HGGAX — Harbor Global Leaders Fund
Data updated: 2023-09-29
HGGAX — Harbor Global Leaders Fund. Europe Growth Equity · $40.83M AUM · 0.86% expense ratio · 6.5% 1-yr return. Holdings, fees, performance and SEC filings.
HGGAX Fund Overview
HGGAX — Harbor Global Leaders Fund is a US mutual fund managed by Harbor Funds, categorised as Europe Growth Equity. ABC INVEST provides holdings, performance, costs, cashflows, risk data, prospectus documents and SEC filings, sourced from SEC filings.
- Type: US mutual fund
- Manager: Harbor Funds
- Category: Europe Growth Equity
- Assets under management: $40.83M
- 1-year return: 6.5%
- Ticker: HGGAX
- SEC CIK: 0000793769
- SEC series ID: S000025062
- Share class ID: C000074559
HGGAX Investment Objective and Strategy
Harbor Global Leaders Fund describes its objective and strategy as follows, from its latest prospectus filed with the SEC by Harbor Funds.
Investment objective
The Fund seeks long-term growth of capital.
Principal investment strategy
"The Fund invests primarily in equity securities of publicly-traded companies located anywhere in the world, including in developed and emerging markets. Under normal market conditions, the Fund expects to invest in at least three countries, including the United States, and invest at least 40% of its assets in foreign companies. The Fund may invest in companies at any stage of their growth lifecycles, but will focus on companies that the Subadviser believes are capable of generating sustainable, above-average, and relatively stable rates of earnings per share growth and strong free cash flows. The Subadviser seeks investment opportunities in companies that the Subadviser believes are leaders in their country, industry, or globally in terms of products, services, or execution. In selecting securities for the Fund, the Subadviser utilizes a fundamental, bottom-up, business-focused research approach.
The Subadviser seeks to identify growing businesses that meet the following six investment criteria: sustainable above-average earnings growth; leadership position in a promising business space; significant competitive advantages; clear mission and value-added focus; financial strength; and rational valuation relative to the market and business prospects. Companies that the Subadviser determines may meet all six investment criteria are then screened with in-depth qualitative and quantitative research, including a full competitive analysis and proprietary financial modeling. The investment process generally results in a portfolio of 30-50 companies and, from time to time, may result in more substantial investments in particular sectors. Sector allocations are the outcome of the Subadviser's bottom-up investment process.
The Fund intends to hold securities for the longer term, generally three to five years. The Subadviser may sell or trim back a particular holding as a result of the Subadviser's identification of an issue that negatively impacts the Subadviser's assessment of one or more of the six investment criteria discussed above that the Subadviser believes cannot be resolved within an acceptable time frame. The Subadviser may also sell a holding if it believes the security has become materially overvalued relative to its underlying business, for risk management purposes, and/or if a more attractive investment opportunity is identified. While the Fund may invest in equity securities of companies of any size, the Fund will primarily invest in large and mid-capitalization companies. As such, the Fund will generally not invest in companies with a market capitalization of less than $2 billion, at the time of acquisition, and its total median market capitalization will typically be significantly greater than that of the MSCI All Country World Index, the Fund's benchmark.
The equity securities in which the Fund invests include common stocks as well as preferred securities. The Fund may also purchase American Depositary Receipts (""ADRs""), European Depositary Receipts (""EDRs"") and Global Depositary Receipts (""GDRs"" and, together with ADRs and EDRs, ""Depositary Receipts""), which are certificates typically issued by a bank or trust company that represent ownership interests in securities issued by a foreign or domestic company. From time to time, the Fund may have significant investments in one or more countries. The Fund may invest up to the greater of 30% of its assets or three times the emerging markets component of the MSCI All Country World Index, in securities of companies located in emerging markets. As of December 31, 2017, the emerging markets component of the MSCI All Country World Index was 11.8% of the total index.
The Fund may use foreign exchange spot contracts and foreign exchange forwards to seek to hedge currency exposure. A foreign exchange spot contract is an agreement to buy or sell a specific currency for immediate delivery (i.e., ""on the spot"") as opposed to a set date in the future. The Fund may also invest in market access products, such as low exercise price warrants (""LEPWs"") and participatory notes (""P-notes""), to seek to gain economic exposure to markets where holding an underlying local security is not feasible or economical. A ""market access product"" is a derivative security that provides market exposure to an underlying foreign issuer."
HGGAX Performance
Total returns for HGGAX (as of 2026-10-01), from SEC filings.
| Period | Total return |
|---|---|
| 1 year | 6.5% |
| 3 years (annualised) | 1.5% |
HGGAX Risk Information
Risk metrics for HGGAX, derived from monthly returns in SEC filings.
- 1-year volatility (annualised): 21.6%
HGGAX Costs and Fees
HGGAX costs about $86 per $10,000 invested per year in fund expenses.
- Net expense ratio: 0.86%
- Gross expense ratio: 1.00%
- Portfolio turnover: 29%
- Brokerage commissions: 2.31 bps of average net assets (SEC N-CEN)
HGGAX Cashflows
Over the 12 months to 2023-07, Harbor Global Leaders Fund had net outflows of $34.83M, from monthly SEC N-PORT filings.
| Month | Net flow |
|---|---|
| 2023-07 | −$5.67M |
| 2023-06 | −$12.51M |
| 2023-05 | −$10.97M |
| 2023-04 | −$1.98M |
| 2023-03 | −$539.28K |
| 2023-02 | −$1.40M |
HGGAX Debt Constituents
No individual debt constituents are reported in Harbor Global Leaders Fund's latest SEC N-PORT filing.
HGGAX Prospectus and SEC Filings
Official Harbor Global Leaders Fund filings on SEC EDGAR — prospectus, portfolio holdings and annual reports.
- Prospectus (485BPOS) — filed 2023-02-24
- Prospectus (485BPOS) — filed 2022-02-23
- Prospectus (485BPOS) — filed 2021-02-23
- Portfolio holdings (N-PORT) — filed 2023-09-29
- Portfolio holdings (N-PORT) — filed 2023-06-22
- Portfolio holdings (N-PORT) — filed 2023-03-31
- Annual census (N-CEN) — filed 2023-01-11
- Annual census (N-CEN) — filed 2022-01-14
Related Funds
Other Europe Growth Equity funds tracked on ABC INVEST:
Data Sources
ABC INVEST compiles this page from public filings made to the U.S. Securities and Exchange Commission (SEC) through EDGAR: portfolio holdings and monthly cashflows from Form N-PORT, expenses and returns from fund prospectuses (Form 485BPOS) and the SEC DERA Risk/Return Summary data sets, annual data from Form N-CEN, and shareholder reports from Form N-CSR.