Harbor International Growth Fund Institutional Class (HAIGX)

Portfolio Characteristics (As of Quarter Ended 03/31/2016)

 Harbor International Growth FundMSCI All Country World Ex. US (ND) Index
Number of Holdings791,856
Weighted Avg. Market Cap ($Mil)36,784.2049,544.73
Median Market Cap ($Mil)13,332.596,989.61
Price/Book Ratio2.651.51
Adj. Trailing P/E Ratio21.3715.02
Forecasted P/E Ratio19.5413.75
Earnings Growth Rate (%)12.287.52
Proj. Earnings Growth Rate (%)12.659.28
Return on Equity (%)21.3813.70
Turnover (unannualized % since 10/31)6-
Beta vs. MSCI EAFE (ND) Index0.96-
Beta vs. MSCI All Country World Ex. US (ND) Index 0.99-

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

Top Ten Holdings (As of Quarter Ended 03/31/2016)

Company Name [Ticker]% of Net Assets
Novo Nordisk AS [NOVOB]2.8
KAO Corp. [4452]2.6
Cochlear Ltd. [COH]2.4
Shimano Inc. [7309]2.4
Taiwan Semiconductor Manufacturing Co. Ltd. ADR [TSM]2.3
Investment AB Kinnevik [KINV B_SEK]2.2
Naspers Ltd. [NPN]2.2
MS&AD Insurance Group Holdings Inc. [8725]2.2
Hargreaves Lansdown plc [HL.]2.2
ARM Holdings plc [ARM]2.0
% of Total Holdings:23.3

Full Holdings (As of Quarter Ended 03/31/2016)

Company Name [Ticker]CountryShares (000's)Current Price ($)Market Value ($000's)% of Net Assets
Novo Nordisk AS [NOVOB]DK14554.157,8532.8
KAO Corp. [4452]JP13353.327,0762.6
Cochlear Ltd. [COH]AU8478.226,5972.4
Shimano Inc. [7309]JP42156.836,5082.4
Taiwan Semiconductor Manufacturing Co. Ltd. ADR [TSM]TW24126.206,3212.3
Investment AB Kinnevik [KINV B_SEK]SE21628.336,1192.2
Naspers Ltd. [NPN]ZA43139.406,0532.2
MS&AD Insurance Group Holdings Inc. [8725]JP21527.876,0032.2
Hargreaves Lansdown plc [HL.]GB31119.265,9932.2
ARM Holdings plc [ARM]GB38714.565,6412.0
Baidu Inc. ADR [BIDU]CN29190.885,4932.0
Svenska Handelsbanken AB [SHBA]SE41012.695,2071.9
Unilever plc [ULVR]GB11545.095,2001.9
Rightmove plc [RMV]GB8560.395,1581.9
Asos plc [ASC]GB10946.615,0981.8
Samsung Fire & Marine Insurance Co. Ltd. [A000810]KR19258.274,9591.8
Samsung Electronics Co. Ltd. [A005930]KR41147.614,6651.7
Carlsberg AS [CARL B]DK4895.094,5851.7
Adidas AG [ADS]DE38116.764,4651.6
Mettler-Toledo International Inc. [MTD]CH13344.764,3671.6
Industria de Diseno Textil SA [ITX]ES13033.524,3641.6
Nestlé SA [NESN]CH5774.624,2751.5
Olympus Corp. [7733]JP11038.824,2551.5
United Overseas Bank Ltd. [U11]SG29913.994,1851.5
Atlas Copco AB [ATCOB]SE17723.534,1631.5
Japan Exchange Group Inc. [8697]JP27115.304,1501.5
Shiseido Co. Ltd. [4911]JP18422.284,0971.5
Roche Holding AG [ROG]CH17245.544,0701.5
Pigeon Corp. [7956]JP15526.064,0471.5
Johnson Matthey plc [JMAT]GB10139.313,9521.4
Kone OYJ [KNEBV]FI7948.133,8191.4
Auto Trader Group plc [AUTO]GB6825.603,8141.4
Mahindra & Mahindra Ltd. GDR [MHID]IN20417.933,6501.3
Schindler Holding AG [SCHP]CH19184.233,5771.3
Jardine Matheson Holdings Ltd. [J36]HK6357.043,5761.3
Hon Hai Precision Industry Co. Ltd. GDR [HHPD]TW6635.343,5421.3
Capita plc [CPI]GB23414.933,5001.3
Treasury Wine Estates Ltd. [TWE]AU4747.383,4981.3
Rakuten Inc. [4755]JP3629.653,4961.3
Asahi Group Holdings Ltd. [2502]JP11131.123,4491.2
Seek Ltd. [SEK]AU27812.413,4471.2
Jeronimo Martins SGPS SA [JMT]PT20916.353,4091.2
Investor AB [INVE B_SEK]SE9535.353,3701.2
Intertek Group plc [ITRK]GB7045.403,1741.1
Kakaku.com Inc. [2371]JP16918.543,1351.1
Alibaba Group Holding Ltd. ADR [BABA]CN4079.033,1271.1
THK Co. Ltd. [6481]JP16718.413,0821.1
Brambles Ltd. [BXB]AU3289.263,0431.1
Burberry Group plc [BRBY]GB15219.552,9681.1
Zalando Se [ZAL]DE8732.792,8611.0
Distribuidora Internacional de Alimentacion SA [DIA]ES5345.182,7651.0
Swatch Group AG [UHR]CH8345.012,6581.0
Legrand SA [LR]FR4755.892,6230.9
Jupiter Fund Management plc [JUP]GB4335.872,5420.9
JD.Com Inc. ADR [JD]CN9426.502,4790.9
Denso Corp. [6902]JP6140.142,4330.9
Clicks Group Ltd. [CLS]ZA3616.592,3760.9
SMC Corp. [6273]JP10231.732,3170.8
Tsingtao Brewery Co. Ltd. [168]CN6003.812,2840.8
CIE Financiere Richemont SA [CFR]CH3266.052,0970.8
Novozymes AS [NZYM B]DK4644.912,0820.8
Wal-Mart de Mexico SAB de CV [WALMEX *]MX8512.372,0140.7
Thai Beverage PCL [Y92]TH3,7760.532,0020.7
John Wood Group plc [WG.]GB2268.811,9940.7
Sugi Holdings Co. Ltd. [7649]JP3652.761,9200.7
Cafe de Coral Holdings Ltd. [341]HK6602.911,9190.7
BOC Hong Kong Holdings Ltd. [2388]HK5282.991,5770.6
Imagination Technologies Group plc [IMG]GB5592.711,5180.5
Delta Electronics Inc. [2308]TW3284.411,4460.5
Itau Unibanco Holding SA ADR [ITUB]BR1688.591,4440.5
Ctrip.com International Ltd. ADR [CTRP]CN3244.261,4250.5
Puregold Price Club Inc. [PGOLD]PH1,7100.791,3520.5
Jardine Strategic Holdings Ltd. [J37]HK4329.851,2840.5
BHP Billiton plc [BLT]GB9911.201,1130.4
Weir Group plc [WEIR]GB6115.899640.3
Corp. Financiera Alba SA [ALB]ES1738.616640.2
Mesoblast Ltd. [MSB]AU2971.965820.2
Atlas Copco AB [ATCOA]SE2125.105150.2
Protalix BioTherapeutics Inc. [PLX]IL3000.842520.1
Total273,09798.7
Cash and Other Assets Less Liabilities1.3
Total Net Assets100%

