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 1/16/2025

$36.06

Price (NAV)

-$0.03

NAV Daily Change ($)

-0.08%

NAV Daily Change (%)

1.38%

NAV YTD Return

$36.08

Market Price

-$0.02

Market Daily Change ($)

-0.06%

Market Daily Change (%)

1.32%

Market YTD Return

Fund Facts

As of 1/16/2025

10/12/2022

Inception Date

0.35

Expense Ratio (%)
disclaimer

$378.652

Total Net Assets (million)

10,500,000

Shares Outstanding
(As of 1/17/2025)

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

187,835,325

Implied Liquidity™ (Shares)
disclaimer

$6,779,080,000.84

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 1/16/2025

$36.07

Bid/Ask Mid Price

$36.08

Closing Market Price

$0.00

Premium/Discount ($)

0.01%

Premium/Discount (%)

 

2024

Q1 2025

YTD

Days Traded at a Premium1911010
Days Traded at a Discount6000

0.16%

30-Day Median Bid/Ask Spread

7,277

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 1/16/2025

Company Name [Ticker]

% of Net Assets

NVIDIA CORP[NVDA]
7.6
AMAZON.COM INC[AMZN]
5.4
APPLE INC[AAPL]
5.2
MICROSOFT CORP[MSFT]
4.4
JPMORGAN CHASE & CO[JPM]
4.1
META PLATFORMS INC-CLASS A[META]
3.5
ALPHABET INC-CL A[GOOGL]
3.5
ALPHABET INC-CL C[GOOG]
3.1
ELI LILLY & CO[LLY]
3.0
MASTERCARD INC - A[MA]
2.5
% of Total Holdings:
42.3%

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 1/16/2025

Company Name [Ticker]

Category Name

Country

Cusip

Shares

Current Price ($)

Market Value ($)

