Harbor Mid Cap Value Fund Investor Class (HIMVX)

Portfolio Characteristics (As of Quarter Ended 06/30/2017)

Harbor Mid Cap Value FundRussell Midcap® Value Index
Number of Holdings195590
Weighted Avg. Market Cap ($Mil)11,244.4213,416.34
Median Market Cap ($Mil)4,583.316,980.83
Price/Book Ratio1.782.12
Adj. Trailing P/E Ratio14.8318.45
Forecasted P/E Ratio13.0117.38
Earnings Growth Rate (%)10.929.57
Proj. Earnings Growth Rate (%)7.949.00
Return on Equity (%)11.489.80
Turnover (unannualized % since 10/31)17-
Beta vs. Fund Benchmark1.08-

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

Top Ten Holdings (As of Quarter Ended 06/30/2017)

Company Name [Ticker]% of Net Assets
Public Service Enterprise Group Inc. [PEG]1.7
Ameriprise Financial Inc. [AMP]1.5
Regions Financial Corp. [RF]1.4
SunTrust Banks Inc. [STI]1.3
LAM Research Corp. [LRCX]1.3
Entergy Corp. [ETR]1.3
Valero Energy Corp. [VLO]1.3
Lincoln National Corp. [LNC]1.3
FirstEnergy Corp. [FE]1.3
Eastman Chemical Co. [EMN]1.2
% of Total Holdings:13.6

Full Holdings (As of Quarter Ended 06/30/2017)

