HUMAN Index Methodology, version 1.0

Effective date Oct 25, 2026. Published by HUMAN Index Partners, LLC. The canonical text is METHODOLOGY.md in the repository; this page follows it section by section.

1. Purpose and scope

The HUMAN Index (display symbol $HMN) is a rule-based, fixed-weight stock index measuring the price performance of a basket of seven U.S.-listed public companies selected under a “human-first” screening criterion. This document defines the composition, calculation, rebalancing, data sources, classification and governance of the index.

The HUMAN Index is an informational research benchmark. It is not an investment vehicle, a security, a fund, or a product of any exchange, and it is not registered with the U.S. Securities and Exchange Commission. No constituent company sponsors, endorses, or is affiliated with the HUMAN Index.

2. Index composition

The index consists of the following seven constituents with fixed target weights. Weights total 100% and do not drift at rebalancing.

3. Base date and base value

Base date: Sep 30, 2026. Base value: 100.0000.

Base prices are the split-adjusted official closing prices on the base date as recorded in the committed price files:

4. Calculation methodology

The index is a price-return index: dividends and distributions are not included. Within a rebalancing period r the index value at trading day t is

HMN(t) = L(r) × Σ_i  w_i × P_i(t) / P_i(b_r)

where w_i is the fixed target weight of constituent i, P_i(t) its split-adjusted official closing price, b_r the first day of the period (the base date for the first period, otherwise the previous rebalancing date) and L(r) the index level on b_r, which is 100.0000 on the base date. Between rebalancing dates the effective weights therefore drift with prices; at each rebalancing date they return to target and the index is chain-linked so that its level is continuous.

The index is computed once per trading day after the U.S. market close and published together with the per-constituent closing prices. Values are rounded to four decimals for publication; the engine keeps six.

Unavailable data. If any constituent has no official close for a trading day, the index value for that day is reported as unavailable and is never estimated, interpolated or carried forward. The affected tickers are listed on the data page.

5. Rebalancing and reviews

Target weights are fixed. The index is rebalanced to target weights at the close of the last trading day of each calendar quarter (March, June, September, December). Constituent reviews under Section 7 are conducted on the same schedule. Extraordinary rebalancing happens only on corporate or replacement events as defined in Section 8.

6. Human-first screening and classification

Constituents are nominated for documented practices that keep human work central: published policies restricting generative AI in creative products, collective agreements limiting automation, SEC-filed workforce commitments, or consistent on-record statements by management. Nomination is not an endorsement, and the index never describes a company as “anti-AI”.

Each constituent carries one of four evidence classifications, assigned only from sources that were fetched and checked at the stated review date:

• Policy A written, company-authored policy committing to human creative work or to not replacing employees with AI exists and was verified at the source.
• Statements Executives have repeatedly stated a human-first position on the record, but no written policy was found. Statements are not commitments.
• Mixed Verified evidence exists on both sides: documented human-first practices or policies next to documented AI or automation adoption that cuts the other way.
• No evidence No verifiable statement or policy was found in either direction. The company stays listed as nominated, not as screened.

Every evidence item is published with its date, URL, source type (primary or press), a neutral summary, a verbatim quote and a direction (supports, cuts the other way, context). Contrary evidence is listed with the same prominence as supporting evidence. Classifications can be challenged through a GitHub issue; changes are recorded in the company's evidence file with a new review date.

7. Data sources

Primary source: official closing prices as published by the primary listing exchange of each constituent (NYSE, Nasdaq). Convenience source for daily publication: end-of-day data from the provider named in each committed price file (currently yahoo). In case of discrepancy the official exchange close prevails and the published value is restated. Benchmark series for NVDA and SPY are taken from the same provider and rebased to 100 on the base date; they are shown for context only.

Each price file records provider, request URL, fetch time, licence note and a SHA-256 digest. Operators who publish the index must hold a data licence that permits redistribution; the repository documents how to switch providers.

8. Corporate events and replacement

Stock splits and reverse splits are handled through split-adjusted price histories, so the index level is continuous across the event. Spin-offs and special distributions are treated like dividends (excluded) unless the committee decides otherwise and documents the decision. If a constituent is delisted, acquired, or ceases to meet the screening criterion, it is replaced at the next scheduled review by the highest-market-capitalisation eligible nominee; the replacement takes the departing constituent's target weight and the index is chain-linked on the effective date.

9. Governance and versioning

This document is versioned. Version 1.0 is effective Oct 25, 2026. Changes require a new version number, a changelog entry in METHODOLOGY.md and a new release of the engine. The integrity of each version is anchored by its SHA-256 digest (9d08e260077411908521f97ddffde59c37eff78bcc4c9129f03beb6980b2c8e9, 7999 bytes); the digest is reproduced by npm run verify.

10. Disclaimers

The HUMAN Index is provided for informational purposes only and does not constitute investment advice, an offer, or a solicitation. Past index performance does not guarantee future results. HUMAN Index Partners, LLC makes no representation regarding the suitability of the index for any purpose, and accepts no liability for errors in third-party price data or in the evidence files.

11. Contact

HUMAN Index Partners, LLC, 1209 Orange Street, Wilmington, DE 19801, edgar@humanindex.io.

Version history