Harbor Unconstrained Bond Fund Administrative Class (HRUBX)

Portfolio Characteristics (As of Quarter Ended 06/30/2014)

 Harbor Unconstrained Bond FundBofA Merrill Lynch US Dollar 3-Month LIBOR Constant Maturity Index
Number of Bonds152-
Weighted Avg. Maturity (Life) (yrs)5.340.25
Average Market Coupon (%)2.36-
Yield to Maturity (%)3.27-
Weighted Avg. Duration (yrs)2.960.25

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

Top Ten Holdings (As of Quarter Ended 06/30/2014)

SecuritiesMaturity DateCoupon Rate (%)Market Value ($000's)% of Net Assets
U.S. Treasury Floating Rate Note04/30/20160.14,50110.7
Italy Buoni Poliennali del Tesoro07/15/20154.52,4265.8
Italy Buoni Poliennali del Tesoro08/01/20153.82,4105.7
Countrywide Asset-Backed Certificates09/25/20360.41,7674.2
Volkswagen International Finance NV11/20/20151.21,2072.9
Federal National Mortgage Association TBA07/17/20274.01,0622.5
American International Group Inc.08/24/20152.41,0182.4
Mexico Cetes08/21/20140.08902.1
Bear Stearns Asset Backed Securities Trust09/25/20460.68071.9
Spain Government Bond07/30/20154.07121.7
% of Total Holdings:16,80039.9

Full Holdings (As of Quarter Ended 06/30/2014)

