Quarterly Portfolios of Investments
HARBOR FUNDS
January 31, 2024
|
Harbor Capital Appreciation Fund
|
Harbor Convertible Securities Fund
|
Harbor Core Bond Fund
|
Harbor Core Plus Fund
|
Harbor Disruptive Innovation Fund
|
Harbor Diversified International All Cap Fund
|
Harbor International Fund
|
Harbor International Core Fund
|
Harbor International Growth Fund
|
Harbor International Small Cap Fund
|
Harbor Large Cap Value Fund
|
Harbor Mid Cap Fund
|
Harbor Mid Cap Value Fund
|
Harbor Small Cap Growth Fund
|
Harbor Small Cap Value Fund
|
Table of Contents
Portfolios of Investments
|
|
Harbor Capital Appreciation Fund
|
|
Harbor Convertible Securities Fund
|
|
Harbor Core Bond Fund
|
|
Harbor Core Plus Fund
|
|
Harbor Disruptive Innovation Fund
|
|
Harbor Diversified International All Cap Fund
|
|
Harbor International Fund
|
|
Harbor International Core Fund
|
|
Harbor International Growth Fund
|
|
Harbor International Small Cap Fund
|
|
Harbor Large Cap Value Fund
|
|
Harbor Mid Cap Fund
|
|
Harbor Mid Cap Value Fund
|
|
Harbor Small Cap Growth Fund
|
|
Harbor Small Cap Value Fund
|
|
Notes to Portfolios of Investments
|
54
|
Harbor Capital Appreciation Fund
PORTFOLIO OF INVESTMENTS—January 31, 2024 (Unaudited)
Value and Cost in Thousands
COMMON STOCKS—99.5%
|
||
Shares
|
|
Value
|
AEROSPACE & DEFENSE—0.9%
|
||
1,164,799
|
Boeing Co. *
|
$245,819
|
AUTOMOBILES—2.5%
|
||
3,609,217
|
Tesla, Inc. *
|
675,970
|
BIOTECHNOLOGY—1.4%
|
||
859,665
|
Vertex Pharmaceuticals, Inc. *
|
372,562
|
BROADLINE RETAIL—9.8%
|
||
13,299,445
|
Amazon.com, Inc. *
|
2,064,074
|
328,271
|
MercadoLibre, Inc. (Brazil)*
|
561,938
|
|
|
2,626,012
|
CAPITAL MARKETS—1.0%
|
||
372,037
|
Goldman Sachs Group, Inc.
|
142,866
|
315,877
|
Moody’s Corp.
|
123,836
|
|
|
266,702
|
CONSUMER STAPLES DISTRIBUTION & RETAIL—2.1%
|
||
828,150
|
Costco Wholesale Corp.
|
575,465
|
ELECTRONIC EQUIPMENT, INSTRUMENTS & COMPONENTS—0.7%
|
||
1,219,089
|
Keysight Technologies, Inc. *
|
186,838
|
ENTERTAINMENT—2.4%
|
||
1,150,671
|
Netflix, Inc. *
|
649,105
|
FINANCIAL SERVICES—5.9%
|
||
1,722,127
|
Mastercard, Inc. Class A
|
773,631
|
2,924,708
|
Visa, Inc. Class A
|
799,206
|
|
|
1,572,837
|
GROUND TRANSPORTATION—1.9%
|
||
7,646,775
|
Uber Technologies, Inc. *
|
499,105
|
HEALTH CARE EQUIPMENT & SUPPLIES—1.4%
|
||
1,023,669
|
Intuitive Surgical, Inc. *
|
387,172
|
HEALTH CARE PROVIDERS & SERVICES—1.6%
|
||
844,497
|
UnitedHealth Group, Inc.
|
432,163
|
HOTELS, RESTAURANTS & LEISURE—2.4%
|
||
1,253,527
|
Airbnb, Inc. Class A*
|
180,683
|
74,559
|
Chipotle Mexican Grill, Inc. *
|
179,595
|
1,195,347
|
Marriott International, Inc. Class A
|
286,561
|
|
|
646,839
|
INTERACTIVE MEDIA & SERVICES—8.7%
|
||
4,482,556
|
Alphabet, Inc. Class A*
|
628,006
|
4,458,508
|
Alphabet, Inc. Class C*
|
632,216
|
2,780,083
|
Meta Platforms, Inc. Class A*
|
1,084,622
|
|
|
2,344,844
|
IT SERVICES—2.2%
|
||
746,575
|
MongoDB, Inc. *
|
299,018
|
1,533,749
|
Snowflake, Inc. Class A*
|
300,063
|
|
|
599,081
|
MEDIA—0.7%
|
||
2,703,410
|
Trade Desk, Inc. Class A*
|
184,994
|
COMMON STOCKS—Continued
|
||
Shares
|
|
Value
|
PERSONAL CARE PRODUCTS—0.9%
|
||
523,847
|
L’Oreal SA (France)
|
$250,689
|
PHARMACEUTICALS—6.8%
|
||
3,973,540
|
AstraZeneca PLC ADR (United Kingdom)1
|
264,797
|
1,529,307
|
Eli Lilly & Co.
|
987,336
|
5,045,546
|
Novo Nordisk AS ADR (Denmark)1
|
578,926
|
|
|
1,831,059
|
SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT—16.6%
|
||
6,753,947
|
Advanced Micro Devices, Inc. *
|
1,132,569
|
1,661,153
|
ARM Holdings PLC ADR*,1
|
117,394
|
480,826
|
ASML Holding NV New York Registry Shares (Netherlands)
|
418,232
|
674,156
|
Broadcom, Inc.
|
795,504
|
954,634
|
Micron Technology, Inc.
|
81,860
|
3,101,489
|
NVIDIA Corp.
|
1,908,253
|
|
|
4,453,812
|
SOFTWARE—17.6%
|
||
870,398
|
Adobe, Inc. *
|
537,715
|
1,202,035
|
Cadence Design Systems, Inc. *
|
346,739
|
1,100,215
|
Crowdstrike Holdings, Inc. Class A*
|
321,813
|
259,979
|
HubSpot, Inc. *
|
158,847
|
5,677,852
|
Microsoft Corp.
|
2,257,401
|
493,292
|
Palo Alto Networks, Inc. *
|
166,984
|
1,966,375
|
Salesforce, Inc. *
|
552,728
|
518,989
|
ServiceNow, Inc. *
|
397,234
|
|
|
4,739,461
|
SPECIALIZED REITS—1.1%
|
||
1,433,560
|
American Tower Corp.
|
280,476
|
SPECIALTY RETAIL—3.4%
|
||
1,093,214
|
Home Depot, Inc.
|
385,861
|
257,906
|
O’Reilly Automotive, Inc. *
|
263,850
|
2,819,459
|
TJX Cos., Inc.
|
267,595
|
|
|
917,306
|
TECHNOLOGY HARDWARE, STORAGE & PERIPHERALS—4.3%
|
||
6,246,046
|
Apple, Inc.
|
1,151,771
|
TEXTILES, APPAREL & LUXURY GOODS—3.2%
|
||
733,462
|
Lululemon Athletica, Inc. *
|
332,860
|
381,508
|
LVMH Moet Hennessy Louis Vuitton SE (France)
|
317,437
|
2,106,025
|
NIKE, Inc. Class B
|
213,824
|
|
|
864,121
|
TOTAL COMMON STOCKS
(Cost $11,844,512)
|
26,754,203
|
PREFERRED STOCKS—0.4%
|
||
|
|
|
(Cost $101,187)
|
||
AUTOMOBILES—0.4%
|
||
1,251,342
|
Dr Ing hc F Porsche AG (Germany)2
|
106,242
|
TOTAL INVESTMENTS—99.9%
(Cost $11,945,699)
|
26,860,445
|
|
CASH AND OTHER ASSETS, LESS LIABILITIES—0.1%
|
22,681
|
|
TOTAL NET ASSETS—100%
|
$26,883,126
|
⬤
1
Harbor Capital Appreciation Fund
PORTFOLIO OF INVESTMENTS—Continued
FAIR VALUE MEASUREMENTS
As of January 31, 2024, the investments in Dr. Ing. h.c.F. Porsche AG, L’Oreal SA, and LVMH Moet Hennessy Loius Vuitton SE (as disclosed in the preceding Portfolio of Investments) were classified as Level 2 and all other investments were classified as Level 1.
For more information on valuation inputs and their aggregation into the levels identified above, please refer to the Fair
Value Measurements and Disclosures in Note 2 of the accompanying Notes to Portfolios of Investments.
*
Non-income producing security
1
Depositary receipts such as American Depositary Receipts (ADRs), Global Depositary Receipts (GDRs) and other country specific
depositary receipts are certificates evidencing ownership of shares of a foreign issuer. These certificates are issued by depositary
banks and generally trade on an established market in the U.S. or elsewhere.
2
Securities purchased in a transaction exempt from registration under Rule 144A of the Securities Act of 1933. These securities
may be resold in transactions exempt from registration, normally to qualified institutional buyers. The Fund has no right to demand registration
of these securities. As of January 31, 2024, the aggregate value of these securities was $106,242 or less than 1% of net assets.
The accompanying notes are an integral part of the Portfolios of Investments.
⬤
2
Harbor Convertible Securities Fund
PORTFOLIO OF INVESTMENTS—January 31, 2024 (Unaudited)
Principal Amounts, Value and Cost in Thousands
Convertible Bonds—87.9%
|
||
Principal
Amount
|
|
Value
|
Automobiles—1.5%
|
||
|
Rivian Automotive, Inc.
|
|
$300
|
3.625%—10/15/20301
|
$277
|
100
|
4.625%—03/15/20291
|
107
|
|
|
384
|
|
|
384
|
Biotechnology—4.4%
|
||
|
Bridgebio Pharma, Inc.
|
|
100
|
2.250%—02/01/2029
|
83
|
200
|
2.500%—03/15/2027
|
224
|
|
|
307
|
100
|
Cytokinetics, Inc.
3.500%—07/01/2027
|
172
|
200
|
Guardant Health, Inc.
0.000%—11/15/20272
|
138
|
200
|
Halozyme Therapeutics, Inc.
0.250%—03/01/2027
|
172
|
300
|
Ionis Pharmaceuticals, Inc.
0.000%—04/01/20262
|
320
|
|
|
1,109
|
Capital Markets—0.8%
|
||
200
|
New Mountain Finance Corp.
7.500%—10/15/2025
|
204
|
Commercial Services & Supplies—6.3%
|
||
400
|
Affirm Holdings, Inc.
0.000%—11/15/20262
|
319
|
200
|
Alarm.com Holdings, Inc.
0.000%—01/15/20262
|
178
|
300
|
Block, Inc.
0.250%—11/01/2027
|
246
|
200
|
Marathon Digital Holdings, Inc.
1.000%—12/01/2026
|
161
|
200
|
Sabre GLBL, Inc.
4.000%—04/15/2025
|
193
|
300
|
Shift4 Payments, Inc.
0.500%—08/01/2027
|
280
|
200
|
Tetra Tech, Inc.
2.250%—08/15/20281
|
204
|
|
|
1,581
|
Construction & Engineering—2.0%
|
||
200
|
Fluor Corp.
1.125%—08/15/20291
|
212
|
200
|
Granite Construction, Inc.
2.750%—11/01/2024
|
287
|
|
|
499
|
Diversified REITs—3.5%
|
||
100
|
GEO Corrections Holdings, Inc.
6.500%—02/23/2026
|
142
|
100
|
Uniti Group, Inc.
7.500%—12/01/20271
|
94
|
300
|
Ventas Realty LP
3.750%—06/01/20261
|
309
|
300
|
Welltower OP LLC
2.750%—05/15/20281
|
325
|
|
|
870
|
Convertible Bonds—Continued
|
||
Principal
Amount
|
|
Value
|
Electric Utilities—2.9%
|
||
$300
|
CMS Energy Corp.
3.375%—05/01/20281
|
$296
|
100
|
NRG Energy, Inc.
2.750%—06/01/2048
|
132
|
100
|
Ormat Technologies, Inc.
2.500%—07/15/2027
|
96
|
100
|
PPL Capital Funding, Inc.
2.875%—03/15/20281
|
96
|
100
|
Southern Co.
3.875%—12/15/20251
|
100
|
|
|
720
|
Electronic Equipment, Instruments & Components—4.3%
|
||
300
|
Itron, Inc.
0.000%—03/15/20262
|
276
|
100
|
Lumentum Holdings, Inc.
0.500%—12/15/2026
|
91
|
200
|
PAR Technology Corp.
1.500%—10/15/2027
|
183
|
100
|
Rapid7, Inc.
1.250%—03/15/20291
|
109
|
100
|
Seagate HDD Cayman
3.500%—06/01/20281
|
121
|
100
|
Varonis Systems, Inc.
1.250%—08/15/2025
|
152
|
100
|
Western Digital Corp.
3.000%—11/15/20281
|
130
|
|
|
1,062
|
Energy Equipment & Services—0.4%
|
||
200
|
Sunnova Energy International, Inc.
2.625%—02/15/2028
|
104
|
Entertainment—1.4%
|
||
400
|
DraftKings Holdings, Inc.
0.000%—03/15/20282
|
338
|
Equity Real Estate Investment Trusts (REITs)—0.9%
|
||
100
|
HAT Holdings I LLC/HAT Holdings II LLC
3.750%—08/15/20281
|
108
|
100
|
Starwood Property Trust, Inc.
6.750%—07/15/2027
|
107
|
|
|
215
|
Financial Services—3.2%
|
||
400
|
Coinbase Global, Inc.
0.500%—06/01/2026
|
348
|
200
|
EZCORP, Inc.
3.750%—12/15/20291
|
201
|
300
|
SoFi Technologies, Inc.
0.000%—10/15/20261,2
|
251
|
|
|
800
|
Food Products—0.4%
|
||
100
|
Post Holdings, Inc.
2.500%—08/15/2027
|
104
|
Health Care Providers & Services—3.9%
|
||
100
|
Alphatec Holdings, Inc.
0.750%—08/01/2026
|
110
|
300
|
CONMED Corp.
2.250%—06/15/2027
|
286
|
⬤
3
Harbor Convertible Securities Fund
PORTFOLIO OF INVESTMENTS—Continued
Principal Amounts, Value and Cost in Thousands
Convertible Bonds—Continued
|
||
Principal
Amount
|
|
Value
|
Health Care Providers & Services—Continued
|
||
$200
|
Exact Sciences Corp.
0.375%—03/15/2027
|
$186
|
300
|
Haemonetics Corp.
0.000%—03/01/20262
|
268
|
100
|
Merit Medical Systems, Inc.
3.000%—02/01/20291
|
113
|
|
|
963
|
Hotels, Restaurants & Leisure—2.7%
|
||
100
|
Carnival Corp.
5.750%—12/01/2027
|
152
|
200
|
Cheesecake Factory, Inc.
0.375%—06/15/2026
|
173
|
100
|
Cracker Barrel Old Country Store, Inc.
0.625%—06/15/2026
|
87
|
300
|
Shake Shack, Inc.
0.000%—03/01/20282
|
249
|
|
|
661
|
Interactive Media & Services—2.7%
|
||
100
|
fuboTV, Inc.
3.250%—02/15/2026
|
76
|
500
|
Snap, Inc.
0.125%—03/01/2028
|
398
|
100
|
Uber Technologies, Inc.
0.875%—12/01/20281
|
112
|
100
|
Upwork, Inc.
0.250%—08/15/2026
|
85
|
|
|
671
|
Internet & Catalog Retail—9.2%
|
||
500
|
Airbnb, Inc.
0.000%—03/15/20262
|
455
|
100
|
Booking Holdings, Inc.
0.750%—05/01/2025
|
188
|
|
Okta, Inc.
|
|
300
|
0.125%—09/01/2025
|
277
|
200
|
0.375%—06/15/2026
|
179
|
|
|
456
|
200
|
Palo Alto Networks, Inc.
0.375%—06/01/2025
|
681
|
300
|
Snap, Inc.
0.000%—05/01/20272
|
242
|
200
|
Wayfair, Inc.
3.500%—11/15/20281
|
268
|
|
|
2,290
|
Leisure Products—5.0%
|
||
100
|
Carnival Corp.
5.750%—10/01/2024
|
172
|
300
|
Liberty TripAdvisor Holdings, Inc.
0.500%—06/30/20511
|
273
|
300
|
NCL Corp. Ltd.
2.500%—02/15/2027
|
276
|
200
|
Royal Caribbean Cruises Ltd.
6.000%—08/15/2025
|
523
|
|
|
1,244
|
Machinery—0.9%
|
||
100
|
Axon Enterprise, Inc.
0.500%—12/15/2027
|
123
|
Convertible Bonds—Continued
|
||
Principal
Amount
|
|
Value
|
Machinery—Continued
|
||
$100
|
John Bean Technologies Corp.
0.250%—05/15/2026
|
$91
|
|
|
214
|
Media—4.0%
|
||
500
|
DISH Network Corp.
0.000%—12/15/20252
|
358
|
100
|
Liberty Broadband Corp.
3.125%—03/31/20531
|
99
|
300
|
Liberty Media Corp.
2.375%—09/30/20531
|
317
|
200
|
Liberty Media Corp.-Liberty Formula One
2.250%—08/15/2027
|
212
|
|
|
986
|
Metals & Mining—2.5%
|
||
100
|
ATI, Inc.
3.500%—06/15/2025
|
267
|
100
|
U.S. Steel Corp.
5.000%—11/01/2026
|
352
|
|
|
619
|
Oil, Gas & Consumable Fuels—1.2%
|
||
100
|
Northern Oil & Gas, Inc.
3.625%—04/15/2029
|
111
|
200
|
Oil States International, Inc.
4.750%—04/01/2026
|
195
|
|
|
306
|
Pharmaceuticals—2.1%
|
||
100
|
Amphastar Pharmaceuticals, Inc.
2.000%—03/15/20291
|
112
|
100
|
Collegium Pharmaceutical, Inc.
2.875%—02/15/20291
|
112
|
300
|
Dexcom, Inc.
0.375%—05/15/20281
|
303
|
|
|
527
|
Real Estate Management & Development—0.7%
|
||
200
|
Redfin Corp.
0.000%—10/15/20252
|
172
|
Semiconductors & Semiconductor Equipment—1.0%
|
||
100
|
ON Semiconductor Corp.
0.000%—05/01/20272
|
145
|
|
Wolfspeed, Inc.
|
|
100
|
0.250%—02/15/2028
|
59
|
100
|
1.875%—12/01/2029
|
58
|
|
|
117
|
|
|
262
|
Software—17.7%
|
||
300
|
Akamai Technologies, Inc.
0.375%—09/01/2027
|
344
|
200
|
Altair Engineering, Inc.
1.750%—06/15/2027
|
260
|
|
Bentley Systems, Inc.
|
|
300
|
0.125%—01/15/2026
|
295
|
100
|
0.375%—07/01/2027
|
89
|
|
|
384
|
⬤
4
Harbor Convertible Securities Fund
PORTFOLIO OF INVESTMENTS—Continued
Principal Amounts, Value and Cost in Thousands
Convertible Bonds—Continued
|
||
Principal
Amount
|
|
Value
|
Software—Continued
|
||
$200
|
Ceridian HCM Holding, Inc.
0.250%—03/15/2026
|
$182
|
200
|
Cloudflare, Inc.
0.000%—08/15/20262
|
179
|
100
|
CSG Systems International, Inc.
3.875%—09/15/20281
|
99
|
100
|
DigitalOcean Holdings, Inc.
0.000%—12/01/20262
|
83
|
300
|
Envestnet, Inc.
0.750%—08/15/2025
|
282
|
300
|
Fastly, Inc.
0.000%—03/15/20262
|
268
|
200
|
Guidewire Software, Inc.
1.250%—03/15/2025
|
224
|
100
|
MicroStrategy, Inc.
0.750%—12/15/2025
|
142
|
200
|
MongoDB, Inc.
0.250%—01/15/2026
|
387
|
300
|
Nutanix, Inc.
0.250%—10/01/2027
|
344
|
300
|
Pegasystems, Inc.
0.750%—03/01/2025
|
285
|
500
|
Porch Group, Inc.
0.750%—09/15/20261
|
153
|
200
|
Rapid7, Inc.
0.250%—03/15/2027
|
180
|
|
Splunk, Inc.
|
|
300
|
1.125%—09/15/2025
|
334
|
100
|
1.125%—06/15/2027
|
98
|
|
|
432
|
100
|
Unity Software, Inc.
0.000%—11/15/20262
|
84
|
100
|
Verint Systems, Inc.
0.250%—04/15/2026
|
89
|
|
|
4,401
|
Specialty Retail—0.8%
|
||
200
|
Greenbrier Cos., Inc.
2.875%—04/15/2028
|
205
|
Convertible Bonds—Continued
|
||
Principal
Amount
|
|
Value
|
Wireless Telecommunication Services—1.5%
|
||
$100
|
Infinera Corp.
2.500%—03/01/2027
|
$97
|
200
|
InterDigital, Inc.
3.500%—06/01/2027
|
286
|
|
|
383
|
Total Convertible Bonds
(Cost $20,907)
|
$21,894
|
Convertible Preferred Stocks—8.2%
|
||
Shares
|
|
|
Banks—3.2%
|
||
100
|
Bank of America Corp.—7.250%
|
122
|
550
|
Wells Fargo & Co.—7.500%
|
665
|
|
|
787
|
Diversified REITs—1.2%
|
||
12,400
|
RLJ Lodging Trust—1.950%
|
310
|
Electric Utilities—1.2%
|
||
8,200
|
NextEra Energy, Inc.—6.926%
|
305
|
Machinery—1.2%
|
||
1,300
|
Chart Industries, Inc.—6.750%
|
65
|
1,900
|
RBC Bearings, Inc.—5.000%
|
233
|
|
|
298
|
Oil, Gas & Consumable Fuels—1.4%
|
||
7,200
|
El Paso Energy Capital Trust I—4.750%
|
339
|
Total Convertible Preferred Stocks
(Cost $2,078)
|
2,039
|
|
TOTAL INVESTMENTS—96.1%
(Cost $22,985)
|
23,933
|
|
CASH AND OTHER ASSETS, LESS LIABILITIES—3.9%
|
971
|
|
TOTAL NET ASSETS—100.0%
|
$24,904
|
FAIR VALUE MEASUREMENTS
As of January 31, 2024, the investments in Convertible Preferred Stocks (as disclosed in the preceding Portfolio of Investments)
were classified as Level 1 and all other investments were classified as Level 2.
For more information on valuation inputs and their aggregation into the levels identified above, please refer to the Fair
Value Measurements and Disclosures in Note 2 of the accompanying Notes to Portfolios of Investments.
1
Securities purchased in a transaction exempt from registration under Rule 144A of the Securities Act of 1933. These securities
may be resold in transactions exempt from registration, normally to qualified institutional buyers. The Fund has no right to demand registration
of these securities. As of January 31, 2024, the aggregate value of these securities was $4,901 or 20% of net assets.
2
Zero coupon bond
The accompanying notes are an integral part of the Portfolios of Investments.
⬤
5
Harbor Core Bond Fund
PORTFOLIO OF INVESTMENTS—January 31, 2024 (Unaudited)
Principal Amounts, Value and Cost in Thousands
Asset-Backed Securities—10.4%
|
||
Principal
Amount
|
|
Value
|
$385
|
Aligned Data Centers Issuer LLC
Series 2021-1A Cl. A2
1.937%—08/15/20461
|
$348
|
514
|
American Tower Trust I
5.490%—03/15/20281
|
522
|
|
AMSR Trust
|
|
410
|
Series 2021-SFR3 Cl. A
1.476%—10/17/20381
|
373
|
782
|
Series 2022-SFR3 Cl. A
4.000%—10/17/20391
|
754
|
|
|
1,127
|
753
|
Avis Budget Rental Car Funding AESOP LLC
Series 2024-1A Cl. A
5.360%—06/20/20301
|
764
|
366
|
BA Credit Card Trust
Series 2022-A2 Cl. A2
5.000%—04/15/2028
|
369
|
|
CIFC Funding Ltd.
|
|
306
|
Series 2018-3A Cl. A
6.660% (3 Month USD Term SOFR + 1.362%)
07/18/20311,2
|
307
|
497
|
Series 2023-3A Cl. A
6.916% (3 Month USD Term SOFR + 1.600%)
01/20/20371,2
|
497
|
|
|
804
|
1,286
|
Citizens Auto Receivables Trust
Series 2024-1 Cl. A3
5.110%—04/17/20281
|
1,292
|
1,147
|
DB Master Finance LLC
Series 2021-1A Cl. A2I
2.045%—11/20/20511
|
1,051
|
291
|
Discover Card Execution Note Trust
Series 2022-A4 Cl. A
5.030%—10/15/2027
|
293
|
629
|
Domino’s Pizza Master Issuer LLC
Series 2021-1A Cl. A2I
2.662%—04/25/20511
|
565
|
1,575
|
Enterprise Fleet Financing LLC
Series 2024-1 Cl. A2
5.230%—03/20/20301
|
1,580
|
|
FirstKey Homes Trust
|
|
356
|
Series 2020-SFR2 Cl. A
1.266%—10/19/20371
|
333
|
370
|
Series 2021-SFR1 Cl. A
1.538%—08/17/20381
|
339
|
|
|
672
|
|
Ford Credit Auto Owner Trust
|
|
250
|
Series 2020-1 Cl. A
2.040%—08/15/20311
|
242
|
1,000
|
Series 2023-2 Cl. A
5.280%—02/15/20361
|
1,026
|
|
|
1,268
|
|
GM Financial Consumer Automobile Receivables
Trust
|
|
288
|
Series 2022-3 Cl. A4
3.710%—12/16/2027
|
282
|
1,204
|
Series 2024-1 Cl. A3
4.850%—12/18/2028
|
1,209
|
|
|
1,491
|
Asset-Backed Securities—Continued
|
||
Principal
Amount
|
|
Value
|
|
GoldenTree Loan Management U.S. CLO Ltd.
|
|
$650
|
Series 2021-10A Cl. A
6.679% (3 Month USD Term SOFR + 1.362%)
07/20/20341,2
|
$651
|
822
|
Series 2023-17A Cl. A
7.068% (3 Month USD Term SOFR + 1.750%)
07/20/20361,2
|
828
|
|
|
1,479
|
|
Home Partners of America Trust
|
|
250
|
Series 2020-2 Cl. A
1.532%—01/17/20411
|
212
|
510
|
Series 2022-1 Cl. A
3.930%—04/17/20391
|
492
|
|
|
704
|
362
|
Mercedes-Benz Auto Receivables Trust
Series 2022-1 Cl. A4
5.250%—02/15/2029
|
367
|
|
Navient Private Education Refi Loan Trust
|
|
111
|
Series 2021-A Cl. A
0.840%—05/15/20691
|
98
|
248
|
Series 2021-BA Cl. A
0.940%—07/15/20691
|
217
|
|
|
315
|
1,087
|
NextGear Floorplan Master Owner Trust
Series 2023-1A Cl. A2
5.740%—03/15/20281
|
1,106
|
|
Palmer Square CLO Ltd.
|
|
401
|
Series 2013-2A Cl. A1A3
6.578% (3 Month USD Term SOFR + 1.262%)
10/17/20311,2
|
401
|
360
|
Series 2020-3A Cl. A1R2
7.025% (3 Month USD Term SOFR + 1.650%)
11/15/20361,2
|
361
|
|
|
762
|
|
Palmer Square Loan Funding Ltd.
|
|
331
|
Series 2021-2A Cl. A1
6.429% (3 Month USD Term SOFR + 1.062%)
05/20/20291,2
|
332
|
294
|
Series 2022-2A Cl. A1
6.584% (3 Month USD Term SOFR + 1.270%)
10/15/20301,2
|
293
|
|
|
625
|
|
PFS Financing Corp.
|
|
232
|
Series 2022-D Cl. A
4.270%—08/15/20271
|
229
|
1,814
|
Series 2024-B Cl. A
4.950%—02/15/20291
|
1,816
|
522
|
Series 2023-A Cl. A
5.800%—03/15/20281
|
531
|
|
|
2,576
|
|
Progress Residential Trust
|
|
438
|
Series 2019-SFR3 Cl. A
2.271%—09/17/20361
|
437
|
1,094
|
Series 2022-SFR2 Cl. A
2.950%—04/17/20271
|
1,028
|
|
|
1,465
|
202
|
Sabey Data Center Issuer LLC
Series 2020-1 Cl. A2
3.812%—04/20/20451
|
196
|
⬤
6
Harbor Core Bond Fund
PORTFOLIO OF INVESTMENTS—Continued
Principal Amounts, Value and Cost in Thousands
Asset-Backed Securities—Continued
|
||
Principal
Amount
|
|
Value
|
|
SBA Tower Trust
|
|
$500
|
1.631%—05/15/20511 |
$448
|
705
|
2.593%—10/15/20561 |
571
|
230
|
6.599%—01/15/20281 |
237
|
|
|
1,256
|
1,281
|
SFS Auto Receivables Securitization Trust
Series 2024-1A Cl. A3
4.950%—05/21/20291
|
1,287
|
185
|
Stack Infrastructure Issuer LLC
Series 2019-2A Cl. A2
3.080%—10/25/20441
|
180
|
192
|
Store Master Funding I-VII
Series 2018-1A Cl. A1
3.960%—10/20/20481
|
188
|
163
|
Store Master Funding I-VII & XIV
Series 2019-1 Cl. A1
2.820%—11/20/20491
|
151
|
614
|
Taco Bell Funding LLC
Series 2021-1A Cl. A2II
2.294%—08/25/20511
|
534
|
|
U.S. Small Business Administration
|
|
64
|
Series 2012-20C Cl. 1
2.510%—03/01/2032
|
60
|
101
|
Series 2017-20H Cl. 1
2.750%—08/01/2037
|
93
|
173
|
Series 2014-20K Cl. 1
2.800%—11/01/2034
|
161
|
179
|
Series 2015-20H Cl. 1
2.820%—08/01/2035
|
168
|
145
|
Series 2017-20J Cl. 1
2.850%—10/01/2037
|
133
|
175
|
Series 2018-20B Cl. 1
3.220%—02/01/2038
|
163
|
262
|
Series 2018-20G Cl. 1
3.540%—07/01/2038
|
245
|
387
|
Series 2022-25E Cl. 1
3.940%—05/01/2047
|
367
|
296
|
Series 2023-25B Cl. 1
4.610%—02/01/2048
|
293
|
362
|
Series 2022-25L Cl. 1
4.710%—12/01/2047
|
361
|
1,072
|
Series 2023-25A Cl. 1
4.910%—01/01/2048
|
1,079
|
681
|
Series 2023-25C Cl. 1
4.930%—03/01/2048
|
686
|
1,284
|
Series 2024-25A Cl. 1
5.050%—01/01/2049
|
1,303
|
1,093
|
Series 2022-25K Cl. 1
5.130%—11/01/2047
|
1,113
|
670
|
Series 2023-25H Cl. 1
5.150%—08/01/2048
|
683
|
1,410
|
Series 2023-25G Cl. 1
5.180%—07/01/2048
|
1,442
|
342
|
Series 2023-25L Cl. 1
5.280%—12/01/2048
|
352
|
525
|
Series 2023-25I CL. 1
5.410%—09/01/2048
|
542
|
1,200
|
Series 2023-25K Cl. 1
5.710%—11/01/2048
|
1,259
|
|
|
10,503
|
251
|
Vantage Data Centers LLC
Series 2020-2A Cl. A2
1.992%—09/15/20451
|
218
|
Asset-Backed Securities—Continued
|
||
Principal
Amount
|
|
Value
|
$1,234
|
Verizon Master Trust
Series 2024-1 Cl. A1A
5.000%—12/20/2028
|
$1,239
|
|
Wendy’s Funding LLC
|
|
199
|
Series 2021-1A Cl. A2I
2.370%—06/15/20511
|
174
|
975
|
Series 2021-1A Cl. A2II
2.775%—06/15/20511
|
822
|
369
|
Series 2019-1A Cl. A2I
3.783%—06/15/20491
|
356
|
|
|
1,352
|
Total Asset-Backed Securities
(Cost $38,797)
|
38,649
|
Collateralized Mortgage Obligations—4.3%
|
||
|
|
|
709
|
Bank
Series 2017-BNK6 Cl. A5
3.518%—07/15/2060
|
676
|
|
Benchmark Mortgage Trust
|
|
387
|
Series 2021-B26 Cl. A3
2.391%—06/15/2054
|
342
|
1,462
|
Series 2024-V5 Cl. A3
5.805%—01/10/2057
|
1,526
|
700
|
Series 2023-V2 Cl. A3
5.812%—05/15/20552
|
725
|
|
|
2,593
|
549
|
BMO Mortgage Trust
Series 2023-C7 Cl. A5
6.160%—12/15/2056
|
602
|
|
BX Commercial Mortgage Trust
|
|
403
|
Series 2021-VOLT Cl. A
6.148% (1 Month USD Term SOFR + 0.814%)
09/15/20361,2
|
398
|
188
|
Series 2019-XL Cl. A
6.368% (1 Month USD Term SOFR + 1.034%)
10/15/20361,2
|
188
|
284
|
Series 2023-XL3 Cl. A
7.095% (1 Month USD Term SOFR + 1.761%)
12/09/20401,2
|
286
|
|
|
872
|
1,305
|
BX Trust
Series 2022-CLS Cl. A
5.760%—10/13/20271
|
1,327
|
1,676
|
Citigroup Commercial Mortgage Trust
Series 2016-C2 Cl. A3
2.575%—08/10/2049
|
1,590
|
|
COMM Mortgage Trust
|
|
387
|
Series 2016-COR1 Cl. A3
2.826%—10/10/2049
|
368
|
216
|
Series 2014-CR21 Cl. A3
3.528%—12/10/2047
|
211
|
341
|
Series 2014-UBS3 Cl. A3
3.546%—06/10/2047
|
339
|
|
|
918
|
227
|
FRESB Mortgage Trust
Series 2019-SB63 Cl. A5H
2.550% (1 Month USD Term SOFR + 0.700%)
02/25/20392
|
222
|
550
|
GS Mortgage Securities Trust
Series 2016-GS3 Cl. A4
2.850%—10/10/2049
|
518
|
⬤
7
Harbor Core Bond Fund
PORTFOLIO OF INVESTMENTS—Continued
Principal Amounts, Value and Cost in Thousands
Collateralized Mortgage Obligations—Continued
|
||
Principal
Amount
|
|
Value
|
$101
|
GS Mortgage-Backed Securities Corp. Trust
Series 2020-PJ4 Cl. A2
3.000%—01/25/20511,2
|
$86
|
|
Morgan Stanley Bank of America Merrill Lynch
Trust
|
|
1,700
|
Series 2015-C22 Cl. A4
3.306%—04/15/2048
|
1,650
|
260
|
Series 2015-C25 Cl. A4
3.372%—10/15/2048
|
253
|
600
|
Series 2015-C26 Cl. A5
3.531%—10/15/2048
|
580
|
|
|
2,483
|
730
|
Morgan Stanley Capital I Trust
Series 2016-UB11 Cl. A4
2.782%—08/15/2049
|
683
|
49
|
PSMC Trust
Series 2020-2 Cl. A2
3.000%—05/25/20501,2
|
44
|
|
Seasoned Credit Risk Transfer Trust
|
|
135
|
Series 2020-2 Cl. MA
2.000%—11/25/2059
|
119
|
227
|
Series 2021-1 Cl. MA
2.000%—09/25/2060
|
196
|
255
|
Series 2021-3 Cl. MA
2.000%—03/25/2061
|
219
|
161
|
Series 2020-3 Cl. MA
2.000%—05/25/2060
|
141
|
149
|
Series 2020-1 Cl. MA
2.500%—08/25/2059
|
135
|
53
|
Series 2017-2 Cl. MA
3.000%—08/25/2056
|
49
|
105
|
Series 2018-1 Cl. MA
3.000%—05/25/2057
|
97
|
1,108
|
Series 2018-4 Cl. MA
3.500%—03/25/2058
|
1,046
|
164
|
Series 2019-2 Cl. MA
3.500%—08/25/2058
|
155
|
|
|
2,157
|
334
|
Tricon American Homes
Series 2020-SFR1 Cl. A
1.499%—07/17/20381
|
307
|
525
|
UBS Commercial Mortgage Trust
Series 2018-C13 Cl. ASB
4.241%—10/15/2051
|
514
|
380
|
Wells Fargo Commercial Mortgage Trust
Series 2015-C31 Cl. A4
3.695%—11/15/2048
|
368
|
Total Collateralized Mortgage Obligations
(Cost $16,114)
|
15,960
|
Corporate Bonds & Notes—26.8%
|
||
|
|
|
AEROSPACE & DEFENSE—0.3%
|
||
361
|
BAE Systems PLC
3.400%—04/15/20301
|
333
|
235
|
Lockheed Martin Corp.
4.700%—05/15/2046
|
227
|
563
|
Northrop Grumman Corp.
5.250%—05/01/2050
|
571
|
|
|
1,131
|
Corporate Bonds & Notes—Continued
|
||
Principal
Amount
|
|
Value
|
AUTO COMPONENTS—0.4%
|
||
$1,526
|
Aptiv PLC/Aptiv Corp.
