# EDGAR Filing Document

**Accession Number:** 0000793769
**File Stem:** 0001410368-26-033718
**Filing Date:** 2026-3
**Character Count:** 439256
**Document Hash:** f3ced870e72ca64cac8da2cc6174e20b
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001410368-26-033718.hdr.sgml**: 20260330

**ACCESSION NUMBER**: 0001410368-26-033718

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 6

**CONFORMED PERIOD OF REPORT**: 20260131

**FILED AS OF DATE**: 20260330

**DATE AS OF CHANGE**: 20260330

**PERIOD START**: 20261031

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** HARBOR FUNDS
- **CENTRAL INDEX KEY:** 0000793769

**ORGANIZATION NAME:**
- **EIN:** 000000000
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1031

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-04676
- **FILM NUMBER:** 26812222

**BUSINESS ADDRESS:**
- **STREET 1:** 111 SOUTH WACKER DRIVE
- **STREET 2:** 34TH FLOOR
- **CITY:** CHICAGO
- **STATE:** IL
- **ZIP:** 60606
- **BUSINESS PHONE:** 312-443-4400

**MAIL ADDRESS:**
- **STREET 1:** 111 SOUTH WACKER DRIVE
- **STREET 2:** 34TH FLOOR
- **CITY:** CHICAGO
- **STATE:** IL
- **ZIP:** 60606

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** HARBOR FUND
- **DATE OF NAME CHANGE:** 19920703

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** HARBOR GROWTH FUND
- **DATE OF NAME CHANGE:** 19871229

## Series and Classes Contracts Data

### Harbor International Small Cap Fund (Series ID: S000052663)

| Class ID   | Class Name           | Ticker Symbol   |
|:---|:---|:---|
| C000165335 | Institutional Class  | HAISX           |
| C000165336 | Administrative Class | HRISX           |
| C000165337 | Investor Class       | HIISX           |
| C000165338 | Retirement Class     | HNISX           |

## Nport-Ex

![](imgfa4f8a5f1.jpg)

**Quarterly Portfolios of Investments**

**HARBOR FUNDS AND HARBOR FUNDS II**

**January 31, 2026** 

---

| |
|:---|
| &nbsp;&nbsp; Embark Commodity Strategy Fund (Consolidated) |
| &nbsp;&nbsp; Embark Small Cap Equity Fund |
| &nbsp;&nbsp; Harbor Capital Appreciation Fund |
| &nbsp;&nbsp; Harbor Convertible Securities Fund (currently, Harbor Ares Systematic Convertible Securities Fund) |
| &nbsp;&nbsp; Harbor Core Bond Fund |
| &nbsp;&nbsp; Harbor Core Plus Fund |
| &nbsp;&nbsp; Harbor Diversified International All Cap Fund |
| &nbsp;&nbsp; Harbor International Fund |
| &nbsp;&nbsp; Harbor International Compounders Fund |
| &nbsp;&nbsp; Harbor International Core Fund |
| &nbsp;&nbsp; Harbor International Small Cap Fund |
| &nbsp;&nbsp; Harbor Large Cap Value Fund |
| &nbsp;&nbsp; Harbor Mid Cap Fund |
| &nbsp;&nbsp; Harbor Mid Cap Value Fund |
| &nbsp;&nbsp; Harbor Small Cap Growth Fund |
| &nbsp;&nbsp; Harbor Small Cap Value Fund |

---

![](img1e60855b2.gif)

------

**Table of Contents**

------

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| **Portfolios of Investments** <br>|  |
| Embark Commodity Strategy Fund (CONSOLIDATED) | 1  |
| Embark Small Cap Equity Fund | 9  |
| Harbor Capital Appreciation Fund | 13  |
| Harbor Convertible Securities Fund (currently, Harbor Ares <br> Systematic Convertible Securities Fund)<br>| 14  |
| Harbor Core Bond Fund | 18  |
| Harbor Core Plus Fund | 27  |
| Harbor Diversified International All Cap Fund | 35  |
| Harbor International Fund | 40  |
| Harbor International Compounders Fund | 44  |
| Harbor International Core Fund | 46  |
| Harbor International Small Cap Fund | 54  |
| Harbor Large Cap Value Fund | 56  |
| Harbor Mid Cap Fund | 58  |
| Harbor Mid Cap Value Fund | 60  |
| Harbor Small Cap Growth Fund | 63  |
| Harbor Small Cap Value Fund | 65  |
| **Notes to Portfolios of Investments** | 67 |

