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Harbor Capital Appreciation Fund (HACAX)

Harbor Capital Appreciation Fund (HACAX)

Welcome
Overview
Performance
Holdings
Investment Team
Documents
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Class
  • Long-Term Growth Investing. Active manager with five decades of experience identifying companies with sustainable competitive advantages and long-term growth potential. The team’s investors attempt to exploit market inefficiencies by investing in companies with underappreciated multi-year, structural growth opportunities.
  • Research-Centric Expertise. Jennison’s investment edge is driven by in-depth fundamental research conducted by teams of portfolio managers and research analysts with decades of experience following their respective sectors. These investors engage with multiple levels of company management and industry participants to build a strategic understanding of companies and identify potential growth catalysts and impediments to growth. They search for companies with significant competitive advantages and management teams able to execute on their growth opportunities.

Related Products to Consider

Harbor Long-Term Growers ETF (WINN)

Harbor Dividend Growth Leaders ETF (GDIV)

Overview

Investment Team
Jennison Associates
Kathleen McCarragher
Blair Boyer
Natasha Kuhlkin, CFA

Current Price

As of 2/29/2024

$108.99

Price (NAV)

$0.84

NAV Daily Change ($)

0.78%

NAV Daily Change (%)

12.95%

NAV YTD Return

Fund Facts

As of 2/29/2024

12/29/1987

Inception Date

0.67

Net Expense Ratio
disclaimer

0.72

Gross Expense Ratio

$17,656.095

Total Net Assets (million)
As of 2/29/2024

HACAX

Ticker

2012

Fund Number

Institutional Class

Share Class

Top Ten Holdings

As of 12/31/2023

Company Name [Ticker]

% of Net Assets

Microsoft Corporation[MSFT]
8.4
Amazon.com Inc.[AMZN]
7.8
NVIDIA Corporation[NVDA]
6.1
Apple Inc.[AAPL]
4.8
Advanced Micro Devices Inc.[AMD]
3.9
Tesla Inc.[TSLA]
3.8
Meta Platforms Inc. Class A[META]
3.6
Eli Lilly and Company[LLY]
3.4
Visa Inc. Class A[V]
3.0
Broadcom Inc.[AVGO]
2.9
% of Total Holdings:
47.7%

Morningstar Medalist Rating™

Morningstar Silver
Analyst-Driven %
100
Data Coverage %
100
As of 7/20/2023

“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

Performance

Total Returns

Month-End

3 Mo.

YTD Return

1 Yr.

3 Yr.

5 Yr.

10 Yr.

Since Inception

Net Expense Ratio

Gross Expense Ratio

Capital Appreciation Fund
18.27%
12.95%
59.13%
7.83%
17.50%
14.83%
12.54%
0.67%disclaimer
0.72%
Russell 1000® Growth Index
--
--
--
--
--
--
--
--
--
S&P 500 Index
--
--
--
--
--
--
--
--
--

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

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

12/18/2023
12/19/2023
12/19/2023
0.00000
--
0.00000
--
0.00000
--
0.00000
0.00000
96.78
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

Holdings

Portfolio Characteristics

As of 12/31/2023

54

Number of Holdings

868649.3

Wtd Avg Market Cap ($Mil)

13.51

Price/Book Ratio

42.9

Adjusted Trailing P/E Ratio

20.2

% EPS Growth - Past 3 Yr

24.53

Return on Equity (%)

37.3

Forecasted P/E Ratio

Top Ten Holdings

As of 12/31/2023

Company Name [Ticker]

% of Net Assets

Microsoft Corporation[MSFT]
8.4
Amazon.com Inc.[AMZN]
7.8
NVIDIA Corporation[NVDA]
6.1
Apple Inc.[AAPL]
4.8
Advanced Micro Devices Inc.[AMD]
3.9
Tesla Inc.[TSLA]
3.8
Meta Platforms Inc. Class A[META]
3.6
Eli Lilly and Company[LLY]
3.4
Visa Inc. Class A[V]
3.0
Broadcom Inc.[AVGO]
2.9
% of Total Holdings:
47.7%

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

As of 12/31/2023

Company Name [Ticker]

Country

Shares (000's)

Current Price ($)

Market Value ($000's)

