Twelve of 147: One Holder Is 61.3% of the Superinvestors' Prologis Stake. Its Insiders Have Bought Once.

GetCoattail Research — The Filing Tape #89. Prologis reported third-quarter earnings today and beat the FFO consensus, and the filings describe a logistics landlord the full market kept adding to while the tracked cohort stayed concentrated: 12 of the 147 superinvestors we track hold it and one is 61.3% of that stake, six of the twelve trimmed in Q2, its insiders sold once in 90 days against exactly one open-market purchase — of 13 shares — in the entire parsed record, Congress appears in none of our three aggregates, the 5% register holds no 13D-family filing at all, and the borrow has risen 61.1% in a year to 2.03% of the share count.

The Hype

Prologis is the San Francisco logistics landlord behind much of the world's warehouse space, and today is its earnings day. It reported third-quarter 2026 results on October 15, with funds from operations of $1.60 per share against a $1.58 Zacks consensus — a 1.27% surprise — on revenues of $2.21 billion that topped the consensus by 0.24%, against $2.05 billion a year ago, according to Zacks, which notes it has beaten FFO estimates in three of the last four quarters. The quarter being followed was also a beat: second-quarter FFO, reported July 16, came in at $1.63 against a $1.53 consensus, on revenues of $2.18 billion that beat by 1.68%. Barchart's earnings spotlight named Prologis second among Thursday's reporters, behind only Charles Schwab and ahead of BNY, U.S. Bancorp and PNC, and StockTwits' premarket rundown carried it in the same list. It also paid its quarterly dividend of $1.07 a share on September 30. Shares opened Thursday at $130.50. Our price file is more muted: the stock closed October 2 at $128.91, down 14.1% from its 252-session closing high of $150.06 on July 16, and up just 1.0% year to date. The filings below describe who held it, who sold it, and who was borrowing it.

The Tape

For Prologis — the eighty-ninth Filing Tape audit, on the expanded roster described in the notes — the tape shows a 12-name cohort whose largest holder is almost two-thirds of the position, a full market that added filers and shares, an insider record with 1 sale in a quarter against one 13-share purchase in its whole history here, no congressional row in any aggregate, a 5% register with no 13D-family filing, and a borrow that has built for a year while staying below its 2022 peak.

Lens 1 — the superinvestors: 12 holders, one of them 61.3% of the stake. We now track 149 large, mostly long-only managers whose 13F portfolios we collect directly from SEC EDGAR — 147 filed for the second quarter (see the roster note below). As of June 30, 2026, 12 held Prologis long, totalling 11,366,218 shares worth $1,535,923,387, with no option rows, under a single CUSIP. CenterSquare Investment Management is the largest holder, with 6,971,950 shares worth $944,490,067 — 61.3% of the cohort — at an 8.06% portfolio weight, labelled INCREASED (+11.9%). Resolution Capital holds 1,788,986 shares worth $242,353,933 — 15.7% of the cohort — labelled DECREASED (-24.1%), the deepest cut in the register; the top two together are 77.1% of the position. Mondrian Investment Partners is third at 1,033,598 shares, labelled INCREASED (+9.5%); the remaining nine run from Sarasin & Partners' 685,281 shares down to Guinness Asset Management's 2,264. Of the 12 continuing holders, 6 are labelled DECREASED, 4 INCREASED and 2 UNCHANGED, and no manager is NEW or exited in full. This audit does not publish a quarter-to-quarter cohort total: 11 of the 12 continuing holders verify row by row and one does not, and we do not publish a cohort total built on partial verification (see methodology). 13F figures are as of June 30, 2026; funds have up to 45 days to file, so this picture is complete — and always lagging.

Lens 2 — institutions: 80 more filers, 128.8 million more shares. At June 30, 2026, 1,726 institutions reported positions, up 80 from 1,646 at March 31 (+4.86%); 1,719 are long. Reported shares rose 17.26%, from 746,266,389 to 875,048,142 — a gain of 128,781,753 shares. Reported value rose 22.43% to $112,750,463,822, labelled "reported" because the aggregate includes option rows (see methodology). The flow fields agree: 1,414 filers entered and 1,334 exited, a net of +80 matching the holder-count change.

