Harbor Long-Short Equity ETF (LSEQ)

It is our view that there is a shortage of strong, transparent liquid alternative options available to investors. Until now.

Harbor Long-Short Equity ETF (LSEQ)

It is our view that there is a shortage of strong, transparent liquid alternative options available to investors. Until now.

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Overview
Performance
Holdings
Investment Team
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Here’s the Long and Short of it

We believe that diversification has become harder to achieve as stock and bond correlations have risen. LSEQ can potentially be a solution for those seeking a different type of return stream through a variety of macro backdrops.

  • Using a regime framework, the long and short equity features afford investors equity exposure with an elevated focus on downside mitigation.
  • The strategy seeks low correlation to broad-based equity markets, resulting in potential diversification benefits.
  • We believe the investment team at Disciplined Alpha has an active edge, with an over 10-year record of systematic long-short investing, identifying macro trends, and selecting both long investments that have the potential to experience tailwinds and short investments that appear positioned to decline.

Overview

Investment Team
Management Team Logo

Current Price

As of 1/5/2024

$24.23

Price (NAV)

-$0.12

NAV Daily Change ($)

-0.49%

NAV Daily Change (%)

1.04%

NAV YTD Return

$24.24

Market Price

-$0.11

Market Daily Change ($)

-0.45%

Market Daily Change (%)

1.04%

Market YTD Return

Fund Facts

As of 1/5/2024

1/1/2015

Inception Date

1.70

Expense Ratio (%)
disclaimer

$13.326

Total Net Assets (million)

549,998

Shares Outstanding
(As of 1/8/2024)

LSEQ

Ticker

41151J828

Cusip

NYSE

Exchange

US41151J8282

ISIN

Foreside Fund Services, LLC

Distributor
disclaimer

A

Dividend Frequency

Long-Short Equity

Morningstar Category

HFRX Equity Hedge Index

Benchmark

Investment Objective:

The Fund seeks long-term growth of capital.

Pricing/Trading

As of 1/5/2024

$24.25

Bid/Ask Mid Price

$24.24

Closing Market Price

$0.02

Premium/Discount ($)

0.07%

Premium/Discount (%)

 

2023

Q1 2024

YTD

Days Traded at a Premium1811
Days Traded at a Discount133

0.34%

30-Day Median Bid/Ask Spread

2,000

Exchange Volume (Shares)

USD

Trading Currency

Historical Premium Discount to NAV

No Data Available

Performance

Average Annual Returns

Quarter-End

3 Mo.

YTD Return

1 Yr.

3 Yr.

5 Yr.

Since Fund Inception

Net Expense Ratio

Gross Expense Ratio

Long-Short Equity ETF - at NAV
1.98%
-21.45%
-21.45%
3.75%
3.18%
3.81%
1.70%disclaimer
1.70%
Market Price
--
--
--
--
--
-1.24%
--
--
HFRX Equity Hedge Index
3.60%
6.90%
6.90%
5.09%
6.09%
3.04%
--
--

Performance data shown represents past performance and is no guarantee of future results. 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.

ETF performance prior to 12/4/23 is attributable to the Disciplined Alpha Onshore Fund LP (the “Predecessor Fund”). The historical NAV of the predecessor are used for both NAV and Market Offer Price performance from inception to ETF listing date. Performance periods since LSEQ listing date may contain NAV and MOP data of both the newly formed ETF and the predecessor fund performance. Please refer to the Fund prospectus for further details.

The HFRX Equity Hedge Index measures the performance of the hedge fund market. Equity hedge strategies maintain positions both long and short in primarily equity and equity derivative securities. A wide variety of investment processes can be employed to arrive at an investment decision, including both quantitative and fundamental techniques; strategies can be broadly diversified or narrowly focused on specific sectors and can range broadly in terms of levels of net exposure, leverage employed, holding period, concentrations of market capitalizations and valuation ranges of typical portfolios.

