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Harbor International Fund (HAINX)

Harbor International Fund (HAINX)

Welcome
Overview
Performance
Holdings
Investment Team
Documents
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Class

Broad Exposure. The fund’s diversified all-cap approaches 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.

Related Funds to Consider

Overview

Investment Team
Marathon London
Charles Carter photo
Nick Longhurst photo
Bill Arah photo
Toma Kobayashi photo
Justin Hill photo
Alex Duffy photo

Current Price

As of 4/19/2024

$44.92

Price (NAV)

-$0.17

NAV Daily Change ($)

-0.38%

NAV Daily Change (%)

1.84%

NAV YTD Return

Fund Facts

As of 3/31/2024

12/29/1987

Inception Date

0.77

Net Expense Ratio
disclaimer

0.89

Gross Expense Ratio

$2,705.562

Total Net Assets (million)
As of 3/31/2024

HAINX

Ticker

2011

Fund Number

Institutional Class

Share Class

Top Ten Holdings

As of 3/31/2024

Company Name [Ticker]

% of Net Assets

Novo Nordisk A/S Class B[NOVO.B]
4.0
3i Group plc[III]
2.1
BP p.l.c.[BP]
2.0
ASML Holding NV[ASML]
2.0
UniCredit S.p.A.[UCG]
1.5
Rolls-Royce Holdings plc[RR]
1.4
Schneider Electric SE[SU]
1.4
RELX PLC[REL]
1.4
Flutter Entertainment Plc[FLTR]
1.3
Compagnie Financiere Richemont SA[CFR]
1.3
% of Total Holdings:
18.4%

Morningstar Medalist Rating™

Morningstar Silver
Analyst-Driven %
100
Data Coverage %
100
As of 12/10/2023

“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

Total Returns

Month-End

3 Mo.

YTD Return

1 Yr.

3 Yr.

5 Yr.

10 Yr.

Since Inception

Net Expense Ratio

Gross Expense Ratio

International Fund
6.26%
6.26%
14.78%
3.60%
7.63%
3.58%
9.66%
0.77%disclaimer
0.89%
MSCI EAFE (ND) Index
5.78%
5.78%
15.32%
4.78%
7.33%
4.80%
5.46%
--
--

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 (ND) Index is an unmanaged index generally representative of major overseas stock markets. 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

