Strategy. The Fund invests primarily in equity securities, principally common stocks of small cap companies. Under normal circumstances, the Fund invests at least 80% of its net assets, plus borrowings for investment purposes, in securities of small cap companies. The Fund defines small cap companies as those having a market capitalization in the range of the Russell 2500 Index, excluding its largest 250 companies, at the time the Fund purchases the security. As of March 15, 2023, that range was $3.96 million to $6.03 billion, but it is expected to change frequently. The Fund employs a multi-manager approach to achieve its investment objective. The Funds investment adviser, Harbor Capital Advisors, Inc. (the Advisor) is responsible for selecting and overseeing investment subadvisers … Show more… The Fund invests primarily in equity securities, principally common stocks of small cap companies. Under normal circumstances, the Fund invests at least 80% of its net assets, plus borrowings for investment purposes, in securities of small cap companies. The Fund defines small cap companies as those having a market capitalization in the range of the Russell 2500 Index, excluding its largest 250 companies, at the time the Fund purchases the security. As of March 15, 2023, that range was $3.96 million to $6.03 billion, but it is expected to change frequently. The Fund employs a multi-manager approach to achieve its investment objective. The Funds investment adviser, Harbor Capital Advisors, Inc. (the Advisor) is responsible for selecting and overseeing investment subadvisers (each, a Subadvisor) for the Fund. The Advisor does not expect to independently identify securities for investment for the Fund. Instead, each Subadvisor is responsible for providing the Advisor with a model portfolio, which the Advisor will implement in its discretion in managing the Fund. The Advisor is solely responsible for implementing each strategy, which includes buying and selling securities as recommended by each Subadvisor. The Advisor in its discretion may decline to implement a Subadvisors recommendations under certain circumstances, including when the recommended securities are not available in the specific quantities or prices sought by the Subadvisor or when purchasing such securities in conjunction with the Funds existing holdings would violate an investment restriction of the Fund. The Advisor is responsible for determining the allocation of the Funds assets among each Subadvisors strategy. The Advisor will adjust those allocations over time based upon its qualitative and quantitative assessment of each strategy and how those strategies work in combination to produce idiosyncratic alpha ( i.e. returns resulting from stock selection rather than shifts in the broader market) that compounds over time. Under normal circumstances, the Advisor expects to review the allocations to each Subadvisors strategy quarterly. The Advisor has selected Connacht Asset Management, LP (Connacht), Copeland Capital Management, LLC (Copeland), Granahan Investment Management, LLC (Granahan), Huber Capital Management, LLC (Huber) and Reinhart Partners, Inc. (Reinhart) to each serve as a Subadvisor to the Fund. Each Subadvisor has its own process for identifying and evaluating companies and will act independently from the other Subadvisors. A Subadvisor will generally identify securities for its model portfolio by analyzing issuers based on factors such as financial performance, industry position, growth expectations or other investment considerations. A Subadvisor will remove securities from its model portfolio for which its outlook has changed or when it has identified more attractive investment prospects. The factors considered and the importance of various considerations varies by Subadvisor. The Fund may invest in securities issued by real estate investment trusts (REITs). The Fund may also invest in securities of foreign issuers. Foreign securities are typically expected to represent approximately 5% or fewer of the Funds assets. The Fund may also invest in American Depositary Receipts (ADRs), which are certificates typically issued by a bank or trust company that represent ownership interests in securities issued by a foreign or domestic company. Show less