Harbor International Fund Institutional Class (HAINX)

Portfolio Characteristics (As of Quarter Ended 12/31/2015)

 Harbor International FundMSCI EAFE (ND) Index
Number of Holdings65926
Weighted Avg. Market Cap ($Mil)69,263.9755,839.10
Median Market Cap ($Mil)29,833.068,794.41
Price/Book Ratio2.001.62
Adj. Trailing P/E Ratio16.3016.17
Forecasted P/E Ratio16.6614.77
Earnings Growth Rate (%)15.5210.87
Proj. Earnings Growth Rate (%)9.429.03
Return on Equity (%)12.3610.77
Turnover (unannualized % since 10/31)1-
Beta vs. MSCI EAFE (ND) Index1-

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

Top Ten Holdings (As of Quarter Ended 12/31/2015)

Company Name [Ticker]% of Net Assets
Novo Nordisk AS [NOVOB]3.9
Las Vegas Sands Corp. [LVS]3.4
Roche Holding AG [ROG]3.3
Unibail-Rodamco SE [UL]2.8
Novartis AG [NOVN]2.7
Allianz SE [ALV]2.6
Essilor International SA [EI]2.5
Alibaba Group Holding Ltd. ADR [BABA]2.5
Diageo plc [DGE]2.5
Shire plc [SHP]2.4
% of Total Holdings:28.6

Full Holdings (As of Quarter Ended 12/31/2015)

Company Name [Ticker]CountryShares (000's)Current Price ($)Market Value ($000's)% of Net Assets
Novo Nordisk AS [NOVOB]DK27,63657.901,600,0813.9
Las Vegas Sands Corp. [LVS]US32,38343.841,419,6753.4
Roche Holding AG [ROG]CH4,974277.111,378,3513.3
Unibail-Rodamco SE [UL]FR4,477253.931,136,9552.8
Novartis AG [NOVN]CH12,95786.021,114,5132.7
Allianz SE [ALV]DE6,101176.281,075,4832.6
Essilor International SA [EI]FR8,379124.641,044,3712.5
Alibaba Group Holding Ltd. ADR [BABA]CN12,67581.271,030,1172.5
Diageo plc [DGE]GB37,57027.311,025,9622.5
Shire plc [SHP]GB14,70268.611,008,6932.4
Lloyds Banking Group plc [LLOY]GB884,8381.08952,0802.3
UBS Group AG [UBSG]CH48,31119.40937,2162.3
Anheuser-Busch InBev NV [ABI]BE7,360124.45915,8882.2
Tokio Marine Holdings Inc. [8766]JP23,58138.62910,7992.2
Nestlé SA [NESN]CH12,15474.24902,2662.2
Wynn Resorts Ltd. [WYNN]US12,95269.19896,1592.2
Heineken NV [HEIA]NL10,28985.22876,7652.1
AXA SA [CS]FR31,79127.32868,6512.1
Banco Bilbao Vizcaya Argentaria SA [BBVA]ES117,0967.31855,5972.1
Schlumberger Ltd. [SLB]US12,13369.75846,2522.1
Pernod Ricard SA [RI]FR7,330114.04835,9692.0
Syngenta AG [SYNN]CH2,062391.40807,2392.0
Standard Chartered plc [STAN]GB93,6688.30777,1821.9
Atlas Copco AB [ATCOA]SE30,41524.52745,9111.8
SAP SE [SAP]DE9,37379.35743,8001.8
Schneider Electric SE [SU]FR13,00356.80738,6471.8
Reckitt Benckiser Group plc [RB.]GB7,92192.53732,8621.8
Rolls-Royce Holdings plc [RR.]GB86,4918.47732,6141.8
CIE Financiere Richemont SA [CFR]CH10,08571.57721,8121.8
L'Oreal SA [OR]FR4,262168.20716,8241.7
Cie Generale des Etablissements Michelin [ML]FR7,43395.18707,5331.7
Fanuc Corp. [6954]JP3,951172.29680,6831.7
Linde AG [LIN]DE4,602144.46664,8401.6
Investor AB [INVE B_SEK]SE17,04936.75626,5551.5
LVMH Moet Hennessy Louis Vuitton SE [MC]FR3,722157.07584,6751.4
Erste Group Bank AG [EBS]AT18,41931.29576,3411.4
Fresenius Se & Co. KGAA [FRE]DE8,03871.23572,5411.4
Japan Tobacco Inc. [2914]JP15,52436.71569,9441.4
SMC Corp. [6273]JP2,148259.73557,9861.4
Dentsu Inc. [4324]JP9,87254.71540,1021.3
Legrand SA [LR]FR8,78456.57496,8641.2
Swatch Group AG [UHR]CH1,399347.26485,9771.2
LafargeHolcim Ltd. [LHN]CH9,65250.07483,3131.2
Air Liquide SA [AI]FR3,655112.27410,3681.0
Daimler AG [DAI]DE4,61083.55385,1970.9
Compagnie de Saint-Gobain [SGO]FR8,67543.34375,9210.9
Bancolombia SA ADR [CIB]CO13,26326.75354,7790.9
Fresenius Medical Care AG & Co. KGAA [FME]DE4,18684.03351,7450.9
JCDecaux SA [DEC]FR7,88838.33302,4040.7
Cementos Argos SA [CEMARGOS]CO62,6173.06191,7280.5
Sandvik AB [SAND_SEK]SE21,3108.72185,7630.5
Omron Corp. [6645]JP5,24033.35174,7440.4
Grupo de Inversiones Suramericana SA [GRUPOSURA]CO14,80411.25166,4890.4
Freeport-McMoRan Inc. [FCX]US24,1956.77163,7990.4
Glencore plc [GLEN]GB100,5141.33133,1940.3
Genting Bhd [GENTING]MY76,4751.71130,4300.3
Indivior plc [INDV]GB47,0822.76130,1080.3
LIXIL Group Corp. [5938]JP5,22822.21116,1080.3
Grupo Argos SA [GRUPOARG]CO17,3645.1088,6110.2
Barrick Gold Corp. [ABX]CA10,6337.3878,4690.2
Grupo Aval Acciones y Valores SA ADR [AVAL]CO9,6786.5263,0980.2
Hermes International SA [RMS]FR160338.0254,1820.1
Grupo de Inversiones Suramericana SA [PFGRUPSU]CO1,38210.9615,1520.0
Rolls-Royce Holdings plcGB8,364,9400.0012,3320.0
Genting Bhd [GENTING-WA]MY30,6340.206,0650.0
Total39,786,77496.6
Cash and Other Assets Less Liabilities3.4
Total Net Assets100%