Lens 3 — insiders: 1 sale in 90 days, and one purchase of 13 shares in the entire parsed record. The parsed Form 4 record holds 147 filings through October 2, 2026, and across all of it there is exactly one open-market purchase transaction: 13 shares for $1,395.42, by 1 buyer — and it is not an officer purchase. It sits inside the one-year window: the last 90 days hold 0 purchases, and the one-year window holds that same single purchase. Sale transactions number 14 across the full record: 172,326 shares for $22,572,878.60, by 7 sellers. The last 90 days hold 1 sale: 50,000 shares for $7,495,500.00, by 1 seller. The one-year window holds 10 sales (134,829 shares, $18,315,034.82, 5 sellers) beside the single 13-share purchase.

Lens 4 — Congress: no row in any of the three aggregates. The combined record (as of October 3, 2026), the House aggregate (same date) and the Senate aggregate (as of October 1, 2026) each carry no row for this name — a recorded absence in all three files, not an estimate of zero trades by any other route.

Lens 5 — the 5% register: five filings, all passive, no 13D at all. Our full parse holds 5 SC 13D/G filings matching the site aggregate exactly — no SC 13D-family filing and five SC 13G-family filings (three SC 13G/A and two SC 13G), three of the five amendments, with five reporting-person rows across four names — most recently filed June 4, 2026. The register maximum is 10.0%: BlackRock, Inc. reports 93,407,943 shares as of May 31, 2026, filed June 4, 2026 as SC 13G/A, and that filing is also the register's latest. BlackRock's earlier row prints 86,220,147 shares at 9.3% as of June 30, 2025. The Vanguard rows are separate reporting persons as filed: Vanguard Capital Management at 70,146,227 shares and 7.52% as of March 31, 2026, Vanguard Portfolio Management at 53,991,110 shares and 5.79% on the same date, and The Vanguard Group at 0 shares (0.0%).

Lens 6 — short interest: 18,883,429 shares, up 61.1% in a year, 11.8% below the 2022 peak. The series covers all 137 FINRA settlements in the collection, from January 15, 2021 to September 15, 2026, with a Prologis row at every settlement — no symbol gap. As of September 15, 2026, 18,883,429 shares were sold short, up 6.60% from the prior settlement (17,714,037 on August 31, 2026), at 5.94 days to cover. The series maximum is 21,408,598 shares on September 30, 2022 (verified by a maximum query over the series), so the latest reading sits 11.8% below the peak; the series minimum is 7,174,118 shares on April 15, 2021. Against the year-ago settlement (11,720,242 on September 15, 2025) the latest is up 61.1%, and against the June 30, 2026 settlement of 13,048,598 shares it is up 44.7%. Against 932,338,000 shares outstanding, the borrow is 2.03% of the share count.

The Gap

The narrative arriving with today's report is delivery: an FFO beat this morning — $1.60 against $1.58 — after a larger one in July, revenue beats in both quarters, a $1.07 dividend paid in September, and a full market that spent Q2 adding this landlord: 80 more filers and 128,781,753 more shares, a 17.26% build, in a quarter when the price rose just 2.5%. The filings describe the tracked cohort's part in narrower terms. Twelve of 147 managers hold the name at all. The position is concentrated — CenterSquare alone is 61.3% of it, the top two are 77.1% — and it leaned both ways: six holders are labelled DECREASED, including the second-largest, whose -24.1% is the deepest cut, against four increases led by the largest holder's +11.9%. The insider record is thinner still: one purchase of 13 shares in the entire parsed record, none in the last 90 days, against 14 sales, 1 of them in the last 90 days for $7,495,500.00. Congress is not a small print here; it is no print at all — no row in the combined, House or Senate aggregates. The 5% register holds no activist and no 13D-family filing: its five prints are BlackRock and Vanguard entities, the largest at 10.0%. And the borrow is the one lens moving the other way: 18,883,429 shares, 2.03% of the share count, up 61.1% from a year ago and 44.7% since the June 30 settlement, even as it stays 11.8% below its September 2022 peak. One plausible reading is that the quarter's buying was broad and institutional while the tracked cohort's conviction stayed narrow and concentrated, and the borrow quietly rebuilt against it. The record supports each clause separately; it does not say what this morning's earnings change.

