Harbor Commodity Real Return Strategy Fund Institutional Class (HACMX)

Portfolio Characteristics (As of Quarter Ended 06/30/2016)

 Harbor Commodity Real Return Strategy FundBloomberg Commodity Index Total ReturnSM
Number of Issues123-
Average Market Coupon (%)1.29-
Yield to Maturity (%)1.77-
Weighted Avg. Maturity (yrs)3.35-
Weighted Avg. Duration (yrs)3.01-

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

Top Ten Holdings (As of Quarter Ended 06/30/2016)

SecuritiesMaturity DateCoupon Rate (%)Market Value ($000's)% of Net Assets
U.S. Treasury Inflation Indexed Bonds04/15/20180.117,77521.5
U.S. Treasury Inflation Indexed Bonds07/15/20191.97,7639.4
U.S. Treasury Inflation Indexed Bonds07/15/20210.67,6959.3
U.S. Treasury Inflation Indexed Bonds07/15/20201.25,8137.0
Federal National Mortgage Association TBA08/11/20463.54,2155.1
U.S. Treasury Inflation Indexed Bonds07/15/20240.13,9784.8
U.S. Treasury Notes05/15/20261.62,5323.1
U.S. Treasury Inflation Indexed Bonds07/15/20181.42,4453.0
Brazil Letras Do Tesouro Nacional01/01/20170.02,4192.9
U.S. Treasury Inflation Indexed Bonds01/15/20252.42,3672.9
% of Total Holdings:57,00269.0

Full Holdings (As of Quarter Ended 06/30/2016)

