Harbor Emerging Markets Equity Fund Institutional Class (HAEMX)

Portfolio Characteristics (As of Quarter Ended 06/30/2019)

Harbor Emerging Markets Equity FundMSCI Emerging Markets (ND) Index
Number of Holdings731,194
Weighted Avg. Market Cap ($Mil)94,303.0890,639.64
Median Market Cap ($Mil)12,374.986,299.37
Price/Book Ratio2.232.29
Adj. Trailing P/E Ratio15.3315.44
Forecasted P/E Ratio14.0713.84
Earnings Growth Rate (%)9.1014.73
Proj. Earnings Growth Rate (%)14.5511.68
Return on Equity (%)16.5516.41
Turnover (unannualized % since 10/31)38-
Beta vs. Fund Benchmark1.05-

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

Top Ten Holdings (As of Quarter Ended 06/30/2019)

Company Name [Ticker]% of Net Assets
Tencent Holdings Ltd. [700]6.9
Samsung Electronics Co. Ltd. [005930]5.4
Taiwan Semiconductor Manufacturing Co. Ltd. ADR [TSM]3.8
Ping An Insurance Group Co. of China Ltd. [2318]3.4
LUKOIL Pjsc ADR [LKOD]3.2
China Construction Bank Corp. [939]3.2
ICICI Bank Ltd. ADR [IBN]2.9
Petroleo Brasileiro SA ADR [PBR.A]2.6
Sberbank of Russia PJSC ADR [SBER]2.5
Itau Unibanco Holding SA ADR [ITUB]2.2
% of Total Holdings:36.1

Full Holdings (As of Quarter Ended 06/30/2019)

Company Name [Ticker]CountryShares (000's)Current Price ($)Market Value ($000's)% of Net Assets
Tencent Holdings Ltd. [700]CN15045.246,7906.9
Samsung Electronics Co. Ltd. [005930]KR13240.725,3945.4
Taiwan Semiconductor Manufacturing Co. Ltd. ADR [TSM]TW9739.173,7973.8
Ping An Insurance Group Co. of China Ltd. [2318]CN27812.023,3493.4
LUKOIL Pjsc ADR [LKOD]RU3884.543,1743.2
China Construction Bank Corp. [939]CN3,6780.863,1703.2
ICICI Bank Ltd. ADR [IBN]IN22712.592,8532.9
Petroleo Brasileiro SA ADR [PBR.A]BR18114.202,5692.6
Sberbank of Russia PJSC ADR [SBER]RU16215.412,4932.5
Itau Unibanco Holding SA ADR [ITUB]BR2309.422,1662.2
CNOOC Ltd. ADR [CEO]CN12170.352,0932.1
Reliance Industries Ltd. [RELIANCE]IN10918.161,9782.0
Bank Rakyat Indonesia Persero Tbk PT [BBRI]ID6,0590.311,8711.9
AngloGold Ashanti Ltd. ADR [AU]ZA10217.811,8241.8
China International Travel Service Corp. Ltd. [601888]CN13812.921,7811.8
Charoen Pokphand Foods PCL [CPF-F]TH1,9080.921,7581.8
Industrial & Commercial Bank of China Ltd. [1398]CN2,3960.731,7491.8
Azul SA ADR [AZUL]BR4833.441,6161.6
MediaTek Inc. [2454]TW15410.131,5601.6
Hana Financial Group Inc. [A086790]KR4732.411,5241.5
BRF SA ADR [BRFS]BR1947.601,4751.5
China Oilfield Services Ltd. [2883]CN1,4840.991,4721.5
MTN Group Ltd. [MTN]ZA1947.561,4691.5
UltraTech Cement Ltd. [ULTRACEMCO]IN2265.841,4481.5
Want Want China Holdings Ltd. [151]CN1,7680.811,4381.5
Wuliangye Yibin Co. Ltd. [000858]CN8217.221,4111.4
Guangzhou R&f Properties Co. Ltd. [2777]CN7131.921,3731.4
Anhui Conch Cement Co. Ltd. [914]CN2116.261,3201.3
Infosys Ltd. ADR [INFY]IN12310.701,3191.3
Galaxy Entertainment Group Ltd. [27]CN1876.731,2581.3
Semen Indonesia Persero Tbk PT [SMGR]ID1,4900.821,2211.2
Foschini Group Ltd. [TFG]ZA9512.811,2121.2
SK Hynix Inc. [A000660]KR2060.151,2081.2
Amorepacific Corp. [A090430]KR8142.851,1821.2
Samsung Heavy Industries Co. Ltd. [A010140]KR1637.081,1551.2
Shoprite Holdings Ltd. [SHP]ZA10111.181,1251.1
Alpha Bank AE [ALPHA]GR5592.001,1181.1
Grupo Financiero Banorte SAB de CV [GFNORTE O]MX1915.811,1111.1
Petroleo Brasileiro SA ADR [PBR]BR7015.571,0911.1
POSCO [A005490]KR5212.289671.0
China Merchants Bank Co. Ltd. [3968]CN1924.969551.0
Cemex SAB de CV ADR [CX]MX2214.249370.9
Shimao Property Holdings Ltd. [813]CN3073.059350.9
Geely Automobile Holdings Ltd. [175]CN5291.719070.9
OTP Bank plc [OTP]HU2239.828840.9
China Railway Group Ltd. [390]CN1,1410.768680.9
Ping An Bank Co. Ltd. [000001]CN4062.018160.8
Weibo Corp. ADR [WB]CN1843.557970.8
Ultrapar Participacoes SA [UGPA3]BR1505.237840.8
Wuxi Apptec Co. Ltd. [2359]CN888.777730.8
Yandex NV [YNDX]RU2038.007640.8
China Longyuan Power Group Corp. Ltd. [916]CN1,1600.647450.8
China Shenhua Energy Co. Ltd. [1088]CN3482.097280.7
Indiabulls Housing Finance Ltd. [IHFL]IN808.797010.7
Mmg Ltd. [1208]CN1,9690.356890.7
Jiangsu Hengrui Medicine Co. Ltd. [600276]CN719.636840.7
China Pacific Insurance Group Co. Ltd. [2601]CN1633.916380.6
Suofeiya Home Collection Co. Ltd. [002572]CN1982.715380.5
Truworths International Ltd. [TRU]ZA1084.965360.5
Thai Oil PCL [TOP-F]TH2442.175300.5
Hangzhou Hikvision Digital Technology Co. Ltd. [002415]CN1284.035150.5
Huya Inc. ADR [HUYA]CN1924.714790.5
Hangzhou Tigermed Consulting Co. Ltd. [300347]CN4011.234540.5
ICICI Prudential Life Insurance Co. Ltd. [ICICIPRULI]IN795.644440.4
S-Oil Corp. [A010950]KR572.633910.4
Ganfeng Lithium Co. Ltd. [1772]CN2521.373450.3
United Bank Ltd. [UBL]PK2330.922150.2
Glenmark Pharmaceuticals Ltd. [GLENMARK]IN326.412040.2
Ascletis Pharma Inc. [1672]CN1930.771490.2
Petra Diamonds Ltd. [PDL]ZA4920.251230.1
Beigene Ltd. ADR [BGNE]CN1123.951120.1
Jinxin Fertility Group Ltd. [1951]HK701.12790.1
Tianhe Chemicals Group Ltd. [1619]CN2,6840.0000.0
Total97,60198.3
Cash and Other Assets Less Liabilities1.7
Total Net Assets100%

