Insights from the Latest N-PORT Filing Reveal Significant Moves
Harbor Capital Appreciation Fund (Trades, Portfolio), a segment of Jennison Associates LLC, has recently disclosed its N-PORT filing for Q4 2023, offering a window into the strategic investment decisions made during this period. The fund, which was under the stewardship of Spiros Segalas until his passing in January 2023, continues to pursue a philosophy centered on identifying long-term growth catalysts, such as disruptive technologies and expanding markets. The team prioritizes investments in companies with sustainable competitive advantages, robust financials, and what they consider to be reasonable valuations.
Summary of New Buys
Harbor Capital Appreciation Fund (Trades, Portfolio) expanded its portfolio with 2 new stocks, notably:
- HubSpot Inc (HUBS, Financial), purchasing 242,486 shares, which now comprise 0.46% of the portfolio, valued at $102.76 million.
- ARM Holdings PLC (ARM, Financial), acquiring 1,714,043 shares, making up about 0.38% of the portfolio, with a total value of $84.49 million.
Key Position Increases
The fund also bolstered its positions in 12 stocks, with significant increases in:
- Amazon.com Inc (AMZN, Financial), adding 1,464,393 shares, bringing the total to 12,833,499 shares. This represents a 12.88% increase in share count and a 0.87% impact on the current portfolio, valued at $1.71 billion.
- UnitedHealth Group Inc (UNH, Financial), with an additional 259,884 shares, now totaling 761,185 shares. This adjustment marks a 51.84% increase in share count, valued at $407.66 million.
Summary of Sold Out Positions
The fund exited 4 holdings in the fourth quarter of 2023, including:
- Adyen NV (XAMS:ADYEN, Financial), selling all 163,908 shares, impacting the portfolio by -1.18%.
- S&P Global Inc (SPGI, Financial), liquidating all 432,508 shares, with a -0.66% impact on the portfolio.
Key Position Reductions
Harbor Capital Appreciation Fund (Trades, Portfolio) reduced its stakes in 37 stocks. The most notable reductions were:
- Apple Inc (AAPL, Financial), cutting back by 2,469,453 shares, leading to a -26.26% decrease in shares and a -1.89% impact on the portfolio. AAPL's average trading price was $177.66 during the quarter, with a 12.41% return over the past 3 months and a 49.41% year-to-date return.
- NVIDIA Corp (NVDA, Financial), decreasing by 641,255 shares, resulting in a -13.08% reduction in shares and a -1.17% impact on the portfolio. NVDA's average trading price was $444.2 during the quarter, with a 17.59% return over the past 3 months and a 237.35% year-to-date return.
Portfolio Overview
As of the end of Q4 2023, Harbor Capital Appreciation Fund (Trades, Portfolio)'s portfolio consisted of 51 stocks. The top holdings were 8.68% in Microsoft Corp (MSFT, Financial), 7.72% in NVIDIA Corp (NVDA), 7.59% in Amazon.com Inc (AMZN, Financial), 5.26% in Apple Inc (AAPL), and 4.12% in Eli Lilly and Co (LLY, Financial). The investments are predominantly concentrated in 7 industries: Technology, Consumer Cyclical, Healthcare, Communication Services, Financial Services, Consumer Defensive, and Real Estate.
This article, generated by GuruFocus, is designed to provide general insights and is not tailored financial advice. Our commentary is rooted in historical data and analyst projections, utilizing an impartial methodology, and is not intended to serve as specific investment guidance. It does not formulate a recommendation to purchase or divest any stock and does not consider individual investment objectives or financial circumstances. Our objective is to deliver long-term, fundamental data-driven analysis. Be aware that our analysis might not incorporate the most recent, price-sensitive company announcements or qualitative information. GuruFocus holds no position in the stocks mentioned herein.
