Harbor Logo in white color

Harbor Large Cap Value Fund (HAVLX)

Overview

Investment Team
Management Team Logo

Current Price

Current Price

As of 6/2/2023

$19.50

Price (NAV)

$0.41

NAV Daily Change ($)

2.15%

NAV Daily Change (%)

4.25%

NAV YTD Return

Fund Facts

As of 5/31/2023

12/29/1987

Inception Date

0.69

Net Expense Ratio
disclaimer

0.72

Gross Expense Ratio

$656.056

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

HAVLX

Ticker

2013

Fund Number

Institutional Class

Share Class

Top Ten Holdings

As of 3/31/2023

Company Name [Ticker]

% of Net Assets

Microsoft Corporation[MSFT]

4.0

Corteva Inc[CTVA]

3.8

Microchip Technology Incorporated[MCHP]

3.1

ANSYS Inc.[ANSS]

3.1

Parker-Hannifin Corporation[PH]

3.0

Danaher Corporation[DHR]

2.8

Lennar Corporation Class A[LEN]

2.8

Adobe Incorporated[ADBE]

2.8

Ameriprise Financial Inc.[AMP]

2.7

Merck & Co. Inc.[MRK]

2.7

% of Total Holdings:

30.8%

Morningstar Medalist Rating™

Morningstar Bronze
Analyst-Driven %
55
Data Coverage %
100
As of 3/31/2023
left quote

“The noise of the stock market can distract one from their original purpose: investing in a business.”

Greg Padilla

CFA, Principal, Portfolio Manager, Senior Global Research Analyst, Aristotle Capital Management, LLC

right quote

Performance

Total Returns

Month-End

Fund Name

3 Mo.

YTD Return

1 Yr.

3 Yr.

5 Yr.

10 Yr.

Since Inception

Net Expense Ratio

Gross Expense Ratio

Large Cap Value Fund

-1.94%

1.04%

-4.97%

10.92%

8.05%

10.75%

9.87%

0.69%disclaimer

0.72%

Russell 1000® Value Index

-2.86%

-1.43%

-4.55%

11.63%

6.78%

8.42%

10.07%

--

--

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 Russell 1000® Value Index is an unmanaged index generally representative of the U.S. market for larger capitalization value stocks. This unmanaged index does not reflect fees and expenses and is not available for direct investment. The Russell 1000® Value Index and Russell® are trademarks of Frank Russell Company.