3.250%—03/01/2032
|
$1,346
|
AUTOMOBILES—1.6%
|
||
635
|
BMW U.S. Capital LLC
3.450%—04/01/20271
|
614
|
1,463
|
Ford Motor Credit Co. LLC
2.900%—02/16/2028-02/10/2029
|
1,296
|
|
General Motors Financial Co., Inc.
|
|
1,157
|
2.400%—10/15/2028
|
1,030
|
700
|
4.300%—04/06/2029
|
673
|
|
|
1,703
|
|
Volkswagen Group of America Finance LLC
|
|
1,580
|
4.350%—06/08/20271
|
1,555
|
735
|
4.600%—06/08/20291
|
725
|
|
|
2,280
|
|
|
5,893
|
BANKS—5.4%
|
||
|
Bank of America Corp.
|
|
2,260
|
2.572%—10/20/20323
|
1,885
|
132
|
3.311%—04/22/20423
|
104
|
|
|
1,989
|
1,005
|
Bank of America Corp. MTN
4.948%—07/22/20283
|
1,007
|
850
|
Barclays PLC
5.304%—08/09/20263
|
850
|
1,455
|
BNP Paribas SA
4.400%—08/14/20281
|
1,421
|
813
|
Capital One Financial Corp.
5.468%—02/01/20293
|
815
|
|
Citigroup, Inc.
|
|
171
|
3.400%—05/01/2026
|
166
|
909
|
3.520%—10/27/20283
|
863
|
849
|
4.412%—03/31/20313
|
817
|
|
|
1,846
|
448
|
Credit Suisse AG
7.950%—01/09/2025
|
459
|
|
HSBC Holdings PLC
|
|
550
|
7.336%—11/03/20263
|
571
|
212
|
7.390%—11/03/20283
|
228
|
|
|
799
|
|
JPMorgan Chase & Co.
|
|
2,791
|
4.203%—07/23/20293
|
2,718
|
250
|
4.493%—03/24/20313
|
244
|
|
|
2,962
|
1,180
|
Lloyds Banking Group PLC
2.438%—02/05/20263
|
1,143
|
715
|
Macquarie Group Ltd.
5.033%—01/15/20301,3
|
710
|
710
|
Mitsubishi UFJ Financial Group, Inc.
5.017%—07/20/20283
|
711
|
418
|
National Securities Clearing Corp.
5.000%—05/30/20281
|
427
|
|
PNC Financial Services Group, Inc.
|
|
710
|
5.354%—12/02/20283
|
719
|
745
|
5.676%—01/22/20353
|
765
|
|
|
1,484
|
⬤
8
Harbor Core Bond Fund
PORTFOLIO OF INVESTMENTS—Continued
Principal Amounts, Value and Cost in Thousands
Corporate Bonds & Notes—Continued
|
||
Principal
Amount
|
|
Value
|
BANKS—Continued
|
||
$340
|
Toronto-Dominion Bank
1.950%—01/12/2027
|
$316
|
1,910
|
Truist Financial Corp. MTN
5.711%—01/24/20353
|
1,943
|
1,335
|
U.S. Bancorp
5.678%—01/23/20353
|
1,367
|
|
|
20,249
|
BIOTECHNOLOGY—0.1%
|
||
310
|
AbbVie, Inc.
4.500%—05/14/2035
|
303
|
BUILDING PRODUCTS—0.1%
|
||
|
Carlisle Cos., Inc.
|
|
350
|
2.200%—03/01/2032
|
286
|
285
|
2.750%—03/01/2030
|
251
|
|
|
537
|
CAPITAL MARKETS—2.3%
|
||
300
|
Bank of New York Mellon Corp. MTN
5.802%—10/25/20283
|
311
|
|
Blackstone Holdings Finance Co. LLC
|
|
173
|
2.800%—09/30/20501
|
108
|
856
|
3.500%—09/10/20491
|
617
|
|
|
725
|
630
|
Brookfield Finance, Inc.
3.900%—01/25/2028
|
610
|
2,126
|
Goldman Sachs Group, Inc.
3.800%—03/15/2030
|
2,002
|
54
|
KKR Group Finance Co. II LLC
5.500%—02/01/20431
|
52
|
170
|
KKR Group Finance Co. III LLC
5.125%—06/01/20441
|
157
|
860
|
KKR Group Finance Co. VI LLC
3.750%—07/01/20291
|
804
|
493
|
Macquarie Group Ltd.
1.340%—01/12/20271,3
|
455
|
|
Morgan Stanley MTN
|
|
665
|
3.125%—07/27/2026
|
638
|
2,545
|
3.622%—04/01/20313
|
2,350
|
|
|
2,988
|
500
|
UBS Group AG
4.125%—04/15/20261
|
489
|
|
|
8,593
|
COMMERCIAL SERVICES & SUPPLIES—0.4%
|
||
1,459
|
Ashtead Capital, Inc.
5.800%—04/15/20341
|
1,468
|
300
|
Moody’s Corp.
3.250%—05/20/2050
|
217
|
|
|
1,685
|
DIVERSIFIED FINANCIAL SERVICES—1.0%
|
||
662
|
AerCap Ireland Capital DAC/AerCap Global Aviation
Trust
5.100%—01/19/2029
|
658
|
875
|
Air Lease Corp.
3.250%—03/01/2025
|
855
|
810
|
Aviation Capital Group LLC
6.375%—07/15/20301
|
841
|
Corporate Bonds & Notes—Continued
|
||
Principal
Amount
|
|
Value
|
DIVERSIFIED FINANCIAL SERVICES—Continued
|
||
|
Capital One Financial Corp.
|
|
$435
|
4.927%—05/10/20283
|
$429
|
812
|
6.051%—02/01/20353
|
826
|
|
|
1,255
|
|
|
3,609
|
DIVERSIFIED REITS—0.5%
|
||
533
|
Federal Realty OP LP
1.250%—02/15/2026
|
494
|
1,475
|
Healthpeak OP LLC
3.250%—07/15/2026
|
1,421
|
|
|
1,915
|
DIVERSIFIED TELECOMMUNICATION SERVICES—0.4%
|
||
|
AT&T, Inc.
|
|
240
|
2.300%—06/01/2027
|
222
|
504
|
6.808% (3 Month USD Term SOFR + 1.442%)
06/12/20242
|
505
|
|
|
727
|
|
Verizon Communications, Inc.
|
|
735
|
2.355%—03/15/2032
|
611
|
162
|
4.500%—08/10/2033
|
157
|
|
|
768
|
|
|
1,495
|
ELECTRIC UTILITIES—2.4%
|
||
|
Berkshire Hathaway Energy Co.
|
|
685
|
4.450%—01/15/2049
|
595
|
275
|
6.125%—04/01/2036
|
299
|
|
|
894
|
1,030
|
Consumers Securitization Funding LLC
5.210%—09/01/2031
|
1,057
|
856
|
DTE Energy Co.
4.875%—06/01/2028
|
860
|
875
|
Duke Energy Florida LLC
3.800%—07/15/2028
|
853
|
|
Eversource Energy
|
|
1,280
|
2.900%—10/01/2024-03/01/2027
|
1,215
|
695
|
5.450%—03/01/2028
|
708
|
|
|
1,923
|
|
Exelon Corp.
|
|
560
|
4.450%—04/15/2046
|
486
|
62
|
4.700%—04/15/2050
|
56
|
243
|
5.100%—06/15/2045
|
228
|
|
|
770
|
1,670
|
Florida Power & Light Co.
2.450%—02/03/2032
|
1,425
|
|
Northern States Power Co.
|
|
158
|
4.500%—06/01/2052
|
143
|
370
|
6.250%—06/01/2036
|
412
|
|
|
555
|
|
Southern Co.
|
|
230
|
3.250%—07/01/2026
|
222
|
308
|
4.250%—07/01/2036
|
282
|
|
|
504
|
⬤
9
Harbor Core Bond Fund
PORTFOLIO OF INVESTMENTS—Continued
Principal Amounts, Value and Cost in Thousands
Corporate Bonds & Notes—Continued
|
||
Principal
Amount
|
|
Value
|
ELECTRIC UTILITIES—Continued
|
||
$230
|
Xcel Energy, Inc.
3.400%—06/01/2030
|
$212
|
|
|
9,053
|
ENTERTAINMENT—0.2%
|
||
700
|
Warnermedia Holdings, Inc.
5.141%—03/15/2052
|
602
|
EQUITY REAL ESTATE INVESTMENT TRUSTS (REITS)—0.6%
|
||
|
Alexandria Real Estate Equities, Inc.
|
|
1,090
|
2.000%—05/18/2032
|
864
|
266
|
4.700%—07/01/2030
|
260
|
115
|
4.750%—04/15/2035
|
111
|
|
|
1,235
|
825
|
Simon Property Group LP
5.500%—03/08/2033
|
853
|
|
|
2,088
|
FINANCIAL SERVICES—0.3%
|
||
322
|
American Express Co.
5.043%—05/01/20343
|
322
|
198
|
Berkshire Hathaway Finance Corp.
3.850%—03/15/2052
|
164
|
|
PNC Financial Services Group, Inc.
|
|
410
|
5.068%—01/24/20343
|
404
|
163
|
6.875%—10/20/20343
|
181
|
|
|
585
|
|
|
1,071
|
HEALTH CARE PROVIDERS & SERVICES—0.8%
|
||
853
|
Cigna Group
3.400%—03/01/2027
|
820
|
|
CVS Pass-Through Trust
|
|
162
|
5.773%—01/10/20331
|
161
|
72
|
5.880%—01/10/2028
|
71
|
859
|
8.353%—07/10/20311
|
927
|
|
|
1,159
|
425
|
Elevance Health, Inc.
4.750%—02/15/2033
|
421
|
590
|
PeaceHealth Obligated Group
1.375%—11/15/2025
|
552
|
|
|
2,952
|
INSURANCE—2.2%
|
||
419
|
AIA Group Ltd.
3.600%—04/09/20291
|
398
|
1,080
|
Corebridge Global Funding
5.200%—01/12/20291
|
1,085
|
325
|
Equitable Financial Life Global Funding
1.400%—07/07/20251
|
308
|
|
GA Global Funding Trust
|
|
664
|
1.950%—09/15/20281
|
568
|
420
|
3.850%—04/11/20251
|
413
|
|
|
981
|
530
|
Liberty Mutual Group, Inc.
4.569%—02/01/20291
|
520
|
276
|
Lincoln National Corp.
3.400%—01/15/2031
|
248
|
Corporate Bonds & Notes—Continued
|
||
Principal
Amount
|
|
Value
|
INSURANCE—Continued
|
||
|
Massachusetts Mutual Life Insurance Co.
|
|
$935
|
3.375%—04/15/20501
|
$676
|
160
|
5.672%—12/01/20521
|
165
|
|
|
841
|
1,760
|
Metropolitan Life Global Funding I
3.300%—03/21/20291
|
1,637
|
1,445
|
Peachtree Corners Funding Trust
3.976%—02/15/20251
|
1,421
|
950
|
Prudential Funding Asia PLC
3.625%—03/24/2032
|
861
|
|
|
8,300
|
INTERNET & CATALOG RETAIL—0.2%
|
||
834
|
Amazon.com, Inc.
4.100%—04/13/2062
|
718
|
MEDIA—0.9%
|
||
1,663
|
Charter Communications Operating LLC/Charter
Communications Operating Capital
6.384%—10/23/2035
|
1,678
|
360
|
Comcast Corp.
2.350%—01/15/2027
|
339
|
|
Cox Communications, Inc.
|
|
400
|
1.800%—10/01/20301
|
326
|
1,240
|
3.350%—09/15/20261
|
1,189
|
|
|
1,515
|
|
|
3,532
|
MULTI-UTILITIES—0.3%
|
||
|
PG&E Wildfire Recovery Funding LLC
|
|
502
|
3.594%—06/01/2032
|
484
|
294
|
4.022%—06/01/2033
|
284
|
183
|
4.722%—06/01/2037
|
181
|
|
|
949
|
257
|
Rogers Communications, Inc.
5.450%—10/01/2043
|
253
|
|
|
1,202
|
OIL, GAS & CONSUMABLE FUELS—1.4%
|
||
1,680
|
Columbia Pipelines Operating Co. LLC
6.036%—11/15/20331
|
1,765
|
600
|
Dominion Energy, Inc.
5.250%—08/01/2033
|
604
|
|
Energy Transfer LP
|
|
730
|
3.900%—07/15/2026
|
711
|
550
|
5.750%—02/15/2033
|
564
|
|
|
1,275
|
474
|
Occidental Petroleum Corp.
0.000%—10/10/20364
|
254
|
1,237
|
Schlumberger Holdings Corp.
3.900%—05/17/20281
|
1,201
|
230
|
Southern Co. Gas Capital Corp.
1.750%—01/15/2031
|
186
|
|
|
5,285
|
PASSENGER AIRLINES—0.4%
|
||
249
|
Air Canada Pass-Through Trust
3.600%—09/15/20281
|
236
|
308
|
Delta Air Lines Pass-Through Trust
3.625%—01/30/2029
|
293
|
⬤
10
Harbor Core Bond Fund
PORTFOLIO OF INVESTMENTS—Continued
Principal Amounts, Value and Cost in Thousands
Corporate Bonds & Notes—Continued
|
||
Principal
Amount
|
|
Value
|
PASSENGER AIRLINES—Continued
|
||
|
United Airlines Pass-Through Trust
|
|
$195
|
3.100%—01/07/2030
|
$179
|
784
|
4.000%—10/11/2027
|
759
|
|
|
938
|
|
|
1,467
|
PROFESSIONAL SERVICES—0.2%
|
||
765
|
Verisk Analytics, Inc.
3.625%—05/15/2050
|
571
|
ROAD & RAIL—0.6%
|
||
|
Canadian Pacific Railway Co.
|
|
460
|
4.200%—11/15/2069
|
375
|
190
|
6.125%—09/15/2115
|
209
|
|
|
584
|
155
|
Norfolk Southern Corp.
4.837%—10/01/2041
|
149
|
1,411
|
Ryder System, Inc. MTN
5.250%—06/01/2028
|
1,436
|
|
|
2,169
|
SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT—0.8%
|
||
|
Broadcom, Inc.
|
|
595
|
4.000%—04/15/20291
|
573
|
1,042
|
4.110%—09/15/2028
|
1,015
|
|
|
1,588
|
|
NXP BV/NXP Funding LLC/NXP USA, Inc.
|
|
595
|
2.700%—05/01/2025
|
576
|
1,010
|
3.150%—05/01/2027
|
959
|
|
|
1,535
|
|
|
3,123
|
SOFTWARE—0.2%
|
||
|
Oracle Corp.
|
|
340
|
1.650%—03/25/2026
|
318
|
343
|
3.950%—03/25/2051
|
267
|
|
|
585
|
SPECIALTY RETAIL—0.9%
|
||
|
Lowe’s Cos., Inc.
|
|
77
|
3.700%—04/15/2046
|
61
|
199
|
5.000%—04/15/2040
|
193
|
697
|
5.625%—04/15/2053
|
725
|
|
|
979
|
2,467
|
Penske Truck Leasing Co. LP/PTL Finance Corp.
5.550%—05/01/20281
|
2,513
|
|
|
3,492
|
TRADING COMPANIES & DISTRIBUTORS—0.5%
|
||
671
|
AerCap Ireland Capital DAC/AerCap Global Aviation
Trust
3.000%—10/29/2028
|
609
|
1,605
|
Ferguson Finance PLC
3.250%—06/02/20301
|
1,439
|
|
|
2,048
|
UNKNOWN G3—0.4%
|
||
1,560
|
SBA Small Business Investment Cos.
5.168%—03/10/2033
|
1,566
|
Corporate Bonds & Notes—Continued
|
||
Principal
Amount
|
|
Value
|
WATER UTILITIES—0.1%
|
||
$238
|
Aquarion Co.
4.000%—08/15/20241
|
$235
|
WIRELESS TELECOMMUNICATION SERVICES—0.9%
|
||
1,190
|
Rogers Communications, Inc.
3.200%—03/15/2027
|
1,138
|
|
T-Mobile USA, Inc.
|
|
1,001
|
5.050%—07/15/2033
|
1,003
|
1,038
|
5.150%—04/15/2034
|
1,046
|
|
|
2,049
|
|
|
3,187
|
Total Corporate Bonds & Notes
(Cost $100,620)
|
100,002
|
Mortgage Pass-Through—20.0%
|
||
|
|
|
|
Federal Home Loan Mortgage Corp.
|
|
216
|
2.000%—06/01/2050 |
179
|
6,250
|
2.500%—03/01/2051-05/01/2052 |
5,337
|
7,140
|
3.000%—01/01/2033-08/01/2050 |
6,420
|
2,107
|
3.500%—05/01/2042-04/01/2050 |
1,967
|
4,117
|
4.000%—12/01/2037-10/01/2047 |
3,945
|
3,159
|
4.500%—03/01/2049-05/01/2053 |
3,096
|
804
|
5.000%—10/01/2052-05/01/2053 |
805
|
127
|
5.365% (USD IBOR Consumer Cash Fallback 12-month+ 1.598%) 06/01/20472
|
130
|
3,464
|
5.500%—12/01/2052-12/01/2053 |
3,517
|
|
|
25,396
|
|
Federal National Mortgage Association
|
|
4,778
|
2.000%—08/01/2050-01/01/2052 |
3,908
|
14,498
|
2.500%—01/01/2032-04/01/2052 |
12,657
|
5,961
|
3.000%—02/01/2034-12/01/2051 |
5,428
|
5,999
|
3.500%—05/01/2037-06/01/2050 |
5,577
|
6,430
|
4.000%—03/01/2038-07/01/2052 |
6,175
|
4,978
|
4.500%—05/01/2046-08/01/2052 |
4,895
|
6,248
|
5.000%—06/01/2050-08/01/2053 |
6,236
|
979
|
5.500%—11/01/2052 |
989
|
128
|
7.327% (Fed 12 Month Treasury Average Constant Maturity Treasury + 2.316%) 12/01/20362
|
133
|
|
|
45,998
|
|
Government National Mortgage Association
|
|
2,159
|
2.500%—01/20/2051-09/20/2051 |
1,869
|
359
|
4.000%—09/20/2041-09/15/2046 |
349
|
779
|
4.500%—01/15/2042-08/20/2047 |
774
|
|
|
2,992
|
Total Mortgage Pass-Through
(Cost $75,767)
|
74,386
|
Municipal Bonds—0.5%
|
||
|
|
|
145
|
Metropolitan Water Reclamation District of Greater
Chicago
5.720%—12/01/2038
|
156
|
83
|
Michigan State University
4.165%—08/15/2122
|
66
|
440
|
New York City Transitional Finance Authority Future
Tax Secured Revenue
3.950%—08/01/2032
|
419
|
555
|
New York State Urban Development Corp.
5.770%—03/15/2039
|
572
|
⬤
11
Harbor Core Bond Fund
PORTFOLIO OF INVESTMENTS—Continued
Principal Amounts, Value and Cost in Thousands
Municipal Bonds—Continued
|
||
Principal
Amount
|
|
Value
|
$520
|
Sales Tax Securitization Corp.
4.637%—01/01/2040
|
$500
|
300
|
State of California
7.500%—04/01/2034
|
366
|
Total Municipal Bonds
(Cost $2,182)
|
$2,079
|
U.S. Government Obligations—35.7%
|
||
|
|
|
|
U.S. Treasury Bonds
|
|
1,380
|
3.000%—08/15/2052 |
1,095
|
1,542
|
3.625%—05/15/2053 |
1,386
|
1,095
|
3.875%—05/15/2043 |
1,030
|
18,787
|
4.125%—08/15/2053 |
18,479
|
32,646
|
4.375%—08/15/2043 |
32,891
|
|
|
54,881
|
U.S. Government Obligations—Continued
|
||
Principal
Amount
|
|
Value
|
$1,912
|
U.S. Treasury Inflation-Indexed Notes
0.125%—01/15/2030
|
$1,749
|
|
U.S. Treasury Notes
|
|
16,852
|
3.875%—08/15/2033 |
16,754
|
26,942
|
4.375%—11/30/2028 |
27,537
|
18,658
|
4.625%—11/15/2026 |
18,946
|
13,095
|
5.000%—10/31/2025 |
13,245
|
|
|
76,482
|
Total U.S. Government Obligations
(Cost $132,531)
|
133,112
|
|
TOTAL INVESTMENTS—97.7%
(Cost $366,011)
|
364,188
|
|
CASH AND OTHER ASSETS, LESS LIABILITIES—2.3%
|
8,461
|
|
TOTAL NET ASSETS—100.0%
|
$372,649
|
FAIR VALUE MEASUREMENTS
All investments as of January 31, 2024 (as disclosed in the preceding Portfolio of Investments) were classified as Level 2.
For more information on valuation inputs and their aggregation into the levels identified above, please refer to the Fair
Value Measurements and Disclosures in Note 2 of the accompanying Notes to Portfolios of Investments.
1
Securities purchased in a transaction exempt from registration under Rule 144A of the Securities Act of 1933. These securities
may be resold in transactions exempt from registration, normally to qualified institutional buyers. The Fund has no right to demand
registration of these securities. As of January 31, 2024, the aggregate value of these securities was $55,555 or 15% of net assets.
2
Variable or floating rate security; the stated rate represents the rate in effect as of January 31, 2024. The variable rate
for such securities may be based on the indicated reference rate and spread or on an underlying asset or pool of assets rather than a reference
rate and may be determined by current interest rates, prepayments or other financial indicators.
3
Rate changes from fixed to variable rate at a specified date prior to its final maturity. Stated rate is fixed rate currently
in effect and stated date is the final maturity date.
4
Zero coupon bond
CLO
Collateralized Loan Obligation
MTN
Medium Term Loan
The accompanying notes are an integral part of the Portfolios of Investments.
⬤
12
Harbor Core Plus Fund
PORTFOLIO OF INVESTMENTS—January 31, 2024 (Unaudited)
Principal Amounts, Value and Cost in Thousands
Asset-Backed Securities—15.1%
|
||
Principal
Amount
|
|
Value
|
$3,017
|
Air Canada Pass-Through Trust
Series 2017-1 Series 2017-1AA Cl. PTT
3.300%—07/15/20311
|
$2,740
|
3,582
|
Aligned Data Centers Issuer LLC
Series 2021-1A Cl. A2
1.937%—08/15/20461
|
3,236
|
1,347
|
American Airlines Pass-Through Trust
Series 2015-2 Cl. AA
3.600%—03/22/2029
|
1,268
|
3,029
|
American Tower Trust I
5.490%—03/15/20281
|
3,073
|
2,559
|
AMMC CLO XII Ltd.
Series 2013-12A Cl. AR2
6.581% (3 Month USD Term SOFR + 1.212%)
11/10/20301,2
|
2,564
|
2,418
|
Apidos CLO XXVI Ltd.
Series 2017-26A Cl. A1AR
6.460% (3 Month USD Term SOFR + 1.162%)
07/18/20291,2
|
2,422
|
4,000
|
ARES LII CLO Ltd.
Series 2019-52A Cl. A1R
6.629% (3 Month USD Term SOFR + 1.312%)
04/22/20311,2
|
4,015
|
4,905
|
Avis Budget Rental Car Funding AESOP LLC
Series 2024-1A Cl. A
5.360%—06/20/20301
|
4,979
|
3,318
|
Birch Grove CLO Ltd.
Series 19A Cl. AR
6.776% (3 Month USD Term SOFR + 1.392%)
06/15/20311,2
|
3,323
|
5,976
|
CIFC Funding Ltd.
Series 2023-3A Cl. A
6.916% (3 Month USD Term SOFR + 1.600%)
01/20/20371,2
|
5,982
|
4,439
|
Citizens Auto Receivables Trust
Series 2023-2 Cl. A3
5.830%—02/15/20281
|
4,505
|
2,239
|
DB Master Finance LLC
Series 2021-1A Cl. A2II
2.493%—11/20/20511
|
1,977
|
1,313
|
Domino’s Pizza Master Issuer LLC
Series 2021-1A Cl. A2I
2.662%—04/25/20511
|
1,179
|
7,293
|
FirstKey Homes Trust
Series 2021-SFR1 Cl. A
1.538%—08/17/20381
|
6,681
|
3,941
|
GMF Floorplan Owner Revolving Trust
Series 2023-2 Cl. A
5.340%—06/15/20301
|
4,039
|
3,116
|
GSAA Home Equity Trust
Series 2006-20 Cl. 1A2
5.810% (1 Month USD Term SOFR + 0.474%)
12/25/20462
|
869
|
3,030
|
Home Partners of America Trust
Series 2022-1 Cl. A
3.930%—04/17/20391
|
2,923
|
432
|
IXIS Real Estate Capital Trust
Series 2005-HE1 Cl. M4
6.500% (1 Month USD Term SOFR + 1.164%)
06/25/20352
|
438
|
3,617
|
JetBlue Pass-Through Trust
Series 2020-1 Cl. A
4.000%—05/15/2034
|
3,343
|
Asset-Backed Securities—Continued
|
||
Principal
Amount
|
|
Value
|
$642
|
JP Morgan Mortgage Acquisition Trust
Series 2007-HE1 Cl. AF3
4.266%—05/25/20353
|
$421
|
|
Morgan Stanley ABS Capital I, Inc. Trust
|
|
1,495
|
Series 2007-HE1 Cl. A2C
5.600% (1 Month USD Term SOFR + 0.264%)
11/25/20362
|
850
|
2,803
|
Series 2007-HE6 Cl. A3
5.630% (1 Month USD Term SOFR + 0.294%)
05/25/20372
|
2,421
|
|
|
3,271
|
2,790
|
Palmer Square CLO Ltd.
Series 2020-3A Cl. A1R2
7.025% (3 Month USD Term SOFR + 1.650%)
11/15/20361,2
|
2,800
|
2,329
|
Palmer Square Loan Funding Ltd.
Series 2021-4A Cl. A1
6.376% (3 Month USD Term SOFR + 1.062%)
10/15/20291,2
|
2,317
|
2,863
|
PFS Financing Corp.
Series 2023-B Cl. A
5.270%—05/15/20281
|
2,879
|
|
Planet Fitness Master Issuer LLC
|
|
4,300
|
Series 2022-1A Cl. A2I
3.251%—12/05/20511
|
4,024
|
2,217
|
Series 2018-1A Cl. A2II
4.666%—09/05/20481
|
2,167
|
|
|
6,191
|
3,034
|
SBA Tower Trust
6.599%—01/15/20281
|
3,121
|
3,404
|
Servpro Master Issuer, LLC
Series 2021-1A Cl. A2
2.394%—04/25/20511
|
2,988
|
2,287
|
Specialty Underwriting & Residential Finance Trust
Series 2006-BC4 Cl. A2B
5.670% (1 Month USD Term SOFR + 0.334%)
09/25/20372
|
744
|
7,000
|
Stack Infrastructure Issuer LLC
Series 2021-1A Cl. A2
1.877%—03/26/20461
|
6,397
|
6,878
|
Taco Bell Funding LLC
Series 2021-1A Cl. A2I
1.946%—08/25/20511
|
6,244
|
5,172
|
Tricon Residential Trust
Series 2023-SFR1 Cl. A
5.100%—07/17/20401
|
5,192
|
5,000
|
Trinity Rail Leasing LLC
Series 2020-2A Cl. A2
2.560%—11/19/20501
|
4,454
|
|
U.S. Small Business Administration
|
|
4,918
|
Series 2023-25E Cl. 1
4.620%—05/01/2048
|
4,867
|
4,857
|
Series 2023-25F Cl. 1
4.930%—06/01/2048
|
4,896
|
2,961
|
Series 2023-25H Cl. 1
5.150%—08/01/2048
|
3,019
|
5,010
|
Series 2023-25G Cl. 1
5.180%—07/01/2048
|
5,120
|
4,773
|
Series 2023-25K Cl. 1
5.710%—11/01/2048
|
5,006
|
502
|
Series 2009-20A Cl. 1
5.720%—01/01/2029
|
497
|
⬤
13
Harbor Core Plus Fund
PORTFOLIO OF INVESTMENTS—Continued
Principal Amounts, Value and Cost in Thousands
Asset-Backed Securities—Continued
|
||
Principal
Amount
|
|
Value
|
$4,716
|
Series 2023-25J Cl. 1
5.820%—10/01/2048
|
$4,968
|
845
|
Series 2008-20H Cl. 1
6.020%—08/01/2028
|
854
|
|
|
29,227
|
1,084
|
United Airlines Pass-Through Trust
Series 2019-2 Cl. AA
2.700%—11/01/2033
|
931
|
6,810
|
VB-S1 Issuer LLC
Series 2022-1A Cl. C2I
3.156%—02/15/20521
|
6,203
|
6,824
|
Wendy’s Funding LLC
Series 2021-1A Cl. A2I
2.370%—06/15/20511
|
5,967
|
Total Asset-Backed Securities
(Cost $153,428)
|
148,903
|
Collateralized Mortgage Obligations—9.4%
|
||
|
|
|
3,346
|
Angel Oak Mortgage Trust
Series 2022-1 Cl. A1
2.881%—12/25/20661,3
|
3,039
|
5,407
|
Argent Securities Trust
Series 2006-W4 Cl. A2C
5.770% (1 Month USD Term SOFR + 0.434%)
05/25/20362
|
1,312
|
496
|
Argent Securities, Inc. Asset-Backed Pass-Through
Certificates
Series 2004-W11 Cl. M3
6.575% (1 Month USD Term SOFR + 1.239%)
11/25/20342
|
487
|
6,589
|
Banc of America Alternative Loan Trust
Series 2006-7 Cl. A3
5.913%—10/25/20362
|
1,890
|
397
|
Banc of America Funding Trust
Series 2007-C Cl. 7A5
6.051% (1 Month USD Term SOFR + 0.714%)
05/20/20472
|
361
|
4,948
|
Bank5
Series 2023-5YR2 Cl. A3
6.656%—07/15/2056
|
5,286
|
|
BCAP LLC Trust
|
|
129
|
Series 2011-RR5 Cl. 12A1
4.531%—03/26/20371,3
|
126
|
1,226
|
Series 2011-RR4 Cl. 8A1
5.250%—02/26/20361,2
|
524
|
2,755
|
Series 2007-AA2 Cl. 12A1
5.870% (1 Month USD Term SOFR + 0.534%)
05/25/20472
|
2,607
|
|
|
3,257
|
|
Bear Stearns ARM Trust
|
|
127
|
Series 2004-1 Cl. 12A5
4.369%—04/25/20342
|
110
|
7
|
Series 2000-2 Cl. A1
4.914%—11/25/20302
|
7
|
|
|
117
|
4,698
|
BMO Mortgage Trust
Series 2023-C7 Cl. A5
6.160%—12/15/2056
|
5,152
|
Collateralized Mortgage Obligations—Continued
|
||
Principal
Amount
|
|
Value
|
|
BX Commercial Mortgage Trust
|
|
$1,429
|
Series 2021-VOLT Cl. A
6.148% (1 Month USD Term SOFR + 0.814%)
09/15/20361,2
|
$1,411
|
3,337
|
Series 2022-LP2 Cl. A
6.346% (U.S. Treasury Yield Curve Rate T Note 1
Year Constant Maturity + 1.013%) 02/15/20391,2
|
3,312
|
|
|
4,723
|
|
BX Trust
|
|
2,842
|
Series 2022-CLS Cl. A
5.760%—10/13/20271
|
2,891
|
3,341
|
Series 2024-BIO Cl. A
6.942% (U.S. Treasury Yield Curve Rate T Note 1
Month Constant Maturity + 1.642%) 02/15/20411,2
|
3,346
|
|
|
6,237
|
3,390
|
Citigroup Commercial Mortgage Trust
Series 2015-GC27 Cl. A5
3.137%—02/10/2048
|
3,323
|
|
Countrywide Alternative Loan Trust
|
|
1,188
|
Series 2005-20CB Cl. 2A5
5.500%—07/25/2035
|
799
|
1,577
|
Series 2006-6CB Cl. 1A2
5.500% (1 Month USD Term SOFR + 0.514%)
05/25/20362
|
1,223
|
|
|
2,022
|
2,845
|
Countrywide Alternative Loan Trust Resecuritization
Series 2008-1R Cl. 2A3
6.000%—08/25/2037
|
1,453
|
141
|
Countrywide Asset-Backed Certificates Trust
Series 2006-2 Cl. M1
6.050% (1 Month USD Term SOFR + 0.714%)
06/25/20362
|
140
|
185
|
CSFB Mortgage-Backed Pass-Through Certificates
Series 2005-10 Cl. 9A1
6.000%—11/25/2035
|
133
|
2,433
|
Deutsche Alt-A Securities, Inc. Mortgage Loan
Trust
Series 2007-AR2 Cl. A1
5.750% (1 Month USD Term SOFR + 0.414%)
03/25/20372
|
2,172
|
772
|
DSLA Mortgage Loan Trust
Series 2006-AR1 Cl. 1A1A
5.978% (Fed 12 Month Treasury Average Constant
Maturity Treasury + 0.920%) 03/19/20462
|
620
|
8,000
|
First Franklin Mortgage Loan Trust
Series 2006-FF14 Cl. A6
5.760% (1 Month USD Term SOFR + 0.424%)
10/25/20362
|
6,319
|
112
|
First Horizon Asset Securities, Inc.
Series 2005-AR6 Cl. 4A1
5.450%—02/25/20362
|
105
|
—
|
FNT Mortgage-Backed Pass-Through Trust
Series 2001-3 Cl. 1A1
6.750%—08/21/2031
|
—
|
3,888
|
GS Mortgage Securities Trust
Series 2015-GC30 Cl. A3
3.119%—05/10/2050
|
3,787
|
2,850
|
GSMPS Mortgage Loan Trust
Series 2006-RP2 Cl. 1AF1
5.850% (1 Month USD Term SOFR + 0.514%)
04/25/20361,2
|
2,345
|
⬤
14
Harbor Core Plus Fund
PORTFOLIO OF INVESTMENTS—Continued
Principal Amounts, Value and Cost in Thousands
Collateralized Mortgage Obligations—Continued
|
||
Principal
Amount
|
|
Value
|
$177
|
GSR Mortgage Loan Trust
Series 2005-AR3 Cl. 3A1
5.425%—05/25/20352
|
$129
|
2
|
IndyMac ARM Trust
Series 2001-H2 Cl. A2
5.545%—01/25/20322
|
1
|
543
|
IndyMac INDX Mortgage Loan Trust
Series 2005-AR31 Cl. 1A1
3.644%—01/25/20362
|
477
|
|
JP Morgan Mortgage Trust
|
|
853
|
Series 2006-A6 Cl. 1A4L
4.133%—10/25/20362
|
613
|
22
|
Series 2006-S1 Cl. 3A1
5.500%—04/25/2036
|
22
|
4,405
|
Series 2023-4 Cl. 1A4A
5.500%—11/25/20531,2
|
4,384
|
|
|
5,019
|
421
|
Merrill Lynch Alternative Note Asset Trust
Series 2007-F1 Cl. 2A6
6.000%—03/25/2037
|
154
|
1,901
|
MetLife Securitization Trust
Series 2018-1A Cl. A
3.750%—03/25/20571,2
|
1,824
|
1,933
|
OBX Trust
Series 2018-1 Cl. A2
6.100% (U.S. Treasury Yield Curve Rate T Note 1
Month Constant Maturity + 0.764%) 06/25/20571,2
|
1,843
|
17,461
|
Residential Asset Securitization Trust
Series 2007-A8 Cl. 2A1
6.250%—08/25/2037
|
4,204
|
134
|
RFMSI Trust
Series 2007-SA1 Cl. 2A2
4.864%—02/25/20372
|
92
|
1,235
|
Saxon Asset Securities Trust
Series 2006-3 Cl. A3
5.790% (1 Month USD Term SOFR + 0.454%)
10/25/20462
|
1,197
|
|
Sequoia Mortgage Trust
|
|
4,542
|
Series 2023-1 Cl. A4
5.000%—01/25/20531,2
|
4,471
|
4,081
|
Series 2023-2 Cl. A4
5.000%—03/25/20531,2
|
4,007
|
|
|
8,478
|
218
|
STARM Mortgage Loan Trust
Series 2007-S1 Cl. 1A
5.541%—01/25/20372
|
157
|
49
|
Structured Adjustable Rate Mortgage Loan Trust
Series 2005-7 Cl. 3A1
5.557%—04/25/20352
|
49
|
4,179
|
Towd Point Mortgage Trust
Series 2019-1 Cl. A1
3.750%—03/25/20581,2
|
4,015
|
2,316
|
Tricon American Homes
Series 2020-SFR1 Cl. A
1.499%—07/17/20381
|
2,133
|
|
WaMu Mortgage Pass-Through Certificates Trust
|
|
1,429
|
Series 2006-AR8 Cl. 1A4
4.405%—08/25/20462
|
1,254
|
Collateralized Mortgage Obligations—Continued
|
||
Principal
Amount
|
|
Value
|
$135
|
Series 2005-AR6 Cl. 2A1A
5.910% (1 Month USD Term SOFR + 0.574%)
04/25/20452
|
$131
|
64
|
Series 2005-AR13 Cl. A1A1
6.030% (1 Month USD Term SOFR + 0.694%)
10/25/20452
|
61
|
|
|
1,446
|
7,117
|
Wells Fargo Commercial Mortgage Trust
Series 2018-C48 Cl. A5
4.302%—01/15/2052
|
6,936
|
Total Collateralized Mortgage Obligations
(Cost $105,589)
|
$92,434
|
Corporate Bonds & Notes—27.9%
|
||
|
|
|
AUTO COMPONENTS—0.6%
|
||
5,000
|
Aptiv PLC/Aptiv Corp.
