Bill Gates’ 2022 Portfolio: 4 Stocks to Sell

In this article, we discuss Bill Gates’ 2022 portfolio and 4 stocks to sell. If you want to read our detailed analysis of Gates’ hedge fund performance, stock selection and history, go directly to Bill Gates’ 2022 Portfolio: 7 Stocks to Sell.

4. Crown Castle International Corp. (NYSE:CCI)

Number of Hedge Fund Holders: 38

Reduction In Stake: 69%

Crown Castle International Corp. (NYSE:CCI) is a real estate investment trust (REIT) which operates and leases wireless communication infrastructure such as cell towers and fiber cables across the United States. According to his 13F portfolio for the first quarter, Gates’ owned 1.42 million shares of the firm at a value of $262.1 million. This is down from 4.56 million shares a quarter ago.

On April 22, analyst Ric Prentiss of research firm Raymond James maintained an ‘Outperform’ rating on Crown Castle International Corp. (NYSE:CCI) shares, and raised the price target to $206 from $184. He sees US carriers becoming more active on cell towers through 2022 and 2023, and sees strong growth in tower infrastructure for the next several years.

Billionaire Ken Fisher increased his stake in Crown Castle International Corp. (NYSE:CCI) by 6% in the first quarter of 2022, making his fund Fisher Asset Management the firm’s largest shareholder with a $509 million stake.

In its Q1 2022 investor letter, investment firm ClearBridge Investments talked about Crown Castle International Corp. (NYSE:CCI). Here is what the fund said:

“U.S. communications company Crown Castle International (NYSE:CCI) was the largest detractor from quarterly performance. Crown Castle is the leading independent owner and operator of wireless communications infrastructure in the U.S. with a portfolio of approximately 40,000 towers. The stock underperformed as, driven by rising interest rates, investors rotated away from defensive into more value-oriented sectors. Communications infrastructure remains attractive, however, as companies continue to deploy greater capital spend to support the strong tailwinds from 5G.”