Harbor International Growth Fund Administrative Class (HRIGX)

Portfolio Characteristics (As of Quarter Ended 12/31/2017)

Harbor International Growth FundMSCI All Country World Ex. US (ND) Index
Number of Holdings831,866
Weighted Avg. Market Cap ($Mil)48,758.6171,544.26
Median Market Cap ($Mil)15,846.789,277.45
Price/Book Ratio4.962.11
Adj. Trailing P/E Ratio28.6418.33
Forecasted P/E Ratio23.3415.38
Earnings Growth Rate (%)13.407.16
Proj. Earnings Growth Rate (%)13.9814.95
Return on Equity (%)16.7412.25
Turnover (unannualized % since 10/31)6-
Beta vs. Fund Benchmark0.98-

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

Top Ten Holdings (As of Quarter Ended 12/31/2017)

Company Name [Ticker]% of Net Assets
Naspers Ltd. [NPN]3.1
Taiwan Semiconductor Manufacturing Co. Ltd. ADR [TSM]2.7
Hargreaves Lansdown plc [HL/]2.5
KAO Corp. [4452]2.1
Novo Nordisk AS [NOVOB]2.1
Cochlear Ltd. [COH]2.1
Industria de Diseno Textil SA [ITX]2.1
MS&AD Insurance Group Holdings Inc. [8725]2.0
Zalando Se [ZAL]2.0
United Overseas Bank Ltd. [U11]1.9
% of Total Holdings:22.6

Full Holdings (As of Quarter Ended 12/31/2017)

Company Name [Ticker]CountryShares (000's)Current Price ($)Market Value ($000's)% of Net Assets
Naspers Ltd. [NPN]ZA47277.0512,9473.1
Taiwan Semiconductor Manufacturing Co. Ltd. ADR [TSM]TW28239.6511,1852.7
Hargreaves Lansdown plc [HL.]GB42824.2910,3962.5
KAO Corp. [4452]JP13167.578,8382.1
Novo Nordisk AS [NOVOB]DK16353.748,7442.1
Cochlear Ltd. [COH]AU65133.308,7202.1
Industria de Diseno Textil SA [ITX]ES24934.778,6682.1
MS&AD Insurance Group Holdings Inc. [8725]JP23933.738,0722.0
Zalando Se [ZAL]DE15252.738,0412.0
United Overseas Bank Ltd. [U11]SG38719.717,6221.9
Alibaba Group Holding Ltd. ADR [BABA]CN44172.437,5821.8
Rightmove plc [RMV]GB12360.697,4481.8
Baidu Inc. ADR [BIDU]CN32234.217,3941.8
Shiseido Co. Ltd. [4911]JP15048.197,2081.8
SMC Corp. [6273]JP18410.387,1821.7
Mettler-Toledo International Inc. [MTD]CH11619.527,1181.7
Novozymes AS [NZYM B]DK12357.097,0361.7
Carlsberg AS [CARL B]DK55119.946,5801.6
Asos plc [ASC]GB7390.226,5771.6
Jeronimo Martins SGPS SA [JMT]PT33119.426,4361.6
Adidas AG [ADS]DE32199.996,3791.5
Schindler Holding AG [SCHP]CH27229.996,3221.5
Legrand SA [LR]FR8176.886,2631.5
Svenska Handelsbanken AB [SHBA]SE45713.676,2481.5
AIA Group Ltd. [1299]HK7168.516,0871.5
Atlas Copco AB Class B [ATCOB]SE15638.335,9851.5
Clicks Group Ltd. [CLS]ZA40914.615,9821.5
Tsingtao Brewery Co. Ltd. [168]CN1,1145.155,7371.4
Nestlé SA [NESN]CH6685.985,7151.4
Investor AB [INVE B_SEK]SE12245.615,5741.4
Pigeon Corp. [7956]JP14138.005,3461.3
Samsung Fire & Marine Insurance Co. Ltd. [A000810]KR21249.345,3001.3
Intertek Group plc [ITRK]GB7569.935,2521.3
Treasury Wine Estates Ltd. [TWE]AU40112.414,9781.2
CIE Financiere Richemont SA [CFR]CH5590.574,9411.2
Johnson Matthey plc [JMAT]GB11841.444,8841.2
Kone OYJ [KNEBV]FI9053.704,8361.2
Raia Drogasil SA [RADL3]BR17427.664,8021.2
Jupiter Fund Management plc [JUP]GB5638.464,7631.2
Infineon Technologies AG [IFX]DE17327.234,7171.1
Auto Trader Group plc [AUTO]GB9834.754,6701.1
Shimano Inc. [7309]JP33140.564,6671.1
Olympus Corp. [7733]JP12138.254,6371.1
Seek Ltd. [SEK]AU31114.794,5921.1
Kakaku.com Inc. [2371]JP27016.884,5651.1
Mahindra & Mahindra Ltd. GDR [MHID]IN19523.214,5261.1
Ctrip.com International Ltd. ADR [CTRP]CN10044.104,4271.1
Fairfax Financial Holdings Ltd. [FFH]CA8532.494,3451.1
Brambles Ltd. [BXB]AU5377.844,2081.0
JD.Com Inc. ADR [JD]CN10141.424,1791.0
Denso Corp. [6902]JP6759.914,0381.0
Burberry Group plc [BRBY]GB16624.113,9911.0
Hon Hai Precision Industry Co. Ltd. GDR [HHPD]TW6196.283,8870.9
Jardine Matheson Holdings Ltd. [J36]SG6360.673,8470.9
Samsung Electronics Co. Ltd. [A005930]KR22375.913,8300.9
Public Bank BHD [PBBANK]MY7315.133,7520.9
Asian Paints Ltd. [ASIANPAINT]IN20418.153,7010.9
Suruga Bank Ltd. [8358]JP17021.383,6370.9
Softbank Group Corp. [9984]JP4579.173,5630.9
ASML Holding NV [ASML]NL20173.863,5600.9
Delta Electronics Inc. [2308]TW7044.803,3820.8
Atlas Copco AB Class A [ATCOA]SE7643.163,2950.8
Housing Development Finance Corp. Ltd. [HDFC]IN11826.783,1650.8
Advantest Corp. [6857]JP17018.453,1270.8
Rakuten Inc. [4755]JP3289.143,0000.7
Japan Exchange Group Inc. [8697]JP16817.352,9080.7
Naver Corp. [A035420]KR4812.382,8430.7
Capita plc [CPI]GB5135.402,7730.7
Thai Beverage PCL [Y92]TH3,9740.692,7330.7
Distribuidora Internacional de Alimentacion SA [DIA]ES5065.162,6100.6
Wal-Mart de Mexico SAB de CV [WALMEX *]MX9352.452,2920.6
Weir Group plc [WEIR]GB7828.612,2400.5
John Wood Group plc [WG.]GB2518.752,1930.5
Shopify Inc. [SHOP]CA22101.002,1910.5
Sugi Holdings Co. Ltd. [7649]JP4350.942,1850.5
Jardine Strategic Holdings Ltd. [J37]SG5239.552,0680.5
Puregold Price Club Inc. [PGOLD]PH1,8801.001,8820.5
Sartorius AG [SRT3]DE1994.991,7920.4
MakeMyTrip Ltd. [MMYT]IN5629.851,6600.4
Magnit PJSC GDR [MGNT]RU5927.221,6160.4
Cafe de Coral Holdings Ltd. [341]HK4982.741,3670.3
U-Blox Holding AG [UBXN]CH6196.541,2040.3
Mesoblast Ltd. [MSB]AU2971.143380.1
Total409,39199.4
Cash and Other Assets Less Liabilities0.6
Total Net Assets100%

