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Harbor International Small Cap Fund (HAISX)

Overview
Performance
Holdings
Investment Team
Documents

Overview

Current Price

as of 9/23/2022

NAV Price

$12.01

NAV Daily Change ($)

-$0.40

NAV Daily Change (%)

-3.22%

NAV YTD Return

-20.83%

Fund Facts

Inception Date

2/1/2016

Net Expense Ratio

0.96%disclaimer

Gross Expense Ratio

1.25%

Total Net Assets (million)

as of 8/31/2022

$67.665

Ticker

HAISX

Fund Number

2039

Share Class

Institutional

Top Ten Holdings

as of 6/30/2022

Serco Group plc [SRP]

1.9%

Victrex plc [VCT]

1.9%

Virgin Money UK Plc [VMUK]

1.8%

Resorttrust Inc. [4681]

1.8%

OPTEX GROUP Company Limited [6914]

1.8%

TietoEVRY Oyj [TIETO]

1.7%

Loomis AB [LOOMIS]

1.7%

Paltac Corporation [8283]

1.7%

BeNext-Yumeshin Group Co. [2154]

1.7%

Glanbia Plc [GL9]

1.7%

% of Total Holdings:

17.7%

left quote

"We invest like business owners — as opposed to short-term traders — carefully analyzing all facets of a company’s operations, balance sheet, management, industry, etc.”

right quote

Waldemar Mozes. Director of Investments and Portfolio Manager

Cedar Street Asset Management, LLC

Performance

Total Returns

MONTH-END
QUARTER-END
MONTH-BY-MONTH
YEAR-BY-YEAR

Fund Name

3 Mo.

YTD Return

1 Yr.

3 Yr.

5 Yr.

Since Inception

Net Expense Ratio

Gross Expense Ratio

International Small Cap Fund

-7.02%

-14.44%

-17.02%

7.96%

3.14%

6.89%

0.96%disclaimer

1.25%

MSCI EAFE Small Cap (ND) Index

-9.30%

-23.29%

-25.98%

2.85%

1.21%

5.65%

--

--

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.

The MSCI EAFE Small Cap (ND) Index is an equity index which captures small cap representation across developed market countries around the world, excluding the U.S. and Canada. This unmanaged index does not reflect fees and expenses and is not available for direct investment.

Price History

CHART
TABLE

Record Date

Reinvest Date

Payable Date

Return of Capital Non Taxable Dist

Ordinary Income

Total Capital Gains

Short Term Capital Gains

Mid Term Capital Gains

Long Term Capital Gains

Total Distribution

Foreign Tax Credit

Reinvest Price

12/17/2021

12/20/2021

12/20/2021

0.00000

0.27023

0.82210

0.27586

0.00000

0.54624

1.09233

0.03075

--

12/16/2020

12/17/2020

12/17/2020

0.00000

0.16564

0.00000

0.00000

0.00000

0.00000

0.16564

0.02215

13.89

12/13/2019

12/16/2019

12/16/2019

0.00000

0.35321

0.00000

0.00000

0.00000

0.00000

0.35321

0.04535

12.94

12/14/2018

12/17/2018

12/17/2018

0.00000

0.08927

0.37506

0.00000

0.00000

0.37506

0.46433

0.01969

10.96

12/15/2017

12/18/2017

12/18/2017

0.00000

0.08125

0.10415

0.00000

0.00000

0.10415

0.18540

0.01049

13.96

12/16/2016

12/19/2016

12/19/2016

0.00000

0.12230

0.00000

0.00000

0.00000

0.00000

0.12230

0.01395

10.31

Holdings

Portfolio Characteristics

as of 6/30/2022

International Small Cap Fund

Number of Holdings

79

Wtd Avg Market Cap ($Mil)

1851.4

Price/Book Ratio

1.44

Adjusted Trailing P/E Ratio

11.4

% EPS Growth - Past 3 Yr

2.1

Return on Equity (%)

10.95

Forecasted P/E Ratio

10.8

Proj. Earnings Growth Rate (%)

11.6

Top Ten Holdings

as of 6/30/2022

Company Name [Ticker]

% of Net Assets

Serco Group plc[SRP]

1.9

Victrex plc[VCT]

1.9

Virgin Money UK Plc[VMUK]

1.8

Resorttrust Inc.[4681]

1.8

OPTEX GROUP Company Limited[6914]

1.8

TietoEVRY Oyj[TIETO]

