Harbor Diversified International All Cap Fund Institutional Class (HAIDX)

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

Harbor Diversified International All Cap FundMSCI All Country World Ex. US (ND) Index
Number of Holdings4502,136
Weighted Avg. Market Cap ($Mil)31,493.7860,870.52
Median Market Cap ($Mil)6,833.387,574.73
Price/Book Ratio1.961.75
Adj. Trailing P/E Ratio16.9715.42
Forecasted P/E Ratio14.4513.01
Earnings Growth Rate (%)7.7710.83
Proj. Earnings Growth Rate (%)13.019.97
Return on Equity (%)13.3113.54
Turnover (unannualized % since 10/31)30-
Beta vs. Fund Benchmark0.86-

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

Top Twenty Holdings (As of Quarter Ended 12/31/2018)

Company Name [Ticker]% of Net Assets
Samsung Electronics Co. Ltd. [005930]1.2
Taiwan Semiconductor Manufacturing Co. Ltd. [2330]1.2
Fairfax Financial Holdings Ltd. [FFH]1.0
Intertek Group plc [ITRK]1.0
Roche Holding AG [ROG]0.9
Coloplast AS [COLOB]0.9
Vestas Wind Systems AS [VWS]0.8
Compass Group plc [CPG]0.8
Jardine Matheson Holdings Ltd. [J36]0.8
Sampo OYJ [SAMPO]0.7
Rightmove plc [RMV]0.7
Brookfield Asset Management Inc. [BAM.A]0.7
Toyota Motor Corp. [7203]0.7
Assa Abloy AB Class B [ASSAB]0.7
Reckitt Benckiser Group plc [RB/]0.7
BP plc [BP.]0.7
Shinhan Financial Group Co. Ltd. [A055550]0.7
Unilever plc [ULVR]0.6
Geberit AG [GBRA]0.6
Baidu Inc. ADR [BIDU]0.6
% of Total Holdings:16.0

Full Holdings (As of Quarter Ended 09/30/2018)

Company Name [Ticker]CountryShares (000's)Current Price ($)Market Value ($000's)% of Net Assets
Samsung Electronics Co. Ltd. [005930]KR18241.857,6251.3
Taiwan Semiconductor Manufacturing Co. Ltd. [2330]TW8398.537,1601.2
Fairfax Financial Holdings Ltd. [FFH]CA12543.296,7011.1
Intertek Group plc [ITRK]GB8465.055,4650.9
Brookfield Asset Management Inc. [BAM.A]CA11944.515,2830.9
Coloplast AS [COLOB]DK50102.165,0880.9
Fresenius Medical Care AG & Co. KGAA [FME]DE46102.744,6750.8
Compass Group plc [CPG]GB20522.234,5670.8
Reckitt Benckiser Group plc [RB/]GB4991.354,4660.7
Rightmove plc [RMV]GB7206.144,4190.7
Roche Holding AG [ROG]CH18241.824,3770.7
Baidu Inc. ADR [BIDU]CN19228.684,3280.7
BP plc [BP.]GB5627.664,3070.7
Sampo OYJ [SAMPO]FI8251.754,2330.7
Canadian Natural Resources Ltd. [CNQ]CA12732.674,1450.7
Assa Abloy AB Class B [ASSAB]SE20520.044,1160.7
Shinhan Financial Group Co. Ltd. [A055550]KR10140.414,0750.7
Geberit AG [GBRA]CH9464.144,0380.7
GN Store Nord AS [GN]DK7948.683,8590.6
Bunzl plc [BNZL]GB11831.443,6980.6
Legrand SA [LR]FR5172.923,6920.6
Jardine Matheson Holdings Ltd. [J36]HK5862.743,6640.6
Unilever plc [ULVR]GB6754.933,6600.6
Luxottica Group SpA [LUX]IT5467.773,6510.6
Vestas Wind Systems AS [VWS]DK5467.563,6440.6
Ck Hutchison Holdings Ltd. [1]HK31211.513,5860.6
Homeserve plc [HSV]GB26313.343,5140.6
Toyota Motor Corp. [7203]JP5562.303,4080.6
Nippon Telegraph & Telephone Corp. [9432]JP7445.133,3310.6
Merlin Entertainments plc [MERL]GB6125.223,1910.5
