Ackman-backed Howard Hughes climbs on S&P SmallCap inclusion

Pershing Square

26/10/2026 14:11

** Bill Ackman-backed Howard Hughes Holdings HHH.N shares climb 6.7% to as high as $74.90 early Mon as diversified holdings firm set to join S&P SmallCap 600 Index .SPCY this week
** HHH to replace Arcosa ACA.N in SPCY effective before market open on Weds, Oct 28, Dow Jones Indices said late Fri
** Ireland's CRH CRH.N on Fri completed its $8.5 bln acquisition of infrastructure-related products provider ACA
** HHH, best known for its master-planned communities, shifted its focus last year toward buying controlling stakes in businesses in other sectors, part of executive board chair Ackman's broader effort to build a diversified holding co modeled after Berkshire Hathaway BRKa.N 
** Stephens analyst Melissa Roberts said in a note she expects passive funds will need to purchase 4.3 mln HHH shares, which implies about 6 days of buying demand
** The Woodlands, Texas-based HHH has ~59.7 mln shares outstanding for roughly $4.4 bln market cap
** HHH stock last up 5.1% at $73.75, trimming YTD loss to ~8%

(Lance Tupper is a Reuters market analyst. The views expressed are his own)
((lance.tupper@tr.com 1-646-279-6380))