Andvari Associates’ Q3 2021 Investor Letter

Andvari Associates, an investment management firm, published its third-quarter 2021 investor letter – a copy of which can be downloaded here. A  return of 6.5% was delivered by the fund for the first nine months of 2021, below its S&P 500 and Russell 2000 benchmarks that delivered 15.9% and 12.4% returns respectively for the same period. You can view the fund’s top 5 holdings to have a peek at their top bets for 2021.