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Harbor Long-Short Equity ETF (LSEQ)

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

Harbor Long-Short Equity ETF (LSEQ)

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

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

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

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

Overview

Investment Team
Management Team Logo

Current Price

As of 4/19/2024

$25.36

Price (NAV)

-$0.25

NAV Daily Change ($)

-0.98%

NAV Daily Change (%)

5.75%

NAV YTD Return

$25.36

Market Price

-$0.25

Market Daily Change ($)

-0.98%

Market Daily Change (%)

5.71%

Market YTD Return

Fund Facts

As of 4/19/2024

12/4/2023

Inception Date

1.70

Expense Ratio (%)
disclaimer

$13.945

Total Net Assets (million)

549,998

Shares Outstanding
(As of 4/22/2024)

LSEQ

Ticker

41151J828

Cusip

NYSE

Exchange

US41151J8282

ISIN

Foreside Fund Services, LLC

Distributor
disclaimer

A

Dividend Frequency

Long-Short Equity

Morningstar Category

HFRX Equity Hedge Index

Benchmark

Investment Objective:

The Fund seeks long-term growth of capital.

Pricing/Trading

As of 4/19/2024

$25.38

Bid/Ask Mid Price

$25.36

Closing Market Price

$0.02

Premium/Discount ($)

0.08%

Premium/Discount (%)

0.41%

30-Day Median Bid/Ask Spread

225

Exchange Volume (Shares)

USD

Trading Currency

Historical Premium Discount to NAV

Performance

Average Annual Returns

Quarter-End

3 Mo.

YTD Return

1 Yr.

3 Yr.

5 Yr.

Since Inception

Net Expense Ratio

Gross Expense Ratio

Long-Short Equity ETF - at NAV
11.01%
11.01%
2.00%
4.55%
5.10%
4.89%
1.70%disclaimer
1.70%
Market Price
11.05%
11.05%
--
--
--
9.67%
--
--
HFRX Equity Hedge Index
3.40%
3.40%
9.66%
5.34%
5.57%
3.33%
--
--

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

ETF performance prior to 12/1/23 is attributable to the Disciplined Alpha Onshore Fund LP (the “Predecessor Fund”). The historical NAV of the predecessor are used for both NAV and Market Offer Price performance from inception to ETF listing date. Performance periods since LSEQ listing date may contain NAV and MOP data of both the newly formed ETF and the predecessor fund performance. Please refer to the Fund prospectus for further details.

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

Price History

Chart

Ex-Date

Record Date

Payable Date

Ordinary Income

Short Term Capital Gains

Long Term Capital Gains

Total Distribution

12/21/2023
12/22/2023
12/27/2023
--
--
--
0.00000

Holdings

Portfolio Characteristics

As of 3/31/2024

154

Number of Holdings

244021.7

Wtd Avg Market Cap ($Mil)

11.61

Price/Book Ratio

33.9

Adjusted Trailing P/E Ratio

40.1

% EPS Growth - Past 3 Yr

23.32

Return on Equity (%)

27.6

Forecasted P/E Ratio

Top Ten Holdings

As of 4/19/2024

Company Name [Ticker]

% of Net Assets

MODERNA INC[MRNA]
2.7
ADT INC[ADT]
2.3
ELI LILLY & CO[LLY]
2.1
VISTRA CORP[VST]
2.0
AMERICAN AIRLINES GROUP INC[AAL]
2.0
META PLATFORMS INC-CLASS A[META]
1.9
KYNDRYL HOLDINGS INC[KD]
1.9
ANTERO MIDSTREAM CORP[AM]
1.8
CONSTELLATION ENERGY[CEG]
1.8
TRIPADVISOR INC[TRIP]
1.8
% of Total Holdings:
20.3%

This information should not be considered as a recommendation to purchase or sell a particular security. The weightings, holdings, industry, sector and/or countries mentioned may change at any time and may not represent current or future investments.

