Harbor Capital Appreciation Fund Institutional Class (HACAX)

Portfolio Characteristics (As of Quarter Ended 12/31/2016)

 Harbor Capital Appreciation FundRussell 1000® Growth Index
Number of Holdings56606
Weighted Avg. Market Cap ($Mil)172,025.72152,127.92
Median Market Cap ($Mil)52,172.199,029.64
Price/Book Ratio6.725.91
Adj. Trailing P/E Ratio27.4722.27
Forecasted P/E Ratio22.0719.26
Earnings Growth Rate (%)11.8011.60
Proj. Earnings Growth Rate (%)18.8713.44
Return on Equity (%)16.2021.39
Turnover (unannualized % since 10/31)10-
Beta vs. Russell 1000® Growth Index1.10-
Beta vs. Russell 3000® Index1.04-

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

Top Ten Holdings (As of Quarter Ended 12/31/2016)

Company Name [Ticker]% of Net Assets
Amazon.com Inc. [AMZN]5.7
Apple Inc. [AAPL]4.8
Facebook Inc. [FB]4.0
Microsoft Corp. [MSFT]3.6
VISA Inc. [V]3.3
MasterCard Inc. [MA]3.1
Alibaba Group Holding Ltd. ADR [BABA]3.0
Alphabet Inc. Class A [GOOGL]2.9
Alphabet Inc. Class C [GOOG]2.9
Celgene Corp. [CELG]2.9
% of Total Holdings:36.2

Full Holdings (As of Quarter Ended 12/31/2016)

Company Name [Ticker]CountryShares (000's)Current Price ($)Market Value ($000's)% of Net Assets
Amazon.com Inc. [AMZN]US1,803749.871,352,2835.7
Apple Inc. [AAPL]US9,760115.821,130,3844.8
Facebook Inc. [FB]US8,196115.05942,9994.0
Microsoft Corp. [MSFT]US13,61362.14845,8883.6
VISA Inc. [V]US10,03578.02782,9423.3
MasterCard Inc. [MA]US7,073103.25730,2913.1
Alibaba Group Holding Ltd. ADR [BABA]CN8,04787.81706,5913.0
Alphabet Inc. Class A [GOOGL]US870792.45689,0812.9
Alphabet Inc. Class C [GOOG]US890771.82686,9382.9
Celgene Corp. [CELG]US5,892115.75682,0452.9
NVIDIA Corp. [NVDA]US6,162106.74657,7172.8
Tencent Holdings Ltd. [700]CN26,77624.25649,2492.7
Adobe Systems Inc. [ADBE]US5,279102.95543,4702.3
Industria de Diseno Textil SA [ITX]ES15,51934.07528,6832.2
Marriott International Inc. [MAR]US6,20782.68513,2272.2
NetFlix Inc. [NFLX]US4,141123.80512,6142.2
Goldman Sachs Group Inc. [GS]US2,091239.45500,7792.1
Qualcomm Inc. [QCOM]US7,23265.20471,5412.0
Priceline Group Inc. [PCLN]US3181466.06465,5502.0
Boeing Co. [BA]US2,984155.68464,5332.0
Bristol-Myers Squibb Co. [BMY]US7,72358.44451,3051.9
Starbucks Corp. [SBUX]US8,06355.52447,6361.9
Salesforce.com Inc. [CRM]US6,47068.46442,9031.9
O'reilly Automotive Inc. [ORLY]US1,569278.41436,9341.8
Shire plc ADR [SHPG]US2,371170.38404,0461.7
Adidas AG [ADS]DE2,489157.72392,6021.7
Halliburton Co. [HAL]US7,02754.09380,1011.6
Costco Wholesale Corp. [COST]US2,234160.11357,7401.5
Concho Resources Inc. [CXO]US2,542132.60337,0921.4
FedEx Corp. [FDX]US1,793186.20333,7911.4
Alexion Pharmaceuticals Inc. [ALXN]US2,707122.35331,2231.4
Allergan plc [AGN]US1,540210.01323,4091.4
FleetCor Technologies Inc. [FLT]US2,112141.52298,9051.3
Time Warner Inc. [TWX]US3,03496.53292,8931.2
Monster Beverage Corp. [MNST]US6,43844.34285,4491.2
Charter Communications Inc. [CHTR]US990287.92285,0921.2
TJX Companies Inc. [TJX]US3,78075.13283,9581.2
Home Depot Inc. [HD]US2,078134.08278,5551.2
Regeneron Pharmaceuticals Inc. [REGN]US756367.09277,6561.2
Red Hat Inc. [RHT]US3,98169.70277,4751.2
JPMorgan Chase & Co. [JPM]US3,14086.29270,9321.1
NXP Semiconductors NV [NXPI]NL2,43598.01238,6461.0
Parker-Hannifin Corp. [PH]US1,694140.00237,0931.0
S&P Global Inc. [SPGI]US2,181107.54234,5561.0
Palo Alto Networks Inc. [PANW]US1,824125.05228,0531.0
Tesla Motors Inc. [TSLA]US1,007213.69215,1250.9
Workday Inc. [WDAY]US3,25066.09214,8020.9
Splunk Inc. [SPLK]US4,05851.15207,5600.9
Nike Inc. [NKE]US3,77150.83191,6600.8
Constellation Brands Inc. [STZ]US1,205153.31184,7640.8
Albemarle Corp. [ALB]US1,89786.08163,2570.7
Illumina Inc. [ILMN]US1,240128.04158,7140.7
BioMarin Pharmaceutical Inc. [BMRN]US1,76082.84145,8020.6
ULTA Salon Cosmetics & Fragrance Inc. [ULTA]US552254.94140,7370.6
Expedia Inc. [EXPE]US1,047113.28118,5850.5
EOG Resources Inc. [EOG]US1,144101.10115,6820.5
Total23,841,538101.0
Cash and Other Assets Less Liabilities-1.0
Total Net Assets100%

Sector Allocation (As of Quarter Ended 12/31/2016)

As of Quarter Ended 12/31/2016
Economic SectorHarbor Capital Appreciation Fund %Russell 1000® Growth Index %
Information Technology45.231.4
Consumer Discretionary27.220.8
Health Care11.716.1
Industrials4.411.1
Financials4.22.9
Energy3.50.6
Consumer Staples3.59.5
Materials0.73.6
Telecommunication Services0.01.3
Real Estate0.02.7
Utilities0.00.0

Sector Returns (As of Quarter Ended 12/31/2016)

As of Quarter Ended 12/31/2016
Sector ReturnsHarbor Capital Appreciation Fund %Russell 1000® Growth Index %
Financials16.86.6
Industrials14.96.8
Energy7.2-0.9
Materials1.02.1
Consumer Discretionary0.52.1
Telecommunication Services0.04.5
Utilities0.03.7
Consumer Staples-3.2-0.4
Cash-3.30.0
Information Technology-4.11.1
Health Care-5.0-3.5
Real Estate-6.4-5.2

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 Frank Russell Company.

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.