Harbor Capital Logo

Harbor Diversified International All Cap Fund (HAIDX)

NAV as of 9/8/2026
$16.89
NAV Daily Change
$0.01
NAV YTD Return
16.32%
Net Expense Ratio (%)
0.83
Total Net Assets (million) as of 8/31/2026
$786.58
Total Share Class Net Assets (million)
$213.618

Broad Exposure. The fund’s diversified all‑cap approach means it can serve as a stand‑alone fund for gaining exposure to international stocks. 

Fundamentally Driven. Marathon’s capital cycle approach is grounded in enduring investment principles. Fundamental research drives investment decisions, which aims to create a portfolio with meaningful active positions relative to the benchmark.

Distinctive Team Structure. Each PM at Marathon is an experienced regional specialist and manages his sleeve independently. This reduces key man risk, guards against group think, and allows diverse investment opinions to be expressed across the portfolio.

Investment Team

Marathon London
Charles Carter
Nick Longhurst
William J. Arah
Toma Kobayashi
Robert Anstey
Justin Hill
Alex Duffy

Learn More

As of 9/8/2026

$16.89

Price (NAV)

$0.01

NAV Daily Change ($)

0.06%

NAV Daily Change (%)

16.32%

NAV YTD Return

As of 8/31/2026

11/2/2015

Inception Date

0.83

Net Expense Ratio

0.93

Gross Expense Ratio

$786.58

Total Fund Net Assets (million)
As of 8/31/2026

$213.618

Total Share Class Net Assets (million)
As of 8/31/2026

HAIDX

Ticker

2038

Fund Number

Share Class:

Institutional Class

“In the long-run, the intensity of competition, rather than the growth of an industry, is what ultimately determines the investment outcome.”

Charles Carter

Managing Director and Portfolio Manager, Europe

Performance

Select an option

Loading Performance Data...

3 Mo.
YTD Return
1 Yr.
3 Yr.
5 Yr.
10 Yr.
Since Fund Inception
Net Expense Ratio
Gross Expense Ratio
Diversified International All Cap Fund
8.03%
9.30%
20.09%
15.43%
7.32%
9.10%
7.87%
0.83%
0.93%
MSCI All Country World Ex. US (ND) Index
14.49%
13.68%
27.66%
18.82%
8.79%
9.93%
8.80%
--
--

Performance data shown represents past performance and is no guarantee of future results. Fund 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 All Country World Ex. US (ND) Index is a free float‑adjusted market capitalization weighted index that is designed to measure equity market performance in the global developed and emerging markets, excluding the U.S. This unmanaged index does not reflect fees and expenses and is not available for direct investment. Benchmark returns are adjusted for withholding taxes.

Select an option

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
12/17/2025
12/18/2025
12/18/2025
0.00000
0.54642
0.65699
0.09268
0.00000
0.56431
1.20341
0.04272
14.40
12/18/2024
12/19/2024
12/19/2024
0.00000
0.38766
0.00000
--
0.00000
--
0.38766
0.03106
12.07
12/17/2023
12/18/2023
12/18/2023
0.00000
0.29811
0.00000
--
0.00000
--
0.29811
0.02702
11.81
12/15/2022
12/18/2022
12/18/2022
0.00000
0.15518
0.00000
--
0.00000
--
0.15518
0.03392
10.63
12/16/2021
12/19/2021
12/19/2021
0.00000
0.21604
0.72440
0.08690
0.00000
0.63750
0.94044
0.03145
12.26
12/15/2020
12/16/2020
12/16/2020
0.00000
0.11898
0.00000
0.00000
0.00000
0.00000
0.11898
0.01842
12.42
12/12/2019
12/15/2019
12/15/2019
0.00000
0.24115
0.00000
0.00000
0.00000
0.00000
0.24115
0.02298
11.58
12/13/2018
12/16/2018
12/16/2018
0.00000
0.12381
0.28725
0.02103
0.00000
0.26622
0.41106
0.01645
9.59
12/14/2017
12/17/2017
12/17/2017
0.00000
0.11544
0.28469
0.00137
0.00000
0.28332
0.40013
0.01321
11.44
12/15/2016
12/18/2016
12/18/2016
0.00000
0.12823
0.00000
0.00000
0.00000
0.00000
0.12823
0.01485
9.60
12/15/2015
12/16/2015
12/16/2015
0.00000
0.00543
0.00000
0.00000
0.00000
0.00000
0.00543
0.00000
9.69

