Harbor Small Cap Value Fund Institutional Class (HASCX)

Portfolio Characteristics (As of Quarter Ended 03/31/2019)

Harbor Small Cap Value FundRussell 2000® Value Index
Number of Holdings601,366
Weighted Avg. Market Cap ($Mil)3,781.042,079.65
Median Market Cap ($Mil)2,637.85688.11
Price/Book Ratio2.381.51
Adj. Trailing P/E Ratio18.8814.22
Forecasted P/E Ratio15.7514.25
Earnings Growth Rate (%)10.858.30
Proj. Earnings Growth Rate (%)11.3010.09
Return on Equity (%)13.688.56
Turnover (unannualized % since 10/31)22-
Beta vs. Fund Benchmark0.90-

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

Top Ten Holdings (As of Quarter Ended 03/31/2019)

Company Name [Ticker]% of Net Assets
Hexcel Corp. [HXL]3.6
Teledyne Technologies Inc. [TDY]3.1
Firstcash Inc. [FCFS]3.0
Cabot Microelectronics Corp. [CCMP]2.6
Franklin Electric Co. Inc. [FELE]2.3
Catalent Inc. [CTLT]2.3
Darling Ingredients Inc. [DAR]2.3
OSI Systems Inc. [OSIS]2.2
Monolithic Power Systems Inc. [MPWR]2.2
Albany International Corp. [AIN]2.2
% of Total Holdings:25.8

Full Holdings (As of Quarter Ended 03/31/2019)

Company Name [Ticker]CountryShares (000's)Current Price ($)Market Value ($000's)% of Net Assets
Hexcel Corp. [HXL]US74869.1651,7343.6
Teledyne Technologies Inc. [TDY]US187237.0144,3973.1
Firstcash Inc. [FCFS]US50086.5043,2183.0
Cabot Microelectronics Corp. [CCMP]US340111.9638,0742.6
Franklin Electric Co. Inc. [FELE]US65851.0933,6202.3
Catalent Inc. [CTLT]US82840.5933,6012.3
Darling Ingredients Inc. [DAR]US1,55121.6533,5782.3
OSI Systems Inc. [OSIS]US37387.6032,6652.2
Monolithic Power Systems Inc. [MPWR]US239135.4932,4292.2
Albany International Corp. [AIN]US45071.5932,2042.2
EastGroup Properties Inc. [EGP]US284111.6431,7112.2
Littelfuse Inc. [LFUS]US167182.4830,5632.1
Reinsurance Group of America Inc. [RGA]US215141.9830,5382.1
Entegris Inc. [ENTG]US84635.6930,1912.1
EnerSys [ENS]US43565.1628,3532.0
GATX Corp. [GATX]US36776.3728,0451.9
Molina Healthcare Inc. [MOH]US195141.9627,6321.9
Meritage Homes Corp. [MTH]US61244.7127,3731.9
Wolverine World Wide Inc. [WWW]US76335.7327,2531.9
Snap-on Inc. [SNA]US174156.5227,1701.9
Sanmina Corp. [SANM]US92828.8526,7721.8
Casella Waste Systems Inc. [CWST]US73835.5626,2381.8
FLIR Systems Inc. [FLIR]US54547.5825,9261.8
Timken Co. [TKR]US57943.6225,2741.7
Raymond James Financial Inc. [RJF]US31080.4124,9331.7
ManTech International Corp. [MANT]US45754.0224,6671.7
Mueller Water Products Inc. [MWA]US2,37410.0423,8321.6
FormFactor Inc. [FORM]US1,45016.0923,3251.6
Scotts Miracle-Gro Co. [SMG]US29378.5823,0321.6
United Bankshares Inc. [UBSI]US63236.2422,9051.6
Trustmark Corp. [TRMK]US67733.6322,7591.6
Pebblebrook Hotel Trust [PEB]US71131.0622,0741.5
Moog Inc. [MOG.A]US24686.9521,4021.5
Coherent Inc. [COHR]US148141.7221,0101.4
Medical Properties Trust Inc. [MPW]US1,12118.5120,7481.4
Wesbanco Inc. [WSBC]US51939.7520,6251.4
Cadence Bancorp [CADE]US1,09618.5520,3311.4
South Jersey Industries Inc. [SJI]US61632.0719,7431.4
United Fire Group Inc. [UFCS]US44943.7119,6131.4
South State Corp. [SSB]US28168.3419,1831.3
Pdc Energy Inc. [PDCE]US46540.6818,9211.3
Altra Industrial Motion Corp. [AIMCV]US60331.0518,7291.3
American Equity Investment Life Holding Co. [AEL]US68527.0218,4991.3
Triumph Group Inc. [TGI]US95319.0618,1721.3
Heartland Financial USA Inc. [HTLF]US42242.6517,9791.2
Stifel Financial Corp. [SF]US33852.7617,8521.2
Welbilt Inc. [WBT]US99616.3816,3221.1
Anixter International Inc. [AXE]US28356.1115,8741.1
Steelcase Inc. [SCS]US1,08314.5515,7581.1
Cabot Corp. [CBT]US37141.6315,4521.1
Horace Mann Educators Corp. [HMN]US40435.2114,2251.0
Core Laboratories NV [CLB]NL20568.9314,1581.0
Eaton Vance Corp. [EV]US33840.3113,6400.9
Enterprise Financial Services Corp. [EFSC]US33140.7713,4950.9
Advanced Energy Industries Inc. [AEIS]US26549.6813,1560.9
Oil States International Inc. [OIS]US66516.9611,2850.8
Whiting Petroleum Corp. [WLL]US39626.1410,3540.7
State Auto Financial Corp. [STFC]US23532.927,7300.5
United Natural Foods Inc. [UNFI]US37213.224,9180.3
Emergent Biosolutions Inc. [EBS]US5050.522,5160.2
Total1,397,77696.2
Cash and Other Assets Less Liabilities3.8
Total Net Assets100%

Sector Allocation (As of Quarter Ended 03/31/2019)

As of Quarter Ended 03/31/2019
Economic SectorHarbor Small Cap Value Fund %Russell 2000® Value Index %
Industrials28.311.3
Financials22.528.2
Information Technology21.711.5
Real Estate5.112.4
Health Care4.44.3
Energy3.85.7
Consumer Discretionary3.89.2
Consumer Staples2.62.6
Materials2.64.3
Utilities1.47.3
Communication Services0.03.2

Sector Returns (As of Quarter Ended 03/31/2019)

As of Quarter Ended 03/31/2019
Sector ReturnsHarbor Small Cap Value Fund %Russell 2000® Value Index %
Energy23.018.6
Health Care18.39.1
Real Estate17.316.9
Consumer Discretionary16.98.4
Utilities16.410.6
Information Technology15.619.4
Industrials14.710.1
Consumer Staples14.37.8
Materials14.116.8
Financials7.38.0
Cash0.60.0
Communication Services0.014.4

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® Value Index is an unmanaged index representing the smallest 2000 stocks with the lowest 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® Value Index and Russell® are trademarks of Frank Russell Company.