v3.26.1
Fair Value Investments - Summary of Financial Information of Equity Method Investment (Details) - USD ($)
 1 Months Ended 2 Months Ended 3 Months Ended 4 Months Ended 6 Months Ended
Apr. 30, 2026
 [1]
Jun. 30, 2026
Jun. 30, 2025
Jun. 30, 2026
Jun. 30, 2025
Apr. 30, 2026
 [1]
Jun. 30, 2026
Jun. 30, 2025
Dec. 31, 2025
Assets                  
All other assets   $ 312,931   $ 312,931     $ 312,931   $ 3,465,870
Total assets   1,812,657,825   1,812,657,825     1,812,657,825   1,701,201,529
Liabilities and Equity                  
Total liabilities   403,478,249   403,478,249     403,478,249   622,088,641
Total equity [1]   1,409,179,576   1,409,179,576     1,409,179,576    
Total liabilities and equity   1,812,657,825   1,812,657,825     1,812,657,825   1,701,201,529
Statement of Operations                  
Total revenues       54,176,772 $ 53,179,136   111,683,275 $ 105,483,725  
Total expenses       144,305,363 33,039,058   196,740,096 74,952,367  
Operating income (loss)       (90,128,591) 20,140,078   (85,056,821) 30,531,358  
Net income (loss) $ (61,726,247) 21,181,433 [1]   (40,544,814) 32,858,768 $ (220,259,880) (199,078,447) 52,682,830  
Net income (loss) attributable to common stockholders       (42,695,385) $ 23,669,603   (190,285,238) $ 43,400,433  
HHH                  
Assets                  
Net investment in real estate   6,969,318,000   6,969,318,000     6,969,318,000   7,367,055,000
All other assets   8,940,725,000   8,940,725,000     8,940,725,000   3,272,406,000
Total assets   15,910,043,000   15,910,043,000     15,910,043,000   10,639,461,000
Liabilities and Equity                  
Mortgages, notes, and loans payable, net   5,456,403,000   5,456,403,000     5,456,403,000   5,109,828,000
Reserves for claims and claim expenses   2,115,416,000   2,115,416,000     2,115,416,000    
All other liabilities   3,308,487,000   3,308,487,000     3,308,487,000   1,687,387,000
Total liabilities   10,880,306,000   10,880,306,000     10,880,306,000   6,797,215,000
Total equity   5,029,737,000   5,029,737,000     5,029,737,000   3,842,246,000
Total liabilities and equity   $ 15,910,043,000   15,910,043,000     15,910,043,000   $ 10,639,461,000
Statement of Operations                  
Total revenues     $ 214,339,458 1,122,327,000     1,358,244,000    
Total expenses     (150,257,843) (895,599,000)     (1,080,967,000)    
Total other income (loss)     807,844 12,862,000     12,989,000    
Operating income (loss)     64,889,459 239,590,000     290,266,000    
Net income (loss)     (4,045,224) 156,957,000     165,022,000    
Net income (loss) attributable to common stockholders     $ (4,080,379) $ 158,365,000     $ 166,591,000    
[1] During the periods presented, Pershing Square Inc. also had one special voting share outstanding with par value $0.001.