Harbor Emerging Markets Equity Fund Investor Class (HIEEX)

Portfolio Characteristics (As of Quarter Ended 06/30/2016)

 Harbor Emerging Markets Equity FundMSCI Emerging Markets (ND) Index
Number of Holdings72836
Weighted Avg. Market Cap ($Mil)58,983.4749,342.21
Median Market Cap ($Mil)15,540.665,323.25
Price/Book Ratio1.261.47
Adj. Trailing P/E Ratio12.7613.50
Forecasted P/E Ratio10.4411.76
Earnings Growth Rate (%)7.049.30
Proj. Earnings Growth Rate (%)11.2511.78
Return on Equity (%)16.9114.14
Turnover (unannualized % since 10/31)31-
Beta vs. MSCI Emerging Markets (ND) Index0.95-
Beta vs. MSCI EAFE (ND) Index0.79-

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

Top Ten Holdings (As of Quarter Ended 06/30/2016)

Company Name [Ticker]% of Net Assets
Samsung Electronics Co. Ltd. [A005930]6.3
Taiwan Semiconductor Manufacturing Co. Ltd. ADR [TSM]4.7
Naspers Ltd. [NPN]3.3
Tencent Holdings Ltd. [700]3.1
Itau Unibanco Holding SA ADR [ITUB]2.9
Industrial & Commercial Bank of China Ltd. [1398]2.4
China Overseas Land & Investment Ltd. [688]2.3
Sberbank of Russia PJSC ADR [SBER]2.2
Bank Rakyat Indonesia Persero Tbk PT [BBRI]2.2
China Mobile Ltd. [941]2.1
% of Total Holdings:31.5

Full Holdings (As of Quarter Ended 06/30/2016)

