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Harbor Mid Cap Fund (HMCLX)

Harbor Mid Cap Fund (HMCLX)

Class
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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.

Valuation Discipline. Focus on fundamentals, not sentiment.

Return Pattern Recognition. Earnest consistently seeks company characteristics that they believe are hallmarks of outstanding financial performance.

Related Funds to Consider

Overview

Investment Team
Earnest Partners

Current Price

As of 5/28/2024

$14.03

Price (NAV)

-$0.12

NAV Daily Change ($)

-0.85%

NAV Daily Change (%)

2.41%

NAV YTD Return

Fund Facts

As of 4/30/2024

12/1/2019

Inception Date

0.88

Net Expense Ratio
disclaimer

0.97

Gross Expense Ratio

$71.233

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

HMCLX

Ticker

2046

Fund Number

Institutional Class

Share Class

Top Ten Holdings

As of 3/31/2024

Company Name [Ticker]

% of Net Assets

Republic Services Inc.[RSG]
3.2
Entegris Inc.[ENTG]
2.8
Masco Corporation[MAS]
2.7
D.R. Horton Inc.[DHI]
2.4
CBRE Group Inc. Class A[CBRE]
2.4
Progressive Corporation[PGR]
2.3
Reinsurance Group of America Incorporated[RGA]
2.2
Raymond James Financial Inc.[RJF]
2.1
Darden Restaurants Inc.[DRI]
2.1
Intercontinental Exchange Inc.[ICE]
2.1
% of Total Holdings:
24.3%

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 may miss.”

Paul Viera

CEO and Partner, Earnest Partners LLC

Performance

Total Returns

Month-End

3 Mo.

YTD Return

1 Yr.

3 Yr.

Since Inception

Net Expense Ratio

Gross Expense Ratio

Mid Cap Fund
2.28%
1.46%
15.08%
2.36%
9.72%
0.88%disclaimer
0.97%
Russell Midcap® Index
4.22%
2.73%
16.35%
2.41%
8.99%
--
--

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 Midcap® Index is an unmanaged index generally representative of the U.S. market for medium capitalization stocks. This unmanaged index does not reflect fees and expenses and is not available for direct investment. The Russell Midcap® 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
0.08117
0.24715
0.03717
0.00000
0.20998
0.32832
0.00000
13.62
12/16/2022
12/19/2022
12/19/2022
0.00000
0.05604
0.33994
0.10228
0.00000
0.23766
0.39598
0.00000
11.84
12/17/2021
12/20/2021
12/20/2021
0.00000
0.03814
0.26695
0.07293
0.00000
0.19402
0.30509
0.00000
14.21
12/16/2020
12/17/2020
12/17/2020
0.00000
0.02341
0.00000
0.00000
0.00000
0.00000
0.02341
0.00000
12.14
12/13/2019
12/16/2019
12/16/2019
0.00000
0.00532
0.00000
0.00000
0.00000
0.00000
0.00532
0.00000
10.27

Holdings

Portfolio Characteristics

As of 3/31/2024

58

Number of Holdings

31470.5

Wtd Avg Market Cap ($Mil)

3.58

Price/Book Ratio

23.6

Adjusted Trailing P/E Ratio

19.7

% EPS Growth - Past 3 Yr

15.47

Return on Equity (%)

19.3

Forecasted P/E Ratio

Top Ten Holdings

As of 3/31/2024

Company Name [Ticker]

% of Net Assets

Republic Services Inc.[RSG]
3.2
Entegris Inc.[ENTG]
2.8
Masco Corporation[MAS]
2.7
D.R. Horton Inc.[DHI]
2.4
CBRE Group Inc. Class A[CBRE]
2.4
Progressive Corporation[PGR]
2.3
Reinsurance Group of America Incorporated[RGA]
2.2
Raymond James Financial Inc.[RJF]
2.1
Darden Restaurants Inc.[DRI]
2.1
Intercontinental Exchange Inc.[ICE]
2.1
% of Total Holdings:
24.3%

