Harbor Investment Advisory, Llc
SEC-registered
Broker-Dealer (Dually Registered) · Mid-sized ($1B–$10B)
CRD 151085
· SEC file 801-70893
· Lutherville, MD
· WWW.LINKEDIN.COM
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ADV data as of Mar 27, 2026
- Regulatory AUM
- $6.9B
- Discretionary
- $3.7B
- Clients
- 3,540
- Avg AUM / client
- $1.9M
- Accounts
- 3,540
- Employees
- 35
AUM over time
$137M
$6.9B
Dec 2011
Dec 2025
Annual snapshots from Form ADV filings · as of Mar 27, 2026
Investments (13F portfolio — 1,310 positions, $1,433,863,945)
13F period Jun 30, 2026| # | Issuer | Class | Value | Shares | % of 13F | % of AUM |
|---|---|---|---|---|---|---|
| 1 | Marriott Intl Inc New Cl A | Stock | $197,168,433 | 532,039 | 13.8% | 2.87% |
| 2 | Apple Inc Com | Stock | $92,179,859 | 318,565 | 6.43% | 1.34% |
| 3 | Alphabet Inc Cap Stk Cl A | Stock | $60,750,442 | 169,993 | 4.24% | 0.88% |
| 4 | Amazon Com Inc Com | Stock | $54,690,833 | 229,466 | 3.81% | 0.8% |
| 5 | Microsoft Corp Com | Stock | $34,960,931 | 93,724 | 2.44% | 0.51% |
| 6 | Berkshire Hathaway Inc Del Cl B New | Stock | $32,044,738 | 64,040 | 2.23% | 0.47% |
| 7 | Alphabet Inc Cap Stk Cl C | Stock | $22,648,100 | 64,099 | 1.58% | 0.33% |
| 8 | Jpmorgan Chase & Co Com | Stock | $18,897,620 | 57,733 | 1.32% | 0.28% |
| 9 | Ishares Core S&P 500 Etf | ETF | $18,582,233 | 24,813 | 1.3% | 0.27% |
| 10 | Vanguard Total Stock Market Etf | ETF | $17,559,009 | 47,452 | 1.22% | 0.26% |
| 11 | Vanguard Growth Etf | ETF | $17,441,237 | 202,475 | 1.22% | 0.25% |
| 12 | Vanguard Value Etf | ETF | $16,244,495 | 74,540 | 1.13% | 0.24% |
| 13 | Nvidia Corporation Com | Stock | $16,147,034 | 80,699 | 1.13% | 0.24% |
| 14 | Invesco S&P 500 Equal Weight Etf | ETF | $15,541,916 | 73,046 | 1.08% | 0.23% |
| 15 | Vanguard S&P 500 Etf | ETF | $15,086,496 | 21,966 | 1.05% | 0.22% |
| 16 | Spdr Gold Minishares Trust Of Beneficial Interest | ETF | $14,143,908 | 178,090 | 0.99% | 0.21% |
| 17 | Visa Inc Com Cl A | Stock | $13,776,485 | 40,154 | 0.96% | 0.2% |
| 18 | Mastercard Incorporated Cl A | Stock | $13,403,273 | 26,097 | 0.93% | 0.2% |
| 19 | Ishares Russell 2000 Value Etf | ETF | $13,298,303 | 60,119 | 0.93% | 0.19% |
| 20 | Eli Lilly & Co Com | Stock | $12,182,028 | 10,157 | 0.85% | 0.18% |
| 21 | State Street Spdr S&P 500 Etf | ETF | $11,510,713 | 15,414 | 0.8% | 0.17% |
| 22 | Johnson & Johnson Com | Stock | $10,607,126 | 41,765 | 0.74% | 0.15% |
| 23 | Spdr Gold Shares | ETF | $10,276,328 | 27,896 | 0.72% | 0.15% |
| 24 | Vanguard Mid Cap Value Etf | ETF | $10,131,777 | 51,274 | 0.71% | 0.15% |
| 25 | Broadcom Inc Com | Stock | $9,994,887 | 26,459 | 0.7% | 0.15% |
Top 25 of 1,310 positions from the manager's latest Form 13F · source filing (EDGAR) ↗. 13F covers long US-listed positions only. "% of AUM" is share of the firm's total regulatory AUM (Form ADV Item 5.F).
