HOWARD HUGHES HOLDINGS INC HHH
COM · Common Stock · CUSIP 44267T102 · ISIN US44267T1025
Real estate development and management company based in Dallas, Texas
- SectorReal estate
- IndustryReal Estate Investment Trusts
- HeadquartersThe Woodlands, TX
- Founded1913
- Websitehowardhughes.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 ($7.0m this quarter). Holder counts are more reliable. Shares outstanding: 59.4m as of 2025-07-30, 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 ≈ $67.53. Options: 12 managers hold calls ($24.2m notional), 10 hold puts ($38.3m).
Trends to Q2 2025
Institutional holders
Managers reporting a position, each quarter
Numbers
| Quarter | Holders |
|---|---|
| Q3 2022 | 1 |
| Q4 2022 | 0 |
| Q1 2023 | 0 |
| Q2 2023 | 0 |
| Q3 2023 | 209 |
| Q4 2023 | 247 |
| Q1 2024 | 258 |
| Q2 2024 | 267 |
| Q3 2024 | 290 |
| Q4 2024 | 304 |
| Q1 2025 | 297 |
| Q2 2025 | 281 |
Buyers vs sellers
Managers adding to or starting a position, vs cutting or selling out
Numbers
| Quarter | Bought or added | Cut or sold out |
|---|---|---|
| Q4 2022 | 0 | 1 |
| Q4 2023 | 109 | 110 |
| Q1 2024 | 123 | 122 |
| Q2 2024 | 140 | 121 |
| Q3 2024 | 142 | 125 |
| Q4 2024 | 138 | 122 |
| Q1 2025 | 136 | 144 |
| Q2 2025 | 141 | 165 |
Calls vs puts
Options held, notional value, last 4 quarters. P/C = puts ÷ calls
Numbers
| Quarter | Calls | Puts | P/C |
|---|---|---|---|
| Q3 2024 | $22.7m | $9.1m | 0.40 |
| Q4 2024 | $7.8m | $2.6m | 0.33 |
| Q1 2025 | $21.1m | $5.2m | 0.25 |
| Q2 2025 | $24.2m | $38.3m | 1.58 |
Biggest buyers
| WELLS FARGO & COMPANY/MN | Added | +615.2k |
| ROYAL BANK OF CANADA | Added | +434.3k |
| CRCM LP | New | +307.2k |
| Consulta Ltd | New | +300.0k |
| Northern Right Capital Management, L.P. | New | +261.4k |
| LANDMARK INVESTMENT PARTNERS, L.P. | New | +211.3k |
| Long Focus Capital Management, LLC | New | +144.0k |
| PRUDENTIAL FINANCIAL INC | New | +139.7k |
| Candriam S.C.A. | Added | +133.9k |
| RENAISSANCE TECHNOLOGIES LLC | New | +121.1k |
Biggest sellers
| HARRIS ASSOCIATES L P | Reduced | -1.5m |
| Egerton Capital (UK) LLP | Sold out | -1.2m |
| NEW SOUTH CAPITAL MANAGEMENT INC | Sold out | -485.2k |
| DONALD SMITH & CO., INC. | Reduced | -472.3k |
| DENDUR CAPITAL LP | Sold out | -342.5k |
| SOUTHEASTERN ASSET MANAGEMENT INC/TN/ | Sold out | -217.4k |
| VANGUARD GROUP INC | Reduced | -135.8k |
| AQR CAPITAL MANAGEMENT LLC | Reduced | -120.1k |
| MILLENNIUM MANAGEMENT LLC | Reduced | -113.4k |
| ALPINE ASSOCIATES MANAGEMENT INC. | Sold out | -111.0k |
Biggest calls
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | Added | $6.6m98.2k shares |
| JANE STREET GROUP, LLC | Added | $5.0m73.6k shares |
| CITADEL ADVISORS LLC | Added | $3.8m55.9k shares |
| K2 PRINCIPAL FUND, L.P. | New | $3.5m52.0k shares |
