Amkor Technology (AMKR) Trimmed by Harbor Mid Cap Value Fund on Valuation Concerns

Fund Performance - Harbor Mid Cap Value Fund outperformed the Russell Midcap Value Index in Q4 2025, returning 4.07% compared to the index's 1.42% [1] - For the full year 2025, the Fund gained 15.95%, exceeding the benchmark's return of 11.05% [1] - The S&P 500 Index rose 2.7% in Q4 and 17.9% for the full year, while the Russell Midcap Index only increased by 0.2% in Q4 [1] Investment Strategy - The Fund's excess return of 2.82% in Q4 was primarily driven by selection effects, highlighting a quantitative value discipline focused on fundamental undervaluation, improving momentum, and risk control [1] - Management noted that mid- and small-cap value stocks are trading at more attractive multiples compared to AI-driven large-cap stocks, positioning the Fund to capitalize on opportunities in economically sensitive and cash-generative businesses [1] Company Focus: Amkor Technology, Inc. - Amkor Technology, Inc. is a semiconductor packaging and test services provider, with a one-month return of 0.39% and a market capitalization of approximately $11.999 billion [2] - The stock price of Amkor traded between $14.03 and $57.09 over the last 52 weeks, closing at about $48.52 on February 26, 2026 [2] - The Fund trimmed its position in Amkor due to concerns over valuation despite strong stock price momentum, as earnings and cash flow have not kept pace with the stock price increase [3]