Harbor Human Capital Factor US Large Cap ETF (HAPI)

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

Harbor Human Capital Factor US Large Cap ETF (HAPI)

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

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Holdings
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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.

BE HAPI

assets0
assets0M+

assets0M+

The above figures represent Irrational Capital’s full data set. A subset of this data is used in constructing HAPI. Source: Irrational Capital. As of 3/31/2023.

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.

employees_icon.png
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 CIBC Human Capital 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
|Unconstrained ETF|
Tracks the Human Capital Factor Unconstrained Index

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

Fund includes top 70-100 stocks as determined by the HCF®

Equal-Weighted

No Sector Limits

Overview

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

Current Price

As of 1/27/2025

$36.60

Price (NAV)

-$0.53

NAV Daily Change ($)

-1.43%

NAV Daily Change (%)

2.90%

NAV YTD Return

$36.60

Market Price

-$0.53

Market Daily Change ($)

-1.43%

Market Daily Change (%)

2.78%

Market YTD Return

Fund Facts

As of 1/27/2025

10/12/2022

Inception Date

0.35

Expense Ratio (%)
disclaimer

$385.24

Total Net Assets (million)

10,525,000

Shares Outstanding
(As of 1/28/2025)

HAPI

Ticker

41151J604

Cusip

NYSE

Exchange

US41151J8779

ISIN

Foreside Fund Services, LLC

Distributor
disclaimer

Annually

Dividend Frequency

Large Blend

Morningstar Category

CIBC Human Capital Index

Benchmark

197,092,036

Implied Liquidity™ (Shares)
disclaimer

$7,214,035,625.73

Implied Liquidity
disclaimer

Investment Objective:

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

Morningstar Medalist Rating™

Morningstar Bronze
Analyst-Driven %
10
Data Coverage %
85
As of 10/31/2024

Pricing/Trading

As of 1/27/2025

$36.64

Bid/Ask Mid Price

$36.60

Closing Market Price

$0.03

Premium/Discount ($)

0.09%

Premium/Discount (%)

 

2024

Q1 2025

YTD

Days Traded at a Premium1911515
Days Traded at a Discount6011

0.16%

30-Day Median Bid/Ask Spread

1,990

Exchange Volume (Shares)

USD

Trading Currency

Historical Premium Discount to NAV

No Data Available

Performance

Total Returns

Quarter-End

3 Mo.

YTD Return

1 Yr.

Since Fund Inception

Net Expense Ratio

Gross Expense Ratio

Human Capital Factor US Large Cap ETF - at NAV
2.72%
27.48%
27.48%
30.71%
0.35%disclaimer
0.35%
Market Price
2.84%
27.63%
27.63%
30.77%
--
--
CIBC Human Capital Index
2.80%
27.91%
27.91%
31.12%
--
--
S&P 500 Index
2.41%
25.02%
25.02%
27.03%
--
--

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 CIBC Human Capital 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.

Chart

Ex-Date

Record Date

Payable Date

Ordinary Income

Short Term Capital Gains

Long Term Capital Gains

Total Distribution

12/20/2024
12/20/2024
12/26/2024
0.07519
--
--
0.07519
12/21/2023
12/22/2023
12/27/2023
0.28324
0.05303
0.00295
0.33922
12/21/2022
12/22/2022
12/27/2022
0.06304
0.00056
--
0.06360

Holdings

Portfolio Characteristics

As of 12/31/2024

152

Number of Holdings

1085060.3

Wtd Avg Market Cap ($Mil)

8.9

Price/Book Ratio

33.4

Adjusted Trailing P/E Ratio

25.1

% EPS Growth - Past 3 Yr

27.36

Return on Equity (%)

27.3

Forecasted P/E Ratio

Top Ten Holdings

As of 1/27/2025

Company Name [Ticker]

% of Net Assets

NVIDIA CORP[NVDA]
6.6
AMAZON.COM INC[AMZN]
5.7
APPLE INC[AAPL]
5.2
MICROSOFT CORP[MSFT]
4.4
JPMORGAN CHASE & CO[JPM]
4.2
META PLATFORMS INC-CLASS A[META]
3.7
ALPHABET INC-CL A[GOOGL]
3.4
ELI LILLY & CO[LLY]
3.1
ALPHABET INC-CL C[GOOG]
3.0
MASTERCARD INC - A[MA]
2.6
% of Total Holdings:
41.9%

