Pershing Square Capital Management, L.P. — HOWARD HUGHES HOLDINGS INC HHH: Quarterly 13F Position History
Pershing Square Capital Management, L.P. has reported HOWARD HUGHES HOLDINGS INC (HHH) on 11 13F-HR filings in Pactolio's tracked window, first appearing in Q3 2023. As of Q1 2026, the position is sized at 18,852,064 shares ($1.19B market value, 8.70% of the equity book).
- 18,852,064Shares Held (Latest Filing)
- $1.19BReported Market Value (Latest Filing)
- 8.70%Portfolio Weight (% of 13F Equity Book)
- 0Quarter-over-Quarter Share Change
- -$311.2MQuarter-over-Quarter Value Change
- 18,852,064Peak Reported Shares (Historical)
Quarterly 13F-HR Disclosure History Source: SEC 13F-HR filings, 11 quarter s
| Quarter | Shares | QoQ Share Change | Share Change (%) | Market Value | Weight | Implied Price |
|---|---|---|---|---|---|---|
| Q1 2026 | 18,852,064 | 0 | — | $1.19B | 8.70% | $63.26 |
| Q4 2025 | 18,852,064 | 0 | — | $1.50B | 9.69% | $79.77 |
| Q3 2025 | 18,852,064 | 0 | — | $1.55B | 10.58% | $82.17 |
| Q2 2025 | 18,852,064 | 0 | — | $1.27B | 9.27% | $67.50 |
| Q1 2025 | 18,852,064 | 0 | — | $1.40B | 11.71% | $74.08 |
| Q4 2024 | 18,852,064 | 0 | — | $1.45B | 11.50% | $76.92 |
| Q3 2024 | 18,852,064 | 0 | — | $1.46B | 11.30% | $77.43 |
| Q2 2024 | 18,852,064 | 0 | — | $1.22B | 11.74% | $64.82 |
| Q1 2024 | 18,852,064 | 0 | — | $1.37B | 12.72% | $72.62 |
| Q4 2023 | 18,852,064 | +2,045,156 | +12.2% | $1.61B | 15.51% | $85.55 |
| Q3 2023 | 16,806,908 | — | — | $1.25B | 11.87% | $74.13 |
Methodology & FAQ
How This Position History Is Sourced
Each row is one SEC Form 13F-HR filing disclosing this position. Share count, market value, and reported quarter are taken verbatim from the filing; portfolio weight is recomputed against the same filing's total reported equity book. Implied price-per-share is market value divided by shares — a quarter-end mark, not the manager's cost basis. See the full methodology document for the normalization rules.
When did Pershing Square Capital Management, L.P. first disclose a HHH position in 13F-HR filings?
Pershing Square Capital Management, L.P. first reported HOWARD HUGHES HOLDINGS INC (HHH) on its 13F-HR filing for the period ending 2023-09-30 (Q3 2023). The position has appeared on 11 reported quarters within Pactolio's tracked window.
What was Pershing Square Capital Management, L.P.'s most recent quarter-over-quarter share-count change in HHH?
Pershing Square Capital Management, L.P. held the same 18,852,064 shares of HHH between Q4 2025 and Q1 2026 — the reported share count was unchanged quarter-over-quarter.
Does the implied price-per-share represent Pershing Square Capital Management, L.P.'s cost basis in HHH?
No. The implied price-per-share column is the 13F-HR reported market value divided by reported share count on the filing date (end of quarter). It is a quarter-end mark, not a cost basis or transaction price. Use it as a sanity check on the value column, not as an indicator of the manager's entry or exit price.