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

3/30/2023

3/31/2023

3/31/2023

0.00000

0.06686

0.00000

--

0.00000

--

0.06686

0.00000

--

12/16/2022

12/19/2022

12/19/2022

0.00000

0.12412

0.72018

--

0.00000

0.72018

0.84430

0.00000

18.49

6/28/2022

6/29/2022

6/29/2022

0.00000

0.11915

0.00000

--

0.00000

--

0.11915

0.00000

18.86

12/17/2021

12/20/2021

12/20/2021

0.00000

0.08558

0.60531

0.05971

0.00000

0.54560

0.69089

0.00000

22.24

6/28/2021

6/29/2021

6/29/2021

0.00000

0.08248

0.00000

0.00000

0.00000

0.00000

0.08248

0.00000

22.38

12/16/2020

12/17/2020

12/17/2020

0.00000

0.07234

0.52102

0.00000

0.00000

0.52102

0.59336

0.00000

19.02

6/26/2020

6/29/2020

6/29/2020

0.00000

0.07272

0.00000

0.00000

0.00000

0.00000

0.07272

0.00000

15.66

12/13/2019

12/16/2019

12/16/2019

0.00000

0.07480

0.00000

0.00000

0.00000

0.00000

0.07480

0.00000

17.31

6/26/2019

6/27/2019

6/27/2019

0.00000

0.07897

0.00000

0.00000

0.00000

0.00000

0.07897

0.00000

15.52

12/14/2018

12/17/2018

12/17/2018

0.00000

0.07297

0.23420

0.01792

0.00000

0.21628

0.30717

0.00000

13.44

6/27/2018

6/28/2018

6/28/2018

0.00000

0.06754

0.00000

0.00000

0.00000

0.00000

0.06754

0.00000

14.91

12/15/2017

12/18/2017

12/18/2017

0.00000

0.05315

0.41288

0.01351

0.00000

0.39937

0.46603

0.00000

14.89

6/28/2017

6/29/2017

6/29/2017

0.00000

0.06728

0.00000

0.00000

0.00000

0.00000

0.06728

0.00000

13.91

12/16/2016

12/19/2016

12/19/2016

0.00000

0.06832

0.42776

0.00619

0.00000

0.42157

0.49608

0.00000

12.75

6/28/2016

6/29/2016

6/29/2016

0.00000

0.06168

0.00000

0.00000

0.00000

0.00000

0.06168

0.00000

11.65

12/16/2015

12/17/2015

12/17/2015

0.00000

0.06913

0.51475

0.17494

0.00000

0.33981

0.58388

0.00000

11.25

6/26/2015

6/29/2015

6/29/2015

0.00000

0.06401

0.00000

0.00000

0.00000

0.00000

0.06401

0.00000

12.12

12/17/2014

12/18/2014

12/18/2014

0.00000

0.07675

0.78517

0.00000

0.00000

0.78517

0.86192

0.00000

11.61

6/25/2014

6/26/2014

6/26/2014

0.00000

0.05760

0.00000

0.00000

0.00000

0.00000

0.05760

0.00000

12.24

12/16/2013

12/17/2013

12/17/2013

0.00000

0.07590

0.00000

0.00000

0.00000

0.00000

0.07590

0.00000

10.85

6/26/2013

6/27/2013

6/27/2013

0.00000

0.05397

0.00000

0.00000

0.00000

0.00000

0.05397

0.00000

9.76

12/14/2012

12/17/2012

12/17/2012

0.00000

0.06916

0.00000

0.00000

0.00000

0.00000

0.06916

0.00000

8.76

6/27/2012

6/28/2012

6/28/2012

0.00000

0.11707

0.00000

0.00000

0.00000

0.00000

0.11707

0.00000

7.70

12/15/2011

12/16/2011

12/16/2011

0.00000

0.07159

0.00000

0.00000

0.00000

0.00000

0.07159

0.00000

7.20

6/28/2011

6/29/2011

6/29/2011

0.00000

0.05572

0.00000

0.00000

0.00000

0.00000

0.05572

0.00000

7.86

12/16/2010

12/17/2010

12/17/2010

0.00000

0.06621

0.00000

0.00000

0.00000

0.00000

0.06621

0.00000

7.45

6/28/2010

6/29/2010

6/29/2010

0.00000

0.04568

0.00000

0.00000

0.00000

0.00000

0.04568

0.00000

6.43

12/17/2009

12/18/2009

12/18/2009

0.00000

0.05121

0.00000

0.00000

0.00000

0.00000

0.05121

0.00000

6.96

6/26/2009

6/29/2009

6/29/2009

0.00000

0.06558

0.00000

0.00000

0.00000

0.00000

0.06558

0.00000

6.06

12/18/2008