Company Name [Ticker]CountryShares (000's)Current Price ($)Market Value ($000's)% of Net Assets
Public Service Enterprise Group Inc. [PEG]US36843.0115,8451.7
Ameriprise Financial Inc. [AMP]US111127.2914,1291.5
Regions Financial Corp. [RF]US90514.6413,2541.4
SunTrust Banks Inc. [STI]US22556.7212,7681.3
LAM Research Corp. [LRCX]US88141.4312,4601.3
Entergy Corp. [ETR]US16276.7712,4521.3
Valero Energy Corp. [VLO]US18367.4612,3721.3
Lincoln National Corp. [LNC]US18067.5812,1511.3
FirstEnergy Corp. [FE]US41029.1611,9411.3
Eastman Chemical Co. [EMN]US14183.9911,8511.2
Everest Re Group Ltd. [RE]BM45254.5911,4311.2
United Continental Holdings Inc. [UAL]US13975.2510,4821.1
Cummins Inc. [CMI]US62162.2210,0901.1
Tesoro Corp. [TSOW]US10693.609,9311.0
Cardinal Health Inc. [CAH]US12777.929,8801.0
Goodyear Tire & Rubber Co. [GT]US27734.969,6911.0
Spirit Aerosystems Holdings Inc. [SPR]US16157.949,3341.0
KeyCorp [KEY]US49518.749,2801.0
Scana Corp. [SCG]US13767.019,1701.0
Discover Financial Services [DFS]US14462.198,9800.9
Applied Materials Inc. [AMAT]US21341.318,8030.9
Wyndham Worldwide Corp. [WYN]US88100.418,7860.9
Packaging Corp. of America [PKG]US77111.398,6040.9
Fifth Third Bancorp [FITB]US32825.968,5120.9
Senior Housing Properties Trust [SNH]US41120.448,4030.9
NCR Corp. [NCR]US19840.848,0700.8
American Electric Power Co. Inc. [AEP]US11569.477,9960.8
Hartford Financial Services Group Inc. [HIG]US15152.577,9280.8
Flex Ltd. [FLEX]SG48016.317,8370.8
American Airlines Group Inc. [AAL]US15450.327,7390.8
Annaly Capital Management Inc. [NLY]US62412.057,5190.8
Huntsman Corp. [HUN]US29025.847,4860.8
Lexington Realty Trust [LXP]US7349.917,2690.8
JetBlue Airways Corp. [JBLU]US31622.837,2050.8
Wabash National Corp. [WNC]US32721.987,1960.8
Whirlpool Corp. [WHR]US37191.627,1670.8
Alaska Air Group Inc. [ALK]US7989.767,0960.7
Corning Inc. [GLW]US23630.057,0770.7
Celanese Corp. [CE]US7394.946,9120.7
OMEGA Healthcare Investors Inc. [OHI]US20933.026,9110.7
Host Hotels & Resorts Inc. [HST]US37818.276,9060.7
Piedmont Office Realty Trust Inc. [PDM]US32121.086,7650.7
Hospitality Properties Trust [HPT]US23029.156,6930.7
Lazard Ltd. [LAZ]BM14446.336,6780.7
Bunge Ltd. [BG]BM8974.606,6470.7
Huntington Ingalls Industries Inc. [HII]US36186.166,6090.7
Mack-Cali Realty Corp. [CLI]US24427.146,6090.7
Lear Corp. [LEA]US46142.086,5780.7
CIT Group Inc. [CIT]US13548.706,5650.7
Brinker International Inc. [EAT]US17238.106,5380.7
Juniper Networks Inc. [JNPR]US23327.886,4850.7
Unum Group [UNM]US13946.636,4820.7
Edison International [EIX]US8278.196,4430.7
Summit Hotel Properties Inc. [INN]US33518.656,2400.7
Oshkosh Corp. [OSK]US8668.885,9370.6
Textron Inc. [TXT]US12547.105,8830.6
CIGNA Corp. [CI]US35167.395,8590.6
Western Digital Corp. [WDC]US6588.605,7770.6
Reliance Steel & Aluminum Co. [RS]US7872.815,7160.6
Sabra Health Care REIT Inc. [SBRA]US23424.105,6470.6
Franklin Street Properties Corp. [FSP]US50811.085,6270.6
Seagate Technology plc [STX]IE14438.755,5720.6
Brocade Communications Systems Inc. [BRCD]US43912.615,5350.6
Xerox Corp. [XRX]US19028.735,4560.6
Tyson Foods Inc. [TSN]US8762.635,4430.6
Jazz Pharmaceuticals plc [JAZZ]IE35155.505,4270.6
Manpowergroup Inc. [MAN]US48111.655,3260.6
Owens Corning Inc. [OC]US7766.925,1260.5
