By Attiya Zainib
Publication Date: 2026-10-08 13:58:00
Andrew Hill Investment Advisors recently released its third-quarter 2026 investor letter. A copy of the letter can be downloaded here. The fund navigated a mixed third-quarter investment environment in which rising oil prices, higher interest rates, and persistent inflation created headwinds for equities and bonds, although strong corporate earnings and continued AI investment helped support the broader stock market. The letter does not disclose an aggregate third-quarter return for client portfolios, but the S&P 500 gained 3.54% through September 22, while the Bloomberg U.S. Aggregate Bond Index declined 2.8%; meanwhile, oil prices rose sharply, and the Federal Reserve increased the federal funds rate to 3.75%-4.00%, its first rate hike in more than three years. Performance across client accounts benefited from exposure to software, AI hardware, and selected strategic investments, while losses in other areas and the sharp rise in bond yields offset some gains; the average…
