Harbor Emerging Markets Equity Fund Administrative Class (HREMX)

Portfolio Characteristics (As of Quarter Ended 06/30/2017)

Harbor Emerging Markets Equity FundMSCI Emerging Markets (ND) Index
Number of Holdings72845
Weighted Avg. Market Cap ($Mil)89,157.2276,104.54
Median Market Cap ($Mil)18,345.186,206.61
Price/Book Ratio1.821.96
Adj. Trailing P/E Ratio15.3316.18
Forecasted P/E Ratio12.4214.20
Earnings Growth Rate (%)8.0711.57
Proj. Earnings Growth Rate (%)14.1716.88
Return on Equity (%)13.9814.25
Turnover (unannualized % since 10/31)39-
Beta vs. Fund Benchmark1.09-

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

Top Ten Holdings (As of Quarter Ended 06/30/2017)

Company Name [Ticker]% of Net Assets
Samsung Electronics Co. Ltd. [005930]6.8
Taiwan Semiconductor Manufacturing Co. Ltd. ADR [TSM]5.3
Tencent Holdings Ltd. [700]4.2
Alibaba Group Holding Ltd. ADR [BABA]3.6
Itau Unibanco Holding SA ADR [ITUB]3.0
Vale SA ADR [VALE/P]2.8
Industrial & Commercial Bank of China Ltd. [1398]2.5
ICICI Bank Ltd. ADR [IBN]2.5
China Overseas Land & Investment Ltd. [688]2.1
Bank Rakyat Indonesia Persero Tbk PT [BBRI]2.1
% of Total Holdings:34.9

Full Holdings (As of Quarter Ended 06/30/2017)

Company Name [Ticker]CountryShares (000's)Current Price ($)Market Value ($000's)% of Net Assets
Samsung Electronics Co. Ltd. [005930]KR22082.823,4556.8
Taiwan Semiconductor Manufacturing Co. Ltd. ADR [TSM]TW7634.962,6645.3
Tencent Holdings Ltd. [700]CN5935.872,1274.2
Alibaba Group Holding Ltd. ADR [BABA]CN13140.901,8443.6
Itau Unibanco Holding SA ADR [ITUB]BR13911.051,5383.0
Vale SA ADR [VALE/P]BR1728.151,4022.8
Industrial & Commercial Bank of China Ltd. [1398]CN1,9160.671,2932.5
ICICI Bank Ltd. ADR [IBN]IN1418.971,2652.5
China Overseas Land & Investment Ltd. [688]CN3722.931,0892.1
Bank Rakyat Indonesia Persero Tbk PT [BBRI]ID9431.141,0762.1
Hana Financial Group Inc. [A086790]KR2639.491,0252.0
SK Hynix Inc. [A000660]KR1758.889912.0
Cemex SAB de CV ADR [CX]MX1049.429811.9
LUKOIL Pjsc ADR [LKOD]RU2048.749641.9
China Pacific Insurance Group Co. Ltd. [2601]CN2334.099511.9
China Telecom Corp. Ltd. [728]CN1,9580.479301.8
Petroleo Brasileiro SA ADR [PBR/A]BR1107.468231.6
China Life Insurance Co. Ltd. [2628]CN2463.067521.5
Naspers Ltd. [NPN]ZA4196.937261.4
China Construction Bank Corp. [939]CN9190.787151.4
Alpha Bank AE [ALPHA]GR2842.467001.4
Hon Hai Precision Industry Co. Ltd. [2317]TW1813.846961.4
Grupo Financiero Banorte SAB de CV [GFNORTE O]MX1046.346611.3
Amorepacific Corp. [A090430]KR2265.596571.3
Anhui Conch Cement Co. Ltd. [914]CN1823.486341.3
Tata Consultancy Services Ltd. [TCS]IN1736.516321.2
Sberbank of Russia PJSC ADR [SBER]RU5910.366111.2
Turkiye Halk Bankasi As [HALKB.E]TR1633.746081.2
Hyundai Motor Co. [A005380]KR4139.435921.2
Delta Electronics Inc. [2308]TW1075.475881.2
AngloGold Ashanti Ltd. ADR [AU]ZA599.725761.1
BRF SA ADR [BRFS]BR4811.795681.1
Brilliance China Automotive Holdings Ltd. [1114]CN3081.825611.1
China Merchants Bank Co. Ltd. [3968]CN1813.015451.1
AMBEV SA ADR [ABEV]BR995.495441.1
Aurobindo Pharma Ltd. [ARBP]IN5110.575421.1
Reliance Industries Ltd. [RELIANCE]IN2521.385351.1
Rosneft Oil Co PJSC GDR [ROSN]RU975.445251.0
Samsung Life Insurance Co. Ltd. [A032830]KR5102.235211.0
PhosAgro PJSC GDR [PHOR]RU3813.275011.0
Cvc Brasil Operadora E Agencia de Viagens SA [CVCB3]BR519.784991.0
Firstrand Ltd. [FSR]ZA1383.614981.0
America Movil SAB de CV ADR [AMX]MX3115.924971.0
Indiabulls Housing Finance Ltd. [IHFL]IN3016.734961.0
ICICI Prudential Life Insurance Co. Ltd. [IPRU]IN687.294941.0
Sasol Ltd. [SOL]ZA1828.064921.0
Datang International Power Generation Co. Ltd. [991]CN1,5160.324831.0
China Everbright International Ltd. [257]CN3871.254831.0
China Longyuan Power Group Corp. Ltd. [916]CN6440.734680.9
China Galaxy Securities Co. Ltd. [6881]CN4870.904370.9
Gerdau SA ADR [GGB]BR1423.054320.9
CNOOC Ltd. ADR [CEO]CN4109.414310.9
China Railway Group Ltd. [390]CN5390.794250.8
China Shenhua Energy Co. Ltd. [1088]CN1902.224240.8
Azul SA ADR [AZUL]BR1921.084030.8
Semen Indonesia Persero Tbk PT [SMGR]ID5300.753970.8
Sands China Ltd. [1928]CN844.583860.8
Haier Electronics Group Co. Ltd. [1169]CN1452.603770.7
Axis Bank Ltd.IN468.003710.7
United Bank Ltd. [UBL]PK1292.252900.6
Huadian Power International Corp. Ltd. [1071]CN5820.452600.5
Advantech Co. Ltd. [2395]TW357.082510.5
Polyus Pjsc GDRRU733.252340.5
Bumi Serpong Damai Tbk PT [BSDE]ID1,7020.142330.5
Axis Bank Ltd. [AXSB]IN298.022290.5
West China Cement Ltd. [2233]CN1,2740.151920.4
Sarana Menara Nusantara TBK PT [TOWR]ID6600.281880.4
Tianhe Chemicals Group Ltd. [1619]CN2,6840.061510.3
Barclays African Group Ltd. [BGA]ZA1411.001490.3
United Bank Ltd. [JPMCW1M3]PK552.251230.2
L&T Technology Services Ltd. [LTTS]IN611.09710.1
Reliance Industries Ltd. [JPMCW1N5]IN021.3500.0
Total49,27297.5
Cash and Other Assets Less Liabilities2.5
Total Net Assets100%

