Harbor Human Capital Factor US Small Cap ETF (HAPS)

Linking strong corporate culture and potential equity value in the small cap arena.

Harbor Human Capital Factor US Small Cap ETF (HAPS)

Linking strong corporate culture and potential equity value in the small cap arena.

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Why Invest Section?

1. HAPS offers access to an equally-weighted portfolio of companies that produce the highest Human Capital Factor® (HCF®) scores. HAPS, featuring the HCF®, is off and running for investors that are ready for a fresh approach to getting differentiated exposure to the market.

2. HAPS is a cost-efficient way to gain access to a diversified and a distinct strategy focused on human capital.

3. HAPS represents an objective and systematic way to invest in small cap companies that best manage human capital based on proprietary methodology used by the index that HAPS tracks.

Overview: Objective & Investment Approach

Investment Objective: The Fund seeks to provide investment results that correspond, before fees and expenses, to the performance of the Human Capital Factor Small Cap Index (the "Index").

Investment Approach: HAPS's distinct composition of companies aim to recognize the power of their people, selected by a distinctive team of well-known researchers using an objective and systematic way - the HCF ® - to identify and invest in small cap companies that best manage human capital based on a proprietary methodology. Sector neutral and market-cap weighted to the Solactive United States 2000 Index.

A Potential Opportunity to Capitalize on a Market Inefficiency via an Underutilized Source of Alpha.

  • Harbor Capital has partnered with Irrational Capital to develop a data-driven strategy built on the Human Capital Factor.
  • What is the Human Capital Factor? The HCF seeks to identify and score companies on their management of human capital based on a proprietary methodology, selecting them for inclusion in the index in an objective and systematic way.
  • HAPS offers exposure to smaller capitalization companies with strong Human Capital Factor scores while constraining sectors to in an effort enhance overall diversification.

Investment Solutions Built on the Human Capital Factor®

The Human Capital Factor® (HCF®) seeks to quantify levels of motivation and engagement of a company's workforce in an effort to capture the powerful connection between human capital and stock performance. HCF® scores are applied in the construction of the following products:

Currently Viewing
|Small Cap ETF|
Tracks the Human Capital Factor Small Cap Index

Index designed to deliver exposure to equity securities of small cap U.S. companies

Fund includes approximately 200 stocks as determined by the HCF® within HAPS universe

Market Cap-Weighted Positions

Sector Neutral to Index
|Unconstrained ETF|
Tracks the Human Capital Factor Unconstrained Index

Index designed to deliver exposure to equity securities of large cap U.S. companies

Fund includes top 70-100 stocks as determined by the HCF®

Equal-Weighted

No Sector Limits
|Large Cap ETF|
Tracks the CIBC Human Capital Index

Index designed to deliver exposure to equity securities of 500 largest U.S. companies

Fund includes approximately 150 stocks as determined by the HCF® within HAPI universe

Market Cap-Weighted Positions

Sector Neutral to Index

Related Funds to Consider

Overview

Investment Team
Harbor Capital Advisors, Inc. dark blue logo on white background

Current Price

As of 1/5/2024

$26.96

Price (NAV)

-$0.05

NAV Daily Change ($)

-0.19%

NAV Daily Change (%)

-4.33%

NAV YTD Return

$26.97

Market Price

-$0.05

Market Daily Change ($)

-0.19%

Market Daily Change (%)

-4.33%

Market YTD Return

Fund Facts

As of 1/5/2024

4/12/2023

Inception Date

0.60

Expense Ratio (%)
disclaimer

$122.669

Total Net Assets (million)

4,550,000

Shares Outstanding
(As of 1/8/2024)

HAPS

Ticker

41151J851

Cusip

NYSE

Exchange

US41151J8514

ISIN

Foreside Fund Services, LLC

Distributor
disclaimer

Annually

Dividend Frequency

Small Cap Blend

Morningstar Category

CIBC Human Capital Factor Small Cap Index

Benchmark

348,506

Implied Liquidity™ (Shares)
disclaimer

$9,414,841.15

Implied Liquidity
disclaimer

Investment Objective:

The Fund seeks to provide investment results that correspond, before fees and expenses, to the performance of the Human Capital Factor Small Cap Index (the “Index”).

