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Harbor Capital Appreciation Fund (HACAX)

Overview
Performance
Holdings
Investment Team
Documents

Overview

Current Price

as of 11/29/2022

NAV Price

$65.81

NAV Daily Change ($)

-$0.45

NAV Daily Change (%)

-0.68%

NAV YTD Return

-34.69%

Morningstar Gold

Morningstar Analyst Rating™

As of 8/15/2022

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.

Source: Morningstar

Fund Facts

Inception Date

12/29/1987

Net Expense Ratio

0.65%disclaimer

Gross Expense Ratio

0.71%

Total Net Assets (million)

as of 10/31/2022

$13,595.48

Ticker

HACAX

Fund Number

2012

Share Class

Institutional

Top Ten Holdings

as of 9/30/2022

Tesla Inc [TSLA]

9.6%

Apple Inc. [AAPL]

7.2%

Amazon.com Inc. [AMZN]

7.1%

Microsoft Corporation [MSFT]

5.9%

Eli Lilly and Company [LLY]

3.5%

Visa Inc. Class A [V]

3.3%

Alphabet Inc. Class A [GOOGL]

3.0%

Alphabet Inc. Class C [GOOG]

2.9%

NVIDIA Corporation [NVDA]

2.6%

UnitedHealth Group Incorporated [UNH]

2.5%

% of Total Holdings:

47.7%

Morningstar Gold

Morningstar Analyst Rating™

As of 8/15/2022

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.

Source: Morningstar

left quote

“Our fundamental research is what enables us to identify companies that create real economic value over time.”

right quote

Kathleen McCarragher

Managing Director & Head of Growth Equity, Jennison Associates LLC

Performance

Total Returns

MONTH-END
QUARTER-END
YEAR-BY-YEAR
MONTH-BY-MONTH

Fund Name

3 Mo.

YTD Return

1 Yr.

3 Yr.

5 Yr.

10 Yr.

Since Inception

Net Expense Ratio

Gross Expense Ratio

Capital Appreciation Fund

-9.54%

-33.82%

-36.08%

8.80%

9.88%

13.81%

11.46%

0.65%disclaimer

0.71%

Russell 1000® Growth Index

-8.90%

-26.61%

-24.60%

11.75%

12.59%

14.69%

10.67%

--

--

S&P 500 Index

-5.86%

-17.70%

-14.61%

10.22%

10.44%

12.79%

10.58%

--

--

Performance data shown represents past performance and is no guarantee of future results. Past performance is net of management fees and expenses and reflects reinvested dividends and distributions. Past performance reflects the beneficial effect of any expense waivers or reimbursements, without which returns would have been lower. Investment returns and principal value will fluctuate and when redeemed may be worth more or less than their original cost. Returns for periods less than one year are not annualized. Current performance may be higher or lower and is available through the most recent month end at harborcapital.com or by calling 800-422-1050.

The Russell 1000® Growth Index is an unmanaged index generally representative of the U.S. market for larger capitalization growth stocks. The Standard & Poor's 500 Index is an unmanaged index generally representative of the U.S. market for large capitalization equities. These unmanaged indices do not reflect fees and expenses and are not available for direct investment. The Russell 1000® Growth Index and Russell® are trademarks of Frank Russell Company.

Price History

CHART
TABLE

Record Date

Reinvest Date

Payable Date

Return of Capital Non Taxable Dist

Ordinary Income

Total Capital Gains

Short Term Capital Gains

Mid Term Capital Gains

Long Term Capital Gains

Total Distribution

Foreign Tax Credit

Reinvest Price

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

Holdings

Portfolio Characteristics

as of 9/30/2022

Capital Appreciation Fund

Number of Holdings

57

Wtd Avg Market Cap ($Mil)

608938.5

Price/Book Ratio

10.44

Adjusted Trailing P/E Ratio

28.5

% EPS Growth - Past 3 Yr

24.9

Return on Equity (%)

28.81

Forecasted P/E Ratio

26.9

Proj. Earnings Growth Rate (%)

24.5

Top Ten Holdings

as of 9/30/2022

Company Name [Ticker]

% of Net Assets

Tesla Inc[TSLA]

9.6

Apple Inc.[AAPL]

7.2

Amazon.com Inc.[AMZN]

7.1

Microsoft Corporation[MSFT]

5.9

Eli Lilly and Company[LLY]

3.5

Visa Inc. Class A[V]

3.3

Alphabet Inc. Class A[GOOGL]

3.0

Alphabet Inc. Class C[GOOG]

2.9

NVIDIA Corporation[NVDA]

2.6

UnitedHealth Group Incorporated[UNH]

2.6

% of Total Holdings:

47.7%

This information should not be considered as a recommendation to purchase or sell a particular security. The holdings mentioned may change at any time and may not represent current or future investments.

as of 9/30/2022

Company Name [Ticker]

Country

Shares (000's)

Current Price ($)

Market Value ($000's)

% of Net Assets

Tesla Inc [TSLA]

United States

7,691

265.25

2,039,915

9.6

Apple Inc. [AAPL]

United States

11,084

138.20

1,531,804

7.2

Amazon.com Inc. [AMZN]

United States

13,452

113.00

1,520,099

7.1

Microsoft Corporation [MSFT]

United States

5,390

232.90

1,255,257

5.9

Eli Lilly and Company [LLY]

United States

2,274

323.35

735,235

3.5

Visa Inc. Class A [V]

United States

3,893

177.65

691,667

3.3

Alphabet Inc. Class A [GOOGL]

United States

6,600

95.65

631,267

3.0

Alphabet Inc. Class C [GOOG]

United States

6,357

96.15

611,181

2.9

NVIDIA Corporation [NVDA]