% of Net Assets

Microsoft Corporation [MSFT]
5,782
376.04
2,174,415
8.4
Amazon.com Inc. [AMZN]
13,299
151.94
2,020,718
7.8
NVIDIA Corporation [NVDA]
3,214
495.22
1,591,745
6.1
Apple Inc. [AAPL]
6,491
192.53
1,249,753
4.8
Advanced Micro Devices Inc. [AMD]
6,795
147.41
1,001,584
3.9
Tesla Inc. [TSLA]
3,958
248.48
983,448
3.8
Meta Platforms Inc. Class A [META]
2,667
353.96
943,835
3.6
Eli Lilly and Company [LLY]
1,539
582.92
896,823
3.4
Visa Inc. Class A [V]
3,038
260.35
790,822
3.0
Broadcom Inc. [AVGO]
678
1,116.25
757,051
2.9
Mastercard Incorporated Class A [MA]
1,732
426.51
738,920
2.8
Alphabet Inc. Class C [GOOG]
4,485
140.93
632,115
2.4
Alphabet Inc. Class A [GOOGL]
4,510
139.69
629,932
2.4
Salesforce Inc. [CRM]
2,196
263.14
577,928
2.2
Netflix Inc. [NFLX]
1,158
486.88
563,606
2.2
Costco Wholesale Corporation [COST]
833
660.08
549,932
2.1
Novo Nordisk A/S Sponsored ADR Class B [NVO]
5,076
103.45
525,099
2.0
Adobe Incorporated [ADBE]
876
596.60
522,401
2.0
MercadoLibre Inc. [MELI]
330
1,571.54
518,993
2.0
Uber Technologies Inc. [UBER]
7,693
61.57
473,642
1.8
UnitedHealth Group Incorporated [UNH]
850
526.47
447,275
1.7
Lululemon Athletica Inc [LULU]
846
511.29
432,571
1.7
LVMH Moet Hennessy Louis Vuitton SE [MC]
485
810.37
393,085
1.5
ServiceNow Inc. [NOW]
522
706.49
368,865
1.4
Vertex Pharmaceuticals Incorporated [VRTX]
865
406.89
351,892
1.4
Intuitive Surgical Inc. [ISRG]
1,030
337.36
347,421
1.3
CrowdStrike Holdings Inc. Class A [CRWD]
1,321
255.32
337,261
1.3
Cadence Design Systems Inc. [CDNS]
1,209
272.37
329,366
1.3
American Tower Corporation [AMT]
1,438
215.88
310,521
1.2
MongoDB Inc. Class A [MDB]
751
408.85
307,072
1.2
Snowflake Inc. Class A [SNOW]
1,543
199.00
307,051
1.2
Home Depot Inc. [HD]
882
346.55
305,800
1.2
L'Oreal S.A. [OR]
606
497.81
301,634
1.2
Marriott International Inc. Class A [MAR]
1,203
225.51
271,183
1.0
Astrazeneca PLC Sponsored ADR [AZN]
3,997
67.35
269,227
1.0
TJX Companies Inc [TJX]
2,836
93.81
266,083
1.0
ASML Holding NV ADR [ASML]
348
756.92
263,145
1.0
Boeing Company [BA]
1,008
260.66
262,814
1.0
O'Reilly Automotive Inc. [ORLY]
259
950.08
246,505
1.0
Trade Desk Inc. Class A [TTD]
2,720
71.96
195,707
0.8
Airbnb Inc. Class A [ABNB]
1,261
136.14
171,681
0.7
Chipotle Mexican Grill Inc. [CMG]
75
2,286.96
171,540
0.7
NIKE Inc. Class B [NKE]
1,544
108.57
167,624
0.6
ARM Holdings PLC ADR [ARM]
2,037
75.14
153,091
0.6
Micron Technology Inc. [MU]
1,707
85.34
145,663
0.6
Goldman Sachs Group Inc. [GS]
374
385.77
144,383
0.5
HubSpot Inc. [HUBS]
242
580.54
140,773
0.5
Keysight Technologies Inc [KEYS]
827
159.09
131,624
0.5
Moody's Corporation [MCO]
318
390.56
124,111
0.5
Porsche AG [P911]
1,259
88.26
111,109
0.4
Palo Alto Networks Inc. [PANW]
256
294.88
75,579
0.3
Mobileye Global Inc. Class A [MBLY]
1,667
43.32
72,208
0.3
Total
--
--
--
26,066,628
100.2
Cash and Other Assets Less Liabilities
--
--
--
--
-0.2
Total Net Assets
--
--
--
--
100%

As of 12/31/2023

Capital Appreciation Fund (HACAX)

