The Harbor Convertible Securities Fund Insti Class (HACSX) is a mutual fund that primarily invests in convertible securities, which are bonds or preferred stocks that can be converted into common stocks. This fund is designed for institutional investors and aims to provide a balance of income and potential for capital appreciation. It may also invest in non-convertible securities, such as high-yield bonds, to diversify its portfolio. With a focus on convertible securities, this fund offers investors the potential for higher returns while also providing some downside protection.