Harbor Human Capital Factor US Large Cap ETF (HAPI)

Access the link between strong corporate culture and potential equity value.

NAV as of 11/6/2026
$44.32
NAV Daily Change
-$0.04 ↓
NAV YTD Return
8.10% ↑
Net Expense Ratio (%)
0.35
Total Net Assets (million) as of 11/6/2026
$483.527
Benchmark
Human Capital Factor Large Cap Index

An 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 scores 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.

HAPI offers exposure to larger capitalization companies with strong Human Capital Factor® scores while constraining sectors in an effort to enhance overall diversification.

Differentiated Research that Seeks to Uncover Alpha

  • Irrational Capital looks to identify companies with strong employer/employee relationships.

  • The HCF® seeks to unlock an underutilized alpha factor and uncorrelated returns.

  • Creates a systematic link between a company's HCF® score and its resulting company equity performance.

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Invests in Human Capital.

The Human Capital Factor measures intrinsic and extrinsic motivation that  establishes the relationship between employee well‑being and business fundamentals which, in turn, could impact equity performance.

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Outcome Oriented. Socially Conscious.

The Human Capital Factor offers a socially conscious, systematic measure of business fundamentals.

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Backed by Data.

The Human Capital Factor is grounded in proprietary data that seeks to prove "doing the right thing" can pay. 

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▼
|Large Cap ETF|
Tracks the Human Capital Factor Large Cap 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
|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

Harbor Capital Advisors, Inc. dark blue logo on white background
Investment team
Harbor Capital Advisors, Inc.
Steve Cook
Elizabeth Despain
Jim Erceg
Learn more

As of 11/6/2026

$44.32

Price (NAV)

-$0.04

NAV Daily Change ($)

-0.09%

NAV Daily Change (%)

8.10%

NAV YTD Return

As of 11/6/2026

10/12/2022

Inception Date

0.35

Expense Ratio (%)

$483.527

Total Net Assets (million)

10,900,000

Shares Outstanding
(As of 11/6/2026)

HAPI

Ticker

41151J877

Cusip

NYSE Arca

Exchange

US41151J8779

ISIN

Foreside Fund Services, LLC

Distributor

Annually

Dividend Frequency

Large Blend

Morningstar Category

Human Capital Factor Large Cap Index

Benchmark

331,511,756

Implied Liquidity™ (Shares)

$14,705,941,390.49

Implied Liquidity

Investment Objective:

The Fund seeks to provide investment results that correspond, before fees and expenses, to the performance of the Human Capital Factor Large Cap Index.

As of 11/5/2026

$44.38

Bid/Ask Mid Price

$44.40

Closing Market Price

$0.02

Premium/Discount ($)

0.04%

Premium/Discount (%)
2025
Q1 2026
Q2 2026
Q3 2026
Q4 2026
YTD
Days Traded at a Premium
66
35
23
43
25
126
Days Traded at a Discount
184
26
39
21
1
87

0.13%

30-Day Median Bid/Ask Spread

11,941

Exchange Volume (Shares)

USD

Trading Currency

Historical Premium Discount to NAV

No Data Available

Performance

Select an option

Loading Performance Data...

3 Mo.
YTD Return
1 Yr.
3 Yr.
Since Fund Inception
Net Expense Ratio
Gross Expense Ratio
Human Capital Factor US Large Cap ETF - at NAV
3.00%
11.49%
14.53%
22.36%
24.01%
0.35%
0.35%
Market Price
3.20%
11.63%
14.75%
22.44%
24.07%
--
--
Human Capital Factor Large Cap Total Return Index
3.09%
11.83%
14.96%
22.83%
24.43%
--
--
S&P 500 Index
2.30%
12.75%
15.74%
22.89%
22.82%
--
--

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 Large Cap Index consists of a modified market‑weighted portfolio of the equity securities of 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. Constituents eligible are chosen from Solactive GBS United States 500 Index (the “index universe”) at the time of Index reconstitution. The Solactive GBS United States 500 Index intends to track the performance of the largest 500 companies from the US stock market. The index listed is unmanaged and does not reflect fees and expenses and is not available for direct investment.

The S&P 500 Index is an unmanaged index generally representative of the U.S. market for large capitalization equities. This unmanaged index does not reflect fees and expenses and is not available for direct investment.

