Harbor Mid Cap Value Fund Reduces Stake in State Street (STT) After Strong Performance
In its Q2 2026 investor letter, Harbor Mid Cap Value Fund disclosed that it trimmed its position in State Street Corporation (NYSE: STT), a major U.S. financial services provider, following strong stock performance and positive earnings results. The fund cited increased fee-based revenues, expanding assets under management, and share repurchases as key drivers behind the appreciation of STT's shares. Despite trimming exposure to STT, it remained one of the top contributors to the fund’s second-quarter returns. The broader market saw a strong rally in Q2 2026 with the S&P 500 rising by 15.2%, while small-cap stocks outperformed large caps and growth sectors led within larger indices. The Harbor Mid Cap Value Fund returned 13.99% for the quarter, beating its benchmark due to strong stock selection in Consumer Discretionary, Real Estate, and Financials. Citi also raised its price target on STT citing robust business fundamentals.
Tickers: $STT
Topics: Harbor Mid Cap Value Fund Q2 2026 investor letter State Street (STT) stock trimming