SecuritiesMaturity DateCoupon Rate (%)Market Value ($000's)% of Net Assets
U.S. Treasury Inflation Indexed Bonds04/15/20180.117,77521.5
U.S. Treasury Inflation Indexed Bonds07/15/20191.97,7639.4
U.S. Treasury Inflation Indexed Bonds07/15/20210.67,6959.3
U.S. Treasury Inflation Indexed Bonds07/15/20201.25,8137.0
Federal National Mortgage Association TBA08/11/20463.54,2155.1
U.S. Treasury Inflation Indexed Bonds07/15/20240.13,9784.8
U.S. Treasury Notes05/15/20261.62,5323.1
U.S. Treasury Inflation Indexed Bonds07/15/20181.42,4453.0
Brazil Letras Do Tesouro Nacional01/01/20170.02,4192.9
U.S. Treasury Inflation Indexed Bonds01/15/20252.42,3672.9
U.S. Treasury Inflation Indexed Bonds01/15/20240.62,1492.6
Cooperatieve Centrale Raiffeisen-Boerenleenbank BA/NY04/28/20171.02,1012.5
Brazil Letras Do Tesouro Nacional10/01/20160.02,0452.5
JP Morgan Chase & Co. MTN04/25/20181.21,8982.3
U.S. Treasury Inflation Indexed Bonds04/15/20200.11,8822.3
U.S. Treasury Inflation Indexed Bonds07/15/20172.61,8632.3
U.S. Treasury Inflation Indexed Bonds02/15/20441.41,8562.2
U.S. Treasury Bonds02/15/20462.51,6051.9
U.S. Treasury Inflation Indexed Bonds04/15/20190.11,5121.8
Telefonica Emisiones Sau06/23/20171.31,3981.7
U.S. Treasury Notes09/30/20160.51,2001.5
U.S. Treasury Inflation Indexed Bonds01/15/20292.51,1171.4
UBS Group Funding Jersey Ltd.04/14/20212.41,0111.2
Ally Financial Inc.07/18/20163.51,0011.2
Citigroup Mortgage Loan Trust Inc.09/25/20351.29541.2
New Zealand Government Bond09/20/20252.09241.1
U.S. Treasury Inflation Indexed Bonds07/15/20230.48511.0
U.K. Gilt Inflation Linked03/22/20240.18381.0
U.S. Treasury Inflation Indexed Bonds07/15/20250.47280.9
Realkredit Danmark AS04/01/20171.07230.9
Structured Asset Investment Loan Trust05/25/20360.66600.8
First Franklin Mortgage Loan Trust06/25/20361.26550.8
SLM Student Loan Trust12/15/20230.05900.7
U.S. Treasury Inflation Indexed Bonds07/15/20220.15320.6
People's Choice Home Loan Securities Trust01/25/20351.85300.6
U.S. Treasury Inflation Indexed Bonds04/15/20293.95040.6
Wachovia Mortgage Loan Trust LLC10/20/20352.84560.6
Mexican Udibonos11/22/20354.54480.5
Bear Stearns Asset Backed Securities Trust07/25/20360.94450.5
U.K. Gilt Inflation Linked03/22/20440.14450.5
Hillmark Funding Ltd.05/21/20210.94070.5
Ally Financial Inc.02/15/20175.54070.5
First Franklin Mortgage Loan Trust11/25/20351.14060.5
Goldman Sachs Group Inc.09/15/20201.93990.5
Venture CLO Ltd.01/20/20220.93860.5
Citigroup Mortgage Loan Trust Inc.08/25/20360.63700.4
Federal National Mortgage Association02/01/20414.03570.4
Small Business Administration Participation Certificates11/01/20275.53080.4
France Government Bond Oat07/25/20271.83080.4
Navient Corp. MTN11/01/20161.72970.4
Realkredit Danmark AS04/01/20172.02880.3
Realkredit Danmark AS01/01/20171.02860.3
Commercial Industrial Finance Corp.05/10/20210.92820.3
Morgan Stanley ABS Capital I Inc. Trust10/25/20360.62820.3
U.S. Treasury Inflation Indexed Bonds01/15/20272.42770.3
Nykredit Realkredit AS04/01/20172.02730.3
U.S. Treasury Inflation Indexed Bonds02/15/20461.02620.3
Stone Tower Capital LLC04/17/20210.92610.3
Credit Suisse Group Funding Guernsey Ltd.09/15/20223.82510.3
Mexican Bonos06/14/20184.82320.3
Sse plc10/01/20175.62310.3
Hellenic Railways Organization SA03/17/20174.02130.3
U.S. Treasury Inflation Indexed Bonds01/15/20230.12100.3
Barclays plc12/15/20208.02080.3
Barclays Bank plc04/10/20237.82070.3
AT&T Inc.05/15/20464.82060.2
Morgan Stanley Mortgage Loan Trust06/25/20362.52030.2
Unibail-Rodamco SE MTN04/16/20191.41990.2
Petrobras Global Finance BV05/20/20234.41630.2
Soundview Home Loan Trust05/25/20360.71620.2
Mexican Udibonos11/15/20404.01560.2
Hewlett Packard Enterprise Co.10/05/20172.41520.2
BG Energy Capital plc11/30/20726.51400.2
Realkredit Danmark AS01/01/20172.01210.1
Mexican Udibonos11/08/20464.01170.1
Autonomous Community of Catalonia02/11/20205.01160.1
MASTR Asset Backed Securities Trust06/25/20360.71140.1
National Bank of Greece SA10/07/20163.91110.1
Banco Popular Espanol SA MTN10/10/201811.51100.1
Athens Urban Transportation Organisation09/19/20164.91100.1
Mexican Bonos de Proteccion Al Ahorro06/29/20174.51060.1
AT&T Inc.05/15/20354.51030.1
Aetna Inc.12/08/20171.31000.1
AT&T Inc.06/30/20201.61000.1
Canadian Natural Resources Ltd.01/15/20181.8990.1
Thornburg Mortgage Securities Trust07/25/20363.0890.1
Petrobras Global Finance BV01/15/20193.0870.1
Marche Mutui Srl01/27/20642.0810.1
Countrywide Asset-Backed Certificates04/25/20365.5670.1
Eurosail-UK plc06/13/20451.5660.1
Morgan Stanley ABS Capital I Inc. Trust10/25/20360.5610.1
Interest Rate Swap Option 30 year06/15/20180.0610.1
Interest Rate Swap Option 30 year03/29/20190.0500.1
Marche Mutui Srl02/25/20550.2470.1
Interest Rate Swap Option 30 year06/15/20180.0370.0
U.K. Gilt Inflation Linked03/22/20580.1250.0
U.K. Gilt Inflation Linked03/22/20460.1200.0
Interest Rate Swap Option 30 year10/23/20180.0200.0
Interest Rate Swap Option 30 year10/17/20180.0190.0
Interest Rate Swap Option 2 year 2 year09/28/20160.0100.0
Interest Rate Swap Option 5 year12/13/20160.080.0
Commodity  -  Crude  Oil  Futures11/15/20170.070.0
Bayview Financial Acquisition Trust12/28/20365.760.0
Securitized Asset Backed Receivables LLC Trust08/25/20351.060.0
Interest Rate Swap Option 30 year12/10/20180.050.0
Interest Rate Swap Option 30 year11/15/20180.050.0
Commodity  -  Crude  Oil  Futures11/15/20170.050.0
Interest Rate Swap Option 10 year11/14/20160.020.0
Commodity  -  Crude  Oil  Futures11/25/20160.020.0
Commodity  -  Crude  Oil  Futures11/25/20160.020.0
Interest Rate Swap Option 1 year12/27/20160.010.0
Interest Rate Swap Option 5 year12/05/20160.000.0
U.S.  Treasury  Notes  Future  5  year08/26/20160.000.0
Interest Rate Swap Option 1 year08/08/20160.000.0
Interest Rate Swap Option 1 year07/11/20160.000.0
Interest Rate Swap Option 1 year07/05/20160.000.0
Interest Rate Swap Option 1 year07/05/20160.000.0
Interest Rate Swap Option 1 year07/05/20160.000.0
Currency  Option  U.S.  Dollar  vs.  Japanese  Yen07/07/20160.000.0
Currency  Option  U.S.  Dollar  vs.  Japanese  Yen07/07/20160.000.0
Interest Rate Swap Option 1 year07/05/20160.000.0
U.K.  LIBOR  Future 90 day12/21/20160.000.0
U.K.  LIBOR  Future 90 day06/21/20170.000.0
Total100,808121.4
Cash and Other Assets Less Liabilities-21.4
Total Net Assets100%