Select an option

Ex-Date
Record Date
Payable Date
Ordinary Income
Short Term Capital Gains
Long Term Capital Gains
Total Distribution
12/18/2025
12/18/2025
12/23/2025
0.35551
--
--
0.35551
12/19/2024
12/19/2024
12/25/2024
0.07519
--
--
0.07519
12/20/2023
12/21/2023
12/26/2023
0.28324
0.05303
0.00295
0.33922
12/20/2022
12/21/2022
12/26/2022
0.06304
0.00056
--
0.06360

Holdings

As of 10/31/2026

157

Number of Holdings

1341421.6

Wtd Avg Market Cap ($Mil)

8.07

Price/Book Ratio

26

Adjusted Trailing P/E Ratio

29.7

% EPS Growth - Past 3 Yr

22.29

Return on Equity (%)

22

Forecasted P/E Ratio

As of 11/5/2026

Company Name [Ticker]
% of Net Assets
APPLE INC[AAPL]
6.2
MICROSOFT CORP[MSFT]
6.2
AMAZON.COM INC[AMZN]
6.0
NVIDIA CORP[NVDA]
4.6
META PLATFORMS INC-CLASS A[META]
4.4
ALPHABET INC-CL A[GOOGL]
4.3
JPMORGAN CHASE & CO[JPM]
3.1
ELI LILLY & CO[LLY]
2.9
CISCO SYSTEMS INC[CSCO]
2.7
CHEVRON CORP[CVX]
2.2
% of Total Holdings:
42.6%

