I.
Independence
Employee-owned and partner-led since 1923. We answer to clients, never to a parent company or quarterly shareholders.
Volume CII · A Century of Counsel
Disciplined investment counsel, deliberately Chicago.
For more than one hundred years, Dobrey Investments has stewarded the capital of institutions, endowments, and private families through every market regime — quietly, conservatively, and on our own terms.
$14.2B
Assets Under Management
1923
Year Established
1,200+
Client Relationships
27
Partners
From the Managing Partner
A letter, not a pitch.
The firm my great-grandfather founded above a grain broker on LaSalle Street in 1923 looks little like the firm we are today — and, in the ways that matter most, very much the same. We still believe that the best investment results come from owning durable businesses at sensible prices, held patiently, on behalf of clients we know personally.
We do not chase fashion. We do not manage money for everyone. What we offer, instead, is one hundred years of accumulated judgment — and a straightforward promise that your interests will always come before our own.
Aleksander Dobrey III
Managing Partner
Four Principles
The doctrine of the house.
The principles below have governed every investment decision made at Dobrey Investments since the firm's founding.
II.
Discipline
Bottom-up fundamental research, conservative valuation discipline, and concentrated portfolios of high-conviction holdings.
III.
Stewardship
Long holding periods, low turnover, and a fiduciary standard that has guided the firm across four generations of leadership.
IV.
Continuity
Average partner tenure exceeds twenty years. Clients work with the same counsel team for decades, not quarters.
Long-term Performance
Annualized total return.
Composite, net of fees, gross of taxes. Audited annually by Ernst & Young. Past performance is not indicative of future results.
| Strategy | 5 Year | 10 Year | 20 Year | Inception |
|---|---|---|---|---|
| Dobrey Quality Equity | 12.4% | 11.8% | 10.9% | 11.2% |
| Dobrey Concentrated Value | 14.1% | 12.6% | 11.4% | 12.0% |
| Heritage Fixed Income | 5.8% | 4.9% | 5.2% | 6.1% |
| Cornerstone Real Assets | 9.7% | 8.4% | — | 8.9% |
| Endowment Composite | 10.2% | 9.6% | 9.1% | 9.4% |
By Introduction Only
We accept a limited number of new client relationships each year.
If you would like to explore whether Dobrey Investments is the right counsel for your family or institution, we welcome a confidential conversation.