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 1/27/2025

Company Name [Ticker]

Category Name

Country

Cusip

Shares

Current Price ($)

Market Value ($)

% of Net Assets

NVIDIA CORP [NVDA]
EQUITY
67066G104
215,633
118.42
25,535,259.86
6.6
AMAZON.COM INC [AMZN]
EQUITY
023135106
93,196
235.42
21,940,202.32
5.7
APPLE INC [AAPL]
EQUITY
037833100
86,528
229.86
19,889,326.08
5.2
MICROSOFT CORP [MSFT]
EQUITY
594918104
38,910
434.56
16,908,729.60
4.4
JPMORGAN CHASE & CO [JPM]
EQUITY
46625H100
61,196
265.85
16,268,956.60
4.2
META PLATFORMS INC-CLASS A [META]
EQUITY
30303M102
21,833
659.88
14,407,160.04
3.7
ALPHABET INC-CL A [GOOGL]
EQUITY
02079K305
68,595
191.81
13,157,206.95
3.4
ELI LILLY & CO [LLY]
EQUITY
532457108
14,912
808.17
12,051,431.04
3.1
ALPHABET INC-CL C [GOOG]
EQUITY
02079K107
59,807
193.77
11,588,802.39
3.0
MASTERCARD INC - A [MA]
EQUITY
57636Q104
18,340
547.64
10,043,717.60
2.6
JOHNSON & JOHNSON [JNJ]
EQUITY
478160104
50,847
152.89
7,773,997.83
2.0
CHEVRON CORP [CVX]
EQUITY
166764100
48,333
157.23
7,599,397.59
2.0
BANK OF AMERICA CORP [BAC]
EQUITY
060505104
151,557
47.09
7,136,819.13
1.9
COMM SERV SELECT SECTOR SPDR [XLC]
EQUITY
81369Y852
62,134
100.93
6,271,184.62
1.6
PROCTER & GAMBLE CO/THE [PG]
EQUITY
742718109
34,295
169.66
5,818,489.70
1.5
BOOKING HOLDINGS INC [BKNG]
EQUITY
09857L108
1,144
4,675.36
5,348,611.84
1.4
NETFLIX INC [NFLX]
EQUITY
64110L106
5,080
971.89
4,937,201.20
1.3
BOSTON SCIENTIFIC CORP [BSX]
EQUITY
101137107
47,935
102.27
4,902,312.45
1.3
CATERPILLAR INC [CAT]
EQUITY
149123101
11,051
394.98
4,364,923.98
1.1
GENERAL ELECTRIC [GE]
EQUITY
369604301
22,143
194.46
4,305,927.78
1.1
INTUITIVE SURGICAL INC [ISRG]
EQUITY
46120E602
7,142
573.48
4,095,794.16
1.1
MORGAN STANLEY [MS]
EQUITY
617446448
28,536
136.65
3,899,444.40
1.0
SALESFORCE INC [CRM]
EQUITY
79466L302
10,994
347.10
3,816,017.40
1.0
AMERICAN EXPRESS CO [AXP]
EQUITY
025816109
11,983
316.42
3,791,660.86
1.0
COCA-COLA CO/THE [KO]
EQUITY
191216100
56,315
63.87
3,596,839.05
0.9
HONEYWELL INTERNATIONAL INC [HON]
EQUITY
438516106
15,638
225.71
3,529,652.98
0.9
AMGEN INC [AMGN]
EQUITY
031162100
11,936
282.95
3,377,291.20
0.9
BLACKROCK INC [BLK]
EQUITY
09290D101
3,108
1,029.94
3,201,053.52
0.8
PFIZER INC [PFE]
EQUITY
717081103
116,715
26.86
3,134,964.90
0.8
PEPSICO INC [PEP]
EQUITY
713448108
19,973
154.61
3,088,025.53
0.8
DEERE & CO [DE]
EQUITY
244199105
6,244
484.15
3,023,032.60
0.8
LOCKHEED MARTIN CORP [LMT]
EQUITY
539830109
5,886
503.69
2,964,719.34
0.8
APPLIED MATERIALS INC [AMAT]
EQUITY
038222105
16,746
174.57
2,923,349.22
0.8
CISCO SYSTEMS INC [CSCO]
EQUITY
17275R102
48,912
59.08
2,889,720.96
0.8
MERCADOLIBRE INC [MELI]
EQUITY
58733R102
1,504
1,846.00
2,776,384.00
0.7
SERVICENOW INC [NOW]
EQUITY
81762P102
2,369
1,140.62
2,702,128.78
0.7
BLACKSTONE INC [BX]
EQUITY