Novo Nordisk AS [NOVOB]DK6847.073,1870.5
Diageo plc [DGE]GB9035.433,1710.5
RELX plc [REL]GB15021.043,1650.5
Airbus SE [AIR]FR25125.543,1560.5
CNH Industrial NV [CNHI]IT26012.003,1210.5
Sumitomo Mitsui Financial Group Inc. [8316]JP7740.243,1070.5
Heineken NV [HEIA]NL3393.853,0890.5
William Demant Holding AS [WDH]DK8037.542,9940.5
Samsung Fire & Marine Insurance Co. Ltd. [A000810]KR12255.992,9880.5
Novartis AG [NOT]CH3586.082,9850.5
HSBC Holdings plc [5]HK3418.752,9800.5
KAO Corp. [4452]JP3580.782,8600.5
Axis Bank Ltd. [AXSB]IN3328.512,8270.5
Want Want China Holdings Ltd. [151]CN3,3180.842,7910.5
Loblaw Cos. Ltd. [L]CA5451.382,7750.5
Eurofins Scientific Se [ERF]FR5568.932,7320.5
Brenntag AG [BNR]DE4461.672,7250.5
CIE Financiere Richemont SA [RITN]CH3381.532,6670.4
Ssp Group plc [SSPG]GB2799.442,6340.4
3i Group plc [III]GB21212.242,5980.4
Kirin Holdings Co. Ltd. [2503]JP10125.652,5960.4
Experian plc [EXPN]GB10125.662,5950.4
Constellation Software Inc. [CSU]CA4735.392,5780.4
Koninklijke Philips NV [PHIA]NL5745.582,5780.4
Hitachi Ltd. [6501]JP7633.992,5700.4
Canadian Pacific Railway Ltd. [CP]CA12211.542,5650.4
Rolls-Royce Holdings plc [RR/]GB19912.872,5570.4
BASF SE [BAS]DE2988.732,5370.4
Dai-ichi Life Holdings Inc. [8750]JP12120.852,5290.4
Porto Seguro SA [PSSA3]BR16814.682,4610.4
Ritchie Bros Auctioneers Inc. [RBA]CA6836.092,4390.4
Adidas AG [ADS]DE10244.562,4220.4
Akzo Nobel NV [AKZA]NL2693.542,4040.4
TUI AG [TUI1]DE12519.222,4000.4
Anheuser-Busch InBev SA [ABI]BE2787.542,3980.4
Saipem SpA [SPM]IT3856.142,3660.4
Svenska Handelsbanken AB [SHBA]SE18712.612,3550.4
Adecco Group AG [ADI1]CH4452.572,3220.4
DCC plc [DCCGBX]GB2690.702,3200.4
Cleanaway Waste Management Ltd. [CWY]AU1,6791.362,2770.4
BNP Paribas SA [BNP]FR3761.242,2760.4
West Japan Railway Co. [9021]JP3269.712,2660.4
Seven & I Holdings Co. Ltd. [3382]JP5144.582,2600.4
Alimentation Couche-Tard Inc. [ATD.B]CA4550.022,2570.4
BAE Systems plc [BA/]GB2758.202,2550.4
Kyocera Corp. [6971]JP3760.022,2450.4
Quinenco SA [QUINENCO]CL7363.042,2360.4
Standard Chartered plc [STAN]GB2668.292,2030.4
MS&AD Insurance Group Holdings Inc. [8725]JP6633.402,1910.4
Genomma Lab Internacional SAB de CV [LAB B]MX2,4940.872,1770.4
Glencore plc [GLEN]GB4954.312,1340.4
Bandai Namco Holdings Inc. [7832]JP5438.852,1130.4
KT Corp. ADR [KT]KR14014.852,0850.3
Logitech International SA [A0J3YT]CH4644.852,0840.3
Grivalia Properties REIC AE [GRIV]GR2249.252,0690.3
Delta Electronics Inc. [2308]TW4794.292,0520.3
Carlsberg AS [CARL B]DK17119.931,9930.3
Paddy Power Betfair plc [PPB]GB2484.481,9870.3
Sandvik AB [SAND_SEK]SE11217.701,9840.3
Convatec Group plc [CTECGBX]GB6553.031,9820.3
Alpargatas SA [ALPA4]BR6523.031,9790.3
Natura Cosmeticos SA [NATU3]BR2807.031,9710.3
UniCredit Spa [UCG]IT13115.001,9600.3
East Japan Railway Co. [9020]JP2192.891,9600.3
Tiger Brands Ltd. [TBS]ZA10418.741,9580.3
Anglo American Platinum Ltd. [AMS]ZA5932.691,9310.3
Telkom SA SOC Ltd. [TKG]ZA5253.651,9160.3