4.150%—05/01/2052
|
3,987
|
1,980
|
ZF North America Capital, Inc.
6.875%—04/14/20281
|
2,041
|
|
|
6,028
|
AUTOMOBILES—0.8%
|
||
|
Ford Motor Credit Co. LLC
|
|
4,000
|
3.375%—11/13/2025
|
3,840
|
1,900
|
6.950%—03/06/2026
|
1,943
|
|
|
5,783
|
2,352
|
General Motors Financial Co., Inc.
5.800%—06/23/2028
|
2,416
|
|
|
8,199
|
BANKS—3.0%
|
||
5,703
|
Barclays PLC
6.490%—09/13/20294
|
5,956
|
|
Citigroup, Inc.
|
|
4,700
|
2.572%—06/03/20314
|
4,051
|
4,605
|
3.875%—02/18/20264
|
4,255
|
|
|
8,306
|
2,850
|
HSBC Holdings PLC
7.390%—11/03/20284
|
3,062
|
4,000
|
JPMorgan Chase & Co.
1.470%—09/22/20274
|
3,653
|
2,637
|
PNC Financial Services Group, Inc.
6.615%—10/20/20274
|
2,742
|
|
Truist Financial Corp. MTN
|
|
3,001
|
6.123%—10/28/20334
|
3,118
|
2,592
|
7.161%—10/30/20294
|
2,800
|
|
|
5,918
|
|
|
29,637
|
BUILDING PRODUCTS—0.3%
|
||
2,412
|
Carlisle Cos., Inc.
2.200%—03/01/2032
|
1,968
|
1,028
|
Summit Materials LLC/Summit Materials Finance
Corp.
7.250%—01/15/20311
|
1,069
|
|
|
3,037
|
CAPITAL MARKETS—2.9%
|
||
6,000
|
Blackstone Holdings Finance Co. LLC
3.200%—01/30/20521
|
4,148
|
⬤
15
Harbor Core Plus Fund
PORTFOLIO OF INVESTMENTS—Continued
Principal Amounts, Value and Cost in Thousands
Corporate Bonds & Notes—Continued
|
||
Principal
Amount
|
|
Value
|
CAPITAL MARKETS—Continued
|
||
$5,700
|
Blue Owl Credit Income Corp.
4.700%—02/08/2027
|
$5,455
|
6,096
|
Brookfield Capital Finance LLC
6.087%—06/14/2033
|
6,414
|
780
|
Golub Capital BDC, Inc.
7.050%—12/05/2028
|
809
|
1,397
|
HPS Corporate Lending Fund
6.750%—01/30/20291
|
1,403
|
5,850
|
KKR Group Finance Co. VII LLC
3.625%—02/25/20501
|
4,225
|
2,675
|
Main Street Capital Corp.
6.950%—03/01/2029
|
2,720
|
1,709
|
Oaktree Specialty Lending Corp.
2.700%—01/15/2027
|
1,540
|
1,893
|
Oaktree Strategic Credit Fund
8.400%—11/14/20281
|
2,026
|
|
|
28,740
|
COMMERCIAL SERVICES & SUPPLIES—0.8%
|
||
4,851
|
Element Fleet Management Corp.
6.271%—06/26/20261
|
4,941
|
3,519
|
Triton Container International Ltd.
2.050%—04/15/20261
|
3,243
|
|
|
8,184
|
CONSUMER FINANCE—0.3%
|
||
2,856
|
Rocket Mortgage LLC/Rocket Mortgage Co.-Issuer,
Inc.
2.875%—10/15/20261
|
2,623
|
DIVERSIFIED FINANCIAL SERVICES—0.7%
|
||
3,070
|
Cantor Fitzgerald LP
7.200%—12/12/20281
|
3,175
|
750
|
Depository Trust & Clearing Corp.
3.375%—06/20/20261,4
|
638
|
2,078
|
GGAM Finance Ltd.
8.000%—02/15/20271
|
2,143
|
916
|
National Rural Utilities Cooperative Finance Corp.
8.489% (1 Month USD Term SOFR + 3.172%)
04/30/20432
|
907
|
|
|
6,863
|
DIVERSIFIED TELECOMMUNICATION SERVICES—0.2%
|
||
2,915
|
Verizon Communications, Inc.
3.700%—03/22/2061
|
2,176
|
ELECTRIC UTILITIES—1.7%
|
||
|
CMS Energy Corp.
|
|
4,171
|
3.750%—12/01/20504
|
3,375
|
1,647
|
4.750%—06/01/20504
|
1,493
|
|
|
4,868
|
3,073
|
DTE Electric Securitization Funding II LLC
5.970%—03/01/2033
|
3,218
|
|
Exelon Corp.
|
|
3,100
|
4.050%—04/15/2030
|
2,959
|
1,500
|
5.625%—06/15/2035
|
1,529
|
|
|
4,488
|
900
|
Jersey Central Power & Light Co.
4.300%—01/15/20261
|
884
|
Corporate Bonds & Notes—Continued
|
||
Principal
Amount
|
|
Value
|
ELECTRIC UTILITIES—Continued
|
||
$2,877
|
New England Power Co.
5.936%—11/25/20521
|
$3,027
|
|
|
16,485
|
ENTERTAINMENT—0.2%
|
||
2,000
|
Warnermedia Holdings, Inc.
5.141%—03/15/2052
|
1,720
|
EQUITY REAL ESTATE INVESTMENT TRUSTS (REITS)—2.9%
|
||
1,400
|
Agree LP
2.900%—10/01/2030
|
1,212
|
2,100
|
Alexandria Real Estate Equities, Inc.
2.750%—12/15/2029
|
1,868
|
4,905
|
Boston Properties LP
2.750%—10/01/2026
|
4,575
|
5,922
|
Corporate Office Properties LP
2.000%—01/15/2029
|
4,979
|
|
EPR Properties
|
|
1,900
|
4.500%—06/01/2027
|
1,809
|
600
|
4.950%—04/15/2028
|
577
|
|
|
2,386
|
5,000
|
Equinix, Inc.
1.000%—09/15/2025
|
4,687
|
4,500
|
GLP Capital LP/GLP Financing II, Inc.
4.000%—01/15/2030
|
4,104
|
4,700
|
Realty Income Corp.
3.400%—01/15/2030
|
4,332
|
|
|
28,143
|
FINANCIAL SERVICES—1.5%
|
||
3,249
|
Charles Schwab Corp.
5.643%—05/19/20294
|
3,326
|
3,662
|
Macquarie Airfinance Holdings Ltd.
8.125%—03/30/20291
|
3,803
|
1,738
|
Navient Corp.
5.000%—03/15/2027
|
1,659
|
2,800
|
OneMain Finance Corp.
6.875%—03/15/2025
|
2,813
|
2,846
|
PNC Financial Services Group, Inc.
6.875%—10/20/20344
|
3,164
|
|
|
14,765
|
HEALTH CARE PROVIDERS & SERVICES—1.5%
|
||
|
CVS Pass-Through Trust
|
|
348
|
6.943%—01/10/2030
|
358
|
4,166
|
7.507%—01/10/20321
|
4,381
|
|
|
4,739
|
4,000
|
HCA, Inc.
5.375%—09/01/2026
|
4,023
|
|
IQVIA, Inc.
|
|
2,400
|
5.700%—05/15/20281
|
2,447
|
800
|
6.250%—02/01/20291
|
834
|
|
|
3,281
|
3,347
|
Pediatrix Medical Group, Inc.
5.375%—02/15/20301
|
3,003
|
|
|
15,046
|
INDUSTRIAL CONGLOMERATES—0.8%
|
||
4,540
|
Ashtead Capital, Inc.
5.550%—05/30/20331
|
4,506
|
⬤
16
Harbor Core Plus Fund
PORTFOLIO OF INVESTMENTS—Continued
Principal Amounts, Value and Cost in Thousands
Corporate Bonds & Notes—Continued
|
||
Principal
Amount
|
|
Value
|
INDUSTRIAL CONGLOMERATES—Continued
|
||
$3,800
|
Textron, Inc.
2.450%—03/15/2031
|
$3,237
|
|
|
7,743
|
INSURANCE—1.1%
|
||
7,099
|
GA Global Funding Trust
1.950%—09/15/20281
|
6,077
|
1,687
|
Global Atlantic Fin Co.
7.950%—06/15/20331
|
1,876
|
3,026
|
SBL Holdings, Inc.
5.000%—02/18/20311
|
2,497
|
|
|
10,450
|
MEDIA—0.2%
|
||
2,400
|
Charter Communications Operating LLC/Charter
Communications Operating Capital
6.384%—10/23/2035
|
2,421
|
METALS & MINING—0.5%
|
||
5,267
|
Anglo American Capital PLC
3.875%—03/16/20291
|
4,959
|
OIL, GAS & CONSUMABLE FUELS—1.7%
|
||
3,209
|
Columbia Pipelines Operating Co. LLC
6.036%—11/15/20331
|
3,371
|
3,145
|
Enbridge, Inc.
5.750%—07/15/20804
|
2,947
|
2,347
|
Energy Transfer LP
8.586% (1 Month USD Term SOFR + 3.279%)
11/01/20662
|
2,093
|
1,094
|
Hess Midstream Operations LP
5.500%—10/15/20301
|
1,070
|
2,978
|
New Fortress Energy, Inc.
6.750%—09/15/20251
|
2,945
|
7,629
|
Occidental Petroleum Corp.
0.000%—10/10/20365
|
4,082
|
|
|
16,508
|
PHARMACEUTICALS—0.3%
|
||
3,000
|
Teva Pharmaceutical Finance Netherlands III BV
6.750%—03/01/2028
|
3,078
|
PROFESSIONAL SERVICES—0.2%
|
||
1,642
|
KBR, Inc.
4.750%—09/30/20281
|
1,516
|
ROAD & RAIL—0.7%
|
||
3,800
|
Norfolk Southern Corp.
4.050%—08/15/2052
|
3,176
|
4,077
|
Ryder System, Inc. MTN
5.250%—06/01/2028
|
4,150
|
|
|
7,326
|
SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT—0.6%
|
||
1,230
|
KLA Corp.
5.650%—11/01/2034
|
1,318
|
4,600
|
NXP BV/NXP Funding LLC/NXP USA, Inc.
3.875%—06/18/2026
|
4,484
|
|
|
5,802
|
SOFTWARE—0.6%
|
||
3,500
|
Oracle Corp.
3.600%—04/01/2040
|
2,801
|
Corporate Bonds & Notes—Continued
|
||
Principal
Amount
|
|
Value
|
SOFTWARE—Continued
|
||
$3,600
|
VMware LLC
4.650%—05/15/2027
|
$3,569
|
|
|
6,370
|
SPECIALTY RETAIL—0.9%
|
||
2,900
|
Group 1 Automotive, Inc.
4.000%—08/15/20281
|
2,676
|
2,956
|
Lithia Motors, Inc.
3.875%—06/01/20291
|
2,656
|
3,612
|
Macy’s Retail Holdings LLC
5.875%—03/15/20301
|
3,428
|
|
|
8,760
|
TRADING COMPANIES & DISTRIBUTORS—2.0%
|
||
6,200
|
Aircastle Ltd.
2.850%—01/26/20281
|
5,561
|
5,300
|
Aviation Capital Group LLC
4.125%—08/01/20251
|
5,164
|
4,800
|
Ferguson Finance PLC
4.650%—04/20/20321
|
4,693
|
3,875
|
LKQ Corp.
5.750%—06/15/2028
|
3,957
|
|
|
19,375
|
WIRELESS TELECOMMUNICATION SERVICES—0.9%
|
||
1,118
|
American Tower Corp.
3.650%—03/15/2027
|
1,080
|
4,000
|
Crown Castle, Inc.
3.700%—06/15/2026
|
3,877
|
4,000
|
T-Mobile USA, Inc.
5.050%—07/15/2033
|
4,006
|
|
|
8,963
|
Total Corporate Bonds & Notes
(Cost $283,349)
|
274,917
|
Mortgage Pass-Through—25.1%
|
||
|
|
|
|
Federal Home Loan Mortgage Corp.
|
|
29,105
|
2.500%—07/01/2050-05/01/2052 |
24,736
|
11,612
|
3.000%—02/01/2033-12/01/2046 |
10,762
|
194
|
3.500%—01/01/2026-02/01/2035 |
188
|
11,939
|
4.000%—03/01/2025-11/01/2048 |
11,488
|
148
|
4.500%—12/01/2040-09/01/2041 |
148
|
386
|
5.500%—02/01/2038-07/01/2038 |
398
|
1,210
|
6.000%—01/01/2029-05/01/2040 |
1,260
|
3
|
6.307% (U.S. Treasury Yield Curve Rate T Note 1 Year Constant Maturity Treasury + 2.250%)
08/01/20352
|
3
|
|
|
48,983
|
|
Federal Home Loan Mortgage Corp. REMICS6
|
|
3,655
|
Series 4628 Cl. CI
3.000%—05/15/2035
|
310
|
4,039
|
Series 4118
4.000%—10/15/2042
|
654
|
1,218
|
Series 4989 Cl. FA
5.248% (30 day USD SOFR Average + 0.464%)
08/15/20402
|
1,210
|
⬤
17
Harbor Core Plus Fund
PORTFOLIO OF INVESTMENTS—Continued
Principal Amounts, Value and Cost in Thousands
Mortgage Pass-Through—Continued
|
||
Principal
Amount
|
|
Value
|
$1,176
|
Series 4989 Cl. FB
5.401% (30 day USD SOFR Average + 0.464%)
10/15/20402
|
$1,166
|
—
|
Series 2266 Cl. F
5.911% (30 day USD SOFR Average + 0.564%)
11/15/20302
|
—
|
|
|
3,340
|
6,517
|
Federal Home Loan Mortgage Corp. STRIPS
Series 304 Cl. C45
3.000%—12/15/2027
|
235
|
|
Federal Home Loan Mortgage Corp. Structured
Pass-Through Certificates
|
|
9
|
Series E3 Cl. A
4.629%—08/15/20322
|
9
|
41
|
Series T-63 Cl. 1A1
6.258% (Fed 12 Month Treasury Average Constant
Maturity Treasury + 1.200%) 02/25/20452
|
38
|
|
|
47
|
|
Federal National Mortgage Association
|
|
3,717
|
2.000%—02/01/2051 |
3,013
|
34,866
|
2.500%—04/01/2035-04/01/2052 |
30,490
|
31,198
|
3.000%—11/01/2025-12/01/2050 |
28,013
|
19,409
|
3.500%—12/01/2025-01/01/2051 |
18,001
|
37,674
|
4.000%—02/01/2024-07/01/2051 |
36,305
|
26,500
|
4.500%—03/01/2024-12/01/2050 |
26,106
|
3,991
|
5.000%—10/01/2031-08/01/2053 |
3,994
|
9,154
|
5.500%—01/01/2025-09/01/2041 |
9,417
|
179
|
5.729% (Fed 12 Month Treasury Average Constant Maturity Treasury + 1.715%) 06/01/20352
|
184
|
14
|
5.835% (USD IBOR Consumer Cash Fallback 12-month + 1.710%) 05/01/20352
|
14
|
238
|
5.943% (USD IBOR Consumer Cash Fallback 12-month + 1.693%) 08/01/20352
|
237
|
2,933
|
6.000%—06/01/2027-06/01/2040 |
3,041
|
52
|
6.412% (U.S. Treasury Yield Curve Rate T Note 1 Year Constant Maturity Treasury + 1.400%)
10/01/20402
|
52
|
|
|
158,867
|
5,117
|
Federal National Mortgage Association Interest
STRIPS
Series 407 Cl. 7
5.000%—03/25/2041
|
1,102
|
|
Federal National Mortgage Association REMICS6
|
|
9,014
|
Series 2017-70 Cl. AS
0.000%—09/25/20572,5
|
348
|
4,608
|
Series 2011-98 Cl. ZL
3.500%—10/25/2041
|
4,286
|
2,742
|
Series 2016-102 Cl. JI
3.500%—02/25/2046
|
158
|
7,138
|
Series 2020-27 Cl. IM
3.500%—05/25/2035
|
629
|
6,542
|
Series 2020-44 Cl. AI
4.000%—07/25/2050
|
1,296
|
172
|
Series 2003-25 Cl. KP
5.000%—04/25/2033
|
170
|
2,418
|
Series 2015-30 Cl. EI
5.000%—05/25/2045
|
376
|
1,626
|
Series 2016-33 Cl. NI
5.000%—07/25/2034
|
258
|
19
|
Series 2006-5 Cl. 3A2
5.242%—05/25/20352
|
20
|
Mortgage Pass-Through—Continued
|
||
Principal
Amount
|
|
Value
|
$1,415
|
Series 2015-38 Cl. DF
5.755% (30 day USD SOFR Average + 0.424%)
06/25/20552
|
$1,395
|
1,985
|
Series 2011-59 Cl. YI
6.000%—07/25/2041
|
317
|
|
|
9,253
|
86
|
Federal National Mortgage Association REMICS
Trust6
Series 2003-W1 Cl. 1A1
4.784%—12/25/20422
|
82
|
|
Government National Mortgage Association
|
|
21
|
2.750% (USD IBOR Consumer Cash Fallback 12-month + 1.500%)—12/20/2026-11/20/20292
|
21
|
4
|
2.750% (U.S. Treasury Yield Curve Rate T Note 1 Year Constant Maturity Treasury + 1.500%)—
10/20/2025-11/20/20252
|
4
|
543
|
3.000%—11/15/2049 |
485
|
1
|
3.000% (U.S. Treasury Yield Curve Rate T Note 1 Year Constant Maturity Treasury + 1.500%)
10/20/20252
|
—
|
96
|
3.625% (U.S. Treasury Yield Curve Rate T Note 1 Year Constant Maturity + 1.500%)—
01/20/2025-02/20/20322
|
97
|
10
|
3.625% (USD IBOR Consumer Cash Fallback 12-month + 1.500%) 07/20/20272
|
10
|
2
|
4.000% (U.S. Treasury Yield Curve Rate T Note 1 Year Constant Maturity Treasury + 1.500%)—
07/20/2024-09/20/20242
|
2
|
4,027
|
4.000%—09/15/2049-03/15/2050 |
3,886
|
1,118
|
4.500%—02/20/2049 |
1,103
|
16,526
|
5.000%—08/15/2033-06/15/2050 |
16,799
|
|
|
22,407
|
|
Government National Mortgage Association
REMICS6
|
|
3,385
|
Series 2010-47 Cl. SK
1.149% (1 Month USD Term SOFR + 6.486%)
07/20/20372
|
153
|
3,271
|
Series 2007-41 Cl. SM
1.249% (1 Month USD Term SOFR + 6.586%)
07/20/20372
|
284
|
4,306
|
Series 2020-4 Cl. DI
4.000%—03/20/2041
|
610
|
4,127
|
Series 2014-2 Cl. IC
5.000%—01/16/2044
|
774
|
579
|
Series 2015-180 Cl. CI
5.000%—12/16/2045
|
93
|
691
|
Series 2017-163 Cl. IE
5.500%—02/20/2039
|
125
|
314
|
Series 2016-136 Cl. IA
6.000%—10/20/2038
|
41
|
|
|
2,080
|
Total Mortgage Pass-Through
(Cost $268,142)
|
246,396
|
U.S. Government Obligations—21.2%
|
||
|
|
|
|
U.S. Treasury Bonds
|
|
63,321
|
1.750%—08/15/2041 |
43,487
|
29,777
|
2.000%—08/15/2051 |
18,822
|
9,447
|
2.250%—02/15/2052 |
6,344
|
7,730
|
2.375%—02/15/2042 |
5,852
|
7,428
|
3.000%—08/15/2052 |
5,893
|
⬤
18
Harbor Core Plus Fund
PORTFOLIO OF INVESTMENTS—Continued
Principal Amounts, Value and Cost in Thousands
U.S. Government Obligations—Continued
|
||
Principal
Amount
|
|
Value
|
$19,242
|
3.375%—08/15/2042 |
$16,947
|
16,561
|
3.625%—05/15/2053 |
14,886
|
14,923
|
3.875%—05/15/2043 |
14,045
|
8,726
|
4.125%—08/15/2053 |
8,583
|
4,697
|
4.375%—08/15/2043 |
4,732
|
|
|
139,591
|
|
U.S. Treasury Notes
|
|
7,551
|
2.750%—08/15/2032 |
6,900
|
6,389
|
3.375%—05/15/2033 |
6,108
|
39,198
|
3.875%—08/15/2033 |
38,971
|
16,133
|
4.375%—08/31/2028-11/30/2028
|
16,480
|
|
|
68,459
|
Total U.S. Government Obligations
(Cost $236,695)
|
208,050
|
|
TOTAL INVESTMENTS—98.7%
(Cost $1,047,203)
|
970,700
|
|
CASH AND OTHER ASSETS, LESS LIABILITIES—1.3%
|
12,985
|
|
TOTAL NET ASSETS—100.0%
|
$983,685
|
FAIR VALUE MEASUREMENTS
All investments as of January 31, 2024 (as disclosed in the preceding Portfolio of Investments) were classified as Level 2.
For more information on valuation inputs and their aggregation into the levels identified above, please refer to the Fair
Value Measurements and Disclosures in Note 2 of the accompanying Notes to Portfolios of Investments.
1
Securities purchased in a transaction exempt from registration under Rule 144A of the Securities Act of 1933. These securities
may be resold in transactions exempt from registration, normally to qualified institutional buyers. The Fund has no right to demand
registration of these securities. As of January 31, 2024, the aggregate value of these securities was $251,111 or 26% of net assets.
2
Variable or floating rate security; the stated rate represents the rate in effect as of January 31, 2024. The variable rate
for such securities may be based on the indicated reference rate and spread or on an underlying asset or pool of assets rather than a reference
rate and may be determined by current interest rates, prepayments or other financial indicators.
3
Step coupon security; the stated rate represents the rate in effect as of January 31, 2024.
4
Rate changes from fixed to variable rate at a specified date prior to its final maturity. Stated rate is fixed rate currently
in effect and stated date is the final maturity date.
5
Zero coupon bond
6
REMICs are collateralized mortgage obligations which can hold mortgages secured by any type of real property and issue multiple-class
securities backed by those mortgages.
CLO
Collateralized Loan Obligation
MTN
Medium Term Loan
The accompanying notes are an integral part of the Portfolios of Investments.
⬤
19
Harbor Disruptive Innovation Fund
PORTFOLIO OF INVESTMENTS—January 31, 2024 (Unaudited)
Value and Cost in Thousands
COMMON STOCKS—97.0%
|
||
Shares
|
|
Value
|
AUTOMOBILES—0.6%
|
||
2,525
|
Tesla, Inc. *
|
$473
|
BIOTECHNOLOGY—11.7%
|
||
3,529
|
89bio, Inc. *
|
35
|
100,142
|
Adaptimmune Therapeutics PLC ADR*,1
|
96
|
6,748
|
Alkermes PLC *
|
182
|
51,149
|
Allogene Therapeutics, Inc. *
|
180
|
15,227
|
Arrowhead Pharmaceuticals, Inc. *
|
489
|
8,574
|
Ascendis Pharma AS ADR (Denmark)*,1
|
1,114
|
150,589
|
Autolus Therapeutics PLC ADR (United Kingdom)*,1
|
907
|
22,056
|
Avidity Biosciences, Inc. *
|
270
|
18,749
|
Bicycle Therapeutics PLC ADR (United Kingdom)*,1
|
327
|
54,762
|
C4 Therapeutics, Inc. *
|
338
|
10,659
|
Fate Therapeutics, Inc. *
|
66
|
13,292
|
Freeline Therapeutics Holdings PLC ADR (United Kingdom)*,1
|
86
|
9,637
|
Intellia Therapeutics, Inc. *
|
230
|
49,186
|
Iovance Biotherapeutics, Inc. *
|
380
|
4,267
|
Krystal Biotech, Inc. *
|
475
|
11,215
|
Kymera Therapeutics, Inc. *
|
368
|
4,442
|
Legend Biotech Corp. ADR*,1
|
245
|
143,270
|
Magenta Therapeutics, Inc. - CVR *
|
—
x
|
7,001
|
Moderna, Inc. *
|
707
|
539
|
Mural Oncology PLC *
|
2
|
102,443
|
Precision BioSciences, Inc. *
|
39
|
23,557
|
REGENXBIO, Inc. *
|
290
|
32,173
|
Repare Therapeutics, Inc. (Canada)*
|
210
|
23,497
|
Replimune Group, Inc. *
|
182
|
38,849
|
Rocket Pharmaceuticals, Inc. *
|
1,116
|
20,901
|
Synlogic, Inc. *
|
72
|
19,013
|
uniQure NV (Netherlands)*
|
106
|
|
|
8,512
|
BROADLINE RETAIL—5.7%
|
||
12,171
|
Amazon.com, Inc. *
|
1,889
|
1,311
|
MercadoLibre, Inc. (Brazil)*
|
2,244
|
|
|
4,133
|
CHEMICALS—2.3%
|
||
4,176
|
Linde PLC
|
1,691
|
CONSUMER STAPLES DISTRIBUTION & RETAIL—0.5%
|
||
187,397
|
Dada Nexus Ltd. ADR (China)*,1
|
354
|
ELECTRICAL EQUIPMENT—0.3%
|
||
662
|
Hubbell, Inc.
|
222
|
ELECTRONIC EQUIPMENT, INSTRUMENTS & COMPONENTS—0.8%
|
||
16,634
|
Cognex Corp.
|
601
|
ENTERTAINMENT—0.2%
|
||
3,532
|
Sea Ltd. ADR (Singapore)*,1
|
135
|
FINANCIAL SERVICES—6.9%
|
||
1,008
|
Adyen NV (Netherlands)*,2
|
1,264
|
23,046
|
Block, Inc. *
|
1,498
|
11,268
|
Fiserv, Inc. *
|
1,599
|
36,936
|
Toast, Inc. Class A*
|
656
|
|
|
5,017
|
HEALTH CARE EQUIPMENT & SUPPLIES—3.3%
|
||
687
|
Cooper Cos., Inc.
|
256
|
9,875
|
Dexcom, Inc. *
|
1,199
|
540
|
IDEXX Laboratories, Inc. *
|
278
|
1,432
|
Inspire Medical Systems, Inc. *
|
302
|
1,179
|
Insulet Corp. *
|
225
|
2,657
|
Lantheus Holdings, Inc. *
|
138
|
|
|
2,398
|
COMMON STOCKS—Continued
|
||
Shares
|
|
Value
|
HEALTH CARE PROVIDERS & SERVICES—0.1%
|
||
162,855
|
Invitae Corp. *
|
$63
|
HOTELS, RESTAURANTS & LEISURE—4.2%
|
||
374
|
Chipotle Mexican Grill, Inc. *
|
901
|
582,211
|
Deliveroo PLC (United Kingdom)*,2
|
864
|
10,299
|
DoorDash, Inc. Class A*
|
1,073
|
6,213
|
DraftKings, Inc. Class A*
|
243
|
|
|
3,081
|
INSURANCE—2.4%
|
||
9,719
|
Progressive Corp.
|
1,732
|
INTERACTIVE MEDIA & SERVICES—2.6%
|
||
8,344
|
Alphabet, Inc. Class A*
|
1,169
|
1,963
|
Meta Platforms, Inc. Class A*
|
766
|
|
|
1,935
|
IT SERVICES—6.1%
|
||
13,854
|
Cloudflare, Inc. Class A*
|
1,095
|
1,181
|
MongoDB, Inc. *
|
473
|
2,583
|
Okta, Inc. *
|
214
|
23,533
|
Shopify, Inc. Class A (Canada)*
|
1,884
|
4,133
|
Snowflake, Inc. Class A*
|
809
|
|
|
4,475
|
LIFE SCIENCES TOOLS & SERVICES—4.4%
|
||
7,533
|
Danaher Corp.
|
1,807
|
1,703
|
ICON PLC *
|
444
|
905
|
Lonza Group AG (Switzerland)
|
443
|
907
|
Thermo Fisher Scientific, Inc.
|
489
|
|
|
3,183
|
MACHINERY—0.7%
|
||
4,675
|
Chart Industries, Inc. *
|
546
|
PHARMACEUTICALS—1.8%
|
||
12,673
|
Arvinas, Inc. *
|
526
|
7,421
|
Catalent, Inc. *
|
383
|
642
|
Eli Lilly & Co.
|
415
|
|
|
1,324
|
SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT—15.5%
|
||
16,539
|
Advanced Micro Devices, Inc. *
|
2,773
|
4,039
|
Applied Materials, Inc.
|
664
|
2,276
|
ASML Holding NV (Netherlands)
|
1,975
|
2,875
|
Lam Research Corp.
|
2,372
|
9,304
|
Lattice Semiconductor Corp. *
|
566
|
4,704
|
Microchip Technology, Inc.
|
401
|
1,928
|
NVIDIA Corp.
|
1,186
|
8,618
|
Texas Instruments, Inc.
|
1,380
|
|
|
11,317
|
SOFTWARE—24.8%
|
||
300,301
|
Agora, Inc. ADR (China)*,1
|
841
|
1,944
|
Atlassian Corp. Class A*
|
485
|
6,903
|
Bentley Systems, Inc. Class B
|
348
|
6,468
|
Cadence Design Systems, Inc. *
|
1,866
|
21,353
|
CCC Intelligent Solutions Holdings, Inc. *
|
235
|
5,451
|
Datadog, Inc. Class A*
|
678
|
6,062
|
DoubleVerify Holdings, Inc. *
|
242
|
6,499
|
Dynatrace, Inc. *
|
370
|
1,340
|
HubSpot, Inc. *
|
819
|
8,989
|
Microsoft Corp.
|
3,574
|
1,194
|
Monday.com Ltd. *
|
251
|
1,160
|
Nice Ltd. ADR (Israel)*,1
|
241
|
2,133
|
Palo Alto Networks, Inc. *
|
722
|
14,384
|
Procore Technologies, Inc. *
|
1,027
|
⬤
20
Harbor Disruptive Innovation Fund
PORTFOLIO OF INVESTMENTS—Continued
Value and Cost in Thousands
COMMON STOCKS—Continued
|
||
Shares
|
|
Value
|
SOFTWARE—Continued
|
||
4,120
|
Salesforce, Inc. *
|
$1,158
|
36,403
|
Samsara, Inc. Class A*
|
1,143
|
2,652
|
ServiceNow, Inc. *
|
2,030
|
13,952
|
Smartsheet, Inc. Class A*
|
627
|
1,615
|
Splunk, Inc. *
|
248
|
2,407
|
Workday, Inc. Class A*
|
701
|
2,177
|
Zscaler, Inc. *
|
513
|
|
|
18,119
|
SPECIALTY RETAIL—0.0%
|
||
375,682
|
Farfetch Ltd. Class A (United Kingdom)*
|
11
|
COMMON STOCKS—Continued
|
||
Shares
|
|
Value
|
TRADING COMPANIES & DISTRIBUTORS—2.1%
|
||
2,431
|
United Rentals, Inc.
|
$1,520
|
TOTAL COMMON STOCKS
(Cost $56,807)
|
70,842
|
|
TOTAL INVESTMENTS—97.0%
(Cost $56,807)
|
70,842
|
|
CASH AND OTHER ASSETS, LESS LIABILITIES—3.0%
|
2,156
|
|
TOTAL NET ASSETS—100%
|
$72,998
|
FAIR VALUE MEASUREMENTS
As of January 31, 2024, the investment in Magenta Therapeutics, Inc.- CVR (as disclosed in the preceding Portfolio of Investments)
was classified as Level 3, the investments in Adyen NV, ASML Holding NV, Deliveroo PLC, and Lonza Group AG (as disclosed in the preceding Portfolio of Investments)
were classified as Level 2 and all other investments were classified as Level 1.
For more information on valuation inputs and their aggregation into the levels identified above, please refer to the Fair
Value Measurements and Disclosures in Note 2 of the accompanying Notes to Portfolios of Investments.
The following is a rollforward of the Fund’s Level 3 investments during the period ended January 31, 2024. Transfers into or out of Level 3, if any, are recognized as of the last day in the fiscal quarter of the period in which the event or change in circumstances that caused the reclassification
occurred.
Valuation
Description
|
Beginning
Balance
as of 11/01/2023
(000s)
|
Purchases
(000s)
|
Sales
(000s)
|
Discount/
(Premium)
(000s)
|
Total
Realized
Gain/(Loss)
(000s)
|
Change in
Unrealized
Appreciation/
(Depreciation)
(000s)
|
Transfers
Into
Level 3
(000s)
|
Transfers
Out of
Level 3
(000s)
|
Ending
Balance
as of
01/31/2024
(000s)
|
Unrealized
Gain/(Loss)
as of
01/31/2024
(000s)
|
Common Stock
|
$—
|
$—
|
$—
|
$—
|
$—
|
$—
|
$—
|
$—
|
$—
|
$—
|
The following is a summary of significant unobservable inputs used in the fair valuations of assets and liabilities categorized
within Level 3 of the fair value hierarchy.
Valuation Descriptions
|
Ending Balance
as of 01/31/24
(000s)
|
Valuation
Technique
|
Unobservable
Input(s)
|
Input
Value(s)
|
Investments in Securities
|
|
|
|
|
Common Stocks
|
|
|
|
|
Magenta Therapeutics, Inc. - CVR*
|
$—
|
Market Approach
|
Estimated Recovery Value
|
USD
0.00
|
*
Non-income producing security
x
Fair valued in accordance with Harbor funds' valuation procedures.
1
Depositary receipts such as American Depositary Receipts (ADRs), Global Depositary Receipts (GDRs) and other country specific
depositary receipts are certificates evidencing ownership of shares of a foreign issuer. These certificates are issued by depositary
banks and generally trade on an established market in the U.S. or elsewhere.
2
Securities purchased in a transaction exempt from registration under Rule 144A of the Securities Act of 1933. These securities
may be resold in transactions exempt from registration, normally to qualified institutional buyers. The Fund has no right to demand registration
of these securities. As of January 31, 2024, the aggregate value of these securities was $2,128 or 3% of net assets.
The accompanying notes are an integral part of the Portfolios of Investments.
