SBA Communications Corporation bonds SBAC
Who owns SBA Communications Corporation's debt and what their own filings say it is worth. Bond prices and yields are fund-reported marks (SEC Form N-PORT) as of Jul 2026; they lag the market by about two months. SBAC stock page.
Every bond funds hold
Each bond's latest fund-reported mark. Price per 100 of face value; yield to maturity from price, coupon and maturity; spread over the matched-maturity Treasury for US-dollar bonds.
| Bond | Coupon | Maturity | Ccy | Price | Yield | Spread | Funds | Held | As of |
|---|---|---|---|---|---|---|---|---|---|
| 78410GAC8 | 3.875% fixed | 2027-02-15 | USD | 99.41 | 4.98% | 113 bp | 1 | $199K | Jul 2026 |
| 78410GAD6 | 3.875% fixed | 2027-02-15 | USD | 99.37 | 5.07% | 122 bp | 33 | $101.0M | Jul 2026 |
| 78410GAG9 | 3.125% fixed | 2029-02-01 | USD | 95.50 | 5.06% | 82 bp | 34 | $131.3M | Jul 2026 |
| 78410GAH7 | 4.88% fixed | 2030-01-15 | USD | 99.60 | 5.01% | 73 bp | 13 | $44.3M | Jul 2026 |
| BL4763878 | 0% fixed | 2031-01-27 | USD | — | — | — | 2 | $1.2M | Jun 2026 |
| 78410GAJ3 | 5.15% fixed | 2031-07-15 | USD | 99.28 | 5.32% | 99 bp | 25 | $76.1M | Jul 2026 |
| 78410GAK0 | 5.45% fixed | 2033-07-15 | USD | 99.62 | 5.52% | 106 bp | 10 | $6.4M | Jul 2026 |
Spread history
Median spread of the US-dollar bonds over Treasuries, month-ends with complete filings. Fund-reported.
Price history
Median fund-marked price across the bonds, per 100 of face value.
By month
Funds file on staggered quarter-ends, so each month-end is marked by the funds that reported for it; the amount held moves with which funds filed, not only with buying and selling.
| Month-end | Bonds | Held | Median price | USD yield | USD spread | Most funds on one bond |
|---|---|---|---|---|---|---|
| Jul 2026 | 6 | $359.3M | 99.39 | 5.19% | 90 bp | 34 |
| Jun 2026 | 3 | $685.0M | 97.57 | 4.92% | 79 bp | 61 |
| May 2026 | 2 | $175.4M | 97.58 | 4.77% | 74 bp | 29 |
| Apr 2026 | 3 | $251.2M | 99.38 | 4.58% | 76 bp | 45 |
| Mar 2026 | 4 | $666.6M | 99.00 | 5.12% | 140 bp | 74 |
| Feb 2026 | 2 | $199.6M | 97.79 | 4.54% | 102 bp | 35 |
| Jan 2026 | 3 | $284.7M | 99.26 | 4.61% | 110 bp | 50 |
| Dec 2025 | 3 | $526.9M | 97.38 | 4.66% | 111 bp | 73 |
| Nov 2025 | 2 | $187.0M | 97.56 | 4.45% | 85 bp | 37 |
| Oct 2025 | 3 | $263.2M | 98.87 | 4.79% | 120 bp | 48 |
| Sep 2025 | 4 | $516.6M | 96.01 | 5.15% | 156 bp | 65 |
| Aug 2025 | 2 | $188.5M | 96.16 | 5.07% | 132 bp | 37 |
| Jul 2025 | 3 | $249.6M | 98.25 | 5.07% | 110 bp | 47 |
Who holds the debt
Fund series in their latest quarterly N-PORT report, largest first, with the change in face value against each fund's own previous report. Names as reported in the filings. 34 added, 38 cut, 43 new holders and 43 exits in the latest quarter.
