Harbor Small Cap Value Opportunities Fund Institutional Class (HSOVX)

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

Harbor Small Cap Value Opportunities FundRussell 2000® Value Index
Number of Holdings611,347
Weighted Avg. Market Cap ($Mil)2,758.692,186.57
Median Market Cap ($Mil)2,885.83696.00
Price/Book Ratio1.431.50
Adj. Trailing P/E Ratio13.1515.19
Forecasted P/E Ratio13.9314.53
Earnings Growth Rate (%)17.358.66
Proj. Earnings Growth Rate (%)8.599.37
Return on Equity (%)8.738.61
Turnover (unannualized % since 10/31)48-
Beta vs. Fund Benchmark1.01-

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
Diebold Nixdorf Inc. [DBD]4.0
Cars.com Inc. [CARS]4.0
Dave & Buster's Entertainment Inc. [PLAY]3.0
Stericycle Inc. [SRCL]2.9
Syneos Health Inc. [SYNH]2.6
Michaels Companies Inc. [MIK]2.3
Beacon Roofing Supply Inc. [BECN]2.3
Sterling Bancorp [STL]2.2
Samsonite International SA ADR [SMSEY]2.1
Bank of NT Butterfield & Son Ltd. [NTB]2.1
% of Total Holdings:27.5

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

Company Name [Ticker]CountryShares (000's)Current Price ($)Market Value ($000's)% of Net Assets
Diebold Nixdorf Inc. [DBD]US1419.161,2914.0
Cars.com Inc. [CARS]US6519.721,2904.0
Dave & Buster's Entertainment Inc. [PLAY]US2440.479553.0
Stericycle Inc. [SRCL]US2047.759422.9
Syneos Health Inc. [SYNH]US1751.098482.6
Michaels Companies Inc. [MIK]US868.707442.3
Beacon Roofing Supply Inc. [BECN]US2036.727382.3
Sterling Bancorp [STL]US3421.287182.2
Samsonite International SA ADR [SMSEY]LU6011.486902.1
Bank of NT Butterfield & Son Ltd. [NTB]BM2033.966752.1
Wintrust Financial Corp. [WTFC]US973.166562.0
Redwood Trust Inc. [RWT]US3816.536332.0
Despegar.Com Corp. [DESP]VI4513.896271.9
First Hawaiian Inc. [FHB]US2425.876261.9
TreeHouse Foods Inc. [THS]US1254.106241.9
IAA Inc. [IAAW]US1638.786141.9
Outfront Media Inc. [OUT]US2425.796071.9
e.l.f. Beauty Inc. [ELF]US4214.105931.8
Genesee & Wyoming Inc. [GWR]US6100.005921.8
Viper Energy Partners LP [VNOM], 0.0%US1830.825671.8
Physicians Realty Trust [DOC]US3217.445531.7
Mednax Inc. [MD]US2025.235061.6
Fgl Holdings [FG]KY598.404961.5
Argo Group International Holdings Ltd. [ARGO]BM774.054891.5
Altra Industrial Motion Corp. [AIMC]US1335.884821.5
WPX Energy Inc. [WPX]US4211.514811.5
Northwestern Corp. [NWE]US772.154801.5
Integra LifeSciences Holdings Corp. [IART]US855.854751.5
Cadence Bancorp [CADE]US2320.804731.5
Acadia Healthcare Co. Inc. [ACHC]US1334.954711.5
Artisan Partners Asset Management Inc. [APAM]US1627.524541.4
Urban Outfitters Inc. [URBN]US2022.754511.4
Air Lease Corp. [AL]US1141.344481.4
Ritchie Bros Auctioneers Inc. [RBA]CA1333.224481.4
Valvoline Inc. [VVV]US2119.534171.3
Essent Group Ltd. [ESNT]BM946.994161.3
Forum Energy Technologies Inc. [FET]US1193.424061.3
Bank Ozk [OZK]US1330.094001.2
Natus Medical Inc. [BABY]US1625.693981.2
EnPro Industries Inc. [NPO]US663.843981.2
Gates Industrial Corp. plc [GTES]GB3511.413961.2
Continental Building Products Inc. [CBPX]US1526.573961.2
Kar Auction Services Inc. [KAR]US1625.003961.2
Party City Holdco Inc. [PRTY]US537.333891.2
Navient Corp. [NAVI]US2813.653861.2
Adient plc [ADNT]IE1524.273631.1
El Pollo Loco Holdings Inc. [LOCO]US3410.663621.1
Hunting plc ADR [HNTIY]GB546.503521.1
Silgan Holdings Inc. [SLGN]US1130.603491.1
Assured Guaranty Ltd. [AGO]BM842.083471.1
Resources Connection Inc. [RECN]US2116.013401.1
QTS Realty Trust Inc. [QTS]US746.183391.1
Post Holdings Inc. [POST]US3103.973211.0
Popular Inc. [BPOP]PR654.243151.0
Ascena Retail Group Inc. [ASNA]US5120.613121.0
Hancock Whitney Corp. [HWC]US840.063101.0
Glacier Bancorp Inc. [GBCI]US740.552960.9
Cathay General Bancorp [CATY]US835.912940.9
Whiting Petroleum Corp. [WLL]US1618.682940.9
Corecivic Inc. [CXW]US1420.762880.9
Liberty Latin America Ltd. [LILA]BM1617.232820.9
Total31,29997.0
Cash and Other Assets Less Liabilities3.0
Total Net Assets100%

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

As of Quarter Ended 06/30/2019
Economic SectorHarbor Small Cap Value Opportunities Fund %Russell 2000® Value Index %
Financials24.829.4
Industrials19.211.6
Consumer Discretionary15.28.5
Health Care8.44.0
Energy6.55.1
Real Estate5.512.3
Communication Services4.92.9
Consumer Staples4.82.4
Information Technology4.011.9
Materials2.44.2
Utilities1.57.6

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

As of Quarter Ended 06/30/2019
Sector ReturnsHarbor Small Cap Value Opportunities Fund %Russell 2000® Value Index %
Industrials9.86.4
Consumer Staples6.8-8.2
Financials6.05.3
Materials5.2-1.6
Real Estate4.11.4
Utilities3.35.3
Health Care1.9-5.0
Cash0.60.0
Communication Services-13.0-7.5
Energy-17.1-8.7
Information Technology-17.32.2
Consumer Discretionary-20.1-4.8

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