Company Name [Ticker]CountryShares (000's)Current Price ($)Market Value ($000's)% of Net Assets
Samsung Electronics Co. Ltd. [A005930]KR21245.352,3626.3
Taiwan Semiconductor Manufacturing Co. Ltd. ADR [TSM]TW6626.231,7444.7
Naspers Ltd. [NPN]ZA8152.691,2173.3
Tencent Holdings Ltd. [700]CN5122.971,1673.1
Itau Unibanco Holding SA ADR [ITUB]BR1169.441,0922.9
Industrial & Commercial Bank of China Ltd. [1398]CN1,6130.569002.4
China Overseas Land & Investment Ltd. [688]CN2723.198672.3
Sberbank of Russia PJSC ADR [SBER]RU958.778352.2
Bank Rakyat Indonesia Persero Tbk PT [BBRI]ID9990.828222.2
China Mobile Ltd. [941]CN6711.577732.1
SK Hynix Inc. [A000660]KR2628.467282.0
LUKOIL Pjsc ADR [LKOD]RU1741.857081.9
ICICI Bank Ltd. ADR [IBN]IN957.186801.8
Grupo Financiero Banorte SAB de CV [GFNORTE O]MX1215.596791.8
Reliance Industries Ltd. [JPMCW1N5]IN4714.366781.8
Hyundai Motor Co. [A005380]KR6118.296641.8
AMBEV SA ADR [ABEV]BR1115.916571.8
China Pacific Insurance Group Co. Ltd. [2601]CN1883.396361.7
Dufry AG [DUFN]CH5119.606201.7
Cemex SAB de CV ADR [CX]MX1006.176181.7
Kasikornbank plc [KBANK]TH1254.866071.6
Vale SA ADR [VALE/P]BR1504.016021.6
Tata Consultancy Services Ltd. [TCS]IN1637.826011.6
Delta Electronics Inc. [2308]TW1204.885871.6
China Shenhua Energy Co. Ltd. [1088]CN3011.865601.5
China Construction Bank Corp. [939]CN8150.675441.5
AngloGold Ashanti Ltd. ADR [AU]ZA2818.065091.4
Brilliance China Automotive Holdings Ltd. [1114]CN4681.034801.3
Galaxy Entertainment Group Ltd. [27]CN1573.004711.3
Mega Financial Holding Co. Ltd. [2886]TW6200.764691.3
Hana Financial Group Inc. [A086790]KR2320.334691.3
Grupo Mexico SAB de CV [GMEXICO B]MX1962.344591.2
Trina Solar Ltd. ADR [TSL]CN597.744591.2
China Longyuan Power Group Corp. Ltd. [916]CN5510.834581.2
Telefonica Brasil SA ADR [VIV]BR3313.604421.2
Turkiye Halk Bankasi As [HALKB.E]TR1472.984361.2
PhosAgro OJSC GDR [PHOR]RU2914.794331.2
Larsen & Toubro Ltd. [JPMCW21K]IN1922.174221.1
Bharti Airtel Ltd. [JPMCW1NF]IN775.434171.1
Axis Bank Ltd.IN527.904131.1
China Everbright International Ltd. [257]CN3631.124061.1
Samsung Life Insurance Co. Ltd. [A032830]KR487.513811.0
Anhui Conch Cement Co. Ltd. [914]CN1562.423791.0
China Life Insurance Co. Ltd. [2628]CN1752.163771.0
Sasol Ltd. [SOL]ZA1327.053651.0
Aurobindo Pharma Ltd. [ARBP]IN3311.023631.0
OTP Bank plc [OTP]HU1622.383621.0
Sands China Ltd. [1928]CN1053.383551.0
PetroChina Co. Ltd. [857]CN5140.693540.9
China Cinda Asset Management Co. Ltd. [1359]CN1,0320.343500.9
UltraTech Cement Ltd. [ULTRACEMCO]IN750.683410.9
POSCO [A005490]KR2177.153190.9
Haier Electronics Group Co. Ltd. [1169]CN1991.533050.8
Lenovo Group Ltd. [992]CN4940.613000.8
CNOOC Ltd. ADR [CEO]CN2124.662720.7
E.Sun Financial Holding Co. Ltd. [2884]TW4380.592590.7
Tianhe Chemicals Group Ltd. [1619]CN2,6840.092420.6
Gerdau SA ADR [GGB]BR1251.822280.6
Gcl-Poly Energy Holdings Ltd. [3800]CN1,7080.132270.6
Reliance Industries Ltd. [RELIANCE]IN1514.402120.6
Discovery Ltd. [DSY]ZA258.352120.6
United Bank Ltd. [UBL]PK1241.692090.6
Industries Qatar Qsc [IQCD]QA827.012060.6
United Bank Ltd. [JPMCW1M3]PK1101.691860.5
Fomento Economico Mexicano SAB de CV ADR [FMX]MX292.491850.5
BOC Aviation Ltd. [2588]SG365.071840.5
B2W Cia Digital [BTOW3]BR512.931490.4
Bharti Airtel Ltd. [BHARTIARTL]IN235.411260.3
Larsen & Toubro Ltd. [LT]IN522.291150.3
Axis Bank Ltd. [AXSB]IN147.951140.3
Reliance Industries Ltd. [JPMCW121]IN714.36950.3
Bharti Airtel Ltd.IN85.43420.1
Total36,50598.1
Cash and Other Assets Less Liabilities1.9
Total Net Assets100%

Sector Allocation (As of Quarter Ended 06/30/2016)

As of Quarter Ended 06/30/2016
Economic SectorHarbor Emerging Markets Equity Fund %MSCI Emerging Markets (ND) Index %
Financials31.926.1
Information Technology21.922.6
Consumer Discretionary11.410.5
Materials11.16.3
Energy8.77.5
Telecommunication Services4.86.6
Industrials3.66.1
Consumer Staples2.38.4
Utilities1.23.2
Health Care1.02.7

Sector Returns (As of Quarter Ended 06/30/2016)

As of Quarter Ended 06/30/2016
Sector ReturnsHarbor Emerging Markets Equity Fund %MSCI Emerging Markets (ND) Index %
Utilities13.40.6
Materials4.0-0.7
Telecommunication Services3.70.0
Information Technology2.72.6
Consumer Staples2.44.3
Financials0.80.5
Health Care-2.00.4
Energy-2.31.9
Industrials-7.2-3.3
Consumer Discretionary-7.5-1.3
Cash-9.50.0

Country Allocation (As of Quarter Ended 06/30/2016)

As of Quarter Ended 06/30/2016
CountryHarbor Emerging Markets Equity Fund %MSCI Emerging Markets (ND) Index %
China29.225.9
South Korea13.214.6
India12.48.4
Brazil8.57.2
Taiwan8.212.1
South Africa6.27.3
Russia5.33.7
Mexico5.24.1
Indonesia2.22.7
Switzerland1.70.0
Other7.914.0

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 MSCI Emerging Markets (ND) Index is a market capitalization weighted index of equity securities in more than 20 emerging market economies. This unmanaged index does not reflect fees and expenses and is not available for direct investment.