Harbor Capital Appreciation Fund Institutional Class (HACAX)

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

Harbor Capital Appreciation FundRussell 1000® Growth Index
Number of Holdings57546
Weighted Avg. Market Cap ($Mil)259,108.62247,391.07
Median Market Cap ($Mil)69,726.1910,436.44
Price/Book Ratio8.597.06
Adj. Trailing P/E Ratio28.8524.79
Forecasted P/E Ratio22.0118.73
Earnings Growth Rate (%)22.3113.99
Proj. Earnings Growth Rate (%)21.5916.32
Return on Equity (%)19.5821.57
Turnover (unannualized % since 10/31)26-
Beta vs. Fund Benchmark1.10-

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
Amazon.com Inc. [AMZN]5.8
Microsoft Corp. [MSFT]5.1
MasterCard Inc. [MA]3.8
Salesforce.com Inc. [CRM]3.8
Tencent Holdings Ltd. [700]3.5
VISA Inc. [V]3.5
Boeing Co. [BA]3.3
Apple Inc. [AAPL]3.2
NetFlix Inc. [NFLX]3.2
Alphabet Inc. Class A [GOOGL]3.0
% of Total Holdings:38.2

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

Company Name [Ticker]CountryShares (000's)Current Price ($)Market Value ($000's)% of Net Assets
Amazon.com Inc. [AMZN]US1,0181501.971,529,2805.8
Microsoft Corp. [MSFT]US13,394101.571,360,4265.1
MasterCard Inc. [MA]US5,381188.651,015,0663.8
Salesforce.com Inc. [CRM]US7,340136.971,005,3083.8
Tencent Holdings Ltd. [700]CN23,53940.08943,4433.5
VISA Inc. [V]US7,004131.94924,0903.5
Boeing Co. [BA]US2,742322.50884,1703.3
Apple Inc. [AAPL]US5,469157.74862,6143.2
NetFlix Inc. [NFLX]US3,192267.66854,4303.2
Alphabet Inc. Class A [GOOGL]US7581044.96791,8783.0
Alphabet Inc. Class C [GOOG]US7641035.61790,7083.0
Adobe Systems Inc. [ADBE]US3,480226.24787,2913.0
Alibaba Group Holding Ltd. ADR [BABA]CN5,424137.07743,5122.8
Facebook Inc. [FB]US5,604131.09734,5762.8
Tesla Inc. [TSLA]US1,849332.80615,1962.3
AstraZeneca plc ADR [AZN]GB14,87737.98565,0442.1
Illumina Inc. [ILMN]US1,704299.93511,0901.9
UnitedHealth Group Inc. [UNH]US2,016249.12502,2821.9
Costco Wholesale Corp. [COST]US2,441203.71497,2291.9
Nike Inc. [NKE]US6,51874.14483,2201.8
JPMorgan Chase & Co. [JPM]US4,40597.62430,0241.6
Marriott International Inc. [MAR]US3,863108.56419,4191.6
Home Depot Inc. [HD]US2,416171.82415,1511.6
NVIDIA Corp. [NVDA]US2,985133.50398,4421.5
Workday Inc. [WDAY]US2,474159.68395,0161.5
Vertex Pharmaceuticals Inc. [VRTX]US2,302165.71381,3991.4
Broadcom Inc. [AVGO]US1,484254.28377,2761.4
Estée Lauder Companies Inc. [EL]US2,862130.10372,3321.4
FleetCor Technologies Inc. [FLT]US1,883185.72349,6831.3
Kering SA [KER]FR734468.47343,8621.3
Merck & Co. Inc. [MRK]US4,27876.41326,8881.2
McDonald's Corp. [MCD]US1,807177.57320,8371.2
Splunk Inc. [SPLK]US2,864104.85300,2731.1
S&P Global Inc. [SPGI]US1,756169.94298,4691.1
Alexion Pharmaceuticals Inc. [ALXN]US3,05397.36297,2291.1
Red Hat Inc. [RHT]US1,673175.64293,8921.1
Goldman Sachs Group Inc. [GS]US1,754167.05292,9251.1
BioMarin Pharmaceutical Inc. [BMRN]US3,37785.15287,5471.1
PayPal Holdings Inc. [PYPL]US3,29784.09277,2111.0
Safran SA [SAF]FR2,284119.93273,9251.0
Intuitive Surgical Inc. [ISRG]US563478.92269,7611.0
Union Pacific Corp. [UNP]US1,923138.23265,8501.0
Crown Castle International Corp. [CCI]US2,426108.63263,5591.0
Booking Holdings Inc. [BKNG]US1521722.42261,2831.0
Activision Blizzard Inc. [ATVI]US5,45146.57253,8441.0
Albemarle Corp. [ALB]US2,96477.07228,4190.9
Bristol-Myers Squibb Co. [BMY]US4,18751.98217,6360.8
Adyen NV [ADYEN]NL369540.24199,5970.8
Chipotle Mexican Grill Inc. [CMG]US442431.79191,0610.7
Square Inc. [SQ]US3,33456.09187,0140.7
Servicenow Inc. [NOW]US982178.05174,9010.7
Edwards Lifesciences Corp. [EW]US938153.17143,7320.5
Celgene Corp. [CELG]US2,21364.09141,8110.5
Lululemon Athletica Inc. [LULU]CA1,135121.61138,0030.5
American Tower Corp. [AMT]US840158.19132,8680.5
Concho Resources Inc. [CXO]US1,215102.79124,8740.5
Farfetch Ltd. [FTCH]KY2,41817.7142,8170.2
Total26,489,68399.6
Cash and Other Assets Less Liabilities0.4
Total Net Assets100%

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

As of Quarter Ended 12/31/2018
Economic SectorHarbor Capital Appreciation Fund %Russell 1000® Growth Index %
Information Technology33.531.5
Consumer Discretionary20.715.1
Communication Services16.411.9
Health Care13.714.3
Industrials5.411.8
Financials3.84.4
Consumer Staples3.36.0
Real Estate1.52.3
Materials0.91.8
Energy0.50.8

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

As of Quarter Ended 12/31/2018
Sector ReturnsHarbor Capital Appreciation Fund %Russell 1000® Growth Index %
Cash0.70.0
Real Estate-1.1-1.8
Consumer Staples-12.1-6.8
Consumer Discretionary-14.1-17.2
Health Care-14.2-12.1
Industrials-16.0-16.6
Financials-16.5-11.9
Information Technology-17.2-18.8
Communication Services-18.8-17.3
Materials-22.5-12.0
Energy-32.7-28.8

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 1000® Growth Index is an unmanaged index generally representative of the U.S. market for larger capitalization growth stocks. This unmanaged index does not reflect fees and expenses and is not available for direct investment. The Russell 1000® Growth Index and Russell® are trademarks of Frank Russell Company.

The S&P 500 Index is an unmanaged index generally representative of the U.S. stock market. This unmanaged index does not reflect fees and expenses and is not available for direct investment.