---

------

**Embark Commodity Strategy Fund**

**CONSOLIDATED PORTFOLIO OF INVESTMENTS—January 31, 2026 (Unaudited)**

------

*Principal Amount, Value and Cost in Thousands*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
| **Corporate Bonds & Notes—11.6%** | **Corporate Bonds & Notes—11.6%** | **Corporate Bonds & Notes—11.6%** |
| **Principal** <br>**Amount**<br>|  | **Value** |
| **AEROSPACE & DEFENSE—0.5%** | **AEROSPACE & DEFENSE—0.5%** | **AEROSPACE & DEFENSE—0.5%** |
| $7440 | &nbsp;&nbsp;&nbsp; Boeing Co. <br>2.196%—02/04/2026<br>| $7439 |
| 9835 | &nbsp;&nbsp;&nbsp; General Electric Co. MTN <br>4.542% (3 Month USD Term SOFR + 0.642%) <br> 05/05/2026<sup>1</sup><br>| 9845 |
|  |  | 17284 |
| **AUTOMOBILES—0.4%** | **AUTOMOBILES—0.4%** | **AUTOMOBILES—0.4%** |
| 5190 | &nbsp;&nbsp;&nbsp; General Motors Financial Co., Inc. <br>5.400%—04/06/2026<br>| 5204 |
| 6545 | &nbsp;&nbsp;&nbsp; Toyota Motor Credit Corp. <br>4.580% (SOFR + 0.770%) 08/07/2026<sup>1</sup><br>| 6564 |
|  |  | 11768 |
| **BANKS—3.2%** | **BANKS—3.2%** | **BANKS—3.2%** |
| 13245 | &nbsp;&nbsp;&nbsp; Bank of America Corp. <br>5.033% (SOFR + 1.350%) 09/15/2027<sup>1</sup><br>| 13316 |
| 8485 | &nbsp;&nbsp;&nbsp; Citibank NA <br>4.483% (SOFR + 0.712%) 11/19/2027<sup>1</sup><br>| 8503 |
| 4735 | &nbsp;&nbsp;&nbsp; Citigroup, Inc. <br>4.945% (SOFR + 1.143%) 05/07/2028<sup>1</sup><br>| 4766 |
| 6590 | &nbsp;&nbsp;&nbsp; Fifth Third Bank NA <br>4.476% (SOFR + 0.810%) 01/28/2028<sup>1</sup><br>| 6604 |
|  | JPMorgan Chase & Co. |  |
| 6635 | &nbsp;&nbsp;&nbsp; 4.586% (SOFR + 0.920%) 04/22/2028<sup>1</sup> | 6674 |
| 5495 | &nbsp;&nbsp;&nbsp; 4.866% (SOFR + 1.200%) 01/23/2028<sup>1</sup> | 5533 |
|  |  | 12207 |
|  | Morgan Stanley Bank NA |  |
| 3020 | &nbsp;&nbsp;&nbsp; 4.351% (SOFR + 0.685%) 10/15/2027<sup>1</sup> | 3026 |
| 11680 | &nbsp;&nbsp;&nbsp; 4.607% (SOFR + 0.865%) 05/26/2028<sup>1</sup> | 11726 |
|  |  | 14752 |
| 7725 | &nbsp;&nbsp;&nbsp; PNC Bank NA <br>4.396% (SOFR + 0.730%) 07/21/2028<sup>1</sup><br>| 7746 |
|  | State Street Corp. |  |
| 7200 | &nbsp;&nbsp;&nbsp; 4.306% (SOFR + 0.640%) 10/22/2027<sup>1</sup> | 7237 |
| 1810 | &nbsp;&nbsp;&nbsp; 4.664% (SOFR + 0.845%) 08/03/2026<sup>1</sup> | 1814 |
|  |  | 9051 |
| 11100 | &nbsp;&nbsp;&nbsp; Truist Bank <br>4.436% (SOFR + 0.770%) 07/24/2028<sup>1</sup><br>| 11138 |
|  | U.S. Bank NA |  |
| 1170 | &nbsp;&nbsp;&nbsp; 4.356% (SOFR + 0.690%) 10/22/2027<sup>1</sup> | 1171 |
| 10000 | &nbsp;&nbsp;&nbsp; 4.696% (SOFR + 0.910%) 05/15/2028<sup>1</sup> | 10052 |
|  |  | 11223 |
|  |  | 99306 |
| **BEVERAGES—0.2%** | **BEVERAGES—0.2%** | **BEVERAGES—0.2%** |
| 5089 | &nbsp;&nbsp;&nbsp; PepsiCo, Inc. <br>4.194% (SOFR + 0.400%) 02/13/2026<sup>1</sup><br>| 5090 |
| **CAPITAL MARKETS—0.8%** | **CAPITAL MARKETS—0.8%** | **CAPITAL MARKETS—0.8%** |
|  | Bank of New York Mellon Corp. |  |
| 1720 | &nbsp;&nbsp;&nbsp; 4.376% (SOFR + 0.710%) 04/20/2027<sup>1</sup> | 1722 |
| 10908 | &nbsp;&nbsp;&nbsp; 4.383% (SOFR + 0.680%) 06/09/2028<sup>1</sup> | 10943 |
|  |  | 12665 |

