Harbor Small Cap Growth Fund Administrative Class (HRSGX)

Portfolio Characteristics (As of Quarter Ended 12/31/2016)

 Harbor Small Cap Growth FundRussell 2000® Growth Index
Number of Holdings761,177
Weighted Avg. Market Cap ($Mil)3,075.762,166.82
Median Market Cap ($Mil)2,393.31878.92
Price/Book Ratio4.194.09
Adj. Trailing P/E Ratio21.8223.56
Forecasted P/E Ratio21.0220.52
Earnings Growth Rate (%)19.7213.11
Proj. Earnings Growth Rate (%)14.4013.84
Return on Equity (%)10.5111.14
Turnover (unannualized % since 10/31)17-
Beta vs. Russell 2000® Growth Index0.91-
Beta vs. Russell 3000® Index1.23-

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

Top Ten Holdings (As of Quarter Ended 12/31/2016)

Company Name [Ticker]% of Net Assets
John Bean Technologies Corp. [JBT]2.8
Installed Building Products Inc. [IBP]2.3
Berry Plastics Group Inc. [BERY]2.3
Watsco Inc. [WSO]2.3
Icon plc [ICLR]2.2
Vail Resorts Inc. [MTN]2.2
Ryder System Inc. [R]2.1
Masimo Corp. [MASI]2.1
Mueller Water Products Inc. [MWA]2.0
Spirit Airlines Inc. [SAVE]1.9
% of Total Holdings:22.2

Full Holdings (As of Quarter Ended 12/31/2016)

