Harbor Real Return Fund Administrative Class (HRRRX)

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

 Harbor Real Return FundBarclays U.S. TIPS Index
Number of Issues124-
Average Market Coupon (%)1.601.07
Yield to Maturity (%)2.822.05
Weighted Avg. Maturity (yrs)8.108.61
Weighted Avg. Duration (yrs)4.668.08

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

Top Ten Holdings (As of Quarter Ended 09/30/2015)

Issuer NameMaturity DateCoupon Rate (%)Market Value ($000's)% of Net Assets
U.S. Treasury Inflation Indexed Bonds01/15/20252.436,63427.2
U.S. Treasury Inflation Indexed Bonds07/15/20210.629,11721.6
U.S. Treasury Inflation Indexed Bonds01/15/20272.413,1869.8
U.S. Treasury Inflation Indexed Bonds07/15/20191.912,5419.3
U.S. Treasury Inflation Indexed Bonds02/15/20441.411,5078.5
U.S. Treasury Inflation Indexed Bonds07/15/20201.27,5895.6
U.K. Gilt Inflation Linked03/22/20240.13,8492.9
U.S. Treasury Inflation Indexed Bonds01/15/20240.63,7702.8
U.S. Treasury Notes05/15/20252.12,8172.1
Telefonica Emisiones Sau06/23/20171.02,6422.0
% of Total Holdings:123,65291.8

