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Harbor Core Bond Fund (HACBX)

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Overview
Performance
Holdings
Investment Team
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Class

Aware, but not constrained. The bottom-up security selection process seeks to add value by rotating between sectors based on relative value. The portfolio managers are aware of the benchmark, but not constrained by it, and take the opportunities that the market offers. Purchase and sell decisions focus on fundamental credit analysis, security structure and price relative to other opportunities.

Disciplined approach. The team-oriented investment decision-making process is disciplined, repeatable, and based on a core foundation of bottom-up research. That process supports a duration- and curve-neutral portfolio.

Stable, experienced, and independent. IR+M is a privately-owned, independent, fixed income investment manager, with over 30 years of experience serving private and institutional clients. The investment team has experience managing through various credit cycles. All members of IR+M's Management Committee and senior portfolio managers have ownership in the firm and are dedicated to its success.

Related Products to Consider

Overview

Investment Team
Income Research + Management logo on white background
William A. O’Malley, CFA
James E. Gubitosi, CFA
Bill O’Neill, CFA
Jake Remley, CFA
Matt Walker, CFA
Rachel Campbell

Current Price

As of 12/1/2023

$8.76

Price (NAV)

$0.07

NAV Daily Change ($)

0.81%

NAV Daily Change (%)

2.71%

NAV YTD Return

4.38%

Current 30-Day Sub. SEC Yield
disclaimer

4.29%

Current 30-Day Unsub. SEC Yield
disclaimer

4.47%

Effective 30-Day Sub. SEC Yield
disclaimer

4.38%

Effective 30-Day Unsub. SEC Yield
disclaimer

Fund Facts

As of 11/30/2023

6/1/2018

Inception Date

0.34

Net Expense Ratio
disclaimer

0.44

Gross Expense Ratio

$35.087

Total Net Assets (million)
As of 11/30/2023

HACBX

Ticker

2043

Fund Number

Institutional Class

Share Class

“Our team comes in every day excited to build a diversified portfolio comprised of unique bond structures and attractive relative-value ideas.  Sitting shoulder-to-shoulder, our portfolio managers, traders, and analysts work together to provide solid, consistent investment results within appropriate risk parameters."

Bill O'Malley

Chief Executive Officer, Co-Chief Investment Officer and Senior Portfolio Manager, Income Research + Management

Performance

Total Returns

Month-End

3 Mo.

YTD Return

1 Yr.

3 Yr.

5 Yr.

Since Inception

Net Expense Ratio

Gross Expense Ratio

Core Bond Fund
0.04%
1.89%
1.44%
-4.55%
0.88%
0.75%
0.34%disclaimer
0.44%
Bloomberg US Aggregate Bond Index
0.26%
1.64%
1.18%
-4.47%
0.71%
0.59%
--
--

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 Bloomberg US Aggregate Bond Index is an unmanaged index of investment-grade fixed-rate debt issues with maturities of at least one year. 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

