Andvari Associates’ Q1 2023 Investor Letter

Andvari Associates, an investment management company, released its first-quarter 2023 investor letter. A copy of the same can be downloaded here. In the first quarter, the fund was up 12.3% net of fees compared to a 7.5% return for the SPDR S&P 500 ETF. The firm is skeptical of investing in banks as it considers them not suitable for the long term. In addition, please check the fund’s top five holdings to know its best picks in 2023.