ContactHarbor International Core Fund (HAONX)
Harbor International Core Fund (HAONX)
- Quant Pioneer. Acadian is a specialist in quantitative international equity strategies. Founded in 1987, it was one of the pioneers in systematic investing.
- Robust Approach. Acadian’s quantitative models are grounded in longstanding economic principles and built on years of research carried out by a sizable and experienced team of researchers.
- Continuous Improvement. Acadian’s culture is focused on collaboration and continuous improvement. A robust research calendar drives ongoing development to keep models fresh and responsive to market evolution.
- Wide-Ranging Exposure. Given its broad all-cap portfolio and style-neutral approach, the fund can serve as the sole international holding in a diversified portfolio.
Related Products to Consider
Overview
Investment Team
As of 1/31/2025
3/1/2019
Inception Date
1.21
Net Expense Ratio
1.43
Gross Expense Ratio
$305.373
Total Fund Net Assets (million)
As of 1/31/2025
$4.921
Total Share Class Net Assets (million)
As of 1/31/2025
HAONX
Ticker
2444
Fund Number
Share Class:
Investor Class
“The drivers of stock prices are multi-faceted and change frequently. In our experience, a systematic, objective approach is the best way to exploit the associated mispricing opportunities.”
Brendan Bradley
CIO, Acadian Asset Management
Performance
3 Mo.
YTD Return
1 Yr.
3 Yr.
5 Yr.
Since Fund Inception
Net Expense Ratio
Gross Expense Ratio
International Core Fund
5.55%
6.19%
17.66%
6.30%
9.02%
8.80%
1.21%
1.43%
MSCI EAFE (ND) Index
2.28%
5.26%
8.65%
5.12%
6.25%
--
--
--
Performance data shown represents past performance and is no guarantee of future results. Past performance is net of management fees and expenses and reflects reinvested dividends and distributions. Past performance reflects the beneficial effect of any expense waivers or reimbursements, without which returns would have been lower. Investment returns and principal value will fluctuate and when redeemed may be worth more or less than their original cost. Returns for periods less than one year are not annualized. Current performance may be higher or lower and is available through the most recent month end at harborcapital.com or by calling 800-422-1050.
The MSCI EAFE (ND) Index is an unmanaged index generally representative of major overseas stock markets. This unmanaged index does not reflect fees and expenses and is not available for direct investment.
Price History
Distribution History
Record Date
Reinvest Date
Payable Date
Return of Capital Non Taxable Dist
Ordinary Income
Total Capital Gains
Short Term Capital Gains
Mid Term Capital Gains
Long Term Capital Gains
Total Distribution
Foreign Tax Credit
Reinvest Price
12/19/2024
12/20/2024
12/20/2024
0.00000
0.19665
0.07391
--
0.00000
0.07391
0.27056
0.03005
12.77
12/18/2023
12/19/2023
12/19/2023
0.00000
0.19613
0.00000
--
0.00000
--
0.19613
0.02688
11.57
12/16/2022
12/19/2022
12/19/2022
0.00000
0.25354
0.00000
--
0.00000
--
0.25354
0.02262
10.42
12/17/2021
12/20/2021
12/20/2021
0.00000
0.31860
0.99751
0.08911
0.00000
0.90840
1.31611
0.02905
12.23
12/16/2020
12/17/2020
12/17/2020
0.00000
0.12647
0.00000
0.00000
0.00000
0.00000
0.12647
0.02756
11.78
12/13/2019
12/16/2019
12/16/2019
0.00000
0.22656
0.00000
0.00000
0.00000
0.00000
0.22656
0.02201
10.63
Holdings
Full Holdings
As of 12/31/2024
Download: Full Holdings (csv)
Company Name [Ticker]
Country
Shares (000's)
Current Price ($)
Market Value ($000's)
% of Net Assets
Roche Holding Ltd Dividend Right Cert. [ROG]
34
314.96
10,723
3.5
Novartis AG [NOVN]
84
105.26
8,812
2.9
BNP Paribas S.A. Class A [BNP]
92
68.32
6,253
2.0
Deutsche Boerse AG [DB1]
24
247.83
6,024
2.0
ABB Ltd. [ABBN]
103
55.01
5,673
1.9
adidas AG [ADS]
21
264.98
5,452
1.8
Spotify Technology SA [SPOT]
9
548.55
4,831
1.6
Barclays PLC Sponsored ADR [BCS]
327
14.68
4,800
1.6
Wolters Kluwer N.V. [WKL]
26
182.70
4,746
1.6
Recruit Holdings Co. Ltd. [6098]
66
70.58
4,623
1.5
Experian PLC [EXPN]
91
49.79
4,509
1.5
