Harbor Unconstrained Bond Fund Institutional Class (HAUBX)

Portfolio Characteristics (As of Quarter Ended 06/30/2015)

 Harbor Unconstrained Bond FundBofA Merrill Lynch US Dollar 3-Month LIBOR Constant Maturity Index
Number of Issues173-
Average Market Coupon (%)2.20-
Yield to Maturity (%)1.87-
Weighted Avg. Maturity (yrs)2.490
Weighted Avg. Duration (yrs)-0.270.25

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

Top Ten Holdings (As of Quarter Ended 06/30/2015)

SecuritiesMaturity DateCoupon Rate (%)Market Value ($000's)% of Net Assets
U.S. Treasury Inflation Indexed Bonds01/15/20262.01,2364.3
Volkswagen International Finance NV11/20/20151.21,2034.2
American International Group Inc.08/24/20152.41,0023.5
U.S. Treasury Notes09/30/20212.18082.8
U.S. Treasury Inflation Indexed Bonds01/15/20250.27852.7
Bear Stearns Asset Backed Securities Trust09/25/20460.67552.6
U.S. Treasury Notes11/30/20211.96962.4
Brazil Letras Do Tesouro Nacional10/01/20150.06212.1
Brazil Notas Do Tesouro Nacional Série F01/01/202510.05852.0
Bear Stearns Alt-A Trust08/25/20360.55401.9
% of Total Holdings:8,23128.5

Full Holdings (As of Quarter Ended 06/30/2015)