09260D107
14,558
182.52
2,657,126.16
0.7
GILEAD SCIENCES INC [GILD]
EQUITY
375558103
27,632
95.35
2,634,711.20
0.7
MARRIOTT INTERNATIONAL -CL A [MAR]
EQUITY
571903202
9,094
288.05
2,619,526.70
0.7
ADOBE INC [ADBE]
EQUITY
00724F101
5,585
438.60
2,449,581.00
0.6
INTL BUSINESS MACHINES CORP [IBM]
EQUITY
459200101
10,922
224.13
2,447,947.86
0.6
SOUTHERN CO/THE [SO]
EQUITY
842587107
27,416
86.50
2,371,484.00
0.6
DUKE ENERGY CORP [DUK]
EQUITY
26441C204
19,858
112.62
2,236,407.96
0.6
PROLOGIS INC [PLD]
EQUITY
74340W103
18,420
121.25
2,233,425.00
0.6
QUALCOMM INC [QCOM]
EQUITY
747525103
12,913
171.18
2,210,447.34
0.6
HILTON WORLDWIDE HOLDINGS IN [HLT]
EQUITY
43300A203
8,823
249.72
2,203,279.56
0.6
ADVANCED MICRO DEVICES [AMD]
EQUITY
007903107
18,046
115.01
2,075,470.46
0.5
TEXAS INSTRUMENTS INC [TXN]
EQUITY
882508104
11,021
187.03
2,061,257.63
0.5
KKR & CO INC [KKR]
EQUITY
48251W104
12,416
161.20
2,001,459.20
0.5
WILLIAMS COS INC [WMB]
EQUITY
969457100
36,348
54.55
1,982,783.40
0.5
FREEPORT-MCMORAN INC [FCX]
EQUITY
35671D857
52,697
36.67
1,932,398.99
0.5
INTUIT INC [INTU]
EQUITY
461202103
3,141
606.62
1,905,393.42
0.5
GE VERNOVA INC [GEV]
EQUITY
36828A101
5,533
330.00
1,825,890.00
0.5
AIRBNB INC-CLASS A [ABNB]
EQUITY
009066101
13,957
128.96
1,799,894.72
0.5
CME GROUP INC [CME]
EQUITY
12572Q105
7,305
236.95
1,730,919.75
0.4
NORTHROP GRUMMAN CORP [NOC]
EQUITY
666807102
3,435
503.23
1,728,595.05
0.4
EQUINIX INC [EQIX]
EQUITY
29444U700
1,920
900.10
1,728,192.00
0.4
ZOETIS INC [ZTS]
EQUITY
98978V103
9,753
173.03
1,687,561.59
0.4
LULULEMON ATHLETICA INC [LULU]
EQUITY
550021109
3,745
402.90
1,508,860.50
0.4
BECTON DICKINSON AND CO [BDX]
EQUITY
075887109
6,000
248.70
1,492,200.00
0.4
WW GRAINGER INC [GWW]
EQUITY
384802104
1,315
1,132.42
1,489,132.30
0.4
AUTOMATIC DATA PROCESSING [ADP]
EQUITY
053015103
4,873
300.15
1,462,630.95
0.4
SCHLUMBERGER LTD [SLB]
EQUITY
806857108
32,862
42.54
1,397,949.48
0.4
ALTRIA GROUP INC [MO]
EQUITY
02209S103
25,564
53.45
1,366,395.80
0.4
CORTEVA INC [CTVA]
EQUITY
22052L104
20,678
64.47
1,333,110.66
0.3
NIKE INC -CL B [NKE]
EQUITY
654106103
16,795
75.58
1,269,366.10
0.3
PALO ALTO NETWORKS INC [PANW]
EQUITY
697435105
6,576
189.30
1,244,836.80
0.3
MONDELEZ INTERNATIONAL INC-A [MDLZ]
EQUITY
609207105
20,650
58.33
1,204,514.50
0.3
TRAVELERS COS INC/THE [TRV]
EQUITY
89417E109
4,779
251.01
1,199,576.79
0.3
EBAY INC [EBAY]
EQUITY
278642103
17,804
66.84
1,190,019.36
0.3
SIMON PROPERTY GROUP INC [SPG]
EQUITY
828806109
6,463
176.70
1,142,012.10
0.3
COLGATE-PALMOLIVE CO [CL]
EQUITY
194162103
12,037
91.21
1,097,894.77
0.3
ARISTA NETWORKS INC [ANET]
EQUITY
040413205
10,865
100.30
1,089,759.50
0.3
UNITED RENTALS INC [URI]
EQUITY
911363109
1,392
769.91
1,071,714.72
0.3
KLA CORP [KLAC]
EQUITY
482480100
1,505
702.71
1,057,578.55
0.3
CUMMINS INC [CMI]