Pricing/Trading

As of 1/5/2024

$26.97

Bid/Ask Mid Price

$26.97

Closing Market Price

$0.01

Premium/Discount ($)

0.04%

Premium/Discount (%)

 

2023

Q1 2024

YTD

Days Traded at a Premium8733
Days Traded at a Discount9411

0.34%

30-Day Median Bid/Ask Spread

6

Exchange Volume (Shares)

USD

Trading Currency

Historical Premium Discount to NAV

No Data Available

Performance

Total Returns

Quarter-End

3 Mo.

Since Fund Inception

Net Expense Ratio

Gross Expense Ratio

Human Capital Factor US Small Cap ETF - at NAV
16.26%
14.57%
0.60%disclaimer
0.60%
Market Price
16.35%
14.61%
--
--
Human Capital Factor Small Cap Index
16.49%
15.08%
--
--
Russell 2000® Index
14.03%
15.63%
--
--

Performance data shown represents past performance and is no guarantee of future results. Short term performance, in particular, is not a good indication of the fund’s future performance, and an investment should not be made based solely on returns. Past performance is net of management fees and expenses and reflects reinvested dividends and distributions. Past performance reflects the beneficial effect of any expense waivers or reimbursements, without which returns would have been lower. Investment returns and principal value will fluctuate and when redeemed may be worth more or less than their original cost. Returns for periods less than one year are not annualized. Current performance may be higher or lower and is available through the most recent month end at harborcapital.com or by calling 800-422-1050.

The Human Capital Factor Small Cap Index is designed to deliver exposure to equity securities of U.S. companies that possess strong human capital, based on proprietary scoring methodology produced by Irrational Capital LLC. This unmanaged index does not reflect fees and expenses and is not available for direct investment.

The Russell 2000® Index measures the performance of the small-cap segment of the US equity universe. It is a subset of the Russell 3000® and includes approximately 2000 of the smallest securities based on a combination of their market cap and current index membership. The Russell 2000® Index and Russell® are trademarks of Frank Russell Company.

Chart

Ex-Date

Record Date

Payable Date

Ordinary Income

Short Term Capital Gains

Long Term Capital Gains

Total Distribution

12/21/2023
12/22/2023
12/27/2023
0.11815
--
--
0.11815

Holdings

Portfolio Characteristics

As of 11/30/2023

2846.4

Wtd Avg Market Cap ($Mil)

2.37

Price/Book Ratio

20.7

Adjusted Trailing P/E Ratio

26.7

% EPS Growth - Past 3 Yr

7.3

Return on Equity (%)

19.8

Forecasted P/E Ratio

Top Ten Holdings

As of 1/8/2024

Company Name [Ticker]

% of Net Assets

AFFIRM HOLDINGS INC[AFRM]
3.1
EVERCORE INC - A[EVR]
2.1
BLUEPRINT MEDICINES CORP[BPMC]
2.1
INSPERITY INC[NSP]
1.9
H.B. FULLER CO.[FUL]
1.9
APPLE HOSPITALITY REIT INC[APLE]
1.9
GLAUKOS CORP[GKOS]
1.8
ASBURY AUTOMOTIVE GROUP[ABG]
1.8
GMS INC[GMS]
1.7
BRIGHTHOUSE FINANCIAL INC[BHF]
1.7
% of Total Holdings:
20.0%

This information should not be considered as a recommendation to purchase or sell a particular security. The weightings, holdings, industry, sector, countries mentioned may change at any time and may not represent current or future investments.

As of 1/8/2024

Company Name [Ticker]

Category Name

Country

Cusip

Shares

Current Price ($)

Market Value ($)