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 11/5/2026

Company Name [Ticker]
Category Name
Country
Cusip
Shares
Current Price ($)
Market Value ($)
% of Net Assets
APPLE INC [AAPL]
EQUITY
037833100
87,251
344.17
30,029,176.67
6.2
MICROSOFT CORP [MSFT]
EQUITY
594918104
55,608
535.93
29,801,995.44
6.2
AMAZON.COM INC [AMZN]
EQUITY
023135106
112,260
260.21
29,211,174.60
6.0
NVIDIA CORP [NVDA]
EQUITY
67066G104
122,079
181.60
22,169,546.40
4.6
META PLATFORMS INC-CLASS A [META]
EQUITY
30303M102
34,916
605.08
21,126,973.28
4.4
ALPHABET INC-CL A [GOOGL]
EQUITY
02079K305
72,997
282.57
20,626,762.29
4.3
JPMORGAN CHASE & CO [JPM]
EQUITY
46625H100
45,049
337.34
15,196,829.66
3.1
ELI LILLY & CO [LLY]
EQUITY
532457108
10,300
1,364.73
14,056,719.00
2.9
CISCO SYSTEMS INC [CSCO]
EQUITY
17275R102
138,328
95.72
13,240,756.16
2.7
CHEVRON CORP [CVX]
EQUITY
166764100
49,526
212.93
10,545,571.18
2.2
NETFLIX INC [NFLX]
EQUITY
64110L106
154,650
65.56
10,138,854.00
2.1
MASTERCARD INC - A [MA]
EQUITY
57636Q104
13,557
655.92
8,892,307.44
1.8
COSTCO WHOLESALE CORP [COST]
EQUITY
22160K105
7,938
1,065.59
8,458,653.42
1.7
SALESFORCE INC [CRM]
EQUITY
79466L302
35,501
222.41
7,895,777.41
1.6
PROCTER & GAMBLE CO/THE [PG]
EQUITY
742718109
46,162
167.10
7,713,670.20
1.6
JOHNSON & JOHNSON [JNJ]
EQUITY
478160104
27,415
272.32
7,465,652.80
1.5
PHILIP MORRIS INTERNATIONAL [PM]
EQUITY
718172109
30,954
201.50
6,237,231.00
1.3
ABBVIE INC [ABBV]
EQUITY
00287Y109
20,760
288.24
5,983,862.40
1.2
KLA CORP [KLAC]
EQUITY
482480100
44,156
129.80
5,731,448.80
1.2
ARISTA NETWORKS INC [ANET]
EQUITY
040413205
35,434
159.16
5,639,675.44
1.2
GENERAL ELECTRIC [GE]
EQUITY
369604301
17,494
314.73
5,505,886.62
1.1
BANK OF AMERICA CORP [BAC]
EQUITY
060505104
105,669
49.76
5,258,089.44
1.1
AUTOMATIC DATA PROCESSING [ADP]
EQUITY
053015103
16,165
307.14
4,964,918.10
1.0
VERIZON COMMUNICATIONS INC [VZ]
EQUITY
92343V104
107,348
46.12
4,950,889.76
1.0
WALT DISNEY CO/THE [DIS]
EQUITY
254687106
37,359
117.22
4,379,221.98
0.9
INTUIT INC [INTU]
EQUITY
461202103
11,636
354.84
4,128,918.24
0.9
MERCK & CO. INC. [MRK]
EQUITY
58933Y105
27,683
146.94
4,067,740.02
0.8
SERVICENOW INC [NOW]
EQUITY
81762P102
38,949
102.36
3,986,819.64
0.8
MARVELL TECHNOLOGY INC [MRVL]
EQUITY
573874104
29,607
133.55
3,954,014.85
0.8
LAM RESEARCH CORP [LRCX]
EQUITY
512807306
21,220
185.20
3,929,944.00
0.8
MORGAN STANLEY [MS]
EQUITY
617446448
21,197
182.44
3,867,180.68
0.8
CATERPILLAR INC [CAT]
EQUITY
149123101
6,760
553.64
3,742,606.40
0.8
PROLOGIS INC [PLD]
EQUITY
74340W103
28,891
128.55
3,713,938.05
0.8
SPOTIFY TECHNOLOGY SA [SPOT]
EQUITY
L8681T102
5,829
614.41
3,581,395.89
0.7
GE VERNOVA INC [GEV]
EQUITY
36828A101
4,181
770.51
3,221,502.31
0.7
BOOKING HOLDINGS INC [BKNG]
EQUITY
09857L108
18,868
168.72
3,183,408.96
0.7
EMERSON ELECTRIC CO [EMR]
EQUITY
291011104
19,102
162.61
3,106,176.22
0.6
S&P GLOBAL INC [SPGI]
EQUITY
78409V104
6,420
472.41
3,032,872.20
0.6
AMERICAN EXPRESS CO [AXP]
EQUITY
025816109
9,277
324.97
3,014,746.69
0.6
FREEPORT-MCMORAN INC [FCX]
EQUITY
35671D857
51,536
57.90
2,983,934.40
0.6
SYNOPSYS INC [SNPS]
EQUITY
871607107
6,748
440.31
2,971,211.88
0.6
CADENCE DESIGN SYS INC [CDNS]
EQUITY
127387108
9,227
311.43
2,873,564.61
0.6
SCHWAB (CHARLES) CORP [SCHW]
EQUITY
808513105
30,880
92.58
2,858,870.40
0.6
AMGEN INC [AMGN]
EQUITY
031162100
6,066
460.28
2,792,058.48
0.6
CONSTELLATION ENERGY [CEG]
EQUITY
21037T109
11,415
239.65
2,735,604.75
0.6
VALERO ENERGY CORP [VLO]
EQUITY
91913Y100
7,516
351.23
2,639,844.68
0.5
MOTOROLA SOLUTIONS INC [MSI]
EQUITY
620076307
4,971
517.01
2,570,056.71
0.5
ALTRIA GROUP INC [MO]
EQUITY
02209S103
32,194
77.58
2,497,610.52
0.5
DEERE & CO [DE]
EQUITY
244199105
3,679
663.31
2,440,317.49
0.5
PROGRESSIVE CORP [PGR]
EQUITY
743315103
9,664
233.18
2,253,451.52
0.5
LOCKHEED MARTIN CORP [LMT]
EQUITY
539830109
3,860
