Howard Hughes reports $900 million stock purchase by Pershing Square at $100 per share, increasing ownership to 47%.
Howard Hughes (NYSE:HHH) detailed its transition into a diversified holding company during its second-quarter earnings call, emphasizing growth in insurance and master-planned communities. The company acquired Vantage Group Holdings in June and injected $300 million of additional capital into the specialty insurance platform.
Pershing Square, led by Bill Ackman, increased its stake in Howard Hughes to 47% after purchasing $900 million of stock at $100 per share in May 2025. Ackman highlighted plans to expand the insurance segment, which will receive more capital while real estate assets are monetized.
Vantage, founded in 2020, reported premium growth despite catastrophe and reserve impacts. Its results were consolidated into Howard Hughes’ figures from June 4 through June 30, with supplemental disclosures provided separately.