| GROUP ONE TRADING LLC | Added | $2.6m39.0k shares |
| SIMPLEX TRADING, LLC | Added | $769.0k11.4k shares |
| JPMORGAN CHASE & CO | New | $540.0k8.0k shares |
| LANDMARK INVESTMENT PARTNERS, L.P. | New | $519.8k7.7k shares |
| WOLVERINE TRADING, LLC | Reduced | $461.2k6.8k shares |
| TUDOR INVESTMENT CORP ET AL | New | $398.2k5.9k shares |
Biggest puts
| WELLS FARGO & COMPANY/MN | New | $15.5m230.2k shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | Added | $9.2m136.6k shares |
| CITADEL ADVISORS LLC | Added | $4.0m59.2k shares |
| JANE STREET GROUP, LLC | Added | $2.6m38.5k shares |
| GROUP ONE TRADING LLC | Added | $2.4m35.9k shares |
| SIMPLEX TRADING, LLC | Added | $2.3m34.6k shares |
| PEAK6 LLC | New | $1.5m22.4k shares |
| WOLVERINE TRADING, LLC | Added | $583.3k8.6k shares |
| WOLVERINE ASSET MANAGEMENT LLC | New | $54.0k800 shares |
| CONCOURSE FINANCIAL GROUP SECURITIES, INC. | Unchanged | $00 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 |
|---|---|
Pershing Square Capital Management, L.P.
13D · may seek influence
no change · filed 2026-06-08
Stated purposeItem 4 of the Schedule 13D is hereby amended and supplemented by adding the following information: On June 4, 2026 (the "Closing Date"), Howard Hughes Insurance Holdings, LLC, a Delaware limited liability company ("Buyer") and wholly-owned subsidiary of the Issuer completed its previously announced acquisition (the "Vantage Transaction") of Vantage Group Holdings, Ltd., a Bermuda exempted company with liability limited by shares (such entity, "Vantage", and the completion of such transaction, the "Closing"), pursuant to that certain Purchase and Sale Agreement (the "Purchase Agreement"), dated as of December 17, 2025, by and among Buyer, Vantage, Carlyle Partners VII Cayman Holdings V, L.P., a Cayman Islands exempted limited partnership (the "Carlyle Investor"), H&F Vantage Aggregator, L.… Full filing |
46.7% |
| DIMENSIONAL FUND ADVISORS LP 13G · institution new · filed 2026-10-08 | 5.1% |
Fell to 5% or below in the last year: VANGUARD PORTFOLIO MANAGEMENT LLC (4.4%, 2026-07-31), VANGUARD GROUP INC (0.0%, 2026-03-27)
Insider purchases and sales in Q2 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 |
|---|---|---|---|---|---|
| Q3 2023 | 1 | $17.6m | 1 | $150.0k | — |
| Q4 2023 | 1 | $145.3m | 1 | $30.3k | — |
| Q1 2024 | 0 | — | 4 | $325.3k | — |
| Q2 2024 | 1 | $52.4k | 1 | $40.2k | — |
| Q3 2024 | 1 | $9.8k | 0 | — | — |
| Q4 2024 | 0 | — | 0 | — | — |
| Q1 2025 | 0 | — | 0 | — | — |
| Q2 2025 | 1 | $49.0k | 0 | — | — |
| Date | Insider | Trade | Value |
|---|---|---|---|
| 2025-05-19 | Bustamante Jose Miguel President, Nevada | Bought | $49.0k700 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, Q2 2025
| Manager | Shares | Change |
|---|---|---|
