Harbor Unconstrained Bond Fund Institutional Class (HAUBX)

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

 Harbor Unconstrained Bond FundBofA Merrill Lynch US Dollar 3-Month LIBOR Constant Maturity Index
Number of Bonds122-
Average Market Coupon (%)1.19-
Yield to Maturity (%)3.14-
Weighted Avg. Maturity (yrs)4.380.25
Weighted Avg. Duration (yrs)5.250.25

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

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

SecuritiesMaturity DateCoupon Rate (%)Market Value ($000's)% of Net Assets
U.S. Treasury Floating Rate Note01/31/20160.14,79711.7
Italy Buoni Poliennali del Tesoro07/15/20154.52,4576.0
Italy Buoni Poliennali del Tesoro08/01/20153.82,4375.9
Countrywide Asset-Backed Certificates09/25/20360.41,7094.2
Federal National Mortgage Association TBA04/16/20274.01,0582.6
American International Group Inc.08/24/20152.41,0202.5
Mexico Cetes04/16/20140.09332.3
Mexico Cetes08/21/20140.08011.9
Bear Stearns Asset Backed Securities Trust09/25/20460.67881.9
Spain Government Bond07/30/20154.07191.7
% of Total Holdings:16,71940.7

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

SecuritiesMaturity DateCoupon Rate (%)Market Value ($000's)% of Net Assets
U.S. Treasury Floating Rate Note01/31/20160.14,79711.7
Italy Buoni Poliennali del Tesoro07/15/20154.52,4576.0
Italy Buoni Poliennali del Tesoro08/01/20153.82,4375.9
Countrywide Asset-Backed Certificates09/25/20360.41,7094.2
Federal National Mortgage Association TBA04/16/20274.01,0582.6
American International Group Inc.08/24/20152.41,0202.5
Mexico Cetes04/16/20140.09332.3
Mexico Cetes08/21/20140.08011.9
Bear Stearns Asset Backed Securities Trust09/25/20460.67881.9
Spain Government Bond07/30/20154.07191.7
Mexico Cetes09/04/20140.06791.7
First Franklin Mortgage Loan Trust10/25/20341.64431.1
Ally Financial Inc.02/15/20175.54361.1
Spain Government Bond04/30/20153.04241.0
Community Health Systems Inc.08/15/20185.14211.0
JP Morgan Chase & Co.03/01/20163.44191.0
Philip Morris International Inc.05/16/20162.54151.0
Verizon Communications Inc.09/15/20162.54141.0
Illinois State01/01/20154.44111.0
Ford Motor Credit Co. LLC05/15/20152.84081.0
Morgan Stanley ABS Capital I01/25/20370.24071.0
Ford Motor Credit Co. LLC MTN01/17/20171.04021.0
Wachovia Bank Commercial Mortgage Trust06/15/20495.73991.0
U.S. Treasury Inflation Indexed Bonds07/15/20201.23470.8
Bank of America Corp.12/01/20175.83400.8
International Lease Finance Corp.09/15/20158.63320.8
Ford Motor Credit Co. LLC04/15/20164.23180.8
Countrywide Asset-Backed Certificates08/25/20370.33110.8
CIT Group Inc.02/15/20154.83090.8
Countrywide Asset-Backed Certificates06/25/20470.33080.8
JP Morgan Chase & Co. MTN10/15/20151.13010.7
Sierra Madre Funding Ltd.09/07/20390.62840.7
JP Morgan Mortgage Trust04/25/20362.72840.7
Avoca Capital09/15/20210.72750.7
Mexico Cetes06/26/20140.02580.6
New York City NY12/01/20245.92380.6
Mexico Cetes05/22/20140.02290.6
Ally Financial Inc.07/18/20163.52070.5
UnitedHealth Group Inc.08/28/20140.42000.5
Bank of America Corp.01/11/20182.02000.5
U.S. Treasury Inflation Indexed Bonds01/15/20230.11960.5
Washington Mutual Mortgage Pass Through Certificates04/25/20374.71810.4
Berica ABS Srl12/30/20550.61800.4
JP Morgan Mortgage Acquisition Corp.05/25/20360.41660.4
Mexico Cetes08/07/20140.01510.4
Slovenia Government Bond11/01/20164.71500.4
Merrill Lynch Mortgage Investors Trust01/25/20291.91490.4
Morgan Stanley Capital I Trust04/15/20495.71420.3
Federal National Mortgage Association08/01/20222.51420.3
California State11/01/20407.61410.3
SLM Student Loan Trust05/16/20443.41400.3
Italy Certificati di Credito del Tesoro06/30/20150.01370.3
Sierra Madre Funding Ltd.09/07/20390.51230.3
Merrill Lynch & Co. Inc. MTN08/28/20176.41150.3
Credit-Based Asset Servicing and Securitization LLC03/25/20374.31130.3
