What smart money is saying about Crown Castle
1 fund in our archive has pitched Crown Castle, most recently LRT Capital Management in June 2025.
Crown Castle owns, operates and leases more than 40,000 cell towers and approximately 80,000 route miles of fiber supporting small cells and fiber solutions across every major U.S. market. This nationwide portfolio of communications infrastructure connects cities and communities to essential data, technology and wireless service - bringing information, ideas and innovations to the people and businesses that need them. For more information on Crown Castle, please visit www.crowncastle.com.
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Fund signal · last 12 months
5 lettersToo few moves on Crown Castle yet for a clear signal
Moves described in fund letters in our archive. A sentence published word for word by several funds of one house in the same quarter counts once.
Position history
Between Q2 2025 and Q3 2026, 7 fund letters reported a position in Crown Castle, with 1 buy (opened or added) and 2 sells (trimmed or exited).
| Quarter | Letters | Bought | Sold | Theses |
|---|---|---|---|---|
| Q3 2026 | 4 | 1 | 2 | 0 |
| Q2 2026 | 1 | 0 | 0 | 0 |
| Q3 2025 | 1 | 0 | 0 | 0 |
| Q2 2025 | 1 | 0 | 0 | 1 |
Bought and Sold count moves: the same sentence published by several funds of one house in a quarter counts once.
Fund activity · 7 positions · 3 moves
- September 2026
“We initiated a position in Naturgy, a diversified Spanish energy company, whose sector-leading yield, strong balance sheet, improving governance and near-term earnings visibility create an attractive income profile. We purchased West Japan Railway, a major passenger railway operator in western Japan, at a valuation we believe fully reflects inflation and geopolitical concerns; strong passenger traffic, a 3.5% dividend yield and the potential for a fare increase in 2027 provide upside. We also added Crown Castle, a leading U.S. owner of wireless towers, at an attractive valuation, as we believe concerns about satellite disruption are overstated.”
Crown Castle - September 2026
“Real estate (-12.8% vs. -5.5%), utilities (-12.2% vs. -12.4%) and healthcare (+6.0% vs. +6.5%) were the biggest sector detractors to relative performance in the quarter. Real estate underperformed as our holdings in residential REITs (Camden Property Trust and Invitation Homes), REITs related to housing (Rayonier), and a U.S.- focused cell tower REIT (Crown Castle), underperformed the sector.”
Crown Castle - September 2026
“● Exited: Crown Castle, Inc. (CCI) – Sold to reallocate capital to higher-conviction ideas.”
Crown Castle - September 2026
“● Exited: Crown Castle, Inc. (CCI) – Sold to reallocate capital to higher-conviction ideas. The core tower business continued to generate sustainable, recurring revenue from long-term carrier leases, but near-term earnings growth was muted by slower carrier capex spending. The DISH- related noise and increased potential competition from newer technology also lowered our confidence in the outlook. Given it was a smaller position and we did not have conviction to add to the name, we elected to exit.”
Crown Castle - June 2026
“Financials and Real Estate holdings such as London Stock Exchange and Crown Castle detracted from relative results.”
Crown Castle - HoldsLRT CMSeptember 2025
“StoneX Group Inc. (SNEX) 3.36 Long Equity -1.88 Simpson Manufacturing Co., Inc. (SSD) 3.22 Hedges -0.99 Asbury Automotive Group, Inc. (ABG) 3.04 Unlevered Gross Return -2.88 Chemed Corp. (CHE) 2.99 Leveraged Gross Return -7.91 The Toronto-Dominion Bank (TD) 2.87 Net Return 8.00 RLI Corp. (RLI) 2.70 Toro Co. (TTC) 2.51 Beta contribution 1.16 Crown Castle International Corp. (CCI) 2.46 Alpha contribution -9.15 Corporación América Airports S.A.”
Crown Castle - June 2025
“Crown Castle International Corp. (CCI) Crown Castle International Corp. stands as a category-defining enterprise, owning and operating the largest portfolio of shared communications infrastructure in the United States.”
Crown Castle
Fund coverage · 1 thesis
- LRT Capital ManagementJune 2025
Crown Castle’s unmatched tower infrastructure, long-term contracts, and strategic shift to a pure-play tower model position it as an essential, high-margin enabler of the 5G-driven wireless revolution and a durable compounder in the nation’s digital future.
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