Harbor Mid Cap Value Fund Administrative Class (HRMVX)

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

Harbor Mid Cap Value FundRussell Midcap® Value Index
Number of Holdings190584
Weighted Avg. Market Cap ($Mil)12,477.1514,220.07
Median Market Cap ($Mil)5,293.517,474.14
Price/Book Ratio1.962.20
Adj. Trailing P/E Ratio15.9320.18
Forecasted P/E Ratio13.2117.66
Earnings Growth Rate (%)11.489.77
Proj. Earnings Growth Rate (%)7.768.63
Return on Equity (%)11.849.45
Turnover (unannualized % since 10/31)3-
Beta vs. Fund Benchmark1.08-

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
Ameriprise Financial Inc. [AMP]1.8
Public Service Enterprise Group Inc. [PEG]1.7
Valero Energy Corp. [VLO]1.6
Regions Financial Corp. [RF]1.5
SunTrust Banks Inc. [STI]1.4
FirstEnergy Corp. [FE]1.4
Spirit Aerosystems Holdings Inc. [SPR]1.4
Lincoln National Corp. [LNC]1.4
LAM Research Corp. [LRCX]1.3
Entergy Corp. [ETR]1.3
% of Total Holdings:14.8

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

Company Name [Ticker]CountryShares (000's)Current Price ($)Market Value ($000's)% of Net Assets
Ameriprise Financial Inc. [AMP]US111169.4718,8111.8
Public Service Enterprise Group Inc. [PEG]US34051.5017,5251.7
Valero Energy Corp. [VLO]US18391.9116,8561.6
Regions Financial Corp. [RF]US90517.2815,6441.5
SunTrust Banks Inc. [STI]US22564.5914,5391.4
FirstEnergy Corp. [FE]US46830.6214,3211.4
Spirit Aerosystems Holdings Inc. [SPR]US16187.2514,0561.4
Lincoln National Corp. [LNC]US18076.8713,8211.4
LAM Research Corp. [LRCX]US75184.0713,7681.3
Entergy Corp. [ETR]US16281.3913,2011.3
Eastman Chemical Co. [EMN]US14192.6413,0721.3
Discover Financial Services [DFS]US14476.9211,1071.1
Cummins Inc. [CMI]US61176.6410,8561.1
HCA Holdings Inc. [HCA]US11787.8410,2421.0
Host Hotels & Resorts Inc. [HST]US51219.8510,1671.0
KeyCorp [KEY]US49520.179,9881.0
Fifth Third Bancorp [FITB]US32830.349,9481.0
Huntsman Corp. [HUN]US29033.299,6440.9
United Continental Holdings Inc. [UAL]US13967.409,3890.9
Goodyear Tire & Rubber Co. [GT]US27732.318,9560.9
On Semiconductor Corp. [ON]US41020.948,5830.8
Hartford Financial Services Group Inc. [HIG]US15156.288,4870.8
Wyndham Worldwide Corp. [WYN]US73115.878,4700.8
Lear Corp. [LEA]US46176.668,1790.8
Kohl's Corp. [KSS]US15054.238,1130.8
American Airlines Group Inc. [AAL]US15452.038,0020.8
Senior Housing Properties Trust [SNH]US41119.157,8730.8
Celanese Corp. [CE]US73107.087,7950.8
Unum Group [UNM]US13954.897,6300.7
Lazard Ltd. [LAZ]BM14452.507,5670.7
Corning Inc. [GLW]US23631.997,5340.7
Annaly Capital Management Inc. [NLY]US62411.897,4190.7
Everest Re Group Ltd. [RE]BM33221.267,3900.7
JM Smucker Co. [SJM]US58124.247,1690.7
Wabash National Corp. [WNC]US32721.707,1050.7
