Harbor Commodity Real Return Strategy Fund Administrative Class (HCMRX)

Portfolio Characteristics (As of Quarter Ended 03/31/2017)

Harbor Commodity Real Return Strategy FundBloomberg Commodity Index Total ReturnSM
Number of Issues87-
Average Market Coupon (%)1.14-
Yield to Maturity (%)2.43-
Weighted Avg. Maturity (yrs)2.97-
Weighted Avg. Duration (yrs)2.88-

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

Top Ten Holdings (As of Quarter Ended 03/31/2017)

SecuritiesMaturity DateCoupon Rate (%)Market Value ($000's)% of Net Assets
U.S. Treasury Inflation Indexed Bonds07/15/20191.97,73511.9
U.S. Treasury Inflation Indexed Bonds04/15/20180.16,86710.6
U.S. Treasury Inflation Indexed Bonds07/15/20210.64,5327.0
U.S. Treasury Inflation Indexed Bonds07/15/20201.24,2466.6
U.S. Treasury Inflation Indexed Bonds04/15/20200.13,5805.5
U.S. Treasury Inflation Indexed Bonds07/15/20230.43,3055.1
U.S. Treasury Inflation Indexed Bonds01/15/20252.43,2125.0
U.S. Treasury Inflation Indexed Bonds07/15/20220.13,1434.9
U.S. Treasury Inflation Indexed Bonds07/15/20240.12,9924.6
U.S. Treasury Inflation Indexed Bonds04/15/20190.12,9874.6
% of Total Holdings:42,59965.8

Full Holdings (As of Quarter Ended 03/31/2017)

