What smart money is saying about Harbor Diversified
2 funds in our archive have pitched Harbor Diversified, most recently Cedar Creek Partners in September 2026.
Harbor Diversified, Inc. provides regional air services in the United States. The company leases flight equipment; and provides flight equipment financing. As of December 31, 2023, it owned and operated a fleet of 63 regional jets. Harbor Diversified, Inc. is headquartered in Appleton, Wisconsin.
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Position history
Between Q1 2026 and Q3 2026, 2 fund letters reported a position in Harbor Diversified, with 1 buy (opened or added).
| Quarter | Letters | Bought | Sold | Theses |
|---|---|---|---|---|
| Q3 2026 | 1 | 0 | 0 | 1 |
| Q2 2026 | 1 | 1 | 0 | 0 |
| Q1 2026 | 0 | 0 | 0 | 1 |
Bought and Sold count moves: the same sentence published by several funds of one house in a quarter counts once.
Fund activity · 2 positions · 1 move
- September 2026
“And we anticipate news on Harbor Diversified (HRBR) by year end, who we estimate has far more cash than the current market valuation after selling all their assets.”
Harbor Diversified - AddedCedar Creek PartnersJune 2026
“Expert Market Stocks in the Fund We discussed Exco Resources in our last two letters. Fairfax owns over 49% of the company. It is primarily an onshore domestic natural gas producer. At $22 per share, it currently trades at less than four times our 2026 earnings estimate, excluding mark-to-market charges related to hedging activities. If it was listed, we think it would trade near its year end PV-10 per share, or roughly $55 per share. If it was put up for sale, we think it could fetch around $80 per share. They are aggressively developing their reserves. Capital expenditures are expected to be over $400 million in 2026, which is significant in relation to its $1 billion market cap. We began accumulating shares of Harbor Diversified after its December 18, 2025, announcement that the company was selling its Air Wisconsin subsidiary and all related aircraft in three separate deals for aggregate consideration of $113 million.”
Harbor Diversified
Fund coverage · 2 theses
- Cedar Creek PartnersSeptember 2026
Harbor Diversified is being valued as a cash-rich special situation after selling Air Wisconsin, with expected cash per share well above the trading price and potential catalysts from filings, acquisitions, or a tender/split.
Read the full thesis - Cedar Creek PartnersMarch 2026
Harbor Diversified is a cash-rich holding after selling Air Wisconsin, trading well below estimated net cash with catalysts from strategic alternatives.
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