Holdings

As of 6/30/2026

248

Number of Holdings

180796.2

Wtd Avg Market Cap ($Mil)

2.36

Price/Book Ratio

18.6

Adjusted Trailing P/E Ratio

19.4

% EPS Growth - Past 3 Yr

14.93

Return on Equity (%)

14.7

Forecasted P/E Ratio

As of 6/30/2026

Company Name [Ticker]
% of Net Assets
Taiwan Semiconductor Manufacturing Co. Ltd.[2330]
4.1
Samsung Electronics Co. Ltd.[005930]
2.6
ASML Holding NV[ASML]
2.0
MediaTek Inc[2454]
1.7
AIA Group Limited[1299]
1.6
Rolls-Royce Holdings plc[RR]
1.4
Capitec Bank Holdings Limited[CPI]
1.4
Shinhan Financial Group Co. Ltd.[055550]
1.3
Barclays PLC[BARC]
1.3
UniCredit S.p.A.[UCG]
1.2
% of Total Holdings:
18.6%

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 6/30/2026

Company Name [Ticker]
Country
Shares (000's)
Current Price ($)
Market Value ($000's)
% of Net Assets
Taiwan Semiconductor Manufacturing Co. Ltd. [2330]
Taiwan Flag
418
75.65
31,644
4.1
Samsung Electronics Co. Ltd. [005930]
South Korea Flag
92
215.58
19,785
2.6
ASML Holding NV [ASML]
Netherlands Flag
8
1,968.08
15,119
2.0
MediaTek Inc [2454]
Taiwan Flag
96
133.25
12,779
1.7
AIA Group Limited [1299]
Hong Kong Flag
1,381
9.11
12,579
1.6
Rolls-Royce Holdings plc [RR]
United Kingdom Flag
567
19.17
10,865
1.4
Capitec Bank Holdings Limited [CPI]
South Africa Flag
36
289.82
10,406
1.4
Shinhan Financial Group Co. Ltd. [055550]
South Korea Flag
164
61.83
10,136
1.3
Barclays PLC [BARC]
United Kingdom Flag
1,458
6.72
9,800
1.3
UniCredit S.p.A. [UCG]
Italy Flag
101
89.47
9,073
1.2
Millicom International Cellular SA [TIGO]
Sweden Flag
95
90.76
8,628
1.1
CaixaBank SA [CABK]
Spain Flag
605
14.16
8,570
1.1
National Bank of Greece S.A. [ETE]
Greece Flag
449
17.25
7,751
1.0
Copa Holdings S.A. Class A [CPA]
Panama Flag
49
155.57
7,636
1.0
Standard Chartered PLC [STAN]
United Kingdom Flag
281
27.09
7,622
1.0
B3 SA - Brasil Bolsa Balcao [B3SA3]
Brazil Flag
2,715
2.81
7,621
1.0
Schneider Electric SE [SU]
France Flag
23
326.30
7,591
1.0
3i Group plc [III]
United Kingdom Flag
227
33.00
7,477
1.0
Southern Copper Corporation [SCCO]
Peru Flag
42
174.26
7,391
1.0
Delta Electronics Inc. [2308]
Taiwan Flag
120
61.21
7,352
1.0
Naspers Limited Class N [NPN]
South Africa Flag
146
50.07
7,326
1.0
Prio SA [PRIO3]
Brazil Flag
717
10.08
7,223
0.9
BP PLC [BP]
United Kingdom Flag
1,146
6.20
7,107
0.9
HDFC Bank Limited [500180]
India Flag
825
8.43
6,958
0.9
Glencore plc [GLEN]
United Kingdom Flag
1,009
6.82
6,878
0.9
Compagnie Financiere Richemont SA [CFR]
Switzerland Flag
29
231.27
6,694
0.9
China Resources Land Limited [1109]
China Flag
1,602
3.83
6,127
0.8
Novo Nordisk A/S Class B [NOVO.B]
Denmark Flag
121
48.12
5,846
0.8