Sector Allocation (As of Quarter Ended 06/30/2016)

As of Quarter Ended 06/30/2016
Economic SectorHarbor Commodity Real Return Strategy Fund %
U.S. Government Obligations80.9
Corporate Bonds & Notes15.3
Foreign Government Obligations10.3
Asset-backed Securities8.4
Mortgage Pass-through5.5
Collateralized Mortgage Obligations1.1
Purchased Options0.3

Benchmark Sectors (As of Quarter Ended 06/30/2016)

As of Quarter Ended 06/30/2016
Economic SectorBloomberg Commodity Index Total ReturnSM %
Energy34.2
Grains19.3
Precious Metals15.8
Industrial Metals15.7
Softs7.7
Livestock4.8
Vegetable Oil2.5

Maturity Profile (As of Quarter Ended 06/30/2016)

As of Quarter Ended 06/30/2016
MaturityHarbor Commodity Real Return Strategy Fund %
0-1 yr7.9
1-3 yr65.2
3-5 yr26.9
5-7 yr-13.7
7-10 yr10.9
10-20 yr0.0
20-30 yr3.0
Over 30 yr-0.1

Duration (As of Quarter Ended 06/30/2016)

As of Quarter Ended 06/30/2016
DurationHarbor Commodity Real Return Strategy Fund %
0-1 yr2.8
1-3 yr34.3
3-5 yr-1.5
5-7 yr15.6
7-10 yr18.5
10-20 yr0.4
20-30 yr29.5
Over 30 yr0.4

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 Bloomberg Commodity Index Total ReturnSM is a broadly diversified index that tracks the commodities markets through commodity futures contracts.