Harbor High-Yield Bond Fund Investor Class (HYFIX)

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

 Harbor High-Yield Bond FundBofA Merrill Lynch US High Yield Index
Number of Bonds3002,255
Average Market Coupon (%)6.717.12
Yield to Maturity (%)5.635.77
Weighted Avg. Maturity (yrs)6.576.66
Duration to Worst (yrs)3.143.64

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

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

Issuer NameMaturity DateCoupon Rate (%)Market Value ($000's)% of Net Assets
Cequel Communications Holdings I LLC09/15/20206.419,2151.0
Murray Energy Corp.12/05/20209.516,6130.9
UPCB Finance VI Ltd.01/15/20226.916,4630.9
Level 3 Financing Inc.07/01/20198.116,4440.9
NRG Energy Inc.05/01/20246.216,2170.9
Hughes Satellite Systems Corp.06/15/20217.616,1000.9
Tronox Finance LLC08/15/20206.415,5630.8
North Atlantic Drilling Ltd.02/01/20196.214,8500.8
Tenet Healthcare Corp.08/01/20208.014,5830.8
MPH Acquisition Holdings LLC04/01/20226.613,6500.7
% of Total Holdings:159,6988.6

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

Issuer NameMaturity DateCoupon Rate (%)Market Value ($000's)% of Net Assets
Cequel Communications Holdings I LLC09/15/20206.419,2151.0
Murray Energy Corp.12/05/20209.516,6130.9
UPCB Finance VI Ltd.01/15/20226.916,4630.9
Level 3 Financing Inc.07/01/20198.116,4440.9
NRG Energy Inc.05/01/20246.216,2170.9
Hughes Satellite Systems Corp.06/15/20217.616,1000.9
Tronox Finance LLC08/15/20206.415,5630.8
North Atlantic Drilling Ltd.02/01/20196.214,8500.8
Tenet Healthcare Corp.08/01/20208.014,5830.8
MPH Acquisition Holdings LLC04/01/20226.613,6500.7
Cablevision Systems Corp.09/15/20225.913,2930.7
Sirius XM Radio Inc.07/15/20246.013,0310.7
Lightstream Resources02/01/20208.612,3440.7
Alliance Data Systems Corp.04/01/20206.412,1980.7
Clear Channel Worldwide Holdings Inc.03/15/20207.611,8130.6
Seadrill Ltd.09/15/20176.111,6330.6
HCA Inc.03/15/20225.911,5140.6
DISH DBS Corp.06/01/20216.811,4250.6
Ashtead Capital Inc.07/15/20226.511,2180.6
Infor US Inc.04/01/20199.411,1750.6
ENDO Finance LLC01/15/20235.411,0140.6
Safway Group Holding LLC05/15/20187.010,9160.6
Cumulus Media Holdings Inc.05/01/20197.810,8920.6
Key Energy Services Inc.03/01/20216.810,7110.6
TransDigm Inc.07/15/20246.510,6340.6
Walter Investment Management Corp.12/15/20217.910,5000.6
West Corp.07/15/20225.410,4210.6
Peninsula Gaming LLC11/20/20174.210,3860.6
Bombardier Inc.01/15/20236.110,3500.6
Iron Mountain Inc.08/15/20245.810,3500.6
Michaels Stores Inc.12/15/20205.910,1280.6
Sinclair Television Group Inc.04/01/20215.410,1130.6
Terex Corp.04/01/20206.510,0870.6
Fitness International LLC06/10/20205.59,9780.5
LKQ Corp.05/15/20234.89,9100.5
Sequa Corp.06/19/2017525.09,9010.5
Rice Energy Inc.05/01/20226.29,8520.5
Windstream Corp.10/15/20207.89,7990.5
Unit Corp.05/15/20216.69,7490.5
Vanguard Natural Resources LLC04/01/20207.99,7330.5
Community Health Systems Inc.02/01/20226.99,5850.5
Frontier Communications Corp.01/15/20237.19,5850.5
Spectrum Brands Inc.11/15/20226.69,5700.5
Nationstar Mortgage LLC07/01/20216.59,4710.5
Quebecor Media Inc.01/15/20235.89,3960.5
Allison Transmission Inc.05/15/20197.19,2990.5
Bi-Lo LLC09/15/20188.69,2590.5
Universal Hospital Services Inc.08/15/20207.68,9460.5
Sprint Communications Inc.08/15/20207.08,9460.5
Access Midstream Partners LP07/15/20226.18,8800.5
Gulfmark Offshore Inc.03/15/20226.48,7260.5
Rent-A-Center Inc.05/01/20214.88,7160.5
Polymer Group Inc.06/01/20196.98,6700.5
Goodyear Tire & Rubber Co.03/01/20216.58,6660.5
