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Harbor Corporate Culture ETF (HAPI)

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

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Overview
Performance
Holdings
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Welcome

Research Suggests That Doing the Right Thing Pays.

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? It’s a systematic measure of corporate culture that seeks to deeply understand the importance and value created between human capital and potential equity performance. In other words, the Human Capital Factor is based on the premise that happy and motivated employees can generate better outcomes for companies and investors.

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


headshot

Dan Ariely

Behavioral Economist, Co-Founder, Irrational Capital

left quote

Of all the investments companies make, creating a strong corporate culture is one of the best ways to create value. This is why employee behavior and motivation can be such an important element of stock market performance.

right quote
BE HAPI

assets0
assets0M+

assets0M+

The above figures represent Irrational Capital’s full data set. A subset of this data is used in constructing HAPI. Source: Irrational Capital. As of 3/31/2023.

Differentiated Research that Seeks to Uncover Alpha
  • Irrational Capital looks to identify companies with strong employer/employee relationships.
  • The Human Capital Factor seeks to deeply understand company culture and intrinsic employee motivation as a potential driver of stock performance.
  • Focused on capturing and investing in the benefits that strong corporate culture may have on a company's stock price.
employees_icon.png
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.

data_points_icon.png
Backed by Data.

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

Overview

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

Current Price

Current Price

As of 6/2/2023

$25.12

Price (NAV)

$0.37

NAV Daily Change ($)

1.49%

NAV Daily Change (%)

15.65%

NAV YTD Return

$25.12

Market Price

$0.39

Market Daily Change ($)

1.58%

Market Daily Change (%)

15.65%

Market YTD Return

Fund Facts

As of 6/2/2023

10/12/2022

Inception Date

0.36

Expense Ratio (%)
disclaimer

$249.32

Total Net Assets (million)

9,925,000

Shares Outstanding
(As of 6/5/2023)

HAPI

Ticker

41151J604

Cusip

NYSE

Exchange

US41151J8779

ISIN

Foreside Fund Services, LLC

Distributor
disclaimer

Annually

Dividend Frequency

Large Blend

Morningstar Category

CIBC Human Capital Index

Benchmark

Investment Objective:

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

Morningstar Medalist Rating™

Morningstar Bronze
Analyst-Driven %
10
Data Coverage %
77
As of 3/31/2023

Pricing/Trading

As of 6/2/2023

$25.12

Bid/Ask Mid Price

$25.12

Closing Market Price

-$0.00

Premium/Discount ($)

0.00%

Premium/Discount (%)

0.16%

30-Day Median Bid/Ask Spread

301

Exchange Volume (Shares)

USD

Trading Currency

Historical Premium Discount to NAV

left quote

"Of all the investments companies make, creating a strong corporate culture is one of the best ways to create value. This is why employee behavior and motivation can be such an important element of stock market performance."

Dan Ariely

Behavioral Economist, Co-Founder, Irrational Capital

right quote

Performance

Total Returns

Quarter-End

Fund Name

3 Mo.

YTD Return

Since Inception

Net Expense Ratio

Gross Expense Ratio

Corporate Culture ETF

9.02%

9.02%

18.98%

0.36%disclaimer

0.36%

Fund Market Price

8.98%

8.98%

18.93%

--

--

CIBC Human Capital Index

8.97%

8.97%

19.03%

--

--

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 CIBC Human Capital 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.