576.16
2,223,977.60
0.5
AUTODESK INC [ADSK]
EQUITY
052769106
7,990
269.16
2,150,588.40
0.4
INTUITIVE SURGICAL INC [ISRG]
EQUITY
46120E602
4,517
468.52
2,116,304.84
0.4
NUCOR CORP [NUE]
EQUITY
670346105
8,350
245.68
2,051,428.00
0.4
PFIZER INC [PFE]
EQUITY
717081103
66,536
29.45
1,959,485.20
0.4
EATON CORP PLC [ETN]
EQUITY
G29183103
5,948
327.02
1,945,114.96
0.4
HEWLETT PACKARD ENTERPRISE [HPE]
EQUITY
42824C109
42,817
44.16
1,890,798.72
0.4
DIGITAL REALTY TRUST INC [DLR]
EQUITY
253868103
10,389
174.67
1,814,646.63
0.4
MARSH & MCLENNAN COS [MRSH]
EQUITY
571748102
8,624
209.43
1,806,124.32
0.4
PARKER HANNIFIN CORP [PH]
EQUITY
701094104
2,020
892.29
1,802,425.80
0.4
SEMPRA [SRE]
EQUITY
816851109
22,502
79.83
1,796,334.66
0.4
CME GROUP INC [CME]
EQUITY
12572Q105
5,565
307.24
1,709,790.60
0.4
MARRIOTT INTERNATIONAL -CL A [MAR]
EQUITY
571903202
4,092
417.28
1,707,509.76
0.4
MONDELEZ INTERNATIONAL INC-A [MDLZ]
EQUITY
609207105
25,119
66.82
1,678,451.58
0.3
ROYAL CARIBBEAN CRUISES LTD [RCL]
EQUITY
V7780T103
4,953
322.73
1,598,481.69
0.3
HILTON WORLDWIDE HOLDINGS IN [HLT]
EQUITY
43300A203
4,254
369.64
1,572,448.56
0.3
BLACKSTONE INC [BX]
EQUITY
09260D107
13,070
119.82
1,566,047.40
0.3
SS MATERIALS SELECT SECTOR [XLB]
EQUITY
81369Y100
29,657
52.33
1,551,950.81
0.3
COLGATE-PALMOLIVE CO [CL]
EQUITY
194162103
15,695
98.69
1,548,939.55
0.3
CONSOLIDATED EDISON INC [ED]
EQUITY
209115104
12,700
121.44
1,542,288.00
0.3
3M CO [MMM]
EQUITY
88579Y101
8,058
187.77
1,513,050.66
0.3
MERCADOLIBRE INC [MELI]
EQUITY
58733R102
987
1,530.28
1,510,386.36
0.3
CSX CORP [CSX]
EQUITY
126408103
29,242
50.83
1,486,370.86
0.3
AIRBNB INC-CLASS A [ABNB]
EQUITY
009066101
8,567
170.13
1,457,503.71
0.3
STRYKER CORP [SYK]
EQUITY
863667101
4,239
335.08
1,420,404.12
0.3
TRAVELERS COS INC/THE [TRV]
EQUITY
89417E109
3,524
402.89
1,419,784.36
0.3
KEYSIGHT TECHNOLOGIES IN [KEYS]
EQUITY
49338L103
5,447
260.61
1,419,542.67
0.3
MONSTER BEVERAGE CORP [MNST]
EQUITY
61174X109
28,598
47.83
1,367,842.34
0.3
TRANE TECHNOLOGIES PLC [TT]
EQUITY
G8994E103
3,414
392.43
1,339,756.02
0.3
ONEOK INC [OKE]
EQUITY
30609A109
15,497
86.25
1,336,616.25
0.3
NORTHROP GRUMMAN CORP [NOC]
EQUITY
666807102
2,394
525.25
1,257,448.50
0.3
EBAY INC [EBAY]
EQUITY
278642103
9,804
123.35
1,209,323.40
0.3
SLB LTD [SLB]
EQUITY
806857108
24,340
49.64
1,208,237.60
0.2
AON PLC-CLASS A [AON]
EQUITY
G0403H108
3,432
344.40
1,181,980.80
0.2
WW GRAINGER INC [GWW]
EQUITY
384802104
802
1,451.39
1,164,014.78
0.2
QUANTA SERVICES INC [PWR]
EQUITY
74762E102
2,270
509.06
1,155,566.20
0.2
OCCIDENTAL PETROLEUM CORP [OXY]
EQUITY
674599105
20,347
56.36
1,146,756.92
0.2
HONEYWELL INTERNATIONAL INC [HON]
EQUITY
438516205
5,088
215.78
1,097,888.64
0.2
ST SR UTL SL SE SPDR ETF-USD [XLU]
EQUITY
81369Y886
23,968
43.30
1,037,814.40
0.2
REGENERON PHARMACEUTICALS [REGN]
EQUITY
75886F107
1,130
902.90
1,020,277.00
0.2
CUMMINS INC [CMI]
EQUITY
231021106
2,251
448.58
1,009,753.58
0.2
BOSTON SCIENTIFIC CORP [BSX]
EQUITY
101137107
22,590
44.64
1,008,417.60
0.2
FORD MOTOR CO [F]
EQUITY
345370860
79,745
12.53
999,204.85
0.2
UNITED RENTALS INC [URI]
EQUITY
911363109
937
1,043.78
978,021.86
0.2
HP INC [HPQ]
EQUITY
40434L105
32,337
29.44
952,001.28
0.2
NIKE INC -CL B [NKE]
EQUITY
654106103
23,889
39.56
945,048.84
0.2
P G & E CORP [PCG]
EQUITY
69331C108
70,049
13.23
926,748.27
0.2
MSCI INC [MSCI]
EQUITY
55354G100
1,409
655.91
924,177.19
0.2
METLIFE INC [MET]
EQUITY
59156R108
9,229
99.75
920,592.75
0.2
CIENA CORP [CIEN]
EQUITY
171779309
3,982
230.81
919,085.42
0.2
NASDAQ INC [NDAQ]
EQUITY
631103108
8,490
106.83
906,986.70
0.2
DELTA AIR LINES INC [DAL]
EQUITY
247361702
10,575
85.36
902,682.00
0.2
TERADYNE INC [TER]
EQUITY
880770102
4,181
212.74
889,465.94
0.2
EXPEDIA GROUP INC [EXPE]
EQUITY
30212P303
2,848
272.48
776,023.04
0.2
VYLOR INC [VYLR]
EQUITY
92892R108
11,204
68.53
767,810.12
