v3.26.1
Consolidated Statements of Financial Condition - USD ($)
Jun. 30, 2026
Dec. 31, 2025
Assets    
Cash and cash equivalents $ 8,907,987 $ 55,397,767
Restricted cash 118,935 118,935
Prepaid expenses 4,542,200 1,344,606
Due from affiliates [1] 1,266,074 15,613,554
Investment in HHH, at fair value 643,410,000 717,930,000
Deferred Asset - PS Inc. IPO Shares 600,030,826 0
Deferred HHH Services Agreement premium 275,839,207 283,158,457
Investment in PSUS, at fair value 199,650,000 0
Investment in PSLP, at fair value [1] 56,820,724 79,288,239
Fixed assets and leasehold improvements (net of accumulated depreciation of $18,740,780 and $17,592,861) 13,859,310 14,983,725
Lease right-of-use assets 7,899,631 28,440,786
Other assets 312,931 3,465,870
Performance fees receivable 0 497,330,469
Deferred sublease incentive 0 4,129,121
Total assets 1,812,657,825 1,701,201,529
Liabilities    
Accrued compensation and benefits [1] 13,202,513 426,093,557
Accounts payable 7,919,980 8,620,401
Deferred revenue 3,786,000 3,786,000
Loans payable 231,985,236 34,800,000
Deferred tax liability 125,524,518 0
Operating lease liabilities 21,060,002 42,672,771
Performance fee distributions payable [1] 0 54,838,527
Affiliates fee rebate payable 0 24,143,741
Taxes payable 0 17,029,108
Distributions payable to partners 0 10,104,536
Total liabilities 403,478,249 622,088,641
Equity    
Common stock, $0.001 par value, 1,000,000,000 shares authorized (400,000,000 and 0 shares outstanding as of June 30, 2026 and December 31, 2025, respectively) 400,000 0
Additional paid-in-capital 1,335,576,463 0
Retained earnings 24,961,996 0
Non-controlling interest in consolidated variable interest entities [1] 48,241,117 62,694,884
Partners' capital controlling interests 0 1,016,418,004
Total equity 1,409,179,576 1,079,112,888 [2]
Total liabilities and equity $ 1,812,657,825 $ 1,701,201,529
[1] Includes amounts attributable to consolidated variable interest entities (“VIEs”) for which Pershing Square Inc. does not have any direct equity interests.
[2] During the periods presented, Pershing Square Inc. also had one special voting share outstanding with par value $0.001.