Harbor Commodity Real Return Strategy Fund Administrative Class (HCMRX)

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Portfolio Characteristics (As of Quarter Ended 09/30/2017)

Harbor Commodity Real Return Strategy FundBloomberg Commodity Index Total ReturnSM
Number of Issues85-
Average Market Coupon (%)1.45-
Yield to Maturity (%)2.39-
Weighted Avg. Maturity (yrs)3.12-
Weighted Avg. Duration (yrs)3.15-

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

Top Ten Holdings (As of Quarter Ended 09/30/2017)

SecuritiesMaturity DateCoupon Rate (%)Market Value ($000's)% of Net Assets
U.S. Treasury Inflation Indexed Bonds07/15/20191.97,64515.1
U.S. Treasury Inflation Indexed Bonds04/15/20190.16,67113.2
U.S. Treasury Inflation Indexed Bonds04/15/20200.15,68611.2
U.S. Treasury Inflation Indexed Bonds04/15/20210.14,7009.3
U.S. Treasury Inflation Indexed Bonds07/15/20201.23,9797.8
U.S. Treasury Inflation Indexed Bonds01/15/20252.43,9567.8
U.S. Treasury Inflation Indexed Bonds07/15/20220.13,5877.1
U.S. Treasury Inflation Indexed Bonds07/15/20230.43,4326.8
U.S. Treasury Inflation Indexed Bonds07/15/20240.13,0115.9
U.S. Treasury Inflation Indexed Bonds07/15/20181.42,8505.6
% of Total Holdings:45,51789.8

Full Holdings (As of Quarter Ended 09/30/2017)

SecuritiesMaturity DateCoupon Rate (%)Market Value ($000's)% of Net Assets
U.S. Treasury Inflation Indexed Bonds07/15/20191.97,64515.1
U.S. Treasury Inflation Indexed Bonds04/15/20190.16,67113.2
U.S. Treasury Inflation Indexed Bonds04/15/20200.15,68611.2
U.S. Treasury Inflation Indexed Bonds04/15/20210.14,7009.3
U.S. Treasury Inflation Indexed Bonds07/15/20201.23,9797.8
U.S. Treasury Inflation Indexed Bonds01/15/20252.43,9567.8
U.S. Treasury Inflation Indexed Bonds07/15/20220.13,5877.1
U.S. Treasury Inflation Indexed Bonds07/15/20230.43,4326.8
U.S. Treasury Inflation Indexed Bonds07/15/20240.13,0115.9
U.S. Treasury Inflation Indexed Bonds07/15/20181.42,8505.6
U.K. Gilt Inflation Linked03/22/20260.12,4804.9
Brazil Letras Do Tesouro Nacional01/01/20180.02,2344.4
U.S. Treasury Inflation Indexed Bonds01/15/20250.22,0264.0
U.S. Treasury Inflation Indexed Bonds01/15/20240.61,7363.4
U.S. Treasury Inflation Indexed Bonds07/15/20210.61,6183.2
Federal National Mortgage Association TBA10/12/20473.51,5463.0
Federal National Mortgage Association TBA12/13/20473.51,5403.0
UBS Group Funding Jersey Ltd.04/14/20213.11,0362.0
New Zealand Government Bond09/20/20252.09301.8
Italy Buoni Poliennali del Tesoro05/15/20220.17341.4
U.S. Treasury Inflation Indexed Bonds07/15/20250.47231.4
U.S. Treasury Notes05/15/20473.06791.3
U.S. Treasury Inflation Indexed Bonds01/15/20292.56611.3
People's Choice Home Loan Securities Trust01/25/20352.65791.1
Deutsche Bank AG10/14/20214.24190.8
U.S. Treasury Notes07/31/20242.13990.8
SLM Student Loan Trust12/15/20230.03890.8
Venture CDO Ltd01/20/20221.53330.7
Morgan Stanley ABS Capital I Inc. Trust10/25/20361.42940.6
Credit Suisse Group Funding Guernsey Ltd.09/15/20223.82600.5
Federal National Mortgage Association02/01/20414.02520.5
Royal Bank of Scotland plc MTN04/09/20186.92450.5
U.K. Gilt Inflation Linked11/22/20650.12370.5
Sse plc10/01/20175.62360.5
International Lease Finance Corp.12/15/20208.22340.5
Bear Stearns Asset Backed Securities Trust07/25/20361.72210.4
Argentine Republic Government International Bond01/26/20276.92170.4
Small Business Administration Participation Certificates11/01/20275.52160.4
Petrobras Global Finance BV01/17/20226.12150.4
U.S. Treasury Inflation Indexed Bonds01/15/20230.12120.4
Ally Financial Inc.05/21/20183.62020.4
Spectra Energy Partners LP06/05/20202.02020.4
Enbridge Inc.06/15/20202.02020.4
Unibail-Rodamco SE MTN04/16/20192.12010.4
John Deere Capital Corp. MTN06/22/20201.62000.4
U.S. Treasury Inflation Indexed Bonds02/15/20470.92000.4
U.S. Treasury Notes08/15/20272.21990.4
Petrobras Global Finance BV05/20/20234.41980.4
Soundview Home Loan Trust05/25/20361.51820.4
Nykredit Realkredit A/S10/01/20172.01590.3
BG Energy Capital plc11/30/20726.51350.3
Peru Government Bond08/12/20326.21290.3
Autonomous Community of Catalonia02/11/20205.01240.2
MASTR Asset Backed Securities Trust06/25/20361.51200.2
French Republic Government Bond Oat07/25/20221.11170.2
Australia Government Bond09/20/20253.01090.2
Navient Corp. MTN01/15/20195.51040.2
ING Bank NV MTN12/05/20222.61010.2
AT&T Inc.01/15/20202.01010.2
American Honda Finance Corp. MTN11/05/20211.71000.2
BAT Capital Corp08/14/20201.91000.2
Macquarie Bank Ltd. MTN04/04/20191.71000.2
U.S. Treasury Notes04/30/20221.91000.2
Morgan Stanley Mortgage Loan Trust06/25/20363.1990.2
Student Loan Marketing Association Student Loan Marketing Association06/17/20301.9970.2
Navient Student Loan Trust03/25/20662.4920.2
Nordea Kredit Realkreditaktieselskab10/01/20172.0790.2
Realkredit Danmark AS MTN10/01/20472.5760.1
Nykredit Realkredit AS10/01/20472.5740.1
Brfkredit A/S10/01/20172.0640.1
Morgan Stanley ABS Capital I Inc. Trust10/25/20361.3610.1
Argentina Pom Politica Monetaria06/21/202026.2610.1
Nordea Kredit Realkreditaktieselskab10/01/20171.0480.1
Brfkredit AS01/01/20184.0320.1
Realkredit Danmark AS04/01/20181.0320.1
U.K. Gilt Inflation Linked11/22/20560.1280.1
Bear Stearns Adjustable Rate Mortgage Trust02/25/20363.4260.1
U.K. Gilt Inflation Linked03/22/20460.1240.0
Countrywide Asset-Backed Certificates04/25/20364.0160.0
Nordea Kredit Realkreditaktieselskab10/01/20172.0160.0
Brfkredit AS10/01/20472.5150.0
Nordea Kredit Realkreditaktieselskab10/01/20472.5150.0
Nykredit Realkredit AS10/01/20473.0130.0
U.S. Treasury Inflation Indexed Bonds02/15/20441.4120.0
First Horizon Alternative Mortgage Securities Trust02/25/20376.0100.0
Total72,793143.2
Cash and Other Assets Less Liabilities-43.2
Total Net Assets100%