Bank of America Corp.08/01/20166.51120.3
Credit-Based Asset Servicing and Securitization LLC03/25/20374.31120.3
COX Communications Inc.12/01/20165.91120.3
HCA Inc.02/15/20207.91070.3
Verizon Communications Inc.09/14/20183.61070.3
Abbey National Treasury Services plc04/27/20164.01060.3
CIT Group Inc.08/15/20174.21050.3
HCA Inc.04/15/20198.51050.3
Citigroup Inc.01/15/20156.01040.3
Ally Financial Inc.06/26/20154.61040.3
COX Communications Inc.12/15/20145.41030.3
Verizon Communications Inc.09/15/20161.81030.3
International Lease Finance Corp.09/01/20146.51030.2
Kroger Co.01/15/20172.21020.2
Citigroup Inc.07/25/20161.21010.2
Ally Financial Inc.06/20/20143.61010.2
Petrobras Global Finance BV03/17/20172.61010.2
JP Morgan Chase & Co. MTN02/26/20160.91010.2
Goldman Sachs Group Inc.01/12/20150.71000.2
Banque PSA Finance SA04/04/20142.11000.2
Volkswagen International Finance NV04/01/20141.91000.2
HJ Heinz Co.06/05/20203.51000.2
U.S. Treasury Inflation Indexed Bonds07/15/20230.4990.2
Washington Mutual Mortgage Pass Through Certificates03/25/20372.1990.2
Bank of America Corp.08/15/20160.6990.2
Stone Tower Capital LLC04/17/20210.5980.2
Brazil Letras Do Tesouro Nacional01/01/20170.0950.2
Wachovia Bank Commercial Mortgage Trust02/15/20516.0950.2
JP Morgan Chase Commercial Mortgage Securities Trust05/15/20455.4920.2
Federal National Mortgage Association11/01/20422.8910.2
Granite Mortgages plc09/20/20440.9900.2
Morgan Stanley ABS Capital I01/25/20360.4830.2
Buckeye Tobacco Settlement Financing Authority06/01/20426.0810.2
Buckeye Tobacco Settlement Financing Authority06/01/20475.9810.2
Mexico Cetes07/24/20140.0760.2
Huntington CLO Ltd.11/05/20400.5750.2
Mexican Bonos06/10/20216.5740.2
Banc of America Funding Corp.06/20/20470.4710.2
Countrywide Asset-Backed Certificates07/25/20365.4700.2
Triaxx Prime CLO10/02/20390.4700.2
Newcastle CLO V Ltd.12/24/20390.6670.2
Citigroup Mortgage Loan Trust Inc.08/25/20351.7650.2
Wachovia Bank Commercial Mortgage Trust07/15/20455.7620.2
BCAP LLC Trust06/26/20365.2610.1
Structured Asset Securities Corp.09/25/20355.5610.1
Securitized Asset Backed Receivables LLC Trust02/25/20340.9570.1
Morgan Stanley ABS Capital I11/25/20360.3570.1
Wynn Las Vegas LLC08/15/20207.8560.1
Washington Mutual Mortgage Pass Through Certificates07/25/20450.5520.1
Structured Asset Investment Loan Trust10/25/20350.5500.1
Ownit Mortgage Loan Asset Backed Certificates05/25/20370.3470.1
Belle Haven ABS CLO Ltd.11/03/20440.6420.1
Bear Stearns Adjustable Rate Mortgage Trust08/25/20352.2400.1
First Horizon Asset Securities Inc.10/25/20352.6340.1
Indymac Residential Asset Backed Trust07/25/20370.3340.1
American Home Mortgage Assets Trust09/25/20461.1330.1
Wachovia Bank Commercial Mortgage Trust06/15/20200.2320.1
Mexico Cetes06/12/20140.0300.1
Federal National Mortgage Association REMIC03/25/20340.3290.1
Banc of America Alternative Loan Trust04/25/20335.8260.1
Ally Financial Inc.05/15/20168.5250.1
Impac CMB Trust09/25/20340.8220.1
Belle Haven ABS CLO Ltd.11/03/20440.6210.1
JP Morgan Alternative Loan Trust07/25/20360.3190.0
Bear Stearns Adjustable Rate Mortgage Trust03/25/20355.2180.0
Banc of America Funding Corp.06/20/20322.7150.0
Federal National Mortgage Association02/01/20264.5140.0
JP Morgan Mortgage Trust06/25/20215.9130.0
Washington Mutual Mortgage Pass Through Certificates04/25/20450.4120.0
Indymac Index Mortgage Loan Trust10/25/20342.5110.0
MASTR Adjustable Rate Mortgages Trust05/25/20342.2100.0
Citibank Collateral12/31/20302.7100.0
Bear Stearns Adjustable Rate Mortgage Trust01/25/20352.7100.0
Federal Home Loan Mortgage Corp.10/25/20211.690.0
Granite Mortgages plc01/20/20440.790.0
Federal National Mortgage Association07/01/20322.380.0
Total34,35383.4
Cash and Other Assets Less Liabilities16.6
Total Net Assets100%

