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Harbor Human Capital Factor US Large Cap ETF (HAPI)

Ribbon Description

Access the link between strong corporate culture and potential equity value.

NAV as of 9/22/2026
$46.22
NAV Daily Change
-$0.23
NAV YTD Return
12.73%
Net Expense Ratio (%)
0.35
Total Net Assets (million) as of 9/23/2026
$503.802
Benchmark
Human Capital Factor Large Cap Index

An Opportunity to Capitalize on a Market Inefficiency via an Underutilized Source of Alpha.

Harbor Capital has partnered with Irrational Capital to develop a data‑driven strategy built on the Human Capital Factor®.

What is the Human Capital Factor®? The HCF® seeks to identify and scores companies on their management of human capital based on a proprietary methodology, selecting them for inclusion in the index in an objective and systematic way.

HAPI offers exposure to larger capitalization companies with strong Human Capital Factor® scores while constraining sectors in an effort to enhance overall diversification.

Differentiated Research that Seeks to Uncover Alpha

  • Irrational Capital looks to identify companies with strong employer/employee relationships.

  • The HCF® seeks to unlock an underutilized alpha factor and uncorrelated returns.

  • Creates a systematic link between a company's HCF® score and its resulting company equity performance.

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Invests in Human Capital.

The Human Capital Factor measures intrinsic and extrinsic motivation that  establishes the relationship between employee well‑being and business fundamentals which, in turn, could impact equity performance.

public_companies_icon.png

Outcome Oriented. Socially Conscious.

The Human Capital Factor offers a socially conscious, systematic measure of business fundamentals.

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Backed by Data.

The Human Capital Factor is grounded in proprietary data that seeks to prove "doing the right thing" can pay. 

Investment Solutions Built on the Human Capital Factor®

The Human Capital Factor® (HCF®) seeks to quantify levels of motivation and engagement of a company's workforce in an effort to capture the powerful connection between human capital and stock performance. HCF® scores are applied in the construction of the following products:

Currently Viewing
|Large Cap ETF|
Tracks the Human Capital Factor Large Cap Index

Index designed to deliver exposure to equity securities of 500 largest U.S. companies

Fund includes approximately 150 stocks as determined by the HCF® within HAPI universe

Market Cap‑Weighted Positions

Sector Neutral to Index
|Small Cap ETF|
Tracks the Human Capital Factor Small Cap Index

Index designed to deliver exposure to equity securities of small cap U.S. companies

Fund includes approximately 200 stocks as determined by the HCF® within HAPS universe

Market Cap‑Weighted Positions

Sector Neutral to Index

Investment Team

Harbor Capital Advisors, Inc. dark blue logo on white background
Steve Cook
Elizabeth Despain
Jim Erceg

Learn More

As of 9/22/2026

$46.22

Price (NAV)

-$0.23

NAV Daily Change ($)

-0.50%

NAV Daily Change (%)

12.73%

NAV YTD Return

As of 9/22/2026

10/12/2022

Inception Date

0.35

Expense Ratio (%)

$503.802

Total Net Assets (million)

10,900,000

Shares Outstanding
(As of 9/23/2026)

HAPI

Ticker

41151J877

Cusip

NYSE Arca

Exchange

US41151J8779

ISIN

Foreside Fund Services, LLC

Distributor

Annually

Dividend Frequency

Large Blend

Morningstar Category

Human Capital Factor Large Cap Index

Benchmark

301,467,586

Implied Liquidity™ (Shares)

$14,004,613,700.90

Implied Liquidity

Investment Objective:

The Fund seeks to provide investment results that correspond, before fees and expenses, to the performance of the Human Capital Factor Large Cap Index.

As of 9/21/2026

$46.47

Bid/Ask Mid Price

$46.47

Closing Market Price

$0.01

Premium/Discount ($)

0.02%

Premium/Discount (%)
2025
Q1 2026
Q2 2026
Q3 2026
YTD
Days Traded at a Premium
66
35
23
37
95
Days Traded at a Discount
184
26
39
20
85

0.13%

30-Day Median Bid/Ask Spread

6,418

Exchange Volume (Shares)

USD

Trading Currency

Historical Premium Discount to NAV

No Data Available

Performance

Select an option

Loading Performance Data...

