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Harbor Human Capital Factor US Small Cap ETF (HAPS)

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

NAV as of 9/10/2026
$37.22
NAV Daily Change
-$0.21
NAV YTD Return
18.61%
Net Expense Ratio (%)
0.61
Total Net Assets (million) as of 9/11/2026
$170.28
Benchmark
Human Capital Factor Small Cap Index

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.
  • HAPS offers exposure to small capitalization companies with strong Human Capital Factor scores while constraining sectors to enhance overall diversification.

Investment Solutions Built on the Human Capital Factor®

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

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

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

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

Market Cap‑Weighted Positions

Sector Neutral to Index
|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

Related Funds to Consider

Investment Team

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

Learn More

As of 9/10/2026

$37.22

Price (NAV)

-$0.21

NAV Daily Change ($)

-0.56%

NAV Daily Change (%)

18.61%

NAV YTD Return

$37.22

Market Price

-$0.21

Market Daily Change ($)

-0.56%

Market Daily Change (%)

18.57%

Market YTD Return

As of 9/10/2026

4/12/2023

Inception Date

0.61

Expense Ratio (%)

$170.28

Total Net Assets (million)

4,575,000

Shares Outstanding
(As of 9/11/2026)

HAPS

Ticker

41151J851

Cusip

NYSE Arca

Exchange

US41151J8514

ISIN

Foreside Fund Services, LLC

Distributor

Annually

Dividend Frequency

Small Cap Blend

Morningstar Category

Human Capital Factor Small Cap Index

Benchmark

174,624

Implied Liquidity™ (Shares)

$6,535,626.25

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 Small Cap Index.

As of 9/10/2026

$37.23

Bid/Ask Mid Price

$37.22

Closing Market Price

$0.01

Premium/Discount ($)

0.03%

Premium/Discount (%)
2025
Q1 2026
Q2 2026
Q3 2026
YTD
Days Traded at a Premium
231
53
53
44
150
Days Traded at a Discount
19
8
9
6
23

0.23%

30-Day Median Bid/Ask Spread

15

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 Small Cap ETF - at NAV
20.45%
19.57%
33.46%
13.57%
14.47%
0.61%
0.61%
Market Price
20.56%
19.56%
33.45%
13.58%
14.48%
--
--
Human Capital Factor Small Cap Total Return Index
20.75%
20.07%
34.43%
14.35%
15.23%
--
--
Russell 2000® Index
21.49%
22.57%
40.78%
18.60%
19.68%
--
--

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

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

The Russell 2000® Index measures the performance of the small‑cap segment of the US equity universe. It is a subset of the Russell 3000® and includes approximately 2000 of the smallest securities based on a combination of their market cap and current index membership. The Russell 2000® Index and Russell® are trademarks of Frank Russell Company. Indices listed are unmanaged and do not reflect fees and expenses and are 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
0.17801
--
--
0.17801
12/19/2024
12/19/2024
12/25/2024
0.21074
--
--
0.21074
12/20/2023
12/21/2023
12/26/2023
0.11815
--
--
0.11815

Holdings

As of 8/31/2026

192

Number of Holdings

3731.6

Wtd Avg Market Cap ($Mil)

2.3

Price/Book Ratio

18.7

Adjusted Trailing P/E Ratio

6.1

% EPS Growth - Past 3 Yr

6.51

Return on Equity (%)

14.2

Forecasted P/E Ratio

As of 9/10/2026

Company Name [Ticker]
% of Net Assets
TWIST BIOSCIENCE CORP[TWST]
2.2
MAGNOLIA OIL & GAS CORP - A[MGY]
2.2
KYMERA THERAPEUTICS INC[KYMR]
2.1
INVESCO S&P SMALLCAP HEALTH[PSCH]
2.1
PHILLIPS EDISON & COMPANY IN[PECO]
2.0
ORGANON & CO[OGN]
2.0
AVNET INC[AVT]
1.9
SENSIENT TECHNOLOGIES CORP[SXT]
1.8
APPLE HOSPITALITY REIT INC[APLE]
1.6
TARSUS PHARMACEUTICALS INC[TARS]
1.4
% of Total Holdings:
19.3%

