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Harbor Human Capital Factor US Large Cap ETF (HAPI)

Ribbon Description

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

NAV as of 10/16/2026
$46.24
NAV Daily Change
-$0.47 ↓
NAV YTD Return
--
Net Expense Ratio (%)
0.35
Total Net Assets (million) as of 10/16/2026
$509.135
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.

public_companies_icon.png

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

Investment Team

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

Learn More

As of 10/16/2026

$46.24

Price (NAV)

-$0.47

NAV Daily Change ($)

-1.01%

NAV Daily Change (%)

--

NAV YTD Return

As of 10/16/2026

10/12/2022

Inception Date

0.35

Expense Ratio (%)

$509.135

Total Net Assets (million)

10,900,000

Shares Outstanding
(As of 10/16/2026)

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

333,912,186

Implied Liquidity™ (Shares)

$15,596,925,011.83

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 10/15/2026

$46.72

Bid/Ask Mid Price

$46.73

Closing Market Price

$0.01

Premium/Discount ($)

0.01%

Premium/Discount (%)
2025
Q1 2026
Q2 2026
Q3 2026
Q4 2026
YTD
Days Traded at a Premium
66
35
23
43
10
111
Days Traded at a Discount
184
26
39
21
1
87

0.13%

30-Day Median Bid/Ask Spread

915

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 9/30/2026

156

Number of Holdings

1452730.7

Wtd Avg Market Cap ($Mil)

8.24

Price/Book Ratio

28.6

Adjusted Trailing P/E Ratio

31.3

% EPS Growth - Past 3 Yr

22.29

Return on Equity (%)

23.3

Forecasted P/E Ratio

As of 10/15/2026

Company Name [Ticker]
% of Net Assets
MICROSOFT CORP[MSFT]
5.9
APPLE INC[AAPL]
5.9
AMAZON.COM INC[AMZN]
5.6
NVIDIA CORP[NVDA]
5.2
META PLATFORMS INC-CLASS A[META]
5.0
ALPHABET INC-CL A[GOOGL]
5.0
CISCO SYSTEMS INC[CSCO]
3.0
JPMORGAN CHASE & CO[JPM]
3.0
ELI LILLY & CO[LLY]
2.5
NETFLIX INC[NFLX]
2.2
% of Total Holdings:
43.3%

