Jeremy J Hosking

Jeremy John Hosking is the founder and portfolio manager of Hosking Partners LLP, a London-based independent partnership established in 2013 to run a single global equity strategy. The firm describes its strategy as “a global equity strategy powered by capital cycle analysis” and says its clients are long-term institutional and professional investors.

Before founding Hosking Partners, Hosking spent 26 years at Marathon Asset Management, where he was one of three founding partners and a lead portfolio manager. Marathon was founded in 1986 and became known for longer-term, often contrarian global equity investing; Hosking Partners states that Hosking helped develop the “capital cycle” approach while at Marathon.

Hosking holds an MA from the University of Cambridge. His investment work is closely associated with the capital-cycle framework: focusing on how competition, industry capacity, capital expenditure, balance sheets, and capital scarcity or abundance affect long-term returns on capital and share prices.

Outside listed equities, Hosking is active in rail heritage and transport-related interests. The Royal Scot Locomotive and General Trust lists Jeremy Hosking as a trustee, and Sky Sports reported that he was one of the four CPFC 2010 owners who acquired Crystal Palace in 2010, with the club promoted to the Premier League in 2013.

• Hosking Partners’ core lens is capital-cycle analysis: the firm says it starts with industries and competitive dynamics to judge where returns on capital are heading.
• The firm states: “We use the capital cycle as the lens through which we view the world.”
• The approach is explicitly long-term, supply-focused, and contrarian; Hosking Partners says it thinks about “supply - which we can broadly measure - more than demand - which is hard to predict beyond the short term.”
• The firm is unconstrained by geography and benchmark weights, describing itself as “global generalists applying a capital cycle approach.”
• The strategy favors diversified exposure rather than highly concentrated “star stock picker” portfolios; in Q1 2026 the firm said the global strategy had expanded from roughly 390 to 408 stocks.
• Recent stated overweights or important exposures include financials, metals and mining, Japan, emerging markets, and energy; the Q1 2026 commentary said energy was 12.2% of the strategy versus 3.9% of the benchmark.
• This is not a seed-stage angel-investing profile. The verified evidence points to public-market investing through Hosking Partners, not early-stage venture checks.