Harbor Real Return Fund Administrative Class (HRRRX)

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

 Harbor Real Return FundBarclays U.S. TIPS Index
Number of Issues105-
Average Market Coupon (%)1.521.07
Yield to Maturity (%)2.541.76
Weighted Avg. Maturity (yrs)8.078.61
Weighted Avg. Duration (yrs)4.708.05

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

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

Issuer NameMaturity DateCoupon Rate (%)Market Value ($000's)% of Net Assets
U.S. Treasury Inflation Indexed Bonds01/15/20252.438,10024.6
U.S. Treasury Inflation Indexed Bonds07/15/20210.629,28718.9
U.S. Treasury Inflation Indexed Bonds01/15/20272.417,44211.3
U.S. Treasury Inflation Indexed Bonds07/15/20191.912,6878.2
U.S. Treasury Inflation Indexed Bonds02/15/20441.411,7177.6
U.S. Treasury Inflation Indexed Bonds04/15/20190.19,1555.9
U.S. Treasury Inflation Indexed Bonds07/15/20230.49,0745.9
U.S. Treasury Inflation Indexed Bonds07/15/20201.26,5144.2
U.S. Treasury Inflation Indexed Bonds01/15/20250.24,4782.9
U.K. Gilt Inflation Linked03/22/20240.13,9922.6
% of Total Holdings:142,44692.1