ArcelorMittal SA [MT]
France Flag
96
60.25
5,762
0.8
Marico Limited [531642]
India Flag
631
8.83
5,570
0.7
Itausa SA Non-Cum Perp Pfd Registered Shs [ITSA4]
Brazil Flag
2,066
2.59
5,340
0.7
BAE Systems plc [BA]
United Kingdom Flag
213
24.47
5,207
0.7
Bank of Ireland Group Plc [BIRG]
Ireland Flag
257
19.92
5,126
0.7
Arca Continental SAB de CV [AC]
Mexico Flag
424
11.99
5,079
0.7
Sumitomo Mitsui Trust Group Inc. [8309]
Japan Flag
134
37.27
4,983
0.7
Laureate Education Inc. [LAUR]
United States Flag
137
36.32
4,979
0.7
Bank of Nova Scotia [BNS]
Canada Flag
56
86.89
4,908
0.6
Techtronic Industries Co. Ltd. [669]
Hong Kong Flag
295
16.51
4,871
0.6
AVI Limited Class Y [AVI]
South Africa Flag
783
6.13
4,800
0.6
Cemex SAB de CV Sponsored ADR [CX]
Mexico Flag
396
12.00
4,754
0.6
Fairfax Financial Holdings Limited [FFH]
Canada Flag
3
1,644.22
4,747
0.6
NTT Inc [9432]
Japan Flag
5,313
0.89
4,740
0.6
DNB Bank ASA [DNB]
Norway Flag
156
29.78
4,649
0.6
Compass Group PLC [CPG]
United Kingdom Flag
142
32.30
4,590
0.6
Lloyds Banking Group plc [LLOY]
United Kingdom Flag
3,108
1.47
4,583
0.6
BHP Group Ltd [BHP]
Australia Flag
111
41.15
4,549
0.6
Tokio Marine Holdings Inc. [8766]
Japan Flag
101
44.31
4,480
0.6
Embotelladora Andina S.A. Pfd B [ANDINA.B]
Chile Flag
890
4.98
4,430
0.6
Barrick Mining Corporation [ABX]
Canada Flag
120
36.76
4,418
0.6
Resona Holdings Inc. [8308]
Japan Flag
341
12.96
4,417
0.6
Brookfield Corporation [BN]
Canada Flag
101
42.65
4,317
0.6
Grupo Financiero Banorte SAB de CV Class O [GFNORTEO]
Mexico Flag
408
10.56
4,305
0.6
PT Bank Central Asia Tbk [BBCA]
Indonesia Flag
13,275
0.31
4,121
0.5
Japan Post Bank Co. Ltd. [7182]
Japan Flag
214
18.85
4,039
0.5
Vestas Wind Systems A/S [VWS]
Denmark Flag
141
28.23
3,980
0.5
Sony Group Corporation [6758]
Japan Flag
197
20.18
3,972
0.5
RELX PLC [REL]
United Kingdom Flag
126
31.40
3,965
0.5
Silergy Corp. [6415]
Taiwan Flag
208
18.77
3,901
0.5
ASSA ABLOY AB Class B [ASSA.B]
Sweden Flag
110
35.38
3,891
0.5
Bridgestone Corporation [5108]
Japan Flag
183
20.98
3,848
0.5
Sumitomo Metal Mining Co. Ltd. [5713]
Japan Flag
83
45.96
3,796
0.5
Iberdrola SA [IBE]
Spain Flag
148
24.97
3,706
0.5
Carlsberg AS Class B [CARL.B]
Denmark Flag
28
131.05
3,682
0.5
Valterra Platinum Limited [VAL]
South Africa Flag
54
67.50
3,676
0.5
Secure Waste Infrastructure Corp. [SES]
Canada Flag
235
15.62
3,667
0.5
Geberit AG [GEBN]
Switzerland Flag
5
669.19
3,635
0.5
Intertek Group plc [ITRK]
United Kingdom Flag
47
77.05
3,633
0.5
DBS Group Holdings Ltd [D05]
Singapore Flag
71
50.56
3,598
0.5
BOC Aviation Limited [2588]
China Flag
346
10.36
3,583
0.5
Empresa Nacional de Telecomunicaciones S.A. [ENTEL]