11/29/2023
11/30/2023
11/30/2023
0.00000
0.02703
0.00000
--
0.00000
--
0.02703
0.00000
8.69
10/27/2023
10/30/2023
10/30/2023
0.00000
0.02875
0.00000
--
0.00000
--
0.02875
0.00000
8.35
9/28/2023
9/29/2023
9/29/2023
0.00000
0.02619
0.00000
--
0.00000
--
0.02619
0.00000
8.52
8/30/2023
8/31/2023
8/31/2023
0.00000
0.02858
0.00000
--
0.00000
--
0.02858
0.00000
8.77
7/28/2023
7/31/2023
7/31/2023
0.00000
0.02808
0.00000
--
0.00000
--
0.02808
0.00000
8.85
6/29/2023
6/30/2023
6/30/2023
0.00000
0.02717
0.00000
--
0.00000
--
0.02717
0.00000
8.88
5/30/2023
5/31/2023
5/31/2023
0.00000
0.03197
0.00000
--
0.00000
--
0.03197
0.00000
8.93
4/27/2023
4/28/2023
4/28/2023
0.00000
0.02542
0.00000
--
0.00000
--
0.02542
0.00000
9.06
3/30/2023
3/31/2023
3/31/2023
0.00000
0.02891
0.00000
--
0.00000
--
0.02891
0.00000
--
2/27/2023
2/28/2023
2/28/2023
0.00000
0.02317
0.00000
--
0.00000
--
0.02317
0.00000
--
1/30/2023
1/31/2023
1/31/2023
0.00000
0.02117
0.00000
--
0.00000
--
0.02117
0.00000
9.11
12/16/2022
12/19/2022
12/19/2022
0.00000
0.07157
0.00000
--
0.00000
--
0.07157
0.00000
8.97
11/28/2022
11/29/2022
11/29/2022
0.00000
0.02163
0.00000
--
0.00000
--
0.02163
0.00000
8.87
10/27/2022
10/28/2022
10/28/2022
0.00000
0.02062
0.00000
--
0.00000
--
0.02062
0.00000
8.67
9/28/2022
9/29/2022
9/29/2022
0.00000
0.01929
0.00000
--
0.00000
--
0.01929
0.00000
8.81
8/29/2022
8/30/2022
8/30/2022
0.00000
0.02258
0.00000
--
0.00000
--
0.02258
0.00000
9.24
7/27/2022
7/28/2022
7/28/2022
0.00000
0.01869
0.00000
--
0.00000
--
0.01869
0.00000
9.47
6/28/2022
6/29/2022
6/29/2022
0.00000
0.02150
0.00000
--
0.00000
--
0.02150
0.00000
9.24
5/25/2022
5/26/2022
5/26/2022
0.00000
0.02077
0.00000
--
0.00000
--
0.02077
0.00000
9.49
4/27/2022
4/28/2022
4/28/2022
0.00000
0.01467
0.00000
--
0.00000
--
0.01467
0.00000
9.48
3/29/2022
3/30/2022
3/30/2022
0.00000
0.02048
0.00000
--
0.00000
--
0.02048
0.00000
9.81
2/24/2022
2/25/2022
2/25/2022
0.00000
0.01343
0.00000
--
0.00000
--
0.01343
0.00000
10.05
1/27/2022
1/28/2022
1/28/2022
0.00000
0.01204
0.00000
--
0.00000
--
0.01204
0.00000
10.27
12/29/2021
12/30/2021
12/30/2021
0.00000
0.08259
0.00000
--
0.00000
--
0.08259
0.00000
10.49
11/26/2021
11/29/2021
11/29/2021
0.00000
0.01150
0.00000
--
0.00000
--
0.01150
0.00000
10.59
10/27/2021
10/28/2021
10/28/2021
0.00000
0.01266
0.00000
--
0.00000
--
0.01266
0.00000
10.61
9/28/2021
9/29/2021
9/29/2021
0.00000
0.01190
0.00000
0.00000
0.00000
0.00000
0.01190
0.00000
10.63
8/27/2021
8/30/2021
8/30/2021
0.00000
0.01513
0.00000
0.00000
0.00000
0.00000
0.01513
0.00000
10.74
7/28/2021
7/29/2021
7/29/2021
0.00000
0.01466
0.00000
0.00000
0.00000
0.00000
0.01466
0.00000
10.76
6/28/2021
6/29/2021
6/29/2021
0.00000
0.01643
0.00000
0.00000
0.00000
0.00000
0.01643
0.00000
10.66
5/26/2021
5/27/2021
5/27/2021
0.00000
0.01370
0.00000
0.00000
0.00000
0.00000
0.01370
0.00000
10.60
4/28/2021
4/29/2021
4/29/2021
0.00000
0.01338
0.00000
0.00000
0.00000
0.00000
0.01338
0.00000
10.59
3/29/2021
3/30/2021
3/30/2021
0.00000
0.03671
0.00000
0.00000
0.00000
0.00000
0.03671
0.00000
10.53
12/16/2020
12/17/2020
12/17/2020
0.00000
0.08317
0.22475
0.08232
0.00000
0.14243
0.30792
0.00000
10.87
9/28/2020
9/29/2020
9/29/2020
0.00000
0.05629
0.00000
0.00000
0.00000
0.00000
0.05629
0.00000
11.13
6/26/2020
6/29/2020
6/29/2020
0.00000
0.05739
0.00000
0.00000
0.00000
0.00000
0.05739
0.00000
11.05
3/27/2020
3/30/2020
3/30/2020
0.00000
0.06157
0.00000
0.00000
0.00000
0.00000
0.06157
0.00000
10.61
12/13/2019
12/16/2019
12/16/2019
0.00000
0.09052
0.07274
0.01933
0.00000
0.05341
0.16326
0.00000
10.45
9/25/2019
9/26/2019
9/26/2019
0.00000
0.07084
0.00000
0.00000
0.00000
0.00000
0.07084
0.00000
10.59
6/26/2019
6/27/2019
6/27/2019
0.00000
0.07389
0.00000
0.00000
0.00000
0.00000
0.07389
0.00000
10.43
3/27/2019
3/28/2019
3/28/2019
0.00000
0.06214
0.00000
0.00000
0.00000
0.00000
0.06214
0.00000
10.21
12/14/2018
12/17/2018
12/17/2018
0.00000
0.08695
0.00000
0.00000
0.00000
0.00000
0.08695
0.00000
9.90
9/26/2018
9/27/2018
9/27/2018
0.00000
0.06675
0.00000
0.00000
0.00000
0.00000
0.06675
0.00000
9.92
6/27/2018
6/28/2018
6/28/2018
0.00000
0.01853
0.00000
0.00000
0.00000
0.00000
0.01853
0.00000
9.98