Japan Post Holdings Co. Ltd. [6178]JP15611.901,8540.3
Barclays plc [BARC]GB8332.221,8480.3
Cia Cervecerias Unidas SA [CCU]CL13213.941,8440.3
Bancolombia SA ADR [CIB]CO4441.721,8330.3
Bank of Ireland Group plc [BIRG]IE2387.651,8230.3
Bangkok Bank PCL [BBL-F]TH2806.501,8190.3
Bayerische Motoren Werke AG [BMW]DE2090.091,8170.3
Orica Ltd. [ORI]AU14812.301,8150.3
BlueScope Steel Ltd. [BSL]AU14812.261,8140.3
Yungtay Engineering Co. Ltd. [1507]TW1,1561.571,8110.3
NTT Data Corp. [9613]JP13013.841,8070.3
Great Eastern Holdings Ltd. [G07]SG9119.851,8060.3
Toronto-Dominion Bank [TD]CA3060.771,8050.3
Admiral Group plc [ADM1]GB6627.111,7900.3
G4s plc [GFS]GB5673.151,7880.3
Coca-Cola Amatil Ltd. [CCL]AU2537.051,7850.3
Axel Springer Se [SPR]DE2667.231,7740.3
Totvs SA [TOTS3]BR2846.221,7640.3
Fujifilm Holdings Corp. [4901]JP3944.991,7640.3
Hays plc [HAS]GB6642.651,7630.3
Deutsche Telekom AG [DTE]DE10916.101,7530.3
Gentera SAB de CV [GENTERA *]MX1,7311.011,7510.3
Tingyi Cayman Islands Holding Corp. [322]CN9521.841,7490.3
LG Corp. [A003550]KR2665.461,7300.3
Stabilus SA [STM]DE2182.521,7270.3
China Mengniu Dairy Co. Ltd. [2319]CN5173.321,7190.3
Edenred [EDEN]FR4538.111,7180.3
Resona Holdings Inc. [8308]JP3045.611,7090.3
Royal Dutch Shell plc [RDSA]NL5034.261,7010.3
Als Ltd. [ALQ]AU2626.451,6920.3
Koninklijke Ahold Delhaize NV [AD]NL7322.941,6800.3
UBS Group AG [0UB]CH10615.791,6780.3
Royal Bank of Canada [RY]CA2180.161,6490.3
ITV plc [ITV]GB7992.051,6400.3
NEX Group plc [NXGGBX]GB12512.931,6140.3
Yum China Holdings Inc. [YUMC]CN4635.111,6090.3
Carnival plc [CCL]GB2662.051,5930.3
Hengan International Group Co. Ltd. [1044]CN1739.191,5920.3
Alumina Ltd. [AWC]AU7912.001,5830.3
Tikkurila OYJ [TIK1V]FI10115.661,5750.3
Viscofan SA [VIS]ES2172.831,5490.3
Grupo Televisa SAB ADR [TV]MX8717.741,5450.3
Rogers Communications Inc. [RCI.B]CA3051.431,5270.3
Royal Dutch Shell plc [RDSB]GB4335.011,5180.3
Turkiye Garanti Bankasi As [GARAN.E]TR1,1911.271,5180.3
LI Ning Co. Ltd. [2331]CN1,5990.951,5130.3
Equinor ASA [EQNR]NO5428.121,5120.3
SK Hynix Inc. [A000660]KR2366.161,5080.3
Tokio Marine Holdings Inc. [8766]JP3049.641,4940.2
TECO Electric And Machinery Co. Ltd. [1504]TW2,0450.731,4830.2
Hyundai Motor Co. [A005380]KR13116.731,4740.2
QBE Insurance Group Ltd. [QBE]AU1828.031,4620.2
PhosAgro PJSC GDR [PHOJY]RU10713.581,4580.2
Wh Smith plc [SMWH]GB5426.851,4530.2
Mrv Engenharia E Participacoes SA [MRVE3]BR4723.041,4350.2
Thales SA [HO]FR10142.081,4260.2
Informa plc [INF]GB1439.931,4190.2
Volkswagen AG [VOW3]DE8175.611,4090.2
Rio Tinto plc [RIO]GB2850.441,4090.2
Lloyds Banking Group plc [LLOY]GB1,8270.771,4050.2
Secom Co. Ltd. [9735]JP1781.491,3940.2
ArcelorMittal SA [MT]FR4531.051,3890.2
WPP plc [WPP]GB9414.641,3810.2
Sompo Holdings Inc. [8630]JP3242.611,3760.2
Bankia SA [BKIA]ES3503.901,3680.2
Koninklijke KPN NV [KPN]NL5162.641,3610.2
Nemak SAB de CV [NEMAK A]MX1,7880.751,3470.2
BCE Inc. [BCE]CA3340.511,3450.2