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 9/10/2026

Company Name [Ticker]
Category Name
Country
Cusip
Shares
Current Price ($)
Market Value ($)
% of Net Assets
TWIST BIOSCIENCE CORP [TWST]
EQUITY
90184D100
29,675
126.85
3,764,273.75
2.2
MAGNOLIA OIL & GAS CORP - A [MGY]
EQUITY
559663109
135,068
27.70
3,741,383.60
2.2
KYMERA THERAPEUTICS INC [KYMR]
EQUITY
501575104
30,383
117.00
3,554,811.00
2.1
INVESCO S&P SMALLCAP HEALTH [PSCH]
EQUITY
46138E149
66,725
53.11
3,543,751.41
2.1
PHILLIPS EDISON & COMPANY IN [PECO]
EQUITY
71844V201
87,753
38.72
3,397,796.16
2.0
ORGANON & CO [OGN]
EQUITY
68622V106
246,338
13.63
3,357,586.94
2.0
AVNET INC [AVT]
EQUITY
053807103
35,081
92.97
3,261,480.57
1.9
SENSIENT TECHNOLOGIES CORP [SXT]
EQUITY
81725T100
22,980
131.06
3,011,758.80
1.8
APPLE HOSPITALITY REIT INC [APLE]
EQUITY
03784Y200
178,412
15.56
2,776,090.72
1.6
TARSUS PHARMACEUTICALS INC [TARS]
EQUITY
87650L103
29,316
81.12
2,378,113.92
1.4
CHEMOURS CO/THE [CC]
EQUITY
163851108
152,984
15.07
2,305,468.88
1.4
GATX CORP [GATX]
EQUITY
361448103
12,411
176.86
2,195,009.46
1.3
ATRICURE INC [ATRC]
EQUITY
04963C209
39,891
52.96
2,112,627.36
1.2
ARCHROCK INC [AROC]
EQUITY
03957W106
65,184
32.36
2,109,354.24
1.2
INVENTRUST PROPERTIES CORP [IVT]
EQUITY
46124J201
64,504
32.03
2,066,063.12
1.2
JFROG LTD [FROG]
EQUITY
M6191J100
23,106
88.65
2,048,346.90
1.2
HANCOCK WHITNEY CORP [HWC]
EQUITY
410120109
26,961
74.40
2,005,898.40
1.2
ASBURY AUTOMOTIVE GROUP [ABG]
EQUITY
043436104
9,486
208.81
1,980,771.66
1.2
ATLANTIC UNION BANKSHARES CO [AUB]
EQUITY
04911A107
48,894
39.62
1,937,180.28
1.1
TRAVEL + LEISURE CO [TNL]
EQUITY
894164102
28,640
65.36
1,871,910.40
1.1
KODIAK GAS SERVICES INC [KGS]
EQUITY
50012A108
29,143
62.50
1,821,437.50
1.1
PIPER SANDLER COS [PIPR]
EQUITY
724078209
23,584
76.11
1,794,978.24
1.1
VIRTU FINANCIAL INC-CLASS A [VIRT]
EQUITY
928254101
28,854
61.57
1,776,540.78
1.0
RADIAN GROUP INC [RDN]
EQUITY
750236101
48,636
36.22
1,761,595.92
1.0
GRANITE CONSTRUCTION INC [GVA]
EQUITY
387328107
15,163
115.25
1,747,535.75
1.0
KOSMOS ENERGY LTD [KOS]
EQUITY
500688106
592,784
2.94
1,742,784.96
1.0
CNO FINANCIAL GROUP INC [CNO]
EQUITY
12621E103
31,327
55.03
1,723,924.81
1.0
OCEANEERING INTL INC [OII]
EQUITY
675232102
33,581
50.57
1,698,191.17
1.0
AGIOS PHARMACEUTICALS INC [AGIO]
EQUITY
00847X104
50,020
33.64
1,682,672.80
1.0
SAREPTA THERAPEUTICS INC [SRPT]
EQUITY
803607100
79,210
20.52
1,625,389.20
1.0
LAUREATE EDUCATION INC [LAUR]
EQUITY
518613203
44,914
35.775
1,606,798.35
0.9
MOELIS & CO - CLASS A [MC]
EQUITY
60786M105
24,624
64.25
1,582,092.00
0.9
RESIDEO TECHNOLOGIES INC [REZI]
EQUITY
76118Y104
82,075
18.83
1,545,472.25
0.9
GEO GROUP INC/THE [GEO]
EQUITY
36162J106
47,374
31.38
1,486,596.12
0.9
COPA HOLDINGS SA-CLASS A [CPA]
EQUITY
P31076105
11,391
128.56
1,464,426.96
0.9