Who they serve
| Client type | Clients | AUM | % of AUM |
|---|---|---|---|
| Individuals (non-high net worth) | 1,321 | $224M | 3.26% |
| High net worth individuals | 2,036 | $2.7B | 38.8% |
| Pension and profit sharing plans | 75 | $1.0B | 14.6% |
| Charitable organizations | 80 | $2.8B | 40.3% |
| Corporations and other businesses | 28 | $209M | 3.04% |
Retirement plan clients
Plans that reported this firm as an investment service provider on Form 5500 Schedule C.
People (32)
roster as of Jul 20, 2026| Name | Role / title | Credentials | With firm since | Ownership |
|---|---|---|---|---|
| Robert Wilmer Black | Member | Jun 2009 (17y) | ≈ 18.75% – 50% via Harbor Investment Management, Llc | |
| Fred Cregan Hill | President | Jul 2014 (12y) | 25% – 50% of Harbor Investment Management,Llc (indirect) | |
| Dean, Raymond Patrick | Treasurer And Secretary | Dec 2019 (7y) | Less than 5% | |
| William Christopher Schadty | Chief Compliance Officer | Feb 2020 (7y) | Less than 5% | |
| Stephen John Kelly | Registered representative | Jan 2010 (17y) | ||
| Champe Seabury Andrews | Registered representative | Jan 2011 (16y) | ||
| Gregory Edward Paranzino | Registered representative | CFP | Jan 2011 (16y) | |
| Lisa Michell Howard | Registered representative | Jan 2011 (16y) | ||
| R. Matthew Williams Novak | Registered representative | CFP | Feb 2011 (15y) | |
| Geoffrey Philipp Burroughs | Registered representative | CFP | Mar 2013 (13y) | |
| Andrew William Sullivan | Registered representative | Jan 2014 (13y) | ||
| James W Curran | Registered representative | CFP | Mar 2015 (11y) | |
| Fremont James Knittle | Registered representative | Mar 2015 (11y) | ||
| Charles Russell Ward | Registered representative | CFP | Sep 2015 (11y) | |
| John Thomas Halleron | Registered representative | CFP | Sep 2015 (11y) | |
| Robert Earle Laubach | Registered representative | Chartered Financial Consultant | Feb 2017 (9y) | |
| Arthur Patrick Boykin | Registered representative | Jul 2017 (9y) | ||
| Janet C Marquardt | Registered representative | Jul 2017 (9y) | ||
| Jennifer Lowe Winslow | Registered representative | CFP | Jul 2017 (9y) | |
| Paul Michael Fox | Registered representative | CFP | Jul 2017 (9y) | |
| Elias D. Poe | Registered representative | Sep 2017 (9y) | ||
| Scott Gaither Hahn | Registered representative | CFP | Oct 2018 (8y) | |
| Edward Hicks Worthington | Registered representative | Aug 2021 (5y) | ||
| Jessie Lake Willinghan | Registered representative | Sep 2021 (5y) | ||
| Katrina Marya Kunkler | Registered representative | Apr 2022 (4y) | ||
| Daniel Lawrence Baker | Registered representative | Nov 2023 (3y) | ||
| Peter M Marchineck | Registered representative | Jun 2024 (2y) | ||
| Emily Reynolds Allison | Registered representative | Oct 2024 (2y) | ||
| Ellen Marie Pierce | Registered representative | Jul 2025 (1y) | ||
| Jonathan Michael Osmun | Registered representative | Feb 2026 (0y) | ||
| Sean M Sundell | Registered representative | Mar 2026 (0y) | ||
| Douglas M. Holthaus | Registered representative | Jun 2026 (0y) |
Entity owners (Schedule A/B)
| Entity | Title / status | Since | Sch. | Ownership |
|---|---|---|---|---|
| Harbor Investment Management, Llc | Sole Member | Jun 2009 | A | 75% or more |
Undisclosed: 0% – 25% of the firm is not attributable from the filed Schedule A bands.