SAP SE [SAP]
16
279.12
4,354
1.4
UBS Group AG [UBSG]
109
35.61
3,873
1.3
Check Point Software Technologies Ltd. [CHKP]
18
218.02
3,853
1.3
GSK plc Sponsored ADR [GSK]
106
35.27
3,752
1.2
Telefonaktiebolaget LM Ericsson Sponsored ADR Class B [ERIC]
487
7.49
3,647
1.2
Logitech International S.A. [LOGN]
35
100.74
3,487
1.1
BASF SE [BAS]
70
48.45
3,408
1.1
Wix.com Ltd. [WIX]
13
238.89
3,174
1.0
NatWest Group Plc [NWG]
583
5.38
3,136
1.0
Industria de Diseno Textil S.A. [ITX]
53
54.81
2,921
1.0
Nintendo Co. Ltd. [7974]
44
66.06
2,927
1.0
Aristocrat Leisure Limited [ALL]
61
47.14
2,861
0.9
Schindler Holding Ltd. Pref [SCHP]
10
290.73
2,861
0.9
NAVER Corp. [035420]
19
149.00
2,838
0.9
Sea Limited Sponsored ADR Class A [SE]
23
121.79
2,815
0.9
A.P. Moller - Maersk A/S Class B [MAERSK.B]
2
1,482.96
2,801
0.9
China Construction Bank Corporation Class H [939]
3,411
0.81
2,771
0.9
Infosys Limited Sponsored ADR [INFY]
125
21.95
2,752
0.9
Koninklijke Ahold Delhaize N.V. [AD]
78
35.51
2,759
0.9
Adyen NV [ADYEN]
2
1,632.09
2,672
0.9
FAST RETAILING CO. LTD. [9983]
8
329.54
2,636
0.9
Standard Chartered PLC [STAN]
192
13.57
2,603
0.9
CaixaBank SA [CABK]
419
6.09
2,552
0.8
Centrica plc [CNA]
1,439
1.77
2,547
0.8
Klepierre SA [LI]
86
29.84
2,560
0.8
Novo Nordisk A/S Sponsored ADR Class B [NVO]
30
84.45
2,530
0.8
Hermes International SCA [RMS]
1
2,831.73
2,500
0.8
Skandinaviska Enskilda Banken AB Class A [SEB.A]
161
14.20
2,289
0.8
Sony Group Corporation [6758]
102
22.22
2,264
0.7
Sumitomo Mitsui Financial Group Inc. [8316]
91
24.98
2,273
0.7
Pro Medicus Ltd. [PME]
13
173.65
2,251
0.7
Deutsche Bank Aktiengesellschaft [DBK]
107
19.69
2,104
0.7
Fujitsu Limited [6702]
108
19.49
2,107
0.7
Pandora A/S [PNDORA]
11
192.32
2,128
0.7
Tokio Marine Holdings Inc. [8766]
62
33.32
2,063
0.7
Societe Generale S.A. Class A [GLE]
63
32.49
2,042
0.7
Stellantis N.V. [STLAM]
150
13.47
2,023
0.7
STMicroelectronics NV ADR RegS [STM]
89
22.45
2,009
0.7
Sage Group plc [SGE]
118
16.75
1,970
0.6
CyberArk Software Ltd. [CYBR]
5
370.98
1,900
0.6
NEC Corp. [6701]
19
100.26
1,865
0.6
ASE Technology Holding Co. Ltd. Sponsored ADR [ASX]
175
10.15
1,773
0.6
Bluescope Steel Limited [BSL]
131
13.28
1,742
0.6
Brambles Limited [BXB]
142
12.35
1,755
0.6
Volvo AB Class B [VOLV.B]
63
27.73
1,751
0.6
Givaudan SA [GIVN]
0
4,390.73
1,730
0.6
JAPAN POST HOLDINGS Co. Ltd. [6178]
161
10.50
1,693
0.5
Lasertec Corp. [6920]
17
99.90
1,648
0.5
ORLEN Spolka Akcyjna [PKN]
124
13.27
1,644
0.5
Genmab A/S [GMAB]
8
198.45
1,587
0.5
Qantas Airways Limited [QAN]
270
5.88
1,584
0.5
Grab Holdings Limited Class A [GRAB]
337
4.58
1,543
0.5
iShares MSCI EAFE ETF [EFA]
19
79.24
1,478
0.5
Eisai Co. Ltd. [4523]
47
29.84
1,406
0.5
James Hardie Industries PLC Chess Units of Foreign Securities [JHX]
41
34.08
1,381
0.5
Trend Micro Incorporated [4704]
23
59.61
1,347
0.4
DAIKIN INDUSTRIES LTD. [6367]
11
118.63
1,317
0.4
International Consolidated Airlines Group SA [IAG]
313
4.20
1,313
0.4
Mitsubishi UFJ Financial Group Inc. [8306]
104
12.78
1,330
0.4
Cochlear Limited [COH]
6
199.37
1,292
0.4
Japan Exchange Group Inc. [8697]
122
10.66
1,298
0.4
On Holding AG Class A [ONON]
21
59.88
1,269
0.4
La Francaise des Jeux SA [FDJ]
32
38.13
1,224
0.4
Ricoh Company Ltd. [7752]
107
11.54
1,238
0.4
SoftBank Group Corp. [9984]
20
60.77
1,197
0.4
ASML Holding NV ADR [ASML]
2
739.31
1,175
0.4
Dai-ichi Life HoldingsInc. [8750]
43
27.52
1,169
0.4
Erste Group Bank AG [EBS]
18
61.79
1,096
0.4
Publicis Groupe SA [PUB]
10
107.02
1,098
0.4
Postal Savings Bank of China Co. Ltd. Class H [1658]
1,731
0.60
1,031
0.3
Wartsila Oyj Abp [WRT1V]
55
18.98
1,046
0.3
Hana Financial Group Inc. [086790]
25
41.64
1,024
0.3
Lottery Corporation Limited [TLC]
323
3.15
1,017
0.3
Silicon Motion Technology Corporation Sponsored ADR [SIMO]
18
54.61
1,008
0.3
Dassault Aviation SA [AM]
4
226.41
977
0.3
Mitsubishi Electric Corp. [6503]
59
16.61
971
0.3
Novo Nordisk A/S Class B [NOVO.B]
12
84.60
980
0.3
Orica Limited [ORI]
90
10.99
987
0.3
Panasonic Holdings Corporation [6752]
94
10.31
968