Price History

Chart

Ex-Date

Record Date

Payable Date

Ordinary Income

Short Term Capital Gains

Long Term Capital Gains

Total Distribution

12/21/2022

12/22/2022

12/27/2022

0.06304

0.00056

--

0.06360

Holdings

Portfolio Characteristics

As of 4/30/2023

154

Number of Holdings

154

Number of Holdings

521260.7

Wtd Avg Market Cap ($Mil)

521260.7

Wtd Avg Market Cap ($Mil)

6

Price/Book Ratio

6

Price/Book Ratio

28.8

Adjusted Trailing P/E Ratio

28.8

Adjusted Trailing P/E Ratio

24.5

% EPS Growth - Past 3 Yr

24.5

% EPS Growth - Past 3 Yr

23.62

Return on Equity (%)

23.62

Return on Equity (%)

21.2

Forecasted P/E Ratio

21.2

Forecasted P/E Ratio

Top Ten Holdings

As of 6/1/2023

Company Name [Ticker]

% of Net Assets

MICROSOFT CORP COMMON STOCK USD.00000625[MSFT]

5.9

APPLE INC COMMON STOCK USD.00001[AAPL]

5.5

NVIDIA CORP COMMON STOCK USD.001[NVDA]

4.1

ALPHABET INC CL A COMMON STOCK USD.001[GOOGL]

3.8

ALPHABET INC CL C COMMON STOCK USD.001[GOOG]

3.4

MASTERCARD INC A COMMON STOCK USD.0001[MA]

3.1

JOHNSON + JOHNSON COMMON STOCK USD1.0[JNJ]

2.9

BERKSHIRE HATHAWAY INC CL B COMMON STOCK USD.0033[BRK.B]

2.7

ELI LILLY + CO COMMON STOCK[LLY]

2.6

META PLATFORMS INC CLASS A COMMON STOCK USD.000006[META]

2.6

% of Total Holdings:

36.6%

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 6/1/2023

Company Name [Ticker]

Category Name

Country

Cusip

Shares

Current Price ($)

Market Value ($)

% of Net Assets

MICROSOFT CORP COMMON STOCK USD.00000625 [MSFT]

Equity

594918104

43,578

332.58

14,493,171.24

5.9

APPLE INC COMMON STOCK USD.00001 [AAPL]

Equity

037833100

75,223

180.09

13,546,910.07

5.5

NVIDIA CORP COMMON STOCK USD.001 [NVDA]

Equity

67066G104

25,325

397.70

10,071,752.50

4.1

ALPHABET INC CL A COMMON STOCK USD.001 [GOOGL]

Equity

02079K305

75,090

123.72

9,290,134.80

3.8

ALPHABET INC CL C COMMON STOCK USD.001 [GOOG]

Equity

02079K107

67,988

124.37

8,455,667.56

3.4

MASTERCARD INC A COMMON STOCK USD.0001 [MA]

Equity

57636Q104

20,663

370.88

7,663,493.44

3.1

JOHNSON + JOHNSON COMMON STOCK USD1.0 [JNJ]

Equity

478160104

45,835

154.54

7,083,340.90

2.9

BERKSHIRE HATHAWAY INC CL B COMMON STOCK USD.0033 [BRK.B]

Equity

084670702

20,437

323.12

6,603,603.44

2.7

ELI LILLY + CO COMMON STOCK [LLY]

Equity

532457108

14,704

436.49

6,418,148.96

2.6

META PLATFORMS INC CLASS A COMMON STOCK USD.000006 [META]

Equity

30303M102

23,486

272.61

6,402,518.46

2.6

PROCTER + GAMBLE CO/THE COMMON STOCK [PG]

Equity

742718109

38,320

143.96

5,516,547.20

2.2

CHEVRON CORP COMMON STOCK USD.75 [CVX]

Equity

166764100

34,888

152.16

5,308,558.08

2.2

MERCK + CO. INC. COMMON STOCK USD.5 [MRK]

Equity

58933Y105

42,791

110.93

4,746,805.63

1.9

PFIZER INC COMMON STOCK USD.05 [PFE]

Equity

717081103

97,660

38.02

3,713,033.20

1.5

BOOKING HOLDINGS INC COMMON STOCK USD.008 [BKNG]

Equity

09857L108

1,301

2,550.00

3,317,550.00

1.4

HONEYWELL INTERNATIONAL INC COMMON STOCK USD1.0 [HON]

Equity

438516106

16,860

193.86

3,268,479.60

1.3

BANK OF AMERICA CORP COMMON STOCK USD.01 [BAC]