% of Net Assets

AFFIRM HOLDINGS INC [AFRM]
EQUITY
00827B106
89,458
43.01
3,847,588.58
3.1
EVERCORE INC - A [EVR]
EQUITY
29977A105
15,582
166.59
2,595,805.38
2.1
BLUEPRINT MEDICINES CORP [BPMC]
EQUITY
09627Y109
30,812
82.97
2,556,471.64
2.1
INSPERITY INC [NSP]
EQUITY
45778Q107
20,506
115.16
2,361,470.96
1.9
H.B. FULLER CO. [FUL]
EQUITY
359694106
29,893
77.82
2,326,273.26
1.9
APPLE HOSPITALITY REIT INC [APLE]
EQUITY
03784Y200
136,704
16.86
2,304,829.44
1.9
GLAUKOS CORP [GKOS]
EQUITY
377322102
27,462
79.11
2,172,518.82
1.8
ASBURY AUTOMOTIVE GROUP [ABG]
EQUITY
043436104
10,460
205.54
2,149,948.40
1.8
GMS INC [GMS]
EQUITY
36251C103
26,911
78.69
2,117,626.59
1.7
BRIGHTHOUSE FINANCIAL INC [BHF]
EQUITY
10922N103
38,637
52.89
2,043,510.93
1.7
PATTERSON-UTI ENERGY INC [PTEN]
EQUITY
703481101
187,862
10.73
2,015,759.26
1.6
PHYSICIANS REALTY TRUST [DOC]
EQUITY
71943U104
150,910
12.96
1,955,793.60
1.6
EVOLENT HEALTH INC - A [EVH]
EQUITY
30050B101
59,655
32.36
1,930,435.80
1.6
PROGYNY INC [PGNY]
EQUITY
74340E103
51,478
36.30
1,868,651.40
1.5
STRIDE INC [LRN]
EQUITY
86333M108
28,928
57.90
1,674,931.20
1.4
ULTRAGENYX PHARMACEUTICAL IN [RARE]
EQUITY
90400D108
35,024
47.60
1,667,142.40
1.4
WALKER & DUNLOP INC [WD]
EQUITY
93148P102
16,526
99.27
1,640,536.02
1.3
PERMIAN RESOURCES CORP [PR]
EQUITY
71424F105
115,967
13.49
1,564,394.83
1.3
SITE CENTERS CORP [SITC]
EQUITY
82981J109
114,669
13.19
1,512,484.11
1.2
PGT INNOVATIONS INC [PGTI]
EQUITY
69336V101
34,877
41.73
1,455,417.21
1.2
KOSMOS ENERGY LTD [KOS]
EQUITY
500688106
195,589
6.83
1,335,872.87
1.1
TPG INC [TPG]
EQUITY
872657101
33,652
39.69
1,335,647.88
1.1
ARCHROCK INC [AROC]
EQUITY
03957W106
83,462
15.30
1,276,968.60
1.0
PJT PARTNERS INC - A [PJT]
EQUITY
69343T107
13,296
95.72
1,272,693.12
1.0
BIOHAVEN LTD [BHVN]
EQUITY
--
G1110E107
29,674
42.59
1,263,815.66
1.0
PRICESMART INC [PSMT]
EQUITY
741511109
17,245
72.85
1,256,298.25
1.0
LAUREATE EDUCATION INC [LAUR]
EQUITY
518613203
96,208
13.01
1,251,666.08
1.0
SEACOAST BANKING CORP/FL [SBCF]
EQUITY
811707801
46,078
27.04
1,245,949.12
1.0
KB HOME [KBH]
EQUITY
48666K109
19,662
61.33
1,205,870.46
1.0
BRINKER INTERNATIONAL INC [EAT]
EQUITY
109641100
30,171
39.80
1,200,805.80
1.0
DENALI THERAPEUTICS INC [DNLI]
EQUITY
24823R105
60,367
19.34
1,167,497.78
1.0
INVENTRUST PROPERTIES CORP [IVT]
EQUITY
46124J201
45,743
25.16
1,150,893.88
0.9
HURON CONSULTING GROUP INC [HURN]
EQUITY
447462102
11,533
99.42
1,146,610.86
0.9
PTC THERAPEUTICS INC [PTCT]
EQUITY
69366J200
38,497
27.90
1,074,066.30
0.9
STEPSTONE GROUP INC-CLASS A [STEP]
EQUITY
85914M107
34,077
31.50
1,073,425.50
0.9
STEPAN CO [SCL]
EQUITY
858586100
11,101
89.91
998,090.91
0.8
TANDEM DIABETES CARE INC [TNDM]
EQUITY
875372203
35,854
27.80
996,741.20
0.8
INVESCO S&P SMALLCAP INDUSTR [PSCI]
EQUITY
46138E123
8,687
111.06
964,778.22
0.8
BLACK HILLS CORP [BKH]
EQUITY
092113109
17,279
55.21
953,973.59
0.8
ONE GAS INC [OGS]
EQUITY
68235P108
14,885
63.93
951,598.05
0.8
WILEY (JOHN) & SONS-CLASS A [WLY]
EQUITY
968223206
30,528
31.09
949,115.52
0.8
GENTHERM INC [THRM]
EQUITY
37253A103
19,024
49.14
934,839.36
0.8
CITY HOLDING CO [CHCO]
EQUITY
177835105
8,732
106.59
930,743.88
0.8
BEAM THERAPEUTICS INC [BEAM]
EQUITY
07373V105
35,257
26.07
919,149.99
0.7
CIMPRESS PLC [CMPR]
EQUITY
G2143T103
12,686