12/19/2008

12/19/2008

0.00000

0.08701

0.00000

0.00000

0.00000

0.00000

0.08701

0.00000

6.03

6/26/2008

6/27/2008

6/27/2008

0.00000

0.10186

0.00000

0.00000

0.00000

0.00000

0.10186

0.00000

8.42

12/18/2007

12/19/2007

12/19/2007

0.00000

0.08389

10.66327

1.25237

0.00000

9.41090

10.74716

0.00000

9.32

6/27/2007

6/28/2007

6/28/2007

0.00000

0.15541

0.00000

0.00000

0.00000

0.00000

0.15541

0.00000

20.08

12/18/2006

12/19/2006

12/19/2006

0.00000

0.10127

0.27834

0.00000

0.00000

0.27834

0.37961

0.00000

19.31

6/28/2006

6/29/2006

6/29/2006

0.00000

0.10348

0.00000

0.00000

0.00000

0.00000

0.10348

0.00000

17.24

12/19/2005

12/20/2005

12/20/2005

0.00000

0.08475

0.00000

0.00000

0.00000

0.00000

0.08475

0.00000

17.15

6/28/2005

6/29/2005

6/29/2005

0.00000

0.07517

0.00000

0.00000

0.00000

0.00000

0.07517

0.00000

16.96

12/29/2004

12/30/2004

12/30/2004

0.00000

0.07998

0.00000

0.00000

0.00000

0.00000

0.07998

0.00000

16.34

6/28/2004

6/29/2004

6/29/2004

0.00000

0.06396

0.00000

0.00000

0.00000

0.00000

0.06396

0.00000

14.87

12/29/2003

12/30/2003

12/30/2003

0.00000

0.04730

0.00000

0.00000

0.00000

0.00000

0.04730

0.00000

14.33

6/26/2003

6/27/2003

6/27/2003

0.00000

0.04784

0.00000

0.00000

0.00000

0.00000

0.04784

0.00000

12.61

12/27/2002

12/30/2002

12/30/2002

0.00000

0.07795

0.00000

0.00000

0.00000

0.00000

0.07795

0.00000

11.26

6/25/2002

6/26/2002

6/27/2002

0.00000

0.02536

0.00000

0.00000

0.00000

0.00000

0.02536

0.00000

13.01

12/26/2001

12/27/2001

12/28/2001

0.00000

0.02356

0.00000

0.00000

0.00000

0.00000

0.02356

0.00000

14.36

9/26/2001

9/27/2001

9/28/2001

0.00000

0.05259

0.00000

0.00000

0.00000

0.00000

0.05259

0.00000

12.43

6/27/2001

6/28/2001

6/29/2001

0.00000

0.05990

0.00000

0.00000

0.00000

0.00000

0.05990

0.00000

14.50

3/28/2001

3/29/2001

3/30/2001

0.00000

0.06530

0.00000

0.00000

0.00000

0.00000

0.06530

0.00000

13.33

12/20/2000

12/21/2000

12/22/2000

0.00000

0.06673

0.18949

0.18949

0.00000

0.00000

0.25622

0.00000

13.38

9/27/2000

9/28/2000

9/29/2000

0.00000

0.06836

0.00000

0.00000

0.00000

0.00000

0.06836

0.00000

13.48

6/28/2000

6/29/2000

6/30/2000

0.00000

0.06771

0.00000

0.00000

0.00000

0.00000

0.06771

0.00000

13.21

3/29/2000

3/30/2000

3/31/2000

0.00000

0.06876

0.00000

0.00000

0.00000

0.00000

0.06876

0.00000

13.13

12/21/1999

12/22/1999

12/23/1999

0.00000

0.09090

1.57122

1.35908

0.00000

0.21214

1.66212

0.00000

13.18

9/27/1999

9/28/1999

9/30/1999

0.00000

0.05943

0.00000

0.00000

0.00000

0.00000

0.05943

0.00000

14.60

6/25/1999

6/28/1999

6/30/1999

0.00000

0.05348

0.00000

0.00000

0.00000

0.00000

0.05348

0.00000

16.36

3/26/1999

3/29/1999

3/31/1999

0.00000

0.05418

0.00000

0.00000

0.00000

0.00000

0.05418

0.00000

14.77

12/28/1998

12/29/1998

12/31/1998

0.00000

0.07987

1.62987

0.86028

0.00000

0.76959

1.70974

0.00000

14.31

9/25/1998

9/28/1998

9/30/1998

0.00000

0.07369

0.00000

0.00000

0.00000

0.00000

0.07369

0.00000

14.34

6/25/1998

6/26/1998

6/30/1998

0.00000

0.06193

0.00000

0.00000

0.00000

0.00000

0.06193

0.00000

16.18

3/26/1998

3/27/1998

3/31/1998

0.00000