Chile Flag
914
3.90
3,567
0.5
First Quantum Minerals Ltd. [FM]
Canada Flag
130
27.31
3,542
0.5
Atkinsrealis Group Inc. [ATRL]
Canada Flag
57
62.08
3,534
0.5
Exchange Income Corporation [EIF]
Canada Flag
38
93.26
3,526
0.5
Loblaw Companies Limited [L]
Canada Flag
77
45.35
3,507
0.5
Shenzhou International Group Holdings Limited [2313]
China Flag
689
5.02
3,457
0.5
Nomura Holdings Inc. [8604]
Japan Flag
396
8.70
3,446
0.5
Bunzl plc [BNZL]
United Kingdom Flag
97
34.91
3,391
0.4
Mitsubishi UFJ Financial Group Inc. [8306]
Japan Flag
169
19.73
3,325
0.4
Canadian Natural Resources Limited [CNQ]
Canada Flag
84
39.56
3,323
0.4
InterContinental Hotels Group PLC [IHG]
United Kingdom Flag
19
172.25
3,317
0.4
Diageo plc [DGE]
United Kingdom Flag
163
20.21
3,299
0.4
Prudential plc [PRU]
United Kingdom Flag
248
13.31
3,298
0.4
Vipshop Holdings Ltd Sponsored ADR [VIPS]
China Flag
247
13.26
3,272
0.4
Olympus Corp. [7733]
Japan Flag
312
10.45
3,262
0.4
Eurofins Scientific SE [ERF]
France Flag
41
78.38
3,235
0.4
Gildan Activewear Inc. [GIL]
Canada Flag
63
51.54
3,228
0.4
Reckitt Benckiser Group plc [RKT]
United Kingdom Flag
49
65.18
3,196
0.4
Franco-Nevada Corporation [FNV]
Canada Flag
15
208.59
3,107
0.4
adidas AG [ADS]
Germany Flag
15
205.11
3,067
0.4
Sandvik AB [SAND]
Sweden Flag
74
41.32
3,058
0.4
Sampo Oyj [SAMPO]
Finland Flag
288
10.51
3,027
0.4
Hiscox Ltd [HSX]
United Kingdom Flag
118
24.51
2,890
0.4
Koninklijke Ahold Delhaize N.V. [AD]
Netherlands Flag
71
40.27
2,857
0.4
Wienerberger AG [WIE]
Austria Flag
104
25.84
2,689
0.4
DCC Plc [DCC]
United Kingdom Flag
32
82.82
2,677
0.3
CNH Industrial NV [CNH]
United States Flag
236
11.23
2,646
0.3
Alimentation Couche-Tard Inc. [ATD]
Canada Flag
41
63.72
2,599
0.3
IG Group Holdings plc [IGG]
United Kingdom Flag
108
24.13
2,595
0.3
Davide Campari-Milano N.V. [CPR]
Italy Flag
414
6.23
2,578
0.3
Mitsubishi Electric Corp. [6503]
Japan Flag
70
36.15
2,531
0.3
ZOZO Inc. [3092]
Japan Flag
357
7.07
2,523
0.3
Finning International Inc. [FTT]
Canada Flag
36
70.61
2,507
0.3
Svenska Handelsbanken AB Class A [SHB.A]
Sweden Flag
169
14.73
2,485
0.3
Hannover Rueck SE [HNR1]
Germany Flag
9
277.14
2,477
0.3
Santos Limited [STO]
Australia Flag
494
5.00
2,469
0.3
Demant A/S [DEMANT]
Denmark Flag
60
41.02
2,450
0.3
Wartsila Oyj Abp [WRT1V]
Finland Flag
64
38.16
2,447
0.3
Legrand SA [LR]
France Flag
14
168.87
2,443
0.3
British American Tobacco p.l.c. [BATS]
United Kingdom Flag
39
62.08
2,439
0.3
Asahi Group Holdings Ltd [2502]
Japan Flag
254
9.52
2,418
0.3
CSL Limited [CSL]
Australia Flag
30
79.49
2,418
0.3
Edenred SA [EDEN]
France Flag
94
25.72
2,411
0.3
Daiwa House Industry Co. Ltd. [1925]