| Fund series | Report | Face value | Value | Change in face value |
|---|---|---|---|---|
| T. Rowe Price Capital Appreciation Fund T. ROWE PRICE CAPITAL APPRECIATION FUND, INC. | 2026-06-30 | $216.9M | $211.4M | $0 |
| Baird Ultra Short Bond Fund Baird Funds Inc | 2026-06-30 | $72.2M | $71.8M | $0 |
| PGIM Short Duration High Yield Income Fund Prudential Investment Portfolios, Inc. 15 | 2026-05-29 | $53.1M | $52.6M | $17.0M |
| JNL/T. Rowe Price Capital Appreciation Fund JNL Series Trust | 2026-06-30 | $50.3M | $49.0M | $2.0M |
| Baird Core Plus Bond Fund Baird Funds Inc | 2026-06-30 | $37.0M | $35.4M | $21.1M |
| Baird Intermediate Bond Fund Baird Funds Inc | 2026-06-30 | $34.6M | $33.1M | new |
| Baird Short-Term Bond Fund Baird Funds Inc | 2026-06-30 | $31.9M | $30.5M | $19.4M |
| Fidelity Real Estate Income Fund Fidelity Securities Fund | 2026-07-31 | $30.5M | $29.6M | $0 |
| Fidelity Capital and Income Fund Fidelity Summer Street Trust | 2026-07-31 | $30.3M | $29.6M | $0 |
| Core Fixed Income Fund Principal Funds, Inc | 2026-07-31 | $29.0M | $28.8M | new |
| iShares 0-5 Year High Yield Corporate Bond ETF iShares Trust | 2026-07-31 | $25.7M | $25.0M | -$1.2M |
| iShares Broad USD High Yield Corporate Bond ETF iShares Trust | 2026-07-31 | $24.7M | $23.6M | $0 |
| VANGUARD HIGH-YIELD CORPORATE FUND VANGUARD FIXED INCOME SECURITIES FUNDS | 2026-07-31 | $21.9M | $21.3M | $0 |
| VY(R) T. ROWE PRICE CAPITAL APPRECIATION PORTFOLIO Voya Investors Trust | 2026-06-30 | $21.3M | $20.7M | $0 |
| Hartford Dynamic Bond Fund HARTFORD MUTUAL FUNDS, INC | 2026-07-31 | $20.3M | $20.2M | new |
| Baird Aggregate Bond Fund Baird Funds Inc | 2026-06-30 | $20.6M | $19.8M | $8.2M |
| MFS Total Return Bond Fund MFS Series Trust IX | 2026-07-31 | $17.5M | $16.7M | $0 |
| iShares iBoxx $ High Yield Corporate Bond ETF iShares Trust | 2026-05-31 | $17.3M | $16.5M | -$22.7M |
| Fidelity SAI Real Estate Income Fund Fidelity Securities Fund | 2026-07-31 | $16.5M | $16.0M | $2.0M |
| Penn Series Flexibly Managed Fund Penn Series Funds Inc | 2026-06-30 | $15.6M | $15.3M | $0 |
| Invesco BulletShares 2027 Corporate Bond ETF Invesco Exchange-Traded Self-Indexed Fund Trust | 2026-05-31 | $15.2M | $15.1M | $250K |
| PIMCO Multisector Bond Active Exchange-Traded Fund PIMCO ETF Trust | 2026-06-30 | $14.5M | $14.4M | $0 |
| PIMCO Low Duration Income Fund PIMCO FUNDS | 2026-06-30 | $13.9M | $13.8M | $0 |
| PGIM High Yield Fund Prudential Investment Portfolios, Inc. 15 | 2026-05-29 | $13.5M | $13.0M | $0 |
| PIMCO High Yield Fund PIMCO FUNDS | 2026-06-30 | $11.5M | $11.0M | -$9.0M |
Largest exits in the latest quarter (fund held the bonds in its previous report, none now): BlackRock High Yield Portfolio ($28.4M), Columbia Strategic Income Fund ($5.2M), Short Duration Strategic Income Fund ($4.4M), Goldman Sachs High Yield Fund ($3.8M), Fidelity Enhanced High Yield ETF ($3.8M), American Century Diversified Corporate Bond ETF ($3.7M), Short Duration Fund ($3.3M), BlackRock Credit Allocation Income Trust ($3.0M), iShares iBonds 2029 Term High Yield and Income ETF ($2.2M), JPMorgan Global Allocation Fund ($1.6M).
