Harbor Mid Cap Value Fund
HAMVX
NASDAQ- -
USD
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- -
Capital Structure
FRC
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in mil. unless spec.Working Capital
FRC
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in mil. unless spec.Growth Rates
FRC
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in mil. unless spec.Quarterly Revenue
FRC
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in mil. unless spec.Quarterly Earnings Per Share
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in mil. unless spec.Quarterly Dividends Per Share
FRC
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in mil. unless spec.- CEO
- Timothy G. DaltonBiography
- Sector
- Financial Services
- Industry
- Asset Management
- Address
- Chicago, IL 60606-4302 Chicago IL United States of America 60606
- IPO Date
- Mar 4, 2002
- CIK
- 0000793769
- Website
- harborcapital.com
- Similar Companies
- Business
- Harbor Mid Cap Value Fund (HAMVX) is an open-end mutual fund that seeks long-term total return through a quantitative, bottom-up contrarian value investment strategy focused primarily on equity securities of mid cap companies. The Institutional Class shares, ticker HAMVX, invest at least 80% of net assets plus borrowings for investment purposes in common stocks and other equity securities of mid cap companies defined by market capitalizations within the range of the Russell Midcap Value Index (approximately $270 million to $73 billion as of December 31, 2023, with an upper limit of $15 billion if the index range falls below that threshold); the portfolio emphasizes undervalued stocks identified via proprietary models incorporating indicators of fundamental undervaluation (e.g., low price-to-cash flow or price-to-earnings ratios), past negative market sentiment, recent momentum, and risk controls relative to the benchmark, while considering material environmental, social, and governance (ESG) factors. Subadvised by LSV Asset Management since September 2004, the fund employs a broadly diversified, risk-aware portfolio managed by a team including Josef Lakonishok (Ph.D., CEO and CIO), Menno Vermeulen (CFA), Puneet Mansharamani (CFA), Greg Sleight, and Guy Lakonishok (CFA), with sector allocations as of December 31, 2024, including financials (22.4%), industrials (16.2%), consumer discretionary (13.2%), information technology (9.6%), and health care (9.5%), alongside top holdings such as State Street Corp, Bank of New York Mellon Corp, Hartford Insurance Group Inc, Fox Corp, and PulteGroup Inc. Harbor Capital Advisors, Inc. serves as the investment advisor, with the fund domiciled in the United States and available primarily to U.S. investors through financial intermediaries, employer-sponsored retirement plans, and direct accounts; the Institutional Class requires a $50,000 minimum initial investment ($1,000,000 for Retirement Class HNMVX), features a net expense ratio of 0.85% after contractual waivers through February 28, 2025 (management fee reduced to 0.70% on assets between $350 million and $1 billion and 0.65% above $1 billion), and maintains low portfolio turnover of 10% in the most recent fiscal year. Total net assets stand at approximately $365.52 million, with Institutional Class shares comprising $226.33 million, targeting institutional and high-net-worth investors seeking exposure to U.S. mid cap value equities (96.43% U.S. stocks, 2.45% non-U.S. stocks, 1.12% cash as of the latest reporting). The fund, launched on March 1, 2002, operates from Harbor Capital's headquarters at 111 South Wacker Drive, 34th Floor, Chicago, IL 60606, with no subsidiaries or parent company relationships noted beyond the advisor-subadvisor structure. Recent developments include LSV Asset Management's receipt of the Behavioral Alpha Benchmark Award for the fund as of December 31, 2023 (out of 116 managers), recognizing superior decision-making in stock picking, timing, and sizing via attribution analysis; a Morningstar Medalist Rating™ as of March 27, 2024, affirming the strategy's forward-looking merits across People, Parent, and Process pillars; and sustained contractual expense limitations and management fee tiering extended through February 28, 2025 to enhance cost efficiency amid assets under management growth. The fund reported quarterly performance commentary for Q3 2024, highlighting sector returns and portfolio adjustments, while distribution history through December 2024 reflects consistent capital gains and ordinary income payouts supporting shareholder returns. No major acquisitions, funding rounds, name changes, or strategic shifts were announced in the last 1-2 years, with operations remaining focused on systematic deep-value mid cap equity strategies amid stable subadvisor tenure and quantitative model evolution informed by academic research in value investing, contrarian approaches, and behavioral finance.