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 10/15/2026

Company Name [Ticker]
Category Name
Country
Cusip
Shares
Current Price ($)
Market Value ($)
% of Net Assets
MICROSOFT CORP [MSFT]
EQUITY
594918104
55,561
539.44
29,971,825.84
5.9
APPLE INC [AAPL]
EQUITY
037833100
87,178
342.00
29,814,876.00
5.9
AMAZON.COM INC [AMZN]
EQUITY
023135106
112,166
254.76
28,575,410.16
5.6
NVIDIA CORP [NVDA]
EQUITY
67066G104
121,977
217.23
26,497,063.71
5.2
META PLATFORMS INC-CLASS A [META]
EQUITY
30303M102
34,887
736.72
25,701,950.64
5.0
ALPHABET INC-CL A [GOOGL]
EQUITY
02079K305
72,936
349.22
25,470,709.92
5.0
CISCO SYSTEMS INC [CSCO]
EQUITY
17275R102
138,212
109.85
15,182,588.20
3.0
JPMORGAN CHASE & CO [JPM]
EQUITY
46625H100
45,011
335.53
15,102,540.83
3.0
ELI LILLY & CO [LLY]
EQUITY
532457108
10,291
1,251.61
12,880,318.51
2.5
NETFLIX INC [NFLX]
EQUITY
64110L106
154,521
72.61
11,219,769.81
2.2
CHEVRON CORP [CVX]
EQUITY
166764100
49,485
219.32
10,853,050.20
2.1
SALESFORCE INC [CRM]
EQUITY
79466L302
35,471
246.74
8,752,114.54
1.7
MASTERCARD INC - A [MA]
EQUITY
57636Q104
13,546
616.32
8,348,670.72
1.6
COSTCO WHOLESALE CORP [COST]
EQUITY
22160K105
7,931
978.01
7,756,597.31
1.5
KLA CORP [KLAC]
EQUITY
482480100
44,119
174.46
7,697,000.74
1.5
PROCTER & GAMBLE CO/THE [PG]
EQUITY
742718109
46,123
157.08
7,245,000.84
1.4
MARVELL TECHNOLOGY INC [MRVL]
EQUITY
573874104
29,582
241.24
7,136,361.68
1.4
JOHNSON & JOHNSON [JNJ]
EQUITY
478160104
27,392
253.28
6,937,845.76
1.4
ARISTA NETWORKS INC [ANET]
EQUITY
040413205
35,404
185.58
6,570,274.32
1.3
PHILIP MORRIS INTERNATIONAL [PM]
EQUITY
718172109
30,928
199.90
6,182,507.20
1.2
LAM RESEARCH CORP [LRCX]
EQUITY
512807306
21,202
277.46
5,882,706.92
1.2
ABBVIE INC [ABBV]
EQUITY
00287Y109
20,743
283.40
5,878,566.20
1.2
SERVICENOW INC [NOW]
EQUITY
81762P102
38,916
148.57
5,781,750.12
1.1
BANK OF AMERICA CORP [BAC]
EQUITY
060505104
105,581
51.70
5,458,537.70
1.1
GENERAL ELECTRIC [GE]
EQUITY
369604301
17,479
312.00
5,453,448.00
1.1
CATERPILLAR INC [CAT]
EQUITY
149123101
6,754
735.64
4,968,512.56
1.0
VERIZON COMMUNICATIONS INC [VZ]
EQUITY
92343V104
107,258
44.40
4,762,255.20
0.9
AUTOMATIC DATA PROCESSING [ADP]
EQUITY
053015103
16,151
285.65
4,613,533.15
0.9
WALT DISNEY CO/THE [DIS]
EQUITY
254687106
37,328
110.68
4,131,463.04
0.8
MERCK & CO. INC. [MRK]
EQUITY
58933Y105
27,660
145.19
4,015,955.40
0.8
GE VERNOVA INC [GEV]
EQUITY
36828A101
4,178
926.44
3,870,666.32
0.8
MORGAN STANLEY [MS]
EQUITY
617446448
21,179
182.10
3,856,695.90
0.8
INTUIT INC [INTU]
EQUITY
461202103
11,626
330.17
3,838,556.42
0.8
PROLOGIS INC [PLD]
EQUITY
74340W103
28,867
126.94
3,664,376.98
0.7
FREEPORT-MCMORAN INC [FCX]
EQUITY
35671D857
51,493
70.06
3,607,599.58
0.7
VALERO ENERGY CORP [VLO]
EQUITY
91913Y100
7,510
444.06
3,334,890.60
0.7
SYNOPSYS INC [SNPS]
EQUITY
871607107
6,742
468.11
3,155,997.62
0.6
CONSTELLATION ENERGY [CEG]
EQUITY
21037T109
11,405
275.00
3,136,375.00
0.6
BOOKING HOLDINGS INC [BKNG]
EQUITY
09857L108
18,852
165.80
3,125,661.60
0.6
SPOTIFY TECHNOLOGY SA [SPOT]
