Harbor International Small Cap Fund Institutional Class (HAISX)

Portfolio Characteristics (As of Quarter Ended 09/30/2017)

Harbor International Small Cap FundMSCI EAFE Small Cap (ND) Index
Number of Holdings1032,252
Weighted Avg. Market Cap ($Mil)3,311.292,794.60
Median Market Cap ($Mil)3,331.761,137.59
Price/Book Ratio3.012.12
Adj. Trailing P/E Ratio21.6819.56
Forecasted P/E Ratio17.5616.90
Earnings Growth Rate (%)17.9013.23
Proj. Earnings Growth Rate (%)11.6913.46
Return on Equity (%)13.4210.66
Beta vs. Fund Benchmark0.77-

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

Top Ten Holdings (As of Quarter Ended 09/30/2017)

Company Name [Ticker]% of Net Assets
RPC Group plc [RPC]1.4
Relo Group Inc. [8876]1.3
Nihon M&A Center Inc. [2127]1.3
Ssp Group plc [SSPG]1.3
Technopro Holdings Inc. [6028]1.2
Homeserve plc [HSV]1.2
Euronext NV [ENX]1.2
Nabtesco Corp. [6268]1.2
Kyudenko Corp. [1959]1.2
Persol Holdings Co Ltd. [2181]1.1
% of Total Holdings:12.4

Full Holdings (As of Quarter Ended 09/30/2017)

Company Name [Ticker]CountryShares (000's)Current Price ($)Market Value ($000's)% of Net Assets
RPC Group plc [RPC]GB4513.285941.4
Relo Group Inc. [8876]JP2422.885491.3
Nihon M&A Center Inc. [2127]JP1148.945381.3
Ssp Group plc [SSPG]GB747.215361.3
Technopro Holdings Inc. [6028]JP1047.454891.2
Homeserve plc [HSV]GB4411.154881.2
Euronext NV [ENX]NL860.884871.2
Nabtesco Corp. [6268]JP1337.214801.2
Kyudenko Corp. [1959]JP1238.794771.2
Persol Holdings Co Ltd. [2181]JP2023.304731.1
OSG Corp. [6136]JP2022.774671.1
Dalata Hotel Group plc [DHG]IE716.534641.1
Intermediate Capital Group plc [ICP]GB3712.564621.1
Synthomer plc [SYNT]GB706.554591.1
Nifco Inc. [7988]JP861.104581.1
Amplifon SpA [AMP]IT3015.224581.1
B&M European Value Retail SA [BME]LU885.194561.1
AEON Delight Co. Ltd. [9787]JP1237.564541.1
Hera SpA [HER]IT1443.144521.1
UDG Healthcare plc [UDG]IE4011.404511.1
IMCD Group NV [IMCD]NL761.324511.1
ASM International NV [ASM]NL763.244501.1
Sophos Group plc [SOPH]GB617.374491.1
Arrow Global Group plc [ARW]GB785.734491.1
Tgs Nopec Geophysical Co. ASA [TGS]NO1923.844481.1
Sfs Group AG [SFSN]CH4121.924421.1
Saf-Holland SA [SFQ]LU2120.334361.1
Ascom Holding AG [ASCN]CH2022.004341.0
Sato Holdings Corp. [6287]JP1823.684331.0
Wienerberger AG [WIE]AT1824.444311.0
Hikari Tsushin Inc. [9435]JP3125.454271.0
Costa Group Holdings Ltd. [CGC]AU974.394261.0
Carl Zeiss Meditec AG [AFX]DE852.324261.0
Marr SpA [MARR]IT1626.364261.0
Fukuoka Financial Group Inc. [8354]JP914.634211.0
CKD Corp. [6407]JP2119.684191.0
Link Administration Holdings Ltd. [LNK]AU715.924191.0
Flsmidth & Co. A/S [FLS]DK666.204191.0
Dignity plc [DTY]GB1430.904181.0
Intrum Justitia AB [IJ_SEK]SE1235.384181.0
Okamoto Industries Inc. [5122]JP4010.424171.0
Sumitomo Forestry Co. Ltd. [1911]JP2715.664171.0
THK Co. Ltd. [6481]JP1234.114161.0
Storebrand ASA [STB]NO498.514161.0
Thule Group AB [THULE]SE1921.514151.0
Gerresheimer AG [GXI]DE577.484151.0
Valmet OYJ [VALMT]FI2119.664081.0
Aareal Bank AG [ARL]DE1042.394081.0
ABC-Mart Inc. [2670]JP852.824071.0
Cineworld Group plc [CINE]GB459.084051.0
Beazley plc [BEZ]GB636.434051.0
AAK AB [AAK_SEK]SE575.804051.0
Daifuku Co. Ltd. [6383]JP849.314041.0
Ezaki Glico Co. Ltd. [2206]JP852.794011.0
Cargotec OYJ [CGCBV]FI662.894011.0
Ascential plc [ASCLGBX]GB874.613991.0
Suruga Bank Ltd. [8358]JP1821.583951.0
Ontex Group NV [ONTEX]BE1234.073931.0
Elior Group SA [ELIOR]FR1526.493920.9
Applus Services SA [APPS]ES3112.523920.9
McBride plc [MCB]GB1382.823890.9
Tate & Lyle plc [TATE]GB458.683890.9
Worldline SA [WLN]FR942.413890.9
SCSK Corp. [9719]JP942.483870.9
Pigeon Corp. [7956]JP1134.193830.9
Iriso Electronics Co. Ltd. [6908]JP752.363820.9
Mabuchi Motor Co. Ltd. [6592]JP750.103710.9
Bravida Holding AB [BRAV]SE507.323640.9
Credit Corp. Group Ltd. [CCP]AU2415.113590.9
Morgan Advanced Materials plc [MGAM]GB854.173530.9
Dksh Holding AG [DKSH]CH484.983520.9
Kinepolis Group NV [KIN]BE566.483470.8
DS Smith plc [SMDS]GB526.613430.8
Samsonite International SA [1910]HK784.293340.8
NMC Health plc [NMC]GB937.003330.8
Haitian International Holdings Ltd. [1882]KY1132.883250.8
Lenzing AG [LNZ]AT2145.073240.8
Attendo AB [ATT]SE2811.523180.8
KBC Ancora [KBCA]BE558.903150.8
Xinyi Glass Holdings Ltd. [868]HK3080.993050.7
Erex Co. Ltd. [9517]JP329.323000.7
Maire Tecnimont SpA [MT]IT535.542930.7
Orora Ltd. [ORA]AU1202.442920.7
Daicel Corp. [4202]JP2412.062860.7
Diasorin SpA [DIA]IT389.182850.7
Gaztransport Et Technigaz SA [GTT]FR554.352730.7
Temenos Group AG [TEMN]CH3102.142720.7
Kansai Paint Co. Ltd. [4613]JP1125.192700.7
Barco NV [BAR]BE2107.992700.7
Teleperformance [RCF]FR2149.192690.7
Gud Holdings Ltd. [GUD]AU318.572650.6
Incitec Pivot Ltd. [IPL]AU932.832640.6
Shimadzu Corp. [7701]JP1319.722560.6
Stabilus SA [STM]DE390.862540.6
Nexity SA [NXI]FR461.112470.6
CompuGroup Medical SE [COP]DE456.672430.6
Minebea Mitsumi Inc. [6479]JP1515.662320.6
Infrastrutture Wireless Italiane SpA [INW]IT346.622270.5
Cembra Money Bank AG [CMBN]CH387.492270.5
Hoshizaki Corp. [6465]JP287.841840.4
Ahlsell AB [AHSL]SE276.501740.4
Tbc Bank Group plc [TBCG]GB822.241690.4
Daetwyler Holding AG [DAE]CH1158.261560.4
Total39,21594.7
Cash and Other Assets Less Liabilities5.3
Total Net Assets100%

