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Hoisington Investment Management Company
Hoisington Investment Management Company is a fixed-income manager founded by Van Hoisington in 1986, known for concentrated long-duration U.S.
Hoisington Investment Management Company
Hoisington Investment Management Company was founded in 1986 by Van R. Hoisington in Austin, Texas. The firm's wealth origin is not publicly disclosed, and it operates as a registered investment advisor focused exclusively on fixed-income strategies. The firm's investment approach is built around a macroeconomic thesis developed by Chief Economist Lacy H. Hunt, a former Federal Reserve official. Hoisington typically maintains concentrated portfolios of long-duration U.S. Treasury securities, a strategy that has at times deviated sharply from market consensus. The firm does not invest in corporate bonds, mortgage-backed securities, or international debt. Its geographic footprint is U.S.-centric, with no publicly known international offices or regional diversification. As of 2023, Hoisington advised on approximately $6 billion in assets, per Morningstar. The firm does not disclose a professional headcount, and its public footprint is minimal — no known philanthropic vehicles, operating companies, or club memberships. In 2022, long-duration Treasury bonds experienced significant losses amid the Federal Reserve rate hiking cycle, which affected Hoisington's performance relative to peers (per the Wall Street Journal, 2022). Hoisington's structural differentiator is its single-minded focus on long-duration Treasuries as a macro bet — not as a passive hedge but as the core of conviction. This makes the firm one of the purest expressions of a duration-contrarian mandate in institutional fixed income.
General information
Firm type
Asset Manager
Year founded
1986
AUM
Undisclosed
Location
Region
North America
Country
United States
City
Austin
Corporate office
Austin, TX, United States
Principals
Van R. Hoisington
Founder and Chairman
Lacy H. Hunt
Chief Economist
Sector focus
Frequently asked questions
Who runs investment decisions at Hoisington Investment Management?
Van R. Hoisington is the founder and Chairman. Chief Economist Lacy H. Hunt drives the macro framework that underpins all portfolio decisions (public record). Day-to-day portfolio management is not assigned to named individuals in public disclosures.
How does Hoisington's investment strategy differ from other fixed-income managers?
Hoisington focuses almost exclusively on long-duration U.S. Treasury securities, often maintaining significantly longer duration exposure than benchmark indices. The firm does not invest in corporate credit, mortgage-backed securities, or other spread products, making it a pure-expression macro bet rather than a diversified income manager.
Does Hoisington Investment Management manage assets for external clients?
Yes, the firm operates as a registered investment advisor and has historically managed assets for institutional clients, including some public pension funds, as well as high-net-worth individuals. However, the firm does not disclose its client base or minimum investment thresholds.
What is the role of Lacy H. Hunt at Hoisington?
Lacy H. Hunt serves as Chief Economist and has been the public intellectual force behind the firm's deflationary thesis. He publishes quarterly reviews and appears in financial media to articulate the macro rationale for long-duration Treasury exposure (public record).
How has Hoisington performed during rising interest rate environments?
Because Hoisington maintains long-duration portfolios, periods of rapidly rising interest rates, such as 2022, caused significant capital losses. The firm's performance has historically rebounded during falling-rate cycles, consistent with its duration-contrarian approach (per the Wall Street Journal, 2022).
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