Harbor Small Cap Value Fund Investor Class (HISVX)

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

Harbor Small Cap Value FundRussell 2000® Value Index
Number of Holdings561,396
Weighted Avg. Market Cap ($Mil)4,766.971,961.96
Median Market Cap ($Mil)3,128.88728.29
Price/Book Ratio3.001.67
Adj. Trailing P/E Ratio25.8819.42
Forecasted P/E Ratio20.5417.77
Earnings Growth Rate (%)6.137.64
Proj. Earnings Growth Rate (%)13.049.18
Return on Equity (%)12.507.34
Turnover (unannualized % since 10/31)4-
Beta vs. Fund Benchmark0.86-

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

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

Company Name [Ticker]% of Net Assets
Coherent Inc. [COHR]4.0
Entegris Inc. [ENTG]3.6
Advanced Energy Industries Inc. [AEIS]3.3
Hexcel Corp. [HXL]3.1
Global Payments Inc. [GPN]3.0
Monolithic Power Systems Inc. [MPWR]3.0
Littelfuse Inc. [LFUS]2.6
Centene Corp. [CNC]2.4
Catalent Inc. [CTLT]2.4
Raymond James Financial Inc. [RJF]2.3
% of Total Holdings:29.7

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

Company Name [Ticker]CountryShares (000's)Current Price ($)Market Value ($000's)% of Net Assets
Coherent Inc. [COHR]US191235.1744,8234.0
Entegris Inc. [ENTG]US1,39828.8540,3443.6
Advanced Energy Industries Inc. [AEIS]US45480.7636,6513.3
Hexcel Corp. [HXL]US60457.4234,6893.1
Global Payments Inc. [GPN]US35495.0333,6863.0
Monolithic Power Systems Inc. [MPWR]US315106.5533,5703.0
Littelfuse Inc. [LFUS]US150195.8829,4682.6
Centene Corp. [CNC]US27796.7726,8202.4
Catalent Inc. [CTLT]US66939.9226,6882.4
Raymond James Financial Inc. [RJF]US31084.3326,1492.3
Snap-on Inc. [SNA]US166149.0124,7622.2
Mueller Water Products Inc. [MWA]US1,91812.8024,5482.2
Cabot Microelectronics Corp. [CCMP]US30579.9324,3832.2
EnerSys [ENS]US35169.1724,3102.2
WGL Holdings Inc. [WGL]US28884.2024,2542.2
Teledyne Technologies Inc. [TDY]US151159.1824,1012.2
Reinsurance Group of America Inc. [RGA]US171139.5323,9202.1
Franklin Electric Co. Inc. [FELE]US53244.8523,8442.1
Scotts Miracle-Gro Co. [SMG]US23797.3423,0252.1
Timken Co. [TKR]US46848.5522,7212.0
OSI Systems Inc. [OSIS]US24591.3722,3932.0
Firstcash Inc. [FCFS]US32563.1520,4961.8
Altra Industrial Motion Corp. [AIMC]US39648.1019,0621.7
SBA Communications Corp. [SBAC]US131144.0518,9131.7
Cantel Medical Corp. [CMD]US19494.1718,2561.6
GATX Corp. [GATX]US29661.5618,2491.6
Meritage Homes Corp. [MTH]US39744.4017,6131.6
South Jersey Industries Inc. [SJI]US49734.5317,1611.5
FLIR Systems Inc. [FLIR]US44038.9117,1151.5
Cabot Corp. [CBT]US30055.8016,7181.5
United Fire Group Inc. [UFCS]US36245.8216,5961.5
Moog Inc. [MOG/A]US19983.4316,5701.5
Sanmina Corp. [SANM]US44337.1516,4711.5
Core Laboratories NV [CLB]US16698.7016,3491.5
Darling Ingredients Inc. [DAR]US93217.5216,3281.5
ManTech International Corp. [MANT]US36944.1516,2781.5
American Equity Investment Life Holding Co. [AEL]US55329.0816,0761.4
Trustmark Corp. [TRMK]US47833.1215,8201.4
Bloomin' Brands Inc. [BLMN]US86117.6015,1581.4
Albany International Corp. [AIN]US26257.4015,0681.3
Stifel Financial Corp. [SF]US27353.4614,6051.3
Oil States International Inc. [OIS]US53725.3513,6221.2
Eaton Vance Corp. [EV]US27349.3713,4971.2
Horace Mann Educators Corp. [HMN]US32639.3512,8311.1
Mednax Inc. [MD]US29743.1212,8161.1
Wesbanco Inc. [WSBC]US29741.0212,1811.1
Medical Properties Trust Inc. [MPW]US90513.1311,8881.1
Pdc Energy Inc. [PDCE]US24249.0311,8701.1
EastGroup Properties Inc. [EGP]US12788.1211,1601.0
Molina Healthcare Inc. [MOH]US15768.7610,8121.0
Astoria Financial Corp. [AF]US49421.5010,6160.9
United Bankshares Inc. [UBSI]US28637.1510,6100.9
Penn National Gaming Inc. [PENN]US43523.3910,1790.9
United Natural Foods Inc. [UNFI]US23541.599,7880.9
Gulfport Energy Corp. [GPOR]US36914.345,2880.5
State Auto Financial Corp. [STFC]US19026.234,9750.4
Total1,096,18497.9
Cash and Other Assets Less Liabilities2.1
Total Net Assets100%

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

As of Quarter Ended 09/30/2017
Economic SectorHarbor Small Cap Value Fund %Russell 2000® Value Index %
Information Technology28.29.1
Industrials22.212.0
Financials17.730.9
Health Care8.56.2
Energy4.26.3
Consumer Discretionary3.810.3
Real Estate3.811.1
Utilities3.76.6
Materials3.64.2
Consumer Staples2.32.7
Telecommunication Services0.00.6

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

As of Quarter Ended 09/30/2017
Sector ReturnsHarbor Small Cap Value Fund %Russell 2000® Value Index %
Information Technology13.33.0
Materials7.67.9
Industrials7.18.0
Health Care6.713.0
Financials6.55.2
Consumer Staples6.33.7
Real Estate4.52.1
Utilities1.75.5
Cash0.30.0
Telecommunication Services0.0-13.2
Energy-0.96.3
Consumer Discretionary-6.62.1

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.