SecuritiesMaturity DateCoupon Rate (%)Market Value ($000's)% of Net Assets
U.S. Treasury Floating Rate Note04/30/20160.14,50110.7
Italy Buoni Poliennali del Tesoro07/15/20154.52,4265.8
Italy Buoni Poliennali del Tesoro08/01/20153.82,4105.7
Countrywide Asset-Backed Certificates09/25/20360.41,7674.2
Volkswagen International Finance NV11/20/20151.21,2072.9
Federal National Mortgage Association TBA07/17/20274.01,0622.5
American International Group Inc.08/24/20152.41,0182.4
Mexico Cetes08/21/20140.08902.1
Bear Stearns Asset Backed Securities Trust09/25/20460.68071.9
Spain Government Bond07/30/20154.07121.7
Mexico Cetes09/04/20140.06891.6
Spain Government Bond04/30/20172.15681.4
Ally Financial Inc.12/01/20146.85121.2
International Lease Finance Corp.04/01/20154.94741.1
First Franklin Mortgage Loan Trust10/25/20341.64611.1
Ally Financial Inc.02/15/20175.54341.0
Community Health Systems Inc.08/15/20185.14211.0
Brazil Letras Do Tesouro Nacional04/01/20150.04181.0
JP Morgan Chase & Co.03/01/20163.44181.0
Verizon Communications Inc.09/15/20162.54131.0
BellSouth Corp.04/26/20214.24121.0
Morgan Stanley ABS Capital I01/25/20370.24111.0
Hellenic Republic Treasury Bills09/19/20140.04091.0
Ford Motor Credit Co. LLC05/15/20152.84081.0
Illinois State01/01/20154.44081.0
Ford Motor Credit Co. LLC MTN01/17/20171.04031.0
Imperial Tobacco Finance plc02/11/20182.04031.0
Wachovia Bank Commercial Mortgage Trust06/15/20495.93980.9
U.S. Treasury Inflation Indexed Bonds07/15/20201.23580.9
Countrywide Asset-Backed Certificates06/25/20470.33400.8
Bank of America Corp.12/01/20175.83390.8
Countrywide Asset-Backed Certificates08/25/20370.33280.8
International Lease Finance Corp.09/15/20158.63260.8
Ford Motor Credit Co. LLC04/15/20164.23170.8
Sberbank of Russia Via SB Capital SA07/07/20155.53120.7
VTB Bank OJSC Via VTB Capital SA03/04/20156.53090.7
CIT Group Inc.02/15/20154.83070.7
JP Morgan Chase & Co. MTN10/15/20151.13010.7
Wachovia Bank NA11/03/20140.63000.7
Pricoa Global Funding 1 Secured 144A 05/16 Var05/16/20160.43000.7
ING Bank NV01/04/20160.63000.7
Sierra Madre Funding Ltd.09/07/20390.62800.7
Spain Government Bond04/30/20153.02800.7
Avoca Capital09/15/20210.72760.7
JP Morgan Mortgage Trust04/25/20362.82720.6
New York City NY12/01/20245.92430.6
BPCE SA07/21/20245.22120.5
Gazprom OAO Via Gaz Capital SA11/29/20155.12090.5
CIT Group Inc.08/15/20174.22090.5
Ally Financial Inc.07/18/20163.52070.5
U.S. Treasury Inflation Indexed Bonds01/15/20230.12050.5
Bank of America Corp.01/11/20182.02010.5
Sinopec Group Overseas Development 2014 Ltd.04/10/20171.02000.5
UnitedHealth Group Inc.08/28/20140.42000.5
Metropolitan Life Global Funding I06/23/20160.42000.5
Washington Mutual Mortgage Pass Through Certificates04/25/20374.61760.4
Berica ABS Srl12/31/20550.51720.4
JP Morgan Mortgage Acquisition Corp.05/25/20360.41670.4
Mexico Cetes08/07/20140.01540.4
California State11/01/20407.61510.4
Slovenia Government Bond11/01/20164.71480.4
Spain Government Bond07/30/20163.31450.3
Italy Buoni Poliennali del Tesoro04/22/20172.21430.3
Morgan Stanley Capital I Trust04/15/20495.71410.3
Italy Certificati di Credito del Tesoro06/30/20150.01360.3
SLM Student Loan Trust05/16/20443.41350.3
Sierra Madre Funding Ltd.09/07/20390.51210.3
SLM Corp. Sr Unsecured 06/18 8.4506/15/20188.41180.3
Merrill Lynch Mortgage Investors Trust01/25/20291.91140.3
Merrill Lynch & Co. Inc. MTN08/28/20176.41140.3
Credit-Based Asset Servicing and Securitization LLC03/25/20374.21130.3
Credit-Based Asset Servicing and Securitization LLC03/25/20374.21120.3
Bank of America Corp.08/01/20166.51110.3
COX Communications Inc.12/01/20165.91110.3
MGM Resorts International04/01/20166.91090.3
Verizon Communications Inc.09/14/20183.61070.3
Abbey National Treasury Services plc04/27/20164.01050.3
HSBC Finance Corp.04/15/20155.21040.2
Ally Financial Inc.06/26/20154.61030.2
Citigroup Inc.01/15/20156.01030.2
Brazil Letras Do Tesouro Nacional01/01/20170.01030.2
Verizon Communications Inc.09/15/20161.81030.2
Kroger Co.01/15/20172.21030.2
COX Communications Inc.12/15/20145.41020.2
JP Morgan Chase & Co.01/25/20181.11010.2
Mylan Inc.06/24/20161.81010.2
Morgan Stanley02/25/20161.81010.2
Petrobras Global Finance BV03/17/20172.61010.2
DISH DBS Corp.10/01/20146.61010.2
Citigroup Inc.07/25/20161.21010.2
AES Corp.06/01/20193.21010.2
International Lease Finance Corp.09/01/20146.51010.2
Bank of America Corp.03/22/20161.01010.2
JP Morgan Chase & Co. MTN02/26/20160.81010.2
Federal Home Loan Mortgage Corp.04/15/204411.71000.2
Goldman Sachs Group Inc.01/12/20150.71000.2
Wells Fargo & Co.10/28/20150.41000.2
HJ Heinz Co.06/05/20203.51000.2
Bank of America Corp.08/15/20160.6990.2
Stone Tower Capital LLC04/17/20210.5980.2
Washington Mutual Mortgage Pass Through Certificates03/25/20372.1970.2
Federal Home Loan Mortgage Corp.02/15/204413.1970.2
Mexico Cetes11/13/20140.0910.2
JP Morgan Chase Commercial Mortgage Securities Trust05/15/20455.4910.2
Morgan Stanley ABS Capital I01/25/20360.4890.2
Federal National Mortgage Association11/01/20422.8880.2
Mexico Cetes10/30/20140.0840.2
Granite Mortgages plc09/20/20440.9820.2
Buckeye Tobacco Settlement Financing Authority06/01/20426.0820.2
Buckeye Tobacco Settlement Financing Authority06/01/20475.9800.2
Mexico Cetes07/24/20140.0770.2
Wachovia Bank Commercial Mortgage Trust02/15/20516.1700.2
Countrywide Asset-Backed Certificates07/25/20365.3690.2
Triaxx Prime CLO10/02/20390.4690.2
Banc of America Funding Corp.06/20/20470.4690.2
Huntington CLO Ltd.11/05/20400.5670.2
Morgan Stanley ABS Capital I11/25/20360.3620.1
Wachovia Bank Commercial Mortgage Trust07/15/20455.7620.1
Citigroup Mortgage Loan Trust Inc.08/25/20351.7610.1
BCAP LLC Trust06/26/20365.2600.1
Securitized Asset Backed Receivables LLC Trust02/25/20340.9570.1
Structured Asset Securities Corp.09/25/20355.5560.1
Wynn Las Vegas LLC08/15/20207.8550.1
Washington Mutual Mortgage Pass Through Certificates07/25/20450.5500.1
Ownit Mortgage Loan Asset Backed Certificates05/25/20370.3480.1
Structured Asset Investment Loan Trust10/25/20350.5470.1
Mexico Cetes09/11/20140.0460.1
Newcastle CLO V Ltd.12/24/20390.6460.1
Belle Haven ABS CLO Ltd.11/03/20440.6430.1
ACE Securities Corp. Home Equity Loan Trust08/25/20360.3400.1
Bear Stearns Adjustable Rate Mortgage Trust08/25/20352.2380.1
First Horizon Asset Securities Inc.10/25/20352.6340.1
Indymac Residential Asset Backed Trust07/25/20370.3340.1
American Home Mortgage Assets Trust09/25/20461.1330.1
Wachovia Bank Commercial Mortgage Trust06/15/20200.2310.1
Federal National Mortgage Association REMIC03/25/20340.3280.1
Ally Financial Inc.05/15/20168.5250.1
Banc of America Alternative Loan Trust04/25/20335.8230.1
Impac CMB Trust09/25/20340.8220.1
Belle Haven ABS CLO Ltd.11/03/20440.6210.1
Bear Stearns Adjustable Rate Mortgage Trust03/25/20355.0180.0
JP Morgan Alternative Loan Trust07/25/20360.3160.0
Banc of America Funding Corp.06/20/20322.7150.0
Federal National Mortgage Association02/01/20264.5140.0
Washington Mutual Mortgage Pass Through Certificates04/25/20450.4120.0
JP Morgan Mortgage Trust06/25/20215.9120.0
Indymac Index Mortgage Loan Trust10/25/20342.5100.0
MASTR Adjustable Rate Mortgages Trust05/25/20342.2100.0
Bear Stearns Adjustable Rate Mortgage Trust01/25/20352.690.0
Federal Home Loan Mortgage Corp.10/25/20211.790.0
Granite Mortgages plc01/20/20440.780.0
Federal National Mortgage Association07/01/20322.380.0
Total39,88794.2
Cash and Other Assets Less Liabilities5.8
Total Net Assets100%

