Harbor Target Retirement 2040 Fund Administrative Class (HARZX)

NOT AVAILABLE FOR DIRECT INVESTORS OR INTERMEDIARIES

Portfolio Characteristics (As of Month Ended 10/31/2014)

 Target Retirement 2040 Fund Value
Number of Underlying Funds14

Actual Allocations (As of Month Ended 10/31/2014)

As of Month Ended 10/31/2014
As of Month Ended 10/31/2014
Harbor Fund% of Market Value
Equity
Capital Appreciation Fund9.1%
Mid Cap Growth Fund4.7%
Small Cap Growth Fund4.2%
Large Cap Value Fund10.7%
Mid Cap Value Fund7.0%
Small Cap Value Fund5.2%
International Fund17.1%
International Growth Fund9.3%
Global Growth Fund3.8%
Fixed Income
Unconstrained Bond Fund2.5%
High-Yield Bond Fund8.8%
Bond Fund12.7%
Real Return Fund1.1%
Commodities
Commodity Real Return Strategy Fund3.8%

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.