Harbor Mid Cap Value Fund Retirement Class
HNMVX
NASDAQ- -
USD
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Capital Structure
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in mil. unless spec.Working Capital
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in mil. unless spec.Growth Rates
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in mil. unless spec.Quarterly Revenue
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in mil. unless spec.Quarterly Earnings Per Share
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in mil. unless spec.- Sector
- Financial Services
- Industry
- Asset Management
- Address
- 111 South Wacker Drive Chicago IL United States of America 60606
- IPO Date
- Mar 1, 2016
- CIK
- 0000793769
- Website
- harborcapital.com
- Similar Companies
- Business
- Harbor Mid Cap Value Fund Retirement Class (HNMVX) 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, principally common stocks, of mid cap companies. Under normal market conditions, the Fund invests at least 80% of its net assets, plus borrowings for investment purposes, in securities of mid cap companies defined by market capitalizations within the range of the Russell Midcap Value Index (as of December 31, 2023, $270 million to $73 billion, with an upper limit of $15 billion if the index range falls below that threshold); the strategy targets undervalued companies exhibiting indicators of fundamental undervaluation (such as low price-to-cash flow or price-to-earnings ratios), past negative market sentiment, recent positive momentum, and controlled incremental risk relative to the benchmark, incorporating environmental, social, and governance (ESG) factors where material. Harbor Capital Advisors, Inc., based in Chicago, Illinois, serves as the investment adviser, with LSV Asset Management acting as subadvisor since September 2004; the portfolio management team includes Josef Lakonishok (CEO and CIO), Menno Vermeulen, Puneet Mansharamani, Greg Sleight, and Guy Lakonishok, utilizing LSV's proprietary quantitative model rooted in academic research on value investing, contrarian strategies, and behavioral finance. The Retirement Class (HNMVX), launched March 1, 2016, features a net expense ratio of 0.77% after contractual fee 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), a portfolio turnover rate of 10%, and total net assets of approximately $282 million as of recent data; shares are available to retirement plans and certain wrap programs with a $1 million minimum initial investment (waived for omnibus plans). The Fund offers four share classes—Retirement (HNMVX), Institutional (HAMVX, minimum $50,000), Administrative (HRMVX, plan-specific), and Investor (HIMVX, minimum $2,500/$1,000 for IRAs)—distributed through financial intermediaries with no front-end or deferred loads; distributions are taxed as ordinary income or capital gains unless held in tax-deferred accounts, with recent payouts including $1.51 per share in December 2024 (ordinary income $0.38, short-term capital gains $0.07, long-term capital gains $1.07). Sector allocations as of September 30, 2024, emphasize financials (20.1%), industrials (15.4%), consumer discretionary (14.3%), and health care (10.3%), with a broadly diversified, risk-aware portfolio spanning U.S. stocks (96%+), minimal non-U.S. exposure, and cash (1.1%); top holdings reflect value-oriented mid cap names across basic, established businesses. Recent developments include the extension of contractual expense limitations and management fee reductions through February 28, 2025, alongside portfolio manager continuity under LSV; Harbor Capital Advisors has pursued strategic expansions in 2025, such as launching the Harbor Mid Cap Value ETF (EPMV) on May 1, 2025, applying a similar active quantitative value strategy to 40-70 undervalued U.S. mid cap companies, and introducing Flagship Models in November 2025 to broaden portfolio solutions for advisors. In May 2025, Anne F. Ackerley joined the Harbor Funds Board of Trustees, and Owuraka Koney was added to certain Harbor fund management teams effective July 1, 2025; LSV reported Q1 2025 performance of -3.56% for the Fund (vs. -3.40% Russell Midcap Index), with ongoing 13F activity including increased stakes in names like Bar Harbor Bankshares. These initiatives reflect Harbor's commitment to diversifying active strategies amid elevated market volatility, with the Fund maintaining a Morningstar Medalist Rating and Behavioral Alpha Benchmark recognition for its systematic valuation discipline.