Harbor Capital announces Harbor Transformative Technologies ETF (TEC)

Harbor Capital Advisors, Inc. ("Harbor"), an asset manager that curates a suite of actively managed ETFs, mutual funds, and collective investment trusts, is excited to announce that the firm is adding the Harbor Transformative Technologies ETF (TEC) to its growing lineup of ETF offerings, extending the firm’s partnership of over 50 years with Jennison Associates.

TEC is managed by an expert investing team at Jennison Associates, a firm that draws upon over a half-century of expertise in growth equity investing. Jennison’s wide and direct access to the technology industry allows the team to stay at the forefront of innovation over time. The team seeks to find today’s $5 billion companies that could one day become $20 billion companies, and $30 billion companies that could one day become $100 billion companies, as well as innovative companies at the top of the market cap spectrum.

Gain Access to Companies Changing the World

TEC has the flexibility to invest across industries as well as the market cap spectrum. TEC will seek to hold 35–60 stocks, with up to 20% of the companies based outside the United States. TEC will be benchmarked against the Nasdaq-100 Index, which contains the 100 largest non-financial companies listed on the Nasdaq exchange.

“Don’t let the current noise in the system distract you. Tech continues to be all around us, and there are more disruptions and investments taking place every day,” said Kristof Gleich, President & CIO at Harbor, “And while TEC focuses on transformative technologies, its exposure expands beyond information technology. The team will invest across industries as the opportunity landscape evolves—I am personally very excited about some of the healthcare transformation we’re likely to see in the next decade. We believe all holdings are actively driving disruptive change by offering, using, or developing products, processes, or services that seek to provide or benefit from technological advances and improvements. I’m blown away by the potential!”

Jennison’s bottom-up, fundamental research approach seeks to identify companies where technology has become a transformative means to target new markets or expand opportunities within existing markets. To this end, themes with unique growth drivers may emerge in the Fund, such as AI-augmented cloud computing, AI-driven semiconductor development, cybersecurity, and other growing areas using technology to revolutionize industries (e.g., fintech and healthcare).

TEC may be appropriate to serve as a satellite portfolio and the ETF could become a core U.S. equity holding for growth-oriented investors. TEC has a total expense ratio of 69 basis points.

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