Harbor Large Cap Value Fund Investor Class (HILVX)

Portfolio Characteristics (As of Quarter Ended 03/31/2014)

 Harbor Large Cap Value FundRussell 1000® Value Index
Number of Holdings42664
Weighted Avg. Market Cap ($Mil)69,955.20112,037.21
Median Market Cap ($Mil)39,224.686,647.97
Price/Book Ratio2.341.78
Adj. Trailing P/E Ratio17.4515.78
Forecasted P/E Ratio15.3114.28
Earnings Growth Rate (%)12.957.76
Proj. Earnings Growth Rate (%)10.899.59
Return on Equity (%)12.1111.05
Beta vs. Russell 1000® Value Index0.97-
Beta vs. Russell 3000® Index0.98-

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

Top Ten Holdings (As of Quarter Ended 03/31/2014)

Company Name [Ticker]% of Net Assets
Phillips 66 [PSX]3.2
TE Connectivity Ltd. [TEL]3.0
Bank of America Corp. [BAC]2.9
Lennar Corp. [LEN]2.9
Walgreen Co. [WAG]2.8
Halliburton Co. [HAL]2.8
eBay Inc. [EBAY]2.8
JP Morgan Chase & Co. [JPM]2.7
Home Depot Inc. [HD]2.7
Adobe Systems Inc. [ADBE]2.7
% of Total Holdings:28.5

Full Holdings (As of Quarter Ended 03/31/2014)

Company Name [Ticker]CountryCUSIPShares (000's)Current Price ($)Market Value ($000's)% of Net Assets
Phillips 66 [PSX]US7185461049777.067,4903.2
TE Connectivity Ltd. [TEL]CHH8498910411660.216,9603.0
Bank of America Corp. [BAC]US06050510439617.206,8112.9
Lennar Corp. [LEN]US52605710416839.626,6562.9
Walgreen Co. [WAG]US93142210910066.036,6032.8
Halliburton Co. [HAL]US40621610111158.896,5432.8
eBay Inc. [EBAY]US27864210311855.246,5182.8
JP Morgan Chase & Co. [JPM]US46625H10010560.716,3752.7
Home Depot Inc. [HD]US4370761027979.136,2512.7
Adobe Systems Inc. [ADBE]US00724F1019565.746,2452.7
Time Warner Inc. [TWX]US8873173039565.336,1932.7
Banco Santander SA ADR [SAN]ES05964H1056359.586,0822.6
Unilever NV [UN]NL90478470914541.125,9622.6
Dow Chemical Co. [DOW]US26054310312348.595,9572.6
Ecolab Inc. [ECL]US27886510055107.995,9292.5
Microsoft Corp. [MSFT]US59491810413940.995,6982.5
Diageo plc ADR [DEO]GB25243Q20545124.595,6562.4
Suntrust Bank Inc. [STI]US86791410314239.795,6542.4
AbbVie Inc. [ABBV]US00287Y10910951.405,6032.4
Texas Instruments Inc. [TXN]US88250810411447.155,3942.3
Oshkosh Corp. [OSK]US6882392019158.875,3572.3
Oracle Corp. [ORCL]US68389X10513040.915,3182.3
EMC Corp. [EMC]US26864810219327.415,2932.3
Covidien plc [COV]USG2554F1137173.665,2302.2
General Dynamics Corp. [GD]US36955010848108.925,2282.2
Baxter International Inc. [BAX]US0718131097173.585,2172.2
Medtronic Inc. [MDT]US5850551068361.545,1202.2
General Electric Co. [GE]US36960410319725.895,0952.2
First Republic Bank [FRC]US33616C1009453.995,0592.2
M&T Bank Corp. [MTB]US55261F10440121.304,8402.1
Deere & Co. [DE]US2441991055290.804,7672.1
Mitsubishi UFJ Financial Group Inc. ADR [MTU]JP6068221048505.544,7092.0
Pioneer Natural Resources Co. [PXD]US72378710725187.144,6412.0
AES Corp. [AES]US00130H10532514.284,6412.0
General Mills Inc. [GIS]US3703341048851.824,5812.0
Hess Corp. [HES]US42809H1075382.884,4091.9
Hershey Co. [HSY]US42786610841104.404,3011.8
Coty Inc. [COTY]US22207020325014.983,7451.6
Martin Marietta Materials Inc. [MLM]US57328410628128.353,6241.6
Progressive Corp. [PGR]US74331510310424.222,5191.1
Illinois Tool Works Inc. [ITW]US4523081091381.331,0870.5
SPX Corp. [SPW]US784635104698.315680.2
Total219,92994.5
Cash and Other Assets Less Liabilities5.5
Total Net Assets100%

Sector Allocation (As of Quarter Ended 03/31/2014)

As of Quarter Ended 03/31/2014
Economic SectorHarbor Large Cap Value Fund %Russell 1000® Value Index %
Financials18.129.1
Information Technology17.89.0
Consumer Staples13.35.8
Energy9.914.5
Industrials9.510.0
Health Care9.113.5
Consumer Discretionary8.26.5
Materials6.73.0
Utilities2.06.1
Telecommunication Services0.02.5

Sector Returns (As of Quarter Ended 03/31/2014)

As of Quarter Ended 03/31/2014
Sector ReturnsHarbor Large Cap Value Fund %Russell 1000® Value Index %
Materials8.23.3
Information Technology7.53.6
Industrials5.9-0.0
Health Care4.88.2
Energy4.7-0.2
Consumer Staples4.11.8
Financials2.93.6
Cash0.00.0
Telecommunication Services0.01.5
Utilities-1.29.6
Consumer Discretionary-3.0-2.1

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.