Lexington Realty Trust [LXP]US7349.657,0780.7
JetBlue Airways Corp. [JBLU]US31622.347,0510.7
Tyson Foods Inc. [TSN]US8781.077,0450.7
Owens Corning Inc. [OC]US7791.947,0430.7
Huntington Ingalls Industries Inc. [HII]US30235.707,0000.7
Hospitality Properties Trust [HPT]US23029.856,8540.7
Flex Ltd. [FLEX]SG38017.996,8450.7
Whirlpool Corp. [WHR]US40168.646,7620.7
Reliance Steel & Aluminum Co. [RS]US7885.796,7350.7
NCR Corp. [NCR]US19833.996,7160.7
Brinker International Inc. [EAT]US17238.846,6650.7
CIT Group Inc. [CIT]US13549.236,6360.6
Laboratory Corp. of America Holdings [LH]US42159.516,6360.6
Juniper Networks Inc. [JNPR]US23328.506,6290.6
Kroger Co. [KR]US24027.456,5930.6
Applied Materials Inc. [AMAT]US12351.126,2980.6
Piedmont Office Realty Trust Inc. [PDM]US32119.616,2930.6
NetApp Inc. [NTAP]US11355.326,2290.6
Medical Properties Trust Inc. [MPW]US44613.786,1420.6
Pulte Group Inc. [PHM]US18333.256,1000.6
Oshkosh Corp. [OSK]US6790.896,0990.6
Best Buy Co. Inc. [BBY]US8968.476,0940.6
Seagate Technology plc [STX]IE14441.846,0170.6
Manpowergroup Inc. [MAN]US48126.116,0150.6
Murphy Oil Corp. [MUR]US19231.055,9740.6
Voya Financial Inc. [VOYA]US12049.475,9460.6
Marathon Petroleum Corp. [MPC]US9065.985,9250.6
Citizens Financial Group Inc. [CFG]US13841.985,8140.6
Alaska Air Group Inc. [ALK]US7973.515,8110.6
PBF Energy Inc. [PBF]US16435.455,8030.6
Cardinal Health Inc. [CAH]US9561.275,7960.6
OMEGA Healthcare Investors Inc. [OHI]US20927.545,7640.6
Zions Bancorporation [ZION]US11350.835,7640.6
Aflac Inc. [AFL]US6587.785,7140.6
Jazz Pharmaceuticals plc [JAZZ]IE41134.655,5480.5
Magellan Health Inc. [MGLN]US5796.555,5370.5
Xerox Corp. [XRX]US19029.155,5360.5
XL Group Ltd. [XL]BM15735.165,5060.5
Franklin Street Properties Corp. [FSP]US50810.745,4540.5
Scana Corp. [SCG]US13739.785,4430.5
Andeavor Corp. [ANDV]US47114.345,3850.5
Textron Inc. [TXT]US9456.595,3020.5
Cabot Corp. [CBT]US8661.595,2970.5
Ryder System Inc. [R]US6384.175,2860.5
Xenia Hotels & Resorts Inc. [XHR]US24521.595,2830.5
Select Income REIT [SIR]US21025.135,2730.5
Mack-Cali Realty Corp. [CLI]US24421.565,2500.5
Group 1 Automotive Inc. [GPI]US7470.975,2300.5
Edison International [EIX]US8263.245,2110.5
Western Digital Corp. [WDC]US6579.535,1850.5
Vereit Inc. [VER]US6637.795,1650.5
American Financial Group Inc. [AFG]US48108.545,1640.5
DDR Corp. [DDR]US5728.965,1290.5
Trinseo SA [TSE]LU7072.605,1110.5
Snap-on Inc. [SNA]US29174.305,1070.5
Summit Hotel Properties Inc. [INN]US33515.235,0960.5
Legg Mason Inc. [LM]US12141.985,0920.5
HP Inc. [HPQ]US24221.015,0910.5
Packaging Corp. of America [PKG]US42120.555,0630.5
CIGNA Corp. [CI]US25203.095,0370.5
Murphy USA Inc. [MUSA]US6180.364,9070.5
Domtar Corp. [UFS]US9949.524,8830.5