Russell 1000® Growth Index

-

Information Technology

HACAX: 40.1%

Benchmark: 43.5%

-

Consumer Discretionary

HACAX: 23.5%

Benchmark: 15.7%

-

Communication Services

HACAX: 11.4%

Benchmark: 11.4%

-

Health Care

HACAX: 10.9%

Benchmark: 10.6%

-

Financials

HACAX: 6.9%

Benchmark: 6.4%

-

Consumer Staples

HACAX: 3.3%

Benchmark: 4.1%

-

Industrials

HACAX: 2.8%

Benchmark: 5.9%

-

Real Estate

HACAX: 1.2%

Benchmark: 0.9%

-

Energy

HACAX: 0.0%

Benchmark: 0.5%

-

Materials

HACAX: 0.0%

Benchmark: 0.7%

-

Utilities

HACAX: 0.0%

Benchmark: 0.1%

HACAX: Capital Appreciation Fund

Benchmark: Russell 1000® Growth Index

As of 12/31/2023

Economic Sector

Capital Appreciation Fund %

Russell 1000® Growth Index %

Industrials

Economic sector icon
35.8
13.1

Real Estate

Economic sector icon
33.7
23.9

Information Technology

Economic sector icon
22.4
17.8

Consumer Staples

Economic sector icon
19.7
10.3

Communication Services

Economic sector icon
12.9
11.3

Consumer Discretionary

Economic sector icon
12.6
12.6

Financials

Economic sector icon
12.2
11.9

Health Care

Economic sector icon
7.1
9.1

Energy

Economic sector icon
0.0
-2.5

Materials

Economic sector icon
0.0
17.7

Utilities

Economic sector icon
0.0
23.9

Investment Team


Jennison Associates

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

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 Medalist Ratings are shown for funds that have received a rating of Gold, Silver, or Bronze The funds shown without Medalist Ratings may not have received a Medalist Rating or may have received lower ratings.

The Morningstar Medalist Rating™ is the summary expression of Morningstar’s forward-looking analysis of investment strategies as offered via specific vehicles using a rating scale of Gold, Silver, Bronze, Neutral, and Negative. The Medalist Ratings indicate which investments Morningstar believes are likely to outperform a relevant index or peer group average on a risk-adjusted basis over time. Investment products are evaluated on three key pillars (People, Parent, and Process) which, when coupled with a fee assessment, forms the basis for Morningstar’s conviction in those products’ investment merits and determines the Medalist Rating they’re assigned. Pillar ratings take the form of Low, Below Average, Average, Above Average, and High. Pillars may be evaluated via an analyst’s qualitative assessment (either directly to a vehicle the analyst covers or indirectly when the pillar ratings of a covered vehicle are mapped to a related uncovered vehicle) or using algorithmic techniques. Vehicles are sorted by their expected performance into rating groups defined by their Morningstar Category and their active or passive status. When analysts directly cover a vehicle, they assign the three pillar ratings based on their qualitative assessment, subject to the oversight of the Analyst Rating Committee, and monitor and reevaluate them at least every 14 months. When the vehicles are covered either indirectly by analysts or by algorithm, the ratings are assigned monthly. For more detailed information about these ratings, including their methodology, please go to global.morningstar.com/managerdisclosures/.

The Morningstar Medalist Ratings are not statements of fact, nor are they credit or risk ratings. The Morningstar Medalist Rating (i) should not be used as the sole basis in evaluating an investment product, (ii) involves unknown risks and uncertainties which may cause expectations not to occur or to differ significantly from what was expected, (iii) are not guaranteed to be based on complete or accurate assumptions or models when determined algorithmically, (iv) involve the risk that the return target will not be met due to such things as unforeseen changes in management, technology, economic development, interest rate development, operating and/or material costs, competitive pressure, supervisory law, exchange rate, tax rates, exchange rate changes, and/or changes in political and social conditions, and (v) should not be considered an offer or solicitation to buy or sell the investment product. A change in the fundamental factors underlying the Morningstar Medalist Rating can mean that the rating is subsequently no longer accurate.

©2024 Morningstar, Inc. All rights reserved. The information contained herein: (1) is proprietary to Morningstar and/or its content providers; (2) may not be copied or distributed; and (3) is not warranted to be accurate, complete, or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information. Past performance is no guarantee of future results.

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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 © 2024 Harbor Capital Advisors, Inc. All rights reserved.