0.3
Talanx AG [TLX]
12
85.35
988
0.3
Gaztransport & Technigaz SA [GTT]
6
133.17
775
0.3
Nordea Bank Abp [NDA.FI]
81
11.93
961
0.3
REA Group Ltd [REA]
6
155.77
944
0.3
RELX PLC [REL]
19
50.01
963
0.3
Mazda Motor Corp. [7261]
133
6.88
912
0.3
Murata Manufacturing Co. Ltd. [6981]
57
15.95
912
0.3
Rexel SA [RXL]
34
26.59
907
0.3
Tokyo Electron Ltd. [8035]
6
169.23
931
0.3
NN Group N.V. [NN]
19
46.12
883
0.3
Sandvik AB [SAND]
42
20.80
877
0.3
Vodafone Group Plc [VOD]
1,057
0.85
902
0.3
Amadeus IT Group SA Class A [AMS]
12
73.81
873
0.3
Heidelberg Materials AG [HEI]
6
141.85
855
0.3
PTT Exploration & Production Plc NVDR [PTTEP.R]
224
3.79
848
0.3
Capcom Co. Ltd. [9697]
36
22.97
836
0.3
Empire Co Ltd Class A [EMP.A]
28
29.51
817
0.3
ARM Holdings PLC ADR [ARM]
5
159.55
808
0.3
Himax Technologies Inc. Sponsored ADR [HIMX]
78
10.12
790
0.3
Leonardo SpA [LDO]
26
31.46
811
0.3
Mizuho Financial Group Inc. [8411]
29
27.81
809
0.3
PT Alamtri Resources Indonesia Tbk [ADRO]
5,623
0.14
804
0.3
Telia Company AB [TELIA]
270
2.95
795
0.3
Banca Mediolanum SpA [BMED]
57
13.53
767
0.3
Enghouse Systems Limited [ENGH]
41
19.05
775
0.3
Nippon Shinyaku Co. Ltd. [4516]
32
24.31
771
0.3
BANK POLSKA KASA OPIEKI SA [PEO]
19
39.55
733
0.2
Brother Industries Ltd. [6448]
42
17.72
737
0.2
KBC Group N.V. [KBC]
10
77.28
751
0.2
Sompo HoldingsInc. [8630]
26
28.10
725
0.2
Svenska Handelsbanken AB Class A [SHB.A]
67
11.10
744
0.2
Abu Dhabi Commercial Bank [ADCB]
218
3.26
710
0.2
Bilibili Inc. Class Z [9626]
41
17.16
711
0.2
Dassault Systemes SE [DSY]
18
39.29
695
0.2
Northern Star Resources Ltd [NST]
65
10.79
701
0.2
SCREEN Holdings Co. Ltd [7735]
10
70.55
698
0.2
HOCHTIEF Aktiengesellschaft [HOT]
5
145.33
661
0.2
Krung Thai Bank Public Co. Ltd. NVDR [KTB.R]
1,010
0.68
687
0.2
Nomura Holdings Inc. [8604]
102
6.58
672
0.2
Emirates Telecommunications Group Company PJSC [EAND]
138
4.66
644
0.2
EXOR N.V. [EXO]
7
95.38
645
0.2
Hikma Pharmaceuticals Plc [HIK]
23
28.48
653
0.2
Kongsberg Gruppen ASA [KOG]
5
119.07
647
0.2
Carnival plc Sponsored ADR [CUK]
22
22.51
499
0.2
Compagnie Financiere Richemont SA [CFR]
3
195.03
603
0.2
JAPAN POST INSURANCE Co. Ltd. [7181]
32
19.58
623
0.2
ONO Pharmaceutical Co. Ltd. [4528]
59
10.42
619
0.2
Industrial and Commercial Bank of China Limited Class H [1398]
872
0.68
592
0.2
KB Financial Group Inc. [105560]
8
56.31
467
0.2
Komercni banka a.s. [KOMB]
16
36.77
575
0.2
Otsuka Corporation [4768]
25
22.62
570
0.2
USS Co. Ltd. [4732]
64
9.00
571
0.2
Astellas Pharma Inc. [4503]
56
9.78
550
0.2
Bandai Namco Holdings Inc. [7832]
22
24.93
539
0.2
Logista Integral S.A. [LOG]
18
30.33
554
0.2
Olympus Corp. [7733]
36
15.29
544
0.2
Orion Oyj Class B [ORNBV]
10
54.41
560
0.2
SITC International Holdings Co. Ltd. [1308]
236
2.39
563
0.2
TIS Inc. [3626]
25
22.22
553
0.2
Investec plc [INP]
84
6.39
536
0.2
Yaskawa Electric Corporation [6506]
17
29.31
507
0.2
Banco Bilbao Vizcaya Argentaria S.A. [BBVA]
42
11.49
485
0.2
DNB Bank ASA [DNB]
23
21.30
489
0.2
New Hope Corporation Limited [NHC]
165
3.02
497
0.2
CES Energy Solutions Corp [CEU]
56
6.90
385
0.2
Computershare Limited [CPU]
21
21.93
466
0.2
DWS Group GmbH & Co. KGaA [DWS]
9
49.59
457
0.2
Hexagon AB Class B [HEXA.B]
40
11.72
467
0.2
Kuaishou Technology Class B [1024]
86
5.40
466
0.2
NICE Ltd. Sponsored ADR [NICE]
3
166.14
442
0.1
Vipshop Holdings Ltd Sponsored ADR [VIPS]
29
14.37
417
0.1
Zalando SE [ZAL]
12
37.57
435
0.1
ADNOC Drilling Company PJSC [ADNOCDRILL]
261
1.47
384
0.1
Banca Popolare di Sondrio S.p.A. [BPSO]
44
9.29
412
0.1
Carlsberg AS Class B [CARL.B]
4
105.12
390
0.1
Knorr-Bremse AG [KBX]
5
79.53
403
0.1
NEXON Co. Ltd. [3659]
31
13.09
406
0.1
PT Astra International Tbk [ASII]
1,323
0.29
389
0.1
Subaru Corporation [7270]
23
17.57
409
0.1
Tenaga Nasional Bhd [5347]
97
3.34
323
0.1
ADNOC Logistics & Services Plc [ADNOCLS]
270
1.41
380
0.1
CD Projekt S.A. [CDR]
7
52.06
376
0.1
Kasikornbank Public Co. Ltd. NVDR [KBANK.R]
78
4.77
373
0.1
Seiko Epson Corp. [6724]
20
18.19
360
0.1
Wipro Limited Sponsored ADR [WIT]
101
3.67