| Pershing Square Capital Management, L.P. 9.27% of their portfolio | 18.9m $1.3bn | Unchanged |
| PERSHING SQUARE INC. 100.00% of their portfolio | 9.0m $607.5m | First filing |
| VANGUARD GROUP INC 0.00% of their portfolio | 4.2m $286.3m | Reduced -135.8k |
| DIMENSIONAL FUND ADVISORS LP 0.04% of their portfolio | 2.5m $167.9m | Reduced -7.9k |
| BlackRock, Inc. 0.00% of their portfolio | 1.5m $101.5m | Reduced -83.6k |
| DONALD SMITH & CO., INC. 1.74% of their portfolio | 1.1m $74.1m | Reduced -472.3k |
| WELLS FARGO & COMPANY/MN 0.01% of their portfolio | 793.4k $53.6m | Added +615.2k |
| AMERICAN CENTURY COMPANIES INC 0.03% of their portfolio | 744.9k $50.3m | Reduced -35.0k |
| River Road Asset Management, LLC 0.53% of their portfolio | 607.7k $41.8m | Reduced -97.7k |
| STATE STREET CORP 0.00% of their portfolio | 578.4k $39.0m | Added +15.8k |
| GEODE CAPITAL MANAGEMENT, LLC 0.00% of their portfolio | 568.0k $38.3m | Added +2.4k |
| Brandywine Global Investment Management, LLC 0.26% of their portfolio | 543.9k $36.7m | Added +1.0k |
| ROYAL BANK OF CANADA 0.00% of their portfolio | 533.6k $36.0m | Added +434.3k |
| HORIZON KINETICS ASSET MANAGEMENT LLC 0.33% of their portfolio | 416.4k $28.1m | Reduced -20.6k |
| NORGES BANK 0.00% of their portfolio | 384.5k $26.0m | Reduced -32.8k |
| MORGAN STANLEY 0.00% of their portfolio | 359.1k $24.2m | Added +7.3k |
| CRCM LP 6.16% of their portfolio | 307.2k $20.7m | New |
| Consulta Ltd 1.29% of their portfolio | 300.0k $20.2m | New |
| FIRST MANHATTAN CO. LLC. 0.05% of their portfolio | 287.5k $19.4m | Added +19.6k |
| BANK OF AMERICA CORP /DE/ 0.00% of their portfolio | 287.5k $19.4m | Reduced -16.3k |
| Russell Investments Group, Ltd. 0.02% of their portfolio | 280.8k $19.0m | Reduced -17.0k |
| Northern Right Capital Management, L.P. 6.04% of their portfolio | 261.4k $17.6m | New |
| UBS Group AG 0.00% of their portfolio | 260.9k $17.6m | Added +24.0k |
| NORTHERN TRUST CORP 0.00% of their portfolio | 260.5k $17.6m | Added +23.3k |
| Gotham Asset Management, LLC 0.10% of their portfolio | 256.5k $17.3m | Added +15.1k |
| Alberta Investment Management Corp 0.13% of their portfolio | 249.0k $16.8m | Unchanged |
| Impax Asset Management Group plc 0.09% of their portfolio | 235.0k $15.9m | Reduced -27.7k |
| Amundi 0.01% of their portfolio | 229.8k $15.9m | Reduced -65.0k |
| CHARLES SCHWAB INVESTMENT MANAGEMENT INC 0.00% of their portfolio | 228.2k $15.4m | Reduced -25.1k |
| VICTORY CAPITAL MANAGEMENT INC 0.01% of their portfolio | 219.0k $14.8m | Reduced -81.9k |
| LANDMARK INVESTMENT PARTNERS, L.P. 6.39% of their portfolio | 211.3k $14.3m | New |
| JACOBS LEVY EQUITY MANAGEMENT, INC 0.05% of their portfolio | 204.3k $13.8m | Reduced -46.5k |
| JPMORGAN CHASE & CO 0.00% of their portfolio | 188.0k $12.7m | Reduced -77.6k |
