Harbor Global Growth Fund Institutional Class (HGGAX)

Portfolio Characteristics (As of Quarter Ended 12/31/2014)

 Harbor Global Growth FundMSCI All Country World (ND) Index
Number of Holdings332,470
Weighted Avg. Market Cap ($Mil)111,621.1391,547.15
Median Market Cap ($Mil)37,696.448,855.65
Price/Book Ratio5.672.09
Adj. Trailing P/E Ratio30.3117.35
Forecasted P/E Ratio19.5314.96
Earnings Growth Rate (%)10.1310.36
Proj. Earnings Growth Rate (%)18.6111.18
Return on Equity (%)22.6013.68
Turnover (unannualized % since 10/31)19-
Beta vs. MSCI AC World Index0.97-
Beta vs. MSCI EAFE (ND) Index0.70-

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

Top Ten Holdings (As of Quarter Ended 12/31/2014)

Company Name [Ticker]% of Net Assets
ASML Holding NV [ASML]5.5
Novartis AG [NOVN]5.4
Canadian Pacific Railway Ltd. [CP]4.8
Facebook Inc. [FB]4.6
Gilead Sciences Inc. [GILD]4.5
Liberty Global plc [LBTYK]4.4
Apple Inc. [AAPL]3.9
Roche Holding AG [ROG]3.4
Sherwin-Williams Co. [SHW]3.4
Domino's Pizza Group plc [DOM]3.3
% of Total Holdings:43.2

Full Holdings (As of Quarter Ended 12/31/2014)

Company Name [Ticker]CountryShares (000's)Current Price ($)Market Value ($000's)% of Net Assets
ASML Holding NV [ASML]NL19107.832,0325.5
Novartis AG [NOVN]CH2192.741,9915.4
Canadian Pacific Railway Ltd. [CP]CA9192.591,7754.8
Facebook Inc. [FB]US2278.021,7124.6
Gilead Sciences Inc. [GILD]US1894.261,6654.5
Liberty Global plc [LBTYK]GB3448.311,6204.4
Apple Inc. [AAPL]US13110.381,4573.9
Roche Holding AG [ROG]CH5270.941,2593.4
Sherwin-Williams Co. [SHW]US5263.041,2533.4
Domino's Pizza Group plc [DOM]GB11110.921,2103.3
VISA Inc. [V]US4262.201,1483.1
Alibaba Group Holding Ltd. ADR [BABA]CN11103.941,0922.9
Actavis plc [ACT]IE4257.411,0872.9
Monsanto Co. [MON]US9119.471,0262.8
Nike Inc. [NKE]US1096.151,0082.7
Starwood Hotels & Resorts Worldwide Inc. [HOT]US1281.079972.7
Tata Motors Ltd. ADR [TTM]IN2342.289822.6
Biogen Idec Inc. [BIIB]US3339.459632.6
Walt Disney Co. [DIS]US994.198832.4
General Dynamics Corp. [GD]US6137.628782.4
ARM Holdings plc [ARM]GB5115.367862.1
UnitedHealth Group Inc. [UNH]US8101.097592.0
FleetCor Technologies Inc. [FLT]US5148.717452.0
BAE Systems plc [BA.]GB997.317211.9
Tesla Motors Inc. [TSLA]US3222.416961.9
UCB SA [UCB]BE976.046471.7
Pacira Pharmaceuticals Inc. [PCRX]US788.665881.6
Hermes International [RMS]FR2356.085841.6
Safran SA [SAF]FR861.695201.4
Juno Therapeutics Inc. [JUNO]US1052.225191.4
Bayerische Motoren Werke AG [BMW]DE2107.922700.7
LinkedIn Corp. [LNKD]US1229.711870.5
LKQ Corp. [LKQ]US628.121700.5
Total33,23089.6
Cash and Other Assets Less Liabilities10.4
Total Net Assets100%

Sector Allocation (As of Quarter Ended 12/31/2014)

As of Quarter Ended 12/31/2014
Economic SectorHarbor Global Growth Fund %MSCI All Country World (ND) Index %
Health Care25.511.6
Information Technology24.713.9
Consumer Discretionary22.712.1
Industrials10.510.5
Materials6.15.4
Energy0.08.0
Consumer Staples0.09.7
Utilities0.03.4
Telecommunication Services0.03.8
Financials0.021.8

Sector Returns (As of Quarter Ended 12/31/2014)

As of Quarter Ended 12/31/2014
Sector ReturnsHarbor Global Growth Fund %MSCI All Country World (ND) Index %
Materials13.8-5.6
Consumer Staples12.93.1
Information Technology6.54.0
Consumer Discretionary6.25.7
Cash0.10.0
Financials0.01.6
Telecommunication Services0.0-2.9
Utilities0.03.5
Industrials-0.11.1
Health Care-4.13.0
Energy-20.7-15.4

Country Allocation (As of Quarter Ended 12/31/2014)

As of Quarter Ended 12/31/2014
CountryHarbor Global Growth Fund %MSCI All Country World (ND) Index %
United States44.952.3
United Kingdom11.77.3
Switzerland8.83.1
Netherlands5.51.1
Canada4.83.6
France3.03.1
China2.91.6
Ireland2.90.1
India2.60.7
Belgium1.70.4
Other11.226.7

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