369
0.1
Abu Dhabi Islamic Bank [ADIB]
79
4.25
335
0.1
Kyowa Kirin Co. Ltd. [4151]
22
14.98
330
0.1
Nemetschek SE [NEM]
3
120.48
344
0.1
Raiffeisen Bank International AG [RBI]
15
22.83
341
0.1
Yalla Group Ltd. Sponsored ADR Class A [YALA]
83
3.98
332
0.1
Aldar Properties - P J S C [ALDAR]
152
2.08
316
0.1
Arcadis NV [ARCAD]
4
60.89
252
0.1
Euronext NV [ENX]
3
116.53
321
0.1
Evolution Mining Limited [EVN]
88
3.56
312
0.1
Santen Pharmaceutical Co. Ltd. [4536]
31
10.12
310
0.1
Sharjah Islamic Bank [SIB]
423
0.72
304
0.1
SPIE SA [SPIE]
9
33.47
304
0.1
United Microelectronics Corp. Sponsored ADR [UMC]
53
5.78
304
0.1
Woori Financial Group Inc. [316140]
27
11.08
301
0.1
Costamare Inc. [CMRE]
22
11.66
261
0.1
Technip Energies NV [TE]
9
28.57
269
0.1
Continental AG [CON]
3
71.50
248
0.1
Criteo SA Sponsored ADR Repr 1 Sh [CRTO]
7
37.99
260
0.1
PAL GROUP Holdings Co. Ltd. [2726]
10
19.44
198
0.1
QinetiQ Group plc [QQ]
54
4.63
249
0.1
Singapore Exchange Ltd. [S68]
26
9.05
237
0.1
Volvo Car AB Class B [VOLCAR.B]
104
2.27
235
0.1
Chemical Works of Gedeon Richter Plc [RICHT]
8
25.96
220
0.1
Datatec Limited [DTC]
78
2.65
206
0.1
Hafnia Limited [HAFNI]
42
5.29
222
0.1
Samudera Shipping Line Ltd [S56]
342
0.61
208
0.1
Scout24 SE [G24]
2
97.46
201
0.1
Tiger Brands Limited [TBS]
15
14.79
223
0.1
Alfen NV [ALFEN]
12
12.46
145
0.1
Petronas Dagangan Bhd. [5681]
39
4.40
170
0.1
ROCKWOOL A/S Class B [ROCK.B]
0
356.36
172
0.1
Suzuken Co. Ltd. [9987]
6
31.32
172
0.1
Astral Foods Limited [ARL]
15
9.51
140
0.1
BIPROGY Inc. [8056]
5
31.07
162
0.1
BRF SA [BRFS3]
37
3.75
139
0.1
CAR Group Limited [CAR]
6
25.31
157
0.1
Hera S.p.A. [HER]
32
3.55
114
0.1
IG Group Holdings plc [IGG]
9
12.41
114
0.1
M3 Inc. [2413]
17
9.17
152
0.1
Mitsuboshi Belting Ltd. [5192]
5
25.45
125
0.1
PHX Energy Services Corp. [PHX]
23
6.32
146
0.1
SRG Global Limited [SRG]
133
0.86
114
0.1
Barco NV [BAR]
12
10.01
116
0.0
CEWE Stiftung & Co. KGaA [CWC]
1
106.24
114
0.0
ChipMOS Technologies Inc. Sponsored ADR [IMOS]
5
19.86
108
0.0
Dah Sing Banking Group Limited [2356]
107
1.02
109
0.0
Daihatsu Diesel Mfg. Co. Ltd. [6023]
7
14.95
109
0.0
Durr AG [DUE]
5
24.85
134
0.0
Eco World Development Group Bhd. [8206]
195
0.47
91
0.0
Equinor ASA [EQNR]
6
24.21
134
0.0
Hanwa Co. Ltd. [8078]
3
31.69
101
0.0
Japan Aviation Electronics Industry Limited [6807]
7
18.24
128
0.0
JOYY Inc. Sponsored ADR Class A [YY]
3
43.35
123
0.0
Konica Minolta Inc. [4902]
25
4.22
104
0.0
KSB SE & Co. KGaA Vorz.Akt. ohne Stimmrecht [KSB3]
0
669.47
116
0.0
LG Electronics Inc. [066570]
2
57.95
129
0.0
Maxell Ltd. [6810]
10
12.94
132
0.0
Nihon Trim Co. Ltd. [6788]
5
23.93
112
0.0
OBIC Co. Ltd. [4684]
4
30.02
108
0.0
Pason Systems Inc. [PSI]
11
9.46
100
0.0
Petroleo Brasileiro SA Sponsored ADR [PBR]
8
12.86
101
0.0
PT Bank Danamon Indonesia Tbk Class A [BDMN]
741
0.16
116
0.0
Rubis SCA [RUI]
4
24.73
96
0.0
Tokyo Tekko Co. Ltd. [5445]
3
42.63
111
0.0
Ultrapar Participacoes S.A. [UGPA3]
48
2.83
136
0.0
Usinas Siderurgicas de Minas Gerais SA-Usiminas Pfd A [USIM5]
130
0.94
122
0.0
Wendel SE [MF]
1
96.25
100
0.0
Yangzijiang Shipbuilding (Holdings) Ltd. [BS6]
52
2.25
118
0.0
ZACROS Corporation [7917]
4
25.77
108
0.0
Zhihu Inc. Sponsored ADR [ZH]
31
3.49
108
0.0
11 Bit Studios SA [11B]
2
47.85
100
0.0
Awa Bank Ltd. [8388]
6
18.31
104
0.0
Axial Retailing Inc. [8255]
18
5.76
101
0.0
Breedon Group PLC [BREE]
13
5.58
74
0.0
Chiyoda Integre Co. Ltd. [6915]
6
18.84
106
0.0
Colruyt Group N.V. [COLR]
2
37.53
63
0.0
Emaar Development PJSC [EMAARDEV]
27
3.58
98
0.0
Eurazeo SE [RF]
1
82.80
81
0.0
Fukuda Denshi Co. Ltd. [6960]
2
43.46
96
0.0
Glory Ltd. [6457]
6
17.08
97
0.0
Heidelberger Druckmaschinen AG [HDD]
74
1.26
94
0.0
Ipsen SA [IPN]
1
123.91
90
0.0
Keyence Corporation [6861]
0
434.29
87
0.0
Kokuyo Co. Ltd. [7984]
5
17.44
85
0.0
LBS Bina Group Bhd. [5789]
688
0.12
84
0.0
Makita Corporation [6586]
3
29.82
92
0.0
ME Group International plc [MEGP]
31
2.57
79
0.0
Mitsubishi Shokuhin Co. Ltd. [7451]
3
32.22
84
0.0
Next 15 Group plc [NFG]
19
4.21
81
0.0
