Harbor Convertible Securities Investor
Name
Price
Aum/Mkt Cap
YIELD & DIV
Exp Ratio
Watchlist
Vitals
YTD Return
-13.8%
1 yr return
-12.5%
3 Yr Avg Return
8.4%
5 Yr Avg Return
7.2%
Net Assets
$177 M
Holdings in Top 10
13.7%
52 WEEK LOW AND HIGH
Expenses
OPERATING FEES
Expense Ratio 1.12%
SALES FEES
Front Load N/A
Deferred Load N/A
TRADING FEES
Turnover 50.00%
Redemption Fee N/A
Min Investment
Standard (Taxable)
$2,500
IRA
$1,000
Fund Classification
Fund Type
Open End Mutual Fund
Investment Style
Convertibles
Name
Price
Aum/Mkt Cap
YIELD & DIV
Exp Ratio
Watchlist
HICSX - Profile
Distributions
- YTD Total Return -13.8%
- 3 Yr Annualized Total Return 8.4%
- 5 Yr Annualized Total Return 7.2%
- Capital Gain Distribution Frequency Annually
- Net Income Ratio -0.29%
- Dividend Yield 0.0%
- Dividend Distribution Frequency Quarterly
Fund Details
-
Legal NameHarbor Convertible Securities Fund
-
Fund Family NameHarbor
-
Inception DateMay 02, 2011
-
Shares OutstandingN/A
-
Share ClassInv
-
CurrencyUSD
-
Domiciled CountryUnited States
-
ManagerMark Shenkman
Fund Description
Under normal market conditions, the fund invests at least 80% of its net assets, plus borrowings for investment purposes, in a diversified portfolio of convertible securities. It also focuses primarily on convertible securities of corporate issuers with debt rated below investment-grade (below Baa3 by Moody's or below BBB- by S&P or Fitch), commonly referred to as "high-yield" or "junk" bonds.
HICSX - Performance
Return Ranking - Trailing
Period | HICSX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
YTD | -13.8% | -31.9% | 5.7% | 35.29% |
1 Yr | -12.5% | -20.8% | -1.5% | 40.70% |
3 Yr | 8.4%* | 3.3% | 16.1% | 79.27% |
5 Yr | 7.2%* | 2.6% | 14.2% | 85.19% |
10 Yr | 6.5%* | 5.9% | 12.3% | 94.67% |
* Annualized
Return Ranking - Calendar
Period | HICSX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
2021 | -10.7% | -18.9% | 2.4% | 40.96% |
2020 | 19.7% | 5.8% | 54.0% | 86.08% |
2019 | 13.7% | 9.9% | 24.4% | 87.34% |
2018 | -6.5% | -15.4% | -2.5% | 28.95% |
2017 | -2.5% | -7.8% | 15.4% | 93.24% |
Total Return Ranking - Trailing
Period | HICSX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
YTD | -13.8% | -31.9% | 5.7% | 30.59% |
1 Yr | -12.5% | -20.8% | 33.8% | 36.78% |
3 Yr | 8.4%* | 3.3% | 16.1% | 79.52% |
5 Yr | 7.2%* | 2.6% | 14.2% | 84.15% |
10 Yr | 6.5%* | 5.9% | 12.3% | 94.67% |
* Annualized
Total Return Ranking - Calendar
Period | HICSX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
2021 | -10.7% | -18.9% | 2.4% | 40.96% |
2020 | 19.7% | 5.8% | 54.0% | 86.08% |
2019 | 13.7% | 9.9% | 24.4% | 87.34% |
2018 | -0.7% | -15.4% | 4.5% | 11.84% |
2017 | 7.9% | 1.8% | 18.4% | 87.84% |
NAV & Total Return History
HICSX - Holdings
Concentration Analysis
HICSX | Category Low | Category High | HICSX % Rank | |
---|---|---|---|---|
Net Assets | 177 M | 25.6 M | 4.09 B | 79.07% |
Number of Holdings | 161 | 10 | 381 | 14.61% |
Net Assets in Top 10 | 24.6 M | -991 K | 795 M | 87.64% |
Weighting of Top 10 | 13.66% | 9.5% | 100.0% | 95.51% |
Top 10 Holdings
- Palo Alto Networks Inc 0.75% 1.90%
- DexCom Inc 0.25% 1.72%
- Splunk Inc 1.12% 1.71%
- Microchip Technology Incorporated 1.62% 1.67%
- Bilibili Inc 1.25% 1.63%
- ON Semiconductor Corp. 1.62% 1.62%
- Zillow Group Inc 2.75% 1.61%
- Etsy Inc 0.12% 1.57%
- Jazz Investments I LTD 1.5% 1.54%
- DISH Network Corporation 3.375% 1.54%
Asset Allocation
Weighting | Return Low | Return High | HICSX % Rank | |
---|---|---|---|---|
Convertible Bonds | 99.72% | 37.15% | 110.54% | 3.37% |
Cash | 0.28% | -81.48% | 7.92% | 74.16% |
Stocks | 0.00% | 0.00% | 27.26% | 95.51% |