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
--
--
--
0.00000

Holdings

Portfolio Characteristics

Sorry, there is no data available for this section

Top Ten Holdings

As of 1/8/2024

Company Name [Ticker]

% of Net Assets

MODERNA INC[MRNA]
3.1
January 24 Puts on HIBL US[HIBL 1 P39]
2.5
UIPATH INC - CLASS A[PATH]
2.4
SAGE THERAPEUTICS INC[SAGE]
2.1
ANTERO MIDSTREAM CORP[AM]
2.0
CROWDSTRIKE HOLDINGS INC - A[CRWD]
1.9
ELI LILLY & CO[LLY]
1.9
VISTRA CORP[VST]
1.7
NUTANIX INC - A[NTNX]
1.6
WILLIAMS-SONOMA INC[WSM]
1.6
% of Total Holdings:
20.8%

This information should not be considered as a recommendation to purchase or sell a particular security. The weightings, holdings, industry, sector and/or 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

MODERNA INC [MRNA]
EQUITY
60770K107
3,720
111.12
413,366.40
3.1
January 24 Puts on HIBL US [HIBL 1 P39]
OPTION
ADI2M8QH2
115,600
2.85
329,460.00
2.5
UIPATH INC - CLASS A [PATH]
EQUITY
90364P105
14,236
22.61
321,875.96
2.4
SAGE THERAPEUTICS INC [SAGE]
EQUITY
78667J108
13,029
21.47
279,732.63
2.1
ANTERO MIDSTREAM CORP [AM]
EQUITY
03676B102
20,996
12.45
261,400.20
2.0
CROWDSTRIKE HOLDINGS INC - A [CRWD]
EQUITY
22788C105
1,038
247.46
256,863.48
1.9
ELI LILLY & CO [LLY]
EQUITY
532457108
401
618.55
248,038.55
1.9
VISTRA CORP [VST]
EQUITY
92840M102
5,922
38.59
228,529.98
1.7
NUTANIX INC - A [NTNX]
EQUITY
67059N108
4,710
45.86
216,000.60
1.6
WILLIAMS-SONOMA INC [WSM]
EQUITY
969904101
1,082
196.13
212,212.66
1.6
TRIPADVISOR INC [TRIP]
EQUITY
896945201
9,838
20.98
206,401.24
1.5
CONSTELLATION ENERGY [CEG]
EQUITY
21037T109
1,763
116.24
204,931.12
1.5
GUIDEWIRE SOFTWARE INC [GWRE]
EQUITY
40171V100
1,936
105.09
203,454.24
1.5
WESTROCK CO [WRK]
EQUITY
96145D105
4,756
41.91
199,323.96
1.5
EXELIXIS INC [EXEL]
EQUITY
30161Q104
8,536
23.24
198,376.64
1.5
SHERWIN-WILLIAMS CO/THE [SHW]
EQUITY
824348106
664
296.68
196,995.52
1.5
CENCORA INC [COR]
EQUITY
03073E105
926
211.36
195,719.36
1.5
META PLATFORMS INC-CLASS A [META]
EQUITY
30303M102
554
351.95
194,980.30
1.5
RPM INTERNATIONAL INC [RPM]
EQUITY
749685103
1,809
104.76
189,510.84
1.4
CARDINAL HEALTH INC [CAH]
EQUITY
14149Y108
1,784
105.72
188,604.48
1.4
AMGEN INC [AMGN]
EQUITY
031162100
621
303.00
188,163.00
1.4
RYDER SYSTEM INC [R]
EQUITY
783549108
1,633
112.53
183,761.49
1.4
REGENERON PHARMACEUTICALS [REGN]
EQUITY
75886F107
199
913.17
181,720.83
1.4
CDW CORP/DE [CDW]
EQUITY
12514G108
841
214.04
180,007.64
1.4
ARISTA NETWORKS INC [ANET]
EQUITY
040413106
773
230.92
178,501.16
1.3
PALANTIR TECHNOLOGIES INC-A [PLTR]
EQUITY
69608A108
11,088
15.98
177,186.24
1.3
PINTEREST INC- CLASS A [PINS]
EQUITY
72352L106
4,884
35.92
175,433.28
1.3
OKTA INC [OKTA]
EQUITY
679295105
2,112
82.46
174,155.52
1.3
INFORMATICA INC - CLASS A [INFA]
EQUITY
45674M101
6,493
26.52
172,194.36
1.3
MARATHON PETROLEUM CORP [MPC]
EQUITY
56585A102
1,104
152.50
168,360.00
1.3
TARGA RESOURCES CORP [TRGP]
EQUITY
87612G101
1,958
85.79
167,976.82
1.3
T-MOBILE US INC [TMUS]