Nippon Telegraph and Telephone Corporation [9432]
94
0.99
93
0.0
OPTORUN CO.LTD. [6235]
8
11.75
98
0.0
PT Baramulti Suksessarana Tbk [BSSR]
379
0.26
100
0.0
Sankyo Co. Ltd. [6417]
8
13.49
101
0.0
SEIKO GROUP CORPORATION [8050]
2
31.15
72
0.0
SIGMAXYZ Holdings Inc [6088]
11
5.97
63
0.0
Text S.A. [TXT]
6
14.30
82
0.0
Titan Cement International N.V. [TITC]
2
41.32
72
0.0
Toshiba Tec Corp. [6588]
4
22.05
88
0.0
VSTECS Holdings Limited [856]
130
0.61
79
0.0
Webuild SpA [WBD]
28
2.95
81
0.0
Advanced Information Technology Public Co. Ltd. NVDR [AIT.R]
363
0.13
47
0.0
AEON Delight Co. Ltd. [9787]
3
26.41
69
0.0
AF Gruppen ASA Class A [AFG]
4
14.19
59
0.0
Amerigo Resources Ltd [ARG]
55
1.15
62
0.0
Ateam Inc. [3662]
8
6.34
50
0.0
Betsson AB Class B [BETS.B]
5
13.70
62
0.0
Bloomsbury Publishing Plc [BMY]
5
8.44
41
0.0
Centerra Gold Inc. [CG]
12
6.28
74
0.0
Channel Infrastructure NZ Limited [CHI]
49
1.08
53
0.0
China Aviation Oil (Singapore) Corporation Ltd [G92]
75
0.66
50
0.0
Commercial Bank of Dubai(PSC) [CBD]
32
2.10
68
0.0
Compagnie Financiere Tradition SA [CFT]
0
213.09
68
0.0
Core Corporation [2359]
4
12.14
51
0.0
DEVSISTERS CORP. [194480]
3
20.10
61
0.0
Digital Arts Inc. [2326]
1
38.43
42
0.0
en Japan Inc. [4849]
5
12.99
69
0.0
EVS Broadcast Equipment SA [EVS]
2
32.59
56
0.0
Faisal Islamic Bank of Egypt [FAITA]
53
1.09
58
0.0
Firm Capital Mortgage Investment Corporation [FC]
5
8.30
45
0.0
Flow Traders Ltd [FLOW]
2
25.12
56
0.0
Fuji Corporation [7605]
4
12.68
55
0.0
Furuno Electric Co. Ltd. [6814]
3
17.08
51
0.0
Ginebra San Miguel Inc. [GSMI]
15
4.67
68
0.0
GL Events SA [GLO]
3
19.75
54
0.0
Global Ship Lease Inc. Class A [GSL]
2
21.83
47
0.0
Guerbet SA [GBT]
2
28.43
68
0.0
Hap Seng Plantations Holdings Bhd. [5138]
112
0.43
48
0.0
High Liner Foods Incorporated [HLF]
7
11.05
73
0.0
Horizon Oil Limited [HZN]
507
0.13
65
0.0
Humana AB [HUM]
20
3.27
65
0.0
Humm Group Limited [HUM]
202
0.37
74
0.0
Hunting PLC [HTG]
14
3.62
49
0.0
ISB CORPORATION [9702]
5
8.63
47
0.0
IwaiCosmo Holdings Inc. [8707]
4
16.09
66
0.0
Jaguar Mining Inc. [JAG]
30
1.77
53
0.0
Japan Lifeline Co. Ltd. [7575]
5
9.21
48
0.0
Kaufman & Broad SA [KOF]
1
34.51
50
0.0
Knight Therapeutics Inc. [GUD]
15
3.83
58
0.0
Konishi Co. Ltd. [4956]
5
8.32
43
0.0
KurimotoLtd. [5602]
2
27.81
47
0.0
Kyodo Printing Co. Ltd. [7914]
2
27.61
50
0.0
Lintec Corporation [7966]
2
19.50
45
0.0
Marco Polo Marine Ltd. [5LY]
1,229
0.04
50
0.0
MEITEC Group Holdings Inc. [9744]
2
19.48
47
0.0
Mimaki Engineering Co. Ltd. [6638]
5
10.51
54
0.0
Morgan Sindall Group plc [MGNS]
1
48.84
44
0.0
NORMA Group SE [NOEJ]
4
15.47
54
0.0
Orsero SpA [ORS]
4
12.91
46
0.0
PCA Corporation [9629]
4
12.69
52
0.0
PERSOL HOLDINGS CO. LTD. [2181]
33
1.53
50
0.0
RADCOM Ltd. [RDCM]
6
12.83
76
0.0
Resolute Mining Limited [RSG]
169
0.24
41
0.0
Riken Technos Corporation [4220]
7
6.62
47
0.0
Sarawak Plantation Bhd. [5135]
99
0.53
52
0.0
Semirara Mining & Power Corp. [SCC]
114
0.59
68
0.0
SMK Corporation [6798]
3
18.30
49
0.0
SPACE CO. LTD. [9622]
9
7.21
61
0.0
Super Hi International Holding Ltd. [9658]
18
2.83
51
0.0
TAKARA & COMPANY LTD [7921]
3
20.15
50
0.0
TechMatrix Corporation [3762]
3
15.09
50
0.0
Ten Square Games SA [TEN]
3
19.32
53
0.0
Tokyo Seimitsu Co. Ltd [7729]
2
48.10
72
0.0
Towa Bank Ltd. [8558]
11
4.34
48
0.0
Vital KSK Holdings Inc. [3151]
9
7.66
70
0.0
Westaim Corporation [WED]
2
21.57
42
0.0
Zinzino AB Class B [ZZ.B]
6
7.66
44
0.0
A.B.P. Nocivelli S.p.A. [ABP]
4
5.25
21
0.0
AC Immune SA [ACIU]
9
2.75
26
0.0
Air New Zealand Limited [AIR]
96
0.36
34
0.0
AIT Corporation [9381]
3
10.93
28
0.0
Alphapolis Co. Ltd. [9467]
4
6.69
24
0.0
Alpha Systems Inc. [4719]
1
22.73
30
0.0
Altron Limited Class A [AEL]
21
1.15
25
0.0
Analogue Holdings Limited [1977]
293
0.11
32
0.0
Argo Graphics Inc. [7595]
1
31.87
35
0.0
Autocount Dotcom Bhd [0276]
120
0.27
32
0.0
BTS Rail Mass Transit Growth Infrastructure Fund(Alien Mkt) [BTSGIF.F]
342
0.09
30
0.0
Burkhalter Holding AG [BRKN]
0
100.41
31
0.0
Business Brain Showaota Inc. [9658]
1
13.98
20
0.0
Career Design Center Co. Ltd. [2410]