3 Mo.
YTD Return
1 Yr.
3 Yr.
Since Fund Inception
Net Expense Ratio
Gross Expense Ratio
Human Capital Factor US Large Cap ETF - at NAV
11.82%
8.24%
17.31%
20.39%
24.84%
0.35%
0.35%
Market Price
11.90%
8.16%
17.28%
20.38%
24.84%
--
--
Human Capital Factor Large Cap Total Return Index
11.91%
8.48%
17.74%
20.83%
25.26%
--
--
S&P 500 Index
15.20%
10.21%
22.32%
20.61%
23.78%
--
--

Performance data shown represents past performance and is no guarantee of future results. Short term performance, in particular, is not a good indication of the fund’s future performance, and an investment should not be made based solely on returns. 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 Human Capital Factor Large Cap Index consists of a modified market‑weighted portfolio of the equity securities of U.S. companies identified by Irrational Capital LLC (“Irrational Capital”) as those it believes to possess strong corporate culture based on its proprietary scoring methodology. Constituents eligible are chosen from Solactive GBS United States 500 Index (the “index universe”) at the time of Index reconstitution. The Solactive GBS United States 500 Index intends to track the performance of the largest 500 companies from the US stock market. The index listed is unmanaged and does not reflect fees and expenses and is not available for direct investment.

The S&P 500 Index is an unmanaged index generally representative of the U.S. market for large capitalization equities. This unmanaged index does not reflect fees and expenses and is not available for direct investment.

Select an option

Ex-Date
Record Date
Payable Date
Ordinary Income
Short Term Capital Gains
Long Term Capital Gains
Total Distribution
12/18/2025
12/18/2025
12/23/2025
0.35551
--
--
0.35551
12/19/2024
12/19/2024
12/25/2024
0.07519
--
--
0.07519
12/20/2023
12/21/2023
12/26/2023
0.28324
0.05303
0.00295
0.33922
12/20/2022
12/21/2022
12/26/2022
0.06304
0.00056
--
0.06360

Holdings

As of 8/31/2026

156

Number of Holdings

1367602.7

Wtd Avg Market Cap ($Mil)

8.52

Price/Book Ratio

27.9

Adjusted Trailing P/E Ratio

32.3

% EPS Growth - Past 3 Yr

22.29

Return on Equity (%)

22.5

Forecasted P/E Ratio

As of 9/21/2026

Company Name [Ticker]
% of Net Assets
APPLE INC[AAPL]
5.8
AMAZON.COM INC[AMZN]
5.7
MICROSOFT CORP[MSFT]
5.5
NVIDIA CORP[NVDA]
5.5
ALPHABET INC-CL A[GOOGL]
5.1
META PLATFORMS INC-CLASS A[META]
5.1
JPMORGAN CHASE & CO[JPM]
3.1
CISCO SYSTEMS INC[CSCO]
3.0
ELI LILLY & CO[LLY]
2.4
NETFLIX INC[NFLX]
2.2
% of Total Holdings:
43.4%

