Harbor Small Cap Growth Opportunities Fund Investor Class (HISOX)

Portfolio Characteristics (As of Quarter Ended 03/31/2016)

 Harbor Small Cap Growth Opportunities FundRussell 2000® Growth Index
Number of Holdings951,181
Weighted Avg. Market Cap ($Mil)1,203.862,027.26
Median Market Cap ($Mil)1,006.83700.83
Price/Book Ratio2.653.47
Adj. Trailing P/E Ratio51.5434.48
Forecasted P/E Ratio19.6218.13
Earnings Growth Rate (%)13.7315.35
Proj. Earnings Growth Rate (%)16.1917.91
Return on Equity (%)17.4218.66
Turnover (unannualized % since 10/31)26-
Beta vs. Russell 2000® Growth Index0.95-
Beta vs. Russell 3000® Index1.12-

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

Top Ten Holdings (As of Quarter Ended 03/31/2016)

Company Name [Ticker]% of Net Assets
Maxlinear Inc. [MXL]3.6
Synchronoss Technologies Inc. [SNCR]3.1
MDC Partners Inc. [MDCA]2.5
Wageworks Inc. [WAGE]2.1
WNS Holdings Ltd. ADR [WNS]1.9
ExamWorks Group Inc. [EXAM]1.9
Gogo Inc. [GOGO]1.7
QLIK Technologies Inc. [QLIK]1.6
Blackhawk Network Holdings Inc. [HAWK]1.6
Cerus Corp. [CERS]1.6
% of Total Holdings:21.6

Full Holdings (As of Quarter Ended 03/31/2016)