EQUITY
231021106
2,946
348.84
1,027,682.64
0.3
DOW INC [DOW]
EQUITY
260557103
24,469
41.92
1,025,740.48
0.3
DUPONT DE NEMOURS INC [DD]
EQUITY
26614N102
13,274
76.66
1,017,584.84
0.3
MARVELL TECHNOLOGY INC [MRVL]
EQUITY
573874104
10,112
100.33
1,014,536.96
0.3
EXELON CORP [EXC]
EQUITY
30161N101
24,899
40.70
1,013,389.30
0.3
INTEL CORP [INTC]
EQUITY
458140100
48,889
20.29
991,957.81
0.3
OCCIDENTAL PETROLEUM CORP [OXY]
EQUITY
674599105
19,977
49.56
990,060.12
0.3
BAKER HUGHES CO [BKR]
EQUITY
05722G100
22,632
43.55
985,623.60
0.3
DELTA AIR LINES INC [DAL]
EQUITY
247361702
13,905
67.77
942,341.85
0.2
L3HARRIS TECHNOLOGIES INC [LHX]
EQUITY
502431109
4,239
222.29
942,287.31
0.2
AGILENT TECHNOLOGIES INC [A]
EQUITY
00846U101
6,000
150.96
905,760.00
0.2
EXPEDIA GROUP INC [EXPE]
EQUITY
30212P303
5,355
169.11
905,584.05
0.2
CADENCE DESIGN SYS INC [CDNS]
EQUITY
127387108
3,109
289.87
901,205.83
0.2
SYNOPSYS INC [SNPS]
EQUITY
871607107
1,723
510.73
879,987.79
0.2
QUANTA SERVICES INC [PWR]
EQUITY
74762E102
2,966
292.43
867,347.38
0.2
CROWDSTRIKE HOLDINGS INC - A [CRWD]
EQUITY
22788C105
2,285
373.75
854,018.75
0.2
CONSOLIDATED EDISON INC [ED]
EQUITY
209115104
8,875
94.89
842,148.75
0.2
RESMED INC [RMD]
EQUITY
761152107
3,171
254.70
807,653.70
0.2
EDWARDS LIFESCIENCES CORP [EW]
EQUITY
28176E108
11,351
69.20
785,489.20
0.2
ALNYLAM PHARMACEUTICALS INC [ALNY]
EQUITY
02043Q107
2,698
276.73
746,617.54
0.2
AUTODESK INC [ADSK]
EQUITY
052769106
2,487
299.07
743,787.09
0.2
SPOTIFY TECHNOLOGY SA [SPOT]
EQUITY
L8681T102
1,422
513.98
730,879.56
0.2
FORTINET INC [FTNT]
EQUITY
34959E109
7,406
96.77
716,678.62
0.2
ARCH CAPITAL GROUP LTD [ACGL]
EQUITY
G0450A105
7,391
96.52
713,379.32
0.2
HARTFORD FINANCIAL SVCS GRP [HIG]
EQUITY
416515104
6,176
114.42
706,657.92
0.2
EXTRA SPACE STORAGE INC [EXR]
EQUITY
30225T102
4,456
156.00
695,136.00
0.2
BUILDERS FIRSTSOURCE INC [BLDR]
EQUITY
12008R107
3,907
173.51
677,903.57
0.2
STEEL DYNAMICS INC [STLD]
EQUITY
858119100
5,415
122.01
660,684.15
0.2
KIMBERLY-CLARK CORP [KMB]
EQUITY
494368103
4,962
131.41
652,056.42
0.2
WORKDAY INC-CLASS A [WDAY]
EQUITY
98138H101
2,373
264.20
626,946.60
0.2
NASDAQ INC [NDAQ]
EQUITY
631103108
7,553
81.46
615,267.38
0.2
DTE ENERGY COMPANY [DTE]
EQUITY
233331107
5,041
121.73
613,640.93
0.2
AMEREN CORPORATION [AEE]
EQUITY
023608102
6,514
94.13
613,162.82
0.2
SYNCHRONY FINANCIAL [SYF]
EQUITY
87165B103
8,755
69.86
611,624.30
0.2
MSCI INC [MSCI]
EQUITY
55354G100
972
623.73
606,265.56
0.2
GE HEALTHCARE TECHNOLOGY [GEHC]
EQUITY
36266G107
6,654
88.99
592,139.46
0.2
TRADE DESK INC/THE -CLASS A [TTD]
EQUITY
88339J105
4,890
119.10
582,399.00
0.2
ATLASSIAN CORP-CL A [TEAM]
EQUITY
049468101
2,107
268.00
564,676.00
0.1
EDISON INTERNATIONAL [EIX]
EQUITY
281020107
9,762
57.74
563,657.88
0.1
FORD MOTOR CO [F]
EQUITY
345370860
52,812