Holdings

Portfolio Characteristics

As of 9/30/2023

Core Bond Fund

Bloomberg US Aggregate Bond Index

Number of Bonds

278
13358

Avg. Market Coupon (%)

3.74
3.07

Wtd. Avg. Maturity (yrs)

8.79
8.49

Wtd. Avg. Duration (yrs)

6.16
6.15

Top Ten Holdings

As of 9/30/2023

Company Name

Maturity Date

Coupon Rate (%)

Value ($000's)

% of Net Assets

US TREASURY N/B
8/15/2042
3.4
5,108
5.1
US TREASURY N/B
8/15/2052
3.0
3,347
3.3
US TREASURY N/B
5/31/2028
3.6
2,811
2.8
US TREASURY N/B
1/31/2028
3.5
2,402
2.4
US TREASURY N/B
5/15/2033
3.4
2,311
2.3
US TREASURY N/B
5/15/2043
3.9
1,555
1.5
US TREASURY N/B
2/15/2042
2.4
985
1.0
Fannie Mae
1/1/2049
4.0
883
0.9
Freddie Mac
5/1/2042
3.5
840
0.8
Fannie Mae
2/1/2050
4.5
826
0.8
% of Total Holdings:
--
--
--
20.9%

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

As of 9/30/2023

Company Name

Maturity Date

Coupon Rate (%)

Market Value ($000's)

