Harbor Mid Cap Value Fund Investor Class (HIMVX)

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

Harbor Mid Cap Value FundRussell Midcap® Value Index
Number of Holdings191587
Weighted Avg. Market Cap ($Mil)11,676.1513,543.94
Median Market Cap ($Mil)4,680.417,167.60
Price/Book Ratio1.792.16
Adj. Trailing P/E Ratio15.2819.22
Forecasted P/E Ratio13.4817.41
Earnings Growth Rate (%)10.939.33
Proj. Earnings Growth Rate (%)8.508.56
Return on Equity (%)11.489.79
Turnover (unannualized % since 10/31)20-
Beta vs. Fund Benchmark1.09-

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
Ameriprise Financial Inc. [AMP]1.7
Public Service Enterprise Group Inc. [PEG]1.6
Valero Energy Corp. [VLO]1.4
LAM Research Corp. [LRCX]1.4
Regions Financial Corp. [RF]1.4
SunTrust Banks Inc. [STI]1.4
Lincoln National Corp. [LNC]1.3
Eastman Chemical Co. [EMN]1.3
FirstEnergy Corp. [FE]1.3
Spirit Aerosystems Holdings Inc. [SPR]1.3
% of Total Holdings:14.1

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

Company Name [Ticker]CountryShares (000's)Current Price ($)Market Value ($000's)% of Net Assets
Ameriprise Financial Inc. [AMP]US111148.5116,4851.7
Public Service Enterprise Group Inc. [PEG]US34046.2515,7391.6
Valero Energy Corp. [VLO]US18376.9314,1091.4
LAM Research Corp. [LRCX]US75185.0413,8411.4
Regions Financial Corp. [RF]US90515.2313,7881.4
SunTrust Banks Inc. [STI]US22559.7713,4541.4
Lincoln National Corp. [LNC]US18073.4813,2121.3
Eastman Chemical Co. [EMN]US14190.4912,7681.3
FirstEnergy Corp. [FE]US41030.8312,6251.3
Spirit Aerosystems Holdings Inc. [SPR]US16177.7212,5211.3
Entergy Corp. [ETR]US16276.3612,3861.3
Cummins Inc. [CMI]US61168.0310,3271.0
Everest Re Group Ltd. [RE]BM45228.3910,2551.0
Andeavor Corp. [ANDV]US98103.1510,1401.0
Host Hotels & Resorts Inc. [HST]US51218.499,4711.0
KeyCorp [KEY]US49518.829,3200.9
Applied Materials Inc. [AMAT]US17952.099,3140.9
Discover Financial Services [DFS]US14464.489,3110.9
HCA Holdings Inc. [HCA]US11779.599,2800.9
Wyndham Worldwide Corp. [WYN]US88105.419,2230.9
Goodyear Tire & Rubber Co. [GT]US27733.259,2170.9
Fifth Third Bancorp [FITB]US32827.989,1750.9
Cardinal Health Inc. [CAH]US12766.928,4850.9
United Continental Holdings Inc. [UAL]US13960.888,4810.9
Hartford Financial Services Group Inc. [HIG]US15155.438,3590.8
Huntington Ingalls Industries Inc. [HII]US36226.448,0390.8
Senior Housing Properties Trust [SNH]US41119.558,0370.8
Lear Corp. [LEA]US46173.088,0140.8
Flex Ltd. [FLEX]SG48016.577,9620.8
Huntsman Corp. [HUN]US29027.427,9440.8
Annaly Capital Management Inc. [NLY]US62412.197,6070.8
Celanese Corp. [CE]US73104.277,5910.8
On Semiconductor Corp. [ON]US41018.477,5710.8
Lexington Realty Trust [LXP]US73410.227,4960.8
Wabash National Corp. [WNC]US32722.827,4710.8
NCR Corp. [NCR]US19837.527,4140.7
Whirlpool Corp. [WHR]US40184.447,3960.7
Packaging Corp. of America [PKG]US64114.687,3620.7
American Airlines Group Inc. [AAL]US15447.497,3040.7
Oshkosh Corp. [OSK]US8682.547,1150.7
Unum Group [UNM]US13951.137,1070.7
Corning Inc. [GLW]US23629.927,0460.7
Orbital Atk Inc. [OA]US53133.167,0310.7
Textron Inc. [TXT]US12553.886,7300.7
OMEGA Healthcare Investors Inc. [OHI]US20931.916,6790.7
Scana Corp. [SCG]US13748.496,6350.7
CIT Group Inc. [CIT]US13549.056,6120.7
CIGNA Corp. [CI]US35186.946,5430.7
Hospitality Properties Trust [HPT]US23028.496,5410.7
Lazard Ltd. [LAZ]BM14445.226,5180.7
Juniper Networks Inc. [JNPR]US23327.836,4730.7
Piedmont Office Realty Trust Inc. [PDM]US32120.166,4690.7
Edison International [EIX]US8277.176,3590.6