% of Net Assets

NVIDIA CORP [NVDA]
EQUITY
67066G104
215,121
133.57
28,733,711.97
7.6
AMAZON.COM INC [AMZN]
EQUITY
023135106
92,975
220.66
20,515,863.50
5.4
APPLE INC [AAPL]
EQUITY
037833100
86,323
228.26
19,704,087.98
5.2
MICROSOFT CORP [MSFT]
EQUITY
594918104
38,818
424.58
16,481,346.44
4.4
JPMORGAN CHASE & CO [JPM]
EQUITY
46625H100
61,051
254.27
15,523,437.77
4.1
META PLATFORMS INC-CLASS A [META]
EQUITY
30303M102
21,781
611.30
13,314,725.30
3.5
ALPHABET INC-CL A [GOOGL]
EQUITY
02079K305
68,432
192.91
13,201,217.12
3.5
ALPHABET INC-CL C [GOOG]
EQUITY
02079K107
59,665
194.41
11,599,472.65
3.1
ELI LILLY & CO [LLY]
EQUITY
532457108
14,877
757.60
11,270,815.20
3.0
MASTERCARD INC - A [MA]
EQUITY
57636Q104
18,296
523.14
9,571,369.44
2.5
CHEVRON CORP [CVX]
EQUITY
166764100
48,218
159.38
7,684,984.84
2.0
JOHNSON & JOHNSON [JNJ]
EQUITY
478160104
50,726
147.77
7,495,781.02
2.0
BANK OF AMERICA CORP [BAC]
EQUITY
060505104
151,197
46.64
7,051,828.08
1.9
COMM SERV SELECT SECTOR SPDR [XLC]
EQUITY
81369Y852
61,986
96.55
5,984,748.30
1.6
BOOKING HOLDINGS INC [BKNG]
EQUITY
09857L108
1,141
4,865.00
5,550,965.00
1.5
PROCTER & GAMBLE CO/THE [PG]
EQUITY
742718109
34,214
160.50
5,491,347.00
1.5
BOSTON SCIENTIFIC CORP [BSX]
EQUITY
101137107
47,821
98.17
4,694,587.57
1.2
NETFLIX INC [NFLX]
EQUITY
64110L106
5,068
842.37
4,269,131.16
1.1
CATERPILLAR INC [CAT]
EQUITY
149123101
11,025
380.55
4,195,563.75
1.1
INTUITIVE SURGICAL INC [ISRG]
EQUITY
46120E602
7,125
584.08
4,161,570.00
1.1
GENERAL ELECTRIC [GE]
EQUITY
369604301
22,090
179.74
3,970,456.60
1.0
MORGAN STANLEY [MS]
EQUITY
617446448
28,468
135.81
3,866,239.08
1.0
AMERICAN EXPRESS CO [AXP]
EQUITY
025816109
11,955
311.48
3,723,743.40
1.0
SALESFORCE INC [CRM]
EQUITY
79466L302
10,968
320.00
3,509,760.00
0.9
COCA-COLA CO/THE [KO]
EQUITY
191216100
56,181
62.25
3,497,267.25
0.9
HONEYWELL INTERNATIONAL INC [HON]
EQUITY
438516106
15,601
222.69
3,474,186.69
0.9
AMGEN INC [AMGN]
EQUITY
031162100
11,908
269.43
3,208,372.44
0.8
APPLIED MATERIALS INC [AMAT]
EQUITY
038222105
16,706
186.48
3,115,334.88
0.8
BLACKROCK INC [BLK]
EQUITY
09290D101
3,101
995.72
3,087,727.72
0.8
PFIZER INC [PFE]
EQUITY
717081103
116,438
26.49
3,084,442.62
0.8
PEPSICO INC [PEP]
EQUITY
713448108
19,926
146.54
2,919,956.04
0.8
CISCO SYSTEMS INC [CSCO]
EQUITY
17275R102
48,796
59.82
2,918,976.72
0.8
LOCKHEED MARTIN CORP [LMT]
EQUITY
539830109
5,872
486.86
2,858,841.92
0.8
MERCADOLIBRE INC [MELI]
EQUITY
58733R102
1,500
1,837.18
2,755,770.00
0.7
DEERE & CO [DE]
EQUITY
244199105
6,229
439.11
2,735,216.19
0.7
BLACKSTONE INC [BX]
EQUITY
09260D107
14,523
176.72
2,566,504.56
0.7
GILEAD SCIENCES INC [GILD]
EQUITY
375558103
27,566
91.65
2,526,423.90
0.7
MARRIOTT INTERNATIONAL -CL A [MAR]
EQUITY
571903202
9,072
276.00
2,503,872.00
0.7
