Harbor Capital Appreciation Fund Institutional Class (HACAX)

Portfolio Characteristics (As of Quarter Ended 03/31/2014)

 Harbor Capital Appreciation FundRussell 1000® Growth Index
Number of Holdings72626
Weighted Avg. Market Cap ($Mil)90,530.8999,979.46
Median Market Cap ($Mil)34,449.758,315.05
Price/Book Ratio5.144.58
Adj. Trailing P/E Ratio31.1520.97
Forecasted P/E Ratio23.2317.57
Earnings Growth Rate (%)13.5913.46
Proj. Earnings Growth Rate (%)20.6314.41
Return on Equity (%)16.2019.77
Beta vs. Russell 1000® Growth Index1.11-
Beta vs. Russell 3000® Index1.03-

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

Top Ten Holdings (As of Quarter Ended 03/31/2014)

Company Name [Ticker]% of Net Assets
Google Inc. [GOOG]4.4
MasterCard Inc. [MA]3.6
Apple Inc. [AAPL]3.4
Amazon.com Inc. [AMZN]3.1
Biogen Idec Inc. [BIIB]2.7
Facebook Inc. [FB]2.5
VISA Inc. [V]2.4
Priceline.com Inc. [PCLN]2.4
Monsanto Co. [MON]2.1
Walt Disney Co. [DIS]2.0
% of Total Holdings:28.6

Full Holdings (As of Quarter Ended 03/31/2014)