As of 4/19/2024

Company Name [Ticker]

Category Name

Country

Cusip

Shares

Current Price ($)

Market Value ($)

% of Net Assets

MODERNA INC [MRNA]
EQUITY
60770K107
3,720
101.41
377,245.20
2.7
ADT INC [ADT]
EQUITY
00090Q103
50,771
6.19
314,272.49
2.3
ELI LILLY & CO [LLY]
EQUITY
532457108
401
726.31
291,250.31
2.1
VISTRA CORP [VST]
EQUITY
92840M102
4,228
65.66
277,610.48
2.0
AMERICAN AIRLINES GROUP INC [AAL]
EQUITY
02376R102
19,353
14.11
273,070.83
2.0
META PLATFORMS INC-CLASS A [META]
EQUITY
30303M102
554
481.07
266,512.78
1.9
KYNDRYL HOLDINGS INC [KD]
EQUITY
50155Q100
13,237
19.66
260,239.42
1.9
ANTERO MIDSTREAM CORP [AM]
EQUITY
03676B102
18,460
13.92
256,963.20
1.8
CONSTELLATION ENERGY [CEG]
EQUITY
21037T109
1,373
180.90
248,375.70
1.8
TRIPADVISOR INC [TRIP]
EQUITY
896945201
9,838
25.04
246,343.52
1.8
APPLOVIN CORP-CLASS A [APP]
EQUITY
03831W108
3,556
66.80
237,540.80
1.7
NUTANIX INC - A [NTNX]
EQUITY
67059N108
4,005
58.75
235,293.75
1.7
LYFT INC-A [LYFT]
EQUITY
55087P104
14,538
16.15
234,788.70
1.7
ELANCO ANIMAL HEALTH INC [ELAN]
EQUITY
28414H103
17,922
12.95
232,089.90
1.7
WILLIAMS-SONOMA INC [WSM]
EQUITY
969904101
828
279.20
231,177.60
1.7
INFORMATICA INC - CLASS A [INFA]
EQUITY
45674M101
6,493
35.19
228,488.67
1.6
PALANTIR TECHNOLOGIES INC-A [PLTR]
EQUITY
69608A108
11,088
20.47
226,971.36
1.6
CROWDSTRIKE HOLDINGS INC - A [CRWD]
EQUITY
22788C105
791
282.64
223,568.24
1.6
CENCORA INC [COR]
EQUITY
03073E105
926
239.13
221,434.38
1.6
TARGA RESOURCES CORP [TRGP]
EQUITY
87612G101
1,958
112.92
221,097.36
1.6
MARATHON PETROLEUM CORP [MPC]
EQUITY
56585A102
1,104
196.38
216,803.52
1.6
DELL TECHNOLOGIES -C [DELL]
EQUITY
24703L202
1,892
114.425
216,492.10
1.6
UIPATH INC - CLASS A [PATH]
EQUITY
90364P105
11,156
18.75
209,175.00
1.5
SHERWIN-WILLIAMS CO/THE [SHW]
EQUITY
824348106
664
305.96
203,157.44
1.5
CDW CORP/DE [CDW]
EQUITY
12514G108
841
235.78
198,290.98
1.4
OKTA INC [OKTA]
EQUITY
679295105
2,112
92.03
194,367.36
1.4
CARDINAL HEALTH INC [CAH]
EQUITY
14149Y108
1,784
108.19
193,010.96
1.4
RPM INTERNATIONAL INC [RPM]
EQUITY
749685103
1,809
106.57
192,785.13
1.4
UBER TECHNOLOGIES INC [UBER]
EQUITY
90353T100
2,775
69.20
192,030.00
1.4
ARISTA NETWORKS INC [ANET]
EQUITY
040413106
773
246.09
190,227.57
1.4
BOSTON SCIENTIFIC CORP [BSX]
EQUITY
101137107
2,795
67.33
188,187.35
1.3
WEX INC [WEX]
EQUITY
96208T104
793
230.48
182,770.64
1.3
REGENERON PHARMACEUTICALS [REGN]
EQUITY
75886F107
199
896.82
178,467.18
1.3
DECKERS OUTDOOR CORP [DECK]
EQUITY
243537107
222
800.38
177,684.36
1.3