MDC Partners Inc.04/01/20206.88,4800.5
Reynolds Group Issuer Inc.10/15/20205.88,4800.5
Resolute Forest Products Inc.05/15/20235.98,4150.5
Sprint Communications Inc.11/15/20226.08,3540.5
Nortek Inc.04/15/20218.58,3530.5
Unitymedia Hessen GMBH & Co.01/15/20235.58,2160.4
Petrologistics LP04/01/20206.28,2130.4
Post Holdings Inc.12/15/20226.08,1700.4
Syncreon Group BV10/28/20205.28,0400.4
Halcon Resources Corp.07/15/20209.87,9480.4
Intelsat Luxembourg SA06/01/20238.17,9210.4
Felcor Lodging LP06/01/20196.87,8820.4
Cincinnati Bell Inc.03/15/20188.87,8750.4
Vpii Escrow Corp.07/15/20217.57,7790.4
Pinnacle Entertainment Inc.05/15/20208.87,7200.4
Brand Energy & Infrastructure Services Inc.12/01/20218.57,7040.4
SunGard Data Systems Inc.11/01/20196.67,6670.4
MediaCom Capital Corp.02/15/20227.27,6650.4
Time Inc.04/15/20225.87,5940.4
WMG Acquisition Corp.04/15/20226.87,5380.4
Precision Drilling Corp.11/15/20206.67,5250.4
Covanta Holding Corp.10/01/20226.47,5210.4
Biomet Inc.10/01/20206.57,5080.4
Lamar Media Corp.02/01/20225.97,4800.4
Viasat Inc.06/15/20206.97,4690.4
Dole Food Co. Inc.05/01/20197.27,4510.4
Gardner Denver Inc.08/15/20216.97,3850.4
ACCO Brands Corp.04/30/20206.87,3680.4
Central Garden Co.03/01/20188.27,2980.4
Chaparral Energy Inc.09/01/20218.27,1660.4
GCI Inc.06/01/20216.87,1090.4
Calpine Corp.07/31/20207.97,1070.4
Nexstar Broadcasting Inc.11/15/20206.97,0900.4
Gates Global LLC07/15/20226.07,0350.4
Hillman Group Inc.07/15/20226.47,0350.4
Griffon Corp.03/01/20225.26,9830.4
Wide Open West Finance LLC07/15/201910.26,9420.4
CCO Holdings LLC09/30/20225.26,9280.4
Alphabet Holding Co. Inc.11/01/20177.86,9260.4
T-Mobile USA Inc.04/01/20216.26,8770.4
TransUnion Holding Co.06/15/20189.66,8080.4
Wex Inc.02/01/20234.86,8080.4
Crestview DS Merger Sub II Inc.09/01/202110.06,6230.4
Hertz Corp.10/15/20187.56,5630.4
CenturyLink Inc.04/01/20205.66,5340.4
Peninsula Gaming LLC02/15/20188.46,4500.4
Nuveen Investments Inc.02/28/20196.56,4230.4
Sprint Corp.09/15/20217.26,4160.4
Suburban Propane Partners LP08/01/20217.46,3710.3
Exterran Holdings Inc.12/01/20187.26,3600.3
Plastipak Holdings Inc.10/01/20216.56,3600.3
Reynolds Group Issuer Inc.08/15/20199.96,3130.3
CenturyLink Inc.03/15/20225.86,2780.3
Brand Energy & Infrastructure Services Inc.11/26/20204.86,2580.3
Tenneco Inc.12/15/20206.96,2400.3
Davita Inc.08/15/20225.86,2210.3
AMC Networks Inc.07/15/20217.86,2090.3
CCO Holdings LLC01/31/20226.66,2030.3
ENDO Finance Co.01/15/20225.86,1350.3
Jurassic Holdings III Inc.02/15/20216.96,1350.3
Cablevision Systems Corp.04/15/20208.06,0960.3
Signode Industrial Group Lux SA05/01/20226.46,0900.3
Envision Healthcare Corp.07/01/20225.16,0680.3
Isle of Capri Casinos Inc.06/15/20208.96,0340.3
Jo-Ann Stores Inc.03/15/20198.15,8710.3
Felcor Lodging LP03/01/20235.65,8480.3
Cpg Merger Sub LLC10/01/20218.05,8160.3
Memorial Production Partners LP05/01/20217.65,7820.3
Nationstar Mortgage LLC10/01/20207.95,7800.3
Linn Energy LLC02/01/20217.85,7440.3
Levi Strauss & Co.05/01/20226.95,7040.3
Tenet Healthcare Corp.03/01/20195.05,6910.3
Chrysler Group LLC06/15/20218.25,6750.3
Alliance Data Systems Corp.12/01/20175.25,6700.3
Sequa Corp.12/15/20177.05,6640.3
RSI Home Products Inc.03/01/20186.95,6440.3
United Rentals North America Inc.04/15/20227.65,6380.3
Hornbeck Offshore Services Inc.03/01/20215.05,5640.3
Sesi LLC12/15/20217.15,5490.3
Michaels Stores Inc.11/01/20187.85,5120.3
American Axle & Manufacturing Inc.10/15/20226.65,5000.3
Reynolds Group Issuer Inc.04/15/20199.05,4780.3
FMG Resources (August 2006) Pty Ltd.11/01/20198.25,4630.3