72.24
916,436.64
0.7
WORKIVA INC [WK]
EQUITY
98139A105
9,772
92.26
901,564.72
0.7
VARONIS SYSTEMS INC [VRNS]
EQUITY
922280102
21,047
42.52
894,918.44
0.7
M/I HOMES INC [MHO]
EQUITY
55305B101
6,851
127.82
875,694.82
0.7
PAYONEER GLOBAL INC [PAYO]
EQUITY
70451X104
176,155
4.96
873,728.80
0.7
WORTHINGTON ENTERPRISES INC [WOR]
EQUITY
981811102
15,687
55.30
867,491.10
0.7
TWIST BIOSCIENCE CORP [TWST]
EQUITY
90184D100
25,433
33.98
864,213.34
0.7
GETTY REALTY CORP [GTY]
EQUITY
374297109
29,740
29.02
863,054.80
0.7
HELEN OF TROY LTD [HELE]
EQUITY
G4388N106
7,167
115.98
831,228.66
0.7
INVESCO S&P SMALLCAP FINANCI [PSCF]
EQUITY
46138E156
17,256
47.805
824,923.08
0.7
SAMSARA INC-CL A [IOT]
EQUITY
79589L106
26,988
30.50
823,134.00
0.7
UPWORK INC [UPWK]
EQUITY
91688F104
57,848
14.05
812,764.40
0.7
ALTAIR ENGINEERING INC - A [ALTR]
EQUITY
021369103
9,979
80.00
798,320.00
0.7
LIVE OAK BANCSHARES INC [LOB]
EQUITY
53803X105
18,650
42.20
787,030.00
0.6
KFORCE INC [KFRC]
EQUITY
493732101
12,042
63.06
759,368.52
0.6
EXP WORLD HOLDINGS INC [EXPI]
EQUITY
30212W100
51,914
14.48
751,714.72
0.6
FRESHWORKS INC-CL A [FRSH]
EQUITY
358054104
34,196
21.91
749,234.36
0.6
PALOMAR HOLDINGS INC [PLMR]
EQUITY
69753M105
12,798
57.88
740,748.24
0.6
ATRICURE INC [ATRC]
EQUITY
04963C209
22,399
33.03
739,838.97
0.6
BOX INC - CLASS A [BOX]
EQUITY
10316T104
29,582
24.67
729,787.94
0.6
TRONOX HOLDINGS PLC [TROX]
EQUITY
G9087Q102
54,794
13.04
714,513.76
0.6
INVESCO S&P SMALLCAP CONSUME [PSCD]
EQUITY
46138E180
7,193
98.627
709,424.73
0.6
CHEGG INC [CHGG]
EQUITY
163092109
64,707
10.78
697,541.46
0.6
ROVER GROUP INC [ROVR]
EQUITY
77936F103
62,612
10.89
681,844.68
0.6
VERITEX HOLDINGS INC [VBTX]
EQUITY
923451108
30,180
22.57
681,162.60
0.6
TALOS ENERGY INC [TALO]
EQUITY
87484T108
48,420
13.71
663,838.20
0.5
STEELCASE INC-CL A [SCS]
EQUITY
858155203
51,036
12.87
656,833.32
0.5
FLYWIRE CORP-VOTING [FLYW]
EQUITY
302492103
28,383
21.85
620,168.55
0.5
LGI HOMES INC [LGIH]
EQUITY
50187T106
4,905
125.43
615,234.15
0.5
SAGE THERAPEUTICS INC [SAGE]
EQUITY
78667J108
28,542
21.47
612,796.74
0.5
APPFOLIO INC - A [APPF]
EQUITY
03783C100
3,709
164.35
609,574.15
0.5
SPARTANNASH CO [SPTN]
EQUITY
847215100
26,118
23.30
608,549.40
0.5
DOXIMITY INC-CLASS A [DOCS]
EQUITY
26622P107
21,457
28.10
602,941.70
0.5
RAPID7 INC [RPD]
EQUITY
753422104
11,577
51.46
595,752.42
0.5
EXTREME NETWORKS INC [EXTR]
EQUITY
30226D106
34,389
17.13
589,083.57
0.5
SONOS INC [SONO]
EQUITY
83570H108
36,225
16.10
583,222.50
0.5
WINNEBAGO INDUSTRIES [WGO]
EQUITY
974637100
8,234
68.04
560,241.36
0.5
ORIGIN BANCORP INC [OBK]
EQUITY
68621T102
16,330
34.25
559,302.50
0.5
EDGEWELL PERSONAL CARE CO [EPC]
EQUITY
28035Q102
15,567
35.59
554,029.53
0.5
GOGO INC [GOGO]
EQUITY
38046C109
57,418
9.35
536,858.30
0.4
HIMS & HERS HEALTH INC [HIMS]
EQUITY
433000106
62,351
8.35
520,630.85
0.4
NABORS INDUSTRIES LTD [NBR]
EQUITY
G6359F137
6,235
81.44
507,778.40
0.4
KYMERA THERAPEUTICS INC [KYMR]
EQUITY
501575104
18,322
27.18
497,991.96
0.4
CALIX INC [CALX]
EQUITY
13100M509
11,510
43.20
497,232.00
0.4
HAWAIIAN ELECTRIC INDS [HE]
EQUITY
419870100
32,783
14.87
487,483.21
0.4
SJW GROUP [SJW]
EQUITY
784305104
7,666
63.50
486,791.00
0.4
BRISTOW GROUP INC [VTOL]
EQUITY
11040G103
17,447
27.62
481,886.14
0.4
PROGRESS SOFTWARE CORP [PRGS]