GRAND CANYON EDUCATION INC [LOPE]
EQUITY
38526M106
9,641
151.22
1,457,912.02
0.9
BREAD FINANCIAL HOLDINGS INC [BFH]
EQUITY
018581108
13,207
106.86
1,411,300.02
0.8
CALLAWAY GOLF COMPANY [CALY]
EQUITY
131193104
90,548
15.29
1,384,478.92
0.8
INTERNATIONAL BANCSHARES CRP [IBOC]
EQUITY
459044103
19,107
71.04
1,357,361.28
0.8
GENWORTH FINANCIAL INC [GNW]
EQUITY
37247D106
126,969
10.47
1,329,365.43
0.8
INDEPENDENT BANK CORP/MA [INDB]
EQUITY
453836108
15,794
82.80
1,307,743.20
0.8
REMITLY GLOBAL INC [RELY]
EQUITY
75960P104
58,475
21.93
1,282,356.75
0.8
LEVI STRAUSS & CO- CLASS A [LEVI]
EQUITY
52736R102
61,549
20.12
1,238,365.88
0.7
ULTRAGENYX PHARMACEUTICAL IN [RARE]
EQUITY
90400D108
85,514
14.40
1,231,401.60
0.7
CONMED CORP [CNMD]
EQUITY
207410101
26,354
46.22
1,218,081.88
0.7
INVESCO S&P SMALLCAP ENERGY [PSCE]
EQUITY
46138G474
18,753
64.175
1,203,470.02
0.7
ROBERT HALF INC [RHI]
EQUITY
770323103
32,130
37.42
1,202,304.60
0.7
YETI HOLDINGS INC [YETI]
EQUITY
98585X104
30,315
39.47
1,196,533.05
0.7
BOX INC - CLASS A [BOX]
EQUITY
10316T104
34,748
34.12
1,185,601.76
0.7
FIRST FINANCIAL BANCORP [FFBC]
EQUITY
320209109
34,966
32.53
1,137,443.98
0.7
RINGCENTRAL INC-CLASS A [RNG]
EQUITY
76680R206
16,352
69.04
1,128,942.08
0.7
HNI CORP [HNI]
EQUITY
404251100
23,902
46.30
1,106,662.60
0.6
ARCBEST CORP [ARCB]
EQUITY
03937C105
8,106
134.97
1,094,066.82
0.6
ITRON INC [ITRI]
EQUITY
465741106
11,596
93.55
1,084,805.80
0.6
TOWNE BANK [TOWN]
EQUITY
89214P109
28,994
37.09
1,075,387.46
0.6
GLOBAL BUSINESS TRAVEL GROUP [GBTG]
EQUITY
37890B100
108,083
9.48
1,024,626.84
0.6
BANK OF HAWAII CORP [BOH]
EQUITY
062540109
13,417
75.82
1,017,276.94
0.6
INVESCO S&P SMALLCAP MATERIA [PSCM]
EQUITY
46138G201
10,381
97.482
1,011,959.60
0.6
WORTHINGTON STEEL INC [WS]
EQUITY
982104101
29,583
33.75
998,426.25
0.6
SYNAPTICS INC [SYNA]
EQUITY
87157D109
10,235
93.47
956,665.45
0.6
DOLBY LABORATORIES INC-CL A [DLB]
EQUITY
25659T107
15,256
62.62
955,330.72
0.6
BLACK HILLS CORP [BKH]
EQUITY
092113109
13,079
72.28
945,350.12
0.6
VISHAY INTERTECHNOLOGY INC [VSH]
EQUITY
928298108
29,746
31.29
930,752.34
0.5
BANC OF CALIFORNIA INC [BANC]
EQUITY
05990K106
50,535
18.40
929,844.00
0.5
H.B. FULLER CO. [FUL]
EQUITY
359694106
17,690
51.65
913,688.50
0.5
IRIDIUM COMMUNICATIONS INC [IRDM]
EQUITY
46269C102
19,268
47.03
906,174.04
0.5
EXTREME NETWORKS INC [EXTR]
EQUITY
30226D106
42,423
21.18
898,519.14
0.5
WORLD KINECT CORP [WKC]
EQUITY
981475106
25,252
35.35
892,658.20
0.5
KOPPERS HOLDINGS INC [KOP]
EQUITY
50060P106
18,835
46.35
873,002.25
0.5
FIRST BUSEY CORP [BUSE]
EQUITY
319383204
28,651
30.38
870,417.38
0.5
FIRST MERCHANTS CORP [FRME]
EQUITY
320817109
21,152
41.10
869,347.20
0.5
WILEY (JOHN) & SONS-CLASS A [WLY]
EQUITY
968223206
18,386
47.24
868,554.64
0.5
HURON CONSULTING GROUP INC [HURN]
EQUITY
447462102
5,789
149.43
865,050.27
0.5
