Harbor International Fund Administrative Class (HRINX)

Portfolio Characteristics (As of Quarter Ended 03/31/2015)

 Harbor International FundMSCI EAFE (ND) Index
Number of Holdings74910
Weighted Avg. Market Cap ($Mil)67,305.1761,748.53
Median Market Cap ($Mil)31,737.359,142.86
Price/Book Ratio2.071.77
Adj. Trailing P/E Ratio17.5217.36
Forecasted P/E Ratio16.4215.78
Earnings Growth Rate (%)12.0610.96
Proj. Earnings Growth Rate (%)11.2910.17
Return on Equity (%)12.1110.51
Turnover (unannualized % since 10/31)8-
Beta vs. MSCI EAFE (ND) Index0.92-

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

Top Ten Holdings (As of Quarter Ended 03/31/2015)

Company Name [Ticker]% of Net Assets
Novo Nordisk AS [NOVOB]3.2
Fanuc Corp. [6954]3.0
Novartis AG [NOVN]2.8
Roche Holding AG [ROG]2.7
Schneider Electric SE [SU]2.7
AXA SA [CS]2.6
Lloyds Banking Group plc [LLOY]2.6
Banco Bilbao Vizcaya Argentaria SA [BBVA]2.5
Rolls-Royce Holdings plc [RR.]2.4
SAP SE [SAP]2.3
% of Total Holdings:26.8

Full Holdings (As of Quarter Ended 03/31/2015)

Company Name [Ticker]CountryShares (000's)Current Price ($)Market Value ($000's)% of Net Assets
Novo Nordisk AS [NOVOB]DK28,58953.381,526,1963.2
Fanuc Corp. [6954]JP6,532218.311,426,0913.0
Novartis AG [NOVN]CH13,51898.701,334,2012.8
Roche Holding AG [ROG]CH4,663274.791,281,3222.7
Schneider Electric SE [SU]FR16,46177.821,280,9422.7
AXA SA [CS]FR50,25425.171,264,8542.6
Lloyds Banking Group plc [LLOY]GB1,074,8801.161,245,9322.6
Banco Bilbao Vizcaya Argentaria SA [BBVA]ES119,15210.101,203,3752.5
Rolls-Royce Holdings plc [RR.]GB80,83714.101,140,1232.4
SAP SE [SAP]DE15,49572.281,119,9162.3
Allianz SE [ALV]DE6,365173.621,105,1202.3
Diageo plc [DGE]GB38,04327.631,051,2982.2
Atlas Copco AB [ATCO A_SEK]SE31,73232.371,027,2742.1
Anheuser-Busch InBev NV [ABI]BE8,311122.171,015,2632.1
Daimler AG [DAI]DE10,50896.031,009,1682.1
Essilor International SA [EI]FR8,742114.821,003,7462.1
Linde AG [LIN]DE4,802203.35976,4042.0
Unibail-Rodamco SE [UL]FR3,561270.04961,4822.0
Volkswagen AG [VOW3]DE3,611265.20957,5242.0
Pernod Ricard SA [RI]FR7,648118.24904,2741.9
Nestlé SA [NESN]CH11,79075.30887,8461.8
Las Vegas Sands Corp. [LVS]US16,06855.04884,3791.8
Syngenta AG [SYNN]CH2,531339.73859,9031.8
CIE Financiere Richemont SA [CFR]CH10,52280.35845,4321.7
UBS Group AG [UBSG]CH44,70418.75838,2431.7
Heineken NV [HEIA]NL10,73476.33819,3071.7
L'Oreal SA [OR]FR4,446184.19818,9441.7
Japan Tobacco Inc. [2914]JP24,92731.61788,0641.6
SMC Corp. [6273]JP2,633297.76783,9231.6
Standard Chartered plc [STAN]GB47,66916.20772,0761.6
Holcim Ltd. [HOLN]CH10,31174.50768,1861.6
Investor AB [INVE B_SEK]SE19,27439.81767,2501.6
ABB Ltd. [ABBN]CH33,18421.21703,9601.5
Shire plc [SHP]GB8,72579.72695,6051.4
LVMH Moet Hennessy Louis Vuitton SA [MC]FR3,884175.98683,4461.4
Cie Generale des Etablissements Michelin [ML]FR6,80099.44676,2101.4
Reckitt Benckiser Group plc [RB.]GB7,57385.91650,5531.3
Banco Santander SA [SAN]ES86,4157.50647,7971.3
Swatch Group AG [UHR]CH1,460422.91617,4641.3
BG Group plc [BG.]GB50,15012.27615,5311.3
Volvo AB [VOLV B_SEK]SE49,96212.10604,6491.3
Tokio Marine Holdings Inc. [8766]JP14,48837.75546,8791.1
Fresenius Se & Co. KGAA [FRE]DE8,38659.62499,9301.0
Legrand SA [LR]FR9,16454.17496,4111.0
Dentsu Inc. [4324]JP11,18642.78478,5081.0
Freeport-McMoRan Inc. [FCX]US25,24318.95478,3481.0
United Overseas Bank Ltd. [U11]SG27,81416.76466,2171.0
Compagnie de Saint-Gobain [SGO]FR10,30143.91452,2930.9
Glencore plc [GLEN]GB104,8674.22442,7210.9
Erste Group Bank AG [EBS]AT17,30824.58425,5010.9
Komatsu Ltd. [6301]JP21,53719.60422,1890.9
Sandvik AB [SAND_SEK]SE37,04911.20414,8730.9
Bancolombia SA ADR [CIB]CO9,55339.33375,7300.8
Fresenius Medical Care AG & Co. KGAA [FME]DE4,36783.12362,9920.8
Air Liquide SA [AI]FR2,563128.74329,9900.7
Genting Bhd [GENTING]MY130,3812.43316,4590.7
JCDecaux SA [DEC]FR8,44633.67284,4190.6
Banco Bradesco SA [BBDC4]BR29,8559.30277,5430.6
Itau Unibanco Holding SA ADR [ITUB]BR24,79611.06274,2410.6
Pirelli & C. SpA [PC]IT15,95216.55264,0540.5
Ck Hutchison Holdings Ltd. [1]KY12,68320.44259,2830.5
Accor SA [AC]FR4,41052.15229,9620.5
Anglo American plc [AAL]GB9,22614.93137,7830.3
Indivior plc [INDV]GB48,6512.81136,7210.3
Hang Lung Properties Ltd. [101]HK47,8232.80133,7420.3
LIXIL Group Corp. [5938]JP5,45423.67129,0750.3
Barrick Gold Corp. [ABX]CA11,09310.96121,5810.3
CRH plc [CRH]IE3,00525.9878,0650.2
Anglo American plc ADR [AAUKY]GB8,6987.4664,8460.1
Hermes International SA [RMS]FR161353.0856,7010.1
Omron Corp. [6645]JP83945.0537,8140.1
Mitsubishi Estate Co. Ltd. [8802]JP89123.1920,6640.0
Banco Bilbao Vizcaya Argentaria SAES119,1520.1417,1680.0
Genting Bhd [GENTING-WA]MY30,6340.4915,1370.0
Total47,611,11398.9
Cash and Other Assets Less Liabilities1.1
Total Net Assets100%

