Harbor Small Cap Growth Fund Institutional Class (HASGX)

Portfolio Characteristics (As of Quarter Ended 12/31/2018)

Harbor Small Cap Growth FundRussell 2000® Growth Index
Number of Holdings721,257
Weighted Avg. Market Cap ($Mil)4,009.722,201.15
Median Market Cap ($Mil)3,065.31787.57
Price/Book Ratio4.363.81
Adj. Trailing P/E Ratio23.9719.86
Forecasted P/E Ratio19.6418.43
Earnings Growth Rate (%)18.7013.10
Proj. Earnings Growth Rate (%)18.9617.49
Return on Equity (%)8.8510.62
Turnover (unannualized % since 10/31)65-
Beta vs. Fund Benchmark0.95-

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

Top Ten Holdings (As of Quarter Ended 12/31/2018)

Company Name [Ticker]% of Net Assets
Icon plc [ICLR]2.8
Madison Square Garden Co. [MSG]2.5
Ultimate Software Group Inc. [ULTI]2.5
BIO-RAD Laboratories Inc. [BIO]2.3
Berry Global Group Inc. [BERY]2.2
Teledyne Technologies Inc. [TDY]2.2
Tableau Software Inc. [DATA]2.2
Ascendis Pharma A/S ADR [ASND]2.1
Integra LifeSciences Holdings Corp. [IART]2.1
Interxion Holding NV [INXN]2.0
% of Total Holdings:22.9

Full Holdings (As of Quarter Ended 12/31/2018)

