Harbor International Fund underperforms in Q4 2025. The fund delivered a 2.21% return during the fourth quarter, falling short of its benchmark performance due to challenges in stock selection strategy. This underperformance highlights the difficulties international equity managers face when navigating diverse global markets and currency fluctuations. Investors holding HAINX should review their portfolio allocation and consider whether the fund's recent performance aligns with their investment objectives. The gap between fund returns and benchmark results suggests that the fund's stock-picking approach did not capitalize on market opportunities as effectively as the broader international index. Market conditions in Q4 presented both challenges and opportunities for international investors, and the fund's selection decisions appear to have missed key drivers of outperformance.