10.38
548,188.56
0.1
GENERAL MILLS INC [GIS]
EQUITY
370334104
8,772
61.64
540,706.08
0.1
ARES MANAGEMENT CORP - A [ARES]
EQUITY
03990B101
2,802
189.98
532,323.96
0.1
FAIR ISAAC CORP [FICO]
EQUITY
303250104
279
1,842.64
514,096.56
0.1
BROWN & BROWN INC [BRO]
EQUITY
115236101
4,752
107.84
512,455.68
0.1
GARTNER INC [IT]
EQUITY
366651107
933
537.05
501,067.65
0.1
SBA COMMUNICATIONS CORP [SBAC]
EQUITY
78410G104
2,365
207.94
491,778.10
0.1
CINCINNATI FINANCIAL CORP [CINF]
EQUITY
172062101
3,291
140.89
463,668.99
0.1
LENNOX INTERNATIONAL INC [LII]
EQUITY
526107107
697
655.99
457,225.03
0.1
CBOE GLOBAL MARKETS INC [CBOE]
EQUITY
12503M108
2,224
205.44
456,898.56
0.1
PRINCIPAL FINANCIAL GROUP [PFG]
EQUITY
74251V102
5,188
82.62
428,632.56
0.1
CONSTELLATION BRANDS INC-A [STZ]
EQUITY
21036P108
2,276
187.94
427,751.44
0.1
HUBSPOT INC [HUBS]
EQUITY
443573100
547
758.43
414,861.21
0.1
HP INC [HPQ]
EQUITY
40434L105
11,892
33.33
396,360.36
0.1
SOUTHWEST AIRLINES CO [LUV]
EQUITY
844741108
11,896
32.58
387,571.68
0.1
BOOZ ALLEN HAMILTON HOLDINGS [BAH]
EQUITY
099502106
2,829
135.38
382,990.02
0.1
ESSEX PROPERTY TRUST INC [ESS]
EQUITY
297178105
1,344
283.09
380,472.96
0.1
PULTEGROUP INC [PHM]
EQUITY
745867101
3,172
118.05
374,454.60
0.1
HEWLETT PACKARD ENTERPRISE [HPE]
EQUITY
42824C109
15,538
22.95
356,597.10
0.1
ROCKWELL AUTOMATION INC [ROK]
EQUITY
773903109
1,249
284.22
354,990.78
0.1
ANSYS INC [ANSS]
EQUITY
03662Q105
1,027
344.89
354,202.03
0.1
BROADRIDGE FINANCIAL SOLUTIO [BR]
EQUITY
11133T103
1,457
239.54
349,009.78
0.1
MOLINA HEALTHCARE INC [MOH]
EQUITY
60855R100
1,073
311.88
334,647.24
0.1
ROBLOX CORP -CLASS A [RBLX]
EQUITY
771049103
4,917
67.17
330,274.89
0.1
NETAPP INC [NTAP]
EQUITY
64110D104
2,533
119.93
303,782.69
0.1
HEALTHPEAK PROPERTIES INC [DOC]
EQUITY
42250P103
12,324
21.20
261,268.80
0.1
BUNGE GLOBAL SA [BG]
EQUITY
H11356104
3,313
78.68
260,666.84
0.1
CAMDEN PROPERTY TRUST [CPT]
EQUITY
133131102
2,173
113.98
247,678.54
0.1
BIOMARIN PHARMACEUTICAL INC [BMRN]
EQUITY
09061G101
3,923
61.80
242,441.40
0.1
ZEBRA TECHNOLOGIES CORP-CL A [ZBRA]
EQUITY
989207105
578
399.36
230,830.08
0.1
FACTSET RESEARCH SYSTEMS INC [FDS]
EQUITY
303075105
471
475.43
223,927.53
0.1
TERADYNE INC [TER]
EQUITY
880770102
1,765
120.27
212,276.55
0.1
TRIMBLE INC [TRMB]
EQUITY
896239100
2,592
75.96
196,888.32
0.1
JACOBS SOLUTIONS INC [J]
EQUITY
46982L108
1,404
137.47
193,007.88
0.1
MONGODB INC [MDB]
EQUITY
60937P106
680
264.58
179,914.40
0.0
EPAM SYSTEMS INC [EPAM]
EQUITY
29414B104
682
252.06
171,904.92
0.0
BENTLEY SYSTEMS INC-CLASS B [BSY]
EQUITY
08265T208
2,403
47.24
113,517.72
0.0
AMENTUM HOLDINGS INC [AMTM]
EQUITY
023939101
1,404
21.53
30,228.12
0.0
Total
--
--
--
--
--
385,095
100.3
Cash and Other Assets Less Liabilities
--
--
--
--
--
--
-0.3
Total Net Assets
--
--
--
--
--
--
100%

