Harbor Real Return Fund Institutional Class (HARRX)

Portfolio Characteristics (As of Quarter Ended 12/31/2013)

 Harbor Real Return FundBarclays U.S. TIPS Index
Number of Issues87-
Average Market Coupon (%)1.301.36
Yield to Maturity (%)3.601.59
Weighted Avg. Maturity (yrs)7.838.13
Weighted Avg. Duration (yrs)6.936.83

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

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

Issuer NameMaturity DateCoupon Rate (%)Market Value ($000's)% of Net Assets
U.S. Treasury Inflation Indexed Bonds07/15/20220.148,85612.9
U.S. Treasury Inflation Indexed Bonds01/15/20220.137,5959.9
U.S. Treasury Inflation Indexed Bonds01/15/20252.433,6038.8
U.S. Treasury Inflation Indexed Bonds07/15/20210.631,5488.3
U.S. Treasury Inflation Indexed Bonds01/15/20272.419,4115.1
U.S. Treasury Inflation Indexed Bonds01/15/20151.619,1435.0
U.S. Treasury Inflation Indexed Bonds01/15/20262.018,0054.7
U.S. Treasury Inflation Indexed Bonds04/15/20150.516,8834.4
U.S. Treasury Inflation Indexed Bonds01/15/20230.115,5044.1
U.S. Treasury Inflation Indexed Bonds07/15/20201.214,9223.9
% of Total Holdings:255,47067.1

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

Issuer NameMaturity DateCoupon Rate (%)Market Value ($000's)% of Net Assets
U.S. Treasury Inflation Indexed Bonds07/15/20220.148,85612.9
U.S. Treasury Inflation Indexed Bonds01/15/20220.137,5959.9
U.S. Treasury Inflation Indexed Bonds01/15/20252.433,6038.8
U.S. Treasury Inflation Indexed Bonds07/15/20210.631,5488.3
U.S. Treasury Inflation Indexed Bonds01/15/20272.419,4115.1
U.S. Treasury Inflation Indexed Bonds01/15/20151.619,1435.0
U.S. Treasury Inflation Indexed Bonds01/15/20262.018,0054.7
U.S. Treasury Inflation Indexed Bonds04/15/20150.516,8834.4
U.S. Treasury Inflation Indexed Bonds01/15/20230.115,5044.1
U.S. Treasury Inflation Indexed Bonds07/15/20201.214,9223.9
U.S. Treasury Inflation Indexed Bonds01/15/20292.514,1603.7
U.S. Treasury Inflation Indexed Bonds07/15/20191.912,2223.2
U.S. Treasury Inflation Indexed Bonds04/15/20293.912,1683.2
U.S. Treasury Inflation Indexed Bonds04/15/20180.110,5652.8
U.S. Treasury Inflation Indexed Bonds01/15/20281.89,6992.6
U.S. Treasury Inflation Indexed Bonds01/15/20211.17,8382.1
U.S. Treasury Inflation Indexed Bonds07/15/20230.47,6602.0
U.S. Treasury Inflation Indexed Bonds01/15/20162.07,5162.0
Bundesobligation Inflation Linked04/15/20180.87,0271.8
U.S. Treasury Inflation Indexed Bonds01/15/20201.46,7851.8
U.S. Treasury Inflation Indexed Bonds07/15/20172.66,0771.6
U.S. Treasury Inflation Indexed Bonds01/15/20192.15,9671.6
U.S. Treasury Inflation Indexed Bonds02/15/20441.45,9531.6
Spain Government Bond04/30/20243.84,3321.1
U.S. Treasury Inflation Indexed Bonds07/15/20151.93,2800.9
U.S. Treasury Inflation Indexed Bonds02/15/20402.13,2450.9
Nordea Eiendomskreditt AS04/07/20150.73,1000.8
DBUBS Mortgage Trust07/10/20443.42,9260.8
New South Wales Treasury Corp.11/20/20252.82,8360.7
Stone Street Trust12/15/20155.92,5830.7
SLM Student Loan Trust12/15/20230.62,5700.7
Italy Buoni Poliennali del Tesoro09/15/20172.12,5160.7
U.K. Gilt Inflation Linked07/26/20162.52,2570.6
Danske Bank AS04/14/20141.31,7000.4
Societe Generale MTN04/11/20141.31,7000.4
Italy Buoni Poliennali Del Tesoro09/15/20181.71,5820.4
Hillmark Funding05/21/20210.51,4940.4
U.S. Treasury Inflation Indexed Bonds04/15/20170.11,3770.4
Bear Stearns ALT-A Trust07/25/20354.91,3750.4
New Zealand Government Bond09/20/20252.01,3240.3
Slovenia Government Bond11/01/20164.71,1990.3
LBG Capital No.2 plc12/21/201915.01,1910.3
Federal Home Loan Mortgage Corp. REMIC12/15/20370.81,0940.3
GATX Financial Corp.03/01/20165.81,0850.3
Holmes Master Issuer plc10/15/20541.61,0640.3
RBSSP Resecuritization Trust07/26/20452.59870.3
U.S. Treasury Inflation Indexed Bonds04/15/20283.68860.2
Lavender Trust Series10/26/20366.28420.2
Electricite de France01/20/20170.78030.2
Credit Agricole Home Loan SFH07/21/20141.08020.2
U.S. Treasury Inflation Indexed Bonds02/15/20420.87230.2
People's Choice Home Loan Securities Trust01/25/20351.57190.2
SLM Corp. MTN05/03/20193.47060.2
Aegis Asset Backed Securities Trust 2004-603/25/20351.77040.2
U.S. Treasury Inflation Indexed Bonds07/15/20142.06310.2
Countrywide Alternative Loan Trust04/25/20376.06250.2
U.S. Treasury Inflation Indexed Bonds02/15/20430.65980.2
JPMorgan Mortgage Acquisition Trust05/25/20370.35950.2
Residential Asset Securitization Trust11/25/20366.05670.1
Banco Santander Brasil SA01/14/20164.25210.1
SLM Student Loan Trust09/15/20210.65100.1
Federal National Mortgage Association REMIC02/25/20410.85050.1
Citigroup Mortgage Loan Trust Inc.08/25/20351.04900.1
Xunta de Galicia04/03/20186.14790.1
Italy Buoni Poliennali del Tesoro09/15/20162.14600.1
Italy Buoni Poliennali Del Tesoro09/15/20212.14580.1
IndyMac Imsc Mortgage Loan Trust07/25/20470.34410.1
Alternative Loan Trust01/25/20365.54360.1
Deutsche Alt-A Securities Inc.04/25/20370.54130.1
Long Beach Mortgage Loan Trust08/25/20350.64100.1
Intesa Sanpaolo SpA01/15/20163.14100.1
Countrywide Asset-Backed Certificates08/25/20470.73370.1
Federal National Mortgage Association REMIC07/25/20370.52890.1
Federal National Mortgage Association REMIC07/25/20370.52880.1
Lehman XS Trust08/25/20460.42540.1
Morgan Stanley Mortgage Loan Trust06/25/20362.12500.1
Federal National Mortgage Association REMIC05/25/20360.62480.1
GSAMP Trust10/25/20341.82310.1
New South Wales Treasury Corp.11/20/20352.52190.1
Electricite de France01/20/20171.22000.1
Turkiye Garanti Bankasi AS04/20/20162.71970.1
JP Morgan Mortgage Trust06/25/20355.11920.1
Wood Street CLO BV03/29/20210.71900.0
Park Place Securities Inc.12/25/20341.21880.0
Alternative Loan Trust04/25/20376.01700.0
Alternative Loan Trust08/25/20366.01700.0
Magi Funding plc04/11/20210.61630.0
Italy Buoni Poliennali del Tesoro09/15/20263.11570.0
Soundview Home Loan Trust05/25/20360.41490.0
Master Asset Backed Securities Trust06/25/20360.41350.0
Saxon Asset Securities Trust06/25/20334.01270.0
Residential Asset Securitization Trust11/25/20366.21080.0
Countrywide Home Loan Mortgage Pass Through Trust04/20/20352.5760.0
Morgan Stanley ABS Capital I Inc. Trust10/25/20360.2760.0
Residential Accredit Loans Inc.06/25/20460.3590.0
Structured Asset Mortgage Investments Inc.05/25/20460.4560.0
Ares CLO Funds03/12/20180.5470.0
Washington Mutual Mortgage Pass Through Certificates09/25/20332.4440.0
Residential Asset Securitization Trust01/25/20460.6430.0
Bear Stearns Adjustable Rate Mortgage Trust08/25/20352.2100.0
Bear Stearns Adjustable Rate Mortgage Trust03/25/20352.6100.0
Bear Stearns Adjustable Rate Mortgage Trust08/25/20352.260.0
Bear Stearns Adjustable Rate Mortgage Trust03/25/20352.520.0
Interest Rate Swap Option 30 year04/14/20143.900.0
Total435,349114.3
Cash and Other Assets Less Liabilities-14.3
Total Net Assets100%