Company Name [Ticker]CountryCUSIPShares (000's)Current Price ($)Market Value ($000's)% of Net Assets
Maxlinear Inc. [MXL]US57776J10043018.507,9553.6
Synchronoss Technologies Inc. [SNCR]US87157B10321432.346,9103.1
MDC Partners Inc. [MDCA]CA55269710423323.605,4912.5
Wageworks Inc. [WAGE]US9304271099250.614,6562.1
WNS Holdings Ltd. ADR [WNS]IN92932M10114130.644,3061.9
ExamWorks Group Inc. [EXAM]US30066A10514029.564,1401.9
Gogo Inc. [GOGO]US38046C10935011.013,8581.7
QLIK Technologies Inc. [QLIK]US74733T10512628.923,6441.6
Blackhawk Network Holdings Inc. [HAWK]US09238E10410434.303,5781.6
Cerus Corp. [CERS]US1570851016025.933,5691.6
Penn National Gaming Inc. [PENN]US70756910921316.693,5621.6
Korn/Ferry International [KFY]US50064320012628.293,5591.6
National General Holdings Corp. [NGHC]US63622030316521.593,5531.6
Innerworkings Inc. [INWK]US45773Y1054467.953,5431.6
Callidus Software Inc. [CALD]US13123E50020716.683,4471.5
Mobile Mini Inc. [MINI]US60740F10510333.023,3931.5
Pacira Pharmaceuticals Inc. [PCRX]US6951271006252.983,2631.5
Merit Medical Systems Inc. [MMSI]US58988910417318.493,1971.4
Churchill Downs Inc. [CHDN]US17148410821147.883,0751.4
ICU Medical Inc. [ICUI]US44930G10729104.103,0181.4
Logmein Inc. [LOGM]US54142L1095950.462,9681.3
Novadaq Technologies Inc. [NVDQ]CA66987G10226411.092,9311.3
On Assignment Inc. [ASGN]US6821591087936.922,9151.3
Clubcorp Holdings Inc. [MYCC]US18948M10819914.042,7981.3
LendingTree Inc. [TREE]US52603B1072897.782,7761.2
Tubemogul Inc. [TUBE]US89857010620712.942,6801.2
Endologix Inc. [ELGX]US29266S1063168.362,6391.2
Tuesday Morning Corp. [TUES]US8990355053198.182,6131.2
Ruckus Wireless Inc. [RKUS]US7812201082649.812,5881.2
Interxion Holding NV [INXN]NLN472791097434.582,5631.2
Wright Medical Group NV [WMGI]NLN9661711815416.602,5541.1
Financial Engines Inc. [FNGN]US3174851008131.432,5341.1
Ceb Inc. [CEB]US1251341063964.732,5111.1
Shutterfly Inc. [SFLY]US82568P3045346.372,4721.1
Vasco Data Security International Inc. [VDSI]US92230Y10415315.402,3551.1
Perficient Inc. [PRFT]US71375U10110621.722,3121.0
National CineMedia Inc. [NCMI]US63530910715215.212,3121.0
Caesarstone Sdot-Yam Ltd. [CSTE]ILM205981046734.352,3101.0
Livanova plc [LIVN]GBG5509L1014253.982,2581.0
Beacon Roofing Supply Inc. [BECN]US0736851095541.012,2491.0
Gigamon Inc. [GIMO]US37518B1027231.022,2411.0
Infoblox Inc. [BLOX]US45672H10412917.102,2081.0
Party City Holdco Inc. [PRTY]US70214910514515.042,1851.0
Accuray Inc. [ARAY]US0043971053655.782,1070.9
Century Communities Inc. [CCS]US15650430012317.072,1030.9
Dycom Industries Inc. [DY]US2674751013264.672,0910.9
Bankrate Inc. [RATE]US06647F1022219.172,0310.9
Belmond Ltd. [BEL]BMG1154H1072099.491,9800.9
Encore Capital Group Inc. [ECPG]US2925541027725.741,9770.9
OSI Systems Inc. [OSIS]US6710441053065.491,9620.9
Medicines Co. [MDCO]US5846881056031.771,9170.9
Teligent Inc. [TLGT]US87960W1043884.901,9010.9
Barnes Group Inc. [B]US0678061095435.031,8980.9
Ariad Pharmaceuticals Inc. [ARIA]US04033A1002956.391,8860.8
Fleetmatics Group plc [FLTX]IEG355691054540.711,8450.8
Shutterstock Inc. [SSTK]US8256901005036.731,8260.8
Ambarella Inc. [AMBA]KYG037AX1014144.701,8130.8
Vocera Communications Inc. [VCRA]US92857F10714212.751,8090.8
Planet Fitness Inc. [PLNT]US72703H10111016.241,7890.8
Iridium Communications Inc. [IRDM]US46269C1022257.871,7680.8
Nobilis Health Corp. [HLTH]CA65500B1035573.121,7380.8
Dave & Buster's Entertainment Inc. [PLAY]US2383371094538.781,7350.8
Circor International Inc. [CIR]US17273K1093746.391,7180.8
On Deck Capital Inc. [ONDK]US6821631002167.791,6810.8
Papa Murphy's Holdings Inc. [FRSH]US69881410014011.951,6780.8
H&E Equipment Services Inc. [HEES]US4040301089517.531,6620.7
Cynosure Inc. [CYNO]US2325772053744.121,6210.7
Chegg Inc. [CHGG]US1630921093564.461,5870.7
HMS Holdings Corp. [HMSY]US40425J10110714.351,5350.7
Bofi Holding Inc. [BOFI]US05566U1087221.341,5350.7
Malibu Boats Inc. [MBUU]US56117J1009316.401,5170.7
Teladoc Inc. [TDOC]US87918A1051579.601,5090.7
Evolent Health Inc. [EVH]US30050B10113910.561,4670.7
Methode Electronics Inc. [MEI]US5915202005029.241,4550.7
Zeltiq Aesthetics Inc. [ZLTQ]US98933Q1085227.161,4200.6
Textura Corp. [TXTR]US8832111047618.631,4090.6
Global Eagle Entertainment Inc. [ENT]US37951D1021558.521,3230.6
Imperva Inc. [IMPV]US45321L1002650.501,2930.6
Habit Restaurants Inc. [HABT]US40449J1036818.631,2650.6
Aralez Pharmaceuticals Inc. [ARLZ]CA03852X1003433.551,2160.5
Talmer Bancorp Inc. [TLMR]US87482X1016518.091,1740.5
Exlservice Holdings Inc. [EXLS]US3020811042251.801,1640.5
NutriSystem Inc. [NTRI]US67069D1085520.871,1530.5
NN Inc. [NNBR]US6293371068413.681,1480.5
Fox Factory Holding Corp. [FOXF]US35138V1027115.811,1250.5
Power Solutions International Inc. [PSIX]US73933G2028013.801,1020.5
Ixia [XXIA]US45071R1098712.461,0870.5
DigitalGlobe Inc. [DGI]US25389M8776117.301,0520.5
Webmd Health Corp. [WBMD]US94770V1021662.631,0300.5
Pandora Media Inc. [P]US6983541071158.951,0270.5
BioSpecifics Technologies Corp. [BSTC]US0909311062934.821,0260.5
Mercury Systems Inc. [MRCY]US5893781083420.306810.3
Pernix Therapeutics Holdings Inc. [PTX]US71426V1085641.055920.3
EVINE Live Inc. [EVLV]US3004871054781.175600.3
Cryolife Inc. [CRY]US2289031004710.755100.2
Total217,18797.6
Cash and Other Assets Less Liabilities2.4
Total Net Assets100%

Sector Allocation (As of Quarter Ended 03/31/2016)

As of Quarter Ended 03/31/2016
Economic SectorHarbor Small Cap Growth Opportunities Fund %Russell 2000® Growth Index %
Information Technology32.525.6
Health Care22.423.7
Consumer Discretionary19.018.2
Industrials16.114.1
Financials6.88.4
Telecommunication Services0.80.9
Energy0.00.9
Materials0.04.3
Utilities0.00.1
Consumer Staples0.03.6

Sector Returns (As of Quarter Ended 03/31/2016)

As of Quarter Ended 03/31/2016
Sector ReturnsHarbor Small Cap Growth Opportunities Fund %Russell 2000® Growth Index %
Cash0.10.0
Energy0.0-11.6
Materials0.00.8
Utilities0.0-5.5
Industrials-1.35.8
Consumer Discretionary-1.53.1
Financials-2.71.4
Information Technology-4.3-3.8
Telecommunication Services-6.412.9
Consumer Staples-7.90.4
Health Care-14.2-18.3

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