As of 12/31/2024

Human Capital Factor US Large Cap ETF (HAPI)

CIBC Human Capital Index

-

Information Technology

HAPI: 28.4%

Benchmark: 28.4%

-

Financials

HAPI: 14.5%

Benchmark: 14.5%

-

Communication Services

HAPI: 13.2%

Benchmark: 13.1%

-

Health Care

HAPI: 11.4%

Benchmark: 11.4%

-

Consumer Discretionary

HAPI: 10.9%

Benchmark: 10.9%

-

Industrials

HAPI: 8.1%

Benchmark: 8.1%

-

Consumer Staples

HAPI: 4.8%

Benchmark: 4.8%

-

Energy

HAPI: 3.3%

Benchmark: 3.3%

-

Utilities

HAPI: 2.2%

Benchmark: 2.2%

-

Real Estate

HAPI: 1.9%

Benchmark: 1.9%

-

Materials

HAPI: 1.5%

Benchmark: 1.5%

-

Cash

HAPI: 0.0%

Benchmark: NaN%

HAPI: Human Capital Factor US Large Cap ETF

Benchmark: CIBC Human Capital 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 CIBC Human Capital 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.


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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. Harbor ETFs are new and have limited operating history to judge.

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 refers to excess returns earned on an investment.

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.

©2025 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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Harbor Funds Distributors, Inc. is the Distributor of the Harbor Mutual Funds.
Foreside Fund Services, LLC is the Distributor of the Harbor ETFs.
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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 © 2025 Harbor Capital Advisors, Inc. All rights reserved.