Harbor International Growth Fund Institutional Class (HAIGX)

Portfolio Characteristics (As of Quarter Ended 09/30/2019)

Harbor International Growth FundMSCI All Country World Ex. US (ND) Index
Number of Holdings782,215
Weighted Avg. Market Cap ($Mil)45,873.6668,929.84
Median Market Cap ($Mil)16,171.377,741.02
Price/Book Ratio5.572.04
Adj. Trailing P/E Ratio29.9316.01
Forecasted P/E Ratio24.7714.82
Earnings Growth Rate (%)12.679.55
Proj. Earnings Growth Rate (%)12.758.71
Return on Equity (%)17.6413.07
Turnover (unannualized % since 10/31)16-
Beta vs. Fund Benchmark1.07-

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

Top Ten Holdings (As of Quarter Ended 09/30/2019)

Company Name [Ticker]% of Net Assets
Taiwan Semiconductor Manufacturing Co. Ltd. ADR [TSM]2.8
Alibaba Group Holding Ltd. ADR [BABA]2.6
Shiseido Co. Ltd. [4911]2.5
Hargreaves Lansdown plc [HL.]2.5
Cochlear Ltd. [COH]2.2
Shopify Inc. [SHOP]2.2
Rightmove plc [RMV]2.0
AIA Group Ltd. [1299]2.0
MS&AD Insurance Group Holdings Inc. [8725]2.0
Asian Paints Ltd. [ASIANPAINT]2.0
% of Total Holdings:22.8

Full Holdings (As of Quarter Ended 09/30/2019)

Company Name [Ticker]CountryShares (000's)Current Price ($)Market Value ($000's)% of Net Assets
Taiwan Semiconductor Manufacturing Co. Ltd. ADR [TSM]TW34246.4815,8752.8
Alibaba Group Holding Ltd. ADR [BABA]CN86167.2314,3102.6
Shiseido Co. Ltd. [4911]JP17780.2614,2142.5
Hargreaves Lansdown plc [HL.]GB55525.5314,1582.5
Cochlear Ltd. [COH]AU89140.7212,4602.2
Shopify Inc. [SHOP]CA39311.6612,0872.2
Rightmove plc [RMV]GB1,6556.7711,1992.0
AIA Group Ltd. [1299]HK1,1719.4311,0422.0
MS&AD Insurance Group Holdings Inc. [8725]JP33832.5010,9772.0
Asian Paints Ltd. [ASIANPAINT]IN43924.9110,9302.0
ASML Holding NV [ASML]NL44248.0110,8861.9
Housing Development Finance Corp. Ltd. [HDFC]IN37627.9110,4981.9
Industria de Diseno Textil SA [ITX]ES33430.9510,3281.8
SMC Corp. [6273]JP24429.8310,2301.8
United Overseas Bank Ltd. [U11]SG53218.599,8901.8
Zalando Se [ZAL]DE21545.669,8371.8
Naspers Ltd. [NPNJ]ZA65151.419,7681.7
Adidas AG [ADS]DE31311.279,7001.7
Mettler-Toledo International Inc. [MTD]CH13704.409,4371.7
Tsingtao Brewery Co. Ltd. [168]CN1,5526.039,3641.7
Novozymes AS [NZYM B]DK21842.069,1791.6
Olympus Corp. [7733]JP67713.559,1771.6
Sysmex Corp. [6869]JP13467.189,0021.6
CIE Financiere Richemont SA [RITN]CH11973.298,7331.6
Schindler Holding AG [SHRQ]CH39223.798,6961.6
Bechtle AG [BC8]DE84101.788,5701.5
Nidec Corp. [6594]JP63135.428,5181.5
Auto Trader Group plc [AUTO]GB1,3446.278,4251.5
Raia Drogasil SA [RADL3]BR36223.068,3591.5
Investor AB Class B [INVE B_SEK]SE16948.848,2611.5
Legrand SA [LR]FR11371.348,0511.4
Sartorius AG [SRT3]DE44182.317,9561.4
Murata Manufacturing Co. Ltd. [6981]JP15648.477,5751.4
Jeronimo Martins SGPS SA [JMT]PT43716.867,3621.3
Kingspan Group plc [KRX]IE15048.807,3351.3
Kone OYJ [KNEBV]FI12756.917,2021.3
Intertek Group plc [ITRK]GB10667.317,1391.3
Trainline plc [TRN]GB1,3705.157,0571.3
Kakaku.com Inc. [2371]JP28024.706,9241.2
Treasury Wine Estates Ltd. [TWE]AU55012.556,9051.2
Shimano Inc. [7309]JP45151.106,7541.2
Infineon Technologies AG [IFX]DE35317.976,3391.1
Keyence Corp. [6861]JP10622.466,1621.1
Burberry Group plc [BRBY]GB23026.716,1451.1
Johnson Matthey plc [JMAT]GB16137.566,0531.1
SEEK Ltd [SEK]AU41514.516,0211.1
KAO Corp. [4452]JP7874.185,7861.0
Techtronic Industries Co. Ltd. [669]HK8256.965,7421.0
Ping An Insurance Group Co. of China Ltd. [2318]CN49411.495,6781.0
Pigeon Corp. [7956]JP13641.415,6481.0
Homeserve plc [HSV]GB37514.585,4731.0
Nibe Industrier AB [NIBE B_SEK]SE41812.675,2950.9
Spotify Technology SA [SPOT]SE44114.005,0390.9
Fairfax Financial Holdings Ltd. [FFH]CA11440.804,8880.9
Softbank Group Corp. [9984]JP12239.464,8180.9
Atlas Copco AB Class A [ATCOA]SE15530.794,7730.9
Prosus NV [PRX]NL6573.414,7360.8
Jardine Strategic Holdings Ltd. [J37]SG15529.914,6450.8
Public Bank BHD [PBBANK]MY9434.794,5220.8
Epiroc AB Class B [EPI B]SE42510.324,3900.8
United Spirits Ltd. [UNSP]IN4659.414,3750.8
Denso Corp. [6902]JP9844.194,3170.8
Atlas Copco AB Class B [ATCO B]SE15627.084,2290.8
Ctrip.com International Ltd. ADR [CTRP]CN14229.294,1670.7
Mahindra & Mahindra Ltd. GDR [MHID]IN5257.764,0710.7
Baidu Inc. ADR [BIDU]CN39102.764,0300.7
Weir Group plc [WEIR]GB20417.523,5710.6
Wal-Mart de Mexico SAB de CV [WALMEX *]MX1,2042.963,5700.6
Jupiter Fund Management plc [JUP]GB8064.373,5220.6
Thai Beverage PCL [Y92]TH5,1580.643,3030.6
Naver Corp. [035420]KR25131.173,2210.6
Sugi Holdings Co. Ltd. [7649]JP5754.273,0880.6
John Wood Group plc [WG.]GB6404.662,9850.5
Asos plc [ASC]GB7830.452,3830.4
Jardine Matheson Holdings Ltd. [J36]SG4253.522,2260.4
MakeMyTrip Ltd. [MMYT]MU9422.692,1420.4
Epiroc AB Class A [EPI A]SE15210.831,6440.3
U-Blox Holding AG [3BG]CH1472.201,0190.2
Total554,38698.9
Cash and Other Assets Less Liabilities1.1
Total Net Assets100%

