Harbor Small Cap Growth Fund Institutional Class (HASGX)

Portfolio Characteristics (As of Quarter Ended 03/31/2017)

Harbor Small Cap Growth FundRussell 2000® Growth Index
Number of Holdings801,157
Weighted Avg. Market Cap ($Mil)3,399.282,376.48
Median Market Cap ($Mil)2,715.03914.86
Price/Book Ratio4.544.23
Adj. Trailing P/E Ratio21.6422.39
Forecasted P/E Ratio20.9220.81
Earnings Growth Rate (%)15.8511.51
Proj. Earnings Growth Rate (%)17.3615.20
Return on Equity (%)9.3712.07
Turnover (unannualized % since 10/31)38-
Beta vs. Fund Benchmark1.20-

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

Top Ten Holdings (As of Quarter Ended 03/31/2017)

Company Name [Ticker]% of Net Assets
Icon plc [ICLR]2.4
Vail Resorts Inc. [MTN]2.4
John Bean Technologies Corp. [JBT]2.4
Installed Building Products Inc. [IBP]2.1
Berry Plastics Group Inc. [BERY]2.1
Watsco Inc. [WSO]2.1
Omnicell Inc. [OMCL]2.0
Ryder System Inc. [R]2.0
Nektar Therapeutics [NKTR]2.0
Masimo Corp. [MASI]2.0
% of Total Holdings:21.5

Full Holdings (As of Quarter Ended 03/31/2017)