12/18/2023
12/19/2023
12/19/2023
0.00000
1.56582
0.00000
--
0.00000
--
1.56582
0.08853
43.29
12/16/2022
12/19/2022
12/19/2022
0.00000
1.30783
0.00000
--
0.00000
--
1.30783
0.00000
38.68
12/17/2021
12/20/2021
12/20/2021
0.00000
1.01357
0.00000
--
0.00000
--
1.01357
0.07776
45.46
12/16/2020
12/17/2020
12/17/2020
0.00000
0.46148
0.00000
0.00000
0.00000
0.00000
0.46148
0.07883
43.88
12/13/2019
12/16/2019
12/16/2019
0.00000
1.24858
0.00000
0.00000
0.00000
0.00000
1.24858
0.12363
40.14
12/14/2018
12/17/2018
12/17/2018
0.00000
0.82960
20.86815
0.00000
0.00000
20.86815
21.69775
0.22951
33.78
12/15/2017
12/18/2017
12/18/2017
0.00000
1.24034
2.99764
0.00000
0.00000
2.99764
4.23798
0.11794
67.12
12/16/2016
12/19/2016
12/19/2016
0.00000
1.16303
0.00000
0.00000
0.00000
0.00000
1.16303
0.09833
58.20
12/16/2015
12/17/2015
12/17/2015
0.00000
1.08101
1.77257
0.00000
0.00000
1.77257
2.85358
0.08429
58.99
12/17/2014
12/18/2014
12/18/2014
0.00000
1.41848
0.00000
0.00000
0.00000
0.00000
1.41848
0.07359
65.81
12/16/2013
12/17/2013
12/17/2013
0.00000
1.49528
0.00000
0.00000
0.00000
0.00000
1.49528
0.08165
67.62
12/14/2012
12/17/2012
12/17/2012
0.00000
1.25643
0.00000
0.00000
0.00000
0.00000
1.25643
0.14974
61.27
12/15/2011
12/16/2011
12/16/2011
0.00000
1.31560
0.00000
0.00000
0.00000
0.00000
1.31560
0.17522
50.66
12/16/2010
12/17/2010
12/17/2010
0.00000
0.87167
0.00000
0.00000
0.00000
0.00000
0.87167
0.13258
59.15
12/17/2009
12/18/2009
12/18/2009
0.00000
0.70484
0.00000
0.00000
0.00000
0.00000
0.70484
0.11336
53.48
12/18/2008
12/19/2008
12/19/2008
0.00000
0.77735
0.00000
0.00000
0.00000
0.00000
0.77735
0.19041
39.05
12/18/2007
12/19/2007
12/19/2007
0.00000
1.05527
3.02183
0.34462
0.00000
2.67721
4.07710
0.14071
69.04
12/18/2006
12/19/2006
12/19/2006
0.00000
1.46093
1.88471
0.00000
0.00000
1.88471
3.34564
0.10523
61.04
12/19/2005
12/20/2005
12/20/2005
0.00000
1.03063
1.22051
0.00000
0.00000
1.22051
2.25114
0.07827
48.73
12/29/2004
12/30/2004
12/30/2004
0.00000
0.55524
0.14616
0.00000
0.00000
0.14616
0.70140
0.09876
42.76
12/29/2003
12/30/2003
12/30/2003
0.00000
0.50578
0.55692
0.03901
0.00000
0.51791
1.06270
0.07268
36.54
12/27/2002
12/30/2002
12/30/2002
0.00000
0.33594
0.53886
0.04311
0.00000
0.49575
0.87480
0.06104
26.69
12/26/2001
12/27/2001
12/28/2001
0.00000
0.26688
0.88186
0.00000
0.00000
0.88186
1.14874
0.11084
29.33
12/20/2000
12/21/2000
12/22/2000
0.00000
0.70766
3.79229
0.03436
0.00000
3.75793
4.49995
0.13765
33.66
12/21/1999
12/22/1999
12/23/1999
0.00000
0.64848
2.86003
0.21616
0.00000
2.64387
3.50851
0.12059
40.44
12/28/1998
12/29/1998
12/31/1998
0.00000
0.57892
2.30081
0.39990
0.00000
1.90091
2.87973
0.09880
37.02
12/24/1997
12/26/1997
12/31/1997
0.00000
0.40207
0.89753
0.00620
0.57590
0.31543
1.29960
0.08812
35.10
12/24/1996
12/26/1996
12/31/1996
0.00000
0.41813
0.79650
0.16255
0.00000
0.63395
1.21463
0.08353
31.51
12/22/1995
12/26/1995
12/29/1995
0.00000
0.40631
0.12780
0.01756
0.00000
0.11024
0.53411
0.07427
27.68
12/23/1994
12/27/1994
12/30/1994
0.00000
0.24677
0.93678
0.19100
0.00000
0.74578
1.18355
0.06892
24.31
12/23/1993
12/27/1993
12/31/1993
0.00000
0.21245
0.00000
0.00000
0.00000
0.00000
0.21245
0.04211
24.34
12/24/1992
12/28/1992
12/31/1992
0.00000
0.21765
0.17891
0.07245
0.00000
0.10646
0.39656
0.03544
16.93
12/26/1991
12/27/1991
12/31/1991
0.00000
0.21119
0.00000
0.00000
0.00000
0.00000
0.21119
0.03169
17.00
12/24/1990
12/26/1990
12/31/1990
0.00000
0.33859
0.34342
0.00369
0.00000
0.33973
0.68201
0.00000
14.33
12/21/1989
12/22/1989
12/30/1989
0.00000
0.16964
0.72455
0.35871
0.00000
0.36584
0.89419
0.00000
16.37
12/23/1988
12/27/1988
12/30/1988
0.00000
0.10276
0.75981
0.62003
0.00000
0.13978
0.86257
0.00000
12.78

