Harbor International Small Cap Fund Institutional Class (HAISX)

Portfolio Characteristics (As of Quarter Ended 03/31/2019)

Harbor International Small Cap FundMSCI EAFE Small Cap (ND) Index
Number of Holdings1072,331
Weighted Avg. Market Cap ($Mil)3,232.532,618.88
Median Market Cap ($Mil)2,801.85999.82
Price/Book Ratio2.371.74
Adj. Trailing P/E Ratio17.2916.97
Forecasted P/E Ratio15.8515.68
Earnings Growth Rate (%)14.9513.92
Proj. Earnings Growth Rate (%)8.5210.67
Return on Equity (%)14.0910.80
Turnover (unannualized % since 10/31)29-
Beta vs. Fund Benchmark1.01-

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

Top Ten Holdings (As of Quarter Ended 03/31/2019)

Company Name [Ticker]% of Net Assets
JD Sports Fashion plc [JD/]1.2
Relo Group Inc. [8876]1.2
Nihon M&A Center Inc. [2127]1.2
AEON Delight Co. Ltd. [9787]1.2
Intermediate Capital Group plc [ICP]1.1
Marshalls plc [MSLH]1.1
B&M European Value Retail SA [BME]1.1
Homeserve plc [HSV]1.1
Hera SpA [HER]1.1
Barco NV [BAR]1.1
% of Total Holdings:11.4

Full Holdings (As of Quarter Ended 03/31/2019)

Company Name [Ticker]CountryShares (000's)Current Price ($)Market Value ($000's)% of Net Assets
JD Sports Fashion plc [JD/]GB1396.559131.2
Relo Group Inc. [8876]JP3128.178701.2
Nihon M&A Center Inc. [2127]JP3227.498691.2
AEON Delight Co. Ltd. [9787]JP2238.948641.2
Intermediate Capital Group plc [ICP]GB6113.898421.1
Marshalls plc [MSLH]GB1048.068391.1
B&M European Value Retail SA [BME]GB1724.878381.1
Homeserve plc [HSV]GB6213.368351.1
Hera SpA [HER]IT2303.628321.1
Barco NV [BAR]BE5153.328181.1
Tecan Group AG [TECN]CH3236.178101.1
Orpea SA [ORP]FR7120.077961.1
Ssp Group plc [SSPG]GB889.027961.1
Securitas AB [SECU B_SEK]SE4916.187951.1
Koninklijke Vopak NV [VPK]NL1647.907881.1
Nichirei Corp. [2871]JP3224.707881.1
Beazley plc [BEZ]GB1176.717871.1
OSG Corp. [6136]JP4119.347851.1
Katitas Co. Ltd. [8919]JP2334.437851.1
CompuGroup Medical SE [COP]DE1358.987821.1
Cranswick plc [CWK]GB2235.517821.1
Paltac Corp. [8283]JP1454.547801.1
Cembra Money Bank AG [CMBN]CH894.637781.1
Kyowa Exeo Corp. [1951]JP2827.667771.1
DNA Oyj [DNA]FI3720.737771.1
Pigeon Corp. [7956]JP1941.037751.0
Nifco Inc. [7988]JP3025.537711.0
Applus Services SA [APPS]ES6511.957711.0
Cleanaway Waste Management Ltd. [CWY]AU4881.587711.0
ABC-Mart Inc. [2670]JP1359.547681.0
Close Brothers Group plc [CBG]GB4018.967671.0
Asr Nederland NV [ASRNL]NL1841.677671.0
Morinaga & Co. Ltd./Japan [2201]JP1843.497651.0
Fukuoka Financial Group Inc. [8354]JP3422.217641.0
Cosmos Pharmaceutical Corp. [3349]JP4173.157621.0
Amplifon SpA [AMP]IT3919.527591.0
NOF Corp. [4403]JP2234.137581.0
Hulic Co. Ltd. [3003]JP779.837571.0
Aak AB [AAK_SEK]SE5114.937561.0
Euronext NV [ENX]NL1263.447551.0
DS Smith plc [SMDS]GB1714.387511.0
THK Co. Ltd. [6481]JP3024.847501.0
Tate & Lyle plc [TATE]GB799.467461.0
Toshiba Plant Systems & Services Corp. [1983]JP4217.767441.0
Stroeer Se & Co. KGAA [SAX]DE1358.617411.0
Topdanmark AS [TOP]DK1549.967411.0
Technopro Holdings Inc. [6028]JP1259.927371.0
Senior plc [SNR]GB2582.847341.0
Paragon Banking Group plc [PAG]GB1285.687281.0
IMCD Group NV [IMCD]NL1076.307251.0
Hexpol AB [HPOL B_SEK]SE868.447241.0
Grandvision NV [GVNV]NL3321.677211.0
Marui Group Co. Ltd. [8252]JP3620.227201.0
Bucher Industries AG [BUCN]CH2334.727191.0
Fu Shou Yuan International Group Ltd. [1448]CN7740.927111.0
COMSYS Holdings Corp. [1721]JP2627.327101.0
SCSK Corp. [9719]JP1644.657101.0
Kinepolis Group NV [KIN]BE1256.557041.0
Hays plc [HAS]GB3561.966970.9
Dalata Hotel Group plc [DHG]IE1056.606920.9
Fuji Corp./Aichi [6134]JP5213.356920.9
Weir Group plc [WEIR]GB3420.326900.9
TGS-NOPEC Geophysical Co. [TGS]NO2527.316890.9
Link Administration Holdings Ltd. [LNK]AU1305.256850.9
Marr SpA [MARR]IT3022.786810.9
Chiba Bank Ltd. [8331]JP1245.446750.9
Sanwa Holdings Corp. [5929]JP5611.936740.9
Spectris plc [SXS]GB2032.726650.9
Indra Sistemas SA [IDR]ES6011.116640.9
NET One Systems Co. Ltd. [7518]JP2625.296570.9
RPC Group plc [RPC]GB6310.296530.9
Gaztransport Et Technigaz SA [GTT]FR791.036500.9
Okamoto Industries Inc. [5122]JP1350.556470.9
Orora Ltd. [ORA]AU3042.126450.9
Valmet OYJ [VALMT]FI2525.346450.9
Technogym Spa [TGYM]IT5212.326360.9
Incitec Pivot Ltd. [IPL]AU2732.226060.8
Gerresheimer AG [GXI]DE875.276030.8
Hunting plc [HTG]GB767.745860.8
Aareal Bank AG [ARL]DE1930.885790.8
Scandic Hotels Group AB [SHOT]SE648.935700.8
Bawag Group AG [BG]AT1344.185600.8
BIC Camera Inc. [3048]JP5310.525530.7
UDG Healthcare plc [UDGGBX]IE717.385220.7
Costa Group Holdings Ltd. [CGC]AU1353.664950.7
Infrastrutture Wireless Italiane SpA [INW]IT538.954790.6
Befesa SA [BFSA]LU1143.634700.6
Cimc Enric Holdings Ltd. [3899]CN4361.034490.6
China Jinmao Holdings Group Ltd. [817]HK6780.654430.6
Nexity SA [NXI]FR948.814400.6
Morgan Advanced Materials plc [MGAM]GB1383.164380.6
Menicon Co. Ltd. [7780]JP1528.924250.6
AF Poyry AB [AFB]SE2516.704220.6
KBC Ancora [KBCA]BE946.474120.6
Chinasoft International Ltd. [354]KY6620.624110.6
Fagron NV [FAGR]BE2217.973960.5
Nakanishi Inc. [7716]JP2019.573820.5
Unicaja Banco SA [UNI]ES3541.083800.5
Bakkafrost P/F [BAKKA]FO749.503690.5
Maire Tecnimont SpA [MT]IT963.813660.5
Diasorin SpA [DIA]IT3100.863490.5
Essentra plc [ESNT]GB635.383390.5
Synthomer plc [SYNT]GB664.953250.4
Biffa plc [BIFFGBX]GB972.892790.4
China Everbright Greentech Ltd. [1257]CN2860.792270.3
Insource Co. Ltd. [6200]JP422.20780.1
Total69,89894.7
Cash and Other Assets Less Liabilities5.3
Total Net Assets100%

