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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.

Class
Welcome
Overview
Performance
Holdings
Investment Team
Documents
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  • 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 5/28/2024

$40.67

Price (NAV)

-$0.18

NAV Daily Change ($)

-0.44%

NAV Daily Change (%)

5.44%

NAV YTD Return

Fund Facts

As of 4/30/2024

12/14/2001

Inception Date

0.88

Net Expense Ratio

0.88

Gross Expense Ratio

$1,734.36

Total Net Assets (million)
As of 4/30/2024

HASCX

Ticker

2022

Fund Number

Institutional Class

Share Class

Top Ten Holdings

As of 3/31/2024

Company Name [Ticker]

% of Net Assets

Houlihan Lokey Inc. Class A[HLI]
3.3
Parsons Corporation[PSN]
3.2
Casella Waste Systems Inc. Class A[CWST]
2.9
FormFactor Inc.[FORM]
2.7
Reinsurance Group of America Incorporated[RGA]
2.6
Franklin Electric Co. Inc.[FELE]
2.6
Integer Holdings Corporation[ITGR]
2.5
Hexcel Corporation[HXL]
2.4
Flowserve Corporation[FLS]
2.4
SPX Technologies Inc.[SPXC]
2.3
% of Total Holdings:
26.9%

Behavioral Alpha Benchmark Award

Essentia_BA_Rankings_EARNEST.jpg

EARNEST Partners
Portfolio Managers to the Harbor Small Cap Value Fund.

As of 03/31/24 out of 76 Managers.

Please see Important Information for methodology.

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
3.41%
-0.13%
11.80%
1.27%
7.50%
8.68%
9.73%
0.88%
0.88%
Russell 2000® Value Index
0.93%
-3.66%
14.03%
-0.67%
5.96%
6.45%
8.05%
--
--

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.

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 3/31/2024

58

Number of Holdings

4965.6

Wtd Avg Market Cap ($Mil)

2.74

Price/Book Ratio

24.4

Adjusted Trailing P/E Ratio

10.8

% EPS Growth - Past 3 Yr

11.06

Return on Equity (%)

18.5

Forecasted P/E Ratio

Top Ten Holdings

As of 3/31/2024

Company Name [Ticker]

% of Net Assets

Houlihan Lokey Inc. Class A[HLI]
3.3
Parsons Corporation[PSN]
3.2
Casella Waste Systems Inc. Class A[CWST]
2.9
FormFactor Inc.[FORM]
2.7
Reinsurance Group of America Incorporated[RGA]
2.6
Franklin Electric Co. Inc.[FELE]
2.6
Integer Holdings Corporation[ITGR]
2.5
Hexcel Corporation[HXL]
2.4
Flowserve Corporation[FLS]
2.4
SPX Technologies Inc.[SPXC]
2.3
% of Total Holdings:
26.9%

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

Houlihan Lokey Inc. Class A [HLI]
United States Flag
562
128.19
72,013
3.3
Parsons Corporation [PSN]
United States Flag
846
82.95
70,210
3.2
Casella Waste Systems Inc. Class A [CWST]
United States Flag
650
98.87
64,248
2.9
FormFactor Inc. [FORM]
United States Flag
1,308
45.63
59,676
2.7
Reinsurance Group of America Incorporated [RGA]
United States Flag
301
192.88
57,992
2.6
Franklin Electric Co. Inc. [FELE]
United States Flag
527
106.81
56,259
2.6
Integer Holdings Corporation [ITGR]
United States Flag
465
116.68
54,201
2.5
Hexcel Corporation [HXL]
United States Flag
721
72.85
52,546
2.4
Flowserve Corporation [FLS]
United States Flag
1,142
45.68
52,186
2.4
SPX Technologies Inc. [SPXC]
United States Flag
412
123.13
50,686
2.3
Scotts Miracle-Gro Company Class A [SMG]
United States Flag
676
74.59
50,442
2.3
FirstCash Holdings Inc. [FCFS]
United States Flag
390
127.54
49,740
2.3
Cabot Corporation [CBT]
United States Flag
530
92.20
48,901
2.2
Moog Inc. Class A [MOG.A]
United States Flag
306
159.65
48,898
2.2
SouthState Corporation [SSB]
United States Flag
552
85.03
46,964
2.1
GATX Corporation [GATX]
United States Flag
331
134.03
44,403
2.0
Meritage Homes Corporation [MTH]
United States Flag
246
175.46
43,082
2.0
Oceaneering International Inc. [OII]
United States Flag
1,730
23.40
40,481
1.8
Darling Ingredients Inc [DAR]
United States Flag
868
46.51
40,368
1.8
STAG Industrial Inc. [STAG]
United States Flag
1,042
38.44
40,049
1.8
Cheesecake Factory Incorporated [CAKE]
United States Flag
1,079
36.15
39,011
1.8
United Bankshares Inc. [UBSI]
United States Flag
1,064
35.79
38,092
1.7
Albany International Corp. Class A [AIN]
United States Flag
406
93.51
37,948
1.7
Trustmark Corporation [TRMK]
United States Flag
1,321
28.11
37,136
1.7
AAR CORP. [AIR]
United States Flag
619
59.87
37,069
1.7
EnerSys [ENS]
United States Flag
393
94.46
37,080
1.7
United Community Banks Inc. [UCBI]
United States Flag
1,404
26.32
36,961
1.7
Littelfuse Inc. [LFUS]
United States Flag
151
242.35
36,619
1.7
Expro Group Holdings N.V. [XPRO]
United States Flag
1,826
19.97
36,464
1.7
First Merchants Corporation [FRME]
United States Flag
1,028
34.90
35,880
1.6
Stifel Financial Corp [SF]
United States Flag
458
78.17
35,793
1.6
TriNet Group Inc. [TNET]
United States Flag
259
132.49
34,250
1.6
Box Inc. Class A [BOX]
United States Flag
1,191
28.32
33,741
1.5
Entegris Inc. [ENTG]
United States Flag
240
140.54
33,790
1.5
CONMED Corporation [CNMD]
United States Flag
419
80.08
33,520
1.5
Envestnet Inc. [ENV]
United States Flag
576
57.91
33,345
1.5
Diodes Incorporated [DIOD]
United States Flag
466
70.50
32,854
1.5
Advanced Energy Industries Inc. [AEIS]
United States Flag
321
101.98
32,692
1.5
Ryder System Inc. [R]
United States Flag
265
120.19
31,842
1.5
Helmerich & Payne Inc. [HP]
United States Flag
757
42.06
31,819
1.4
CTS Corporation [CTS]
United States Flag
665
46.79
31,122
1.4
Timken Company [TKR]
United States Flag
356
87.43
31,107
1.4
Enterprise Financial Services Corp [EFSC]
United States Flag
750
40.56
30,415
1.4
Amkor Technology Inc. [AMKR]
United States Flag
932
32.24
30,035
1.4
Helen of Troy Limited [HELE]
United States Flag
260
115.24
29,956
1.4
Plexus Corp. [PLXS]
United States Flag
303
94.82
28,751
1.3
Archrock Inc. [AROC]
United States Flag
1,367
19.67
26,890
1.2
Heartland Financial USA Inc. [HTLF]
United States Flag
741
35.15
26,035
1.2
Cracker Barrel Old Country Store Inc. [CBRL]
United States Flag
342
72.73
24,875
1.1
COPT Defense Properties [CDP]
United States Flag
1,009
24.17
24,392
1.1
Four Corners Property Trust Inc. [FCPT]
United States Flag
846
24.47
20,698
0.9
Core Laboratories Inc. [CLB]
United States Flag
1,144
17.08
19,539
0.9
Pediatrix Medical Group Inc. [MD]
United States Flag
1,910
10.03
19,159
0.9
Horace Mann Educators Corporation [HMN]
United States Flag
481
36.99
17,806
0.8
Pebblebrook Hotel Trust [PEB]
United States Flag
1,087
15.41
16,755
0.8
Wolverine World Wide Inc. [WWW]
United States Flag
1,281
11.21
14,363
0.7
Sabre Corporation [SABR]
United States Flag
4,558
2.42
11,030
0.5
United Fire Group Inc. [UFCS]
United States Flag
405
21.77
8,813
0.4
Total
--
--
--
2,160,994
98.3
Cash and Other Assets Less Liabilities
--
--
--
--
1.7
Total Net Assets
--
--
--
--
100%