---

---

| | | |
|:---|:---|:---|
| **Corporate Bonds & Notes—Continued** | **Corporate Bonds & Notes—Continued** | **Corporate Bonds & Notes—Continued** |
| **Principal**<br> **Amount**<br>|  | **Value** |
| **CAPITAL MARKETS—Continued** | **CAPITAL MARKETS—Continued** | **CAPITAL MARKETS—Continued** |
|  | Goldman Sachs Group, Inc. |  |
| $2774 | &nbsp;&nbsp;&nbsp; 4.956% (SOFR + 1.290%) 04/23/2028<sup>1</sup> | $2798 |
| 9490 | &nbsp;&nbsp;&nbsp; 5.534% (SOFR + 1.850%) 03/15/2028<sup>1</sup> | 9615 |
|  |  | 12413 |
|  |  | 25078 |
| **COMMERCIAL SERVICES & SUPPLIES—0.2%** | **COMMERCIAL SERVICES & SUPPLIES—0.2%** | **COMMERCIAL SERVICES & SUPPLIES—0.2%** |
| 5795 | &nbsp;&nbsp;&nbsp; PayPal Holdings, Inc. <br>4.376% (SOFR + 0.670%) 03/06/2028<sup>1</sup><br>| 5814 |
| **DIVERSIFIED FINANCIAL SERVICES—0.1%** | **DIVERSIFIED FINANCIAL SERVICES—0.1%** | **DIVERSIFIED FINANCIAL SERVICES—0.1%** |
| 3020 | &nbsp;&nbsp;&nbsp; Mastercard, Inc. <br>4.124% (SOFR + 0.440%) 03/15/2028<sup>1</sup><br>| 3027 |
| **DIVERSIFIED TELECOMMUNICATION SERVICES—0.4%** | **DIVERSIFIED TELECOMMUNICATION SERVICES—0.4%** | **DIVERSIFIED TELECOMMUNICATION SERVICES—0.4%** |
| 13140 | &nbsp;&nbsp;&nbsp; AT&T, Inc. <br>1.700%—03/25/2026<br>| 13101 |
| **ELECTRIC UTILITIES—0.5%** | **ELECTRIC UTILITIES—0.5%** | **ELECTRIC UTILITIES—0.5%** |
| 1575 | &nbsp;&nbsp;&nbsp; Constellation Energy Generation LLC <br>4.266% (SOFR + 0.600%) 01/08/2028<sup>1</sup><br>| 1578 |
| 5375 | &nbsp;&nbsp;&nbsp; Georgia Power Co. <br>3.964% (SOFR + 0.280%) 09/15/2026<sup>1</sup><br>| 5376 |
| 7968 | &nbsp;&nbsp;&nbsp; NextEra Energy Capital Holdings, Inc. <br>4.635% (SOFR + 0.800%) 02/04/2028<sup>1</sup><br>| 8017 |
|  |  | 14971 |
| **ELECTRONIC EQUIPMENT, INSTRUMENTS & COMPONENTS—0.1%** | **ELECTRONIC EQUIPMENT, INSTRUMENTS & COMPONENTS—0.1%** | **ELECTRONIC EQUIPMENT, INSTRUMENTS & COMPONENTS—0.1%** |
| 4115 | &nbsp;&nbsp;&nbsp; Amphenol Corp. <br>4.330% (SOFR + 0.530%) 11/15/2027<sup>1</sup><br>| 4126 |
| **FINANCIAL SERVICES—0.5%** | **FINANCIAL SERVICES—0.5%** | **FINANCIAL SERVICES—0.5%** |
| 13240 | &nbsp;&nbsp;&nbsp; American Express Co. <br>4.786% (SOFR + 1.000%) 02/16/2028<sup>1</sup><br>| 13280 |
| 2345 | &nbsp;&nbsp;&nbsp; PNC Financial Services Group, Inc. <br>4.287% (SOFR + 0.620%) 01/26/2029<sup>1</sup><br>| 2349 |
|  |  | 15629 |
| **HEALTH CARE EQUIPMENT & SUPPLIES—0.3%** | **HEALTH CARE EQUIPMENT & SUPPLIES—0.3%** | **HEALTH CARE EQUIPMENT & SUPPLIES—0.3%** |
| 9130 | &nbsp;&nbsp;&nbsp; UnitedHealth Group, Inc. <br>4.166% (SOFR + 0.500%) 07/15/2026<sup>1</sup><br>| 9145 |
| **INSURANCE—0.9%** | **INSURANCE—0.9%** | **INSURANCE—0.9%** |
|  | Athene Global Funding |  |
| 4590 | &nbsp;&nbsp;&nbsp; 4.496% (SOFR + 0.830%) 01/07/2027<sup>1,2</sup> | 4599 |
| 3340 | &nbsp;&nbsp;&nbsp; 4.682% (SOFR + 1.000%) 09/18/2028<sup>1,2</sup> | 3350 |
|  |  | 7949 |
| 6335 | &nbsp;&nbsp;&nbsp; Corebridge Global Funding <br>4.980% (SOFR + 1.300%) 09/25/2026<sup>1,2</sup><br>| 6377 |
| 5100 | &nbsp;&nbsp;&nbsp; Marsh & McLennan Cos., Inc. <br>4.509% (SOFR + 0.700%) 11/08/2027<sup>1</sup><br>| 5125 |
| 5605 | &nbsp;&nbsp;&nbsp; New York Life Global Funding <br>4.229% (SOFR + 0.410%) 02/05/2027<sup>1,2</sup><br>| 5613 |
| 4820 | &nbsp;&nbsp;&nbsp; Principal Life Global Funding II <br>4.592% (SOFR + 0.810%) 08/18/2028<sup>1,2</sup><br>| 4827 |
|  |  | 29891 |
| **INTERNET & CATALOG RETAIL—0.2%** | **INTERNET & CATALOG RETAIL—0.2%** | **INTERNET & CATALOG RETAIL—0.2%** |
| 6285 | &nbsp;&nbsp;&nbsp; Alphabet, Inc. <br>4.324% (SOFR + 0.520%) 11/15/2028<sup>1</sup><br>| 6337 |

