Harbor Global Value Fund Administrative Class (HRGVX)

CLOSED TO NEW INVESTORS

Portfolio Characteristics (As of Quarter Ended 09/30/2013)

 Harbor Global Value FundMSCI World (ND) Index
Number of Holdings491,606
Weighted Avg. Market Cap ($Mil)82,000.1782,587.66
Median Market Cap ($Mil)37,296.3410,466.84
Price/Book Ratio1.911.99
Adj. Trailing P/E Ratio19.2417.89
Forecasted P/E Ratio12.1513.79
Earnings Growth Rate (%)-2.032.95
Proj. Earnings Growth Rate (%)11.7311.36
Return on Equity (%)12.5113.16
Turnover (unannualized % since 10/31)51-
Beta vs. MSCI World Index1.27-

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

Top Ten Holdings (As of Quarter Ended 12/31/2013)

Company Name [Ticker]% of Net Assets
UnitedHealth Group Inc. [UNH]3.1
Akzo Nobel NV [AKZA]3.1
Novartis AG [NOVN]3.0
Sanofi AS [SAN]3.0
Microsoft Corp. [MSFT]2.8
Boeing Co. [BA]2.8
Citigroup Inc. [C]2.8
Siemens AG [SIE]2.7
Oracle Corp. [ORCL]2.7
Imperial Oil Ltd. [IMO]2.6
% of Total Holdings:28.6

Full Holdings (As of Quarter Ended 12/31/2013)

Company Name [Ticker]CountrySEDOLShares (000's)Current Price ($)Market Value ($000's)% of Net Assets
UnitedHealth Group Inc. [UNH]US2917766475.302793.1
Akzo Nobel NV [AKZA]NL5458314477.552743.1
Novartis AG [NOVN]CH7103065380.152663.0
Sanofi AS [SAN]FR56717352106.792653.0
Microsoft Corp. [MSFT]US2588173737.432512.8
Boeing Co. [BA]US21086012136.492462.8
Citigroup Inc. [C]US2297907552.112452.8
Siemens AG [SIE]DE57279732137.122442.7
Oracle Corp. [ORCL]US2661568638.262412.7
Imperial Oil Ltd. [IMO]CA2454241544.282302.6
National Oilwell Varco Inc. [NOV]US2624486379.532072.3
Vodafone Group plc [VOD]GBB16GWD5523.942062.3
CNOOC Ltd. [883]CNB00G0S51101.862052.3
Wells Fargo & Co. [WFC]US2649100445.402002.2
Royal Dutch Shell plc [RDSA]GBB03MLX2635.841982.2
Reed Elsevier NV [REN]NL4148810921.251952.2
Barclays plc [BARC]GB3134865424.521902.1
Daimler AG [DAI]DE5529027286.781882.1
International Consolidated Airlines Group SA [IAG]GBB5M6XQ7286.661862.1
EMC Corp. [EMC]US2295172725.151842.1
Apollo Group Inc. [APOL]US2043694727.321832.1
KDDI Corp. [9433]JP6248990361.621792.0
American Airlines Group Inc. [AAL]USBCV7KT2725.251782.0
Johnson & Johnson [JNJ]US2475833291.591742.0
Western Union Co. [WU]USB1F76F91017.251671.9
Michael Page International plc [MPI]GB3023231218.091661.9
HSBC Holdings plc [5]GB61581631510.901661.9
China Merchants Holdings International Co. Ltd. [144]HK6416139453.661661.9
Altria Group Inc. [MO]US2692632438.391611.8
Technip SA [TEC]FR4874160296.261601.8
Anadarko Petroleum Corp. [APC]US2032380279.321591.8
Carnival Corp. [CCL]US2523044440.171531.7
Shin-Etsu Chemical Co. Ltd. [4063]JP6804585358.491521.7
First American Financial Corp. [FAF]USB4NFPK4528.201501.7
British American Tobacco plc [BATS]GB0287580353.671481.7
SK Telecom Co. Ltd. [A017670]KR62248711218.841471.7
JP Morgan Chase & Co. [JPM]US2190385258.481441.6
Korea Electric Power Corp. [A015760]KR6495730433.031391.6
BNP Paribas SA [BNP]FR7309681278.011391.6
Hitachi Ltd. [6501]JP6429104187.581361.5
Fairfax Financial Holdings Ltd. [FFH]CA25663510399.261201.3
Tesco plc [TSCO]GB0884709205.551111.2
Aviva plc [AV.]GB0216238157.481091.2
ABB Ltd. [ABBN]CH7108899426.441031.2
Walt Disney Co. [DIS]US2270726176.40921.0
SembCorp Industries Ltd. [U96]SGB08X163214.36921.0
Peugeot SA [UG]FR7103526713.01871.0
SembCorp Marine Ltd. [S51]SG6205133233.54810.9
Lorillard Inc. [LO]USB39GHT7250.68810.9
Link REIT [823]HKB0PB4M7104.86470.5
Total8,59096.6
Cash and Other Assets Less Liabilities3.4
Total Net Assets100%

Sector Allocation (As of Quarter Ended 09/30/2013)

As of Quarter Ended 09/30/2013
Economic SectorHarbor Global Value Fund %MSCI World (ND) Index %
Financials15.920.9
Industrials14.511.3
Energy14.19.6
Consumer Discretionary14.012.3
Health Care12.511.2
Information Technology9.211.7
Consumer Staples7.110.1
Telecommunication Services5.73.7
Materials4.85.8
Utilities0.03.3

Sector Returns (As of Quarter Ended 09/30/2013)

As of Quarter Ended 09/30/2013
Sector ReturnsHarbor Global Value Fund %MSCI World (ND) Index %
Industrials19.811.3
Energy14.57.5
Consumer Discretionary13.810.4
Telecommunication Services11.39.1
Materials11.012.4
Consumer Staples8.13.6
Health Care7.96.7
Financials7.28.3
Information Technology7.28.7
Utilities0.04.4
Cash-6.60.0

Country Allocation (As of Quarter Ended 12/31/2013)

As of Quarter Ended 12/31/2013
CountryHarbor Global Value Fund %MSCI World (ND) Index %
United States39.354.3
United Kingdom16.69.5
France7.33.9
Netherlands5.31.4
Japan5.38.7
Germany4.93.9
Switzerland4.13.6
Canada3.94.1
South Korea3.20.0
Hong Kong2.41.2
Other7.79.4

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 World (ND) Index is a free float-adjusted market capitalization weighted index that is designed to measure global developed market equity performance. This unmanaged index does not reflect fees and expenses and is not available for direct investment.