| Summary of All Sources of Management Fees |
The following table presents a summary of all sources of management fees:
|
|
|
|
|
|
|
|
Three months ended March 31, |
|
|
2026 |
|
2025 |
|
Pershing Square Holdings, Ltd. |
$ |
54,233,716 |
|
$ |
48,449,424 |
|
Pershing Square, L.P. |
|
2,349,969 |
|
|
2,516,123 |
|
Pershing Square International, Ltd. |
|
796,443 |
|
|
1,236,822 |
|
HHH Base Management Fee |
|
3,786,000 |
|
|
— |
|
Total Management Fees - Gross |
$ |
61,166,128 |
|
$ |
52,202,369 |
|
|
|
|
|
|
Less: Amortization of HHH Premium |
|
(3,659,625 |
) |
|
— |
|
|
|
|
|
|
Total Management Fees - Net |
$ |
57,506,503 |
|
$ |
52,202,369 |
|
|