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PERSHING SQUARE INC. (PS) reported an insider Form 4 in which William A. Ackman, through indirect ownership, made a bona fide gift of 10,000,000 shares of common stock on 2026-08-17 to The Ackman Oxman Institute (AOI), a charitable foundation where he and his spouse serve as directors and share voting and investment power. The transfer was for no consideration and is intended to support AOI’s long-term operations and charitable activities, and AOI agreed to the same lock-up restrictions as Ackman in connection with the initial public offering. One entry reports 1,500,000 shares of PS common stock held directly by Ackman after the reported transactions, and additional indirect holdings are reported through WAA Management LLC, a grantor retained annuity trust, a spouse-owned LLC, and family trusts, with Ackman disclaiming beneficial ownership except to the extent of any pecuniary interest.
Pershing Square Management, LLC and Pershing Square Partner Group, LLC (PSPG), both Delaware LLCs, report significant ownership of Pershing Square Inc. common stock. Pershing Square Management is deemed to beneficially own 300,268,979 shares, representing 75.1% of the 400,000,000 shares outstanding as of August 10, 2026, with 115,979,280 shares under sole voting power via an irrevocable voting proxy and an additional 184,289,699 shares under shared voting and dispositive power. PSPG directly holds 184,289,699 shares (about 46.1% of the class), which underlie M Units granted to applicable personnel and are ultimately managed by Pershing Square Management. A Special Voting Share held by Pershing Square Management has no economic rights but provides sufficient votes, together with its other voting power, to maintain majority voting control.
Ryan Israel reports beneficial ownership of Pershing Square Inc. common stock totaling 31,099,877 shares, representing 7.8% of the outstanding class, based on 400,000,000 shares outstanding as of August 10, 2026. This includes 9,144,214 shares directly held and 21,955,663 shares underlying unvested M Units that may be redeemed for common stock held by Pershing Square Partner Group, LLC, initially on a one-for-one basis, subject to adjustments.
Pershing Square Management, LLC, as managing member of Pershing Square Partner Group and under a Voting Proxy Agreement, has sole voting power over these shares. Mr. Israel therefore shows no sole or shared voting power, but sole dispositive power over 9,144,214 shares and shared dispositive power over 21,955,663 shares. Control of Pershing Square Management is shared among six members, who each disclaim beneficial ownership of shares attributed to the others for Section 13(d) purposes.
Pershing Square Inc. is reported to have a significant shareholder group led by William A. Ackman and WAA Management LLC. William A. Ackman is deemed to beneficially own 181,302,229 shares of Common Stock, representing 45.3% of the outstanding class, based on 400,000,000 shares outstanding as of August 10, 2026.
His beneficial ownership includes 1,500,000 shares held directly, 86,493,537 shares underlying vested M Units exchangeable into Common Stock held by Pershing Square Partner Group, LLC, 76,825,763 shares held by WAA Management LLC, and additional shares held by a GRAT, family trusts, and a spouse-owned LLC. WAA Management LLC separately reports beneficial ownership of 163,319,300 shares, or 40.8% of the class.
Pershing Square Management, LLC holds sole voting power over 180,821,400 of the reported shares under a Voting Proxy Agreement with Mr. Ackman, WAA Management LLC and The PS 2026 GRAT. Voting control of Pershing Square Management, LLC is shared among six members, including Mr. Ackman, and each member disclaims beneficial ownership of shares attributed to the others for Section 13(d) purposes.
Pershing Square Inc., an institutional investment manager, filed a Form 13F holdings report indicating that it is reporting all of its discretionary equity holdings in this filing. The report, signed by William A. Ackman as Authorized Signatory, lists 15 reportable positions with an aggregate Form 13F information table value of 19,465,692,772 (rounded to the nearest dollar).
The filing notes 6 other included managers associated with these holdings, including Pershing Square Capital Management, L.P. and several related Pershing Square entities. This provides a consolidated view of the reportable U.S.-listed equity securities managed across the Pershing Square platform.
Pershing Square Inc. reported consolidated total assets of $1.81 billion and equity of $1.41 billion as of June 30, 2026, following its Corporate Conversion and IPO completed in April 2026, with 400 million common shares and 1 Special Voting Share outstanding.
For the six months ended June 30, 2026, the company generated revenue of $111.7 million, primarily management fees, but recorded a net loss attributable to Pershing Square Inc. of $190.3 million, compared with net income of $43.4 million a year earlier. Results reflected higher profit-sharing and employee compensation, amortization of new intangible assets, and fair value movements on investments, including an unrealized loss on PSUS and HHH for the year-to-date period.
Operating cash flow improved to a net inflow of $113.3 million versus a large outflow in the prior year, while the company increased loans payable to $232.0 million and invested in HHH and PSUS, both carried at fair value alongside a significant deferred asset related to IPO share issuance.
Pershing Square Inc. reported financial results for the second quarter ended June 30, 2026 and made its press release and earnings presentation available, along with a shareholder letter from CEO Bill Ackman and CIO Ryan Israel, on its website. The company describes itself as an alternative asset manager focused on permanent capital and long-term, high-return strategies, with growth driven by compounding assets under management and launching new permanent capital vehicles.
The company highlighted that, following its initial public offering and related corporate conversion, it is now subject to U.S. federal, state and local corporate income taxes, although it did not incur corporate income tax in the second quarter of 2026. Management emphasizes non-GAAP metrics Fee-Related Earnings (FRE) and Distributable Earnings (DE), which adjust GAAP results for performance-fee allocations, non‑recurring items and tax effects to show fee-driven operating profitability and cash available for dividends.
Pershing Square noted asset movements linked to the April 30, 2026 PSUS IPO and related private placement, including investor withdrawals and redemptions from PSLP and PSINTL that reduced AUM and Fee-Paying AUM but were reinvested into PSUS and Pershing Square stock. The company also described its long-dated amortization of intangible assets tied to IPO share grants and the Howard Hughes Holdings (HHH) services agreement, and reiterated that non-GAAP measures and AUM metrics are supplemental to GAAP net income.
Pershing Square Inc. furnished a detailed financial supplement covering the quarter ended March 31, 2026 and the month ended April 30, 2026, highlighting assets under management (AUM), fee-paying AUM, and non-GAAP fee-related earnings (FRE) and distributable earnings (DE).
Total AUM across core funds and Howard Hughes Holdings Inc. rose to $33,016 million as of April 30, 2026, up from $26,602 million at March 31, 2026, driven largely by the Combined Transaction and PSUS initial public offering, which added about $4,879 million of AUM. Fee-paying AUM increased to $23,276 million from $16,970 million over the same period.
For Q1 2026, FRE was $47.7 million, up from $42.4 million in Q1 2025, on FRE revenue of $61.2 million. Q1 2026 DE was $47.8 million, modestly below $52.3 million a year earlier, as the company absorbed higher expenses and amortization related to recent strategic transactions.
Pershing Square Inc. filed a Form 13F reporting its institutional holdings. The report lists 1 Form 13F information table entry with a total market value of $569,340,000 as shown on the summary page. The filing was signed by William A. Ackman on 05-15-2026.