PERSHING SQUARE INC. — Form 8-K
Filed November 2, 2026 · analyzed by the 8-K Agent
8-K
— Neutral
significance 28/100
What the filing says
Pershing Square Inc. reported Q3 2026 results with total AUM of $32.8B (up 0.9% quarterly, 6.9% YTD), FPAUM of $23.0B (up 3.2% quarterly), and distributable earnings of $49.5M or $0.12/share (down 12% YoY to $0.14/share). The firm paid a dividend of $0.103/share on October 20, 2026. Management fees grew to $75.6M (Q3; up from $56.6M YoY), but GAAP net loss reached -$19.9M due to $3.5M unrealized losses on PSUS shares and $19.2M fair-value losses on HHH holdings. Fee-Related Earnings margin improved to 84.2%, but net income declined sharply due to mark-to-market losses on equity holdings.
Why this rating
Routine quarterly earnings disclosure. AUM growth modest; distributable earnings stable but below prior year. Fee revenue growth offset by unrealized mark-to-market losses—typical for asset manager. Immaterial relative to $1.8B asset base.
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