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 9/21/2026

Company Name [Ticker]
Category Name
Country
Cusip
Shares
Current Price ($)
Market Value ($)
% of Net Assets
APPLE INC [AAPL]
EQUITY
037833100
87,178
338.98
29,551,598.44
5.8
AMAZON.COM INC [AMZN]
EQUITY
023135106
112,166
258.45
28,989,302.70
5.7
MICROSOFT CORP [MSFT]
EQUITY
594918104
55,561
501.61
27,869,953.21
5.5
NVIDIA CORP [NVDA]
EQUITY
67066G104
121,977
227.38
27,735,130.26
5.5
ALPHABET INC-CL A [GOOGL]
EQUITY
02079K305
72,936
354.97
25,890,091.92
5.1
META PLATFORMS INC-CLASS A [META]
EQUITY
30303M102
34,887
741.245
25,859,814.32
5.1
JPMORGAN CHASE & CO [JPM]
EQUITY
46625H100
45,011
352.04
15,845,672.44
3.1
CISCO SYSTEMS INC [CSCO]
EQUITY
17275R102
138,212
111.46
15,405,109.52
3.0
ELI LILLY & CO [LLY]
EQUITY
532457108
10,291
1,164.89
11,987,882.99
2.4
NETFLIX INC [NFLX]
EQUITY
64110L106
154,521
73.36
11,335,660.56
2.2
CHEVRON CORP [CVX]
EQUITY
166764100
49,485
203.67
10,078,609.95
2.0
SALESFORCE INC [CRM]
EQUITY
79466L302
35,471
236.42
8,386,053.82
1.7
KLA CORP [KLAC]
EQUITY
482480100
44,119
183.97
8,116,572.43
1.6
MASTERCARD INC - A [MA]
EQUITY
57636Q104
13,546
567.65
7,689,386.90
1.5
MARVELL TECHNOLOGY INC [MRVL]
EQUITY
573874104
29,582
257.38
7,613,815.16
1.5
JOHNSON & JOHNSON [JNJ]
EQUITY
478160104
27,392
269.47
7,381,322.24
1.5
ARISTA NETWORKS INC [ANET]
EQUITY
040413205
35,404
205.42
7,272,689.68
1.4
COSTCO WHOLESALE CORP [COST]
EQUITY
22160K105
7,931
898.48
7,125,844.88
1.4
PROCTER & GAMBLE CO/THE [PG]
EQUITY
742718109
46,123
146.08
6,737,647.84
1.3
LAM RESEARCH CORP [LRCX]
EQUITY
512807306
21,202
302.28
6,408,940.56
1.3
BANK OF AMERICA CORP [BAC]
EQUITY
060505104
105,581
57.96
6,119,474.76
1.2
PHILIP MORRIS INTERNATIONAL [PM]
EQUITY
718172109
30,928
187.48
5,798,381.44
1.1
GENERAL ELECTRIC [GE]
EQUITY
369604301
17,479
319.01
5,575,975.79
1.1
CATERPILLAR INC [CAT]
EQUITY
149123101
6,754
816.50
5,514,641.00
1.1
ABBVIE INC [ABBV]
EQUITY
00287Y109
20,743
264.48
5,486,108.64
1.1
SERVICENOW INC [NOW]
EQUITY
81762P102
38,916
137.68
5,357,954.88
1.1
VERIZON COMMUNICATIONS INC [VZ]
EQUITY
92343V104
107,258
47.68
5,114,061.44
1.0
MORGAN STANLEY [MS]
EQUITY
617446448
21,179
206.12
4,365,415.48
0.9
AUTOMATIC DATA PROCESSING [ADP]
EQUITY
053015103
16,151
269.94
4,359,800.94
0.9
MERCK & CO. INC. [MRK]
EQUITY
58933Y105
27,660
149.50
4,135,170.00
0.8
GE VERNOVA INC [GEV]
EQUITY
36828A101
4,178
946.22
3,953,307.16
0.8
PROLOGIS INC [PLD]
EQUITY
74340W103
28,867
135.82
3,920,715.94
0.8
WALT DISNEY CO/THE [DIS]
EQUITY
254687106
37,328
104.23
3,890,697.44
0.8
FREEPORT-MCMORAN INC [FCX]
EQUITY
35671D857
51,493
72.16
3,715,734.88
0.7
INTUIT INC [INTU]
EQUITY
461202103
11,626
304.12
3,535,699.12
0.7
SCHWAB (CHARLES) CORP [SCHW]
EQUITY
808513105
30,854
106.88
3,297,675.52
0.7
BOOKING HOLDINGS INC [BKNG]
EQUITY
09857L108
18,852
168.52
3,176,939.04
0.6