| State of New Jersey Common Pension Fund D 0.04% of their portfolio | 171.1k $11.5m | Added +1.9k |
| Rule One Partners, LLC 9.88% of their portfolio | 162.0k $10.9m | Unchanged |
| Balyasny Asset Management L.P. 0.02% of their portfolio | 158.0k $10.7m | Added +60.2k |
| PROSPECTOR PARTNERS LLC 1.23% of their portfolio | 156.4k $10.6m | Reduced -5.6k |
| Motley Fool Wealth Management, LLC 0.63% of their portfolio | 154.6k $10.4m | Reduced -18.0k |
| Candriam S.C.A. 0.06% of their portfolio | 151.9k $10.3m | Added +133.9k |
| UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC 0.00% of their portfolio | 145.8k $9.8m | Added +38.6k |
| Long Focus Capital Management, LLC 0.63% of their portfolio | 144.0k $9.7m | New |
| PRUDENTIAL FINANCIAL INC 0.01% of their portfolio | 139.7k $9.4m | New |
| Ancora Advisors LLC 0.18% of their portfolio | 127.0k $8.6m | Reduced -26.4k |
| HARRIS ASSOCIATES L P 0.01% of their portfolio | 124.6k $8.4m | Reduced -1.5m |
| RENAISSANCE TECHNOLOGIES LLC 0.01% of their portfolio | 121.1k $8.2m | New |
| AMERIPRISE FINANCIAL INC 0.00% of their portfolio | 112.3k $7.6m | Added +100.0k |
| INGALLS & SNYDER LLC 0.27% of their portfolio | 110.3k $7.4m | Reduced -2.8k |
| GOLDMAN SACHS GROUP INC 0.00% of their portfolio | 105.5k $7.1m | Reduced -13.1k |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP 0.01% of their portfolio | 104.2k $7.0m | Added +40.4k |
| TUDOR INVESTMENT CORP ET AL 0.05% of their portfolio | 99.7k $6.7m | Added +14.6k |
| Bank of New York Mellon Corp 0.00% of their portfolio | 97.8k $6.6m | Reduced -11.3k |
| Bernzott Capital Advisors 3.28% of their portfolio | 95.2k $6.4m | Reduced -2.7k |
| GREAT LAKES ADVISORS, LLC 0.05% of their portfolio | 85.8k $5.8m | New |
| Treasurer of the State of North Carolina 0.02% of their portfolio | 82.7k $5.6m | Added +49.3k |
| Northside Capital Management, LLC 0.41% of their portfolio | 78.8k $5.3m | New |
| Invesco Ltd. 0.00% of their portfolio | 78.5k $5.3m | Reduced -5.0k |
| BARCLAYS PLC 0.00% of their portfolio | 77.8k $5.3m | Added +70.2k |
| ZACKS INVESTMENT MANAGEMENT 0.04% of their portfolio | 72.4k $4.9m | Reduced -823 |
| CAPITAL FUND MANAGEMENT S.A. 0.05% of their portfolio | 71.4k $4.8m | Added +29.5k |
| Swiss National Bank 0.00% of their portfolio | 62.4k $4.2m | Reduced -800 |
| STATE OF WISCONSIN INVESTMENT BOARD 0.01% of their portfolio | 62.1k $4.2m | Reduced -227 |
| CANADA PENSION PLAN INVESTMENT BOARD 0.00% of their portfolio | 59.5k $4.0m | Added +35.1k |
| FIRST TRUST ADVISORS LP 0.00% of their portfolio | 58.9k $4.0m | Added +29.9k |
| Nuveen, LLC 0.00% of their portfolio | 58.6k $4.0m | Reduced -17.4k |
| PIN OAK INVESTMENT ADVISORS INC 3.64% of their portfolio | 58.0k $4.3m | Added +5.3k |
| LPL Financial LLC 0.00% of their portfolio | 54.2k $3.7m | Added +3.3k |
