The Harbor Active Small Cap ETF (SMLL) strives to achieve strong long-term total returns by investing in U.S. small-capitalization companies that are part of the Russell 2000 Index. Utilizing a proprietary bottom-up analysis, SMLL carefully constructs a concentrated portfolio of approximately 30 to 80 companies. These selections are based on their sustainable competitive advantages, robust business models, and reliable cash flow generation. The selection process incorporates key metrics such as Price to Free Cash Flow, Return on Invested Capital, and an examination of insider share purchases. Additionally, the fund scrutinizes a company's competitive position within its industry and the management's proficiency in deploying capital. Ongoing valuation analysis is key to determining a stock's intrinsic worth and identifying when it trades below this estimated value. SMLL exits holdings if there are significant shifts in fundamentals, market overvaluation, or when superior investment prospects emerge.

Reliance Steel & Aluminum Co.

WillScot Holdings Corporation

Pool Corporation

Wintrust Financial Corporation

Douglas Dynamics, Inc.

Morningstar, Inc.

Liberty Energy Inc.

United Bankshares, Inc.

SS&C Technologies Holdings, Inc.

Freshworks Inc.

Industrials

Financial Services

Technology

Consumer Cyclical

Energy

Basic Materials

Healthcare

Real Estate

Consumer Defensive

Utilities

Harbor Active Small Cap ETF

SMLL Holdings & Sector Breakdown

SMLL Holdings & Sector Breakdown