% of Net Assets

US TREASURY N/B
8/15/2042
3.4
5,108
5.1
US TREASURY N/B
8/15/2052
3.0
3,347
3.3
US TREASURY N/B
5/31/2028
3.6
2,811
2.8
US TREASURY N/B
1/31/2028
3.5
2,402
2.4
US TREASURY N/B
5/15/2033
3.4
2,311
2.3
US TREASURY N/B
5/15/2043
3.9
1,555
1.5
US TREASURY N/B
2/15/2042
2.4
985
1.0
Fannie Mae
1/1/2049
4.0
883
0.9
Freddie Mac
5/1/2042
3.5
840
0.8
Fannie Mae
2/1/2050
4.5
826
0.8
US TREASURY N/B
5/15/2053
3.6
825
0.8
US TREASURY N/B
2/15/2052
2.3
788
0.8
UNITED AIR 2014-1 A PTT
10/11/2027
4.0
783
0.8
Fannie Mae
8/1/2050
2.0
692
0.7
Government National Mortgage A
1/20/2051
2.5
665
0.7
Freddie Mac
5/1/2052
2.5
655
0.6
MORGAN STANLEY
7/27/2026
3.1
618
0.6
PENSKE TRUCK LEASING/PTL
5/1/2028
5.5
618
0.6
Freddie Mac
8/1/2050
3.0
607
0.6
Freddie Mac
11/1/2051
2.5
606
0.6
Freddie Mac
8/1/2051
2.5
599
0.6
Fannie Mae
2/1/2035
3.0
596
0.6
Morgan Stanley BAML Trust
10/15/2048
3.5
567
0.6
NEW YORK ST URBAN DEV CORP REV
3/15/2039
5.8
556
0.6
Fannie Mae
8/1/2052
4.5
546
0.5
JPMORGAN CHASE & CO
7/23/2029
4.2
543
0.5
PEACEHEALTH OBLIGATED GR
11/15/2025
1.4
536
0.5
Fannie Mae
4/1/2052
2.5
535
0.5
Fannie Mae
11/1/2052
5.5
532
0.5
PFS Financing Corp.
3/15/2028
0.0
522
0.5
Fannie Mae
11/1/2046
4.0
521
0.5
CVS PASS THRU TR 2009
7/10/2031
8.4
519
0.5
Small Business Administration
9/1/2048
5.4
516
0.5
Freddie Mac
7/1/2053
5.5
516
0.5
DTE ENERGY CO
6/1/2028
4.9
509
0.5
Small Business Administration
3/10/2033
5.2
509
0.5
HEALTHPEAK OP LLC
7/15/2026
3.3
508
0.5
AT&T INC
6/12/2024
4.0
507
0.5
AMERICAN TOWER TRUST I
3/15/2028
5.5
506
0.5
FLORIDA POWER & LIGHT CO
2/3/2032
2.5
506
0.5
Home Partners of America Trust
4/17/2039
3.9
503
0.5
Taco Bell Funding, LLC
8/25/2051
2.3
503
0.5
TSY INFL IX N/B
1/15/2030
0.1
503
0.5
LIBERTY MUTUAL GROUP INC
2/1/2029
4.6
500
0.5
Fannie Mae
7/1/2052
5.0
500
0.5
GS Mortgage Securities Trust
10/10/2049
2.9
500
0.5
Freddie Mac
5/1/2053
5.0
492
0.5
Small Business Administration
3/1/2048
4.9
491
0.5
CAPITAL ONE FINANCIAL CO
2/1/2029
5.5
489
0.5
BANK OF AMERICA CORP
7/22/2028
4.9
485
0.5
Fannie Mae
6/1/2051
2.5
485
0.5
FEDERAL REALTY OP LP
2/15/2026
1.3
479
0.5
ENERGY TRANSFER LP
7/15/2026
3.9
478
0.5
UBS GROUP AG
4/15/2026
4.1
476
0.5
SALES TAX SECURITIZATION CORP
1/1/2040
4.6
475
0.5
T-MOBILE USA INC
7/15/2033
5.0
474
0.5
LLOYDS BANKING GROUP PLC
2/5/2026
2.4
474
0.5
Fannie Mae
8/1/2053
5.0
472
0.5
Fannie Mae
3/1/2038
1.0
465
0.5
CHARTER COMM OPT LLC/CAP
10/23/2035
6.4
464
0.5
CREDIT SUISSE NEW YORK
1/9/2025
8.0
456
0.5
Freddie Mac
12/1/2037
4.0
455
0.5
Fannie Mae
11/1/2052
5.5
453
0.4
Palmer Square CLO Ltd
10/17/2031
0.0
445
0.4
MACQUARIE GROUP LTD
1/12/2027
1.3
441
0.4
COMM Mortgage Trust
6/10/2047
3.5
435
0.4
FERGUSON FINANCE PLC
6/2/2030
3.3
433
0.4
Progress Residential Trust
9/17/2036
2.3
424
0.4
Government National Mortgage A
6/20/2045
4.5
417
0.4
Fannie Mae
3/1/2048
3.5
414
0.4
Fannie Mae
3/1/2046
4.0
412
0.4
NXP BV/NXP FDG/NXP USA
5/1/2027
3.1