1.7

Loomis AB[LOOMIS]

1.7

Paltac Corporation[8283]

1.7

BeNext-Yumeshin Group Co.[2154]

1.7

Glanbia Plc[GL9]

1.7

% of Total Holdings:

17.7%

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

as of 6/30/2022

Company Name [Ticker]

Country

Shares (000's)

Current Price ($)

Market Value ($000's)

% of Net Assets

Serco Group plc [SRP]

United Kingdom

698

2.12

1,478

1.9

Victrex plc [VCT]

United Kingdom

68

21.61

1,462

1.9

Virgin Money UK Plc [VMUK]

United Kingdom

858

1.59

1,362

1.8

Resorttrust Inc. [4681]

Japan

83

16.34

1,353

1.8

OPTEX GROUP Company Limited [6914]

Japan

90

14.87

1,342

1.8

TietoEVRY Oyj [TIETO]

Finland

53

24.63

1,304

1.7

Loomis AB [LOOMIS]

Sweden

53

24.28

1,284

1.7

Paltac Corporation [8283]

Japan

41

30.92

1,278

1.7

BeNext-Yumeshin Group Co. [2154]

Japan

115

11.03

1,272

1.7

Glanbia Plc [GL9]

Ireland

117

10.80

1,267

1.7

Qol Holdings Co. Ltd. [3034]

Japan

121

10.39

1,260

1.7

ROUND ONE Corporation [4680]

Japan

111

11.24

1,253

1.7

Criteo SA Sponsored ADR [CRTO]

France

51

24.40

1,249

1.6

BFF Bank SpA [BFF]

Italy

181

6.71

1,213

1.6

Venture Corporation Limited [V03]

Singapore

102

11.95

1,213

1.6

Coface SA [COFA]

France

116

10.42

1,204

1.6

MaireTecnimont SpA [MT]

Italy

417

2.86

1,194

1.6

ASR Nederland NV [ASRNL]

Netherlands

29

40.32

1,175

1.5

Technip Energies NV [TE]

France

94

12.44

1,170

1.5

Mapfre SA [MAP]

Spain

663

1.76

1,166

1.5

C&C Group Plc [CCR]

United Kingdom

517

2.24

1,158

1.5

Direct Line Insurance Group Plc [DLG]

United Kingdom

377

3.06

1,152

1.5

Anritsu Corporation [6754]

Japan

105

10.81

1,137

1.5

Aryzta AG [ARYN]

Switzerland

1,015

1.11

1,125

1.5

Computer Engineering & Consulting Ltd. [9692]

Japan

133

8.42

1,119

1.5

Landis+Gyr Group AG [LAND]

Switzerland

21

52.28

1,118

1.5

Redde Northgate PLC [REDD]

United Kingdom

273

4.09

1,116

1.5

Amano Corporation [6436]

Japan

64

17.26

1,111

1.5

X-FAB Silicon Foundries SE [XFAB]

France

170

6.50

1,107

1.5

Morinaga & Co. Ltd. [2201]

Japan

34

32.02

1,098

1.4

ISS A/S [ISS]

Denmark

69

15.73

1,078

1.4

Johnson Electric Holdings Limited [179]

Hong Kong

820

1.30

1,066

1.4

TP ICAP Group plc [TCAP]

United Kingdom

784

1.36

1,069

1.4

Coats Group plc [COA]

United Kingdom

1,396

0.76

1,056

1.4

Japfa Ltd. [UD2]

Singapore

2,469

0.43

1,056

1.4

Cembra Money Bank AG [CMBN]

Switzerland

15

71.24

1,050

1.4

Nabtesco Corporation [6268]

Japan

45

23.33

1,054

1.4

Neo Performance Materials Inc. [NEO]

Canada

108

9.64

1,042

1.4

OSG Corp [6136]

Japan

89

11.60

1,037

1.4

NORMA Group SE [NOEJ]

Germany

45

22.27

1,008

1.3

Beach Energy Limited [BPT]

Australia

843

1.19

1,000

1.3

Daiwabo Holdings Co. Ltd. [3107]

Japan

75

13.02

981

1.3

RTL Group S.A. [RRTL]

Germany

24

41.65

983

1.3

Navigator Company SA [NVG]

Portugal

244

4.01

977

1.3

Ansell Limited [ANN]

Australia

63

15.29

967

1.3

Elders Limited [ELD]

