Harbor Diversified International All Cap Fund (HIIDX)
Harbor Diversified International All Cap Fund (HIIDX)
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Broad Exposure. The fund’s diversified all-cap approaches means it can serve as a stand-alone fund for gaining exposure to international stocks.
Fundamentally Driven. Marathon’s capital cycle approach is grounded in enduring investment principles. Fundamental research drives investment decisions, which aims to create a portfolio with meaningful active positions relative to the benchmark.
Distinctive Team Structure. Each PM at Marathon is an experienced regional specialist and manages his sleeve independently. This reduces key man risk, guards against group think, and allows diverse investment opinions to be expressed across the portfolio.
Related Funds to Consider
- Harbor International Fund
- Harbor International Core Fund
- Harbor International Growth Fund
- Harbor International Compounders ETF
“In the long-run, the intensity of competition, rather than the growth of an industry, is what ultimately determines the investment outcome.”
Charles Carter
Managing Director and Portfolio Manager, Europe
Performance
Price History
Distribution History
Record Date
Reinvest Date
Payable Date
Return of Capital Non Taxable Dist
Ordinary Income
Total Capital Gains
Short Term Capital Gains
Mid Term Capital Gains
Long Term Capital Gains
Total Distribution
Foreign Tax Credit
Reinvest Price
Holdings
Full Holdings
As of 6/30/2024
Company Name [Ticker]
Country
Shares (000's)
Current Price ($)
Market Value ($000's)
% of Net Assets
Sector Returns
As of 6/30/2024
Economic Sector
Diversified International All Cap Fund %
MSCI All Country World Ex. US (ND) Index %
Information Technology
Financials
Health Care
[Unassigned]
Utilities
Materials
Industrials
Energy
Consumer Staples
Consumer Discretionary
Communication Services
Real Estate
Sector Allocations
As of 6/30/2024
Diversified International All Cap Fund (HAIDX)
MSCI All Country World Ex. US (ND) Index
Financials
HAIDX: 22.6%
Benchmark: 21.5%
Industrials
HAIDX: 20.9%
Benchmark: 13.6%
Consumer Discretionary
HAIDX: 12.2%
Benchmark: 11.0%
Information Technology
HAIDX: 11.3%
Benchmark: 13.9%
Consumer Staples
HAIDX: 8.4%
Benchmark: 7.3%
Materials
HAIDX: 7.6%
Benchmark: 7.0%
Health Care
HAIDX: 7.0%
Benchmark: 9.5%
Energy
HAIDX: 4.1%
Benchmark: 5.5%
Communication Services
HAIDX: 3.0%
Benchmark: 5.3%
Cash
HAIDX: 2.2%
Benchmark: NaN%
Real Estate
HAIDX: 0.7%
Benchmark: 1.8%
Utilities
HAIDX: NaN%
Benchmark: 3.1%
HAIDX: Diversified International All Cap Fund
Benchmark: MSCI All Country World Ex. US (ND) Index
Top 10 Countries
As of 6/30/2024
Country
Diversified International All Cap Fund %
MSCI All Country World Ex. US (ND) Index %
Investment Team
Marathon Asset Management LLP (Marathon-London) is an independent investment management firm with a 30+ year track record of managing regional, international and global equity strategies on behalf of institutional clients. Marathon-London’s distinctive investment philosophy, referred to as the capital cycle approach to investing, focuses on understanding the supply-side longer-term dynamics within a competitive ecosystem, management behavior in driving an attractive capital cycle dynamic, and how the evolution of supply-side forces impact the economics of the businesses within a particular industry. Marathon-London operates a multi-counselor model in which portfolio managers are generalists focused on specific regions (Europe, Japan, Asia ex-Japan and the Emerging Markets, and North America) and are independently accountable for their own buy/sell decisions. Each portfolio is then aggregated up for broader international and global equity mandates. There are no committee-based decision-making structures which, in turn, allows the portfolio managers the independence and flexibility to execute their skills as stock pickers and aligns their incentives with that of Marathon-London’s clients.
Documents
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Date
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Important Information
From time to time, certain fees and/or expenses have been voluntarily or contractually waived or reimbursed, which has resulted in higher returns. Without these waivers or reimbursements, the returns would have been lower. Voluntary waivers or reimbursements may be applied or discontinued at any time without notice. Only the Board of Trustees may modify or terminate contractual fee waivers or expense reimbursements.
As a result of changing market conditions, total net asset levels, expenses and other factors may change at any time during the current fiscal period and may differ from those shown.
There is no guarantee that the investment objective of the Fund will be achieved. Stock markets are volatile and equity values can decline significantly in response to adverse issuer, political, regulatory, market and economic conditions. Investing in international and emerging markets poses special risks, including potentially greater price volatility due to social, political and economic factors, as well as currency exchange rate fluctuations. These risks are more severe for securities of issuers in emerging market regions. Stocks of small and mid cap companies pose special risks, including possible illiquidity and greater price volatility than stocks of larger, more established companies. Marathon-London's assessment of the capital cycle for a particular industry or company may be incorrect. Investing in companies at inopportune phases of the capital cycle can result in the Fund purchasing company stock at pricing levels that are higher than the market dynamics would support and therefore subject the Fund to greater risk that the stock price would decline rather than increase over time.
Weighted Average Market Capitalization: The average size of the companies in a portfolio or index as measured by the market value of outstanding shares.
Price/Book: The price-to-book (P/B) ratio evaluates a firm's market value relative to its book value.
Adjusted Trailing P/E Ratio: The Adjusted Trailing P/E (Price/Earnings) Ratio is the closing stock price divided by the sum of the last 12 months actual EPS.
% EPS Growth – Past 3 year: Earnings per share refers to the bottom-line measure of a company’s profitability defined as net income divided by the number of outstanding shares.
Return on Equity: Return on equity (ROE) is a measure of financial performance calculated by dividing net income by shareholders' equity.
Forecasted P/E Ratio: a measure of the P/E (price-to-earnings) ratio using forecasted earnings for the P/E calculation.
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