EQUITY
872590104
1,014
163.37
165,657.18
1.2
BOSTON SCIENTIFIC CORP [BSX]
EQUITY
101137107
2,795
58.16
162,557.20
1.2
LINDE PLC [LIN]
EQUITY
G54950103
396
409.12
162,011.52
1.2
SENTINELONE INC -CLASS A [S]
EQUITY
81730H109
6,760
23.67
160,009.20
1.2
UBER TECHNOLOGIES INC [UBER]
EQUITY
90353T100
2,775
57.58
159,784.50
1.2
APPLOVIN CORP-CLASS A [APP]
EQUITY
03831W108
4,139
38.11
157,737.29
1.2
WEX INC [WEX]
EQUITY
96208T104
793
197.91
156,942.63
1.2
LANDSTAR SYSTEM INC [LSTR]
EQUITY
515098101
819
184.50
151,105.50
1.1
DECKERS OUTDOOR CORP [DECK]
EQUITY
243537107
222
652.29
144,808.38
1.1
DELL TECHNOLOGIES -C [DELL]
EQUITY
24703L202
1,892
75.84
143,489.28
1.1
MCKESSON CORP [MCK]
EQUITY
58155Q103
289
478.19
138,196.91
1.0
SPLUNK INC [SPLK]
EQUITY
848637104
902
152.22
137,302.44
1.0
MARRIOTT INTERNATIONAL -CL A [MAR]
EQUITY
571903202
617
222.42
137,233.14
1.0
H&R BLOCK INC [HRB]
EQUITY
093671105
2,840
46.77
132,826.80
1.0
MURPHY USA INC [MUSA]
EQUITY
626755102
353
376.26
132,819.78
1.0
US FOODS HOLDING CORP [USFD]
EQUITY
912008109
2,689
46.73
125,656.97
0.9
MERCK & CO. INC. [MRK]
EQUITY
58933Y105
1,059
117.22
124,135.98
0.9
DAVITA INC [DVA]
EQUITY
23918K108
1,127
107.24
120,859.48
0.9
MOLINA HEALTHCARE INC [MOH]
EQUITY
60855R100
314
378.59
118,877.26
0.9
CADENCE DESIGN SYS INC [CDNS]
EQUITY
127387108
463
252.71
117,004.73
0.9
PACKAGING CORP OF AMERICA [PKG]
EQUITY
695156109
686
167.75
115,076.50
0.9
PERFORMANCE FOOD GROUP CO [PFGC]
EQUITY
71377A103
1,640
70.05
114,882.00
0.9
P G & E CORP [PCG]
EQUITY
69331C108
6,401
17.89
114,513.89
0.9
PHILLIPS 66 [PSX]
EQUITY
718546104
843
135.24
114,007.32
0.9
AZENTA INC [AZTA]
EQUITY
114340102
1,767
64.30
113,618.10
0.9
TJX COMPANIES INC [TJX]
EQUITY
872540109
1,233
91.71
113,078.43
0.8
ALPHABET INC-CL C [GOOG]
EQUITY
02079K107
818
137.39
112,385.02
0.8
ECOLAB INC [ECL]
EQUITY
278865100
573
195.25
111,878.25
0.8
MASTERCARD INC - A [MA]
EQUITY
57636Q104
267
418.76
111,808.92
0.8
ROSS STORES INC [ROST]
EQUITY
778296103
830
134.50
111,635.00
0.8
MARTIN MARIETTA MATERIALS [MLM]
EQUITY
573284106
229
486.80
111,477.20
0.8
MOTOROLA SOLUTIONS INC [MSI]
EQUITY
620076307
360
309.16
111,297.60
0.8
ZOETIS INC [ZTS]
EQUITY
98978V103
569
194.85
110,869.65
0.8
TECHNIPFMC PLC [FTI]
EQUITY
G87110105
5,542
19.83
109,897.86
0.8
AUTOZONE INC [AZO]
EQUITY
053332102
43
2,550.93
109,689.99
0.8
SYNOPSYS INC [SNPS]
EQUITY
871607107
225
484.81
109,082.25
0.8
ZOOM VIDEO COMMUNICATIONS-A [ZM]
EQUITY
98980L101
1,629
66.96
109,077.84
0.8
O'REILLY AUTOMOTIVE INC [ORLY]
EQUITY
67103H107
117
925.40
108,271.80
0.8
AMPHENOL CORP-CL A [APH]
EQUITY
032095101
1,144
94.46
108,062.24
0.8
F5 INC [FFIV]
EQUITY
315616102
630
171.45
108,013.50
0.8
UNITED THERAPEUTICS CORP [UTHR]
EQUITY
91307C102
469
229.40
107,588.60
0.8
NETAPP INC [NTAP]
EQUITY
64110D104
1,255
85.07
106,762.85
0.8
NEUROCRINE BIOSCIENCES INC [NBIX]
EQUITY
64125C109
797
132.48
105,586.56
0.8
GODADDY INC - CLASS A [GDDY]
EQUITY
380237107
1,050
100.22
