Consolidated Statements of Operations - USD ($)		3 Months Ended
		Mar. 31, 2026	Mar. 31, 2025
Revenue
Total revenues		$ 57,506,503	$ 52,304,589
Expenses
General and administrative expense		15,986,699	10,135,089
Affiliates fee rebate		14,475,474	11,611,523
Profit-sharing partner compensation	[1]	11,766,519	15,448,224
Employee compensation and benefits		9,626,805	4,140,890
Depreciation and amortization expense		579,236	577,583
Total expenses		52,434,733	41,913,309
Operating income (loss)		5,071,770	10,391,280
Non-operating income (expenses)
Interest income		627,946	10,460,958
Unrealized gain (loss) on HHH shares held at fair value		(148,590,000)
Unrealized gain (loss) on investment in Pershing Square, L.P. held at fair value	[1]	(10,943,780)	93,128
Other income (expense)		(3,328,092)	1,261,031
Interest expense		(514,296)	(587,986)
Total non-operating income (expenses)		(162,748,222)	11,227,131
Net income (loss) before taxes		(157,676,452)	21,618,411
Income tax expense		857,181	1,794,349
Net income (loss)		(158,533,633)	19,824,062
Less: Net (income) loss attributable to non-controlling interest		10,943,780	(93,232)
Net income (loss) attributable to Pershing Square Holdco, L.P.		(147,589,853)	19,730,830
Management Fees
Revenue
Total revenues		57,506,503	52,202,369
Performance Fees
Revenue
Total revenues	[1]	$ 0	$ 102,220

[1] Includes amounts attributable to consolidated VIEs for which Pershing Square Holdco, L.P. does not have any direct equity interests.