Holdings

Portfolio Characteristics

As of 3/31/2024

280

Number of Holdings

65263.5

Wtd Avg Market Cap ($Mil)

2.24

Price/Book Ratio

19.4

Adjusted Trailing P/E Ratio

29

% EPS Growth - Past 3 Yr

14.33

Return on Equity (%)

17.4

Forecasted P/E Ratio

Top Ten Holdings

As of 3/31/2024

Company Name [Ticker]

% of Net Assets

Novo Nordisk A/S Class B[NOVO.B]
4.0
3i Group plc[III]
2.1
BP p.l.c.[BP]
2.0
ASML Holding NV[ASML]
2.0
UniCredit S.p.A.[UCG]
1.5
Rolls-Royce Holdings plc[RR]
1.4
Schneider Electric SE[SU]
1.4
RELX PLC[REL]
1.4
Flutter Entertainment Plc[FLTR]
1.3
Compagnie Financiere Richemont SA[CFR]
1.3
% of Total Holdings:
18.4%

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 3/31/2024

Company Name [Ticker]

Country

Shares (000's)

Current Price ($)

Market Value ($000's)

% of Net Assets

Novo Nordisk A/S Class B [NOVO.B]
1,112
127.60
141,903
4.0
3i Group plc [III]
2,135
35.48
75,774
2.1
BP p.l.c. [BP]
11,415
6.26
71,479
2.0
ASML Holding NV [ASML]
74
963.58
71,308
2.0
UniCredit S.p.A. [UCG]
1,427
37.99
54,216
1.5
Rolls-Royce Holdings plc [RR]
9,359
5.39
50,445
1.4
Schneider Electric SE [SU]
220
226.42
49,924
1.4
RELX PLC [REL]
1,143
43.25
49,444
1.4
Flutter Entertainment Plc [FLTR]
236
199.47
47,114
1.3
Compagnie Financiere Richemont SA [CFR]
294
152.66
44,880
1.3
Mitsubishi Heavy Industries Ltd. [7011]
4,610
9.57
44,122
1.3
Diageo plc [DGE]
1,181
36.96
43,659
1.2
Glencore plc [GLEN]
7,898
5.50
43,433
1.2
Nippon Telegraph and Telephone Corporation [9432]
36,205
1.19
43,012
1.2
Compass Group PLC [CPG]
1,443
29.35
42,347
1.2
Edenred SA [EDEN]
761
53.42
40,658
1.2
Vestas Wind Systems A/S [VWS]
1,431
27.94
39,999
1.1
Carlsberg AS Class B [CARL.B]
275
136.62
37,590
1.1
BAE Systems plc [BA]
2,160
17.05
36,829
1.0
Barclays PLC [BARC]
15,496
2.31
35,862
1.0
CaixaBank SA [CABK]
7,309
4.85
35,468
1.0
Resona Holdings Inc. [8308]
5,583
6.28
35,056
1.0
Coloplast A/S Class B [COLO.B]
257
135.00
34,740
1.0
Bunzl plc [BNZL]
860
38.50
33,109
0.9
Geberit AG [GEBN]
55
591.76
32,645
0.9
ASSA ABLOY AB Class B [ASSA.B]
1,117
28.72
32,069
0.9
Brenntag SE [BNR]
373
84.33
31,459
0.9
DNB Bank ASA [DNB]
1,585
19.83
31,426
0.9
Kirin Holdings Co. Ltd. [2503]
2,271
13.86
31,484
0.9
Sumitomo Mitsui Trust Holdings Inc. [8309]
1,438
21.86
31,429
0.9
CNH Industrial NV [CNHI]
2,393
12.96
31,010
0.9
Demant A/S [DEMANT]
609
49.66
30,227
0.9
HitachiLtd. [6501]
327
91.88
30,071
0.9
Intertek Group plc [ITRK]
479
62.97
30,144
0.9
Wienerberger AG [WIE]
826
36.46
30,107
0.9
Tokio Marine Holdings Inc. [8766]
894
31.07
27,765
0.8
Bayerische Motoren Werke AG [BMW]
232
115.52
26,821
0.8
Bank of Ireland Group Plc [BIRG]
2,609
10.21
26,630
0.8
adidas AG [ADS]
116