Sector Allocation (As of Quarter Ended 06/30/2014)

As of Quarter Ended 06/30/2014
Economic SectorHarbor Unconstrained Bond Fund %
Corporate Bonds & Notes31.9
Foreign Government Obligations23.6
Asset-backed Securities14.5
U.S. Government Obligations12.1
Collateralized Mortgage Obligations5.4
Mortgage Pass-through3.3
Municipal Bonds2.3
Financials1.6
Bank Loan Obligations0.2

Maturity Profile (As of Quarter Ended 06/30/2014)

As of Quarter Ended 06/30/2014
MaturityHarbor Unconstrained Bond Fund %
0-1 yr0.0
1-3 yr45.8
3-5 yr37.5
5-7 yr14.0
7-10 yr-0.0
10-20 yr1.3
20-30 yr1.6
Over 30 yr-0.2

Duration (As of Quarter Ended 06/30/2014)

As of Quarter Ended 06/30/2014
DurationHarbor Unconstrained Bond Fund %
0-1 yr52.2
1-3 yr26.1
3-5 yr26.2
5-7 yr11.4
7-10 yr-12.8
10-20 yr4.1
20-30 yr-7.1
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. Aggregate Bond Index is an unmanaged index of investment-grade fixed-rate debt issues with maturities of at least one year. This unmanaged index does not reflect fees and expenses and is not available for direct investment.

The BofA Merrill Lynch US Dollar 3-Month LIBOR Constant Maturity Index tracks the performance of a synthetic asset paying Libor to a stated maturity. The index is based on the assumed purchase at par of a synthetic instrument having exactly its stated maturity and with a coupon equal to that day's fixing rate. That issue is assumed to be sold the following business day (priced at a yield equal to the current day fixing rate) and rolled into a new instrument.