Concorde Financial Exits Howard Hughes Holdings, Developer of Large Sun Belt Communities

According to a caller SEC filing dated February 17, 2026, Concorde Financial Corp disclosed successful a U.S. Securities and Exchange Commission (SEC) filing that it sold retired its full involvement successful Howard Hughes Holdings (NYSE:HHH), liquidating 52,047 shares successful an estimated $4.28 cardinal commercialized based connected quarterly mean pricing.

Concorde Financial Corp sold retired its full Howard Hughes Holdings stake. As of February 16, 2026, shares of Howard Hughes Holdings were priced astatine $82.15, up 9.5% implicit the past year, underperforming the S&P 500 by 2.3 percent points. The presumption was antecedently 2.4% of the fund’s assets nether absorption arsenic of the anterior quarter.

Top holdings aft the filing:

• NYSE:JPM: $9.16 cardinal (7.1% of AUM)

• NYSE:XOM: $8.03 cardinal (6.2% of AUM)

• NASDAQ:EXE: $7.45 cardinal (5.8% of AUM)

• NYSE:ET: $7.39 cardinal (5.7% of AUM)

• NYSE:ABBV: $7.04 cardinal (5.5% of AUM)

Howard Hughes Holdings develops, owns, and manages a diversified portfolio of existent property assets, including retail, office, multifamily, and maestro planned communities; besides operates landmark properties successful New York City’s Seaport district.

It generates gross chiefly done spot leasing, onshore sales, and improvement fees, leveraging semipermanent assemblage improvement and recurring rental income streams.

Howard Hughes Holdings serves homebuilders, commercialized tenants, and residential buyers successful large U.S. maturation markets specified arsenic Las Vegas, Houston, and Phoenix.

Howard Hughes Holdings is built astir a long-cycle existent property improvement model. The institution controls ample onshore positions successful fast-growing markets specified arsenic Las Vegas, Houston, and Phoenix, wherever colonisation maturation and lodging request tin summation onshore values implicit clip earlier overmuch of that onshore is afloat developed.

Howard Hughes Holdings monetizes its communities successful stages. It starts by selling residential onshore parcels to homebuilders, past introduces retail, office, and mixed-use properties arsenic colonisation and request grow. This attack provides gross from onshore income and semipermanent currency travel arsenic communities necessitate shopping, workplaces, and amusement options.

For investors, the cardinal question is whether Howard Hughes tin consistently person onshore ownership into higher onshore values and unchangeable commercialized income. When lodging request and migration trends are strong, the exemplary tin make semipermanent value. However, results whitethorn beryllium much cyclical and little predictable than those of stabilized spot owners, since outcomes volition besides beryllium connected improvement timing, homebuilder demand, and section economical conditions.