TCW funds, an investment management company, published its third quarter 2025 investor letter “TCW Global Real Estate Fund”. A copy of the letter can be downloaded here. The fund (I Share) returned +2.37% for the quarter compared to +4.50% for the S&P Global REIT Index. The overweight in Diversified Real Estate had a favorable impact on the fund’s relative performance during the quarter, while the overweight in Telecom Tower REIT had a negative effect. Plus, check out the fund’s top five holdings for its top picks in 2025.

In its Q3 2025 investor letter, TCW Global Real Estate Fund highlighted stocks like SBA Communications Corporation (NASDAQ:SBAC). SBA Communications Corporation (NASDAQ:SBAC) is an independent owner and operator of wireless communications infrastructure. One month return of SBA Communications Corporation (NASDAQ:SBAC) was 2.14% and its stock lost 5.27% of its value in last 52 weeks. On December 26, 2025, shares of SBA Communications Corporation (NASDAQ:SBAC) closed at $192.60 per share, with a market capitalization of $20.524 billion.

TCW Global Real Estate Fund stated the following about SBA Communications Corporation (NASDAQ:SBAC) in its Q3 2025 investor letter:

“Our two worst performing stocks were SBA Communications Corporation (NASDAQ:SBAC) (SBAC; 4.79%**; Telecom Tower Reits) and American Tower Corporation (AMT; 6.32%**; Telecom Tower Reits).

SBA Communications Corporation (NASDAQ:SBAC) is not on our list The 30 most popular stocks among hedge funds. According to our database, 35 hedge fund portfolios held SBA Communications Corporation (NASDAQ:SBAC) at the end of the third quarter, down from 41 in the previous quarter. While we recognize the potential of SBA Communications Corporation (NASDAQ:SBAC) as an investment, we believe certain AI stocks offer greater upside potential and less downside risk. If you’re looking for an extremely undervalued AI stock that will also benefit significantly from Trump-era tariffs and the onshoring trend, check out our free report on the best short term AI stock.