SBA Communications (SBAC) Slid on Slower 5G Deployment

Diamond Hill Capital, an investment management company, released its “Select Fund” third-quarter 2025 investor letter. A copy of the letter can be downloaded here. Markets continued their YTD rally in the third quarter, with the Russell 3000 Index surging 8%. At the same time, the portfolio underperformed the Russell 3000 Index, returning 4.98%. To get an idea of the fund’s best choices for 2025, check out its top 5 positions.

In its third-quarter 2025 investor letter, Diamond Hill Select Fund highlighted stocks such as SBA Communications Corporation (NASDAQ:SBAC). SBA Communications Corporation (NASDAQ:SBAC) is an independent owner and operator of wireless communications infrastructure. The one-month return of SBA Communications Corporation (NASDAQ:SBAC) was -0.49%, and its shares lost 15.27% of their value over the last 52 weeks.  On October 30, 2025, SBA Communications Corporation (NASDAQ:SBAC) stock closed at $191.14 per share, with a market capitalization of $20.524 billion.

Diamond Hill Select Fund stated the following regarding SBA Communications Corporation (NASDAQ:SBAC) in its third quarter 2025 investor letter:

“Other bottom Q3 contributors included Salesforce, Antero Resources and SBA Communications Corporation (NASDAQ:SBAC). SBA Communications, a leading owner and operator of wireless communications infrastructure, continues to see slow 5G deployment following its initial build-out.”

Why SBA Communications Corp (SBAC) Is Surging In 2025

SBA Communications Corporation (NASDAQ:SBAC) is not on our list of 30 Most Popular Stocks Among Hedge Funds. According to our database, 41 hedge fund portfolios held SBA Communications Corporation (NASDAQ:SBAC) at the end of the second quarter, up from 40 in the previous quarter. While we acknowledge the risk and potential of SBA Communications Corporation (NASDAQ:SBAC) as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than SBA Communications Corporation (NASDAQ:SBAC) and that has 10,000% upside potential, check out our report about this cheapest AI stock.

In another article, we covered SBA Communications Corporation (NASDAQ:SBAC) and shared the list of best real estate stocks to invest in. In addition, please check out our hedge fund investor letters Q3 2025 page for more investor letters from hedge funds and other leading investors.

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Disclosure: None. This article is originally published at Insider Monkey.