SecuritiesMaturity DateCoupon Rate (%)Market Value ($000's)% of Net Assets
U.S. Treasury Inflation Indexed Bonds01/15/20262.01,2364.3
Volkswagen International Finance NV11/20/20151.21,2034.2
American International Group Inc.08/24/20152.41,0023.5
U.S. Treasury Notes09/30/20212.18082.8
U.S. Treasury Inflation Indexed Bonds01/15/20250.27852.7
Bear Stearns Asset Backed Securities Trust09/25/20460.67552.6
U.S. Treasury Notes11/30/20211.96962.4
Brazil Letras Do Tesouro Nacional10/01/20150.06212.1
Brazil Notas Do Tesouro Nacional Série F01/01/202510.05852.0
Bear Stearns Alt-A Trust08/25/20360.55401.9
First Franklin Mortgage Loan Trust10/25/20341.64931.7
U.S. Treasury Inflation Indexed Bonds07/15/20240.14871.7
RASC Trust06/25/20330.84851.7
Italy Buoni Poliennali Del Tesoro12/01/20242.54551.6
Ally Financial Inc.02/15/20175.54181.4
Government National Mortgage Association TBA07/22/20433.54151.4
Asset Backed Securities Corp.07/25/20350.94081.4
JP Morgan Chase & Co.03/01/20163.44071.4
U.S. Treasury Bonds08/15/20443.14011.4
Abbvie Inc.11/06/20151.04011.4
Metropolitan Life Global Funding I06/23/20160.44001.4
Ford Motor Credit Co. LLC MTN01/17/20171.14001.4
General Mills Inc.01/29/20160.64001.4
Anglo American Capital plc04/15/20161.23991.4
Imperial Tobacco Finance plc02/11/20182.03981.4
Morgan Stanley ABS Capital I Inc. Trust01/25/20370.33911.4
BP Capital Markets plc11/06/20150.63801.3
Fremont Home Loan Trust11/25/20350.63671.3
Countrywide Asset-Backed Certificates11/25/20470.43621.3
Countrywide Asset-Backed Certificates08/25/20370.33611.2
Countrywide Asset-Backed Certificates06/25/20470.43611.2
Wachovia Bank Commercial Mortgage Trust06/15/20495.93521.2
Bank of America Corp.12/01/20175.83271.1
Ford Motor Credit Co. LLC04/15/20164.23071.1
International Lease Finance Corp.09/15/20158.63041.1
U.S. Treasury Notes05/31/20212.03021.0
Sberbank of Russia Via SB Capital SA07/07/20155.53001.0
JP Morgan Chase & Co. MTN10/15/20151.13001.0
Pricoa Global Funding I MTN05/16/20160.43001.0
Tralee CLO III Ltd.07/20/20261.62981.0
Oha Credit Partners VIII Ltd.04/20/20251.42981.0
Goldentree Loan Opportunities VII Ltd.04/25/20251.42971.0
Italy Buoni Poliennali del Tesoro09/01/20405.02861.0
Italy Buoni Poliennali Del Tesoro03/01/20255.02740.9
Brazil Letras Do Tesouro Nacional01/01/20170.02640.9
Sumitomo Mitsui Banking Corp.04/29/20160.62500.9
Brazil Letras Do Tesouro Nacional07/01/20170.02490.9
Sierra Madre Funding Ltd.09/07/20390.62480.9
New York City, NY12/01/20245.92410.8
JP Morgan Mortgage Trust04/25/20362.82360.8
KBC Bank NV01/25/20238.02190.8
Slovenia Government International Bond02/18/20245.22190.8
BPCE SA07/21/20245.22040.7
Ally Financial Inc.07/18/20163.52040.7
CIT Group Inc.08/15/20174.22040.7
Verizon Communications Inc.09/15/20161.82030.7
Gazprom OAO Via Gaz Capital SA11/29/20155.12030.7
Bank of America Corp.01/11/20182.02010.7
NBCUniversal Enterprise Inc.04/15/20160.82010.7
Volkswagen Group of America Finance LLC05/23/20160.52000.7
Sinopec Group Overseas Development 2014 Ltd.04/10/20171.12000.7
JP Morgan Mortgage Acquisition Trust05/25/20360.41790.6
U.S. Treasury Inflation Indexed Bonds01/15/20252.41480.5
Washington Mutual Mortgage Pass Through Certificates Trust04/25/20374.51470.5
California State11/01/20407.61460.5
Morgan Stanley Capital I Trust04/15/20495.71220.4
Spain Government Bond10/31/20242.81160.4
Credit Agricole SA04/29/20496.51120.4
SLM Corp. MTN06/15/20188.41110.4
SLM Student Loan Trust05/16/20443.41110.4
Bank of America Corp. MTN08/28/20176.41100.4
Verizon Communications Inc.09/15/20235.21100.4
International Lease Finance Corp.03/15/20178.81100.4
Berica ABS Srl12/31/20550.31090.4
Credit-Based Asset Servicing and Securitization LLC03/25/20376.01090.4
Credit-Based Asset Servicing and Securitization LLC03/25/20375.71080.4
Sierra Madre Funding Ltd.09/07/20390.61060.4
COX Communications Inc.12/01/20165.91060.4
Bank of America Corp.08/01/20166.51060.4
MGM Resorts International04/01/20166.91040.4
Abbey National Treasury Services plc04/27/20164.01020.4
Kroger Co.01/15/20172.21010.4
Actavis Funding SCS03/12/20201.51010.4
JP Morgan Chase & Co.01/25/20181.21010.3
Morgan Stanley02/25/20161.81000.3
Citigroup Inc.07/25/20161.21000.3
AES Corp.06/01/20193.31000.3
Bank of America Corp. MTN03/22/20161.11000.3
JP Morgan Chase & Co. MTN02/26/20160.91000.3
Mylan Inc.06/24/20161.81000.3
Wells Fargo & Co.10/28/20150.51000.3
Bank of America Corp.08/15/20160.61000.3
Abbvie Inc.05/14/20202.5990.3
Petrobras Global Finance BV03/17/20172.6980.3
U.S. Treasury Bonds11/15/20443.0980.3
Petrobras Global Finance BV01/27/20215.4960.3
AT&T Inc.05/15/20464.8910.3
Morgan Stanley Capital I Inc. Trust01/25/20360.5900.3
Brazil Notas do Tesouro Nacional Série F01/01/202110.0870.3
Washington Mutual Mortgage Pass Through Certificates Trust03/25/20372.1850.3
Federal National Mortgage Association11/01/20422.8790.3
