Harbor Capital Appreciation Fund Institutional Class (HACAX)

Portfolio Characteristics (As of Quarter Ended 06/30/2014)

 Harbor Capital Appreciation FundRussell 1000® Growth Index
Number of Holdings70672
Weighted Avg. Market Cap ($Mil)100,321.17110,579.39
Median Market Cap ($Mil)36,300.118,695.87
Price/Book Ratio5.675.02
Adj. Trailing P/E Ratio32.1922.74
Forecasted P/E Ratio23.3617.86
Earnings Growth Rate (%)16.8614.58
Proj. Earnings Growth Rate (%)20.2815.00
Return on Equity (%)17.0019.19
Turnover (unannualized % since 10/31)21-
Beta vs. Russell 1000® Growth Index1.13-
Beta vs. Russell 3000® Index1.05-

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

Top Ten Holdings (As of Quarter Ended 06/30/2014)

Company Name [Ticker]% of Net Assets
Apple Inc. [AAPL]4.3
MasterCard Inc. [MA]3.4
Facebook Inc. [FB]2.7
Amazon.com Inc. [AMZN]2.7
Biogen Idec Inc. [BIIB]2.6
Schlumberger Ltd. [SLB]2.5
Priceline Group Inc. [PCLN]2.4
VISA Inc. [V]2.2
Walt Disney Co. [DIS]2.1
Monsanto Co. [MON]2.1
% of Total Holdings:27.0

Full Holdings (As of Quarter Ended 06/30/2014)