⬤
21
Harbor Diversified International All Cap Fund
PORTFOLIO OF INVESTMENTS—January 31, 2024 (Unaudited)
Value and Cost in Thousands
COMMON STOCKS—97.9%
|
||
Shares
|
|
Value
|
AEROSPACE & DEFENSE—1.3%
|
||
400,536
|
BAE Systems PLC (United Kingdom)
|
$5,967
|
1,735,120
|
Rolls-Royce Holdings PLC (United Kingdom)*
|
6,587
|
|
|
12,554
|
AIR FREIGHT & LOGISTICS—0.1%
|
||
131,600
|
Senko Group Holdings Co. Ltd. (Japan)
|
1,029
|
AUTOMOBILE COMPONENTS—0.7%
|
||
88,500
|
Bridgestone Corp. (Japan)
|
3,835
|
170,449
|
Gestamp Automocion SA (Spain)1
|
566
|
307,449
|
Johnson Electric Holdings Ltd. (Hong Kong)
|
403
|
39,733
|
Magna International, Inc. (Canada)
|
2,258
|
|
|
7,062
|
AUTOMOBILES—0.5%
|
||
43,048
|
Bayerische Motoren Werke AG (Germany)
|
4,479
|
BANKS—11.3%
|
||
19,377,500
|
Bank Central Asia Tbk. PT (Indonesia)
|
11,724
|
484,467
|
Bank of Ireland Group PLC (Ireland)
|
4,455
|
83,881
|
Bank of Nova Scotia (Canada)
|
3,922
|
2,872,992
|
Barclays PLC (United Kingdom)
|
5,339
|
1,355,160
|
CaixaBank SA (Spain)
|
5,778
|
52,023
|
Capitec Bank Holdings Ltd. (South Africa)
|
5,541
|
112,241
|
Close Brothers Group PLC (United Kingdom)
|
771
|
197,047
|
DBS Group Holdings Ltd. (Singapore)
|
4,667
|
298,584
|
DNB Bank ASA (Norway)
|
5,804
|
67,100
|
Fukuoka Financial Group, Inc. (Japan)
|
1,649
|
917,400
|
Grupo Financiero Banorte SAB de CV Class O (Mexico)
|
9,328
|
200,687
|
HDFC Bank Ltd. ADR (India)2
|
11,136
|
213,962
|
HSBC Holdings PLC (Hong Kong)
|
1,673
|
5,210,545
|
Lloyds Banking Group PLC (United Kingdom)
|
2,793
|
1,068,700
|
Resona Holdings, Inc. (Japan)
|
5,900
|
199,171
|
Shinhan Financial Group Co. Ltd. (South Korea)
|
6,103
|
539,945
|
Standard Chartered PLC (United Kingdom)
|
4,081
|
268,800
|
Sumitomo Mitsui Trust Holdings, Inc. (Japan)
|
5,509
|
317,731
|
Svenska Handelsbanken AB Class A (Sweden)3
|
3,425
|
264,595
|
UniCredit SpA (Italy)
|
7,751
|
|
|
107,349
|
BEVERAGES—3.8%
|
||
657,900
|
Arca Continental SAB de CV (Mexico)
|
7,480
|
49,100
|
Asahi Group Holdings Ltd. (Japan)
|
1,825
|
51,831
|
Carlsberg AS Class B (Denmark)
|
6,669
|
31,491
|
Coca-Cola Europacific Partners PLC (United States)
|
2,170
|
395,430
|
Davide Campari-Milano NV (Italy)
|
4,006
|
219,025
|
Diageo PLC (United Kingdom)
|
7,911
|
421,200
|
Kirin Holdings Co. Ltd. (Japan)
|
6,054
|
|
|
36,115
|
BIOTECHNOLOGY—0.6%
|
||
26,792
|
CSL Ltd. (Australia)
|
5,261
|
BROADLINE RETAIL—1.0%
|
||
28,602
|
Naspers Ltd. Class N (South Africa)
|
4,797
|
311,535
|
Vipshop Holdings Ltd. ADR (China)*,2
|
4,951
|
|
|
9,748
|
BUILDING PRODUCTS—1.3%
|
||
207,017
|
Assa Abloy AB Class B (Sweden)
|
5,677
|
328,304
|
Fletcher Building Ltd. (New Zealand)
|
905
|
10,183
|
Geberit AG (Switzerland)
|
5,862
|
|
|
12,444
|
CAPITAL MARKETS—3.5%
|
||
402,291
|
3i Group PLC (United Kingdom)
|
12,594
|
2,760,900
|
B3 SA - Brasil Bolsa Balcao (Brazil)
|
7,295
|
COMMON STOCKS—Continued
|
||
Shares
|
|
Value
|
CAPITAL MARKETS—Continued
|
||
37,583
|
Brookfield Asset Management Ltd. Class A (Canada)
|
$1,511
|
150,827
|
Brookfield Corp. (Canada)
|
5,986
|
64,377
|
IG Group Holdings PLC (United Kingdom)
|
579
|
408,074
|
Jupiter Fund Management PLC (United Kingdom)
|
408
|
702,400
|
Nomura Holdings, Inc. (Japan)
|
3,783
|
56,282
|
Rathbones Group PLC (United Kingdom)
|
1,177
|
|
|
33,333
|
CHEMICALS—0.6%
|
||
183,200
|
Air Water, Inc. (Japan)
|
2,420
|
44,200
|
Nissan Chemical Corp. (Japan)
|
1,763
|
27,400
|
Sumitomo Bakelite Co. Ltd. (Japan)
|
1,361
|
|
|
5,544
|
COMMERCIAL SERVICES & SUPPLIES—1.1%
|
||
31,112
|
Befesa SA (Germany)1
|
1,093
|
174,306
|
Brambles Ltd. (Australia)
|
1,662
|
647,846
|
Cleanaway Waste Management Ltd. (Australia)
|
1,097
|
54,800
|
Daiei Kankyo Co. Ltd. (Japan)
|
932
|
100,331
|
Elis SA (France)
|
2,206
|
11,300
|
Secom Co. Ltd. (Japan)
|
820
|
1,246,037
|
Serco Group PLC (United Kingdom)
|
2,719
|
|
|
10,529
|
CONSTRUCTION & ENGINEERING—1.3%
|
||
182,200
|
INFRONEER Holdings, Inc. (Japan)
|
1,905
|
345,600
|
Obayashi Corp. (Japan)
|
3,199
|
165,500
|
Penta-Ocean Construction Co. Ltd. (Japan)
|
887
|
127,184
|
SNC-Lavalin Group, Inc. (Canada)
|
4,218
|
47,755
|
Taisei Corp. (Japan)
|
1,741
|
|
|
11,950
|
CONSTRUCTION MATERIALS—1.5%
|
||
507,511
|
Cemex SAB de CV ADR (Mexico)*,2
|
4,202
|
43,860
|
Holcim AG (Switzerland)
|
3,350
|
134,100
|
Taiheiyo Cement Corp. (Japan)
|
2,760
|
127,958
|
Wienerberger AG (Austria)
|
4,337
|
|
|
14,649
|
CONSUMER FINANCE—0.2%
|
||
296,575
|
International Personal Finance PLC (United Kingdom)
|
452
|
97,300
|
Marui Group Co. Ltd. (Japan)
|
1,609
|
158,869
|
Vanquis Banking Group PLC (United Kingdom)
|
237
|
|
|
2,298
|
CONSUMER STAPLES DISTRIBUTION & RETAIL—2.5%
|
||
91,152
|
Alimentation Couche-Tard, Inc. (Canada)
|
5,341
|
263,787
|
Bid Corp. Ltd. (South Africa)
|
6,384
|
100,174
|
HelloFresh SE (Germany)*
|
1,325
|
133,611
|
Koninklijke Ahold Delhaize NV (Netherlands)
|
3,758
|
54,251
|
Loblaw Cos. Ltd. (Canada)
|
5,421
|
37,300
|
MatsukiyoCocokara & Co. (Japan)
|
678
|
18,300
|
Seven & i Holdings Co. Ltd. (Japan)
|
723
|
140,921
|
X5 Retail Group NV GDR (Russia)*,2
|
—
x
|
|
|
23,630
|
CONTAINERS & PACKAGING—0.4%
|
||
416,617
|
DS Smith PLC (United Kingdom)
|
1,485
|
129,300
|
Toyo Seikan Group Holdings Ltd. (Japan)
|
2,054
|
|
|
3,539
|
DISTRIBUTORS—0.1%
|
||
165,080
|
Inchcape PLC (United Kingdom)
|
1,421
|
DIVERSIFIED TELECOMMUNICATION SERVICES—1.5%
|
||
33,353
|
BCE, Inc. (Canada)
|
1,346
|
⬤
22
Harbor Diversified International All Cap Fund
PORTFOLIO OF INVESTMENTS—Continued
Value and Cost in Thousands
COMMON STOCKS—Continued
|
||
Shares
|
|
Value
|
DIVERSIFIED TELECOMMUNICATION SERVICES—Continued
|
||
1,236,856
|
Koninklijke KPN NV (Netherlands)
|
$4,208
|
6,906,900
|
Nippon Telegraph & Telephone Corp. (Japan)
|
8,673
|
|
|
14,227
|
ELECTRICAL EQUIPMENT—2.6%
|
||
225,301
|
Havells India Ltd. (India)
|
3,516
|
27,254
|
Legrand SA (France)
|
2,641
|
227,900
|
Mitsubishi Electric Corp. (Japan)
|
3,382
|
40,879
|
Schneider Electric SE (France)
|
8,031
|
265,375
|
Vestas Wind Systems AS (Denmark)*
|
7,482
|
|
|
25,052
|
ELECTRONIC EQUIPMENT, INSTRUMENTS & COMPONENTS—1.0%
|
||
515,315
|
Delta Electronics, Inc. (Taiwan)
|
4,611
|
88,500
|
Kyocera Corp. (Japan)
|
1,296
|
50,800
|
TDK Corp. (Japan)
|
2,527
|
56,200
|
Topcon Corp. (Japan)
|
646
|
|
|
9,080
|
ENERGY EQUIPMENT & SERVICES—0.3%
|
||
510,357
|
John Wood Group PLC (United Kingdom)*
|
1,012
|
108,163
|
Technip Energies NV (France)
|
2,239
|
|
|
3,251
|
FINANCIAL SERVICES—1.2%
|
||
525,818
|
Chailease Holding Co. Ltd. (Taiwan)
|
2,911
|
138,543
|
Edenred SE (France)
|
8,275
|
|
|
11,186
|
FOOD PRODUCTS—1.1%
|
||
822,000
|
First Pacific Co. Ltd. (Hong Kong)
|
312
|
562,850
|
Marico Ltd. (India)
|
3,587
|
52,300
|
Megmilk Snow Brand Co. Ltd. (Japan)
|
820
|
58,200
|
NH Foods Ltd. (Japan)
|
1,993
|
49,500
|
Toyo Suisan Kaisha Ltd. (Japan)
|
2,578
|
20,716
|
Viscofan SA (Spain)
|
1,213
|
|
|
10,503
|
GROUND TRANSPORTATION—1.2%
|
||
60,949
|
Canadian Pacific Kansas City Ltd. (Canada)
|
4,904
|
569,754
|
Localiza Rent a Car SA (Brazil)
|
6,224
|
|
|
11,128
|
HEALTH CARE EQUIPMENT & SUPPLIES—1.8%
|
||
47,708
|
Coloplast AS Class B (Denmark)
|
5,499
|
1,044,697
|
ConvaTec Group PLC (United Kingdom)1
|
3,179
|
99,374
|
Demant AS (Denmark)*
|
4,502
|
17,350
|
EssilorLuxottica SA (France)
|
3,400
|
45,100
|
Olympus Corp. (Japan)
|
668
|
|
|
17,248
|
HEALTH CARE PROVIDERS & SERVICES—0.7%
|
||
65,676
|
Amplifon SpA (Italy)
|
2,144
|
66,610
|
Fresenius Medical Care AG (Germany)
|
2,574
|
76,000
|
Medipal Holdings Corp. (Japan)
|
1,213
|
50,500
|
Ship Healthcare Holdings, Inc. (Japan)
|
766
|
|
|
6,697
|
HOTELS, RESTAURANTS & LEISURE—3.6%
|
||
70,086
|
Aristocrat Leisure Ltd. (Australia)
|
2,021
|
267,543
|
Compass Group PLC (United Kingdom)
|
7,369
|
15,289
|
Domino’s Pizza Enterprises Ltd. (Australia)
|
393
|
396,634
|
Entain PLC (United Kingdom)
|
4,831
|
43,792
|
Flutter Entertainment PLC (United Kingdom)*
|
8,989
|
385,000
|
Galaxy Entertainment Group Ltd. (Hong Kong)
|
1,998
|
36,838
|
InterContinental Hotels Group PLC (United Kingdom)
|
3,491
|
COMMON STOCKS—Continued
|
||
Shares
|
|
Value
|
HOTELS, RESTAURANTS & LEISURE—Continued
|
||
200,209
|
Playtech PLC (United Kingdom)*
|
$1,123
|
1,312,692
|
SSP Group PLC (United Kingdom)*
|
3,736
|
|
|
33,951
|
HOUSEHOLD DURABLES—1.3%
|
||
251,831
|
Barratt Developments PLC (United Kingdom)
|
1,716
|
46,190
|
GN Store Nord AS (Denmark)*
|
1,089
|
886,015
|
Midea Group Co. Ltd. Class A (China)
|
7,191
|
43,100
|
Sekisui Chemical Co. Ltd. (Japan)
|
616
|
18,600
|
Sony Group Corp. (Japan)
|
1,824
|
|
|
12,436
|
HOUSEHOLD PRODUCTS—0.6%
|
||
80,917
|
Reckitt Benckiser Group PLC (United Kingdom)
|
5,850
|
INDUSTRIAL CONGLOMERATES—1.4%
|
||
287,000
|
CK Hutchison Holdings Ltd. (Hong Kong)
|
1,483
|
50,180
|
DCC PLC (United Kingdom)
|
3,648
|
66,100
|
Hitachi Ltd. (Japan)
|
5,192
|
44,400
|
Jardine Matheson Holdings Ltd. (Hong Kong)
|
1,783
|
151,000
|
Nisshinbo Holdings, Inc. (Japan)
|
1,246
|
|
|
13,352
|
INSURANCE—5.8%
|
||
52,599
|
Admiral Group PLC (United Kingdom)
|
1,672
|
1,771,200
|
AIA Group Ltd. (Hong Kong)
|
13,890
|
168,100
|
Dai-ichi Life Holdings, Inc. (Japan)
|
3,687
|
10,093
|
Fairfax Financial Holdings Ltd. (Canada)
|
10,521
|
66,100
|
Great Eastern Holdings Ltd. (Singapore)
|
862
|
17,105
|
Hannover Rueck SE (Germany)
|
4,100
|
225,422
|
Hiscox Ltd. (United Kingdom)
|
2,959
|
182,600
|
Japan Post Holdings Co. Ltd. (Japan)
|
1,748
|
18,450
|
Prudential PLC (Hong Kong)
|
193
|
326,074
|
Prudential PLC (United Kingdom)
|
3,350
|
325,857
|
QBE Insurance Group Ltd. (Australia)
|
3,355
|
108,462
|
Sampo OYJ Class A (Finland)
|
4,540
|
173,700
|
Tokio Marine Holdings, Inc. (Japan)
|
4,580
|
|
|
55,457
|
INTERACTIVE MEDIA & SERVICES—1.1%
|
||
297,339
|
Auto Trader Group PLC (United Kingdom)1
|
2,736
|
36,866
|
Baidu, Inc. ADR (China)*,2
|
3,882
|
32,856
|
CAR Group Ltd. (Australia)
|
706
|
458,437
|
Rightmove PLC (United Kingdom)
|
3,244
|
|
|
10,568
|
IT SERVICES—2.5%
|
||
10,487
|
Alten SA (France)
|
1,621
|
290,896
|
Infosys Ltd. ADR (India)2
|
5,777
|
58,900
|
NEC Corp. (Japan)
|
3,849
|
86,700
|
NET One Systems Co. Ltd. (Japan)
|
1,410
|
35,400
|
NS Solutions Corp. (Japan)
|
1,181
|
98,200
|
SCSK Corp. (Japan)
|
1,928
|
180,478
|
Tata Consultancy Services Ltd. (India)
|
8,264
|
|
|
24,030
|
LEISURE PRODUCTS—0.5%
|
||
132,500
|
Sega Sammy Holdings, Inc. (Japan)
|
1,950
|
97,452
|
Spin Master Corp. (Canada)1
|
2,507
|
|
|
4,457
|
LIFE SCIENCES TOOLS & SERVICES—0.6%
|
||
52,774
|
Eurofins Scientific SE (France)
|
3,178
|
23,444
|
Gerresheimer AG (Germany)
|
2,390
|
|
|
5,568
|
⬤
23
Harbor Diversified International All Cap Fund
PORTFOLIO OF INVESTMENTS—Continued
Value and Cost in Thousands
COMMON STOCKS—Continued
|
||
Shares
|
|
Value
|
MACHINERY—4.8%
|
||
38,940
|
Alfa Laval AB (Sweden)
|
$1,429
|
45,153
|
ANDRITZ AG (Austria)
|
2,780
|
443,622
|
CNH Industrial NV (United States)
|
5,323
|
70,600
|
Daifuku Co. Ltd. (Japan)
|
1,392
|
159,145
|
Fluidra SA (Spain)
|
3,445
|
56,671
|
GEA Group AG (Germany)
|
2,270
|
34,600
|
Komatsu Ltd. (Japan)
|
984
|
63,300
|
Kubota Corp. (Japan)
|
958
|
87,800
|
Mitsubishi Heavy Industries Ltd. (Japan)
|
5,857
|
52,900
|
Miura Co. Ltd. (Japan)
|
967
|
109,900
|
NSK Ltd. (Japan)
|
599
|
486,249
|
Rotork PLC (United Kingdom)
|
1,917
|
139,412
|
Sandvik AB (Sweden)
|
2,930
|
1,752,400
|
Sany Heavy Industry Co. Ltd. Class A (China)
|
3,196
|
20,910
|
Stabilus SE (Germany)
|
1,465
|
565,500
|
Techtronic Industries Co. Ltd. (Hong Kong)
|
6,006
|
21,400
|
Toyota Industries Corp. (Japan)
|
1,810
|
120,767
|
Wartsila OYJ Abp (Finland)
|
1,782
|
|
|
45,110
|
MARINE TRANSPORTATION—0.1%
|
||
195,689
|
Irish Continental Group PLC (Ireland)
|
972
|
MEDIA—1.0%
|
||
175,300
|
Fuji Media Holdings, Inc. (Japan)
|
2,077
|
107,909
|
Future PLC (United Kingdom)
|
967
|
81,400
|
Hakuhodo DY Holdings, Inc. (Japan)
|
625
|
1,560,364
|
ITV PLC (United Kingdom)
|
1,182
|
133,720
|
Nippon Television Holdings, Inc. (Japan)
|
1,560
|
75,100
|
TBS Holdings, Inc. (Japan)
|
1,742
|
134,994
|
WPP PLC (United Kingdom)
|
1,305
|
|
|
9,458
|
METALS & MINING—4.8%
|
||
66,906
|
Acerinox SA (Spain)
|
706
|
369,762
|
African Rainbow Minerals Ltd. (South Africa)
|
3,653
|
164,423
|
ArcelorMittal SA (France)
|
4,528
|
237,724
|
Barrick Gold Corp. (Canada)
|
3,713
|
176,524
|
BHP Group Ltd. (Australia)
|
5,401
|
87,974
|
BlueScope Steel Ltd. (Australia)
|
1,343
|
32,900
|
Dowa Holdings Co. Ltd. (Japan)
|
1,147
|
569,442
|
Evolution Mining Ltd. (Australia)
|
1,193
|
207,352
|
First Quantum Minerals Ltd. (Canada)
|
1,882
|
33,286
|
Franco-Nevada Corp. (Canada)
|
3,601
|
1,464,391
|
Glencore PLC (United Kingdom)
|
7,748
|
20,775
|
Newmont Corp. CDI (Australia)2
|
713
|
206,544
|
Pilbara Minerals Ltd. (Australia)
|
471
|
320,373
|
Severstal PAO GDR (Russia)*,2
|
—
x
|
93,814
|
Southern Copper Corp. (Peru)
|
7,702
|
65,300
|
Sumitomo Metal Mining Co. Ltd. (Japan)
|
1,805
|
|
|
45,606
|
OIL, GAS & CONSUMABLE FUELS—3.8%
|
||
2,116,336
|
BP PLC (United Kingdom)
|
12,360
|
93,872
|
Canadian Natural Resources Ltd. (Canada)
|
6,008
|
117,563
|
Equinor ASA (Norway)
|
3,364
|
210,300
|
Inpex Corp. (Japan)
|
2,859
|
184,699
|
PrairieSky Royalty Ltd. (Canada)
|
3,047
|
335,684
|
PRIO SA (Brazil)
|
2,976
|
536,253
|
Santos Ltd. (Australia)
|
2,710
|
118,242
|
Woodside Energy Group Ltd. (Australia)
|
2,473
|
|
|
35,797
|
PAPER & FOREST PRODUCTS—0.4%
|
||
236,800
|
Oji Holdings Corp. (Japan)
|
926
|
47,821
|
Stella-Jones, Inc. (Canada)
|
2,829
|
|
|
3,755
|
COMMON STOCKS—Continued
|
||
Shares
|
|
Value
|
PASSENGER AIRLINES—1.4%
|
||
119,033
|
Air Canada (Canada)*
|
$1,613
|
60,311
|
Copa Holdings SA Class A (Panama)
|
5,794
|
464,881
|
easyJet PLC (United Kingdom)*
|
3,255
|
610,611
|
Qantas Airways Ltd. (Australia)*
|
2,201
|
|
|
12,863
|
PERSONAL CARE PRODUCTS—0.4%
|
||
517,390
|
Dabur India Ltd. (India)
|
3,365
|
284,709
|
L’Occitane International SA (Hong Kong)
|
909
|
|
|
4,274
|
PHARMACEUTICALS—2.6%
|
||
206,177
|
Novo Nordisk AS Class B (Denmark)
|
23,567
|
65,600
|
Tsumura & Co. (Japan)
|
1,187
|
|
|
24,754
|
PROFESSIONAL SERVICES—2.7%
|
||
147,126
|
ALS Ltd. (Australia)
|
1,209
|
1,485,365
|
Capita PLC (United Kingdom)*
|
357
|
66,938
|
Experian PLC (United Kingdom)
|
2,786
|
68,633
|
Hays PLC (United Kingdom)
|
85
|
88,749
|
Intertek Group PLC (United Kingdom)
|
5,037
|
93,307
|
IPH Ltd. (Australia)
|
415
|
463,006
|
Pagegroup PLC (United Kingdom)
|
2,690
|
600,700
|
Persol Holdings Co. Ltd. (Japan)
|
955
|
51,351
|
Randstad NV (Netherlands)
|
2,920
|
211,938
|
RELX PLC (United Kingdom)
|
8,748
|
65,924
|
RWS Holdings PLC (United Kingdom)
|
199
|
|
|
25,401
|
REAL ESTATE MANAGEMENT & DEVELOPMENT—0.7%
|
||
143,600
|
Daiwa House Industry Co. Ltd. (Japan)
|
4,440
|
226,500
|
Swire Pacific Ltd. Class A (Hong Kong)
|
1,753
|
|
|
6,193
|
SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT—4.5%
|
||
21,150
|
ASML Holding NV (Netherlands)
|
18,350
|
39,200
|
ASMPT Ltd. (Hong Kong)
|
378
|
139,000
|
MediaTek, Inc. (Taiwan)
|
4,289
|
225,100
|
Renesas Electronics Corp. (Japan)*
|
3,693
|
812,000
|
Taiwan Semiconductor Manufacturing Co. Ltd. (Taiwan)
|
16,255
|
|
|
42,965
|
SOFTWARE—1.1%
|
||
3,093
|
Constellation Software, Inc. (Canada)
|
8,549
|
9,439
|
Lumine Group, Inc. (Canada)*
|
220
|
17,800
|
Oracle Corp. (Japan)
|
1,403
|
|
|
10,172
|
SPECIALTY RETAIL—1.1%
|
||
73,000
|
ABC-Mart, Inc. (Japan)
|
1,265
|
967,200
|
Esprit Holdings Ltd. (Hong Kong)*
|
36
|
380,141
|
Pets at Home Group PLC (United Kingdom)
|
1,346
|
54,200
|
USS Co. Ltd. (Japan)
|
1,025
|
90,680
|
WH Smith PLC (United Kingdom)
|
1,386
|
1,769,000
|
Zhongsheng Group Holdings Ltd. (China)
|
2,986
|
126,600
|
ZOZO, Inc. (Japan)
|
2,772
|
|
|
10,816
|
TECHNOLOGY HARDWARE, STORAGE & PERIPHERALS—1.8%
|
||
624,529
|
Advantech Co. Ltd. (Taiwan)
|
6,732
|
181,949
|
Samsung Electronics Co. Ltd. (South Korea)
|
9,886
|
|
|
16,618
|
TEXTILES, APPAREL & LUXURY GOODS—2.5%
|
||
21,588
|
adidas AG (Germany)
|
4,075
|
⬤
24
Harbor Diversified International All Cap Fund
PORTFOLIO OF INVESTMENTS—Continued
Value and Cost in Thousands
COMMON STOCKS—Continued
|
||
Shares
|
|
Value
|
TEXTILES, APPAREL & LUXURY GOODS—Continued
|
||
54,506
|
Cie Financiere Richemont SA Class A (Switzerland)
|
$8,096
|
85,810
|
Gildan Activewear, Inc. (Canada)
|
2,834
|
996,000
|
Li Ning Co. Ltd. (China)
|
2,128
|
489,300
|
Samsonite International SA (Hong Kong)*,1
|
1,366
|
485,300
|
Shenzhou International Group Holdings Ltd. (China)
|
4,322
|
400,070
|
Stella International Holdings Ltd. (Hong Kong)
|
528
|
|
|
23,349
|
TRADING COMPANIES & DISTRIBUTORS—2.7%
|
||
517,600
|
BOC Aviation Ltd. (China)1
|
3,880
|
70,277
|
Brenntag SE (Germany)
|
6,213
|
153,426
|
Bunzl PLC (United Kingdom)
|
6,235
|
79,323
|
Finning International, Inc. (Canada)
|
2,296
|
60,500
|
ITOCHU Corp. (Japan)
|
2,746
|
67,424
|
Rexel SA (France)
|
1,796
|
76,984
|
Richelieu Hardware Ltd. (Canada)3
|
2,486
|
|
|
25,652
|
TRANSPORTATION INFRASTRUCTURE—0.7%
|
||
308,660
|
Grupo Aeroportuario del Pacifico SAB de CV Class B (Mexico)
|
4,806
|
48,000
|
Mitsubishi Logistics Corp. (Japan)
|
1,483
|
|
|
6,289
|
COMMON STOCKS—Continued
|
||
Shares
|
|
Value
|
WIRELESS TELECOMMUNICATION SERVICES—0.2%
|
||
24,900
|
KDDI Corp. (Japan)
|
$825
|
27,191
|
Rogers Communications, Inc. Class B (Canada)
|
1,270
|
|
|
2,095
|
TOTAL COMMON STOCKS
(Cost $799,216)
|
$929,114
|
PREFERRED STOCKS—0.3%
|
||
|
|
|
(Cost $3,067)
|
||
BEVERAGES—0.3%
|
||
1,218,390
|
Embotelladora Andina SA Class B (Chile)
|
3,104
|
TOTAL INVESTMENTS—98.2%
(Cost $802,283)
|
932,218
|
|
CASH AND OTHER ASSETS, LESS LIABILITIES—1.8%
|
16,719
|
|
TOTAL NET ASSETS—100%
|
$948,937
|
RIGHTS/WARRANTS
|
||||||
Description
|
Shares
|
Strike Price
|
Expiration Date
|
Cost
(000s)
|
Value
(000s)
|
|
Constellation Software, Inc. (Canada)*
|
3,982
|
CAD
|
0.00
|
03/31/2040
|
$—
|
$—x
|
Localiza Rent a Car SA (Brazil)*
|
2,067
|
BRL
|
45.35
|
02/05/2024
|
—
|
4
|
Total Rights/Warrants
|
$4
|
FAIR VALUE MEASUREMENTS
The following table summarizes the Fund’s investments as of January 31, 2024 based on the inputs used to value them.
Asset Category
|
Quoted Prices
Level 1
(000s)
|
Other Significant
Observable Inputs
Level 2
(000s)
|
Significant
Unobservable
Inputs
Level 3
(000s)
|
Total
(000s)
|
Investments in Securities
|
|
|
|
|
Common Stocks
|
|
|
|
|
Africa
|
$—
|
$20,375
|
$—
|
$20,375
|
Europe
|
—
|
401,384
|
—
|
401,384
|
Latin America
|
55,807
|
—
|
—
|
55,807
|
Middle East/Central Asia
|
16,913
|
34,721
|
—
|
51,634
|
North America
|
95,776
|
—
|
—
|
95,776
|
Pacific Basin
|
8,833
|
295,305
|
—
|
304,138
|
Preferred Stocks
|
|
|
|
|
Latin America
|
—
|
3,104
|
—
|
3,104
|
Total Investments in Securities
|
$177,329
|
$754,889
|
$—
|
$932,218
|
Financial Derivative Instruments - Assets
|
|
|
|
|
Rights/Warrants
|
$4
|
$—
|
$—
|
4
|
Total Investments
|
$177,333
|
$754,889
|
$—
|
$932,222
|
For more information on valuation inputs and their aggregation into the levels identified above, please refer to the Fair
Value Measurements and Disclosures in Note 2 of the accompanying Notes to Portfolios of Investments.
⬤
25
Harbor Diversified International All Cap Fund
PORTFOLIO OF INVESTMENTS—Continued
FAIR VALUE MEASUREMENTS—Continued
The following is a rollforward of the Fund’s Level 3 investments during the period ended January 31, 2024. Transfers into or out of Level 3, if any, are recognized as of the last day in the fiscal quarter of the period in which the event or change in circumstances that caused the reclassification
occurred.
Valuation
Description
|
Beginning
Balance
as of 11/01/2023
(000s)
|
Purchases
(000s)
|
Sales
(000s)
|
Discount/
(Premium)
(000s)
|
Total
Realized
Gain/(Loss)
(000s)
|
Change in
Unrealized
Appreciation/
(Depreciation)
(000s)
|
Transfers
Into
Level 3
(000s)
|
Transfers
Out of
Level 3
(000s)
|
Ending
Balance
as of
01/31/2024
(000s)
|
Unrealized
Gain/(Loss)
as of
01/31/2024
(000s)
|
Common Stock
|
$—
|
$—
|
$—
|
$—
|
$—
|
$—
|
$—
|
$—
|
$—
|
$(11,174)
|
Rights/Warrants
|
—
|
—
|
—
|
—
|
—
|
—
|
—
|
—
|
—
|
—
|
|
$—
|
$—
|
$—
|
$—
|
$—
|
$—
|
$—
|
$—
|
$—
|
$(11,174
)
|
The following is a summary of significant unobservable inputs used in the fair valuations of assets and liabilities categorized
within Level 3 of the fair value hierarchy.
Valuation Descriptions
|
Ending Balance
as of 01/31/24
(000s)
|
Valuation
Technique
|
Unobservable
Input(s)
|
Input
Value(s)
|
Investments in Securities
|
|
|
|
|
Common Stocks
|
|
|
|
|
Severstal PAO GDR (Russia)*
|
$—
|
Market Approach
|
Estimated Recovery Value
|
USD
0.00
|
X5 Retail Group NV GDR (Russia)*
|
—
|
Market Approach
|
Estimated Recovery Value
|
USD
0.00
|
|
$—
|
|
|
|
Financial Derivative Instruments
|
|
|
|
|
Rights/Warrants
|
|
|
|
|
Constellation Software, Inc. (Canada)*
|
$—
|
Market Approach
|
Estimated Recovery Value
|
CAD
0.00
|
*
Non-income producing security
x
Fair valued in accordance with Harbor funds' valuation procedures.
1
Securities purchased in a transaction exempt from registration under Rule 144A of the Securities Act of 1933. These securities
may be resold in transactions exempt from registration, normally to qualified institutional buyers. The Fund has no right to demand
registration of these securities. As of January 31, 2024, the aggregate value of these securities was $15,327 or 2% of net assets.
2
Depositary receipts such as American Depositary Receipts (ADRs), Global Depositary Receipts (GDRs) and other country specific
depositary receipts are certificates evidencing ownership of shares of a foreign issuer. These certificates are issued by depositary
banks and generally trade on an established market in the U.S. or elsewhere.
3
All or a portion of this security was out on loan as of January 31, 2024. The market value of securities on loan and non-cash
collateral were $5,207 and $5,497, respectively.
BRL
Brazilian Real
CAD
Canadian Dollar
The accompanying notes are an integral part of the Portfolios of Investments.
