HF Best Ideas
AnalysesQuarterly LettersWarren AI
All funds

Hosking Partners

Sep 2025 → Jun 2026 · Publishes monthly

Our archive holds 6 letters from Hosking Partners, behind 4 investment theses and positions in 18 companies. Every quote below is copied verbatim from the letter it came from.

Hosking Partners’s own letters page
6
Letters
18
Companies
18
Moves
4
Theses

What they bought and sold · 18 moves

  • AddedTosei
    June 2026
    “We also increased our positions in other deep-value opportunities that we believe will benefit from the corporate reform underway in Japan, such as Tokyo Steel, Iwatani, Asahi Group, Ezaki Glico, and Tosei.”
    Read the letter
  • TrimmedCorning
    June 2026

    Listed in Hosking Partners’s reported holdings.

    Read the letter
  • TrimmedKyocera
    June 2026
    “At the same time, we took profits in longer held positions, such as Kyocera and Mitsubishi, which have performed strongly.”
    Read the letter
  • AddedTokyo Steel
    June 2026
    “We also increased our positions in other deep-value opportunities that we believe will benefit from the corporate reform underway in Japan, such as Tokyo Steel, Iwatani, Asahi Group, Ezaki Glico, and Tosei.”
    Read the letter
  • TrimmedSeagate Technology
    June 2026

    Listed in Hosking Partners’s reported holdings.

    Read the letter
  • TrimmedApplied Materials
    June 2026

    Listed in Hosking Partners’s reported holdings.

    Read the letter
  • TrimmedBE Semiconductor Industries
    June 2026

    Listed in Hosking Partners’s reported holdings.

    Read the letter
  • AddedVornado Realty Trust
    June 2026
    “We meaningfully increased the strategy's more recent position in New York real estate investment trusts (REITs) SL Green and Vornado, reflecting a growing scarcity of prime office space, which is exerting upward pressure on rents following a decade-plus build cycle that halted with COVID.”
    Read the letter
  • TrimmedSK Hynix
    June 2026

    Listed in Hosking Partners’s reported holdings.

    Read the letter
  • AddedSL Green Realty
    June 2026
    “We meaningfully increased the strategy's more recent position in New York real estate investment trusts (REITs) SL Green and Vornado, reflecting a growing scarcity of prime office space, which is exerting upward pressure on rents following a decade-plus build cycle that halted with COVID.”
    Read the letter
  • AddedSibanye Stillwater
    June 2026
    “with increased investment into Sibanye Stillwater, funded by taking profits at its more highly rated peers.”
    Read the letter
  • TrimmedMitsubishi
    June 2026
    “At the same time, we took profits in longer held positions, such as Kyocera and Mitsubishi, which have performed strongly.”
    Read the letter
  • AddedEzaki Glico
    June 2026
    “We also increased our positions in other deep-value opportunities that we believe will benefit from the corporate reform underway in Japan, such as Tokyo Steel, Iwatani, Asahi Group, Ezaki Glico, and Tosei.”
    Read the letter
  • AddedAsahi Group Holdings
    June 2026
    “We also increased our positions in other deep-value opportunities that we believe will benefit from the corporate reform underway in Japan, such as Tokyo Steel, Iwatani, Asahi Group, Ezaki Glico, and Tosei.”
    Read the letter
  • TrimmedLam Research
    June 2026

    Listed in Hosking Partners’s reported holdings.

    Read the letter
  • AddedIwatani
    June 2026
    “We also increased our positions in other deep-value opportunities that we believe will benefit from the corporate reform underway in Japan, such as Tokyo Steel, Iwatani, Asahi Group, Ezaki Glico, and Tosei.”
    Read the letter
  • AddedHikari Tsushin
    June 2026
    “This included adding to our largest Japanese holding, Hikari Tsushin, which is owned by all five multi-counsellors and whose shares have derated back to levels seen at the time of our initial purchase in late 2022.”
    Read the letter
  • TrimmedTaiwan Semiconductor Manufacturing
    June 2026

    Listed in Hosking Partners’s reported holdings.

    Read the letter

Companies held · 18

Every company Hosking Partners has disclosed a position in across our archive, with the letter that last mentioned it.

Theses · 4

  • Hikari Tsushin
    June 2026

    Hikari Tsushin is a capital-efficient Japanese compounder with a long record of book value growth and a share price that has derated.

    Read the full thesis
  • Babcock International Group PLC
    March 2026

    Babcock International Group PLC is a UK defence and civil nuclear engineering services company with unique assets, improved contract structures, strong management, and structural tailwinds supporting margin growth and capital returns.

    Read the full thesis
  • Star Mica
    March 2026

    Star Mica is a Japanese real estate company specializing in tenant-occupied condominiums, benefiting from a persistent pricing arbitrage, scale advantages, prudent capital allocation, and supportive market tailwinds to drive profitable, undervalued growth.

    Read the full thesis
  • Saga plc
    March 2026

    Saga plc is a UK over-50s services brand spanning cruises, insurance and financial products, with founder-led turnaround, brand loyalty, deleveraging and demographic tailwinds underpinning significant earnings recovery and valuation upside.

    Read the full thesis

Letter archive · 6

2026

2025

Get Hosking Partners’s next letter the day it lands

We track Hosking Partners alongside hundreds of other managers, read every letter, and pull out what they bought and sold. Warren AI reads the whole archive for you.

View plans→
Share this fund