As of 3/31/2024

Small Cap Value Fund (HASCX)

Russell 2000® Value Index

-

Industrials

HASCX: 29.4%

Benchmark: 14.8%

-

Financials

HASCX: 22.4%

Benchmark: 25.7%

-

Information Technology

HASCX: 16.0%

Benchmark: 5.9%

-

Consumer Discretionary

HASCX: 7.4%

Benchmark: 11.0%

-

Energy

HASCX: 7.0%

Benchmark: 10.1%

-

Health Care

HASCX: 4.9%

Benchmark: 9.3%

-

Real Estate

HASCX: 4.6%

Benchmark: 9.7%

-

Materials

HASCX: 4.5%

Benchmark: 5.0%

-

Cash

HASCX: 1.9%

Benchmark: NaN%

-

Consumer Staples

HASCX: 1.8%

Benchmark: 2.2%

-

Communication Services

HASCX: 0.0%

Benchmark: 2.3%

-

Utilities

HASCX: 0.0%

Benchmark: 3.8%

HASCX: Small Cap Value Fund

Benchmark: Russell 2000® Value Index

As of 3/31/2024

Economic Sector

Small Cap Value Fund %

Russell 2000® Value Index %

Materials

Economic sector icon
14.8
7.6

Energy

Economic sector icon
12.4
12.2

Industrials

Economic sector icon
9.9
8.1

Financials

Economic sector icon
4.1
-2.4

Communication Services

Economic sector icon
0.0
-5.0

Utilities

Economic sector icon
0.0
-1.3

[Unassigned]

0.0
-12.0

Information Technology

Economic sector icon
-0.1
0.7

Health Care

Economic sector icon
-2.4
8.6

Real Estate

Economic sector icon
-2.5
-1.8

Consumer Discretionary

Economic sector icon
-4.0
5.0

Consumer Staples

Economic sector icon
-6.7
-1.8

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.

Documents

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. 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.

Essentia Analytics Managers Award is conferred annually at each calendar year-end; with interim rankings computed each quarter – most currently, the quarter ended March 31, 2024.

The analysis measured the demonstrated skill of 72 active equity mutual fund portfolio managers in seven key decision types: stock picking, entry timing, sizing, scaling in, size adjusting, scaling out and exit timing. Each decision type was isolated and its impact on the portfolio was measured using decision attribution analysis techniques developed in conjunction with hundreds of portfolio managers over the past ten years.

Managers were assigned a Behavioral Alpha Score based on the hit rate (percentage of decisions that added value) and payoff ratio (the ratio of value added by the average good decision to the value destroyed by the average bad decision) for each decision type. The five managers with the highest aggregate scores across all decision types are recognized as top performers in the Q1 2024 Behavioral Alpha Benchmark ranking.

Performance data shown represents past performance and is no guarantee of future results. For complete methodology, https://www.essentia-analytics.com/behavioral-alpha-benchmark-q1-2024/

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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.