Harbor Capital Dumps 75% of its StoneX (SNEX) Holdings

Harbor Capital Advisors disclosed the sale of 270,715 StoneX Group (NASDAQ:SNEX) shares, worth approximately $25.85 million.

What happened

According to a Securities and Exchange Commission (SEC) filing dated October 15, 2025, Harbor Capital Advisors sold 270,715 shares of StoneX Group in the third quarter. The estimated sale value was $25.85 million, based on the average closing price for the quarter. After the sale, the fund holds 93,877 shares of StoneX Group, worth $9.47 million at quarter-end.

What else to know

The fund reduced its StoneX Group position, which now accounts for 0.74% of its 13F reportable assets under management (AUM). At the end of Q2 2025, that figure was 1.4%, making StoneX the firm's second biggest holding.

Here are Harbor Capital Advisors's top holdings after the filing, as of September 30, 2025:

• iShares Core S&P 500 ETF (NYSEMKT:IVV): $49.15 million (3.82% of AUM)
• iShares Msci Emerging Markets ETF (NYSEMKT:EEM): $38.43 million (2.99% of AUM)
• iShares Msci Eafe ETF (NYSEMKT:EFA): $28.28 million (2.20% of AUM)
• Nvidia (NASDAQ:NVDA): $27.22 million (2.12% of AUM)
• Alphabet (NASDAQ:GOOGL): $26.54 million (2.06% of AUM)

As of October 14, 2025, StoneX Group shares were priced at $98.33, up over 70% year-on-year. The stock outperformed the S&P 500 by 53.60 percentage points during the same period.

Company Overview

Data as of market close 14 October, 2025.

Company Snapshot

StoneX Group is a global financial services network with a broad product suite and integrated platform. It provides comprehensive market access, execution, and risk management solutions across various asset classes.

StoneX leverages its scale and expertise to connect clients to global markets and liquidity. The company's diversified business model and established presence in capital markets underpin its competitive positioning and growth strategy.

• StoneX offers risk management, hedging, trading, execution, clearing, market intelligence, physical commodity trading, and global payments services across commercial, institutional, and retail segments.
• It generates revenue primarily through transaction-based fees, trading spreads, asset management, clearing services, and commodity logistics.
• StoneX serves a diversified global client base including corporations, institutional investors, asset managers, commercial banks, broker-dealers, insurance companies, retail traders, and government organizations.

Foolish take

Harbor Capital sold almost 75% of its SNEX holdings, which is a significant amount. It first opened a position with around 30,000 shares in Q1 2024 and bought more over the following two quarters. By the end of Q3 2024, it owned over 300,000 shares -- a holding it has now pared down significantly.

The value of StoneX stock has doubled since Harbor Capital first bought it. The company has delivered solid growth and been buoyed by several aquisitions. Most recently, it acquired R.J. O’Brien, a well-established U.S. futures brokerage, giving StoneX a in a leading position in the global derivatives market.

It isn't surprising to see investment managers rebalance their portfolios or take profits after a significant price rally. However, such a big trade could also signal a change in sentiment or a change in priorities. For example, StoneX missed analyst EPS estimates in its Q3 earnings report, which slowed the stock's momentum and could have triggered investor caution.

Glossary

AUM (Assets Under Management): The total market value of assets a fund or investment manager oversees on behalf of clients.
13F reportable assets: Securities that institutional investment managers must disclose in quarterly SEC filings if they exceed certain thresholds.
Quarterly average price: The average closing price of a security over a specific quarter, used to estimate transaction values.
Top holdings: The largest investments in a fund's portfolio, typically by market value or percentage of AUM.
Outperforming: Achieving a higher return or performance compared to a benchmark or index over a given period.
Stake: The ownership interest or number of shares held in a company by an investor or fund.
Clearing services: Processes that ensure the accurate and timely transfer of funds and securities between buyers and sellers after a trade.
Trading spreads: The difference between the buying (bid) and selling (ask) prices of a security, often a source of revenue for financial firms.
Physical commodity trading: Buying and selling tangible goods like metals, energy, or agricultural products rather than financial contracts.
Liquidity: The ease with which an asset can be bought or sold in the market without affecting its price.
TTM: The 12-month period ending with the most recent quarterly report.

Emma Newbery has positions in Nvidia. The Motley Fool has positions in and recommends Alphabet and Nvidia. The Motley Fool has a disclosure policy.