Sonova Holding AG [SOON]CH7198.471,3400.2
Mitsubishi Corp. [8058]JP4330.801,3370.2
Just Eat plc [JE.]GB1528.731,3260.2
Brambles Ltd. [BXB]AU1677.881,3120.2
Barrick Gold Corp. [ABX]CA11811.061,3080.2
Yandex NV [YNDX]RU4032.891,3050.2
Newcrest Mining Ltd. [NCM]AU9214.041,2930.2
United Overseas Bank Ltd. [U11]SG6519.771,2910.2
Symrise AG [SY1]DE1491.181,2720.2
Magna International Inc. [MG]CA2452.531,2670.2
AXA SA [CS]FR4726.801,2660.2
Getlink SE [GET]FR9912.771,2630.2
Pchome Online Inc. [8044]TW2784.531,2570.2
Spectris plc [SXS]GB4130.891,2540.2
Itausa - Investimentos Itau SA [ITSA4]BR5012.501,2530.2
Wienerberger AG [WIE]AT4925.001,2370.2
Grupo Lala SAB de CV [LALA B]MX1,0791.141,2340.2
Fuji Media Holdings Inc. [4676]JP6917.801,2210.2
LUKOIL Pjsc ADR [LUKOY]RU1676.441,2190.2
Global Ports Investments plc GDRRU3883.081,1940.2
Gud Holdings Ltd. [GUD]AU11310.451,1830.2
Cts Eventim AG & Co. KGAA [EVD]DE2644.831,1730.2
Swedish Match AB [SWMA_SEK]SE2351.121,1660.2
Hana Financial Group Inc. [A086790]KR2940.151,1570.2
Delfi Ltd. [DELFI]SG1,4010.821,1490.2
Anglo American plc [AGL]ZA5022.561,1370.2
Nordea Bank AB [NDA SEK]SE10410.881,1340.2
Komercni Banka As [KOMB]CZ2840.911,1320.2
Alfresa Holdings Corp. [2784]JP4226.791,1280.2
Tsingtao Brewery Co. Ltd. [168]CN2404.691,1260.2
Nissan Chemical Industries Ltd. [4021]JP2152.821,1200.2
Gvc Holdings plc [GVC]GB9311.971,1150.2
Carsales.com Ltd. [CAR]AU10710.451,1140.2
Antofagasta plc [ANTO]GB9811.111,0900.2
Obayashi Corp. [1802]JP1159.471,0900.2
Boskalis Westminster NV [BOKA]NL3531.491,0890.2
Amadeus It Group SA [AMS]ES1292.691,0710.2
Teleperformance [TEP]FR6188.651,0580.2
Davide Campari-Milano SpA [CPR]IT1248.521,0520.2
Elis SA [ELIS]FR4523.541,0480.2
Wartsila OYJ Abp [WRT1V]FI5419.461,0470.2
Ig Group Holdings plc [IGG]GB1268.241,0420.2
Mizuho Financial Group Inc. [8411]JP5911.741,0300.2
Inchcape plc [INCH]GB1188.711,0300.2
Franco-Nevada Corp. [FNV]CA1662.561,0230.2
BHP Billiton plc [BLT]GB4721.821,0200.2
Toyo Suisan Kaisha Ltd. [2875]JP2638.821,0170.2
INPEX Corp. [1605]JP8112.491,0170.2
Chroma Ate Inc. [2360]TW2094.801,0030.2
BHP Billiton Ltd. [BHP]AU3924.919830.2
DNB ASA [DNB]NO4721.049810.2
Bharti Airtel Ltd. [BHARTI]IN2074.699730.2
St. James's Place plc [STJ]GB6514.919730.2
Mitsubishi Estate Co. Ltd. [8802]JP5716.989660.2
Thomas Cook Group plc [TCG]GB1,2790.759640.2
S-1 Corp. [A012750]KR1282.399580.2
Nippon Television Holdings Inc. [9404]JP5517.329570.2
Lotte Shopping Co. Ltd. [A023530]KR5188.989560.2
Otsuka Holdings Co. Ltd. [4578]JP1950.449530.2
Duluxgroup Ltd. [DLX]AU1705.549440.2
Grupo Financiero Inbursa SAB de CV [GFINBUR O]MX5991.579420.2
Serco Group plc [SRP]GB7341.279350.2
Auto Trader Group plc [AUTO]GB1605.829290.2
Total SA [FP]FR1465.029270.2
Kasikornbank PCL [KBANK-F]TH1396.689270.2
Acerinox SA [ACX]ES6514.279240.2
Bridgestone Corp. [5108]JP2437.799220.2
Giant Manufacturing Co. Ltd. [9921]TW2144.299190.2
Gestamp Automocion SA ADR [GEST]ES1197.569010.2