223.56
26,032
0.7
Royal KPN NV [KPN]
6,671
3.74
24,972
0.7
Sampo Oyj [SAMPO]
585
42.68
24,966
0.7
Hannover Rueck SE [HNR1]
91
274.00
24,873
0.7
Reckitt Benckiser Group plc [RKT]
436
57.00
24,876
0.7
ArcelorMittal SA [MT]
887
27.49
24,381
0.7
Nomura Holdings Inc. [8604]
3,708
6.46
23,954
0.7
Daiwa House Industry Co. Ltd. [1925]
763
29.92
22,813
0.6
NEC Corp. [6701]
314
72.62
22,772
0.6
Obayashi Corporation [1802]
1,805
12.31
22,215
0.6
Holcim Ltd [HOLN]
237
90.66
21,447
0.6
Koninklijke Ahold Delhaize N.V. [AD]
721
29.94
21,575
0.6
Davide Campari-Milano N.V. [CPR]
2,099
10.06
21,113
0.6
Entain PLC [ENT]
2,105
10.07
21,208
0.6
EssilorLuxottica SA [EL]
94
226.48
21,192
0.6
Fluidra S.A. [FDR]
894
23.67
21,153
0.6
Bridgestone Corporation [5108]
470
43.98
20,679
0.6
ConvaTec Group Plc [CTEC]
5,635
3.62
20,386
0.6
InterContinental Hotels Group PLC [IHG]
196
104.12
20,357
0.6
Standard Chartered PLC [STAN]
2,362
8.48
20,034
0.6
DCC Plc [DCC]
274
72.76
19,969
0.6
SSP Group Plc [SSPG]
7,080
2.77
19,606
0.5
Dai-ichi Life HoldingsInc. [8750]
756
25.46
19,241
0.5
Inpex Corporation [1605]
1,243
15.46
19,218
0.5
Mitsubishi Electric Corp. [6503]
1,144
16.60
18,995
0.5
Hiscox Ltd [HSX]
1,197
15.66
18,742
0.5
Renesas Electronics Corporation [6723]
1,072
17.65
18,921
0.5
Lloyds Banking Group plc [LLOY]
28,103
0.65
18,375
0.5
Eurofins Scientific SE [ERF]
280
63.81
17,879
0.5
easyJet plc [EZJ]
2,468
7.21
17,793
0.5
Rightmove plc [RMV]
2,473
6.94
17,167
0.5
Svenska Handelsbanken AB Class A [SHB.A]
1,714
10.12
17,349
0.5
ZOZO Inc. [3092]
679
25.15
17,073
0.5
BHP Group Ltd [BHP]
570
28.88
16,459
0.5
Equinor ASA [EQNR]
634
26.40
16,739
0.5
PageGroup PLC [PAGE]
2,911
5.67
16,494
0.5
Sandvik AB [SAND]
752
22.23
16,715
0.5
AIA Group Limited [1299]
2,413
6.71
16,199
0.5
Serco Group plc [SRP]
6,721
2.40
16,106
0.5
Taiheiyo Cement Corporation [5233]
703
23.25
16,341
0.5
Toyo Suisan Kaisha Ltd. [2875]
258
62.61
16,177
0.5
DBS Group Holdings Ltd [D05]
598
26.70
15,958
0.5
Experian PLC [EXPN]
361
43.63
15,753
0.5
Taiwan Semiconductor Manufacturing Co. Ltd. [2330]
648
24.34
15,773
0.5
Air Water Inc. [4088]
977
15.82
15,454
0.4
Legrand SA [LR]
147
106.08
15,593
0.4
ANDRITZ AG [ANDR]
246
62.42
15,354
0.4
Prudential plc [PRU]
1,574
9.39
14,769
0.4
Technip Energies NV [TE]
583
25.28
14,750
0.4
Randstad NV [RAND]
273
52.83
14,398
0.4
Auto Trader Group PLC [AUTO]
1,604
8.85
14,185
0.4
CSL Limited [CSL]
76
187.84
14,253
0.4
Gerresheimer AG [GXI]
124
112.75
14,034
0.4
Fresenius Medical Care AG [FME]
359
38.50
13,833
0.4
Itochu Corporation [8001]
320
42.72
13,676
0.4
Samsung Electronics Co. Ltd. [005930]
225
61.21
13,746
0.4
TDK Corporation [6762]
269
49.43
13,272
0.4
Amplifon S.p.A. [AMP]
