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 ($5.0m this quarter). Holder counts are more reliable. Shares outstanding: 59.4m as of 2025-11-03, 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 ≈ $82.18. Options: 13 managers hold calls ($63.6m notional), 9 hold puts ($67.7m).
Trends to Q3 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 |
| Q3 2025 | 299 |
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 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 |
| Q3 2025 | 145 | 136 |
Calls vs puts
Options held, notional value, last 4 quarters. P/C = puts ÷ calls
Numbers
| Quarter | Calls | Puts | P/C |
|---|---|---|---|
| Q4 2024 | $7.8m | $2.6m | 0.33 |
| Q1 2025 | $21.1m | $5.2m | 0.25 |
| Q2 2025 | $24.2m | $38.3m | 1.58 |
| Q3 2025 | $63.6m | $67.7m | 1.06 |
Biggest buyers
| Russell Investments Group, Ltd. | Added | +276.1k |
| CRCM LP | Added | +253.5k |
| JANUS HENDERSON GROUP PLC | Added | +215.4k |
| RIVERNORTH CAPITAL MANAGEMENT, LLC | New | +133.7k |
| CITADEL ADVISORS LLC | Added | +116.2k |
| TWO SIGMA INVESTMENTS, LP | New | +93.2k |
| LOS ANGELES CAPITAL MANAGEMENT LLC | New | +81.3k |
| Gotham Asset Management, LLC | Added | +80.7k |
| JPMORGAN CHASE & CO | Added | +62.4k |
| HSBC HOLDINGS PLC | New | +60.9k |
Biggest sellers
| ROYAL BANK OF CANADA | Reduced | -249.1k |
| JACOBS LEVY EQUITY MANAGEMENT, INC | Reduced | -175.9k |
| Balyasny Asset Management L.P. | Sold out | -158.0k |
| Candriam S.C.A. | Reduced | -137.2k |
| Impax Asset Management Group plc | Reduced | -125.0k |
| PRUDENTIAL FINANCIAL INC | Reduced | -123.7k |
| HORIZON KINETICS ASSET MANAGEMENT LLC | Reduced | -110.1k |
| UBS Group AG | Reduced | -95.7k |
| GREAT LAKES ADVISORS, LLC | Sold out | -85.8k |
| VICTORY CAPITAL MANAGEMENT INC | Reduced | -84.4k |
Biggest calls
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | Added | $17.7m215.9k shares |
| CITADEL ADVISORS LLC | Added | $13.3m162.4k shares |
| K2 PRINCIPAL FUND, L.P. | Added | $10.7m130.0k shares |
| GROUP ONE TRADING LLC | Added | $5.5m66.4k shares |
| LANDMARK INVESTMENT PARTNERS, L.P. | Added | $5.1m61.5k shares |
| JANE STREET GROUP, LLC | Reduced | $4.0m48.8k shares |
| WOLVERINE TRADING, LLC | Added | $2.6m31.9k shares |
| SIMPLEX TRADING, LLC | Added | $1.8m22.5k shares |
| JPMORGAN CHASE & CO | Added | $1.3m16.0k shares |
| PEAK6 LLC | New | $1.1m12.8k shares |
Biggest puts
| WELLS FARGO & COMPANY/MN | Added | $21.5m261.1k shares |
| WOLVERINE TRADING, LLC | Added | $17.5m214.4k shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | Added | $12.3m149.3k shares |
| CITADEL ADVISORS LLC | Added | $7.7m94.1k shares |
| GROUP ONE TRADING LLC | Added | $3.9m47.2k shares |
| JANE STREET GROUP, LLC | Added | $3.5m42.8k shares |
| TUDOR INVESTMENT CORP ET AL | New | $879.2k10.7k shares |
| SIMPLEX TRADING, LLC | Reduced | $361.0k4.4k shares |
| WOLVERINE ASSET MANAGEMENT LLC | Unchanged | $65.7k800 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 Q3 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 |