Sector Allocation (As of Quarter Ended 09/30/2017)

As of Quarter Ended 09/30/2017
Economic SectorHarbor Commodity Real Return Strategy Fund %
U.S. Government Obligations106.7
Foreign Government Obligations14.6
Corporate Bonds & Notes10.3
Mortgage Pass-through6.6
Asset-backed Securities5.1
Collateralized Mortgage Obligations0.3

Benchmark Sectors (As of Quarter Ended 09/30/2017)

As of Quarter Ended 09/30/2017
Economic SectorBloomberg Commodity Index Total ReturnSM %
Energy29.1
Grains20.5
Industrial Metals20.0
Precious Metals16.2
Livestock5.9
Softs5.7
Vegetable Oil2.6

Maturity Profile (As of Quarter Ended 09/30/2017)

As of Quarter Ended 09/30/2017
MaturityHarbor Commodity Real Return Strategy Fund %
0-1 yr1.9
1-3 yr62.7
3-5 yr19.7
5-7 yr4.6
7-10 yr17.7
10-20 yr-5.5
20-30 yr-1.2
Over 30 yr0.1

Duration (As of Quarter Ended 09/30/2017)

As of Quarter Ended 09/30/2017
DurationHarbor Commodity Real Return Strategy Fund %
0-1 yr1.9
1-3 yr36.0
3-5 yr13.5
5-7 yr63.2
7-10 yr-8.8
10-20 yr3.5
20-30 yr-17.1
Over 30 yr7.8

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 Bloomberg Commodity Index Total ReturnSM is a broadly diversified index that tracks the commodities markets through commodity futures contracts.