Sector Allocation (As of Quarter Ended 09/30/2019)

As of Quarter Ended 09/30/2019
Economic SectorHarbor International Growth Fund %MSCI All Country World Ex. US (ND) Index %
Industrials18.811.9
Consumer Discretionary18.611.4
Financials14.921.6
Consumer Staples12.810.2
Information Technology12.28.9
Health Care8.68.5
Communication Services7.86.8
Materials4.77.3
Energy0.56.7
Real Estate0.03.2
Utilities0.03.5

Sector Returns (As of Quarter Ended 09/30/2019)

As of Quarter Ended 09/30/2019
Sector ReturnsHarbor International Growth Fund %MSCI All Country World Ex. US (ND) Index %
Cash6.90.0
Consumer Staples6.51.5
Information Technology6.22.2
Materials1.9-6.5
Real Estate0.0-3.1
Utilities0.01.3
Health Care-2.81.1
Consumer Discretionary-2.9-0.7
Communication Services-3.6-2.9
Industrials-3.7-2.5
Financials-4.3-3.6
Energy-16.5-4.6

Country Allocation (As of Quarter Ended 09/30/2019)

As of Quarter Ended 09/30/2019
CountryHarbor International Growth Fund %MSCI All Country World Ex. US (ND) Index %
Japan20.216.5
United Kingdom13.921.9
Germany7.65.7
China6.78.3
Sweden6.01.7
India5.32.3
Switzerland5.06.3
Australia4.54.7
Canada3.07.0
Hong Kong3.02.4
Other24.823.2

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 All Country World Ex. U.S. (ND) Index is a free float-adjusted market capitalization weighted index that is designed to measure equity market performance in the global developed and emerging markets, excluding the United States. This unmanaged index does not reflect fees and expenses and is not available for direct investment.