Harbor Mid Cap Value Fund Institutional Class (HAMVX)

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

Harbor Mid Cap Value FundRussell Midcap® Value Index
Number of Holdings187592
Weighted Avg. Market Cap ($Mil)10,128.0212,896.62
Median Market Cap ($Mil)4,273.126,598.25
Price/Book Ratio1.531.92
Adj. Trailing P/E Ratio11.8417.69
Forecasted P/E Ratio8.8014.60
Earnings Growth Rate (%)10.859.06
Proj. Earnings Growth Rate (%)8.259.82
Return on Equity (%)13.0810.34
Turnover (unannualized % since 10/31)5-
Beta vs. Fund Benchmark1.09-

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
Entergy Corp. [ETR]2.2
FirstEnergy Corp. [FE]2.0
Kroger Co. [KR]1.4
Eastman Chemical Co. [EMN]1.3
Juniper Networks Inc. [JNPR]1.3
Cummins Inc. [CMI]1.3
LAM Research Corp. [LRCX]1.3
United Continental Holdings Inc. [UAL]1.3
Regions Financial Corp. [RF]1.2
SunTrust Banks Inc. [STI]1.2
% of Total Holdings:14.5

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

Company Name [Ticker]CountryShares (000's)Current Price ($)Market Value ($000's)% of Net Assets
Entergy Corp. [ETR]US21086.0718,0402.2
FirstEnergy Corp. [FE]US43637.5516,3642.0
Kroger Co. [KR]US40827.5011,2341.4
Eastman Chemical Co. [EMN]US15173.1111,0101.3
Juniper Networks Inc. [JNPR]US40526.9110,9011.3
Cummins Inc. [CMI]US81133.6410,7851.3
LAM Research Corp. [LRCX]US77136.1710,4581.3
United Continental Holdings Inc. [UAL]US12483.7310,4161.3
Regions Financial Corp. [RF]US73913.389,8931.2
SunTrust Banks Inc. [STI]US19550.449,8511.2
Ameriprise Financial Inc. [AMP]US92104.379,5921.2
Lincoln National Corp. [LNC]US18051.319,2261.1
Kohl's Corp. [KSS]US13566.348,9361.1
Discover Financial Services [DFS]US15058.988,8591.1
OMEGA Healthcare Investors Inc. [OHI]US25235.158,8401.1
Celanese Corp. [CE]US9889.978,8081.1
Spirit Aerosystems Holdings Inc. [SPR]US12272.098,7591.1
Medical Properties Trust Inc. [MPW]US53516.088,6061.0
Valero Energy Corp. [VLO]US10874.978,1041.0
Citizens Financial Group Inc. [CFG]US26829.737,9621.0
Fifth Third Bancorp [FITB]US32823.537,7150.9
Huntington Ingalls Industries Inc. [HII]US40190.317,7000.9
Tyson Foods Inc. [TSN]US14453.407,6790.9
HCA Healthcare Inc. [HCA]US61124.457,5420.9
KeyCorp [KEY]US49514.787,3190.9
Everest Re Group Ltd. [RE]BM33217.767,2730.9
On Semiconductor Corp. [ON]US41016.516,7670.8
Piedmont Office Realty Trust Inc. [PDM]US39617.046,7390.8
Zions Bancorporation [ZION]US16540.746,7180.8
Hartford Financial Services Group Inc. [HIG]US15144.456,7030.8
JM Smucker Co. [SJM]US7193.496,6470.8
Scana Corp. [SCG]US13747.786,5380.8
Brinker International Inc. [EAT]US14843.986,4870.8
Whirlpool Corp. [WHR]US60106.876,3690.8
AMC Networks Inc. [AMCX]US11654.886,3440.8
Molson Coors Brewing Co. [TAP]US11056.166,2060.8
Jazz Pharmaceuticals plc [JAZZ]IE50123.966,1860.8
Host Hotels & Resorts Inc. [HST]US37116.676,1850.8
JetBlue Airways Corp. [JBLU]US37516.066,0260.7
Lexington Realty Trust [LXP]US7348.216,0220.7
Foot Locker Inc. [FL]US11153.205,9160.7
Allstate Corp. [ALL]US7182.635,8500.7
PPL Corp. [PPL]US20528.335,8150.7
Lear Corp. [LEA]US46122.865,6880.7
Public Service Enterprise Group Inc. [PEG]US10952.055,6580.7
Goodyear Tire & Rubber Co. [GT]US27720.415,6580.7
American Airlines Group Inc. [AAL]US17632.115,6420.7
Huntsman Corp. [HUN]US29019.295,5880.7
Reliance Steel & Aluminum Co. [RS]US7871.175,5870.7
Seagate Technology plc [STX]IE14438.595,5490.7
PBF Energy Inc. [PBF]US16432.675,3480.7
Best Buy Co. Inc. [BBY]US10152.965,3330.6