Equity

060505104

109,799

27.78

3,050,216.22

1.2

UNITED PARCEL SERVICE CL B COMMON STOCK USD.01 [UPS]

Equity

911312106

17,466

167.83

2,931,318.78

1.2

LOCKHEED MARTIN CORP COMMON STOCK USD1.0 [LMT]

Equity

539830109

6,149

449.67

2,765,020.83

1.1

SALESFORCE INC COMMON STOCK USD.001 [CRM]

Equity

79466L302

11,787

212.90

2,509,452.30

1.0

CONOCOPHILLIPS COMMON STOCK USD.01 [COP]

Equity

20825C104

24,615

99.53

2,449,930.95

1.0

BOSTON SCIENTIFIC CORP COMMON STOCK USD.01 [BSX]

Equity

101137107

47,228

51.50

2,432,242.00

1.0

DEERE + CO COMMON STOCK USD1.0 [DE]

Equity

244199105

6,849

352.57

2,414,751.93

1.0

ADOBE INC COMMON STOCK USD.0001 [ADBE]

Equity

00724F101

5,584

426.75

2,382,972.00

1.0

PHILIP MORRIS INTERNATIONAL COMMON STOCK [PM]

Equity

718172109

25,017

90.16

2,255,532.72

0.9

PROLOGIS INC REIT USD.01 [PLD]

Equity

74340W103

17,474

122.64

2,143,011.36

0.9

NETFLIX INC COMMON STOCK USD.001 [NFLX]

Equity

64110L106

5,297

403.13

2,135,379.61

0.9

ADVANCED MICRO DEVICES COMMON STOCK USD.01 [AMD]

Equity

007903107

17,560

119.47

2,097,893.20

0.9

AMGEN INC COMMON STOCK USD.0001 [AMGN]

Equity

031162100

9,635

214.27

2,064,491.45

0.8

NIKE INC CL B COMMON STOCK [NKE]

Equity

654106103

19,581

103.29

2,022,521.49

0.8

S+P GLOBAL INC COMMON STOCK USD1.0 [SPGI]

Equity

78409V104

5,369

368.99

1,981,107.31

0.8

INTUITIVE SURGICAL INC COMMON STOCK USD.001 [ISRG]

Equity

46120E602

6,168

310.54

1,915,410.72

0.8

GOLDMAN SACHS GROUP INC COMMON STOCK USD.01 [GS]

Equity

38141G104

5,246

316.40

1,659,834.40

0.7

MORGAN STANLEY COMMON STOCK USD.01 [MS]

Equity

617446448

20,162

82.07

1,654,695.34

0.7

MARRIOTT INTERNATIONAL CL A COMMON STOCK USD.01 [MAR]

Equity

571903202

9,324

171.14

1,595,709.36

0.6

MONDELEZ INTERNATIONAL INC A COMMON STOCK [MDLZ]

Equity

609207105

21,404

73.61

1,575,548.44

0.6

SCHLUMBERGER LTD COMMON STOCK USD.01 [SLB]

Equity

806857108

34,909

44.98

1,570,206.82

0.6

VERTEX PHARMACEUTICALS INC COMMON STOCK USD.01 [VRTX]

Equity

92532F100

4,810

323.62

1,556,612.20

0.6

INTEL CORP COMMON STOCK USD.001 [INTC]

Equity

458140100

49,718

31.13

1,547,721.34

0.6

BLACKROCK INC COMMON STOCK USD.01 [BLK]

Equity

09247X101

2,288

668.84

1,530,305.92

0.6

SOUTHERN CO/THE COMMON STOCK USD5.0 [SO]

Equity

842587107

21,640

69.18

1,497,055.20

0.6

INTL BUSINESS MACHINES CORP COMMON STOCK USD.2 [IBM]

Equity

459200101

10,994

129.82

1,427,241.08

0.6

INTUIT INC COMMON STOCK USD.01 [INTU]