RYDER SYSTEM INC [R]
EQUITY
783549108
1,633
108.71
177,523.43
1.3
LINDE PLC [LIN]
EQUITY
G54950103
396
446.30
176,734.80
1.3
SAGE THERAPEUTICS INC [SAGE]
EQUITY
78667J108
13,029
13.33
173,676.57
1.2
T-MOBILE US INC [TMUS]
EQUITY
872590104
1,014
162.33
164,602.62
1.2
MCKESSON CORP [MCK]
EQUITY
58155Q103
289
524.83
151,675.87
1.1
MURPHY USA INC [MUSA]
EQUITY
626755102
353
417.23
147,282.19
1.1
MARRIOTT INTERNATIONAL -CL A [MAR]
EQUITY
571903202
617
236.00
145,612.00
1.0
DAVITA INC [DVA]
EQUITY
23918K108
1,127
127.82
144,053.14
1.0
TECHNIPFMC PLC [FTI]
EQUITY
G87110105
5,542
25.22
139,769.24
1.0
US FOODS HOLDING CORP [USFD]
EQUITY
912008109
2,689
50.04
134,557.56
1.0
MERCK & CO. INC. [MRK]
EQUITY
58933Y105
1,059
125.78
133,201.02
1.0
MARTIN MARIETTA MATERIALS [MLM]
EQUITY
573284106
229
575.89
131,878.81
0.9
PHILLIPS 66 [PSX]
EQUITY
718546104
843
154.71
130,420.53
0.9
CADENCE DESIGN SYS INC [CDNS]
EQUITY
127387108
463
280.25
129,755.75
0.9
AUTOZONE INC [AZO]
EQUITY
053332102
43
2,985.54
128,378.22
0.9
O'REILLY AUTOMOTIVE INC [ORLY]
EQUITY
67103H107
117
1,090.94
127,639.98
0.9
ALPHABET INC-CL C [GOOG]
EQUITY
02079K107
818
155.72
127,378.96
0.9
GODADDY INC - CLASS A [GDDY]
EQUITY
380237107
1,050
120.12
126,126.00
0.9
AMPHENOL CORP-CL A [APH]
EQUITY
032095101
1,144
110.17
126,034.48
0.9
COSTCO WHOLESALE CORP [COST]
EQUITY
22160K105
177
709.51
125,583.27
0.9
ECOLAB INC [ECL]
EQUITY
278865100
573
218.16
125,005.68
0.9
AMAZON.COM INC [AMZN]
EQUITY
023135106
709
174.63
123,812.67
0.9
PACKAGING CORP OF AMERICA [PKG]
EQUITY
695156109
686
179.89
123,404.54
0.9
SOUTHERN COPPER CORP [SCCO]
EQUITY
84265V105
1,084
113.43
122,958.12
0.9
NETAPP INC [NTAP]
EQUITY
64110D104
1,255
97.95
122,927.25
0.9
MOTOROLA SOLUTIONS INC [MSI]
EQUITY
620076307
360
339.65
122,274.00
0.9
MASTERCARD INC - A [MA]
EQUITY
57636Q104
267
455.39
121,589.13
0.9
ENCOMPASS HEALTH CORP [EHC]
EQUITY
29261A100
1,481
79.22
117,324.82
0.8
DOMINO'S PIZZA INC [DPZ]
EQUITY
25754A201
244
473.55
115,546.20
0.8
MOLINA HEALTHCARE INC [MOH]
EQUITY
60855R100
314
367.52
115,401.28
0.8
TJX COMPANIES INC [TJX]
EQUITY
872540109
1,233
93.36
115,112.88
0.8
SYNOPSYS INC [SNPS]
EQUITY
871607107
225
510.71
114,909.75
0.8
WESTERN DIGITAL CORP [WDC]
EQUITY
958102105
1,737
66.05
114,728.85
0.8
THE CIGNA GROUP [CI]
EQUITY
125523100
321
352.39
113,117.19
0.8
RELIANCE INC [RS]
EQUITY
759509102
353
319.49
112,779.97
0.8
TEXAS ROADHOUSE INC [TXRH]
EQUITY
882681109
746
150.73
112,444.58
0.8
PERFORMANCE FOOD GROUP CO [PFGC]
EQUITY
71377A103
1,640
68.48
