Harbor Small Cap Growth Fund Institutional Class (HASGX)

Portfolio Characteristics (As of Quarter Ended 09/30/2016)

 Harbor Small Cap Growth FundRussell 2000® Growth Index
Number of Holdings741,154
Weighted Avg. Market Cap ($Mil)3,027.291,979.59
Median Market Cap ($Mil)2,384.22845.13
Price/Book Ratio4.374.00
Adj. Trailing P/E Ratio2121.42
Forecasted P/E Ratio18.2619.88
Earnings Growth Rate (%)17.4112.44
Proj. Earnings Growth Rate (%)15.1414.80
Return on Equity (%)10.2910.64
Turnover (unannualized % since 10/31)83-
Beta vs. Russell 2000® Growth Index0.95-
Beta vs. Russell 3000® Index1.19-

For definitions of the portfolio characteristics, visit our Financial Glossary.

Top Ten Holdings (As of Quarter Ended 09/30/2016)

Company Name [Ticker]% of Net Assets
Chemtura Corp. [CHMT]2.7
John Bean Technologies Corp. [JBT]2.4
Icon plc [ICLR]2.3
Ultimate Software Group Inc. [ULTI]2.3
Microsemi Corp. [MSCC]2.2
Vail Resorts Inc. [MTN]2.2
Berry Plastics Group Inc. [BERY]2.1
CoStar Group Inc. [CSGP]2.1
Installed Building Products Inc. [IBP]2.1
Electronics For Imaging Inc. [EFII]2.1
% of Total Holdings:22.5

Full Holdings (As of Quarter Ended 09/30/2016)

