Pershing Square Q2 2026 AUM rises 31% on PSUS growth
Fee-paying assets under management at Pershing Square surge to $12.7 billion, driven by gains in PSUS, the firm's U.S. SPAC vehicle.
Pershing Square Capital Management reported a 31% increase in fee-paying assets under management (AUM) for the second quarter of 2026, driven by growth in its U.S. SPAC vehicle, Pershing Square US (PSUS).
The firm’s fee-paying AUM reached $12.7 billion as of the end of Q2 2026, up from $9.7 billion in the prior quarter, according to slides released by Pershing Square. The surge was primarily attributed to the performance and capital inflows into PSUS, which invests in special purpose acquisition companies (SPACs) targeting U.S. businesses.
PSUS has been a key driver of Pershing Square’s recent expansion, benefiting from heightened investor interest in SPACs amid a resurgence in the U.S. market. The vehicle’s assets have grown alongside broader market trends favoring alternative investment structures.
Pershing Square has not provided additional commentary on the performance of individual holdings within PSUS or broader market conditions in the slides. The firm’s next investor update is expected in the coming weeks.
The increase in fee-paying AUM reflects Pershing Square’s ability to attract capital in a competitive investment landscape, though the firm has faced challenges in recent years, including underperformance in some traditional equity strategies.
PSUS, launched in 2023, has become a focal point for the firm’s growth strategy, positioning Pershing Square to capitalize on opportunities in the SPAC market.
Priya covers listed equities and corporate earnings, reading quarterly results and guidance for what they signal about sector health and forward valuations.
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