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Harbor Small Cap Value Fund (HASCX)

Please note that the Fund is now closed to new investors effective June 1, 2021. Please refer to the Fund's prospectus for additional information.

Harbor Small Cap Value Fund (HASCX)

Please note that the Fund is now closed to new investors effective June 1, 2021. Please refer to the Fund's prospectus for additional information.

Welcome
Overview
Performance
Holdings
Investment Team
Documents
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Class
  • Deep Industry Knowledge. Research-oriented process executed by a diverse team of experienced investors with specialized subject matter expertise.
  • Return Pattern Recognition. Earnest consistently seeks company characteristics that they believe are hallmarks of outstanding financial performance.
    • Valuation Discipline. The team seeks fiscally sound businesses with appealing prospects that are trading at compelling valuations.

Related Funds to Consider

Overview

Investment Team
Earnest Partners

Current Price

As of 2/29/2024

$38.54

Price (NAV)

$0.34

NAV Daily Change ($)

0.89%

NAV Daily Change (%)

-0.08%

NAV YTD Return

Fund Facts

As of 2/29/2024

12/14/2001

Inception Date

0.88

Net Expense Ratio

0.88

Gross Expense Ratio

$1,462.22

Total Net Assets (million)
As of 2/29/2024

HASCX

Ticker

2022

Fund Number

Institutional Class

Share Class

Top Ten Holdings

As of 12/31/2023

Company Name [Ticker]

% of Net Assets

Houlihan Lokey Inc. Class A[HLI]
3.6
Parsons Corporation[PSN]
2.9
Franklin Electric Co. Inc.[FELE]
2.8
Casella Waste Systems Inc. Class A[CWST]
2.7
FormFactor Inc.[FORM]
2.6
Hexcel Corporation[HXL]
2.6
Reinsurance Group of America Incorporated[RGA]
2.4
SPX Technologies Inc.[SPXC]
2.3
Flowserve Corporation[FLS]
2.3
SouthState Corporation[SSB]
2.3
% of Total Holdings:
26.5%

Morningstar Medalist Rating™

Morningstar Silver
Analyst-Driven %
100
Data Coverage %
100
As of 7/11/2023

“Better judgement borne of deep hands on experience in a variety of industries allows us to see what others miss.”

Paul Viera

CEO and Partner, Earnest Partners LLC

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

Small Cap Value Fund
9.37%
-0.08%
3.96%
3.30%
8.35%
8.51%
9.81%
0.88%
0.88%
Russell 2000® Value Index
--
--
--
--
--
--
--
--
--

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 2000® Value Index is an unmanaged index representing the smallest 2000 stocks with the lowest price-to-book ratio and future earnings. This unmanaged index does not reflect fees and expenses and is not available for direct investment. The Russell 2000® 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