Equity

461202103

3,374

422.12

1,424,232.88

0.6

NORTHROP GRUMMAN CORP COMMON STOCK USD1.0 [NOC]

Equity

666807102

3,235

438.51

1,418,579.85

0.6

AMERICAN EXPRESS CO COMMON STOCK USD.2 [AXP]

Equity

025816109

8,391

162.72

1,365,383.52

0.6

SERVICENOW INC COMMON STOCK USD.001 [NOW]

Equity

81762P102

2,446

542.96

1,328,080.16

0.5

REGENERON PHARMACEUTICALS COMMON STOCK USD.001 [REGN]

Equity

75886F107

1,805

731.17

1,319,761.85

0.5

EQUINIX INC REIT USD.001 [EQIX]

Equity

29444U700

1,734

753.26

1,306,152.84

0.5

LULULEMON ATHLETICA INC COMMON STOCK USD.005 [LULU]

Equity

550021109

3,918

328.35

1,286,475.30

0.5

SCHWAB (CHARLES) CORP COMMON STOCK USD.01 [SCHW]

Equity

808513105

22,887

52.70

1,206,144.90

0.5

ALTRIA GROUP INC COMMON STOCK USD.333 [MO]

Equity

02209S103

26,645

44.58

1,187,834.10

0.5

PROGRESSIVE CORP COMMON STOCK USD1.0 [PGR]

Equity

743315103

8,815

128.33

1,131,228.95

0.5

AIRBNB INC CLASS A COMMON STOCK USD.0001 [ABNB]

Equity

009066101

9,986

112.16

1,120,029.76

0.5

COLGATE PALMOLIVE CO COMMON STOCK USD1.0 [CL]

Equity

194162103

13,381

74.90

1,002,236.90

0.4

CORTEVA INC COMMON STOCK USD.01 [CTVA]

Equity

22052L104

17,353

53.86

934,632.58

0.4

NEWMONT CORP COMMON STOCK USD1.6 [NEM]

Equity

651639106

21,003

42.47

891,997.41

0.4

AMERICAN ELECTRIC POWER COMMON STOCK USD6.5 [AEP]

Equity

025537101

10,724

82.02

879,582.48

0.4

PIONEER NATURAL RESOURCES CO COMMON STOCK USD.01 [PXD]

Equity

723787107

4,127

200.80

828,701.60

0.3

PUBLIC STORAGE REIT USD.1 [PSA]

Equity

74460D109

2,890

283.43

819,112.70

0.3

GENERAL MILLS INC COMMON STOCK USD.1 [GIS]

Equity

370334104

9,683

83.89

812,306.87

0.3

DOW INC COMMON STOCK USD.01 [DOW]

Equity

260557103

16,564

49.00

811,636.00

0.3

EBAY INC COMMON STOCK USD.001 [EBAY]

Equity

278642103

18,632

43.26

806,020.32

0.3

NUCOR CORP COMMON STOCK USD.4 [NUE]

Equity

670346105

6,035

133.03

802,836.05

0.3

SYNOPSYS INC COMMON STOCK USD.01 [SNPS]

Equity

871607107

1,753

454.55

796,826.15

0.3

FORD MOTOR CO COMMON STOCK USD.01 [F]

Equity

345370860

65,534

12.11

793,616.74

0.3

EXELON CORP COMMON STOCK [EXC]

Equity

30161N101

19,696

39.48

777,598.08

0.3

KIMBERLY CLARK CORP COMMON STOCK USD1.25 [KMB]

Equity

494368103

5,379

133.93

720,409.47

0.3

PALO ALTO NETWORKS INC COMMON STOCK USD.0001 [PANW]

Equity

697435105

3,257

216.79

706,085.03

0.3

CADENCE DESIGN SYS INC COMMON STOCK USD.01 [CDNS]

Equity

127387108

3,028

232.39

703,676.92

0.3

DUPONT DE NEMOURS INC COMMON STOCK USD.01 [DD]