Company Name [Ticker]CountryShares (000's)Current Price ($)Market Value ($000's)% of Net Assets
John Bean Technologies Corp. [JBT]US20185.9517,3012.8
Installed Building Products Inc. [IBP]US34841.3014,3802.3
Berry Plastics Group Inc. [BERY]US29448.7314,3422.3
Watsco Inc. [WSO]US96148.1214,2632.3
Icon plc [ICLR]IE18175.2013,6442.2
Vail Resorts Inc. [MTN]US84161.3113,5682.2
Ryder System Inc. [R]US17774.4413,1822.1
Masimo Corp. [MASI]US19167.4012,8522.1
Mueller Water Products Inc. [MWA]US94313.3112,5492.0
Spirit Airlines Inc. [SAVE]US20857.8612,0401.9
Dave & Buster's Entertainment Inc. [PLAY]US20656.3011,5781.9
Bright Horizons Family Solutions Inc. [BFAM]US16070.0211,2091.8
Nexstar Broadcasting Group Inc. [NXST]US17363.3010,9261.8
East West Bancorp Inc. [EWBC]US21450.8310,8951.7
Monolithic Power Systems Inc. [MPWR]US12681.9310,3001.7
Integra LifeSciences Holdings Corp. [IART]US11985.7910,2111.6
Ciena Corp. [CIEN]US41124.4110,0261.6
Western Refining Inc. [WNR]US25637.859,7011.6
BroadSoft Inc. [BSFT]US23441.259,6611.6
Madison Square Garden Co. [MSG]US56171.519,5401.5
Wright Medical Group NV [WMGI]NL40422.989,2941.5
FCB Financial Holdings Inc. [FCB]US19447.709,2641.5
Neurocrine Biosciences Inc. [NBIX]US23138.708,9341.4
CoStar Group Inc. [CSGP]US47188.498,8961.4
Rush Enterprises Inc. [RUSHA]US27431.908,7471.4
Electronics For Imaging Inc. [EFII]US19943.868,7451.4
Interxion Holding NV [INXN]NL24635.078,6331.4
ARRIS International plc [ARRS]GB28630.138,6061.4
Zendesk Inc. [ZEN]US40521.208,5921.4
Omnicell Inc. [OMCL]US25333.908,5711.4
Chuy's Holdings Inc. [CHUY]US25432.458,2261.3
Heico Corp. [HEI/A]US11767.907,9421.3
Fortinet Inc. [FTNT]US26330.127,9311.3
Univar Inc. [UNVR]US27128.377,6761.2
Acushnet Holdings Corp. [GOLF]US38919.717,6651.2
Pacira Pharmaceuticals Inc. [PCRX]US23632.307,6081.2
Hexcel Corp. [HXL]US14651.447,4851.2
Eldorado Resorts Inc. [ERI]US43216.957,3151.2
Brunswick Corp. [BC]US13454.547,2991.2
Orbotech Ltd. [ORBK]IL21733.417,2341.2
Cavium Inc. [CAVM]US11262.446,9801.1
Nektar Therapeutics [NKTR]US56812.276,9711.1
Commvault Systems Inc. [CVLT]US13551.406,9351.1
American Woodmark Corp. [AMWD]US9275.256,9181.1
BGC Partners Inc. [BGCP]US66610.236,8121.1
Euronet Worldwide Inc. [EEFT]US9272.436,6621.1
Ultimate Software Group Inc. [ULTI]US36182.356,6041.1
Herman Miller Inc. [MLHR]US19234.206,5611.1
Lions Gate Entertainment Corp. Class B [LGF/B]CA26624.546,5271.0
Ariad Pharmaceuticals Inc. [ARIA]US52012.446,4711.0
Cullen/Frost Bankers Inc. [CFR]US7388.236,4441.0
Microsemi Corp. [MSCC]US11753.976,3031.0
National Storage Affiliates Trust [NSA]US28522.076,2791.0
DexCom Inc. [DXCM]US10459.706,1931.0
Multi-Color Corp. [LABL]US7977.606,1251.0
Tableau Software Inc. [DATA]US14442.156,0511.0
Four Corners Property Trust Inc. [FCPT]US29020.525,9561.0
Matson Inc. [MATX]US16635.395,8590.9
Proofpoint Inc. [PFPT]US8370.655,8420.9
Isle of Capri Casinos Inc. [ISLE]US23524.695,7960.9
WNS Holdings Ltd. ADR [WNS]JE20627.555,6660.9
Marketaxess Holdings Inc. [MKTX]US37146.925,4550.9
Prothena Corp. plc [PRTA]IE10949.195,3790.9
Siteone Landscape Supply Inc. [SITE]US15034.735,2210.8
Huron Consulting Group Inc. [HURN]US10150.655,1060.8
Acceleron Pharma Inc. [XLRN]US19425.524,9400.8
Cardiome Pharma Corp. [CRME]CA1,7682.764,8800.8
Merrimack Pharmaceuticals Inc. [MACK]US1,0634.084,3360.7
Aclaris Therapeutics Inc. [ACRS]US15627.144,2350.7
Inphi Corp. [IPHI]US9244.624,1150.7
Genesco Inc. [GCO]US5862.103,6300.6
Marten Transport Ltd. [MRTN]US15323.303,5550.6
MGIC Investment Corp. [MTG]US30410.193,0960.5
Alder Biopharmaceuticals Inc. [ALDR]US14120.802,9420.5
Community Healthcare Trust Inc. [CHCT]US11223.032,5760.4
Lions Gate Entertainment Corp. Class A [LGF/A]CA5226.901,3870.2
Total601,63996.8
Cash and Other Assets Less Liabilities3.2
Total Net Assets100%

Sector Allocation (As of Quarter Ended 12/31/2016)

As of Quarter Ended 12/31/2016
Economic SectorHarbor Small Cap Growth Fund %Russell 2000® Growth Index %
Information Technology23.124.4
Industrials22.616.8
Consumer Discretionary19.115.4
Health Care18.920.9
Financials6.75.8
Real Estate2.45.3
Materials2.35.2
Energy1.61.4
Utilities0.00.8
Telecommunication Services0.00.8
Consumer Staples0.03.1

Sector Returns (As of Quarter Ended 12/31/2016)

As of Quarter Ended 12/31/2016
Sector ReturnsHarbor Small Cap Growth Fund %Russell 2000® Growth Index %
Financials20.718.7
Consumer Discretionary11.47.7
Industrials10.311.2
Real Estate3.43.0
Materials1.48.0
Cash0.10.0
Consumer Staples0.03.4
Telecommunication Services0.012.4
Utilities0.09.0
Energy-2.16.6
Information Technology-4.61.7
Health Care-8.9-6.9

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 Russell 2000® Growth Index is an unmanaged index representing the smallest 2000 stocks with the highest price-to-book ratio and future earnings. This unmanaged index does not reflect fees and expenses and is not available for direct investment. The Russell 2000® Growth Index and Russell® are trademarks of Frank Russell Company.