Xerox Corp. [XRX]US19033.296,3220.6
XL Group Ltd. [XL]BM15739.456,1780.6
Tyson Foods Inc. [TSN]US8770.456,1220.6
Alaska Air Group Inc. [ALK]US7976.276,0300.6
Jazz Pharmaceuticals plc [JAZZ]IE41146.256,0260.6
Reliance Steel & Aluminum Co. [RS]US7876.175,9790.6
Owens Corning Inc. [OC]US7777.355,9250.6
JetBlue Airways Corp. [JBLU]US31618.535,8480.6
Mack-Cali Realty Corp. [CLI]US24423.715,7730.6
Kohl's Corp. [KSS]US12545.655,6970.6
Western Digital Corp. [WDC]US6586.405,6330.6
Manpowergroup Inc. [MAN]US48117.825,6200.6
Brinker International Inc. [EAT]US17231.865,4670.6
Franklin Street Properties Corp. [FSP]US50810.625,3930.5
Summit Hotel Properties Inc. [INN]US33515.995,3500.5
Zions Bancorporation [ZION]US11347.185,3500.5
Group 1 Automotive Inc. [GPI]US7472.465,3400.5
Ryder System Inc. [R]US6384.555,3100.5
Aflac Inc. [AFL]US6581.395,2980.5
Teradyne Inc. [TER]US14137.295,2620.5
Citizens Financial Group Inc. [CFG]US13837.875,2450.5
Xenia Hotels & Resorts Inc. [XHR]US24521.055,1510.5
Sabra Health Care REIT Inc. [SBRA]US23421.945,1410.5
Murphy Oil Corp. [MUR]US19226.565,1100.5
Owens-Illinois Inc. [OI]US20125.165,0620.5
Marathon Petroleum Corp. [MPC]US9056.085,0360.5
Bunge Ltd. [BG]BM7269.465,0360.5
Pulte Group Inc. [PHM]US18327.335,0140.5
Amkor Technology Inc. [AMKR]US47510.555,0110.5
Magellan Health Inc. [MGLN]US5786.304,9490.5
NetApp Inc. [NTAP]US11343.764,9270.5
American Financial Group Inc. [AFG]US48103.454,9220.5
Select Income REIT [SIR]US21023.424,9140.5
Atlas Air Worldwide Holdings Inc. [AAWW]US7465.804,8830.5
HP Inc. [HPQ]US24219.964,8370.5
Kroger Co. [KR]US24020.064,8180.5
Cabot Corp. [CBT]US8655.804,7990.5
Voya Financial Inc. [VOYA]US12039.894,7950.5
Seagate Technology plc [STX]IE14433.174,7700.5
Legg Mason Inc. [LM]US12139.314,7680.5
Trinseo SA [TSE]LU7067.104,7240.5
Vereit Inc. [VER]US5658.294,6870.5
McDermott International Inc. [MDR]PA6307.274,5770.5
Cirrus Logic Inc. [CRUS]US8553.324,5270.5
PBF Energy Inc. [PBF]US16427.614,5200.5
AMC Networks Inc. [AMCX]US7658.474,4550.5
Moog Inc. [MOG/A]US5383.434,4300.4
Harley-Davidson Inc. [HOG]US9248.214,4160.4
Western Union Co. [WU]US22819.204,3800.4
Snap-on Inc. [SNA]US29149.014,3660.4
DDR Corp. [DDR]US4739.164,3320.4
Domtar Corp. [UFS]US9943.394,2780.4
Murphy USA Inc. [MUSA]US6169.004,2130.4
Meritor Inc. [MTOR]US16226.014,2110.4
Gap Inc. [GPS]US13929.534,1020.4
Briggs & Stratton Corp. [BGG]US17023.504,0000.4
Government Properties Income Trust [GOV]US21118.773,9600.4
Principal Financial Group Inc. [PFG]US6164.343,9120.4
Assurant Inc. [AIZ]US4095.523,8300.4
Validus Holdings Ltd. [VR]BM7849.213,8190.4
Carter's Inc. [CRI]US3898.753,8020.4
Tech Data Corp. [TECD]US4288.853,7140.4
Calatlantic Group Inc. [CAA]US10036.633,6520.4
Penske Automotive Group Inc. [PAG]US7747.573,6490.4
LifePoint Health Inc. [LPNT]US6157.903,5480.4
Trinity Industries Inc. [TRN]US11131.903,5470.4
Banco Latinoamericano de Comercio Exterior SA [BLX]PA12029.443,5330.4
Hersha Hospitality Trust [HT]US18918.673,5230.4
Allstate Corp. [ALL]US3891.913,5020.4
Diamond Offshore Drilling Inc. [DO]US24114.503,5000.4
Radian Group Inc. [RDN]US18618.693,4740.4
Medical Properties Trust Inc. [MPW]US26313.133,4530.3
Cooper-Standard Holdings Inc. [CPS]US30115.973,4330.3
JM Smucker Co. [SJM]US33104.933,4310.3
Navient Corp. [NAVI]US22515.023,3830.3
Assured Guaranty Ltd. [AGO]BM8837.753,3370.3
PennyMac Mortgage Investment Trust [PMT]US19117.393,3270.3
Ethan Allen Interiors Inc. [ETH]US10132.403,2880.3
Pitney Bowes Inc. [PBI]US22814.013,1960.3
