Harbor High-Yield Bond Fund Administrative Class (HYFRX)

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

 Harbor High-Yield Bond FundBofA Merrill Lynch US Non-Distressed High Yield Index
Number of Bonds3152,034
Average Market Coupon (%)6.386.64
Yield to Maturity (%)6.686.10
Weighted Avg. Maturity (yrs)6.586.62
Duration to Worst (yrs)4.024.25

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

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

Issuer NameMaturity DateCoupon Rate (%)Market Value ($000's)% of Net Assets
Reynolds Group Issuer Inc.10/15/20205.817,9811.0
NRG Energy Inc.05/01/20246.217,9551.0
Tenet Healthcare Corp.06/15/20236.817,3611.0
IMG Worldwide Holdings LLC05/06/20215.215,6240.9
Hughes Satellite Systems Corp.06/15/20217.615,4550.9
Burger King Worldwide Inc.04/01/20226.015,4500.9
Rjs Power Holdings LLC07/15/20195.114,7750.8
UPCB Finance VI Ltd.01/15/20226.914,2520.8
Tronox Finance LLC08/15/20206.414,1120.8
Cequel Communications Holdings I LLC09/15/20206.413,4600.8
% of Total Holdings:156,4258.9

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

Issuer NameMaturity DateCoupon Rate (%)Market Value ($000's)% of Net Assets
Reynolds Group Issuer Inc.10/15/20205.817,9811.0
NRG Energy Inc.05/01/20246.217,9551.0
Tenet Healthcare Corp.06/15/20236.817,3611.0
IMG Worldwide Holdings LLC05/06/20215.215,6240.9
Hughes Satellite Systems Corp.06/15/20217.615,4550.9
Burger King Worldwide Inc.04/01/20226.015,4500.9
Rjs Power Holdings LLC07/15/20195.114,7750.8
UPCB Finance VI Ltd.01/15/20226.914,2520.8
Tronox Finance LLC08/15/20206.414,1120.8
Cequel Communications Holdings I LLC09/15/20206.413,4600.8
Sirius XM Radio Inc.07/15/20246.013,1630.8
ENDO Finance LLC01/15/20235.412,8700.7
Sinclair Television Group Inc.04/01/20215.412,1350.7
Zayo Group LLC04/01/20236.011,8820.7
Alliance Data Systems Corp.04/01/20206.411,8130.7
Cablevision Systems Corp.09/15/20225.911,6700.7
Clear Channel Worldwide Holdings Inc.03/15/20207.611,4040.7
Ashtead Capital Inc.07/15/20226.510,8850.6
Quicken Loans Inc.05/01/20255.810,8000.6
Virgin Media Secured Finance plc01/15/20265.210,6560.6
Safway Group Holding LLC05/15/20187.010,5300.6
Griffon Corp.03/01/20225.210,4870.6
Capsugel SA05/15/20197.010,4500.6
Michaels Stores Inc.12/15/20205.910,4200.6
Community Health Systems Inc.02/01/20226.910,4070.6
Energizer Holdings Inc.06/15/20255.510,3950.6
First Quality Finance Co. Inc.05/15/20214.610,3400.6
Post Holdings Inc.12/15/20226.010,1460.6
Iron Mountain Inc.08/15/20245.810,0440.6
Hertz Corp.10/15/20226.29,9960.6
Intelsat Jackson Holdings SA10/15/20207.29,9250.6
Signode Industrial Group Lux SA05/01/20226.49,7500.6
UPCB Finance IV Ltd.01/15/20255.49,7390.6
Seadrill Ltd.09/15/20176.19,7080.6
Time Inc.04/15/20225.89,7000.6
Unit Corp.05/15/20216.69,4970.5
Micron Technology Inc.01/15/20245.29,4690.5
West Corp.07/15/20225.49,3880.5
Valeant Pharmaceuticals International Inc.04/15/20256.19,2810.5
Berry Plastics Corp.05/15/20225.59,0680.5