12/18/2023
12/19/2023
12/19/2023
0.00000
0.26565
2.42899
0.11526
0.00000
2.31373
2.69464
0.00000
38.75
12/16/2022
12/19/2022
12/19/2022
0.00000
0.12022
2.47978
0.03839
0.00000
2.44139
2.60000
0.00000
35.13
12/17/2021
12/20/2021
12/20/2021
0.00000
0.04232
2.36015
--
0.00000
2.36015
2.40247
0.00000
39.90
12/16/2020
12/17/2020
12/17/2020
0.00000
0.17061
0.00000
0.00000
0.00000
0.00000
0.17061
0.00000
39.22
12/13/2019
12/16/2019
12/16/2019
0.00000
0.17500
0.31673
0.00000
0.00000
0.31673
0.49173
0.00000
34.63
12/14/2018
12/17/2018
12/17/2018
0.00000
0.12283
2.94909
0.11826
0.00000
2.83083
3.07192
0.00000
27.81
12/15/2017
12/18/2017
12/18/2017
0.00000
0.03062
0.68749
0.00000
0.00000
0.68749
0.71811
0.00000
36.37
12/16/2016
12/19/2016
12/19/2016
0.00000
0.11050
0.00000
0.00000
0.00000
0.00000
0.11050
0.00000
30.72
12/16/2015
12/17/2015
12/17/2015
0.00000
0.09352
0.89173
0.10478
0.00000
0.78695
0.98525
0.00000
24.80
12/17/2014
12/18/2014
12/18/2014
0.00000
0.05903
0.91139
0.03354
0.00000
0.87785
0.97042
0.00000
26.39
12/16/2013
12/17/2013
12/17/2013
0.00000
0.04851
4.41125
0.37563
0.00000
4.03562
4.45976
0.00000
24.70
12/14/2012
12/17/2012
12/17/2012
0.00000
0.21642
0.26841
0.00000
0.00000
0.26841
0.48483
0.00000
21.99
12/15/2011
12/16/2011
12/16/2011
0.00000
0.05366
0.00000
0.00000
0.00000
0.00000
0.05366
0.00000
19.12
12/16/2010
12/17/2010
12/17/2010
0.00000
0.07563
0.00000
0.00000
0.00000
0.00000
0.07563
0.00000
19.47
12/17/2009
12/18/2009
12/18/2009
0.00000
0.07112
0.00000
0.00000
0.00000
0.00000
0.07112
0.00000
15.93
12/18/2008
12/19/2008
12/19/2008
0.00000
0.05479
0.03603
0.00000
0.00000
0.03603
0.09082
0.00000
12.80
12/18/2007
12/19/2007
12/19/2007
0.00000
0.09535
1.11030
0.00000
0.00000
1.11030
1.20565
0.00000
19.47
12/18/2006
12/19/2006
12/19/2006
0.00000
0.01961
0.48505
0.00000
0.00000
0.48505
0.50466
0.00000
21.49
12/19/2005
12/20/2005
12/20/2005
0.00000
0.02027
0.30693
0.03399
0.00000
0.27294
0.32720
0.00000
19.81
12/29/2004
12/30/2004
12/30/2004
0.00000
0.00000
0.09415
0.00000
0.00000
0.09415
0.09415
0.00000
18.26
12/29/2003
12/30/2003
12/30/2003
0.00000
0.00000
0.00000
0.00000
0.00000
0.00000
0.00000
0.00000
15.01
12/27/2002
12/30/2002
12/30/2002
0.00000
0.00000
0.00000
0.00000
0.00000
0.00000
0.00000
0.00000
10.14
12/26/2001
12/27/2001
12/28/2001
0.00000
0.00000
0.00000
0.00000
0.00000
0.00000
0.00000
0.00000
10.76

Holdings

Portfolio Characteristics

As of 12/31/2023

60

Number of Holdings

4555.1

Wtd Avg Market Cap ($Mil)

2.55

Price/Book Ratio

21.7

Adjusted Trailing P/E Ratio

8.2

% EPS Growth - Past 3 Yr

11.03

Return on Equity (%)

20

Forecasted P/E Ratio

Top Ten Holdings

As of 12/31/2023

Company Name [Ticker]

% of Net Assets

Houlihan Lokey Inc. Class A[HLI]
3.6
Parsons Corporation[PSN]
2.9
Franklin Electric Co. Inc.[FELE]
2.8
Casella Waste Systems Inc. Class A[CWST]
2.7
FormFactor Inc.[FORM]
2.6
Hexcel Corporation[HXL]
2.6
Reinsurance Group of America Incorporated[RGA]
2.4
SPX Technologies Inc.[SPXC]
2.3
Flowserve Corporation[FLS]
2.3
SouthState Corporation[SSB]
2.3
% of Total Holdings:
26.5%

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 12/31/2023

Company Name [Ticker]

Country

Shares (000's)

Current Price ($)

Market Value ($000's)