---

------

⬤

------

**Embark Commodity Strategy Fund**

**CONSOLIDATED PORTFOLIO OF INVESTMENTS—Continued**

------

*Principal Amount, Value and Cost in Thousands* 

---

| | | |
|:---|:---|:---|
| **Corporate Bonds & Notes—Continued** | **Corporate Bonds & Notes—Continued** | **Corporate Bonds & Notes—Continued** |
| **Principal**<br> **Amount**<br>|  | **Value** |
| **MACHINERY—0.7%** | **MACHINERY—0.7%** | **MACHINERY—0.7%** |
| $2265 | &nbsp;&nbsp;&nbsp; Caterpillar Financial Services Corp. <br>4.369% (SOFR + 0.580%) 11/14/2028<sup>1</sup><br>| $2276 |
| 8930 | &nbsp;&nbsp;&nbsp; Caterpillar Financial Services Corp. MTN <br>4.309% (SOFR + 0.520%) 05/14/2027<sup>1</sup><br>| 8977 |
|  | John Deere Capital Corp. MTN |  |
| 8315 | &nbsp;&nbsp;&nbsp; 4.159% (SOFR + 0.440%) 03/06/2026<sup>1</sup> | 8318 |
| 3232 | &nbsp;&nbsp;&nbsp; 4.306% (SOFR + 0.600%) 06/11/2027<sup>1</sup> | 3247 |
|  |  | 11565 |
|  |  | 22818 |
| **MEDIA—0.2%** | **MEDIA—0.2%** | **MEDIA—0.2%** |
| 5280 | &nbsp;&nbsp;&nbsp; TCI Communications, Inc. <br>7.875%—02/15/2026<br>| 5287 |
| **MULTI-UTILITIES—0.2%** | **MULTI-UTILITIES—0.2%** | **MULTI-UTILITIES—0.2%** |
| 5415 | &nbsp;&nbsp;&nbsp; Consolidated Edison Co. of New York, Inc. <br>4.302% (SOFR + 0.520%) 11/18/2027<sup>1</sup><br>| 5428 |
| **OIL, GAS & CONSUMABLE FUELS—0.5%** | **OIL, GAS & CONSUMABLE FUELS—0.5%** | **OIL, GAS & CONSUMABLE FUELS—0.5%** |
| 5960 | &nbsp;&nbsp;&nbsp; BP Capital Markets America, Inc. <br>3.017%—01/16/2027<br>| 5922 |
|  | Chevron USA, Inc. |  |
| 6265 | &nbsp;&nbsp;&nbsp; 4.109% (SOFR + 0.360%) 02/26/2027<sup>1</sup> | 6282 |
| 4580 | &nbsp;&nbsp;&nbsp; 4.364% (SOFR + 0.570%) 08/13/2028<sup>1</sup> | 4614 |
|  |  | 10896 |
|  |  | 16818 |
| **PHARMACEUTICALS—0.6%** | **PHARMACEUTICALS—0.6%** | **PHARMACEUTICALS—0.6%** |
| 6830 | &nbsp;&nbsp;&nbsp; Bristol-Myers Squibb Co. <br>4.257% (SOFR + 0.490%) 02/20/2026<sup>1</sup><br>| 6831 |
| 2730 | &nbsp;&nbsp;&nbsp; CVS Health Corp. <br>5.000%—02/20/2026<br>| 2731 |
| 3230 | &nbsp;&nbsp;&nbsp; Eli Lilly & Co. <br>4.196% (SOFR + 0.530%) 10/15/2028<sup>1</sup><br>| 3253 |
| 5665 | &nbsp;&nbsp;&nbsp; Novartis Capital Corp. <br>4.339% (SOFR + 0.520%) 11/05/2028<sup>1</sup><br>| 5697 |
|  |  | 18512 |
| **SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT—0.2%** | **SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT—0.2%** | **SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT—0.2%** |
| 7208 | &nbsp;&nbsp;&nbsp; Intel Corp. <br>4.875%—02/10/2026<br>| 7209 |
| **SOFTWARE—0.4%** | **SOFTWARE—0.4%** | **SOFTWARE—0.4%** |
|  | Oracle Corp. |  |
| 9221 | &nbsp;&nbsp;&nbsp; 1.650%—03/25/2026 | 9189 |
| 2420 | &nbsp;&nbsp;&nbsp; 4.602% (SOFR + 0.760%) 08/03/2028<sup>1</sup> | 2381 |
|  |  | 11570 |
| **TOBACCO—0.3%** | **TOBACCO—0.3%** | **TOBACCO—0.3%** |
| 9645 | &nbsp;&nbsp;&nbsp; Philip Morris International, Inc. <br>4.513% (SOFR + 0.830%) 04/28/2028<sup>1</sup><br>| 9707 |
| **WIRELESS TELECOMMUNICATION SERVICES—0.2%** | **WIRELESS TELECOMMUNICATION SERVICES—0.2%** | **WIRELESS TELECOMMUNICATION SERVICES—0.2%** |
|  | T-Mobile USA, Inc. |  |
| 1120 | &nbsp;&nbsp;&nbsp; 2.250%—02/15/2026 | 1119 |
| 6775 | &nbsp;&nbsp;&nbsp; 2.625%—04/15/2026 | 6757 |
|  |  | 7876 |
| &nbsp;&nbsp;&nbsp; **Total Corporate Bonds & Notes** <br>(Cost $365,182) | &nbsp;&nbsp;&nbsp; **Total Corporate Bonds & Notes** <br>(Cost $365,182) | 365792 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
