Harbor International Growth Fund Investor Class (HIIGX)

Portfolio Characteristics (As of Quarter Ended 06/30/2014)

 Harbor International Growth FundMSCI All Country World Ex. US (ND) Index
Number of Holdings801,829
Weighted Avg. Market Cap ($Mil)44,745.7761,305.13
Median Market Cap ($Mil)13,370.337,593.55
Price/Book Ratio2.371.67
Adj. Trailing P/E Ratio17.8015.66
Forecasted P/E Ratio17.3513.34
Earnings Growth Rate (%)13.298.92
Proj. Earnings Growth Rate (%)13.9410.80
Return on Equity (%)14.9612.66
Turnover (unannualized % since 10/31)10-
Beta vs. MSCI EAFE (ND) Index0.97-
Beta vs. MSCI All Country World Ex. US (ND) Index 0.97-

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

Top Ten Holdings (As of Quarter Ended 06/30/2014)

Company Name [Ticker]% of Net Assets
Investment AB Kinnevik [KINV B_SEK]2.8
Roche Holding AG [ROG]2.5
BG Group plc [BG/]2.2
Hargreaves Lansdown plc [HL/]2.0
Novo Nordisk AS [NOVOB]2.0
Svenska Handelsbanken AB [SHB A_SEK]2.0
Carlsberg AS [CARL B]1.8
Shimano Inc. [7309]1.7
Unilever plc [ULVR]1.6
Standard Chartered plc [STAN]1.6
% of Total Holdings:20.2

Full Holdings (As of Quarter Ended 06/30/2014)

Company Name [Ticker]CountrySEDOLShares (000's)Current Price ($)Market Value ($000's)% of Net Assets
Investment AB Kinnevik [KINV B_SEK]SEB00GC1217142.617,2862.8
Roche Holding AG [ROG]CH711038822297.966,6662.5
BG Group plc [BG/]GB087628927721.105,8352.2
Hargreaves Lansdown plc [HL/]GBB1VZ0M224621.175,1982.0
Novo Nordisk AS [NOVOB]DKBHC8X9011246.155,1562.0
Svenska Handelsbanken AB [SHB A_SEK]SE570366110548.905,1552.0
Carlsberg AS [CARL B]DK416921944107.704,7911.8
Shimano Inc. [7309]JP680482040110.974,3941.7
Unilever plc [ULVR]GBB10RZP79545.334,3071.6
Standard Chartered plc [STAN]GB040828420920.444,2811.6
Naspers Ltd. [NPN]ZA662269136117.744,2131.6
Atlas Copco AB [ATCO B_SEK]SEB1QGR7415726.694,1991.6
Distribuidora Internacional de Alimentacion SA [DIA]ESB55ZR924509.204,1461.6
Baidu Inc ADR [BIDU]CNB0FXT1722186.814,1291.6
Cochlear Ltd. [COH]AU62117986958.224,0311.5
MS&AD Insurance Group Holdings [8725]JPB2Q4CS116424.173,9661.5
KAO Corp. [4452]JP648380910139.383,9621.5
Taiwan Semiconductor Manufacturing Co. Ltd. ADR [TSM]TW211338218121.393,8741.5
Samsung Electronics Co. Ltd. [A005930]KR677172031305.953,8681.5
Nestle SA [NESN]CH71238705077.493,8401.5
United Overseas Bank Ltd. [U11]SG691678121118.083,8201.4
Johnson Matthey plc [JMAT]GBB70FPS67153.033,7481.4
Samsung Fire & Marine Insurance Co. Ltd. [A000810]KR615525014254.523,6531.4
Rakuten Inc. [4755]JP622959727112.933,5051.3
Inditex SA [ITX]ES711131420153.903,1151.2
Seek Ltd. [SEK]AUB0767Y320314.953,0311.1
THK Co. Ltd. [6481]JP686913112823.583,0111.1
Geberit AG [GEBN]CHB1WGG939350.793,0091.1
Coca-Cola Enterprises Inc. [CCE]USB42BPG96347.782,9921.1
Hon Hai Precision Industry Co. Ltd. GDR [HHPD]TW57582184416.652,9311.1
Asahi Group Holdings Ltd. [2502]JP60544099131.402,8611.1
Olympus Corp. [7733]JP66588018334.412,8561.1
Mahindra & Mahindra Ltd. GDR [MHID]INB163GT014719.252,8221.1
Investor AB [INVE B_SEK]SE56795917537.472,8211.1
Exor SpA [EXO]ITB06HZC16741.022,7541.0
Turkiye Garanti Bankasi As ADR [TGBD]TR25998187943.432,7271.0
Rightmove plc [RMV]GBB2987V87436.662,7221.0
CNH Industrial NV [CNHI]ITBDSV2V026310.262,7001.0
Asos plc [ASC]GB30927255250.642,6581.0
Jardine Matheson Holdings Ltd. [J36]SG64721194459.352,6111.0
Kone OYJ [KNEBV]FIB09M9D26041.702,4870.9
Intertek Group plc [ITRK]GB31638365247.022,4570.9
Mettler-Toledo International Inc. [MTD]CH212624910253.182,4380.9
Tsingtao Brewery Co. Ltd. [168]CN69058083087.832,4110.9
John Wood Group plc [WG]GBB5N0P8417313.792,3870.9
BHP Billiton plc [BLT]GB00566507232.512,3270.9
Schindler Holding AG [SCHP]CHB11TCY015151.902,2670.9
Cafe de Coral Holdings Ltd. [341]HK61609536603.382,2310.8
Trade Me Group Ltd. [TME]NZB76CYL77043.052,1440.8
Weir Group plc [WEIR]GB09465804844.812,1410.8
Total SA [FP]FRB15C5572972.352,1210.8
Corp. Financiera Alba SA [ALB]ES57304093265.092,1130.8
Mitchells & Butlers plc [MAB]GBB1FP6H53166.672,1070.8
Brambles Ltd. [BXB]AUB1FJ0C02408.662,0810.8
Aristocrat Leisure Ltd. [ALL]AU62539834154.962,0570.8
SMC Corp. [6273]JP67639657267.961,9560.7
Novozymes AS [NZYM B]DKB798FW03850.161,9310.7
Imperial Tobacco Group plc [IMT]GB04544924144.991,8440.7
Jardine Strategic Holdings Ltd. [J37]SG64729605035.751,8050.7
Legrand SA [LR]FRB11ZRK92961.241,7990.7
Woolworths Ltd. [WOW]AU69812395433.211,7970.7
Itau Unibanco Holding SA ADR [ITUB]BR284973911814.381,7020.6
Li & Fung Ltd. [494]HK62862571,1061.481,6410.6
Treasury Wine Estates Ltd. [TWE]AUB61JC673424.721,6170.6
Wal-Mart de Mexico SAB de CV [WALMEXV]MXB02YZ045962.681,5980.6
Adidas AG [ADS]DE403197616101.121,5910.6
Clicks Group Ltd. [CLS]ZA61055782665.971,5890.6
Imagination Technologies Group plc [IMG]GB09303124273.601,5380.6
Mindray Medical International Ltd. ADR [MR]CNB1FCP244631.501,4360.5
UBS AG [UBSN]CHB18YFJ47818.331,4310.5
Kazakhmys plc [KAZ]GBB0HZPV32605.201,3510.5
Puregold Price Club Inc. [PGOLD]PHB725S291,2910.991,2830.5
Sankyo Co. Ltd. [6417]JP67754323138.471,2080.5
BOC Hong Kong Holdings Ltd. [2388]HK65361124122.901,1920.5
Mesoblast Ltd. [MSB]AUB04SF482224.219330.4
Protalix Bio Therapeutics Inc. [PLX]ILB1LJRM32053.657500.3
Sugi Holdings Co. Ltd. [7649]JP62590111045.634520.2
bioMerieux [BIM]FRB01MJR44107.784010.2
Mahindra & Mahindra Ltd. [M&M]IN61001861319.122430.1
Total220,50183.5
Cash and Other Assets Less Liabilities16.5
Total Net Assets100%