Teradyne Inc. [TER]US11641.874,8360.5
Amkor Technology Inc. [AMKR]US47510.054,7740.5
Gap Inc. [GPS]US13934.064,7310.5
Harley-Davidson Inc. [HOG]US9250.884,6610.5
Moog Inc. [MOG/A]US5386.854,6120.5
Foot Locker Inc. [FL]US9746.884,5330.4
Carter's Inc. [CRI]US38117.494,5230.4
Owens-Illinois Inc. [OI]US20122.174,4610.4
Ingredion Inc. [INGR]US32139.804,4320.4
Cirrus Logic Inc. [CRUS]US8551.864,4030.4
Atlas Air Worldwide Holdings Inc. [AAWW]US7458.654,3530.4
Orbital Atk Inc. [OA]US33131.504,3530.4
Western Union Co. [WU]US22819.014,3360.4
Briggs & Stratton Corp. [BGG]US17025.374,3180.4
Principal Financial Group Inc. [PFG]US6170.564,2900.4
Trinity Industries Inc. [TRN]US11137.464,1660.4
McDermott International Inc. [MDR]PA6306.584,1430.4
AMC Networks Inc. [AMCX]US7654.084,1210.4
Tech Data Corp. [TECD]US4297.974,0950.4
Piper Jaffray Cos. [PJC]US4786.254,0650.4
Assurant Inc. [AIZ]US40100.844,0440.4
Allstate Corp. [ALL]US38104.713,9890.4
Government Properties Income Trust [GOV]US21118.543,9120.4
The Children's Place Retail Stores Inc. [PLCE]US27145.353,8810.4
Radian Group Inc. [RDN]US18620.613,8310.4
Meritor Inc. [MTOR]US16223.463,7980.4
Universal Insurance Holdings Inc. [UVE]US13527.353,6810.4
Penske Automotive Group Inc. [PAG]US7747.853,6700.4
Validus Holdings Ltd. [VR]BM7846.923,6410.4
Cooper-Standard Holdings Inc. [CPS]US30122.503,6260.4
Mylan NV [MYL]NL8442.313,5750.3
Diamond Offshore Drilling Inc. [DO]US19018.593,5320.3
MGIC Investment Corp. [MTG]US24914.113,5190.3
A. Schulman Inc. [SHLM]US9037.253,3640.3
Dick's Sporting Goods Inc. [DKS]US11728.743,3540.3
Viacom Inc. [VIAB]US10930.813,3520.3
Meritage Homes Corp. [MTH]US6551.203,3380.3
Hersha Hospitality Trust [HT]US18917.403,2830.3
WestRock Co. [WRK]US5263.213,2740.3
Plantronics Inc. [PLT]US6550.383,2550.3
Banco Latinoamericano de Comercio Exterior SA [BLX]PA12026.903,2280.3
Vishay Intertechnology Inc. [VSH]US15420.753,2000.3
Sabra Health Care REIT Inc. [SBRA]US17018.773,1970.3
Timken Co. [TKR]US6549.153,1800.3
Nelnet Inc. [NNI]US5654.783,0950.3
TTM Technologies Inc. [TTMI]US19615.673,0750.3
PennyMac Mortgage Investment Trust [PMT]US19116.073,0740.3
AES Corp. [AES]US28310.833,0670.3
LifePoint Health Inc. [LPNT]US6149.803,0520.3
Invesco Mortgage Capital Inc. [IVR]US17117.833,0490.3
AGCO Corp. [AGCO]US4271.433,0360.3
Avnet Inc. [AVT]US7639.623,0270.3
Navient Corp. [NAVI]US22513.323,0000.3
Assured Guaranty Ltd. [AGO]BM8833.872,9940.3
Bunge Ltd. [BG]BM4467.082,9370.3
CA Inc. [CA]US8833.282,9190.3
Ethan Allen Interiors Inc. [ETH]US10128.602,9020.3
Netgear Inc. [NTGR]US4958.752,8960.3
Archer Daniels Midland Co. [ADM]US6840.082,7050.3
Aircastle Ltd. [AYR]BM11423.392,6570.3
Axis Capital Holdings Ltd. [AXS]BM5250.262,6080.3