354
36.50
12,931
0.4
GEA Group Aktiengesellschaft [G1A]
306
42.33
12,938
0.4
Elis SA [ELIS]
550
22.74
12,507
0.4
Coca-Cola Europacific Partners plc [CCEP]
170
69.95
11,882
0.3
Fuji Media Holdings Inc. [4676]
919
13.11
12,050
0.3
QBE Insurance Group Limited [QBE]
987
11.83
11,676
0.3
Toyota Industries Corp. [6201]
113
103.41
11,716
0.3
DS Smith Plc [SMDS]
2,247
5.01
11,261
0.3
Nippon Television Holdings Inc. [9404]
727
15.33
11,139
0.3
Rotork plc [ROR]
2,623
4.15
10,894
0.3
TBS HOLDINGS INC. [9401]
385
28.80
11,074
0.3
Asahi Group HoldingsLtd. [2502]
291
36.88
10,718
0.3
Sumitomo Metal Mining Co. Ltd. [5713]
355
30.31
10,756
0.3
Taisei Corporation [1801]
286
37.13
10,638
0.3
Admiral Group plc [ADM]
284
35.84
10,167
0.3
NH Foods Limited [2282]
304
33.62
10,230
0.3
JAPAN POST HOLDINGS Co. Ltd. [6178]
966
10.12
9,776
0.3
Rexel SA [RXL]
364
27.03
9,830
0.3
SCSK Corporation [9719]
519
18.75
9,732
0.3
Toyo Seikan Group Holdings Ltd. [5901]
625
16.11
10,065
0.3
Wartsila Oyj Abp [WRT1V]
651
15.22
9,912
0.3
Fukuoka Financial Group Inc. [8354]
355
26.73
9,493
0.3
Tsumura & Co. [4540]
381
25.26
9,622
0.3
INFRONEER Holdings Inc. [5076]
964
9.54
9,193
0.3
Sega Sammy Holdings Inc. [6460]
692
13.30
9,208
0.3
Daifuku Co. Ltd. [6383]
373
23.68
8,838
0.3
Nissan Chemical Corporation [4021]
234
37.83
8,840
0.3
Sony Group Corporation [6758]
104
85.80
8,940
0.3
Marui Group Co. Ltd. [8252]
532
16.16
8,588
0.2
Net One Systems Co. Ltd. [7518]
482
17.84
8,594
0.2
Santos Limited [STO]
1,698
5.06
8,584
0.2
Alfa Laval AB [ALFA]
210
39.35
8,265
0.2
Alten SA [ATE]
57
146.02
8,259
0.2
Barratt Developments PLC [BDEV]
1,358
6.01
8,161
0.2
Inchcape plc [INCH]
890
9.15
8,143
0.2
Mitsubishi Logistics Corporation [9301]
251
32.87
8,234
0.2
Sumitomo Bakelite Co. Ltd. [4203]
267
30.58
8,152
0.2
WH Smith PLC [SMWH]
481
16.64
8,008
0.2
ABC-MART INC. [2670]
403
19.15
7,716
0.2
ITV PLC [ITV]
8,416
0.93
7,857
0.2
Techtronic Industries Co. Ltd. [669]
536
13.56
7,266
0.2
Oracle Corporation Japan [4716]
94
75.69
7,092
0.2
PT Bank Central Asia Tbk [BBCA]
11,080
0.64
7,040
0.2
Qantas Airways Limited [QAN]
1,944
3.56
6,914
0.2
Stabilus SE [STM]
113
63.72
7,186
0.2
Viscofan S.A. [VIS]
112
63.61
7,107
0.2
Woodside Energy Group Ltd [WDS]
362
19.90
7,197
0.2
WPP Plc [WPP]
728
9.52
6,932
0.2
GN Store Nord A/S [GN]
249
26.44
6,587
0.2
Nisshinbo Holdings Inc. [3105]
817
8.14
6,650
0.2
Pets At Home Group Plc [PETS]
2,018
3.39
6,841
0.2
HDFC Bank Limited Sponsored ADR [HDB]
113
55.97
6,352
0.2
Kyocera Corporation [6971]
468
13.36
6,251
0.2
Playtech plc [PTEC]
1,080
5.83
6,294
0.2
Dowa Holdings Co. Ltd. [5714]
172
35.21
6,049
0.2
NS Solutions Corp [2327]
185
32.64
6,025
0.2
Rathbones Group PLC [RAT]
304