112,307.20
0.8
CHIPOTLE MEXICAN GRILL INC [CMG]
EQUITY
169656105
39
2,869.11
111,895.29
0.8
F5 INC [FFIV]
EQUITY
315616102
630
177.33
111,717.90
0.8
WALMART INC [WMT]
EQUITY
931142103
1,874
59.53
111,559.22
0.8
ROSS STORES INC [ROST]
EQUITY
778296103
830
133.34
110,672.20
0.8
NUCOR CORP [NUE]
EQUITY
670346105
578
191.36
110,606.08
0.8
VALERO ENERGY CORP [VLO]
EQUITY
91913Y100
664
163.89
108,822.96
0.8
VERTEX PHARMACEUTICALS INC [VRTX]
EQUITY
92532F100
275
394.28
108,427.00
0.8
GARTNER INC [IT]
EQUITY
366651107
246
440.38
108,333.48
0.8
P G & E CORP [PCG]
EQUITY
69331C108
6,401
16.85
107,856.85
0.8
HILTON WORLDWIDE HOLDINGS IN [HLT]
EQUITY
43300A203
553
194.47
107,541.91
0.8
ROYAL CARIBBEAN CRUISES LTD [RCL]
EQUITY
V7780T103
830
129.21
107,244.30
0.8
STEEL DYNAMICS INC [STLD]
EQUITY
858119100
782
136.90
107,055.80
0.8
WINGSTOP INC [WING]
EQUITY
974155103
307
347.37
106,642.59
0.8
MICROSOFT CORP [MSFT]
EQUITY
594918104
267
399.12
106,565.04
0.8
PURE STORAGE INC - CLASS A [PSTG]
EQUITY
74624M102
2,153
49.46
106,487.38
0.8
PTC INC [PTC]
EQUITY
69370C100
601
176.37
105,998.37
0.8
ABBVIE INC [ABBV]
EQUITY
00287Y109
635
166.41
105,670.35
0.8
NATERA INC [NTRA]
EQUITY
632307104
1,239
85.28
105,661.92
0.8
HCA HEALTHCARE INC [HCA]
EQUITY
40412C101
345
305.11
105,262.95
0.8
NEUROCRINE BIOSCIENCES INC [NBIX]
EQUITY
64125C109
797
132.00
105,204.00
0.8
VALVOLINE INC [VVV]
EQUITY
92047W101
2,554
41.19
105,199.26
0.8
STRYKER CORP [SYK]
EQUITY
863667101
323
325.43
105,113.89
0.8
CHEMED CORP [CHE]
EQUITY
16359R103
175
600.41
105,071.75
0.8
SERVICENOW INC [NOW]
EQUITY
81762P102
147
713.91
104,944.77
0.8
XPO INC [XPO]
EQUITY
983793100
916
114.49
104,872.84
0.8
VULCAN MATERIALS CO [VMC]
EQUITY
929160109
415
252.06
104,604.90
0.8
DOORDASH INC - A [DASH]
EQUITY
25809K105
822
127.18
104,541.96
0.7
MEDPACE HOLDINGS INC [MEDP]
EQUITY
58506Q109
281
372.00
104,532.00
0.7
HYATT HOTELS CORP - CL A [H]
EQUITY
448579102
712
146.37
104,215.44
0.7
CASEY'S GENERAL STORES INC [CASY]
EQUITY
147528103
334
310.41
103,676.94
0.7
TENET HEALTHCARE CORP [THC]
EQUITY
88033G407
1,106
93.19
103,068.14
0.7
VONTIER CORP [VNT]
EQUITY
928881101
2,546
39.96
101,738.16
0.7
FAIR ISAAC CORP [FICO]
EQUITY
303250104
90
1,130.06
101,705.40
0.7
EAGLE MATERIALS INC [EXP]
EQUITY
26969P108
424
238.19
100,992.56
0.7
SAIA INC [SAIA]
EQUITY
78709Y105
195
517.51
100,914.45
0.7
PEGASYSTEMS INC [PEGA]
EQUITY
705573103
1,744
57.61
100,471.84
0.7
MANHATTAN ASSOCIATES INC [MANH]
EQUITY
562750109
442
226.34
100,042.28
0.7
UNIVERSAL HEALTH SERVICES-B [UHS]
