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The Morningstar Analyst Rating™ is based on the covering Morningstar Analyst's conviction in the fund's ability to outperform its peer group and/or relevant benchmark on a risk-adjusted basis over the long term. Harbor offers several funds with Gold, Silver, or Bronze ratings. |
“Our fundamental research is what enables us to identify companies that create real economic value over time.”
Kathleen McCarragher
Managing Director & Head of Growth Equity, Jennison Associates LLC
12/16/2022
12/19/2022
12/19/2022
0.00000
--
0.00000
--
0.00000
--
0.00000
0.00000
63.10
12/17/2021
12/20/2021
12/20/2021
0.00000
--
18.78540
--
0.00000
18.78540
18.78540
0.00000
95.90
12/16/2020
12/17/2020
12/17/2020
0.00000
0.00000
12.76479
0.00000
0.00000
12.76479
12.76479
0.00000
104.23
12/13/2019
12/16/2019
12/16/2019
0.00000
0.05047
6.67334
0.00000
0.00000
6.67334
6.72381
0.00000
74.60
12/14/2018
12/17/2018
12/17/2018
0.00000
0.14830
6.64723
0.00000
0.00000
6.64723
6.79553
0.00000
62.24
12/15/2017
12/18/2017
12/18/2017
0.00000
0.11238
7.91505
0.00000
0.00000
7.91505
8.02743
0.00000
70.20
12/16/2016
12/19/2016
12/19/2016
0.00000
0.06091
3.48780
0.00000
0.00000
3.48780
3.54871
0.00000
57.25
12/16/2015
12/17/2015
12/17/2015
0.00000
0.04869
4.10699
0.00000
0.00000
4.10699
4.15568
0.00000
61.03
12/17/2014
12/18/2014
12/18/2014
0.00000
0.04816
3.76608
0.00000
0.00000
3.76608
3.81424
0.00000
58.74
12/16/2013
12/17/2013
12/17/2013
0.00000
0.04510
1.72906
0.00000
0.00000
1.72906
1.77416
0.00000
54.57
12/14/2012
12/17/2012
12/17/2012
0.00000
0.16944
0.00000
0.00000
0.00000
0.00000
0.16944
0.00000
42.36
12/15/2011
12/16/2011
12/16/2011
0.00000
0.04266
0.00000
0.00000
0.00000
0.00000
0.04266
0.00000
36.19
12/16/2010
12/17/2010
12/17/2010
0.00000
0.07727
0.00000
0.00000
0.00000
0.00000
0.07727
0.00000
36.66
12/17/2009
12/18/2009
12/18/2009
0.00000
0.08679
0.00000
0.00000
0.00000
0.00000
0.08679
0.00000
32.29
12/18/2008
12/19/2008
12/19/2008
0.00000
0.15639
0.00000
0.00000
0.00000
0.00000
0.15639
0.00000
23.13
12/18/2007
12/19/2007
12/19/2007
0.00000
0.12233
0.00000
0.00000
0.00000
0.00000
0.12233
0.00000
36.50
12/18/2006
12/19/2006
12/19/2006
0.00000
0.07118
0.00000
0.00000
0.00000
0.00000
0.07118
0.00000
33.65
12/19/2005
12/20/2005
12/20/2005
0.00000
0.03054
0.00000
0.00000
0.00000
0.00000
0.03054
0.00000
33.02
12/29/2004
12/30/2004
12/30/2004
0.00000
0.10973
0.00000
0.00000
0.00000
0.00000
0.10973
0.00000
28.78
12/29/2003
12/30/2003
12/30/2003
0.00000
0.04852
0.00000
0.00000
0.00000
0.00000
0.04852
0.00000
26.26
12/27/2002
12/30/2002
12/30/2002
0.00000
0.03692
0.00000
0.00000
0.00000
0.00000
0.03692
0.00000
20.19
12/26/2001
12/27/2001
12/28/2001
0.00000
0.03917
0.00000
0.00000
0.00000
0.00000
0.03917
0.00000
29.47
12/20/2000
12/21/2000
12/22/2000
0.00000
0.00000
6.17401
0.00000
0.00000
6.17401
6.17401
0.00000
34.01
12/21/1999
12/22/1999
12/23/1999
0.00000
0.00000
4.60205
0.11634
0.00000
4.48571
4.60205
0.00000