Japan Flag
89
27.18
2,408
0.3
JAPAN POST HOLDINGS Co. Ltd. [6178]
Japan Flag
180
13.35
2,405
0.3
Holcim Ltd [HOLN]
Switzerland Flag
26
90.35
2,379
0.3
Canadian Pacific Kansas City Limited [CP]
Canada Flag
27
86.67
2,365
0.3
QBE Insurance Group Limited [QBE]
Australia Flag
134
17.45
2,333
0.3
Alfa Laval AB [ALFA]
Sweden Flag
39
59.62
2,332
0.3
Murata Manufacturing Co. Ltd. [6981]
Japan Flag
33
70.11
2,307
0.3
Samsonite Group S.A. [1910]
Hong Kong Flag
1,314
1.74
2,282
0.3
Alcon AG [ALC]
Switzerland Flag
33
67.69
2,258
0.3
Entain PLC [ENT]
United Kingdom Flag
301
7.42
2,235
0.3
Brenntag SE [BNR]
Germany Flag
37
60.80
2,233
0.3
Admiral Group plc [ADM]
United Kingdom Flag
47
47.25
2,217
0.3
Technip Energies NV [TE]
France Flag
57
37.87
2,176
0.3
USS Co. Ltd. [4732]
Japan Flag
184
11.71
2,159
0.3
Obayashi Corporation [1802]
Japan Flag
107
20.04
2,140
0.3
ANDRITZ AG [ANDR]
Austria Flag
24
86.43
2,095
0.3
GEA Group Aktiengesellschaft [G1A]
Germany Flag
30
68.66
2,067
0.3
Aristocrat Leisure Limited [ALL]
Australia Flag
48
42.45
2,019
0.3
Experian PLC [EXPN]
United Kingdom Flag
60
33.75
2,015
0.3
easyJet plc [EZJ]
United Kingdom Flag
272
7.41
2,014
0.3
SSP Group Plc [SSPG]
United Kingdom Flag
807
2.49
2,012
0.3
Siemens Healthineers AG [SHL]
Germany Flag
51
39.10
1,998
0.3
Fluidra S.A. [FDR]
Spain Flag
88
22.64
1,993
0.3
Equinor ASA [EQNR]
Norway Flag
62
31.68
1,977
0.3
PT United Tractors Tbk [UNTR]
Indonesia Flag
1,516
1.29
1,950
0.3
Constellation Software Inc. [CSU]
Canada Flag
1
1,881.94
1,946
0.3
Rexel SA [RXL]
France Flag
45
43.69
1,945
0.3
DOWA HOLDINGS CO. LTD. [5714]
Japan Flag
36
53.32
1,936
0.3
Shiseido CompanyLimited [4911]
Japan Flag
120
16.11
1,931
0.3
Serco Group plc [SRP]
United Kingdom Flag
662
2.91
1,924
0.3
ConvaTec Group Plc [CTEC]
United Kingdom Flag
674
2.85
1,924
0.3
Kirin Holdings Co. Ltd. [2503]
Japan Flag
111
17.29
1,913
0.2
East Japan Railway Company [9020]
Japan Flag
89
20.97
1,868
0.2
PrairieSky Royalty Ltd [PSK]
Canada Flag
83
22.37
1,849
0.2
Taiheiyo Cement Corporation [5233]
Japan Flag
75
24.43
1,842
0.2
Jardine Matheson Holdings Limited [J36]
Hong Kong Flag
30
61.50
1,839
0.2
EssilorLuxottica SA [EL]
France Flag
10
187.56
1,838
0.2
Rightmove plc [RMV]
United Kingdom Flag
304
5.82
1,768
0.2
Komatsu Ltd. [6301]
Japan Flag
46
38.65
1,759
0.2
TBS HOLDINGS INC. [9401]
Japan Flag
45
38.30
1,739
0.2
SalMar ASA [SALM]
Norway Flag
37
46.81
1,736
0.2
Coloplast A/S Class B [COLO.B]
Denmark Flag
30
56.94
1,683
0.2
Elis SA [ELIS]
France Flag
54
30.98
1,679
0.2
Coca-Cola Europacific Partners plc [CCEP]
Netherlands Flag
17
100.07
1,674
0.2
ATS Corporation [ATS]
Canada Flag
