Harbor Target Retirement 2020 Fund Administrative Class (HARKX)

Portfolio Characteristics (As of Month Ended 07/31/2014)

 Target Retirement 2020 Fund Value
Number of Underlying Funds14

Actual Allocations (As of Month Ended 07/31/2014)

As of Month Ended 07/31/2014
As of Month Ended 07/31/2014
Harbor Fund% of Market Value
Equity
Capital Appreciation Fund4.4%
Mid Cap Growth Fund2.3%
Small Cap Growth Fund2.0%
Large Cap Value Fund5.2%
Mid Cap Value Fund3.4%
Small Cap Value Fund2.5%
International Fund8.5%
International Growth Fund4.6%
Global Growth Fund1.9%
Fixed Income
Unconstrained Bond Fund6.2%
High-Yield Bond Fund15.7%
Bond Fund31.6%
Real Return Fund8.6%
Commodities
Commodity Real Return Strategy Fund3.0%

The Harbor Target Retirement Income Fund is designed for investors currently in retirement, and its investments are expected to remain stable over time. The other Harbor Target Retirement Funds are designed for investors who plan to retire close to the year indicated in the Funds' names. These Funds' asset allocations will change over time and become more conservative as time elapses. The principal value of the Funds is not guaranteed at any time, including the target retirement date.