EQUITY
743312100
9,133
52.07
475,555.31
0.4
BRAZE INC-A [BRZE]
EQUITY
10576N102
9,993
47.49
474,567.57
0.4
SPROUT SOCIAL INC - CLASS A [SPT]
EQUITY
85209W109
8,467
55.75
472,035.25
0.4
REVANCE THERAPEUTICS INC [RVNC]
EQUITY
761330109
55,422
8.35
462,773.70
0.4
VIASAT INC [VSAT]
EQUITY
92552V100
17,746
25.83
458,379.18
0.4
CRA INTERNATIONAL INC [CRAI]
EQUITY
12618T105
4,639
98.30
456,013.70
0.4
LA-Z-BOY INC [LZB]
EQUITY
505336107
12,585
36.17
455,199.45
0.4
RYERSON HOLDING CORP [RYI]
EQUITY
783754104
13,700
32.84
449,908.00
0.4
LEVI STRAUSS & CO- CLASS A [LEVI]
EQUITY
52736R102
27,812
16.09
447,495.08
0.4
RELAY THERAPEUTICS INC [RLAY]
EQUITY
75943R102
38,193
11.50
439,219.50
0.4
NCINO INC [NCNO]
EQUITY
63947X101
13,060
33.62
439,077.20
0.4
KOPPERS HOLDINGS INC [KOP]
EQUITY
50060P106
9,250
47.32
437,710.00
0.4
OXFORD INDUSTRIES INC [OXM]
EQUITY
691497309
4,395
96.94
426,051.30
0.3
QUINSTREET INC [QNST]
EQUITY
74874Q100
33,505
12.26
410,771.30
0.3
SUNCOKE ENERGY INC [SXC]
EQUITY
86722A103
37,472
10.89
408,070.08
0.3
COURSERA INC [COUR]
EQUITY
22266M104
21,146
18.80
397,544.80
0.3
WORTHINGTON STEEL INC [WS]
EQUITY
982104101
15,687
24.93
391,076.91
0.3
PAGERDUTY INC [PD]
EQUITY
69553P100
17,863
21.32
380,839.16
0.3
FASTLY INC - CLASS A [FSLY]
EQUITY
31188V100
22,599
16.17
365,425.83
0.3
CARGURUS INC [CARG]
EQUITY
141788109
15,992
22.49
359,660.08
0.3
IROBOT CORP [IRBT]
EQUITY
462726100
9,261
37.52
347,472.72
0.3
DUTCH BROS INC-CLASS A [BROS]
EQUITY
26701L100
11,058
31.11
344,014.38
0.3
DIGITALOCEAN HOLDINGS INC [DOCN]
EQUITY
25402D102
9,498
35.34
335,659.32
0.3
SUNNOVA ENERGY INTERNATIONAL [NOVA]
EQUITY
86745K104
25,767
12.73
328,013.91
0.3
TEEKAY CORP [TK]
EQUITY
Y8564W103
41,032
7.92
324,973.44
0.3
AURORA INNOVATION INC [AUR]
EQUITY
051774107
97,416
3.29
320,498.64
0.3
CSG SYSTEMS INTL INC [CSGS]
EQUITY
126349109
6,288
50.88
319,933.44
0.3
ADAPTHEALTH CORP [AHCO]
EQUITY
00653Q102
44,077
7.25
319,558.25
0.3
USANA HEALTH SCIENCES INC [USNA]
EQUITY
90328M107
6,303
50.61
318,994.83
0.3
SCHRODINGER INC [SDGR]
EQUITY
80810D103
9,876
31.46
310,698.96
0.3
NU SKIN ENTERPRISES INC - A [NUS]
EQUITY
67018T105
16,656
18.63
310,301.28
0.3
STONERIDGE INC [SRI]
EQUITY
86183P102
16,730
17.89
299,299.70
0.2
HARMONIC INC [HLIT]
EQUITY
413160102
23,762
12.52
297,500.24
0.2
EZCORP INC-CL A [EZPW]
EQUITY
302301106
31,423
8.58
269,609.34
0.2
ASANA INC - CL A [ASAN]
EQUITY
04342Y104
15,824
16.88
267,109.12
0.2
PERELLA WEINBERG PARTNERS [PWP]
EQUITY
71367G102
22,268
11.68
260,090.24
0.2
REGENXBIO INC [RGNX]
EQUITY
75901B107
15,390
16.45
253,165.50
0.2
CASTLE BIOSCIENCES INC [CSTL]
EQUITY
14843C105
11,963
21.00
251,223.00
0.2
LIBERTY LATIN AMERIC-CL A [LILA]
EQUITY
G9001E102
35,144
6.99
245,656.56
0.2
DOCGO INC [DCGO]
EQUITY
256086109
49,180
4.93
242,457.40
0.2
THOUGHTWORKS HOLDING INC [TWKS]
EQUITY
88546E105
54,125
4.47
241,938.75
0.2
VITAL FARMS INC [VITL]
EQUITY
92847W103
15,669
15.35
240,519.15
0.2
PIEDMONT LITHIUM INC [PLL]
EQUITY
72016P105
9,377
25.62
240,238.74
0.2
AMERICA'S CAR-MART INC [CRMT]
EQUITY
03062T105
3,656
62.70
229,231.20
0.2
INTAPP INC [INTA]
EQUITY
45827U109
6,410
35.07
224,798.70
0.2
XPONENTIAL FITNESS INC-A [XPOF]
EQUITY
98422X101
19,521
11.43
223,125.03
0.2
BEAZER HOMES USA INC [BZH]
EQUITY
07556Q881
6,860
31.15
213,689.00
