A storied pizza chain with sinking sales. The reluctant in-house acknowledgment that a lousy product was to blame.

Our portfolio lagged the S&P 500 Index modestly this past quarter. Color us not surprised.

Watch the highlights from the 2025 Marshfield Investor Conference.

Why Warren Buffett, David Tepper And Other Top Billionaire Investors Are Piling Into Floundering UnitedHealth Stock