411
0.4
NATIONAL SECS CLEARING
5/30/2028
5.0
409
0.4
Dominos Pizza Master Issuer LL
4/25/2051
2.7
406
0.4
GA GLOBAL FUNDING TRUST
4/11/2025
3.9
404
0.4
APTIV PLC / APTIV CORP
3/1/2032
3.3
402
0.4
Progress Residential Trust
10/17/2036
2.7
398
0.4
ELEVANCE HEALTH INC
2/15/2033
4.8
396
0.4
BX Trust
9/15/2036
0.8
393
0.4
NEW YORK CITY NY TRANSITIONAL
8/1/2032
4.0
392
0.4
PSMC Trust
5/25/2051
2.5
391
0.4
AIA GROUP LTD
4/9/2029
3.6
381
0.4
GENERAL MOTORS FINL CO
10/15/2028
2.4
377
0.4
Fannie Mae
7/1/2050
3.0
376
0.4
Fannie Mae
4/1/2035
2.5
374
0.4
Fannie Mae
8/1/2052
5.0
374
0.4
PNC FINANCIAL SERVICES
1/24/2034
5.1
372
0.4
Bank of America Credit Card Tr
4/15/2028
5.0
362
0.4
MERCEDES-BENZ AUTO RECEIVABLES
2/15/2029
5.3
360
0.4
Wells Fargo Commercial Mortgag
11/15/2048
3.7
359
0.4
AMSR Trust
10/17/2038
1.5
359
0.4
Small Business Administration
5/1/2047
3.9
357
0.4
COMM Mortgage Trust
10/10/2049
2.8
354
0.4
Small Business Administration
12/1/2047
4.7
353
0.4
US TREASURY N/B
5/31/2025
4.3
351
0.3
CALIFORNIA ST
4/1/2034
7.5
347
0.3
BX Commercial Mortgage Trust 2
10/15/2036
2.9
346
0.3
Small Business Administration
1/1/2048
4.9
345
0.3
WENDYS FUNDING LLC
6/15/2049
3.8
344
0.3
Small Business Administration
11/1/2047
5.1
339
0.3
BANK OF AMERICA CORP
10/20/2032
2.6
338
0.3
Aligned Data Centers Issuer LL
8/15/2046
1.9
337
0.3
Fannie Mae
4/1/2051
2.0
337
0.3
Palmer Square Loan Funding Ltd
10/15/2030
0.0
335
0.3
Fannie Mae
2/1/2052
2.5
331
0.3
Fannie Mae
12/1/2040
3.0
328
0.3
Firstkey Homes Trust
8/17/2038
1.5
326
0.3
Firstkey Homes Trust
10/19/2037
1.3
325
0.3
Freddie Mac
1/1/2050
3.0
324
0.3
Fannie Mae
12/1/2050
2.0
323
0.3
BENCHMARK Mortgage Trust
6/15/2054
2.4
323
0.3
Fannie Mae
2/1/2052
2.5
322
0.3
NextGear Floorplan Master Owne
3/15/2028
5.7
322
0.3
Fannie Mae
3/1/2035
2.5
321
0.3
Fannie Mae
7/1/2050
5.0
318
0.3
Fannie Mae
11/1/2050
2.0
317
0.3
BAE SYSTEMS PLC
4/15/2030
3.4
315
0.3
CIFC Funding Ltd
7/18/2031
6.4
314
0.3
DUKE ENERGY FLORIDA LLC
7/15/2028
3.8
309
0.3
ORACLE CORP
3/25/2026
1.6
308
0.3
BARCLAYS PLC
8/9/2026
5.3
304
0.3
COX COMMUNICATIONS INC
10/1/2030
1.8
303
0.3
TORONTO DOMINION BANK
1/12/2027
1.9
303
0.3
MET LIFE GLOB FUNDING I
3/21/2029
3.3
303
0.3
Freddie Mac
10/1/2052
5.0
301
0.3
MITSUBISHI UFJ FIN GRP
7/20/2028
5.0
300
0.3
Fannie Mae
7/1/2035
3.0
300
0.3
BANK OF NY MELLON CORP
10/25/2028
5.8
300
0.3
EQUITABLE FINANCIAL LIFE
7/7/2025
1.4
299
0.3
DELTA AIR LINES 2015-1AA
1/30/2029
3.6
298
0.3
CIGNA GROUP/THE
3/1/2027
3.4
298
0.3
Freddie Mac
12/1/2046
3.0
297
0.3
AMERICAN EXPRESS CO
5/1/2034
5.0
297
0.3
Tricon American Homes
7/17/2038
1.5
296
0.3
Oak Street Investment Grade Ne
11/20/2050
1.9
294
0.3
PG&E WILDFIRE RECOVERY
6/1/2033
4.0
293
0.3
DOMINION ENERGY INC
8/1/2033
5.3
291
0.3
Discover Card Execution Note T
10/15/2027
4.6
289
0.3
AMAZON.COM INC
4/13/2062
4.1
283
0.3
Small Business Administration
2/1/2048
4.6
281
0.3
Freddie Mac
1/1/2033
3.0
280
0.3
