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