Preferred Stocks | 0.00% | 0.00% | 22.93% | 94.38% |
Other | 0.00% | -17.11% | 1.13% | 48.31% |
Bonds | 0.00% | -18.46% | 76.04% | 56.18% |
HICSX - Expenses
Operational Fees
HICSX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Expense Ratio | 1.12% | 0.20% | 2.64% | 40.23% |
Management Fee | 0.65% | 0.20% | 1.37% | 45.88% |
12b-1 Fee | 0.25% | 0.00% | 1.00% | 37.25% |
Administrative Fee | N/A | 0.04% | 0.15% | N/A |
Sales Fees
HICSX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Front Load | N/A | 0.00% | 5.75% | N/A |
Deferred Load | N/A | 1.00% | 5.00% | N/A |
Trading Fees
HICSX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Max Redemption Fee | N/A | 2.00% | 2.00% | 62.50% |
Related Fees
Turnover provides investors a proxy for the trading fees incurred by mutual fund managers who frequently adjust position allocations. Higher turnover means higher trading fees.
HICSX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Turnover | 50.00% | 30.00% | 154.00% | 34.21% |
HICSX - Distributions
Dividend Yield Analysis
HICSX | Category Low | Category High | HICSX % Rank | |
---|---|---|---|---|
Dividend Yield | 0.00% | 0.00% | 9.40% | 87.64% |
Dividend Distribution Analysis
HICSX | Category Low | Category High | Category Mod | |
---|---|---|---|---|
Dividend Distribution Frequency | Quarterly | Annually | Monthly | Quarterly |
Net Income Ratio Analysis
HICSX | Category Low | Category High | HICSX % Rank | |
---|---|---|---|---|
Net Income Ratio | -0.29% | -3.72% | 3.73% | 77.65% |
Capital Gain Distribution Analysis
HICSX | Category Low | Category High | Capital Mode | |
---|---|---|---|---|
Capital Gain Distribution Frequency | Annually | Annually | Annually | Annually |
Dividend Payout History
Date | Amount | Type |
---|---|---|
Sep 29, 2020 | $0.001 | OrdinaryDividend |
Jun 29, 2020 | $0.005 | OrdinaryDividend |
Mar 30, 2020 | $0.007 | OrdinaryDividend |
Sep 26, 2019 | $0.009 | OrdinaryDividend |
Mar 28, 2019 | $0.014 | OrdinaryDividend |
Jun 28, 2018 | $0.011 | OrdinaryDividend |
Mar 28, 2018 | $0.012 | OrdinaryDividend |
Sep 28, 2017 | $0.029 | OrdinaryDividend |
Jun 29, 2017 | $0.021 | OrdinaryDividend |
Mar 30, 2017 | $0.029 | OrdinaryDividend |
Dec 19, 2016 | $0.055 | OrdinaryDividend |
Sep 29, 2016 | $0.012 | OrdinaryDividend |
Jun 29, 2016 | $0.020 | OrdinaryDividend |
Mar 30, 2016 | $0.016 | OrdinaryDividend |
Sep 24, 2015 | $0.022 | OrdinaryDividend |
Jun 29, 2015 | $0.024 | OrdinaryDividend |
Mar 30, 2015 | $0.026 | OrdinaryDividend |
Sep 25, 2014 | $0.027 | OrdinaryDividend |
Jun 26, 2014 | $0.021 | OrdinaryDividend |
Mar 27, 2014 | $0.028 | OrdinaryDividend |
Sep 26, 2013 | $0.033 | OrdinaryDividend |
Jun 27, 2013 | $0.020 | OrdinaryDividend |
Mar 28, 2013 | $0.029 | OrdinaryDividend |
Dec 17, 2012 | $0.106 | OrdinaryDividend |
Sep 27, 2012 | $0.038 | OrdinaryDividend |
Jun 28, 2012 | $0.046 | OrdinaryDividend |
Mar 29, 2012 | $0.045 | OrdinaryDividend |
Dec 16, 2011 | $0.082 | OrdinaryDividend |
Sep 29, 2011 | $0.031 | OrdinaryDividend |
Jun 29, 2011 | $0.017 | OrdinaryDividend |
HICSX - Fund Manager Analysis
Managers
Mark Shenkman
Start Date
Tenure
Tenure Rank
May 02, 2011
11.09
11.1%
