Quarterly Report

Insights on markets and investment opportunities, through the lens of the capital cycle.
Quarterly Report 2026
Q2 2026 – Quarterly Report Commentary
The Hosking Partners strategy delivered another strong period of absolute returns, adding 11.7% (net) in the second quarter and taking…
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Quarterly Report 2024
Q4 2024 – Quarterly Report Commentary
Alice: “One can’t believe impossible things.” Red Queen: “I dare say you haven’t had much practice.” Through the Looking Glass…
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Quarterly Report 2024
Q3 2024 – Quarterly Report Commentary
In the third quarter of 2024, the Hosking Partners strategy net return was 4.1% relative to a 6.6% return for…
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Quarterly Report 2024
Q2 2024 – Quarterly Report Commentary
The Hosking Partners strategy is starting to show strong relative performance of just under 5% relative to its benchmark over…
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Quarterly Report 2024
Q1 2024 – Quarterly Report Commentary
Spring has sprung!   The Hosking Partners portfolio saw another positive quarter of returns. This performance builds on recent strength,…
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Quarterly Report 2023
Q3 2023 – Quarterly Report Commentary
Positive performance relative to the benchmark over the most recent quarter, last twelve months, as well as the last three…
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Quarterly Report 2023
Q2 2023 – Quarterly Report Commentary
The second quarter saw global markets reappraise the likelihood of an imminent US recession. Recent inflation data from the US…
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Quarterly Report 2023
Q1 2023 – Quarterly Report Commentary
The disappointing underperformance in the first quarter of 2023 is attributable, almost entirely, to the air pocket which hit capital…
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Quarterly Report 2022
Q4 2022 – Quarterly Report Commentary
The final quarter of 2022 delivered positive market returns in stark contrast to investors’ loss-making experience in the first nine…
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Quarterly Report 2022
Q3 2022 – Quarterly Report Commentary
In the third quarter of 2022 weak global equity conditions continued. The portfolio fell 6.2%, compared with a benchmark decline…
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Quarterly Report 2022
Q2 2022 – Quarterly Report Commentary
With an almost clean sweep of asset classes posting negative real returns, the quarter ending June 2022 re-set records. Deutsche…
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Quarterly Report 2022
Q1 2022 – Hosking Partners Commentary
The bulk of the portfolio’s decline during the quarter was caused by its holdings in the Russian stock market: Russian…
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Quarterly Report 2026
Q1 2026 Quarterly Report Commentary
Luke Bridgeman updates on portfolio performance and outlook.
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Quarterly Report 2026
Q4 2025 Quarterly Report Commentary
Jeremy Hosking reflects on a strong year for the portfolio.
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Quarterly Report 2025
Q3 2025 Quarterly Report Commentary
Django Davidson on performance and outlook.
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