In finance, holding period return (HPR) is the return on an asset or portfolio over the whole period during which it was held. It is one of the simplest and most important measures of investment performance.

HPR is the change in value of an investment, asset or portfolio over a particular period. It is the entire gain or loss, which is the sum income and capital gains, divided by the value at the beginning of the period.

HPR = (End Value + Income Received - Beginning Value) / Beginning Value

where the Income Received includes income, such as dividends, earned on the investment.