Shimizu Corp. [1803]JP989.138990.2
Banco Bradesco SA [BBDC4]BR1257.108900.1
Stella International Holdings Ltd. [1836]HK1,0010.898900.1
Cia SUD Americana de Vapores SA [VAPORES]CL27,7460.038860.1
Capita plc [CPI1]GB4751.868830.1
Amer Sports OYJ [AMEAS]FI2140.868720.1
Easyjet plc [EZJ]GB5117.118710.1
Casio Computer Co. Ltd. [6952]JP5316.358680.1
Toray Industries Inc. [3402]JP1157.508620.1
JCDecaux SA [DEC]FR2336.598540.1
KDDI Corp. [9433]JP3127.598440.1
Fourlis Holdings SA [FOYRK]GR1406.018410.1
Tesco plc [TSCO]GB2693.138410.1
Modern Times Group Mortgage AB Class B [MTG B]SE2336.668310.1
Provident Financial plc [PFG1]GB1067.878310.1
Prairiesky Royalty Ltd. [PSK]CA4717.578300.1
Cie Financiere Richemont SA ADR [CFR]ZA998.208160.1
Daily Mail & General Trust plc [DMGT]GB899.148100.1
Tohoku Electric Power Co. Inc. [9506]JP6013.608090.1
Esprit Holdings Ltd. [330]HK3,3680.248090.1
Jumbo SA [BELA]GR5414.858080.1
Cia de Minas Buenaventura SAA ADR [BVN]PE5813.417830.1
Yamato Holdings Co. Ltd. [9064]JP2530.707770.1
Gildan Activewear Inc. [GIL]CA2530.437710.1
Television Broadcasts Ltd. [511]HK2702.847670.1
Vodafone Idea Ltd. [IDEA]IN1,4110.547570.1
Shriram Transport Finance Co. Ltd. [SHTF]IN4815.907560.1
Fairfax Media Ltd. [FXJ]AU1,2660.607540.1
Irish Continental Group plc [IR5B]IE1246.057490.1
Hoshizaki Corp. [6465]JP7103.507450.1
Sumitomo Mitsui Trust Holdings Inc. [8309]JP1841.157410.1
OBIC Co. Ltd. [4684]JP894.587380.1
ASML Holding NV [ASML]NL4187.757370.1
Enaex SA [ENAEX]CL5313.857350.1
John Wood Group plc [WG/]GB7310.037340.1
Globaltrans Investment plc GDRRU6910.507280.1
Nomura Holdings Inc. [8604]JP1514.777210.1
LIXIL Group Corp. [5938]JP3719.257200.1
Schibsted ASA Class A [SCHA]NO1937.547140.1
Iph Ltd. [IPH]AU1624.357050.1
Omron Corp. [6645]JP1742.267010.1
Mtu Aero Engines AG [MTX]DE3225.287010.1
Magnit Pjsc [MGNT]RU1258.427010.1
NTT DoCoMo Inc. [9437]JP2626.886990.1
Millicom International Cellular SA SDR [MIC SDB_SEK]SE1257.356960.1
Eurocash SA [EUR]PL1394.906820.1
NTT Urban Development Corp. [8933]JP5911.476780.1
Abcam plc [ABC]GB3618.666770.1
Suntory Beverage & Food Ltd. [2587]JP1642.376740.1
Marui Group Co. Ltd. [8252]JP2724.676660.1
East African Breweries Ltd. [EABL.O0000]KE3531.896660.1
Hongkong & Shanghai Hotels Ltd. [45]HK4751.406650.1
Sekisui Chemical Co. Ltd. [4204]JP3618.446580.1
Sony Corp. [6758]JP1160.796570.1
GS Home Shopping Inc. [A028150]KR4182.716550.1
Media Nusantara Citra TBK PT [MNCN]ID11,9840.056470.1
Oesterreichische Post AG [POST]AT1541.816450.1
NEC Corp. [6701]JP2327.636440.1
International Personal Finance plc [IPF]GB2182.926360.1
Industrias Bachoco SAB de CV [BACHOCO B]MX1414.506350.1
Metcash Ltd. [MTS]AU2922.176340.1
Caltex Australia Ltd. [CTX]AU2921.606290.1
British American Tobacco plc [BATS]GB1346.626270.1
Wirecard AG [WDI]DE3216.356270.1
Haw Par Corp. Ltd. [H02]SG639.886220.1
Piaggio & C. SpA [PIA]IT2722.286210.1
Isetan Mitsukoshi Holdings Ltd. [3099]JP5012.286190.1