Two Harbors Investment Corp. [TWO]US31610.083,1860.3
Brandywine Realty Trust [BDN]US18217.493,1780.3
The Children's Place Retail Stores Inc. [PLCE]US27118.153,1550.3
Timken Co. [TKR]US6548.553,1410.3
AGCO Corp. [AGCO]US4273.773,1350.3
MGIC Investment Corp. [MTG]US24912.533,1250.3
AES Corp. [AES]US28311.023,1210.3
American Electric Power Co. Inc. [AEP]US4470.243,1050.3
Universal Insurance Holdings Inc. [UVE]US13523.003,0960.3
A. Schulman Inc. [SHLM]US9034.153,0840.3
Office Depot Inc. [ODP]US6784.543,0770.3
Viacom Inc. [VIAB]US10927.843,0290.3
TTM Technologies Inc. [TTMI]US19615.373,0160.3
Avnet Inc. [AVT]US7639.303,0030.3
National Oilwell Varco Inc. [NOV]US8335.732,9800.3
Axis Capital Holdings Ltd. [AXS]BM5257.312,9740.3
Universal Corp. [UVV]US5257.302,9620.3
WestRock Co. [WRK]US5256.732,9390.3
Invesco Mortgage Capital Inc. [IVR]US17117.132,9290.3
CA Inc. [CA]US8833.382,9270.3
Vishay Intertechnology Inc. [VSH]US15418.802,8990.3
Meritage Homes Corp. [MTH]US6544.402,8950.3
Archer Daniels Midland Co. [ADM]US6842.512,8690.3
Convergys Corp. [CVG]US11125.892,8670.3
Plantronics Inc. [PLT]US6544.222,8570.3
Nelnet Inc. [NNI]US5650.502,8530.3
American Outdoor Brands Corp. [AOBC]US18415.252,8140.3
Mylan NV [MYL]NL8431.372,6510.3
MFA Financial Inc. [MFA]US2988.762,6130.3
Triumph Group Inc. [TGI]US8629.752,5530.3
Aircastle Ltd. [AYR]BM11422.292,5320.3
Arcbest Corp. [ARCB]US7433.452,4820.3
Tutor Perini Corp. [TPC]US8628.402,4540.2
CBL & Associates Properties Inc. [CBL]US2868.392,4020.2
Netgear Inc. [NTGR]US4947.602,3470.2
Chicago Bridge & Iron Co. NV [CBI]NL13416.802,2530.2
Macy's Inc. [M]US10321.822,2430.2
Bed Bath & Beyond Inc. [BBBY]US9323.472,1780.2
Owens & Minor Inc. [OMI]US7329.202,1320.2
American Axle & Manufacturing Holdings Inc. [AXL]US11817.582,0780.2
Lannett Co. Inc. [LCI]US11018.452,0320.2
Oceaneering International Inc. [OII]US7526.271,9650.2
Foot Locker Inc. [FL]US5435.221,8880.2
Dillard's Inc. [DDS]US3456.071,8840.2
Dick's Sporting Goods Inc. [DKS]US6927.011,8580.2
GameStop Corp. [GME]US8920.661,8410.2
Rowan Cos. plc [RDC]GB13212.851,6940.2
Supervalu Inc. [SVU]US7421.751,6050.2
Ingles Markets Inc. [IMKTA]US6225.701,5990.2
Finish Line Inc. [FINL]US12412.031,4910.2
Gannett Co. Inc. [GCI]US1659.001,4840.2
Maiden Holdings Ltd. [MHLD]BM1867.951,4830.1
TEGNA Inc. [TGNA]US9813.331,3130.1
Amtrust Financial Services Inc. [AFSI]US8313.461,1170.1
Ship Finance International Ltd. [SFL]BM6614.509610.1
Ensco plc [ESV]GB1015.976010.1
RR Donnelley & Sons Co. [RRD]US5510.305690.1
Dhi Group Inc. [DHX]US1912.604960.1
Lsc Communications Inc. [LKSD]US2116.513420.0
Total985,85199.6
Cash and Other Assets Less Liabilities0.4
Total Net Assets100%

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

As of Quarter Ended 09/30/2017
Economic SectorHarbor Mid Cap Value Fund %Russell Midcap® Value Index %
Financials22.320.1
Industrials15.311.7
Information Technology13.16.5
Consumer Discretionary12.511.8
Real Estate10.614.5
Materials6.75.3
Utilities6.110.7
Energy5.68.1
Health Care4.66.6
Consumer Staples2.93.8
Telecommunication Services0.00.8

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

As of Quarter Ended 09/30/2017
Sector ReturnsHarbor Mid Cap Value Fund %Russell Midcap® Value Index %
Energy13.16.2
Industrials7.04.7
Information Technology6.73.9
Materials6.17.2
Financials3.14.1
Cash0.30.0
Telecommunication Services0.0-12.5
Utilities-0.32.5
Consumer Discretionary-0.40.3
Real Estate-1.2-0.1
Health Care-4.0-5.7
Consumer Staples-4.4-1.6

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.