ABBVIE INC
5/14/2035
4.5
280
0.3
Fannie Mae
8/1/2050
3.0
278
0.3
BERKSHIRE HATHAWAY ENERG
4/1/2036
6.1
277
0.3
GM Financial Securitized Term
12/16/2027
3.7
277
0.3
Fannie Mae
6/1/2050
3.5
276
0.3
Fannie Mae
9/1/2049
1.0
268
0.3
GOLDMAN SACHS GROUP INC
3/15/2030
3.8
266
0.3
SOUTHERN CO
7/1/2036
4.3
258
0.3
MORGAN STANLEY
4/1/2031
3.6
254
0.3
NXP BV/NXP FDG/NXP USA
5/1/2025
2.7
252
0.2
BROADCOM INC
9/15/2028
4.1
251
0.2
CITIGROUP INC
3/31/2031
4.4
251
0.2
Small Business Administration
7/1/2038
3.5
251
0.2
Morgan Stanley BAML Trust
10/15/2048
3.4
247
0.2
Flagstar Mortgage Trust
9/25/2051
2.5
243
0.2
OCCIDENTAL PETROLEUM COR
10/10/2036
0.0
240
0.2
Ford Credit Auto Owner Trust/F
8/15/2031
2.0
237
0.2
ORACLE CORP
3/25/2051
4.0
235
0.2
RYDER SYSTEM INC
3/18/2024
3.6
234
0.2
AQUARION CO
8/15/2024
4.0
233
0.2
Fannie Mae
3/1/2051
2.0
231
0.2
SBA TOWER TRUST
1/15/2028
6.6
231
0.2
AIR CANADA 2015-1A PTT
9/15/2028
3.6
230
0.2
JPMORGAN CHASE & CO
3/24/2031
4.5
229
0.2
FRESB Multifamily Mortgage Pas
2/25/2039
2.5
229
0.2
Navient Student Loan Trust
7/15/2069
0.9
228
0.2
Freddie Mac
3/1/2051
2.5
226
0.2
Freddie Mac
12/1/2052
5.5
226
0.2
PFS Financing Corp.
8/15/2027
4.3
225
0.2
Fannie Mae
3/1/2051
2.0
224
0.2
LINCOLN NATIONAL CORP
1/15/2031
3.4
223
0.2
BLACKSTONE HOLDINGS FINA
9/10/2049
3.5
222
0.2
Freddie Mac - SCRT
3/25/2061
2.0
222
0.2
Fannie Mae
1/1/2048
4.0
221
0.2
HSBC HOLDINGS PLC
11/3/2028
7.4
219
0.2
ROGERS COMMUNICATIONS IN
10/1/2043
5.5
219
0.2
CITIGROUP INC
10/27/2028
3.5
216
0.2
SOUTHERN CO
7/1/2026
3.3
216
0.2
Fannie Mae
11/1/2051
2.5
215
0.2
Fannie Mae
9/1/2050
4.5
213
0.2
AT&T INC
6/1/2027
2.3
213
0.2
Home Partners of America Trust
1/17/2041
1.5
212
0.2
ALEXANDRIA REAL ESTATE E
5/18/2032
2.0
211
0.2
Vantage Data Centers LLC
9/15/2045
2.0
210
0.2
Government National Mortgage A
8/20/2047
4.5
210
0.2
WASTE MANAGEMENT INC
4/15/2032
4.2
210
0.2
COMM Mortgage Trust
12/10/2047
3.5
210
0.2
EXELON CORP
6/15/2045
5.1
208
0.2
US TREASURY N/B
8/31/2028
4.4
207
0.2
LOCKHEED MARTIN CORP
5/15/2046
4.7
207
0.2
Freddie Mac - SCRT
9/25/2060
2.0
200
0.2
XCEL ENERGY INC
6/1/2030
3.4
199
0.2
VERISK ANALYTICS INC
5/15/2050
3.6
198
0.2
EVERSOURCE ENERGY
10/1/2024
2.9
194
0.2
Freddie Mac
2/1/2046
4.0
194
0.2
Fannie Mae
10/1/2050
2.5
193
0.2
MOODY'S CORPORATION
5/20/2050
3.3
193
0.2
Sabey Data Center Issuer LLC
4/20/2045
3.8
193
0.2
Fannie Mae
10/1/2047
4.5
192
0.2
STORE Master Funding LLC
10/20/2048
4.3
187
0.2
RYDER SYSTEM INC
6/1/2028
5.3
186
0.2
Fannie Mae
4/1/2049
4.0
186
0.2
CANADIAN PACIFIC RAILWAY
9/15/2115
6.1
185
0.2
UNITED AIR 2016-1 AA PTT
1/7/2030
3.1
183
0.2
SCHLUMBERGER HLDGS CORP
5/17/2028
3.9
178
0.2
Stack Infrastructure Issuer LL
10/25/2044
3.1
177
0.2
Fannie Mae
7/1/2047
4.5
177
0.2
Fannie Mae
5/1/2046
4.5
176
0.2
Freddie Mac
11/1/2043
3.0
175
0.2
LOWE'S COS INC
4/15/2040
5.0
175
0.2
SOUTHERN CO GAS CAPITAL
1/15/2031
1.8
174
0.2
COMMONSPIRIT HEALTH
10/1/2049
4.2