CIT Group Inc.02/15/20195.55,4340.3
Station Casinos LLC03/01/20217.55,4330.3
Hanesbrands Inc.12/15/20206.45,4310.3
T-Mobile USA Inc.04/28/20216.65,4310.3
Biomet Inc.08/01/20206.55,4130.3
Gray Television Inc.10/01/20207.55,4130.3
Ameristar Casinos Inc.04/15/20217.55,4000.3
Intelsat Jackson Holdings SA10/15/20207.25,4000.3
Commscope Holding Co. Inc.06/01/20206.65,3630.3
NGL Energy Partners LP10/15/20216.95,3500.3
ADT Corp.10/15/20216.25,3130.3
Garda World Security Corp.11/15/20217.25,2810.3
Summit Materials LLC01/31/202010.55,2430.3
First Quality Finance Co. Inc.05/15/20214.65,2250.3
Numericable Group SA05/15/20226.05,2060.3
Belden Inc.09/01/20225.55,2000.3
Asurion LLC02/28/20218.55,1970.3
Cedar Fair LP03/15/20215.25,1750.3
Rosetta Resources Inc.05/01/20215.65,1690.3
Linn Energy LLC11/01/20196.25,1570.3
Bombardier Inc.10/15/20226.05,1310.3
Service Corp. International05/15/20245.45,1190.3
Seadrill Ltd.09/15/20206.65,1130.3
Syniverse Holdings Inc.01/15/20199.15,1000.3
Exterran Partners LP10/01/20226.05,1000.3
Compagnie Générale de Géophysique-Veritas06/01/20216.55,0870.3
United Rentals North America Inc.02/01/20218.25,0850.3
Memorial Resource Development Corp.07/01/20225.95,0630.3
Berry Plastics Corp.05/15/20225.55,0340.3
Quad/Graphics Inc.05/01/20227.05,0250.3
Goodyear Tire & Rubber Co.05/15/20227.05,0180.3
CGG SA01/15/20226.95,0130.3
RHP Hotel Properties LP04/15/20215.05,0130.3
AmeriGas Finance LLC05/20/20227.05,0060.3
Neff Rental05/21/20217.24,9970.3
Intelsat Jackson Holdings SA08/01/20235.54,9940.3
Seadrill Operating LP02/21/20214.04,9800.3
Digitalglobe Inc.02/01/20215.24,9750.3
IAC/InterActiveCorp12/15/20224.84,9440.3
Scientific Games International Inc.10/18/20204.24,9280.3
Wide Open West Finance LLC04/01/20194.84,9220.3
Genesis Energy LP02/15/20215.84,9120.3
Frontier Communications Corp.04/15/20247.64,7580.3
HCA Holdings Inc.05/15/20217.84,6700.3
Clean Harbors Inc.06/01/20215.14,6210.3
Sirius XM Radio Inc.10/01/20205.94,6110.3
Ferrellgas LP/Ferrellgas Finance Corp.05/01/20216.54,5620.2
Omega Healthcare Investors Inc.10/15/20226.84,5600.2
Oasis Petroleum Inc.01/15/20236.94,5170.2
24 Hour Holdings III LLC06/01/20228.04,5000.2
Kratos Defense & Security Solutions Inc.05/15/20197.04,4310.2
SunGard Data Systems Inc.11/15/20207.64,4070.2
Nuance Communications Inc.08/15/20205.44,3680.2
Eagle Rock Energy Partners LP06/01/20198.44,3400.2
Calpine Corp.01/15/20226.04,3300.2
Spirit Aerosystems Inc.12/15/20206.84,3200.2
BMC Software Finance Inc.07/15/20218.14,2900.2
Boyd Gaming Corp.12/01/20189.14,2750.2
Sensata Technologies BV05/15/20196.54,2750.2
ArcelorMittal03/01/20216.04,2360.2
Penske Automotive Group Inc.10/01/20225.84,2300.2
Geo Group Inc.01/15/20225.94,2200.2
Chesapeake Oilfield Operating LLC11/15/20196.64,2120.2
Sinclair Television Group Inc.10/01/20226.14,2000.2
Nationstar Mortgage LLC08/01/20186.54,1400.2
Sanchez Energy Corp.01/15/20236.14,1400.2
Capsugel SA05/15/20197.04,1280.2
ArcelorMittal08/05/20205.84,1260.2
Levi Strauss & Co.05/15/20207.64,1090.2
Hornbeck Offshore Services Inc.04/01/20205.94,1080.2
NCR Corp.07/15/20225.04,0700.2
Eagle Spinco Inc.02/15/20214.64,0600.2
HCA Inc.02/15/20227.54,0470.2
Dufry Finance SCA10/15/20205.54,0430.2
MediaCom Broadband LLC04/01/20236.44,0280.2
Qwest Capital Funding Inc.11/15/20186.54,0100.2
Cascades Inc.07/15/20225.54,0050.2
Dana Holding Corp.02/15/20216.83,9560.2
Titan International Inc.10/01/20206.93,9270.2
Nustar Logistics LP02/01/20216.83,9030.2
Bill Barrett Corp.10/01/20197.63,8970.2
Sealed Air Corp.12/01/20206.53,8420.2