|---|---|---|---|---|---|
| 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 | — | — |
| Q3 2025 | 0 | — | 1 | $87.5k | — |
| Date | Insider | Trade | Value |
|---|---|---|---|
| 2025-09-26 | Williams Anthony Director | Sold | $87.5k1.1k 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, Q3 2025
| Manager | Shares | Change |
|---|---|---|
| Pershing Square Capital Management, L.P. 10.58% of their portfolio | 18.9m $1.5bn | Unchanged |
| PERSHING SQUARE INC. 100.00% of their portfolio | 9.0m $739.5m | Unchanged |
| VANGUARD GROUP INC 0.01% of their portfolio | 4.2m $348.0m | Reduced -6.5k |
| DIMENSIONAL FUND ADVISORS LP 0.04% of their portfolio | 2.5m $205.2m | Added +9.1k |
| BlackRock, Inc. 0.00% of their portfolio | 1.5m $120.3m | Reduced -39.7k |
| DONALD SMITH & CO., INC. 1.78% of their portfolio | 1.1m $89.3m | Reduced -11.5k |
| WELLS FARGO & COMPANY/MN 0.01% of their portfolio | 776.2k $63.8m | Reduced -17.2k |
| AMERICAN CENTURY COMPANIES INC 0.03% of their portfolio | 747.5k $61.4m | Added +2.6k |
| River Road Asset Management, LLC 0.55% of their portfolio | 602.5k $49.5m | Reduced -5.2k |
| GEODE CAPITAL MANAGEMENT, LLC 0.00% of their portfolio | 590.0k $48.5m | Added +22.1k |
| CRCM LP 13.33% of their portfolio | 560.7k $46.1m | Added +253.5k |
| STATE STREET CORP 0.00% of their portfolio | 559.4k $46.0m | Reduced -19.0k |
| Russell Investments Group, Ltd. 0.05% of their portfolio | 556.9k $45.8m | Added +276.1k |
| Brandywine Global Investment Management, LLC 0.30% of their portfolio | 532.7k $43.8m | Reduced -11.2k |
| MORGAN STANLEY 0.00% of their portfolio | 406.2k $33.4m | Added +47.1k |
| Gotham Asset Management, LLC 0.12% of their portfolio | 337.2k $27.7m | Added +80.7k |
| HORIZON KINETICS ASSET MANAGEMENT LLC 0.31% of their portfolio | 306.2k $25.2m | Reduced -110.1k |
| Northern Right Capital Management, L.P. 7.69% of their portfolio | 302.4k $24.9m | Added +41.1k |
| Consulta Ltd 1.40% of their portfolio | 300.0k $24.7m | Unchanged |
| BANK OF AMERICA CORP /DE/ 0.00% of their portfolio | 297.1k $24.4m | Added +9.6k |
| ROYAL BANK OF CANADA 0.00% of their portfolio | 284.5k $23.4m | Reduced -249.1k |
| FIRST MANHATTAN CO. LLC. 0.06% of their portfolio | 282.5k $23.2m | Reduced -5.1k |
| Amundi 0.01% of their portfolio | 277.6k $23.6m | Added +47.8k |
| JPMORGAN CHASE & CO 0.00% of their portfolio | 250.4k $20.6m | Added +62.4k |
| Alberta Investment Management Corp 0.15% of their portfolio | 249.0k $20.5m | Unchanged |
| NORTHERN TRUST CORP 0.00% of their portfolio | 235.1k $19.3m | Reduced -25.4k |
| JANUS HENDERSON GROUP PLC 0.01% of their portfolio | 230.1k $18.9m | Added +215.4k |
| CHARLES SCHWAB INVESTMENT MANAGEMENT INC 0.00% of their portfolio | 209.9k $17.3m | Reduced -18.2k |
| Ancora Advisors LLC 0.30% of their portfolio | 182.3k $15.0m | Added +55.3k |
| State of New Jersey Common Pension Fund D 0.05% of their portfolio | 172.3k $14.2m | Added +1.2k |
