LongHAFNOct 2026
Hafnia Limited
Hafnia is part of Hosking Partners energy-shipping basket built on the capital-cycle thesis that years of underinvestment left the tanker fleet structurally supply constrained…
Hosking Partners LLP
Diversified global contrarian equity investing based on capital cycles, valuation and idiosyncratic opportunities.9 published ideas
Hosking Partners is a London-based global equity manager using a broad, generalist mandate and a capital-cycle approach. The manager invests across countries, sectors and market-capitalization ranges, with an emphasis on overlooked businesses where supply constraints or operational change can improve returns. Django Davidson authored its Q3 2026 commentary.
Ideas from Hosking Partners LLP
LongDHTOct 2026
DHT Holdings, Inc.
Hosking owns DHT through a basket of oil tanker operators favored for their capital-cycle dynamics. Extended underinvestment has constrained available vessel supply, while…
LongINSWOct 2026
International Seaways, Inc.
International Seaways is a constituent of Hosking's tanker investment basket. The manager originally identified the opportunity when investor aversion to a cyclical industry…
LongMOHOct 2026
Motor Oil (Hellas) Corinth Refineries S.A.
Motor Oil is part of Hosking's oil-refining basket, which benefited from disrupted Middle Eastern energy flows during the quarter. The manager believes the refining capital cycle…
LongMPCOct 2026
Marathon Petroleum Corporation
Hosking sees Marathon Petroleum benefiting from a favorable refinery supply and demand imbalance. A shortage of new Western refining projects persists because of restrictive…
LongSAGAOct 2026
Saga plc
Hosking believes Saga is becoming a more capital-light, higher-return company despite its legacy reputation. Annualized return on invested capital reached roughly 25% in the…
LongASCOct 2026
ASOS plc
Hosking views ASOS as a multi-year operational turnaround rather than a mature business whose value is already obvious. Management is executing a recovery program that has been…
LongVNOOct 2026
Vornado Realty Trust
Hosking added to Vornado as rising interest rates and AI-led market concentration compressed valuations of overlooked assets. The manager sees high-quality corporate offices in…
LongGPEOct 2026
Great Portland Estates plc
Hosking added to Great Portland Estates after valuation pressure created by higher rates and investor concentration in AI shares. The manager believes high-quality London office…
Letters covered
- Hosking Partners Quarterly Commentary — Q3 2026October 16, 2026
Source PDFs are not republished here; only extracted ideas and quotes.