SPOTIFY TECHNOLOGY SA [SPOT]
EQUITY
L8681T102
5,824
516.77
3,009,668.48
0.6
CONSTELLATION ENERGY [CEG]
EQUITY
21037T109
11,405
262.11
2,989,364.55
0.6
VALERO ENERGY CORP [VLO]
EQUITY
91913Y100
7,510
393.27
2,953,457.70
0.6
AMERICAN EXPRESS CO [AXP]
EQUITY
025816109
9,269
313.59
2,906,665.71
0.6
EMERSON ELECTRIC CO [EMR]
EQUITY
291011104
19,086
151.72
2,895,727.92
0.6
CADENCE DESIGN SYS INC [CDNS]
EQUITY
127387108
9,219
294.90
2,718,683.10
0.5
SYNOPSYS INC [SNPS]
EQUITY
871607107
6,742
401.85
2,709,272.70
0.5
HEWLETT PACKARD ENTERPRISE [HPE]
EQUITY
42824C109
42,781
61.75
2,641,726.75
0.5
S&P GLOBAL INC [SPGI]
EQUITY
78409V104
6,415
404.47
2,594,675.05
0.5
EATON CORP PLC [ETN]
EQUITY
G29183103
5,943
435.43
2,587,760.49
0.5
DEERE & CO [DE]
EQUITY
244199105
3,676
684.73
2,517,067.48
0.5
AMGEN INC [AMGN]
EQUITY
031162100
6,061
393.16
2,382,942.76
0.5
MOTOROLA SOLUTIONS INC [MSI]
EQUITY
620076307
4,967
461.36
2,291,575.12
0.5
ALTRIA GROUP INC [MO]
EQUITY
02209S103
32,167
68.53
2,204,404.51
0.4
LOCKHEED MARTIN CORP [LMT]
EQUITY
539830109
3,857
535.40
2,065,037.80
0.4
PROGRESSIVE CORP [PGR]
EQUITY
743315103
9,656
212.24
2,049,389.44
0.4
NUCOR CORP [NUE]
EQUITY
670346105
8,343
242.40
2,022,343.20
0.4
DIGITAL REALTY TRUST INC [DLR]
EQUITY
253868103
10,380
186.33
1,934,105.40
0.4
PARKER HANNIFIN CORP [PH]
EQUITY
701094104
2,018
958.17
1,933,587.06
0.4
KEYSIGHT TECHNOLOGIES IN [KEYS]
EQUITY
49338L103
5,442
342.03
1,861,327.26
0.4
PFIZER INC [PFE]
EQUITY
717081103
66,480
27.74
1,844,155.20
0.4
SEMPRA [SRE]
EQUITY
816851109
22,483
81.20
1,825,619.60
0.4
INTUITIVE SURGICAL INC [ISRG]
EQUITY
46120E602
4,513
401.65
1,812,646.45
0.4
MERCADOLIBRE INC [MELI]
EQUITY
58733R102
986
1,820.47
1,794,983.42
0.4
AUTODESK INC [ADSK]
EQUITY
052769106
7,983
218.85
1,747,079.55
0.3
BLACKSTONE INC [BX]
EQUITY
09260D107
13,059
126.41
1,650,788.19
0.3
TERADYNE INC [TER]
EQUITY
880770102
4,178
381.54
1,594,074.12
0.3
CME GROUP INC [CME]
EQUITY
12572Q105
5,560
275.53
1,531,946.80
0.3
MONDELEZ INTERNATIONAL INC-A [MDLZ]
EQUITY
609207105
25,098
60.17
1,510,146.66
0.3
MARSH & MCLENNAN COS [MRSH]
EQUITY
571748102
8,617
172.72
1,488,328.24
0.3
TRANE TECHNOLOGIES PLC [TT]
EQUITY
G8994E103
3,411
433.32
1,478,054.52
0.3
SS MATERIALS SELECT SECTOR [XLB]
EQUITY
81369Y100
29,632
49.71
1,473,006.72
0.3
QUANTA SERVICES INC [PWR]
EQUITY
74762E102
2,268
642.61
1,457,439.48
0.3
CIENA CORP [CIEN]
EQUITY
171779309
3,979
365.96
1,456,154.84
0.3
AIRBNB INC-CLASS A [ABNB]
EQUITY
009066101
8,560
166.84
1,428,150.40
0.3
ONEOK INC [OKE]
EQUITY
30609A109
15,484
91.80
1,421,431.20
0.3
MARRIOTT INTERNATIONAL -CL A [MAR]
EQUITY
571903202
4,089
342.66
1,401,136.74
0.3
COLGATE-PALMOLIVE CO [CL]
EQUITY
194162103
15,682
86.26
1,352,729.32
0.3
CSX CORP [CSX]
EQUITY
126408103
29,218
45.99
1,343,735.82
0.3
3M CO [MMM]
EQUITY
88579Y101
8,051
164.97
1,328,173.47
0.3