Sector Allocation (As of Quarter Ended 12/31/2015)

As of Quarter Ended 12/31/2015
Economic SectorHarbor International Fund %MSCI EAFE (ND) Index %
Financials22.625.6
Health Care17.511.9
Consumer Staples15.911.9
Consumer Discretionary15.113.2
Industrials11.312.6
Materials7.36.4
Information Technology4.75.2
Energy2.14.5
Utilities0.03.8
Telecommunication Services0.04.9

Sector Returns (As of Quarter Ended 12/31/2015)

As of Quarter Ended 12/31/2015
Sector ReturnsHarbor International Fund %MSCI EAFE (ND) Index %
Information Technology27.810.3
Consumer Staples6.75.2
Consumer Discretionary5.75.6
Industrials3.66.4
Health Care2.95.4
Energy1.80.8
Cash0.60.0
Financials0.53.5
Telecommunication Services0.06.5
Utilities0.02.3
Materials-0.21.2

Country Allocation (As of Quarter Ended 12/31/2015)

As of Quarter Ended 12/31/2015
CountryHarbor International Fund %MSCI EAFE (ND) Index %
France20.19.7
Switzerland16.69.4
United Kingdom13.319.7
Germany9.29.1
Japan8.623.4
United States8.10.0
Denmark3.91.9
Sweden3.82.9
China2.50.0
Belgium2.21.4
Other11.722.5

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 MSCI EAFE (ND) Index is an unmanaged index generally representative of major overseas stock markets. This unmanaged index does not reflect fees and expenses and is not available for direct investment.