Pldt Inc. [TEL]PH2425.196170.1
Dksh Holding AG [DS5]CH968.096070.1
Jupiter Fund Management plc [JUP]GB1155.276060.1
Toyo Seikan Group Holdings Ltd. [5901]JP2920.756040.1
Maeda Corp. [1824]JP4613.216020.1
DBS Group Holdings Ltd. [D05]SG3219.086010.1
TDK Corp. [6762]JP6108.965990.1
Hoya Corp. [7741]JP1059.395940.1
Old Mutual Ltd. [OMU]ZA2762.145930.1
Yamada Denki Co. Ltd. [9831]JP1175.065900.1
Close Brothers Group plc [CBG]GB2820.615830.1
Persol Holdings Co. Ltd. [2181]JP2523.475820.1
Spark New Zealand Ltd. [SPK]NZ2142.685740.1
Lion Corp. [4912]JP2622.215730.1
SCSK Corp. [9719]JP1247.245670.1
Renesas Electronics Corp. [6723]JP906.265620.1
Schibsted ASA Class B [SCHB]NO1634.755590.1
Hannover Rueck Se [HNR1]DE4141.155560.1
Gerresheimer AG [GXI]DE684.425440.1
Grupo Aval Acciones y Valores SA [PFAVAL]CO1,3720.395390.1
Mitsubishi Heavy Industries Ltd. [7011]JP1438.625290.1
Raubex Group Ltd. [RBX]ZA3341.565210.1
IMCD Group NV [IMCD]NL777.835210.1
Ajisen China Holdings Ltd. [538]CN1,2400.415110.1
ITOCHU Corp. [8001]JP2718.305000.1
Vodafone Group plc [VOD]GB2332.144990.1
AEON Financial Service Co. Ltd. [8570]JP2420.714970.1
Grifols SA [GRF]ES1828.124960.1
Embraer SA [EMBR3]BR1014.914960.1
Ulker Biskuvi Sanayi As [ULKER.E]TR1762.804940.1
National Grid plc [NG/]GB4710.334900.1
First Pacific Co. Ltd. [142]HK9900.494880.1
Subaru Corp. [7270]JP1630.654780.1
Neopost SA [NEO]FR1630.374750.1
Andritz AG [ANDR]AT858.334740.1
Domain Holdings Australia Ltd. [DHG]AU1872.534720.1
Daifuku Co. Ltd. [6383]JP950.964590.1
Astellas Pharma Inc. [4503]JP2617.464580.1
Dechra Pharmaceuticals plc [DPH]GB1628.374480.1
Tokyo Gas Co. Ltd. [9531]JP1824.604450.1
Sberbank of Russia Pjsc ADR [SBRCY]RU3512.584390.1
Azbil Corp. [6845]JP2021.744350.1
Recruit Holdings Co. Ltd. [6098]JP1333.404340.1
Shin-Etsu Chemical Co. Ltd. [4063]JP588.414330.1
Genpact Ltd. [G]US1430.614270.1
Daiwa House Industry Co. Ltd. [1925]JP1429.634240.1
Tsogo Sun Holdings Ltd. [TSH]ZA2881.444150.1
Spin Master Corp. [TOY]CA1039.654130.1
Fukuoka Financial Group Inc. [8354]JP1527.504130.1
Nitto Denko Corp. [6988]JP574.974050.1
Sky Network Television Ltd. [SKT]NZ2741.463990.1
Devro plc [DVO]GB1482.683970.1
Matsumotokiyoshi Holdings Co. Ltd. [3088]JP1041.013940.1
Dairy Farm International Holdings Ltd. [D01]HK449.003930.1
Pagegroup plc [PAGEBGX]GB527.453900.1
Ryohin Keikaku Co. Ltd. [7453]JP1297.243860.1
Tokyo Electron Ltd. [8035]JP3137.823860.1
Sony Financial Holdings Inc. [8729]JP1722.053840.1
Smith & Nephew plc [SN/]GB2118.243810.1
Lawson Inc. [2651]JP660.903780.1
Japan Tobacco Inc. [2914]JP1426.113760.1
Koito Manufacturing Co. Ltd. [7276]JP665.673740.1
Mitsubishi UFJ Financial Group Inc. [8306]JP606.213730.1
Sumitomo Dainippon Pharma Co. Ltd. [4506]JP1622.973720.1
Nomura Co. Ltd. [9716]JP1820.643720.1
Intesa Sanpaolo SpA [ISP]IT1442.553670.1
Sumitomo Electric Industries Ltd. [5802]JP2315.693660.1
Sawai Pharmaceutical Co. Ltd. [4555]JP753.983620.1