COLLEGIUM PHARMACEUTICAL INC [COLL]
EQUITY
19459J104
37,742
22.92
865,046.64
0.5
MANPOWERGROUP INC [MAN]
EQUITY
56418H100
14,888
57.02
848,913.76
0.5
CASTLE BIOSCIENCES INC [CSTL]
EQUITY
14843C105
26,072
32.32
842,647.04
0.5
DXP ENTERPRISES INC [DXPE]
EQUITY
233377407
4,596
183.135
841,688.46
0.5
WORKIVA INC [WK]
EQUITY
98139A105
11,766
71.33
839,268.78
0.5
TENABLE HOLDINGS INC [TENB]
EQUITY
88025T102
24,975
32.03
799,949.25
0.5
BANNER CORPORATION [BANR]
EQUITY
06652V208
11,101
70.82
786,172.82
0.5
MASTERBRAND INC [MBC]
EQUITY
57638P104
104,923
7.43
779,577.89
0.5
TERADATA CORP [TDC]
EQUITY
88076W103
28,171
27.36
770,758.56
0.5
PRIVIA HEALTH GROUP INC [PRVA]
EQUITY
74276R102
37,211
20.37
757,988.07
0.4
PHIBRO ANIMAL HEALTH CORP-A [PAHC]
EQUITY
71742Q106
20,364
36.58
744,915.12
0.4
BOSTON BEER COMPANY INC-A [SAM]
EQUITY
100557107
4,376
169.52
741,819.52
0.4
BALDWIN INSURANCE GROUP INC/ [BWIN]
EQUITY
05589G102
25,208
29.39
740,863.12
0.4
NORTHWESTERN ENERGY GROUP IN [NWE]
EQUITY
668074305
10,579
70.01
740,635.79
0.4
CENTERSPACE [CSR]
EQUITY
15202L107
12,815
57.69
739,297.35
0.4
NETSCOUT SYSTEMS INC [NTCT]
EQUITY
64115T104
19,299
37.44
722,554.56
0.4
AVEANNA HEALTHCARE HOLDINGS [AVAH]
EQUITY
05356F105
51,989
13.86
720,567.54
0.4
SPS COMMERCE INC [SPSC]
EQUITY
78463M107
9,243
77.23
713,836.89
0.4
KURA ONCOLOGY INC [KURA]
EQUITY
50127T109
59,789
11.57
691,758.73
0.4
ALLEGIANT TRAVEL CO [ALGT]
EQUITY
01748X102
9,021
76.07
686,227.47
0.4
ADI GLOBAL DISTRIB [ADIG]
EQUITY
001026103
30,866
21.41
660,841.06
0.4
ENERGIZER HOLDINGS INC [ENR]
EQUITY
29272W109
32,930
20.04
659,917.20
0.4
MAGNITE INC [MGNI]
EQUITY
55955D100
27,951
23.55
658,246.05
0.4
PITNEY BOWES INC [PBI]
EQUITY
724479100
38,374
16.97
651,206.78
0.4
ENCORE CAPITAL GROUP INC [ECPG]
EQUITY
292554102
6,576
97.94
644,053.44
0.4
CLEARWAY ENERGY INC-C [CWEN]
EQUITY
18539C204
20,143
31.59
636,317.37
0.4
INSPERITY INC [NSP]
EQUITY
45778Q107
12,765
49.82
635,952.30
0.4
INTERFACE INC [TILE]
EQUITY
458665304
18,760
33.85
635,026.00
0.4
ARBOR REALTY TRUST INC [ABR]
EQUITY
038923108
131,515
4.81
632,587.15
0.4
WORTHINGTON ENTERPRISES INC [WOR]
EQUITY
981811102
10,885
57.61
627,084.85
0.4
RYERSON HOLDING CORP [RYZ]
EQUITY
783754104
24,549
25.21
618,880.29
0.4
INVESCO S&P SMALLCAP FINANCI [PSCF]
EQUITY
46138E156
9,462
64.949
614,544.60
0.4
CARGURUS INC [CARG]
EQUITY
141788109
18,223
33.30
606,825.90
0.4
AMERICAN STATES WATER CO [AWR]
EQUITY
029899101
6,774
87.47
592,521.78
0.3
TRIPADVISOR INC [TRIP]
EQUITY
896945201
66,152
8.825
583,791.40
0.3
KEMPER CORP [KMPR]
EQUITY
488401100
20,845
27.02
563,231.90
0.3
ADIENT PLC [ADNT]
EQUITY
G0084W101
29,393
18.86
554,351.98
0.3
MARQETA INC A COMMON STOCK USD.0001 [MQ]
EQUITY
57142B203
34,267
16.155
553,583.39
0.3
SCANSOURCE INC [SCSC]
EQUITY
806037107
9,742
55.53
540,973.26
0.3