Momentive Performance Materials Inc.10/24/20213.99,0250.5
Walter Investment Management Corp.12/15/20217.98,8470.5
Sequa Corp.06/19/20175.28,7070.5
DISH DBS Corp.11/15/20245.98,6680.5
Ardagh Holdings USA Inc.01/31/20196.28,6400.5
Vanguard Natural Resources LLC04/01/20207.98,5920.5
Chemours Co.05/15/20257.08,5580.5
Bombardier Inc.01/15/20236.18,4790.5
INEOS Group Holdings SA08/15/20186.18,2000.5
Rice Energy Inc.05/01/20226.28,1550.5
Hertz Corp.10/15/20205.98,1400.5
Tribune Media Co.07/15/20225.98,0800.5
Nortek Inc.04/15/20218.58,0710.5
Calpine Corp.01/15/20255.88,0050.5
MDC Partners Inc.04/01/20206.88,0000.5
TransDigm Inc.07/15/20246.57,9400.5
Geo Group Inc.01/15/20225.97,9310.5
AVINTIV Specialty Materials Inc.06/01/20196.97,8520.5
Resolute Forest Products Inc.05/15/20235.97,7780.4
ZF North America Capital Inc.04/29/20254.87,7750.4
Gulfmark Offshore Inc.03/15/20226.47,5630.4
SunGard Data Systems Inc.11/01/20196.67,5130.4
Spectrum Brands Inc.11/15/20226.67,4900.4
Sprint Communications Inc.11/15/20226.07,4670.4
Dole Food Co. Inc.05/01/20197.27,4420.4
Calpine Corp.02/01/20245.57,3910.4
Pinnacle Entertainment Inc.05/15/20208.87,3810.4
Dynegy Inc.11/01/20196.87,3710.4
MediaCom Capital Corp.02/15/20227.27,3590.4
Gardner Denver Inc.08/15/20216.97,3300.4
DISH DBS Corp.06/01/20216.87,3150.4
Viasat Inc.06/15/20206.97,3140.4
Cascades Inc.07/15/20225.57,2840.4
Covanta Holding Corp.10/01/20226.47,2540.4
Lamar Media Corp.02/01/20225.97,2280.4
MPH Acquisition Holdings LLC04/01/20226.67,1660.4
WMG Acquisition Corp.04/15/20226.87,1640.4
Hillman Group Inc.07/15/20226.47,1250.4
GCI Inc.06/01/20216.87,1230.4
Nexstar Broadcasting Inc.11/15/20206.96,9680.4
Consolidated Energy Finance SA10/15/20196.86,8850.4
Brand Energy & Infrastructure Services Inc.12/01/20218.56,7320.4
AES Corp.04/15/20255.56,6850.4
Alphabet Holding Co. Inc.11/01/20177.86,6670.4
Terex Corp.04/01/20206.56,5780.4
Jurassic Holdings III Inc.02/15/20216.96,4760.4
TransUnion Holding Co. Inc.06/15/20189.66,4760.4
American Tire Distributors Inc.03/01/202210.26,4350.4
T-Mobile USA Inc.03/01/20256.46,4060.4
Gates Global LLC07/15/20226.06,3700.4
Suburban Propane Partners LP08/01/20217.46,2550.4
Commscope Technologies Finance LLC06/15/20256.06,2420.4
Triangle USA Petroleum Corp.07/15/20226.86,2400.4
CenturyLink Inc.04/01/20205.66,1810.4
T-Mobile USA Inc.04/01/20216.26,1650.4
Plastipak Holdings Inc.10/01/20216.56,1350.4
Shea Homes LP04/01/20235.96,1050.4
Intelsat Luxembourg SA06/01/20238.16,0960.4
Envision Healthcare Corp.07/01/20225.16,0600.3
Ferrellgas LP06/15/20236.86,0600.3
Brand Energy & Infrastructure Services Inc.11/26/20204.86,0270.3
Mauser U.S. Holdings Inc.07/31/20228.25,9870.3
Tenneco Inc.12/15/20206.95,9620.3
Numericable-SFR SAS05/15/20226.05,9290.3
Anixter Inc.10/01/20215.15,9230.3
Felcor Lodging LP03/01/20235.65,8340.3
Cumulus Media Holdings Inc.05/01/20197.85,8270.3
Cablevision Systems Corp.04/15/20208.05,8180.3
Jupiter Resources Inc.10/01/20228.55,6870.3