| UBS Group AG 0.00% of their portfolio | 165.2k $13.6m | Reduced -95.7k |
| Rule One Partners, LLC 11.79% of their portfolio | 162.0k $13.2m | Unchanged |
| LANDMARK INVESTMENT PARTNERS, L.P. 10.21% of their portfolio | 151.7k $12.5m | Reduced -59.6k |
| PROSPECTOR PARTNERS LLC 1.50% of their portfolio | 151.6k $12.5m | Reduced -4.9k |
| Long Focus Capital Management, LLC 0.68% of their portfolio | 144.0k $11.8m | Unchanged |
| Motley Fool Wealth Management, LLC 0.77% of their portfolio | 138.2k $11.4m | Reduced -16.3k |
| VICTORY CAPITAL MANAGEMENT INC 0.01% of their portfolio | 134.7k $11.1m | Reduced -84.4k |
| RENAISSANCE TECHNOLOGIES LLC 0.01% of their portfolio | 134.4k $11.0m | Added +13.3k |
| RIVERNORTH CAPITAL MANAGEMENT, LLC 0.63% of their portfolio | 133.7k $11.0m | New |
| TUDOR INVESTMENT CORP ET AL 0.07% of their portfolio | 133.5k $11.0m | Added +33.7k |
| CITADEL ADVISORS LLC 0.01% of their portfolio | 123.3k $10.1m | Added +116.2k |
| Impax Asset Management Group plc 0.05% of their portfolio | 110.0k $9.0m | Reduced -125.0k |
| UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC 0.00% of their portfolio | 108.9k $8.9m | Reduced -36.9k |
| ZACKS INVESTMENT MANAGEMENT 0.07% of their portfolio | 104.1k $8.6m | Added +31.7k |
| AMERIPRISE FINANCIAL INC 0.00% of their portfolio | 102.8k $8.4m | Reduced -9.5k |
| GOLDMAN SACHS GROUP INC 0.00% of their portfolio | 102.7k $8.4m | Reduced -2.7k |
| Bernzott Capital Advisors 3.68% of their portfolio | 94.9k $7.8m | Reduced -303 |
| TWO SIGMA INVESTMENTS, LP 0.01% of their portfolio | 93.2k $7.7m | New |
| Bank of New York Mellon Corp 0.00% of their portfolio | 92.5k $7.6m | Reduced -5.3k |
| INGALLS & SNYDER LLC 0.24% of their portfolio | 88.5k $7.3m | Reduced -21.8k |
| AQR CAPITAL MANAGEMENT LLC 0.00% of their portfolio | 84.3k $6.9m | Added +56.6k |
| HRT FINANCIAL LP 0.03% of their portfolio | 83.5k $6.9m | Added +39.0k |
| Treasurer of the State of North Carolina 0.02% of their portfolio | 82.1k $6.7m | Reduced -598 |
| MILLENNIUM MANAGEMENT LLC 0.01% of their portfolio | 81.5k $6.7m | Added +28.9k |
| LOS ANGELES CAPITAL MANAGEMENT LLC 0.02% of their portfolio | 81.3k $6.7m | New |
| Northside Capital Management, LLC 0.58% of their portfolio | 77.8k $6.4m | Reduced -1.0k |
| BNP PARIBAS FINANCIAL MARKETS 0.00% of their portfolio | 76.7k $6.3m | Added +53.5k |
| Invesco Ltd. 0.00% of their portfolio | 75.0k $6.2m | Reduced -3.5k |
| Sowell Financial Services LLC 0.22% of their portfolio | 70.6k $5.8m | Added +39.2k |
| RAYMOND JAMES FINANCIAL INC 0.00% of their portfolio | 69.5k $5.7m | Added +32.4k |
| CAPITAL FUND MANAGEMENT S.A. 0.06% of their portfolio | 67.5k $5.5m | Reduced -3.9k |
| Swiss National Bank 0.00% of their portfolio | 63.3k $5.2m | Added +900 |
| PIN OAK INVESTMENT ADVISORS INC 3.64% of their portfolio | 62.1k $5.1m | Added +4.0k |
| HSBC HOLDINGS PLC 0.00% of their portfolio | 60.9k $5.0m | New |