Sector Allocation (As of Quarter Ended 03/31/2019)

As of Quarter Ended 03/31/2019
Economic SectorHarbor International Small Cap Fund %MSCI EAFE Small Cap (ND) Index %
Industrials23.621.3
Financials12.911.2
Consumer Discretionary12.812.9
Consumer Staples9.46.5
Materials8.58.3
Health Care7.97.6
Information Technology6.39.9
Real Estate4.512.4
Energy3.72.7
Communication Services3.74.8
Utilities1.42.4

Sector Returns (As of Quarter Ended 03/31/2019)

As of Quarter Ended 03/31/2019
Sector ReturnsHarbor International Small Cap Fund %MSCI EAFE Small Cap (ND) Index %
Information Technology25.319.1
Real Estate22.411.4
Utilities17.57.8
Energy14.919.4
Industrials14.210.7
Health Care13.810.9
Consumer Discretionary12.010.7
Communication Services9.312.8
Materials9.27.5
Financials7.35.8
Cash0.70.0
Consumer Staples-2.35.9

Country Allocation (As of Quarter Ended 03/31/2019)

As of Quarter Ended 03/31/2019
CountryHarbor International Small Cap Fund %MSCI EAFE Small Cap (ND) Index %
Japan29.530.4
United Kingdom20.318.9
Italy5.63.7
Netherlands5.12.7
Sweden4.45.4
Australia4.37.4
Germany3.75.9
Belgium3.22.0
Switzerland3.14.3
France2.63.3
Other18.216.0

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.