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Includes a callout box explaining Bill Ackman's personal look-through ownership.Howard Hughes Holdings Inc. (HHH) · William Ackman
Activist deck Activist investor Beat · Solution & Approach1 hit
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Howard Hughes Holdings Inc. (HHH)Howard Hughes Holdings Inc. (HHH) · William Ackman
Activist deck Activist investor Beat · Solution & Approach1 hit
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The slide uses a hub-and-spoke diagram to show the parent company and its subsidiaries.Howard Hughes Holdings Inc. (HHH) · William Ackman
Activist deck Activist investor Beat · Evidence & Proof1 hit
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Howard Hughes Holdings Inc. (HHH)Howard Hughes Holdings Inc. (HHH) · William Ackman
Activist deck Activist investor Beat · Evidence & Proof1 hit
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The slide uses a funnel-like narrative to show the lack of interest from 284 investors down to zero formal offers.Howard Hughes Holdings Inc. (HHH) · William Ackman
Activist deck Activist investor Beat · Evidence & Proof1 hit
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Howard Hughes Holdings Inc. (HHH)Howard Hughes Holdings Inc. (HHH) · William Ackman
Activist deck Activist investor Beat · Problem & Complication1 hit
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Howard Hughes Holdings Inc. (HHH)Howard Hughes Holdings Inc. (HHH) · William Ackman
Activist deck Activist investor Beat · Problem & Complication1 hit
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The slide uses a table to reconcile total post-transaction shares with the specific look-through stake of the Pershing Square team.Howard Hughes Holdings Inc. (HHH) · William Ackman
Activist deck Activist investor 1 hit
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Includes annotations for market events (Global Financial Crisis, Covid-19, Rapid interest rate hiking cycle) and performance periods.Howard Hughes Holdings Inc. (HHH) · William Ackman
Activist deck Activist investor 1 hit
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The slide uses a combination of a detailed list and an icon-based summary to communicate the firm's investment philosophy.Howard Hughes Holdings Inc. (HHH) · William Ackman
Activist deck Activist investor 1 hit
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Howard Hughes Holdings Inc. (HHH)Howard Hughes Holdings Inc. (HHH) · William Ackman
Activist deck Activist investor 1 hit
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The slide highlights a 935 bps outperformance per annum vs the S&P 500.Howard Hughes Holdings Inc. (HHH) · William Ackman
Activist deck Activist investor 1 hit
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The slide highlights a 1,300 bps per annum outperformance vs S&P 500.Howard Hughes Holdings Inc. (HHH) · William Ackman
Activist deck Activist investor 1 hit
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Howard Hughes Holdings Inc. (HHH)Howard Hughes Holdings Inc. (HHH) · William Ackman
Activist deck Activist investor 1 hit
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The slide highlights the efficacy of Pershing Square's hedging strategy as a counter-narrative to HHH/GGP's performance.Howard Hughes Holdings Inc. (HHH) · William Ackman
Activist deck Activist investor 1 hit
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The slide uses a 'Range of Engagement' vs 'Value Creation' structure to demonstrate historical impact.Howard Hughes Holdings Inc. (HHH) · William Ackman
Activist deck Activist investor 1 hit
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The slide uses a mix of bullet points and nested sub-bullets to detail specific Pershing Square vehicles (PSH, PSTH, SPARC).Howard Hughes Holdings Inc. (HHH) · William Ackman
Activist deck Activist investor 1 hit
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Addresses a potential critique regarding compensation structure.Howard Hughes Holdings Inc. (HHH) · William Ackman
Activist deck Activist investor 1 hit
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Uses a contrast-based framework to highlight HHH's superior fee and governance structure compared to standard PE.Howard Hughes Holdings Inc. (HHH) · William Ackman
Activist deck Activist investor 1 hit
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The slide uses a comparison frame to establish a precedent for sponsor ownership stakes.Howard Hughes Holdings Inc. (HHH) · William Ackman
Activist deck Activist investor 1 hit
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The slide highlights the fee structure differences between Brookfield's standard entities and HHH, specifically noting HHH's lack of performance fees.Howard Hughes Holdings Inc. (HHH) · William Ackman
Activist deck Activist investor 1 hit
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The slide uses a comparison table to justify a lower fee ratio for the proposed HHH entity.Howard Hughes Holdings Inc. (HHH) · William Ackman
Activist deck Activist investor 1 hit
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The slide uses a contrast-based layout to highlight the competitive advantages of the HHH Services Agreement (no performance fees, no upfront commissions, daily liquidity).Howard Hughes Holdings Inc. (HHH) · William Ackman
Activist deck Activist investor 1 hit
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The slide highlights the total fee burden as a percentage of average NAV.Howard Hughes Holdings Inc. (HHH) · William Ackman
Activist deck Activist investor 1 hit
42
The slide uses a contrast-based layout to highlight the competitive advantages of the HHH Services Agreement (no performance fees, daily liquidity).Howard Hughes Holdings Inc. (HHH) · William Ackman
Activist deck Activist investor 1 hit
46
The chart illustrates volatility in REIT valuations relative to NAV over a 21-year period.Howard Hughes Holdings Inc. (HHH) · William Ackman
Activist deck Activist investor 1 hit
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The slide uses a dot-plot style visualization to compare two data series over time.Howard Hughes Holdings Inc. (HHH) · William Ackman
Activist deck Activist investor 1 hit
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The slide uses a contrast-based argument to invalidate a common valuation metric.Howard Hughes Holdings Inc. (HHH) · William Ackman
Activist deck Activist investor 1 hit
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Howard Hughes Holdings Inc. (HHH)Howard Hughes Holdings Inc. (HHH) · William Ackman
Activist deck Activist investor 1 hit
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Howard Hughes Holdings Inc. (HHH)Howard Hughes Holdings Inc. (HHH) · William Ackman
Activist deck Activist investor 1 hit