United States

4,565

121.39

554,089

2.6

UnitedHealth Group Incorporated [UNH]

United States

1,076

505.04

543,393

2.6

Mastercard Incorporated Class A [MA]

United States

1,902

284.34

540,722

2.5

Salesforce Inc. [CRM]

United States

3,758

143.84

540,546

2.5

LVMH Moet Hennessy Louis Vuitton SE [MC]

France

861

597.98

515,112

2.4

Costco Wholesale Corporation [COST]

United States

1,067

472.27

503,828

2.4

Danaher Corporation [DHR]

United States

1,657

258.29

427,937

2.0

Broadcom Inc. [AVGO]

United States

858

444.01

380,914

1.8

Uber Technologies Inc. [UBER]

United States

13,626

26.50

361,100

1.7

Estee Lauder Companies Inc. Class A [EL]

United States

1,647

215.90

355,601

1.7

Home Depot Inc. [HD]

United States

1,220

275.94

336,632

1.6

CrowdStrike Holdings Inc. Class A [CRWD]

United States

2,019

164.81

332,672

1.6

MercadoLibre Inc. [MELI]

United States

370

827.78

306,495

1.4

Vertex Pharmaceuticals Incorporated [VRTX]

United States

1,047

289.54

303,024

1.4

Adyen NV [ADYEN]

Netherlands

227

1,275.31

289,653

1.4

American Tower Corporation [AMT]

United States

1,351

214.70

290,111

1.4

TJX Companies Inc [TJX]

United States

4,622

62.12

287,117

1.4

Lululemon Athletica Inc [LULU]

United States

999

279.56

279,163

1.3

Snowflake Inc. Class A [SNOW]

United States

1,641

169.96

278,823

1.3

Atlassian Corp Class A [TEAM]

United States

1,308

210.59

275,530

1.3

Adobe Incorporated [ADBE]

United States

982

275.20

270,171

1.3

SLB [SLB]

United States

7,483

35.90

268,625

1.3

Goldman Sachs Group Inc. [GS]

United States

899

293.05

263,466

1.2

Novo Nordisk A/S Sponsored ADR Class B [NVO]

Denmark

2,637

99.63

262,690

1.2

S&P Global Inc. [SPGI]

United States

843

305.35

257,382

1.2

Marriott International Inc. Class A [MAR]

United States

1,788

140.14

250,614

1.2

Airbnb Inc. Class A [ABNB]

United States

2,268

105.04

238,202

1.1

Chipotle Mexican Grill Inc. [CMG]

United States

150

1,502.76

224,992

1.1

O'Reilly Automotive Inc. [ORLY]

United States

321

703.35

225,716

1.1

Trade Desk Inc. Class A [TTD]

United States

3,649

59.75

218,044

1.0

ASML Holding NV ADR [ASML]

Netherlands

488

415.35

202,670

1.0

NIKE Inc. Class B [NKE]

United States

2,446

83.12

203,279

1.0

Abbott Laboratories [ABT]

United States

2,069

96.76

200,161

0.9

KKR & Co Inc [KKR]

United States

4,130

43.00

177,592

0.8

Netflix Inc. [NFLX]

United States

564

235.44

132,681

0.6

Porsche AG [P911]

Germany

1,360

80.82

109,947

0.5

Target Corporation [TGT]

United States

743

148.39

110,225

0.5

DexCom Inc. [DXCM]

United States

1,340

80.54

107,940

0.5

ZoomInfo Technologies Inc [ZI]

United States

2,615

41.66

108,927

0.5

Intuitive Surgical Inc. [ISRG]

United States

563

187.44

105,613

0.5

Northrop Grumman Corp. [NOC]

United States

224

470.32

105,463

0.5

Meta Platforms Inc. Class A [META]

United States

763

135.68

103,493

0.5

Roblox Corp. Class A [RBLX]

United States

2,136

35.84

76,569

0.4

HubSpot Inc. [HUBS]

United States

234

270.12

63,177

0.3

T-Mobile US Inc. [TMUS]

United States

287

134.17

38,442

0.2

Total

--

--

--

21,044,965

99.2

Cash and Other Assets Less Liabilities

--

--

--

--

0.8

Total Net Assets

--

--

--

--

100%

as of 9/30/2022

Economic Sector

Capital Appreciation Fund %

Russell 1000® Growth Index %

Information Technology

33.8

42.7

Consumer Discretionary

31.2

17.0

Health Care

12.6

12.2

Communication Services

9.0

7.6

Consumer Staples

4.0

5.7

Financials

3.3

3.0

Industrials

2.2

7.2

Real Estate

1.4

1.6

Energy

1.3

1.6

Materials

0.0

1.4

Utilities

0.0

0.1

as of 9/30/2022

Economic Sector

Capital Appreciation Fund %

Russell 1000® Growth Index %

Industrials

30.2

-1.6

Consumer Discretionary

9.2

6.1

Energy

0.9

4.3

Utilities

0.0

-2.7

Materials

0.0

-4.3

Health Care

-1.8

-4.9

Financials

-5.5

-0.8

Communication Services

-5.6

-10.6

Information Technology

-7.3

-5.4

Consumer Staples

-8.4

-6.8

Real Estate

-16.0

-11.5

Investment Team

Jennison Associates LLC


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.

Documents

Additional Documents

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.

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.

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.

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Investing involves risk and the potential loss of capital.

Investors should carefully consider the investment objectives, risks, charges and expenses of a fund before investing. To obtain a summary prospectus or prospectus for this and other information, click here or call 800-422-1050. Read it carefully before investing.

All trademarks or product names mentioned herein are the property of their respective owners. Copyright © 2022 Harbor Capital Advisors, Inc. All rights reserved.