SERVICENOW INC [NOW]
EQUITY
81762P102
2,363
1,057.16
2,498,069.08
0.7
INTL BUSINESS MACHINES CORP [IBM]
EQUITY
459200101
10,896
222.66
2,426,103.36
0.6
ADOBE INC [ADBE]
EQUITY
00724F101
5,572
426.93
2,378,853.96
0.6
SOUTHERN CO/THE [SO]
EQUITY
842587107
27,351
83.89
2,294,475.39
0.6
HILTON WORLDWIDE HOLDINGS IN [HLT]
EQUITY
43300A203
8,802
246.65
2,171,013.30
0.6
DUKE ENERGY CORP [DUK]
EQUITY
26441C204
19,811
109.06
2,160,587.66
0.6
GE VERNOVA INC [GEV]
EQUITY
36828A101
5,520
391.00
2,158,320.00
0.6
WILLIAMS COS INC [WMB]
EQUITY
969457100
36,262
59.18
2,145,985.16
0.6
ADVANCED MICRO DEVICES [AMD]
EQUITY
007903107
18,003
118.44
2,132,275.32
0.6
FREEPORT-MCMORAN INC [FCX]
EQUITY
35671D857
52,572
40.03
2,104,457.16
0.6
QUALCOMM INC [QCOM]
EQUITY
747525103
12,882
161.43
2,079,541.26
0.5
TEXAS INSTRUMENTS INC [TXN]
EQUITY
882508104
10,995
187.37
2,060,133.15
0.5
PROLOGIS INC [PLD]
EQUITY
74340W103
18,376
110.93
2,038,449.68
0.5
INTUIT INC [INTU]
EQUITY
461202103
3,134
607.27
1,903,184.18
0.5
KKR & CO INC [KKR]
EQUITY
48251W104
12,387
153.24
1,898,183.88
0.5
AIRBNB INC-CLASS A [ABNB]
EQUITY
009066101
13,924
132.16
1,840,195.84
0.5
EQUINIX INC [EQIX]
EQUITY
29444U700
1,915
919.89
1,761,589.35
0.5
CME GROUP INC [CME]
EQUITY
12572Q105
7,288
232.31
1,693,075.28
0.4
NORTHROP GRUMMAN CORP [NOC]
EQUITY
666807102
3,427
481.19
1,649,038.13
0.4
ZOETIS INC [ZTS]
EQUITY
98978V103
9,730
169.37
1,647,970.10
0.4
WW GRAINGER INC [GWW]
EQUITY
384802104
1,312
1,110.35
1,456,779.20
0.4
AUTOMATIC DATA PROCESSING [ADP]
EQUITY
053015103
4,861
296.23
1,439,974.03
0.4
BECTON DICKINSON AND CO [BDX]
EQUITY
075887109
5,986
236.30
1,414,491.80
0.4
LULULEMON ATHLETICA INC [LULU]
EQUITY
550021109
3,736
370.99
1,386,018.64
0.4
SCHLUMBERGER LTD [SLB]
EQUITY
806857108
32,784
41.09
1,347,094.56
0.4
ALTRIA GROUP INC [MO]
EQUITY
02209S103
25,503
51.16
1,304,733.48
0.3
ARISTA NETWORKS INC [ANET]
EQUITY
040413205
10,858
118.13
1,282,655.54
0.3
CORTEVA INC [CTVA]
EQUITY
22052L104
20,629
61.63
1,271,365.27
0.3
MONDELEZ INTERNATIONAL INC-A [MDLZ]
EQUITY
609207105
20,601
58.00
1,194,858.00
0.3
NIKE INC -CL B [NKE]
EQUITY
654106103
16,755
71.11
1,191,448.05
0.3
MARVELL TECHNOLOGY INC [MRVL]
EQUITY
573874104
10,088
117.58
1,186,147.04
0.3
PALO ALTO NETWORKS INC [PANW]
EQUITY
697435105
6,568
177.17
1,163,652.56
0.3
TRAVELERS COS INC/THE [TRV]
EQUITY
89417E109
4,768
242.37
1,155,620.16
0.3
EBAY INC [EBAY]
EQUITY
278642103
17,762
65.06
1,155,595.72
0.3
KLA CORP [KLAC]
EQUITY
482480100
1,501
747.26
1,121,637.26
0.3
SIMON PROPERTY GROUP INC [SPG]
EQUITY
828806109
6,448
172.71
1,113,634.08
0.3
CUMMINS INC [CMI]
EQUITY
231021106
2,939
366.33
1,076,643.87
0.3
COLGATE-PALMOLIVE CO [CL]
EQUITY
194162103
12,008
88.56
1,063,428.48
0.3
UNITED RENTALS INC [URI]
EQUITY
911363109