Equity

26614N102

10,332

67.44

696,790.08

0.3

CUMMINS INC COMMON STOCK USD2.5 [CMI]

Equity

231021106

3,345

206.86

691,946.70

0.3

CONSOLIDATED EDISON INC COMMON STOCK USD.1 [ED]

Equity

209115104

7,496

91.82

688,282.72

0.3

HESS CORP COMMON STOCK USD1.0 [HES]

Equity

42809H107

5,138

129.05

663,058.90

0.3

TRAVELERS COS INC/THE COMMON STOCK NPV [TRV]

Equity

89417E109

3,835

171.30

656,935.50

0.3

IQVIA HOLDINGS INC COMMON STOCK USD.01 [IQV]

Equity

46266C105

3,164

198.97

629,541.08

0.3

MARVELL TECHNOLOGY INC COMMON STOCK USD.002 [MRVL]

Equity

573874104

9,759

61.10

596,274.90

0.2

AGILENT TECHNOLOGIES INC COMMON STOCK USD.01 [A]

Equity

00846U101

5,097

116.26

592,577.22

0.2

QUANTA SERVICES INC COMMON STOCK USD.00001 [PWR]

Equity

74762E102

3,344

176.05

588,711.20

0.2

RESMED INC COMMON STOCK USD.004 [RMD]

Equity

761152107

2,644

218.69

578,216.36

0.2

DIGITAL REALTY TRUST INC REIT USD.01 [DLR]

Equity

253868103

5,472

104.78

573,356.16

0.2

CONSTELLATION BRANDS INC A COMMON STOCK USD.01 [STZ]

Equity

21036P108

2,341

242.70

568,160.70

0.2

KKR + CO INC COMMON STOCK USD.01 [KKR]

Equity

48251W104

10,805

52.43

566,506.15

0.2

DELTA AIR LINES INC COMMON STOCK USD.0001 [DAL]

Equity

247361702

15,416

36.38

560,834.08

0.2

P G + E CORP COMMON STOCK [PCG]

Equity

69331C108

32,721

16.56

541,859.76

0.2

ILLUMINA INC COMMON STOCK USD.01 [ILMN]

Equity

452327109

2,694

199.09

536,348.46

0.2

EDISON INTERNATIONAL COMMON STOCK [EIX]

Equity

281020107

7,860

66.68

524,104.80

0.2

AUTODESK INC COMMON STOCK USD.01 [ADSK]

Equity

052769106

2,502

203.30

508,656.60

0.2

WORKDAY INC CLASS A COMMON STOCK USD.001 [WDAY]

Equity

98138H101

2,325

215.31

500,595.75

0.2

SNOWFLAKE INC CLASS A COMMON STOCK [SNOW]

Equity

833445109

2,965

167.28

495,985.20

0.2

EXPEDIA GROUP INC COMMON STOCK USD.001 [EXPE]

Equity

30212P303

5,015

98.66

494,779.90

0.2

ELECTRONIC ARTS INC COMMON STOCK USD.01 [EA]

Equity

285512109

3,874

127.69

494,671.06

0.2

FORTINET INC COMMON STOCK USD.001 [FTNT]

Equity

34959E109

6,927

68.64

475,469.28

0.2

GE HEALTHCARE TECHNOLOGY COMMON STOCK [GEHC]

Equity

36266G107

5,952

79.83

475,148.16

0.2

SBA COMMUNICATIONS CORP REIT USD.01 [SBAC]

Equity

78410G104

2,067

220.69

456,166.23

0.2

ONEOK INC COMMON STOCK USD.01 [OKE]

Equity

682680103

7,731

56.91

439,971.21

0.2

DTE ENERGY COMPANY COMMON STOCK [DTE]

Equity

233331107

3,965

107.26

425,285.90

0.2

ARISTA NETWORKS INC COMMON STOCK USD.0001 [ANET]

