Ackman’s Pershing Square raises stake in Howard Hughes Corp.- filing

FILE PHOTO: Bill Ackman, chief executive officer and portfolio manager at Pershing Square Capital Management, speaks during the SALT conference in Las Vegas, Nevada, U.S. May 18, 2017. REUTERS/Richard Brian

BOSTON (Reuters) – Activist investor William Ackman’s hedge fund Pershing Square Capital Management has raised its stake in real estate company Howard Hughes Corp. (HHC.N), according to a regulatory filing made on Wednesday.

The New York-based investment firm reported having a 14.8% stake in the company, or 6.4 million shares, including 2.2 million shares of common stock and 4.2 million underlying forward purchase contracts.

Previously it had an economic interest of 12.6%, including common stock and swaps, according to a regulatory filing made roughly a year ago.

Pershing Square has owned Howard Hughes shares for years and Ackman serves as chairman of the company’s board.

Reporting by Svea Herbst-Bayliss; Editing by Sonya Hepinstall

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