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

Issuer NameMaturity DateCoupon Rate (%)Market Value ($000's)% of Net Assets
U.S. Treasury Inflation Indexed Bonds01/15/20252.438,10024.6
U.S. Treasury Inflation Indexed Bonds07/15/20210.629,28718.9
U.S. Treasury Inflation Indexed Bonds01/15/20272.417,44211.3
U.S. Treasury Inflation Indexed Bonds07/15/20191.912,6878.2
U.S. Treasury Inflation Indexed Bonds02/15/20441.411,7177.6
U.S. Treasury Inflation Indexed Bonds04/15/20190.19,1555.9
U.S. Treasury Inflation Indexed Bonds07/15/20230.49,0745.9
U.S. Treasury Inflation Indexed Bonds07/15/20201.26,5144.2
U.S. Treasury Inflation Indexed Bonds01/15/20250.24,4782.9
U.K. Gilt Inflation Linked03/22/20240.13,9922.6
Bundesobligation Inflation Linked04/15/20180.83,3192.1
Telefonica Emisiones Sau06/23/20170.92,9941.9
Stone Street Trust12/15/20155.92,4741.6
DBUBS Mortgage Trust07/10/20443.42,3181.5
Italy Buoni Poliennali del Tesoro04/22/20172.22,2281.4
Italy Buoni Poliennali del Tesoro10/22/20162.62,1091.4
U.S. Treasury Inflation Indexed Bonds02/15/20420.81,6151.0
SLM Student Loan Trust12/15/20230.31,6061.0
U.S. Treasury Inflation Indexed Bonds04/15/20170.11,3620.9
Italy Buoni Poliennali Del Tesoro09/15/20212.11,3230.9
Italy Buoni Poliennali del Tesoro09/15/20242.41,2980.8
New Zealand Government Bond09/20/20252.01,2670.8
U.S. Treasury Inflation Indexed Bonds01/15/20192.11,1990.8
Bear Stearns ALT-A Trust07/25/20355.01,1930.8
U.S. Treasury Bonds02/15/20452.51,1890.8
Hillmark Funding Ltd.05/21/20210.51,0710.7
GATX Financial Corp.03/01/20165.81,0430.7
RBSSP Resecuritization Trust07/26/20452.39060.6
Mexican Udibonos12/04/20254.58370.5
France Government Bond Oat07/25/20180.28090.5
Electricite de France SA01/20/20170.78020.5
Lavender Trust10/26/20366.27970.5
France Government Bond OAT07/25/20151.67750.5
Federal Home Loan Mortgage Corp. REMIC12/15/20370.87660.5
Deutsche Alt-A Securities Mortgage Loan Trust08/25/20470.37630.5
Aegis Asset Backed Securities Trust03/25/20351.27430.5
France Government Bond OAT07/25/20240.27160.5
Navient Corp. MTN05/03/20192.27140.5
JP Morgan Mortgage Acquisition Trust05/25/20370.36380.4
Rali Series Trust09/25/20366.06370.4
Deutsche Bundesrepublik Inflation Linked Bond04/15/20161.56300.4
Hellenic Republic Government International Bond MTN08/08/20173.85970.4
Banco Popolare SC MTN03/14/20193.55700.4
Countrywide Alternative Loan Trust04/25/20376.05560.4
Province of Ontario Canada06/02/20453.45350.3
Banco Santander Brasil SA01/14/20164.25080.3
Residential Asset Securitization Trust11/25/20366.04850.3
Citigroup Mortgage Loan Trust Inc.08/25/20351.04620.3
Slovenia Government Bond11/01/20164.74620.3
Securitized Asset Backed Receivables LLC Trust08/25/20350.54500.3
Long Beach Mortgage Loan Trust08/25/20350.74190.3
IndyMac Imsc Mortgage Loan Trust07/25/20470.44190.3
Intesa Sanpaolo SpA01/15/20163.14060.3
Federal National Mortgage Association REMIC02/25/20410.93810.2
Hellenic Railways Organization SA03/17/20174.03760.2
Countrywide Alternative Loan Trust01/25/20365.53750.2
Autonomous Community of Catalonia02/11/20205.03700.2
Petrobras Global Finance BV01/27/20215.43660.2
Deutsche Alt-A Securities Inc.04/25/20370.53640.2
Mexican Udibonos11/08/20464.03590.2
Italy Buoni Poliennali del Tesoro09/15/20162.13550.2
Italy Buoni Poliennali del Tesoro09/01/20405.03410.2
Colombian Tes03/25/20333.03180.2
U.S. Treasury Inflation Indexed Bonds02/15/20412.12880.2
Spain Government Inflation Linked Bond11/30/20301.02340.2
Mexican Bonos06/14/20184.82330.2
Countrywide Asset Backed Certificates08/25/20470.72270.1
U.K. Gilt Inflation Linked03/22/20580.12270.1
Lehman XS Trust08/25/20460.42260.1
Morgan Stanley Mortgage Loan Trust06/25/20362.12240.1
Federal National Mortgage Association REMIC07/25/20370.62150.1
Electricite de France SA01/20/20171.22010.1
Federal National Mortgage Association REMIC07/25/20370.52010.1
Turkiye Garanti Bankasi AS04/20/20162.82010.1
Federal National Mortgage Association REMIC05/25/20360.61900.1
GSAMP Trust10/25/20341.81880.1
Soundview Home Loan Trust05/25/20360.51600.1
Countrywide Alternative Loan Trust04/25/20376.01520.1
Countrywide Alternative Loan Trust08/25/20366.01500.1
MASTR Asset Backed Securities Trust06/25/20360.41340.1
New South Wales Treasury Corp.11/20/20352.51220.1
JP Morgan Mortgage Trust06/25/20353.91190.1
Saxon Asset Securities Trust06/25/20334.01120.1
Banco Santander SA09/11/20216.21080.1
Interest Rate Swap Option 30 year12/11/20170.01040.1
U.S. Treasury Inflation Indexed Bonds02/15/20450.81010.1
Residential Asset Securitization Trust11/25/20366.2930.1
Petrobras Global Finance BV03/17/20172.6920.1
Park Place Securities Inc.12/25/20341.2910.1
Morgan Stanley ABS Capital I Inc. Trust10/25/20360.2760.0
U.S. Treasury Inflation Indexed Bonds02/15/20402.1720.0
U.S. Treasury Inflation Indexed Bonds02/15/20430.6600.0
Magi Funding plc04/11/20210.4570.0
Countrywide Home Loan Mortgage Pass Through Trust04/20/20352.3550.0
Residential Accredit Loans Inc.06/25/20460.4550.0
Wood Street CLO BV03/29/20210.3540.0
Structured Asset Mortgage Investments Inc.05/25/20460.4530.0
Residential Asset Securitization Trust01/25/20460.6370.0
Washington Mutual Mortgage Pass Through Certificates09/25/20332.4350.0
Interest Rate Swap Option 30 year05/29/20150.0230.0
Interest Rate Swap Option 1 year01/19/20160.080.0
Bear Stearns Adjustable Rate Mortgage Trust08/25/20352.380.0
Bear Stearns Adjustable Rate Mortgage Trust03/25/20352.780.0
Bear Stearns Adjustable Rate Mortgage Trust08/25/20352.250.0
Bear Stearns Adjustable Rate Mortgage Trust03/25/20352.520.0
Total197,062126.8
Cash and Other Assets Less Liabilities-26.8
Total Net Assets100%

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

As of Quarter Ended 03/31/2015
Economic SectorHarbor Real Return Fund %
U.S. Government Obligations93.1
Foreign Government Obligations15.1
Corporate Bonds & Notes7.0
Collateralized Mortgage Obligations6.8
Asset-backed Securities3.9
Mortgage Pass-through1.1
Purchased Options0.1

Maturity Profile (As of Quarter Ended 03/31/2015)

As of Quarter Ended 03/31/2015
MaturityHarbor Real Return Fund %Barclays U.S. TIPS Index %
0-1 yr28.70.0
1-3 yr-11.416.3
3-5 yr18.117.8
5-7 yr18.715.2
7-10 yr32.127.8
10-20 yr4.113.6
20-30 yr10.39.3
Over 30 yr-0.50.0

Duration (As of Quarter Ended 03/31/2015)

As of Quarter Ended 03/31/2015
DurationHarbor Real Return Fund %Barclays U.S. TIPS Index %
0-1 yr-5.06.3
1-3 yr5.025.6
3-5 yr25.217.4
5-7 yr51.630.2
7-10 yr-2.311.2
10-20 yr37.39.3
20-30 yr-11.80.0
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 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.