0.2
MAGNITE INC [MGNI]
EQUITY
55955D100
23,173
8.90
206,239.70
0.2
BLUEGREEN VACATIONS HOLDING [BVH]
EQUITY
096308101
2,735
74.88
204,796.80
0.2
AVEPOINT INC [AVPT]
EQUITY
053604104
25,211
7.77
195,889.47
0.2
PLAYAGS INC [AGS]
EQUITY
72814N104
23,796
8.11
192,985.56
0.2
FORRESTER RESEARCH INC [FORR]
EQUITY
346563109
7,390
25.09
185,415.10
0.2
CARS.COM INC [CARS]
EQUITY
14575E105
10,608
17.16
182,033.28
0.1
ARLO TECHNOLOGIES INC [ARLO]
EQUITY
04206A101
18,769
9.41
176,616.29
0.1
N-ABLE INC [NABL]
EQUITY
62878D100
13,578
12.89
175,020.42
0.1
A10 NETWORKS INC [ATEN]
EQUITY
002121101
13,373
12.92
172,779.16
0.1
JAMF HOLDING CORP [JAMF]
EQUITY
47074L105
9,917
17.42
172,754.14
0.1
TECHTARGET [TTGT]
EQUITY
87874R100
4,726
33.95
160,447.70
0.1
EVENTBRITE INC-CLASS A [EB]
EQUITY
29975E109
19,650
7.93
155,824.50
0.1
RE/MAX HOLDINGS INC-CL A [RMAX]
EQUITY
75524W108
12,212
12.08
147,520.96
0.1
UDEMY INC [UDMY]
EQUITY
902685106
11,260
13.10
147,506.00
0.1
CULLINAN ONCOLOGY INC [CGEM]
EQUITY
230031106
14,463
10.17
147,088.71
0.1
INFINERA CORP [INFN]
EQUITY
45667G103
33,212
4.38
145,468.56
0.1
HEALTHSTREAM INC [HSTM]
EQUITY
42222N103
5,421
26.16
141,813.36
0.1
INVESCO S&P S C U&C SER ETF [PSCU]
EQUITY
46138G409
2,629
52.116
137,013.23
0.1
AMPLITUDE INC-CLASS A [AMPL]
EQUITY
03213A104
11,380
11.77
133,942.60
0.1
AXOGEN INC [AXGN]
EQUITY
05463X106
15,604
8.55
133,414.20
0.1
GRID DYNAMICS HOLDINGS INC [GDYN]
EQUITY
39813G109
10,613
12.42
131,813.46
0.1
COUCHBASE INC [BASE]
EQUITY
22207T101
5,847
20.98
122,670.06
0.1
23ANDME HOLDING CO -CLASS A [ME]
EQUITY
90138Q108
153,488
0.796
122,176.45
0.1
TABOOLA.COM LTD [TBLA]
EQUITY
M8744T106
28,326
4.31
122,085.06
0.1
RAYONIER ADVANCED MATERIALS [RYAM]
EQUITY
75508B104
28,420
4.26
121,069.20
0.1
SILVERBOW RESOURCES INC [SBOW]
EQUITY
82836G102
4,303
28.10
120,914.30
0.1
FISKER INC [FSR]
EQUITY
33813J106
88,802
1.33
118,106.66
0.1
OUTSET MEDICAL INC [OM]
EQUITY
690145107
19,969
5.57
111,227.33
0.1
MERSANA THERAPEUTICS INC [MRSN]
EQUITY
59045L106
47,472
2.27
107,761.44
0.1
HEALTH CATALYST INC [HCAT]
EQUITY
42225T107
10,945
9.54
104,415.30
0.1
VIMEO INC [VMEO]
EQUITY
92719V100
27,364
3.72
101,794.08
0.1
ZIPRECRUITER INC-A [ZIP]
EQUITY
98980B103
7,213
13.81
99,611.53
0.1
ATARA BIOTHERAPEUTICS INC [ATRA]
EQUITY
046513107
208,827
0.443
92,510.36
0.1
GOPRO INC-CLASS A [GPRO]
EQUITY
38268T103
28,610
3.23
92,410.30
0.1
GOODRX HOLDINGS INC-CLASS A [GDRX]
EQUITY
38246G108
14,671
5.49
80,543.79
0.1
PLANET LABS PBC [PL]
EQUITY
72703X106
32,724
2.26
73,956.24
0.1
SEMRUSH HOLDINGS INC-A [SEMR]
EQUITY
81686C104
5,503
12.50
68,787.50
0.1
BANDWIDTH INC-CLASS A [BAND]
EQUITY
05988J103
4,541
14.40
65,390.40
0.1
DEFINITIVE HEALTHCARE CORP [DH]
EQUITY
24477E103
6,721
9.00
60,489.00
0.0
SHARECARE INC [SHCR]
EQUITY
81948W104
59,658
1.00
59,658.00
0.0
DOMO INC - CLASS B [DOMO]
EQUITY
257554105
5,801
9.56
55,457.56
0.0
NEXTDOOR HOLDINGS INC [KIND]
EQUITY
65345M108
32,324
1.70
54,950.80
0.0
VERA BRADLEY INC [VRA]
EQUITY
92335C106
7,174
7.09
50,863.66
0.0
EXPENSIFY INC - A [EXFY]
EQUITY
30219Q106
9,902
2.05
20,299.10
0.0
KIMCO REALTY CORP [KIM]
EQUITY
49446R109
0.748
20.85
15.60
0.0
Total
--
--
--
--
--
122,617
100.5
Cash and Other Assets Less Liabilities
--
--
--
--
--
--
-0.5
Total Net Assets
--
--
--
--
--
--
100%

