News & Commentary

Fund Manager Commentary
Harbor Capital Appreciation Fund
  • Jennison Associates LLC - 2nd Quarter, 2014
  • Large cap growth stocks up in Q2; all sectors gained
  • Stocks of large U.S. companies posted solid results for the second quarter of 2014.
Harbor Mid Cap Growth Fund
  • Wellington Management Company, LLP - 2nd Quarter, 2014
  • Mid cap growth stocks post Q2 advance with all sectors moving higher
  • U.S. equities continued to gain ground in the second quarter of 2014.
Harbor Small Cap Growth Fund
  • Westfield Capital Management Company, L.P. - 2nd Quarter, 2014
  • Small cap growth stocks record modest gain for Q2
  • U.S. equities advanced in the second quarter of 2014, with shares of smaller companies lagging behind large cap and mid cap stocks.
Harbor Small Cap Growth Opportunities Fund
  • Elk Creek Partners, LLC - 2nd Quarter, 2014
  • Small cap shares edged higher in Q2, led by Energy and Utilities shares
  • Shares of smaller U.S. companies moved higher in the second quarter of 2014, albeit at a slower pace than that of their large cap counterparts.
Harbor Large Cap Value Fund
  • Aristotle Capital Management, LLC - 2nd Quarter, 2014
  • Large cap value stocks advanced in Q2, led by by Tech and Energy names
  • Stocks of larger U.S. companies recorded a solid advance in the second quarter of 2014.
Harbor Mid Cap Value Fund
  • LSV Asset Management - 2nd Quarter, 2014
  • Mid cap value stocks recorded solid advance in Q2, led by Energy and Utilities
  • U.S. equities posted positive returns for the second quarter of 2014, with large cap and mid cap stocks generally outperforming shares of smaller companies.
Harbor Small Cap Value Fund
  • EARNEST Partners LLC - 2nd Quarter, 2014
  • Small cap value stocks post Q2 advance, led by Utilities and Energy
  • Shares of smaller U.S. companies moved higher in the second quarter of 2014. Small cap value stocks returned 2.38% for the quarter, as measured by the Russell 2000® Value Index.
Harbor International Fund
  • Northern Cross, LLC - 2nd Quarter, 2014
  • Foreign shares moved higher in Q2, led by Energy and Utilities
  • International stocks advanced in the second quarter of 2014, as the MSCI EAFE (ND) Index recorded a return of 4.09%.
Harbor International Growth Fund
  • Baillie Gifford Overseas Limited - 2nd Quarter, 2014
  • Foreign stocks post solid gains for Q2
  • International equities recorded solid gains for the second quarter of 2014.
Harbor Global Growth Fund
  • Marsico Capital Management, LLC - 2nd Quarter, 2014
  • Global stocks moved higher in Q2, led by Energy names
  • Global equity markets generated solid gains for the second quarter of 2014.
Harbor Emerging Markets Equity Fund
  • Oaktree Capital Management, L.P. - 2nd Quarter, 2014
  • Emerging markets equities stage Q2 rebound, outpace developed country stocks
  • Shares of companies based in emerging markets turned in a strong performance in the second quarter of 2014, not only rebounding from a negative territory in the prior quarter but also outperforming their counterparts in developed countries.
Harbor Commodity Real Return Strategy Fund
  • Pacific Investment Management Company LLC - 2nd Quarter, 2014
  • Commodities post mostly flat returns in Q2 after strong first quarter
  • After solid gains in the first three months of 2014, commodity prices were only fractionally higher in the second quarter.
Harbor Unconstrained Bond Fund
  • Pacific Investment Management Company LLC - 2nd Quarter, 2014
  • Bonds gain ground amid improved investment climate
  • Fixed income investments delivered positive returns for the second quarter of 2014.
Harbor Convertible Securities Fund
  • Shenkman Capital Management, Inc. - 2nd Quarter, 2014
  • Convertibles outpace bonds, post competitive returns with equities in Q2
  • Convertible bonds continued their strong performance in 2014, posting returns of 5.08% for the second quarter and 9.70% for the six months ended June 30, 2014, as measured by the BofA Merrill Lynch All US Convertibles Index.
Harbor Emerging Markets Debt Fund
  • Stone Harbor Investment Partners LP - 2nd Quarter, 2014
  • EM debt markets advance in Q2, outpacing investment-grade issues
  • Emerging markets debt securities posted solid gains in the second quarter of 2014, outperforming both investment-grade and high-yield bonds in the bonds from developing economies, returning 4.40%...
Harbor High-Yield Bond Fund
  • Shenkman Capital Management, Inc. - 2nd Quarter, 2014
  • High yield market extends gains in Q2
  • Building on a solid performance in the first quarter, high yield bonds gained further ground in the three months ended June 30, 2014.
Harbor Bond Fund
  • Pacific Investment Management Company LLC - 2nd Quarter, 2014
  • Harbor Bond outpaces index in Q2
  • Harbor Bond Fund posted a return of 2.26% for the second quarter of 2014, outperforming its benchmark, the Barclays U.S. Aggregate Bond Index, by 22 basis points, or 0.22 percentage points.
Harbor Real Return Fund
  • Pacific Investment Management Company LLC - 2nd Quarter, 2014
  • Harbor Real Return Fund outpaces index as inflation-linked bonds move higher in Q2
  • Harbor Real Return Fund recorded returns of 4.25% for the second quarter of 2014 and 6.50% for the six months ended June 30, 2014, outpacing its benchmark, the Barclays U.S. TIPS Index, for both periods.
Harbor Money Market Fund
  • Fischer Francis Trees & Watts, Inc. - 2nd Quarter, 2014
  • Money market returns remain at near-zero levels as Fed trims stimulus
  • Money market investments continued to produce barely positive returns for the first half of 2014.

Performance data shown represents past performance, which is no guarantee of future results. Current performance may be higher or lower than the past performance data shown. Investment returns and the value of an investment will fluctuate, and an investor's shares, when sold, may be worth more or less than their original cost. You can obtain performance data current to the most recent month-end (available within seven business days after the most recent month-end) by calling 800-422-1050 or visiting www.harborfunds.com.

Performance figures discussed reflect that of the institutional class shares.

The views expressed herein are those of the portfolio manager at the time of the interview and may not be reflective of their current opinions or future actions.  These views are not necessarily those of the fund company and should not be construed as such.

This information should not be considered as a recommendation to purchase or sell a particular security and the holdings or sectors mentioned may change at any time and may not represent current or future investments.