| Investment Objective: |
The Fund provides focused exposure to a concentrated group of large-capitalization energy companies that the Advisor (as defined below) refers to as the "Munificent Seven" ExxonMobil, Chevron, ConocoPhillips, Shell, TotalEnergies, BP and Equinordue to their central role in global energy markets. Harbor Capital Advisors, Inc. (the "Advisor"), the investment adviser to the Fund, uses the term "Munificent," meaning giving lavishly, to reflect these companies' historically high free cash flow yields and their record of returning capital to shareholders through dividends and/or share repurchases. The Fund expects to gain exposure to the "Munificent Seven" companies primarily through direct investments in the equity securities of such companies and swap agreements. Equity securities in which the Fund invests primarily include common stocks and American Depositary Receipts (ADRs). The Fund's exposures to the Munificent Seven companies are generally weighted by market capitalization, though the Advisor retains discretion to adjust weightings based on diversification considerations and/or its assessment of individual company fundamentals or macroeconomic factors. The Advisor rebalances the Fund quarterly. |
