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Harbor International Small Cap Fund (HAISX)

Overview
Performance
Holdings
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Class

Overview

Investment Team
Cedar Street Asset Management LLC

Current Price

Current Price

As of 6/2/2023

$14.19

Price (NAV)

$0.15

NAV Daily Change ($)

1.07%

NAV Daily Change (%)

4.65%

NAV YTD Return

Fund Facts

As of 5/31/2023

2/1/2016

Inception Date

0.96

Net Expense Ratio
disclaimer

1.19

Gross Expense Ratio

$217.386

Total Net Assets (million)
As of 5/31/2023

HAISX

Ticker

2039

Fund Number

Institutional Class

Share Class

Top Ten Holdings

As of 3/31/2023

Company Name [Ticker]

% of Net Assets

Aryzta AG[ARYN]

1.9

Glanbia Plc[GL9]

1.9

MaireTecnimont SpA[MAIRE]

1.8

Criteo SA Sponsored ADR[CRTO]

1.8

Technip Energies NV[TE]

1.8

Construcciones y Auxiliar de Ferrocarriles S.A.[CAF]

1.8

Fagron SA[FAGR]

1.7

ARIAKE JAPAN Co. Ltd.[2815]

1.7

TietoEVRY Oyj[TIETO]

1.7

Daiwabo Holdings Co. Ltd.[3107]

1.7

% of Total Holdings:

17.8%

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.”

Waldemar Mozes. Director of Investments and Portfolio Manager

Cedar Street Asset Management, LLC

right quote

Performance

Total Returns

Month-End

Fund Name

3 Mo.

YTD Return

1 Yr.

3 Yr.

5 Yr.

Since Inception

Net Expense Ratio

Gross Expense Ratio

International Small Cap Fund

-3.01%

2.21%

1.86%

13.08%

3.31%

7.50%

0.96%disclaimer

1.19%

MSCI EAFE Small Cap (ND) Index

-2.45%

2.56%

-4.68%

5.17%

0.33%

5.78%

--

--

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

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

12/16/2022

12/19/2022

12/19/2022

0.00000

0.15275

0.19541

0.02638

0.00000

0.16903

0.34816

0.01856

13.40

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

14.50

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 3/31/2023

83

Number of Holdings

1924.3

Wtd Avg Market Cap ($Mil)

1.49

Price/Book Ratio

15

Adjusted Trailing P/E Ratio

12.3

% EPS Growth - Past 3 Yr

10.72

Return on Equity (%)

12

Forecasted P/E Ratio

Top Ten Holdings

As of 3/31/2023

Company Name [Ticker]

% of Net Assets

Aryzta AG[ARYN]

1.9

Glanbia Plc[GL9]

1.9

MaireTecnimont SpA[MAIRE]

1.8

Criteo SA Sponsored ADR[CRTO]

1.8

Technip Energies NV[TE]

1.8

Construcciones y Auxiliar de Ferrocarriles S.A.[CAF]

1.8

Fagron SA[FAGR]

1.7

ARIAKE JAPAN Co. Ltd.[2815]

1.7

TietoEVRY Oyj[TIETO]

1.7

Daiwabo Holdings Co. Ltd.[3107]

1.7

% of Total Holdings:

17.8%

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 3/31/2023

Company Name [Ticker]

Country

Shares (000's)

Current Price ($)

Market Value ($000's)

% of Net Assets

Aryzta AG [ARYN]

2,511

1.70

4,260

1.9

Glanbia Plc [GL9]

290

14.51

4,211

1.9

MaireTecnimont SpA [MAIRE]

958

4.30

4,118

1.8

Criteo SA Sponsored ADR [CRTO]

126

31.50

3,976

1.8

Technip Energies NV [TE]

186

21.35

3,975

1.8

Construcciones y Auxiliar de Ferrocarriles S.A. [CAF]

142

27.81

3,940

1.8

Fagron SA [FAGR]

229

17.09

3,908

1.7

ARIAKE JAPAN Co. Ltd. [2815]

106

36.67

3,869

1.7

TietoEVRY Oyj [TIETO]

123

31.42

3,867

1.7

Daiwabo Holdings Co. Ltd. [3107]

230

16.40

3,773

1.7

Morinaga & Co. Ltd. [2201]

134

28.21

3,775

1.7

Loomis AB [LOOMIS]

110

34.23

3,764

1.7

Landis+Gyr Group AG [LAND]

49

76.68

3,727

1.7

Transcontinental Inc. Class A [TCL.A]

357

10.37

3,704

1.7

Cembra Money Bank AG [CMBN]

47

78.65

3,658

1.6

ASR Nederland N.V. [ASRNL]

91

39.92

3,632

1.6

Rubis SCA [RUI]

136

26.80

3,633

1.6

Virgin Money UK Plc [VMUK]

1,976

1.80

3,565

1.6

BFF Bank SpA [BFF]

354

9.94

3,518

1.6

Husqvarna AB Class B [HUSQ.B]

407

8.66

3,528

1.6

Serco Group plc [SRP]

1,858

1.90

3,524

1.6

Victrex plc [VCT]

179

19.70

3,518

1.6

X-FAB Silicon Foundries SE [XFAB]

372

9.44

3,515

1.6

Eiken Chemical Co. Ltd. [4549]

292

11.74

3,432

1.5

Amano Corporation [6436]

182

18.75

3,410

1.5

Ansell Limited [ANN]

192

17.77

3,413

1.5

Coats Group plc [COA]

3,745

0.91

3,413

1.5

TP ICAP Group plc [TCAP]

1,539

2.23

3,427

1.5

Fuji Seal International Inc. [7864]

297

11.35

3,372

1.5

Venture Corporation Limited [V03]