0.05690

0.00000

0.00000

0.00000

0.00000

0.05690

0.00000

16.97

12/24/1997

12/26/1997

12/31/1997

0.00000

0.08986

3.74026

2.29233

1.04633

0.40160

3.83012

0.00000

14.79

9/24/1997

9/25/1997

9/30/1997

0.00000

0.07527

0.00000

0.00000

0.00000

0.00000

0.07527

0.00000

18.72

6/24/1997

6/25/1997

6/30/1997

0.00000

0.07892

0.00000

0.00000

0.00000

0.00000

0.07892

0.00000

17.15

3/24/1997

3/25/1997

3/31/1997

0.00000

0.08311

0.00000

0.00000

0.00000

0.00000

0.08311

0.00000

15.56

12/24/1996

12/26/1996

12/31/1996

0.00000

0.09867

2.00132

1.48504

0.00000

0.51628

2.09999

0.00000

14.88

9/24/1996

9/25/1996

9/30/1996

0.00000

0.10290

0.00000

0.00000

0.00000

0.00000

0.10290

0.00000

15.68

6/24/1996

6/25/1996

6/28/1996

0.00000

0.11224

0.00000

0.00000

0.00000

0.00000

0.11224

0.00000

15.38

3/25/1996

3/26/1996

3/29/1996

0.00000

0.08818

0.00000

0.00000

0.00000

0.00000

0.08818

0.00000

15.18

12/22/1995

12/26/1995

12/29/1995

0.00000

0.09510

1.26972

1.14873

0.00000

0.12099

1.36482

0.00000

14.17

9/22/1995

9/25/1995

9/29/1995

0.00000

0.11320

0.00000

0.00000

0.00000

0.00000

0.11320

0.00000

14.60

6/23/1995

6/26/1995

6/30/1995

0.00000

0.09760

0.00000

0.00000

0.00000

0.00000

0.09760

0.00000

13.69

3/24/1995

3/27/1995

3/31/1995

0.00000

0.10213

0.00000

0.00000

0.00000

0.00000

0.10213

0.00000

12.94

12/23/1994

12/27/1994

12/30/1994

0.00000

0.08162

1.06568

0.47618

0.00000

0.58950

1.14730

0.00000

11.93

9/23/1994

9/26/1994

9/30/1994

0.00000

0.09634

0.00000

0.00000

0.00000

0.00000

0.09634

0.00000

13.24

6/24/1994

6/27/1994

6/30/1994

0.00000

0.08093

0.00000

0.00000

0.00000

0.00000

0.08093

0.00000

12.86

3/25/1994

3/28/1994

3/31/1994

0.00000

0.09986

0.00000

0.00000

0.00000

0.00000

0.09986

0.00000

12.85

12/23/1993

12/27/1993

12/31/1993

0.00000

0.06542

1.09656

0.00000

0.00000

1.09656

1.16198

0.00000

13.28

9/24/1993

9/27/1993

9/30/1993

0.00000

0.08515

0.00000

0.00000

0.00000

0.00000

0.08515

0.00000

14.18

6/25/1993

6/28/1993

6/30/1993

0.00000

0.08773

0.00000

0.00000

0.00000

0.00000

0.08773

0.00000

13.93

3/26/1993

3/29/1993

3/31/1993

0.00000

0.08707

0.00000

0.00000

0.00000

0.00000

0.08707

0.00000

14.37

12/24/1992

12/28/1992

12/31/1992

0.00000

0.08827

0.14672

0.01698

0.00000

0.12974

0.23499

0.00000

13.56

9/25/1992

9/28/1992

9/30/1992

0.00000

0.10014

0.00000

0.00000

0.00000

0.00000

0.10014

0.00000

13.51

6/24/1992

6/30/1992

6/30/1992

0.00000

0.09840

0.00000

0.00000

0.00000

0.00000

0.09840

0.00000

13.33

3/25/1992

3/31/1992

3/31/1992

0.00000

0.08937

0.00000

0.00000

0.00000

0.00000

0.08937

0.00000

12.97

12/26/1991

12/27/1991

12/31/1991

0.00000

0.12251

0.34568

0.03817

0.00000

0.30751

0.46819

0.00000

12.79

9/24/1991

9/25/1991

9/30/1991

0.00000

0.11336

0.00000

0.00000

0.00000

0.00000

0.11336

0.00000

13.16

6/24/1991

6/25/1991

6/28/1991

0.00000

0.11999

0.00000

0.00000

0.00000

0.00000

0.11999

0.00000

12.79

3/25/1991

3/26/1991

3/28/1991

0.00000

0.10784

0.00000

0.00000

0.00000

0.00000

0.10784

0.00000

13.01

12/24/1990

12/26/1990

12/31/1990

0.00000

0.13656

0.43255

0.12870

0.00000

0.30385