Aflac Inc. [AFL]US6577.685,0570.5
Select Income REIT [SIR]US21024.035,0420.5
Zions Bancorporation [ZION]US11343.914,9790.5
Harley-Davidson Inc. [HOG]US9254.024,9480.5
Citizens Financial Group Inc. [CFG]US13835.684,9420.5
Murphy Oil Corp. [MUR]US19225.634,9310.5
On Semiconductor Corp. [ON]US35014.044,9130.5
Trinseo SA [TSE]LU7068.704,8360.5
Kohl's Corp. [KSS]US12538.674,8260.5
American Financial Group Inc. [AFG]US4899.374,7270.5
Quest Diagnostics Inc. [DGX]US42111.164,7130.5
Marathon Petroleum Corp. [MPC]US9052.334,6990.5
Group 1 Automotive Inc. [GPI]US7463.324,6670.5
Amkor Technology Inc. [AMKR]US4759.774,6410.5
Legg Mason Inc. [LM]US12138.164,6290.5
Vereit Inc. [VER]US5658.144,6020.5
Cabot Corp. [CBT]US8653.434,5950.5
Murphy USA Inc. [MUSA]US6174.114,5250.5
Ryder System Inc. [R]US6371.984,5200.5
McDermott International Inc. [MDR]PA6307.174,5140.5
NetApp Inc. [NTAP]US11340.054,5100.5
Pulte Homes Inc. [PHM]US18324.534,5000.5
Voya Financial Inc. [VOYA]US12036.894,4340.5
Western Union Co. [WU]US22819.054,3450.5
Teradyne Inc. [TER]US14130.034,2370.4
HP Inc. [HPQ]US24217.484,2360.4
AES Corp. [AES]US38011.114,2260.4
Tech Data Corp. [TECD]US42101.004,2220.4
Assurant Inc. [AIZ]US40103.694,1580.4
LifePoint Health Inc. [LPNT]US6167.154,1150.4
Briggs & Stratton Corp. [BGG]US17024.104,1020.4
American Outdoor Brands Corp. [AOBC]US18422.164,0890.4
Validus Holdings Ltd. [VR]BM7851.974,0330.4
XL Group Ltd. [XL]BM9043.803,9290.4
Principal Financial Group Inc. [PFG]US6164.073,8950.4
Atlas Air Worldwide Holdings Inc. [AAWW]US7452.153,8700.4
Government Properties Income Trust [GOV]US21118.313,8630.4
Moog Inc. [MOG/A]US5371.723,8080.4
Universal Corp. [UVV]US5964.703,8010.4
Domtar Corp. [UFS]US9938.423,7880.4
Navient Corp. [NAVI]US22516.653,7500.4
Kroger Co. [KR]US16023.323,7310.4
Assured Guaranty Ltd. [AGO]BM8841.743,6900.4
Viacom Inc. [VIAB]US10933.573,6520.4
PBF Energy Inc. [PBF]US16422.263,6440.4
Calatlantic Group Inc. [CAA]US10035.353,5240.4
Hersha Hospitality Trust [HT]US18918.513,4930.4
Owens-Illinois Inc. [OI]US14423.923,4490.4
TTM Technologies Inc. [TTMI]US19617.363,4070.4
Aetna Inc. [AET]US22151.833,4010.4
Universal Insurance Holdings Inc. [UVE]US13525.203,3920.4
Medical Properties Trust Inc. [MPW]US26312.873,3850.4
Plantronics Inc. [PLT]US6552.313,3790.4
Allstate Corp. [ALL]US3888.443,3700.4
Penske Automotive Group Inc. [PAG]US7743.913,3680.4
Axis Capital Holdings Ltd. [AXS]BM5264.663,3560.4
DDR Corp. [DDR]US3639.073,2910.3
Banco Latinoamericano de Comercio Exterior SA [BLX]PA12027.383,2860.3
Mylan NV [MYL]NL8438.823,2800.3
Ethan Allen Interiors Inc. [ETH]US10132.303,2780.3
Hillenbrand Inc. [HI]US9036.103,2420.3
Brandywine Realty Trust [BDN]US18217.533,1850.3
Trinity Industries Inc. [TRN]US11128.033,1170.3
Gap Inc. [GPS]US13921.993,0540.3
Radian Group Inc. [RDN]US18616.353,0390.3
Cooper-Standard Holdings Inc. [CPS]US30100.872,9860.3
Xenia Hotels & Resorts Inc. [XHR]US15019.372,9100.3
A. Schulman Inc. [SHLM]US9032.002,8900.3
AGCO Corp. [AGCO]US4267.392,8640.3
Invesco Mortgage Capital Inc. [IVR]US17116.712,8570.3
Pitney Bowes Inc. [PBI]US18715.102,8300.3
Bed Bath & Beyond Inc. [BBBY]US9330.402,8210.3
MGIC Investment Corp. [MTG]US24911.202,7930.3
Archer Daniels Midland Co. [ADM]US6841.382,7930.3