Valeant Pharmaceuticals International Inc.12/01/20215.65,6380.3
Whiting Petroleum Corp.04/01/20236.25,6360.3
Alere Inc.07/01/20236.45,6100.3
Felcor Lodging LP06/01/20256.05,6100.3
California Resources Corp.11/15/20246.05,5790.3
Univar USA Inc.07/15/20236.85,5690.3
Nationstar Mortgage LLC10/01/20207.95,4790.3
Sprint Communications Inc.08/15/20207.05,4730.3
Chrysler Group LLC06/15/20218.25,4630.3
Global Partners LP06/15/20237.05,4310.3
Isle of Capri Casinos Inc.06/15/20208.95,4250.3
Foresight Energy LLC08/15/20217.95,4000.3
XPO Logistics Inc.06/15/20226.55,3970.3
Hologic Inc.07/15/20225.25,3750.3
Rose Rock Finance Corp.11/15/20235.65,3490.3
Pinnacle Entertainment Inc.04/15/20217.55,3190.3
Gray Television Inc.10/01/20207.55,3190.3
Endo Finance LLC01/15/20225.85,2780.3
ACCO Brands Corp.04/30/20206.85,2750.3
American Axle & Manufacturing Inc.10/15/20226.65,2750.3
LKQ Corp.05/15/20234.85,2730.3
Dynegy Inc.11/01/20227.45,2630.3
Rent-A-Center Inc.05/01/20214.85,2500.3
Bombardier Inc.03/15/20257.55,2470.3
Peninsula Gaming LLC02/15/20188.45,2310.3
CIT Group Inc.02/15/20195.55,2250.3
NGL Energy Partners LP10/15/20216.95,2250.3
Tesoro Logistics LP10/15/20195.55,2130.3
Commscope Holding Co. Inc.06/01/20206.65,2060.3
Platform Specialty Products Corp.02/01/20226.55,1880.3
Cedar Fair LP03/15/20215.25,1630.3
A Schulman Inc.06/01/20236.95,1250.3
Endo Finance LLC07/15/20236.05,1190.3
Dean Foods Co.03/15/20236.55,1130.3
Nexstar Broadcasting Inc.02/15/20226.15,0880.3
Cable One Inc.06/15/20225.85,0750.3
RSI Home Products Inc.03/15/20236.55,0630.3
INEOS Group Holdings SA02/15/20195.95,0440.3
CEB Inc.06/15/20235.65,0380.3
Amaya Holdings BV08/01/20228.05,0370.3
Summit Materials LLC07/15/20236.15,0250.3
Surgical Care Affiliates Inc.04/01/20236.05,0250.3
Unitymedia Hessen GmbH & Co. KG01/15/20235.55,0130.3
Quebecor Media Inc.01/15/20235.85,0060.3
Belden Inc.09/01/20225.54,9880.3
Ally Financial Inc.11/18/20193.84,9750.3
Equinix Inc.01/01/20255.84,9750.3
Townsquare Media Inc.04/01/20236.54,9690.3
CCO Holdings LLC09/30/20225.24,9380.3
Goodyear Tire & Rubber Co.03/01/20216.54,9130.3
Goodyear Tire & Rubber Co.05/15/20227.04,9100.3
Nationstar Mortgage LLC07/01/20216.54,9090.3
Wex Inc.02/01/20234.84,8990.3
Berry Plastics Corp.07/15/20235.14,8880.3
Quad/Graphics Inc.05/01/20227.04,8880.3
Mallinckrodt International Finance SA04/15/20255.54,8690.3
Valeant Pharmaceuticals International Inc.07/15/20217.54,8540.3
Memorial Resource Development Corp.07/01/20225.94,8540.3
Solenis International LP07/31/20227.84,8520.3
Chaparral Energy Inc.09/01/20218.24,8430.3
Garda World Security Corp.11/15/20217.24,8250.3
Memorial Production Partners LP08/01/20226.94,8200.3
Hornbeck Offshore Services Inc.03/01/20215.04,8010.3
Air Medical Merger Sub Corp.05/15/20236.44,7250.3
Murray Energy Corp.04/15/202111.24,6970.3
Arcelormittal06/01/20205.14,6750.3
Genesis Energy LP02/15/20215.84,6650.3
Oasis Petroleum Inc.03/15/20226.94,6410.3
Davita Healthcare Partners Inc.05/01/20255.04,5840.3
Clean Harbors Inc.06/01/20215.14,4780.3
