Harbor Large Cap Value Fund Investor Class (HILVX)

Portfolio Characteristics (As of Quarter Ended 09/30/2014)

 Harbor Large Cap Value FundRussell 1000® Value Index
Number of Holdings39690
Weighted Avg. Market Cap ($Mil)72,485.00111,505.38
Median Market Cap ($Mil)50,911.726,873.07
Price/Book Ratio2.441.78
Adj. Trailing P/E Ratio18.2615.60
Forecasted P/E Ratio15.2814.21
Earnings Growth Rate (%)12.977.43
Proj. Earnings Growth Rate (%)11.179.02
Return on Equity (%)12.3511.08
Turnover (unannualized % since 10/31)26-
Beta vs. Russell 1000® Value Index0.99-
Beta vs. Russell 3000® Index0.99-

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

Top Ten Holdings (As of Quarter Ended 09/30/2014)

Company Name [Ticker]% of Net Assets
Time Warner Inc. [TWX]3.3
Home Depot Inc. [HD]3.0
Halliburton Co. [HAL]3.0
Phillips 66 [PSX]3.0
eBay Inc. [EBAY]2.9
Medtronic Inc. [MDT]2.8
Bank of America Corp. [BAC]2.8
TE Connectivity Ltd. [TEL]2.8
Ecolab Inc. [ECL]2.8
Lennar Corp. [LEN]2.7
% of Total Holdings:29.1

Full Holdings (As of Quarter Ended 09/30/2014)

Company Name [Ticker]CountryCUSIPShares (000's)Current Price ($)Market Value ($000's)% of Net Assets
Time Warner Inc. [TWX]US88731730310375.217,7473.3
Home Depot Inc. [HD]US4370761027891.747,1373.0
Halliburton Co. [HAL]US40621610110964.517,0063.0
Phillips 66 [PSX]US7185461048681.316,9683.0
eBay Inc. [EBAY]US27864210311956.636,7502.9
Medtronic Inc. [MDT]US58505510610761.956,6042.8
Bank of America Corp. [BAC]US06050510438717.056,6002.8
TE Connectivity Ltd. [TEL]CHH8498910411955.296,5742.8
Ecolab Inc. [ECL]US27886510056114.836,4882.8
Lennar Corp. [LEN]US52605710416638.836,4652.7
AbbVie Inc. [ABBV]US00287Y10911257.766,4632.7
Microsoft Corp. [MSFT]US59491810413946.366,4532.7
JP Morgan Chase & Co. [JPM]US46625H10010660.246,3912.7
Banco Santander SA ADR [SAN-W]ES05964H1056659.506,3182.7
Adobe Systems Inc. [ADBE]US00724F1018969.196,1722.6
Dow Chemical Co. [DOW]US26054310311652.446,0942.6
Walgreen Co. [WAG]US93142210910259.276,0752.6
General Dynamics Corp. [GD]US36955010848127.096,0752.6
EMC Corp. [EMC]US26864810220529.266,0072.6
Unilever NV [UN]NL90478470915139.686,0002.5
ITC Holdings Corp. [ITC]US46568510516735.635,9572.5
Hospira Inc. [HSP]US44106010010952.035,6712.4
Pioneer Natural Resources Co. [PXD]US72378710729196.975,6332.4
General Electric Co. [GE]US36960410321825.625,5832.4
Martin Marietta Materials Inc. [MLM]US57328410643128.945,5572.4
Diageo plc ADR [DEO]GB25243Q20548115.405,5512.4
Texas Instruments Inc. [TXN]US88250810411547.695,4652.3
Mondelez International Inc. [MDLZ]US60920710515934.275,4522.3
Illinois Tool Works Inc. [ITW]US4523081096384.425,3272.3
Oracle Corp. [ORCL]US68389X10513638.285,2102.2
First Republic Bank [FRC]US33616C10010349.385,0862.2
M&T Bank Corp. [MTB]US55261F10441123.295,0432.1
General Mills Inc. [GIS]US3703341049450.454,7682.0
Oshkosh Corp. [OSK]US68823920110344.154,5651.9
Mitsubishi UFJ Financial Group Inc. ADR [MTU]JP6068221048095.614,5381.9
AES Corp. [AES]US00130H10530814.184,3731.9
Deere & Co. [DE]US2441991055281.994,2961.8
Hershey Co. [HSY]US4278661084595.434,2751.8
Coty Inc. [COTY]US22207020325216.554,1791.8
Total226,91696.4
Cash and Other Assets Less Liabilities3.6
Total Net Assets100%

Sector Allocation (As of Quarter Ended 09/30/2014)

As of Quarter Ended 09/30/2014
Economic SectorHarbor Large Cap Value Fund %Russell 1000® Value Index %
Information Technology18.19.4
Consumer Staples15.47.1
Financials14.429.2
Industrials11.010.1
Consumer Discretionary9.16.3
Energy8.312.8
Health Care8.013.5
Materials7.73.4
Utilities4.46.0
Telecommunication Services0.02.3

Sector Returns (As of Quarter Ended 09/30/2014)

As of Quarter Ended 09/30/2014
Sector ReturnsHarbor Large Cap Value Fund %Russell 1000® Value Index %
Consumer Discretionary4.5-1.4
Information Technology2.15.2
Materials1.7-1.8
Health Care0.22.5
Cash0.00.0
Telecommunication Services0.01.0
Financials-1.52.0
Industrials-4.7-2.7
Utilities-5.1-4.4
Energy-6.7-7.8
Consumer Staples-8.22.9

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 1000® Value Index is an unmanaged index generally representative of the U.S. market for larger capitalization value stocks. This unmanaged index does not reflect fees and expenses and is not available for direct investment. The Russell 1000® Value Index and Russell® are trademarks of Russell Investments.