Harbor Small Cap Value Opportunities Fund Institutional Class (HSOVX)

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

Harbor Small Cap Value Opportunities FundRussell 2000® Value Index
Number of Holdings591,366
Weighted Avg. Market Cap ($Mil)2,837.132,079.65
Median Market Cap ($Mil)2,729.82688.11
Price/Book Ratio1.441.51
Adj. Trailing P/E Ratio12.2714.22
Forecasted P/E Ratio14.9414.25
Earnings Growth Rate (%)11.638.30
Proj. Earnings Growth Rate (%)9.1910.09
Return on Equity (%)8.238.56
Turnover (unannualized % since 10/31)68-
Beta vs. Fund Benchmark1-

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
Diebold Nixdorf Inc. [DBD]4.7
Cars.com Inc. [CARS]3.9
Kar Auction Services Inc. [KAR]3.8
Beacon Roofing Supply Inc. [BECN]3.3
Stericycle Inc. [SRCL]2.8
Sterling Bancorp [STL]2.4
Dave & Buster's Entertainment Inc. [PLAY]2.4
Michaels Cos Inc. [MIK]2.4
Bank of NT Butterfield & Son Ltd. [NTB]2.2
Wintrust Financial Corp. [WTFC]2.2
% of Total Holdings:30.1

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

Company Name [Ticker]CountryShares (000's)Current Price ($)Market Value ($000's)% of Net Assets
Diebold Nixdorf Inc. [DBD]US14111.071,5614.7
Cars.com Inc. [CARS]US5722.801,2933.9
Kar Auction Services Inc. [KAR]US2451.311,2363.8
Beacon Roofing Supply Inc. [BECN]US3432.161,0953.3
Stericycle Inc. [SRCL]US1754.429172.8
Sterling Bancorp [STL]US4218.637902.4
Dave & Buster's Entertainment Inc. [PLAY]US1649.877822.4
Michaels Cos Inc. [MIK]US6811.427722.4
Bank of NT Butterfield & Son Ltd. [NTB]BM2035.887132.2
Wintrust Financial Corp. [WTFC]US1167.337112.2
WPX Energy Inc. [WPX]US5013.116592.0
Syneos Health Inc. [SYNH]US1351.766562.0
First Hawaiian Inc. [FHB]US2426.056301.9
Redwood Trust Inc. [RWT]US3816.156191.9
Outfront Media Inc. [OUT]US2623.406101.9
Forum Energy Technologies Inc. [FET]US1195.116061.8
Physicians Realty Trust [DOC]US3218.815961.8
Argo Group International Holdings Ltd. [ARGO]BM870.665941.8
e.l.f. Beauty Inc. [ELF]US5410.605771.8
Despegar.Com Corp. [DESP]VI3914.905751.8
Altra Industrial Motion Corp. [AIMCV]US1731.055431.7
Air Lease Corp. [AL]US1534.355321.6
Viper Energy Partners LP [VNOM]US1633.165221.6
Cadence Bancorp [CADE]US2818.555181.6
Genesee & Wyoming Inc. [GWR]US687.145161.6
Signet Jewelers Ltd. [SIG]BM1927.165091.5
Samsonite International SA ADR [SMSEY]LU3116.014921.5
Artisan Partners Asset Management Inc. [APAM]US1925.174901.5
QTS Realty Trust Inc. [QTS]US1144.994881.5
Northwestern Corp. [NWE]US770.414681.4
Fgl Holdings [FG]KY597.874651.4
Mednax Inc. [MD]US1727.174551.4
Resources Connection Inc. [RECN]US2816.544551.4
Essent Group Ltd. [ESNT]BM1043.454501.4
Ritchie Bros Auctioneers Inc. [RBA]CA1334.004441.4
Silgan Holdings Inc. [SLGN]US1429.634271.3
Oasis Petroleum Inc. [OAS]US706.044231.3
Ascena Retail Group Inc. [ASNA]US3911.084221.3
Hunting plc ADR [HNTIY]GB547.754191.3
EnPro Industries Inc. [NPO]US664.454021.2
Valvoline Inc. [VVV]US2118.563961.2
Acadia Healthcare Co. Inc. [ACHC]US1329.313951.2
Natus Medical Inc. [BABY]US1625.383931.2
Bank Ozk [OZK]US1328.983851.2
Integra LifeSciences Holdings Corp. [IART]US755.723761.1
Whiting Petroleum Corp. [WLL]US1426.143751.1
Continental Building Products Inc. [CBPX]US1524.793691.1
Assured Guaranty Ltd. [AGO]BM844.433671.1
Corecivic Inc. [CXW]US1819.453551.1
Post Holdings Inc. [POST]US3109.403381.0
Navient Corp. [NAVI]US2811.573271.0
Party City Holdco Inc. [PRTY]US407.943191.0
Liberty Latin America Ltd. [LILA]BM1619.343171.0
Hancock Whitney Corp. [HWC]US840.403131.0
Popular Inc. [BPOP]PR652.133020.9
Glacier Bancorp Inc. [GBCI]US740.072930.9
Cathay General Bancorp [CATY]US833.912780.8
Urban Outfitters Inc. [URBN]US929.642640.8
TreeHouse Foods Inc. [THS]US464.552580.8
Total31,85297.2
Cash and Other Assets Less Liabilities2.8
Total Net Assets100%

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

As of Quarter Ended 03/31/2019
Economic SectorHarbor Small Cap Value Opportunities Fund %Russell 2000® Value Index %
Financials25.128.2
Industrials19.811.3
Consumer Discretionary12.69.2
Energy9.15.7
Health Care6.94.3
Real Estate6.212.4
Communication Services4.93.2
Information Technology4.711.5
Consumer Staples3.62.6
Materials2.54.3
Utilities1.47.3

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

As of Quarter Ended 03/31/2019
Sector ReturnsHarbor Small Cap Value Opportunities Fund %Russell 2000® Value Index %
Information Technology302.519.4
Consumer Staples28.87.8
Real Estate22.416.9
Energy20.218.6
Utilities19.410.6
Industrials16.410.1
Health Care13.29.1
Financials13.28.0
Materials11.616.8
Communication Services11.414.4
Cash0.60.0
Consumer Discretionary-11.18.4

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.