| **Short-Term Investments—70.3%** | **Short-Term Investments—70.3%** | **Short-Term Investments—70.3%** |
| **Principal** <br>**Amount**<br>|  | **Value** |
| **U.S. TREASURY BILLS—70.3%** | **U.S. TREASURY BILLS—70.3%** | **U.S. TREASURY BILLS—70.3%** |
|  | U.S. Treasury Bills |  |
| $8000 | &nbsp;&nbsp;&nbsp; 3.470%—07/09/2026<sup>†</sup> | $7877 |
| 749 | &nbsp;&nbsp;&nbsp; 3.475%—07/09/2026<sup>†</sup> | 738 |
| 101784 | &nbsp;&nbsp;&nbsp; 3.484%—07/16/2026<sup>†</sup> | 100150 |
| 122600 | &nbsp;&nbsp;&nbsp; 3.490%—07/16/2026<sup>†</sup> | 120631 |
| 118045 | &nbsp;&nbsp;&nbsp; 3.491%—03/26/2026-06/18/2026<sup>†</sup> | 116726 |
| 15905 | &nbsp;&nbsp;&nbsp; 3.500%—07/02/2026<sup>†</sup> | 15670 |
| 175000 | &nbsp;&nbsp;&nbsp; 3.504%—03/03/2026<sup>†</sup> | 174490 |
| 23000 | &nbsp;&nbsp;&nbsp; 3.520%—07/23/2026<sup>†</sup> | 22615 |
| 27602 | &nbsp;&nbsp;&nbsp; 3.525%—07/30/2026<sup>†</sup> | 27122 |
| 34000 | &nbsp;&nbsp;&nbsp; 3.529%—03/12/2026<sup>†</sup> | 33870 |
| 21420 | &nbsp;&nbsp;&nbsp; 3.535%—04/02/2026<sup>†</sup> | 21293 |
| 30150 | &nbsp;&nbsp;&nbsp; 3.560%—04/09/2026<sup>†</sup> | 29952 |
| 6240 | &nbsp;&nbsp;&nbsp; 3.570%—04/16/2026<sup>†,3</sup> | 6195 |
| 2240 | &nbsp;&nbsp;&nbsp; 3.571%—04/23/2026<sup>†</sup> | 2222 |
| 17760 | &nbsp;&nbsp;&nbsp; 3.573%—04/09/2026<sup>†</sup> | 17644 |
| 36590 | &nbsp;&nbsp;&nbsp; 3.575%—04/23/2026<sup>†</sup> | 36300 |
| 21900 | &nbsp;&nbsp;&nbsp; 3.577%—04/16/2026<sup>†,3</sup> | 21741 |
| 96367 | &nbsp;&nbsp;&nbsp; 3.580%—05/28/2026-06/11/2026<sup>†,3</sup> | 95253 |
| 97000 | &nbsp;&nbsp;&nbsp; 3.585%—04/30/2026<sup>†,3</sup> | 96162 |
| 29710 | &nbsp;&nbsp;&nbsp; 3.627%—03/05/2026<sup>†</sup> | 29618 |
| 17195 | &nbsp;&nbsp;&nbsp; 3.640%—04/30/2026<sup>†,3</sup> | 17046 |
| 71101 | &nbsp;&nbsp;&nbsp; 3.647%—05/21/2026<sup>†</sup> | 70341 |
| 86186 | &nbsp;&nbsp;&nbsp; 3.660%—04/16/2026-04/23/2026<sup>†,3</sup> | 85549 |
| 77880 | &nbsp;&nbsp;&nbsp; 3.664%—04/16/2026<sup>†,3</sup> | 77315 |
| 156748 | &nbsp;&nbsp;&nbsp; 3.679%—03/19/2026<sup>†</sup> | 156039 |
| 5935 | &nbsp;&nbsp;&nbsp; 3.690%—05/14/2026<sup>†</sup> | 5876 |
| 6820 | &nbsp;&nbsp;&nbsp; 3.695%—04/09/2026<sup>†</sup> | 6775 |
| 40235 | &nbsp;&nbsp;&nbsp; 3.701%—05/07/2026<sup>†</sup> | 39861 |
| 38981 | &nbsp;&nbsp;&nbsp; 3.715%—04/02/2026<sup>†</sup> | 38751 |
| 21460 | &nbsp;&nbsp;&nbsp; 3.720%—02/19/2026<sup>†</sup> | 21424 |
| 60600 | &nbsp;&nbsp;&nbsp; 3.730%—03/12/2026-03/24/2026<sup>†,3</sup> | 60331 |
| 50000 | &nbsp;&nbsp;&nbsp; 3.734%—03/26/2026<sup>†</sup> | 49738 |
| 44600 | &nbsp;&nbsp;&nbsp; 3.735%—02/24/2026<sup>†</sup> | 44501 |
| 26750 | &nbsp;&nbsp;&nbsp; 3.764%—02/12/2026<sup>†</sup> | 26723 |
| 135582 | &nbsp;&nbsp;&nbsp; 3.775%—02/12/2026<sup>†</sup> | 135447 |
| 273184 | &nbsp;&nbsp;&nbsp; 3.867%—02/19/2026<sup>†</sup> | 272720 |
| 27326 | &nbsp;&nbsp;&nbsp; 3.915%—02/26/2026<sup>†</sup> | 27260 |
| 94701 | &nbsp;&nbsp;&nbsp; 3.980%—02/05/2026<sup>†</sup> | 94673 |
| &nbsp;&nbsp;&nbsp; **Total Short-Term Investments** <br>(Cost $2,206,329) | &nbsp;&nbsp;&nbsp; **Total Short-Term Investments** <br>(Cost $2,206,329) | 2206639 |
| &nbsp;&nbsp;&nbsp; **TOTAL INVESTMENTS—81.9%** <br>(Cost $2,571,511) | &nbsp;&nbsp;&nbsp; **TOTAL INVESTMENTS—81.9%** <br>(Cost $2,571,511) | 2572431 |
| **CASH AND OTHER ASSETS, LESS LIABILITIES—18.1%** | **CASH AND OTHER ASSETS, LESS LIABILITIES—18.1%** | 566846 |
| **TOTAL NET ASSETS—100.0%** | **TOTAL NET ASSETS—100.0%** | $3139277 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

