If there's one thing Wall Street doesn't lack, it's data. Between earnings season and monthly economic data releases, it can be easy for investors to get overwhelmed and miss something important.

Roughly five weeks ago, during the heart of earnings season, what's arguably the most important data release of the quarter occurred. I'm talking about the May 15 deadline for institutions to file Form 13F with the Securities and Exchange Commission. A 13F offers investors an under-the-hood look at what Wall Street's smartest and most-successful money managers bought and sold in the latest quarter (in this instance, the quarter ending March 31).

As you can imagine, investors tend to pay the closest attention to what Wall Street's brightest billionaire investors are doing. This includes Pershing Square Capital Management's Bill Ackman, who oversees more than $10 billion of invested assets for his fund.

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Source Fool.com