Sirius XM Radio Inc.10/01/20205.94,4700.3
Bombardier Inc.10/15/20226.04,4630.3
Frontier Communications Corp.01/15/20237.14,4630.3
Ferrellgas LP05/01/20216.54,3610.3
Nuance Communications Inc.08/15/20205.44,2420.2
SunGard Data Systems Inc.11/15/20207.64,2210.2
Spirit Aerosystems Inc.12/15/20206.84,2100.2
Penske Automotive Group Inc.10/01/20225.84,1800.2
Univision Communications Inc.02/15/20255.14,1610.2
Linn Energy LLC02/01/20217.84,1470.2
Neff Rental LLC06/09/20217.24,1420.2
CGG SA01/15/20226.94,1330.2
Sinclair Television Group Inc.10/01/20226.14,1300.2
ArcelorMittal03/01/20216.24,1000.2
Oasis Petroleum Inc.01/15/20236.94,0940.2
NCR Corp.07/15/20225.04,0700.2
Halcon Resources Corp.07/15/20209.84,0650.2
ArcelorMittal08/05/20206.04,0110.2
Jll/Delta Dutch Pledgeco BV05/01/20208.83,9680.2
Memorial Production Partners LP05/01/20217.63,9500.2
Cascades Inc.07/15/20235.83,9290.2
American Energy-Permian Basin LLC08/01/20196.83,8640.2
Masonite International Corp.03/15/20235.63,8300.2
MediaCom Broadband LLC04/01/20236.43,8190.2
Nustar Logistics LP02/01/20216.83,7800.2
Station Casinos LLC03/01/20217.53,7090.2
Sprint Corp.09/15/20217.23,6660.2
Gannett Co. Inc.10/15/20236.43,6580.2
Hornbeck Offshore Services Inc.04/01/20205.93,6540.2
Silgan Holdings Inc.04/01/20205.03,6140.2
AECOM10/15/20225.83,5530.2
Dish DBS Corp.03/15/20235.03,5250.2
DaVita HealthCare Partners Inc.08/15/20225.83,5100.2
BJ's Wholesale Club Inc.03/31/20208.53,4870.2
Transdigm Inc.05/15/20256.53,4780.2
WideOpenWest Finance LLC07/15/201910.23,4280.2
Trinseo Materials Operation SCA05/01/20226.83,4250.2
Sinclair Television Group Inc.11/01/20216.43,4240.2
Rosetta Resources Inc.05/01/20215.63,4000.2
Exterran Partners LP10/01/20226.03,3430.2
Sprint Corp.02/15/20257.63,3080.2
CCO Holdings LLC04/30/20216.53,3020.2
Kraft Heinz Foods Co.02/15/20254.93,2730.2
RHP Hotel Properties LP04/15/20215.03,2660.2
Levi Strauss & Co.05/01/20226.93,2180.2
Kratos Defense & Security Solutions Inc.05/15/20197.03,2070.2
Savers Inc.10/03/20195.03,1970.2
Level 3 Financing Inc.06/01/20207.03,1910.2
Chesapeake Energy Corp.03/15/20235.83,1850.2
SBA Telecommunications Inc.07/15/20205.83,1760.2
CGG SA06/01/20216.53,1730.2
ENDO Finance LLC12/15/20207.03,1720.2
Alliance Data Systems Corp.08/01/20225.43,1600.2
Chesapeake Energy Corp.02/15/20216.13,1330.2
CCO Holdings LLC05/01/20235.13,1200.2
Seventy Seven Operating LLC11/15/20196.63,1010.2
Virgin Media Finance plc10/15/20246.03,0560.2
Titan International Inc.10/01/20206.93,0020.2
Altice Financing SA02/15/20236.62,9860.2
Building Materials Corp. of America11/15/20245.42,9610.2
Prestige Brands Inc.02/01/20208.12,9490.2
Altice SA05/15/20227.82,9100.2
Sirius XM Radio Inc.04/15/20255.42,9030.2
PQ Corp.11/01/20188.82,8890.2
Scientific Games International Inc.05/15/20216.62,8860.2
Tronox Finance LLC03/15/20227.52,8500.2
North Atlantic Drilling Ltd.02/01/20196.22,8460.2
Sanchez Energy Corp.01/15/20236.12,8350.2
Sprint Corp.06/15/20247.12,7900.2
