Harbor International Growth Fund Investor Class (HIIGX)

Portfolio Characteristics (As of Quarter Ended 03/31/2018)

Harbor International Growth FundMSCI All Country World Ex. US (ND) Index
Number of Holdings781,864
Weighted Avg. Market Cap ($Mil)49,371.1870,084.90
Median Market Cap ($Mil)14,811.629,211.17
Price/Book Ratio5.031.93
Adj. Trailing P/E Ratio26.8616.35
Forecasted P/E Ratio23.2313.81
Earnings Growth Rate (%)14.4611.45
Proj. Earnings Growth Rate (%)14.0613.53
Return on Equity (%)18.5613.06
Turnover (unannualized % since 10/31)14-
Beta vs. Fund Benchmark0.99-

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

Top Ten Holdings (As of Quarter Ended 03/31/2018)

Company Name [Ticker]% of Net Assets
Taiwan Semiconductor Manufacturing Co. Ltd. ADR [TSM]3.0
Naspers Ltd. [NPN]2.8
Alibaba Group Holding Ltd. ADR [BABA]2.7
Hargreaves Lansdown plc [HL/]2.4
Shiseido Co. Ltd. [4911]2.3
Cochlear Ltd. [COH]2.2
Zalando Se [ZAL]2.0
Novozymes AS [NZYM B]2.0
United Overseas Bank Ltd. [U11]1.9
Adidas AG [ADS]1.9
% of Total Holdings:23.2

Full Holdings (As of Quarter Ended 03/31/2018)

Company Name [Ticker]CountryShares (000's)Current Price ($)Market Value ($000's)% of Net Assets
Taiwan Semiconductor Manufacturing Co. Ltd. ADR [TSM]TW38643.7616,8843.0
Naspers Ltd. [NPN]ZA64244.7115,6332.8
Alibaba Group Holding Ltd. ADR [BABA]CN82183.5414,9602.7
Hargreaves Lansdown plc [HL/]GB59922.9513,7582.4
Shiseido Co. Ltd. [4911]JP20564.2213,1392.3
Cochlear Ltd. [COH]AU89140.4512,4732.2
Zalando Se [ZAL]DE21054.5711,4682.0
Novozymes AS [NZYM B]DK21252.0611,0202.0
United Overseas Bank Ltd. [U11]SG52021.0410,9401.9
Adidas AG [ADS]DE44243.3010,7471.9
Industria de Diseno Textil SA [ITX]ES33631.4410,5711.9
MS&AD Insurance Group Holdings Inc. [8725]JP33531.0610,4061.8
AIA Group Ltd. [1299]HK1,1898.5510,1641.8
Rightmove plc [RMV]GB16661.0410,1281.8
Asos plc [ASC3]GB10197.839,8761.8
SMC Corp. [6273]JP24406.809,6411.7
Baidu Inc. ADR [BIDU]CN43223.199,5371.7
Infineon Technologies AG [IFX]DE34226.899,1931.6
Mettler-Toledo International Inc. [MTD]CH16575.039,0811.6
CIE Financiere Richemont SA [CFR]CH10089.868,9461.6
Pigeon Corp. [7956]JP19645.188,8561.6
ASML Holding NV [ASML]NL44198.298,7621.6
Legrand SA [LR]FR11178.468,7131.5
JD.Com Inc. ADR [JD]CN21440.498,6801.5
Clicks Group Ltd. [CLS]ZA55915.458,6391.5
Jeronimo Martins SGPS SA [JMT]PT45718.198,3061.5
Raia Drogasil SA [RADL3]BR35922.668,1271.4
Schindler Holding AG [SCHP]CH37215.778,0821.4
Svenska Handelsbanken AB [SHBA]SE62212.527,7791.4
KAO Corp. [4452]JP10375.077,7181.4
Investor AB [INVE B_SEK]SE17244.427,6251.4
Asian Paints Ltd. [ASIANPAINT]IN44017.247,5861.3
Samsung Fire & Marine Insurance Co. Ltd. [A000810]KR29252.287,4081.3
Treasury Wine Estates Ltd. [TWE]AU55913.077,3051.3
Johnson Matthey plc [JMAT]GB16142.666,8671.2
Housing Development Finance Corp. Ltd. [HDFC]IN24428.106,8431.2
Intertek Group plc [ITRK]GB10465.466,7751.2
Auto Trader Group plc [AUTO]GB1,3664.926,7161.2
Ctrip.com International Ltd. ADR [CTRP]CN14346.626,6571.2
Atlas Copco AB Class A [ATCOA]SE15243.436,6221.2
Kakaku.com Inc. [2371]JP37217.706,5801.2
Sartorius AG [SRT3]DE47139.946,5181.2
Shimano Inc. [7309]JP44144.316,3931.1
Kone OYJ [KNEBV]FI12849.916,3701.1
Seek Ltd. [SEK]AU43614.426,2851.1
Olympus Corp. [7733]JP16338.246,2441.1
Mahindra & Mahindra Ltd. GDR [MHID]IN53711.526,1921.1
Public Bank BHD [PBBANK]MY9906.226,1521.1
Atlas Copco AB Class B [ATCOB]SE15639.056,0971.1
Tsingtao Brewery Co. Ltd. [168]CN1,1145.255,8501.0
Fairfax Financial Holdings Ltd. [FFH]CA11506.905,7881.0
Nidec Corp. [6594]JP38153.915,7721.0
Brambles Ltd. [BXB]AU7347.725,6681.0
Shopify Inc. [SHOP]CA45124.595,5961.0
Novo Nordisk AS [NOVOB]DK11149.195,4461.0
Burberry Group plc [BRBY]GB22823.845,4421.0
Jupiter Fund Management plc [JUP]GB7966.635,2760.9
Hon Hai Precision Industry Co. Ltd. GDR [HHPD]TW8466.225,2640.9
Samsung Electronics Co. Ltd. [005930]KR22336.485,2060.9
Denso Corp. [6902]JP9155.005,0220.9
Advantest Corp. [6857]JP23621.034,9610.9
Softbank Group Corp. [9984]JP6174.594,5580.8
Jardine Strategic Holdings Ltd. [J37]SG11338.444,3560.8
Jardine Matheson Holdings Ltd. [J36]SG6361.633,9070.7
Homeserve plc [HSV]GB37410.373,8770.7
Naver Corp. [A035420]KR5744.223,6550.6
Wal-Mart de Mexico SAB de CV [WALMEX *]MX1,3162.533,3300.6
Suruga Bank Ltd. [8358]JP22914.033,2080.6
Sugi Holdings Co. Ltd. [7649]JP5756.323,2040.6
Thai Beverage PCL [Y92]TH5,2820.603,1500.6
Weir Group plc [WEIR]GB10728.033,0080.5
Distribuidora Internacional de Alimentacion SA [DIA]ES6924.252,9390.5
MakeMyTrip Ltd. [MMYT]IN7734.702,6750.5
Puregold Price Club Inc. [PGOLD]PH2,5751.002,5870.5
John Wood Group plc [WG/]GB3357.602,5480.5
U-Blox Holding AG [UBXN]CH14180.172,5430.5
Magnit PJSC GDR [MGNT]RU8118.551,4990.3
Mesoblast Ltd. [MSB]AU2071.152390.0
Total556,03698.7
Cash and Other Assets Less Liabilities1.3
Total Net Assets100%