CHESAPEAKE UTILITIES CORP [CPK]
EQUITY
165303108
4,156
129.59
538,576.04
0.3
WALKER & DUNLOP INC [WD]
EQUITY
93148P102
13,298
40.33
536,308.34
0.3
HILLTOP HOLDINGS INC [HTH]
EQUITY
432748101
13,660
38.90
531,374.00
0.3
ZIFF DAVIS INC [ZD]
EQUITY
48123V102
9,591
55.29
530,286.39
0.3
LGI HOMES INC [LGIH]
EQUITY
50187T106
10,871
48.70
529,417.70
0.3
ORIGIN BANCORP INC [OBK]
EQUITY
68621T102
9,735
54.26
528,221.10
0.3
OCEANFIRST FINANCIAL CORP [OCFC]
EQUITY
675234108
28,160
18.74
527,718.40
0.3
JETBLUE AIRWAYS CORP [JBLU]
EQUITY
477143101
119,342
4.39
523,911.38
0.3
BANK FIRST CORP [BFC]
EQUITY
06211J100
3,304
155.24
512,912.96
0.3
BRAZE INC-A [BRZE]
EQUITY
10576N102
21,002
24.265
509,613.53
0.3
CIMPRESS PLC [CMPR]
EQUITY
G2143T103
6,060
84.07
509,464.20
0.3
CALIX INC [CALX]
EQUITY
13100M509
14,036
34.93
490,277.48
0.3
PEOPLES BANCORP INC [PEBO]
EQUITY
709789101
12,308
39.76
489,366.08
0.3
MILLERKNOLL INC [MLKN]
EQUITY
600544100
23,502
20.80
488,841.60
0.3
BEAZER HOMES USA INC [BZH]
EQUITY
07556Q881
14,202
33.25
472,216.50
0.3
NCINO INC [NCNO]
EQUITY
63947X101
21,241
21.43
455,194.63
0.3
INNODATA INC [INOD]
EQUITY
457642205
8,315
53.11
441,609.65
0.3
DOUBLEVERIFY HOLDINGS INC [DV]
EQUITY
25862V105
31,516
13.37
421,368.92
0.2
SYLVAMO CORP [SLVM]
EQUITY
871332102
11,990
35.03
420,009.70
0.2
PROGRESS SOFTWARE CORP [PRGS]
EQUITY
743312100
10,309
40.61
418,648.49
0.2
GLOBANT SA [GLOB]
EQUITY
L44385109
11,336
36.70
416,031.20
0.2
BIOVENTUS INC - A [BVS]
EQUITY
09075A108
31,644
13.06
413,270.64
0.2
PORCH GROUP INC [PRCH]
EQUITY
733245104
25,088
16.29
408,683.52
0.2
UPWORK INC [UPWK]
EQUITY
91688F104
48,079
8.41
404,344.39
0.2
FIRST ADVANTAGE CORP [FA]
EQUITY
31846B108
19,801
20.42
404,336.42
0.2
AMERICAN PUBLIC EDUCATION [APEI]
EQUITY
02913V103
8,884
44.86
398,536.24
0.2
BLACKBAUD INC [BLKB]
EQUITY
09227Q100
8,937
44.22
395,194.14
0.2
OMNICELL INC [OMCL]
EQUITY
68213N109
11,502
32.25
370,939.50
0.2
ARLO TECHNOLOGIES INC [ARLO]
EQUITY
04206A101
28,381
13.00
368,953.00
0.2
COURSERA INC [COUR]
EQUITY
22266M104
69,189
5.23
361,858.47
0.2
KESTRA MEDICAL TECHNOLOGIES [KMTS]
EQUITY
G52441105
15,080
23.57
355,435.60
0.2
HAWAIIAN ELECTRIC INDS [HE]
EQUITY
419870100
33,797
10.47
353,854.59
0.2
MERCANTILE BANK CORP [MBWM]
EQUITY
587376104
5,726
61.30
351,003.80
0.2
REGENXBIO INC [RGNX]
EQUITY
75901B107
40,035
8.56
342,699.60
0.2
GENIUS SPORTS LTD [GENI]
EQUITY
G3934V109
49,680
6.72
333,849.60
0.2
MERCHANTS BANCORP/IN [MBIN]
EQUITY
58844R108
6,142
52.98
325,403.16
0.2
KFORCE INC [KFRC]
EQUITY
493732101
6,050
51.49
311,514.50
0.2
F&G ANNUITIES & LIFE INC [FG]
EQUITY
30190A104
13,169
23.57
310,393.33
0.2
ALKAMI TECHNOLOGY INC [ALKT]
EQUITY
01644J108
16,276
19.06
310,220.56
0.2
BANDWIDTH INC-CLASS A [BAND]
EQUITY
05988J103
5,618
51.62
290,001.16
0.2
CONCENTRIX CORP [CNXC]
EQUITY
20602D101
10,658
27.00
