Pershing Square Amends Howard Hughes Holdings Stake

TL;DR

Pershing Square just updated its Howard Hughes stake filing - big changes likely coming.

AI Summary

Pershing Square Capital Management, L.P. filed an amendment (Amendment No. 20) to its Schedule 13D on July 25, 2024, regarding its holdings in Howard Hughes Holdings Inc. The filing indicates a change in beneficial ownership, with Pershing Square Capital Management, L.P. and its affiliates now holding a significant stake in the company.

Why It Matters

This filing signals a potential shift in control or influence for Howard Hughes Holdings Inc., as a major activist investor like Pershing Square adjusts its position.

Risk Assessment

Risk Level: medium — Changes in significant shareholder filings can precede major corporate actions or shifts in strategy, introducing uncertainty.

Key Players & Entities

• Pershing Square Capital Management, L.P. (company) — Filing entity
• Howard Hughes Holdings Inc. (company) — Subject company
• William A. Ackman (person) — Group member of filing entity
• Amendment No. 20 (document) — Type of filing
• 20240725 (date) — Filing date

FAQ

Key Financial Figures

• $0.01 — me of Issuer) Common Stock, par value $0.01 per share (Title of Class of Securiti

Filing Documents

• c109598_sc13da.htm (SC 13D/A) — 80KB
• c109598_ex99-21.htm (EX-99.21) — 20KB
• 0000930413-24-002192.txt ( ) — 101KB

of the Schedule 13D is hereby amended

Item 4 of the Schedule 13D is hereby amended and supplemented by adding the following information: “On July 23, 2024, Seaport Entertainment, the Issuer and the Pershing Square Affiliated Funds entered into the First Amendment to Standby Purchase Agreement, pursuant to which the parties agreed to cause the shares of Seaport Entertainment’s common stock to be listed on the NYSE American LLC in lieu of the New York Stock Exchange in connection with the Separation.” SIGNATURE After reasonable inquiry and to the best of each of the undersigned’s knowledge and belief, each of the undersigned certify that the information set forth in this statement is true, complete and correct. Dated: July 25, 2024 PERSHING SQUARE CAPITAL MANAGEMENT, L.P. By: PS Management GP, LLC, its General Partner By /s/ William A. Ackman William A. Ackman Authorized Signatory PERSHING SQUARE HOLDCO, L.P. By: Pershing Square Holdco GP, LLC, its General Partner By /s/ William A. Ackman William A. Ackman Authorized Signatory PERSHING SQUARE HOLDCO GP, LLC By /s/ William A. Ackman William A. Ackman Authorized Signatory PS HOLDCO GP MANAGING MEMBER, LLC By /s/ William A. Ackman William A. Ackman Authorized Signatory /s/ William A. Ackman WILLIAM A. ACKMAN INDEX TO EXHIBITS Exhibit Description Exhibit 99.1 Joint Filing Agreement, dated as of July 18, 2024, among PSCM, PS Holdco, PS Holdco GP, ManagementCo and William A. Ackman.* Exhibit 99.2 Trading data.* Exhibit 99.3 Form of Confirmation for Forward Purchase Contracts.* Exhibit 99.4 Registration Rights Agreement.* Exhibit 99.5 Trading data.* Exhibit 99.6 Share Purchase Agreement (incorporated by reference and attached as Exhibit 1.2 of the Issuer’s Form 8-K filed March 31, 2020).* Exhibit 99.7 Lock-up Letter Agreement, dated March 27, 2020, from PSCM, on behalf of the Pershing Square Affiliated Funds, to BofA Securities, Inc., J.P. Morgan Secu

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View this SC 13D/A filing on SEC EDGAR