% of Net Assets

Houlihan Lokey Inc. Class A [HLI]
629
119.91
75,387
3.6
Parsons Corporation [PSN]
970
62.71
60,804
2.9
Franklin Electric Co. Inc. [FELE]
600
96.65
57,972
2.8
Casella Waste Systems Inc. Class A [CWST]
657
85.46
56,108
2.7
FormFactor Inc. [FORM]
1,321
41.71
55,113
2.6
Hexcel Corporation [HXL]
729
73.75
53,745
2.6
Reinsurance Group of America Incorporated [RGA]
304
161.78
49,145
2.4
SPX Technologies Inc. [SPXC]
475
101.01
47,980
2.3
Flowserve Corporation [FLS]
1,154
41.22
47,578
2.3
SouthState Corporation [SSB]
558
84.45
47,126
2.3
AAR CORP. [AIR]
747
62.40
46,600
2.2
Integer Holdings Corporation [ITGR]
469
99.08
46,501
2.2
CONMED Corporation [CNMD]
423
109.51
46,313
2.2
Cabot Corporation [CBT]
536
83.50
44,744
2.1
Moog Inc. Class A [MOG.A]
309
144.78
44,802
2.1
Meritage Homes Corporation [MTH]
248
174.20
43,214
2.1
FirstCash Holdings Inc. [FCFS]
394
108.39
42,709
2.0
United Community Banks Inc. [UCBI]
1,419
29.26
41,514
2.0
STAG Industrial Inc. [STAG]
1,053
39.26
41,326
2.0
Littelfuse Inc. [LFUS]
153
267.56
40,846
2.0
United Bankshares Inc. [UBSI]
1,075
37.55
40,379
1.9
Albany International Corp. Class A [AIN]
410
98.22
40,272
1.9
GATX Corporation [GATX]
335
120.22
40,240
1.9
EnerSys [ENS]
397
100.96
40,042
1.9
First Merchants Corporation [FRME]
1,043
37.08
38,683
1.9
Cheesecake Factory Incorporated [CAKE]
1,090
35.01
38,171
1.8
Darling Ingredients Inc [DAR]
759
49.84
37,837
1.8
Trustmark Corporation [TRMK]
1,335
27.88
37,213
1.8
Oceaneering International Inc. [OII]
1,748
21.28
37,194
1.8
Scotts Miracle-Gro Company Class A [SMG]
561
63.75
35,772
1.7
Advanced Energy Industries Inc. [AEIS]
324
108.92
35,278
1.7
Enterprise Financial Services Corp [EFSC]
762
44.65
34,033
1.6
Plexus Corp. [PLXS]
306
108.13
33,126
1.6
Stifel Financial Corp [SF]
463
69.15
31,990
1.5
Amkor Technology Inc. [AMKR]
941
33.27
31,315
1.5
Box Inc. Class A [BOX]
1,204
25.61
30,828
1.5
Ryder System Inc. [R]
268
115.06
30,798
1.5
Diodes Incorporated [DIOD]
373
80.52
30,025
1.4
CTS Corporation [CTS]
672
43.74
29,394
1.4
Entegris Inc. [ENTG]
243
119.82
29,106
1.4
Envestnet Inc. [ENV]
582
49.52
28,809
1.4
Timken Company [TKR]
359
80.15
28,812
1.4
Heartland Financial USA Inc. [HTLF]
748
37.61
28,145
1.3
Helen of Troy Limited [HELE]
232
120.81
28,038
1.3
Helmerich & Payne Inc. [HP]
764
36.22
27,684
1.3
Cracker Barrel Old Country Store Inc. [CBRL]
346
77.08
26,635
1.3
COPT Defense Properties [CDP]
1,020
25.63
26,133
1.3
TriNet Group Inc. [TNET]
201
118.93
23,860
1.1
Archrock Inc. [AROC]
1,381
15.40
21,270
1.0
Core Laboratories Inc. [CLB]
1,156
17.66
20,411
1.0
Sabre Corporation [SABR]
4,605
4.40
20,262
1.0
Four Corners Property Trust Inc. [FCPT]
725
25.30
18,343
0.9
Pediatrix Medical Group Inc. [MD]
1,930
9.30
17,948
0.9
Pebblebrook Hotel Trust [PEB]
1,099
15.98
17,555
0.8
Horace Mann Educators Corporation [HMN]
486
32.70
15,904
0.8
Methode Electronics Inc. [MEI]
610
22.73
13,868
0.7
Wolverine World Wide Inc. [WWW]
1,295
8.89
11,508
0.5
United Fire Group Inc. [UFCS]
409
20.12
8,229
0.4
DMC Global Inc. [BOOM]
410
18.82
7,717
0.4
Total
--
--
--
2,082,353
99.7
Cash and Other Assets Less Liabilities
--
--
--
--
0.3
Total Net Assets
--
--
--
--
100%

