Spiros Segalas

Spiros Segalas

Harbor Capital Appreciation Fund
Last update 2021-06-29 56 Stocks (4 new)
Value $40.47 Bil Turnover 7 %
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Spiros Segalas Profile

President - Jennison Associates LLC Since 1993
Chief Investment Officer - Jennison Associates Since 1973
Director and Founding Member - Jennison Associates LLC Since 1969

The Harbor Capital Appreciation Fund, subadvised by Jennison Associates, LLC, invests primarily in equity securities, specifically U.S. companies with market capitalizations of at least $1 billion at the time of purchase. Through rigorous research, visits, and meetings with top management, the portfolio manager knows these businesses intimately, and only invests in those that the portfolio manager believes have:

a) Strong balance sheets and earnings performance
b) Sales momentum and growth outlook
c) High profitability history or potential
d) Unique market position
e) A capable and committed management team

The Fund stays fully invested in stocks and does not try to time the market, but instead works toward steady investment growth.

Spiros Segalas Investing Philosophy

Principal Style Characteristics: Mid to large cap growth stocks

The Fund invests primarily in equity securities, principally common and preferred stocks, of U.S. companies with market capitalizations of at least $1 billion at the time of purchase and that the Subadviser considers to have above average prospects for growth.

The Subadviser uses a bottom-up approach, researching and evaluating individual companies, to manage the Fund's portfolio. This research includes visits to companies and discussions with company management.

In selecting stocks for the Fund's portfolio, the Subadviser looks for companies that it believes have the following financial characteristics:

a) Superior absolute and relative earnings growth
b) Superior sales growth, improving sales momentum and high levels of unit growth
c) High or improving profitability
d) Strong balance sheets

In addition, the Subadviser looks for companies that have actually achieved or exceeded expected earnings results and, in the opinion of the Subadviser, are attractively valued relative to their growth prospects.

The Subadviser focuses on stocks of companies that it believes have distinct attributes such as:

a) Strong market position with a defensible franchise
b) Unique marketing competence
c) Strong research and development leading to superior new product flow
d) Capable and disciplined management

The Subadviser prefers companies that are in the early stages of demonstrating the above financial and other characteristics.

The stocks of mid and large cap companies in the Fund's portfolio are those the Subadviser expects to maintain or achieve above average earnings growth. The Fund may invest up to 20% of its total assets in the securities of foreign issuers, including issuers located or doing business in emerging markets.

Performance of Harbor Capital Appreciation Fu

Year Return % S&P500 % Excess Gain %
2020 53.87 16.16 37.7
2019 32.8 28.79 4
2018 -1.39 -6.35 5
3-Year Cumulative (2018-2020) 101.50 (26.31/Year) 40.10 (11.90/Year) 61.40 (14.41/Year)
2017 36.08 19.38 16.7
2016 -1.43 9.64 -11.1
5-Year Cumulative (2016-2020) 170.28 (22.00/Year) 83.38 (12.89/Year) 86.90 (9.11/Year)
2015 10.58 -0.81 11.4
2014 9.53 11.29 -1.8
2013 37.15 29.69 7.5
2012 15.27 13.47 1.8
2011 0.22 -0.2 0.4
10-Year Cumulative (2011-2020) 418.67 (17.89/Year) 197.30 (11.51/Year) 221.37 (6.38/Year)
2010 11.2 12.84 -1.6
2009 41.39 23.49 17.9
2008 -37.36 -38.28 0.9
2007 11.83 3.24 8.6
2006 1.91 13.74 -11.8
15-Year Cumulative (2006-2020) 482.15 (12.46/Year) 200.24 (7.60/Year) 281.91 (4.86/Year)
2005 13.51 3.01 10.5
2004 8.92 8.62 0.3
2003 29.89 26.12 3.8