57
28.81
1,635
0.2
ABC-MART INC. [2670]
Japan Flag
93
17.23
1,608
0.2
Bakkafrost P/F [BAKKA]
Norway Flag
38
40.66
1,563
0.2
Hitachi Ltd. [6501]
Japan Flag
56
27.51
1,543
0.2
Toyo Seikan Group Holdings Ltd. [5901]
Japan Flag
61
25.12
1,540
0.2
CK Hutchison Holdings Ltd [1]
Hong Kong Flag
171
8.45
1,445
0.2
Novonesis A/S Class B [NSIS.B]
Denmark Flag
23
63.15
1,439
0.2
Oracle Corporation Japan [4716]
Japan Flag
28
51.07
1,435
0.2
Hong Kong Exchanges & Clearing Ltd. [388]
Hong Kong Flag
31
46.29
1,432
0.2
Autotrader Group PLC [AUTO]
United Kingdom Flag
211
6.62
1,400
0.2
West Japan Railway Company [9021]
Japan Flag
83
16.77
1,388
0.2
NH Foods Limited [2282]
Japan Flag
36
36.63
1,315
0.2
ASMPT Limited [522]
Hong Kong Flag
42
30.45
1,285
0.2
IHI Corporation [7013]
Japan Flag
76
16.68
1,270
0.2
Nintendo Co. Ltd. [7974]
Japan Flag
30
41.93
1,254
0.2
Richelieu Hardware Ltd [RCH]
Canada Flag
43
28.73
1,239
0.2
Mitsubishi Corporation [8058]
Japan Flag
45
26.75
1,204
0.2
Scout24 SE [G24]
Germany Flag
14
82.72
1,188
0.2
Stella-Jones Inc. [SJ]
Canada Flag
21
55.25
1,186
0.2
Secom Co. Ltd. [9735]
Japan Flag
29
39.72
1,140
0.1
Nippon Television Holdings Inc. [9404]
Japan Flag
66
17.19
1,139
0.1
Mitsubishi Logistics Corporation [9301]
Japan Flag
118
9.50
1,122
0.1
IPH Ltd. [IPH]
Australia Flag
419
2.67
1,120
0.1
Toyo Suisan Kaisha Ltd. [2875]
Japan Flag
17
63.90
1,112
0.1
NEC Corporation [6701]
Japan Flag
46
24.15
1,104
0.1
Tsumura & Co. [4540]
Japan Flag
48
22.88
1,098
0.1
Nikon Corp. [7731]
Japan Flag
78
13.97
1,088
0.1
Sega Sammy Holdings Inc. [6460]
Japan Flag
80
13.58
1,081
0.1
Idemitsu Kosan Co. Ltd. [5019]
Japan Flag
144
7.37
1,058
0.1
Henderson Land Development Co. Ltd. [12]
Hong Kong Flag
333
3.16
1,053
0.1
Inchcape plc [INCH]
United Kingdom Flag
102
10.23
1,041
0.1
bioMerieux SA [BIM]
France Flag
13
78.54
1,037
0.1
Qantas Airways Limited [QAN]
Australia Flag
141
7.36
1,036
0.1
ITV PLC [ITV]
United Kingdom Flag
967
1.07
1,034
0.1
Seven & I Holdings Co. Ltd. [3382]
Japan Flag
85
12.04
1,025
0.1
ALS Ltd. [ALQ]
Australia Flag
65
15.82
1,024
0.1
Rotork plc [ROR]
United Kingdom Flag
258
3.92
1,013
0.1
WH Smith PLC [SMWH]
United Kingdom Flag
193
5.22
1,005
0.1
ENEOS Holdings Inc. [5020]
Japan Flag
133
7.37
982
0.1
Taisei Corporation [1801]
Japan Flag
11
87.68
934
0.1
Whitbread PLC [WTB]
United Kingdom Flag
29
31.73
927
0.1
Inpex Corporation [1605]
Japan Flag
45
20.09
910
0.1
Galaxy Entertainment Group Limited [27]
Hong Kong Flag
242
3.75
908
0.1
Alten SA [ATE]
France Flag
15
60.59
904
0.1
Mitsubishi Motors Corporation [7211]
Japan Flag
445
1.92
854
0.1
Bayerische Motoren Werke AG [BMW]
Germany Flag
13
65.47