255

13.29

3,383

1.5

Paltac Corporation [8283]

89

37.72

3,342

1.5

RTL Group S.A. [RRTL]

68

49.37

3,353

1.5

JEOL Ltd. [6951]

104

31.90

3,317

1.5

ROUND ONE Corporation [4680]

868

3.84

3,332

1.5

Arjo AB Class B [ARJO.B]

847

3.90

3,306

1.5

Singapore Post Ltd. [S08]

8,699

0.38

3,271

1.5

C&C Group Plc [CCR]

1,644

1.94

3,193

1.4

Elders Limited [ELD]

554

5.78

3,203

1.4

OSG Corp [6136]

214

14.94

3,195

1.4

Coface SA [COFA]

223

14.18

3,166

1.4

Resorttrust Inc. [4681]

200

15.85

3,173

1.4

TomTom NV [TOM2]

383

8.20

3,136

1.4

Ontex Group N.V. [ONTEX]

418

7.46

3,122

1.4

Redde Northgate PLC [REDD]

724

4.27

3,094

1.4

Atresmedia Corporacion de Medios de Comunicacion SA [A3M]

811

3.77

3,062

1.4

NORMA Group SE [NOEJ]

129

23.64

3,056

1.4

GLOBERIDE Inc. [7990]

161

18.58

2,999

1.3

Open Up Group Inc. [2154]

207

14.42

2,981

1.3

Nabtesco Corporation [6268]

122

24.34

2,961

1.3

Anritsu Corporation [6754]

320

9.17

2,935

1.3

Mersen SA [MRN]

66

44.60

2,927

1.3

Computer Engineering & Consulting Ltd. [9692]

296

9.60

2,838

1.3

Krones AG [KRN]

24

118.10

2,780

1.2

METAWATER Co.Ltd. [9551]

214

12.98

2,776

1.2

ISS A/S [ISS]

129

20.36

2,629

1.2

Bapcor Ltd [BAP]

580

4.27

2,477

1.1

Mapfre SA [MAP]

1,165

2.02

2,352

1.1

OPTEX GROUP Company Limited [6914]

152

15.60

2,369

1.1

AT & S Austria Technologie & Systemtechnik Aktiengesellschaft [ATS]

74

30.80

2,283

1.0

Spin Master Corp [TOY]

79

27.76

2,202

1.0

INDUS Holding AG [INH]

79

27.16

2,133

1.0

Johnson Electric Holdings Limited [179]

1,647

1.13

1,868

0.8

Qol Holdings Co. Ltd. [3034]

206

8.72

1,795

0.8

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

231

6.23

1,441

0.6

Direct Line Insurance Group Plc [DLG]

840

1.70

1,428

0.6

Neo Performance Materials Inc. [NEO]

205

6.86

1,406

0.6

Mears Group PLC [MER]

199

2.45

487

0.2

Japfa Ltd. [UD2]

2,542

0.17

440

0.2

Genuit Group PLC [GEN]

96

3.45

332

0.2

AustAsia Group Limited. [2425]

508

0.41

209

0.1

Total

--

--

--

211,174

94.3

Cash and Other Assets Less Liabilities

--

--

--

--

5.7

Total Net Assets

--

--

--

--

100%

As of 3/31/2023

International Small Cap Fund (HAISX)

MSCI EAFE Small Cap (ND) Index

-

Industrials

HAISX: 22.9%

Benchmark: 23.2%

-

Information Technology

HAISX: 15.7%

Benchmark: 9.7%

-

Consumer Staples

HAISX: 13.1%

Benchmark: 6.3%

-

Financials

HAISX: 11.0%

Benchmark: 11.4%

-

Consumer Discretionary

HAISX: 10.1%

Benchmark: 13.0%

-

Health Care

HAISX: 7.7%

Benchmark: 6.4%

-

Materials

HAISX: 5.3%

Benchmark: 9.8%

-

Communication Services

HAISX: 4.6%

Benchmark: 4.2%

-

Energy

HAISX: 1.8%

Benchmark: 2.8%

-

Utilities

HAISX: 1.6%

Benchmark: 3.1%

-

Real Estate

HAISX: 0.0%

Benchmark: 10.4%

HAISX: International Small Cap Fund

Benchmark: MSCI EAFE Small Cap (ND) Index

As of 3/31/2023

Economic Sector

International Small Cap Fund %

MSCI EAFE Small Cap (ND) Index %

Energy

Economic sector icon

34.5

2.3

Communication Services

Economic sector icon

17.5

7.7

Industrials

Economic sector icon

8.7

8.4

Information Technology

Economic sector icon

6.9

11.3

Consumer Staples

Economic sector icon

5.7

2.5

Health Care

Economic sector icon

4.5

0.2

Utilities

Economic sector icon

2.1

0.3

Consumer Discretionary

Economic sector icon

0.1

8.4

Real Estate

Economic sector icon

0.0

-2.5

Financials

Economic sector icon

-2.2

-0.4

Materials

Economic sector icon

-2.7

7.4

As of 3/31/2023

Country

International Small Cap Fund %

MSCI EAFE Small Cap (ND) Index %

Japan

26.5

31.5

United Kingdom

12.2

14.9

France

9.4

4.0

Switzerland

5.2

4.9

Germany

5.0

4.9

Sweden

4.7

6.0

Spain

4.2

1.9

Australia

4.0

9.8

Italy

3.4

3.6

Canada

3.3

--

Other

22.1

18.5

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 strong 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

Name

Date

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.

As a result of changing market conditions, total net asset levels, expenses and other factors may change at any time during the current fiscal period and may differ from those shown.

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.

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.

2643822 

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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.

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