Summary

• During Q1 2026, the Harbor Human Capital Factor US Large Cap ETF returned -3.20%, (NAV), slightly underperforming its benchmark, Human Capital Factor Large Cap Total Return Index, which returned -3.07%.
• The top detractors included Exxon Mobil, Alphabet, and JPMorgan. The top contributors were Broadcom, Amazon, and Home Depot.
• Relative to the S&P 500 Index, the ETF has a slight relative overweight to Communication Services, with an underweight to Information Technology.

Subadvisor (since 10/12/22):

Harbor Capital Advisors, Inc

Portfolio Manager(s):

Steve Cook

Elizabeth Despain

Jim Erceg

Benchmark 1 Name: Human Capital Factor Large Cap Total Return Index

Benchmark 2 Name: S&P 500 Index

Investment Philosophy:

The