July 9, 2019

Andvari 2019Q2 Letter

For the first six months of 2019, Andvari is up 38.7% net of fees while the S&P 500 is up 18.5%.1 The table below shows Andvari’s composite performance figures against two benchmarks while the chart shows the cumulative gains of hypothetical $100 investments.

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April 21, 2019

Andvari 2019Q1 Letter

For the first quarter of 2019, Andvari was up 28.1% while the S&P 500 was up 13.6%.1 The table below shows Andvari’s composite performance figures against three benchmarks while the chart shows the cumulative gains of hypothetical $100 investments.

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January 25, 2019

Andvari 2018Q4 Letter

For the full year of 2018, Andvari was up 1% while the S&P 500 was down 4.4%.1 The table below shows Andvari’s composite performance figures against three benchmarks while the chart shows the cumulative gains of hypothetical $100 investments.

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February 1, 2018

Andvari 2017Q4 Letter

Instead of beginning with a summary of investment performance, I begin with even more important news. As many of you know, my wife Leann has cystic fibrosis, a rare and life-threatening genetic disease that affects the lungs and digestive system. After being in the hospital six times in 2017, Leann and I traveled to Duke University so she could be evaluated for a double lung transplant. It was an exhausting five days of tests and meeting with everyone on Duke’s transplant team. Duke later told Leann she is a good candidate for their program and Leann decided to join.

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