The Howard Hughes Corporation

Take a look at this.

Clark County commissioners have cleared the way for more apartments and retail space to be built by developer Howard Hughes Holdings.

Plans call for a 354-unit apartment complex with over 6,000 square feet of commercial space.

It'll be located along Spruce Goose Street, east of the open-air mall off Sahara at the 215 Beltway.

Look at his portfolio.

I'll read, I know you can't see him, but he got Brookfield, so you're talking energy, Amazon, Uber, Microsoft, Meta, Howard Hughes Holdings, don't know that one, Seaport Entertainment, Alphabet, Hertz, he's got Hertz on there? Loser.

And then you got QSR, which is Restaurant Brands International.

You notice that, you know, Ackman, he's not adverse to tech he's not adverse to it like berkshire hathaway was and by the way it took him a long time to get apple and google in their portfolio right i'm pretty sure there's a a bunch of convincing that had to be done so you know this is where my my point there was if google if berkshire sticks to their mo they really shouldn't have much tech in their portfolio and they're not they're not going to jump on a sand desk not going to jump on a micron they're not absolutely not going to buy bitcoin right or coinbase because those are outside of their norm it's part of their i'd like to see what the the mission statement for bircher hathaway is let me see if i can find this emission CEO mission statement for Berkshire Hathaway, if it even has one.

Joining us today is Jean Baptiste.

30-plus years of investing, 20 years at private equity firm BC Partners, and currently running his own family office and serving as a board member for Pershing Square Holdings and Howard Hughes Holdings.

What is coming in this podcast? This is one of the very best podcasts I think we've ever done.

Get a pen and paper ready, there's some information coming here we can all value and we can all learn from.

And there I was CIO for 10 years, and I was also involved in, in covering consumer and healthcare, so did a lot of deals in the space.

I stepped down a few years ago to create my family office, which already manages, uh, five consumer companies, one of which is, is a startup.

I'm also on the board of Pershing Square and Howard Hughes, which are two entities that Bill Ackman controls and manages, so also active on the public side now.

And other than that, I do lots of other things, lectures, philanthropy and, and, and the sorts.

Yeah.

If you go on standard 13F tracking websites right now, you're going to see a flashing alert that Pershing Square increased its position in Howard Hughes Holdings, ticker HHH, by a staggering 48%.

Wow.

Which, I mean, that sounds like a massive vote of confidence.

It comes down to a purely structural change in how Pershing files their paperwork.

Oh, okay.

So in the first quarter, the traditional Pershing Square Capital Management 13F reported 18.852 million Howard Hughes shares, but they had a separate affiliated manager filing that held another 9 million shares.

So the new Q2 consolidated filing, it simply puts both of those entities under one roof.

It goes on to say in this article, Sumlin's developers sold land to home bidders last month at higher values than usual in part of Las Vegas known for its expensive dirt.

Howard Hughes Holdings, that's the developer of Summerlin, sold 73 acres combined to three builders for $126 million.

Property records show the land is located about a mile or so west of Lake Mead Boulevard, Summerlin Parkway Interchange.

So it's out there from the far west side, way over in the mountains.