13F

Position

Pershing Square in Howard Hughes Holdings Inc.

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Estimated mark uses implied 13F prices (value ÷ shares). Adds are treated as happening at this quarter’s mark; cuts at last quarter’s. Share jumps can be splits, not buys. This is not realized P&L.

Latest estimated mark −$311.2M$79.77$63.26

QuarterSharesValueImplied pxEst. markFlowWeight
Q4 202518.9M$1.5B9.7%
Q1 202618.9M$1.19B$63.26−$311.2M$08.7%