19.56
5,937
0.2
Befesa SA [BFSA]
165
34.43
5,686
0.2
Brambles Limited [BXB]
524
10.54
5,523
0.2
Galaxy Entertainment Group Limited [27]
1,115
5.02
5,599
0.2
Grupo Financiero Banorte SAB de CV Class O [GFNORTEO]
519
10.61
5,505
0.2
Samsonite International S.A. [1910]
1,486
3.78
5,621
0.2
Southern Copper Corporation [SCCO]
53
106.52
5,651
0.2
Swire Pacific Limited Class A [19]
688
8.23
5,661
0.2
Aristocrat Leisure Limited [ALL]
185
28.05
5,192
0.2
Compagnie Financiere Richemont SA [CFR]
34
152.48
5,134
0.2
Irish Continental Group PLC Units Cons.of 1 Sh (CH24411198)and up to 10 Red Shs (Nil Issued) [IR5B]
1,039
5.24
5,442
0.2
Komatsu Ltd. [6301]
183
29.22
5,345
0.2
Kubota Corporation [6326]
334
15.75
5,253
0.2
Miura Co. Ltd. [6005]
279
19.33
5,395
0.2
SENKO Group Holdings Co.Ltd. [9069]
714
7.58
5,412
0.2
USS Co. Ltd. [4732]
627
8.34
5,229
0.2
Daiei Kankyo Co. Ltd. [9336]
290
17.66
5,116
0.1
Hakuhodo Dy Holdings Incorporated [2433]
554
9.15
5,072
0.1
Hana Financial Group Inc. [086790]
119
42.86
5,099
0.1
HSBC Holdings Plc [5]
642
7.81
5,016
0.1
Medipal Holdings Corporation [7459]
321
15.33
4,915
0.1
MEGMILK SNOW BRAND Co. Ltd. [2270]
273
18.01
4,923
0.1
Olympus Corp. [7733]
335
14.62
4,899
0.1
Advantech Co. Ltd. [2395]
375
12.62
4,728
0.1
Baidu Inc Sponsored ADR Class A [BIDU]
45
105.28
4,735
0.1
Future plc [FUTR]
582
7.74
4,507
0.1
Jardine Matheson Holdings Limited [J36]
128
37.30
4,774
0.1
John Wood Group PLC [WG]
2,753
1.67
4,600
0.1
Oji Holdings Corp. [3861]
1,133
4.21
4,776
0.1
PERSOL HOLDINGS CO. LTD. [2181]
3,177
1.41
4,482
0.1
Shinhan Financial Group Co. Ltd. [055550]
132
34.17
4,526
0.1
Tata Consultancy Services Limited [532540]
102
46.48
4,744
0.1
Arca Continental SAB de CV [AC]
393
10.92
4,293
0.1
Bluescope Steel Limited [BSL]
264
15.56
4,102
0.1
CK Hutchison Holdings Ltd [1]
875
4.83
4,224
0.1
Secom Co. Ltd. [9735]
56
72.42
4,077
0.1
Acerinox SA [ACX]
361
10.98
3,962
0.1
ALS Ltd. [ALQ]
452
8.57
3,873
0.1
Evolution Mining Limited [EVN]
1,688
2.34
3,942
0.1
Seven & I Holdings Co. Ltd. [3382]
257
14.58
3,743
0.1
Ship Healthcare Holdings Inc. [3360]
281
13.89
3,899
0.1
Bid Corporation Limited [BID]
149
24.39
3,638
0.1
Capitec Bank Holdings Limited [CPI]
32
110.68
3,540
0.1
Copa Holdings S.A. Class A [CPA]
34
104.16
3,553
0.1
HANKOOK TIRE & TECHNOLOGY Co. Ltd. [161390]
91
40.26
3,678
0.1
Localiza Rent A Car SA [RENT3]
323
10.92
3,533
0.1
L'Occitane International S.A. [973]
850
4.04
3,438
0.1
NSK Ltd. [6471]
581
5.84
3,394
0.1
Topcon Corp. [7732]
297
11.78
3,498
0.1
Yum China Holdings Inc. [YUMC]
88
39.79
3,482
0.1
B3 SA - Brasil Bolsa Balcao [B3SA3]
1,367
2.40
3,274
0.1
Cleanaway Waste Management Ltd. [CWY]
1,830
1.77
3,247
0.1
