Harbor Small Cap Growth Opportunities Fund Administrative Class (HRSOX)

Portfolio Characteristics (As of Quarter Ended 12/31/2016)

 Harbor Small Cap Growth Opportunities FundRussell 2000® Growth Index
Number of Holdings951,177
Weighted Avg. Market Cap ($Mil)1,534.732,166.82
Median Market Cap ($Mil)1,260.81878.92
Price/Book Ratio3.154.09
Adj. Trailing P/E Ratio17.9223.56
Forecasted P/E Ratio21.6020.52
Earnings Growth Rate (%)15.1213.11
Proj. Earnings Growth Rate (%)18.8013.84
Return on Equity (%)7.1311.14
Turnover (unannualized % since 10/31)13-
Beta vs. Russell 2000® Growth Index0.97-
Beta vs. Russell 3000® Index1.17-

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

Top Ten Holdings (As of Quarter Ended 12/31/2016)

Company Name [Ticker]% of Net Assets
Synchronoss Technologies Inc. [SNCR]3.8
Maxlinear Inc. [MXL]3.4
Interxion Holding NV [INXN]2.2
Logmein Inc. [LOGM]2.1
ICU Medical Inc. [ICUI]2.0
WNS Holdings Ltd. ADR [WNS]2.0
Blackhawk Network Holdings Inc. [HAWK]1.9
Bankrate Inc. [RATE]1.6
Dycom Industries Inc. [DY]1.6
National General Holdings Corp. [NGHC]1.5
% of Total Holdings:22.1

Full Holdings (As of Quarter Ended 12/31/2016)