As of 9/30/2023

Human Capital Factor US Small Cap ETF (HAPS)

Human Capital Factor Small Cap Index

-

Financials

HAPS: 17.6%

Benchmark: 17.6%

-

Health Care

HAPS: 17.0%

Benchmark: 17.0%

-

Consumer Discretionary

HAPS: 14.3%

Benchmark: 14.3%

-

Information Technology

HAPS: 11.9%

Benchmark: 12.0%

-

Industrials

HAPS: 10.1%

Benchmark: 10.1%

-

Real Estate

HAPS: 7.7%

Benchmark: 7.7%

-

Energy

HAPS: 7.2%

Benchmark: 7.2%

-

Materials

HAPS: 5.7%

Benchmark: 5.7%

-

Communication Services

HAPS: 3.1%

Benchmark: 3.1%

-

Consumer Staples

HAPS: 3.1%

Benchmark: 3.1%

-

Utilities

HAPS: 2.2%

Benchmark: 2.2%

HAPS: Human Capital Factor US Small Cap ETF

Benchmark: Human Capital Factor Small Cap Index

Investment Team


Harbor Capital Advisors, Inc. dark blue logo on white background

The Fund employs an indexing investment approach designed to track the performance of the CIBC Human Capital Factor Small Cap Index (“The Index”). The Fund invests at least 80% of its total assets in securities that are included in the Index.

