Howard Hughes Holdings (HHH): which funds own it
A 13F shows the portfolio at quarter-end and is filed up to 45 days later: these are not real-time positions and they may have changed.
Sections with a free account
4 concentrated managers hold it with a median weight of 0.7%. 2 officers or directors bought in 6 months.
Who owns Howard Hughes Holdings?
Holders that filed a Schedule 13D or 13G with the SEC for owning more than 5% of the shares: Pershing Square (13D/A filed May 7, 2025), Pershing Square Capital Management (13D/A filed Jun 8, 2026) and Dimensional Fund Advisors (13G filed Oct 8, 2026). As of Jun 30, 2026, the largest holders reported on Form 13F were Pershing Square (27.9 million shares), Dimensional Fund Advisors (2.9 million shares) and Vanguard Portfolio Management (2.6 million shares).
Which institutions hold the most Howard Hughes Holdings shares?
Per Form 13F filings as of Jun 30, 2026:
- 1. Pershing Square: 27.9 million shares
- 2. Dimensional Fund Advisors: 2.9 million shares
- 3. Vanguard Portfolio Management: 2.6 million shares
- 4. BlackRock: 1.6 million shares
- 5. Wells Fargo: 1.5 million shares
- 6. American Century Companies: 1.4 million shares
- 7. Vanguard Capital Management: 1.4 million shares
- 8. Donald Smith: 1.0 million shares
- 9. Long Focus Capital Management: 733,695 shares
- 10. Flat Footed: 620,418 shares
Sources:13D/A by Pershing Square (May 7, 2025) ↗13D/A by Pershing Square Capital Management (Jun 8, 2026) ↗13G by Dimensional Fund Advisors (Oct 8, 2026) ↗All of the company's proxy statements on EDGAR ↗
We hold 13D and 13G filings made since Dec 23, 2024: a holder above 5% that has not filed since then does not appear here.
Howard Hughes Holdings revenue
Howard Hughes Holdings reported annual revenue of $1.47 billion for fiscal year 2025 (year ended December 31, 2025), according to its Form 10-K filed with the SEC (XBRL data).
Well-known investors holding it
Quarter flow (concentrated managers)
Change in managers (4 → 4): 1 opened · 1 exited = 0
Net flow in the quarter: −$25.8M (−360 K shares) · bought $1.6M and sold $27.4MShares concentrated managers added minus those they cut, valued at the 13F quarter-end implied price, not each trade's price. It is a different measure from the change in managers: the two can have opposite signs.
The set of concentrated managers changed between quarters: with the set as it was then, 5 held it last quarter (the chart point); with today's set, 4 (the base for the change).
Concentrated managers holding it
- Pershing Square$2.0 bn10.2%
- Consulta$21.4M0.8%
- Independent Investors$2.0M0.4%
- Regency Capital ManagementNew$1.6M0.6%+0.6 pp
Up to 15, sorted by position value. The percentage is the weight in each manager's portfolio.
Largest holders of HHH (all 13F filers)
- Pershing Squareconcentrated27.9 MInvestment firm · 46.64% of the company0
- Dimensional Fund Advisors2.9 MIndex manager · 4.90% of the company+102 K
- Vanguard Portfolio Management2.6 MIndex manager · 4.39% of the company−386 K
- BlackRock1.6 MIndex manager · 2.71% of the company+140 K
- Wells Fargo1.5 MBank or trading desk · 2.50% of the company+24 K
- American Century Companies1.4 MInvestment firm · 2.39% of the company+186 K
- Vanguard Capital Management1.4 MIndex manager · 2.28% of the company−288 K
- Donald Smith1.0 MInvestment firm · 1.68% of the company−41 K
- Long Focus Capital Management734 KType not verified · 1.23% of the company0
- Flat Footed620 KType not verified · 1.04% of the company+405 K
- Pershing Squareconcentrated
- Shares
- 27.9 M
- Change
- 0
- % of the company
- 46.64%
See more
- Type
- Investment firm
- Value
- $2.0 bn
- Shares
- 2.9 M
- Change
- +102 K
- % of the company
- 4.90%
See more
- Type
- Index manager
- Value
- $209M
- Shares
- 2.6 M
- Change
- −386 K
- % of the company
- 4.39%
See more
- Type
- Index manager
- Value
- $187M
- Shares
- 1.6 M
- Change
- +140 K
- % of the company
- 2.71%
See more
- Type
- Index manager
- Value
- $116M
- Shares
- 1.5 M
- Change
- +24 K
- % of the company
- 2.50%
See more
- Type
- Bank or trading desk
- Value
- $107M
- Shares
- 1.4 M
- Change
- +186 K
- % of the company
- 2.39%
See more
- Type
- Investment firm
- Value
- $102M
- Shares
- 1.4 M
- Change
- −288 K
- % of the company
- 2.28%
See more
- Type
- Index manager
- Value
- $97.3M
- Shares
- 1.0 M
- Change
- −41 K
- % of the company
- 1.68%
See more
- Type
- Investment firm
- Value
- $71.7M
- Shares
- 734 K
- Change
- 0
- % of the company
- 1.23%
See more
- Type
- Type not verified
- Value
- $52.5M
- Flat Footed
- Shares
- 620 K
- Change
- +405 K
- % of the company
- 1.04%
See more
- Type
- Type not verified
- Value
- $44.4M
The 10 13F filers with the most shares as of Jun 30, 2026, whatever their type (index firms usually come first). “Change”: shares added or cut versus the previous quarter, split-adjusted; “no data” = there is no comparable portfolio for the previous quarter (no filing, or a filing with its holdings under confidential treatment). “% of the company” only where shares outstanding are up to date. Entities of the same group file separately and some 13F filings include other managers: there may be double counting. With a free account: the top 25, the largest buyers and the largest sellers.