49.14
12/28/1998
12/29/1998
12/31/1998
0.00000
0.06501
2.27618
0.00000
0.00000
2.27618
2.34119
0.00000
38.25
12/24/1997
12/26/1997
12/31/1997
0.00000
0.06684
4.85048
0.85839
1.91583
2.07626
4.91732
0.00000
28.18
12/24/1996
12/26/1996
12/31/1996
0.00000
0.02107
0.85964
0.00000
0.00000
0.85964
0.88071
0.00000
26.84
12/22/1995
12/26/1995
12/29/1995
0.00000
0.02582
0.31401
0.00000
0.00000
0.31401
0.33983
0.00000
22.69
12/23/1994
12/27/1994
12/30/1994
0.00000
0.03791
0.17459
0.00000
0.00000
0.17459
0.21250
0.00000
16.75
12/23/1993
12/27/1993
12/31/1993
0.00000
0.03447
1.12874
0.00000
0.00000
1.12874
1.16321
0.00000
16.18
12/24/1992
12/28/1992
12/31/1992
0.00000
0.01968
2.03511
0.16482
0.00000
1.87029
2.05479
0.00000
15.55
12/26/1991
12/27/1991
12/31/1991
0.00000
0.04335
0.97962
0.39165
0.00000
0.58797
1.02297
0.00000
15.61
12/24/1990
12/26/1990
12/31/1990
0.00000
0.14059
0.85820
0.00000
0.00000
0.85820
0.99879
0.00000
11.11
12/21/1989
12/22/1989
12/30/1989
0.00000
0.20724
1.18225
0.28386
0.00000
0.89839
1.38949
0.00000
12.09
12/23/1988
12/27/1988
12/30/1988
0.00000
0.17814
0.38113
0.23098
0.00000
0.15015
0.55927
0.00000
10.88
Microsoft Corporation [MSFT]
5,441
239.82
1,304,933
6.6
Apple Inc. [AAPL]
9,928
129.93
1,289,999
6.5
Amazon.com Inc. [AMZN]
12,144
84.00
1,020,114
5.1
NVIDIA Corporation [NVDA]
6,023
146.14
880,140
4.4
Eli Lilly and Company [LLY]
2,231
365.84
816,316
4.1
Visa Inc. Class A [V]
3,821
207.76
793,793
4.0
Mastercard Incorporated Class A [MA]
1,866
347.73
648,922
3.3
LVMH Moet Hennessy Louis Vuitton SE [MC]
845
725.62
613,396
3.1
Tesla Inc. [TSLA]
4,913
123.18
605,217
3.0
Alphabet Inc. Class A [GOOGL]
6,477
88.23
571,424
2.9
Alphabet Inc. Class C [GOOG]
6,238
88.73
553,484
2.8
UnitedHealth Group Incorporated [UNH]
1,015
530.18
538,031
2.7
Broadcom Inc. [AVGO]
871
559.13
486,761
2.5
Costco Wholesale Corporation [COST]
1,047
456.50
477,911
2.4
Schlumberger N.V. [SLB]
7,971
53.46
426,125
2.1
Novo Nordisk A/S Sponsored ADR Class B [NVO]
2,818
135.34
381,358
1.9
Home Depot Inc. [HD]
1,197
315.86
378,137
1.9
Netflix Inc. [NFLX]
1,175
294.88
346,519
1.7
Danaher Corporation [DHR]
1,269
265.42
336,689
1.7
American Tower Corporation [AMT]
1,580
211.86
334,707
1.7
TJX Companies Inc [TJX]
4,117
79.60
327,717
1.7
Adobe Incorporated [ADBE]
963
336.53
324,211
1.6
Lululemon Athletica Inc [LULU]
980
320.38
313,951
1.6
Uber Technologies Inc. [UBER]
12,689
24.73
313,791
1.6
Vertex Pharmaceuticals Incorporated [VRTX]
1,083
288.78
312,828
1.6
MercadoLibre Inc. [MELI]
363
846.24
307,480
1.6
S&P Global Inc. [SPGI]
913
334.94
305,949
1.5
Estee Lauder Companies Inc. Class A [EL]
1,166
248.11
289,275
1.5
ASML Holding NV ADR [ASML]
520
546.40
284,127
1.4
Goldman Sachs Group Inc. [GS]
830
343.38
284,845
1.4
O'Reilly Automotive Inc. [ORLY]
315
844.03
265,804
1.3
T-Mobile US Inc. [TMUS]
1,874
140.00
262,406
1.3
Marriott International Inc. Class A [MAR]
1,755
148.89
261,290
1.3
Adyen NV [ADYEN]
186
1,375.04
255,849
1.3
Snowflake Inc. Class A [SNOW]