CONSOLIDATED EDISON INC [ED]
EQUITY
209115104
12,689
103.86
1,317,879.54
0.3
TRAVELERS COS INC/THE [TRV]
EQUITY
89417E109
3,521
371.13
1,306,748.73
0.3
HILTON WORLDWIDE HOLDINGS IN [HLT]
EQUITY
43300A203
4,250
307.08
1,305,090.00
0.3
NORTHROP GRUMMAN CORP [NOC]
EQUITY
666807102
2,392
526.66
1,259,770.72
0.2
SLB LTD [SLB]
EQUITY
806857108
24,320
51.76
1,258,803.20
0.2
MONSTER BEVERAGE CORP [MNST]
EQUITY
61174X109
28,574
44.00
1,257,256.00
0.2
ROYAL CARIBBEAN CRUISES LTD [RCL]
EQUITY
V7780T103
4,949
250.25
1,238,487.25
0.2
CUMMINS INC [CMI]
EQUITY
231021106
2,249
534.78
1,202,720.22
0.2
OCCIDENTAL PETROLEUM CORP [OXY]
EQUITY
674599105
20,330
57.25
1,163,892.50
0.2
STRYKER CORP [SYK]
EQUITY
863667101
4,235
274.19
1,161,194.65
0.2
HP INC [HPQ]
EQUITY
40434L105
32,310
32.95
1,064,614.50
0.2
EBAY INC [EBAY]
EQUITY
278642103
9,796
108.30
1,060,906.80
0.2
HONEYWELL INTERNATIONAL INC [HON]
EQUITY
438516205
5,084
206.48
1,049,744.32
0.2
FORD MOTOR CO [F]
EQUITY
345370860
79,678
13.17
1,049,359.26
0.2
WW GRAINGER INC [GWW]
EQUITY
384802104
801
1,277.79
1,023,509.79
0.2
AON PLC-CLASS A [AON]
EQUITY
G0403H108
3,429
290.82
997,221.78
0.2
BOSTON SCIENTIFIC CORP [BSX]
EQUITY
101137107
22,571
43.72
986,804.12
0.2
ST SR UTL SL SE SPDR ETF-USD [XLU]
EQUITY
81369Y886
23,948
40.66
973,725.68
0.2
CREDO TECHNOLOGY GROUP HOLDI [CRDO]
EQUITY
G25457105
5,150
187.27
964,440.50
0.2
UNITED RENTALS INC [URI]
EQUITY
911363109
936
1,029.92
964,005.12
0.2
P G & E CORP [PCG]
EQUITY
69331C108
69,990
12.94
905,670.60
0.2
REGENERON PHARMACEUTICALS [REGN]
EQUITY
75886F107
1,129
798.17
901,133.93
0.2
METLIFE INC [MET]
EQUITY
59156R108
9,221
96.64
891,117.44
0.2
CORTEVA INC [CTVA]
EQUITY
22052L104
11,195
79.11
885,636.45
0.2
REDDIT INC-CL A [RDDT]
EQUITY
75734B100
5,562
158.73
882,856.26
0.2
DELTA AIR LINES INC [DAL]
EQUITY
247361702
10,566
82.50
871,695.00
0.2
NIKE INC -CL B [NKE]
EQUITY
654106103
23,869
36.10
861,670.90
0.2
HONEYWELL AEROSPACE INC [HONA]
EQUITY
43849R105
5,084
169.03
859,348.52
0.2
NASDAQ INC [NDAQ]
EQUITY
631103108
8,483
94.69
803,255.27
0.2
EXPEDIA GROUP INC [EXPE]
EQUITY
30212P303
2,846
281.02
799,782.92
0.2
MSCI INC [MSCI]
EQUITY
55354G100
1,408
558.97
787,029.76
0.2
IQVIA HOLDINGS INC [IQV]
EQUITY
46266C105
2,837
269.88
765,649.56
0.2
PRUDENTIAL FINANCIAL INC [PRU]
EQUITY
744320102
6,065
118.53
718,884.45
0.1
EDISON INTERNATIONAL [EIX]
EQUITY
281020107
12,597
54.95
692,205.15
0.1
VIVMARK RESIDENTIAL [VMRK]
EQUITY
29476L107
11,151
61.36
684,225.36
0.1
DR HORTON INC [DHI]
EQUITY
23331A109
4,858
139.25
676,476.50
0.1
EDWARDS LIFESCIENCES CORP [EW]
EQUITY
28176E108
7,548
88.34
666,790.32
0.1
NATERA INC [NTRA]
EQUITY
632307104
1,780
370.64
659,739.20
0.1
AXON ENTERPRISE INC [AXON]
EQUITY
05464C101
1,413
452.06
638,760.78
0.1
KIMBERLY-CLARK CORP [KMB]
EQUITY
494368103
6,282
97.74
614,002.68
0.1
JACOBS SOLUTIONS INC [J]
EQUITY
46982L108