Estimated effective ownership (look-through of filed bands):
- Robert Wilmer Black: 25% – 50% of Harbor Investment Management, Llc × 75% – 100% direct ≈ 18.75% – 50% of the firm
Roster from the IAPD representatives feed; ownership and acquisition dates from Form ADV Schedule A/B. "Since" is the earliest filed registration or acquisition date.
Retirement plans served (15)
| Plan | Sponsor | Participants | Plan assets | As of |
|---|---|---|---|---|
| Blue Ridge Beverage Company, Inc. Profit Sharing Plan | Blue Ridge Beverage Company, Inc. | 487 | $31.1M | 09/01/2024 |
| Aga Institute Retirement Plan | American Gastroenterological Association | 99 | $34.6M | 01/01/2024 |
| Fundamental Retirement Savings Plan | Hunt Valley Holdings Llc | 8,516 | $122M | 01/01/2024 |
| Hui Huliau 401(k) Profit Sharing Plan & Trust | Hui Huliau | 170 | $7.8M | 01/01/2024 |
| Avi Spl 401(k) Plan | Avi Spl Llc | 3,293 | $249M | 01/01/2024 |
| Cybercore Technologies, Llc 401(k) Retirement Plan | Cybercore Technologies, Llc | 140 | $23.2M | 01/01/2024 |
| Usa Lacrosse 403(b) Retirement Plan | Us Lacrosse, Inc. | 87 | $6.4M | 01/01/2024 |
| Mariner Savings Plan | Mariner Health Care | 4,318 | $75.2M | 01/01/2024 |
| Diamond Employee Savings And 401(k) Plan Profit Sharing Plan And Trust | Diamond Comic Distributors, Inc. | 601 | $37.9M | 01/01/2024 |
| Mga Home Healthcare 401(k) Plan | Mhh Holdings Iii, Llc | 3,852 | $20.8M | 01/01/2024 |
| Human Resources, Inc. Retirement Savings Plan | Human Resources, Inc. | 1,102 | $99.4M | 01/01/2024 |
| Mclean Contracting Company 401(k) Retirement Plan | Mclean Contracting Company | 397 | $17.8M | 01/01/2024 |
| Brinton Woods 401(k) Profit Sharing Plan | Brinton Woods Health Care Center, Llc | 66 | $1.6M | 01/01/2024 |
| Complete Holdings Group Inc., 401(k) Plan | Complete Holdings Group, Inc. | 819 | $16.0M | 01/01/2024 |
| Brinton Woods 401(k) Profit Sharing Plan | Brinton Woods Management Company | 71 | $1.8M | 01/01/2020 |
From Form 5500 service-provider disclosures.
Documents (1 archived)
| Form | Period | Size | |
|---|---|---|---|
| Form ADV (full filing) | 03/27/2026 | 988 KB | View · PDF · Source ↗ |
Archived copies of the firm's regulatory filings, versioned by content hash.
Disciplinary disclosures
No disciplinary events reported on the firm's latest Form ADV filing.
How they charge
- • Percentage of assets under management
- • Hourly charges
- • Fixed fees
Services
- • Financial planning services
- • Portfolio management for individuals/small businesses
- • Portfolio management for businesses/institutional clients
- • Pension consulting services
- • Selection of other advisers
Custody
Reported custodians
- Pershing $3.7B (54% of AUM) Mar 2026
Amounts as reported in ADV Item 5.K.(3) (custodians holding 10%+ of SMA assets).
Firm reports having custody of client funds or securities (Item 9.A).
Source
All data on this page comes from this firm's Form ADV filings, reproduced without modification. Latest filing: Mar 27, 2026.
View current Form ADV (SEC/IAPD) ↗