Harbor Large Cap Value Fund Institutional Class (HAVLX)

Portfolio Characteristics (As of Quarter Ended 06/30/2015)

 Harbor Large Cap Value FundRussell 1000® Value Index
Number of Holdings42684
Weighted Avg. Market Cap ($Mil)79,995.78106,426.17
Median Market Cap ($Mil)45,106.018,163.87
Price/Book Ratio2.621.76
Adj. Trailing P/E Ratio18.2215.63
Forecasted P/E Ratio16.5015.24
Earnings Growth Rate (%)9.7410.71
Proj. Earnings Growth Rate (%)10.818.86
Return on Equity (%)14.6311.39
Turnover (unannualized % since 10/31)8-
Beta vs. Russell 1000® Value Index1.03-
Beta vs. Russell 3000® Index1.08-

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

Top Ten Holdings (As of Quarter Ended 09/30/2015)

Company Name [Ticker]% of Net Assets
Walgreens Boots Alliance Inc. [WBA]3.2
Home Depot Inc. [HD]3.2
Time Warner Inc. [TWX]3.1
Lennar Corp. [LEN]3.1
Medtronic plc [MDT]3.1
TE Connectivity Ltd. [TEL]3.1
Adobe Systems Inc. [ADBE]3.0
AbbVie Inc. [ABBV]2.9
Phillips 66 [PSX]2.9
General Dynamics Corp. [GD]2.9
% of Total Holdings:30.5

Full Holdings (As of Quarter Ended 06/30/2015)

Company Name [Ticker]CountryCUSIPShares (000's)Current Price ($)Market Value ($000's)% of Net Assets
Time Warner Inc. [TWX]US88731730310887.419,4233.3
Lennar Corp. [LEN]US52605710418251.049,2743.3
Home Depot Inc. [HD]US43707610283111.139,1793.2
Walgreens Boots Alliance Inc. [WBA]US93142710810784.449,0103.2
TE Connectivity Ltd. [TEL]CHH8498910413864.308,8733.1
Medtronic plc [MDT]IEG5960L10311774.108,6403.0
AbbVie Inc. [ABBV]US00287Y10912667.198,4663.0
Baxter International Inc. [BAX]US07181310911869.938,2732.9
Adobe Systems Inc. [ADBE]US00724F10110181.018,2142.9
Phillips 66 [PSX]US71854610410180.568,1292.9
General Dynamics Corp. [GD]US36955010857141.698,0762.8
JP Morgan Chase & Co. [JPM]US46625H10011467.767,7252.7
eBay Inc. [EBAY]US27864210312760.247,6322.7
Microsoft Corp. [MSFT]US59491810416844.157,4352.6
Bank of America Corp. [BAC]US06050510443017.027,3192.6
Novartis AG ADR [NVS]CH66987V1097198.346,9722.5
Martin Marietta Materials Inc. [MLM]US57328410649141.516,9342.4
Unilever NV [UN]NL90478470916441.846,8742.4
Dow Chemical Co. [DOW]US26054310313051.176,6522.3
Texas Instruments Inc. [TXN]US88250810412951.516,6242.3
Mondelez International Inc. [MDLZ]US60920710515941.146,5452.3
Illinois Tool Works Inc. [ITW]US4523081097191.796,5352.3
General Electric Co. [GE]US36960410324526.576,5102.3
First Republic Bank [FRC]US33616C10010363.036,4922.3
Oracle Corp. [ORCL]US68389X10516040.306,4482.3
ITC Holdings Corp. [ITC]US46568510519232.186,1722.2
Oshkosh Corp. [OSK]US68823920114542.386,1452.2
EMC Corp. [EMC]US26864810223126.396,0882.1
Coty Inc. [COTY]US22207020319031.976,0742.1
Diageo plc ADR [DEO]GB25243Q20551116.045,9302.1
Mitsubishi UFJ Financial Group Inc. ADR [MTU]JP6068221048097.225,8412.1
National Fuel Gas Co. [NFG]US6361801019958.895,8302.1
Banco Santander SA ADR [SAN]ES05964H1058267.015,7872.0
Halliburton Co. [HAL]US40621610113343.075,7282.0
M&T Bank Corp. [MTB]US55261F10445124.935,6592.0
AES Corp. [AES]US00130H10541713.265,5311.9
Deere & Co. [DE]US2441991055697.055,4151.9
Pioneer Natural Resources Co. [PXD]US72378710737138.695,1041.8
Ecolab Inc. [ECL]US27886510044113.074,9301.7
Hershey Co. [HSY]US4278661085088.834,4061.5
BOK Financial Corp. [BOKF]US05561Q2012169.581,4490.5
Cullen/Frost Bankers Inc. [CFR]US2298991091478.581,1280.4
Cash and Other Assets Less Liabilities1.8
Total Net Assets100%

Sector Allocation (As of Quarter Ended 06/30/2015)

As of Quarter Ended 06/30/2015
Economic SectorHarbor Large Cap Value Fund %Russell 1000® Value Index %
Information Technology18.011.0
Consumer Staples13.76.7
Health Care11.411.8
Consumer Discretionary9.85.4
Telecommunication Services0.02.5

Sector Returns (As of Quarter Ended 06/30/2015)

As of Quarter Ended 06/30/2015
Sector ReturnsHarbor Large Cap Value Fund %Russell 1000® Value Index %
Consumer Staples5.9-1.2
Health Care4.62.3
Consumer Discretionary0.5-2.6
Telecommunication Services0.06.8
Information Technology-0.1-0.6

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