The Index consists of a modified market capitalization-weighted portfolio of equity securities of approximately 200 small cap U.S. companies identified by Irrational Capital LLC (“Irrational Capital”) as those it believes to possess strong corporate culture based on its proprietary scoring methodology. The Index was developed by the Canadian Imperial Bank of Commerce (CIBC, the “Index Provider”).

Harbor Capital serves as the investment adviser.


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Important Information

Investing involves risk, principal loss is possible. Unlike mutual funds, ETFs may trade at a premium or discount to their net asset value. Harbor ETFs are new and have limited operating history to judge.

Shares are bought and sold at market price not net asset value (NAV). Market price returns are based upon the closing composite market price and do not represent the returns you would receive if you traded shares at other times.

There is no guarantee that the investment objective of the Fund will be achieved. Stock markets are volatile and equity values can decline significantly in response to adverse issuer, political, regulatory, market and economic conditions. Stocks of small cap companies pose special risks, including possible illiquidity and greater price volatility than stocks of larger, more established companies. The Fund may not exactly track the performance of the Index with perfect accuracy at all times. Tracking error may occur because of pricing differences, timing and costs incurred by the fund or during times of heightened market volatility. The Fund relies on the Index provider's methodology in assessing whether a company may be considered a corporate culture leader. There is no guarantee that the construction methodology will accurately assess a company to include or exclude it from the index which could have an adverse effect on the Fund's returns. The Fund's assets may be concentrated in a particular sector or industries to the extent the Index is concentrated and is subject to the risk that economic, political, or other market conditions that have a negative effect on that sector or industry will negatively impact the value of the Fund. The Fund’s assets may be concentrated in a particular sector, industry or group of industries to the extent the Index is so concentrated and could subject the Fund to the risk that economic, political or other conditions that have a negative effect on the Fund. There can be no assurance that the Fund will grow to or maintain an economically viable size, in which case the Board of Trustees may determine to liquidate the Fund.

CIBC is a third-party index provider to the Harbor Corporate Culture Small Cap ETF.

Bid/Ask Mid Price: the midpoint between the highest bid and the lowest offer, as of the time that the Fund’s NAV is calculated, typically 4 p.m. Eastern Time.

Premium/Discount ($): the difference between the Fund’s market price and NAV, expressed as a percentage of NAV. A premium is the amount that the Fund is trading above the reported NAV. A discount is the amount that the Fund is trading below the reported NAV.

30-Day Median Bid/Ask Spread: calculated by identifying national best bid and national best offer ("NBBO") for each fund as of the end of each 10 second interval during each trading day of the last 30 calendar days and dividing the difference between each such bid and offer by the midpoint of the NBBO. The median of those values is identified and that value is expressed as a percentage (rounded to the nearest hundredth).

Weighted Average Market Capitalization: The average size of the companies in a portfolio or index as measured by the market value of outstanding shares.

Price/Book: The price-to-book (P/B) ratio evaluates a firm's market value relative to its book value.

Adjusted Trailing P/E Ratio: The Adjusted Trailing P/E (Price/Earnings) Ratio is the closing stock price divided by the sum of the last 12 months actual EPS.

% EPS Growth – Past 3 year: Earnings per share refers to the bottom-line measure of a company’s profitability defined as net income divided by the number of outstanding shares.

Return on Equity: Return on equity (ROE) is a measure of financial performance calculated by dividing net income by shareholders' equity.

Forecasted P/E Ratio: a measure of the P/E (price-to-earnings) ratio using forecasted earnings for the P/E calculation.

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Harbor Funds Distributors, Inc. is the Distributor of the Harbor Mutual Funds.
Foreside Fund Services, LLC is the Distributor of the Harbor ETFs.
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Investing involves risk and the potential loss of capital.

Investors should carefully consider the investment objectives, risks, charges and expenses of a fund before investing. To obtain a summary prospectus or prospectus for this and other information, click here or call 800-422-1050. Read it carefully before investing.

All trademarks or product names mentioned herein are the property of their respective owners. Copyright © 2024 Harbor Capital Advisors, Inc. All rights reserved.