Harbor Small Cap Value Fund Investor Class (HISVX)

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

Harbor Small Cap Value FundRussell 2000® Value Index
Number of Holdings601,398
Weighted Avg. Market Cap ($Mil)3,837.772,017.73
Median Market Cap ($Mil)2,860.81726.93
Price/Book Ratio2.611.65
Adj. Trailing P/E Ratio21.8318.26
Forecasted P/E Ratio17.4015.36
Earnings Growth Rate (%)7.416.04
Proj. Earnings Growth Rate (%)12.2211.75
Return on Equity (%)11.986.89
Turnover (unannualized % since 10/31)16-
Beta vs. Fund Benchmark0.84-

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
Entegris Inc. [ENTG]3.3
Hexcel Corp. [HXL]3.3
Firstcash Inc. [FCFS]2.7
Bloomin' Brands Inc. [BLMN]2.5
Cabot Microelectronics Corp. [CCMP]2.5
Teledyne Technologies Inc. [TDY]2.4
Littelfuse Inc. [LFUS]2.4
Catalent Inc. [CTLT]2.3
Mednax Inc. [MD]2.2
EnerSys [ENS]2.0
% of Total Holdings:25.6

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

Company Name [Ticker]CountryShares (000's)Current Price ($)Market Value ($000's)% of Net Assets
Entegris Inc. [ENTG]US1,31934.8045,8903.3
Hexcel Corp. [HXL]US70264.5945,3643.3
Firstcash Inc. [FCFS]US46881.2538,0342.7
Bloomin' Brands Inc. [BLMN]US1,41524.2834,3472.5
Cabot Microelectronics Corp. [CCMP]US319107.1134,1592.5
Teledyne Technologies Inc. [TDY]US176187.1732,9492.4
Littelfuse Inc. [LFUS]US157208.1832,7142.4
Catalent Inc. [CTLT]US77741.0631,9132.3
Mednax Inc. [MD]US55555.6330,8552.2
EnerSys [ENS]US40969.3728,3452.0
Raymond James Financial Inc. [RJF]US31089.4127,7242.0
Albany International Corp. [AIN]US42262.7026,4751.9
Reinsurance Group of America Inc. [RGA]US171154.0026,4011.9
WGL Holdings Inc. [WGL]US31383.6526,1931.9
Coherent Inc. [COHR]US139187.4026,0591.9
Altra Industrial Motion Corp. [AIMC]US56645.9526,0271.9
Meritage Homes Corp. [MTH]US57545.2526,0211.9
Monolithic Power Systems Inc. [MPWR]US225115.7726,0071.9
FLIR Systems Inc. [FLIR]US51150.0125,5731.8
Darling Ingredients Inc. [DAR]US1,45617.3025,1951.8
Franklin Electric Co. Inc. [FELE]US61840.7525,1871.8
Cantel Medical Corp. [CMD]US225111.4125,1101.8
Timken Co. [TKR]US54445.6024,8101.8
Snap-on Inc. [SNA]US166147.5424,5181.8
Mueller Water Products Inc. [MWA]US2,23010.8724,2361.7
ManTech International Corp. [MANT]US42955.4723,7761.7
GATX Corp. [GATX]US34568.4923,6041.7
Scotts Miracle-Gro Co. [SMG]US27585.7523,5821.7
OSI Systems Inc. [OSIS]US35065.2722,8381.6
Sanmina Corp. [SANM]US87226.1522,7911.6
Cadence Bancorp [CADE]US81927.2322,3001.6
Pdc Energy Inc. [PDCE]US43649.0321,3981.5
United Bankshares Inc. [UBSI]US59335.2520,9151.5
Core Laboratories NV [CLB]US193108.2220,8421.5
Wolverine World Wide Inc. [WWW]US71628.9020,6911.5
United Fire Group Inc. [UFCS]US42147.8620,1531.5
Anixter International Inc. [AXE]US26575.7520,0931.4
Trustmark Corp. [TRMK]US63531.1619,7971.4
Cabot Corp. [CBT]US34855.7219,4091.4
United Natural Foods Inc. [UNFI]US44742.9419,2151.4
Moog Inc. [MOG.A]US23182.4119,0281.4
American Equity Investment Life Holding Co. [AEL]US64329.3618,8701.4
Stifel Financial Corp. [SF]US31859.2318,8131.4
EastGroup Properties Inc. [EGP]US22482.6618,4881.3
Welbilt Inc. [WBT]US93619.4518,1981.3
Wesbanco Inc. [WSBC]US42742.3018,0581.3
Eaton Vance Corp. [EV]US31855.6717,6931.3
Oil States International Inc. [OIS]US62526.2016,3681.2
South Jersey Industries Inc. [SJI]US57828.1616,2701.2
Horace Mann Educators Corp. [HMN]US37942.7516,2051.2
Advanced Energy Industries Inc. [AEIS]US24863.9015,8741.1
Molina Healthcare Inc. [MOH]US18381.1814,8401.1
Heartland Financial USA Inc. [HTLF]US27353.0514,4641.0
Medical Properties Trust Inc. [MPW]US1,05313.0013,6841.0
Whiting Petroleum Corp. [WLL]US37233.8412,5850.9
Enterprise Financial Services Corp. [EFSC]US23646.9011,0760.8
Pacific Premier Bancorp Inc. [PPBI]US25040.2010,0350.7
Sterling Bancorp [STL]US42322.559,5440.7
State Auto Financial Corp. [STFC]US22128.576,3000.5
Casella Waste Systems Inc. [CWST]US24123.385,6430.4
Total1,353,54697.6
Cash and Other Assets Less Liabilities2.4
Total Net Assets100%

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

As of Quarter Ended 03/31/2018
Economic SectorHarbor Small Cap Value Fund %Russell 2000® Value Index %
Industrials23.412.3
Financials22.831.7
Information Technology21.38.9
Health Care7.46.8
Consumer Discretionary5.811.0
Energy5.16.4
Consumer Staples3.22.2
Materials3.14.3
Utilities3.16.3
Real Estate2.39.7
Telecommunication Services0.00.5

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

As of Quarter Ended 03/31/2018
Sector ReturnsHarbor Small Cap Value Fund %Russell 2000® Value Index %
Health Care4.05.5
Financials2.00.4
Cash0.40.0
Telecommunication Services0.0-10.8
Energy-0.4-10.7
Information Technology-0.9-2.9
Consumer Discretionary-1.0-2.1
Industrials-4.2-1.8
Utilities-4.8-5.9
Real Estate-4.9-8.4
Consumer Staples-8.5-6.8
Materials-15.1-5.3

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.