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

As of Quarter Ended 03/31/2014
Economic SectorHarbor Unconstrained Bond Fund %
Foreign Government Obligations23.5
Corporate Bonds & Notes19.3
Asset-backed Securities14.5
U.S. Government Obligations13.2
Collateralized Mortgage Obligations5.8
Mortgage Pass-through3.3
Municipal Bonds2.3
Financials1.4
Bank Loan Obligations0.2
Cash Collaterals0.0

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

As of Quarter Ended 12/31/2013
MaturityHarbor Unconstrained Bond Fund %BofA Merrill Lynch US Dollar 3-Month LIBOR Constant Maturity Index %
0-1 yr11.80.0
1-3 yr53.70.0
3-5 yr31.50.0
5-7 yr4.60.0
7-10 yr-1.80.0
10-20 yr0.60.0
20-30 yr-0.60.0
Over 30 yr0.20.0

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

As of Quarter Ended 12/31/2013
DurationHarbor Unconstrained Bond Fund %BofA Merrill Lynch US Dollar 3-Month LIBOR Constant Maturity Index %
0-1 yr53.00.0
1-3 yr19.30.0
3-5 yr40.70.0
5-7 yr3.60.0
7-10 yr2.30.0
10-20 yr-10.30.0
20-30 yr-8.60.0
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. Aggregate Bond Index is an unmanaged index of investment-grade fixed-rate debt issues with maturities of at least one year. This unmanaged index does not reflect fees and expenses and is not available for direct investment.

The BofA Merrill Lynch US Dollar 3-Month LIBOR Constant Maturity Index tracks the performance of a synthetic asset paying Libor to a stated maturity. The index is based on the assumed purchase at par of a synthetic instrument having exactly its stated maturity and with a coupon equal to that day's fixing rate. That issue is assumed to be sold the following business day (priced at a yield equal to the current day fixing rate) and rolled into a new instrument.