CROWN CASTLE INC CCI
COM · REIT · CUSIP 22822V101 · ISIN US22822V1017
American communications infrastructure company
- SectorReal estate
- IndustryReal Estate Investment Trusts
- HeadquartersHouston, TX
- Founded1994
- Websitecrowncastle.com
- FilingsSEC EDGAR
* Summed across managers. Shares that two managers' reports both contain – a subsidiary's holdings that its parent's report includes too, or a sub-adviser's in its client's – are counted once ($52.9m this quarter). Holder counts are more reliable. Shares outstanding: 435.5m as of 2025-11-04, from the company's own SEC filing; the percentage can still exceed 100%: lent-out shares are counted by the lender and the buyer, and some reports overlap without saying so. Implied quarter-end price ≈ $88.87. Options: 23 managers hold calls ($173.5m notional), 21 hold puts ($93.7m).
Trends to Q4 2025
Institutional holders
Managers reporting a position, each quarter
Numbers
| Quarter | Holders |
|---|---|
| Q3 2022 | 1,295 |
| Q4 2022 | 1,325 |
| Q1 2023 | 1,288 |
| Q2 2023 | 1,237 |
| Q3 2023 | 1,157 |
| Q4 2023 | 1,241 |
| Q1 2024 | 1,200 |
| Q2 2024 | 1,128 |
| Q3 2024 | 1,158 |
| Q4 2024 | 1,123 |
| Q1 2025 | 1,106 |
| Q2 2025 | 1,077 |
| Q3 2025 | 1,063 |
| Q4 2025 | 1,031 |
Buyers vs sellers
Managers adding to or starting a position, vs cutting or selling out
Numbers
| Quarter | Bought or added | Cut or sold out |
|---|---|---|
| Q1 2024 | 579 | 597 |
| Q2 2024 | 489 | 646 |
| Q3 2024 | 551 | 538 |
| Q4 2024 | 411 | 680 |
| Q1 2025 | 534 | 557 |
| Q2 2025 | 528 | 513 |
| Q3 2025 | 483 | 518 |
| Q4 2025 | 395 | 593 |
Calls vs puts
Options held, notional value, last 4 quarters. P/C = puts ÷ calls
Numbers
| Quarter | Calls | Puts | P/C |
|---|---|---|---|
| Q1 2025 | $854.9m | $525.8m | 0.62 |
| Q2 2025 | $883.3m | $462.8m | 0.52 |
| Q3 2025 | $212.1m | $139.5m | 0.66 |
| Q4 2025 | $173.5m | $93.7m | 0.54 |
Biggest buyers
| LAZARD ASSET MANAGEMENT LLC | Added | +6.4m |
| COHEN & STEERS, INC. | Added | +4.0m |
| PRINCIPAL FINANCIAL GROUP INC | Added | +2.9m |
| MANUFACTURERS LIFE INSURANCE COMPANY, THE | Added | +2.5m |
| DEUTSCHE BANK AG\ | Added | +2.1m |
| HSBC HOLDINGS PLC | Added | +1.8m |
| BlackRock, Inc. | Added | +1.0m |
| Invesco Ltd. | Added | +822.9k |
| Ilex Capital Partners (UK) LLP | Added | +684.0k |
| Connor, Clark & Lunn Investment Management Ltd. | Added | +576.9k |
Biggest sellers
| UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC | Reduced | -4.5m |
| FMR LLC | Reduced | -3.1m |
| JPMORGAN CHASE & CO | Reduced | -2.2m |
| CITADEL ADVISORS LLC | Reduced | -1.9m |
| Clearbridge Investments, LLC | Sold out | -1.7m |
| LONDON CO OF VIRGINIA | Reduced | -1.6m |
| UBS Group AG | Reduced | -1.6m |
| GOLDMAN SACHS GROUP INC | Reduced | -1.3m |
| ROYAL BANK OF CANADA | Reduced | -1.3m |
| MACQUARIE GROUP LTD | Reduced | -1.1m |
Biggest calls
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | Reduced | $43.8m493.0k shares |
| CITADEL ADVISORS LLC | Added | $33.6m378.4k shares |
| Great Hill Capital LLC | Added | $18.5m305.0k shares |
| JANE STREET GROUP, LLC | Added | $14.6m164.6k shares |
| IMC-Chicago, LLC | Added | $11.2m126.3k shares |
| UBS Group AG | Added | $9.7m108.9k shares |
| CAPITAL FUND MANAGEMENT S.A. | Added | $7.9m89.2k shares |