844
0.1
Nitori Holdings Co. Ltd. [9843]
Japan Flag
56
14.86
836
0.1
Spin Master Corp [TOY]
Canada Flag
57
14.36
820
0.1
Befesa SA [BFSA]
Germany Flag
24
34.13
818
0.1
Ship Healthcare Holdings Inc. [3360]
Japan Flag
61
13.33
814
0.1
Viscofan S.A. [VIS]
Spain Flag
12
66.77
814
0.1
Reliance Worldwide Corp. Ltd. [RWC]
Australia Flag
300
2.71
812
0.1
Orora Limited [ORA]
Australia Flag
825
0.96
791
0.1
AGC Inc. [5201]
Japan Flag
18
42.85
776
0.1
Barratt Redrow plc [BTRW]
United Kingdom Flag
202
3.73
755
0.1
Brookfield Asset Management Ltd. Class A [BAM]
Canada Flag
17
44.84
754
0.1
Kubota Corporation [6326]
Japan Flag
45
16.52
744
0.1
Irish Continental Group PLC [IR5B]
Ireland Flag
104
7.11
739
0.1
TGS ASA [TGS]
Norway Flag
55
13.03
722
0.1
Fresenius Medical Care AG [FME]
Germany Flag
15
45.27
690
0.1
Swire Pacific Limited Class A [19]
Hong Kong Flag
66
10.42
688
0.1
Kinden Corporation [1944]
Japan Flag
14
48.89
675
0.1
Pets At Home Group Plc [PETS]
United Kingdom Flag
286
2.35
673
0.1
MEGMILK SNOW BRAND Co. Ltd. [2270]
Japan Flag
30
22.37
669
0.1
Newmont Corporation Registered Chess Depositary Interests Repr 1 Sh [NEM]
United States Flag
7
93.20
650
0.1
Acerinox SA [ACX]
Spain Flag
37
17.53
641
0.1
Dassault Systemes SE [DSY]
France Flag
31
20.37
637
0.1
Rathbones Group PLC [RAT]
United Kingdom Flag
30
21.26
636
0.1
Sysmex Corporation [6869]
Japan Flag
65
9.05
586
0.1
Daiei Kankyo Co. Ltd. [9336]
Japan Flag
25
23.29
578
0.1
Amplifon SpA [AMP]
Italy Flag
53
10.83
573
0.1
Hakuhodo Dy Holdings Incorporated [2433]
Japan Flag
74
7.05
523
0.1
Jupiter Fund Management plc [JUP]
United Kingdom Flag
230
2.17
500
0.1
Kanadevia Corporation [7004]
Japan Flag
64
7.81
498
0.1
Treasury Wine Estates Limited [TWE]
Australia Flag
148
3.30
488
0.1
OSAKA Titanium Technologies Co. Ltd. [5726]
Japan Flag
25
16.74
420
0.1
Seria Co. Ltd. [2782]
Japan Flag
18
22.37
398
0.1
Close Brothers Group plc [CBG]
United Kingdom Flag
61
5.38
330
0.0
GN Store Nord A/S [GN]
Denmark Flag
25
13.35
327
0.0
PT Astra International Tbk [ASII]
Indonesia Flag
1,272
0.25
321
0.0
PageGroup PLC [PAGE]
United Kingdom Flag
227
1.41
320
0.0
Domino's Pizza Enterprises Limited [DMP]
Australia Flag
27
10.83
295
0.0
Deterra Royalties Ltd [DRR]
Australia Flag
84
3.26
273
0.0
WPP Plc [WPP]
United Kingdom Flag
72
3.13
225
0.0
Air Water Inc. [4088]
Japan Flag
11
17.03
194
0.0
Swire Pacific Limited Class B [87]
Hong Kong Flag
77
1.59
122
0.0
Lumine Group Inc. [LMN]
Canada Flag
5
15.15
80
0.0
Severstal PAO Sponsored GDR RegS [SVJTY]
--
320
--
0
0.0
Total
--
--
--
757,854
98.7
Cash and Other Assets Less Liabilities
--
--
--
--
1.3
Total Net Assets
--
--
--
--
100.0

