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.

Pool Corporation

Morningstar, Inc.

Wintrust Financial Corporation

WillScot Holdings Corporation

Paylocity Holding Corporation

Douglas Dynamics, Inc.

SS&C Technologies Holdings, Inc.

United Bankshares, Inc.

Janus International Group, Inc.

Artisan Partners Asset Management Inc.

Industrials

Financial Services

Technology

Consumer Cyclical

Real Estate

Healthcare

Energy

Basic Materials

Utilities

Consumer Defensive

Harbor Active Small Cap ETF (SMLL)

SMLL Holdings & Sector Breakdown