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

As of Quarter Ended 03/31/2014
Economic SectorHarbor Real Return Fund %
U.S. Government Obligations98.1
Foreign Government Obligations6.5
Corporate Bonds & Notes3.9
Collateralized Mortgage Obligations3.1
Asset-backed Securities2.3
Mortgage Pass-through0.6
Purchased Options0.0

Maturity Profile (As of Quarter Ended 12/31/2013)

As of Quarter Ended 12/31/2013
MaturityHarbor Real Return Fund %Barclays U.S. TIPS Index %
0-1 yr0.00.0
1-3 yr8.618.2
3-5 yr16.119.8
5-7 yr10.610.3
7-10 yr38.627.3
10-20 yr29.018.5
20-30 yr-2.96.0
Over 30 yr-0.00.0

Duration (As of Quarter Ended 12/31/2013)

As of Quarter Ended 12/31/2013
DurationHarbor Real Return Fund %Barclays U.S. TIPS Index %
0-1 yr4.50.0
1-3 yr4.720.5
3-5 yr12.519.4
5-7 yr15.012.7
7-10 yr48.123.0
10-20 yr12.424.4
20-30 yr2.80.0
Over 30 yr0.00.0

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 Barclays U.S. TIPS Index is an unmanaged market index comprised of all U.S. Treasury Inflation Protected Securities rated investment grade (Baa3 or better), have at least one year to final maturity, and at least $250 million par amount outstanding.  This unmanaged index does not reflect fees and expenses and is not available for direct investment.