Harbor Small Cap Growth Fund Administrative Class (HRSGX)

CLOSED TO NEW INVESTORS

Portfolio Characteristics (As of Quarter Ended 06/30/2014)

 Harbor Small Cap Growth FundRussell 2000® Growth Index
Number of Holdings771,163
Weighted Avg. Market Cap ($Mil)2,690.991,903.12
Median Market Cap ($Mil)2,019.76866.00
Price/Book Ratio2.994.12
Adj. Trailing P/E Ratio40.0471.21
Forecasted P/E Ratio21.2620.29
Earnings Growth Rate (%)11.3316.67
Proj. Earnings Growth Rate (%)18.8419.18
Return on Equity (%)16.8420.90
Turnover (unannualized % since 10/31)47-
Beta vs. Russell 2000® Growth Index1.06-
Beta vs. Russell 3000® Index1.41-

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

Top Ten Holdings (As of Quarter Ended 06/30/2014)

Company Name [Ticker]% of Net Assets
Watsco Inc. [WSO]2.9
Cubist Pharmaceuticals Inc. [CBST]2.7
KapStone Paper and Packaging Corp. [KS]2.6
Icon plc [ICLR]2.5
Tesoro Corp. [TSO]2.3
Restoration Hardware Holdings Inc. [RH]2.3
Team Health Holdings Inc. [TMH]2.1
Alexander & Baldwin Inc. [ALEX]2.1
Huron Consulting Group Inc. [HURN]2.1
Fortinet Inc. [FTNT]1.8
% of Total Holdings:23.4

Full Holdings (As of Quarter Ended 06/30/2014)