Vicat SA [VCT]FR660.913610.1
Technopro Holdings Inc. [6028]JP662.073540.1
LVMH Moet Hennessy Louis Vuitton SE [MC]FR1353.373520.1
Imperial Brands plc [IMB]GB1034.803510.1
Sega Sammy Holdings Inc. [6460]JP2414.753480.1
USS Co. Ltd. [4732]JP1818.563420.1
Mitsubishi Logistics Corp. [9301]JP1325.833410.1
Tecan Group AG [TECN]CH1236.733400.1
Olympus Corp. [7733]JP939.023390.1
Asahi Group Holdings Ltd. [2502]JP843.393380.1
Sohgo Security Services Co. Ltd. [2331]JP843.943340.1
DSV A/S [DSV]DK490.873330.1
Imerys SA [NK]FR573.843320.1
Barry Callebaut AG [BCLN]CH01893.633310.1
Barratt Developments plc [BDEV]GB457.383310.1
Nippon Suisan Kaisha Ltd. [1332]JP506.523290.1
Alpha Bank AE [ALPHA]GR2271.443270.1
Makita Corp. [6586]JP650.083250.1
Hitachi High-Technologies Corp. [8036]JP934.533250.1
Sho-Bond Holdings Co. Ltd. [1414]JP480.723230.1
Helvetia Holding AG [HELN]CH1609.163160.1
Petrofac Ltd. [PFC]GB378.413150.1
Amcor Ltd. [AMC]AU329.883120.1
Shimano Inc. [7309]JP2161.253060.1
Saab AB [SAAB B_SEK]SE650.293050.1
Belimo Holding AG [BEAN]CH04782.623010.1
Grindrod Ltd. [GND]ZA5460.553010.1
Ushio Inc. [6925]JP2213.722990.0
Meiji Holdings Co. Ltd. [2269]JP467.212960.0
Japan Airlines Co. Ltd. [9201]JP835.942950.0
Shimadzu Corp. [7701]JP931.342950.0
Randstad Holding NV [RAND]NL653.372940.0
Nokian Renkaat OYJ [NRE1V]FI740.932920.0
Playtech plc [PTEC]GB466.352910.0
Securitas AB [SECU B_SEK]SE1717.392910.0
Keyence Corp. [6861]JP0580.892900.0
Danske Bank AS [DANSKE]DK1126.212880.0
Rotork plc [ROR]GB664.302850.0
Nomura Research Institute Ltd. [4307]JP650.502830.0
ITOCHU Techno-Solutions Corp. [4739]JP1321.732800.0
Softbank Group Corp. [9984]JP399.902800.0
Stagecoach Group plc [SGC1]GB1372.042790.0
TechnipFMC plc [FTI]FR931.352760.0
GL Ltd. [B16]SG4940.552710.0
Schindler Holding AG [SCHN]CH1241.292710.0
Gea Group AG [G1A]DE735.592660.0
CRH plc [CRHGBX]IE832.732650.0
Senko Co. Ltd. [9069]JP328.322650.0
T&D Holdings Inc. [8795]JP1616.512630.0
Banco Santander SA [SAN]ES525.012590.0
Rinnai Corp. [5947]JP376.242590.0
Moneysupermarket.Com Group plc [MONY]GB713.642590.0
Trend Micro Inc. [4704]JP464.322570.0
National Express Group plc [NEX1]GB505.092560.0
Toho Co. Ltd. [9602]JP831.412540.0
Japan Exchange Group Inc. [8697]JP1417.422530.0
Goodbaby International Holdings Ltd. [1086]HK6280.402510.0
Hyundai Elevator Co. Ltd. [A017800]KR2100.432500.0
Oracle Corp. Japan [4716]JP380.572500.0
Asaleo Care Ltd. [AHY]AU4750.522490.0
Toyota Industries Corp. [6201]JP459.192490.0
Pets At Home Group plc [PETS]GB1601.562480.0
Sundrug Co. Ltd. [9989]JP735.682390.0
Kone OYJ [KNEBV]FI453.382380.0
L'occitane International SA [973]HK1321.792370.0
Hermes International [RMS]FR0662.522370.0
Bec World PCL [BEC-F]TH1,0960.212360.0
Onward Holdings Co. Ltd. [8016]JP356.702330.0
Britvic plc [BVIC]GB2310.182310.0
IMI plc [IMI]GB1614.282300.0
Fanuc Corp. [6954]JP1188.132260.0
Georgia Capital plc [CGEOGBX]GB1514.562250.0
Canon Inc. [7751]JP731.712250.0