Sector Allocation (As of Quarter Ended 06/30/2017)

As of Quarter Ended 06/30/2017
Economic SectorHarbor Emerging Markets Equity Fund %MSCI Emerging Markets (ND) Index %
Financials30.323.6
Information Technology26.126.7
Materials11.87.1
Energy7.36.5
Consumer Discretionary6.210.6
Consumer Staples3.56.7
Telecommunication Services3.25.4
Industrials2.75.7
Real Estate2.62.7
Utilities2.42.6
Health Care1.12.4

Sector Returns (As of Quarter Ended 06/30/2017)

As of Quarter Ended 06/30/2017
Sector ReturnsHarbor Emerging Markets Equity Fund %MSCI Emerging Markets (ND) Index %
Information Technology15.515.5
Financials8.94.1
Consumer Discretionary8.28.5
Real Estate3.111.5
Telecommunication Services2.62.1
Health Care1.94.4
Cash0.60.0
Materials-1.4-0.4
Consumer Staples-1.55.2
Energy-2.6-4.8
Utilities-6.8-1.5
Industrials-7.43.2

Country Allocation (As of Quarter Ended 06/30/2017)

As of Quarter Ended 06/30/2017
CountryHarbor Emerging Markets Equity Fund %MSCI Emerging Markets (ND) Index %
China31.527.9
South Korea14.315.6
Brazil12.26.6
India9.18.8
Taiwan8.312.5
Russia5.63.2
South Africa4.86.6
Mexico4.23.7
Indonesia3.72.5
Greece1.40.4
Other4.912.2

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 Emerging Markets (ND) Index is a market capitalization weighted index of equity securities in more than 20 emerging market economies. This unmanaged index does not reflect fees and expenses and is not available for direct investment.