287,766.00
0.2
FIRST WATCH RESTAURANT GROUP [FWRG]
EQUITY
33748L101
24,875
11.19
278,351.25
0.2
ABEONA THERAPEUTICS INC [ABEO]
EQUITY
00289Y206
50,035
5.48
274,191.80
0.2
MYRIAD GENETICS INC [MYGN]
EQUITY
62855J104
81,054
3.36
272,341.44
0.2
SCHRODINGER INC [SDGR]
EQUITY
80810D103
14,437
18.80
271,415.60
0.2
PAGERDUTY INC [PD]
EQUITY
69553P100
19,349
13.75
266,048.75
0.2
VANDA PHARMACEUTICALS INC [VNDA]
EQUITY
921659108
52,036
5.04
262,261.44
0.2
DAKTRONICS INC [DAKT]
EQUITY
234264109
13,721
18.95
260,012.95
0.2
LEGALZOOMCOM INC [LZ]
EQUITY
52466B103
43,566
5.91
257,475.06
0.2
GOODRX HOLDINGS INC-CLASS A [GDRX]
EQUITY
38246G108
73,403
3.35
245,900.05
0.1
VERTEX INC - CLASS A [VERX]
EQUITY
92538J106
19,309
12.27
236,921.43
0.1
ASANA INC - CL A [ASAN]
EQUITY
04342Y104
24,756
8.56
211,911.36
0.1
XPLR INFRASTRUCTURE LP [XIFR]
EQUITY
65341B106
17,083
11.48
196,112.84
0.1
FIRST BUSINESS FINANCIAL SER [FBIZ]
EQUITY
319390100
2,632
72.27
190,214.64
0.1
AMPLITUDE INC-CLASS A [AMPL]
EQUITY
03213A104
15,158
12.46
188,868.68
0.1
SABRE CORP [SABR]
EQUITY
78573M104
86,930
2.13
185,160.90
0.1
MIDDLESEX WATER CO [MSEX]
EQUITY
596680108
3,233
57.18
184,862.94
0.1
UWM HOLDINGS CORP [UWMC]
EQUITY
91823B109
116,996
1.34
156,774.64
0.1
YEXT INC [YEXT]
EQUITY
98585N106
24,865
6.28
156,152.20
0.1
ONESPAN INC [OSPN]
EQUITY
68287N100
8,778
16.49
144,749.22
0.1
HYSTER-YALE INC [HY]
EQUITY
449172105
4,098
34.04
139,495.92
0.1
TABOOLA.COM LTD [TBLA]
EQUITY
M8744T106
35,740
3.73
133,310.20
0.1
ENTRADA THERAPEUTICS INC [TRDA]
EQUITY
29384C108
19,144
6.42
122,904.48
0.1
GRID DYNAMICS HOLDINGS INC [GDYN]
EQUITY
39813G109
15,296
7.83
119,767.68
0.1
EVOLENT HEALTH INC - A [EVH]
EQUITY
30050B101
26,078
4.17
108,745.26
0.1
AGNT INC [AGNT]
EQUITY
30212W100
28,753
3.75
107,823.75
0.1
LENDINGTREE INC [TREE]
EQUITY
52603B107
3,859
26.89
103,768.51
0.1
N-ABLE INC [NABL]
EQUITY
62878D100
23,537
3.86
90,852.82
0.1
HACKETT GROUP INC/THE [HCKT]
EQUITY
404609109
8,166
10.94
89,336.04
0.1
LENZ THERAPEUTICS INC [LENZ]
EQUITY
52635N103
18,714
4.72
88,330.08
0.1
SIMULATIONS PLUS INC [SLP]
EQUITY
829214105
4,448
18.42
81,932.16
0.0
OPORTUN FINANCIAL CORP [OPRT]
EQUITY
68376D104
9,480
7.66
72,616.80
0.0
PLAYTIKA HOLDING CORP [PLTK]
EQUITY
72815L107
31,835
2.22
70,673.70
0.0
AMC GLOBAL MEDIA INC [AMCX]
EQUITY
00164V103
5,477
12.07
66,107.39
0.0
HERTZ GLOBAL HLDGS INC [HTZ]
EQUITY
42806J700
30,980
2.05
63,509.00
0.0
AMERICAN INTEGRITY INSURANCE [AII]
EQUITY
026948109
2,244
25.41
57,020.04
0.0
ZIPRECRUITER INC-A [ZIP]
EQUITY
98980B103
13,905
3.69
51,309.45
0.0
EVERCOMMERCE INC [EVCM]
EQUITY
29977X105
6,086
6.53
39,741.58
0.0
TASKUS INC-A [TASK]
EQUITY
87652V109
5,125
7.64
39,155.00
0.0
Total
--
--
--
--
--
170,161,521.03
99.7
Cash and Other Assets Less Liabilities
--
--
--
--
--
--
0.3
Total Net Assets
--
--
--
--
--
--
100.0

