Tapasya Fund Exited Howard Hughes Holding (HHH) Due to Unrealized Value

Core Insights - Tapasya Fund achieved a net return of 23.5% in 2025, outperforming the S&P 500's return of 17.9% [1] - The fund's performance was bolstered by developments in Artificial Intelligence (AI) and market fluctuations due to tariffs [1] - The fund aims to mitigate sector-specific risks to protect its portfolio from broader market downturns [1] Company Insights - Howard Hughes Holdings Inc. (NYSE:HHH) experienced a one-month return of -2.64% and a 52-week gain of 14.71% [2] - As of January 8, 2026, Howard Hughes Holdings Inc. had a market capitalization of $4.891 billion, with shares closing at $82.34 [2] - The fund sold its position in Howard Hughes Holdings Inc. due to opportunity cost, despite not incurring a realized loss [3] - The decision to sell was influenced by the desire to invest in assets with higher potential returns, as HHH's stock remained flat during the holding period [3] Market Sentiment - Howard Hughes Holdings Inc. was held by 32 hedge fund portfolios at the end of Q3 2025, a decrease from 36 in the previous quarter [4] - The potential of Howard Hughes Holdings Inc. is acknowledged, but certain AI stocks are viewed as having greater upside potential and lower downside risk [4]