173
0.2
AERCAP IRELAND CAP/GLOBA
10/29/2028
3.0
172
0.2
Freddie Mac
6/1/2050
2.0
172
0.2
Fannie Mae
6/1/2050
2.5
169
0.2
PG&E WILDFIRE RECOVERY
6/1/2037
4.7
169
0.2
WENDYS FUNDING LLC
6/15/2051
2.4
164
0.2
CVS PASS-THROUGH TRUST
1/10/2033
5.8
163
0.2
Small Business Administration
11/1/2034
2.8
163
0.2
Small Business Administration
8/1/2035
2.8
162
0.2
CITIGROUP INC
5/1/2026
3.4
161
0.2
CARLISLE COS INC
3/1/2030
2.8
160
0.2
Small Business Administration
2/1/2038
3.2
156
0.2
Freddie Mac - SCRT
8/25/2058
3.5
156
0.2
Freddie Mac
12/1/2046
3.0
150
0.1
FIVE CORNERS FUNDING TRS
11/15/2023
4.4
150
0.1
BERKSHIRE HATHAWAY FIN
3/15/2052
3.9
148
0.1
MASS MUTUAL LIFE INS CO
12/1/2052
5.7
147
0.1
CHICAGO IL MET WTR RECLAMATION
12/1/2038
5.7
147
0.1
DB Master Finance LLC
11/20/2051
2.0
147
0.1
Store Master Funding I - VII,
11/20/2049
2.8
146
0.1
VERIZON COMMUNICATIONS
8/10/2033
4.5
144
0.1
Fannie Mae
6/1/2050
2.5
144
0.1
Freddie Mac - SCRT
5/25/2060
2.0
143
0.1
KKR GROUP FINANCE CO III
6/1/2044
5.1
141
0.1
US TREASURY N/B
8/15/2032
2.8
140
0.1
Fannie Mae
12/1/2036
1.0
139
0.1
Freddie Mac
6/1/2047
2.2
137
0.1
Freddie Mac - SCRT
8/25/2059
2.5
137
0.1
NORTHROP GRUMMAN CORP
5/1/2050
5.3
137
0.1
Fannie Mae
2/1/2047
4.5
136
0.1
Small Business Administration
10/1/2037
2.9
135
0.1
NORFOLK SOUTHERN CORP
10/1/2041
4.8
135
0.1
Fannie Mae
8/1/2050
2.5
134
0.1
Fannie Mae
4/1/2045
4.0
132
0.1
Government National Mortgage A
9/20/2041
4.0
130
0.1
NORTHERN STATES PWR-MINN
6/1/2052
4.5
129
0.1
GS Mortgage-Backed Securities
10/25/2050
3.0
128
0.1
CF Hippolyta Issuer LLC
7/15/2060
1.7
123
0.1
Freddie Mac - SCRT
11/25/2059
2.0
122
0.1
Government National Mortgage A
9/15/2046
4.0
120
0.1
Freddie Mac
3/1/2049
4.5
120
0.1
MASS MUTUAL LIFE INS CO
4/15/2050
3.4
116
0.1
WARNERMEDIA HOLDINGS INC
3/15/2052
5.1
115
0.1
LOWE'S COS INC
4/15/2053
5.6
106
0.1
Navient Student Loan Trust
5/15/2069
0.8
103
0.1
ALEXANDRIA REAL ESTATE E
4/15/2035
4.8
101
0.1
Freddie Mac - SCRT
5/25/2057
3.0
98
0.1
Metlife Securitization Trust
5/25/2050
2.5
97
0.1
Government National Mortgage A
8/15/2045
4.0
96
0.1
BLACKSTONE HOLDINGS FINA
9/30/2050
2.8
94
0.1
BANK OF AMERICA CORP
4/22/2042
3.3
92
0.1
PG&E WILDFIRE RECOVERY
6/1/2032
3.6
90
0.1
Small Business Administration
8/1/2037
2.8
89
0.1
GS Mortgage-Backed Securities
1/25/2051
3.0
86
0.1
Freddie Mac
10/1/2046
3.0
85
0.1
Fannie Mae
6/1/2050
2.5
81
0.1
Government National Mortgage A
2/20/2046
4.5
76
0.1
CVS PASS-THROUGH TRUST
1/10/2028
5.9
75
0.1
Government National Mortgage A
1/15/2042
4.5
60
0.1
MICHIGAN ST UNIV REVENUES
8/15/2122
4.2
59
0.1
Small Business Administration
3/1/2032
2.5
58
0.1
LOWE'S COS INC
4/15/2046
3.7
53
0.1
EXELON CORP
4/15/2050
4.7
50
0.0
Freddie Mac - SCRT
8/25/2056
3.0
48
0.0
KKR GROUP FIN CO II
2/1/2043
5.5
47
0.0
PSMC Trust
5/25/2050
3.0
44
0.0
Total
--
--
100,176
98.6
Cash and Other Assets Less Liabilities
--
--
--
1.4
Total Net Assets
--
--
--
100%