Close Brothers Group plc [CBG]
605
5.28
3,198
0.1
Delta Electronics Inc. [2308]
292
10.66
3,111
0.1
HelloFresh SE [HFG]
434
7.12
3,090
0.1
IG Group Holdings plc [IGG]
347
9.22
3,202
0.1
Sekisui Chemical Co. Ltd. [4204]
228
14.73
3,359
0.1
Vipshop Holdings Ltd Sponsored ADR [VIPS]
195
16.55
3,222
0.1
Infosys Limited Sponsored ADR [INFY]
165
17.93
2,950
0.1
MediaTek Inc [2454]
79
37.34
2,950
0.1
Naspers Limited Class N [NPN]
16
177.31
2,874
0.1
Penta-Ocean Construction Co. Ltd. [1893]
528
5.13
2,712
0.1
Shenzhou International Group Holdings Limited [2313]
302
9.47
2,858
0.1
Cemex SAB de CV Sponsored ADR [CX]
288
9.01
2,591
0.1
Fletcher Building Limited [FBU]
964
2.46
2,376
0.1
Great Eastern Holdings Limited [G07]
178
13.50
2,400
0.1
Havells India Limited [517354]
127
18.16
2,314
0.1
Jupiter Fund Management plc [JUP]
2,248
1.12
2,515
0.1
Thai Beverage Public Co. Ltd. [Y92]
6,894
0.36
2,503
0.1
BOC Aviation Limited [2588]
293
7.70
2,255
0.1
CAR Group Limited [CAR]
88
23.54
2,082
0.1
Embotelladora Andina SA Pfd B [ANDINA.B]
798
2.53
2,019
0.1
International Personal Finance plc [IPF]
1,527
1.38
2,102
0.1
MatsukiyoCocokara & Co. [3088]
137
16.12
2,210
0.1
Newmont Corporation Registered Shs Chess Depositary Interests Repr 1 Sh [NEM]
59
35.04
2,083
0.1
Prio SA [PRIO3]
235
9.74
2,284
0.1
African Rainbow Minerals Limited [ARI]
209
8.69
1,816
0.1
Chailease Holding Co. Ltd. [5871]
297
5.37
1,596
0.1
Domino's Pizza Enterprises Limited [DMP]
60
28.31
1,701
0.1
Gestamp Automocion S.A. [GEST]
566
3.22
1,822
0.1
Hyundai Motor Company [005380]
11
173.07
1,866
0.1
Marico Limited [531642]
318
5.96
1,898
0.1
Pilbara Minerals Limited [PLS]
657
2.50
1,643
0.1
Zhongsheng Group Holdings Ltd. [881]
1,003
1.73
1,737
0.1
Capita plc [CPI]
7,943
0.17
1,325
0.0
Dabur India Limited [500096]
247
6.27
1,552
0.0
First Quantum Minerals Ltd. [FM]
117
10.76
1,262
0.0
Li Ning Company Limited [2331]
562
2.66
1,492
0.0
Ping An Insurance (Group) Company of China Ltd. Class H [2318]
334
4.22
1,408
0.0
Stella International Holdings Limited [1836]
891
1.59
1,420
0.0
ASMPT Limited [522]
79
12.57
997
0.0
First Pacific Co. Ltd. [142]
2,266
0.50
1,141
0.0
IPH Ltd. [IPH]
285
4.12
1,173
0.0
Johnson Electric Holdings Limited [179]
862
1.39
1,194
0.0
Axis Bank Limited [532215]
69
12.56
863
0.0
Gruma SAB de CV Class B [GRUMAB]
32
18.69
590
0.0
Vanquis Banking Group PLC [VANQ]
877
0.67
584
0.0
Ajisen (China) Holdings Limited [538]
2,241
0.13
292
0.0
Prudential plc [2378]
49
9.35
461
0.0
Esprit Holdings Limited [330]
2,672
0.01
39
0.0
Severstal PAO Sponsored GDR RegS [SVJTY]
--
217
0.00
0
0.0
Total
--
--
--
3,526,264
100.7
Cash and Other Assets Less Liabilities
--
--
--
--
-0.7
Total Net Assets
--
--
--
--
100%

