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HACAX Harbor Capital Appreciation Instl

  • Fund
  • HACAX
  • Price as of: Aug 23, 2019
  • $72.61 - $1.75 - 2.35%
  • Category
  • Large Cap Growth Equities

HACAX - Profile

Vitals

  • YTD Return 17.2%
  • 3 Yr Annualized Return 6.2%
  • 5 Yr Annualized Return 3.5%
  • Net Assets $30.5 B
  • Holdings in Top 10 38.5%

52 WEEK LOW AND HIGH

$72.61
$57.41
$82.66

Expenses

OPERATING RELATED FEES

  • Expense Ratio 0.70%

SALES FEES

  • Front Load N/A
  • Deferred Load N/A

BROKERAGE FEES

  • Turnover 40.00%

TRADING FEES

  • Max Redemption Fee N/A

Min Investment

STANDARD (TAXABLE)

$50,000

IRA

$50,000

Investment Themes

CATEGORY

Large Cap Growth Equities
  • Fund Type Open End Mutual Fund
  • Investment Style Large Growth

Distributions

  • YTD Total Return 17.2%
  • 3 Yr Annualized Total Return 12.3%
  • 5 Yr Annualized Total Return 9.8%
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio 0.23%
DIVIDENDS
  • Dividend Yield 0.2%
  • Dividend Distribution Frequency Annually

Fund Details

  • Legal Name Harbor Capital Appreciation Fund
  • Fund Family Name Harbor
  • Inception Date Dec 29, 1987
  • Shares Outstanding N/A
  • Share Class Inst
  • Currency USD
  • Domiciled Country United States
  • Manager Spiros “Sig” Segalas

Fund Description

Harbor Capital Appreciation Fund Institutional Class (HACAX) seeks to provide long-term growth of investor capital. The actively managed fund is a pure, large-cap growth fund. The team at HACAX seeks undervalued growth stocks by engaging in research, site visits and meetings with top management. Metrics used to determine such status include balance sheet strength and sales momentum. There is no sector mandate for the fund and it can invest in international non-U.S. stocks.

Despite its low costs and great long-term performance, the fund’s growth mandate makes HACAX strictly a tactical position. The fund is managed by Jennison Associates.

HACAX - Performance

Return Ranking - Trailing

Period HACAX Return Category Return Low Category Return High Rank in Category (%)
YTD 17.2% -11.0% 42.2% 54.27%
1 Yr -9.7% -62.5% 15.9% 52.16%
3 Yr 6.2%* -37.9% 22.8% 39.38%
5 Yr 3.5%* -31.2% 23.7% 31.90%
10 Yr 9.5%* -12.5% 16.9% 23.48%

* Annualized


Return Ranking - Calendar

Period HACAX Return Category Return Low Category Return High Rank in Category (%)
2018 -10.8% -65.5% 9.4% 33.77%
2017 22.6% -28.2% 41.0% 26.35%
2016 -6.8% -56.6% 18.1% 81.28%
2015 3.9% -38.0% 11.4% 9.09%
2014 3.2% -52.4% 105.4% 38.03%

Total Return Ranking - Trailing

Period HACAX Return Category Return Low Category Return High Rank in Category (%)
YTD 17.2% -11.0% 42.2% 54.27%
1 Yr -9.7% -62.5% 23.6% 68.02%
3 Yr 12.3%* -37.9% 29.1% 31.73%
5 Yr 9.8%* -31.2% 32.5% 26.34%
10 Yr 13.3%* -12.5% 19.8% 20.18%

* Annualized


Total Return Ranking - Calendar

Period HACAX Return Category Return Low Category Return High Rank in Category (%)
2018 -10.8% -65.5% 16.5% 58.73%
2017 36.7% -28.2% 48.9% 2.93%
2016 -1.1% -56.6% 26.8% 76.11%
2015 10.9% -38.0% 17.3% 3.65%
2014 10.1% -52.4% 120.7% 43.83%

NAV & Total Return History

HACAX - Holdings

Concentration Analysis

HACAX Category Low Category High HACAX % Rank
Net Assets 30.5 B 998 K 193 B 3.88%
Number of Holdings 60 6 2032 58.06%
Net Assets in Top 10 11.8 B 592 K 54.6 B 3.88%
Weighting of Top 10 38.53% 13.6% 2577.7% 53.13%

Top 10 Holdings

  1. Amazon.com Inc 6.15%

  2. Microsoft Corp 5.34%

  3. Mastercard Inc A 4.11%

  4. Salesforce.com Inc 3.96%

  5. Visa Inc Class A 3.64%

  6. Facebook Inc A 3.56%

  7. Netflix Inc 3.29%

  8. Adobe Inc 3.08%

  9. Alibaba Group Holding Ltd ADR 2.70%

  10. Boeing Co 2.69%


Asset Allocation

Weighting Return Low Return High HACAX % Rank
Stocks
99.11% 17.95% 116.95% 31.98%
Cash
0.90% -2543.91% 54.51% 63.70%
Preferred Stocks
0.00% 0.00% 18.88% 38.85%
Other
0.00% -21.17% 4.37% 40.70%
Convertible Bonds
0.00% 0.00% 2.66% 32.16%
Bonds
0.00% 0.00% 2526.95% 36.83%