Convergys Corp. [CVG]US11123.502,6030.3
Macy's Inc. [M]US10325.192,5900.3
Two Harbors Investment Corp. [TWO]US15816.262,5700.3
Lannett Co. Inc. [LCI]US11023.202,5550.2
Pitney Bowes Inc. [PBI]US22811.182,5500.2
Eagle Pharmaceuticals Inc. [EGRX]US4653.422,4540.2
Office Depot Inc. [ODP]US6783.542,3990.2
American Outdoor Brands Corp. [AOBC]US18412.842,3690.2
MFA Financial Inc. [MFA]US2987.922,3630.2
Triumph Group Inc. [TGI]US8627.202,3340.2
Tutor Perini Corp. [TPC]US8625.352,1900.2
Ingles Markets Inc. [IMKTA]US6234.602,1520.2
Rowan Cos. plc [RDC]GB13215.662,0640.2
Bed Bath & Beyond Inc. [BBBY]US9321.992,0410.2
Dillard's Inc. [DDS]US3460.052,0180.2
American Axle & Manufacturing Holdings Inc. [AXL]US11817.032,0130.2
Gannett Co. Inc. [GCI]US16511.591,9110.2
Finish Line Inc. [FINL]US12414.531,8000.2
CBL & Associates Properties Inc. [CBL]US2865.661,6200.2
GameStop Corp. [GME]US8917.951,5990.2
Supervalu Inc. [SVU]US7421.601,5940.2
Oceaneering International Inc. [OII]US7521.141,5810.2
TEGNA Inc. [TGNA]US9814.081,3870.1
Owens & Minor Inc. [OMI]US7318.881,3780.1
Maiden Holdings Ltd. [MHLD]BM1866.601,2310.1
Ship Finance International Ltd. [SFL]BM6615.501,0280.1
Amtrust Financial Services Inc. [AFSI]US8310.078360.1
Granite Point Mortgage Trust Inc. [GPMT]US3017.745310.1
RR Donnelley & Sons Co. [RRD]US559.305140.1
Dhi Group Inc. [DHX]US1911.903620.0
Lsc Communications Inc. [LKSD]US2115.153140.0
Universal Corp. [UVV]US152.50460.0
Total1,013,70499.0
Cash and Other Assets Less Liabilities1.0
Total Net Assets100%

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

As of Quarter Ended 12/31/2017
Economic SectorHarbor Mid Cap Value Fund %Russell Midcap® Value Index %
Financials23.220.3
Industrials14.312.2
Consumer Discretionary13.312.0
Information Technology12.56.1
Real Estate9.714.2
Materials6.75.6
Utilities5.710.3
Energy5.18.3
Health Care5.16.5
Consumer Staples3.44.0
Telecommunication Services0.00.5

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

As of Quarter Ended 12/31/2017
Sector ReturnsHarbor Mid Cap Value Fund %Russell Midcap® Value Index %
Energy15.97.2
Consumer Staples15.48.6
Consumer Discretionary9.16.8
Materials7.710.5
Financials6.97.1
Industrials5.16.9
Information Technology4.15.6
Health Care2.54.3
Utilities1.20.9
Cash0.30.0
Telecommunication Services0.0-8.5
Real Estate-0.81.9

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 Midcap® Value Index is an unmanaged index generally representative of the U.S. market for medium capitalization value stocks. This unmanaged index does not reflect fees and expenses and is not available for direct investment. The Russell Midcap® Value Index and Russell® are trademarks of Frank Russell Company.