HHH - Billionaire Investor Bill Ackman Is Betting 15% of His Entire Portfolio on This 1 Stock
2024-04-11 07:15:00 ET
Bill Ackman is the billionaire hedge fund manager behind Pershing Square Holdings . He has been crushing the market for years. For instance, since 2019, his portfolio has tripled in value.
Ackman doesn't diversify his portfolio for the sake of diversification. When he likes a stock, he goes all in. Right now, he has more than 15% of his portfolio invested in a single company. He has owned this stock for years, and it's fair to say he thinks it has plenty of upside from here.
Howard Hughes Holdings (NYSE: HHH) has a weird history. Nearly 15 years ago, it was spun off from General Growth Properties , which was later acquired by Brookfield Property Partners . Howard Hughes Holdings, then known as Howard Hughes Corporation, held a strange portfolio of properties that General Growth Properties believed weren't being valued fairly by the market. The company, for example, owned commercial real estate in New York City, a collection of master-planned communities in the western and southern U.S., and the air rights -- otherwise known as the right to build -- above a famous property in Las Vegas.
For further details see:
Billionaire Investor Bill Ackman Is Betting 15% of His Entire Portfolio on This 1 Stock