Harbor Small Cap Growth Opportunities Fund Administrative Class (HRSOX)

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

 Harbor Small Cap Growth Opportunities FundRussell 2000® Growth Index
Number of Holdings961,154
Weighted Avg. Market Cap ($Mil)1,422.601,979.59
Median Market Cap ($Mil)1,245.68845.13
Price/Book Ratio3.314.00
Adj. Trailing P/E Ratio17.0421.42
Forecasted P/E Ratio22.7919.88
Earnings Growth Rate (%)13.0012.44
Proj. Earnings Growth Rate (%)18.2414.80
Return on Equity (%)5.2810.64
Turnover (unannualized % since 10/31)81-
Beta vs. Russell 2000® Growth Index0.97-
Beta vs. Russell 3000® Index1.16-

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

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

Company Name [Ticker]% of Net Assets
Synchronoss Technologies Inc. [SNCR]3.5
Maxlinear Inc. [MXL]3.3
WNS Holdings Ltd. ADR [WNS]2.1
Logmein Inc. [LOGM]2.1
Endologix Inc. [ELGX]2.1
Wageworks Inc. [WAGE]2.0
Wright Medical Group NV [WMGI]1.8
Gogo Inc. [GOGO]1.7
Cerus Corp. [CERS]1.6
Interxion Holding NV [INXN]1.6
% of Total Holdings:21.8

