The Harbor Capital Appreciation Fund has made a minor adjustment to its portfolio in the first quarter of 2026, slightly reducing its holding in NVIDIA. The fund's allocation to the chipmaker decreased by approximately 0.82 percentage points, moving from 12.77% down to 10.93%.

As of January 31, 2026, the fund continues to hold approximately 14.78 million shares of NVIDIA stock, with a total value of around $2.83 billion. This ensures the company remains the fund's single largest investment.

Historical Trading Activity

Looking at the fund's historical trading activity, it first established a position in NVIDIA in the second quarter of 2016. Since that initial purchase, the fund has accumulated a total of roughly 382 million shares at an average cost of about $3.59 per share. Over the same period, it has sold approximately 367 million shares at an average price of around $16.43.

The recent reduction continues a trend of gradual selling in recent years. In Q1 2026 alone, the fund sold off about 3.79 million shares, representing a decrease of roughly 20.42% in its position for that period.

Fund Composition and Other Major Holdings

The fund's total assets under management are approximately $27.1 billion, spread across a portfolio of 47 stocks. Its top ten holdings account for about 58.7% of the total portfolio, with technology stocks making up the vast majority of the investments.

Aside from NVIDIA, the fund's other significant holdings include Amazon.com Inc. at 8.39%, Broadcom Inc. at 7.90%, Apple Inc. at 6.44%, and Microsoft Corporation at 5.43%.

Overall Sentiment Remains Positive

This minor reduction does not alter NVIDIA's central role within the fund's strategy. From a broader institutional perspective, NVIDIA continues to be a favored holding among major investors. Approximately 65.27% of the company's outstanding shares are held by hedge funds and other institutional investors.

Wall Street analysts maintain a consensus 'buy' rating on the stock, with an average price target of around $303.84.