 | Option exercise | +331 | – | – | 1,991 |
| Jay LeCoryelle Johnson Director | May 1, 2026 | Option exercise | +302 | – | – | 1,660 |
| Mary S. Chan Director | Apr 13, 2026 | Tax withholding | −1,453 | $223.75 | $325.11K | 5,867 |
| Mary S. Chan Director | Apr 13, 2026 | Option exercise | +1,501 | $212.31 | $318.68K | 7,320 |
| Brendan Thomas Cavanagh PRESIDENT AND CEO, Director | Mar 6, 2026 | Tax withholding | −568.61 | $195.69 | $111.27K | 52,818 |
| Brendan Thomas Cavanagh PRESIDENT AND CEO, Director | Mar 6, 2026 | Option exercise | +8,670 | – | – | 61,488 |
| Brendan Thomas Cavanagh PRESIDENT AND CEO, Director | Mar 6, 2026 | Tax withholding | −3,144.77 | $195.69 | $615.40K | 58,343 |
| Brendan Thomas Cavanagh PRESIDENT AND CEO, Director | Mar 6, 2026 | Option exercise | +3,966 | – | – | 62,309 |
| Brendan Thomas Cavanagh PRESIDENT AND CEO, Director | Mar 6, 2026 | Tax withholding | −1,560.62 | $195.69 | $305.40K | 60,748 |
| Brendan Thomas Cavanagh PRESIDENT AND CEO, Director | Mar 6, 2026 | Option exercise | +5,003 | – | – | 65,751 |
| Brendan Thomas Cavanagh PRESIDENT AND CEO, Director | Mar 6, 2026 | Tax withholding | −1,968.68 | $195.69 | $385.25K | 63,782 |
| Brendan Thomas Cavanagh PRESIDENT AND CEO, Director | Mar 6, 2026 | Option exercise | +1,445 | – | – | 53,386 |
| Richard M. Cane EVP; PRES. - INTERNATIONAL | Mar 6, 2026 | Option exercise | +694 | – | – | 7,305 |
| Richard M. Cane EVP; PRES. - INTERNATIONAL | Mar 6, 2026 | Tax withholding | −273.09 | $195.69 | $53.44K | 7,032 |
| Richard M. Cane EVP; PRES. - INTERNATIONAL | Mar 6, 2026 | Option exercise | +4,162 | – | – | 11,194 |
| Richard M. Cane EVP; PRES. - INTERNATIONAL | Mar 6, 2026 | Tax withholding | −1,032.74 | $195.69 | $202.10K | 10,162 |
| Richard M. Cane EVP; PRES. - INTERNATIONAL | Mar 6, 2026 | Option exercise | +1,543 | – | – | 11,705 |
| Richard M. Cane EVP; PRES. - INTERNATIONAL | Mar 6, 2026 | Tax withholding | −607.17 | $195.69 | $118.82K | 11,097 |
| Richard M. Cane EVP; PRES. - INTERNATIONAL | Mar 6, 2026 | Tax withholding | −613.3 | $195.69 | $120.02K | 12,404 |
| Richard M. Cane EVP; PRES. - INTERNATIONAL | Mar 6, 2026 | Option exercise | +1,920 | – | – | 13,017 |
Awards, option exercises, tax withholding and gifts are shown alongside open-market buys and sales. Each name links to the filing on SEC EDGAR.
Planned insider sales
Notices of proposed sale filed on Form 144 before shares are sold
| Seller | Filed | Shares | Market value | Planned sale | Acquired through |
|---|---|---|---|---|---|
| R. Krouse George Jr Officer | Aug 17, 2026 | 300 | $54.80K | Aug 17, 2026 | Restricted Stock Vesting Under a Registered Plan |
| Jack Langer Director | May 1, 2025 | 5,000 | $1.21M | May 1, 2025 | Stock Award |
| Chan Mary Director | Feb 28, 2025 | 1,411 | $307.70K | Feb 28, 2025 | Exercise of options under a registered plan |
| R. Krouse George Jr. Director | Aug 21, 2024 | 325 | $71.36K | Aug 21, 2024 | Restricted stock vesting under a registered plan |
| Jeffrey Stoops Director | Aug 7, 2024 | 48,825 | $10.66M | Aug 7, 2024 | Gift |
| Jeffrey Stoops Director | Jul 31, 2024 | 49,765 | $10.94M | Jul 31, 2024 | Executive Compensation |
| Jeffrey Stoops Affiliate | May 16, 2024 | 27,000 | $5.46M | May 16, 2024 | Gifted |
| Chan Mary Director | Mar 5, 2024 | 1,977 | $430.97K | Mar 5, 2024 | Exercise of options under a registered plan |
| E. Bernstein Revocable Trust Steven Affiliate | Dec 6, 2023 | 7,300 | $1.83M | Dec 6, 2023 | Employee Stock Option Exercise |
| Limited Partnership Bernstein II Affiliate - Steven E Bernstein Family LP | Dec 5, 2023 | 46,076 | $11.52M | Dec 5, 2023 | Employee Stock Option Exercise |
| Steven E. Bernstein Family Foundation The Chairman of the Board | Dec 5, 2023 | 5,000 | $1.25M | Dec 5, 2023 | Employee Stock Option Exercise |
| Calculated Risk SBA Holdings, LLC Affiliate | Nov 27, 2023 | 37,889 | $9.02M | Nov 27, 2023 | Option Exercise |
| R. Krouse George Jr. Officer, Director | Nov 20, 2023 | 500 | $31.38K | Nov 20, 2023 | Restricted stock vesting under a registered plan |
| Risk SBA Holdings LLC Calculated Affiliate | Nov 15, 2023 | 45,779 | $10.53M | Nov 15, 2023 | Employee Stock Option Exercise |
| Kevin L. Beebe Director | Nov 14, 2023 | 1,500 | $345.00K | Nov 14, 2023 | Vested Restricted Stock Units |