4,136
143.76
594,591.36
0.1
DUPONT DE NEMOURS INC [DD]
EQUITY
26614N201
4,574
129.79
593,659.46
0.1
PINTEREST INC- CLASS A [PINS]
EQUITY
72352L106
29,415
19.36
569,474.40
0.1
HARTFORD INSURANCE GROUP INC [HIG]
EQUITY
416515104
4,349
130.73
568,544.77
0.1
ARCH CAPITAL GROUP LTD [ACGL]
EQUITY
G0450A105
5,669
95.78
542,976.82
0.1
INVITATION HOMES INC [INVH]
EQUITY
46187W107
18,822
27.08
509,699.76
0.1
DOLLAR GENERAL CORP [DG]
EQUITY
256677105
3,957
121.91
482,397.87
0.1
TRIMBLE INC [TRMB]
EQUITY
896239100
8,290
57.75
478,747.50
0.1
SYNCHRONY FINANCIAL [SYF]
EQUITY
87165B103
6,136
75.00
460,200.00
0.1
CBOE GLOBAL MARKETS INC [CBOE]
EQUITY
12503M108
1,631
271.43
442,702.33
0.1
PRINCIPAL FINANCIAL GROUP [PFG]
EQUITY
74251V102
3,787
116.47
441,071.89
0.1
PULTEGROUP INC [PHM]
EQUITY
745867101
3,564
118.97
424,009.08
0.1
ALNYLAM PHARMACEUTICALS INC [ALNY]
EQUITY
02043Q107
1,712
244.32
418,275.84
0.1
CINCINNATI FINANCIAL CORP [CINF]
EQUITY
172062101
2,465
166.85
411,285.25
0.1
RESMED INC [RMD]
EQUITY
761152107
1,798
223.61
402,050.78
0.1
ZOETIS INC [ZTS]
EQUITY
98978V103
5,325
71.33
379,832.25
0.1
SOFI TECHNOLOGIES INC [SOFI]
EQUITY
83406F102
22,327
16.97
378,889.19
0.1
GENERAL MILLS INC [GIS]
EQUITY
370334104
10,584
35.41
374,779.44
0.1
MARKEL GROUP INC [MKL]
EQUITY
570535104
201
1,774.64
356,702.64
0.1
GE HEALTHCARE TECHNOLOGY [GEHC]
EQUITY
36266G107
5,471
64.81
354,575.51
0.1
EQUIFAX INC [EFX]
EQUITY
294429105
2,083
158.62
330,405.46
0.1
BROWN & BROWN INC [BRO]
EQUITY
115236101
4,895
64.30
314,748.50
0.1
HEICO CORP-CLASS A [HEI/A]
EQUITY
422806208
1,298
226.67
294,217.66
0.1
LOEWS CORP [L]
EQUITY
540424108
2,696
106.75
287,798.00
0.1
TEXAS PACIFIC LAND CORP [TPL]
EQUITY
88262P102
739
366.80
271,065.20
0.1
STERIS PLC [STE]
EQUITY
G8473T100
1,267
206.97
262,230.99
0.1
DRAFTKINGS INC-CL A [DKNG]
EQUITY
26142V105
11,746
21.97
258,059.62
0.1
TRADE DESK INC/THE -CLASS A [TTD]
EQUITY
88339J105
17,806
13.88
247,147.28
0.0
INCYTE CORP [INCY]
EQUITY
45337C102
1,977
124.65
246,433.05
0.0
LULULEMON ATHLETICA INC [LULU]
EQUITY
550021109
2,126
101.30
215,363.80
0.0
TRADEWEB MARKETS INC-CLASS A [TW]
EQUITY
892672106
1,719
104.45
179,549.55
0.0
LENNOX INTERNATIONAL INC [LII]
EQUITY
526107107
462
363.64
168,001.68
0.0
APTIV PLC [APTV]
EQUITY
G3265R107
3,275
43.57
142,691.75
0.0
INSULET CORP [PODD]
EQUITY
45784P101
897
140.53
126,055.41
0.0
MOBILITY GLOBAL INC [MBGL]
EQUITY
60744M106
6,415
19.20
123,168.00
0.0
BUILDERS FIRSTSOURCE INC [BLDR]
EQUITY
12008R107
2,095
58.52
122,599.40
0.0
RYAN SPECIALTY HOLDINGS INC [RYAN]
EQUITY
78351F107
2,141
40.06
85,768.46
0.0
AMER SPORTS INC [AS]
EQUITY
G0260P102
2,746
27.45
75,377.70
0.0
VERSIGENT PLC [VGNT]
EQUITY
G9600F104
1,091
47.07
51,353.37
0.0
Total
--
--
--
--
--
505,966,023.26
100.4
Cash and Other Assets Less Liabilities
--
--
--
--
--
--
-0.4
Total Net Assets
--
--
--
--
--
--
100.0