| TUDOR INVESTMENT CORP ET AL | Reduced | $6.1m68.7k shares |
| SIMPLEX TRADING, LLC | Reduced | $5.1m57.6k shares |
| Oribel Capital Management, LP | New | $4.5m50.5k shares |
Biggest puts
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | Added | $28.1m316.3k shares |
| CITADEL ADVISORS LLC | Added | $17.7m199.7k shares |
| CAPITAL FUND MANAGEMENT S.A. | Reduced | $10.1m114.1k shares |
| IMC-Chicago, LLC | Reduced | $6.6m74.0k shares |
| SIMPLEX TRADING, LLC | Added | $4.8m53.8k shares |
| TUDOR INVESTMENT CORP ET AL | Reduced | $3.8m42.5k shares |
| GROUP ONE TRADING LLC | Added | $3.4m38.7k shares |
| Centiva Capital, LP | Unchanged | $3.1m35.0k shares |
| PEAK6 LLC | New | $2.7m30.2k shares |
| JANE STREET GROUP, LLC | Reduced | $2.4m27.5k shares |
Options at notional value: the value of the shares the contracts control, as filers report them, not what the options cost. Not included in the holders, shares or buying above.
Major shareholders (over 5%)
Anyone who owns more than 5% of a class of the company's shares has to say so: on Schedule 13D if they may try to influence or control the company, on 13G if they're a passive investor, and update it as the stake changes. Each holder's latest filing, from 19 Dec 2024 on; percentages are of the share class, as the holder worked them out.
| Holder | Stake |
|---|---|
| COHEN & STEERS, INC. 13G · institution +1.0 pts · filed 2026-05-15 | 9.3% |
| BlackRock, Inc. 13G · institution filed 2025-04-17 | 8.9% |
| VANGUARD PORTFOLIO MANAGEMENT LLC 13G · institution new · filed 2026-04-29 | 8.6% |
| VANGUARD CAPITAL MANAGEMENT LLC 13G · institution new · filed 2026-04-29 | 7.5% |
| STATE STREET CORP 13G · institution new · filed 2026-02-09 | 5.1% |
Fell to 5% or below in the last year: VANGUARD GROUP INC (0.0%, 2026-03-26; now reported by VANGUARD PORTFOLIO MANAGEMENT LLC)
Insider purchases and sales in Q4 2025
Shares bought or sold by the company's own officers, directors and 10% owners, in the open market or privately, as they reported to the SEC on Form 4 (due within two business days of the trade). Grants, option exercises, shares withheld for tax and gifts aren't included.
Officers and directors buying vs selling
Number of people, by quarter (10% owners not included)
Numbers
| Quarter | Buying | Bought | Selling | Sold | Sold under a plan |
|---|---|---|---|---|---|
| Q1 2024 | 1 | $10.8k | 1 | $368.8k | — |
| Q2 2024 | 1 | $1.9k | 1 | $4.1k | — |
| Q3 2024 | 0 | — | 1 | $1.1m | — |
| Q4 2024 | 0 | — | 0 | — | — |
| Q1 2025 | 0 | — | 0 | — | — |
| Q2 2025 | 1 | $39.2k | 4 | $3.7m | — |
| Q3 2025 | 0 | — | 2 | $1.7m | — |
| Q4 2025 | 0 | — | 2 | $3.0m | — |
| Date | Insider | Trade | Value |
|---|---|---|---|
| 2025-10-28 | Levendos Christopher EVP & COO - Fiber | Sold | $100.1k1.1k shares |
| 2025-10-24 | SCHLANGER DANIEL K EVP and CTO | Sold | $2.9m30.0k shares |
Their holding: how much the trade added to or took from the insider's holding (direct, or the trust or fund named). The same trade is sometimes reported by more than one insider, such as a fund and the director who represents it; totals count it once. A value is left blank where the reported price is far from the market price (usually a typo).
