v3.26.1
Consolidated Statements of Changes in Equity - USD ($)
Total
Limited Partner Interest - Pershing Square Holdco, L.P
Common Stock
Additional Paid-in-Capital
Retained Earnings (Deficit)
Non-controlling Interest
Beginning balance at Dec. 31, 2024 $ 967,258,449 $ 920,469,068 [1]       $ 46,789,381
Capital contributions 719,785 719,785 [1]        
Capital distributions (58,592,014) (54,364,255) [1]       (4,227,759)
Net income (loss) 52,682,830 43,400,433 [1]       9,282,397
Ending balance at Jun. 30, 2025 962,069,050 910,225,031 [1]       51,844,019
Beginning balance at Mar. 31, 2025 951,115,543 908,460,689 [1]       42,654,854
Capital contributions 361,881 361,881 [1]        
Capital distributions (22,267,142) (22,267,142) [1]        
Net income (loss) 32,858,768 23,669,603 [1]       9,189,165
Ending balance at Jun. 30, 2025 962,069,050 910,225,031 [1]       51,844,019
Beginning balance at Dec. 31, 2025 1,079,112,888 [2] 1,016,418,004 [3]       62,694,884 [2]
Capital contributions 61,719,111 [2] 61,719,111 [3]        
Capital distributions (53,090,720) [2] (47,430,162) [3]       (5,660,558) [2]
Net income (loss) (220,259,880) [2] (215,276,418) [3]       (4,983,462) [2]
Ending balance at Apr. 30, 2026 867,481,399 [2] 815,430,535 [3]       52,050,864 [2]
Beginning balance at Dec. 31, 2025 1,079,112,888 [2] 1,016,418,004 [3]       62,694,884 [2]
Net income (loss) (199,078,447)          
Ending balance at Jun. 30, 2026 1,409,179,576          
Ending balance at Jun. 30, 2026 [2] 1,409,179,576   $ 400,000 $ 1,335,576,463 $ 24,961,996 48,241,117
Beginning balance at Mar. 31, 2026 884,478,016 [2] 838,387,470       46,090,546 [2]
Capital contributions 61,533,704 [2] 61,533,704        
Capital distributions (16,804,074) [2] (16,804,074)        
Net income (loss) (61,726,247) [2] (67,686,565)       5,960,318 [2]
Ending balance at Apr. 30, 2026 867,481,399 [2] 815,430,535 [3]       52,050,864 [2]
Beginning balance at Mar. 31, 2026 884,478,016 [2] 838,387,470       46,090,546 [2]
Net income (loss) (40,544,814)          
Ending balance at Jun. 30, 2026 1,409,179,576          
Ending balance at Jun. 30, 2026 [2] 1,409,179,576   400,000 1,335,576,463 24,961,996 48,241,117
Beginning balance at Apr. 30, 2026 867,481,399 [2] 815,430,535 [3]       52,050,864 [2]
Conversion to Corporation   $ (815,430,535) [3]   815,430,535 [2]    
Capital contributions [2] 610,223,497   400,000 609,823,497    
Capital distributions [2] (29,184)       (29,184)  
Net income (loss) [2] 21,181,433       24,991,180 (3,809,747)
Deferred tax effects resulting from changes in equity (134,450,348)     (134,450,348)    
Equity-based compensation [2] 44,772,779     44,772,779    
Ending balance at Jun. 30, 2026 1,409,179,576          
Ending balance at Jun. 30, 2026 [2] $ 1,409,179,576   $ 400,000 $ 1,335,576,463 $ 24,961,996 $ 48,241,117
[1] Pershing Square Holdco GP, LLC, the general partner of Pershing Square Holdco, L.P., did not have a capital balance at any time during the periods disclosed and is therefore not shown in the Consolidated Statements of Changes in Equity.
[2] During the periods presented, Pershing Square Inc. also had one special voting share outstanding with par value $0.001.
[3] Pershing Square Holdco GP, LLC, the general partner of Pershing Square Holdco, L.P., did not have a capital balance at any time during the periods disclosed and is therefore not shown in the Consolidated Statements of Changes in Equity.