Quarterly ResultJun 4, 2026, 05:06 PM
Pershing Square Holdco Q1 Net Loss $147.6M; IPO & Corporate Conversion
AI Summary
Pershing Square Holdco, L.P. reported a net loss of $147.6 million for the first quarter of 2026, primarily driven by a $148.6 million unrealized loss on its investment in Howard Hughes Holdings Inc. Despite the loss, total revenue increased to $57.5 million. The company also noted significant corporate actions post-quarter end, including its conversion to Pershing Square Inc. on April 28, 2026, and the completion of Pershing Square USA, Ltd.'s initial public offering on April 30, 2026.
Key Highlights
- Net loss attributable to Pershing Square Holdco, L.P. was $147.6 million for Q1 2026.
- Total revenue for Q1 2026 was $57.5 million, up from $52.3 million in Q1 2025.
- Unrealized loss on HHH shares held at fair value was $148.6 million in Q1 2026.
- Total assets decreased to $990.5 million as of March 31, 2026, from $1.7 billion on Dec 31, 2025.
- Performance fees were $0 in Q1 2026, down from $102,220 in Q1 2025.
- Corporate Conversion to Pershing Square Inc. became effective April 28, 2026.
- Pershing Square USA, Ltd. (PSUS) completed its initial public offering on April 30, 2026.
Price Impact
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