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

Company Name [Ticker]CountryShares (000's)Current Price ($)Market Value ($000's)% of Net Assets
Synchronoss Technologies Inc. [SNCR]US17841.187,3263.5
Maxlinear Inc. [MXL]US33820.276,8453.3
WNS Holdings Ltd. ADR [WNS]IN14629.954,3792.1
Logmein Inc. [LOGM]US4890.394,3552.1
Endologix Inc. [ELGX]US33612.804,2982.1
Wageworks Inc. [WAGE]US6960.914,1942.0
Wright Medical Group NV [WMGI]NL15424.533,7841.8
Gogo Inc. [GOGO]US32011.043,5351.7
Cerus Corp. [CERS]US5546.213,4371.6
Interxion Holding NV [INXN]NL9036.223,2581.6
Novadaq Technologies Inc. [NVDQ]CA27811.573,2171.5
National General Holdings Corp. [NGHC]US14422.243,1921.5
Blackhawk Network Holdings Inc. [HAWK]US10530.173,1811.5
ICU Medical Inc. [ICUI]US25126.383,1581.5
Vocera Communications Inc. [VCRA]US18516.903,1321.5
Innerworkings Inc. [INWK]US3329.423,1281.5
Clubcorp Holdings Inc. [MYCC]US20714.472,9901.4
Churchill Downs Inc. [CHDN]US20146.352,9601.4
Exact Sciences Corp. [EXAS]US15718.572,9201.4
LendingTree Inc. [TREE]US2896.912,7141.3
Chegg Inc. [CHGG]US3827.092,7091.3
On Assignment Inc. [ASGN]US7436.292,6721.3
Teligent Inc. [TLGT]US3467.602,6301.3
Callidus Software Inc. [CALD]US14318.352,6201.3
Penn National Gaming Inc. [PENN]US19113.572,5891.2
Merit Medical Systems Inc. [MMSI]US10624.292,5781.2
Nuvasive Inc. [NUVA]US3966.662,5721.2
Bankrate Inc. [RATE]US2968.482,5081.2
MDC Partners Inc. [MDCA]CA23010.722,4621.2
Evolent Health Inc. [EVH]US9624.622,3661.1
Party City Holdco Inc. [PRTY]US13617.122,3291.1
Vasco Data Security International Inc. [VDSI]US13217.612,3241.1
Caesarstone Ltd. [CSTE]IL6037.712,2451.1
Century Communities Inc. [CCS]US10321.512,2071.1
Korn/Ferry International [KFY]US10521.002,2001.1
Planet Fitness Inc. [PLNT]US10620.072,1221.0
Pacira Pharmaceuticals Inc. [PCRX]US6134.222,1011.0
Tubemogul Inc. [TUBE]US2239.372,0901.0
Infoblox Inc. [BLOX]US7926.372,0891.0
Infinera Corp. [INFN]US2299.032,0681.0
Beacon Roofing Supply Inc. [BECN]US4842.072,0171.0
Angie's List Inc. [ANGI]US2039.912,0141.0
Medicines Co. [MDCO]US5337.742,0131.0
Barnes Group Inc. [B]US4940.551,9971.0
Aralez Pharmaceuticals Inc. [ARLZ]CA4124.851,9961.0
Dycom Industries Inc. [DY]US2481.781,9881.0
Shutterfly Inc. [SFLY]US4444.641,9810.9
Echo Global Logistics Inc. [ECHO]US8623.061,9770.9
Coherent Inc. [COHR]US18110.541,9590.9
Quotient Technology Inc. [QUOT]US14213.311,8850.9
National CineMedia Inc. [NCMI]US12714.721,8630.9
Shutterstock Inc. [SSTK]US2963.701,8350.9
Rexnord Corp. [RXN]US8521.411,8190.9
Iridium Communications Inc. [IRDM]US2238.111,8090.9
AMC Entertainment Holdings Inc. [AMC]US5731.091,7580.8
Mercury Systems Inc. [MRCY]US7224.571,7580.8
Bofi Holding Inc. [BOFI]US7722.401,7350.8
NutriSystem Inc. [NTRI]US5829.691,7260.8
Ligand Pharmaceuticals Inc. [LGND]US17102.061,7220.8
Teladoc Inc. [TDOC]US9218.311,6860.8
Financial Engines Inc. [FNGN]US5629.711,6770.8
NN Inc. [NNBR]US9218.251,6750.8
Tuesday Morning Corp. [TUES]US2785.981,6650.8
Masonite International Corp. [DOOR]CA2762.171,6640.8
Ariad Pharmaceuticals Inc. [ARIA]US12013.691,6480.8
Circor International Inc. [CIR]US2759.561,6350.8
Dave & Buster's Entertainment Inc. [PLAY]US4139.181,6250.8
Zeltiq Aesthetics Inc. [ZLTQ]US4039.221,5870.8
Cryolife Inc. [CRY]US8517.571,5000.7
Spectranetics Corp. [SPNC]US5925.091,4710.7
KEYW Holding Corp. [KEYW]US12811.041,4110.7
Installed Building Products Inc. [IBP]US3935.871,4000.7
DigitalGlobe Inc. [DGI]US5127.501,3930.7
Fox Factory Holding Corp. [FOXF]US6022.971,3850.7
Habit Restaurants Inc. [HABT]US9514.001,3260.6
Shenandoah Telecommunications Co. [SHEN]US4727.211,2770.6
Pandora Media Inc. [P]US8814.331,2660.6
Synergy Resources Corp. [SYRG]US1816.931,2520.6
Callon Petroleum Co. [CPE]US7915.701,2350.6
BioSpecifics Technologies Corp. [BSTC]US2745.671,2150.6
On Deck Capital Inc. [ONDK]US2065.701,1740.6
Swift Transportation Corp. [SWFT]US5421.471,1680.6
Imperva Inc. [IMPV]US2153.711,1280.5
Chemical Financial Corp. [CHFC]US2644.131,1270.5
FB Financial Corp. [FBK]US5520.181,1050.5
Methode Electronics Inc. [MEI]US3134.971,0930.5
MTS Systems Corp. [MTSC]US2346.031,0750.5
SM Energy Co. [SM]US2738.581,0310.5
Belmond Ltd. [BEL]BM7912.719990.5
EVINE Live Inc. [EVLV]US3982.299120.4
Proofpoint Inc. [PFPT]US1174.858020.4
Global Eagle Entertainment Inc. [ENT]US938.317750.4
Power Solutions International Inc. [PSIX]US7210.257390.4
Atlas Air Worldwide Holdings Inc. [AAWW]US1342.825560.3
Surgical Care Affiliates Inc. [SCAI]US748.763430.2
Total204,35698.1
Cash and Other Assets Less Liabilities1.9
Total Net Assets100%

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

As of Quarter Ended 09/30/2016
Economic SectorHarbor Small Cap Growth Opportunities Fund %Russell 2000® Growth Index %
Information Technology29.425.5
Health Care24.623.4
Consumer Discretionary18.114.7
Industrials16.515.5
Financials6.15.0
Energy1.71.2
Telecommunication Services1.50.8
Utilities0.00.8
Real Estate0.05.2
Consumer Staples0.03.1
Materials0.04.9

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

As of Quarter Ended 09/30/2016
Sector ReturnsHarbor Small Cap Growth Opportunities Fund %Russell 2000® Growth Index %
Energy32.124.0
Health Care23.713.3
Information Technology16.015.4
Financials9.37.3
Consumer Discretionary4.42.2
Industrials3.37.0
Cash0.10.0
Consumer Staples0.0-0.4
Materials0.011.7
Real Estate0.00.6
Utilities0.0-5.2
Telecommunication Services-10.5-10.8

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 Russell 2000® Growth Index is an unmanaged index representing the smallest 2000 stocks with the highest price-to-book ratio and future earnings. This unmanaged index does not reflect fees and expenses and is not available for direct investment. The Russell 2000® Growth Index and Russell® are trademarks of Russell Investments.