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Harbor Capital Appreciation Fund's investment thesis on Merck ($MRK) — Q4 2025 | Buyside Digest

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$MRKNYSEMerck

BULL

Harbor Capital Appreciation Fund—MRK

Fund Letter

Q4 2025

Published January 13, 2026

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$128.31USD

-14.6% vs last month

$108.83Pitched

+17.9% since pitch

Market CapN/A

P/E (TTM)N/A

52-Wk RangeN/A

Div. YieldN/A

Technical Chart

From the Fund Letter

In Q4 2025, the Harbor Capital Appreciation Fund returned 0.81%, underperforming its benchmark, the Russell 1000 Growth Index, which returned 1.12%. Security selection in...

— Kathleen A. McCarragher, Blair A. Boyer, Natasha Kuhlkin

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