105,231.00
0.8
GARTNER INC [IT]
EQUITY
366651107
246
425.37
104,641.02
0.8
APPLE INC [AAPL]
EQUITY
037833100
573
181.18
103,816.14
0.8
AMAZON.COM INC [AMZN]
EQUITY
023135106
709
145.24
102,975.16
0.8
VERTEX PHARMACEUTICALS INC [VRTX]
EQUITY
92532F100
242
416.50
100,793.00
0.8
PALO ALTO NETWORKS INC [PANW]
EQUITY
697435105
353
282.93
99,874.29
0.7
HILTON WORLDWIDE HOLDINGS IN [HLT]
EQUITY
43300A203
553
180.50
99,816.50
0.7
RELIANCE STEEL & ALUMINUM [RS]
EQUITY
759509102
353
277.64
98,006.92
0.7
CASEY'S GENERAL STORES INC [CASY]
EQUITY
147528103
334
284.34
94,969.56
0.7
COSTCO WHOLESALE CORP [COST]
EQUITY
22160K105
137
656.01
89,873.37
0.7
ICON PLC [ICLR]
EQUITY
G4705A100
330
270.72
89,337.60
0.7
MANHATTAN ASSOCIATES INC [MANH]
EQUITY
562750109
442
199.37
88,121.54
0.7
ESC GCI LIBERTY INC SR COMMON STOCK
EQUITY
--
361ESC049
1,871
0.00
0.00
0.0
UNITY SOFTWARE INC [U]
EQUITY
91332U101
-5,187
37.78
-195,964.86
-1.5
RH [RH]
EQUITY
74967X103
-789
263.71
-208,067.19
-1.6
TARGET CORP [TGT]
EQUITY
87612E106
-1,512
140.75
-212,814.00
-1.6
MASIMO CORP [MASI]
EQUITY
574795100
-1,910
111.62
-213,194.20
-1.6
INSPIRE MEDICAL SYSTEMS INC [INSP]
EQUITY
457730109
-1,272
175.65
-223,426.80
-1.7
ALBEMARLE CORP [ALB]
EQUITY
012653101
-1,654
135.83
-224,662.82
-1.7
HASHICORP INC-CL A [HCP]
EQUITY
418100103
-10,360
21.85
-226,366.00
-1.7
FIVE BELOW [FIVE]
EQUITY
33829M101
-1,140
200.84
-228,957.60
-1.7
CHURCHILL DOWNS INC [CHDN]
EQUITY
171484108
-1,833
127.13
-233,029.29
-1.7
CHARLES RIVER LABORATORIES [CRL]
EQUITY
159864107
-1,045
223.89
-233,965.05
-1.8
STARBUCKS CORP [SBUX]
EQUITY
855244109
-2,521
92.99
-234,427.79
-1.8
UNITED AIRLINES HOLDINGS INC [UAL]
EQUITY
910047109
-5,630
41.76
-235,108.80
-1.8
VIASAT INC [VSAT]
EQUITY
92552V100
-9,104
25.83
-235,156.32
-1.8
CHARTER COMMUNICATIONS INC-A [CHTR]
EQUITY
16119P108
-638
372.20
-237,463.60
-1.8
ORACLE CORP [ORCL]
EQUITY
68389X105
-2,318
102.73
-238,128.14
-1.8
CABLE ONE INC [CABO]
EQUITY
12685J105
-444
538.11
-238,920.84
-1.8
MARRIOTT VACATIONS WORLD [VAC]
EQUITY
57164Y107
-2,801
86.14
-241,278.14
-1.8
TAKE-TWO INTERACTIVE SOFTWRE [TTWO]
EQUITY
874054109
-1,545
158.21
-244,434.45
-1.8
AMERICAN WATER WORKS CO INC [AWK]
EQUITY
030420103
-1,857
131.89
-244,919.73
-1.8
ALASKA AIR GROUP INC [ALK]
EQUITY
011659109
-6,506
37.95
-246,902.70
-1.9
BIO-RAD LABORATORIES-A [BIO]
EQUITY
090572207
-781
316.38
-247,092.78
-1.9
ADVANCE AUTO PARTS INC [AAP]
EQUITY
00751Y106
-4,047
61.52
-248,971.44
-1.9
SAREPTA THERAPEUTICS INC [SRPT]
EQUITY
803607100
-2,578
97.34
-250,942.52
-1.9
CATALENT INC [CTLT]
EQUITY
148806102
-5,518
45.73
-252,338.14
-1.9
ACADIA HEALTHCARE CO INC [ACHC]
EQUITY
00404A109
-3,219
79.25
-255,105.75
-1.9
SOUTHWEST AIRLINES CO [LUV]
EQUITY
844741108
-8,843
29.15
-257,773.45
-1.9
CONFLUENT INC-CLASS A [CFLT]
EQUITY
20717M103
-11,756
22.25
-261,571.00
-2.0
Total
--
--
--
--
--
6,897
51.2
Cash and Other Assets Less Liabilities
--
--
--
--
--
--
48.8
Total Net Assets
--
--
--
--
--
--
100%