Company Name [Ticker]CountryShares (000's)Current Price ($)Market Value ($000's)% of Net Assets
Chemtura Corp. [CHMT]US49332.8116,1772.7
John Bean Technologies Corp. [JBT]US20370.5514,3112.4
Icon plc [ICLR]IE18377.3714,1492.3
Ultimate Software Group Inc. [ULTI]US69204.3914,0872.3
Microsemi Corp. [MSCC]US31841.9813,3502.2
Vail Resorts Inc. [MTN]US85156.8813,3112.2
Berry Plastics Group Inc. [BERY]US29743.8513,0092.1
CoStar Group Inc. [CSGP]US59216.5312,8382.1
Installed Building Products Inc. [IBP]US35135.8712,5942.1
Electronics For Imaging Inc. [EFII]US25748.9212,5782.1
Watsco Inc. [WSO]US87140.9012,2072.0
Masimo Corp. [MASI]US20459.4912,1112.0
Integra LifeSciences Holdings Corp. [IART]US14582.5511,9512.0
Monolithic Power Systems Inc. [MPWR]US14680.5011,7201.9
Fortinet Inc. [FTNT]US31736.9311,6891.9
Nexstar Broadcasting Group Inc. [NXST]US19757.7111,3481.9
Wright Medical Group NV [WMGI]NL45624.5311,1781.8
East West Bancorp Inc. [EWBC]US30336.7111,1221.8
Ryder System Inc. [R]US16565.9510,8781.8
Mueller Water Products Inc. [MWA]US85912.5510,7831.8
Bright Horizons Family Solutions Inc. [BFAM]US16166.8910,7821.8
Zendesk Inc. [ZEN]US34430.7110,5591.7
PolyOne Corp. [POL]US29733.8110,0431.7
BroadSoft Inc. [BSFT]US21446.559,9821.6
Starz [STRZA]US31731.199,8911.6
Neurocrine Biosciences Inc. [NBIX]US19550.649,8691.6
Matson Inc. [MATX]US23939.889,5411.6
Madison Square Garden Co. [MSG]US56169.419,5121.6
Ariad Pharmaceuticals Inc. [ARIA]US66613.699,1111.5
Huron Consulting Group Inc. [HURN]US15059.768,9651.5
Orbotech Ltd. [ORBK]IL29629.618,7571.4
Essent Group Ltd. [ESNT]BM32726.618,7011.4
Hexcel Corp. [HXL]US19244.308,5241.4
Spirit Airlines Inc. [SAVE]US18842.538,0111.3
Rush Enterprises Inc. [RUSHA]US31724.487,7651.3
American Woodmark Corp. [AMWD]US9380.577,4701.2
Dave & Buster's Entertainment Inc. [PLAY]US18539.187,2561.2
Commvault Systems Inc. [CVLT]US13553.137,1941.2
Heico Corp. [HEI/A]US11860.517,1411.2
Chuy's Holdings Inc. [CHUY]US25527.947,1381.2
Cullen/Frost Bankers Inc. [CFR]US9771.946,9671.1
Merrimack Pharmaceuticals Inc. [MACK]US1,0766.356,8331.1
ARRIS International plc [ARRS]GB24128.336,8241.1
Omnicell Inc. [OMCL]US17438.306,6501.1
Pacira Pharmaceuticals Inc. [PCRX]US19234.226,5731.1
TeamHealth Holdings Inc. [TMH]US20132.566,5421.1
FCB Financial Holdings Inc. [FCB]US16238.436,2391.0
Ceb Inc. [CEB]US11454.476,1921.0
Marketaxess Holdings Inc. [MKTX]US37165.596,1861.0
Acceleron Pharma Inc. [XLRN]US16936.196,1191.0
Ciena Corp. [CIEN]US28021.806,1061.0
Interxion Holding NV [INXN]NL16736.226,0471.0
Brunswick Corp. [BC]US12448.786,0261.0
Nektar Therapeutics [NKTR]US35117.186,0231.0
WNS Holdings Ltd. ADR [WNS]JE20029.955,9911.0
BGC Partners Inc. [BGCP]US6718.755,8741.0
Cardiome Pharma Corp. [CRME]CA1,7823.145,5960.9
Prothena Corp. plc [PRTA]IE9059.975,3930.9
Isle of Capri Casinos Inc. [ISLE]US23722.285,2730.9
Four Corners Property Trust Inc. [FCPT]US22421.334,7750.8
National Storage Affiliates Trust [NSA]US22220.944,6560.8
Alder Biopharmaceuticals Inc. [ALDR]US14232.774,6540.8
Alkermes plc [ALKS]IE9847.034,6010.8
Siteone Landscape Supply Inc. [SITE]US10335.933,7130.6
Proofpoint Inc. [PFPT]US4874.853,5580.6
Community Healthcare Trust Inc. [CHCT]US15421.923,3830.6
Marten Transport Ltd. [MRTN]US15421.003,2280.5
Inphi Corp. [IPHI]US7443.513,2270.5
Univar Inc. [UNVR]US14821.853,2240.5
AZZ Inc. [AZZ]US4865.273,1090.5
Bruker Corp. [BRKR]US13522.653,0480.5
Multi-Color Corp. [LABL]US4666.003,0180.5
Acorda Therapeutics Inc. [ACOR]US12520.882,6100.4
Navigator Holdings Ltd. [NVGS]MH2077.191,4880.2
Total597,34998.3
Cash and Other Assets Less Liabilities1.7
Total Net Assets100%

Sector Allocation (As of Quarter Ended 09/30/2016)

As of Quarter Ended 09/30/2016
Economic SectorHarbor Small Cap Growth Fund %Russell 2000® Growth Index %
Information Technology23.825.5
Health Care21.923.4
Industrials21.115.5
Consumer Discretionary15.314.7
Financials7.45.0
Materials6.54.9
Real Estate2.15.2
Energy0.21.2
Telecommunication Services0.00.8
Consumer Staples0.03.1
Utilities0.00.8

Sector Returns (As of Quarter Ended 09/30/2016)

As of Quarter Ended 09/30/2016
Sector ReturnsHarbor Small Cap Growth Fund %Russell 2000® Growth Index %
Information Technology14.015.4
Materials12.411.7
Financials12.07.3
Health Care10.713.3
Industrials6.77.0
Real Estate6.00.6
Consumer Discretionary2.32.2
Cash0.10.0
Consumer Staples0.0-0.4
Telecommunication Services0.0-10.8
Utilities0.0-5.2
Energy-37.524.0

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

The Russell 2000® Growth Index is an unmanaged index representing the smallest 2000 stocks with the highest price-to-book ratio and future earnings. This unmanaged index does not reflect fees and expenses and is not available for direct investment. The Russell 2000® Growth Index and Russell® are trademarks of Russell Investments.