Lps Brasil Consultoria de Imoveis SA [LPSB3]BR3050.712160.0
Ferrovial SA [FER]ES1020.692090.0
B2W Cia Digital [BTOW3]BR296.862010.0
Rathbone Brothers plc [RAT]GB631.271960.0
NON-Standard Finance plc [NSFGBX]GB2590.751930.0
Smartone Telecommunications Holdings Ltd. [315]HK1371.331830.0
Concordia Financial Group Ltd. [7186]JP374.901820.0
Hirose Electric Co. Ltd. [6806]JP2109.231760.0
Chiba Bank Ltd. [8331]JP266.831740.0
ABC-Mart Inc. [2670]JP355.631720.0
AEON Delight Co. Ltd. [9787]JP536.491720.0
Lopez Holdings Corp. [LPZ]PH2,0740.081700.0
McCarthy & Stone plc [MCS]GB961.751680.0
CIE Automotive SA [CIE]ES531.201670.0
Almacenes Exito SA [EXITO]CO344.921650.0
Prosegur Cia de Seguridad SA [PSG]ES266.211590.0
Sigma Healthcare Ltd. [SIG]AU3380.461540.0
Otsuka Corp. [4768]JP437.301530.0
Bucher Industries AG [BUCN]CH0321.991520.0
Mediaset Espana Comunicacion SA [TL5]ES217.281500.0
United Industrial Corp. Ltd. [U06]SG672.181460.0
Kubota Corp. [6326]JP916.991460.0
Zooplus AG [ZO1]DE1173.571440.0
Gwa Group Ltd. [GWA]AU642.251440.0
Heidelbergcement AG [HEI]DE278.111360.0
Hirata Corp. [6258]JP271.991300.0
Takeaway.Com NV [TKWY]NL264.671280.0
Croda International plc [CRDA]GB267.781240.0
Mandom Corp. [4917]JP431.781180.0
Bank of Georgia Group plc [BGEO]GB522.331130.0
Kansai Electric Power Co. [9503]JP715.091030.0
AMS AG [AMS]CH256.281020.0
Grindrod Shipping Holdings Ltd. [GSH]SG137.07890.0
Glory Ltd. [6457]JP424.42850.0
Nikon Corp. [7731]JP418.79680.0
New World Development Co. Ltd. [17]HK461.36630.0
Texwinca Holdings Ltd. [321]HK860.39340.0
Total590,91297.5
Cash and Other Assets Less Liabilities2.5
Total Net Assets100%

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

As of Quarter Ended 12/31/2018
Economic SectorHarbor Diversified International All Cap Fund %MSCI All Country World Ex. US (ND) Index %
Industrials20.711.7
Financials18.222.2
Consumer Discretionary13.610.6
Consumer Staples11.99.9
Communication Services8.67.6
Information Technology7.38.0
Materials6.97.7
Health Care6.98.4
Energy3.57.3
Real Estate1.13.4
Utilities0.43.4

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

As of Quarter Ended 12/31/2018
Sector ReturnsHarbor Diversified International All Cap Fund %MSCI All Country World Ex. US (ND) Index %
Real Estate10.9-3.8
Cash2.60.0
Utilities-2.10.5
Consumer Staples-6.6-7.3
Consumer Discretionary-9.6-14.0
Materials-9.9-13.4
Financials-12.2-10.7
Communication Services-12.4-8.2
Industrials-12.6-13.6
Information Technology-15.0-15.9
Health Care-17.3-11.0
Energy-22.7-16.3

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

As of Quarter Ended 12/31/2018
CountryHarbor Diversified International All Cap Fund %MSCI All Country World Ex. US (ND) Index %
United Kingdom18.611.4
Japan16.616.6
Canada6.96.5
France4.37.5
Germany4.26.0
South Korea4.23.6
Australia3.94.7
Switzerland3.85.8
Denmark3.71.2
Brazil3.01.9
Other30.834.8

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