Company Name [Ticker]CountryShares (000's)Current Price ($)Market Value ($000's)% of Net Assets
Synchronoss Technologies Inc. [SNCR]US20838.307,9753.8
Maxlinear Inc. [MXL]US32321.807,0343.4
Interxion Holding NV [INXN]NL13135.074,5902.2
Logmein Inc. [LOGM]US4596.554,3452.1
ICU Medical Inc. [ICUI]US29147.354,2562.0
WNS Holdings Ltd. ADR [WNS]IN15227.554,1962.0
Blackhawk Network Holdings Inc. [HAWK]US10437.683,9261.9
Bankrate Inc. [RATE]US30711.053,3921.6
Dycom Industries Inc. [DY]US4280.293,3881.6
National General Holdings Corp. [NGHC]US12724.993,1821.5
Innerworkings Inc. [INWK]US3219.853,1611.5
Korn/Ferry International [KFY]US10329.433,0271.4
Clubcorp Holdings Inc. [MYCC]US20514.352,9391.4
Callidus Software Inc. [CALD]US17116.802,8711.4
Medicines Co. [MDCO]US8333.942,8181.3
On Assignment Inc. [ASGN]US6444.162,8051.3
Chegg Inc. [CHGG]US3787.382,7871.3
Churchill Downs Inc. [CHDN]US18150.452,7661.3
Evolent Health Inc. [EVH]US18414.802,7251.3
Penn National Gaming Inc. [PENN]US19613.792,7021.3
Cerus Corp. [CERS]US6174.352,6851.3
Wageworks Inc. [WAGE]US3772.502,6501.3
Wright Medical Group NV [WMGI]NL11222.982,5711.2
Exact Sciences Corp. [EXAS]US19013.362,5341.2
Novadaq Technologies Inc. [NVDQ]CA3477.092,4581.2
AMC Entertainment Holdings Inc. [AMC]US7233.652,4221.2
Vasco Data Security International Inc. [VDSI]US17313.652,3631.1
Teligent Inc. [TLGT]US3506.612,3121.1
Vocera Communications Inc. [VCRA]US12518.492,3091.1
Endologix Inc. [ELGX]US3995.722,2801.1
LendingTree Inc. [TREE]US22101.352,2411.1
Barnes Group Inc. [B]US4747.422,2081.1
Planet Fitness Inc. [PLNT]US10920.102,1911.0
Gogo Inc. [GOGO]US2379.222,1861.0
Beacon Roofing Supply Inc. [BECN]US4746.072,1831.0
Masonite International Corp. [DOOR]CA3365.802,1611.0
Nuvasive Inc. [NUVA]US3267.362,1591.0
Century Communities Inc. [CCS]US10121.002,1291.0
Merit Medical Systems Inc. [MMSI]US7926.502,1071.0
Quotient Technology Inc. [QUOT]US19010.752,0471.0
Rexnord Corp. [RXN]US10419.592,0341.0
Coherent Inc. [COHR]US15137.392,0141.0
Echo Global Logistics Inc. [ECHO]US7925.051,9891.0
Pacira Pharmaceuticals Inc. [PCRX]US6132.301,9600.9
Infinera Corp. [INFN]US2318.491,9580.9
NN Inc. [NNBR]US9919.051,8800.9
Aralez Pharmaceuticals Inc. [ARLZ]CA4254.411,8740.9
Bofi Holding Inc. [BOFI]US6528.551,8540.9
Circor International Inc. [CIR]US2964.881,8530.9
BroadSoft Inc. [BSFT]US4441.251,8180.9
Shutterstock Inc. [SSTK]US3847.521,8130.9
Angie's List Inc. [ANGI]US2208.231,8110.9
NutriSystem Inc. [NTRI]US5134.651,7830.9
Habit Restaurants Inc. [HABT]US10017.251,7310.8
Shutterfly Inc. [SFLY]US3450.181,7250.8
DigitalGlobe Inc. [DGI]US6028.651,7160.8
Fox Factory Holding Corp. [FOXF]US6027.751,6540.8
Financial Engines Inc. [FNGN]US4536.751,6420.8
SM Energy Co. [SM]US4734.481,6130.8
Swift Transportation Corp. [SWFT]US6624.361,6130.8
Iridium Communications Inc. [IRDM]US1669.601,5910.8
Synergy Resources Corp. [SYRG]US1798.911,5910.8
Teladoc Inc. [TDOC]US9616.501,5890.8
Ligand Pharmaceuticals Inc. [LGND]US16101.611,5880.8
BioSpecifics Technologies Corp. [BSTC]US2855.701,5830.8
Shenandoah Telecommunications Co. [SHEN]US5527.301,5050.7
Installed Building Products Inc. [IBP]US3641.301,4910.7
KEYW Holding Corp. [KEYW]US12611.791,4900.7
Aquaventure Holdings Ltd. [WAAS]VI6024.531,4710.7
Methode Electronics Inc. [MEI]US3541.351,4470.7
Dave & Buster's Entertainment Inc. [PLAY]US2556.301,4300.7
MTS Systems Corp. [MTSC]US2556.701,4270.7
FB Financial Corp. [FBK]US5425.951,4050.7
Callon Petroleum Co. [CPE]US9115.371,3960.7
Surgical Care Affiliates Inc. [SCAI]US3046.271,3740.7
Chemical Financial Corp. [CHFC]US2554.171,3670.7
Electronics For Imaging Inc. [EFII]US3143.861,3450.6
Kate Spade & Co. [KATE]US7118.671,3350.6
Party City Holdco Inc. [PRTY]US9014.201,2710.6
Sarepta Therapeutics Inc. [SRPT]US4427.431,2030.6
On Deck Capital Inc. [ONDK]US2594.631,2010.6
Atlas Air Worldwide Holdings Inc. [AAWW]US2352.151,1810.6
Kinsale Capital Group Inc. [KNSL]US3434.011,1670.6
Cryolife Inc. [CRY]US5719.151,0890.5
Luminex Corp. [LMNX]US5420.231,0870.5
Imperva Inc. [IMPV]US2838.401,0780.5
Belmond Ltd. [BEL]BM7813.351,0370.5
Wingstop Inc. [WING]US3429.591,0130.5
Hudson Technologies Inc. [HDSN]US1258.011,0040.5
Ariad Pharmaceuticals Inc. [ARIA]US7412.449250.4
Caesarstone Ltd. [CSTE]IL3228.659190.4
National CineMedia Inc. [NCMI]US4714.736980.3
Irhythm Technologies Inc. [IRTC]US2230.006490.3
EVINE Live Inc. [EVLV]US3941.505900.3
Power Solutions International Inc. [PSIX]US717.505340.3
Total200,48796.1
Cash and Other Assets Less Liabilities3.9
Total Net Assets100%

Sector Allocation (As of Quarter Ended 12/31/2016)

As of Quarter Ended 12/31/2016
Economic SectorHarbor Small Cap Growth Opportunities Fund %Russell 2000® Growth Index %
Information Technology28.524.4
Health Care22.020.9
Industrials18.116.8
Consumer Discretionary16.115.4
Financials6.75.8
Energy2.21.4
Telecommunication Services1.50.8
Utilities0.70.8
Materials0.05.2
Consumer Staples0.03.1
Real Estate0.05.3

Sector Returns (As of Quarter Ended 12/31/2016)

As of Quarter Ended 12/31/2016
Sector ReturnsHarbor Small Cap Growth Opportunities Fund %Russell 2000® Growth Index %
Financials15.318.7
Utilities11.89.0
Telecommunication Services11.612.4
Industrials11.211.2
Energy6.86.6
Consumer Discretionary2.07.7
Information Technology0.51.7
Cash0.10.0
Materials0.08.0
Real Estate0.03.0
Consumer Staples0.03.4
Health Care-13.8-6.9

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 Frank Russell Company.