⬤
26
Harbor International Fund
PORTFOLIO OF INVESTMENTS—January 31, 2024 (Unaudited)
Value and Cost in Thousands
COMMON STOCKS—98.7%
|
||
Shares
|
|
Value
|
AEROSPACE & DEFENSE—2.0%
|
||
2,177,197
|
BAE Systems PLC (United Kingdom)
|
$32,432
|
9,430,538
|
Rolls-Royce Holdings PLC (United Kingdom)*
|
35,803
|
|
|
68,235
|
AIR FREIGHT & LOGISTICS—0.2%
|
||
703,500
|
Senko Group Holdings Co. Ltd. (Japan)
|
5,500
|
AUTOMOBILE COMPONENTS—0.8%
|
||
468,500
|
Bridgestone Corp. (Japan)
|
20,301
|
890,204
|
Gestamp Automocion SA (Spain)1
|
2,953
|
91,835
|
Hankook Tire & Technology Co. Ltd. (South Korea)*
|
3,515
|
862,007
|
Johnson Electric Holdings Ltd. (Hong Kong)
|
1,131
|
|
|
27,900
|
AUTOMOBILES—0.8%
|
||
234,107
|
Bayerische Motoren Werke AG (Germany)
|
24,360
|
10,784
|
Hyundai Motor Co. (South Korea)
|
1,568
|
|
|
25,928
|
BANKS—9.9%
|
||
104,504
|
Axis Bank Ltd. (India)
|
1,343
|
11,102,900
|
Bank Central Asia Tbk. PT (Indonesia)
|
6,717
|
2,619,195
|
Bank of Ireland Group PLC (Ireland)
|
24,086
|
15,608,456
|
Barclays PLC (United Kingdom)
|
29,006
|
7,366,405
|
CaixaBank SA (Spain)
|
31,410
|
29,808
|
Capitec Bank Holdings Ltd. (South Africa)
|
3,175
|
616,487
|
Close Brothers Group PLC (United Kingdom)
|
4,237
|
585,334
|
DBS Group Holdings Ltd. (Singapore)
|
13,864
|
1,597,283
|
DNB Bank ASA (Norway)
|
31,051
|
356,500
|
Fukuoka Financial Group, Inc. (Japan)
|
8,762
|
525,700
|
Grupo Financiero Banorte SAB de CV Class O (Mexico)
|
5,345
|
119,582
|
Hana Financial Group, Inc. (South Korea)
|
4,276
|
114,989
|
HDFC Bank Ltd. ADR (India)2
|
6,381
|
645,569
|
HSBC Holdings PLC (Hong Kong)
|
5,047
|
28,314,028
|
Lloyds Banking Group PLC (United Kingdom)
|
15,178
|
5,651,700
|
Resona Holdings, Inc. (Japan)
|
31,199
|
112,875
|
Shinhan Financial Group Co. Ltd. (South Korea)
|
3,458
|
2,377,869
|
Standard Chartered PLC (United Kingdom)
|
17,971
|
1,427,400
|
Sumitomo Mitsui Trust Holdings, Inc. (Japan)
|
29,252
|
1,726,582
|
Svenska Handelsbanken AB Class A (Sweden)
|
18,613
|
1,438,333
|
UniCredit SpA (Italy)
|
42,132
|
|
|
332,503
|
BEVERAGES—4.8%
|
||
372,900
|
Arca Continental SAB de CV (Mexico)
|
4,239
|
258,600
|
Asahi Group Holdings Ltd. (Japan)
|
9,612
|
277,282
|
Carlsberg AS Class B (Denmark)
|
35,677
|
171,158
|
Coca-Cola Europacific Partners PLC (United States)
|
11,793
|
2,115,903
|
Davide Campari-Milano NV (Italy)
|
21,437
|
1,190,574
|
Diageo PLC (United Kingdom)
|
43,001
|
2,216,100
|
Kirin Holdings Co. Ltd. (Japan)
|
31,854
|
6,929,500
|
Thai Beverage PCL (Singapore)
|
2,705
|
|
|
160,318
|
BIOTECHNOLOGY—0.5%
|
||
82,722
|
CSL Ltd. (Australia)
|
16,245
|
BROADLINE RETAIL—0.2%
|
||
16,209
|
Naspers Ltd. Class N (South Africa)
|
2,719
|
178,504
|
Vipshop Holdings Ltd. ADR (China)*,2
|
2,836
|
|
|
5,555
|
BUILDING PRODUCTS—1.9%
|
||
1,125,323
|
Assa Abloy AB Class B (Sweden)
|
30,863
|
969,109
|
Fletcher Building Ltd. (New Zealand)
|
2,671
|
COMMON STOCKS—Continued
|
||
Shares
|
|
Value
|
BUILDING PRODUCTS—Continued
|
||
55,745
|
Geberit AG (Switzerland)
|
$32,089
|
|
|
65,623
|
CAPITAL MARKETS—3.1%
|
||
2,152,089
|
3i Group PLC (United Kingdom)
|
67,371
|
1,581,900
|
B3 SA - Brasil Bolsa Balcao (Brazil)
|
4,180
|
354,024
|
IG Group Holdings PLC (United Kingdom)
|
3,181
|
2,248,357
|
Jupiter Fund Management PLC (United Kingdom)
|
2,251
|
3,675,400
|
Nomura Holdings, Inc. (Japan)
|
19,796
|
314,668
|
Rathbones Group PLC (United Kingdom)
|
6,582
|
|
|
103,361
|
CHEMICALS—0.9%
|
||
974,200
|
Air Water, Inc. (Japan)
|
12,868
|
234,500
|
Nissan Chemical Corp. (Japan)
|
9,353
|
145,000
|
Sumitomo Bakelite Co. Ltd. (Japan)
|
7,206
|
|
|
29,427
|
COMMERCIAL SERVICES & SUPPLIES—1.5%
|
||
166,388
|
Befesa SA (Germany)1
|
5,847
|
524,225
|
Brambles Ltd. (Australia)
|
4,998
|
1,829,786
|
Cleanaway Waste Management Ltd. (Australia)
|
3,098
|
293,000
|
Daiei Kankyo Co. Ltd. (Japan)
|
4,985
|
533,637
|
Elis SA (France)
|
11,733
|
59,600
|
Secom Co. Ltd. (Japan)
|
4,326
|
6,802,202
|
Serco Group PLC (United Kingdom)
|
14,843
|
|
|
49,830
|
CONSTRUCTION & ENGINEERING—1.2%
|
||
965,600
|
INFRONEER Holdings, Inc. (Japan)
|
10,094
|
1,827,400
|
Obayashi Corp. (Japan)
|
16,915
|
865,500
|
Penta-Ocean Construction Co. Ltd. (Japan)
|
4,637
|
249,974
|
Taisei Corp. (Japan)
|
9,114
|
|
|
40,760
|
CONSTRUCTION MATERIALS—1.7%
|
||
287,618
|
Cemex SAB de CV ADR (Mexico)*,2
|
2,382
|
238,418
|
Holcim AG (Switzerland)
|
18,210
|
711,200
|
Taiheiyo Cement Corp. (Japan)
|
14,638
|
665,589
|
Wienerberger AG (Austria)
|
22,555
|
|
|
57,785
|
CONSUMER FINANCE—0.4%
|
||
1,526,929
|
International Personal Finance PLC (United Kingdom)
|
2,326
|
515,700
|
Marui Group Co. Ltd. (Japan)
|
8,527
|
893,071
|
Vanquis Banking Group PLC (United Kingdom)
|
1,336
|
|
|
12,189
|
CONSUMER STAPLES DISTRIBUTION & RETAIL—1.1%
|
||
151,145
|
Bid Corp. Ltd. (South Africa)
|
3,658
|
544,627
|
HelloFresh SE (Germany)*
|
7,202
|
726,152
|
Koninklijke Ahold Delhaize NV (Netherlands)
|
20,422
|
199,300
|
MatsukiyoCocokara & Co. (Japan)
|
3,623
|
96,900
|
Seven & i Holdings Co. Ltd. (Japan)
|
3,827
|
95,013
|
X5 Retail Group NV GDR (Russia)*,2
|
—
x
|
|
|
38,732
|
CONTAINERS & PACKAGING—0.6%
|
||
2,263,852
|
DS Smith PLC (United Kingdom)
|
8,072
|
683,700
|
Toyo Seikan Group Holdings Ltd. (Japan)
|
10,860
|
|
|
18,932
|
DISTRIBUTORS—0.2%
|
||
897,040
|
Inchcape PLC (United Kingdom)
|
7,724
|
⬤
27
Harbor International Fund
PORTFOLIO OF INVESTMENTS—Continued
Value and Cost in Thousands
COMMON STOCKS—Continued
|
||
Shares
|
|
Value
|
DIVERSIFIED TELECOMMUNICATION SERVICES—2.0%
|
||
6,722,506
|
Koninklijke KPN NV (Netherlands)
|
$22,868
|
36,359,600
|
Nippon Telegraph & Telephone Corp. (Japan)
|
45,659
|
|
|
68,527
|
ELECTRICAL EQUIPMENT—3.5%
|
||
129,093
|
Havells India Ltd. (India)
|
2,015
|
148,163
|
Legrand SA (France)
|
14,359
|
1,198,500
|
Mitsubishi Electric Corp. (Japan)
|
17,786
|
222,337
|
Schneider Electric SE (France)
|
43,678
|
1,441,116
|
Vestas Wind Systems AS (Denmark)*
|
40,632
|
|
|
118,470
|
ELECTRONIC EQUIPMENT, INSTRUMENTS & COMPONENTS—0.8%
|
||
292,000
|
Delta Electronics, Inc. (Taiwan)
|
2,613
|
472,800
|
Kyocera Corp. (Japan)
|
6,922
|
269,500
|
TDK Corp. (Japan)
|
13,409
|
300,300
|
Topcon Corp. (Japan)
|
3,450
|
|
|
26,394
|
ENERGY EQUIPMENT & SERVICES—0.5%
|
||
2,805,485
|
John Wood Group PLC (United Kingdom)*
|
5,562
|
594,077
|
Technip Energies NV (France)
|
12,298
|
|
|
17,860
|
FINANCIAL SERVICES—1.4%
|
||
301,895
|
Chailease Holding Co. Ltd. (Taiwan)
|
1,671
|
738,710
|
Edenred SE (France)
|
44,122
|
|
|
45,793
|
FOOD PRODUCTS—1.1%
|
||
2,266,000
|
First Pacific Co. Ltd. (Hong Kong)
|
861
|
322,503
|
Marico Ltd. (India)
|
2,055
|
276,700
|
Megmilk Snow Brand Co. Ltd. (Japan)
|
4,340
|
304,800
|
NH Foods Ltd. (Japan)
|
10,438
|
261,600
|
Toyo Suisan Kaisha Ltd. (Japan)
|
13,622
|
112,440
|
Viscofan SA (Spain)
|
6,583
|
|
|
37,899
|
GROUND TRANSPORTATION—0.1%
|
||
326,505
|
Localiza Rent a Car SA (Brazil)
|
3,567
|
HEALTH CARE EQUIPMENT & SUPPLIES—2.8%
|
||
259,303
|
Coloplast AS Class B (Denmark)
|
29,890
|
5,693,268
|
ConvaTec Group PLC (United Kingdom)1
|
17,327
|
526,981
|
Demant AS (Denmark)*
|
23,872
|
94,198
|
EssilorLuxottica SA (France)
|
18,460
|
237,500
|
Olympus Corp. (Japan)
|
3,516
|
|
|
93,065
|
HEALTH CARE PROVIDERS & SERVICES—1.1%
|
||
356,872
|
Amplifon SpA (Italy)
|
11,648
|
362,061
|
Fresenius Medical Care AG (Germany)
|
13,993
|
397,700
|
Medipal Holdings Corp. (Japan)
|
6,348
|
266,200
|
Ship Healthcare Holdings, Inc. (Japan)
|
4,040
|
|
|
36,029
|
HOTELS, RESTAURANTS & LEISURE—5.2%
|
||
2,241,000
|
Ajisen China Holdings Ltd. (China)
|
274
|
208,582
|
Aristocrat Leisure Ltd. (Australia)
|
6,014
|
1,454,454
|
Compass Group PLC (United Kingdom)
|
40,061
|
42,068
|
Domino’s Pizza Enterprises Ltd. (Australia)
|
1,082
|
2,121,818
|
Entain PLC (United Kingdom)
|
25,845
|
237,298
|
Flutter Entertainment PLC (United Kingdom)*
|
48,707
|
1,122,000
|
Galaxy Entertainment Group Ltd. (Hong Kong)
|
5,823
|
197,116
|
InterContinental Hotels Group PLC (United Kingdom)
|
18,677
|
1,088,687
|
Playtech PLC (United Kingdom)*
|
6,109
|
COMMON STOCKS—Continued
|
||
Shares
|
|
Value
|
HOTELS, RESTAURANTS & LEISURE—Continued
|
||
7,139,822
|
SSP Group PLC (United Kingdom)*
|
$20,320
|
87,505
|
Yum China Holdings, Inc. (China)
|
3,027
|
|
|
175,939
|
HOUSEHOLD DURABLES—1.0%
|
||
1,369,380
|
Barratt Developments PLC (United Kingdom)
|
9,333
|
250,979
|
GN Store Nord AS (Denmark)*
|
5,919
|
502,100
|
Midea Group Co. Ltd. Class A (China)
|
4,075
|
230,400
|
Sekisui Chemical Co. Ltd. (Japan)
|
3,289
|
98,100
|
Sony Group Corp. (Japan)
|
9,620
|
|
|
32,236
|
HOUSEHOLD PRODUCTS—0.9%
|
||
439,961
|
Reckitt Benckiser Group PLC (United Kingdom)
|
31,810
|
INDUSTRIAL CONGLOMERATES—1.9%
|
||
882,500
|
CK Hutchison Holdings Ltd. (Hong Kong)
|
4,558
|
268,126
|
DCC PLC (United Kingdom)
|
19,492
|
349,600
|
Hitachi Ltd. (Japan)
|
27,461
|
128,000
|
Jardine Matheson Holdings Ltd. (Hong Kong)
|
5,140
|
798,700
|
Nisshinbo Holdings, Inc. (Japan)
|
6,592
|
|
|
63,243
|
INSURANCE—5.2%
|
||
285,895
|
Admiral Group PLC (United Kingdom)
|
9,091
|
2,478,200
|
AIA Group Ltd. (Hong Kong)
|
19,435
|
887,500
|
Dai-ichi Life Holdings, Inc. (Japan)
|
19,465
|
178,700
|
Great Eastern Holdings Ltd. (Singapore)
|
2,330
|
91,524
|
Hannover Rueck SE (Germany)
|
21,940
|
1,206,206
|
Hiscox Ltd. (United Kingdom)
|
15,831
|
976,300
|
Japan Post Holdings Co. Ltd. (Japan)
|
9,346
|
333,500
|
Ping An Insurance Group Co. of China Ltd. Class H (China)
|
1,402
|
49,300
|
Prudential PLC (Hong Kong)
|
515
|
1,587,873
|
Prudential PLC (United Kingdom)
|
16,311
|
992,261
|
QBE Insurance Group Ltd. (Australia)
|
10,217
|
589,391
|
Sampo OYJ Class A (Finland)
|
24,669
|
918,200
|
Tokio Marine Holdings, Inc. (Japan)
|
24,211
|
|
|
174,763
|
INTERACTIVE MEDIA & SERVICES—1.1%
|
||
1,615,670
|
Auto Trader Group PLC (United Kingdom)1
|
14,864
|
41,719
|
Baidu, Inc. ADR (China)*,2
|
4,393
|
88,444
|
CAR Group Ltd. (Australia)
|
1,899
|
2,491,050
|
Rightmove PLC (United Kingdom)
|
17,630
|
|
|
38,786
|
IT SERVICES—1.8%
|
||
57,014
|
Alten SA (France)
|
8,816
|
166,679
|
Infosys Ltd. ADR (India)2
|
3,310
|
311,700
|
NEC Corp. (Japan)
|
20,368
|
459,500
|
NET One Systems Co. Ltd. (Japan)
|
7,471
|
187,000
|
NS Solutions Corp. (Japan)
|
6,237
|
524,800
|
SCSK Corp. (Japan)
|
10,304
|
103,411
|
Tata Consultancy Services Ltd. (India)
|
4,735
|
|
|
61,241
|
LEISURE PRODUCTS—0.3%
|
||
694,000
|
Sega Sammy Holdings, Inc. (Japan)
|
10,214
|
LIFE SCIENCES TOOLS & SERVICES—0.9%
|
||
282,237
|
Eurofins Scientific SE (France)
|
16,995
|
125,444
|
Gerresheimer AG (Germany)
|
12,789
|
|
|
29,784
|
MACHINERY—6.0%
|
||
211,648
|
Alfa Laval AB (Sweden)
|
7,766
|
247,994
|
ANDRITZ AG (Austria)
|
15,267
|
⬤
28
Harbor International Fund
PORTFOLIO OF INVESTMENTS—Continued
Value and Cost in Thousands
COMMON STOCKS—Continued
|
||
Shares
|
|
Value
|
MACHINERY—Continued
|
||
2,437,651
|
CNH Industrial NV (United States)
|
$29,252
|
377,200
|
Daifuku Co. Ltd. (Japan)
|
7,438
|
897,071
|
Fluidra SA (Spain)
|
19,421
|
308,089
|
GEA Group AG (Germany)
|
12,339
|
185,000
|
Komatsu Ltd. (Japan)
|
5,263
|
336,300
|
Kubota Corp. (Japan)
|
5,091
|
460,200
|
Mitsubishi Heavy Industries Ltd. (Japan)
|
30,697
|
280,200
|
Miura Co. Ltd. (Japan)
|
5,120
|
587,800
|
NSK Ltd. (Japan)
|
3,205
|
2,643,976
|
Rotork PLC (United Kingdom)
|
10,423
|
757,602
|
Sandvik AB (Sweden)
|
15,922
|
1,004,100
|
Sany Heavy Industry Co. Ltd. Class A (China)
|
1,831
|
113,530
|
Stabilus SE (Germany)
|
7,955
|
602,000
|
Techtronic Industries Co. Ltd. (Hong Kong)
|
6,394
|
114,500
|
Toyota Industries Corp. (Japan)
|
9,684
|
656,192
|
Wartsila OYJ Abp (Finland)
|
9,680
|
|
|
202,748
|
MARINE TRANSPORTATION—0.2%
|
||
1,041,485
|
Irish Continental Group PLC (Ireland)
|
5,175
|
MEDIA—1.6%
|
||
930,100
|
Fuji Media Holdings, Inc. (Japan)
|
11,019
|
588,956
|
Future PLC (United Kingdom)
|
5,278
|
426,400
|
Hakuhodo DY Holdings, Inc. (Japan)
|
3,275
|
8,479,043
|
ITV PLC (United Kingdom)
|
6,423
|
141,034
|
JCDecaux SE (France)*
|
2,929
|
699,200
|
Nippon Television Holdings, Inc. (Japan)
|
8,157
|
393,000
|
TBS Holdings, Inc. (Japan)
|
9,113
|
734,096
|
WPP PLC (United Kingdom)
|
7,099
|
|
|
53,293
|
METALS & MINING—3.6%
|
||
363,511
|
Acerinox SA (Spain)
|
3,838
|
211,867
|
African Rainbow Minerals Ltd. (South Africa)
|
2,093
|
894,318
|
ArcelorMittal SA (France)
|
24,629
|
569,884
|
BHP Group Ltd. (Australia)
|
17,435
|
264,987
|
BlueScope Steel Ltd. (Australia)
|
4,046
|
173,900
|
Dowa Holdings Co. Ltd. (Japan)
|
6,065
|
1,696,666
|
Evolution Mining Ltd. (Australia)
|
3,554
|
118,809
|
First Quantum Minerals Ltd. (Canada)
|
1,078
|
7,960,215
|
Glencore PLC (United Kingdom)
|
42,117
|
59,438
|
Newmont Corp. CDI (Australia)2
|
2,040
|
618,095
|
Pilbara Minerals Ltd. (Australia)
|
1,408
|
217,215
|
Severstal PAO GDR (Russia)*,2
|
—
x
|
53,754
|
Southern Copper Corp. (Peru)
|
4,413
|
345,700
|
Sumitomo Metal Mining Co. Ltd. (Japan)
|
9,555
|
|
|
122,271
|
OIL, GAS & CONSUMABLE FUELS—3.5%
|
||
11,503,826
|
BP PLC (United Kingdom)
|
67,187
|
638,828
|
Equinor ASA (Norway)
|
18,281
|
1,100,100
|
Inpex Corp. (Japan)
|
14,953
|
192,341
|
PRIO SA (Brazil)
|
1,705
|
1,706,512
|
Santos Ltd. (Australia)
|
8,625
|
363,579
|
Woodside Energy Group Ltd. (Australia)
|
7,605
|
|
|
118,356
|
PAPER & FOREST PRODUCTS—0.1%
|
||
1,238,900
|
Oji Holdings Corp. (Japan)
|
4,844
|
PASSENGER AIRLINES—0.8%
|
||
34,557
|
Copa Holdings SA Class A (Panama)
|
3,320
|
2,486,784
|
easyJet PLC (United Kingdom)*
|
17,410
|
1,804,356
|
Qantas Airways Ltd. (Australia)*
|
6,505
|
|
|
27,235
|
COMMON STOCKS—Continued
|
||
Shares
|
|
Value
|
PERSONAL CARE PRODUCTS—0.1%
|
||
296,455
|
Dabur India Ltd. (India)
|
$1,928
|
855,000
|
L’Occitane International SA (Hong Kong)
|
2,730
|
|
|
4,658
|
PHARMACEUTICALS—4.0%
|
||
1,120,710
|
Novo Nordisk AS Class B (Denmark)
|
128,102
|
343,400
|
Tsumura & Co. (Japan)
|
6,213
|
|
|
134,315
|
PROFESSIONAL SERVICES—4.0%
|
||
454,425
|
ALS Ltd. (Australia)
|
3,734
|
8,068,001
|
Capita PLC (United Kingdom)*
|
1,940
|
363,729
|
Experian PLC (United Kingdom)
|
15,139
|
591,092
|
Hays PLC (United Kingdom)
|
735
|
482,430
|
Intertek Group PLC (United Kingdom)
|
27,383
|
277,797
|
IPH Ltd. (Australia)
|
1,236
|
2,403,636
|
Pagegroup PLC (United Kingdom)
|
13,963
|
3,211,700
|
Persol Holdings Co. Ltd. (Japan)
|
5,106
|
274,718
|
Randstad NV (Netherlands)
|
15,620
|
1,155,829
|
RELX PLC (United Kingdom)
|
47,706
|
343,836
|
RWS Holdings PLC (United Kingdom)
|
1,039
|
|
|
133,601
|
REAL ESTATE MANAGEMENT & DEVELOPMENT—0.9%
|
||
761,000
|
Daiwa House Industry Co. Ltd. (Japan)
|
23,532
|
691,500
|
Swire Pacific Ltd. Class A (Hong Kong)
|
5,350
|
|
|
28,882
|
SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT—3.0%
|
||
74,629
|
ASML Holding NV (Netherlands)
|
64,747
|
79,300
|
ASMPT Ltd. (Hong Kong)
|
765
|
79,000
|
MediaTek, Inc. (Taiwan)
|
2,438
|
1,191,000
|
Renesas Electronics Corp. (Japan)*
|
19,542
|
660,000
|
Taiwan Semiconductor Manufacturing Co. Ltd. (Taiwan)
|
13,212
|
|
|
100,704
|
SOFTWARE—0.2%
|
||
94,500
|
Oracle Corp. (Japan)
|
7,448
|
SPECIALTY RETAIL—1.3%
|
||
384,900
|
ABC-Mart, Inc. (Japan)
|
6,670
|
2,862,400
|
Esprit Holdings Ltd. (Hong Kong)*
|
105
|
2,034,089
|
Pets at Home Group PLC (United Kingdom)
|
7,204
|
286,400
|
USS Co. Ltd. (Japan)
|
5,416
|
484,961
|
WH Smith PLC (United Kingdom)
|
7,411
|
1,002,500
|
Zhongsheng Group Holdings Ltd. (China)
|
1,692
|
670,700
|
ZOZO, Inc. (Japan)
|
14,686
|
|
|
43,184
|
TECHNOLOGY HARDWARE, STORAGE & PERIPHERALS—0.5%
|
||
357,557
|
Advantech Co. Ltd. (Taiwan)
|
3,854
|
220,619
|
Samsung Electronics Co. Ltd. (South Korea)
|
11,988
|
|
|
15,842
|
TEXTILES, APPAREL & LUXURY GOODS—2.4%
|
||
117,359
|
adidas AG (Germany)
|
22,156
|
33,846
|
Cie Financiere Richemont SA Class A (South Africa)
|
5,079
|
296,209
|
Cie Financiere Richemont SA Class A (Switzerland)
|
43,997
|
561,500
|
Li Ning Co. Ltd. (China)
|
1,200
|
1,486,200
|
Samsonite International SA (Hong Kong)*,1
|
4,149
|
278,118
|
Shenzhou International Group Holdings Ltd. (China)
|
2,477
|
890,521
|
Stella International Holdings Ltd. (Hong Kong)
|
1,174
|
|
|
80,232
|
TRADING COMPANIES & DISTRIBUTORS—2.7%
|
||
296,600
|
BOC Aviation Ltd. (China)1
|
2,224
|
⬤
29
Harbor International Fund
PORTFOLIO OF INVESTMENTS—Continued
Value and Cost in Thousands
COMMON STOCKS—Continued
|
||
Shares
|
|
Value
|
TRADING COMPANIES & DISTRIBUTORS—Continued
|
||
375,961
|
Brenntag SE (Germany)
|
$33,239
|
774,424
|
Bunzl PLC (United Kingdom)
|
31,472
|
323,500
|
ITOCHU Corp. (Japan)
|
14,682
|
366,310
|
Rexel SA (France)
|
9,756
|
|
|
91,373
|
TRANSPORTATION INFRASTRUCTURE—0.3%
|
||
176,050
|
Grupo Aeroportuario del Pacifico SAB de CV Class B (Mexico)
|
2,741
|
253,600
|
Mitsubishi Logistics Corp. (Japan)
|
7,834
|
|
|
10,575
|
WIRELESS TELECOMMUNICATION SERVICES—0.1%
|
||
131,100
|
KDDI Corp. (Japan)
|
4,344
|
TOTAL COMMON STOCKS
(Cost $2,670,927)
|
3,321,247
|
PREFERRED STOCKS—0.1%
|
||
Shares
|
|
Value
|
(Cost $1,735)
|
||
BEVERAGES—0.1%
|
||
689,411
|
Embotelladora Andina SA Class B (Chile)
|
$1,756
|
TOTAL INVESTMENTS—98.8%
(Cost $2,672,662)
|
3,323,003
|
|
CASH AND OTHER ASSETS, LESS LIABILITIES—1.2%
|
40,615
|
|
TOTAL NET ASSETS—100%
|
$3,363,618
|
RIGHTS/WARRANTS
|
||||||
Description
|
Shares
|
Strike Price
|
Expiration Date
|
Cost
(000s)
|
Value
(000s)
|
|
Localiza Rent a Car SA (Brazil)*
|
1,171
|
BRL
|
45.35
|
02/05/2024
|
$—
|
$2
|
FAIR VALUE MEASUREMENTS
The following table summarizes the Fund’s investments as of January 31, 2024 based on the inputs used to value them.
Asset Category
|
Quoted Prices
Level 1
(000s)
|
Other Significant
Observable Inputs
Level 2
(000s)
|
Significant
Unobservable
Inputs
Level 3
(000s)
|
Total
(000s)
|
Investments in Securities
|
|
|
|
|
Common Stocks
|
|
|
|
|
Africa
|
$—
|
$16,724
|
$—
|
$16,724
|
Europe
|
—
|
2,133,203
|
—
|
2,133,203
|
Latin America
|
31,892
|
—
|
—
|
31,892
|
Middle East/Central Asia
|
9,691
|
36,881
|
—
|
46,572
|
North America
|
42,123
|
—
|
—
|
42,123
|
Pacific Basin
|
10,256
|
1,040,477
|
—
|
1,050,733
|
Preferred Stocks
|
|
|
|
|
Latin America
|
—
|
1,756
|
—
|
1,756
|
Total Investments in Securities
|
$93,962
|
$3,229,041
|
$—
|
$3,323,003
|
Financial Derivative Instruments - Assets
|
|
|
|
|
Rights/Warrants
|
$2
|
$—
|
$—
|
2
|
Total Investments
|
$93,964
|
$3,229,041
|
$—
|
$3,323,005
|
For more information on valuation inputs and their aggregation into the levels identified above, please refer to the Fair
Value Measurements and Disclosures in Note 2 of the accompanying Notes to Portfolios of Investments.
The following is a rollforward of the Fund’s Level 3 investments during the period ended January 31, 2024. Transfers into or out of Level 3, if any, are recognized as of the last day in the fiscal quarter of the period in which the event or change in circumstances that caused the reclassification
occurred.
Valuation
Description
|
Beginning
Balance
as of 11/01/2023
(000s)
|
Purchases
(000s)
|
Sales
(000s)
|
Discount/
(Premium)
(000s)
|
Total
Realized
Gain/(Loss)
(000s)
|
Change in
Unrealized
Appreciation/
(Depreciation)
(000s)
|
Transfers
Into
Level 3
(000s)
|
Transfers
Out of
Level 3
(000s)
|
Ending
Balance
as of
01/31/2024
(000s)
|
Unrealized
Gain/(Loss)
as of
01/31/2024
(000s)
|
Common Stock
|
$—
|
$—
|
$—
|
$—
|
$—
|
$—
|
$—
|
$—
|
$—
|
$(7,678)
|
⬤
30
Harbor International Fund
PORTFOLIO OF INVESTMENTS—Continued
FAIR VALUE MEASUREMENTS—Continued
The following is a summary of significant unobservable inputs used in the fair valuations of assets and liabilities categorized
within Level 3 of the fair value hierarchy.
Valuation Descriptions
|
Ending Balance
as of 01/31/24
(000s)
|
Valuation
Technique
|
Unobservable
Input(s)
|
Input
Value(s)
|
Investments in Securities
|
|
|
|
|
Common Stocks
|
|
|
|
|
Severstal PAO GDR (Russia)*
|
$—
|
Market Approach
|
Estimated Recovery Value
|
USD
0.00
|
X5 Retail Group NV GDR (Russia)*
|
—
|
Market Approach
|
Estimated Recovery Value
|
USD
0.00
|
|
$—
|
|
|
|
*
Non-income producing security
x
Fair valued in accordance with Harbor funds' valuation procedures.
1
Securities purchased in a transaction exempt from registration under Rule 144A of the Securities Act of 1933. These securities
may be resold in transactions exempt from registration, normally to qualified institutional buyers. The Fund has no right to demand
registration of these securities. As of January 31, 2024, the aggregate value of these securities was $47,364 or 1% of net assets.
2
Depositary receipts such as American Depositary Receipts (ADRs), Global Depositary Receipts (GDRs) and other country specific
depositary receipts are certificates evidencing ownership of shares of a foreign issuer. These certificates are issued by depositary
banks and generally trade on an established market in the U.S. or elsewhere.
BRL
Brazilian Real
The accompanying notes are an integral part of the Portfolios of Investments.
⬤
31
Harbor International Core Fund
PORTFOLIO OF INVESTMENTS—January 31, 2024 (Unaudited)
Value and Cost in Thousands
COMMON STOCKS—99.4%
|
||
Shares
|
|
Value
|
AEROSPACE & DEFENSE—1.4%
|
||
1,128
|
Dassault Aviation SA (France)
|
$214
|
115,028
|
Leonardo SpA (Italy)
|
2,008
|
2,713
|
MDA Ltd. (United States)*
|
22
|
12,645
|
QinetiQ Group PLC (United Kingdom)
|
57
|
60,835
|
Rolls-Royce Holdings PLC (United Kingdom)*
|
231
|
773
|
Safran SA (France)
|
144
|
|
|
2,676
|
AIR FREIGHT & LOGISTICS—0.0%
|
||
5,800
|
KRS Corp. (Japan)
|
37
|
AUTOMOBILE COMPONENTS—0.1%
|
||
3,546
|
Bulten AB (Sweden)
|
25
|
8,700
|
Ichikoh Industries Ltd. (Japan)
|
34
|
28,000
|
Johnson Electric Holdings Ltd. (Hong Kong)
|
37
|
8,986
|
Martinrea International, Inc. (Canada)
|
92
|
6,500
|
Thai Stanley Electric PCL NVDR (Thailand)1
|
38
|
|
|
226
|
AUTOMOBILES—3.3%
|
||
331,400
|
Nissan Motor Co. Ltd. (Japan)
|
1,301
|
168,686
|
Stellantis NV (United States)
|
3,716
|
59,400
|
Subaru Corp. (Japan)
|
1,185
|
8,000
|
Suzuki Motor Corp. (Japan)
|
359
|
|
|
6,561
|
BANKS—7.1%
|
||
1,291,000
|
Agricultural Bank of China Ltd. Class H (China)
|
500
|
5,700
|
Awa Bank Ltd. (Japan)
|
96
|
5,613
|
Banca Popolare di Sondrio SpA (Italy)
|
43
|
138,524
|
Banco Bilbao Vizcaya Argentaria SA (Spain)
|
1,296
|
223,400
|
Bangkok Bank PCL NVDR (Thailand)1
|
888
|
741,065
|
Bank Danamon Indonesia Tbk. PT (Indonesia)
|
133
|
18,538
|
Bank Polska Kasa Opieki SA (Poland)
|
713
|
35,782
|
Bankinter SA (Spain)
|
221
|
611,414
|
CaixaBank SA (Spain)
|
2,607
|
2,463,000
|
China Construction Bank Corp. Class H (China)
|
1,463
|
32,260
|
Commercial Bank of Dubai PSC (United Arab Emirates)
|
43
|
22,200
|
Concordia Financial Group Ltd. (Japan)
|
106
|
14,255
|
Danske Bank AS (Denmark)
|
383
|
4,300
|
Ehime Bank Ltd. (Japan)
|
31
|
25,502
|
Erste Group Bank AG (Austria)
|
1,099
|
53,361
|
Faisal Islamic Bank of Egypt (Egypt)
|
53
|
7,000
|
Hyakugo Bank Ltd. (Japan)
|
27
|
754
|
ING Bank Slaski SA (Poland)*
|
47
|
15,640
|
Komercni Banka AS (Czech Republic)
|
513
|
3,700
|
Musashino Bank Ltd. (Japan)
|
70
|
18,434
|
Powszechna Kasa Oszczednosci Bank Polski SA (Poland)
|
234
|
14,933
|
Raiffeisen Bank International AG (Austria)
|
311
|
2,241
|
Santander Bank Polska SA (Poland)
|
271
|
3,400
|
Shikoku Bank Ltd. (Japan)
|
23
|
160,894
|
Skandinaviska Enskilda Banken AB Class A (Sweden)
|
2,285
|
11,862
|
Standard Bank Group Ltd (South Africa)
|
126
|
1,633,800
|
TMBThanachart Bank PCL NVDR (Thailand)1
|
82
|
11,100
|
Towa Bank Ltd. (Japan)
|
48
|
10,200
|
UniCredit SpA (Italy)
|
299
|
|
|
14,011
|
BEVERAGES—0.1%
|
||
3,442
|
Coca-Cola HBC AG (Italy)
|
101
|
14,638
|
Ginebra San Miguel, Inc. (Philippines)
|
43
|
|
|
144
|
BIOTECHNOLOGY—0.3%
|
||
2,348
|
Genmab AS (Denmark)*
|
649
|
COMMON STOCKS—Continued
|
||
Shares
|
|
Value
|
BROADLINE RETAIL—0.5%
|
||
16,308
|
Max Stock Ltd. (Israel)
|
$33
|
9,500
|
Ryohin Keikaku Co. Ltd. (Japan)
|
148
|
54,816
|
Vipshop Holdings Ltd. ADR (China)*,1
|
871
|
|
|
1,052
|
BUILDING PRODUCTS—1.3%
|
||
300
|
BRC Asia Ltd. (Singapore)
|
—
|
31,743
|
Cie de Saint-Gobain SA (France)
|
2,244
|
5,400
|
Maezawa Kasei Industries Co. Ltd. (Japan)
|
58
|
1,300
|
Nichias Corp. (Japan)
|
30
|
4,400
|
Okabe Co. Ltd. (Japan)
|
24
|
615
|
ROCKWOOL AS Class B (Denmark)
|
168
|
1,900
|
Shin Nippon Air Technologies Co. Ltd. (Japan)
|
33
|
|
|
2,557
|
CAPITAL MARKETS—5.3%
|
||
35,988
|
3i Group PLC (United Kingdom)
|
1,126
|
318
|
Cie Financiere Tradition SA (Switzerland)
|
44
|
171,701
|
Deutsche Bank AG (Germany)
|
2,218
|
11,735
|
Deutsche Boerse AG (Germany)
|
2,337
|
2,082
|
Fiducian Group Ltd. (Australia)
|
8
|
2,256
|
Foresight Group Holdings Ltd. (United Kingdom)
|
13
|
6,200
|
iFAST Corp. Ltd. (Singapore)
|
34
|
83,841
|
Investec PLC (United Kingdom)
|
553
|
4,100
|
IwaiCosmo Holdings, Inc. (Japan)
|
59
|
41,100
|
Japan Exchange Group, Inc. (Japan)
|
910
|
131,408
|
Man Group PLC (United Kingdom)
|
393
|
230
|
Partners Group Holding AG (Switzerland)
|
310
|
5,700
|
Singapore Exchange Ltd. (Singapore)
|
40
|
1,200
|
Titanium OYJ (Finland)
|
22
|
27,500
|
TMX Group Ltd. (Canada)
|
680
|
55,123
|
UBS Group AG (Switzerland)
|
1,650
|
11,793
|
Westaim Corp. (Canada)*
|
32
|
|
|
10,429
|
CHEMICALS—1.0%
|
||
2,500
|
Achilles Corp. (Japan)
|
27
|
1,200
|
Asahi Yukizai Corp. (Japan)
|
33
|
5,600
|
Carlit Holdings Co. Ltd. (Japan)
|
37
|
2,900
|
Dai Nippon Toryo Co. Ltd. (Japan)
|
23
|
28,100
|
Daicel Corp. (Japan)
|
275
|
4,200
|
Fujimori Kogyo Co. Ltd. (Japan)
|
116
|
800
|
Hodogaya Chemical Co. Ltd. (Japan)
|
20
|
2,800
|
Ishihara Sangyo Kaisha Ltd. (Japan)
|
30
|
4,600
|
Koatsu Gas Kogyo Co. Ltd. (Japan)
|
27
|
5,200
|
Konishi Co. Ltd. (Japan)
|
50
|
492
|
KPX Chemical Co. Ltd. (South Korea)
|
16
|
2,800
|
Kyowa Leather Cloth Co. Ltd. (Japan)
|
15
|
2,000
|
MORESCO Corp. (Japan)
|
20
|
4,200
|
Nihon Parkerizing Co. Ltd. (Japan)
|
33
|
2,200
|
Nippon Carbide Industries Co., Inc. (Japan)
|
23
|
2,100
|
Nippon Shokubai Co. Ltd. (Japan)
|
79
|
1,400
|
Okamoto Industries, Inc. (Japan)
|
47
|
1,300
|
Okura Industrial Co. Ltd. (Japan)
|
25
|
80,933
|
Orica Ltd. (Australia)
|
854
|
7,100
|
Riken Technos Corp. (Japan)
|
42
|
5,600
|
Sekisui Kasei Co. Ltd. (Japan)
|
19
|
600
|
Soken Chemical & Engineering Co. Ltd. (Japan)
|
11
|
1,100
|
Sumitomo Seika Chemicals Co. Ltd. (Japan)
|
39
|
9,600
|
Tokuyama Corp. (Japan)
|
154
|
|
|
2,015
|
COMMERCIAL SERVICES & SUPPLIES—1.1%
|
||
4,000
|
Aeon Delight Co. Ltd. (Japan)
|
103
|
800
|
Ajis Co. Ltd. (Japan)
|
14
|
4,000
|
Azienda Bresciana Petroli Nocivelli SpA (Italy)
|
18
|
35,589
|
Brambles Ltd. (Australia)