| BARCLAYS PLC 0.00% of their portfolio | 60.8k $5.0m | Reduced -17.0k |
| STATE OF WISCONSIN INVESTMENT BOARD 0.01% of their portfolio | 59.2k $4.9m | Reduced -2.9k |
| HARRIS ASSOCIATES L P 0.01% of their portfolio | 58.8k $4.8m | Reduced -65.8k |
| Nuveen, LLC 0.00% of their portfolio | 58.6k $4.8m | Unchanged |
| LPL Financial LLC 0.00% of their portfolio | 53.5k $4.4m | Reduced -693 |
| Legal & General Group Plc 0.00% of their portfolio | 52.4k $4.3m | Reduced -1.4k |
| Concorde Financial Corp 2.37% of their portfolio | 52.0k $4.3m | Reduced -1.8k |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP 0.01% of their portfolio | 51.0k $4.2m | Reduced -53.2k |
| IFC Advisors LLC 0.76% of their portfolio | 50.4k $4.1m | Reduced -2.4k |
| Tidal Investments LLC 0.02% of their portfolio | 49.3k $4.0m | Added +41.3k |
| FIRST TRUST ADVISORS LP 0.00% of their portfolio | 46.9k $3.9m | Reduced -11.9k |
| Uniplan Investment Counsel, Inc. 0.37% of their portfolio | 46.5k $3.8m | Reduced -102 |
| JANE STREET GROUP, LLC 0.00% of their portfolio | 41.0k $3.4m | New |
| INTREPID CAPITAL MANAGEMENT INC 1.28% of their portfolio | 39.7k $3.3m | Added +707 |
| 683 Capital Management, LLC 0.28% of their portfolio | 38.0k $3.1m | Reduced -2.0k |
| DEUTSCHE BANK AG\ 0.00% of their portfolio | 37.6k $3.1m | Added +329 |
| ALLIANCEBERNSTEIN L.P. 0.00% of their portfolio | 37.3k $3.1m | Reduced -4.4k |
| AlphaQuest LLC 0.18% of their portfolio | 34.1k $2.8m | Added +15.2k |
| CITIGROUP INC 0.00% of their portfolio | 31.3k $2.6m | Added +2.9k |
| STATE BOARD OF ADMINISTRATION OF FLORIDA RETIREMENT SYSTEM 0.00% of their portfolio | 31.2k $2.6m | Reduced -1.9k |
| CALIFORNIA STATE TEACHERS RETIREMENT SYSTEM 0.00% of their portfolio | 30.1k $2.5m | Added +2 |
| INDEPENDENT INVESTORS INC 0.46% of their portfolio | 28.9k $2.4m | Unchanged |
| JACOBS LEVY EQUITY MANAGEMENT, INC 0.01% of their portfolio | 28.4k $2.3m | Reduced -175.9k |
| RHUMBLINE ADVISERS 0.00% of their portfolio | 28.0k $2.3m | Reduced -564 |
| Sequoia Financial Advisors, LLC 0.01% of their portfolio | 27.0k $2.2m | Reduced -2.3k |
| Proficio Capital Partners LLC 0.15% of their portfolio | 26.9k $2.2m | Added +5.2k |
| SG Americas Securities, LLC 0.01% of their portfolio | 25.7k $2.1m | Added +23.7k |
| Sage Investment Counsel LLC 2.31% of their portfolio | 25.4k $2.1m | Reduced -1.4k |
| CANADA PENSION PLAN INVESTMENT BOARD 0.00% of their portfolio | 24.4k $2.0m | Reduced -35.1k |
| POLEN CAPITAL MANAGEMENT LLC 0.01% of their portfolio | 23.8k $2.0m | New |
| Edgestream Partners, L.P. 0.06% of their portfolio | 23.4k $1.9m | New |
| SEI INVESTMENTS CO 0.00% of their portfolio | 22.7k $1.9m | Reduced -2.7k |
| PRICE T ROWE ASSOCIATES INC /MD/ 0.00% of their portfolio | 21.6k $1.8m | Added +1.3k |
| Y-Intercept (Hong Kong) Ltd 0.04% of their portfolio | 21.1k $1.7m | Added +7.7k |
| TWO SIGMA ADVISERS, LP 0.00% of their portfolio | 20.7k $1.7m | New |
| CAXTON ASSOCIATES LLP 0.05% of their portfolio | 20.1k $1.7m | New |