Harbor Small Cap Value Fund Investor Class (HISVX)

Portfolio Characteristics (As of Quarter Ended 06/30/2015)

 Harbor Small Cap Value FundRussell 2000® Value Index
Number of Holdings591,319
Weighted Avg. Market Cap ($Mil)3,638.151,701.14
Median Market Cap ($Mil)2,043.23706.90
Price/Book Ratio2.081.43
Adj. Trailing P/E Ratio19.1427.46
Forecasted P/E Ratio16.6116.35
Earnings Growth Rate (%)15.819.32
Proj. Earnings Growth Rate (%)11.7910.78
Return on Equity (%)13.1910.28
Turnover (unannualized % since 10/31)8-
Beta vs. Russell 2000® Value Index0.92-
Beta vs. Russell 3000® Index1.20-

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

Top Ten Holdings (As of Quarter Ended 06/30/2015)

Company Name [Ticker]% of Net Assets
Hexcel Corp. [HXL]3.7
Snap-on Inc. [SNA]3.1
Cantel Medical Corp. [CMN]2.8
EnerSys [ENS]2.8
Molina Healthcare Inc. [MOH]2.7
Mednax Inc. [MD]2.7
Centene Corp. [CNC]2.7
Valspar Corp. [VAL]2.6
Global Payments Inc. [GPN]2.5
Entegris Inc. [ENTG]2.4
% of Total Holdings:28.0

Full Holdings (As of Quarter Ended 06/30/2015)

Company Name [Ticker]CountryCUSIPShares (000's)Current Price ($)Market Value ($000's)% of Net Assets
Hexcel Corp. [HXL]US42829110863549.7431,5803.7
Snap-on Inc. [SNA]US833034101168159.2526,6973.1
Cantel Medical Corp. [CMN]US13809810845353.6724,3022.8
EnerSys [ENS]US29275Y10234270.2924,0122.8
Molina Healthcare Inc. [MOH]US60855R10033470.3023,4582.7
Mednax Inc. [MD]US58502B10631674.1123,4282.7
Centene Corp. [CNC]US15135B10128680.4022,9952.7
Valspar Corp. [VAL]US92035510427881.8222,7492.6
Global Payments Inc. [GPN]US37940X102212103.4521,9512.5
Entegris Inc. [ENTG]US29362U1041,42914.5720,8242.4
Reinsurance Group of America Inc. [RGA]US75935160420394.8719,2192.2
Raymond James Financial Inc. [RJF]US75473010931859.5818,9662.2
Franklin Electric Co. Inc. [FELE]US35351410256832.3318,3522.1
OSI Systems Inc. [OSIS]US67104410524870.7917,5502.0
Bristow Group Inc. [BRS]US11039410332853.3017,5072.0
Core Laboratories NV [CLB]USN22717107151114.0417,2182.0
Teledyne Technologies Inc. [TDY]US879360105163105.5117,1992.0
Monolithic Power Systems Inc. [MPWR]US60983910533850.7117,1382.0
Stifel Financial Corp. [SF]US86063010229557.7417,0282.0
GATX Corp. [GMT]US36144810331953.1516,9712.0
WGL Holdings Inc. [WGL]US92924F10630954.2916,7981.9
American Equity Investment Life Holding Co. [AEL]US02567620659626.9816,0771.9
Cabot Microelectronics Corp. [CCMP]US12709P10333147.1115,5921.8
Littelfuse Inc. [LFUS]US53700810416294.8915,4081.8
Moog Inc. [MOG/A]US61539420221570.6815,1911.8
SBA Communications Corp. [SBAC]US78388J106131114.9715,0951.7
FLIR Systems Inc. [FLIR]US30244510147730.8214,6981.7
Mueller Water Products Inc. [MWA]US6247581081,5959.1014,5131.7
Meritage Homes Corp. [MTH]US59001A10230547.0914,3691.7
Scotts Miracle-Gro Co. [SMG]US81018610624259.2114,3151.7
Timken Co. [TKR]US88738910438236.5713,9561.6
Fairchild Semiconductor International Inc. [FCS]US30372610379617.3813,8381.6
Coherent Inc. [COHR]US19247910320863.4813,2351.5
Medical Properties Trust Inc. [MPW]US58463J30499113.1112,9951.5
Horace Mann Educators Corp. [HMN]US44032710433436.3812,1391.4
United Fire Group Inc. [UFCS]US91034010837032.7612,1181.4
Eaton Vance Corp. [EV]US27826510330139.1311,7741.4
United Bankshares Inc. [UBSI]US90990710729240.2311,7351.4
South Jersey Industries Inc. [SJI]US83851810846624.7311,5191.3
Trustmark Corp. [TRMK]US89840210243024.9810,7371.2
Cash America International Inc. [CSH]US14754D10039526.1910,3351.2
Sanmina Corp. [SANM]US80105610249420.169,9531.2
Albany International Corp. [AIN]US01234810824639.809,7921.1
United Natural Foods Inc. [UNFI]US91116310315263.689,6541.1
Altra Industrial Motion Corp. [AIMC]US02208R10635227.189,5731.1
First Potomac Realty Trust [FPO]US33610F10981510.308,3901.0
Itron Inc. [ITRI]US46574110624134.448,2901.0
Cabot Corp. [CBT]US12705510120037.297,4430.9
Newpark Resources Inc. [NR]US6517185049038.137,3420.9
ManTech International Corp. [MANT]US56456310424729.007,1770.8
Tal International Group Inc. [TAL]US87408310822531.607,0960.8
Astoria Financial Corp. [AF]US04626510450413.796,9540.8
Cai International Inc. [CAP]US12477X10632420.596,6620.8
Epiq Systems Inc. [EPIQ]US26882D10937316.886,2980.7
Checkpoint Systems Inc. [CKP]US16282510352810.185,3740.6
State Auto Financial Corp. [STFC]US85570710519423.954,6390.5
Oneok Inc. [OKE]US68268010310939.484,3100.5
Enova International Inc. [ENVA]US29357K10321318.683,9730.5
Timkensteel Corp. [TMST]US88739910313926.993,7480.4
Total832,24996.4
Cash and Other Assets Less Liabilities3.6
Total Net Assets100%

Sector Allocation (As of Quarter Ended 06/30/2015)

As of Quarter Ended 06/30/2015
Economic SectorHarbor Small Cap Value Fund %Russell 2000® Value Index %
Industrials24.512.2
Information Technology21.710.2
Financials20.542.3
Health Care10.94.1
Materials5.64.2
Energy5.45.3
Utilities3.36.4
Telecommunication Services1.70.9
Consumer Discretionary1.711.5
Consumer Staples1.12.9

Sector Returns (As of Quarter Ended 06/30/2015)

As of Quarter Ended 06/30/2015
Sector ReturnsHarbor Small Cap Value Fund %Russell 2000® Value Index %
Health Care8.14.2
Consumer Discretionary5.1-1.9
Consumer Staples0.1-0.2
Cash0.00.0
Financials-1.10.0
Energy-1.1-3.1
Information Technology-1.5-0.8
Telecommunication Services-1.8-4.9
Industrials-2.9-1.7
Utilities-5.1-7.3
Materials-7.0-5.8

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® Value Index is an unmanaged index representing the smallest 2000 stocks with the lowest 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® Value Index and Russell® are trademarks of Russell Investments.