Andrew Hill Investment Advisors, in its fourth-quarter client letter, said client portfolios have produced double-digit gains in 2025 for the third year in a row and in line with benchmark returns for most clients.
The fund stated that gold, which has been a material portion of client portfolios for nearly the entire year, has outperformed the stock market, rising 70%.
Andrew Hill Investment Advisors noted that most top-performing stocks this year are in some way tied to AI and its buildout.
During the quarter, the fund added First Horizon (FHN), Goldman Sachs (GS), and Skyward Specialty Insurance (SKWD) as the financial sector has been gaining speed. It also added Thermo Fisher Scientific (TMO) and Vertex (VRTX) to the healthcare sector.
According to the client letter, the fund initiated new positions in Procter & Gamble (PG), Deere (DE), Ulta Beauty (ULTA), and Rivian (RIVN) during the quarter.
On the other hand, the fund sold Costco (COST) to realize a tax loss.
Source: client letter