Company Name [Ticker]CountryCUSIPShares (000's)Current Price ($)Market Value ($000's)% of Net Assets
Google Inc. [GOOG]US38259P5089141114.511,018,7094.4
MasterCard Inc. [MA]US57636Q10411,11774.70830,4543.6
Apple Inc. [AAPL]US0378331001,472536.74790,1513.4
Amazon.com Inc. [AMZN]US0231351062,151336.52723,6903.1
Biogen Idec Inc. [BIIB]US09062X1032,008305.87614,1182.7
Facebook Inc. [FB]US30303M1029,63660.24580,4632.5
VISA Inc. [V]US92826C8392,586215.86558,2752.4
Priceline.com Inc. [PCLN]US7415034034581191.89546,0322.4
Monsanto Co. [MON]US61166W1014,216113.77479,6762.1
Walt Disney Co. [DIS]US2546871065,84380.07467,8132.0
Nike Inc. [NKE]US6541061036,22873.86459,9912.0
Novo Nordisk AS ADR [NVO]DK6701002059,84345.65449,3412.0
Allergan Inc. [AGN]US0184901023,464124.10429,9271.9
TJX Cos. Inc. [TJX]US8725401097,07560.65429,1111.9
Precision Castparts Corp. [PCP]US7401891051,683252.76425,2981.9
Bristol-Myers Squibb Co. [BMY]US1101221088,17451.95424,6151.8
Salesforce.com Inc. [CRM]US79466L3027,09757.09405,1451.8
Inditex SA [ITX]ES7111319042,667150.03400,0641.7
Boeing Co. [BA]US0970231053,134125.49393,3081.7
Costco Wholesale Corp. [COST]US22160K1053,387111.68378,2811.6
Gilead Sciences Inc. [GILD]US3755581035,25970.86372,6841.6
Alexion Pharmaceuticals Inc. [ALXN]US0153511092,445152.13371,9881.6
Illumina Inc. [ILMN]US4523271092,465148.66366,4911.6
Schlumberger Ltd. [SLB]US8068571083,72497.50363,0451.6
Merck & Co. Inc. [MRK]US58933Y1056,38756.77362,6051.6
Abbott Laboratories [ABT]US0028241009,23338.51355,5461.5
United Technologies Corp. [UTX]US9130171092,991116.84349,4991.5
LinkedIn Corp. [LNKD]US53578A1081,819184.94336,3511.5
Concho Resources Inc. [CXO]US20605P1012,739122.50335,5241.5
VMware Inc. [VMW]US9285634023,057108.02330,2681.4
Union Pacific Corp. [UNP]US9078181081,758187.66329,9271.4
EOG Resources Inc. [EOG]US26875P1011,551196.17304,1681.3
Whole Foods Market Inc. [WFM]US9668371065,87850.71298,0571.3
Canadian Pacific Railway Ltd. [CP]CA13645T1001,955150.43294,0271.3
Celgene Corp. [CELG]US1510201042,005139.60279,9171.2
Adobe Systems Inc. [ADBE]US00724F1014,25265.74279,5551.2
American Tower Corp. [AMT]US03027X1003,34181.87273,5171.2
Starbucks Corp. [SBUX]US8552441093,71373.38272,4391.2
Discovery Communications Inc. [DISCA]US25470F1043,29082.70272,0811.2
Mondelez International Inc. [MDLZ]US6092071057,87034.55271,9191.2
Michael Kors Holdings Ltd. [KORS]USG607541012,89293.27269,7021.2
Under Armour Inc. [UA]US9043111072,335114.64267,7111.2
Red Hat Inc. [RHT]US7565771024,94752.98262,0891.1
Goldman Sachs Group Inc. [GS]US38141G1041,552163.85254,2261.1
Splunk Inc. [SPLK]US8486371043,54371.49253,2771.1
Luxottica Group SpA [LUX]IT4800659034,34357.78250,9261.1
Tesla Motors Inc. [TSLA]US88160R1011,197208.45249,4381.1
Vertex Pharmaceuticals Inc. [VRTX]US92532F1003,52670.72249,3551.1
Dunkin' Brands Group Inc. [DNKN]US2655041004,95350.18248,5431.1
Twenty-First Century Fox Inc. [FOXA]US90130A1017,45631.97238,3731.0
Express Scripts Holding Co. [ESRX]US30219G1083,11875.09234,1651.0
Swatch Group AG [UHR]CH718472905366627.33229,8961.0
Morgan Stanley [MS]US6174464487,28731.17227,1361.0
NetFlix Inc. [NFLX]US64110L106626352.03220,5441.0
ARM Holdings plc ADR [ARMH]GB0420681063,85850.97196,6660.9
Workday Inc. Common Stock [WDAY]US98138H1012,10091.43191,9710.8
Perrigo Co. plc [PRGO]IEG978221031,185154.66183,3160.8
Chipotle Mexican Grill Inc. [CMG]US169656105316568.05179,3790.8
Estée Lauder Companies Inc. [EL]US5184391042,45466.88164,1020.7
Las Vegas Sands Corp. [LVS]US5178341072,00580.78161,9420.7
Mead Johnson Nutrition Co. [MJN]US5828391061,90183.14158,0880.7
TripAdvisor Inc. [TRIP]US8969452011,35390.59122,5530.5
FireEye Inc. [FEYE]US31816Q1011,88361.57115,9450.5
O'reilly Automotive Inc. [ORLY]US67103H107773148.39114,6540.5
Tiffany & Co. [TIF]US8865471081,30086.15111,9960.5
Marriott International Inc. [MAR]US5719032021,88556.02105,5740.5
Twitter Inc. [TWTR]US90184L1022,11146.6798,5020.4
FleetCor Technologies Inc. [FLT]US339041105795115.1091,5210.4
Intercept Pharmaceuticals Inc. [ICPT]US45845P108272329.7989,5790.4
Pandora Media Inc. [P]US6983541072,63530.3279,8980.3
Incyte Corp. Ltd. [INCY]US45337C1021,43653.5276,8690.3
Tableau Software Inc. [DATA]US87336U10566976.0850,8740.2
Total22,972,88099.8
Cash and Other Assets Less Liabilities0.2
Total Net Assets100%

Sector Allocation (As of Quarter Ended 03/31/2014)

As of Quarter Ended 03/31/2014
Economic SectorHarbor Capital Appreciation Fund %Russell 1000® Growth Index %
Information Technology28.127.2
Consumer Discretionary27.619.2
Health Care21.112.3
Industrials7.812.3
Consumer Staples5.511.7
Energy4.44.8
Financials3.35.5
Materials2.14.6
Telecommunication Services0.02.2
Utilities0.00.1

Sector Returns (As of Quarter Ended 03/31/2014)

As of Quarter Ended 03/31/2014
Sector ReturnsHarbor Capital Appreciation Fund %Russell 1000® Growth Index %
Energy10.96.7
Health Care6.43.5
Telecommunication Services0.0-1.3
Utilities0.011.9
Cash-0.00.0
Consumer Discretionary-0.7-2.0
Materials-2.03.2
Information Technology-2.11.9
Industrials-2.20.9
Financials-2.60.2
Consumer Staples-7.0-0.1

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.