Talen Energy Supply LLC06/01/20256.52,7530.2
Summit Materials LLC01/31/202010.52,7470.2
Mediacom Broadband LLC04/15/20215.52,7410.2
Sealed Air Corp.12/01/20224.92,7190.2
TWCC Holding Corp.02/13/20205.82,7130.2
Valeant Pharmaceuticals International Inc.10/15/20206.42,6390.2
Virgin Media Finance plc04/15/20236.42,5940.1
Sirius XM Radio Inc.05/15/20234.62,5920.1
Level 3 Financing Inc.05/01/20235.12,5380.1
Casella Waste Systems Inc.02/15/20197.82,3850.1
Precision Drilling Corp.11/15/20206.62,3150.1
Halcon Resources Corp.02/01/20208.62,2800.1
MarkWest Energy Finance Corp.06/01/20254.92,2050.1
MedAssets Inc.11/15/20188.02,1280.1
Spectrum Brands Inc.11/15/20206.42,1250.1
Community Health Systems Inc.11/15/20198.02,1130.1
Tesoro Logistics LP10/15/20226.22,0800.1
Cyrusone LP11/15/20226.42,0750.1
Acadia Healthcare Co. Inc.02/15/20235.62,0350.1
Chesapeake Energy Corp.08/15/20206.62,0090.1
Azure Midstream Energy LLC11/15/20187.51,9900.1
Communications Sales & Leasing Inc.10/15/20238.21,9700.1
Avis Budget Car Rental LLC03/15/20255.21,8850.1
Mallinckrodt International Finance SA04/15/20234.81,8750.1
Valeant Pharmaceuticals International Inc.03/01/20235.51,8730.1
Darling Ingredients Inc.01/15/20225.41,8070.1
Omega Healthcare Investors Inc.10/15/20226.81,7850.1
Covanta Holding Corp.03/01/20245.91,7040.1
Eagle Spinco Inc.02/15/20214.61,7040.1
Cequel Communications Holdings I LLC12/15/20215.11,6870.1
Scientific Games International Inc.09/01/20206.21,6820.1
HCA Holdings Inc.02/15/20216.21,6740.1
Rent-A-Center Inc.11/15/20206.61,6710.1
Concordia Healthcare Corp.04/15/20237.01,6540.1
MPT Operating Partnership LP05/01/20216.91,5920.1
Hertz Corp.01/15/20217.41,5690.1
T-Mobile USA Inc.04/28/20216.61,5600.1
Altice SA02/15/20257.61,5550.1
Silgan Holdings Inc.02/01/20225.51,5530.1
T-Mobile USA Inc.01/15/20246.51,5530.1
Chemours Co.05/15/20236.61,5050.1
Geo Group Inc.04/01/20235.11,5040.1
CCO Holdings LLC02/15/20235.11,4660.1
SBA Communications Corp.10/01/20195.61,4090.1
Linn Energy LLC09/15/20216.51,3210.1
Digitalglobe Inc.02/01/20215.21,2050.1
Univision Communications Inc.09/15/20226.81,2000.1
Berry Petroleum Co. LLC11/01/20206.81,1930.1
Level 3 Financing Inc.01/15/20216.11,1560.1
Constellium NV05/15/20245.81,0740.1
Geo Group Inc.10/15/20245.91,0350.1
American Energy-Permian Basin LLC11/01/20207.11,0280.1
Infor US Inc.05/15/20226.51,0200.1
Sterigenics-Nordion Holdings LLC05/15/20236.51,0180.1
AECOM10/15/20245.91,0160.1
Exterran Partners LP04/01/20216.09700.1
NCR Corp.12/15/20236.49570.1
Chesapeake Energy Corp.11/15/20206.99310.1
Paramount Resources Ltd.06/30/20236.98060.0
United Rentals North America Inc.07/15/20255.57280.0
Steel Dynamics Inc.10/01/20215.17050.0
Hertz Corp.04/15/20196.86720.0
Rite Aid Corp.04/01/20236.16720.0
Linn Energy LLC11/01/20196.25710.0
Linn Energy LLC04/15/20208.64130.0
CCO Holdings LLC03/15/20215.22500.0
Seadrill Ltd.09/15/20206.62360.0
Total1,674,87997.1
Cash and Other Assets Less Liabilities2.9
Total Net Assets100%