EQUITY
913903100
635
157.47
99,993.45
0.7
DICK'S SPORTING GOODS INC [DKS]
EQUITY
253393102
511
195.08
99,685.88
0.7
LOUISIANA-PACIFIC CORP [LPX]
EQUITY
546347105
1,364
72.11
98,358.04
0.7
VEEVA SYSTEMS INC-CLASS A [VEEV]
EQUITY
922475108
494
198.38
97,999.72
0.7
PROCORE TECHNOLOGIES INC [PCOR]
EQUITY
74275K108
1,384
70.29
97,281.36
0.7
DRAFTKINGS INC-CL A [DKNG]
EQUITY
26142V105
2,390
40.68
97,225.20
0.7
ZOOM VIDEO COMMUNICATIONS-A [ZM]
EQUITY
98980L101
1,629
59.45
96,844.05
0.7
ICON PLC [ICLR]
EQUITY
G4705A100
330
288.23
95,115.90
0.7
BRUKER CORP [BRKR]
EQUITY
116794108
1,217
77.76
94,633.92
0.7
COHERENT CORP [COHR]
EQUITY
19247G107
1,812
49.26
89,259.12
0.6
ESC GCI LIBERTY INC SR COMMON STOCK
EQUITY
--
361ESC049
1,871
0.00
0.00
0.0
UNITY SOFTWARE INC [U]
EQUITY
91332U101
-6,680
22.89
-152,905.20
-1.1
VIASAT INC [VSAT]
EQUITY
92552V100
-10,534
15.83
-166,753.22
-1.2
CHARTER COMMUNICATIONS INC-A [CHTR]
EQUITY
16119P108
-638
265.21
-169,203.98
-1.2
FIVE BELOW [FIVE]
EQUITY
33829M101
-1,140
150.29
-171,330.60
-1.2
CABLE ONE INC [CABO]
EQUITY
12685J105
-444
395.61
-175,650.84
-1.3
ALBEMARLE CORP [ALB]
EQUITY
012653101
-1,654
112.15
-185,496.10
-1.3
RH [RH]
EQUITY
74967X103
-789
240.41
-189,683.49
-1.4
CHURCHILL DOWNS INC [CHDN]
EQUITY
171484108
-1,833
118.96
-218,053.68
-1.6
AMERICAN WATER WORKS CO INC [AWK]
EQUITY
030420103
-1,857
118.52
-220,091.64
-1.6
STARBUCKS CORP [SBUX]
EQUITY
855244109
-2,521
87.61
-220,864.81
-1.6
ACADIA HEALTHCARE CO INC [ACHC]
EQUITY
00404A109
-3,219
70.16
-225,845.04
-1.6
LIBERTY BROADBAND-A [LBRDA]
EQUITY
530307107
-4,958
50.10
-248,395.80
-1.8
BILL HOLDINGS INC [BILL]
EQUITY
090043100
-4,233
59.61
-252,329.13
-1.8
IDEXX LABORATORIES INC [IDXX]
EQUITY
45168D104
-532
476.35
-253,418.20
-1.8
FMC CORP [FMC]
EQUITY
302491303
-4,439
57.82
-256,662.98
-1.8
CHOICE HOTELS INTL INC [CHH]
EQUITY
169905106
-2,226
116.35
-258,995.10
-1.9
SOUTHWEST AIRLINES CO [LUV]
EQUITY
844741108
-8,843
29.38
-259,807.34
-1.9
ULTRAGENYX PHARMACEUTICAL IN [RARE]
EQUITY
90400D108
-6,192
42.37
-262,355.04
-1.9
HUMANA INC [HUM]
EQUITY
444859102
-808
328.33
-265,290.64
-1.9
DOLLAR GENERAL CORP [DG]
EQUITY
256677105
-1,861
144.82
-269,510.02
-1.9
DOLLAR TREE INC [DLTR]
EQUITY
256746108
-2,224
122.03
-271,394.72
-1.9
MCDONALD'S CORP [MCD]
EQUITY
580135101
-1,010
271.99
-274,709.90
-2.0
GLOBUS MEDICAL INC - A [GMED]
EQUITY
379577208
-5,470
50.35
-275,414.50
-2.0
DELTA AIR LINES INC [DAL]
EQUITY
247361702
-6,221
47.57
-295,932.97
-2.1
NORWEGIAN CRUISE LINE HOLDIN [NCLH]