Magellan Health Inc. [MGLN]US3872.902,7560.3
Meritage Homes Corp. [MTH]US6542.202,7510.3
National Oilwell Varco Inc. [NOV]US8332.942,7470.3
Dick's Sporting Goods Inc. [DKS]US6939.832,7400.3
The Children's Place Retail Stores Inc. [PLCE]US27102.102,7260.3
Triumph Group Inc. [TGI]US8631.602,7110.3
Meritor Inc. [MTOR]US16216.612,6890.3
Nelnet Inc. [NNI]US5647.012,6560.3
Carter's Inc. [CRI]US3088.952,6550.3
PennyMac Mortgage Investment Trust [PMT]US14518.292,6480.3
Chicago Bridge & Iron Co. NV [CBI]NL13419.732,6460.3
Foot Locker Inc. [FL]US5449.282,6410.3
Convergys Corp. [CVG]US11123.782,6340.3
CA Inc. [CA]US7634.472,6300.3
Diamond Offshore Drilling Inc. [DO]US24110.832,6140.3
Office Depot Inc. [ODP]US4545.642,5600.3
Vishay Intertechnology Inc. [VSH]US15416.602,5600.3
Timken Co. [TKR]US5546.252,5580.3
Avnet Inc. [AVT]US6638.882,5470.3
WestRock Co. [WRK]US4456.662,5100.3
MFA Financial Inc. [MFA]US2988.392,5030.3
Tutor Perini Corp. [TPC]US8628.752,4840.3
Aircastle Ltd. [AYR]BM11421.752,4710.3
Two Harbors Investment Corp. [TWO]US2479.912,4470.3
CBL & Associates Properties Inc. [CBL]US2868.432,4140.3
Macy's Inc. [M]US10323.242,3890.3
Owens & Minor Inc. [OMI]US7332.192,3500.2
AMC Networks Inc. [AMCX]US4353.412,2910.2
Lannett Co. Inc. [LCI]US11020.402,2470.2
Netgear Inc. [NTGR]US4943.102,1250.2
Clearwater Paper Corp. [CLW]US4546.752,0940.2
Ingles Markets Inc. [IMKTA]US6233.302,0710.2
Maiden Holdings Ltd. [MHLD]BM18611.102,0700.2
AAR Corp. [AIR]US5634.761,9530.2
Dillard's Inc. [DDS]US3457.691,9380.2
GameStop Corp. [GME]US8921.611,9250.2
American Axle & Manufacturing Holdings Inc. [AXL]US11815.601,8440.2
Finish Line Inc. [FINL]US12414.171,7560.2
Oceaneering International Inc. [OII]US7522.841,7080.2
SUPERVALU Inc. [SVU]US5173.291,7000.2
Arcbest Corp. [ARCB]US7420.601,5290.2
TEGNA Inc. [TGNA]US9814.411,4190.1
Rowan Cos. plc [RDC]GB13210.241,3500.1
Amtrust Financial Services Inc. [AFSI]US8315.141,2570.1
Ship Finance International Ltd. [SFL]BM6613.609020.1
Cars.com Inc. [CARS]US3326.638740.1
RR Donnelley & Sons Co. [RRD]US5512.546930.1
Piper Jaffray Cos. [PJC]US1059.955760.1
Dhi Group Inc. [DHX]US1912.855430.1
Ensco plc [ESV]GB1015.165190.1
Lsc Communications Inc. [LKSD]US2121.404430.0
Gannett Co. Inc. [GCI]US268.722310.0
Energy XXI Ltd. [EXXIQ]BM540.0000.0
Total946,646100.0
Cash and Other Assets Less Liabilities0.0
Total Net Assets100%

Sector Allocation (As of Quarter Ended 06/30/2017)

As of Quarter Ended 06/30/2017
Economic SectorHarbor Mid Cap Value Fund %Russell Midcap® Value Index %
Financials22.119.7
Industrials14.311.3
Information Technology13.16.3
Consumer Discretionary12.412.1
Real Estate10.714.7
Utilities7.110.6
Materials6.85.1
Energy5.27.9
Health Care4.67.1
Consumer Staples2.74.3
Telecommunication Services0.00.9

Sector Returns (As of Quarter Ended 06/30/2017)

As of Quarter Ended 06/30/2017
Sector ReturnsHarbor Mid Cap Value Fund %Russell Midcap® Value Index %
Health Care4.57.8
Materials3.90.1
Financials2.93.3
Industrials2.62.9
Cash0.20.0
Telecommunication Services0.0-1.0
Utilities-0.61.8
Information Technology-0.83.5
Real Estate-1.21.4
Energy-3.1-11.9
Consumer Discretionary-4.74.6
Consumer Staples-9.60.3

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