ETFs holding these bonds
From each ETF's own latest N-PORT report: the issuer's bonds as a share of the ETF's net assets. A holdings list, not a recommendation.
| ETF | Report | Bonds | Face value | Value | % of net assets |
|---|---|---|---|---|---|
| SHYG iShares 0-5 Year High Yield Corporate Bond ETF | 2026-07-31 | 2 | $25.7M | $25.0M | 0.33% |
| USHY iShares Broad USD High Yield Corporate Bond ETF | 2026-07-31 | 1 | $24.7M | $23.6M | 0.08% |
| HYG iShares iBoxx $ High Yield Corporate Bond ETF | 2026-05-31 | 1 | $17.3M | $16.5M | 0.10% |
| BSCR Invesco BulletShares 2027 Corporate Bond ETF | 2026-05-31 | 1 | $15.2M | $15.1M | 0.33% |
| PRIV State Street(R) IG Public & Private Credit ETF | 2026-07-31 | 4 | $10.8M | $10.7M | 1.28% |
| BSCT Invesco BulletShares 2029 Corporate Bond ETF | 2026-05-31 | 1 | $10.2M | $9.8M | 0.35% |
| SJNK State Street(R) SPDR Bloomberg Short Term High Yield Bond ETF | 2026-06-30 | 1 | $9.0M | $8.9M | 0.18% |
| NEAR iShares Short Duration Bond Active ETF | 2026-07-31 | 2 | $7.8M | $7.7M | 0.16% |
| PHYL PGIM Active High Yield Bond ETF | 2026-05-29 | 1 | $7.3M | $7.0M | 0.54% |
| SPHY State Street(R) SPDR(R) Portfolio High Yield Bond ETF | 2026-06-30 | 1 | $6.4M | $6.1M | 0.05% |
| HYS PIMCO 0-5 Year High Yield Corporate Bond Index Exchange-Traded Fund | 2026-06-30 | 2 | $5.6M | $5.5M | 0.32% |
| IBDV iShares iBonds Dec 2030 Term Corporate ETF | 2026-07-31 | 1 | $4.7M | $4.7M | 0.14% |
| IBDW iShares iBonds Dec 2031 Term Corporate ETF | 2026-07-31 | 1 | $4.5M | $4.5M | 0.18% |
| HYLB Xtrackers USD High Yield Corporate Bond ETF | 2026-05-29 | 1 | $4.5M | $4.3M | 0.12% |
| IUSB iShares Core Universal USD Bond ETF | 2026-07-31 | 4 | $4.2M | $4.1M | 0.01% |
Default risk, three ways
Stock market: distance-to-default
Not computed: financial company (banks, insurers, BDCs and REITs carry leverage as their business, which the model misreads).
Bond market: priced-in odds
A 90 bp spread prices in about 1.5% a year of default odds (spread ÷ (1 − 40% recovery)). Fund-reported marks as of Jul 2026; the spread also pays for liquidity and risk premium, so this overstates actual defaults.
Accounts: Altman Z
Not available.
The stock side: 13F filings
What institutions report holding in SBAC's stock and options. Options are reported at the value of the underlying shares, not the premium paid; 13F lists long positions only, lags 45 days after quarter-end, and does not show whether puts hedge a stock position.
| Quarter-end | Stock holders | Stock value | Put managers | Puts (underlying value) | Call managers | Calls (underlying value) | Convertible holders |
|---|---|---|---|---|---|---|---|
| 2026-09-30 filings still arriving | 69 | $55.1M | 0 | — | 0 | — | 0 |
| 2026-06-30 | 670 | $17.71B | 7 | $31.1M | 14 | $137.2M | 0 |
| 2026-03-31 | 645 | $13.26B | 8 | $22.9M | 11 | $105.0M | 0 |
| 2025-12-31 | 667 | $18.66B | 8 | $13.9M | 7 | $19.7M | 1 |
| 2025-09-30 | 665 | $18.70B | 13 | $32.1M | 11 | $36.7M | 1 |
| 2025-06-30 | 693 | $23.27B | 9 | $38.3M | 10 | $35.7M | 1 |
Sources: fund holdings and fund-reported marks from SEC Form N-PORT (published about 60 days after each month-end); 13F filings; House and Senate periodic transaction reports and OGE Form 278-T; Treasury yields from FRED. Findings from filings, not advice. How each number is computed.