EQUITY
G66721104
-16,832
18.29
-307,857.28
-2.2
TKO GROUP HOLDINGS INC [TKO]
EQUITY
87256C101
-3,249
95.52
-310,344.48
-2.2
ALCOA CORP [AA]
EQUITY
013872106
-8,740
35.53
-310,532.20
-2.2
NEW FORTRESS ENERGY INC [NFE]
EQUITY
644393100
-11,550
28.06
-324,093.00
-2.3
PENN ENTERTAINMENT INC [PENN]
EQUITY
707569109
-20,493
16.54
-338,954.22
-2.4
R1 RCM INC [RCM]
EQUITY
77634L105
-28,770
11.99
-344,952.30
-2.5
SOTERA HEALTH CO [SHC]
EQUITY
83601L102
-32,534
10.95
-356,247.30
-2.6
ZOOMINFO TECHNOLOGIES INC [ZI]
EQUITY
98980F104
-24,279
15.53
-377,052.87
-2.7
WARNER BROS DISCOVERY INC [WBD]
EQUITY
934423104
-46,732
8.40
-392,548.80
-2.8
MP MATERIALS CORP [MP]
EQUITY
553368101
-27,444
16.45
-451,453.80
-3.2
AGILON HEALTH INC [AGL]
EQUITY
00857U107
-89,797
5.46
-490,291.62
-3.5
Total
--
--
--
--
--
8,022
58.2
Cash and Other Assets Less Liabilities
--
--
--
--
--
--
41.8
Total Net Assets
--
--
--
--
--
--
100%

Investment Team


Sub-adviser logo

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

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Investing involves risk, principal loss is possible. Unlike mutual funds, ETFs may trade at a premium or discount to their net asset value.

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

There is no guarantee that the investment objective of the Fund will be achieved. Stock markets are volatile and equity values can decline significantly in response to adverse issuer, political, regulatory, market and economic conditions. Short selling securities could potentially have unlimited loss due to the price of securities sold short increasing beyond the cost of replacement and the limitless increase on the value of a security. The Fund utilizes a quantitative model and there are limitations in every quantitative model. There can be no assurances that the strategies pursued or the techniques implemented in the quantitative model will be profitable, and various market conditions may be materially less favorable to certain strategies than others.

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

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

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

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

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

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

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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 © 2024 Harbor Capital Advisors, Inc. All rights reserved.