Harbor Small Cap Growth Opportunities Fund Institutional Class (HASOX)

Portfolio Characteristics (As of Quarter Ended 12/31/2017)

Harbor Small Cap Growth Opportunities FundRussell 2000® Growth Index
Number of Holdings1021,175
Weighted Avg. Market Cap ($Mil)1,900.502,639.78
Median Market Cap ($Mil)1,534.861,007.26
Price/Book Ratio3.764.55
Adj. Trailing P/E Ratio23.0624.24
Forecasted P/E Ratio22.7621.93
Earnings Growth Rate (%)4.4511.36
Proj. Earnings Growth Rate (%)17.8015.84
Return on Equity (%)5.5111.31
Turnover (unannualized % since 10/31)12-
Beta vs. Fund Benchmark1.07-

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

Top Ten Holdings (As of Quarter Ended 12/31/2017)

Company Name [Ticker]% of Net Assets
Maxlinear Inc. [MXL]3.1
Interxion Holding NV [INXN]3.1
Sarepta Therapeutics Inc. [SRPT]2.2
WNS Holdings Ltd. ADR [WNS]2.1
Chegg Inc. [CHGG]1.8
Blackhawk Network Holdings Inc. [HAWK]1.7
Pacira Pharmaceuticals Inc. [PCRX]1.7
Wageworks Inc. [WAGE]1.7
Vocera Communications Inc. [VCRA]1.6
Exact Sciences Corp. [EXAS]1.6
% of Total Holdings:20.6

Full Holdings (As of Quarter Ended 12/31/2017)