EQUITY
L8681T102
5,824
533.37
3,106,346.88
0.6
EMERSON ELECTRIC CO [EMR]
EQUITY
291011104
19,086
162.15
3,094,794.90
0.6
CADENCE DESIGN SYS INC [CDNS]
EQUITY
127387108
9,219
324.38
2,990,459.22
0.6
AMERICAN EXPRESS CO [AXP]
EQUITY
025816109
9,269
313.87
2,909,261.03
0.6
SCHWAB (CHARLES) CORP [SCHW]
EQUITY
808513105
30,854
94.16
2,905,212.64
0.6
S&P GLOBAL INC [SPGI]
EQUITY
78409V104
6,415
424.81
2,725,156.15
0.5
AMGEN INC [AMGN]
EQUITY
031162100
6,061
434.03
2,630,655.83
0.5
HEWLETT PACKARD ENTERPRISE [HPE]
EQUITY
42824C109
42,781
58.63
2,508,250.03
0.5
EATON CORP PLC [ETN]
EQUITY
G29183103
5,943
402.48
2,391,938.64
0.5
DEERE & CO [DE]
EQUITY
244199105
3,676
650.67
2,391,862.92
0.5
ALTRIA GROUP INC [MO]
EQUITY
02209S103
32,167
73.84
2,375,211.28
0.5
MOTOROLA SOLUTIONS INC [MSI]
EQUITY
620076307
4,967
456.39
2,266,889.13
0.4
NUCOR CORP [NUE]
EQUITY
670346105
8,343
254.69
2,124,878.67
0.4
PROGRESSIVE CORP [PGR]
EQUITY
743315103
9,656
213.75
2,063,970.00
0.4
LOCKHEED MARTIN CORP [LMT]
EQUITY
539830109
3,857
532.64
2,054,392.48
0.4
PFIZER INC [PFE]
EQUITY
717081103
66,480
29.44
1,957,171.20
0.4
AUTODESK INC [ADSK]
EQUITY
052769106
7,983
245.16
1,957,112.28
0.4
PARKER HANNIFIN CORP [PH]
EQUITY
701094104
2,018
961.75
1,940,811.50
0.4
INTUITIVE SURGICAL INC [ISRG]
EQUITY
46120E602
4,513
427.86
1,930,932.18
0.4
KEYSIGHT TECHNOLOGIES IN [KEYS]
EQUITY
49338L103
5,442
342.08
1,861,599.36
0.4
SEMPRA [SRE]
EQUITY
816851109
22,483
81.93
1,842,032.19
0.4
MERCADOLIBRE INC [MELI]
EQUITY
58733R102
986
1,856.98
1,830,982.28
0.4
DIGITAL REALTY TRUST INC [DLR]
EQUITY
253868103
10,380
174.47
1,810,998.60
0.4
CME GROUP INC [CME]
EQUITY
12572Q105
5,560
289.46
1,609,397.60
0.3
MARSH & MCLENNAN COS [MRSH]
EQUITY
571748102
8,617
186.54
1,607,415.18
0.3
MONDELEZ INTERNATIONAL INC-A [MDLZ]
EQUITY
609207105
25,098
63.03
1,581,926.94
0.3
MARRIOTT INTERNATIONAL -CL A [MAR]
EQUITY
571903202
4,089
385.71
1,577,168.19
0.3
TRANE TECHNOLOGIES PLC [TT]
EQUITY
G8994E103
3,411
457.36
1,560,054.96
0.3
SS MATERIALS SELECT SECTOR [XLB]
EQUITY
81369Y100
29,632
50.56
1,498,193.92
0.3
AIRBNB INC-CLASS A [ABNB]
EQUITY
009066101
8,560
174.28
1,491,836.80
0.3
HILTON WORLDWIDE HOLDINGS IN [HLT]
EQUITY
43300A203
4,250
342.98
1,457,665.00
0.3
QUANTA SERVICES INC [PWR]
EQUITY
74762E102
2,268
642.21
1,456,532.28
0.3
COLGATE-PALMOLIVE CO [CL]
EQUITY
194162103
15,682
92.67
1,453,250.94
0.3
TERADYNE INC [TER]
EQUITY
880770102
4,178
343.21
1,433,931.38
0.3
BLACKSTONE INC [BX]
EQUITY
09260D107
13,059
109.20
1,426,042.80
0.3
CSX CORP [CSX]
EQUITY
126408103
29,218
48.69
1,422,624.42
0.3
CIENA CORP [CIEN]
EQUITY
171779309
3,979
356.52
1,418,593.08
0.3
ONEOK INC [OKE]
EQUITY
30609A109
15,484
90.65
1,403,624.60
0.3
CONSOLIDATED EDISON INC [ED]
EQUITY
209115104
12,689
109.86
1,394,013.54
0.3
ROYAL CARIBBEAN CRUISES LTD [RCL]
EQUITY
V7780T103
4,949
280.01
1,385,769.49
0.3
TRAVELERS COS INC/THE [TRV]
EQUITY
89417E109
3,521
383.89
1,351,676.69
0.3
3M CO [MMM]
EQUITY
88579Y101
8,051
165.33
1,331,071.83
0.3
MONSTER BEVERAGE CORP [MNST]
