SCHEDULE 13D/A 0000950123-10-107487 0001336528 XXXXXXXX LIVE 30 Common Stock, par value $0.01 per share 08/05/2025 false 0001981792 44267T102 Howard Hughes Holdings Inc.

9950 WOODLOCH FOREST DRIVE 11TH FLOOR THE WOODLANDS TX 77380

Halit Coussin (212) 813-3700 Pershing Square Capital Management, L.P. 787 Eleventh Avenue, 9th Floor New York NY 10019 0001336528 Pershing Square Capital Management, L.P. OO DE 0 0 0 18852064 18852064 N 31.7 IA Item 13 Footnote: This calculation is based on 59,401,210 shares of Common Stock outstanding as of July 30, 2025, as reported in the Issuer's Form 10-Q filed on August 6, 2025 for the quarterly period ended June 30, 2025 (the "Form 10-Q"). Y Pershing Square Holdco, L.P. OO DE 9000000 18852064 9000000 18852064 27852064 N 46.9 PN Item 13 Footnote: This calculation is based on 59,401,210 shares of Common Stock outstanding as of July 30, 2025, as reported in the Form 10-Q. Y Pershing Square Holdco GP, LLC OO DE 9000000 18852064 9000000 18852064 27852064 N 46.9 OO Item 13 Footnote: This calculation is based on 59,401,210 shares of Common Stock outstanding as of July 30, 2025, as reported in the Form 10-Q. Y PS Holdco GP Managing Member, LLC OO DE 9000000 18852064 9000000 18852064 27852064 N 46.9 OO Item 13 Footnote: This calculation is based on 59,401,210 shares of Common Stock outstanding as of July 30, 2025, as reported in the Form 10-Q. Y William A. Ackman OO X1 9000000 18852064 9000000 18852064 27852064 N 46.9 IN Item 13 Footnote: This calculation is based on 59,401,210 shares of Common Stock outstanding as of July 30, 2025, as reported in the Form 10-Q. Common Stock, par value $0.01 per share Howard Hughes Holdings Inc. 9950 WOODLOCH FOREST DRIVE 11TH FLOOR THE WOODLANDS TX 77380 This amendment No. 30 ("Amendment No. 30") to Schedule 13D is being filed on behalf of the Reporting Persons relating to the common stock, par value $0.01 per share (the "Common Stock"), of Howard Hughes Holdings Inc., a Delaware corporation (the "Issuer"). This Amendment No. 30 modifies the original Schedule 13D filed on December 4, 2019 (as amended and supplemented prior to the filing of this Amendment No. 30, the "Schedule 13D") by (i) Pershing Square Capital Management, L.P., a Delaware limited partnership, (ii) PS Management GP, LLC, a Delaware limited liability company, and (iii) William A. Ackman, a citizen of the United States. Capitalized terms used but not defined in this Amendment No. 30 shall have the meanings set forth in the Schedule 13D. Except as specifically amended by this Amendment No. 30, the Schedule 13D is unchanged. Item 4 of the Schedule 13D is hereby amended and supplemented by adding the following information: "On August 5, 2025, in connection with the previously announced acquisition by Pershing Square Holdco, L.P. ("Holdco") of 9,000,000 newly issued shares of Common Stock and subsequent amendments to the respective investment management agreements between Pershing Square Capital Management, L.P. ("PSCM") and each of Pershing Square Holdings, Ltd. ("PSH"), Pershing Square International, Ltd. ("PSIL"), and Pershing Square, L.P. ("PSLP", and together with PSH and PSIL, the "PS Funds"), Holdco, PSCM and the PS Funds entered into a Voting Proxy Agreement (the "Voting Proxy Agreement"), which is filed as Exhibit 99.38 hereto and incorporated herein by reference, pursuant to which each PS Fund appointed Holdco as its proxy and attorney-in-fact to vote all of the Common Stock that such PS Fund holds. The Voting Proxy Agreement does not restrict any of the PS Funds from disposing any Common Stock that such PS Fund owns. A disposition of Common Stock by any PS Fund would automatically terminate the voting proxy granted pursuant to the Voting Proxy Agreement with respect to such Common Stock disposed. Additionally, the voting proxy granted pursuant to the Voting Proxy Agreement may be terminated with respect to any PS Fund (i) upon written notice by Holdco to such PS Fund or (ii) upon written notice by such PS Fund to Holdco given no less than twelve months after termination by such PS Fund of the applicable investment management agreement by and between such PS Fund and PSCM." Item 6 of the Schedule 13D is hereby amended and supplemented by adding the following information: "The information set forth in Item 4 of Amendment No. 30 is incorporated by reference into this Item 6 as if restated in full." Item 7 of the Schedule 13D is hereby amended and supplemented by adding a reference to the following exhibits: Exhibit 99.38: Voting Proxy Agreement, dated as of August 5, 2025, by and between Pershing Square Holdco, L.P., Pershing Square Capital Management, L.P., Pershing Square Holdings, Ltd., Pershing Square International, Ltd., and Pershing Square, L.P. Pershing Square Capital Management, L.P. /s/ William A. Ackman 08/07/2025 Pershing Square Holdco, L.P. /s/ William A. Ackman 08/07/2025 Pershing Square Holdco GP, LLC /s/ William A. Ackman 08/07/2025 PS Holdco GP Managing Member, LLC /s/ William A. Ackman 08/07/2025 William A. Ackman /s/ William A. Ackman 08/07/2025