------

⬤

------

**Embark Commodity Strategy Fund**

**CONSOLIDATED PORTFOLIO OF INVESTMENTS—Continued**

------

---

| | | | | |
|:---|:---|:---|:---|:---|
| **FUTURES CONTRACTS** | **FUTURES CONTRACTS** | **FUTURES CONTRACTS** | **FUTURES CONTRACTS** | **FUTURES CONTRACTS** |
| **LONG FUTURES CONTRACTS** | **LONG FUTURES CONTRACTS** | **LONG FUTURES CONTRACTS** | **LONG FUTURES CONTRACTS** | **LONG FUTURES CONTRACTS** |
| **Description** | **Number of** <br>**Contracts**<br>| **Expiration** <br>**Month**<br>| **Current** <br>**Notional** <br>**Value** <br>**(000s)**<br>| **Unrealized** <br>**Appreciation/** <br>**(Depreciation)** <br>**(000s)**<br>|
| Aluminum Futures | &nbsp;&nbsp; 44 | 02/26 | &nbsp;&nbsp; $3431 | &nbsp;&nbsp; $268 |
| Brent Crude Futures | &nbsp;&nbsp; 510 | 02/26 | &nbsp;&nbsp; 35353 | &nbsp;&nbsp; 2820 |
| Brent Crude Futures | &nbsp;&nbsp; 2730 | 03/26 | &nbsp;&nbsp; 187305 | &nbsp;&nbsp; 12510 |
| Brent Crude Futures | &nbsp;&nbsp; 10 | 05/26 | &nbsp;&nbsp; 676 | &nbsp;&nbsp; 78 |
| Canola Futures | &nbsp;&nbsp; 316 | 03/26 | &nbsp;&nbsp; 3008 | &nbsp;&nbsp; (10)<br>|
| Cattle Feeder Futures | &nbsp;&nbsp; 96 | 03/26 | &nbsp;&nbsp; 17293 | &nbsp;&nbsp; 1105 |
| Cattle Feeder Futures | &nbsp;&nbsp; 19 | 04/26 | &nbsp;&nbsp; 3404 | &nbsp;&nbsp; (1)<br>|
| Cattle Feeder Futures | &nbsp;&nbsp; 6 | 08/26 | &nbsp;&nbsp; 1062 | &nbsp;&nbsp; 5 |
| Cocoa Futures | &nbsp;&nbsp; 183 | 03/26 | &nbsp;&nbsp; 7484 | &nbsp;&nbsp; (2050)<br>|
| Cocoa Futures | &nbsp;&nbsp; 141 | 05/26 | &nbsp;&nbsp; 5959 | &nbsp;&nbsp; (429)<br>|
| Cocoa Futures | &nbsp;&nbsp; 44 | 07/26 | &nbsp;&nbsp; 1880 | &nbsp;&nbsp; (618)<br>|
| Coffee C Futures | &nbsp;&nbsp; 277 | 03/26 | &nbsp;&nbsp; 34512 | &nbsp;&nbsp; (3782)<br>|
| Coffee C Futures | &nbsp;&nbsp; 257 | 05/26 | &nbsp;&nbsp; 30392 | &nbsp;&nbsp; (1071)<br>|
| Coffee C Futures | &nbsp;&nbsp; 29 | 07/26 | &nbsp;&nbsp; 3360 | &nbsp;&nbsp; (304)<br>|
| Copper Futures | &nbsp;&nbsp; 16 | 02/26 | &nbsp;&nbsp; 5228 | &nbsp;&nbsp; 930 |
| Copper Futures | &nbsp;&nbsp; 154 | 03/26 | &nbsp;&nbsp; 22807 | &nbsp;&nbsp; 2491 |
| Copper Futures | &nbsp;&nbsp; 319 | 07/26 | &nbsp;&nbsp; 48137 | &nbsp;&nbsp; (119)<br>|
| Copper Futures | &nbsp;&nbsp; 65 | 09/26 | &nbsp;&nbsp; 9887 | &nbsp;&nbsp; 247 |
| Corn Futures | &nbsp;&nbsp; 1567 | 03/26 | &nbsp;&nbsp; 33553 | &nbsp;&nbsp; (688)<br>|
| Corn Futures | &nbsp;&nbsp; 2801 | 05/26 | &nbsp;&nbsp; 61027 | &nbsp;&nbsp; (559)<br>|