0.2
EDISON INTERNATIONAL [EIX]
EQUITY
281020107
12,608
60.88
767,575.04
0.2
DR HORTON INC [DHI]
EQUITY
23331A109
4,862
157.63
766,397.06
0.2
EDWARDS LIFESCIENCES CORP [EW]
EQUITY
28176E108
7,554
100.82
761,594.28
0.2
HONEYWELL AEROSPACE INC [HONA]
EQUITY
43849R105
5,088
149.59
761,113.92
0.2
IQVIA HOLDINGS INC [IQV]
EQUITY
46266C105
2,839
264.88
751,994.32
0.2
PRUDENTIAL FINANCIAL INC [PRU]
EQUITY
744320102
6,070
122.46
743,332.20
0.2
VIVMARK RESIDENTIAL [VMRK]
EQUITY
29476L107
11,160
65.25
728,190.00
0.2
KIMBERLY-CLARK CORP [KMB]
EQUITY
494368103
6,287
110.46
694,462.02
0.1
DUPONT DE NEMOURS INC [DD]
EQUITY
26614N201
4,578
144.93
663,489.54
0.1
NATERA INC [NTRA]
EQUITY
632307104
1,781
363.76
647,856.56
0.1
ARCH CAPITAL GROUP LTD [ACGL]
EQUITY
G0450A105
5,674
110.57
627,374.18
0.1
JACOBS SOLUTIONS INC [J]
EQUITY
46982L108
4,139
147.54
610,668.06
0.1
HARTFORD INSURANCE GROUP INC [HIG]
EQUITY
416515104
4,353
137.09
596,752.77
0.1
PINTEREST INC- CLASS A [PINS]
EQUITY
72352L106
29,440
19.79
582,617.60
0.1
CREDO TECHNOLOGY GROUP HOLDI [CRDO]
EQUITY
G25457105
5,154
112.33
578,948.82
0.1
CBOE GLOBAL MARKETS INC [CBOE]
EQUITY
12503M108
1,632
353.07
576,210.24
0.1
DOLLAR GENERAL CORP [DG]
EQUITY
256677105
3,960
138.00
546,480.00
0.1
AXON ENTERPRISE INC [AXON]
EQUITY
05464C101
1,414
382.56
540,939.84
0.1
REDDIT INC-CL A [RDDT]
EQUITY
75734B100
5,567
93.81
522,240.27
0.1
INVITATION HOMES INC [INVH]
EQUITY
46187W107
18,838
27.56
519,175.28
0.1
PULTEGROUP INC [PHM]
EQUITY
745867101
3,567
135.15
482,080.05
0.1
CINCINNATI FINANCIAL CORP [CINF]
EQUITY
172062101
2,467
188.31
464,560.77
0.1
GE HEALTHCARE TECHNOLOGY [GEHC]
EQUITY
36266G107
5,476
83.75
458,615.00
0.1
SYNCHRONY FINANCIAL [SYF]
EQUITY
87165B103
6,141
74.07
454,863.87
0.1
TRIMBLE INC [TRMB]
EQUITY
896239100
8,297
53.64
445,051.08
0.1
ZOETIS INC [ZTS]
EQUITY
98978V103
5,329
82.11
437,564.19
0.1
RESMED INC [RMD]
EQUITY
761152107
1,800
239.31
430,758.00
0.1
PRINCIPAL FINANCIAL GROUP [PFG]
EQUITY
74251V102
3,790
112.82
427,587.80
0.1
EQUIFAX INC [EFX]
EQUITY
294429105
2,085
193.84
404,156.40
0.1
MARKEL GROUP INC [MKL]
EQUITY
570535104
201
1,949.92
391,933.92
0.1
GENERAL MILLS INC [GIS]
EQUITY
370334104
10,593
36.46
386,220.78
0.1
BROWN & BROWN INC [BRO]
EQUITY
115236101
4,899
74.38
364,387.62
0.1
SOFI TECHNOLOGIES INC [SOFI]
EQUITY
83406F102
22,346
16.04
358,429.84
0.1
STERIS PLC [STE]
EQUITY
G8473T100
1,268
254.12
322,224.16
0.1
HEICO CORP-CLASS A [HEI/A]
EQUITY
422806208
1,299
244.26
317,293.74
0.1
LOEWS CORP [L]
EQUITY
540424108
2,698
111.13
299,828.74
0.1
DRAFTKINGS INC-CL A [DKNG]
EQUITY
26142V105
11,756
23.52
276,501.12
0.1
ALNYLAM PHARMACEUTICALS INC [ALNY]
EQUITY
02043Q107
1,713
156.66
268,358.58
0.1
LULULEMON ATHLETICA INC [LULU]
EQUITY
550021109
2,128
111.77
237,846.56
0.0
INCYTE CORP [INCY]
EQUITY
45337C102
1,979
118.01
233,541.79
0.0
TRADE DESK INC/THE -CLASS A [TTD]
EQUITY
88339J105
17,821
12.81
228,287.01
0.0
TRADEWEB MARKETS INC-CLASS A [TW]
EQUITY
892672106
1,720
127.56
219,403.20
0.0
TEXAS PACIFIC LAND CORP [TPL]
EQUITY
88262P102
740
272.18
201,413.20
0.0
LENNOX INTERNATIONAL INC [LII]
EQUITY
526107107
462
348.79
161,140.98
0.0
INSULET CORP [PODD]
EQUITY
45784P101
898
156.12
140,195.76
0.0
BUILDERS FIRSTSOURCE INC [BLDR]
EQUITY
12008R107
2,097
65.50
137,353.50
0.0
CORTEVA INC [CTVA]
EQUITY
22052L104
11,204
12.04
134,896.16
0.0
APTIV PLC [APTV]
EQUITY
G3265R107
3,278
40.85
133,906.30
0.0
MOBILITY GLOBAL INC [MBGL]
EQUITY
60744M106
6,420
19.86
127,501.20
0.0
RYAN SPECIALTY HOLDINGS INC [RYAN]
EQUITY
78351F107
2,143
48.26
103,421.18
0.0
AMER SPORTS INC [AS]
EQUITY
G0260P102
2,748
31.32
86,067.36
0.0
VERSIGENT PLC [VGNT]
EQUITY
G9600F104
1,092
40.28
43,985.76
0.0
Total
--
--
--
--
--
483,145,942.81
99.5
Cash and Other Assets Less Liabilities
--
--
--
--
--
--
0.5
Total Net Assets
--
--
--
--
--
--
100.0