EQUITY
61174X109
28,574
45.34
1,295,545.16
0.3
STRYKER CORP [SYK]
EQUITY
863667101
4,235
293.23
1,241,829.05
0.2
OCCIDENTAL PETROLEUM CORP [OXY]
EQUITY
674599105
20,330
60.67
1,233,421.10
0.2
EBAY INC [EBAY]
EQUITY
278642103
9,796
122.91
1,204,026.36
0.2
CUMMINS INC [CMI]
EQUITY
231021106
2,249
532.73
1,198,109.77
0.2
NORTHROP GRUMMAN CORP [NOC]
EQUITY
666807102
2,392
499.63
1,195,114.96
0.2
SLB LTD [SLB]
EQUITY
806857108
24,320
48.37
1,176,358.40
0.2
HONEYWELL INTERNATIONAL INC [HON]
EQUITY
438516205
5,084
210.50
1,070,182.00
0.2
WW GRAINGER INC [GWW]
EQUITY
384802104
801
1,331.17
1,066,267.17
0.2
ST SR UTL SL SE SPDR ETF-USD [XLU]
EQUITY
81369Y886
23,948
41.65
997,434.20
0.2
HP INC [HPQ]
EQUITY
40434L105
32,310
30.85
996,763.50
0.2
BOSTON SCIENTIFIC CORP [BSX]
EQUITY
101137107
22,571
44.14
996,283.94
0.2
AON PLC-CLASS A [AON]
EQUITY
G0403H108
3,429
286.80
983,437.20
0.2
FORD MOTOR CO [F]
EQUITY
345370860
79,678
12.31
980,836.18
0.2
UNITED RENTALS INC [URI]
EQUITY
911363109
936
1,047.58
980,534.88
0.2
METLIFE INC [MET]
EQUITY
59156R108
9,221
100.27
924,589.67
0.2
CREDO TECHNOLOGY GROUP HOLDI [CRDO]
EQUITY
G25457105
5,150
178.50
919,275.00
0.2
P G & E CORP [PCG]
EQUITY
69331C108
69,990
12.96
907,070.40
0.2
REGENERON PHARMACEUTICALS [REGN]
EQUITY
75886F107
1,129
796.34
899,067.86
0.2
NIKE INC -CL B [NKE]
EQUITY
654106103
23,869
37.14
886,494.66
0.2
REDDIT INC-CL A [RDDT]
EQUITY
75734B100
5,562
159.36
886,360.32
0.2
EXPEDIA GROUP INC [EXPE]
EQUITY
30212P303
2,846
291.87
830,662.02
0.2
HONEYWELL AEROSPACE INC [HONA]
EQUITY
43849R105
5,084
163.11
829,251.24
0.2
DELTA AIR LINES INC [DAL]
EQUITY
247361702
10,566
78.08
824,993.28
0.2
VYLOR INC [VYLR]
EQUITY
92892R108
11,195
73.34
821,041.30
0.2
MSCI INC [MSCI]
EQUITY
55354G100
1,408
575.09
809,726.72
0.2
NASDAQ INC [NDAQ]
EQUITY
631103108
8,483
93.50
793,160.50
0.2
IQVIA HOLDINGS INC [IQV]
EQUITY
46266C105
2,837
271.04
768,940.48
0.2
NATERA INC [NTRA]
EQUITY
632307104
1,780
404.79
720,526.20
0.1
PRUDENTIAL FINANCIAL INC [PRU]
EQUITY
744320102
6,065
116.35
705,662.75
0.1
EDISON INTERNATIONAL [EIX]
EQUITY
281020107
12,597
55.65
701,023.05
0.1
VIVMARK RESIDENTIAL [VMRK]
EQUITY
29476L107
11,151
61.18
682,218.18
0.1
DR HORTON INC [DHI]
EQUITY
23331A109
4,858
139.55
677,933.90
0.1
PINTEREST INC- CLASS A [PINS]
EQUITY
72352L106
29,415
22.71
668,014.65
0.1
EDWARDS LIFESCIENCES CORP [EW]
EQUITY
28176E108
7,548
88.10
664,978.80
0.1
KIMBERLY-CLARK CORP [KMB]
EQUITY
494368103
6,282
104.07
653,767.74
0.1
DUPONT DE NEMOURS INC [DD]
EQUITY
26614N201
4,574
131.60
601,938.40
0.1
AXON ENTERPRISE INC [AXON]
EQUITY
05464C101
1,413
417.19
589,489.47
0.1
JACOBS SOLUTIONS INC [J]
EQUITY
46982L108
4,136
141.97
587,187.92
0.1
HARTFORD INSURANCE GROUP INC [HIG]
EQUITY
416515104
4,349
132.81
577,590.69
0.1
ARCH CAPITAL GROUP LTD [ACGL]
EQUITY
G0450A105
5,669
99.31
562,988.39
0.1
DOLLAR GENERAL CORP [DG]
EQUITY
256677105
3,957
133.89
529,802.73
0.1
TRIMBLE INC [TRMB]
EQUITY
896239100
8,290
60.97
505,441.30
0.1
INVITATION HOMES INC [INVH]