Sector Allocation (As of Quarter Ended 09/30/2017)

As of Quarter Ended 09/30/2017
Economic SectorHarbor International Small Cap Fund %MSCI EAFE Small Cap (ND) Index %
Industrials28.522.4
Consumer Discretionary16.615.9
Financials10.911.4
Information Technology9.011.4
Materials8.99.3
Consumer Staples7.86.5
Health Care7.16.7
Real Estate1.910.3
Utilities1.82.1
Energy1.72.5
Telecommunication Services0.51.3

Sector Returns (As of Quarter Ended 09/30/2017)

As of Quarter Ended 09/30/2017
Sector ReturnsHarbor International Small Cap Fund %MSCI EAFE Small Cap (ND) Index %
Energy26.110.7
Telecommunication Services16.74.2
Industrials11.99.3
Financials9.17.5
Real Estate8.84.1
Information Technology8.310.6
Consumer Discretionary8.26.8
Materials6.39.6
Health Care6.34.4
Consumer Staples4.53.8
Utilities2.66.9
Cash0.60.0

Country Allocation (As of Quarter Ended 09/30/2017)

As of Quarter Ended 09/30/2017
CountryHarbor International Small Cap Fund %MSCI EAFE Small Cap (ND) Index %
Japan29.029.6
United Kingdom17.018.4
Italy5.24.2
Sweden5.15.3
Australia4.96.0
Switzerland4.64.8
Germany4.26.9
France3.84.6
Netherlands3.42.3
Belgium3.21.9
Other19.616.0

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 EAFE Small Cap (ND) Index is an equity index which captures small cap representation across developed markets countries around the world, excluding the US and Canada. This unmanaged index does not reflect fees and expenses and is not available for direct investment.