PERSHING SQUARE INC.
For the period ended Mar 31, 2026. Filed Jun 4, 2026.
View on SEC.govAbout this filing
A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Mar 31, 2026 · Filed Jun 4, 2026
PS$44.20-14.9%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
See the whole filing, with its images and exhibitsContents
Consolidated Statements of Cash Flows (Unaudited)
| Three months ended March 31, | ||
|---|---|---|
| 2026 | 2025 | |
| Cash flows from operating activities | ||
| Net income (loss) | $(158,533,633) | $19,824,062 |
| Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities: | ||
| Unrealized (gain) loss on HHH shares held at fair value | 148,590,000 | — |
| Write-off of deferred sublease incentive | 4,129,121 | — |
| Amortization of deferred HHH Services Agreement premium | 3,659,625 | — |
| Depreciation and amortization expense | 579,236 | 577,583 |
| Non-cash lease expense | 286,090 | 554,973 |
| Amortization of LTIP grants in profit-sharing partner compensation | 185,407 | 357,904 |
| Changes in operating assets and liabilities: | ||
| Performance fees receivable | 497,330,469 | 232,617,820 |
| Due from affiliates | 7,985,269 | (8,846,702) |
| Prepaid expenses | (2,408,361) | 380,908 |
| Investment in Pershing Square, L.P. | 24,618,437 | 9,979,364 |
| Other assets | 3,152,939 | 321,218 |
| Accrued compensation and benefits | (410,695,134) | (159,632,825) |
| Affiliates fee rebate payable | (24,143,741) | (21,661,699) |
| Taxes payable | (16,766,529) | (12,641,929) |
| Accounts payable | 10,168,967 | 4,041,636 |
| Deferred tax liability | 699,146 | — |
| Operating lease liabilities | (941,162) | (929,700) |
| Deferred sublease incentive | — | 127,703 |
| Net cash provided by (used in) operating activities | 87,896,146 | 65,070,316 |
| Cash flows from investing activities | ||
| Purchases of fixed assets and leasehold improvements | (13,505) | (46,451) |
| Net cash provided by (used in) investing activities | (13,505) | (46,451) |
| Cash flows from financing activities | ||
| Payments for capital distributions | (90,574,764) | (88,539,348) |
| Offering costs for Pershing Square USA, Ltd. | (5,860,505) | (609,686) |
| Net cash provided by (used in) financing activities | (96,435,269) | (89,149,034) |
| Net change in cash and cash equivalents and restricted cash | (8,552,628) | (24,125,169) |
| Cash and cash equivalents and restricted cash, beginning of period | 55,516,702 | 964,975,448 |
| Cash and cash equivalents and restricted cash, end of period | $46,964,074 | $940,850,279 |
Consolidated Statements of Cash Flows (Unaudited - continued)
| Three months ended March 31, | ||
|---|---|---|
| 2026 | 2025 | |
| Supplemental disclosures: | ||
| Cash paid during the period for income tax | $19,277,871 | $14,650,747 |
| Cash paid during the period for interest | 555,079 | 630,854 |
| Non-cash activities: | ||
| Capital contributions | 185,407 | 357,904 |
| Reconciliation of cash and cash equivalents and restricted cash | ||
| Cash and cash equivalents | 46,845,139 | 940,731,344 |
| Restricted cash | 118,935 | 118,935 |
| Total cash and cash equivalents and restricted cash, end of period | $46,964,074 | $940,850,279 |
PERSHING SQUARE HOLDCO, L.P.
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.