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

Republic Services Inc. [RSG]
United States Flag
27
191.44
5,203
3.2
Entegris Inc. [ENTG]
United States Flag
32
140.54
4,563
2.8
Masco Corporation [MAS]
United States Flag
56
78.88
4,385
2.7
D.R. Horton Inc. [DHI]
United States Flag
24
164.55
4,001
2.4
CBRE Group Inc. Class A [CBRE]
United States Flag
41
97.24
3,950
2.4
Progressive Corporation [PGR]
United States Flag
19
206.82
3,837
2.3
Reinsurance Group of America Incorporated [RGA]
United States Flag
19
192.88
3,651
2.2
Raymond James Financial Inc. [RJF]
United States Flag
27
128.42
3,517
2.1
Darden Restaurants Inc. [DRI]
United States Flag
21
167.15
3,489
2.1
Intercontinental Exchange Inc. [ICE]
United States Flag
25
137.43
3,398
2.1
ANSYS Inc. [ANSS]
United States Flag
10
347.16
3,315
2.0
Akamai Technologies Inc. [AKAM]
United States Flag
30
108.76
3,282
2.0
Air Lease Corporation Class A [AL]
United States Flag
62
51.44
3,195
1.9
Keysight Technologies Inc [KEYS]
United States Flag
20
156.38
3,184
1.9
Houlihan Lokey Inc. Class A [HLI]
United States Flag
25
128.19
3,165
1.9
Dover Corporation [DOV]
United States Flag
17
177.19
3,070
1.9
Agilent Technologies Inc. [A]
United States Flag
21
145.51
3,017
1.8
Cencora Inc. [COR]
United States Flag
12
242.99
3,024
1.8
Applied Materials Inc. [AMAT]
United States Flag
14
206.23
2,905
1.8
CSX Corporation [CSX]
United States Flag
78
37.07
2,904
1.8
Snap-on Incorporated [SNA]
United States Flag
10
296.22
2,909
1.8
RenaissanceRe Holdings Ltd. [RNR]
United States Flag
12
235.03
2,901
1.8
Stifel Financial Corp [SF]
United States Flag
37
78.17
2,895
1.8
General Dynamics Corporation [GD]
United States Flag
10
282.49
2,803
1.7
Skyworks Solutions Inc. [SWKS]
United States Flag
26
108.32
2,811
1.7
Woodward Inc. [WWD]
United States Flag
18
154.12
2,749
1.7
Synopsys Inc. [SNPS]
United States Flag
5
571.50
2,709
1.7
Ulta Beauty Inc. [ULTA]
United States Flag
5
522.88
2,675
1.6
Coterra Energy Inc. [CTRA]
United States Flag
94
27.88
2,622
1.6
Bio-Rad Laboratories Inc. Class A [BIO]
United States Flag
8
345.87
2,606
1.6
Broadridge Financial Solutions Inc. [BR]
United States Flag
12
204.86
2,557
1.6
Global Payments Inc. [GPN]
United States Flag
19
133.66
2,557
1.6
Cummins Inc. [CMI]
United States Flag
9
294.65
2,542
1.6
Scotts Miracle-Gro Company Class A [SMG]
United States Flag
34
74.59
2,500
1.5
Eastman Chemical Company [EMN]
United States Flag
25
100.22
2,468
1.5
Laboratory Corporation of America Holdings [LH]
United States Flag
11
218.46
2,459
1.5
Hexcel Corporation [HXL]
United States Flag
33
72.85
2,392
1.5
Arrow Electronics Inc. [ARW]
United States Flag
18
129.46
2,389
1.5
WEC Energy Group Inc [WEC]
United States Flag
29
82.12
2,383
1.5
TJX Companies Inc [TJX]
United States Flag
23
101.42
2,373
1.4
Boston Properties Inc. [BXP]
United States Flag
36
65.31
2,334
1.4
KeyCorp [KEY]
United States Flag
148
15.81
2,341
1.4
Sysco Corporation [SYY]
United States Flag
29
81.18
2,320
1.4
GATX Corporation [GATX]
United States Flag
17
134.03
2,221
1.4
Packaging Corporation of America [PKG]
United States Flag
12
189.78
2,213
1.4
QIAGEN NV [QGEN]
United States Flag
52
42.99
2,227
1.4
SBA Communications Corp. Class A [SBAC]
United States Flag
10
216.70
2,113
1.3
Sensata Technologies Holding PLC [ST]
United States Flag
57
36.74
2,090
1.3
Americold Realty Trust Inc. [COLD]
United States Flag
79
24.92
1,967
1.2
Spirit AeroSystems Holdings Inc. Class A [SPR]
United States Flag
55
36.07
1,979
1.2
ChampionX Corporation [CHX]
United States Flag
52
35.89
1,851
1.1
DENTSPLY SIRONA Inc. [XRAY]
United States Flag
54
33.19
1,791
1.1
Sealed Air Corporation [SEE]
United States Flag
48
37.20
1,789
1.1
Helmerich & Payne Inc. [HP]
United States Flag
41
42.06
1,705
1.0
Lumentum Holdings Inc. [LITE]
United States Flag
35
47.35
1,665
1.0
Stericycle Inc. [SRCL]
United States Flag
30
52.75
1,590
1.0
Murphy Oil Corporation [MUR]
United States Flag
34
45.70
1,541
0.9
Albemarle Corporation [ALB]
United States Flag
11
131.74
1,487
0.9
Total
--
--
--
158,579
96.8
Cash and Other Assets Less Liabilities
--
--
--
--
3.2
Total Net Assets
--
--
--
--
100%

As of 3/31/2024

Mid Cap Fund (HMCLX)

Russell Midcap® Index

-

Industrials

HMCLX: 25.9%

Benchmark: 20.3%

-

Financials

HMCLX: 17.2%

Benchmark: 16.1%

-

Information Technology

HMCLX: 16.3%

Benchmark: 13.0%

-

Health Care

HMCLX: 9.2%

Benchmark: 9.9%

-

Consumer Discretionary

HMCLX: 7.6%

Benchmark: 10.7%

-

Materials

HMCLX: 6.4%

Benchmark: 5.8%

-

Real Estate

HMCLX: 6.3%

Benchmark: 7.4%

-

Energy

HMCLX: 4.7%

Benchmark: 5.0%

-

Cash

HMCLX: 3.5%

Benchmark: NaN%

-

Utilities

HMCLX: 1.5%

Benchmark: 5.1%

-

Consumer Staples

HMCLX: 1.4%

Benchmark: 3.4%

-

Communication Services

HMCLX: 0.0%

Benchmark: 3.3%

HMCLX: Mid Cap Fund

Benchmark: Russell Midcap® Index

As of 3/31/2024

Economic Sector

Mid Cap Fund %

Russell Midcap® Index %

Financials

Economic sector icon
14.7
12.5

Energy

Economic sector icon
14.1
12.1

Consumer Staples

Economic sector icon
11.7
6.9

Industrials

Economic sector icon
11.2
13.8

Materials

Economic sector icon
9.3
8.9

Health Care

Economic sector icon
7.8
5.7

Consumer Discretionary

Economic sector icon
6.4
10.0

Information Technology

Economic sector icon
4.4
5.2

Communication Services

Economic sector icon
0.0
-0.6

Utilities

Economic sector icon
-1.4
6.7

Real Estate

Economic sector icon
-6.6
-0.0

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 mid 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.

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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.