Howard Hughes Corporation
Bill Ackman’s Pershing Square Holdings netted gains of 3.5% in August, in sharp contrast to the losses posted by the major stock benchmarks in the month.
Bill Ackman’s Pershing Square Holdings is having a stellar 2019. It’s seen a year-to-date gain of 48.9% as per its letter to shareholders.
Bill Ackman’s Pershing Square is having a stellar year with YTD gains of 45.3%.
Today, CNBC reported that Howard Hughes Corporation (HHC) is exploring strategic alternatives, including a possible sale. The company has hired bankers at Centerview Partners to help it explore its options.
Bill Ackman has made a huge comeback in 2019.
The top holdings of Pershing Square Capital Management include Restaurant Brands International (QSR), Automatic Data Processing (ADP), Mondelēz International (MDLZ), Chipotle Mexican Grill (CMG), and Howard Hughes (HHC).
Pershing Square Capital Management is the first largest investor in Restaurant Brands International, with 39.1 million shares as of March 31, 2017.
Ackman believes it’s a good time to invest in the Howard Hughes Corporation since it’s poised for strong growth in the current economic situation.
When asked about the recent sale of Valent shares by former Valeant CEO Pearson, Ackman said that Pearson was forced to sell the share due to tax issues.
Pershing Square Management added more shares in mortgage financiers Freddie Mac (FMCC) and Fannie Mae (FNMA) during the drop in stock prices in October.
An amended 13D filing earlier this month revealed that activist investor Bill Ackman’s hedge fund, Pershing Square Capital, increased its stake in Howard Hughes Corporation.