2
11.70
19
0.0
CCK Consolidated Holdings Bhd. [7035]
78
0.31
24
0.0
Cedar Woods Properties Limited [CWP]
9
3.36
30
0.0
China Starch Holdings Limited [3838]
1,500
0.03
38
0.0
Civmec Limited [P9D]
30
0.81
24
0.0
Costain Group PLC [COST]
18
1.18
21
0.0
CREEK & RIVER Co. Ltd. [4763]
2
10.77
19
0.0
Daiichi Cutter Kogyo K.K. [1716]
5
8.63
43
0.0
Daitron Co. Ltd. [7609]
2
17.37
40
0.0
Dingdong (Cayman) Ltd. Sponsored ADR Class A [DDL]
12
3.40
41
0.0
Einhell Germany AG Pref [EIN]
0
65.91
30
0.0
Formosa Prosonic Industries Bhd. [9172]
50
0.62
31
0.0
FreeBit Co. Ltd. [3843]
3
8.67
23
0.0
Futaba Corp. [6986]
7
3.14
21
0.0
Future Corporation [4722]
2
11.76
27
0.0
GECOSS Corporation [9991]
3
6.59
19
0.0
GenusPlus Group Ltd. [GNP]
20
1.67
33
0.0
GMO GlobalSign Holdings K.K. [3788]
2
16.03
24
0.0
GSK plc [GSK]
1
17.46
24
0.0
HAL Trust [HAL]
0
124.54
36
0.0
Hodogaya Chemical Co. Ltd. [4112]
1
24.56
20
0.0
Hoegh Autoliners ASA [HAUTO]
2
9.97
24
0.0
Horiba Ltd. [6856]
0
63.18
19
0.0
Ichikoh IndustriesLtd. [7244]
9
2.62
23
0.0
ID Holdings Corporation [4709]
3
11.39
30
0.0
IGG Inc. [799]
46
0.52
24
0.0
Islamic Arab Insurance Co. (Salama) [SALAMA]
341
0.12
41
0.0
JAC Recruitment Co. Ltd. [2124]
4
4.42
19
0.0
Japan Medical Dynamic Marketing Inc. [7600]
5
4.02
19
0.0
Johnson Electric Holdings Limited [179]
28
1.32
37
0.0
Johnson Service Group PLC [JSG]
17
1.70
29
0.0
Kaga Electronics Co. Ltd. [8154]
2
18.00
36
0.0
Kanaden Corporation [8081]
2
9.58
21
0.0
kaonavi Inc. [4435]
2
13.15
29
0.0
Kawan Food Bhd. [7216]
59
0.35
21
0.0
KENKO Mayonnaise Co. Ltd. [2915]
2
11.66
19
0.0
Koatsu Gas Kogyo Co. Ltd. [4097]
5
5.40
25
0.0
KPX Chemical Co. Ltd. [025000]
0
29.79
15
0.0
Kri-Kri Milk Industry SA [KRI]
2
16.68
33
0.0
KX Innovation Co. Ltd. [122450]
11
1.99
22
0.0
Lagardere SA [MMB]
1
20.84
17
0.0
Lubelski Wegiel BOGDANKA SA [LWB]
4
5.66
20
0.0
Macmahon Holdings Limited [MAH]
178
0.22
39
0.0
Maezawa Industries Inc. [6489]
4
8.07
30
0.0
Major Cineplex Group Public Co. Ltd. NVDR [MAJOR.R]
86
0.42
36
0.0
Matching Service Japan Co.Ltd. [6539]
3
7.01
18
0.0
Materialise NV Sponsored ADR [MTLS]
5
8.38
39
0.0
Mears Group PLC [MER]
9
4.40
39
0.0
Medical System Network Co. Ltd. [4350]
7
2.60
19
0.0
Megachips Corporation [6875]
1
37.84
45
0.0
MegaStudy Co. Ltd. [072870]
3
7.34
20
0.0
Meiji Electric Industries Co. Ltd. [3388]
2
9.16
20
0.0
MKH Oil Palm (East Kalimantan) Bhd [5319]
191
0.14
27
0.0
Moresco Corporation [5018]
2
8.74
17
0.0
Nexxen International Ltd. Sponsored ADR [NEXN]
4
9.58
37
0.0
Nihon Denkei Co. Ltd. [9908]
3
12.08
33
0.0
Nihon Parkerizing Co. Ltd. [4095]
4
8.30
35
0.0
Nippon Carbide Industries CompanyIncorporated [4064]
2
11.55
25
0.0
Nippon Thompson Co. Ltd. [6480]
9
3.31
29
0.0
Nitto Kohki Co. Ltd. [6151]
2
15.12
33
0.0
Okabe Co. Ltd. [5959]
4
4.76
21
0.0
One Enterprise Public Co. Ltd. NVDR [ONEE.R]
258
0.10
27
0.0
ORO Co. Ltd. [3983]
2
16.29
24
0.0
Osaki Electric Co. Ltd. [6644]
4
4.86
18
0.0
Pacific Century Regional Developments Ltd [P15]
96
0.25
24
0.0
Perenti Limited [PRN]
36
0.87
31
0.0
Petron Corp. [PCOR]
547
0.04
22
0.0
Pico Far East Holdings Limited [752]
158
0.27
43
0.0
Poh Kong Holdings Bhd. [5080]
121
0.23
28
0.0
Prestige International Inc. [4290]
6
4.53
27
0.0
PT Champ Resto Indonesia Tbk [ENAK]
400
0.04
18
0.0
PT Resource Alam Indonesia Tbk [KKGI]
902
0.03
25
0.0
PT TBS Energi Utama Tbk [TOBA]
1,305
0.02
30
0.0
Qilu Expressway Co. Ltd. Class H [1576]
74
0.31
23
0.0
Rheon Automatic Machinery Co. Ltd. [6272]
3
9.51
24
0.0
Riken Vitamin Co. Ltd. [4526]
1
15.24
21
0.0
SATO HOLDINGS Corporation [6287]
2
14.27
27
0.0
S&B Foods Inc. [2805]
1
33.47
30
0.0
SCGJWD Logistics Public Company Limited NVDR [SJWD.R]
115
0.25
29
0.0
Secure Waste Infrastructure Corp. [SES]
2
10.37
23
0.0
Seikagaku Corporation [4548]
6
5.13
29
0.0
Service Stream Limited [SSM]
19
0.97
19
0.0
Shikoku Bank Ltd. [8387]
3
7.89
27
0.0
Sigma Koki Co. Ltd. [7713]
2
9.02
19
0.0
SKY Network Television Ltd [SKT]
16
1.58
26
0.0
SKY Perfect JSAT Holdings Inc. [9412]
4
6.04
25
0.0