Company Name [Ticker]CountryShares (000's)Current Price ($)Market Value ($000's)% of Net Assets
Maxlinear Inc. [MXL]US34426.429,0753.1
Interxion Holding NV [INXN]NL15358.938,9913.1
Sarepta Therapeutics Inc. [SRPT]US11855.646,5782.2
WNS Holdings Ltd. ADR [WNS]IN15440.136,1992.1
Chegg Inc. [CHGG]US32616.325,3231.8
Blackhawk Network Holdings Inc. [HAWK]US14235.655,0511.7
Pacira Pharmaceuticals Inc. [PCRX]US11145.655,0501.7
Wageworks Inc. [WAGE]US7962.004,9001.7
Vocera Communications Inc. [VCRA]US15130.224,5571.6
Exact Sciences Corp. [EXAS]US8752.544,5461.6
Evolent Health Inc. [EVH]US36512.304,4841.5
Quotient Technology Inc. [QUOT]US37911.754,4481.5
Dycom Industries Inc. [DY]US38111.434,2241.4
Korn/Ferry International [KFY]US9641.383,9691.4
Electronics For Imaging Inc. [EFII]US13229.533,8931.3
Synchronoss Technologies Inc. [SNCR]US4238.943,7831.3
Cerus Corp. [CERS]US1,1113.383,7541.3
Invacare Corp. [IVC]US22216.853,7431.3
National General Holdings Corp. [NGHC]US19019.643,7321.3
Teladoc Inc. [TDOC]US10634.853,6991.3
Churchill Downs Inc. [CHDN]US16232.703,6821.3
Saia Inc. [SAIA]US5170.753,6251.2
Callidus Software Inc. [CALD]US12528.653,5691.2
Beacon Roofing Supply Inc. [BECN]US5563.763,5301.2
NN Inc. [NNBR]US12427.603,4161.2
Gogo Inc. [GOGO]US29511.283,3301.1
Wright Medical Group NV [WMGI]NL14922.203,3121.1
Medicines Co. [MDCO]US12027.343,2921.1
Planet Fitness Inc. [PLNT]US9534.633,2861.1
Vasco Data Security International Inc. [VDSI]US23413.903,2531.1
Camping World Holdings Inc. [CWH]US7244.733,2181.1
Century Communities Inc. [CCS]US10331.103,2101.1
World Wrestling Entertainment Inc. [WWE]US10530.583,2001.1
Inphi Corp. [IPHI]US8736.603,1681.1
Ligand Pharmaceuticals Inc. [LGND]US23136.933,1531.1
On Assignment Inc. [ASGN]US4864.273,0801.1
Cryolife Inc. [CRY]US15819.153,0251.0
Iridium Communications Inc. [IRDM]US25611.803,0231.0
Innerworkings Inc. [INWK]US29310.032,9341.0
Rexnord Corp. [RXN]US10726.022,7800.9
NutriSystem Inc. [NTRI]US5352.602,7770.9
Playa Hotels & Resorts NV [PLYA]NL25510.792,7550.9
REV Group Inc. [REVG]US8032.532,6170.9
Echo Global Logistics Inc. [ECHO]US9328.002,5980.9
Green Dot Corp. [GDOT]US4360.262,5790.9
LendingTree Inc. [TREE]US8340.452,5780.9
Atlas Air Worldwide Holdings Inc. [AAWW]US4458.652,5680.9
Methode Electronics Inc. [MEI]US6340.102,5240.9
Primo Water Corp. [PRMW]US19812.572,4840.8
Chemical Financial Corp. [CHFC]US4653.472,4670.8
Foundation Building Materials Inc. [FBM]US16614.792,4520.8
Maxar Technologies Ltd. [MAXR]CA3764.322,4060.8
Circor International Inc. [CIR]US4948.682,4040.8
MTS Systems Corp. [MTSC]US4553.702,4040.8
Luminex Corp. [LMNX]US12019.702,3570.8
Kinsale Capital Group Inc. [KNSL]US5245.002,3380.8
Callon Petroleum Co. [CPE]US19112.152,3240.8
SM Energy Co. [SM]US10422.082,3060.8
Twilio Inc. [TWLO]US9623.602,2770.8
FB Financial Corp. [FBK]US5441.992,2600.8
TETRA Tech Inc. [TTEK]US4748.152,2550.8
ICU Medical Inc. [ICUI]US10216.002,2000.8
Red Robin Gourmet Burgers Inc. [RRGB]US3956.402,1870.7
Carbonite Inc. [CARB]US8725.102,1790.7
NCI Building Systems Inc. [NCS]US11019.302,1270.7
Freshpet Inc. [FRPT]US11018.952,0840.7
Aquaventure Holdings Ltd. [WAAS]VI13315.522,0590.7
Canada Goose Holdings Inc. [GOOS]CA6431.562,0260.7
Infinera Corp. [INFN]US3166.332,0010.7
Atkore International Group Inc. [ATKR]US9221.451,9800.7
Dave & Buster's Entertainment Inc. [PLAY]US3555.171,9430.7
Surgery Partners Inc. [SGRY]US15912.101,9180.7
Meta Financial Group Inc. [CASH]US2192.651,9130.7
Proofpoint Inc. [PFPT]US2188.811,9030.6
Kornit Digital Ltd. [KRNT]IL11816.151,9030.6
Imperva Inc. [IMPV]US4739.701,8850.6
Daseke Inc. [DSKE]US13114.291,8710.6
Actuant Corp. [ATU]US7325.301,8440.6
Tristate Capital Holdings Inc. [TSC]US7923.001,8220.6
BioSpecifics Technologies Corp. [BSTC]US4143.331,7890.6
2u Inc. [TWOU]US2864.511,7820.6
Barnes Group Inc. [B]US2863.271,7810.6
Hudson Technologies Inc. [HDSN]US2936.071,7760.6
Marcus & Millichap Inc. [MMI]US5332.611,7310.6
Party City Holdco Inc. [PRTY]US11613.951,6170.6
Shenandoah Telecommunications Co. [SHEN]US4733.801,5830.5
SRC Energy Inc. [SRCI]US1858.531,5800.5
Nuvasive Inc. [NUVA]US2758.491,5730.5
Habit Restaurants Inc. [HABT]US1649.551,5660.5
Tile Shop Holdings Inc. [TTS]US1629.601,5500.5
Nevro Corp. [NVRO]US2269.041,5290.5
BroadSoft Inc. [BSFT]US2754.901,4930.5
Quantenna Communications Inc. [QTNA]US12112.201,4720.5
Caesarstone Ltd. [CSTE]IL6522.001,4410.5
Adtalem Global Education Inc. [ATGE]US3342.051,4050.5
KEYW Holding Corp. [KEYW]US2245.871,3130.4
National Vision Holdings Inc. [EYE]US3140.611,2670.4
Teligent Inc. [TLGT]US3353.631,2180.4
Power Solutions International Inc. [PSIX]US1377.501,0300.4
Hortonworks Inc. [HDP]US3920.117770.3
Cloudera Inc. [CLDR]US4216.526870.2
AMC Entertainment Holdings Inc. [AMC]US3915.105940.2
Total285,21496.9
Cash and Other Assets Less Liabilities3.1
Total Net Assets100%

Sector Allocation (As of Quarter Ended 12/31/2017)

As of Quarter Ended 12/31/2017
Economic SectorHarbor Small Cap Growth Opportunities Fund %Russell 2000® Growth Index %
Information Technology26.023.8
Industrials22.818.4
Health Care21.123.8
Consumer Discretionary14.214.0
Financials6.76.1
Energy2.11.4
Telecommunication Services1.61.0
Consumer Staples1.62.8
Utilities0.70.8
Real Estate0.63.3
Materials0.04.6

Sector Returns (As of Quarter Ended 12/31/2017)

As of Quarter Ended 12/31/2017
Sector ReturnsHarbor Small Cap Growth Opportunities Fund %Russell 2000® Growth Index %
Real Estate20.31.8
Utilities15.06.1
Consumer Discretionary11.08.4
Financials9.85.9
Energy6.89.1
Industrials5.27.6
Telecommunication Services4.9-1.6
Consumer Staples2.78.5
Cash0.30.0
Materials0.03.9
Health Care-0.33.3
Information Technology-0.51.3

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