Harbor Global Leaders Fund Institutional Class (HGGAX)

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

Harbor Global Leaders FundMSCI All Country World (ND) Index
Number of Holdings362,758
Weighted Avg. Market Cap ($Mil)102,189.74131,476.80
Median Market Cap ($Mil)47,048.858,969.04
Price/Book Ratio5.332.73
Adj. Trailing P/E Ratio28.6217.76
Forecasted P/E Ratio23.5014.60
Earnings Growth Rate (%)19.0710.44
Proj. Earnings Growth Rate (%)14.3311.45
Return on Equity (%)23.8814.14
Turnover (unannualized % since 10/31)28-
Beta vs. Fund Benchmark1.01-

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
VISA Inc. [V]4.9
Safran SA [SAF]4.5
Alimentation Couche-Tard Inc. [ATD.B]4.2
HDFC Bank Ltd. ADR [HDB]4.1
Recruit Holdings Co. Ltd. [6098]3.8
TransDigm Group Inc. [TDG]3.8
Adobe Systems Inc. [ADBE]3.7
Zoetis Inc. [ZTS]3.6
Salesforce.com Inc. [CRM]3.6
Keyence Corp. [6861]3.5
% of Total Holdings:39.7

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

Company Name [Ticker]CountryShares (000's)Current Price ($)Market Value ($000's)% of Net Assets
VISA Inc. [V]US20131.942,6374.9
Safran SA [SAF]FR20119.932,4394.5
Alimentation Couche-Tard Inc. [ATD.B]CA4649.742,2674.2
HDFC Bank Ltd. ADR [HDB]IN21103.592,2224.1
Recruit Holdings Co. Ltd. [6098]JP8624.162,0693.8
TransDigm Group Inc. [TDG]US6340.062,0323.8
Adobe Systems Inc. [ADBE]US9226.242,0193.7
Zoetis Inc. [ZTS]US2385.541,9743.6
Salesforce.com Inc. [CRM]US14136.971,9523.6
Keyence Corp. [6861]JP4505.451,8853.5
Intercontinental Exchange Inc. [ICE]US2375.331,7343.2
Starbucks Corp. [SBUX]US2664.401,6793.1
Intuit Inc. [INTU]US8196.851,5993.0
Taiwan Semiconductor Manufacturing Co. Ltd. ADR [TSM]TW4336.911,5912.9
Alibaba Group Holding Ltd. ADR [BABA]CN12137.071,5832.9
Alphabet Inc. Class A [GOOGL]US11044.961,5572.9
Verisk Analytics Inc. [VRSK]US14109.041,5412.8
Dollar General Corp. [DG]US14108.081,5212.8
Nike Inc. [NKE]US1874.141,3642.5
Temenos Group AG [TEMN]CH10120.161,2472.3
Aptiv plc [APTV]US2061.571,2422.3
AIA Group Ltd. [1299]HK1448.311,1972.2
EssilorLuxottica SA [EL]FR9126.761,1632.2
Fomento Economico Mexicano SAB de CV ADR [FMX]MX1386.051,1272.1
Industria de Diseno Textil SA [ITX]ES4425.521,1112.1
UnitedHealth Group Inc. [UNH]US4249.121,0962.0
Ross Stores Inc. [ROST]US1383.201,0501.9
Equinix Inc. [EQIX]US3352.561,0401.9
Booking Holdings Inc. [BKNG]US11722.421,0251.9
Dassault Systemes SE [DSY]FR7118.788811.6
Don Quijote Holdings Co. Ltd. [7532]JP1461.838691.6
CSL Ltd. [CSL]AU6130.628291.5
Union Pacific Corp. [UNP]US6138.238041.5
Live Nation Entertainment Inc. [LYV]US1549.257221.3
Rightmove plc [RMV]GB1295.517101.3
Moody's Corp. [MCO]US5140.046481.2
Total52,42696.7
Cash and Other Assets Less Liabilities3.3
Total Net Assets100%

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

As of Quarter Ended 12/31/2018
Economic SectorHarbor Global Leaders Fund %MSCI All Country World (ND) Index %
Information Technology25.514.8
Consumer Discretionary23.310.4
Industrials16.410.3
Financials10.717.2
Health Care7.212.1
Consumer Staples6.38.4
Communication Services5.59.0
Real Estate1.93.2
Materials0.05.0
Energy0.06.2
Utilities0.03.4

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

As of Quarter Ended 12/31/2018
Sector ReturnsHarbor Global Leaders Fund %MSCI All Country World (ND) Index %
Financials1.1-11.9
Cash0.90.0
Energy0.0-20.2
Materials0.0-13.4
Utilities0.00.7
Consumer Staples-4.3-6.5
Consumer Discretionary-8.4-15.1
Real Estate-8.8-4.0
Communication Services-11.7-11.5
Health Care-14.7-9.6
Information Technology-15.5-17.1
Industrials-15.7-15.6

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

As of Quarter Ended 12/31/2018
CountryHarbor Global Leaders Fund %MSCI All Country World (ND) Index %
United States54.154.4
Japan8.97.6
France8.33.4
Canada4.22.9
India4.11.1
Taiwan2.91.3
China2.93.6
Switzerland2.32.7
Hong Kong2.21.2
Mexico2.10.3
Other8.021.5

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 AC (All Country) World (ND) Index is a free float-adjusted market capitalization weighted index that is designed to measure the equity market performance of developed and emerging markets. This unmanaged index does not reflect fees and expenses and is not available for direct investment.