What Would Change the Picture

Nothing above is a recommendation. It is a record. These filings would change it:

• 1. The 2026Q3 13Fs (filing window closing mid-November 2026). The cohort held 11,366,218 shares at June 30, with CenterSquare at 61.3% of it and six of twelve holders labelled DECREASED. Whether CenterSquare's three-fifths share of the cohort moves — and whether a thirteenth tracked manager appears — decides whether the register reads as one specialist's position or a broadening base.
• 2. A second insider purchase, or a stop in the selling. The parsed record holds one purchase of 13 shares against 14 sales, with 1 sale in the last 90 days alone. A second purchase of any size would be this lens's first new fact of its kind; a quarter without sales would soften it the other way.
• 3. A first congressional row. The combined, House and Senate aggregates all carry no row for this name. A single reported transaction in any of the three files changes a lens that is currently an absence.
• 4. A first 13D, or a change on the BlackRock register. The register's 5 filings are all passive 13G-family prints, the largest at 10.0% as of May 31, 2026. A first activist-style 13D, or a materially different BlackRock print, would be this lens's first change of kind.
• 5. Short interest picking a direction. The borrow stands at 18,883,429 shares, up 61.1% from a year ago but 11.8% below the September 30, 2022 peak of 21,408,598 and up 6.60% at the latest settlement. A sustained build through that 2022 peak would complete the year-long rebuild; a renewed decline unwinds it.

Related reading: Six of 147: One Holder Is 67.0% of the Superinvestors' U.S. Bancorp Stake. Its Insiders Have Bought Once. — Filing Tape #88; Twenty-Two of 147: One Holder Is 52.3% of the Superinvestors' Schwab Stake. Its Insiders Have Bought Once. — Filing Tape #87. Prologis' own page: Prologis (PLD) on GetCoattail.