Company Name [Ticker]CountryShares (000's)Current Price ($)Market Value ($000's)% of Net Assets
Icon plc [ICLR]IE135129.2117,4442.8
Madison Square Garden Co. [MSG]US58267.7015,5312.5
Ultimate Software Group Inc. [ULTI]US62244.8715,2672.5
BIO-RAD Laboratories Inc. [BIO]US62232.2214,4282.3
Berry Global Group Inc. [BERY]US28747.5313,6532.2
Teledyne Technologies Inc. [TDY]US65207.0713,5222.2
Tableau Software Inc. [DATA]US112120.0013,4332.2
Ascendis Pharma A/S ADR [ASND]DK21162.6513,2332.1
Integra LifeSciences Holdings Corp. [IART]US28845.1012,9872.1
Interxion Holding NV [INXN]NL23454.1612,6982.0
Kemper Corp. [KMPR]US18766.3812,4082.0
Msa Safety Inc. [MSA]US12794.2711,9471.9
Ingevity Corp. [NGVT]US14283.6911,9021.9
Heico Corp. [HEI.A]US18763.0011,7881.9
LPL Financial Holdings Inc. [LPLA]US18961.0811,5251.9
Rush Enterprises Inc. [RUSHA]US33334.4811,4821.8
WPX Energy Inc. [WPX]US98811.3511,2151.8
Fair Isaac Corp. [FICO]US57187.0010,5991.7
Acceleron Pharma Inc. [XLRN]US24243.5510,5471.7
Dave & Buster's Entertainment Inc. [PLAY]US23644.5610,4941.7
Haemonetics Corp. [HAE]US100100.059,9841.6
Flowserve Corp. [FLS]US26038.029,8911.6
Lincoln Electric Holdings Inc. [LECO]US12578.859,8811.6
PBF Energy Inc. [PBF]US29732.679,7071.6
Nice Ltd. ADR [NICE]IL89108.219,6571.6
Proofpoint Inc. [PFPT]US11483.819,5741.5
Wolverine World Wide Inc. [WWW]US30031.899,5531.5
American Eagle Outfitters Inc. [AEO]US48819.339,4381.5
Monolithic Power Systems Inc. [MPWR]US80116.259,3301.5
Novocure Ltd. [NVCR]JE27433.489,1811.5
Trex Co. Inc. [TREX]US15559.369,1731.5
Masimo Corp. [MASI]US84107.378,9961.4
Eldorado Resorts Inc. [ERI]US23836.218,6131.4
Bright Horizons Family Solutions Inc. [BFAM]US75111.458,3771.3
Nuance Communications Inc. [NUAN]US62813.238,3131.3
Medicines Co. [MDCO]US43119.148,2541.3
Ironwood Pharmaceuticals Inc. [IRWD]US78910.368,1771.3
Ryder System Inc. [R]US16848.158,0851.3
Viavi Solutions Inc. [VIAV]US79910.058,0311.3
Univar Inc. [UNVR]US45217.748,0121.3
Zogenix Inc. [ZGNX]US21436.467,8161.3
8x8 Inc. [EGHT]US43318.047,8051.3
Acacia Communications Inc. [ACIA]US20438.007,7591.2
Bank of NT Butterfield & Son Ltd. [NTB]BM24231.357,5931.2
Green Dot Corp. [GDOT]US9579.527,5301.2
Intersect ENT Inc. [XENT]US26628.187,5001.2
WNS Holdings Ltd. ADR [WNS]JE17841.267,3641.2
Hff Inc. [HF]US21633.167,1671.2
Wex Inc. [WEX]US51140.067,1491.2
Cantel Medical Corp. [CMD]US8574.456,3171.0
Servicemaster Global Holdings Inc. [SERV]US16836.746,1691.0
Wright Medical Group NV [WMGI]NL21927.225,9491.0
Summit Materials Inc. [SUM]US46912.405,8100.9
Blueprint Medicines Corp. [BPMC]US10753.915,7880.9
Fate Therapeutics Inc. [FATE]US44112.835,6590.9
Centennial Resource Development Inc. [CDEV]US49611.025,4620.9
Inphi Corp. [IPHI]US16632.155,3420.9
Hamilton Lane Inc. [HLNE]US14337.005,2880.9
Nexstar Media Group Inc. [NXST]US6378.644,9550.8
Smartsheet Inc. [SMAR]US19624.864,8830.8
Evolent Health Inc. [EVH]US24419.954,8740.8
Alarm.Com Holdings Inc. [ALRM]US8951.874,6010.7
Correvio Pharma Corp. [CORV]CA1,8362.494,5710.7
Catalent Inc. [CTLT]US14631.184,5660.7
Apellis Pharmaceuticals Inc. [APLS]US30713.194,0540.7
Ultra Clean Holdings Inc. [UCTT]US4638.473,9210.6
National Vision Holdings Inc. [EYE]US13928.173,9170.6
Commvault Systems Inc. [CVLT]US5959.093,5150.6
Cymabay Therapeutics Inc. [CBAY]US4317.873,3880.5
Matson Inc. [MATX]US10532.023,3700.5
Advanced Energy Industries Inc. [AEIS]US6942.932,9780.5
Momenta Pharmaceuticals Inc. [MNTA]US25511.042,8180.5
Total612,20898.5
Cash and Other Assets Less Liabilities1.5
Total Net Assets100%

Sector Allocation (As of Quarter Ended 12/31/2018)

As of Quarter Ended 12/31/2018
Economic SectorHarbor Small Cap Growth Fund %Russell 2000® Growth Index %
Health Care28.426.3
Information Technology24.518.5
Industrials15.617.7
Consumer Discretionary9.114.8
Financials7.17.5
Materials5.03.4
Energy4.21.7
Communication Services3.33.5
Real Estate1.23.0
Consumer Staples0.03.1
Utilities0.00.5

Sector Returns (As of Quarter Ended 12/31/2018)

As of Quarter Ended 12/31/2018
Sector ReturnsHarbor Small Cap Growth Fund %Russell 2000® Growth Index %
Cash0.60.0
Utilities0.01.8
Communication Services-11.5-18.8
Consumer Staples-14.2-12.5
Information Technology-16.3-18.0
Materials-19.1-25.8
Financials-19.9-19.0
Real Estate-21.9-11.5
Industrials-24.1-22.5
Health Care-25.0-25.0
Consumer Discretionary-28.1-20.8
Energy-41.7-41.3

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 Frank Russell Company.