Smiths News PLC [SNWS]
53
0.76
40
0.0
SMS Co. Ltd. [2175]
2
10.78
26
0.0
Sodick Co. Ltd. [6143]
5
5.35
25
0.0
Somboon Advance Technology Public Co. Ltd. NVDR [SAT.R]
112
0.32
35
0.0
Sprocomm Intelligence Limited [1401]
138
0.20
28
0.0
SThree plc [STEM]
3
3.71
13
0.0
Sugimoto & Co. Ltd. [9932]
3
8.55
21
0.0
Sun-Wa Technos Corporation [8137]
2
14.70
29
0.0
Topy Industries Limited [7231]
2
13.43
30
0.0
TOYA S.A. [TOA]
9
1.77
16
0.0
Toyo Engineering Corporation [6330]
5
4.67
25
0.0
Tsubakimoto Kogyo Co. Ltd. [8052]
2
13.18
20
0.0
Ubicom Holdings. Inc. [3937]
4
8.71
37
0.0
Vetoquinol SA [VETO]
0
73.81
20
0.0
Wacom Co. Ltd. [6727]
6
4.34
26
0.0
WARABEYA NICHIYO HOLDINGS Co. Ltd. [2918]
1
12.92
13
0.0
WingArc1st Inc. [4432]
1
22.22
31
0.0
YAMADA Consulting Group Co. Ltd. [4792]
2
12.27
20
0.0
Yossix Holdings Co.Ltd. [3221]
1
20.65
23
0.0
Zuken Inc. [6947]
1
31.68
22
0.0
Achilles Corporation [5142]
0
9.45
1
0.0
AJIS Co. Ltd. [4659]
1
14.99
12
0.0
Almogim Holdings Ltd [ALMA]
1
2.86
3
0.0
Ascom Holding AG [ASCN]
0
3.80
1
0.0
Boryszew S.A. [BRS]
4
1.31
5
0.0
Boustead Singapore Limited [F9D]
13
0.75
10
0.0
BRC Asia Limited [BEC]
0
2.17
1
0.0
Castro Model Ltd. [CAST]
0
30.56
13
0.0
Concentradora Fibra Danhos SA de CV [DANHOS13]
11
1.03
12
0.0
Danaos Corporation [DAC]
0
79.23
4
0.0
Dom Development S.A. [DOM]
0
52.53
0
0.0
Eurocell Plc [ECEL]
8
1.80
15
0.0
Ever Reach Group Holdings Co. Ltd. [3616]
117
0.00
0
0.0
Exail Technologies SA [EXA]
0
20.27
1
0.0
EXEL Industries SA [EXE]
0
46.16
5
0.0
Fiducian Group Ltd [FID]
2
5.65
12
0.0
Fursys Inc. [016800]
0
28.42
10
0.0
IMC S.A. [IMC]
0
4.39
2
0.0
Kyowa Leather Cloth Co. Ltd. [3553]
3
4.52
13
0.0
Ladprao General Hospital Public Company Ltd NVDR [LPH.R]
60
0.13
8
0.0
Lassonde Industries Inc. Class A [LAS.A]
0
125.72
13
0.0
MAEIL HOLDINGS CO. LTD. [005990]
1
5.96
3
0.0
Magyar Telekom Telecommunications Plc Sponsored ADR [MYTAY]
1
17.67
11
0.0
Melcor Developments Ltd. [MRD]
1
8.82
9
0.0
Modern Land (China) Co. Ltd. [1107]
13
0.00
0
0.0
Nanyo Corp. [7417]
2
7.41
12
0.0
Naturhouse Health SA [NTH]
7
1.78
12
0.0
Nedap N.V [NEDAP]
0
61.75
5
0.0
New Times Corporation Limited [166]
153
0.01
1
0.0
Nice Corporation [8089]
1
9.29
8
0.0
NTT Data Intramart Corporation [3850]
1
16.11
10
0.0
NZME Limited [NZM]
1
0.61
0
0.0
Oriola Corp Class A [OKDAV]
6
1.01
6
0.0
Oriola Corp Class B [OKDBV]
1
0.98
1
0.0
Orion Oyj Class A [ORNAV]
0
53.64
4
0.0
PageGroup PLC [PAGE]
1
4.07
4
0.0
PALFINGER AG [PAL]
0
23.70
9
0.0
Paramount Resources Ltd. Class A [POU]
1
19.87
14
0.0
Parker Corporation [9845]
2
5.35
12
0.0
Proact IT Group AB [PACT]
1
10.81
6
0.0
Pro-Pac Packaging Ltd [PPG]
6
0.01
0
0.0
PropNex Ltd. [OYY]
2
0.81
2
0.0
Proto Corp. [4298]
0
8.08
1
0.0
PSC Corporation Ltd [DM0]
39
0.25
10
0.0
PT Jaya Bersama Indo [DUCK]
83
NaN
0
0.0
Sekisui Kasei Co. Ltd. [4228]
6
2.28
13
0.0
Shanghai Chicmax Cosmetics Co. Ltd. Class H [2145]
1
4.61
6
0.0
Soken Chemical & Engineering Co. Ltd. [4972]
1
22.54
14
0.0
Soliton Systems K.K. [3040]
2
7.45
13
0.0
Tatton Asset Management Plc [TAM]
1
8.20
10
0.0
Thantawan Industry PCL NVDR [THIP.R]
10
0.78
8
0.0
Titanium Oyj [TITAN]
1
8.30
7
0.0
Tree Island Steel Ltd. [TSL]
0
2.05
0
0.0
Xingye Alloy Materials Group Limited [505]
51
0.13
7
0.0
Zen Corporation Group Public Company Limited NVDR [ZEN.R]
62
0.20
12
0.0
Total
--
--
--
304,210
96.3
Cash and Other Assets Less Liabilities
--
--
--
--
3.7
Total Net Assets
--
--
--
--
100%
Sector Allocations
As of 12/31/2024
International Core Fund (HAOSX)
MSCI EAFE (ND) Index
-
Financials
HAOSX: 24.1%
Benchmark: 22.3%
-
Information Technology
HAOSX: 17.0%
Benchmark: 8.9%
-
Industrials
HAOSX: 16.5%
Benchmark: 17.6%
-
Health Care
HAOSX: 12.7%
Benchmark: 12.7%
-
Consumer Discretionary
HAOSX: 11.3%
Benchmark: 11.3%
-
Communication Services
HAOSX: 7.8%
Benchmark: 4.9%
-
Materials
HAOSX: 4.1%
Benchmark: 6.0%
-
Cash
HAOSX: 3.0%
Benchmark: NaN%
-
Energy
HAOSX: 2.6%
Benchmark: 3.5%
-
Consumer Staples
HAOSX: 1.8%
Benchmark: 7.9%
-
Real Estate
HAOSX: 1.1%
Benchmark: 2.0%
-
Utilities
HAOSX: 1.1%