As of 3/31/2024

Economic Sector

International Fund %

MSCI EAFE (ND) Index %

Health Care

Economic sector icon
14.0
4.7

Information Technology

Economic sector icon
11.9
14.3

Financials

Economic sector icon
9.4
8.5

Industrials

Economic sector icon
7.6
7.9

Communication Services

Economic sector icon
5.3
4.1

Consumer Discretionary

Economic sector icon
2.9
11.1

Energy

Economic sector icon
2.5
2.2

Materials

Economic sector icon
2.1
-1.1

Utilities

Economic sector icon
0.0
-5.0

Real Estate

Economic sector icon
-0.4
1.5

Consumer Staples

Economic sector icon
-0.8
-3.1

As of 3/31/2024

International Fund (HIINX)

MSCI EAFE (ND) Index

-

Industrials

HIINX: 26.9%

Benchmark: 16.8%

-

Financials

HIINX: 20.4%

Benchmark: 19.3%

-

Consumer Discretionary

HIINX: 11.8%

Benchmark: 12.5%

-

Health Care

HIINX: 9.8%

Benchmark: 12.7%

-

Consumer Staples

HIINX: 7.7%

Benchmark: 8.5%

-

Materials

HIINX: 7.2%

Benchmark: 7.2%

-

Information Technology

HIINX: 6.3%

Benchmark: 9.4%

-

Communication Services

HIINX: 4.7%

Benchmark: 4.0%

-

Energy

HIINX: 4.1%

Benchmark: 4.1%

-

Real Estate

HIINX: 0.8%

Benchmark: 2.3%

-

Cash

HIINX: 0.4%

Benchmark: NaN%

-

Utilities

HIINX: 0.0%

Benchmark: 3.1%

HIINX: International Fund

Benchmark: MSCI EAFE (ND) Index

As of 3/31/2024

Country

International Fund %

MSCI EAFE (ND) Index %

United Kingdom
27.4
14.5
Japan
24.5
23.5
Denmark
8.2
3.6
France
6.1
12.2
Germany
4.7
8.7
Netherlands
4.1
5.1
Switzerland
2.9
9.4
Australia
2.8
7.1
Italy
2.5
2.8
Sweden
2.1
3.1
Other
14.7
10.0

Investment Team


Marathon London

Marathon Asset Management LLP (Marathon-London) is an independent investment management firm with a 30+ 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, Asia 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.

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.

©2024 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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