Investor Letters

Letters through March 30, 2023

1 letter reporting on the period ending March 30, 2023, in each firm's own reckoning.

Andrew Hill Investment Advisors The Client Letter Andrew Hill Investment Advisors shifted holdings after technology leadership displaced healthcare and kept client equity exposure below targets pending confirmation of a market bottom. The firm raised bond credit standards, plans to extend maturities, added to GLD, and argues that its core equity holdings balance recession resilience with secular growth and industrial exposure. 1st Quarter AAPL $4.8TANET $260BDE $181B