|
339
|
⬤
32
Harbor International Core Fund
PORTFOLIO OF INVESTMENTS—Continued
Value and Cost in Thousands
COMMON STOCKS—Continued
|
||
Shares
|
|
Value
|
COMMERCIAL SERVICES & SUPPLIES—Continued
|
||
1,074
|
Cewe Stiftung & Co. KGAA (Germany)
|
$117
|
6,206
|
Chrysos Corp. Ltd. (Australia)*
|
27
|
3,800
|
Dai Nippon Printing Co. Ltd. (Japan)
|
110
|
13,743
|
Elis SA (France)
|
302
|
340
|
Fursys, Inc. (South Korea)*
|
8
|
2,746
|
GL Events SACA (France)
|
59
|
17,217
|
Johnson Service Group PLC (United Kingdom)
|
32
|
14,200
|
Kokuyo Co. Ltd. (Japan)
|
229
|
1,800
|
Kyodo Printing Co. Ltd. (Japan)
|
41
|
8,961
|
Mears Group PLC (United Kingdom)
|
39
|
5,900
|
Prestige International, Inc. (Japan)
|
24
|
1,900
|
Sato Holdings Corp. (Japan)
|
28
|
9,067
|
SPIE SA (France)
|
300
|
2,500
|
Takara & Co. Ltd. (Japan)
|
48
|
15,200
|
TOPPAN Holdings, Inc. (Japan)
|
419
|
|
|
2,257
|
COMMUNICATIONS EQUIPMENT—0.0%
|
||
1,712
|
EVS Broadcast Equipment SA (Belgium)
|
56
|
CONSTRUCTION & ENGINEERING—0.7%
|
||
8,889
|
ACS Actividades de Construccion y Servicios SA (Spain)
|
351
|
316,778
|
Analogue Holdings Ltd. (Hong Kong)
|
40
|
13,188
|
Boustead Singapore Ltd. (Singapore)
|
8
|
305
|
Burkhalter Holding AG (Switzerland)
|
31
|
18,032
|
Costain Group PLC (United Kingdom)
|
15
|
5,000
|
Dai-Ichi Cutter Kogyo KK (Japan)
|
46
|
2,091
|
Eiffage SA (France)
|
219
|
4,546
|
HOCHTIEF AG (Germany)
|
488
|
3,816
|
Lycopodium Ltd. (Australia)
|
30
|
905
|
Morgan Sindall Group PLC (United Kingdom)
|
26
|
3,722
|
Orascom Construction PLC (United Arab Emirates)
|
23
|
19,372
|
Service Stream Ltd. (Australia)
|
12
|
133,009
|
SRG Global Ltd. (Australia)
|
60
|
3,600
|
Tobishima Corp. (Japan)
|
37
|
7,700
|
Tomoe Corp. (Japan)
|
30
|
5,400
|
Toyo Engineering Corp. (Japan)*
|
30
|
|
|
1,446
|
CONSTRUCTION MATERIALS—3.2%
|
||
4,100
|
Asia Pile Holdings Corp. (Japan)
|
22
|
13,352
|
Breedon Group PLC (United Kingdom)
|
61
|
3,663
|
Buzzi SpA (Italy)
|
125
|
21,383
|
CRH PLC (United States)
|
1,534
|
16,825
|
Heidelberg Materials AG (Germany)
|
1,554
|
75,220
|
James Hardie Industries PLC CDI (United States)*,1
|
2,826
|
12,394
|
Qatar National Cement Co. QSC (Qatar)
|
14
|
4,000
|
Shinagawa Refractories Co. Ltd. (Japan)
|
54
|
1,742
|
Titan Cement International SA (United States)
|
45
|
29,705
|
Wagners Holding Co. Ltd. (Australia)*
|
18
|
|
|
6,253
|
CONSUMER STAPLES DISTRIBUTION & RETAIL—0.4%
|
||
4,400
|
Axial Retailing, Inc. (Japan)
|
122
|
9,200
|
Beshom Holdings Bhd. (Malaysia)
|
2
|
1,676
|
Colruyt Group NV (Belgium)
|
77
|
16,210
|
Eurocash SA (Poland)
|
61
|
3,300
|
G-7 Holdings, Inc. (Japan)
|
28
|
10,268
|
Jeronimo Martins SGPS SA (Portugal)
|
234
|
500
|
Lawson, Inc. (Japan)
|
29
|
7,200
|
Medical System Network Co. Ltd. (Japan)
|
30
|
2,600
|
Mitsubishi Shokuhin Co. Ltd. (Japan)
|
88
|
3,600
|
Orsero SpA (Italy)
|
67
|
2,700
|
Qol Holdings Co. Ltd. (Japan)
|
32
|
1,964
|
Sligro Food Group NV (Netherlands)
|
31
|
1,300
|
Toho Co. Ltd. (Japan)
|
25
|
|
|
826
|
COMMON STOCKS—Continued
|
||
Shares
|
|
Value
|
CONTAINERS & PACKAGING—0.1%
|
||
18,631
|
Orora Ltd. (Australia)
|
$34
|
6,177
|
Pro-Pacific Packaging Ltd. (Australia)*
|
1
|
39,400
|
PSC Corp. Ltd. (Singapore)
|
10
|
1,900
|
Richards Packaging Income Fund (Canada)
|
49
|
9,900
|
Thantawan Industry PCL NVDR (Thailand)1
|
8
|
|
|
102
|
DISTRIBUTORS—0.0%
|
||
52,861
|
Smiths News PLC (United Kingdom)
|
32
|
DIVERSIFIED CONSUMER SERVICES—0.2%
|
||
1,533
|
JLS Co. Ltd. (South Korea)
|
8
|
30,798
|
Me Group International PLC (United Kingdom)
|
49
|
2,713
|
MegaStudy Co. Ltd. (South Korea)
|
22
|
30,042
|
TAL Education Group ADR (China)*,1
|
320
|
3,700
|
Tear Corp. (Japan)
|
12
|
|
|
411
|
DIVERSIFIED TELECOMMUNICATION SERVICES—0.0%
|
||
604
|
Magyar Telekom Telecommunications PLC ADR (Hungary)1
|
7
|
3,800
|
Vision, Inc. (Japan)*
|
30
|
|
|
37
|
ELECTRIC UTILITIES—0.3%
|
||
1,171
|
BKW AG (Switzerland)
|
186
|
48,945
|
Enel SpA (Italy)
|
334
|
|
|
520
|
ELECTRICAL EQUIPMENT—1.1%
|
||
48,183
|
ABB Ltd. (Switzerland)
|
2,038
|
735
|
Cembre SpA (Italy)
|
32
|
5,600
|
Chiyoda Integre Co. Ltd. (Japan)
|
105
|
2,500
|
Sinfonia Technology Co. Ltd. (Japan)
|
40
|
51,000
|
Xingye Alloy Materials Group Ltd. (China)*
|
7
|
|
|
2,222
|
ELECTRONIC EQUIPMENT, INSTRUMENTS & COMPONENTS—0.6%
|
||
12,192
|
Codan Ltd. (Australia)
|
64
|
2,300
|
Daitron Co. Ltd. (Japan)
|
47
|
77,905
|
DataTec Ltd. (South Africa)
|
171
|
4,400
|
Horiba Ltd. (Japan)
|
353
|
3,900
|
Iriso Electronics Co. Ltd. (Japan)
|
91
|
1,000
|
Kaga Electronics Co. Ltd. (Japan)
|
46
|
5,200
|
Koa Corp. (Japan)
|
53
|
16,000
|
Maxell Ltd. (Japan)
|
176
|
265
|
Nedap NV (Netherlands)
|
18
|
2,700
|
Nihon Denkei Co. Ltd. (Japan)
|
38
|
3,800
|
Osaki Electric Co. Ltd. (Japan)
|
18
|
2,700
|
Sigma Koki Co. Ltd. (Japan)
|
27
|
2,700
|
SMK Corp. (Japan)
|
46
|
2,000
|
Sun-Wa Technos Corp. (Japan)
|
32
|
|
|
1,180
|
ENERGY EQUIPMENT & SERVICES—0.5%
|
||
55,749
|
CES Energy Solutions Corp. (Canada)
|
168
|
13,597
|
Hunting PLC (United Kingdom)
|
56
|
62,210
|
MMA Offshore Ltd. (Australia)*
|
84
|
10,553
|
Pason Systems, Inc. (Canada)
|
116
|
23,013
|
PHX Energy Services Corp. (Canada)
|
160
|
9,418
|
Technip Energies NV (France)
|
195
|
15,004
|
Vallourec SACA (France)*
|
215
|
|
|
994
|
ENTERTAINMENT—1.6%
|
||
7,900
|
Ateam, Inc. (Japan)
|
30
|
14,200
|
Capcom Co. Ltd. (Japan)
|
542
|
46,000
|
IGG, Inc. (Singapore)*
|
16
|
⬤
33
Harbor International Core Fund
PORTFOLIO OF INVESTMENTS—Continued
Value and Cost in Thousands
COMMON STOCKS—Continued
|
||
Shares
|
|
Value
|
ENTERTAINMENT—Continued
|
||
15,900
|
Nexon Co. Ltd. (Japan)
|
$254
|
10,628
|
Spotify Technology SA (United States)*
|
2,289
|
|
|
3,131
|
FINANCIAL SERVICES—0.6%
|
||
26,741
|
Banca Mediolanum SpA (Italy)
|
274
|
3,972
|
Eurazeo SE (France)
|
338
|
5,400
|
Firm Capital Mortgage Investment Corp. (Canada)
|
46
|
95,700
|
Pacific Century Regional Developments Ltd. (Singapore)
|
20
|
32,279
|
Wise PLC Class A (United Kingdom)*
|
329
|
2,200
|
Zenkoku Hosho Co. Ltd. (Japan)
|
82
|
|
|
1,089
|
FOOD PRODUCTS—0.2%
|
||
469,500
|
CCK Consolidated Holdings Bhd. (Malaysia)
|
89
|
1,500,000
|
China Starch Holdings Ltd. (China)
|
24
|
39,400
|
Delfi Ltd. (Singapore)
|
32
|
797
|
Industrial Milk Co. (Ukraine)*
|
2
|
58,700
|
Kawan Food Bhd. (Malaysia)
|
23
|
561
|
Maeil Holdings Co. Ltd. (South Korea)*
|
3
|
27,953
|
Ridley Corp. Ltd. (Australia)
|
51
|
1,562
|
Sajodaerim Corp. (South Korea)
|
39
|
356,800
|
Salim Ivomas Pratama Tbk. PT (Indonesia)
|
8
|
98,600
|
Sarawak Plantation Bhd. (Malaysia)
|
46
|
17,200
|
Ta Ann Holdings Bhd. (Malaysia)
|
14
|
4,600
|
Warabeya Nichiyo Holdings Co. Ltd. (Japan)
|
89
|
|
|
420
|
GAS UTILITIES—0.0%
|
||
4,400
|
Hiroshima Gas Co. Ltd. (Japan)
|
12
|
2,300
|
Toho Gas Co. Ltd. (Japan)
|
46
|
|
|
58
|
GROUND TRANSPORTATION—0.2%
|
||
4,400
|
Alps Logistics Co. Ltd. (Japan)
|
53
|
341,700
|
BTS Rail Mass Transit Growth Infrastructure Fund (Thailand)
|
25
|
1,900
|
Chilled & Frozen Logistics Holdings Co. Ltd. (Japan)
|
22
|
50,609
|
Firstgroup PLC (United Kingdom)
|
107
|
220
|
Jungfraubahn Holding AG (Switzerland)
|
43
|
36,910
|
Lindsay Australia Ltd. (Australia)
|
26
|
1,000
|
Maruzen Showa Unyu Co. Ltd. (Japan)
|
28
|
3,400
|
Mullen Group Ltd. (Canada)
|
38
|
14,007
|
PKP Cargo SA (Poland)*
|
49
|
1,800
|
Seino Holdings Co. Ltd. (Japan)
|
26
|
|
|
417
|
HEALTH CARE EQUIPMENT & SUPPLIES—1.1%
|
||
7,058
|
Cochlear Ltd. (Australia)
|
1,401
|
12,657
|
Demant AS (Denmark)*
|
573
|
2,200
|
Fukuda Denshi Co. Ltd. (Japan)
|
117
|
1,900
|
Nihon Kohden Corp. (Japan)
|
58
|
|
|
2,149
|
HEALTH CARE PROVIDERS & SERVICES—0.5%
|
||
18,500
|
Alfresa Holdings Corp. (Japan)
|
304
|
3,943
|
Dedicare AB Class B (Sweden)
|
40
|
19,831
|
Humana AB (Sweden)*
|
50
|
4,800
|
Japan Medical Dynamic Marketing, Inc. (Japan)
|
24
|
5,400
|
Koa Shoji Holdings Co. Ltd. (Japan)
|
28
|
60,000
|
Ladprao General Hospital PCL NVDR (Thailand)1
|
8
|
2,000
|
Medipal Holdings Corp. (Japan)
|
32
|
6,322
|
Oriola OYJ (Finland)
|
8
|
830
|
Oriola OYJ Class B (Finland)
|
1
|
4,000
|
Suzuken Co. Ltd. (Japan)
|
124
|
11,700
|
Toho Holdings Co. Ltd. (Japan)
|
254
|
10,598
|
Viemed Healthcare, Inc. (United States)*
|
86
|
COMMON STOCKS—Continued
|
||
Shares
|
|
Value
|
HEALTH CARE PROVIDERS & SERVICES—Continued
|
||
9,200
|
Vital KSK Holdings, Inc. (Japan)
|
$72
|
|
|
1,031
|
HEALTH CARE TECHNOLOGY—0.3%
|
||
211
|
Ascom Holding AG (Switzerland)
|
2
|
7,502
|
Pro Medicus Ltd. (Australia)
|
494
|
|
|
496
|
HOTELS, RESTAURANTS & LEISURE—2.2%
|
||
73,287
|
Aristocrat Leisure Ltd. (Australia)
|
2,113
|
4,523
|
Betsson AB Class B (Sweden)
|
49
|
400,400
|
Champ Resto Indonesia Tbk. PT (Indonesia)
|
33
|
495,000
|
Genting Singapore Ltd. (Singapore)
|
372
|
83,100
|
Jaya Bersama Indo Tbk. PT (Indonesia)*
|
—
x
|
43,700
|
Kimly Ltd. (Singapore)
|
10
|
32,104
|
La Francaise des Jeux SAEM (France)2
|
1,301
|
8,233
|
Whitbread PLC (United Kingdom)
|
373
|
2,500
|
Yossix Holdings Co. Ltd. (Japan)
|
51
|
61,600
|
Zen Corp. Group PCL NVDR (Thailand)1
|
15
|
|
|
4,317
|
HOUSEHOLD DURABLES—0.6%
|
||
5
|
Dom Development SA (Poland)
|
—
|
3,800
|
JANOME Corp. (Japan)
|
18
|
1,457
|
Kaufman & Broad SA (France)
|
43
|
4,700
|
Nihon Trim Co. Ltd. (Japan)
|
102
|
47,000
|
Panasonic Holdings Corp. (Japan)
|
443
|
4,439
|
SEB SA (France)
|
542
|
10,993
|
Toya SA (Poland)*
|
23
|
|
|
1,171
|
INDUSTRIAL CONGLOMERATES—1.1%
|
||
1,700
|
Hikari Tsushin, Inc. (Japan)
|
296
|
5,700
|
Jardine Matheson Holdings Ltd. (Hong Kong)
|
229
|
14,034
|
Qatar Industrial Manufacturing Co. QSC (Qatar)
|
12
|
8,732
|
Siemens AG (Germany)
|
1,563
|
|
|
2,100
|
INSURANCE—3.0%
|
||
21,539
|
Chesnara PLC (United Kingdom)
|
72
|
10,172
|
Conduit Holdings Ltd. (Bermuda)
|
61
|
42,500
|
Dai-ichi Life Holdings, Inc. (Japan)
|
932
|
195,700
|
Japan Post Holdings Co. Ltd. (Japan)
|
1,873
|
40,600
|
Japan Post Insurance Co. Ltd. (Japan)
|
760
|
15,500
|
MS&AD Insurance Group Holdings, Inc. (Japan)
|
640
|
4,366
|
SCOR SE (France)
|
130
|
11,300
|
Sompo Holdings, Inc. (Japan)
|
586
|
7,534
|
Talanx AG (Germany)
|
529
|
15,500
|
Tokio Marine Holdings, Inc. (Japan)
|
409
|
|
|
5,992
|
INTERACTIVE MEDIA & SERVICES—0.2%
|
||
1,184
|
Autohome, Inc. ADR (China)1
|
30
|
2,833
|
JOYY, Inc. ADR (China)1
|
87
|
13,600
|
Kakaku.com, Inc. (Japan)
|
155
|
17,425
|
Yalla Group Ltd. ADR (United Arab Emirates)*,1
|
89
|
|
|
361
|
IT SERVICES—4.0%
|
||
2,100
|
AGS Corp. (Japan)
|
14
|
1,100
|
Argo Graphics, Inc. (Japan)
|
32
|
4,958
|
Atea ASA (Sweden)
|
66
|
2,721
|
B3 Consulting Group AB (Sweden)
|
24
|
1,400
|
Business Brain Showa-Ota, Inc. (Japan)
|
21
|
800
|
CDS Co. Ltd. (Japan)
|
9
|
640
|
ComArch SA (Poland)
|
33
|
⬤
34
Harbor International Core Fund
PORTFOLIO OF INVESTMENTS—Continued
Value and Cost in Thousands
COMMON STOCKS—Continued
|
||
Shares
|
|
Value
|
IT SERVICES—Continued
|
||
4,200
|
Core Corp. (Japan)
|
$51
|
11,000
|
Fujitsu Ltd. (Japan)
|
1,523
|
7,700
|
Future Corp. (Japan)
|
91
|
1,500
|
GMO GlobalSign Holdings KK (Japan)
|
29
|
2,600
|
ID Holdings Corp. (Japan)
|
30
|
40,100
|
NEC Corp. (Japan)
|
2,620
|
1,600
|
Obic Co. Ltd. (Japan)
|
246
|
1,500
|
Oro Co. Ltd. (Japan)
|
30
|
12,600
|
Otsuka Corp. (Japan)
|
530
|
9,300
|
SCSK Corp. (Japan)
|
183
|
571
|
Sopra Steria Group SACA (France)
|
134
|
3,300
|
TechMatrix Corp. (Japan)
|
35
|
8,400
|
TIS, Inc. (Japan)
|
187
|
4,200
|
Ubicom Holdings, Inc. (Japan)
|
43
|
15,419
|
Wix.com Ltd. (Israel)*
|
1,956
|
700
|
Zuken, Inc. (Japan)
|
19
|
|
|
7,906
|
LEISURE PRODUCTS—0.1%
|
||
1,500
|
Sankyo Co. Ltd. (Japan)
|
92
|
3,600
|
Tomy Co. Ltd. (Japan)
|
59
|
|
|
151
|
MACHINERY—3.8%
|
||
2,025
|
ANDRITZ AG (Austria)
|
125
|
7,300
|
Daihatsu Diesel Manufacturing Co. Ltd. (Japan)
|
64
|
13,379
|
Deutz AG (Germany)
|
81
|
5,396
|
Duerr AG (Germany)
|
123
|
54
|
Exail Technologies SA (France)*
|
1
|
268
|
Exel Industries SA Class A (France)
|
17
|
1,691
|
Georg Fischer AG (Switzerland)
|
113
|
3,000
|
Glory Ltd. (Japan)
|
62
|
1,327
|
Grenevia SA (Poland)*
|
1
|
6,612
|
Knorr-Bremse AG (Germany)
|
408
|
3,700
|
Maezawa Industries, Inc. (Japan)
|
27
|
18,900
|
Miura Co. Ltd. (Japan)
|
345
|
3,200
|
Morita Holdings Corp. (Japan)
|
34
|
8,800
|
Nippon Thompson Co. Ltd. (Japan)
|
35
|
2,200
|
Nitto Kohki Co. Ltd. (Japan)
|
29
|
371
|
Palfinger AG (Austria)
|
10
|
247
|
Rational AG (Germany)
|
190
|
600
|
Rix Corp. (Japan)
|
15
|
6,900
|
Schindler Holding AG (Switzerland)
|
1,719
|
22,380
|
SKF AB Class B (Sweden)
|
441
|
4,700
|
Sodick Co. Ltd. (Japan)
|
23
|
3,000
|
Toyo Machinery & Metal Co. Ltd. (Japan)
|
14
|
9,561
|
Vesuvius PLC (United Kingdom)
|
58
|
107,699
|
Volvo AB Class B (Sweden)
|
2,581
|
55,108
|
Wartsila OYJ Abp (Finland)
|
813
|
52,300
|
Yangzijiang Shipbuilding Holdings Ltd. (China)
|
65
|
|
|
7,394
|
MARINE TRANSPORTATION—2.1%
|
||
1,212
|
AP Moller - Maersk AS Class B (Denmark)
|
2,235
|
40,373
|
Hoegh Autoliners ASA (Norway)
|
405
|
3,467
|
Kuehne & Nagel International AG (Switzerland)
|
1,175
|
1,228,800
|
Marco Polo Marine Ltd. (Singapore)*
|
47
|
341,700
|
Samudera Shipping Line Ltd. (Singapore)
|
174
|
1,029
|
Stolt-Nielsen Ltd. (Norway)
|
38
|
2,303
|
Western Bulk Chartering AS (Norway)
|
6
|
1,724
|
Wilson ASA (Norway)*
|
10
x
|
|
|
4,090
|
MEDIA—0.7%
|
||
1,200
|
AlphaPolis Co. Ltd. (Japan)*
|
19
|
4,842
|
Bloomsbury Publishing PLC (United Kingdom)
|
29
|
5,458
|
Criteo SA ADR (France)*,1
|
141
|
COMMON STOCKS—Continued
|
||
Shares
|
|
Value
|
MEDIA—Continued
|
||
1,900
|
FAN Communications, Inc. (Japan)
|
$5
|
960
|
HighCo (France)
|
3
|
14,050
|
NZME Ltd. (New Zealand)
|
9
|
158,443
|
Pico Far East Holdings Ltd. (Hong Kong)
|
31
|
100
|
Proto Corp. (Japan)
|
1
|
33,805
|
PRT Co. Ltd. (Australia)*
|
—
x
|
10,257
|
Publicis Groupe SA (France)
|
1,028
|
16,315
|
SKY Network Television Ltd. (New Zealand)
|
28
|
10,900
|
SKY Perfect JSAT Holdings, Inc. (Japan)
|
57
|
|
|
1,351
|
METALS & MINING—4.2%
|
||
1,595
|
Anglo American PLC (South Africa)
|
38
|
233,117
|
Base Resources Ltd. (Australia)
|
25
|
67,085
|
BlueScope Steel Ltd. (Australia)
|
1,024
|
17,724
|
Boryszew SA (Poland)
|
26
|
48,281
|
Champion Iron Ltd. (Australia)
|
265
|
15,426
|
ElvalHalcor SA (Greece)
|
40
|
77,940
|
Fortescue Ltd. (Australia)
|
1,506
|
17,744
|
Gem Diamonds Ltd. (United Kingdom)*
|
3
|
17,603
|
Iluka Resources Ltd. (Australia)
|
82
|
6,948
|
Major Drilling Group International, Inc. (Canada)*
|
43
|
113,919
|
Northern Star Resources Ltd. (Australia)
|
977
|
35,973
|
Perenti Ltd. (Australia)*
|
19
|
127,608
|
Regis Resources Ltd. (Australia)*
|
174
|
46,952
|
Rio Tinto PLC ADR (Australia)1
|
3,252
|
93,363
|
Sierra Rutile Holdings Ltd. (Australia)*
|
4
|
148,422
|
South32 Ltd. (Australia)
|
321
|
33,261
|
Stanmore Resources Ltd. (Australia)
|
85
|
39,616
|
thyssenkrupp AG (Germany)
|
245
|
2,200
|
Topy Industries Ltd. (Japan)
|
43
|
5,500
|
Tree Island Steel Ltd. (Canada)
|
14
|
3,359
|
Zimplats Holdings Ltd. (Australia)
|
49
|
|
|
8,235
|
MULTI-UTILITIES—2.3%
|
||
98,993
|
A2A SpA (Italy)
|
196
|
884,402
|
Centrica PLC (United Kingdom)
|
1,548
|
194,256
|
E.ON SE (Germany)
|
2,628
|
45,600
|
Sembcorp Industries Ltd. (Singapore)
|
192
|
|
|
4,564
|
OIL, GAS & CONSUMABLE FUELS—5.0%
|
||
116,400
|
ABM Investama Tbk. PT (Indonesia)
|
25
|
22,909
|
Ampol Ltd. (Australia)
|
542
|
36,669
|
Awilco LNG AS (Norway)
|
27
|
551,700
|
Baramulti Suksessarana Tbk. PT (Indonesia)
|
129
|
130,664
|
BP PLC ADR (United Kingdom)1
|
4,586
|
55,295
|
Channel Infrastructure NZ Ltd. (New Zealand)
|
50
|
75,100
|
China Aviation Oil Singapore Corp. Ltd. (Singapore)
|
49
|
41,848
|
Hafnia Ltd. (Singapore)
|
304
|
507,155
|
Horizon Oil Ltd. (Australia)
|
49
|
27,500
|
Idemitsu Kosan Co. Ltd. (Japan)
|
153
|
96,000
|
Lanna Resources PCL NVDR (Thailand)1
|
40
|
3,518
|
Lubelski Wegiel Bogdanka SA (Poland)
|
30
|
110,622
|
New Hope Corp. Ltd. (Australia)
|
387
|
2,882,000
|
PetroChina Co. Ltd. Class H (China)
|
2,085
|
577,000
|
Petron Corp. (Philippines)
|
35
|
53,000
|
PTT Exploration & Production PCL NVDR (Thailand)1
|
224
|
897,694
|
Resource Alam Indonesia Tbk. PT (Indonesia)
|
21
|
19,617
|
Shell PLC (Netherlands)
|
608
|
92,900
|
Thai Oil PCL NVDR (Thailand)1
|
143
|
83,223
|
Whitehaven Coal Ltd. (Australia)
|
455
|
|
|
9,942
|
PAPER & FOREST PRODUCTS—0.0%
|
||
1,311
|
Midway Ltd. (Australia)
|
1
|
⬤
35
Harbor International Core Fund
PORTFOLIO OF INVESTMENTS—Continued
Value and Cost in Thousands
COMMON STOCKS—Continued
|
||
Shares
|
|
Value
|
PASSENGER AIRLINES—1.1%
|
||
112,697
|
Air New Zealand Ltd. (New Zealand)
|
$44
|
108,173
|
International Consolidated Airlines Group SA (United Kingdom)*
|
202
|
180,730
|
Qantas Airways Ltd. (Australia)*
|
651
|
255,500
|
Singapore Airlines Ltd. (Singapore)
|
1,268
|
|
|
2,165
|
PERSONAL CARE PRODUCTS—0.0%
|
||
477
|
Interparfums SA (France)
|
25
|
PHARMACEUTICALS—12.1%
|
||
21,427
|
Hikma Pharmaceuticals PLC (Jordan)
|
523
|
1,436
|
Ipsen SA (France)
|
166
|
31,700
|
Nippon Shinyaku Co. Ltd. (Japan)
|
1,120
|
43,495
|
Novartis AG (Switzerland)
|
4,498
|
2,668
|
Novo Nordisk AS ADR (Denmark)1
|
306
|
66,321
|
Novo Nordisk AS Class B (Denmark)
|
7,581
|
27,800
|
Ono Pharmaceutical Co. Ltd. (Japan)
|
501
|
284
|
Orion OYJ Class A (Finland)
|
13
|
7,500
|
Otsuka Holdings Co. Ltd. (Japan)
|
295
|
15,754
|
Recordati Industria Chimica e Farmaceutica SpA (Italy)
|
869
|
18,038
|
Roche Holding AG (United States)
|
5,136
|
34,027
|
Sandoz Group AG (Switzerland)*
|
1,167
|
30,600
|
Santen Pharmaceutical Co. Ltd. (Japan)
|
309
|
8,600
|
Sawai Group Holdings Co. Ltd. (Japan)
|
325
|
5,600
|
Seikagaku Corp. (Japan)
|
29
|
16,700
|
Shionogi & Co. Ltd. (Japan)
|
801
|
26,500
|
Sumitomo Pharma Co. Ltd. (Japan)
|
78
|
274
|
Vetoquinol SA (France)
|
32
|
1,500
|
ZERIA Pharmaceutical Co. Ltd. (Japan)
|
21
|
|
|
23,770
|
PROFESSIONAL SERVICES—3.7%
|
||
600
|
Abist Co. Ltd. (Japan)
|
13
|
613
|
Bertrandt AG (Germany)
|
33
|
1,700
|
Career Design Center Co. Ltd. (Japan)
|
24
|
1,800
|
Creek & River Co. Ltd. (Japan)
|
24
|
5,300
|
en Japan, Inc. (Japan)
|
98
|
28,361
|
Experian PLC (United Kingdom)
|
1,180
|
4,400
|
JAC Recruitment Co. Ltd. (Japan)
|
20
|
2,600
|
Matching Service Japan Co. Ltd. (Japan)
|
22
|
2,400
|
MEITEC Group Holdings, Inc. (Japan)
|
47
|
989
|
Pagegroup PLC (United Kingdom)
|
6
|
32,700
|
Persol Holdings Co. Ltd. (Japan)
|
52
|
1,119
|
Randstad NV (Netherlands)
|
64
|
22,000
|
Recruit Holdings Co. Ltd. (Japan)
|
869
|
19,258
|
RELX PLC (United Kingdom)
|
795
|
5,300
|
SIGMAXYZ Holdings, Inc. (Japan)
|
50
|
2,400
|
SMS Co. Ltd. (Japan)
|
43
|
8,500
|
Space Co. Ltd. (Japan)
|
55
|
3,412
|
SThree PLC (United Kingdom)
|
18
|
6,185
|
Wilmington PLC (United Kingdom)
|
25
|
25,975
|
Wolters Kluwer NV (Netherlands)
|
3,829
|
1,600
|
YAMADA Consulting Group Co. Ltd. (Japan)
|
20
|
|
|
7,287
|
REAL ESTATE MANAGEMENT & DEVELOPMENT—0.2%
|
||
4,596,500
|
Agung Podomoro Land Tbk. PT (Indonesia)*
|
36
|
946
|
Almogim Holdings Ltd. (Israel)
|
2
|
292,649
|
Deyaar Development PJSC (United Arab Emirates)*
|
56
|
107,325
|
Emaar Properties PJSC (United Arab Emirates)
|
217
|
116,681
|
Ever Reach Group Holdings Co. Ltd. (China)*
|
3
|
998
|
K Wah International Holdings Ltd. (Hong Kong)
|
—
|
1,077
|
Melcor Developments Ltd. (Canada)
|
10
|
20,963
|
Modern Land China Co. Ltd. (China)*
|
—
|
2,400
|
Propnex Ltd. (Singapore)
|
2
|
|
|
326
|
COMMON STOCKS—Continued
|
||
Shares
|
|
Value
|
SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT—3.4%
|
||
163,151
|
ASE Technology Holding Co. Ltd. ADR (Taiwan)1
|
$1,516
|
113
|
ASML Holding NV New York Registry Shares (Netherlands)
|
98
|
1,378
|
ChipMOS Technologies, Inc. ADR (Taiwan)1
|
37
|
300
|
Disco Corp. (Japan)
|
81
|
43,096
|
Himax Technologies, Inc. ADR (Taiwan)1
|
246
|
4,800
|
Japan Electronic Materials Corp. (Japan)
|
60
|
3,100
|
Megachips Corp. (Japan)
|
100
|
2,000
|
Micronics Japan Co. Ltd. (Japan)
|
59
|
4,700
|
Mimasu Semiconductor Industry Co. Ltd. (Japan)
|
101
|
8,300
|
Optorun Co. Ltd. (Japan)
|
96
|
900
|
RS Technologies Co. Ltd. (Japan)
|
18
|
2,500
|
Sanken Electric Co. Ltd. (Japan)
|
115
|
26,300
|
SCREEN Holdings Co. Ltd. (Japan)
|
2,579
|
18,455
|
Silicon Motion Technology Corp. ADR (Taiwan)1
|
1,162
|
900
|
Tera Probe, Inc. (Japan)
|
43
|
2,100
|
Tokyo Electron Ltd. (Japan)
|
390
|
1,500
|
Tokyo Seimitsu Co. Ltd. (Japan)
|
97
|
|
|
6,798
|
SOFTWARE—5.2%
|
||
2,388
|
Altium Ltd. (Australia)
|
77
|
6,085
|
Check Point Software Technologies Ltd. (Israel)*
|
967
|
14,600
|
Coveo Solutions, Inc. (Canada)*
|
106
|
503
|
CyberArk Software Ltd. (United States)*
|
117
|
18,526
|
Dassault Systemes SE (France)
|
960
|
1,100
|
Digital Arts, Inc. (Japan)
|
38
|
1,185
|
Enghouse Systems Ltd. (Canada)
|
33
|
5,400
|
ISB Corp. (Japan)
|
57
|
5,654
|
Monday.com Ltd. (United States)*
|
1,188
|
2,853
|
Nemetschek SE (Germany)
|
263
|
600
|
NTT Data Intramart Corp. (Japan)
|
8
|
123,543
|
Sage Group PLC (United Kingdom)
|
1,839
|
20,995
|
SAP SE (Germany)
|
3,637
|
1,800
|
Soliton Systems KK (Japan)
|
17
|
1,410
|
Temenos AG (Switzerland)
|
143
|
3,545
|
Text SA (Poland)
|
86
|
10,900
|
Trend Micro, Inc. (Japan)
|
624
|
1,400
|
WingArc1st, Inc. (Japan)
|
27
|
|
|
10,187
|
SPECIALTY RETAIL—4.1%
|
||
5,000
|
Adastria Co. Ltd. (Japan)
|
117
|
6,743
|
Autosports Group Ltd. (Australia)
|
11
|
441
|
Castro Model Ltd. (Israel)*
|
5
|
3,500
|
Fast Retailing Co. Ltd. (Japan)
|
934
|
4,300
|
Fuji Corp. (Japan)
|
52
|
43,525
|
H & M Hennes & Mauritz AB Class B (Sweden)
|
614
|
117,586
|
Industria de Diseno Textil SA (Spain)
|
5,028
|
6,986
|
Naturhouse Health SAU (Spain)
|
12
|
113,600
|
Padini Holdings Bhd. (Malaysia)
|
85
|
10,200
|
PAL GROUP Holdings Co. Ltd. (Japan)
|
163
|
70
|
Samse SACA (France)
|
15
|
52,000
|
USS Co. Ltd. (Japan)
|
983
|
|
|
8,019
|
TECHNOLOGY HARDWARE, STORAGE & PERIPHERALS—2.5%
|
||
30,700
|
Brother Industries Ltd. (Japan)
|
514
|
167,400
|
Konica Minolta, Inc. (Japan)*
|
459
|
29,604
|
Logitech International SA (Switzerland)
|
2,482
|
93,300
|
Ricoh Co. Ltd. (Japan)
|
733
|
44,800
|
Seiko Epson Corp. (Japan)
|
654
|
14,394
|
Tobii Dynavox AB (Sweden)*
|
58
|
4,000
|
Toshiba TEC Corp. (Japan)
|
83
|
6,000
|
Wacom Co. Ltd. (Japan)
|
28
|
|
|
5,011
|
⬤
36
Harbor International Core Fund
PORTFOLIO OF INVESTMENTS—Continued
Value and Cost in Thousands
COMMON STOCKS—Continued
|
||
Shares
|
|
Value
|
TEXTILES, APPAREL & LUXURY GOODS—4.0%
|
||
999
|
adidas AG (Germany)
|
$189
|
1,381
|
Bijou Brigitte AG (Germany)
|
57
|
2,000
|
Hermes International SCA (France)
|
4,219
|
12,252
|
Pandora AS (Denmark)
|
1,790
|
6,900
|
Seiko Group Corp. (Japan)
|
123
|
6,380
|
Swatch Group AG (Switzerland)
|
1,498
|
|
|
7,876
|
TOBACCO—0.0%
|
||
313,400
|
Wismilak Inti Makmur Tbk. PT (Indonesia)
|
34
|
TRADING COMPANIES & DISTRIBUTORS—0.7%
|
||
60,000
|
APAC Resources Ltd. (Hong Kong)
|
7
|
2,000
|
Chori Co. Ltd. (Japan)
|
40
|
2,900
|
Gecoss Corp. (Japan)
|
23
|
5,800
|
Hanwa Co. Ltd. (Japan)
|
212
|
2,349
|
Jacquet Metals SACA (France)
|
46
|
2,200
|
Kanaden Corp. (Japan)
|
23
|
800
|
Nanyo Corp. (Japan)
|
12
|
252,987
|
New Times Energy Corp. Ltd. (Hong Kong)*
|
2
|
900
|
Nice Corp. (Japan)
|
10
|
2,300
|
Parker Corp. (Japan)
|
13
|
34,095
|
Rexel SA (France)
|
908
|
1,700
|
Sugimoto & Co. Ltd. (Japan)
|
26
|
500
|
Tsubakimoto Kogyo Co. Ltd. (Japan)
|
23
|
|
|
1,345
|
TRANSPORTATION INFRASTRUCTURE—0.0%
|
||
1,802
|
Ocean Wilsons Holdings Ltd. (Bermuda)
|
31
|
91,000
|
Qilu Expressway Co. Ltd. (China)
|
22
|
|
|
53
|
TOTAL COMMON STOCKS
(Cost $173,334)
|
195,955
|
EXCHANGE-TRADED FUNDS—0.1%
|
||
Shares
|
|
Value
|
(Cost $94)
|
||
CAPITAL MARKETS—0.1%
|
||
1,269
|
iShares MSCI EAFE ETF (United States)
|
$95
|
PREFERRED STOCKS—0.2%
|
||
|
|
|
CHEMICALS—0.0%
|
||
1,829
|
FUCHS SE (Germany)
|
80
|
HOUSEHOLD PRODUCTS—0.1%
|
||
3,719
|
Henkel AG & Co. KGaA (Germany)
|
285
|
MACHINERY—0.1%
|
||
173
|
KSB SE & Co. KGaA (Germany)
|
110
|
TOTAL PREFERRED STOCKS
(Cost $405)
|
475
|
|
TOTAL INVESTMENTS—99.7%
(Cost $173,833)
|
196,525
|
|
CASH AND OTHER ASSETS, LESS LIABILITIES—0.3%
|
524
|
|
TOTAL NET ASSETS—100%
|
$197,049
|
FAIR VALUE MEASUREMENTS
The following table summarizes the Fund’s investments as of January 31, 2024 based on the inputs used to value them.
Asset Category
|
Quoted Prices
Level 1
(000s)
|
Other Significant
Observable Inputs
Level 2
(000s)
|
Significant
Unobservable
Inputs
Level 3
(000s)
|
Total
(000s)
|
Common Stocks
|
|
|
|
|
Africa
|
$—
|
$388
|
$—
|
$388
|
Europe
|
5,138
|
100,766
|
10
|
105,914
|
Middle East/Central Asia
|
3,012
|
579
|
—
|
3,591
|
North America
|
6,823
|
11,815
|
—
|
18,638
|
Pacific Basin
|
7,524
|
59,900
|
—
|
67,424
|
Exchange-Traded Funds
|
|
|
|
|
North America
|
95
|
—
|
—
|
95
|
Preferred Stocks
|
|
|
|
|
Europe
|
—
|
475
|
—
|
475
|
Total Investments in Securities
|
$22,592
|
$173,923
|
$10
|
$196,525
|
⬤
37
Harbor International Core Fund
PORTFOLIO OF INVESTMENTS—Continued
FAIR VALUE MEASUREMENTS—Continued
For more information on valuation inputs and their aggregation into the levels identified above, please refer to the Fair
Value Measurements and Disclosures in Note 2 of the accompanying Notes to Portfolios of Investments.
The following is a rollforward of the Fund’s Level 3 investments during the period ended January 31, 2024. Transfers into or out of Level 3 are recognized as of the last day in the fiscal quarter of the period in which the event or change in circumstances that caused the reclassification
occurred.
Valuation
Description
|
Beginning
Balance
as of 11/01/2023
(000s)
|
Purchases
(000s)
|
Sales
(000s)
|
Discount/
(Premium)
(000s)
|
Total
Realized
Gain/(Loss)
(000s)
|
Change in
Unrealized
Appreciation/
(Depreciation)
(000s)
|
Transfers
Into
Level 3
(000s)
|
Transfers
Out of
Level 3
(000s)
|
Ending
Balance
as of
01/31/2024
(000s)
|
Unrealized
Gain/(Loss)
as of
01/31/2024
(000s)
|
Common Stock
|
$33
|
$—
|
$(17)
|
$—
|
$(9)
|
$3
|
$—
|
$—
|
$10
|
$(11)
|
The following is a summary of significant unobservable inputs used in the fair valuations of assets and liabilities categorized
within Level 3 of the fair value hierarchy.
Valuation Descriptions
|
Ending Balance
as of 01/31/24
(000s)
|
Valuation
Technique
|
Unobservable
Input(s)
|
Input
Value(s)
|
Investments in Securities
|
|
|
|
|
Common Stocks
|
|
|
|
|
Jaya Bersama Indo Tbk. PT (Indonesia)*
|
$—
|
Market Approach
|
Estimated Recovery Value
|
IDR
0.00
|
Wilson ASA (Norway)*.
|
10
|
Market Approach
|
Estimated Recovery Value
|
NOK 63.00
|
|
$10
|
|
|
|
*
Non-income producing security
x
Fair valued in accordance with Harbor funds' valuation procedures.