As of 10/31/2026

Sector Breakdown

Information Technology

HAPI

32.1%

Benchmark

32.1%

Communication Services

HAPI

13.2%

Benchmark

13.3%

Financials

HAPI

12.1%

Benchmark

12.1%

Health Care

HAPI

9.5%

Benchmark

9.5%

Industrials

HAPI

9.4%

Benchmark

9.4%

Consumer Discretionary

HAPI

8.8%

Benchmark

8.8%

Consumer Staples

HAPI

6.4%

Benchmark

6.4%

Energy

HAPI

3.9%

Benchmark

3.9%

Utilities

HAPI

1.9%

Benchmark

1.9%

Real Estate

HAPI

1.4%

Benchmark

1.4%

Materials

HAPI

1.1%

Benchmark

1.1%

Non-Energy Materials

HAPI

0.3%

Benchmark

0.3%

Cash

HAPI

<0.1%

Benchmark

0.0%

HAPI: Human Capital Factor US Large Cap ETF

Benchmark: Human Capital Factor Large Cap Total Return 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 Human Capital Factor Large 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 150 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.

Steve Cook

Steve Cook

Chief Operating Officer

Elizabeth Despain

Elizabeth Despain

Associate Index Portfolio Manager

Jim Erceg

Jim Erceg

Head of Product

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.

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. 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.

Companies in the information technology sector can be significantly affected by short product cycles, obsolescence of existing technology, impairment or loss of intellectual property rights, falling prices and profits, competition from new market entrants, government regulation and other factors.

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.

CIBC is a third‑party index provider to the Harbor Human Capital Factors US Large 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.

Alpha is the risk‑adjusted excess return of an investment relative to the return of a benchmark index.