Manager Skill Review · Fund (strategy-level)
HACAX — Harbor Capital Appreciation Fund
ERM3 analysis of the fund's reported holdings. Residual return is the component remaining after the specified model exposures; it does not establish predictive manager skill.
Large Growth · 43 holdings · eff. N 20 · top-10 61%
- Evidence
- N-PORT · registered-fund holdings
- Holdings as of
- 2026-04-30
- Filed
- 2026-06-26
- Model
- ERM3 v3.0
Summary Risk Profile
Return attribution vs risk decompositionHarbor Capital Appreciation Fund is a Large Growth strategy across 43 names (effective N 20, top-10 61%). Harbor Capital Appreciation Fund's +27.9% trailing return was led by market beta (+33.4% market); stock selection contributed +0.6%. About 2% of the trailing gross return came from stock selection versus buyable and style exposure — a exposure-driven signature (return-based, swings with the window).Beta to SPY 1.24 explains 82% of NAV variance; ERM3's multifactor model captures 94% · modeled-vs-reported NAV correlation 0.94 over 199 months.Evidence — not a recommendation.
Cumulative return
trailing 12m · gross vs buyableStrategy-level read from the fund's reported holdings via the RiskModels ERM3 model. Figures are gross, holdings-derived, and within-mandate. Informational use only — not investment advice.