Sector Allocation (As of Quarter Ended 03/31/2018)

As of Quarter Ended 03/31/2018
Economic SectorHarbor International Growth Fund %MSCI All Country World Ex. US (ND) Index %
Information Technology19.511.8
Consumer Discretionary19.211.4
Financials16.923.2
Industrials15.111.8
Consumer Staples15.09.5
Health Care7.17.7
Materials4.58.0
Telecommunication Services0.83.9
Energy0.56.7
Utilities0.03.0
Real Estate0.03.2

Sector Returns (As of Quarter Ended 03/31/2018)

As of Quarter Ended 03/31/2018
Sector ReturnsHarbor International Growth Fund %MSCI All Country World Ex. US (ND) Index %
Information Technology2.61.4
Consumer Staples2.5-2.9
Real Estate0.0-1.8
Utilities0.01.4
Health Care-0.40.0
Cash-0.60.0
Consumer Discretionary-1.2-1.1
Financials-3.2-1.0
Industrials-3.6-1.8
Materials-4.3-3.1
Telecommunication Services-7.0-4.3
Energy-13.8-1.7

Country Allocation (As of Quarter Ended 03/31/2018)

As of Quarter Ended 03/31/2018
CountryHarbor International Growth Fund %MSCI All Country World Ex. US (ND) Index %
Japan17.016.7
United Kingdom13.212.2
China8.17.6
Germany6.76.6
Australia5.74.2
Switzerland5.15.3
Sweden5.01.8
South Africa4.31.7
India4.12.1
Taiwan3.93.0
Other26.938.8

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.

All holdings-related data except for Number of Holdings, Turnover, Beta vs Fund Benchmark, Top Holdings, Sector Allocation (for the Portfolio) and Country Allocation (for the Portfolio) is provided by FactSet, and is as of 03/29/2018.

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.