Benchmark: 3.1%
HAOSX: International Core Fund
Benchmark: MSCI EAFE (ND) Index
Sector Returns
As of 12/31/2024
Economic Sector
International Core Fund %
MSCI EAFE (ND) Index %
Utilities
0.4
-12.8
Information Technology
-0.6
-7.2
Communication Services
-1.4
-4.7
Financials
-1.6
-2.3
Consumer Discretionary
-2.2
-4.3
Industrials
-2.6
-6.4
Energy
-8.3
-8.3
Consumer Staples
-10.2
-12.7
Health Care
-10.9
-14.1
Real Estate
-12.0
-13.4
Materials
-16.9
-17.8
Top 10 Countries
As of 12/31/2024
Country
International Core Fund %
MSCI EAFE (ND) Index %
Japan
19.0
22.5
Switzerland
12.3
9.8
United Kingdom
9.8
14.9
Germany
8.6
9.7
France
6.9
11.4
Australia
5.6
7.3
Sweden
5.2
3.7
Netherlands
5.0
4.6
Denmark
3.5
2.7
Israel
3.1
1.0
Other
21.0
12.4
Investment Team
Acadian Asset Management LLC is a global, quantitative investment manager. Acadian was founded in 1986 and is headquartered in Boston, with affiliates in Singapore, Sydney, Tokyo, and London. The firm was among the first managers to apply data and technology to the systematic evaluation of global investments over 30 years ago, and today Acadian’s proprietary database covers over 40,000 securities in more than 150 markets worldwide. Acadian’s mission is to be its clients’ most valued resource for investment insight and success, and the firm puts to use decades of global risk and return data, forecasts, factor behavior, transaction costs, risk analysis, and portfolio construction tools in service of this mission.
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Important Information
From time to time, certain fees and/or expenses have been voluntarily or contractually waived or reimbursed, which has resulted in higher returns. Without these waivers or reimbursements, the returns would have been lower. Voluntary waivers or reimbursements may be applied or discontinued at any time without notice. Only the Board of Trustees may modify or terminate contractual fee waivers or expense reimbursements.
As a result of changing market conditions, total net asset levels, expenses and other factors may change at any time during the current fiscal period and may differ from those shown.
There is no guarantee that the investment objective of the Fund will be achieved. Stock markets are volatile and equity values can decline significantly in response to adverse issuer, political, regulatory, market and economic conditions. Investing in international and emerging markets poses special risks, including potentially greater price volatility due to social, political and economic factors, as well as currency exchange rate fluctuations. These risks are more severe for securities of issuers in emerging market regions. The value of securities selected using quantitative analysis can react differently to issuer, political, market, and economic developments than the market as a whole or securities selected using only fundamental analysis. The factors used in quantitative analysis and the weight placed on those factors may not be predictive of a security's value. In addition, any model may contain flaws or the model may not perform as anticipated.
Weighted Average Market Capitalization: The average size of the companies in a portfolio or index as measured by the market value of outstanding shares.
Price/Book: The price-to-book (P/B) ratio evaluates a firm's market value relative to its book value.
Adjusted Trailing P/E Ratio: The Adjusted Trailing P/E (Price/Earnings) Ratio is the closing stock price divided by the sum of the last 12 months actual EPS.
% EPS Growth – Past 3 year: Earnings per share refers to the bottom-line measure of a company’s profitability defined as net income divided by the number of outstanding shares.
Return on Equity: Return on equity (ROE) is a measure of financial performance calculated by dividing net income by shareholders' equity.
Forecasted P/E Ratio: a measure of the P/E (price-to-earnings) ratio using forecasted earnings for the P/E calculation.
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