Old Republic International Corp. [ORI]US25420.575,2310.6
CIT Group Inc. [CIT]US13538.275,1590.6
Manpowergroup Inc. [MAN]US7964.805,1450.6
HP Inc. [HPQ]US24220.464,9580.6
Ingredion Inc. [INGR]US5491.404,9540.6
Corning Inc. [GLW]US16330.214,9120.6
General Mills Inc. [GIS]US12638.944,9030.6
Voya Financial Inc. [VOYA]US12040.144,8250.6
Senior Housing Properties Trust [SNH]US41111.724,8180.6
PulteGroup Inc. [PHM]US18325.994,7680.6
Vereit Inc. [VER]US6637.154,7400.6
Aflac Inc. [AFL]US10445.564,7250.6
Hospitality Properties Trust [HPT]US19823.884,7190.6
Annaly Capital Management Inc. [NLY]US4799.824,7040.6
Edison International [EIX]US8256.774,6780.6
Marathon Petroleum Corp. [MPC]US7959.014,6380.6
NCR Corp. [NCR]US19823.084,5610.6
Owens-Illinois Inc. [OI]US26117.244,4990.5
Macy's Inc. [M]US15129.784,4850.5
Allison Transmission Holdings Inc. [ALSN]US10143.914,4170.5
Toll Brothers Inc. [TOL]US13432.934,3960.5
Gap Inc. [GPS]US17025.764,3920.5
NetApp Inc. [NTAP]US7359.674,3500.5
Autonation Inc. [AN]US12135.704,3200.5
Wabash National Corp. [WNC]US32713.084,2820.5
Snap-on Inc. [SNA]US29145.294,2570.5
Cardinal Health Inc. [CAH]US9544.604,2190.5
Xenia Hotels & Resorts Inc. [XHR]US24517.204,2090.5
DXC Technology Co. [DXC]US7853.174,1260.5
Oshkosh Corp. [OSK]US6761.314,1140.5
Unum Group [UNM]US13929.384,0840.5
Applied Materials Inc. [AMAT]US12332.744,0340.5
Lazard Ltd. [LAZ]BM10836.914,0010.5
Western Digital Corp. [WDC]US10636.973,9260.5
Western Union Co. [WU]US22817.063,8910.5
Group 1 Automotive Inc. [GPI]US7452.723,8850.5
Spirit Realty Capital Inc. [SRC]US11035.253,8800.5
HollyFrontier Corp. [HFC]US7551.123,8190.5
Xerox Corp. [XRX]US19019.763,7520.5
Gaming And Leisure Properties Inc. [GLPI]US11432.313,6770.4
Murphy USA Inc. [MUSA]US4876.643,6480.4
Dick's Sporting Goods Inc. [DKS]US11731.203,6410.4
Nelnet Inc. [NNI]US6952.343,6250.4
WestRock Co. [WRK]US9637.763,6210.4
PennyMac Mortgage Investment Trust [PMT]US19118.623,5620.4
Regal Beloit Corp. [RBC]US5170.053,5450.4
Principal Financial Group Inc. [PFG]US7944.173,4890.4
Domtar Corp. [UFS]US9935.133,4640.4
Tech Data Corp. [TECD]US4281.813,4200.4
American Financial Group Inc. [AFG]US3890.533,4040.4
Assured Guaranty Ltd. [AGO]BM8838.283,3840.4
Raymond James Financial Inc. [RJF]US4574.413,3780.4
Owens Corning [OC]US7743.983,3690.4
Alaska Air Group Inc. [ALK]US5560.853,3350.4
Hersha Hospitality Trust [HT]US18917.543,3100.4
Mack-Cali Realty Corp. [CLI]US16719.593,2640.4
Trinseo SA [TSE]LU7045.783,2230.4
MGIC Investment Corp. [MTG]US30710.463,2080.4
Site Centers Corp. [SITC]US28611.073,1680.4
Chemours Co. [CC]US11228.223,1640.4
Franklin Street Properties Corp. [FSP]US5086.233,1640.4
Atlas Air Worldwide Holdings Inc. [AAWW]US7442.193,1310.4
Harley-Davidson Inc. [HOG]US9234.123,1250.4
Amkor Technology Inc. [AMKR]US4756.563,1160.4
Ally Financial Inc. [ALLY]US13722.663,0980.4
Legg Mason Inc. [LM]US12125.513,0940.4
Penske Automotive Group Inc. [PAG]US7740.323,0930.4
Dillard's Inc. [DDS]US5160.313,0640.4
Radian Group Inc. [RDN]US18616.363,0410.4
Universal Insurance Holdings Inc. [UVE]US8037.923,0410.4
Brunswick Corp. [BC]US6546.453,0330.4
Ryder System Inc. [R]US6348.153,0240.4
Brixmor Property Group Inc. [BRX]US20514.693,0130.4
Outfront Media Inc. [OUT]US16618.123,0090.4
Cabot Corp. [CBT]US6942.942,9630.4
Newfield Exploration Co. [NFX]US20014.662,9280.4
Cirrus Logic Inc. [CRUS]US8533.182,8170.3
Sabra Health Care REIT Inc. [SBRA]US17016.482,8070.3
Viacom Inc. [VIAB]US10925.702,7960.3