Sector Allocation (As of Quarter Ended 03/31/2016)

As of Quarter Ended 03/31/2016
Economic SectorHarbor International Growth Fund %MSCI All Country World Ex. US (ND) Index %
Consumer Staples19.711.2
Consumer Discretionary19.012.0
Financials16.725.8
Information Technology15.98.4
Industrials14.111.5
Health Care10.18.8
Materials2.66.9
Energy0.76.4
Utilities0.03.6
Telecommunication Services0.05.3

Sector Returns (As of Quarter Ended 03/31/2016)

As of Quarter Ended 03/31/2016
Sector ReturnsHarbor International Growth Fund %MSCI All Country World Ex. US (ND) Index %
Consumer Staples5.54.1
Industrials5.02.3
Information Technology1.20.7
Health Care0.7-7.2
Cash0.20.0
Telecommunication Services0.02.5
Utilities0.02.3
Materials-0.27.2
Energy-0.210.1
Financials-4.0-4.9
Consumer Discretionary-4.4-2.5

Country Allocation (As of Quarter Ended 03/31/2016)

As of Quarter Ended 03/31/2016
CountryHarbor International Growth Fund %MSCI All Country World Ex. US (ND) Index %
Japan20.316.1
United Kingdom19.114.1
Switzerland7.66.5
Sweden7.02.1
Australia6.24.9
China5.45.2
Denmark5.31.4
Taiwan4.12.7
South Korea3.53.4
South Africa3.11.6
Other18.442.0

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 All Country World Ex. US (ND) Index is a free float-adjusted market capitalization weighted index that is designed to measure equity market performance in the global developed and emerging markets, excluding the United States. This unmanaged index does not reflect fees and expenses and is not available for direct investment.