Lone Pine Capital Discloses New 6.4% Stake in SBA Communications Corporation (SBAC)

Steve Mandel‘s Lone Pine Capital has disclosed adding SBA Communications Corporation (NASDAQ:SBAC) to its equity portfolio. The fund revealed holding 8.20 million class A shares, which are equivalent to 6.4% of the class A common stock.

LONE PINE CAPITAL

SBA Communications Corporation (NASDAQ:SBAC) owns and operates wireless communication towers in the United Sates and Brazil. It expanded into Brazil in December 2012 with the purchase of 800 freestanding wireless towers. Recently the company triggered the Conversion rights on its 4% Convertible Senior Notes issued in April, 2009. Each holder of the notes is be eligible to receive 32.9164 shares of its Class A common stock per $1,000 principal amount, as announced by the company.

Among the hedge funds tracked by us at Insider Monkey, Ken Griffin’s Citadel Investment Group held 3.06 million shares worth $246.62 million in the company. It is followed by Paul Hudson’s Glade Brook Capital Partners with 1.23 million shares, worth $99.24 million and Matthew Iorio’s, White Elm Capital with approximately 916,000 shares, worth $73.68 million as at the end of the third quarter of last year.

Lone Pine Capital is managed by Steve Mandel, a Tiger cub. He is renowned for his stock picking abilities and is a ‘bottom-up’ investor. The fund has retuned 23% during the past 11 years beating the S&P 500 index by almost 20 percentage points per year. With almost $22.40 billion in its equity portfolio, the hedge fund focuses on Services, Technology and Basic Materials sectors mainly though it invests in other sectors as well. Its major investments include Dollar General Corp (NYSE:DG) with $998.47 million riding on 17.68 million shares. The other investments include 11.96 million shares worth $981.89 million in Cognizant Technology Sols Corp (NASDAQ:CTSH) and 969.57 million shares worth $980.19 million in Priceline Com Inc (NASDAQ:PCLN). The fund increased its holdings in Wyndham Worldwide Corporation (NYSE:WYN) to 6.77 million shares from 5.71 million shares held earlier.

Disclosure: none

Recommended Reading:

Dan Loeb, Third Point 2013 Q4 Investor Letter

Jeff Smith Trims Holdings in Integrated Device Technology Inc (IDTI) and Carbon Corporation (CCC)

Hedge Fund Highlights: Warren Buffett, Carl Icahn & Paul Tudor Jones

blog comments powered by Disqus
Insider Monkey Headlines
Insider Monkey Small Cap Strategy
Insider Monkey Small Cap Strategy

Insider Monkey beat the market by 52 percentage points in 24 months Click to see monthly returns in table format!

Lists

10 High Margin Food Products to Build a Business Around

The 10 Most Expensive Clothing Stores in the United States to Get Decked Out At

The 5 Biggest Kickstarter Scams That Swindled Backers’ Donations

The 10 Most Expensive Boarding Schools In the World

50 Crazy Facts About Japan You Won’t Believe

Top 10 Least Expensive Hybrid Cars to Save the Planet With

The 10 Biggest ‘Gate’ Controversies in History

The 10 States with the Highest Nursing Shortages Leaving Their Hospitals Depleted

The 10 Best Value Investment Blogs that Every Investor Must Read

The 6 Cheapest Boarding Schools in Europe 2015

The 5 Most Expensive Cars To Insure in the World

The 10 Most Common Genetically Modified Foods

10 Self-Made Billionaires Who Came From Nothing

The 10 Most Expensive Cities to Live in North America

The 13 Most Expensive Headphones in the World to Represent

The Top 20 Wealthiest Soccer Teams in 2014

4 BuzzWorthy Cannabis Stocks And Some Smoking Derivative Plays

The 10 Healthiest Fast Food Chains in America to Dine At

The 5 Most Expensive Cat Food Brands You Can Spoil Your Kitty With

The 6 Best eCommerce Platforms for Small Businesses

The 10 Worst Mistakes an Entrepreneur Can Make

The 5 Most OP Characters in League of Legends to Carry Games and Crush Foes With

The 5 Best Foods to Eat Before Running that Will Help You Pound the Pavement

10 Glaring Plot Holes in The Walking Dead that a Zombie-Filled Bus Could Drive Through

The 5 Biggest Celebrity Stoners Who Love Their Reefer

The 10 Most Overrated Movies Of All Time by Out-of-Touch Critics

Top 6 Least Expensive Cruise Destinations For 2015 that Will Take You to Paradise

10 States with Lowest Substance Abuse Rates in America

The 14 Most Watched TV Finales Ever

The 10 Best Selling Role Playing Games of All Time for PC

10 Most Influential Papers In Economics

Top 8 Biggest Charities in the US

10 Worst Celebrity Career Moves Ever

Top 10 Best Paid Tennis Stars in the World

Top 6 Cities For The Ultra Rich to Live in Comfort

10 Cities with High Demand for Nurses

6 of the Worst Greeting Card Messages Ever Crafted

How to Make Money in ArcheAge and Build Your Empire

10 Foods To Eat To Lower Cholesterol Levels

The 10 Most Hated Television Characters of All Time

The 30 Worst Halloween Costume Ideas Ever Brought to Horrible Life

10 Vocational Skills in Demand Today with Jobs Waiting to be Filled

10 Best Places to Visit in Central and South America

The 10 Greatest Empires in History Which Nearly Conquered the World

The 6 Cheapest Boarding Schools In America 2015

5 Clear Reasons LoL is Better than DotA, Continues to Rule MOBAs

The Only 9 Teams with a Chance to Win the Super Bowl

The 15 Most Common Phobias in America that Induce Fits of Panic

Top 6 Least Expensive Tourist Destinations in 2014

Jim Goetz, Peter Fenton, Jim Breyer: Top 6 Venture Investors for 2014

Subscribe

Enter your email:

Delivered by FeedBurner

X

Thanks! An email with instructions is sent to !

Your email already exists in our database. Click here to go to your subscriptions

Insider Monkey returned 47.6% in its first year! Wondering How?

Download a complete edition of our newsletter for free!