Equity

040413106

2,544

166.68

424,033.92

0.2

MSCI INC COMMON STOCK USD.01 [MSCI]

Equity

55354G100

904

466.97

422,140.88

0.2

SOUTHWEST AIRLINES CO COMMON STOCK USD1.0 [LUV]

Equity

844741108

14,319

29.11

416,826.09

0.2

OMNICOM GROUP COMMON STOCK USD.15 [OMC]

Equity

681919106

4,540

89.30

405,422.00

0.2

ALNYLAM PHARMACEUTICALS INC COMMON STOCK USD.01 [ALNY]

Equity

02043Q107

2,098

188.67

395,829.66

0.2

PPL CORP COMMON STOCK USD.01 [PPL]

Equity

69351T106

15,046

26.10

392,700.60

0.2

VMWARE INC CLASS A W/I COMMON STOCK USD.01 [VMW]

Equity

928563402

2,891

133.94

387,220.54

0.2

ARCH CAPITAL GROUP LTD COMMON STOCK USD.01 [ACGL]

Equity

G0450A105

5,304

69.67

369,529.68

0.2

UNITED AIRLINES HOLDINGS INC COMMON STOCK USD.01 [UAL]

Equity

910047109

7,733

47.41

366,621.53

0.1

CROWDSTRIKE HOLDINGS INC A COMMON STOCK [CRWD]

Equity

22788C105

2,310

157.55

363,940.50

0.1

HP INC COMMON STOCK USD.01 [HPQ]

Equity

40434L105

11,817

29.42

347,656.14

0.1

HARTFORD FINANCIAL SVCS GRP COMMON STOCK USD.01 [HIG]

Equity

416515104

5,039

68.89

347,136.71

0.1

ETSY INC COMMON STOCK USD.001 [ETSY]

Equity

29786A106

4,163

81.99

341,324.37

0.1

JACOBS SOLUTIONS INC COMMON STOCK [J]

Equity

46982L108

3,054

110.82

338,444.28

0.1

VEEVA SYSTEMS INC CLASS A COMMON STOCK USD.00001 [VEEV]

Equity

922475108

1,687

198.30

334,532.10

0.1

ANSYS INC COMMON STOCK USD.01 [ANSS]

Equity

03662Q105

1,032

323.24

333,583.68

0.1

ATMOS ENERGY CORP COMMON STOCK [ATO]

Equity

049560105

2,858

112.07

320,296.06

0.1

TRADE DESK INC/THE CLASS A COMMON STOCK USD.000001 [TTD]

Equity

88339J105

4,235

73.26

310,256.10

0.1

BROWN FORMAN CORP CLASS B COMMON STOCK USD.15 [BF.B]

Equity

115637209

4,893

61.81

302,436.33

0.1

NASDAQ INC COMMON STOCK USD.01 [NDAQ]

Equity

631103108

5,459

55.03

300,408.77

0.1

ALIGN TECHNOLOGY INC COMMON STOCK USD.0001 [ALGN]

Equity

016255101

1,008

297.20

299,577.60

0.1

BIOMARIN PHARMACEUTICAL INC COMMON STOCK USD.001 [BMRN]

Equity

09061G101

3,358

88.26

296,377.08

0.1

ATLASSIAN CORP CL A COMMON STOCK USD.00001 [TEAM]

Equity

049468101

1,540

177.26

272,980.40

0.1

AES CORP COMMON STOCK USD.01 [AES]

Equity

00130H105

13,699

19.88

272,336.12

0.1

PRINCIPAL FINANCIAL GROUP COMMON STOCK USD.01 [PFG]

Equity

74251V102

3,923

66.98

262,762.54

0.1

ESSEX PROPERTY TRUST INC REIT USD.0001 [ESS]

Equity

297178105

1,142

219.17

250,292.14

0.1

SYNCHRONY FINANCIAL COMMON STOCK USD.001 [SYF]

Equity

87165B103

7,615

31.55

240,253.25

0.1

PALANTIR TECHNOLOGIES INC A COMMON STOCK USD.001 [PLTR]