Sector Allocation (As of Quarter Ended 12/31/2017)

As of Quarter Ended 12/31/2017
Economic SectorHarbor International Growth Fund %MSCI All Country World Ex. US (ND) Index %
Consumer Discretionary19.311.3
Consumer Staples18.29.6
Financials17.523.2
Information Technology17.411.5
Industrials14.311.9
Health Care7.67.6
Materials3.88.1
Telecommunication Services0.94.0
Energy0.56.7
Real Estate0.03.2
Utilities0.02.9

Sector Returns (As of Quarter Ended 12/31/2017)

As of Quarter Ended 12/31/2017
Sector ReturnsHarbor International Growth Fund %MSCI All Country World Ex. US (ND) Index %
Consumer Staples9.55.5
Health Care7.11.3
Financials5.84.6
Consumer Discretionary3.86.1
Industrials3.54.8
Materials3.18.5
Information Technology2.96.2
Cash0.80.0
Real Estate0.05.6
Utilities0.0-0.3
Energy-3.77.5
Telecommunication Services-9.71.5

Country Allocation (As of Quarter Ended 12/31/2017)

As of Quarter Ended 12/31/2017
CountryHarbor International Growth Fund %MSCI All Country World Ex. US (ND) Index %
Japan17.716.5
United Kingdom13.412.6
China7.17.4
Switzerland6.15.5
Australia5.54.4
Denmark5.41.3
Sweden5.11.8
Germany5.16.7
South Africa4.61.8
Taiwan4.52.8
Other25.539.2

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.