As of 12/31/2023

Small Cap Value Fund (HASCX)

Russell 2000® Value Index

-

Industrials

HASCX: 29.6%

Benchmark: 14.1%

-

Financials

HASCX: 23.4%

Benchmark: 27.1%

-

Information Technology

HASCX: 17.1%

Benchmark: 5.9%

-

Consumer Discretionary

HASCX: 8.0%

Benchmark: 10.9%

-

Energy

HASCX: 5.5%

Benchmark: 9.2%

-

Health Care

HASCX: 5.3%

Benchmark: 8.8%

-

Real Estate

HASCX: 4.9%

Benchmark: 10.5%

-

Materials

HASCX: 3.9%

Benchmark: 4.8%

-

Consumer Staples

HASCX: 1.8%

Benchmark: 2.3%

-

Communication Services

HASCX: 0.0%

Benchmark: 2.4%

-

Utilities

HASCX: 0.0%

Benchmark: 3.9%

HASCX: Small Cap Value Fund

Benchmark: Russell 2000® Value Index

As of 12/31/2023

Economic Sector

Small Cap Value Fund %

Russell 2000® Value Index %

Materials

Economic sector icon
22.8
13.5

Financials

Economic sector icon
19.2
23.8

Consumer Discretionary

Economic sector icon
16.7
20.5

Information Technology

Economic sector icon
13.3
14.0

Real Estate

Economic sector icon
12.5
16.2

Industrials

Economic sector icon
12.0
15.0

Health Care

Economic sector icon
6.6
18.3

Utilities

Economic sector icon
0.0
7.6

Communication Services

Economic sector icon
0.0
5.9

Consumer Staples

Economic sector icon
-4.5
11.8

Energy

Economic sector icon
-13.3
-5.2

Investment Team


Earnest Partners

EARNEST Partners LLC manages assets for clients around the world, including corporate pension plans, state and municipal pension plans, jointly-trusteed plans, foundations and endowments. They also manage portfolios for high net worth individuals through the platforms of some of the largest broker dealers in the world. EARNEST Partners is a fundamental, bottom-up investor; their investment decisions focus on the merits of individual securities. 

The firm believes the best investment decisions are thoughtfully distilled from a pool of expertise, and they are pleased to offer their clients a team with the experience and the network to assess the relevant geopolitical issues, demographic trends and cultural considerations impacting their investments. They believe that identifying the most attractive investment opportunities takes a global focus.

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. Stocks of small cap companies pose special risks, including possible illiquidity and greater price volatility than stocks of larger, more established companies.

Weighted Average Market Capitalization: The average size of the companies in a portfolio or index as measured by the market value of outstanding shares.

Price/Book: The price-to-book (P/B) ratio evaluates a firm's market value relative to its book value.

Adjusted Trailing P/E Ratio: The Adjusted Trailing P/E (Price/Earnings) Ratio is the closing stock price divided by the sum of the last 12 months actual EPS.

% EPS Growth – Past 3 year: Earnings per share refers to the bottom-line measure of a company’s profitability defined as net income divided by the number of outstanding shares.

Return on Equity: Return on equity (ROE) is a measure of financial performance calculated by dividing net income by shareholders' equity.

Forecasted P/E Ratio: a measure of the P/E (price-to-earnings) ratio using forecasted earnings for the P/E calculation.

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.

3397680

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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 © 2024 Harbor Capital Advisors, Inc. All rights reserved.