Buckeye Tobacco Settlement Financing Authority06/01/20426.0790.3
Countrywide Asset-Backed Certificates07/25/20365.9780.3
Buckeye Tobacco Settlement Financing Authority06/01/20475.9780.3
Merrill Lynch Mortgage Investors Trust01/25/20291.9750.3
Spain Government Bond10/31/20445.2750.3
Morgan Stanley ABS Capital I Inc. Trust10/25/20360.3670.2
Stone Tower Capital LLC04/17/20210.5660.2
Kraft Heinz Foods Co.06/05/20203.2660.2
Hellenic Railways Organization SA03/17/20174.0600.2
Wachovia Bank Commercial Mortgage Trust07/15/20455.7590.2
Federal Home Loan Mortgage Corp. REMIC04/15/204411.6570.2
Triaxx Prime CLO10/02/20390.4560.2
Banc of America Funding Trust06/20/20470.4560.2
Avoca CLO III plc09/15/20210.3540.2
Morgan Stanley ABS Capital I Inc. Trust11/25/20360.3540.2
BCAP LLC Trust06/26/20365.2520.2
Wachovia Bank Commercial Mortgage Trust02/15/20516.1520.2
Securitized Asset Backed Receivables LLC Trust02/25/20341.0510.2
Federal Home Loan Mortgage Corp. REMIC02/15/204413.0470.2
Citigroup Mortgage Loan Trust Inc.08/25/20350.0470.2
Ownit Mortgage Loan Asset Backed Certificates05/25/20370.3470.2
Huntington CLO Ltd.11/05/20400.5470.2
Structured Asset Securities Corp.09/25/20355.5460.2
Washington Mutual Mortgage Pass Through Certificates Trust07/25/20450.5440.2
Belle Haven ABS CLO Ltd.11/03/20440.7410.1
Structured Asset Investment Loan Trust10/25/20350.5380.1
ACE Securities Corp. Home Equity Loan Trust08/25/20360.3360.1
Granite Mortgages plc09/20/20441.0340.1
Indymac Residential Asset Backed Trust07/25/20370.3330.1
American Home Mortgage Assets Trust09/25/20461.1320.1
Bear Stearns Adjustable Rate Mortgage Trust08/25/20352.3300.1
First Horizon Mortgage Pass Through Trust10/25/20352.6290.1
Interest Rate Swap Option 30 year11/27/20170.0290.1
Interest Rate Swap Option 30 year10/27/20170.0280.1
Federal National Mortgage Association REMIC03/25/20340.3230.1
Belle Haven ABS CLO Ltd.11/03/20440.6200.1
Impac CMB Trust09/25/20340.8200.1
JP Morgan Chase Commercial Mortgage Securities Trust05/15/20455.4200.1
Banc of America Alternative Loan Trust04/25/20335.8190.1
Banc of America Funding Trust06/20/20322.6140.0
Bear Stearns Adjustable Rate Mortgage Trust03/25/20352.7130.0
Interest Rate Swap Option 3 year 1 year02/18/20160.0130.0
Interest Rate Swap Option 3 year 1 year02/04/20160.0130.0
Newcastle CLO V Ltd.12/24/20390.6130.0
Federal National Mortgage Association02/01/20264.5120.0
Washington Mutual Mortgage Pass Through Certificates Trust04/25/20450.4110.0
Ally Financial Inc.05/15/20168.5100.0
MASTR Adjustable Rate Mortgages Trust05/25/20342.2100.0
JP Morgan Mortgage Trust06/25/20215.9100.0
IndyMac IMSC Mortgage Loan Trust10/25/20342.590.0
Federal Home Loan Mortgage Corp.10/25/20211.780.0
Interest Rate Swap Option 2 year12/01/20150.070.0
Federal National Mortgage Association07/01/20322.370.0
JP Morgan Alternative Loan Trust07/25/20360.360.0
Bear Stearns Adjustable Rate Mortgage Trust01/25/20352.660.0
Interest Rate Swap Option 2 year12/16/20150.060.0
Interest Rate Swap Option 2 year01/06/20160.050.0
Interest Rate Swap Option 2 year12/01/20150.040.0
Granite Mortgages plc01/20/20440.430.0
Currency Option U.S. Dollar vs. Japanese Yen08/24/20150.030.0
Interest Rate Swap Option 2 year12/01/20150.020.0
Currency Option U.S. Dollar vs. Chinese Yuan02/02/20160.010.0
Currency Option U.S. Dollar vs. Chinese Yuan02/02/20160.000.0
U.S. Treasury Notes 10 year Future08/21/20150.000.0
U.S. Treasury Notes 10 year Future08/21/20150.000.0
Interest Rate Floor Option11/24/20150.000.0
Currency Option U.S. Dollar vs. Chinese Yuan02/02/20160.000.0
Currency Option U.S. Dollar vs. Chinese Yuan02/02/20160.000.0
Currency Option U.S. Dollar vs. Chinese Yuan02/02/20160.000.0
Currency Option U.S. Dollar vs. Chinese Yuan02/02/20160.000.0
Currency Option U.S. Dollar vs. Chinese Yuan02/02/20160.000.0
Currency Option U.S. Dollar vs. Chinese Yuan02/02/20160.000.0
Total30,840106.3
Cash and Other Assets Less Liabilities-6.3
Total Net Assets100%

Sector Allocation (As of Quarter Ended 06/30/2015)

As of Quarter Ended 06/30/2015
Economic SectorHarbor Unconstrained Bond Fund %
Corporate Bonds & Notes42.2
Asset-backed Securities22.6
U.S. Government Obligations17.2
Foreign Government Obligations11.2
Collateralized Mortgage Obligations7.9
Mortgage Pass-through2.2
Municipal Bonds1.9
Certificates Of Deposit0.9
Purchased Options0.4
Bank Loan Obligations0.2

Maturity Profile (As of Quarter Ended 06/30/2015)

As of Quarter Ended 06/30/2015
MaturityHarbor Unconstrained Bond Fund %
0-1 yr159.8
1-3 yr-78.2
3-5 yr8.6
5-7 yr-2.3
7-10 yr16.2
10-20 yr-8.5
20-30 yr3.8
Over 30 yr0.6

Duration (As of Quarter Ended 06/30/2015)

As of Quarter Ended 06/30/2015
DurationHarbor Unconstrained Bond Fund %
0-1 yr36.7
1-3 yr176.1
3-5 yr41.2
5-7 yr-166.4
7-10 yr96.4
10-20 yr-70.6
20-30 yr-13.5
Over 30 yr0.0

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.