Pershing Square Swings to Q3 Loss as Fee Earnings Rise 13%

Pershing Square Inc. swung to a $19.883 million net loss attributable to the company in the third quarter, while fee-related earnings climbed 13% to $63.656 million, a sharp contrast with year-earlier profit. Net income was $155.462 million in the third quarter of 2025, and GAAP revenue declined to $56.604 million from $66.192 million. Pershing Square is the parent of Pershing Square Capital Management, which manages investment funds and other companies. Fee-related earnings, the company’s non-GAAP measure of fee-driven operating profitability, rose from $56.476 million in the comparable quarter.

Source: TokenPost