Sector Allocation (As of Quarter Ended 06/30/2019)

As of Quarter Ended 06/30/2019
Economic SectorHarbor Emerging Markets Equity Fund %MSCI Emerging Markets (ND) Index %
Financials26.325.1
Energy15.07.9
Information Technology13.913.9
Communication Services10.411.7
Materials9.07.6
Consumer Staples8.56.6
Consumer Discretionary6.313.4
Industrials3.75.4
Health Care2.52.6
Real Estate2.33.0
Utilities0.82.7

Sector Returns (As of Quarter Ended 06/30/2019)

As of Quarter Ended 06/30/2019
Sector ReturnsHarbor Emerging Markets Equity Fund %MSCI Emerging Markets (ND) Index %
Consumer Staples7.93.3
Financials6.94.0
Industrials2.5-0.1
Materials2.3-1.2
Consumer Discretionary1.6-1.2
Information Technology1.0-0.1
Cash0.30.0
Communication Services-1.0-2.4
Health Care-1.9-6.6
Real Estate-3.4-0.2
Energy-5.81.4
Utilities-5.92.5

Country Allocation (As of Quarter Ended 06/30/2019)

As of Quarter Ended 06/30/2019
CountryHarbor Emerging Markets Equity Fund %MSCI Emerging Markets (ND) Index %
China39.731.6
South Korea11.912.4
Brazil9.87.6
India9.09.0
Russia6.54.0
South Africa6.45.9
Taiwan5.410.8
Indonesia3.12.1
Thailand2.33.0
Mexico2.12.5
Other3.811.1

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 Emerging Markets (ND) Index is a market capitalization weighted index of equity securities in more than 20 emerging market economies. This unmanaged index does not reflect fees and expenses and is not available for direct investment.