Australia

112

8.66

969

1.3

ENAV S.p.A. [ENAV]

Italy

233

4.17

969

1.3

Atresmedia Corporacion de Medios de Comunicacion SA [A3M]

Spain

276

3.44

952

1.3

Krones AG [KRN]

Germany

12

76.11

949

1.3

Ontex Group N.V. [ONTEX]

Belgium

122

7.81

954

1.3

Eiken Chemical Co. Ltd. [4549]

Japan

71

13.13

928

1.2

Mersen SA [MRN]

France

30

29.74

907

1.2

TomTom NV [TOM2]

Netherlands

122

7.38

897

1.2

INDUS Holding AG [INH]

Germany

32

23.21

735

1.0

HENSOLDT AG [HAG]

Germany

26

25.20

658

0.9

Husqvarna AB Class B [HUSQ.B]

Sweden

88

7.34

644

0.9

Tower Semiconductor Ltd [TSEM]

United States

11

46.18

513

0.7

Mears Group PLC [MER]

United Kingdom

199

2.30

456

0.6

B&S Group S.A. [BSGR]

Netherlands

69

5.23

359

0.5

BillerudKorsnas AB TEMP [BILL.BTA]

Sweden

5

11.71

64

0.1

A.G. BARR p.l.c. [BAG]

United Kingdom

3

6.28

21

0.0

Total

--

--

--

63,139

83.7

Cash and Other Assets Less Liabilities

--

--

--

--

16.3

Total Net Assets

--

--

--

--

100%

as of 6/30/2022

Economic Sector

International Small Cap Fund %

MSCI EAFE Small Cap (ND) Index %

Industrials

20.8

22.2

Information Technology

15.5

9.3

Financials

12.3

11.5

Consumer Staples

11.7

6.5

Consumer Discretionary

8.4

12.0

Materials

4.7

9.4

Communication Services

4.2

4.4

Energy

2.9

2.7

Health Care

2.5

6.9

Real Estate

0.0

12.1

Utilities

0.0

3.3

as of 6/30/2022

Economic Sector

International Small Cap Fund %

MSCI EAFE Small Cap (ND) Index %

Energy

3.1

-9.2

[Unassigned]

0.0

-7.3

Utilities

0.0

-10.9

Real Estate

0.0

-19.9

Consumer Staples

-3.0

-10.4

Materials

-9.7

-22.9

Information Technology

-10.0

-21.8

Consumer Discretionary

-11.2

-17.3

Health Care

-11.4

-17.3

Financials

-13.0

-15.6

Industrials

-13.8

-17.1

Communication Services

-14.8

-19.1

as of 6/30/2022

Country

International Small Cap Fund %

MSCI EAFE Small Cap (ND) Index %

Japan

21.3

30.5

United Kingdom

13.6

16.7

France

7.4

3.7

Germany

5.7

4.6

Italy

4.4

3.0

Switzerland

4.3

4.7

Australia

3.9

10.0

Netherlands

3.2

1.9

Singapore

3.0

2.4

Spain

2.8

1.9

Other

30.4

20.6

Investment Team

Cedar Street Asset Management LLC


Cedar Street Asset Management LLC is an employee-owned investment firm focused on small capitalization value investing in international markets. The firm strives to generate superior risk-adjusted returns, employing a consistent and repeatable investment methodology in an entrepreneurial, team-oriented, and respectful work environment, where clients’ interests are paramount to any other interest. The firm utilizes a fundamental and qualitative approach to value investing, which includes cross disciplinary and language capabilities.

Documents

Fund Documents

From time to time, certain fees and/or expenses have been voluntarily or contractually waived or reimbursed, which has resulted in higher returns. Without these waivers or reimbursements, the returns would have been lower. Voluntary waivers or reimbursements may be applied or discontinued at any time without notice. Only the Board of Trustees may modify or terminate contractual fee waivers or expense reimbursements.

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. Investing in international and emerging markets poses special risks, including potentially greater price volatility due to social, political and economic factors, as well as currency exchange rate fluctuations. These risks are more severe for securities of issuers in emerging market regions. Stocks of small cap companies pose special risks, including possible illiquidity and greater price volatility than stocks of larger, more established companies.

blue background

Harbor Funds Distributors, Inc. is the Distributor of the Harbor Mutual Funds.
Foreside Fund Services, LLC is the Distributor of the Harbor ETFs.

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 © 2022 Harbor Capital Advisors, Inc. All rights reserved.