In a market obsessed with speed, Bill Ackman is mastering the art of stillness. In this episode, we break down Bill Ackman’s Q3 2025 filing—a masterclass in high conviction and near-zero turnover. We explore why Ackman stood pat on massive winners like Uber and Brookfield, the strategy behind his "lethargy bordering on sloth," and what his quiet quarter signals for the year ahead. Tune in to learn why the best trade is sometimes the one you don’t make.

This episode includes AI-generated content.