Sector Allocation (As of Quarter Ended 06/30/2014)

As of Quarter Ended 06/30/2014
Economic SectorHarbor International Growth Fund %MSCI All Country World Ex. US (ND) Index %
Financials18.226.5
Consumer Staples15.09.9
Consumer Discretionary13.910.8
Industrials13.511.0
Health Care9.48.2
Information Technology6.26.9
Energy3.99.6
Materials3.58.5
Telecommunication Services0.05.2
Utilities0.03.6

Sector Returns (As of Quarter Ended 06/30/2014)

As of Quarter Ended 06/30/2014
Sector ReturnsHarbor International Growth Fund %MSCI All Country World Ex. US (ND) Index %
Energy12.411.6
Information Technology7.56.4
Consumer Staples7.15.9
Financials4.73.9
Materials3.84.2
Health Care1.55.5
Cash1.10.0
Telecommunication Services0.04.3
Utilities0.07.7
Industrials-0.33.4
Consumer Discretionary-4.23.8

Country Allocation (As of Quarter Ended 06/30/2014)

As of Quarter Ended 06/30/2014
CountryHarbor International Growth Fund %MSCI All Country World Ex. US (ND) Index %
United Kingdom17.015.8
Japan10.714.4
Switzerland7.56.3
Sweden7.42.1
Australia5.94.9
Denmark4.51.1
Spain3.62.6
Singapore3.11.0
China3.02.7
South Korea2.93.3
Other34.445.8

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 MSCI All Country World Ex. US (ND) Index is a free float-adjusted market capitalization weighted index that is designed to measure equity market performance in the global developed and emerging markets, excluding the United States. This unmanaged index does not reflect fees and expenses and is not available for direct investment.

The MSCI EAFE Growth (ND) Index is an unmanaged index generally representative of the growth stocks within the major overseas stock markets. This unmanaged index does not reflect fees and expenses and is not available for direct investment.

As a result of the appointment of a new subadviser, the International Growth Fund changed its benchmark index from the MSCI EAFE Growth (ND) Index to the MSCI All Country World Ex. US (ND) Index. The MSCI All Country World Ex. US (ND) Index better reflects the new subadviser's investment strategy.