1
Depositary receipts such as American Depositary Receipts (ADRs), Global Depositary Receipts (GDRs) and other country specific
depositary receipts are certificates evidencing ownership of shares of a foreign issuer. These certificates are issued by depositary
banks and generally trade on an established market in the U.S. or elsewhere.
2
Securities purchased in a transaction exempt from registration under Rule 144A of the Securities Act of 1933. These securities
may be resold in transactions exempt from registration, normally to qualified institutional buyers. The Fund has no right to demand
registration of these securities. As of January 31, 2024, the aggregate value of these securities was $1,301 or 1% of net assets.
IDR
Indonesian Rupiah
NOK
Norwegian Krone
The accompanying notes are an integral part of the Portfolios of Investments.
⬤
38
Harbor International Growth Fund
PORTFOLIO OF INVESTMENTS—January 31, 2024 (Unaudited)
Value and Cost in Thousands
COMMON STOCKS—97.8%
|
||
Shares
|
|
Value
|
AIR FREIGHT & LOGISTICS—1.0%
|
||
13,023
|
DSV AS (Denmark)
|
$2,330
|
BANKS—3.6%
|
||
180,319
|
HDFC Bank Ltd. (India)
|
3,171
|
270,607
|
United Overseas Bank Ltd. (Singapore)
|
5,704
|
|
|
8,875
|
BEVERAGES—4.7%
|
||
57,948
|
Anheuser-Busch InBev SA (Belgium)
|
3,585
|
22,059
|
Fomento Economico Mexicano SAB de CV ADR (Mexico)1
|
2,990
|
23,215
|
Remy Cointreau SA (France)
|
2,352
|
182,464
|
United Spirits Ltd. (India)
|
2,385
|
|
|
11,312
|
BIOTECHNOLOGY—0.5%
|
||
108,243
|
BeiGene Ltd. (China)*
|
1,227
|
BROADLINE RETAIL—5.9%
|
||
303,636
|
Alibaba Group Holding Ltd. (China)
|
2,723
|
88,544
|
Coupang, Inc. (South Korea)*
|
1,240
|
3,833
|
MercadoLibre, Inc. (Brazil)*
|
6,561
|
131,636
|
Prosus NV (China)
|
3,894
|
|
|
14,418
|
CAPITAL MARKETS—1.7%
|
||
204,251
|
Hargreaves Lansdown PLC (United Kingdom)
|
1,971
|
71,200
|
Hong Kong Exchanges & Clearing Ltd. (Hong Kong)
|
2,159
|
|
|
4,130
|
CHEMICALS—2.5%
|
||
18,846
|
Air Liquide SA (France)
|
3,526
|
334,900
|
Nippon Paint Holdings Co. Ltd. (Japan)
|
2,638
|
|
|
6,164
|
CONSUMER STAPLES DISTRIBUTION & RETAIL—5.1%
|
||
27,100
|
Cosmos Pharmaceutical Corp. (Japan)
|
2,911
|
158,820
|
Jeronimo Martins SGPS SA (Portugal)
|
3,612
|
658,387
|
Raia Drogasil SA (Brazil)
|
3,362
|
591,104
|
Wal-Mart de Mexico SAB de CV (Mexico)
|
2,442
|
|
|
12,327
|
ELECTRICAL EQUIPMENT—0.5%
|
||
55,700
|
Contemporary Amperex Technology Co. Ltd. Class A (China)
|
1,177
|
ELECTRONIC EQUIPMENT, INSTRUMENTS & COMPONENTS—2.9%
|
||
7,340
|
Keyence Corp. (Japan)
|
3,284
|
189,480
|
Murata Manufacturing Co. Ltd. (Japan)
|
3,826
|
|
|
7,110
|
ENTERTAINMENT—1.5%
|
||
16,783
|
Spotify Technology SA (United States)*
|
3,614
|
FINANCIAL SERVICES—6.1%
|
||
2,399
|
Adyen NV (Netherlands)*,2
|
3,009
|
35,988
|
EXOR NV (Netherlands)
|
3,482
|
225,028
|
Investor AB Class B (Sweden)
|
5,298
|
110,427
|
Jio Financial Services Ltd. (India)*
|
330
|
267,672
|
Wise PLC Class A (United Kingdom)*
|
2,730
|
|
|
14,849
|
GROUND TRANSPORTATION—1.3%
|
||
38,174
|
Canadian Pacific Kansas City Ltd. (Canada)
|
3,072
|
HEALTH CARE EQUIPMENT & SUPPLIES—3.5%
|
||
8,168
|
Cochlear Ltd. (Australia)
|
1,621
|
258,380
|
Olympus Corp. (Japan)
|
3,825
|
COMMON STOCKS—Continued
|
||
Shares
|
|
Value
|
HEALTH CARE EQUIPMENT & SUPPLIES—Continued
|
||
56,840
|
Sysmex Corp. (Japan)
|
$3,079
|
|
|
8,525
|
HOTELS, RESTAURANTS & LEISURE—1.8%
|
||
40,186
|
MakeMyTrip Ltd. (India)*
|
2,226
|
510,755
|
Trainline PLC (United Kingdom)*,2
|
2,137
|
|
|
4,363
|
HOUSEHOLD PRODUCTS—1.1%
|
||
79,200
|
Unicharm Corp. (Japan)
|
2,725
|
INSURANCE—1.9%
|
||
405,360
|
AIA Group Ltd. (Hong Kong)
|
3,179
|
315,600
|
Ping An Insurance Group Co. of China Ltd. Class H (China)
|
1,327
|
|
|
4,506
|
INTERACTIVE MEDIA & SERVICES—4.4%
|
||
579,787
|
Auto Trader Group PLC (United Kingdom)2
|
5,334
|
562,200
|
LY Corp. (Japan)
|
1,749
|
525,630
|
Rightmove PLC (United Kingdom)
|
3,720
|
|
|
10,803
|
IT SERVICES—2.3%
|
||
71,083
|
Shopify, Inc. Class A (Canada)*
|
5,692
|
LEISURE PRODUCTS—2.2%
|
||
24,235
|
Games Workshop Group PLC (United Kingdom)
|
3,036
|
16,980
|
Shimano, Inc. (Japan)
|
2,438
|
|
|
5,474
|
LIFE SCIENCES TOOLS & SERVICES—3.5%
|
||
8,036
|
Lonza Group AG (Switzerland)
|
3,929
|
3,784
|
Mettler-Toledo International, Inc. (United States)*
|
4,530
|
|
|
8,459
|
MACHINERY—8.5%
|
||
395,744
|
Atlas Copco AB Class A (Sweden)
|
6,316
|
183,760
|
Epiroc AB Class B (Sweden)
|
2,865
|
8,480
|
SMC Corp. (Japan)
|
4,720
|
341,800
|
Techtronic Industries Co. Ltd. (Hong Kong)
|
3,630
|
135,942
|
Weir Group PLC (United Kingdom)
|
3,125
|
|
|
20,656
|
METALS & MINING—0.8%
|
||
67,609
|
BHP Group Ltd. (Australia)
|
2,068
|
OIL, GAS & CONSUMABLE FUELS—1.4%
|
||
99,151
|
Reliance Industries Ltd. (India)
|
3,403
|
PASSENGER AIRLINES—1.0%
|
||
19,089
|
Ryanair Holdings PLC ADR (Italy)1
|
2,550
|
PERSONAL CARE PRODUCTS—1.8%
|
||
27,740
|
Kao Corp. (Japan)
|
1,097
|
116,620
|
Shiseido Co. Ltd. (Japan)
|
3,251
|
|
|
4,348
|
PROFESSIONAL SERVICES—4.4%
|
||
735,100
|
Centre Testing International Group Co. Ltd. Class A (China)
|
1,203
|
111,904
|
Experian PLC (United Kingdom)
|
4,658
|
37,414
|
Intertek Group PLC (United Kingdom)
|
2,124
|
69,100
|
Recruit Holdings Co. Ltd. (Japan)
|
2,729
|
|
|
10,714
|
SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT—10.2%
|
||
9,067
|
ASML Holding NV (Netherlands)
|
7,866
|
⬤
39
Harbor International Growth Fund
PORTFOLIO OF INVESTMENTS—Continued
Value and Cost in Thousands
COMMON STOCKS—Continued
|
||
Shares
|
|
Value
|
SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT—Continued
|
||
91,000
|
Silergy Corp. (China)
|
$1,120
|
7,874
|
SOITEC (France)*
|
1,138
|
97,918
|
Taiwan Semiconductor Manufacturing Co. Ltd. ADR (Taiwan)1
|
11,061
|
19,300
|
Tokyo Electron Ltd. (Japan)
|
3,582
|
|
|
24,767
|
SOFTWARE—3.1%
|
||
29,111
|
Nemetschek SE (Germany)
|
2,686
|
22,906
|
Topicus.com, Inc. (Netherlands)*
|
1,772
|
41,624
|
Xero Ltd. (New Zealand)*
|
2,979
|
|
|
7,437
|
TEXTILES, APPAREL & LUXURY GOODS—6.0%
|
||
6,950
|
adidas AG (Germany)
|
1,312
|
89,251
|
Burberry Group PLC (United Kingdom)
|
1,470
|
32,792
|
Cie Financiere Richemont SA Class A (Switzerland)
|
4,871
|
4,427
|
Kering SA (France)
|
1,818
|
324,400
|
Li Ning Co. Ltd. (China)
|
693
|
5,206
|
LVMH Moet Hennessy Louis Vuitton SE (France)
|
4,332
|
|
|
14,496
|
COMMON STOCKS—Continued
|
||
Shares
|
|
Value
|
TRADING COMPANIES & DISTRIBUTORS—2.6%
|
||
45,930
|
Ashtead Group PLC (United Kingdom)
|
$3,003
|
21,839
|
IMCD NV (Netherlands)
|
3,334
|
|
|
6,337
|
TOTAL COMMON STOCKS
(Cost $176,615)
|
$237,928
|
PREFERRED STOCKS—1.9%
|
||
|
|
|
(Cost $1,258)
|
||
LIFE SCIENCES TOOLS & SERVICES—1.9%
|
||
12,400
|
Sartorius AG (Germany)
|
4,524
|
TOTAL INVESTMENTS—99.7%
(Cost $177,873)
|
242,452
|
|
CASH AND OTHER ASSETS, LESS LIABILITIES—0.3%
|
697
|
|
TOTAL NET ASSETS—100%
|
$243,149
|
FAIR VALUE MEASUREMENTS
The following table summarizes the Fund’s investments as of January 31, 2024 based on the inputs used to value them.
Asset Category
|
Quoted Prices
Level 1
(000s)
|
Other Significant
Observable Inputs
Level 2
(000s)
|
Significant
Unobservable
Inputs
Level 3
(000s)
|
Total
(000s)
|
Common Stocks
|
|
|
|
|
Europe
|
$4,322
|
$100,970
|
$—
|
$105,292
|
Latin America
|
15,354
|
—
|
—
|
15,354
|
Middle East/Central Asia
|
3,466
|
9,289
|
—
|
12,755
|
North America
|
16,908
|
—
|
—
|
16,908
|
Pacific Basin
|
11,061
|
76,558
|
—
|
87,619
|
Preferred Stocks
|
|
|
|
|
Europe
|
—
|
4,524
|
—
|
4,524
|
Total Investments in Securities
|
$51,111
|
$191,341
|
$—
|
$242,452
|
For more information on valuation inputs and their aggregation into the levels identified above, please refer to the Fair
Value Measurements and Disclosures in Note 2 of the accompanying Notes to Portfolios of Investments.
*
Non-income producing security
1
Depositary receipts such as American Depositary Receipts (ADRs), Global Depositary Receipts (GDRs) and other country specific
depositary receipts are certificates evidencing ownership of shares of a foreign issuer. These certificates are issued by depositary
banks and generally trade on an established market in the U.S. or elsewhere.
2
Securities purchased in a transaction exempt from registration under Rule 144A of the Securities Act of 1933. These securities
may be resold in transactions exempt from registration, normally to qualified institutional buyers. The Fund has no right to demand registration
of these securities. As of January 31, 2024, the aggregate value of these securities was $10,480 or 4% of net assets.
The accompanying notes are an integral part of the Portfolios of Investments.
⬤
40
Harbor International Small Cap Fund
PORTFOLIO OF INVESTMENTS—January 31, 2024 (Unaudited)
Value and Cost in Thousands
COMMON STOCKS—98.5%
|
||
Shares
|
|
Value
|
AIR FREIGHT & LOGISTICS—3.2%
|
||
166,177
|
Sankyu, Inc. (Japan)
|
$6,212
|
13,969,817
|
Singapore Post Ltd. (Singapore)
|
4,264
|
|
|
10,476
|
AUTOMOBILE COMPONENTS—1.0%
|
||
2,560,730
|
Johnson Electric Holdings Ltd. (Hong Kong)
|
3,358
|
BANKS—1.4%
|
||
2,383,787
|
Virgin Money U.K. PLC (United Kingdom)
|
4,708
|
BEVERAGES—1.0%
|
||
1,745,278
|
C&C Group PLC (Ireland)
|
3,388
|
BUILDING PRODUCTS—2.7%
|
||
1,137,091
|
Genuit Group PLC (United Kingdom)
|
6,081
|
1,026,699
|
Reliance Worldwide Corp. Ltd. (United States)
|
2,807
|
|
|
8,888
|
CAPITAL MARKETS—1.9%
|
||
2,558,058
|
TP ICAP Group PLC (United Kingdom)
|
6,061
|
CHEMICALS—2.5%
|
||
12,643
|
Solvay SA (Belgium)
|
346
|
198,447
|
Tosoh Corp. (Japan)
|
2,559
|
302,780
|
Victrex PLC (United Kingdom)
|
5,213
|
|
|
8,118
|
COMMERCIAL SERVICES & SUPPLIES—5.5%
|
||
326,906
|
ISS AS (Denmark)
|
6,186
|
192,169
|
Loomis AB (Sweden)
|
5,261
|
3,018,668
|
Serco Group PLC (United Kingdom)
|
6,587
|
|
|
18,034
|
CONSTRUCTION & ENGINEERING—1.8%
|
||
409,358
|
Raito Kogyo Co. Ltd. (Japan)
|
5,722
|
CONSUMER FINANCE—1.7%
|
||
72,669
|
Cembra Money Bank AG (Switzerland)
|
5,603
|
CONSUMER STAPLES DISTRIBUTION & RETAIL—1.5%
|
||
400,458
|
Qol Holdings Co. Ltd. (Japan)
|
4,808
|
CONTAINERS & PACKAGING—5.3%
|
||
473,648
|
Fuji Seal International, Inc. (Japan)
|
5,586
|
150,216
|
Huhtamaki OYJ (Finland)
|
5,896
|
562,681
|
Transcontinental, Inc. Class A (Canada)
|
5,662
|
|
|
17,144
|
DISTRIBUTORS—4.9%
|
||
1,352,089
|
Bapcor Ltd. (Australia)
|
4,949
|
670,987
|
Inchcape PLC (United Kingdom)
|
5,778
|
171,348
|
PALTAC Corp. (Japan)
|
5,217
|
|
|
15,944
|
ELECTRICAL EQUIPMENT—1.5%
|
||
131,146
|
Mersen SA (France)
|
4,757
|
ELECTRONIC EQUIPMENT, INSTRUMENTS & COMPONENTS—7.6%
|
||
486,699
|
Anritsu Corp. (Japan)
|
3,854
|
63,640
|
Landis & Gyr Group AG (Switzerland)
|
5,218
|
398,767
|
Optex Group Co. Ltd. (Japan)
|
4,952
|
456,653
|
Topcon Corp. (Japan)
|
5,247
|
554,490
|
Venture Corp. Ltd. (Singapore)
|
5,524
|
|
|
24,795
|
FINANCIAL SERVICES—1.4%
|
||
855,091
|
Illimity Bank SpA (Italy)*
|
4,717
|
COMMON STOCKS—Continued
|
||
Shares
|
|
Value
|
FOOD PRODUCTS—6.0%
|
||
147,215
|
Ariake Japan Co. Ltd. (Japan)
|
$4,721
|
2,672,712
|
Aryzta AG (Switzerland)*
|
4,797
|
215,943
|
AustAsia Group Ltd. (China)*
|
39
|
982,162
|
Elders Ltd. (Australia)
|
5,738
|
245,102
|
Glanbia PLC (Ireland)
|
4,389
|
|
|
19,684
|
GAS UTILITIES—1.7%
|
||
218,797
|
Rubis SCA (France)
|
5,533
|
GROUND TRANSPORTATION—1.5%
|
||
1,115,063
|
Redde Northgate PLC (United Kingdom)
|
5,007
|
HEALTH CARE EQUIPMENT & SUPPLIES—6.4%
|
||
313,504
|
Ansell Ltd. (Australia)
|
4,931
|
1,307,358
|
Arjo AB Class B (Sweden)
|
6,119
|
393,960
|
Eiken Chemical Co. Ltd. (Japan)
|
4,910
|
109,720
|
Jeol Ltd. (Japan)
|
5,016
|
|
|
20,976
|
HEALTH CARE PROVIDERS & SERVICES—1.4%
|
||
247,255
|
Fagron (Belgium)
|
4,452
|
HOTELS, RESTAURANTS & LEISURE—1.9%
|
||
358,871
|
Resorttrust, Inc. (Japan)
|
6,238
|
INSURANCE—6.0%
|
||
128,921
|
ASR Nederland NV (Netherlands)
|
6,076
|
418,156
|
Coface SA (France)
|
5,650
|
1,440,501
|
Direct Line Insurance Group PLC (United Kingdom)*
|
3,074
|
2,243,858
|
Mapfre SA (Spain)
|
4,941
|
|
|
19,741
|
IT SERVICES—1.8%
|
||
248,790
|
TietoEVRY OYJ (Finland)
|
5,773
|
LEISURE PRODUCTS—1.9%
|
||
239,689
|
Spin Master Corp. (Canada)1
|
6,165
|
MACHINERY—9.2%
|
||
191,468
|
Construcciones y Auxiliar de Ferrocarriles SA (Spain)
|
6,881
|
660,241
|
Husqvarna AB Class B (Sweden)
|
5,136
|
372,226
|
METAWATER Co. Ltd. (Japan)
|
5,425
|
1,009,813
|
Morgan Advanced Materials PLC (United Kingdom)
|
3,458
|
237,540
|
Nabtesco Corp. (Japan)
|
4,566
|
274,482
|
Norma Group SE (Germany)
|
4,464
|
|
|
29,930
|
MEDIA—3.0%
|
||
189,697
|
Criteo SA ADR (France)*,2
|
4,919
|
130,704
|
RTL Group SA (Luxembourg)
|
5,023
|
|
|
9,942
|
PERSONAL CARE PRODUCTS—1.7%
|
||
703,653
|
Ontex Group NV (Belgium)*
|
5,560
|
PROFESSIONAL SERVICES—1.8%
|
||
271,776
|
Tinexta SpA (Italy)
|
5,747
|
REAL ESTATE MANAGEMENT & DEVELOPMENT—1.2%
|
||
3,001,200
|
ESR Group Ltd. (China)1
|
3,836
|
SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT—1.5%
|
||
511,701
|
X-FAB Silicon Foundries SE (Belgium)*,1
|
4,926
|
SOFTWARE—3.0%
|
||
422,140
|
Computer Engineering & Consulting Ltd. (Japan)
|
4,677
|
⬤
41
Harbor International Small Cap Fund
PORTFOLIO OF INVESTMENTS—Continued
Value and Cost in Thousands
COMMON STOCKS—Continued
|
||
Shares
|
|
Value
|
SOFTWARE—Continued
|
||
759,347
|
TomTom NV (Netherlands)*
|
$5,141
|
|
|
9,818
|
TEXTILES, APPAREL & LUXURY GOODS—1.7%
|
||
6,188,862
|
Coats Group PLC (United Kingdom)
|
5,623
|
TRADING COMPANIES & DISTRIBUTORS—1.9%
|
||
826,857
|
BOC Aviation Ltd. (China)1
|
6,199
|
TOTAL COMMON STOCKS
(Cost $319,351)
|
321,671
|
|
TOTAL INVESTMENTS—98.5%
(Cost $319,351)
|
321,671
|
|
CASH AND OTHER ASSETS, LESS LIABILITIES—1.5%
|
4,900
|
|
TOTAL NET ASSETS—100%
|
$326,571
|
FAIR VALUE MEASUREMENTS
The following table summarizes the Fund’s investments as of January 31, 2024 based on the inputs used to value them.
Asset Category
|
Quoted Prices
Level 1
(000s)
|
Other Significant
Observable Inputs
Level 2
(000s)
|
Significant
Unobservable
Inputs
Level 3
(000s)
|
Total
(000s)
|
Common Stocks
|
|
|
|
|
Europe
|
$6,395
|
$182,094
|
$—
|
$188,489
|
North America
|
11,828
|
2,807
|
—
|
14,635
|
Pacific Basin
|
—
|
118,547
|
—
|
118,547
|
Total Investments in Securities
|
$18,223
|
$303,448
|
$—
|
$321,671
|
For more information on valuation inputs and their aggregation into the levels identified above, please refer to the Fair
Value Measurements and Disclosures in Note 2 of the accompanying Notes to Portfolios of Investments.
*
Non-income producing security
1
Securities purchased in a transaction exempt from registration under Rule 144A of the Securities Act of 1933. These securities
may be resold in transactions exempt from registration, normally to qualified institutional buyers. The Fund has no right to demand registration
of these securities. As of January 31, 2024, the aggregate value of these securities was $21,126 or 6% of net assets.
2
Depositary receipts such as American Depositary Receipts (ADRs), Global Depositary Receipts (GDRs) and other country specific
depositary receipts are certificates evidencing ownership of shares of a foreign issuer. These certificates are issued by depositary
banks and generally trade on an established market in the U.S. or elsewhere.
The accompanying notes are an integral part of the Portfolios of Investments.
⬤
42
Harbor Large Cap Value Fund
PORTFOLIO OF INVESTMENTS—January 31, 2024 (Unaudited)
Value and Cost in Thousands
COMMON STOCKS—97.6%
|
||
Shares
|
|
Value
|
AEROSPACE & DEFENSE—2.1%
|
||
149,600
|
General Dynamics Corp.
|
$39,643
|
AUTOMOBILE COMPONENTS—1.8%
|
||
2,088,800
|
Cie Generale des Etablissements Michelin SCA ADR (France)1
|
34,632
|
BANKS—8.1%
|
||
365,100
|
Commerce Bancshares, Inc.
|
19,029
|
263,200
|
Cullen/Frost Bankers, Inc.
|
27,931
|
3,235,000
|
Mitsubishi UFJ Financial Group, Inc. ADR (Japan)1
|
30,247
|
232,600
|
PNC Financial Services Group, Inc.
|
35,171
|
1,044,500
|
U.S. Bancorp
|
43,389
|
|
|
155,767
|
BEVERAGES—3.9%
|
||
680,000
|
Coca-Cola Co.
|
40,453
|
140,000
|
Constellation Brands, Inc. Class A
|
34,311
|
|
|
74,764
|
BIOTECHNOLOGY—2.8%
|
||
171,000
|
Amgen, Inc.
|
53,738
|
CAPITAL MARKETS—5.4%
|
||
148,000
|
Ameriprise Financial, Inc.
|
57,251
|
373,000
|
Blackstone, Inc.
|
46,420
|
|
|
103,671
|
CHEMICALS—6.9%
|
||
1,084,000
|
Corteva, Inc.
|
49,300
|
211,800
|
Ecolab, Inc.
|
41,983
|
394,000
|
RPM International, Inc.
|
42,024
|
|
|
133,307
|
COMMERCIAL SERVICES & SUPPLIES—0.2%
|
||
60,000
|
Veralto Corp.
|
4,601
|
CONSTRUCTION MATERIALS—3.2%
|
||
123,000
|
Martin Marietta Materials, Inc.
|
62,536
|
CONSUMER FINANCE—2.6%
|
||
378,300
|
Capital One Financial Corp.
|
51,192
|
CONSUMER STAPLES DISTRIBUTION & RETAIL—2.0%
|
||
475,000
|
Sysco Corp.
|
38,442
|
ELECTRIC UTILITIES—1.9%
|
||
626,000
|
Xcel Energy, Inc.
|
37,479
|
ELECTRONIC EQUIPMENT, INSTRUMENTS & COMPONENTS—2.0%
|
||
92,000
|
Teledyne Technologies, Inc. *
|
38,499
|
GAS UTILITIES—2.3%
|
||
383,000
|
Atmos Energy Corp.
|
43,639
|
HEALTH CARE EQUIPMENT & SUPPLIES—3.6%
|
||
497,000
|
Alcon, Inc. (Switzerland)
|
37,330
|
371,000
|
Medtronic PLC
|
32,477
|
|
|
69,807
|
COMMON STOCKS—Continued
|
||
Shares
|
|
Value
|
HOUSEHOLD DURABLES—6.0%
|
||
444,000
|
Lennar Corp. Class A
|
$66,533
|
7,126
|
Lennar Corp. Class B
|
989
|
494,000
|
Sony Group Corp. ADR (Japan)1
|
48,289
|
|
|
115,811
|
HOUSEHOLD PRODUCTS—2.0%
|
||
252,000
|
Procter & Gamble Co.
|
39,599
|
INDUSTRIAL CONGLOMERATES—2.1%
|
||
203,700
|
Honeywell International, Inc.
|
41,200
|
LIFE SCIENCES TOOLS & SERVICES—2.4%
|
||
193,000
|
Danaher Corp.
|
46,303
|
MACHINERY—7.3%
|
||
261,700
|
Oshkosh Corp.
|
28,813
|
146,500
|
Parker-Hannifin Corp.
|
68,049
|
383,000
|
Xylem, Inc.
|
43,065
|
|
|
139,927
|
OIL, GAS & CONSUMABLE FUELS—4.3%
|
||
1,544,000
|
Coterra Energy, Inc.
|
38,414
|
306,900
|
Phillips 66
|
44,289
|
|
|
82,703
|
PHARMACEUTICALS—2.6%
|
||
410,000
|
Merck & Co., Inc.
|
49,520
|
RESIDENTIAL REITS—1.7%
|
||
480,000
|
Equity LifeStyle Properties, Inc.
|
32,491
|
SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT—5.3%
|
||
632,000
|
Microchip Technology, Inc.
|
53,834
|
322,000
|
QUALCOMM, Inc.
|
47,820
|
|
|
101,654
|
SOFTWARE—13.6%
|
||
115,000
|
Adobe, Inc. *
|
71,045
|
162,000
|
ANSYS, Inc. *
|
53,108
|
195,000
|
Autodesk, Inc. *
|
49,493
|
223,200
|
Microsoft Corp.
|
88,740
|
|
|
262,386
|
SPECIALIZED REITS—1.5%
|
||
261,200
|
Crown Castle, Inc.
|
28,275
|
TOTAL COMMON STOCKS
(Cost $1,176,126)
|
1,881,586
|
|
TOTAL INVESTMENTS—97.6%
(Cost $1,176,126)
|
1,881,586
|
|
CASH AND OTHER ASSETS, LESS LIABILITIES—2.4%
|
45,615
|
|
TOTAL NET ASSETS—100%
|
$1,927,201
|
⬤
43
Harbor Large Cap Value Fund
PORTFOLIO OF INVESTMENTS—Continued
FAIR VALUE MEASUREMENTS
All investments as of January 31, 2024 (as disclosed in the preceding Portfolio of Investments) were classified as Level 1.
For more information on valuation inputs and their aggregation into the levels identified above, please refer to the Fair Value Measurements and Disclosures in Note 2 of the accompanying Notes to Portfolios of Investments.
For more information on valuation inputs and their aggregation into the levels identified above, please refer to the Fair Value Measurements and Disclosures in Note 2 of the accompanying Notes to Portfolios of Investments.
*
Non-income producing security
1
Depositary receipts such as American Depositary Receipts (ADRs), Global Depositary Receipts (GDRs) and other country specific
depositary receipts are certificates evidencing ownership of shares of a foreign issuer. These certificates are issued by depositary
banks and generally trade on an established market in the U.S. or elsewhere.
The accompanying notes are an integral part of the Portfolios of Investments.
⬤
44
Harbor Mid Cap Fund
PORTFOLIO OF INVESTMENTS—January 31, 2024 (Unaudited)
Value and Cost in Thousands
COMMON STOCKS—97.9%
|
||
Shares
|
|
Value
|
AEROSPACE & DEFENSE—6.3%
|
||
8,445
|
General Dynamics Corp.
|
$2,238
|
23,014
|
Hexcel Corp.
|
1,528
|
78,967
|
Spirit AeroSystems Holdings, Inc. Class A*
|
2,168
|
15,178
|
Woodward, Inc.
|
2,091
|
|
|
8,025
|
BANKS—1.4%
|
||
126,012
|
KeyCorp
|
1,831
|
BUILDING PRODUCTS—2.5%
|
||
47,305
|
Masco Corp.
|
3,183
|
CAPITAL MARKETS—7.9%
|
||
21,011
|
Houlihan Lokey, Inc.
|
2,517
|
21,040
|
Intercontinental Exchange, Inc.
|
2,679
|
23,304
|
Raymond James Financial, Inc.
|
2,568
|
31,517
|
Stifel Financial Corp.
|
2,299
|
|
|
10,063
|
CHEMICALS—3.5%
|
||
9,606
|
Albemarle Corp.
|
1,102
|
20,953
|
Eastman Chemical Co.
|
1,751
|
28,528
|
Scotts Miracle-Gro Co.
|
1,605
|
|
|
4,458
|
COMMERCIAL SERVICES & SUPPLIES—4.1%
|
||
23,130
|
Republic Services, Inc.
|
3,958
|
25,655
|
Stericycle, Inc. *
|
1,231
|
|
|
5,189
|
COMMUNICATIONS EQUIPMENT—1.3%
|
||
29,921
|
Lumentum Holdings, Inc. *
|
1,644
|
CONSUMER STAPLES DISTRIBUTION & RETAIL—1.5%
|
||
24,320
|
Sysco Corp.
|
1,968
|
CONTAINERS & PACKAGING—2.4%
|
||
9,925
|
Packaging Corp. of America
|
1,646
|
40,920
|
Sealed Air Corp.
|
1,414
|
|
|
3,060
|
ELECTRICAL EQUIPMENT—1.4%
|
||
48,408
|
Sensata Technologies Holding PLC
|
1,751
|
ELECTRONIC EQUIPMENT, INSTRUMENTS & COMPONENTS—3.4%
|
||
15,700
|
Arrow Electronics, Inc. *
|
1,745
|
17,325
|
Keysight Technologies, Inc. *
|
2,655
|
|
|
4,400
|
ENERGY EQUIPMENT & SERVICES—2.0%
|
||
43,880
|
ChampionX Corp.
|
1,203
|
34,506
|
Helmerich & Payne, Inc.
|
1,389
|
|
|
2,592
|
FINANCIAL SERVICES—1.7%
|
||
16,281
|
Global Payments, Inc.
|
2,169
|
GROUND TRANSPORTATION—1.9%
|
||
66,662
|
CSX Corp.
|
2,380
|
HEALTH CARE EQUIPMENT & SUPPLIES—1.3%
|
||
45,912
|
DENTSPLY SIRONA, Inc.
|
1,595
|
HEALTH CARE PROVIDERS & SERVICES—3.6%
|
||
10,592
|
Cencora, Inc.
|
2,465
|
9,577
|
Laboratory Corp. of America Holdings
|
2,129
|
|
|
4,594
|
COMMON STOCKS—Continued
|
||
Shares
|
|
Value
|
HOTELS, RESTAURANTS & LEISURE—2.3%
|
||
17,761
|
Darden Restaurants, Inc.
|
$2,888
|
HOUSEHOLD DURABLES—2.3%
|
||
20,692
|
DR Horton, Inc.
|
2,957
|
INDUSTRIAL REITS—1.4%
|
||
67,156
|
Americold Realty Trust, Inc.
|
1,847
|
INSURANCE—6.3%
|
||
15,787
|
Progressive Corp.
|
2,814
|
16,107
|
Reinsurance Group of America, Inc.
|
2,801
|
10,505
|
RenaissanceRe Holdings Ltd. (Bermuda)
|
2,404
|
|
|
8,019
|
IT SERVICES—2.5%
|
||
25,684
|
Akamai Technologies, Inc. *
|
3,165
|
LIFE SCIENCES TOOLS & SERVICES—3.1%
|
||
17,645
|
Agilent Technologies, Inc.
|
2,295
|
5,281
|
Bio-Rad Laboratories, Inc. Class A*
|
1,695
|
|
|
3,990
|
MACHINERY—5.0%
|
||
7,342
|
Cummins, Inc.
|
1,757
|
14,743
|
Dover Corp.
|
2,208
|
8,358
|
Snap-on, Inc.
|
2,423
|
|
|
6,388
|
MULTI-UTILITIES—1.3%
|
||
20,634
|
WEC Energy Group, Inc.
|
1,666
|
OFFICE REITS—1.2%
|
||
22,549
|
Boston Properties, Inc.
|
1,500
|
OIL, GAS & CONSUMABLE FUELS—2.4%
|
||
80,041
|
Coterra Energy, Inc.
|
1,991
|
28,702
|
Murphy Oil Corp.
|
1,111
|
|
|
3,102
|
PHARMACEUTICALS—1.6%
|
||
39,788
|
Catalent, Inc. *
|
2,055
|
PROFESSIONAL SERVICES—1.7%
|
||
10,621
|
Broadridge Financial Solutions, Inc.
|
2,169
|
REAL ESTATE MANAGEMENT & DEVELOPMENT—2.3%
|
||
34,564
|
CBRE Group, Inc. Class A*
|
2,983
|
SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT—5.6%
|
||
11,985
|
Applied Materials, Inc.
|
1,969
|
27,628
|
Entegris, Inc.
|
3,252
|
18,254
|
Skyworks Solutions, Inc.
|
1,907
|
|
|
7,128
|
SOFTWARE—4.9%
|
||
8,126
|
ANSYS, Inc. *
|
2,664
|
6,733
|
Synopsys, Inc. *
|
3,591
|
|
|
6,255
|
SPECIALIZED REITS—1.5%
|
||
8,300
|
SBA Communications Corp.
|
1,858
|
SPECIALTY RETAIL—3.2%
|
||
19,908
|
TJX Cos., Inc.
|
1,890
|
4,353
|
Ulta Beauty, Inc. *
|
2,185
|
|
|
4,075
|
⬤
45
Harbor Mid Cap Fund
PORTFOLIO OF INVESTMENTS—Continued
Value and Cost in Thousands
COMMON STOCKS—Continued
|
||
Shares
|
|
Value
|
TRADING COMPANIES & DISTRIBUTORS—3.1%
|
||
52,848
|
Air Lease Corp.
|
$2,209
|
14,104
|
GATX Corp.
|
1,730
|
|
|
3,939
|
TOTAL COMMON STOCKS
(Cost $110,752)
|
124,886
|
|
TOTAL INVESTMENTS—97.9%
(Cost $110,752)
|
124,886
|
|
CASH AND OTHER ASSETS, LESS LIABILITIES—2.1%
|
2,696
|
|
TOTAL NET ASSETS—100%
|
$127,582
|
FAIR VALUE MEASUREMENTS
All investments as of January 31, 2024 (as disclosed in the preceding Portfolio of Investments) were classified as Level 1.
For more information on valuation inputs and their aggregation into the levels identified above, please refer to the Fair Value Measurements and Disclosures in Note 2 of the accompanying Notes to Portfolios of Investments.
For more information on valuation inputs and their aggregation into the levels identified above, please refer to the Fair Value Measurements and Disclosures in Note 2 of the accompanying Notes to Portfolios of Investments.
*
Non-income producing security
The accompanying notes are an integral part of the Portfolios of Investments.
