Sec Form 4 Filing - Brascan Asset Management Holdings Ltd @ Howard Hughes Corp - 2010-11-09

FORM 4 Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940

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1. Name and Address of Reporting Person Brascan Asset Management Holdings Ltd 2. Issuer Name and Ticker or Trading Symbol Howard Hughes Corp [ HHC] 5. Relationship of Reporting Person(s) to Issuer (Check all applicable) X __ Director X __ 10% Owner _____ Officer (give title below) X __ Other (specify below) Director by deputization *** (Last) (First) (Middle) 181 BAY STREET, P.O. BOX 762 3. Date of Earliest Transaction (MM/DD/YY) 11/09/2010 (Street) TORONTO, A6M5J 2T3 4. If Amendment, Date Original Filed (MM/DD/YY) 6. Individual or Joint/Group Filing (Check Applicable Line) __ X __ Form filed by One Reporting Person _____ Form filed by More than One Reporting Person (City) (State) (Zip)

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned 1.Title of Security (Instr. 3) 2. Transaction Date (MM/DD/YY) 2A. Deemed Execution Date, if any (MM/DD/YY) 3. Transaction Code (Instr. 8) 4. Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5) 5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4) 6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 7. Nature of Indirect Beneficial Ownership (Instr. 4) Code V Amount (A) or (D) Price Common Stock, Par Value $0.01 per share 11/09/2010 A 789,145 A $ 47.619 789,145 I footnotes ( 1 ) ( 8 ) Common Stock, Par Value $0.01 per share 11/09/2010 A 541,513 A $ 47.619 541,513 I footnotes ( 2 ) ( 8 ) Common Stock, Par Value $0.01 per share 11/09/2010 A 621,147 A $ 47.619 621,147 I footnotes ( 3 ) ( 8 ) Common Stock, Par Value $0.01 per share 11/09/2010 A 71,816 A $ 47.619 71,816 I footnotes ( 4 ) ( 8 ) Common Stock, Par Value $0.01 per share 11/09/2010 A 143,342 A $ 47.619 143,342 I footnotes ( 5 ) ( 8 ) Common Stock, Par Value $0.01 per share 11/09/2010 A 48,032 A $ 47.619 48,032 I footnotes ( 6 ) ( 8 ) Common Stock, Par Value $0.01 per share 11/09/2010 A 48,032 A $ 47.619 48,032 I footnotes ( 7 ) ( 8 )

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned ( e.g. , puts, calls, warrants, options, convertible securities) 1. Title of Derivative Security (Instr. 3) 2. Conversion or Exercise Price of Derivative Security 3. Transaction Date (MM/DD/YY) 3A. Deemed Execution Date, if any (MM/DD/YY) 4. Transaction Code (Instr. 8) 5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4, and 5) 6. Date Exercisable and Expiration Date (MM/DD/YY) 7. Title and Amount of Underlying Securities (Instr. 3 and 4) 8. Price of Derivative Security (Instr. 5) 9. Number of Derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4) 10. Ownership Form of Derivative Security: Direct (D) or Indirect (I) (Instr. 4) 11. Nature of Indirect Beneficial Ownership (Instr. 4) Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares Warrants to acquire Common Stock ( 9 ) $ 50 11/09/2010 A 1,247,643 11/09/2010 11/09/2017 Common Stock 1,247,643 ( 9 ) 1,247,643 I see footnotes ( 1 ) ( 8 ) Warrants to acquire Common Stock ( 9 ) $ 50 11/09/2010 A 856,134 11/09/2010 11/09/2017 Common Stock 856,134 ( 9 ) 856,134 I see footnotes ( 2 ) ( 8 ) Warrants to acquire Common Stock ( 9 ) $ 50 11/09/2010 A 982,036 11/09/2010 11/09/2017 Common Stock 982,036 ( 9 ) 982,036 I see footnotes ( 3 ) ( 8 ) Warrants to acquire Common Stock ( 9 ) $ 50 11/09/2010 A 113,541 11/09/2010 11/09/2017 Common Stock 113,541 ( 9 ) 113,541 I see footnotes ( 4 ) ( 8 ) Warrants to acquire Common Stock ( 9 ) $ 50 11/09/2010 A 226,625 11/09/2010 11/09/2017 Common Stock 226,625 ( 9 ) 226,625 I see footnotes ( 5 ) ( 8 ) Warrants to acquire Common Stock ( 9 ) $ 50 11/09/2010 A 75,924 11/09/2010 11/09/2017 Common Stock 75,924 ( 9 ) 75,924 I see footnotes ( 6 ) ( 8 ) Warrants to acquire Common Stock ( 9 ) $ 50 11/09/2010 A 75,924 11/09/2010 11/09/2017 Common Stock 75,924 ( 9 ) 75,924 I see footnotes ( 7 ) ( 8 )

Reporting Owners Reporting Owner Name / Address Relationships Director 10% Owner Officer Other Brascan Asset Management Holdings Ltd 181 BAY STREET P.O. BOX 762 TORONTO, A6M5J 2T3 X X Director by deputization *** Signatures By Aleks Novakovic, Vice President of Brascan Asset Management Limited, /s/ Aleks Novakovic 02/02/2011 Signature of Reporting Person Date

Explanation of Responses:

( 1 )See Exhibit 99.1; Note 1. ( 2 )See Exhibit 99.1; Note 2. ( 3 )See Exhibit 99.1; Note 3. ( 4 )See Exhibit 99.1; Note 4. ( 5 )See Exhibit 99.1; Note 5. ( 6 )See Exhibit 99.1; Note 6. ( 7 )See Exhibit 99.1; Note 7. ( 8 )See Exhibit 99.1; Note 8. ( 9 )See Exhibit 99.1; Note 9.

Remarks: *** David Arthur, a Managing Partner of Brookfield Asset Management Inc., a corporation formed under the laws of the Province of Ontario ("BAM"), serves on the board of directors of the Issuer as a representative of each of BAM, Trilon Bancorp Inc., a corporation formed under the laws of the Province of Ontario, Brookfield Private Funds Holdings Inc., a corporation formed under the laws of the Province of Ontario, Brookfield Asset Management Private Institutional Capital Adviser (Canada) LP, a limited partnership formed under the laws of the Province of Manitoba, Brascan Asset Management Holdings Limited, a Canadian entity formed under the Canada Business Corporations Act and a wholly-owned subsidiary of BAM (the "Reporting Person"), Brookfield US Holdings Inc., a corporation formed under the laws of the Province of Ontario, Brookfield US Corporation, a Delaware corporation, Brookfield REP GP Inc., a Delaware corporation, Brookfield Retail Split LP, a Delaware limited partnership and Brookfield Retail Holdings LLC (formerly REP Investments LLC), a Delaware limited liability company. The Reporting Person is a "director by designation" solely for purposes of Section 16 of the Securities Exchange Act of 1934.Exhibit List:Exhibit 99.1 - Explanation of Responses

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.

* If the form is filed by more than one reporting person, see Instruction 4(b)(v).

** Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).

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