Methodology and data notes

• As-of & limits: The lenses rest on different clocks, none live: 13F is a June 30, 2026 snapshot published up to 45 days later; Form 4 runs through October 2, 2026; Congress aggregates run through October 3, 2026 (Senate file through October 1, 2026); 13D/G through June 4, 2026; short interest through September 15, 2026; the price file ends October 2, 2026. Two limits are specific to this audit. First, the roster expanded before the recent audits — from 85 managers (83 filing) to 149 (147 filing) — so "of 147" counts are not comparable to earlier pieces' "of 83" figures. Second, this morning's third-quarter earnings postdate every lens here and are known to this audit only from outside coverage, not from our own files.
• Superinvestor lens: 147 filing managers (of a 149-manager roster) collected directly from SEC EDGAR Form 13F (managers_13f collection, regenerated October 15, 2026 for the expanded roster), positions as of June 30, 2026; Prologis identified by its single cohort CUSIP 74340W103. Twelve distinct managers hold long positions totalling 11,366,218 shares; there are no option rows for this name in the collection, and the collection's exit list carries no row for this name. The direction count on the collection's labels, across the long rows, is six DECREASED, four INCREASED and two UNCHANGED. CenterSquare Investment Management's share of the cohort is 61.3% = 6,971,950 / 11,366,218; Resolution Capital's is 15.7% = 1,788,986 / 11,366,218; the top two together are 77.1% = 8,760,936 / 11,366,218. The cohort's reported values imply $135.13 per share against the June 30, 2026 close of $135.47 in our price file, a gap of -0.25% — eleven of the twelve holder rows imply $135.47 to the cent, and Sarasin & Partners' row implies $129.84; those rows are printed here as filed, and the aggregate implied price is the blend. Quarter-to-quarter cohort totals are not published in this audit: following the rule used in the previous audits, each continuing holder's first-quarter row was accepted only when (a) it sits under the same filing-agent prefix as the manager's second-quarter accession — the pipeline files' accession prefixes identify filing agents, not managers, and several prefixes are shared — and (b) the row's implied shares-change reproduces the manager's EDGAR shares-change label at one decimal place. Eleven of the 12 continuing holders verify exactly that way; Sarasin & Partners does not, so no cohort total is built on the partial verification. The site pipeline's holdings files cover 147 accessions (the expanded roster): their second-quarter CUSIP total (12 rows, 11,381,128 shares) is not the cohort — it differs from the EDGAR cohort by 14,910 shares, exactly the gap on the Sarasin & Partners row (700,191 shares in the pipeline file against 685,281 in the cohort).
• Full-market lens: SEC Form 13F Data Sets full-market aggregation. The primary table is the full13f collection's by-ticker file (holders = distinct filers reporting the ticker's CUSIP; 1,719 reported long positions out of 1,726 filers). Prologis carries a single CUSIP in this aggregation (74340W103), and the backfill fixtures' by-CUSIP row for it matches the by-ticker row on every field — holders, long holders, shares, reported value, prior holders and prior reported value — exactly. The by-ticker file's entered/exited fields (1,414 and 1,334, a net of +80 that matches the change in holder count) are gross flows, so this audit headlines the net change. Reported-value caution: the aggregate value ($112,750,463,822 over 875,048,142 shares) implies $128.85 per share against a June 30, 2026 close of $135.47 in our price file, a gap of -4.89% — printed here as found. The aggregate sums the VALUE of every information-table row — including put and call option rows — while the share count covers long common-stock rows only, so we headline filer and share counts and label dollar values "reported."
• Insider lens: full-parse Form 4 aggregation (agg_by_ticker), record as of October 2, 2026 (147 filings). Sale and purchase counts are transaction-code counts (S and P) in non-derivative rows; grants and exercises are not counted as purchases, and one filing can contain many transaction rows. Purchase transactions total one in the full parsed record — 13 shares for $1,395.42, by one buyer, and the one purchase is not an officer purchase transaction — and sale transactions total 14 across the record (172,326 shares, $22,572,878.60, 7 sellers, 3 of them officer sales), 10 in the one-year window (October 3, 2025 to October 2, 2026; 134,829 shares, $18,315,034.82, 5 sellers) and 1 in the 90-day window (July 5 to October 2, 2026; 50,000 shares, $7,495,500.00, 1 seller, and that sale is not an officer sale transaction), with zero purchases in the 90-day window and the single purchase inside the one-year window. The site's insider aggregate (compiled as of October 15, 2026, over its own 90-day window) reports 0 purchases, 1 sale and 1 seller with $7,495,500.00 of sale value — an exact match to the full parse's 90-day window (1 sale). The full-parse aggregate's sale totals imply $149.91 per share for the 90-day window, $135.84 for the one-year window and $130.99 for the full record, each inside the traded close range of its window on our price file ($128.18 to $150.06 for the 90-day window, $111.23 to $150.06 for the one-year window, and $89.76 to $173.01 across the price file), so the sale totals are cited as figures in this article. The single purchase's total implies $107.34 per share, which sits below the one-year window's close range on our close-only price file ($111.23 to $150.06): the purchase is 13 shares, our file records closes rather than intraday lows, and we cite the purchase exactly as filed without using it as a price signal. "Its insiders have bought once" in this audit means one purchase transaction in the parsed Form 4 record we maintain; it is a statement about that record, not about any individual's complete history.
