Pershing Square is trading 4.26% up at $43.16 after investors continued reacting to its August 12 second-quarter report.

  • The company highlighted strong investment performance, record $32.5 billion AUM, and projected 15–20% full-year 2026 fee-related earnings growth.
  • The earnings release was followed by a 6.70% gain on August 13, while fee-paying AUM increased substantially following the PSUS launch.
  • Management emphasized a transition toward more durable, growth-oriented fee revenue.