As of 6/30/2026

Economic Sector
Diversified International All Cap Fund %
MSCI All Country World Ex. US (ND) Index %

Information Technology

65.5
64.1

Utilities

9.8
0.9

Financials

9.5
13.2

Industrials

7.8
10.2

Consumer Discretionary

4.8
1.4

Communication Services

4.6
-2.8

Health Care

4.2
2.4

Consumer Staples

1.8
3.8

[Unassigned]

0.8
28.6

Materials

-0.8
-1.2

Real Estate

-1.9
2.7

Energy

-15.1
-12.3

As of 6/30/2026

Sector Breakdown

Financials

HAIDX

25.9%

Benchmark

24.2%

Industrials

HAIDX

18.9%

Benchmark

14.1%

Information Technology

HAIDX

13.1%

Benchmark

22.9%

Consumer Discretionary

HAIDX

10.4%

Benchmark

7.5%

Materials

HAIDX

8.3%

Benchmark

6.4%

Consumer Staples

HAIDX

7.9%

Benchmark

5.1%

Energy

HAIDX

5.0%

Benchmark

4.3%

Health Care

HAIDX

4.1%

Benchmark

6.9%

Communication Services

HAIDX

3.6%

Benchmark

4.3%

Real Estate

HAIDX

1.3%

Benchmark

1.3%

Cash

HAIDX

1.0%

Benchmark

0.0%

Utilities

HAIDX

0.5%

Benchmark

3.1%

HAIDX: Diversified International All Cap Fund

Benchmark: MSCI All Country World Ex. US (ND) Index

As of 6/30/2026

Country
Diversified International All Cap Fund %
MSCI All Country World Ex. US (ND) Index %
United Kingdom
16.3
8.3
Japan
14.5
13.7
Canada
8.2
8.1
Taiwan
7.3
9.2
France
4.1
5.8
South Korea
3.9
7.9
Hong Kong
3.7
1.0
China
3.5
6.2
South Africa
3.4
1.0
Sweden
2.7
2.0
Other
32.4
36.8

Investment Team

Marathon London

Marathon Asset Management Limited (Marathon‑London) is an independent investment management firm with a 35+ year track record of managing regional, international and global equity strategies on behalf of institutional clients. Marathon‑London’s distinctive investment philosophy, referred to as the capital cycle approach to investing, focuses on understanding the supply‑side longer‑term dynamics within a competitive ecosystem, management behavior in driving an attractive capital cycle dynamic, and how the evolution of supply‑side forces impact the economics of the businesses within a particular industry. Marathon‑London operates a multi‑counselor model in which portfolio managers are generalists focused on specific regions (Europe, Japan, Pacific ex‑Japan and the Emerging Markets, and North America) and are independently accountable for their own buy/sell decisions. Each portfolio is then aggregated up for broader international and global equity mandates. There are no committee‑based decision‑making structures which, in turn, allows the portfolio managers the independence and flexibility to execute their skills as stock pickers and aligns their incentives with that of Marathon‑London’s clients.

Charles Carter

Charles Carter

Managing Director and Portfolio Manager, Europe

Nick Longhurst

Nick Longhurst

Portfolio Manager, Europe

William J. Arah

William J. Arah

Co-founder and Portfolio Manager, Japan

Toma Kobayashi

Toma Kobayashi

Portfolio Manager, Pacific

Robert Anstey

Robert Anstey

Portfolio Manager, North America

Justin Hill

Justin Hill

Portfolio Manager, Pacific

Alex Duffy

Alex Duffy

Portfolio Manager, Emerging Markets

Important Information

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 and mid cap companies pose special risks, including possible illiquidity and greater price volatility than stocks of larger, more established companies. Marathon‑London's assessment of the capital cycle for a particular industry or company may be incorrect. Investing in companies at inopportune phases of the capital cycle can result in the Fund purchasing company stock at pricing levels that are higher than the market dynamics would support and therefore subject the Fund to greater risk that the stock price would decline rather than increase over time.

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.

©2026 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.