EQUITY
46187W107
18,822
26.80
504,429.60
0.1
CBOE GLOBAL MARKETS INC [CBOE]
EQUITY
12503M108
1,631
308.09
502,494.79
0.1
SYNCHRONY FINANCIAL [SYF]
EQUITY
87165B103
6,136
74.04
454,309.44
0.1
RESMED INC [RMD]
EQUITY
761152107
1,798
242.23
435,529.54
0.1
ZOETIS INC [ZTS]
EQUITY
98978V103
5,325
78.42
417,586.50
0.1
PRINCIPAL FINANCIAL GROUP [PFG]
EQUITY
74251V102
3,787
108.96
412,631.52
0.1
CINCINNATI FINANCIAL CORP [CINF]
EQUITY
172062101
2,465
167.22
412,197.30
0.1
PULTEGROUP INC [PHM]
EQUITY
745867101
3,564
112.99
402,696.36
0.1
ALNYLAM PHARMACEUTICALS INC [ALNY]
EQUITY
02043Q107
1,712
234.03
400,659.36
0.1
GE HEALTHCARE TECHNOLOGY [GEHC]
EQUITY
36266G107
5,471
70.35
384,884.85
0.1
MARKEL GROUP INC [MKL]
EQUITY
570535104
201
1,824.54
366,732.54
0.1
GENERAL MILLS INC [GIS]
EQUITY
370334104
10,584
32.88
348,001.92
0.1
SOFI TECHNOLOGIES INC [SOFI]
EQUITY
83406F102
22,327
15.09
336,914.43
0.1
EQUIFAX INC [EFX]
EQUITY
294429105
2,083
161.26
335,904.58
0.1
BROWN & BROWN INC [BRO]
EQUITY
115236101
4,895
67.98
332,762.10
0.1
HEICO CORP-CLASS A [HEI/A]
EQUITY
422806208
1,298
231.34
300,279.32
0.1
LOEWS CORP [L]
EQUITY
540424108
2,696
108.79
293,297.84
0.1
STERIS PLC [STE]
EQUITY
G8473T100
1,267
224.33
284,226.11
0.1
TEXAS PACIFIC LAND CORP [TPL]
EQUITY
88262P102
739
346.52
256,078.28
0.1
TRADE DESK INC/THE -CLASS A [TTD]
EQUITY
88339J105
17,806
13.13
233,792.78
0.0
DRAFTKINGS INC-CL A [DKNG]
EQUITY
26142V105
11,746
19.31
226,815.26
0.0
INCYTE CORP [INCY]
EQUITY
45337C102
1,977
113.27
223,934.79
0.0
LULULEMON ATHLETICA INC [LULU]
EQUITY
550021109
2,126
99.09
210,665.34
0.0
TRADEWEB MARKETS INC-CLASS A [TW]
EQUITY
892672106
1,719
112.00
192,528.00
0.0
LENNOX INTERNATIONAL INC [LII]
EQUITY
526107107
462
358.50
165,627.00
0.0
APTIV PLC [APTV]
EQUITY
G3265R107
3,275
45.19
147,997.25
0.0
CORTEVA INC [CTVA]
EQUITY
22052L104
11,195
12.88
144,191.60
0.0
INSULET CORP [PODD]
EQUITY
45784P101
897
138.77
124,476.69
0.0
MOBILITY GLOBAL INC [MBGL]
EQUITY
60744M106
6,415
18.72
120,088.80
0.0
BUILDERS FIRSTSOURCE INC [BLDR]
EQUITY
12008R107
2,095
53.68
112,459.60
0.0
RYAN SPECIALTY HOLDINGS INC [RYAN]
EQUITY
78351F107
2,141
40.04
85,725.64
0.0
AMER SPORTS INC [AS]
EQUITY
G0260P102
2,746
29.94
82,215.24
0.0
VERSIGENT PLC [VGNT]
EQUITY
G9600F104
1,091
43.71
47,687.61
0.0
Total
--
--
--
--
--
508,410,897.74
100.4
Cash and Other Assets Less Liabilities
--
--
--
--
--
--
-0.4
Total Net Assets
--
--
--
--
--
--
100.0

As of 9/30/2026

Sector Breakdown

Information Technology

HAPI

33.6%

Benchmark

33.7%

Communication Services

HAPI

14.9%

Benchmark

14.9%

Financials

HAPI

11.3%

Benchmark

11.3%

Industrials

HAPI

9.3%

Benchmark

9.3%

Consumer Discretionary

HAPI

8.7%

Benchmark

8.8%

Health Care

HAPI

8.5%

Benchmark

8.5%

Consumer Staples

HAPI

5.5%

Benchmark

5.5%

Energy

HAPI

3.4%

Benchmark

3.4%

Utilities

HAPI

1.7%

Benchmark

1.7%

Real Estate

HAPI

1.4%

Benchmark

1.4%

Materials

HAPI

1.3%

Benchmark

1.3%

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.