$PS
PERSHING SQUARE HOLDCO, L.P.
CIK:0002026053|SEC Filings
Consolidated Statements of Operations - USD ($) shares in Millions |
3 Months Ended | 6 Months Ended | ||||
|---|---|---|---|---|---|---|
Jun. 30, 2026 |
Jun. 30, 2025 |
Jun. 30, 2026 |
Jun. 30, 2025 |
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| Revenue | ||||||
| Total revenues | $ 54,176,772 | $ 53,179,136 | $ 111,683,275 | $ 105,483,725 | ||
| Expenses | ||||||
| Profit-sharing partner compensation | [1] | 69,253,925 | 8,446,608 | 81,020,444 | 23,894,832 | |
| Employee compensation and benefits | 50,307,881 | 3,930,055 | 59,934,686 | 8,070,945 | ||
| General and administrative expense | 12,057,418 | 7,426,352 | 28,044,117 | 17,561,441 | ||
| Affiliates fee rebate | 12,117,456 | 12,658,460 | 26,592,930 | 24,269,983 | ||
| Depreciation and amortization expense | 568,683 | 577,583 | 1,147,919 | 1,155,166 | ||
| 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 | ||
| Non-operating income (expenses) | ||||||
| Other income (expense) | 16,235,548 | 1,332,282 | 12,907,456 | 2,593,313 | ||
| Interest and dividend income | 720,789 | 5,041,063 | 1,348,735 | 15,502,021 | ||
| Unrealized gain (loss) on HHH shares held at fair value | 74,070,000 | 270,000 | (74,520,000) | 270,000 | ||
| Unrealized gain (loss) on PSUS shares held at fair value | (50,350,000) | (50,350,000) | ||||
| Unrealized gain (loss) on investment in PSLP held at fair value | [1] | 2,149,815 | 8,577,450 | (8,793,965) | 8,670,578 | |
| Interest expense | (2,511,017) | (574,480) | (3,025,313) | (1,162,466) | ||
| Total non-operating income (expenses) | 40,315,135 | 14,646,315 | (122,433,087) | 25,873,446 | ||
| Net income (loss) before taxes | (49,813,456) | 34,786,393 | (207,489,908) | 56,404,804 | ||
| Income tax expense (benefit) | (9,268,642) | 1,927,625 | (8,411,461) | 3,721,974 | ||
| Net income (loss) | (40,544,814) | 32,858,768 | (199,078,447) | 52,682,830 | ||
| Less: Net (income) loss attributable to non-controlling interest | (2,150,571) | (9,189,165) | 8,793,209 | (9,282,397) | ||
| Net income (loss) attributable to PS Inc. | $ (42,695,385) | $ 23,669,603 | $ (190,285,238) | $ 43,400,433 | ||
| Net income (loss) per share of common stock | ||||||
| Net income (loss) per share of common stock, basic | $ (0.11) | $ 0.06 | $ (0.48) | $ 0.11 | ||
| Net income (loss) per share of common stock, diluted | $ (0.11) | $ 0.06 | $ (0.48) | $ 0.11 | ||
| Weighted-average shares of common stock outstanding | ||||||
| Weighted Average Number of Shares Outstanding, Basic | 400 | 400 | 400 | 400 | ||
| Weighted-average shares of common stock outstanding,diluted | 400 | 400 | 400 | 400 | ||
| Management fees, net of contra-revenue | ||||||
| Revenue | ||||||
| Total revenues | $ 54,175,665 | $ 50,757,686 | $ 111,682,168 | $ 102,960,055 | ||
| Performance Fees | ||||||
| Revenue | ||||||
| Total revenues | [1] | $ 1,107 | $ 2,421,450 | $ 1,107 | $ 2,523,670 | |
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Consolidated Statements of Financial Condition - USD ($) |
Jun. 30, 2026 |
Dec. 31, 2025 |
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|---|---|---|---|---|---|---|---|
| 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 | |||||
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