SecuritiesMaturity DateCoupon Rate (%)Market Value ($000's)% of Net Assets
U.S. Treasury Inflation Indexed Bonds07/15/20191.97,73511.9
U.S. Treasury Inflation Indexed Bonds04/15/20180.16,86710.6
U.S. Treasury Inflation Indexed Bonds07/15/20210.64,5327.0
U.S. Treasury Inflation Indexed Bonds07/15/20201.24,2466.6
U.S. Treasury Inflation Indexed Bonds04/15/20200.13,5805.5
U.S. Treasury Inflation Indexed Bonds07/15/20230.43,3055.1
U.S. Treasury Inflation Indexed Bonds01/15/20252.43,2125.0
U.S. Treasury Inflation Indexed Bonds07/15/20220.13,1434.9
U.S. Treasury Inflation Indexed Bonds07/15/20240.12,9924.6
U.S. Treasury Inflation Indexed Bonds04/15/20190.12,9874.6
U.S. Treasury Inflation Indexed Bonds07/15/20181.42,8834.5
U.S. Treasury Notes02/28/20221.92,2953.5
Brazil Letras Do Tesouro Nacional01/01/20180.02,1453.3
U.S. Treasury Inflation Indexed Bonds01/15/20250.21,9123.0
Cooperatieve Rabobank UA04/28/20171.41,8002.8
U.S. Treasury Inflation Indexed Bonds01/15/20240.61,7272.7
Brazil Letras Do Tesouro Nacional10/01/20170.01,4902.3
U.S. Treasury Inflation Indexed Bonds07/15/20250.41,2942.0
U.S. Treasury Inflation Indexed Bonds01/15/20292.51,2882.0
Telefonica Emisiones Sau06/23/20171.81,2011.9
U.S. Treasury Inflation Indexed Bonds01/15/20260.61,1141.7
U.S. Treasury Inflation Indexed Bonds04/15/20210.11,0361.6
UBS Group Funding Jersey Ltd.04/14/20212.81,0351.6
Federal National Mortgage Association TBA04/12/20473.09921.5
New Zealand Government Bond09/20/20252.08811.4
Realkredit Danmark AS04/01/20171.08751.4
U.S. Treasury Inflation Indexed Bonds02/15/20441.47131.1
U.S. Treasury Inflation Indexed Bonds01/15/20270.47011.1
Realkredit Danmark AS04/01/20172.05740.9
People's Choice Home Loan Securities Trust01/25/20351.85450.8
SLM Student Loan Trust12/15/20230.04370.7
Deutsche Bank AG10/14/20214.24100.6
Venture CLO Ltd.01/20/20221.33720.6
U.K. Gilt Inflation Linked11/22/20650.13470.5
Bear Stearns Asset Backed Securities Trust07/25/20361.43080.5
U.S. Treasury Inflation Indexed Bonds01/15/20262.02780.4
Federal National Mortgage Association02/01/20414.02690.4
Morgan Stanley ABS Capital I Inc. Trust10/25/20361.12670.4
U.K. Gilt Inflation Linked03/22/20440.12660.4
U.K. Gilt Inflation Linked03/22/20260.12660.4
Nykredit Realkredit AS04/01/20172.02580.4
Small Business Administration Participation Certificates11/01/20275.52540.4
Credit Suisse Group Funding Guernsey Ltd.09/15/20223.82540.4
U.S. Treasury Inflation Indexed Bonds04/15/20293.92450.4
Royal Bank of Scotland plc MTN04/09/20186.92270.4
Mexican Bonos06/14/20184.82220.3
Sse plc10/01/20175.62190.3
U.S. Treasury Inflation Indexed Bonds01/15/20230.12100.3
Argentine Republic Government International Bond01/26/20276.92030.3
Unibail-Rodamco SE MTN04/16/20191.81990.3
Petrobras Global Finance BV05/20/20234.41900.3
Nykredit Realkredit AS07/01/20172.01880.3
Hillmark Funding Ltd.05/21/20211.31800.3
Soundview Home Loan Trust05/25/20361.31780.3
U.K. Gilt Inflation Linked03/22/20460.11720.3
Morgan Stanley Mortgage Loan Trust06/25/20362.91450.2
Nykredit Realkredit AS10/01/20172.01450.2
BG Energy Capital plc11/30/20726.51300.2
Nykredit Realkredit AS04/01/20171.01150.2
Autonomous Community of Catalonia02/11/20205.01140.2
MASTR Asset Backed Securities Trust06/25/20361.21110.2
AT&T Inc.10/01/20195.91090.2
Petrobras Global Finance BV01/17/20226.11050.2
Navient Corp. MTN01/15/20195.51040.2
Mexican Bonos de Proteccion Al Ahorro06/29/20176.11030.2
AT&T Inc.01/15/20201.61010.2
ING Bank NV MTN12/05/20222.61000.2
Navient Student Loan Trust03/25/20662.1990.2
Nykredit Realkredit AS10/01/20472.5830.1
U.K. Gilt Inflation Linked03/22/20240.1810.1
U.S. Treasury Inflation Indexed Bonds07/15/20260.1790.1
Nordea Kredit Realkreditaktieselskab10/01/20172.0730.1
Realkredit Danmark AS10/01/20472.5700.1
Morgan Stanley ABS Capital I Inc. Trust10/25/20361.1600.1
Brfkredit AS10/01/20172.0580.1
Nordea Kredit Realkreditaktieselskab10/01/20171.0430.1
Nykredit Realkredit AS07/01/20171.0430.1
U.S. Treasury Inflation Indexed Bonds02/15/20412.1420.1
Brfkredit AS01/01/20184.0300.0
Realkredit Danmark AS04/01/20181.0290.0
Countrywide Asset-Backed Certificates04/25/20365.5280.0
U.K. Gilt Inflation Linked03/22/20580.1270.0
U.S. Treasury Inflation Indexed Bonds01/15/20281.8260.0
Nordea Kredit Realkreditaktieselskab10/01/20172.0150.0
Brfkredit AS10/01/20472.5140.0
Nordea Kredit Realkreditaktieselskab10/01/20472.5140.0
Nykredit Realkredit AS10/01/20473.0130.0
Total77,828120.4
Cash and Other Assets Less Liabilities-20.4
Total Net Assets100%

Sector Allocation (As of Quarter Ended 03/31/2017)

As of Quarter Ended 03/31/2017
Economic SectorHarbor Commodity Real Return Strategy Fund %
U.S. Government Obligations90.2
Corporate Bonds & Notes13.6
Foreign Government Obligations9.8
Asset-backed Securities4.4
Mortgage Pass-through1.9
Collateralized Mortgage Obligations0.2

Benchmark Sectors (As of Quarter Ended 03/31/2017)

As of Quarter Ended 03/31/2017
Economic SectorBloomberg Commodity Index Total ReturnSM %
Energy29.1
Grains20.5
Industrial Metals18.5
Precious Metals16.5
Softs6.6
Livestock6.3
Vegetable Oil2.5

Maturity Profile (As of Quarter Ended 03/31/2017)

As of Quarter Ended 03/31/2017
MaturityHarbor Commodity Real Return Strategy Fund %
0-1 yr-7.4
1-3 yr48.8
3-5 yr22.6
5-7 yr11.0
7-10 yr33.4
10-20 yr-2.0
20-30 yr-4.2
Over 30 yr-2.2

Duration (As of Quarter Ended 03/31/2017)

As of Quarter Ended 03/31/2017
DurationHarbor Commodity Real Return Strategy Fund %
0-1 yr-6.1
1-3 yr21.7
3-5 yr15.3
5-7 yr76.6
7-10 yr28.1
10-20 yr-11.7
20-30 yr-33.6
Over 30 yr9.6

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.