Mark R. Shenkman founded Shenkman Capital Management, Inc. in 1985. With 46 years of investment experience, and 38 years of high yield investment experience, he is considered one of the pioneers of the high yield bond and loan markets. Prior to founding Shenkman in 1985, Mr. Shenkman was President and Chief Investment Officer of First Investors Asset Management in New York. He also was Co-Manager and Vice President of the High Yield Bond Department at Lehman Brothers Kuhn Loeb in New York, where he established one of Wall Street’s earliest departments dedicated to the research, selling and trading of high yield securities. Mr. Shenkman was a research analyst and an equity portfolio manager at Fidelity Management and Research Company in Boston. From 1977 to 1979, he managed the first high yield bond mutual funds at Fidelity. Additionally, Mr. Shenkman is Chairman of the Board of Directors of the UCONN Foundation. He is a member of the Board of Trustees at The George Washington University; Vice Chairman of the Board at Wilbraham & Monson Academy since 1969; and he currently serves on the College of William and Mary, Mason School of Business Board of Advisors. He is also on the Board of Directors of the Hillel Foundation in Washington D.C. Mr. Shenkman received a BA in Political Science from the University of Connecticut (1965) and an MBA from The George Washington University (1967). Mr. Shenkman also received a Doctor of Humane Letters, honoris causa, from the University of Connecticut (2007).
Jordan Barrow
Start Date
Tenure
Tenure Rank
Mar 01, 2016
6.25
6.3%
Jordan Barrow joined Shenkman Capital in 2004. He has over 16 years of leveraged finance investing experience and has been a portfolio manager since 2011. Mr. Barrow has experience managing portfolios for the firm’s High Yield, Short Duration, and Convertible strategies. He started his career as a high yield research analyst specializing in Healthcare and has also covered Retail, Technology and Service Industries. In 2010, Mr. Barrow was instrumental in launching the firm’s Short Duration High Yield Strategy. He was also key in the launches of the Global Convertible and Investment Grade Convertible Strategies, in 2015 and 2014, respectively. Mr. Barrow is a member of Shenkman Capital’s Risk Committee and currently serves on the board of the Friends of Mount Sinai Health System. Mr. Barrow received a BA degree in Economics and International Relations from the University of Pennsylvania. In addition, he is a CFA charterholder (2007).
Justin Slatky
Start Date
Tenure
Tenure Rank
Mar 01, 2017
5.25
5.3%
Justin W. Slatky joined Shenkman Capital in 2011. He has 21 years of investing experience in high yield and distressed securities. Prior to joining Shenkman Capital, Mr. Slatky was Co-Head and Managing Director of the Distressed Bond business in New York and London for Goldman Sachs. He was also a member of the Credit Investment Committee charged with reviewing proprietary investments within the Credit Department. Before joining the distressed bond business in 2002, Mr. Slatky was a telecom high yield analyst and a recipient of Institutional Investor’s Runner-Up award. He joined Goldman Sachs from Credit Suisse First Boston in 1999, where he worked as a high yield analyst as part of an II ranked telecom team. Mr. Slatky graduated magna cum laude with a BS in Economics (1998) and an MBA (1999) from The Wharton School at the University of Pennsylvania.
Thomas Whitley
Start Date
Tenure
Tenure Rank
Mar 01, 2019
3.25
3.3%
Tom Whitley joined Shenkman Capital in 2008. He has over 13 years of research experience covering various industries, including the healthcare sector. He has been a member of the convertible team since 2012. Mr. Whitley previously worked as an Equity Research Assistant at Chapdelaine Institutional Equities and as an Associate at Moody's Investors Service. Mr. Whitley received a BS in Business Administration from Villanova University. He is a CFA charterholder (2011).
Tenure Analysis
Category Low | Category High | Category Average | Category Mode |
---|---|---|---|
0.25 | 36.97 | 10.09 | 7.42 |