Harbor Commodity Real Return Strategy Fund Administrative Class (HCMRX)

Portfolio Characteristics (As of Quarter Ended 09/30/2016)

 Harbor Commodity Real Return Strategy FundBloomberg Commodity Index Total ReturnSM
Number of Issues95-
Average Market Coupon (%)1.35-
Yield to Maturity (%)2.05-
Weighted Avg. Maturity (yrs)2.95-
Weighted Avg. Duration (yrs)2.73-

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

Top Ten Holdings (As of Quarter Ended 09/30/2016)

SecuritiesMaturity DateCoupon Rate (%)Market Value ($000's)% of Net Assets
U.S. Treasury Inflation Indexed Bonds04/15/20180.117,45422.7
U.S. Treasury Inflation Indexed Bonds07/15/20191.97,75110.1
U.S. Treasury Inflation Indexed Bonds07/15/20210.67,3549.6
U.S. Treasury Inflation Indexed Bonds07/15/20201.25,0876.6
U.S. Treasury Inflation Indexed Bonds07/15/20240.14,1225.4
U.S. Treasury Inflation Indexed Bonds04/15/20190.12,9993.9
U.S. Treasury Inflation Indexed Bonds07/15/20181.42,8793.7
U.S. Treasury Notes05/15/20261.62,5053.3
Brazil Letras Do Tesouro Nacional01/01/20170.02,4723.2
U.S. Treasury Inflation Indexed Bonds01/15/20252.42,3783.1
% of Total Holdings:55,00171.6

Full Holdings (As of Quarter Ended 09/30/2016)

SecuritiesMaturity DateCoupon Rate (%)Market Value ($000's)% of Net Assets
U.S. Treasury Inflation Indexed Bonds04/15/20180.117,45422.7
U.S. Treasury Inflation Indexed Bonds07/15/20191.97,75110.1
U.S. Treasury Inflation Indexed Bonds07/15/20210.67,3549.6
U.S. Treasury Inflation Indexed Bonds07/15/20201.25,0876.6
U.S. Treasury Inflation Indexed Bonds07/15/20240.14,1225.4
U.S. Treasury Inflation Indexed Bonds04/15/20190.12,9993.9
U.S. Treasury Inflation Indexed Bonds07/15/20181.42,8793.7
U.S. Treasury Notes05/15/20261.62,5053.3
Brazil Letras Do Tesouro Nacional01/01/20170.02,4723.2
U.S. Treasury Inflation Indexed Bonds01/15/20252.42,3783.1
U.S. Treasury Inflation Indexed Bonds04/15/20200.12,3063.0
U.S. Treasury Inflation Indexed Bonds01/15/20240.62,1682.8
Cooperatieve Centrale Raiffeisen-Boerenleenbank BA/NY04/28/20171.12,1012.7
Federal National Mortgage Association TBA11/14/20463.02,0752.7
U.S. Treasury Inflation Indexed Bonds07/15/20230.41,7502.3
U.S. Treasury Inflation Indexed Bonds02/15/20441.41,6772.2
U.S. Treasury Bonds02/15/20462.51,5972.1
JP Morgan Chase & Co. MTN04/25/20181.31,5902.1
Italy Buoni Poliennali del Tesoro09/15/20242.41,4291.9
Telefonica Emisiones Sau06/23/20171.51,3991.8
Brazil Letras Do Tesouro Nacional04/01/20170.01,2421.6
U.S. Treasury Inflation Indexed Bonds01/15/20292.51,1991.6
U.K. Gilt Inflation Linked03/22/20240.11,0871.4
UBS Group Funding Jersey Ltd.04/14/20212.51,0251.3
Citigroup Mortgage Loan Trust Inc.09/25/20351.29631.3
New Zealand Government Bond09/20/20252.09491.2
Realkredit Danmark AS04/01/20171.09271.2
U.S. Treasury Inflation Indexed Bonds07/15/20250.47351.0
Structured Asset Investment Loan Trust05/25/20360.76840.9
First Franklin Mortgage Loan Trust06/25/20361.36830.9
Realkredit Danmark AS04/01/20172.06110.8
U.S. Treasury Notes08/31/20211.16000.8
U.K. Gilt Inflation Linked03/22/20260.15830.8
SLM Student Loan Trust12/15/20230.05600.7
People's Choice Home Loan Securities Trust01/25/20351.85390.7
U.S. Treasury Inflation Indexed Bonds07/15/20220.15260.7
U.S. Treasury Inflation Indexed Bonds04/15/20293.94870.6
U.S. Treasury Inflation Indexed Bonds01/15/20250.24560.6
Wachovia Mortgage Loan Trust LLC10/20/20353.14370.6
Ally Financial Inc.02/15/20175.54050.5
Bear Stearns Asset Backed Securities Trust07/25/20360.93940.5
Venture CLO Ltd.01/20/20220.93860.5
Hillmark Funding Ltd.05/21/20211.13620.5
Citigroup Mortgage Loan Trust Inc.08/25/20360.73580.5
Federal National Mortgage Association02/01/20414.03200.4
France Government Bond Oat07/25/20271.83160.4
U.K. Gilt Inflation Linked03/22/20440.13030.4
Small Business Administration Participation Certificates11/01/20275.53030.4
Navient Corp. MTN11/01/20161.32990.4
Realkredit Danmark AS01/01/20171.02880.4
Morgan Stanley ABS Capital I Inc. Trust10/25/20360.72830.4
Nykredit Realkredit AS04/01/20172.02750.4
First Franklin Mortgage Loan Trust11/25/20351.22710.4
Credit Suisse Group Funding Guernsey Ltd.09/15/20223.82560.3
Royal Bank of Scotland plc MTN04/09/20186.92440.3
Sse plc10/01/20175.62350.3
Hellenic Railways Organization SA03/17/20174.02210.3
Mexican Bonos06/14/20184.82170.3
U.S. Treasury Inflation Indexed Bonds01/15/20230.12120.3
Nykredit Realkredit AS07/01/20172.02000.3
Unibail-Rodamco SE MTN04/16/20191.41990.3
Morgan Stanley Mortgage Loan Trust06/25/20362.61890.2
U.S. Treasury Inflation Indexed Bonds07/15/20260.11830.2
Petrobras Global Finance BV05/20/20234.41790.2
Soundview Home Loan Trust05/25/20360.81670.2
Nykredit Realkredit AS10/01/20172.01540.2
BG Energy Capital plc11/30/20726.51370.2
Stone Tower Capital LLC04/17/20210.91320.2
Nykredit Realkredit AS04/01/20171.01220.2
Realkredit Danmark AS01/01/20172.01210.2
Autonomous Community of Catalonia02/11/20205.01200.2
MASTR Asset Backed Securities Trust06/25/20360.81200.2
Banca Carige SpA MTN11/25/20163.81130.1
National Bank of Greece SA10/07/20163.91120.1
ING Bank NV MTN12/05/20222.61040.1
Navient Corp. MTN01/15/20195.51020.1
Aetna Inc.12/08/20171.51000.1
Mexican Bonos de Proteccion Al Ahorro06/29/20174.3990.1
Commercial Industrial Finance Corp.05/10/20211.1900.1
Thornburg Mortgage Securities Trust07/25/20362.8850.1
U.S. Treasury Inflation Indexed Bonds01/15/20272.4730.1
Eurosail-UK plc06/13/20451.3700.1
Marche Mutui Srl01/27/20642.0660.1
Morgan Stanley ABS Capital I Inc. Trust10/25/20360.6640.1
Countrywide Asset-Backed Certificates04/25/20365.5510.1
Nordea Kredit Realkreditaktieselskab10/01/20171.0460.1
Nykredit Realkredit AS07/01/20171.0460.1
Brfkredit AS10/01/20172.0310.0
Nordea Kredit Realkreditaktieselskab10/01/20172.0310.0
U.K. Gilt Inflation Linked03/22/20580.1280.0
U.S. Treasury Inflation Indexed Bonds01/15/20281.8270.0
U.K. Gilt Inflation Linked03/22/20460.1230.0
Marche Mutui Srl02/25/20550.1190.0
U.S. Treasury Inflation Indexed Bonds01/15/20260.6110.0
Mexican Udibonos11/08/20464.090.0
Total96,757126.1
Cash and Other Assets Less Liabilities-26.1
Total Net Assets100%