Oasis Petroleum Inc.03/15/20226.93,8330.2
NCR Escrow Corp.12/15/20236.43,8150.2
Silgan Holdings Inc.04/01/20205.03,8110.2
Oasis Petroleum Inc.02/01/20197.23,7810.2
Sally Holdings LLC11/15/20196.93,7520.2
Gannett Co. Inc.10/15/20236.43,7450.2
Scientific Games International Inc.05/15/20216.63,6770.2
T-Mobile USA Inc.04/01/20236.63,6520.2
Wide Open West Finance LLC07/15/201910.23,6120.2
HCA Holdings Inc.02/15/20216.23,6050.2
BJ's Wholesale Club Inc.03/31/20208.53,5440.2
Tenet Healthcare Corp.10/01/20206.03,5340.2
Sinclair Television Group Inc.11/01/20216.43,5270.2
Westmoreland Coal Co.02/01/201810.83,4980.2
Affinia Group Inc.05/01/20217.83,4900.2
Isle of Capri Casinos Inc.03/15/20197.83,4860.2
Savers, Inc.10/03/20195.03,4370.2
CCO Holdings LLC04/30/20216.53,3670.2
Level 3 Financing Inc.06/01/20207.03,2930.2
Numericable Group SA05/15/20246.23,2920.2
Spectrum Brands Inc.03/15/20206.83,2790.2
SBA Telecommunications Inc.07/15/20205.83,2480.2
Cyrusone LP11/15/20226.43,2480.2
T-Mobile USA Inc.04/28/20226.73,2480.2
ENDO Finance LLC12/15/20207.03,2320.2
Valeant Pharmaceuticals International10/15/20206.43,1990.2
West Corp.10/01/20188.63,1910.2
US Telepacific Corp.02/23/20175.83,1890.2
Windstream Corp.09/01/20188.13,1560.2
PQ Corp.05/01/20188.83,1030.2
Prestige Brands Inc.02/01/20208.13,0800.2
Dish DBS Corp.03/15/20235.03,0640.2
Virgin Media Finance plc04/15/20236.43,0520.2
NRG Energy Inc.07/15/20226.22,9360.2
OMEGA Healthcare Investors Inc.03/15/20245.92,9290.2
Cablevision Systems Corp.04/15/20187.82,8910.2
MediaCom Broadband LLC04/15/20215.52,8460.2
Murray Energy Corp.06/15/20218.62,8280.2
Townsquare Radio LLC04/01/20199.02,7810.2
TGGT Holdings LLC11/15/20186.52,7100.1
Jo-Ann Stores Holdings Inc.10/15/20199.82,6460.1
Sirius XM Radio Inc.05/15/20234.62,6400.1
Hughes Satellite Systems Corp.06/15/20196.52,6320.1
CSC Holdings LLC06/01/20245.22,6140.1
Kronos Inc.04/30/20209.82,6090.1
Men's Wearhouse Inc.07/01/20227.02,6000.1
Isle of Capri Casinos Inc.03/15/20215.92,5910.1
MarkWest Energy Finance Corp.06/15/20226.22,5460.1
Spectrum Brands Inc.11/15/20206.42,5380.1
MedAssets Inc.11/15/20188.02,3380.1
TMS International Corp.10/15/20217.62,2580.1
Hub International Ltd.10/02/20204.82,1960.1
Community Health Systems Inc.11/15/20198.02,1950.1
Salix Pharmaceuticals Ltd.01/15/20216.02,1500.1
Sally Holdings LLC06/01/20225.82,1290.1
Scientific Games International Inc.09/01/20206.22,1290.1
CCO Holdings LLC02/15/20235.12,0250.1
Mallinckrodt International Finance SA04/15/20234.81,9500.1
Darling Escrow Corp.01/15/20225.41,8740.1
Hiland Partners LP10/01/20207.21,8620.1
Covanta Holding Corp.03/01/20245.91,7660.1
TransDigm Inc.07/15/20226.01,7490.1
Equinix Inc.07/15/20217.01,6630.1
MPT Operating Partnership LP05/01/20216.91,6430.1
Hertz Corp.01/15/20217.41,6350.1
T-Mobile USA Inc.01/15/20246.51,6070.1
Jaguar Land Rover Automotive plc02/01/20235.61,5990.1
Silgan Holdings Inc.02/01/20225.51,5600.1
Linn Energy LLC05/15/20196.51,5370.1
Geo Group Inc.04/01/20235.11,5080.1
SBA Communications Corp.10/01/20195.61,4360.1
Bristow Group Inc.10/15/20226.21,3480.1
Univision Communications Inc.09/15/20226.81,2570.1
Level 3 Financing Inc.01/15/20216.11,1830.1
Chesapeake Energy Corp.02/15/20216.11,1250.1
Exterran Partners LP04/01/20216.01,0150.1
CCO Holdings LLC04/30/20208.19770.1
Hertz Corp.04/15/20196.86920.0
T-Mobile USA Inc.04/28/20206.55420.0
Qep Resources Inc.10/01/20225.44140.0
Denbury Resources Inc.07/15/20234.62190.0
Total1,768,51096.1
Cash and Other Assets Less Liabilities3.9
Total Net Assets100%