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

Issuer NameMaturity DateCoupon Rate (%)Market Value ($000's)% of Net Assets
U.S. Treasury Inflation Indexed Bonds01/15/20252.438,21226.1
U.S. Treasury Inflation Indexed Bonds07/15/20210.629,18820.0
U.S. Treasury Inflation Indexed Bonds01/15/20272.416,51411.3
U.S. Treasury Inflation Indexed Bonds07/15/20191.912,6938.7
U.S. Treasury Inflation Indexed Bonds02/15/20441.410,8067.4
U.S. Treasury Inflation Indexed Bonds07/15/20201.28,3675.7
U.K. Gilt Inflation Linked03/22/20240.14,1612.8
U.S. Treasury Inflation Indexed Bonds04/15/20190.13,9902.7
U.S. Treasury Inflation Indexed Bonds01/15/20250.23,8272.6
Bundesobligation Inflation Linked04/15/20180.83,4662.4
U.S. Treasury Inflation Indexed Bonds02/15/20450.83,0362.1
Telefonica Emisiones Sau06/23/20170.92,9942.0
U.S. Treasury Inflation Indexed Bonds07/15/20230.42,5541.7
Stone Street Trust12/15/20155.92,4471.7
Italy Buoni Poliennali del Tesoro09/15/20242.42,3631.6
DBUBS Mortgage Trust07/10/20443.42,3051.6
Italy Buoni Poliennali del Tesoro04/22/20172.22,3031.6
U.S. Treasury Inflation Indexed Bonds04/15/20200.12,1721.5
U.S. Treasury Inflation Indexed Bonds02/15/20420.81,6781.1
SLM Student Loan Trust12/15/20230.21,5721.1
U.S. Treasury Inflation Indexed Bonds04/15/20170.11,3730.9
Italy Buoni Poliennali Del Tesoro09/15/20212.11,3270.9
U.S. Treasury Bonds02/15/20452.51,2760.9
U.S. Treasury Inflation Indexed Bonds01/15/20192.11,2000.8
Bear Stearns ALT-A Trust07/25/20354.81,1660.8
New Zealand Government Bond09/20/20252.01,1100.8
GATX Financial Corp.03/01/20165.81,0300.7
Mexican Udibonos12/04/20254.51,0090.7
Hillmark Funding Ltd.05/21/20210.59780.7
Italy Buoni Poliennali del Tesoro10/22/20162.69410.6
France Government Bond Oat07/25/20180.28460.6
RBSSP Resecuritization Trust07/26/20452.28450.6
Lavender Trust10/26/20366.28290.6
France Government Bond OAT07/25/20151.68030.5
Electricite de France SA01/20/20170.78010.5
Deutsche Alt-A Securities Mortgage Loan Trust08/25/20470.37580.5
Aegis Asset Backed Securities Trust03/25/20351.27330.5
Navient Corp. MTN05/03/20192.06820.5
Federal Home Loan Mortgage Corp. REMIC12/15/20370.86780.5
First Franklin Mortgage Loan Trust06/25/20360.76660.5
Deutsche Bundesrepublik Inflation Linked Bond04/15/20161.56540.4
JP Morgan Mortgage Acquisition Trust05/25/20370.36420.4
Residential Accredit Loans Inc.09/25/20366.06090.4
U.S. Treasury Bonds05/15/20453.06080.4
Banco Popolare SC MTN03/14/20193.55730.4
Countrywide Alternative Loan Trust04/25/20376.05310.4
U.S. Treasury Bills10/08/20150.04910.3
Residential Asset Securitization Trust11/25/20366.04800.3
Slovenia Government Bond11/01/20164.74720.3
Hellenic Republic Government International Bond MTN08/08/20173.84620.3
Mexican Udibonos11/08/20464.04430.3
Citigroup Mortgage Loan Trust Inc.08/25/20351.04430.3
France Government Bond OAT04/25/20203.54370.3
Long Beach Mortgage Loan Trust08/25/20350.74200.3
IndyMac Imsc Mortgage Loan Trust07/25/20470.44060.3
Intesa Sanpaolo SpA01/15/20163.14030.3
Securitized Asset Backed Receivables LLC Trust08/25/20350.53930.3
Petrobras Global Finance BV01/27/20215.43850.3
AT&T Inc.05/15/20253.43820.3
Autonomous Community of Catalonia02/11/20205.03680.3
Countrywide Alternative Loan Trust01/25/20365.53670.3
Deutsche Alt-A Securities Mortgage Loan Trust04/25/20370.53500.2
Federal National Mortgage Association REMIC02/25/20410.93470.2
Credit Agricole SA04/29/20496.53370.2
U.S. Treasury Inflation Indexed Bonds07/15/20162.53280.2
Colombian Tes03/25/20333.03140.2
BellSouth Corp.04/26/20214.83090.2
Hellenic Railways Organization SA03/17/20174.02980.2
AT&T Inc.06/30/20223.02900.2
Italy Buoni Poliennali del Tesoro09/01/20405.02860.2
U.S. Treasury Inflation Indexed Bonds02/15/20412.12690.2
Barclays plc12/15/20498.02370.2
Mexican Bonos06/14/20184.82280.2
Barclays plc12/29/20496.52230.2
Morgan Stanley Mortgage Loan Trust06/25/20362.12210.2
Banco Santander SA09/11/20216.22170.1
Lehman XS Trust08/25/20460.42150.1
Spain Government Inflation Linked Bond11/30/20301.02080.1
U.S. Treasury Inflation Indexed Bonds01/15/20230.12020.1
Turkiye Garanti Bankasi AS04/20/20162.82010.1
Electricite de France SA01/20/20171.22000.1
Countrywide Asset Backed Certificates08/25/20470.71990.1
Federal National Mortgage Association REMIC07/25/20370.61900.1
GSAMP Trust10/25/20341.81900.1
AT&T Inc.05/15/20464.81830.1
Federal National Mortgage Association REMIC07/25/20370.51770.1
Federal National Mortgage Association REMIC05/25/20360.61760.1
Soundview Home Loan Trust05/25/20360.51600.1
Interest Rate Swap Option 30 year12/11/20170.01560.1
Marche Mutui Srl01/27/20642.21540.1
Countrywide Alternative Loan Trust04/25/20376.01450.1
Countrywide Alternative Loan Trust08/25/20366.01450.1
MASTR Asset Backed Securities Trust06/25/20360.41340.1
JP Morgan Mortgage Trust06/25/20352.51130.1
Saxon Asset Securities Trust06/25/20334.01100.1
AT&T Inc.06/30/20201.21010.1
Petrobras Global Finance BV03/17/20172.6980.1
AT&T Inc.06/30/20202.4980.1
U.S. Treasury Bonds11/15/20443.0980.1
AT&T Inc.05/15/20354.5920.1
Residential Asset Securitization Trust11/25/20366.2920.1
Morgan Stanley ABS Capital I Inc. Trust10/25/20360.3710.0
Park Place Securities Inc.12/25/20341.2680.0
U.S. Treasury Inflation Indexed Bonds02/15/20402.1680.0
Marche Mutui Srl02/25/20550.4660.0
Wood Street CLO BV03/29/20210.3560.0
Structured Asset Mortgage Investments Inc.05/25/20460.4550.0
U.S. Treasury Inflation Indexed Bonds02/15/20430.6550.0
Residential Accredit Loans Inc.06/25/20460.4530.0
Countrywide Home Loan Mortgage Pass Through Trust04/20/20352.3500.0
Marche Mutui Srl10/27/20650.4400.0
Residential Asset Securitization Trust01/25/20460.6360.0
Interest Rate Swap Option 30 year08/11/20150.0340.0
Washington Mutual Mortgage Pass Through Certificates09/25/20332.4330.0
Magi Funding plc04/11/20210.3110.0
Bear Stearns Adjustable Rate Mortgage Trust08/25/20352.380.0
Bear Stearns Adjustable Rate Mortgage Trust03/25/20352.770.0
Interest Rate Swap Option 1 year01/19/20160.070.0
Bear Stearns Adjustable Rate Mortgage Trust08/25/20352.240.0
Interest Rate Swap Option 1 year12/15/20150.040.0
Interest Rate Swap Option 30 year08/11/20150.030.0
Interest Rate Swap Option 1 year12/15/20150.030.0
Eurodollar Futures12/14/20150.020.0
Bear Stearns Adjustable Rate Mortgage Trust03/25/20352.520.0
Cash and Other Assets Less Liabilities-31.1
Total Net Assets100%

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

As of Quarter Ended 06/30/2015
Economic SectorHarbor Real Return Fund %
U.S. Government Obligations95.1
Foreign Government Obligations15.2
Corporate Bonds & Notes8.6
Collateralized Mortgage Obligations7.2
Asset-backed Securities4.4
Mortgage Pass-through1.1
Purchased Options0.1

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

As of Quarter Ended 06/30/2015
MaturityHarbor Real Return Fund %
0-1 yr16.6
1-3 yr-10.4
3-5 yr16.0
5-7 yr32.8
7-10 yr36.8
10-20 yr0.8
20-30 yr11.4
Over 30 yr-4.0

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

As of Quarter Ended 06/30/2015
DurationHarbor Real Return Fund %
0-1 yr-3.2
1-3 yr4.3
3-5 yr29.3
5-7 yr53.3
7-10 yr-4.1
10-20 yr40.0
20-30 yr-19.7
Over 30 yr0.0

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 Barclays U.S. TIPS Index is an unmanaged market index comprised of all U.S. Treasury Inflation Protected Securities rated investment grade (Baa3 or better), have at least one year to final maturity, and at least $250 million par amount outstanding.  This unmanaged index does not reflect fees and expenses and is not available for direct investment.