| Corn Futures | &nbsp;&nbsp; 425 | 07/26 | &nbsp;&nbsp; 9393 | &nbsp;&nbsp; (29)<br>|
| Corn Futures | &nbsp;&nbsp; 804 | 09/26 | &nbsp;&nbsp; 17738 | &nbsp;&nbsp; (29)<br>|
| Cotton No. 2 Futures | &nbsp;&nbsp; 217 | 03/26 | &nbsp;&nbsp; 6854 | &nbsp;&nbsp; (202)<br>|
| Cotton No. 2 Futures | &nbsp;&nbsp; 255 | 05/26 | &nbsp;&nbsp; 8279 | &nbsp;&nbsp; (140)<br>|
| Cotton No. 2 Futures | &nbsp;&nbsp; 84 | 07/26 | &nbsp;&nbsp; 2795 | &nbsp;&nbsp; (31)<br>|
| Cotton No. 2 Futures | &nbsp;&nbsp; 130 | 12/26 | &nbsp;&nbsp; 4469 | &nbsp;&nbsp; — |
| Dutch TTF Natural Gas Futures | &nbsp;&nbsp; 120 | 02/26 | &nbsp;&nbsp; 4152 | &nbsp;&nbsp; 202 |
| Dutch TTF Natural Gas Futures | &nbsp;&nbsp; 170 | 11/26 | &nbsp;&nbsp; 4787 | &nbsp;&nbsp; 493 |
| ECX Emissions Futures | &nbsp;&nbsp; 422 | 12/26 | &nbsp;&nbsp; 40648 | &nbsp;&nbsp; (1478)<br>|
| FCOJ-A Futures | &nbsp;&nbsp; 41 | 03/26 | &nbsp;&nbsp; 1298 | &nbsp;&nbsp; 78 |
| FCOJ-A Futures | &nbsp;&nbsp; 8 | 07/26 | &nbsp;&nbsp; 253 | &nbsp;&nbsp; (2)<br>|
| Gas Oil Low Sulphur Futures | &nbsp;&nbsp; 892 | 03/26 | &nbsp;&nbsp; 65071 | &nbsp;&nbsp; 6111 |
| Gas Oil Low Sulphur Futures | &nbsp;&nbsp; 374 | 04/26 | &nbsp;&nbsp; 26545 | &nbsp;&nbsp; 1838 |
| Gas Oil Low Sulphur Futures | &nbsp;&nbsp; 97 | 07/26 | &nbsp;&nbsp; 6540 | &nbsp;&nbsp; 666 |
| Gold 100 OZ Futures | &nbsp;&nbsp; 773 | 04/26 | &nbsp;&nbsp; 366796 | &nbsp;&nbsp; 11651 |
| Gold 100 OZ Futures | &nbsp;&nbsp; 22 | 06/26 | &nbsp;&nbsp; 10518 | &nbsp;&nbsp; 1012 |
| Iodex (Iron Ore) Futures | &nbsp;&nbsp; 1229 | 03/26 | &nbsp;&nbsp; 12756 | &nbsp;&nbsp; 37 |
| KC Hard Red Wheat Futures | &nbsp;&nbsp; 525 | 03/26 | &nbsp;&nbsp; 14300 | &nbsp;&nbsp; 377 |
| KC Hard Red Wheat Futures | &nbsp;&nbsp; 207 | 05/26 | &nbsp;&nbsp; 5744 | &nbsp;&nbsp; 202 |
| KC Hard Red Wheat Futures | &nbsp;&nbsp; 555 | 07/26 | &nbsp;&nbsp; 15748 | &nbsp;&nbsp; 46 |
| Lead Futures | &nbsp;&nbsp; 3 | 02/26 | &nbsp;&nbsp; 147 | &nbsp;&nbsp; (5)<br>|
| Lean Hogs Futures | &nbsp;&nbsp; 687 | 04/26 | &nbsp;&nbsp; 26147 | &nbsp;&nbsp; 658 |
| Lean Hogs Futures | &nbsp;&nbsp; 52 | 06/26 | &nbsp;&nbsp; 2245 | &nbsp;&nbsp; 155 |
| Live Cattle Futures | &nbsp;&nbsp; 506 | 04/26 | &nbsp;&nbsp; 47928 | &nbsp;&nbsp; (34)<br>|
| Live Cattle Futures | &nbsp;&nbsp; 34 | 06/26 | &nbsp;&nbsp; 3151 | &nbsp;&nbsp; 68 |
| LME Aluminum Futures | &nbsp;&nbsp; 74 | 02/26 | &nbsp;&nbsp; 5789 | &nbsp;&nbsp; 1189 |
| LME Aluminum Futures | &nbsp;&nbsp; 2187 | 03/26 | &nbsp;&nbsp; 171565 | &nbsp;&nbsp; 16545 |