Company Name [Ticker]CountryShares (000's)Current Price ($)Market Value ($000's)% of Net Assets
Icon plc [ICLR]IE20779.7216,5392.4
Vail Resorts Inc. [MTN]US86191.9016,5322.4
John Bean Technologies Corp. [JBT]US18787.9516,4262.4
Installed Building Products Inc. [IBP]US27852.7514,6882.1
Berry Plastics Group Inc. [BERY]US30248.5714,6722.1
Watsco Inc. [WSO]US99143.1814,1502.1
Omnicell Inc. [OMCL]US33840.6513,7552.0
Ryder System Inc. [R]US18175.4413,6922.0
Nektar Therapeutics [NKTR]US58323.4713,6832.0
Masimo Corp. [MASI]US14693.2613,6552.0
Electronics For Imaging Inc. [EFII]US27848.8313,5822.0
Bright Horizons Family Solutions Inc. [BFAM]US17872.4912,9201.9
Nexstar Media Group Inc. [NXST]US17770.1512,3821.8
Ciena Corp. [CIEN]US48923.6111,5341.7
Wright Medical Group NV [WMGI]NL36531.1211,3721.7
Spirit Airlines Inc. [SAVE]US21453.0711,3301.6
BroadSoft Inc. [BSFT]US27940.2011,2191.6
Cavium Inc. [CAVM]US15471.6611,0011.6
East West Bancorp Inc. [EWBC]US20251.6110,4091.5
Western Refining Inc. [WNR]US29635.0710,3751.5
Eldorado Resorts Inc. [ERI]US54418.9310,2981.5
Integra LifeSciences Holdings Corp. [IART]US24242.1310,2041.5
Madison Square Garden Co. [MSG]US50199.7110,0221.5
CoStar Group Inc. [CSGP]US48207.2210,0151.5
Interxion Holding NV [INXN]NL25339.569,9951.5
Pacira Pharmaceuticals Inc. [PCRX]US21945.609,9941.5
Zendesk Inc. [ZEN]US35628.049,9771.4
FCB Financial Holdings Inc. [FCB]US19949.559,8711.4
Monolithic Power Systems Inc. [MPWR]US10692.109,7891.4
Brunswick Corp. [BC]US16061.209,7761.4
Lions Gate Entertainment Corp. Class B [LGF/B]CA40024.389,7441.4
Proofpoint Inc. [PFPT]US12574.369,2741.3
DexCom Inc. [DXCM]US10784.739,0581.3
Orbotech Ltd. [ORBK]IL27632.258,9101.3
Neurocrine Biosciences Inc. [NBIX]US20443.308,8271.3
BMC Stock Holdings Inc. [BMCH]US38422.608,6701.3
Fortinet Inc. [FTNT]US22638.358,6521.3
Univar Inc. [UNVR]US27830.668,5281.2
Hexcel Corp. [HXL]US14954.558,1371.2
MGIC Investment Corp. [MTG]US78010.137,9051.1
Microsemi Corp. [MSCC]US15351.537,8631.1
WNS Holdings Ltd. ADR [WNS]JE27028.617,7231.1
Aclaris Therapeutics Inc. [ACRS]US25129.827,4791.1
Dave & Buster's Entertainment Inc. [PLAY]US12261.097,4231.1
Klx Inc. [KLXI]US16444.707,3491.1
Tableau Software Inc. [DATA]US14849.557,3151.1
Ultimate Software Group Inc. [ULTI]US37195.217,2861.1
Mueller Water Products Inc. [MWA]US61611.827,2841.1
ARRIS International plc [ARRS]GB27326.457,2171.0
Marketaxess Holdings Inc. [MKTX]US38187.497,1381.0
Commvault Systems Inc. [CVLT]US13950.807,0411.0
Columbia Property Trust Inc. [CXP]US31522.257,0181.0
Rush Enterprises Inc. [RUSHA]US21033.086,9601.0
Acushnet Holdings Corp. [GOLF]US39917.286,9011.0
National Storage Affiliates Trust [NSA]US27823.906,6331.0
Bank of NT Butterfield & Son Ltd. [NTB]BM20431.916,5250.9
Pacific Premier Bancorp Inc. [PPBI]US16838.556,4570.9
Nice Ltd. ADR [NICE]IL9467.986,3800.9
Isle of Capri Casinos Inc. [ISLE]US24126.366,3490.9
Lithia Motors Inc. [LAD]US6585.655,5630.8
Cardiome Pharma Corp. [CRME]CA1,7583.005,2730.8
Chuy's Holdings Inc. [CHUY]US17629.805,2330.8
Integrated Device Technology Inc. [IDTI]US20923.674,9360.7
Acceleron Pharma Inc. [XLRN]US18426.474,8700.7
Matson Inc. [MATX]US15331.764,8460.7
Genesco Inc. [GCO]US8255.454,5490.7
Prothena Corp. plc [PRTA]IE8055.794,4910.7
Euronet Worldwide Inc. [EEFT]US4785.523,9870.6
Clovis Oncology Inc. [CLVS]US6263.673,9370.6
iRobot Corp. [IRBT]US5966.143,9050.6
Marten Transport Ltd. [MRTN]US15723.453,6730.5
Four Corners Property Trust Inc. [FCPT]US15222.833,4810.5
Community Healthcare Trust Inc. [CHCT]US14323.903,4170.5
Tesaro Inc. [TSRO]US21153.873,2750.5
Alder Biopharmaceuticals Inc. [ALDR]US14520.803,0120.4
Acadia Pharmaceuticals Inc. [ACAD]US8734.383,0020.4
La Jolla Pharmaceutical Co. [LJPC]US9829.852,9390.4
Natural Grocers By Vitamin Cottage Inc. [NGVC]US23410.392,4310.4
Medicines Co. [MDCO]US4548.902,2030.3
Multi-Color Corp. [LABL]US771.004850.1
Macom Technology Solutions Holdings Inc. [MTSI]US1048.304820.1
Total665,89396.9
Cash and Other Assets Less Liabilities3.1
Total Net Assets100%

Sector Allocation (As of Quarter Ended 03/31/2017)

As of Quarter Ended 03/31/2017
Economic SectorHarbor Small Cap Growth Fund %Russell 2000® Growth Index %
Information Technology25.325.0
Health Care21.421.8
Consumer Discretionary19.814.8
Industrials16.215.9
Financials7.05.8
Real Estate3.05.2
Materials2.15.5
Energy1.51.2
Consumer Staples0.43.0
Telecommunication Services0.00.8
Utilities0.00.8

Sector Returns (As of Quarter Ended 03/31/2017)

As of Quarter Ended 03/31/2017
Sector ReturnsHarbor Small Cap Growth Fund %Russell 2000® Growth Index %
Health Care28.513.2
Real Estate8.12.7
Consumer Discretionary7.52.2
Information Technology7.25.7
Financials6.73.1
Cash0.10.0
Telecommunication Services0.0-1.8
Utilities0.01.8
Materials-0.39.5
Industrials-3.11.8
Energy-6.3-14.4
Consumer Staples-21.2-0.0

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 Frank Russell Company.