1,389
757.42
1,052,056.38
0.3
BAKER HUGHES CO [BKR]
EQUITY
05722G100
22,578
46.33
1,046,038.74
0.3
OCCIDENTAL PETROLEUM CORP [OXY]
EQUITY
674599105
19,930
52.30
1,042,339.00
0.3
DUPONT DE NEMOURS INC [DD]
EQUITY
26614N102
13,242
76.66
1,015,131.72
0.3
EXPEDIA GROUP INC [EXPE]
EQUITY
30212P303
5,342
188.67
1,007,875.14
0.3
DOW INC [DOW]
EQUITY
260557103
24,411
40.87
997,677.57
0.3
QUANTA SERVICES INC [PWR]
EQUITY
74762E102
2,959
336.19
994,786.21
0.3
EXELON CORP [EXC]
EQUITY
30161N101
24,840
39.34
977,205.60
0.3
INTEL CORP [INTC]
EQUITY
458140100
48,773
19.67
959,364.91
0.3
CADENCE DESIGN SYS INC [CDNS]
EQUITY
127387108
3,102
298.90
927,187.80
0.2
L3HARRIS TECHNOLOGIES INC [LHX]
EQUITY
502431109
4,229
218.48
923,951.92
0.2
DELTA AIR LINES INC [DAL]
EQUITY
247361702
13,872
66.18
918,048.96
0.2
SYNOPSYS INC [SNPS]
EQUITY
871607107
1,719
515.81
886,677.39
0.2
AGILENT TECHNOLOGIES INC [A]
EQUITY
00846U101
5,986
144.72
866,293.92
0.2
CROWDSTRIKE HOLDINGS INC - A [CRWD]
EQUITY
22788C105
2,280
363.38
828,506.40
0.2
CONSOLIDATED EDISON INC [ED]
EQUITY
209115104
8,854
92.22
816,515.88
0.2
EDWARDS LIFESCIENCES CORP [EW]
EQUITY
28176E108
11,324
69.86
791,094.64
0.2
RESMED INC [RMD]
EQUITY
761152107
3,163
237.13
750,042.19
0.2
AUTODESK INC [ADSK]
EQUITY
052769106
2,481
290.08
719,688.48
0.2
ARCH CAPITAL GROUP LTD [ACGL]
EQUITY
G0450A105
7,373
96.10
708,545.30
0.2
SPOTIFY TECHNOLOGY SA [SPOT]
EQUITY
L8681T102
1,419
490.34
695,792.46
0.2
FORTINET INC [FTNT]
EQUITY
34959E109
7,388
94.05
694,841.40
0.2
HARTFORD FINANCIAL SVCS GRP [HIG]
EQUITY
416515104
6,161
112.47
692,927.67
0.2
STEEL DYNAMICS INC [STLD]
EQUITY
858119100
5,402
125.00
675,250.00
0.2
EXTRA SPACE STORAGE INC [EXR]
EQUITY
30225T102
4,445
151.60
673,862.00
0.2
ALNYLAM PHARMACEUTICALS INC [ALNY]
EQUITY
02043Q107
2,692
249.16
670,738.72
0.2
KIMBERLY-CLARK CORP [KMB]
EQUITY
494368103
4,950
126.65
626,917.50
0.2
BUILDERS FIRSTSOURCE INC [BLDR]
EQUITY
12008R107
3,898
160.66
626,252.68
0.2
DTE ENERGY COMPANY [DTE]
EQUITY
233331107
5,029
122.99
618,516.71
0.2
AMEREN CORPORATION [AEE]
EQUITY
023608102
6,499
93.86
609,996.14
0.2
EDISON INTERNATIONAL [EIX]
EQUITY
281020107
9,739
61.16
595,637.24
0.2
WORKDAY INC-CLASS A [WDAY]
EQUITY
98138H101
2,367
250.70
593,406.90
0.2
SYNCHRONY FINANCIAL [SYF]
EQUITY
87165B103
8,734
67.81
592,252.54
0.2
MSCI INC [MSCI]
EQUITY
55354G100
970
609.97
591,670.90
0.2
NASDAQ INC [NDAQ]
EQUITY
631103108
7,535
78.39
590,668.65
0.2
TRADE DESK INC/THE -CLASS A [TTD]
EQUITY
88339J105
4,878
120.84
589,457.52
0.2
GE HEALTHCARE TECHNOLOGY [GEHC]
EQUITY
36266G107
6,638
85.00
564,230.00
0.1
FAIR ISAAC CORP [FICO]
EQUITY
303250104
278
1,969.68
547,571.04
0.1
ATLASSIAN CORP-CL A [TEAM]
EQUITY
049468101
2,102
254.25
534,433.50
0.1
FORD MOTOR CO [F]
EQUITY
