Harbor Mid Cap Growth Fund Administrative Class (HRMGX)

Portfolio Characteristics (As of Quarter Ended 12/31/2014)

 Harbor Mid Cap Growth FundRussell Midcap® Growth Index
Number of Holdings85552
Weighted Avg. Market Cap ($Mil)10,817.3913,883.63
Median Market Cap ($Mil)6,003.776,921.79
Price/Book Ratio4.214.71
Adj. Trailing P/E Ratio36.0227.28
Forecasted P/E Ratio22.7620.02
Earnings Growth Rate (%)10.3815.41
Proj. Earnings Growth Rate (%)20.7115.67
Return on Equity (%)21.0019.29
Turnover (unannualized % since 10/31)16-
Beta vs. Russell Midcap® Growth Index1.15-
Beta vs. Russell 3000® Index1.23-

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

Top Ten Holdings (As of Quarter Ended 12/31/2014)

Company Name [Ticker]% of Net Assets
DexCom Inc. [DXCM]2.4
Whirlpool Corp. [WHR]2.4
Chipotle Mexican Grill Inc. [CMG]2.0
Harley-Davidson Inc. [HOG]1.8
Advance Auto Parts Inc. [AAP]1.8
NXP Semiconductors NV [NXPI]1.7
AECOM Technology Corp. [ACM]1.7
Becton Dickinson And Co. [BDX]1.7
NetFlix Inc. [NFLX]1.7
Diamond Resorts International Inc. [DRII]1.7
% of Total Holdings:18.9

Full Holdings (As of Quarter Ended 12/31/2014)

