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  "documentTitle": "Pershing Square Holdings Portfolio (multi-position) (PSH)",
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      "text": "We believe concerns around META’s AI-related spending initiatives are underestimating the company’s long-term upside potential from AI",
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      "text": "Source: Bloomberg consensus estimates. Pershing Square began purchasing its current investment in META on 11/24/25.",
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      "text": "META vs. S&P 500 valuation table",
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      "text": "Potential Future Narrative Shift: META",
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