0.56911

0.00000

11.53

9/24/1990

9/25/1990

9/28/1990

0.00000

0.13380

0.00000

0.00000

0.00000

0.00000

0.13380

0.00000

11.15

6/25/1990

6/26/1990

6/29/1990

0.00000

0.12649

0.00000

0.00000

0.00000

0.00000

0.12649

0.00000

13.06

3/26/1990

3/27/1990

3/30/1990

0.00000

0.11995

0.00000

0.00000

0.00000

0.00000

0.11995

0.00000

12.72

12/21/1989

12/22/1989

12/30/1989

0.00000

0.12663

0.79563

0.19332

0.00000

0.60231

0.92226

0.00000

12.91

9/22/1989

9/25/1989

9/29/1989

0.00000

0.18042

0.00000

0.00000

0.00000

0.00000

0.18042

0.00000

13.98

6/23/1989

6/26/1989

6/30/1989

0.00000

0.10180

0.00000

0.00000

0.00000

0.00000

0.10180

0.00000

13.39

3/23/1989

3/27/1989

3/31/1989

0.00000

0.09670

0.00000

0.00000

0.00000

0.00000

0.09670

0.00000

11.82

12/23/1988

12/27/1988

12/30/1988

0.00000

0.10037

0.44007

0.44007

0.00000

0.00000

0.54044

0.00000

11.15

9/23/1988

9/26/1988

9/30/1988

0.00000

0.09044

0.00000

0.00000

0.00000

0.00000

0.09044

0.00000

11.19

6/23/1988

6/24/1988

6/30/1988

0.00000

0.08865

0.00000

0.00000

0.00000

0.00000

0.08865

0.00000

10.74

3/29/1988

3/30/1988

3/31/1988

0.00000

0.07259

0.00000

0.00000

0.00000

0.00000

0.07259

0.00000

10.25

Holdings

Portfolio Characteristics

As of 3/31/2023

44

Number of Holdings

160671.4

Wtd Avg Market Cap ($Mil)

4.97

Price/Book Ratio

26.1

Adjusted Trailing P/E Ratio

17

% EPS Growth - Past 3 Yr

15.73

Return on Equity (%)

20

Forecasted P/E Ratio

Top Ten Holdings

As of 3/31/2023

Company Name [Ticker]

% of Net Assets

Microsoft Corporation[MSFT]

4.0

Corteva Inc[CTVA]

3.8

Microchip Technology Incorporated[MCHP]

3.1

ANSYS Inc.[ANSS]

3.1

Parker-Hannifin Corporation[PH]

3.0

Danaher Corporation[DHR]

2.8

Lennar Corporation Class A[LEN]

2.8

Adobe Incorporated[ADBE]

2.8

Ameriprise Financial Inc.[AMP]

2.7

Merck & Co. Inc.[MRK]

2.7

% of Total Holdings:

30.8%

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

Microsoft Corporation [MSFT]

264

288.30

76,111

4.0

Corteva Inc [CTVA]

1,220

60.31

73,578

3.8

Microchip Technology Incorporated [MCHP]

709

83.78

59,400

3.1

ANSYS Inc. [ANSS]

178

332.80

59,238

3.1

Parker-Hannifin Corporation [PH]

172

336.11

57,811

3.0

Danaher Corporation [DHR]

216

252.04

54,441

2.8

Lennar Corporation Class A [LEN]

516

105.11

54,237

2.8

Adobe Incorporated [ADBE]

140

385.37

53,952

2.8

Ameriprise Financial Inc. [AMP]

168

306.50

51,492

2.7

Merck & Co. Inc. [MRK]

483

106.39

51,386

2.7

Martin Marietta Materials Inc. [MLM]

141

355.06

50,063

2.6

Sony Group Corporation Sponsored ADR [SONY]

543

90.65

49,223

2.6

QUALCOMM Incorporated [QCOM]

382

127.58

48,736

2.5

Coca-Cola Company [KO]

773

62.03

47,949

2.5

Amgen Inc. [AMGN]

197

241.75

47,625

2.5

Atmos Energy Corporation [ATO]

425

112.36

47,753

2.5

Xcel Energy Inc. [XEL]

703

67.44

47,410

2.5

Xylem Inc. [XYL]

442

104.70

46,277

2.4

Autodesk Inc. [ADSK]

216

208.16

44,963

2.4

Coterra Energy Inc. [CTRA]

1,834

24.54

45,006

2.4

Activision Blizzard Inc. [ATVI]

513

85.59

43,908

2.3

Honeywell International Inc. [HON]

230

191.12

43,958

2.3

Procter & Gamble Company [PG]

295

148.69

43,864

2.3

Cincinnati Financial Corporation [CINF]