Equity

69608A108

16,361

14.54

237,888.94

0.1

HEWLETT PACKARD ENTERPRISE COMMON STOCK USD.01 [HPE]

Equity

42824C109

15,331

14.67

224,905.77

0.1

EQT CORP COMMON STOCK [EQT]

Equity

26884L109

6,357

35.10

223,130.70

0.1

TRANSUNION COMMON STOCK USD.01 [TRU]

Equity

89400J107

3,014

72.81

219,449.34

0.1

MONGODB INC COMMON STOCK USD.001 [MDB]

Equity

60937P106

744

293.96

218,706.24

0.1

CINCINNATI FINANCIAL CORP COMMON STOCK USD2.0 [CINF]

Equity

172062101

2,179

97.15

211,689.85

0.1

CAMDEN PROPERTY TRUST REIT USD.01 [CPT]

Equity

133131102

2,009

104.62

210,181.58

0.1

INCYTE CORP COMMON STOCK USD.001 [INCY]

Equity

45337C102

3,401

61.51

209,195.51

0.1

ARES MANAGEMENT CORP A COMMON STOCK [ARES]

Equity

03990B101

2,369

88.00

208,472.00

0.1

SPOTIFY TECHNOLOGY SA COMMON STOCK EUR.000625 [SPOT]

Equity

L8681T102

1,279

153.92

196,863.68

0.1

TERADYNE INC COMMON STOCK USD.125 [TER]

Equity

880770102

1,804

103.10

185,992.40

0.1

FACTSET RESEARCH SYSTEMS INC COMMON STOCK USD.01 [FDS]

Equity

303075105

452

390.29

176,411.08

0.1

PINTEREST INC CLASS A COMMON STOCK USD.00001 [PINS]

Equity

72352L106

7,408

23.61

174,902.88

0.1

ZOOM VIDEO COMMUNICATIONS A COMMON STOCK USD.001 [ZM]

Equity

98980L101

2,551

67.83

173,034.33

0.1

EPAM SYSTEMS INC COMMON STOCK USD.001 [EPAM]

Equity

29414B104

624

257.94

160,954.56

0.1

MATCH GROUP INC COMMON STOCK USD.001 [MTCH]

Equity

57667L107

4,142

38.02

157,478.84

0.1

TRIMBLE INC COMMON STOCK USD.001 [TRMB]

Equity

896239100

3,141

48.03

150,862.23

0.1

ROBLOX CORP CLASS A COMMON STOCK USD.0001 [RBLX]

Equity

771049103

3,466

42.13

146,022.58

0.1

SNAP INC A COMMON STOCK USD.00001 [SNAP]

Equity

83304A106

13,241

10.33

136,779.53

0.1

TWILIO INC A COMMON STOCK USD.001 [TWLO]

Equity

90138F102

1,974

67.30

132,850.20

0.1

ZSCALER INC COMMON STOCK USD.001 [ZS]

Equity

98980G102

918

135.09

124,012.62

0.1

TRADEWEB MARKETS INC CLASS A COMMON STOCK USD.01 [TW]

Equity

892672106

1,651

68.00

112,268.00

0.0

FRANKLIN RESOURCES INC COMMON STOCK USD.1 [BEN]

Equity

354613101

4,400

24.42

107,448.00

0.0

VF CORP COMMON STOCK [VFC]

Equity

918204108

6,103

17.02

103,873.06

0.0

ZOOMINFO TECHNOLOGIES INC COMMON STOCK [ZI]

Equity

98980F104

3,597

25.91

93,198.27

0.0

UNITY SOFTWARE INC COMMON STOCK USD.000005 [U]

Equity

91332U101

2,146

30.12

64,637.52

0.0

BROWN FORMAN CORP CLASS A COMMON STOCK USD.15 [BF.A]