Sector Allocation (As of Quarter Ended 03/31/2015)

As of Quarter Ended 03/31/2015
Economic SectorHarbor International Fund %MSCI EAFE (ND) Index %
Financials24.026.0
Industrials18.412.7
Consumer Discretionary15.113.1
Consumer Staples14.411.0
Health Care14.211.4
Materials8.87.5
Information Technology2.44.9
Energy1.35.1
Utilities0.03.6
Telecommunication Services0.04.7

Sector Returns (As of Quarter Ended 03/31/2015)

As of Quarter Ended 03/31/2015
Sector ReturnsHarbor International Fund %MSCI EAFE (ND) Index %
Health Care12.19.9
Industrials9.86.2
Consumer Staples5.44.7
Consumer Discretionary5.08.2
Financials3.44.9
Information Technology2.87.1
Materials0.93.4
Telecommunication Services0.02.9
Utilities0.0-4.8
Cash-0.20.0
Energy-8.8-4.6

Country Allocation (As of Quarter Ended 03/31/2015)

As of Quarter Ended 03/31/2015
CountryHarbor International Fund %MSCI EAFE (ND) Index %
France19.59.3
Switzerland16.89.2
United Kingdom14.420.3
Germany12.59.5
Japan9.622.2
Sweden5.83.0
Spain3.93.5
Denmark3.21.6
United States2.80.2
Belgium2.11.3
Other9.419.9

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 MSCI EAFE (ND) Index is an unmanaged index generally representative of major overseas stock markets. This unmanaged index does not reflect fees and expenses and is not available for direct investment.