1,698
143.54
243,676
1.2
Intuitive Surgical Inc. [ISRG]
915
265.35
242,836
1.2
NIKE Inc. Class B [NKE]
1,995
117.01
233,440
1.2
Salesforce Inc. [CRM]
1,618
132.59
214,531
1.1
DexCom Inc. [DXCM]
1,813
113.24
205,349
1.0
Atlassian Corp Class A [TEAM]
1,284
128.68
165,217
0.8
Northrop Grumman Corp. [NOC]
294
545.61
160,182
0.8
Airbnb Inc. Class A [ABNB]
1,792
85.50
153,183
0.8
Chipotle Mexican Grill Inc. [CMG]
110
1,387.49
152,446
0.8
CrowdStrike Holdings Inc. Class A [CRWD]
1,311
105.29
138,051
0.7
Porsche AG [P911]
1,349
101.12
136,463
0.7
Abbott Laboratories [ABT]
1,101
109.79
120,844
0.6
KKR & Co Inc [KKR]
2,403
46.42
111,533
0.6
Trade Desk Inc. Class A [TTD]
2,439
44.83
109,354
0.5
Thermo Fisher Scientific Inc. [TMO]
181
550.69
99,819
0.5
Meta Platforms Inc. Class A [META]
763
120.34
91,792
0.5
Ulta Beauty Inc. [ULTA]
181
469.07
84,948
0.4
ZoomInfo Technologies Inc [ZI]
2,566
30.11
77,257
0.4
HubSpot Inc. [HUBS]
234
289.13
67,623
0.3
Roblox Corp. Class A [RBLX]
2,136
28.46
60,802
0.3
Total
--
--
--
19,782,847
99.5
Cash and Other Assets Less Liabilities
--
--
--
--
0.5
Total Net Assets
--
--
--
--
100%
Capital Appreciation Fund (HCAIX)
Russell 1000® Growth Index
Information Technology
HCAIX: 35.7%
Benchmark: 43.2%
Consumer Discretionary
HCAIX: 24.4%
Benchmark: 14.2%
Health Care
HCAIX: 15.4%
Benchmark: 13.5%
Communication Services
HCAIX: 10.4%
Benchmark: 6.7%
Consumer Staples
HCAIX: 3.9%
Benchmark: 6.1%
Financials
HCAIX: 3.5%
Benchmark: 3.3%
Industrials
HCAIX: 2.4%
Benchmark: 8.1%
Energy
HCAIX: 2.1%
Benchmark: 1.7%
Real Estate
HCAIX: 1.7%
Benchmark: 1.6%
Materials
HCAIX: 0.0%
Benchmark: 1.5%
Utilities
HCAIX: 0.0%
Benchmark: 0.1%
HCAIX: Capital Appreciation Fund
Benchmark: Russell 1000® Growth Index
Energy
49.4
12.8
Financials
13.5
9.5
Health Care
12.6
13.1
Information Technology
3.8
3.3
Consumer Staples
2.4
10.0
Real Estate
0.2
3.5
Materials
0.0
8.9
Utilities
0.0
16.6
Industrials
-0.3
15.4
Communication Services
-8.3
-6.4
Consumer Discretionary
-15.6
-15.7
Jennison Associates LLC believes that sustainable alpha generation is possible through a combination of deep fundamental research, specialized investment teams comprised of highly experienced portfolio managers and research analysts, bottom-up portfolio construction, and high-conviction investing. Jennison places an equal premium on the support of deep, longstanding client relationships. Over their history, they have expanded their array of capabilities across active equity, comprising a range of style, geography and market capitalization, and fixed income.
From time to time, certain fees and/or expenses have been voluntarily or contractually waived or reimbursed, which has resulted in higher returns. Without these waivers or reimbursements, the returns would have been lower. Voluntary waivers or reimbursements may be applied or discontinued at any time without notice. Only the Board of Trustees may modify or terminate contractual fee waivers or expense reimbursements.