As of 8/31/2026

Sector Breakdown

Financials

HAPS

20.1%

Benchmark

20.0%

Health Care

HAPS

19.3%

Benchmark

19.3%

Information Technology

HAPS

13.7%

Benchmark

13.7%

Industrials

HAPS

13.3%

Benchmark

13.3%

Consumer Discretionary

HAPS

8.8%

Benchmark

8.8%

Energy

HAPS

7.4%

Benchmark

7.4%

Materials

HAPS

5.4%

Benchmark

5.3%

Real Estate

HAPS

5.2%

Benchmark

5.2%

Communication Services

HAPS

3.1%

Benchmark

3.1%

Utilities

HAPS

2.4%

Benchmark

2.4%

Consumer Staples

HAPS

0.9%

Benchmark

0.9%

Non-Energy Materials

HAPS

0.6%

Benchmark

0.6%

Cash

HAPS

-0.0%

Benchmark

0.0%

HAPS: Human Capital Factor US Small Cap ETF

Benchmark: Human Capital Factor Small 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 Small Cap Index (“The Index”). The Fund invests at least 80% of its total assets in securities that are included in the Index.

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

Harbor Capital serves as the investment adviser.


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. The ETF is new and has limited operating history to judge.

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

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

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

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

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

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

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

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

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

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

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

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