Harbor Capital Appreciation Fund’s Q3 2025 investor letter focuses on US equities, delivering a 5.11% return. Microsoft Corporation (NASDAQ:MSFT) is highlighted as a top holding with a 0.52% one-month return and $488.02 close on Dec. 24, 2025. The fund underperformed due to concerns about its relationship with Open AI. Truist raises Microsoft’s price target to $675 and reiterates a Buy rating. 312 hedge fund portfolios held Microsoft at the end of Q3, with Q1 FY 2026 revenue at $77.7 billion. While Microsoft shows potential, other AI stocks may offer more upside potential.

Read more at Yahoo Finance: Microsoft (MSFT) Fell Due to Concerns About Its Relationship With OpenAI