Fundamentals
12-month figures to Jun 30, 2026 · balance sheet as of Jun 30, 2026.
- Operating margin
- 21.3%
- Net margin
- 12.3%
- ROE
- 7.4%
- Revenue (TTM)
- $2.4 bn
- Revenue growth
- 34.0%
- Net income (TTM)
- $292M
- Net debt / EBITDA
- 3.9x
- Free cash flow (TTM)
- —
- Quality vs sector
- 63/100
Figures from the statements the company filed with the SEC (10-K, 10-Q). Free cash flow = operating cash flow − capital expenditures; empty if the company does not report capex. “Quality vs sector”: 0 to 100, the average of its percentiles in ROE, operating margin, free-cash-flow margin, revenue and earnings growth and net debt / EBITDA (at least 3 needed) against companies in its sector above $300M. How each figure is calculated
Shares outstanding: buybacks and dilution
2025: 56.0 M
- 1 year
- +12.3%
- 3 years
- no data
- 5 years
- no data
- Buybacks (FY 2025)
- no data
- Share issuance
- $863M
- Stock-based compensation
- $19.8M1.3% of revenue
- Dividends paid
- no data
From the statements the company filed with the SEC (10-K). The change compares average diluted shares of each fiscal year, on today's basis: negative = it bought back more than it issued; positive = dilution. “No data” = the company does not report that item under a tag we can read; it does not mean zero.
Earnings quality and debt
- Operating cash flow ÷ net income (12 months)
- 2.69
- Interest coverage (operating income ÷ interest)
- 2.0 timesfiscal 2025
- Debt due within 12 months
- no data
- Year 1$663M
- Year 2$508M
- Year 3$923M
- Year 4$1.1 bn
- Year 5$277M
- Later$1.7 bn
From the figures the company filed with the SEC. Cash flow over net income near or above 1 means earnings are collected in cash; far below, that part is accounting. Coverage says how many times operating income pays the latest fiscal year's interest. Maturities come from the debt note of the latest annual report, counted from its closing date. “No data” never means zero.
Insiders (Form 4)
10% owners who bought (6 m): 0
Open-market purchases, excluding 10b5-1 plans. Officers and directors only; joint filers of the same purchase count as one. 10% owners with no role are shown separately. 0 = nobody bought; “no data” = we do not have its Form 4 filings.
Each of the company's Form 4 filings, on EDGAR ↗Latest trades, with date and filing →
Above 5% (13D/13G)
Disclosed stakes, with their amendments. A filing is not always a purchase: there are also reductions and changes of filing entity.
This list may be incomplete: we hold 13D and 13G filings made since Dec 23, 2024. A holder above 5% that has not filed anything since then is not shown here.
- Dimensional Fund Advisors5.1%13Gfiling ↗Event: Sep 30, 2026 · filed: Oct 8, 2026
- Vanguard Portfolio Management4.4%(fell below 5%)13G · amendmentfiling ↗Event: Jun 30, 2026 · filed: Jul 31, 2026
- Pershing Square Capital Management46.7%13D · amendmentfiling ↗Event: Jun 4, 2026 · filed: Jun 8, 2026
Above 5% over time (13D/13G)
Each holder with its filings in order. History since December 2024.
Flagged material events (8-K)
Change in directors or officers (Item 5.02)
Unregistered sale of equity securities (Item 3.02)
«Howard Hughes Holdings Announces Closing of Vantage Group Holdings Acquisition»
Unregistered sale of equity securities (Item 3.02)
«Howard Hughes Holdings Appoints Former»
Change in directors or officers (Item 5.02)
«Howard Hughes Holdings Appoints Former»
Unregistered sale of equity securities (Item 3.02)
«Howard Hughes Holdings to Acquire Vantage Group Holdings»
Alert items the company itself flagged in its 8-K filings with the SEC, most serious first. It is the form's label, with no interpretation from us: Item 5.02 covers routine appointments as well as a chief executive's departure; open the filing. The quoted headline is the original press release's.
All material events (8-K)
Earnings, agreements, financing, management changes and announcements from the last year, with a filter by type and a link to each filing.
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