HHH - Pershing Square - Howard Hughes:  Early Stages Of Decades-Long Value Creation Opportunity

2024-03-24 10:30:00 ET

Summary

• HHH delivered strong business performance in 2023.
• The surge in new home sales continues to be driven by a significant shortage of resale housing inventory.
• HHH is in the early stages of its decades-long value creation opportunity.
• Pershing Square purchased an additional 3 million shares of HHH in 2023 and now owns 38% of the company.

The following segment was excerpted from this fund letter.

Howard Hughes ( HHH )

HHH delivered strong business performance in 2023, highlighting the high-quality nature of its well-located master-planned communities ("MPCs") and resilient business model....

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