Stock Sector Breakdown

Weighting Return Low Return High HACAX % Rank
Technology
38.44% 0.00% 60.97% 15.51%
Consumer Cyclical
23.26% 0.00% 32.85% 7.05%
Healthcare
11.78% 0.00% 96.10% 76.21%
Financial Services
11.72% 0.00% 40.20% 58.85%
Industrials
8.02% 0.00% 25.96% 64.41%
Consumer Defense
4.69% 0.00% 15.95% 51.63%
Communication Services
0.60% 0.00% 15.66% 68.28%
Real Estate
0.59% 0.00% 10.15% 56.74%
Utilities
0.00% -0.01% 9.45% 55.07%
Energy
0.00% 0.00% 15.29% 75.42%
Basic Materials
0.00% 0.00% 11.46% 86.96%

Stock Geographic Breakdown

Weighting Return Low Return High HACAX % Rank
US
87.39% 7.01% 115.79% 76.39%
Non US
11.72% 0.00% 92.52% 11.63%

HACAX - Expenses

Operational Fees

HACAX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 0.70% 0.00% 15.15% 83.00%
Management Fee 0.60% 0.00% 1.44% 41.50%
12b-1 Fee N/A 0.00% 1.00% N/A
Administrative Fee N/A 0.00% 1.02% N/A

Sales Fees

HACAX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load N/A 2.50% 8.50% N/A
Deferred Load N/A 1.00% 5.50% N/A

Trading Fees

HACAX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Max Redemption Fee N/A 0.05% 5.00% N/A

Turnover Related Fees

Turnover provides investors a proxy for the trading fees incurred by mutual fund managers who frequently adjust position allocations. Higher turnover means higher trading fees.

HACAX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 40.00% 0.00% 838.00% 49.34%

HACAX - Distributions

Dividend Yield Analysis

HACAX Category Low Category High HACAX % Rank
Dividend Yield 0.20% 0.00% 0.11% 30.40%

Dividend Distribution Analysis

HACAX Category Low Category High Category Mode
Dividend Distribution Frequency Annually Annually Semi-Annually Annually

Dividend Payout History


Net Income Ratio Analysis

HACAX Category Low Category High HACAX % Rank
Net Income Ratio 0.23% -14.30% 2.62% 36.48%

Capital Gain Distribution Analysis

HACAX Category Low Category High Capital Mode
Capital Gain Distribution Frequency Annually Annually Semi-Annually Annually

HACAX - Managers

Spiros “Sig” Segalas

Manager

Start Date

Tenure

Tenure Rank

May 01, 1990

29.27

29.3%

Spiros "Sig" Segalas is one of the founders of Jennison Associates. In addition to managing institutional portfolios, he has managed the Harbor Capital Appreciation Fund since May 1990. He is also co-manager of the Prudential Jennison Blend Fund, Prudential Jennison Growth Fund, Prudential Jennison 20/20 Focus Fund, and the Prudential Jennison Select Growth Fund. Sig and his Large Cap Growth team have received numerous industry accolades over the years. Sig began his investment career as a research analyst with Bankers Trust Company in 1960 and was responsible for technology, aerospace, and conglomerate securities. In 1963, he was appointed group head of the technology group; in 1967, he was asked to manage a newly introduced commingled emerging growth fund, The Supplemental Equity Fund, for the bank's institutional clients. He was also appointed to the bank's investment policy group. Sig received a BA from Princeton University, after which he served as an officer in the US Navy. He also spent some time in the shipping and construction industries before joining Bankers Trust.


Kathleen A. McCarragher

Manager

Start Date

Tenure

Tenure Rank

Mar 01, 2013

6.42

6.4%

Kathleen A. McCarragher is a managing director, the head of growth equity, and a large cap growth equity portfolio manager. She joined Jennison Associates in May 1998. Prior to Jennison, Kathleen spent six years with Weiss, Peck & Greer, where she was a managing director and the director of large cap growth equities. In addition, Kathleen spent 10 years with State Street Research & Management, initially as a research analyst responsible for health care, transports, and financials and then as a portfolio manager and member of the investment committee. She received a BBA from the University of Wisconsin-Eau Claire, summa cum laude, and an MBA from Harvard Business School.


Natasha Kuhlkin

Manager

Start Date

Tenure

Tenure Rank

Mar 01, 2019

0.42

0.4%

Natasha Kuhlkin, CFA, is a managing director and a large cap growth equity portfolio manager and research analyst. She joined Jennison Associates in May 2004. Prior to Jennison, Natasha was an equity research analyst at Palisade Capital Management, covering the consumer staples and cyclicals sectors. From 1998 to 2003, Natasha was with Evergreen Investment Management, where she was an analyst for the Evergreen Small Cap Value Fund. She received a BS, magna cum laude, in accounting from Binghamton University.


Blair A. Boyer

Manager

Start Date

Tenure

Tenure Rank

Mar 01, 2019

0.42

0.4%

Blair A. Boyer is a managing director and a large cap growth equity portfolio manager. He joined Jennison Associates in March 1993. Prior to joining the Growth Equity team in 2003, Blair co-managed international equity portfolios for 10 years. During his tenure as an international equity portfolio manager, he managed the Jennison International Growth Fund from its inception in March 2000. Blair managed international equity portfolios at Bleichroeder from 1989 to 1993. Prior to that, he was a research analyst and then a senior portfolio manager in the Verus Capital division at Bleichroeder beginning in 1983. He received a BA in economics from Bucknell University and an MBA in finance from New York University.


Tenure Analysis

Category Low

0.0

Category High

51.53

Category Average

8.48

Category Mode

0.0