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

As of Quarter Ended 06/30/2014
Economic SectorHarbor High-Yield Bond Fund %
Consumer Discretionary31.6
Energy14.4
Industrials14.2
Health Care8.1
Materials7.5
Telecommunication Services7.3
Information Technology5.0
Financials4.1
Consumer Staples2.4
Utilities1.7

Maturity Profile (As of Quarter Ended 06/30/2014)

As of Quarter Ended 06/30/2014
MaturityHarbor High-Yield Bond Fund %BofA Merrill Lynch US High Yield Index %
0-1 yr1.70.0
1-3 yr0.76.5
3-5 yr15.820.6
5-7 yr41.932.4
7-10 yr37.132.8
10-20 yr1.95.7
20-30 yr0.02.0
Over 30 yr0.00.1

Duration (As of Quarter Ended 06/30/2014)

As of Quarter Ended 06/30/2014
DurationHarbor High-Yield Bond Fund %BofA Merrill Lynch US High Yield Index %
0-1 yr18.113.2
1-3 yr31.631.6
3-5 yr27.529.8
5-7 yr21.017.0
7-10 yr1.05.4
10-20 yr0.02.9
20-30 yr0.00.0
Over 30 yr0.00.0

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 BofA Merrill Lynch US High Yield Index is an unmanaged index that tracks the performance of below investment grade U.S. dollar-denominated corporate bonds publicly issued in the U.S. domestic market. All bonds are U.S. dollar denominated and rated Split BBB and below. The unmanaged indices do not reflect fees and expenses and are not available for direct investment.