Vishay Intertechnology Inc. [VSH]US15418.012,7770.3
Archer Daniels Midland Co. [ADM]US6840.972,7650.3
Avnet Inc. [AVT]US7636.102,7580.3
Meritor Inc. [MTOR]US16216.912,7380.3
Carrizo Oil & Gas Inc. [CRZO]US24011.292,7110.3
National Health Investors Inc. [NHI]US3675.542,7040.3
Summit Hotel Properties Inc. [INN]US2779.732,6980.3
Axis Capital Holdings Ltd. [AXS]BM5251.642,6800.3
BorgWarner Inc. [BWA]US7634.742,6580.3
Big Lots Inc. [BIG]US9228.922,6490.3
Mylan NV [MYL]NL9327.402,5620.3
Gannett Co. Inc. [GCI]US2918.532,4810.3
Invesco Mortgage Capital Inc. [IVR]US17114.482,4760.3
Timken Co. [TKR]US6537.322,4150.3
Meritage Homes Corp. [MTH]US6536.722,3940.3
AGCO Corp. [AGCO]US4255.672,3660.3
Gulfport Energy Corp. [GPOR]US3566.552,3290.3
Michael Kors Holdings Ltd. [KORS]US6137.922,3090.3
Magellan Health Inc. [MGLN]US4056.892,2790.3
SRC Energy Inc. [SRCI]US4744.702,2280.3
Briggs & Stratton Corp. [BGG]US17013.082,2260.3
Prospect Capital Corp. [PSEC]US3296.312,0780.3
Banco Latinoamericano de Comercio Exterior SA [BLX]PA12017.302,0760.3
Cooper-Standard Holdings Inc. [CPS]US3362.122,0440.2
Triton International Ltd. [TRTN]BM6631.072,0390.2
Two Harbors Investment Corp. [TWO]US15812.842,0290.2
MFA Financial Inc. [MFA]US2986.681,9930.2
Navient Corp. [NAVI]US2258.811,9840.2
Aircastle Ltd. [AYR]BM11417.241,9580.2
TTM Technologies Inc. [TTMI]US1969.731,9090.2
Tenneco Inc. [TEN]US6827.391,8760.2
Methode Electronics Inc. [MEI]US7923.291,8440.2
Pitney Bowes Inc. [PBI]US3055.911,8020.2
Ethan Allen Interiors Inc. [ETH]US10117.591,7850.2
Office Depot Inc. [ODP]US6782.581,7490.2
Ingles Markets Inc. [IMKTA]US6227.221,6930.2
TEGNA Inc. [TGNA]US14410.871,5660.2
Government Properties Income Trust [GOV]US2116.871,4500.2
McDermott International Inc. [MDR]PA2106.541,3730.2
American Axle & Manufacturing Holdings Inc. [AXL]US11811.101,3120.2
Laredo Petroleum Inc. [LPI]US3583.621,2940.2
Synnex Corp. [SNX]US1480.841,1310.1
GameStop Corp. [GME]US8912.621,1240.1
Bed Bath & Beyond Inc. [BBBY]US9311.321,0500.1
Retail Value Inc. [RVI]US2925.597320.1
CBL & Associates Properties Inc. [CBL]US2861.925500.1
Wyndham Destinations Inc. [WYND]US1535.845470.1
Lannett Co. Inc. [LCI]US1104.965460.1
Granite Point Mortgage Trust Inc. [GPMT]US3018.035400.1
Owens & Minor Inc. [OMI]US736.334620.1
Maiden Holdings Ltd. [MHLD]BM2511.654140.1
Spirit MTA REIT [SMTA]US557.133920.0
RR Donnelley & Sons Co. [RRD]US553.962190.0
Lsc Communications Inc. [LKSD]US217.001450.0
A. Schulman Inc.US101.91190.0
Total809,40198.4
Cash and Other Assets Less Liabilities1.6
Total Net Assets100%

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

As of Quarter Ended 12/31/2018
Economic SectorHarbor Mid Cap Value Fund %Russell Midcap® Value Index %
Financials22.217.5
Consumer Discretionary13.68.8
Industrials12.711.9
Real Estate11.314.2
Information Technology11.28.4
Utilities7.012.0
Materials6.36.2
Consumer Staples5.65.2
Energy4.25.7
Health Care2.96.8
Communication Services1.63.3

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

As of Quarter Ended 12/31/2018
Sector ReturnsHarbor Mid Cap Value Fund %Russell Midcap® Value Index %
Utilities3.8-1.4
Cash0.60.0
Consumer Staples-9.3-10.3
Real Estate-12.1-6.3
Consumer Discretionary-16.1-17.7
Communication Services-17.0-17.2
Information Technology-17.9-17.2
Industrials-18.2-17.7
Financials-18.4-15.9
Health Care-19.6-16.1
Materials-24.8-15.8
Energy-40.5-35.3

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