Holders, Q4 2025
| Manager | Shares | Change |
|---|---|---|
| VANGUARD GROUP INC 0.09% of their portfolio | 69.8m $6.2bn | Added +386.7k |
| BlackRock, Inc. 0.07% of their portfolio | 46.7m $4.1bn | Added +1.0m |
| COHEN & STEERS, INC. 6.39% of their portfolio | 39.8m $3.5bn | Added +4.0m |
| STATE STREET CORP 0.07% of their portfolio | 22.2m $2.0bn | Added +511.0k |
| WELLINGTON MANAGEMENT GROUP LLP 0.22% of their portfolio | 14.0m $1.2bn | Added +380.4k |
| GEODE CAPITAL MANAGEMENT, LLC 0.07% of their portfolio | 13.0m $1.2bn | Added +184.5k |
| LAZARD ASSET MANAGEMENT LLC 1.75% of their portfolio | 11.6m $1.0bn | Added +6.4m |
| MORGAN STANLEY 0.05% of their portfolio | 10.2m $905.5m | Reduced -613.2k |
| Invesco Ltd. 0.06% of their portfolio | 7.3m $645.2m | Added +822.9k |
| DEUTSCHE BANK AG\ 0.21% of their portfolio | 7.2m $636.3m | Added +2.1m |
| NORGES BANK 0.06% of their portfolio | 6.7m $594.7m | Not comparable |
| DIMENSIONAL FUND ADVISORS LP 0.12% of their portfolio | 6.2m $549.3m | Reduced -4.7k |
| Legal & General Group Plc 0.12% of their portfolio | 6.0m $535.5m | Added +403.9k |
| CHARLES SCHWAB INVESTMENT MANAGEMENT INC 0.08% of their portfolio | 5.8m $512.4m | Added +273.8k |
| Fisher Asset Management, LLC 0.17% of their portfolio | 5.5m $489.4m | Added +54.1k |
| FMR LLC 0.02% of their portfolio | 4.9m $432.9m | Reduced -3.1m |
| BANK OF AMERICA CORP /DE/ 0.03% of their portfolio | 4.8m $428.0m | Reduced -265.8k |
| MANUFACTURERS LIFE INSURANCE COMPANY, THE 0.34% of their portfolio | 4.6m $409.7m | Added +2.5m |
| Daiwa Securities Group Inc. 1.24% of their portfolio | 4.3m $383.3m | Added +381.7k |
| NORTHERN TRUST CORP 0.05% of their portfolio | 4.0m $357.7m | Reduced -98.3k |
| PRICE T ROWE ASSOCIATES INC /MD/ 0.04% of their portfolio | 3.7m $331.7m | Reduced -751.2k |
| Nuveen, LLC 0.09% of their portfolio | 3.7m $327.4m | Reduced -112.4k |
| PRINCIPAL FINANCIAL GROUP INC 0.16% of their portfolio | 3.6m $318.3m | Added +2.9m |
| UBS Group AG 0.06% of their portfolio | 3.4m $298.1m | Reduced -1.6m |
| FIL Ltd 0.22% of their portfolio | 3.3m $296.3m | Reduced -3.7k |
| CANADA PENSION PLAN INVESTMENT BOARD 0.20% of their portfolio | 3.3m $295.3m | Reduced -2.0k |
| ROYAL BANK OF CANADA 0.05% of their portfolio | 3.3m $291.8m | Reduced -1.3m |
| HSBC HOLDINGS PLC 0.08% of their portfolio | 3.2m $281.9m | Added +1.8m |
| COOKE & BIELER LP 2.72% of their portfolio | 2.9m $260.5m | Added +511.8k |
| JPMORGAN CHASE & CO 0.02% of their portfolio | 2.9m $260.4m | Reduced -2.2m |
| Pictet Asset Management Holding SA 0.24% of their portfolio | 2.8m $245.8m | Added +81.6k |
| Alyeska Investment Group, L.P. 0.68% of their portfolio | 2.7m $241.1m | Added +509.6k |
| Capital World Investors 0.03% of their portfolio | 2.7m $235.7m | Reduced -348.6k |
| Brookfield Corp /ON/ 0.25% of their portfolio | 2.3m $204.1m | Added +54.2k |
| Bank of New York Mellon Corp 0.03% of their portfolio | 2.1m $187.4m | Reduced -99.1k |