As of 8/31/2026

Sector Breakdown

Information Technology

HAPI

32.6%

Benchmark

32.6%

Communication Services

HAPI

14.2%

Benchmark

14.2%

Financials

HAPI

12.2%

Benchmark

12.2%

Industrials

HAPI

9.5%

Benchmark

9.5%

Consumer Discretionary

HAPI

9.2%

Benchmark

9.2%

Health Care

HAPI

8.4%

Benchmark

8.4%

Consumer Staples

HAPI

5.6%

Benchmark

5.6%

Energy

HAPI

3.4%

Benchmark

3.4%

Utilities

HAPI

1.8%

Benchmark

1.8%

Real Estate

HAPI

1.4%

Benchmark

1.4%

Materials

HAPI

1.4%

Benchmark

1.4%

Non-Energy Materials

HAPI

0.3%

Benchmark

0.3%

Cash

HAPI

<0.1%

Benchmark

0.0%

HAPI: Human Capital Factor US Large Cap ETF

Benchmark: Human Capital Factor Large Cap Total Return Index

Investment Team

Harbor Capital Advisors, Inc. dark blue logo on white background

The Fund employs an indexing investment approach designed to track the performance of the Human Capital Factor Large Cap Index (“The Index”). The Fund invests at least 80% of its total assets in securities that are included in the Index.

The Index consists of a modified market capitalization‑weighted portfolio of equity securities of approximately 150 U.S. companies identified by Irrational Capital LLC (“Irrational Capital”) as those it believes to possess strong corporate culture based on its proprietary scoring methodology. The Index was developed by the Canadian Imperial Bank of Commerce (CIBC, the “Index Provider”).

Harbor Capital serves as the investment adviser.

Steve Cook

Steve Cook

Chief Operating Officer

Elizabeth Despain

Elizabeth Despain

Associate Index Portfolio Manager

Jim Erceg

Jim Erceg

Head of Product

Important Information

Investing involves risk, principal loss is possible. Unlike mutual funds, ETFs may trade at a premium or discount to their net asset value.

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. The Fund may not exactly track the performance of the Index with perfect accuracy at all times. Tracking error may occur because of pricing differences, timing and costs incurred by the fund or during times of heightened market volatility. The Fund relies on the Index provider's methodology in assessing whether a company may be considered a corporate culture leader. There is no guarantee that the construction methodology will accurately assess a company to include or exclude it from the index which could have an adverse effect on the Fund's returns. The Fund's assets may be concentrated in a particular sector or industries to the extent the Index is concentrated and is subject to the risk that economic, political, or other market conditions that have a negative effect on that sector or industry will negatively impact the value of the Fund.

Companies in the information technology sector can be significantly affected by short product cycles, obsolescence of existing technology, impairment or loss of intellectual property rights, falling prices and profits, competition from new market entrants, government regulation and other factors.

Shares are bought and sold at market price not net asset value (NAV). Market price returns are based upon the closing composite market price and do not represent the returns you would receive if you traded shares at other times.

CIBC is a third‑party index provider to the Harbor Human Capital Factors US Large Cap ETF

Bid/Ask Mid Price: the midpoint between the highest bid and the lowest offer, as of the time that the Fund’s NAV is calculated, typically 4 p.m. Eastern Time.

Premium/Discount ($): the difference between the Fund’s market price and NAV, expressed as a percentage of NAV. A premium is the amount that the Fund is trading above the reported NAV. A discount is the amount that the Fund is trading below the reported NAV.

30‑Day Median Bid/Ask Spread: calculated by identifying national best bid and national best offer ("NBBO") for each fund as of the end of each 10 second interval during each trading day of the last 30 calendar days and dividing the difference between each such bid and offer by the midpoint of the NBBO. The median of those values is identified and that value is expressed as a percentage (rounded to the nearest hundredth).

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.

Alpha is the risk‑adjusted excess return of an investment relative to the return of a benchmark index.