Company Name [Ticker]CountryCUSIPShares (000's)Current Price ($)Market Value ($000's)% of Net Assets
Watsco Inc. [WSO]US942622200180102.7618,5392.9
Cubist Pharmaceuticals Inc. [CBST]US22967810724769.8217,2442.7
KapStone Paper and Packaging Corp. [KS]US48562P10348733.1316,1282.6
Icon plc [ICLR]IEG4705A10033647.1115,8262.5
Tesoro Corp. [TSO]US88160910125058.6714,6752.3
Restoration Hardware Holdings Inc. [RH]US76128310015793.0514,6062.3
Team Health Holdings Inc. [TMH]US87817A10727049.9413,4942.1
Alexander & Baldwin Inc. [ALEX]US01449110431641.4513,1092.1
Huron Consulting Group Inc. [HURN]US44746210218470.8213,0072.1
Fortinet Inc. [FTNT]US34959E10946225.1311,6191.8
Interface Inc. [TILE]US45866530461518.8411,5931.8
PolyOne Corp. [POL]US73179P10627142.1411,4391.8
XPO Logistics Inc. [XPO]US98379310038728.6211,0861.8
Wright Medical Group Inc. [WMGI]US98235T10735331.4011,0811.8
Lithia Motors Inc. [LAD]US53679710311794.0711,0261.7
Mwi Veterinary Supply Inc. [MWIV]US55402X10575141.9910,6401.7
Interxion Holding NV [INXN]NLN4727910938127.3810,4241.6
Aegerion Pharmaceuticals Inc. [AEGR]US00767E10231832.0910,2141.6
Hexcel Corp. [HXL]US42829110824240.909,8871.6
East West Bancorp Inc. [EWBC]US27579R10428134.999,8351.6
CNO Financial Group Inc. [CNO]US12621E10354017.809,6051.5
Chemtura Corp. [CHMT]US16389320936326.139,4941.5
Oil States International Inc. [OIS]US67802610514464.099,2391.5
Cadence Design Systems Inc. [CDNS]US12738710852417.499,1591.4
Superior Energy Services Inc. [SPN]US86815710824736.148,9111.4
Anacor Pharmaceuticals Inc. [ANAC]US03242010150117.738,8771.4
Arcbest Corp. [ARCB]US03937C10520243.518,7871.4
Stifel Financial Corp. [SF]US86063010218447.358,7211.4
ExamWorks Group Inc. [EXAM]US30066A10527531.738,7131.4
Wex Inc. [WEX]US96208T10480104.978,4141.3
Herman Miller Inc. [MLHR]US60054410027730.248,3731.3
Bright Horizons Family Solutions Inc. [BFAM]US10919410019342.948,2831.3
Corporate Executive Board Co. [CEB]US21988R10211868.228,0381.3
Shutterfly Inc. [SFLY]US82568P30418543.067,9851.3
Cavium Inc. [CAVM]US14964U10815349.667,5981.2
B&G Foods Inc. [BGS]US05508R10623232.697,5741.2
Standard Pacific Corp. [SPF]US85375C1018688.607,4631.2
Masimo Corp. [MASI]US57479510031423.607,4041.2
Cogent Communications Group Inc. [CCOI]US19239V30220634.557,1221.1
Werner Enterprises Inc. [WERN]US95075510826026.516,9051.1
Ruckus Wireless Inc. [RKUS]US78122010857411.916,8381.1
Electronics For Imaging Inc. [EFII]US28608210214845.206,6881.1
Cyberonics Inc. [CYBX]US23251P10210662.466,6391.1
Steris Corp. [STE]US85915210012253.486,5481.0
Dynavax Technologies Corp. [DVAX]US2681581024,0761.606,5221.0
Prothena Corp. plc [PRTA]IEG7280010828722.556,4611.0
Sotheby's [BID]US83589810715041.996,3011.0
CoStar Group Inc. [CSGP]US22160N10939158.176,1901.0
Steelcase Inc. [SCS]US85815520340815.136,1711.0
Crocs Inc. [CROX]US22704610940415.036,0701.0
Ultimate Software Group Inc. [ULTI]US90385D10744138.176,0591.0
Navigator Holdings Ltd. [NVGS]GBY6213210820429.385,9830.9
PTC Therapeutics Inc. [PTCT]US69366J20022726.145,9360.9
LPL Financial Holdings Inc. [LPLA]US50212V10011749.745,7990.9
Western Refining Inc. [WNR]US95931910415237.555,7210.9
Power Solutions International Inc. [PSIX]US73933G2027871.975,6030.9
Fairchild Semiconductor International Inc. [FCS]US30372610335915.605,5930.9
QLIK Technologies Inc. [QLIK]US74733T10524222.625,4730.9
BGC Partners Inc. [BGCP]US05541T1017007.445,2060.8
Acadia Pharmaceuticals Inc. [ACAD]US00422510822922.595,1770.8
HomeAway Inc. [AWAY]US43739Q10014734.825,1300.8
Trinseo SA [TSE]LUL9340P10124520.805,0940.8
Benchmark Electronics Inc. [BHE]US08160H10119825.485,0530.8
Civeo Corp. [CVEO]US17878710720025.035,0080.8
Del Frisco's Restaurant Group Inc. [DFRG]US24507710217827.564,9010.8
Spansion Inc. [CODE]US84649R20022321.074,6950.7
Penn National Gaming Inc. [PENN]US70756910937512.144,5530.7
Five Below Inc. [FIVE]US33829M10110939.914,3690.7
Rackspace Hosting Inc. [RAX]US75008610012333.664,1430.7
Rush Enterprises Inc. [RUSHA]US78184620911334.673,9260.6
InvenSense Inc. [INVN]US46123D20515122.693,4320.5
Rogers Corp. [ROG]US7751331015166.353,3880.5
Cumulus Media Inc. [CMLS]US2310821084816.593,1680.5
Chemocentryx Inc. [CCXI]US16383L1064185.852,4460.4
Cornerstone Ondemand Inc. [CSOD]US21925Y1035346.022,4270.4
Extended Stay America Inc. [STAY]US30224P2007023.161,6190.3
National General Holdings Corp. [NGHC]US6362203039017.401,5660.2
A10 Networks Inc. [ATEN]US0021211014013.305300.1
Total608,56396.3
Cash and Other Assets Less Liabilities3.7
Total Net Assets100%

Sector Allocation (As of Quarter Ended 06/30/2014)

As of Quarter Ended 06/30/2014
Economic SectorHarbor Small Cap Growth Fund %Russell 2000® Growth Index %
Health Care22.721.7
Industrials18.515.3
Information Technology17.024.2
Consumer Discretionary13.515.6
Financials8.57.6
Energy7.04.5
Materials6.76.0
Consumer Staples1.23.5
Telecommunication Services1.11.0
Utilities0.00.7

Sector Returns (As of Quarter Ended 06/30/2014)

As of Quarter Ended 06/30/2014
Sector ReturnsHarbor Small Cap Growth Fund %Russell 2000® Growth Index %
Energy11.819.7
Materials11.44.8
Consumer Discretionary6.30.0
Consumer Staples5.11.8
Information Technology2.61.7
Cash0.00.0
Utilities0.018.4
Financials-0.92.8
Telecommunication Services-2.3-2.9
Industrials-2.80.2
Health Care-6.40.1

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 Russell Investments.