As a result of changing market conditions, total net asset levels, expenses and other factors may change at any time during the current fiscal period and may differ from those shown.
There is no guarantee that the investment objective of the Fund will be achieved. Stock markets are volatile and equity values can decline significantly in response to adverse issuer, political, regulatory, market and economic conditions. At times, a growth investing style may be out of favor with investors which could cause growth securities to underperform value or other equity securities. Since the Fund may hold foreign securities, it may be subject to greater risks than funds invested only in the U.S. These risks are more severe for securities of issuers in emerging market regions.
Weighted Average Market Capitalization: The average size of the companies in a portfolio or index as measured by the market value of outstanding shares.
Price/Book: The price-to-book (P/B) ratio evaluates a firm's market value relative to its book value.
Adjusted Trailing P/E Ratio: The Adjusted Trailing P/E (Price/Earnings) Ratio is the closing stock price divided by the sum of the last 12 months actual EPS.
% EPS Growth – Past 3 year: Earnings per share refers to the bottom-line measure of a company’s profitability defined as net income divided by the number of outstanding shares.
Return on Equity: Return on equity (ROE) is a measure of financial performance calculated by dividing net income by shareholders' equity.
Forecasted P/E Ratio: a measure of the P/E (price-to-earnings) ratio using forecasted earnings for the P/E calculation.
The Morningstar Analyst Rating™ is not a credit or risk rating. It is a subjective evaluation performed by Morningstar’s manager research group, which consists of various Morningstar, Inc. subsidiaries (“Manager Research Group”). In the United States, that subsidiary is Morningstar Research Services LLC, which is registered with and governed by the U.S. Securities and Exchange Commission. The Manager Research Group evaluates funds based on five key pillars, which are process, performance, people, parent, and price. The Manager Research Group uses this five-pillar evaluation to determine how they believe funds are likely to perform relative to a benchmark over the long term on a risk adjusted basis. They consider quantitative and qualitative factors in their research. For actively managed strategies, people and process each receive a 45% weighting in their analysis, while parent receives a 10% weighting. For passive strategies, process receives an 80% weighting, while people and parent each receive a 10% weighting. For both active and passive strategies, performance has no explicit weight as it is incorporated into the analysis of people and process; price at the share-class level (where applicable) is directly subtracted from an expected gross alpha estimate derived from the analysis of the other pillars. The impact of the weighted pillar scores for people, process and parent on the final Analyst Rating is further modified by a measure of the dispersion of historical alphas among relevant peers. For certain peer groups where standard benchmarking is not applicable, primarily peer groups of funds using alternative investment strategies, the modification by alpha dispersion is not used.
The Analyst Rating scale is Gold, Silver, Bronze, Neutral, and Negative. For active funds, a Morningstar Analyst Rating of Gold, Silver, or Bronze reflects the Manager Research Group’s expectation that an active fund will be able to deliver positive alpha net of fees relative to the standard benchmark index assigned to the Morningstar category. The level of the rating relates to the level of expected positive net alpha relative to Morningstar category peers for active funds. For passive funds, a Morningstar Analyst Rating of Gold, Silver, or Bronze reflects the Manager Research Group’s expectation that a fund will be able to deliver a higher alpha net of fees than the lesser of the relevant Morningstar category median or 0. The level of the rating relates to the level of expected net alpha relative to Morningstar category peers for passive funds. For certain peer groups where standard benchmarking is not applicable, primarily peer groups of funds using alternative investment strategies, a Morningstar Analyst Rating of Gold, Silver, or Bronze reflects the Manager Research Group’s expectation that a fund will deliver a weighted pillar score above a predetermined threshold within its peer group. Analyst Ratings ultimately reflect the Manager Research Group’s overall assessment, are overseen by an Analyst Rating Committee, and are continuously monitored and reevaluated at least every 14 months.
For more detailed information about Morningstar’s Analyst Rating, including its methodology, please go to https://shareholders.morningstar.com/investor-relations/governance/Compliance--Disclosure/default.aspx.
The Morningstar Analyst Rating (i) should not be used as the sole basis in evaluating a fund, (ii) involves unknown risks and uncertainties which may cause the Manager Research Group’s expectations not to occur or to differ significantly from what they expected, and (iii) should not be considered an offer or solicitation to buy or sell the fund.
2643822