Company Name [Ticker]CountryCUSIPShares (000's)Current Price ($)Market Value ($000's)% of Net Assets
DexCom Inc. [DXCM]US25213110730155.0516,5692.4
Whirlpool Corp. [WHR]US96332010685193.7416,4292.4
Chipotle Mexican Grill Inc. [CMG]US16965610520684.5113,4832.0
Harley-Davidson Inc. [HOG]US41282210818965.9112,4341.8
Advance Auto Parts Inc. [AAP]US00751Y10676159.2812,1101.8
NXP Semiconductors NV [NXPI]NLN6596X10915776.4011,9911.7
AECOM Technology Corp. [ACM]US00766T10038930.3711,8031.7
Becton Dickinson And Co. [BDX]US07588710983139.1611,5501.7
NetFlix Inc. [NFLX]US64110L10634341.6111,5041.7
Diamond Resorts International Inc. [DRII]US25272T10441227.9011,5031.7
Insulet Corp. [PODD]US45784P10124846.0611,4201.7
Fastenal Co. [FAST]US31190010423747.5611,2941.6
Actavis plc [ACT]IEG0083B10844257.4111,2251.6
Akamai Technologies Inc. [AKAM]US00971T10117762.9611,1311.6
DigitalGlobe Inc. [DGI]US25389M87735130.9710,8561.6
Acuity Brands Inc. [AYI]US00508Y10277140.0710,8221.6
Imax Corp. [IMAX]CA45245E10934730.9010,7231.6
ONO Pharmaceutical Co. Ltd. [4528]JP66601000411988.5410,5181.5
Generac Holdings Inc. [GNRC]US36873610422346.7610,4251.5
Cadence Design Systems Inc. [CDNS]US12738710854718.9710,3741.5
Panera Bread Co. [PNRA]US69840W10858174.8010,1761.5
TE Connectivity Ltd. [TEL]CHH8498910416063.2510,1491.5
Cognex Corp. [CGNX]US19242210324341.3310,0551.5
Textron Inc. [TXT]US88320310123742.119,9721.4
IHS Inc. [IHS]US45173410787113.889,8631.4
Whole Foods Market Inc. [WFM]US96683710619250.429,6711.4
CBRE Group Inc. [CBG]US12504L10927634.259,4591.4
FactSet Research Systems Inc. [FDS]US30307510566140.759,3341.4
Hd Supply Holdings Inc. [HDS]US40416M10530729.499,0451.3
Paramount Group Inc. [PGRE]US69924R10848518.599,0181.3
Julius Baer Group Ltd. [BAER]CHB4R2R590819445.668,8701.3
Solera Holdings Inc. [SLH]US83421A10417351.188,8581.3
Veeva Systems Inc. [VEEV]US92247510833026.418,7221.3
Assured Guaranty Ltd. [AGO]BMG0585R10633525.998,7111.3
Platform Specialty Products Corp. [PAH]US72766Q10536523.228,4711.2
Wyndham Worldwide Corp. [WYN]US98310W1089885.768,4071.2
Kate Spade & Co. [KATE]US48586510926132.018,3421.2
Envision Healthcare Holdings Inc. [EVHC]US29413U10324034.698,3381.2
Nielsen NV [NLSN]USN6321810618644.738,3071.2
F5 Networks Inc. [FFIV]US31561610264130.478,2851.2
Martin Marietta Materials Inc. [MLM]US57328410675110.328,2371.2
Hilton Worldwide Holdings Inc. [HLT]US43300A10431326.098,1571.2
GoPro Inc. [GPRO]US38268T10312963.228,1381.2
Regeneron Pharmaceuticals Inc. [REGN]US75886F10720410.258,1341.2
HeartWare International Inc. [HTWR]US42236810010973.438,0381.2
Monster Beverage Corp. [MNST]US61174010173108.357,9541.2
Northern Trust Corp. [NTRS]US66585910411767.407,9121.1
Landstar System Inc. [LSTR]US51509810110872.537,8591.1
Jarden Corp. [JAH]US47110910816347.887,8061.1
Equinix Inc. [EQIX]US29444U50234226.737,7801.1
Spirit Airlines Inc. [SAVE]US84857710210275.587,7171.1
Kansas City Southern [KSU]US48517030263122.037,6881.1
CoStar Group Inc. [CSGP]US22160N10940183.637,2581.1
Pioneer Natural Resources Co. [PXD]US72378710749148.857,2321.0
Zulily Inc. [ZU]US98977410430723.407,1761.0
Ross Stores Inc. [ROST]US7782961037694.267,1691.0
Shutterstock Inc. [SSTK]US82569010010369.107,1031.0
Arista Networks Inc. [ANET]US04041310611360.766,8811.0
Harman International Industries Inc. [HAR]US41308610964106.716,8261.0
Cerner Corp. [CERN]US15678210410564.666,7801.0
Tyler Technologies Inc. [TYL]US90225210557109.446,2460.9
Samsonite International SA [1910]HKB4Q1539002,0242.965,9990.9
Eagle Materials Inc. [EXP]US26969P1087976.035,9730.9
Yelp Inc. [YELP]US98581710510954.735,9520.9
Energen Corp. [EGN]US29265N1089063.765,7370.8
Diamondback Energy Inc. [FANG]US25278X1099259.785,4850.8
Mobileye NV [MBLY]NLN5148811712240.564,9520.7
Zillow Inc. [Z]US98954A10746105.894,9060.7
Incyte Corp. [INCY]US45337C1026773.114,8790.7
Sunedison Inc. [SUNE]US86732Y10924319.514,7360.7
Tesla Motors Inc. [TSLA]US88160R10120222.414,5090.7
Ubiquiti Networks Inc. [UBNT]US90347A10013229.643,9210.6
Vince Holding Corp. [VNCE]US92719W10814726.143,8520.6
Activision Blizzard Inc. [ATVI]US00507V10918520.153,7290.5
TripAdvisor Inc. [TRIP]US8969452014874.663,6210.5
NPS Pharmaceuticals Inc. [NPSP]US62936P1039935.773,5380.5
Nomad Holdings Ltd. [NHL]VIBLG2VT90532410.853,5170.5
First Solar Inc. [FSLR]US3364331077544.603,3570.5
Platform Specialty Products Corp. PIPEUSACI08GQZ614822.593,3410.5
Alnylam Pharmaceuticals Inc. [ALNY]US02043Q1073497.003,2850.5
Servicenow Inc. [NOW]US81762P1023067.852,0020.3
Sumco Corp. [3436]JPB0M0C890512814.321,8270.3
Diamond Foods Inc. [DMND]US2526031052328.236480.1
New Relic Inc. [NEWR]US64829B1001834.846310.1
Nomad Holdings Ltd. [NHLW]VIBLG2VX9063240.521670.0
Total668,87297.3
Cash and Other Assets Less Liabilities2.7
Total Net Assets100%

Sector Allocation (As of Quarter Ended 12/31/2014)

As of Quarter Ended 12/31/2014
Economic SectorHarbor Mid Cap Growth Fund %Russell Midcap® Growth Index %
Consumer Discretionary25.823.8
Information Technology22.517.8
Industrials16.716.1
Health Care16.413.6
Financials6.49.6
Materials3.84.9
Energy2.74.9
Consumer Staples2.68.0
Telecommunication Services0.01.0
Utilities0.00.3

Sector Returns (As of Quarter Ended 12/31/2014)

As of Quarter Ended 12/31/2014
Sector ReturnsHarbor Mid Cap Growth Fund %Russell Midcap® Growth Index %
Consumer Staples17.99.8
Health Care12.812.1
Financials8.88.0
Consumer Discretionary5.88.2
Information Technology2.26.0
Industrials1.96.2
Telecommunication Services1.8-0.8
Utilities0.05.5
Cash-0.00.0
Materials-14.45.3
Energy-19.4-22.0

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 Russell Midcap® Growth Index is an unmanaged index generally representative of the U.S. market for medium capitalization growth stocks. This unmanaged index does not reflect fees and expenses and is not available for direct investment. The Russell Midcap® Growth Index and Russell® are trademarks of Russell Investments.