384

112.08

43,039

2.3

Capital One Financial Corp [COF]

428

96.16

41,156

2.2

Crown Castle Inc. [CCI]

306

133.84

40,955

2.1

RPM International Inc. [RPM]

467

87.24

40,741

2.1

General Dynamics Corporation [GD]

178

228.21

40,621

2.1

Sysco Corporation [SYY]

517

77.23

39,928

2.1

Ecolab Inc. [ECL]

240

165.53

39,727

2.1

Alcon AG [ALC]

555

70.54

39,150

2.0

Blackstone Inc. [BX]

421

87.84

36,981

1.9

Constellation Brands Inc. Class A [STZ]

163

225.89

36,820

1.9

Cie Generale des Etablissements Michelin SA Unsponsored ADR [MGDDY]

2,389

15.29

36,525

1.9

Phillips 66 [PSX]

353

101.38

35,787

1.9

PNC Financial Services Group Inc. [PNC]

280

127.10

35,588

1.9

Cullen/Frost Bankers Inc. [CFR]

313

105.34

32,971

1.7

Medtronic Plc [MDT]

398

80.62

32,087

1.7

Equity LifeStyle Properties Inc. [ELS]

424

67.13

28,463

1.5

Mitsubishi UFJ Financial Group Inc. Sponsored ADR [MUFG]

4,072

6.39

26,020

1.4

Oshkosh Corp [OSK]

310

83.18

25,786

1.4

Commerce Bancshares Inc. [CBSH]

440

58.35

25,674

1.3

Lennar Corporation Class B [LEN.B]

7

89.31

636

0.0

Total

--

--

--

1,877,037

98.1

Cash and Other Assets Less Liabilities

--

--

--

--

1.9

Total Net Assets

--

--

--

--

100%

As of 3/31/2023

Large Cap Value Fund (HRLVX)

Russell 1000® Value Index

-

Information Technology

HRLVX: 17.9%

Benchmark: 8.0%

-

Financials

HRLVX: 15.3%

Benchmark: 20.0%

-

Health Care

HRLVX: 11.7%

Benchmark: 16.3%

-

Industrials

HRLVX: 11.2%

Benchmark: 10.9%

-

Materials

HRLVX: 10.7%

Benchmark: 4.5%

-

Consumer Staples

HRLVX: 8.8%

Benchmark: 7.6%

-

Consumer Discretionary

HRLVX: 7.3%

Benchmark: 6.0%

-

Utilities

HRLVX: 5.0%

Benchmark: 5.6%

-

Energy

HRLVX: 4.2%

Benchmark: 8.0%

-

Real Estate

HRLVX: 3.6%

Benchmark: 4.5%

-

Communication Services

HRLVX: 2.3%

Benchmark: 8.6%

HRLVX: Large Cap Value Fund

Benchmark: Russell 1000® Value Index

As of 3/31/2023

Economic Sector

Large Cap Value Fund %

Russell 1000® Value Index %

Information Technology

Economic sector icon

20.2

16.5

Consumer Discretionary

Economic sector icon

15.5

5.3

Communication Services

Economic sector icon

10.4

19.9

Materials

Economic sector icon

2.5

5.3

Real Estate

Economic sector icon

1.8

1.9

Energy

Economic sector icon

0.6

-4.5

Consumer Staples

Economic sector icon

-0.9

0.3

Utilities

Economic sector icon

-1.1

-3.2

Industrials

Economic sector icon

-1.6

3.8

Health Care

Economic sector icon

-2.4

-5.5

Financials

Economic sector icon

-3.4

-5.1

Investment Team


Sub-adviser logo

Aristotle Capital Management, LLC is a privately owned, registered investment adviser that specializes in equity portfolio management for institutional and individual clients worldwide. They are one of four independent investment teams which collectively operate under a unified platform known as Aristotle. Their mission is to add value with active portfolio management to help their clients reach their long-term financial goals. The firm employs a bottom-up, fundamental investment approach in the management of U.S., international and global equity portfolios.

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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. Since the Fund typically invests in a limited number of companies, an adverse event affecting a particular company may hurt the Fund's performance more than if it had invested in a larger number of companies. Since the Fund may hold foreign securities, it may be subject to greater risks than funds invested only in the U.S. These risks are more severe for securities of issuers in emerging market regions.

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.

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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