345370860
52,687
10.01
527,396.87
0.1
ARES MANAGEMENT CORP - A [ARES]
EQUITY
03990B101
2,795
187.90
525,180.50
0.1
GENERAL MILLS INC [GIS]
EQUITY
370334104
8,751
59.16
517,709.16
0.1
BROWN & BROWN INC [BRO]
EQUITY
115236101
4,741
105.95
502,308.95
0.1
SBA COMMUNICATIONS CORP [SBAC]
EQUITY
78410G104
2,359
204.18
481,660.62
0.1
GARTNER INC [IT]
EQUITY
366651107
931
512.06
476,727.86
0.1
CINCINNATI FINANCIAL CORP [CINF]
EQUITY
172062101
3,283
142.91
469,173.53
0.1
LENNOX INTERNATIONAL INC [LII]
EQUITY
526107107
695
642.86
446,787.70
0.1
CBOE GLOBAL MARKETS INC [CBOE]
EQUITY
12503M108
2,219
193.92
430,308.48
0.1
PRINCIPAL FINANCIAL GROUP [PFG]
EQUITY
74251V102
5,176
81.14
419,980.64
0.1
CONSTELLATION BRANDS INC-A [STZ]
EQUITY
21036P108
2,271
184.57
419,158.47
0.1
HUBSPOT INC [HUBS]
EQUITY
443573100
546
717.33
391,662.18
0.1
BOOZ ALLEN HAMILTON HOLDINGS [BAH]
EQUITY
099502106
2,822
136.30
384,638.60
0.1
HP INC [HPQ]
EQUITY
40434L105
11,864
32.35
383,800.40
0.1
SOUTHWEST AIRLINES CO [LUV]
EQUITY
844741108
11,868
32.16
381,674.88
0.1
ESSEX PROPERTY TRUST INC [ESS]
EQUITY
297178105
1,341
283.75
380,508.75
0.1
PULTEGROUP INC [PHM]
EQUITY
745867101
3,164
116.93
369,966.52
0.1
HEWLETT PACKARD ENTERPRISE [HPE]
EQUITY
42824C109
15,501
23.41
362,878.41
0.1
ANSYS INC [ANSS]
EQUITY
03662Q105
1,025
344.42
353,030.50
0.1
ROCKWELL AUTOMATION INC [ROK]
EQUITY
773903109
1,246
280.96
350,076.16
0.1
BROADRIDGE FINANCIAL SOLUTIO [BR]
EQUITY
11133T103
1,454
231.04
335,932.16
0.1
ROBLOX CORP -CLASS A [RBLX]
EQUITY
771049103
4,905
65.26
320,100.30
0.1
NETAPP INC [NTAP]
EQUITY
64110D104
2,527
119.98
303,189.46
0.1
MOLINA HEALTHCARE INC [MOH]
EQUITY
60855R100
1,070
282.60
302,382.00
0.1
BUNGE GLOBAL SA [BG]
EQUITY
H11356104
3,305
79.40
262,417.00
0.1
HEALTHPEAK PROPERTIES INC [DOC]
EQUITY
42250P103
12,295
20.70
254,506.50
0.1
CAMDEN PROPERTY TRUST [CPT]
EQUITY
133131102
2,168
112.65
244,225.20
0.1
TERADYNE INC [TER]
EQUITY
880770102
1,761
137.57
242,260.77
0.1
BIOMARIN PHARMACEUTICAL INC [BMRN]
EQUITY
09061G101
3,914
61.25
239,732.50
0.1
ZEBRA TECHNOLOGIES CORP-CL A [ZBRA]
EQUITY
989207105
577
402.72
232,369.44
0.1
FACTSET RESEARCH SYSTEMS INC [FDS]
EQUITY
303075105
470
459.97
216,185.90
0.1
JACOBS SOLUTIONS INC [J]
EQUITY
46982L108
1,401
138.33
193,800.33
0.1
TRIMBLE INC [TRMB]
EQUITY
896239100
2,586
73.90
191,105.40
0.1
MONGODB INC [MDB]
EQUITY
60937P106
678
247.96
168,116.88
0.0
EPAM SYSTEMS INC [EPAM]
EQUITY
29414B104
680
229.09
155,781.20
0.0
BENTLEY SYSTEMS INC-CLASS B [BSY]
EQUITY
08265T208
2,397
45.98
110,214.06
0.0
AMENTUM HOLDINGS INC [AMTM]
EQUITY
023939101
1,401
23.05
32,293.05
0.0
Total
--
--
--
--
--
378,580
100.5
Cash and Other Assets Less Liabilities
--
--
--
--
--
--
-0.5
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.