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

As of Quarter Ended 06/30/2015
Economic SectorHarbor High-Yield Bond Fund %
Consumer Discretionary25.5
Industrials13.9
Materials11.9
Energy11.2
Health Care8.5
Information Technology5.8
Telecommunication Services5.7
Financials5.1
Utilities5.0
Consumer Staples3.5

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

As of Quarter Ended 06/30/2015
MaturityHarbor High-Yield Bond Fund %BofA Merrill Lynch US Non-Distressed High Yield Index %
0-1 yr0.00.0
1-3 yr2.85.2
3-5 yr15.216.5
5-7 yr38.829.4
7-10 yr40.135.9
10-20 yr0.710.6
20-30 yr0.02.3
Over 30 yr0.00.1

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

As of Quarter Ended 06/30/2015
DurationHarbor High-Yield Bond Fund %BofA Merrill Lynch US Non-Distressed High Yield Index %
0-1 yr10.59.6
1-3 yr15.419.8
3-5 yr37.636.2
5-7 yr28.023.8
7-10 yr6.27.7
10-20 yr0.02.9
20-30 yr0.00.0
Over 30 yr0.00.0

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 BofA Merrill Lynch US Non-Distressed High Yield Index is a subset of The BofA Merrill Lynch US High Yield Index including all securities with an option-adjusted spread less than 1,000 basis points. This unmanaged index does not reflect fees and expenses and is not available for direct investment.

The BofA Merrill Lynch US High Yield Index is an unmanaged index that tracks the performance of below investment grade U.S. dollar-denominated corporate bonds publicly issued in the U.S. domestic market. All bonds are U.S. dollar denominated and rated Split BBB and below. This unmanaged index does not reflect fees and expenses and is not available for direct investment.

Effective March 1, 2015, the Fund's benchmark changed to the BofA Merrill Lynch U.S. Non-Distressed High Yield Index from the BofA Merrill Lynch U.S. High Yield Index in order to better reflect the subadviser's investment strategy.