Equity

115637100

780

63.17

49,272.60

0.0

Total

--

--

--

--

--

224,793

91.2

Cash and Other Assets Less Liabilities

--

--

--

--

--

--

8.8

Total Net Assets

--

--

--

--

--

--

100%

As of 4/30/2023

Corporate Culture ETF (HAPI)

CIBC Human Capital Index

-

Information Technology

HAPI: 21.7%

Benchmark: 21.8%

-

Health Care

HAPI: 15.2%

Benchmark: 15.1%

-

Financials

HAPI: 13.7%

Benchmark: 13.7%

-

Communication Services

HAPI: 12.4%

Benchmark: 12.5%

-

Consumer Discretionary

HAPI: 11.2%

Benchmark: 11.4%

-

Industrials

HAPI: 7.0%

Benchmark: 7.0%

-

Consumer Staples

HAPI: 6.2%

Benchmark: 6.2%

-

Energy

HAPI: 5.2%

Benchmark: 5.1%

-

Utilities

HAPI: 2.9%

Benchmark: 2.9%

-

Real Estate

HAPI: 2.4%

Benchmark: 2.4%

-

Materials

HAPI: 1.9%

Benchmark: 1.9%

HAPI: Corporate Culture ETF

Benchmark: CIBC Human Capital 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 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.


Documents

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.

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 Corporate Culture 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 refers to excess returns earned on an investment.

The Morningstar Medalist Ratings are shown for funds that have received a rating of Gold, Silver, or Bronze The funds shown without Medalist Ratings may not have received a Medalist Rating or may have received lower ratings.

The Morningstar Medalist Rating™ is the summary expression of Morningstar’s forward-looking analysis of investment strategies as offered via specific vehicles using a rating scale of Gold, Silver, Bronze, Neutral, and Negative. The Medalist Ratings indicate which investments Morningstar believes are likely to outperform a relevant index or peer group average on a risk-adjusted basis over time. Investment products are evaluated on three key pillars (People, Parent, and Process) which, when coupled with a fee assessment, forms the basis for Morningstar’s conviction in those products’ investment merits and determines the Medalist Rating they’re assigned. Pillar ratings take the form of Low, Below Average, Average, Above Average, and High. Pillars may be evaluated via an analyst’s qualitative assessment (either directly to a vehicle the analyst covers or indirectly when the pillar ratings of a covered vehicle are mapped to a related uncovered vehicle) or using algorithmic techniques. Vehicles are sorted by their expected performance into rating groups defined by their Morningstar Category and their active or passive status. When analysts directly cover a vehicle, they assign the three pillar ratings based on their qualitative assessment, subject to the oversight of the Analyst Rating Committee, and monitor and reevaluate them at least every 14 months. When the vehicles are covered either indirectly by analysts or by algorithm, the ratings are assigned monthly. For more detailed information about these ratings, including their methodology, please go to global.morningstar.com/managerdisclosures/.

The Morningstar Medalist Ratings are not statements of fact, nor are they credit or risk ratings. The Morningstar Medalist Rating (i) should not be used as the sole basis in evaluating an investment product, (ii) involves unknown risks and uncertainties which may cause expectations not to occur or to differ significantly from what was expected, (iii) are not guaranteed to be based on complete or accurate assumptions or models when determined algorithmically, (iv) involve the risk that the return target will not be met due to such things as unforeseen changes in management, technology, economic development, interest rate development, operating and/or material costs, competitive pressure, supervisory law, exchange rate, tax rates, exchange rate changes, and/or changes in political and social conditions, and (v) should not be considered an offer or solicitation to buy or sell the investment product. A change in the fundamental factors underlying the Morningstar Medalist Rating can mean that the rating is subsequently no longer accurate.

©2023 Morningstar, Inc. All rights reserved. The information contained herein: (1) is proprietary to Morningstar and/or its content providers; (2) may not be copied or distributed; and (3) is not warranted to be accurate, complete, or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information. Past performance is no guarantee of future results.

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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 © 2023 Harbor Capital Advisors, Inc. All rights reserved.