• 13D/G lens: full-parse SC 13D/G parsed filings (5 filings matching issuer CIK 1045609 on CUSIP 74340W103: three SC 13G/A and two SC 13G, the /A filings being amendments; there is no SC 13D-family filing for this issuer in the parsed coverage), filings through June 4, 2026. The site aggregation carries this name under a ticker-keyed row; that row (5 filings, 0 D-filings, 5 G-filings, 3 amendments, 4 reporters, latest date June 4, 2026, maximum 10.0% and 303,765,427 reported shares) matches the parsed filings on filings, form mix, amendments, latest date, maximum and reported-share total. The parsed reporting-person rows sum to 303,765,427 shares, but that total sums reporting-person rows across different dates, so it is not used as a stake figure in the article. The rows are reported as filed, under the names exactly as they appear: BlackRock, Inc. printing 86,220,147 shares at 9.3% as of June 30, 2025, filed July 17, 2025 as SC 13G/A, and 93,407,943 shares at 10.0% as of May 31, 2026, filed June 4, 2026 as SC 13G/A; The Vanguard Group printing 0 shares at 0.0% as of March 13, 2026, filed March 27, 2026 as SC 13G/A; Vanguard Portfolio Management printing 53,991,110 shares at 5.79% as of March 31, 2026, filed April 29, 2026 as SC 13G; and Vanguard Capital Management printing 70,146,227 shares at 7.52% as of March 31, 2026, filed April 30, 2026 as SC 13G. The BlackRock and Vanguard names are separate reporting persons as filed and are not combined in this audit. The parsed coverage for this issuer holds these 5 filings; a 5% holder that has not filed in the covered window would not appear here.
• Congress lens: Senate PTR archive and House PTR archive as maintained on this site. The combined record (as of October 3, 2026) carries no row for this name; the House aggregate (as of October 3, 2026) carries no row; and the Senate aggregate (as of October 1, 2026) carries no row. This audit reports that as a recorded absence in all three aggregates and does not convert it into a claim about any individual member's trading by any other route.
• Short interest lens: FINRA Equity Short Interest files (biweekly settlement dates), collected directly from FINRA's public distribution. The published series covers all 137 settlements in the collection, from January 15, 2021 (first settlement in the series, 7,224,379 shares) to September 15, 2026, and a Prologis row appears at every settlement — there is no symbol gap in this audit, so the year-over-year comparison is published like-for-like. The latest reading is 18,883,429 shares on September 15, 2026, up 6.60% from the prior settlement (17,714,037 on August 31, 2026). The series maximum is 21,408,598 shares on September 30, 2022 (verified by a maximum query over the series, not read off the latest row), so the latest reading sits 11.8% below the maximum. The year-ago settlement (September 15, 2025) printed 11,720,242 shares, so the latest reading sits 61.1% above a year ago. The series minimum is 7,174,118 shares on April 15, 2021. One comparability note on this series: the files report each settlement as filed and do not restate earlier settlements, and the largest step between consecutive settlements in this series is 1.402x — between the March 15, 2023 settlement (8,873,808 shares) and the March 31, 2023 settlement (12,438,501 shares); our price file shows no split-style discontinuity across that step (closes of $120.01 on March 15, 2023 and $124.77 on March 31, 2023), so the step is reported as a reported build, not a split artefact. The June 30, 2026 settlement printed 13,048,598 shares, so the latest reading sits 44.7% above the 13F snapshot date's borrow. FINRA publishes each settlement about two weeks after the fact, so the October price action is not yet in this series. The share-count ratio (2.03%) uses the fundamentals file's shares-outstanding figure below.
• Fundamentals note: our fundamentals collection carries Prologis's revenue of $8,790,127,000, net income of $3,328,231,000 and assets of $98,724,256,000, each labelled fiscal 2025 in the file. The file is marked ok for this name, with no missing fields: shares outstanding of 932,338,000 (as of April 28, 2026 in the file, sourced in the file to the share count) and a file-computed market value of $119,973,247,011.35. The file does not flag the issuer as a foreign private issuer, and it carries SIC 6798, Real Estate Investment Trusts. The file's price for the name is $128.68 as of October 6, 2026; our daily-close file ends October 2, 2026 at $128.91, and we keep the two files' figures separate rather than blending them.
• Prices: our own daily-close file for Prologis through October 2, 2026 ($128.91 close, +1.0% year to date on that file; the 252-session closing high is $150.06 on July 16, 2026, so the last close sits 14.1% below it; the 252-session closing low is $111.23 on October 10, 2025, so the last close sits 15.9% above it; closes of $132.18 at March 31, 2026 and $135.47 at June 30, 2026, a second-quarter change of +2.5%; change from June 30 to October 2 of -4.8%; change from the September 30, 2025 close of $114.52 of +12.6%). The series in our price file begins June 1, 2021 at $119.83 and holds 1,342 rows; the file's lowest close is $89.76 on April 8, 2025 and its highest close is $173.01 on April 28, 2022.
• Market context sources: Barchart's October 15, 2026 market rundown (checked October 15, 2026; its "Today's U.S. Earnings Spotlight" list names Prologis second among the day's reporters, behind Charles Schwab and ahead of BNY, U.S. Bancorp and PNC); StockTwits' premarket rundown for October 15, 2026 (checked October 15, 2026; its "What Else To Watch On Thursday" earnings list names PNC ahead of Prologis — PNC was not used, for the data reason stated in the notes below); Zacks' earnings report of October 15, 2026 (checked October 15, 2026; Prologis reported third-quarter funds from operations of $1.60 per share against a $1.58 consensus, a 1.27% surprise, on revenues of $2.21 billion that topped the consensus by 0.24% against $2.05 billion a year ago, and has topped FFO estimates in three of the last four quarters); Zacks' earnings report of July 16, 2026 (checked October 15, 2026; second-quarter FFO of $1.63 per share against a $1.53 consensus, a 6.54% surprise, on revenues of $2.18 billion that beat by 1.68%); MarketBeat's earnings report of October 15, 2026 (checked October 15, 2026; shares opened Thursday at $130.50, and a quarterly dividend of $1.07 was paid September 30 to holders of record on September 16 — that report's per-share earnings framing is not used here, because it sets the $1.60 FFO figure against an earnings-per-share consensus; this audit uses the Zacks FFO framing). PNC was not used: our fundamentals collection marks the name partial, with net income missing, so its fundamentals lens is blank. Figures we could not confirm were left out; the external items above are reported speech from those outlets, not GetCoattail measurements.
• Prologis is in the GetCoattail stock-page universe: Prologis (PLD) stock page. Series data: pld_lens_data.csv · pld_short_interest_series.csv. Earlier audits: U.S. Bancorp · Charles Schwab.

Past patterns are not a promise of future results. For education only — not investment advice.

This article describes public filings as of the dates stated. It is not investment advice and makes no recommendation. Filings lag reality: 13F positions are as of June 30, 2026, and later trading is not yet public.

Revision history

• v1.0 — October 15, 2026: first publication.