Company Name [Ticker]CountryCUSIPShares (000's)Current Price ($)Market Value ($000's)% of Net Assets
Apple Inc. [AAPL]US03783310011,20392.931,041,0854.3
MasterCard Inc. [MA]US57636Q10411,06373.47812,7663.4
Facebook Inc. [FB]US30303M1029,77567.29657,7452.7
Amazon.com Inc. [AMZN]US0231351062,018324.78655,2862.7
Biogen Idec Inc. [BIIB]US09062X1031,998315.31629,9592.6
Schlumberger Ltd. [SLB]US8068571085,170117.95609,8042.5
Priceline Group Inc. [PCLN]US7415034034791203.00576,6812.4
VISA Inc. [V]US92826C8392,511210.71529,0882.2
Walt Disney Co. [DIS]US2546871065,81485.74498,4782.1
Monsanto Co. [MON]US61166W1013,984124.74496,9982.1
Nike Inc. [NKE]US6541061036,19777.55480,5982.0
Google Inc. [GOOG]US38259P706828575.28476,4682.0
Google Inc. [GOOGL]US38259P508809584.67472,9832.0
Novo Nordisk AS ADR [NVO]DK6701002059,96246.19460,1381.9
Boeing Co. [BA]US0970231053,464127.23440,7351.8
Illumina Inc. [ILMN]US4523271092,431178.54434,0571.8
Salesforce.com Inc. [CRM]US79466L3027,46258.08433,3691.8
Precision Castparts Corp. [PCP]US7401891051,674252.40422,6051.8
Inditex SA [ITX]ES7111319042,667153.90410,3991.7
Celgene Corp. [CELG]US1510201044,66985.88400,9771.7
Concho Resources Inc. [CXO]US20605P1012,739144.50395,7811.7
Costco Wholesale Corp. [COST]US22160K1053,371115.16388,1511.6
Abbott Laboratories [ABT]US0028241009,44140.90386,1231.6
Gilead Sciences Inc. [GILD]US3755581034,48082.91371,4121.6
Alexion Pharmaceuticals Inc. [ALXN]US0153511092,349156.25366,9921.5
Starbucks Corp. [SBUX]US8552441094,68377.38362,3841.5
EOG Resources Inc. [EOG]US26875P1013,086116.86360,6101.5
TJX Cos. Inc. [TJX]US8725401096,73553.15357,9841.5
NetFlix Inc. [NFLX]US64110L106807440.60355,6121.5
Canadian Pacific Railway Ltd. [CP]CA13645T1001,945181.14352,3121.5
Union Pacific Corp. [UNP]US9078181083,51699.75350,7431.5
Bristol-Myers Squibb Co. [BMY]US1101221087,09148.51344,0021.4
United Technologies Corp. [UTX]US9130171092,977115.45343,6441.4
LinkedIn Corp. [LNKD]US53578A1081,991171.47341,4711.4
Red Hat Inc. [RHT]US7565771025,90455.27326,3291.4
Merck & Co. Inc. [MRK]US58933Y1055,58357.85322,9761.3
American Tower Corp. [AMT]US03027X1003,46689.98311,8701.3
Adobe Systems Inc. [ADBE]US00724F1014,23272.36306,1941.3
Under Armour Inc. [UA]US9043111075,12859.49305,0601.3
Vertex Pharmaceuticals Inc. [VRTX]US92532F1003,18694.68301,6921.3
Tesla Motors Inc. [TSLA]US88160R1011,229240.06295,1071.2
VMware Inc. [VMW]US9285634023,04796.81294,9581.2
Marriott International Inc. [MAR]US5719032024,45964.10285,8051.2
Twenty-First Century Fox Inc. [FOXA]US90130A1017,84735.15275,8131.2
Mondelez International Inc. [MDLZ]US6092071056,94937.61261,3671.1
Michael Kors Holdings Ltd. [KORS]USG607541012,92188.65258,9691.1
Chipotle Mexican Grill Inc. [CMG]US169656105428592.51253,3631.1
Luxottica Group SpA [LUX]IT4800659034,34357.91251,4681.0
Workday Inc. [WDAY]US98138H1012,69689.86242,2681.0
Allergan Inc. [AGN]US0184901021,430169.22242,0251.0
Tiffany & Co. [TIF]US8865471082,368100.25237,4241.0
Qualcomm Inc. [QCOM]US7475251032,98879.20236,6441.0
Morgan Stanley [MS]US6174464487,25132.33234,4311.0
Las Vegas Sands Corp. [LVS]US5178341073,06076.22233,2261.0
Swatch Group AG [UHR]CH718472905366602.97220,9670.9
Splunk Inc. [SPLK]US8486371043,92755.33217,2940.9
Dunkin' Brands Group Inc. [DNKN]US2655041004,47145.81204,8270.9
TripAdvisor Inc. [TRIP]US8969452011,825108.66198,3470.8
Mead Johnson Nutrition Co. [MJN]US5828391062,05393.17191,2620.8
FleetCor Technologies Inc. [FLT]US3390411051,409131.80185,7490.8
Discovery Communications Inc. [DISCA]US25470F1042,47074.28183,4720.8
Perrigo Co. plc [PRGO]IEG978221031,194145.76173,9830.7
O'reilly Automotive Inc. [ORLY]US67103H1071,088150.60163,8460.7
Twitter Inc. [TWTR]US90184L1023,69340.97151,3140.6
ARM Holdings plc ADR [ARMH]GB0420681063,03045.24137,0940.6
Incyte Corp. Ltd. [INCY]US45337C1021,55456.4487,6810.4
Pandora Media Inc. [P]US6983541072,63529.5077,7370.3
FireEye Inc. [FEYE]US31816Q1011,88340.5576,3610.3
Intercept Pharmaceuticals Inc. [ICPT]US45845P108321236.6375,9810.3
Whole Foods Market Inc. [WFM]US96683710689238.6334,4400.1
Total23,874,78499.6
Cash and Other Assets Less Liabilities0.4
Total Net Assets100%

Sector Allocation (As of Quarter Ended 06/30/2014)

As of Quarter Ended 06/30/2014
Economic SectorHarbor Capital Appreciation Fund %Russell 1000® Growth Index %
Consumer Discretionary29.518.4
Information Technology29.327.7
Health Care19.212.8
Industrials8.012.2
Energy5.76.4
Consumer Staples3.710.5
Financials2.35.2
Materials2.14.3
Telecommunication Services0.02.3
Utilities0.00.1

Sector Returns (As of Quarter Ended 06/30/2014)

As of Quarter Ended 06/30/2014
Sector ReturnsHarbor Capital Appreciation Fund %Russell 1000® Growth Index %
Energy19.817.5
Materials10.15.4
Health Care8.86.0
Financials5.55.2
Industrials4.83.6
Consumer Discretionary2.82.5
Information Technology1.74.5
Cash0.00.0
Telecommunication Services0.05.4
Utilities0.03.5
Consumer Staples-1.16.3

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 1000® Growth Index is an unmanaged index generally representative of the U.S. market for larger capitalization growth stocks. This unmanaged index does not reflect fees and expenses and is not available for direct investment. The Russell 1000® Growth Index and Russell® are trademarks of Russell Investments.

The S&P 500 Index is an unmanaged index generally representative of the U.S. stock market. This unmanaged index does not reflect fees and expenses and is not available for direct investment.