As of 9/30/2023

Core Bond Fund (HACBX)

Bloomberg US Aggregate Bond Index

-

Securitized

HACBX: 42.9%

Benchmark: 28.8%

-

Credit

HACBX: 30.1%

Benchmark: 28.0%

-

Government

HACBX: 25.7%

Benchmark: 42.5%

-

Municipal

HACBX: 2.0%

Benchmark: 0.6%

HACBX: Core Bond Fund

Benchmark: Bloomberg US Aggregate Bond Index

As of 9/30/2023

Maturity

Core Bond Fund %

Bloomberg US Aggregate Bond Index %

0-1 yr
3.0
0.1
1-3 yr
17.7
22.9
3-5 yr
18.6
17.1
5-7 yr
12.7
13.0
7-10 yr
28.0
22.6
10-20 yr
11.6
14.1
20-30 yr
7.9
9.5
Over 30 yr
0.5
0.8

As of 9/30/2023

Duration

Core Bond Fund %

Bloomberg US Aggregate Bond Index %

0-1 yr
4.2
0.3
1-3 yr
18.3
24.1
3-5 yr
26.1
21.4
5-7 yr
23.5
20.8
7-10 yr
11.2
18.4
10-20 yr
16.6
15.0
20-30 yr
0.0
--
Over 30 yr
0.0
--

Investment Team


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Income Research + Management is a privately-owned, independent, fixed income investment management firm that serves institutional and private clients. They believe that an open, collaborative culture promotes excellence from an investment team of high energy, curious individuals. IR+M’s investment philosophy and process are based on their belief that careful security selection and active risk management provide strong results over the long-term. By combining the capacity and technology of a larger firm with the culture and nimbleness of a boutique firm, the firm strives to provide exceptional service for their clients and a rewarding experience for their employees.

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. Fixed income investments are affected by interest rate changes and the creditworthiness of the issues held by the Fund. As interest rates rise, the values of fixed income securities held by the Fund are likely to decrease and reduce the value of the Fund's portfolio. There may be a greater risk that the Fund could lose money due to prepayment and extension risks because the Fund invests heavily at times in mortgage-related and/or asset backed securities.

Wtd. Avg. Market Coupon (%): the weighted average coupon rate of the underlying bonds in the Fund.

Wtd. Avg. Maturity (yrs): the weighted average length of time to the repayment of principal for the securities in the Fund. This metric considers the likelihood that bonds will be called or prepaid before the scheduled maturity date.

Wtd. Avg. Duration (yrs): the weight average duration of the underlying bonds or derivative market exposures in the Fund. Duration is a time measure of a bond's interest-rate sensitivity. The longer a fund's duration, the more sensitive the fund is to shifts in interest rates

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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 © 2023 Harbor Capital Advisors, Inc. All rights reserved.