| SEI INVESTMENTS CO 0.18% of their portfolio | 2.0m $180.6m | Added +276.1k |
| Amundi 0.05% of their portfolio | 1.9m $170.5m | Reduced -755.1k |
| MILFORD FUNDS LTD 3.31% of their portfolio | 1.9m $168.8m | First filing |
| Russell Investments Group, Ltd. 0.18% of their portfolio | 1.8m $161.6m | Added +85.7k |
| Magellan Asset Management Ltd 1.93% of their portfolio | 1.8m $159.1m | Added +396.1k |
| NOMURA ASSET MANAGEMENT INTERNATIONAL INC. 0.19% of their portfolio | 1.4m $127.5m | First filing |
| Thrivent Financial for Lutherans 0.23% of their portfolio | 1.4m $127.3m | Reduced -34.6k |
| ANTIPODES PARTNERS Ltd 2.66% of their portfolio | 1.4m $126.6m | Added +163.0k |
| GOLDMAN SACHS GROUP INC 0.02% of their portfolio | 1.4m $125.0m | Reduced -1.3m |
| Man Group plc 0.23% of their portfolio | 1.4m $122.8m | Reduced -220.2k |
| BARCLAYS PLC 0.04% of their portfolio | 1.2m $111.0m | Reduced -101.5k |
| LONDON CO OF VIRGINIA 0.63% of their portfolio | 1.2m $109.1m | Reduced -1.6m |
| Elliott Investment Management L.P. 0.75% of their portfolio | 1.2m $108.9m | Unchanged |
| Swiss National Bank 0.06% of their portfolio | 1.2m $106.0m | Reduced -61.9k |
| DUFF & PHELPS INVESTMENT MANAGEMENT CO 1.20% of their portfolio | 1.2m $106.0m | Reduced -1.4k |
| Woodline Partners LP 0.40% of their portfolio | 1.2m $104.2m | Added +175.6k |
| California Public Employees Retirement System 0.06% of their portfolio | 1.1m $98.7m | Reduced -234.7k |
| Cullen Capital Management, LLC 1.04% of their portfolio | 1.1m $94.8m | Reduced -65.4k |
| Aberdeen Group plc 0.14% of their portfolio | 1.1m $93.6m | Added +128.2k |
| Ilex Capital Partners (UK) LLP 2.43% of their portfolio | 969.2k $86.1m | Added +684.0k |
| COMMONWEALTH OF PENNSYLVANIA PUBLIC SCHOOL EMPLS RETRMT SYS 0.43% of their portfolio | 952.0k $84.6m | Added +52.7k |
| ENVESTNET ASSET MANAGEMENT INC 0.02% of their portfolio | 945.9k $84.1m | Reduced -74.5k |
| BNP PARIBAS FINANCIAL MARKETS 0.05% of their portfolio | 929.5k $82.6m | Reduced -8.2k |
| Mitsubishi UFJ Asset Management Co., Ltd. 0.06% of their portfolio | 916.4k $81.3m | Added +43.3k |
| RAYMOND JAMES FINANCIAL INC 0.02% of their portfolio | 901.2k $80.1m | Added +64.8k |
| Sumitomo Mitsui Trust Group, Inc. 0.05% of their portfolio | 890.5k $79.1m | Reduced -39.9k |
| RHUMBLINE ADVISERS 0.06% of their portfolio | 884.3k $78.6m | Reduced -17.1k |
| WELLS FARGO & COMPANY/MN 0.02% of their portfolio | 873.2k $77.6m | Reduced -12.2k |
| Capital International Investors 0.01% of their portfolio | 809.2k $71.9m | Added +27.1k |
| National Pension Service 0.05% of their portfolio | 755.8k $67.2m | Added +99.0k |
| Munich Reinsurance Co Stock Corp in Munich 1.62% of their portfolio | 747.8k $66.6m | Added +29.3k |
| CALIFORNIA STATE TEACHERS RETIREMENT SYSTEM 0.06% of their portfolio | 730.7k $64.9m | Added +2.5k |
| CBRE INVESTMENT MANAGEMENT LISTED REAL ASSETS LLC 0.93% of their portfolio | 709.6k $63.1m | Unchanged |
| MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. 0.09% of their portfolio | 706.1k $62.8m | Added +219.2k |
| Retirement Systems of Alabama 0.20% of their portfolio | 701.0k $62.3m | Reduced -4.7k |
| GRS Advisors, LLC 5.53% of their portfolio | 693.0k $61.6m | Reduced -601.8k |
| Robeco Institutional Asset Management B.V. 0.09% of their portfolio | 692.7k $61.6m | Added +185.4k |
| Universal- Beteiligungs- und Servicegesellschaft mbH 0.10% of their portfolio | 672.9k $60.1m | Added +60.5k |
| SNYDER CAPITAL MANAGEMENT L P 1.07% of their portfolio | 646.8k $57.5m | Added +47.1k |
| CANADA LIFE ASSURANCE Co 0.10% of their portfolio | 632.3k $56.2m | Reduced -71.8k |
| Connor, Clark & Lunn Investment Management Ltd. 0.14% of their portfolio | 621.1k $55.2m | Added +576.9k |
| Eurizon Capital SGR S.p.A. 0.17% of their portfolio | 620.8k $55.2m | First filing |
| Ensign Peak Advisors, Inc 0.10% of their portfolio | 611.2k $54.3m | Reduced -24.0k |
| BANK OF MONTREAL /CAN/ 0.02% of their portfolio | 610.6k $54.3m | Reduced -73.5k |
| ALLIANCEBERNSTEIN L.P. 0.02% of their portfolio | 567.6k $50.4m | Reduced -21.1k |
| RENAISSANCE TECHNOLOGIES LLC 0.08% of their portfolio | 565.3k $50.2m | Added +239.2k |
| CITIGROUP INC 0.03% of their portfolio | 557.0k $49.5m | Reduced -108.2k |
| AMERIPRISE FINANCIAL INC 0.01% of their portfolio | 546.0k $48.6m | Reduced -36.3k |
| UniSuper Management Pty Ltd 0.28% of their portfolio | 517.2k $46.0m | Reduced -832 |
| Homestead Advisers Corp 1.21% of their portfolio | 514.4k $45.7m | Reduced -71.4k |
| PRUDENTIAL FINANCIAL INC 0.05% of their portfolio | 504.8k $44.9m | Reduced -117.5k |
| ZACKS INVESTMENT MANAGEMENT 0.34% of their portfolio | 484.4k $43.1m | Added +190.2k |
| ING GROEP NV 0.24% of their portfolio | 441.3k $39.2m | Reduced -17 |
| LPL Financial LLC 0.01% of their portfolio | 434.0k $38.6m | Reduced -14.5k |
| Maryland State Retirement & Pension System 0.79% of their portfolio | 432.2k $38.4m | Added +7.0k |
| Ninety One UK Ltd 0.08% of their portfolio | 409.9k $36.4m | Reduced -436.3k |
| AMERICAN CENTURY COMPANIES INC 0.02% of their portfolio | 403.0k $35.8m | Added +31.5k |
| AVIVA PLC 0.06% of their portfolio | 401.5k $35.7m | Added +19.5k |
| STATE BOARD OF ADMINISTRATION OF FLORIDA RETIREMENT SYSTEM 0.06% of their portfolio | 393.7k $35.0m | Reduced -8.6k |
| ADAGE CAPITAL PARTNERS GP, L.L.C. 0.05% of their portfolio | 393.2k $34.9m | Reduced -28.3k |
| ANCHOR CAPITAL ADVISORS LLC 1.00% of their portfolio | 390.1k $34.7m | Reduced -58.3k |
| DZ BANK AG Deutsche Zentral Genossenschafts Bank, Frankfurt am Main 0.03% of their portfolio | 389.5k $34.6m | Added +158.6k |
| Korea Investment CORP 0.07% of their portfolio | 387.1k $34.4m | Reduced -121.3k |
| M&G PLC 0.17% of their portfolio | 382.2k $34.0m | Reduced -176.0k |
| STIFEL FINANCIAL CORP 0.03% of their portfolio | 371.4k $33.0m | Reduced -49.9k |