Sector Allocation (As of Quarter Ended 09/30/2016)

As of Quarter Ended 09/30/2016
Economic SectorHarbor Commodity Real Return Strategy Fund %
U.S. Government Obligations86.6
Corporate Bonds & Notes14.9
Foreign Government Obligations11.8
Asset-backed Securities8.3
Mortgage Pass-through3.1
Collateralized Mortgage Obligations1.1

Benchmark Sectors (As of Quarter Ended 09/30/2016)

As of Quarter Ended 09/30/2016
Economic SectorBloomberg Commodity Index Total ReturnSM %
Energy37.1
Grains17.0
Industrial Metals16.4
Precious Metals15.1
Softs8.5
Livestock3.3
Vegetable Oil2.6

Maturity Profile (As of Quarter Ended 09/30/2016)

As of Quarter Ended 09/30/2016
MaturityHarbor Commodity Real Return Strategy Fund %
0-1 yr10.4
1-3 yr62.6
3-5 yr31.5
5-7 yr-21.0
7-10 yr17.4
10-20 yr-2.1
20-30 yr1.9
Over 30 yr-0.8

Duration (As of Quarter Ended 09/30/2016)

As of Quarter Ended 09/30/2016
DurationHarbor Commodity Real Return Strategy Fund %
0-1 yr-0.5
1-3 yr27.8
3-5 yr-2.1
5-7 yr29.0
7-10 yr26.3
10-20 yr-9.2
20-30 yr28.2
Over 30 yr0.6

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 Bloomberg Commodity Index Total ReturnSM is a broadly diversified index that tracks the commodities markets through commodity futures contracts.