Investment Team


Sub-advisor logo

Disciplined Alpha LLC (“Disciplined Alpha”) is a Registered Investment Advisor based in Boston, Massachusetts and founded in 2013. Disciplined Alpha employs a structured quantitative approach. Key components include the use of a proprietary macroeconomic regime model to determine gross and net exposure, as well as weights for value, neutral, or momentum factors. Disciplined Alpha also prioritizes industry groups perceived to offer substantial alpha opportunities. Within these groups, the long model incorporates proprietary stock selection factors derived from discussions with company management and third-party fundamental analysts. Additionally, a distinct short model is applied to manage the short side of the Fund's portfolio.

Documents

Name

Date

File

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.

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. Short selling securities could potentially have unlimited loss due to the price of securities sold short increasing beyond the cost of replacement and the limitless increase on the value of a security. The Fund utilizes a quantitative model and there are limitations in every quantitative model. There can be no assurances that the strategies pursued or the techniques implemented in the quantitative model will be profitable, and various market conditions may be materially less favorable to certain strategies than others.

The Harbor Long-Short Equity ETF (the “Fund”) acquired the assets and assumed the then existing known liabilities of the Disciplined Alpha Onshore Fund LP (the “Predecessor Fund”), a Delaware limited partnership, on 12/4/23, and the Fund is the performance successor of the reorganization. This means that the Predecessor Fund’s performance and financial history will be used by the Fund going forward from the date of reorganization. Performance information prior to 12/4/23 reflects all fees and expenses, including a performance fee, incurred by the Predecessor Fund. Disciplined Alpha LLC (“Disciplined Alpha”) served as the general partner and investment manager to the Predecessor Fund, which commenced operations on 1/1/15 and, since that time, implemented its investment strategy indirectly through its investment in a master fund, which had the same general partner, investment manager, investment policies, objectives, guidelines and restrictions as the Predecessor Fund. Regardless of whether the Predecessor Fund operated as a stand-alone fund or invested indirectly through a master fund, Disciplined Alpha managed the Predecessor Fund assets using investment policies, objectives, guidelines and restrictions that were in all material respects equivalent to those of the Fund. However, the Predecessor Fund was not a registered fund and so it was not subject to the same investment and tax restrictions as the Fund. If it had been, the Predecessor Fund’s performance may have been lower.

The views expressed herein may not be reflective of current opinions, are subject to change without prior notice, and should not be considered investment advice.

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.

Diversification does not assure a profit or protect against loss in a declining market.

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