| Concorde Financial Corp 2.15% of their portfolio | 53.9k $3.6m | Reduced -183 |
| Legal & General Group Plc 0.00% of their portfolio | 53.8k $3.6m | Added +21.8k |
| IFC Advisors LLC 0.67% of their portfolio | 52.8k $3.6m | New |
| MILLENNIUM MANAGEMENT LLC 0.00% of their portfolio | 52.6k $3.5m | Reduced -113.4k |
| Uniplan Investment Counsel, Inc. 0.32% of their portfolio | 46.6k $3.1m | Reduced -1.4k |
| HRT FINANCIAL LP 0.02% of their portfolio | 44.5k $3.0m | Added +26.5k |
| MARSHALL WACE, LLP 0.00% of their portfolio | 41.9k $2.8m | Added +28.0k |
| ALLIANCEBERNSTEIN L.P. 0.00% of their portfolio | 41.7k $2.8m | Added +8.4k |
| 683 Capital Management, LLC 0.27% of their portfolio | 40.0k $2.7m | Reduced -80.0k |
| INTREPID CAPITAL MANAGEMENT INC 1.07% of their portfolio | 38.9k $2.6m | Added +1.7k |
| DEUTSCHE BANK AG\ 0.00% of their portfolio | 37.3k $2.5m | Added +359 |
| RAYMOND JAMES FINANCIAL INC 0.00% of their portfolio | 37.1k $2.5m | Reduced -2.7k |
| STATE BOARD OF ADMINISTRATION OF FLORIDA RETIREMENT SYSTEM 0.00% of their portfolio | 33.1k $2.2m | Added +160 |
| Sowell Financial Services LLC 0.09% of their portfolio | 31.4k $2.1m | New |
| Man Group plc 0.00% of their portfolio | 31.0k $2.1m | New |
| UniSuper Management Pty Ltd 0.01% of their portfolio | 30.9k $2.1m | Added +25.0k |
| CALIFORNIA STATE TEACHERS RETIREMENT SYSTEM 0.00% of their portfolio | 30.1k $2.0m | Added +217 |
| Sequoia Financial Advisors, LLC 0.01% of their portfolio | 29.3k $2.0m | Reduced -758 |
| ING GROEP NV 0.01% of their portfolio | 29.2k $2.0m | New |
| INDEPENDENT INVESTORS INC 0.43% of their portfolio | 28.9k $2.0m | Reduced -75 |
| RHUMBLINE ADVISERS 0.00% of their portfolio | 28.6k $1.9m | Reduced -1.8k |
| CITIGROUP INC 0.00% of their portfolio | 28.5k $1.9m | Added +12.5k |
| AQR CAPITAL MANAGEMENT LLC 0.00% of their portfolio | 27.6k $1.9m | Reduced -120.1k |
| ExodusPoint Capital Management, LP 0.02% of their portfolio | 27.3k $1.8m | New |
| Sage Investment Counsel LLC 2.10% of their portfolio | 26.8k $1.8m | Added +7.6k |
| STRS OHIO 0.01% of their portfolio | 25.4k $1.7m | Reduced -3.4k |
| SEI INVESTMENTS CO 0.00% of their portfolio | 25.4k $1.7m | Added +405 |
| Qube Research & Technologies Ltd 0.00% of their portfolio | 23.7k $1.6m | New |
| BNP PARIBAS FINANCIAL MARKETS 0.00% of their portfolio | 23.1k $1.6m | Added +21.0k |
| NATIONAL BANK OF CANADA /FI/ 0.00% of their portfolio | 23.0k $1.6m | Added +22.5k |
| HEALTHCARE OF ONTARIO PENSION PLAN TRUST FUND 0.00% of their portfolio | 23.0k $1.6m | Unchanged |
| Squarepoint Ops LLC 0.00% of their portfolio | 23.0k $1.5m | Reduced -45.7k |
| Engineers Gate Manager LP 0.02% of their portfolio | 22.8k $1.5m | Reduced -9.4k |
| OP Asset Management Ltd 0.02% of their portfolio | 22.6k $1.5m | Added +7.5k |