⬤
46
Harbor Mid Cap Value Fund
PORTFOLIO OF INVESTMENTS—January 31, 2024 (Unaudited)
Value and Cost in Thousands
COMMON STOCKS—99.2%
|
||
Shares
|
|
Value
|
AEROSPACE & DEFENSE—1.7%
|
||
3,700
|
Huntington Ingalls Industries, Inc.
|
$958
|
6,535
|
Moog, Inc. Class A
|
914
|
34,600
|
Textron, Inc.
|
2,931
|
|
|
4,803
|
AUTOMOBILE COMPONENTS—1.0%
|
||
30,600
|
American Axle & Manufacturing Holdings, Inc. *
|
248
|
36,000
|
BorgWarner, Inc.
|
1,220
|
68,900
|
Goodyear Tire & Rubber Co. *
|
960
|
7,200
|
Phinia, Inc.
|
218
|
|
|
2,646
|
AUTOMOBILES—1.1%
|
||
62,200
|
Harley-Davidson, Inc.
|
2,018
|
9,800
|
Thor Industries, Inc.
|
1,108
|
|
|
3,126
|
BANKS—4.2%
|
||
83,200
|
Citizens Financial Group, Inc.
|
2,721
|
71,500
|
Fifth Third Bancorp
|
2,448
|
114,600
|
KeyCorp
|
1,665
|
147,700
|
Regions Financial Corp.
|
2,758
|
45,500
|
Zions Bancorp NA
|
1,906
|
|
|
11,498
|
BEVERAGES—1.4%
|
||
63,900
|
Molson Coors Beverage Co. Class B
|
3,948
|
BIOTECHNOLOGY—1.8%
|
||
24,900
|
Incyte Corp. *
|
1,463
|
121,700
|
Ironwood Pharmaceuticals, Inc. *
|
1,727
|
8,800
|
United Therapeutics Corp. *
|
1,890
|
|
|
5,080
|
BROADLINE RETAIL—1.2%
|
||
30,000
|
eBay, Inc.
|
1,232
|
20,400
|
Kohl’s Corp.
|
526
|
82,300
|
Macy’s, Inc.
|
1,505
|
|
|
3,263
|
BUILDING PRODUCTS—1.6%
|
||
29,300
|
Owens Corning
|
4,440
|
CAPITAL MARKETS—3.5%
|
||
9,700
|
Ameriprise Financial, Inc.
|
3,752
|
60,800
|
Bank of New York Mellon Corp.
|
3,372
|
34,300
|
State Street Corp.
|
2,534
|
|
|
9,658
|
CHEMICALS—2.0%
|
||
36,300
|
Chemours Co.
|
1,095
|
14,300
|
Eastman Chemical Co.
|
1,195
|
48,500
|
Koppers Holdings, Inc.
|
2,481
|
8,800
|
LyondellBasell Industries NV Class A
|
828
|
|
|
5,599
|
CONSUMER FINANCE—3.4%
|
||
110,800
|
Ally Financial, Inc.
|
4,064
|
10,900
|
Discover Financial Services
|
1,150
|
133,400
|
Navient Corp.
|
2,297
|
46,400
|
Synchrony Financial
|
1,804
|
|
|
9,315
|
CONSUMER STAPLES DISTRIBUTION & RETAIL—3.3%
|
||
9,700
|
Ingles Markets, Inc. Class A
|
817
|
87,900
|
Kroger Co.
|
4,056
|
COMMON STOCKS—Continued
|
||
Shares
|
|
Value
|
CONSUMER STAPLES DISTRIBUTION & RETAIL—Continued
|
||
71,500
|
Sprouts Farmers Market, Inc. *
|
$3,601
|
31,500
|
Walgreens Boots Alliance, Inc.
|
711
|
|
|
9,185
|
CONTAINERS & PACKAGING—2.0%
|
||
33,400
|
Berry Global Group, Inc.
|
2,186
|
21,200
|
Greif, Inc. Class A
|
1,327
|
78,400
|
O-I Glass, Inc. *
|
1,142
|
18,500
|
Silgan Holdings, Inc.
|
850
|
|
|
5,505
|
DIVERSIFIED CONSUMER SERVICES—0.6%
|
||
36,800
|
H&R Block, Inc.
|
1,724
|
DIVERSIFIED REITS—0.4%
|
||
46,900
|
American Assets Trust, Inc.
|
1,052
|
ELECTRIC UTILITIES—1.2%
|
||
62,300
|
NRG Energy, Inc.
|
3,304
|
ELECTRICAL EQUIPMENT—1.8%
|
||
20,200
|
Atkore, Inc. *
|
3,081
|
8,200
|
Encore Wire Corp.
|
1,849
|
|
|
4,930
|
ELECTRONIC EQUIPMENT, INSTRUMENTS & COMPONENTS—4.7%
|
||
23,300
|
Arrow Electronics, Inc. *
|
2,590
|
24,200
|
Avnet, Inc.
|
1,096
|
38,500
|
Jabil, Inc.
|
4,824
|
4,500
|
Methode Electronics, Inc.
|
93
|
31,200
|
Sanmina Corp. *
|
1,866
|
10,300
|
TD SYNNEX Corp.
|
1,030
|
69,800
|
Vishay Intertechnology, Inc.
|
1,517
|
|
|
13,016
|
FINANCIAL SERVICES—3.4%
|
||
79,987
|
Banco Latinoamericano de Comercio Exterior SA (Panama)
|
1,924
|
132,900
|
MGIC Investment Corp.
|
2,637
|
11,800
|
PennyMac Financial Services, Inc.
|
1,029
|
77,000
|
Radian Group, Inc.
|
2,231
|
117,600
|
Western Union Co.
|
1,478
|
|
|
9,299
|
FOOD PRODUCTS—2.3%
|
||
24,900
|
Archer-Daniels-Midland Co.
|
1,384
|
12,100
|
Bunge Global SA
|
1,066
|
47,700
|
Conagra Brands, Inc.
|
1,391
|
23,800
|
Ingredion, Inc.
|
2,560
|
|
|
6,401
|
GAS UTILITIES—1.0%
|
||
37,500
|
National Fuel Gas Co.
|
1,769
|
47,700
|
UGI Corp.
|
1,056
|
|
|
2,825
|
GROUND TRANSPORTATION—1.1%
|
||
26,268
|
Ryder System, Inc.
|
2,983
|
HEALTH CARE PROVIDERS & SERVICES—4.3%
|
||
41,800
|
Cardinal Health, Inc.
|
4,564
|
33,800
|
Centene Corp. *
|
2,545
|
10,500
|
DaVita, Inc. *
|
1,136
|
4,600
|
McKesson Corp.
|
2,300
|
8,200
|
Universal Health Services, Inc. Class B
|
1,302
|
|
|
11,847
|
⬤
47
Harbor Mid Cap Value Fund
PORTFOLIO OF INVESTMENTS—Continued
Value and Cost in Thousands
COMMON STOCKS—Continued
|
||
Shares
|
|
Value
|
HEALTH CARE REITS—1.0%
|
||
114,400
|
Medical Properties Trust, Inc.
|
$355
|
45,700
|
Omega Healthcare Investors, Inc.
|
1,325
|
80,100
|
Sabra Health Care REIT, Inc.
|
1,069
|
|
|
2,749
|
HOTEL & RESORT REITS—0.3%
|
||
102,411
|
Service Properties Trust
|
792
|
HOTELS, RESTAURANTS & LEISURE—0.5%
|
||
56,500
|
Bloomin' Brands, Inc.
|
1,504
|
HOUSEHOLD DURABLES—4.7%
|
||
49,557
|
Ethan Allen Interiors, Inc.
|
1,444
|
11,400
|
Meritage Homes Corp.
|
1,888
|
45,300
|
PulteGroup, Inc.
|
4,736
|
34,500
|
Toll Brothers, Inc.
|
3,427
|
13,300
|
Whirlpool Corp.
|
1,457
|
|
|
12,952
|
INDEPENDENT POWER AND RENEWABLE ELECTRICITY PRODUCERS—1.5%
|
||
102,900
|
Vistra Corp.
|
4,222
|
INSURANCE—7.2%
|
||
37,800
|
Aflac, Inc.
|
3,188
|
9,200
|
American Financial Group, Inc.
|
1,108
|
45,280
|
American International Group, Inc.
|
3,147
|
15,900
|
First American Financial Corp.
|
959
|
54,600
|
Hartford Financial Services Group, Inc.
|
4,748
|
35,800
|
Lincoln National Corp.
|
983
|
129,100
|
Old Republic International Corp.
|
3,620
|
20,900
|
Universal Insurance Holdings, Inc.
|
347
|
37,000
|
Unum Group
|
1,789
|
|
|
19,889
|
IT SERVICES—0.6%
|
||
73,300
|
DXC Technology Co. *
|
1,598
|
LEISURE PRODUCTS—0.6%
|
||
19,500
|
Brunswick Corp.
|
1,573
|
MACHINERY—8.9%
|
||
32,700
|
AGCO Corp.
|
4,000
|
55,400
|
Allison Transmission Holdings, Inc.
|
3,354
|
81,300
|
CNH Industrial NV
|
975
|
17,600
|
Cummins, Inc.
|
4,212
|
66,900
|
Gates Industrial Corp. PLC *
|
862
|
36,600
|
Mueller Industries, Inc.
|
1,757
|
22,600
|
PACCAR, Inc.
|
2,269
|
15,100
|
Snap-on, Inc.
|
4,378
|
22,700
|
Timken Co.
|
1,859
|
70,400
|
Titan International, Inc. *
|
1,039
|
|
|
24,705
|
MEDIA—2.2%
|
||
64,500
|
Fox Corp. Class A
|
2,083
|
15,600
|
Nexstar Media Group, Inc.
|
2,772
|
78,300
|
TEGNA, Inc.
|
1,221
|
|
|
6,076
|
METALS & MINING—0.8%
|
||
7,420
|
Reliance Steel & Aluminum Co.
|
2,118
|
MORTGAGE REAL ESTATE INVESTMENT TRUSTS (REITS)—0.3%
|
||
41,650
|
Annaly Capital Management, Inc.
|
799
|
OFFICE REITS—0.8%
|
||
99,400
|
Brandywine Realty Trust
|
471
|
240,078
|
Franklin Street Properties Corp.
|
590
|
COMMON STOCKS—Continued
|
||
Shares
|
|
Value
|
OFFICE REITS—Continued
|
||
52,750
|
Office Properties Income Trust
|
$194
|
138,248
|
Piedmont Office Realty Trust, Inc. Class A
|
940
|
|
|
2,195
|
OIL, GAS & CONSUMABLE FUELS—5.3%
|
||
48,800
|
APA Corp.
|
1,529
|
5,700
|
Chord Energy Corp.
|
877
|
33,200
|
Devon Energy Corp.
|
1,395
|
42,400
|
HF Sinclair Corp.
|
2,395
|
18,300
|
Marathon Petroleum Corp.
|
3,031
|
19,500
|
Phillips 66
|
2,814
|
13,200
|
Scorpio Tankers, Inc. (Monaco)
|
933
|
10,700
|
Valero Energy Corp.
|
1,486
|
3,636
|
Vitesse Energy, Inc.
|
76
|
|
|
14,536
|
PAPER & FOREST PRODUCTS—0.4%
|
||
20,900
|
Sylvamo Corp.
|
970
|
PASSENGER AIRLINES—1.4%
|
||
36,000
|
Alaska Air Group, Inc. *
|
1,290
|
33,100
|
Delta Air Lines, Inc.
|
1,296
|
31,500
|
United Airlines Holdings, Inc. *
|
1,303
|
|
|
3,889
|
PHARMACEUTICALS—2.1%
|
||
26,800
|
Jazz Pharmaceuticals PLC *
|
3,289
|
13,800
|
Prestige Consumer Healthcare, Inc. *
|
849
|
142,800
|
Viatris, Inc.
|
1,681
|
|
|
5,819
|
PROFESSIONAL SERVICES—1.2%
|
||
27,500
|
ManpowerGroup, Inc.
|
2,039
|
19,800
|
SS&C Technologies Holdings, Inc.
|
1,208
|
|
|
3,247
|
RETAIL REITS—2.5%
|
||
121,600
|
Brixmor Property Group, Inc.
|
2,729
|
12,900
|
Simon Property Group, Inc.
|
1,788
|
95,800
|
SITE Centers Corp.
|
1,276
|
41,000
|
Tanger, Inc.
|
1,103
|
|
|
6,896
|
SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT—1.4%
|
||
78,700
|
Amkor Technology, Inc.
|
2,492
|
45,900
|
Photronics, Inc. *
|
1,341
|
|
|
3,833
|
SOFTWARE—0.6%
|
||
55,300
|
Dropbox, Inc. Class A*
|
1,752
|
SPECIALTY RETAIL—3.1%
|
||
16,400
|
Best Buy Co., Inc.
|
1,189
|
9,500
|
Dick’s Sporting Goods, Inc.
|
1,416
|
27,500
|
Foot Locker, Inc.
|
774
|
6,800
|
Group 1 Automotive, Inc.
|
1,769
|
36,200
|
ODP Corp. *
|
1,851
|
11,200
|
Penske Automotive Group, Inc.
|
1,662
|
|
|
8,661
|
TECHNOLOGY HARDWARE, STORAGE & PERIPHERALS—2.2%
|
||
147,900
|
HP, Inc.
|
4,246
|
93,900
|
Xerox Holdings Corp.
|
1,734
|
|
|
5,980
|
⬤
48
Harbor Mid Cap Value Fund
PORTFOLIO OF INVESTMENTS—Continued
Value and Cost in Thousands
COMMON STOCKS—Continued
|
||
Shares
|
|
Value
|
TEXTILES, APPAREL & LUXURY GOODS—0.6%
|
||
16,000
|
Capri Holdings Ltd. *
|
$780
|
28,100
|
G-III Apparel Group Ltd. *
|
845
|
|
|
1,625
|
TOTAL COMMON STOCKS
(Cost $225,114)
|
273,827
|
|
TOTAL INVESTMENTS—99.2%
(Cost $225,114)
|
273,827
|
|
CASH AND OTHER ASSETS, LESS LIABILITIES—0.8%
|
2,277
|
|
TOTAL NET ASSETS—100%
|
$276,104
|
FAIR VALUE MEASUREMENTS
All investments as of January 31, 2024 (as disclosed in the preceding Portfolio of Investments) were classified as Level 1.
For more information on valuation inputs and their aggregation into the levels identified above, please refer to the Fair Value Measurements and Disclosures in Note 2 of the accompanying Notes to Portfolios of Investments.
For more information on valuation inputs and their aggregation into the levels identified above, please refer to the Fair Value Measurements and Disclosures in Note 2 of the accompanying Notes to Portfolios of Investments.
*
Non-income producing security
The accompanying notes are an integral part of the Portfolios of Investments.
⬤
49
Harbor Small Cap Growth Fund
PORTFOLIO OF INVESTMENTS—January 31, 2024 (Unaudited)
Value and Cost in Thousands
COMMON STOCKS—96.7%
|
||
Shares
|
|
Value
|
AEROSPACE & DEFENSE—1.0%
|
||
190,776
|
Hexcel Corp.
|
$12,666
|
BANKS—1.2%
|
||
153,550
|
Wintrust Financial Corp.
|
14,891
|
BIOTECHNOLOGY—14.0%
|
||
950,090
|
89bio, Inc. *
|
9,406
|
734,287
|
Alkermes PLC *
|
19,862
|
406,580
|
Ascendis Pharma AS ADR (Denmark)*,1
|
52,827
|
416,770
|
Bicycle Therapeutics PLC ADR (United Kingdom)*,1
|
7,273
|
356,290
|
Cerevel Therapeutics Holdings, Inc. *
|
14,928
|
274,309
|
MoonLake Immunotherapeutics *
|
15,328
|
854,223
|
Mural Oncology PLC *
|
3,750
|
773,055
|
Rocket Pharmaceuticals, Inc. *
|
22,210
|
372,021
|
Vaxcyte, Inc. *
|
26,570
|
145,349
|
Xenon Pharmaceuticals, Inc. (Canada)*
|
6,573
|
|
|
178,727
|
BUILDING PRODUCTS—3.4%
|
||
245,830
|
AAON, Inc.
|
17,247
|
664,490
|
AZEK Co., Inc. *
|
25,623
|
|
|
42,870
|
CHEMICALS—3.4%
|
||
545,950
|
Avient Corp.
|
19,769
|
724,980
|
Axalta Coating Systems Ltd. *
|
23,504
|
|
|
43,273
|
COMMERCIAL SERVICES & SUPPLIES—2.3%
|
||
341,440
|
Casella Waste Systems, Inc. Class A*
|
29,138
|
COMMUNICATIONS EQUIPMENT—3.0%
|
||
234,200
|
Calix, Inc. *
|
7,771
|
86,043
|
F5, Inc. *
|
15,806
|
257,910
|
Lumentum Holdings, Inc. *
|
14,169
|
|
|
37,746
|
CONSTRUCTION & ENGINEERING—3.5%
|
||
104,580
|
Comfort Systems USA, Inc.
|
22,743
|
458,429
|
WillScot Mobile Mini Holdings Corp. *
|
21,684
|
|
|
44,427
|
ELECTRICAL EQUIPMENT—1.8%
|
||
210,940
|
NEXTracker, Inc. Class A*
|
9,549
|
363,370
|
Sensata Technologies Holding PLC
|
13,143
|
|
|
22,692
|
ELECTRONIC EQUIPMENT, INSTRUMENTS & COMPONENTS—4.1%
|
||
120,310
|
Fabrinet (Thailand)*
|
25,688
|
144,020
|
Insight Enterprises, Inc. *
|
26,606
|
|
|
52,294
|
ENERGY EQUIPMENT & SERVICES—2.2%
|
||
407,030
|
ChampionX Corp.
|
11,157
|
1,566,236
|
Patterson-UTI Energy, Inc.
|
17,369
|
|
|
28,526
|
FINANCIAL SERVICES—5.6%
|
||
877,638
|
Flywire Corp. *
|
18,755
|
1,308,596
|
Marqeta, Inc. Class A*
|
7,865
|
335,680
|
Shift4 Payments, Inc. Class A*
|
24,105
|
103,471
|
WEX, Inc. *
|
21,148
|
|
|
71,873
|
GROUND TRANSPORTATION—1.7%
|
||
49,350
|
Saia, Inc. *
|
22,236
|
COMMON STOCKS—Continued
|
||
Shares
|
|
Value
|
HEALTH CARE EQUIPMENT & SUPPLIES—5.9%
|
||
323,380
|
Haemonetics Corp. *
|
$24,726
|
81,090
|
Inspire Medical Systems, Inc. *
|
17,100
|
147,783
|
iRhythm Technologies, Inc. *
|
17,701
|
316,620
|
Lantheus Holdings, Inc. *
|
16,442
|
|
|
75,969
|
HEALTH CARE PROVIDERS & SERVICES—2.3%
|
||
948,317
|
Option Care Health, Inc. *
|
29,625
|
HOTELS, RESTAURANTS & LEISURE—4.9%
|
||
171,722
|
Churchill Downs, Inc.
|
20,773
|
126,300
|
Texas Roadhouse, Inc.
|
15,878
|
91,290
|
Wingstop, Inc.
|
25,663
|
|
|
62,314
|
HOUSEHOLD DURABLES—4.7%
|
||
216,033
|
M/I Homes, Inc. *
|
27,527
|
196,537
|
Meritage Homes Corp.
|
32,548
|
|
|
60,075
|
INDUSTRIAL REITS—2.3%
|
||
295,350
|
Rexford Industrial Realty, Inc.
|
15,532
|
364,260
|
STAG Industrial, Inc.
|
13,456
|
|
|
28,988
|
INSURANCE—4.8%
|
||
73,254
|
Kinsale Capital Group, Inc.
|
29,124
|
203,286
|
Palomar Holdings, Inc. *
|
12,171
|
84,422
|
Primerica, Inc.
|
19,768
|
|
|
61,063
|
LEISURE PRODUCTS—0.2%
|
||
49,691
|
BRP, Inc.
|
3,136
|
LIFE SCIENCES TOOLS & SERVICES—1.2%
|
||
49,499
|
Bio-Rad Laboratories, Inc. Class A*
|
15,884
|
MACHINERY—4.8%
|
||
291,364
|
ITT, Inc.
|
35,191
|
119,430
|
Lincoln Electric Holdings, Inc.
|
26,540
|
|
|
61,731
|
OIL, GAS & CONSUMABLE FUELS—1.8%
|
||
705,480
|
Northern Oil & Gas, Inc.
|
23,634
|
PHARMACEUTICALS—2.1%
|
||
429,400
|
Cymabay Therapeutics, Inc. *
|
10,095
|
1,019,980
|
Innoviva, Inc. *
|
16,524
|
|
|
26,619
|
PROFESSIONAL SERVICES—1.7%
|
||
318,838
|
WNS Holdings Ltd. ADR (India)*,1
|
22,111
|
SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT—4.0%
|
||
82,803
|
Camtek Ltd. (Israel)*
|
6,446
|
55,506
|
Ichor Holdings Ltd. *
|
2,009
|
150,446
|
Impinj, Inc. *
|
14,590
|
84,104
|
Kulicke & Soffa Industries, Inc. (Singapore)
|
4,232
|
87,743
|
Nova Ltd. (Israel)*
|
12,706
|
67,796
|
Universal Display Corp.
|
11,510
|
|
|
51,493
|
SOFTWARE—8.0%
|
||
1,211,551
|
CCC Intelligent Solutions Holdings, Inc. *
|
13,315
|
323,490
|
Dynatrace, Inc. *
|
18,439
|
833,549
|
Samsara, Inc. Class A*
|
26,173
|
625,050
|
Smartsheet, Inc. Class A*
|
28,108
|
⬤
50
Harbor Small Cap Growth Fund
PORTFOLIO OF INVESTMENTS—Continued
Value and Cost in Thousands
COMMON STOCKS—Continued
|
||
Shares
|
|
Value
|
SOFTWARE—Continued
|
||
331,690
|
Tenable Holdings, Inc. *
|
$15,623
|
|
|
101,658
|
TECHNOLOGY HARDWARE, STORAGE & PERIPHERALS—0.8%
|
||
20,386
|
Super Micro Computer, Inc. *
|
10,797
|
TOTAL COMMON STOCKS
(Cost $1,032,022)
|
1,236,456
|
|
TOTAL INVESTMENTS—96.7%
(Cost $1,032,022)
|
1,236,456
|
|
CASH AND OTHER ASSETS, LESS LIABILITIES—3.3%
|
41,998
|
|
TOTAL NET ASSETS—100%
|
$1,278,454
|
FAIR VALUE MEASUREMENTS
All investments as of January 31, 2024 (as disclosed in the preceding Portfolio of Investments) were classified as Level 1.
For more information on valuation inputs and their aggregation into the levels identified above, please refer to the Fair Value Measurements and Disclosures in Note 2 of the accompanying Notes to Portfolios of Investments.
For more information on valuation inputs and their aggregation into the levels identified above, please refer to the Fair Value Measurements and Disclosures in Note 2 of the accompanying Notes to Portfolios of Investments.
The following is a rollforward of the Fund’s Level 3 investments during the period ended January 31, 2024. Transfers into or out of Level 3, if any, are recognized as of the last day in the fiscal quarter of the period in which the event or change in circumstances that caused the reclassification
occurred.
Valuation
Description
|
Beginning
Balance
as of 11/01/2023
(000s)
|
Purchases
(000s)
|
Sales
(000s)
|
Discount/
(Premium)
(000s)
|
Total
Realized
Gain/(Loss)
(000s)
|
Change in
Unrealized
Appreciation/
(Depreciation)
(000s)
|
Transfers
Into
Level 3
(000s)
|
Transfers
Out of
Level 3
(000s)
|
Ending
Balance
as of
01/31/2024
(000s)
|
Unrealized
Gain/(Loss)
as of
01/31/2024
(000s)
|
Common Stock
|
$6,370
|
$203
|
$(11,573
)
|
$—
|
$2,258
|
$2,742
|
$—
|
$—
|
$—
|
$—
|
*
Non-income producing security
1
Depositary receipts such as American Depositary Receipts (ADRs), Global Depositary Receipts (GDRs) and other country specific
depositary receipts are certificates evidencing ownership of shares of a foreign issuer. These certificates are issued by depositary
banks and generally trade on an established market in the U.S. or elsewhere.
The accompanying notes are an integral part of the Portfolios of Investments.
⬤
51
Harbor Small Cap Value Fund
PORTFOLIO OF INVESTMENTS—January 31, 2024 (Unaudited)
Value and Cost in Thousands
COMMON STOCKS—97.8%
|
||
Shares
|
|
Value
|
AEROSPACE & DEFENSE—6.6%
|
||
743,816
|
AAR Corp. *
|
$45,239
|
725,837
|
Hexcel Corp.
|
48,188
|
308,211
|
Moog, Inc. Class A
|
43,088
|
|
|
136,515
|
BANKS—12.2%
|
||
754,603
|
Enterprise Financial Services Corp.
|
31,414
|
1,034,561
|
First Merchants Corp.
|
34,978
|
745,357
|
Heartland Financial USA, Inc.
|
26,438
|
555,807
|
SouthState Corp.
|
46,188
|
1,329,416
|
Trustmark Corp.
|
35,881
|
1,071,033
|
United Bankshares, Inc.
|
38,397
|
1,413,147
|
United Community Banks, Inc.
|
38,635
|
|
|
251,931
|
CAPITAL MARKETS—5.3%
|
||
626,182
|
Houlihan Lokey, Inc.
|
75,004
|
460,776
|
Stifel Financial Corp.
|
33,614
|
|
|
108,618
|
CHEMICALS—3.4%
|
||
533,719
|
Cabot Corp.
|
38,481
|
558,889
|
Scotts Miracle-Gro Co.
|
31,443
|
|
|
69,924
|
COMMERCIAL SERVICES & SUPPLIES—2.7%
|
||
653,921
|
Casella Waste Systems, Inc. Class A*
|
55,806
|
CONSUMER FINANCE—2.2%
|
||
392,455
|
FirstCash Holdings, Inc.
|
45,042
|
ELECTRICAL EQUIPMENT—1.8%
|
||
395,024
|
EnerSys
|
37,753
|
ELECTRONIC EQUIPMENT, INSTRUMENTS & COMPONENTS—6.8%
|
||
322,594
|
Advanced Energy Industries, Inc.
|
33,608
|
669,331
|
CTS Corp.
|
27,483
|
152,051
|
Littelfuse, Inc.
|
36,781
|
607,689
|
Methode Electronics, Inc.
|
12,615
|
305,129
|
Plexus Corp. *
|
28,902
|
|
|
139,389
|
ENERGY EQUIPMENT & SERVICES—5.8%
|
||
1,375,648
|
Archrock, Inc.
|
22,478
|
1,151,168
|
Core Laboratories, Inc.
|
18,154
|
703,594
|
Expro Group Holdings NV *
|
12,383
|
761,281
|
Helmerich & Payne, Inc.
|
30,649
|
1,740,877
|
Oceaneering International, Inc. *
|
36,176
|
|
|
119,840
|
FOOD PRODUCTS—1.6%
|
||
756,144
|
Darling Ingredients, Inc. *
|
32,741
|
GROUND TRANSPORTATION—1.5%
|
||
266,603
|
Ryder System, Inc.
|
30,278
|
HEALTH CARE EQUIPMENT & SUPPLIES—4.3%
|
||
421,222
|
CONMED Corp.
|
40,269
|
467,453
|
Integer Holdings Corp. *
|
47,362
|
|
|
87,631
|
HEALTH CARE PROVIDERS & SERVICES—0.9%
|
||
1,922,208
|
Pediatrix Medical Group, Inc. *
|
17,992
|
HOTEL & RESORT REITS—0.8%
|
||
1,094,149
|
Pebblebrook Hotel Trust
|
16,653
|
COMMON STOCKS—Continued
|
||
Shares
|
|
Value
|
HOTELS, RESTAURANTS & LEISURE—4.0%
|
||
1,085,930
|
Cheesecake Factory, Inc.
|
$37,323
|
344,169
|
Cracker Barrel Old Country Store, Inc.
|
26,622
|
4,586,690
|
Sabre Corp. *
|
18,805
|
|
|
82,750
|
HOUSEHOLD DURABLES—3.3%
|
||
231,159
|
Helen of Troy Ltd. *
|
26,468
|
247,083
|
Meritage Homes Corp.
|
40,919
|
|
|
67,387
|
INDUSTRIAL REITS—1.9%
|
||
1,048,431
|
STAG Industrial, Inc.
|
38,729
|
INSURANCE—3.9%
|
||
484,405
|
Horace Mann Educators Corp.
|
17,841
|
302,561
|
Reinsurance Group of America, Inc.
|
52,612
|
407,352
|
United Fire Group, Inc.
|
9,129
|
|
|
79,582
|
MACHINERY—10.5%
|
||
408,380
|
Albany International Corp. Class A
|
36,309
|
1,149,627
|
Flowserve Corp.
|
45,905
|
597,416
|
Franklin Electric Co., Inc.
|
56,312
|
473,104
|
SPX Technologies, Inc. *
|
47,613
|
358,039
|
Timken Co.
|
29,327
|
|
|
215,466
|
OFFICE REITS—1.2%
|
||
1,015,555
|
COPT Defense Properties
|
23,927
|
PROFESSIONAL SERVICES—4.2%
|
||
965,727
|
Parsons Corp. *
|
62,917
|
199,824
|
TriNet Group, Inc. *
|
22,720
|
|
|
85,637
|
SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT—6.5%
|
||
937,475
|
Amkor Technology, Inc.
|
29,680
|
371,394
|
Diodes, Inc. *
|
25,002
|
241,946
|
Entegris, Inc.
|
28,477
|
1,316,060
|
FormFactor, Inc. *
|
51,024
|
|
|
134,183
|
SOFTWARE—2.9%
|
||
1,198,940
|
Box, Inc. Class A*
|
31,149
|
579,437
|
Envestnet, Inc. *
|
29,609
|
|
|
60,758
|
SPECIALIZED REITS—1.0%
|
||
851,181
|
Four Corners Property Trust, Inc.
|
19,926
|
TEXTILES, APPAREL & LUXURY GOODS—0.5%
|
||
1,289,349
|
Wolverine World Wide, Inc.
|
10,779
|
TRADING COMPANIES & DISTRIBUTORS—2.0%
|
||
333,382
|
GATX Corp.
|
40,889
|
TOTAL COMMON STOCKS
(Cost $1,433,174)
|
2,010,126
|
|
TOTAL INVESTMENTS—97.8%
(Cost $1,433,174)
|
2,010,126
|
|
CASH AND OTHER ASSETS, LESS LIABILITIES—2.2%
|
45,724
|
|
TOTAL NET ASSETS—100%
|
$2,055,850
|
⬤
52
Harbor Small Cap Value Fund
PORTFOLIO OF INVESTMENTS—Continued
FAIR VALUE MEASUREMENTS
All investments as of January 31, 2024 (as disclosed in the preceding Portfolio of Investments) were classified as Level 1.
For more information on valuation inputs and their aggregation into the levels identified above, please refer to the Fair Value Measurements and Disclosures in Note 2 of the accompanying Notes to Portfolios of Investments.
For more information on valuation inputs and their aggregation into the levels identified above, please refer to the Fair Value Measurements and Disclosures in Note 2 of the accompanying Notes to Portfolios of Investments.
*
Non-income producing security
The accompanying notes are an integral part of the Portfolios of Investments.
⬤
53
Harbor Funds
Notes to Portfolios of Investments—January 31, 2024 (Unaudited)
NOTE 1—ORGANIZATIONAL MATTERS
Harbor Funds (the “Trust”) is registered under the Investment Company Act of 1940, as amended (the “Investment Company Act”), as an open-end management investment company. As of January 31, 2024, the Trust consists of the following separate portfolios (individually or collectively referred to as a “Fund” or the “Funds,” respectively). Harbor Capital Advisors, Inc. (the “Adviser” or “Harbor Capital”) is the investment adviser for the Funds.
Harbor Capital Appreciation Fund
|
Harbor Convertible Securities Fund
|
Harbor Core Bond Fund
|
Harbor Core Plus Fund
|
Harbor Disruptive Innovation Fund
|
Harbor Diversified International All Cap Fund
|
Harbor International Fund
|
Harbor International Core Fund
|
Harbor International Growth Fund
|
Harbor International Small Cap Fund
|
Harbor Large Cap Value Fund
|
Harbor Mid Cap Fund
|
Harbor Mid Cap Value Fund
|
Harbor Small Cap Growth Fund
|
Harbor Small Cap Value Fund
|
Security Valuation
Investments are valued pursuant to valuation procedures approved by the Board of Trustees. The valuation procedures permit
the Adviser to use a variety of valuation methodologies, consider a number of subjective factors, analyze applicable facts
and circumstances and, in general, exercise judgment, when valuing Fund investments. The methodology used for a specific type
of investment may vary based on the circumstances and relevant considerations, including available market data.
Equity securities (including common stock, preferred stock, and convertible preferred stock), exchange-traded funds and financial
derivative instruments (such as rights and warrants) that are traded on a national securities exchange or system (except securities
listed on the National Association of Securities Dealers Automated Quotation (“NASDAQ”) system and United Kingdom securities) are valued at the last sale price on a national exchange or system on which they are principally traded as of
the valuation date. Securities listed on the NASDAQ system or a United Kingdom exchange are valued at the official closing price
of those securities. In the case of securities for which there are no sales on the valuation day, (i) securities traded principally
on a U.S. exchange, including NASDAQ, are valued at the mean (or average) of the closing bid and ask price; and (ii) securities
traded principally on a foreign exchange, including United Kingdom securities, are valued at the official bid price determined
as of the close of the primary exchange. Shares of open-end registered investment companies that are held by a Fund are valued at net asset value. To the extent these securities are actively traded and fair valuation adjustments are not applied,
they are normally categorized as Level 1 in the fair value hierarchy. Equity securities traded on inactive markets or valued by
reference to similar instruments are normally categorized as Level 2 in the fair value hierarchy. For more information on the fair value
hierarchy, please refer to the Fair Value Measurements and Disclosures section.
Debt securities (including corporate bonds, municipal bonds and notes, U.S. government agencies, U.S. treasury obligations,
mortgage-backed and asset-backed securities, foreign government obligations and convertible securities, other than short-term
securities, with a remaining maturity of less than 60 days at the time of acquisition) are valued using evaluated prices furnished
by a pricing vendor. An evaluated price represents an assessment by the pricing vendor using various market inputs of what
the pricing vendor believes is the fair value of a security at a particular point in time. The pricing vendor determines evaluated
prices for debt securities that would be transacted at institutional-size quantities using inputs including, but not limited
to, (i) recent transaction prices and dealer quotes, (ii) transaction prices for what the pricing vendor believes are securities
with similar characteristics, (iii) the pricing vendor’s assessment of the risk inherent in the security taking into account criteria such as credit quality, payment history, liquidity and market conditions, and (iv) various correlations and relationships between
security price movements and other factors, such as interest rate changes, which are recognized by institutional traders.
In the case of asset-backed and mortgage-backed securities, the inputs used by the pricing vendor may also include information
about cash flows, prepayment rates, default rates, delinquency and loss assumption, collateral characteristics, credit enhancements
and other specific information about the particular offering. Because many debt securities trade infrequently, the pricing
vendor will often not have current transaction price information available as an input in determining an evaluated price for a particular
security. When current transaction price information is available, it is one input into the pricing vendor’s evaluation process, which means that the evaluated price supplied by the pricing vendor will frequently differ from that transaction price. Securities
that use similar valuation techniques and inputs as described above are normally categorized as Level 2 in the fair value
hierarchy.
⬤
54
Harbor Funds
Notes to Portfolios of Investments—Continued
NOTE 2—SIGNIFICANT ACCOUNTING POLICIES—Continued
Short-term securities with a remaining maturity of less than 60 days at the time of acquisition that are held by a Fund are
valued at amortized cost to the extent amortized cost represents fair value. Such securities are normally categorized as Level
2 in the fair value hierarchy.
A Fund may also use fair value pricing if the value of some or all of the Fund’s securities have been materially affected by events occurring before the Fund’s pricing time but after the close of the primary markets or exchanges on which the security is traded. This most commonly occurs with foreign securities, but may occur with other securities as well. In such cases,
the Fund may apply a fair value factor supplied by the pricing vendor to a foreign security’s market close value to reflect changes in value that may have occurred between the close of the primary market or exchange on which the security is traded and the Fund’s pricing time. That factor may be derived using observable inputs such as a comparison of the trading patterns of a foreign security to intraday trading in the U.S. markets that are highly correlated to the foreign security or other information
that becomes available after the close of the foreign market on which the security principally traded. When fair value pricing
is employed, the prices of securities used by a Fund to calculate its net asset value may differ from market quotations, official
closing prices or evaluated prices for the same securities, which means that the Fund may value those securities higher or
lower than another given fund that uses market quotations, official closing prices or evaluated prices supplied by a pricing
vendor in its calculation of net asset value. Securities valued using observable inputs, such as those described above, are
normally categorized as Level 2 of the fair value hierarchy.
When reliable market quotations or evaluated prices supplied by a pricing vendor are not readily available or are not believed
to accurately reflect fair value, securities fair value determinations are made by the Adviser as designated by the Board
of Trustees pursuant to the Investment Company Act. Fair value determinations for investments which incorporate significant unobservable inputs are normally categorized as Level 3 in the fair value hierarchy.
Fair Value Measurements and Disclosures
Various inputs may be used to determine the value of each Fund’s investments, which are summarized in three broad categories defined as Level 1, Level 2, and Level 3. The inputs or methodologies used for valuing investments are not necessarily indicative
of the risk associated with investing in those investments. The assignment of an investment to Levels 1, 2, or 3 is based
on the lowest level of significant inputs used to determine its fair value.
Level 1–Quoted prices in active markets for identical securities.
Level 2–Other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds, credit risk, etc.).
Level 3–Significant unobservable inputs are used in situations where quoted prices or other observable inputs are not available or are deemed unreliable. Significant unobservable inputs may include each Fund’s own assumptions.
The categorization of investments into Levels 1, 2, or 3, and a summary of significant unobservable inputs used for Level
3 investments, when applicable, can be found at the end of each Fund’s Portfolio of Investments schedule.
Each Fund used observable inputs in its valuation methodologies whenever they were available and deemed reliable.
Securities Transactions
Securities transactions are accounted for on the trade date (the date the order to buy or sell is executed).
Please refer to the most recent annual or semi-annual reports on the Harbor Capital’s website at harborcapital.com for more information regarding each Fund’s significant accounting policies, investments, and related transactions.
⬤
55