---

------

⬤

------

**Embark Commodity Strategy Fund**

**CONSOLIDATED PORTFOLIO OF INVESTMENTS—Continued**

------

---

| | | | | |
|:---|:---|:---|:---|:---|
| **FUTURES CONTRACTS—Continued** | **FUTURES CONTRACTS—Continued** | **FUTURES CONTRACTS—Continued** | **FUTURES CONTRACTS—Continued** | **FUTURES CONTRACTS—Continued** |
| **LONG FUTURES CONTRACTS — Continued** | **LONG FUTURES CONTRACTS — Continued** | **LONG FUTURES CONTRACTS — Continued** | **LONG FUTURES CONTRACTS — Continued** | **LONG FUTURES CONTRACTS — Continued** |
| **Description** | **Number of**<br> **Contracts**<br>| **Expiration**<br> **Month**<br>| **Current**<br> **Notional**<br> **Value**<br> **(000s)**<br>| **Unrealized**<br> **Appreciation/**<br> **(Depreciation)**<br> **(000s)**<br>|
| LME Aluminum Futures | &nbsp;&nbsp; 532 | 05/26 | &nbsp;&nbsp; $41842 | &nbsp;&nbsp; $1321 |
| LME Aluminum Futures | &nbsp;&nbsp; 927 | 06/26 | &nbsp;&nbsp; 72968 | &nbsp;&nbsp; (249)<br>|
| LME Aluminum Futures | &nbsp;&nbsp; 114 | 07/26 | &nbsp;&nbsp; 8963 | &nbsp;&nbsp; 142 |
| LME Aluminum Futures | &nbsp;&nbsp; 226 | 09/26 | &nbsp;&nbsp; 17742 | &nbsp;&nbsp; (36)<br>|
| LME Copper Futures | &nbsp;&nbsp; 85 | 02/26 | &nbsp;&nbsp; 27821 | &nbsp;&nbsp; 5889 |
| LME Copper Futures | &nbsp;&nbsp; 583 | 03/26 | &nbsp;&nbsp; 191229 | &nbsp;&nbsp; 32011 |
| LME Copper Futures | &nbsp;&nbsp; 282 | 06/26 | &nbsp;&nbsp; 93035 | &nbsp;&nbsp; 1157 |
| LME Copper Futures | &nbsp;&nbsp; 10 | 07/26 | &nbsp;&nbsp; 3303 | &nbsp;&nbsp; 59 |
| LME Lead Futures | &nbsp;&nbsp; 598 | 03/26 | &nbsp;&nbsp; 29767 | &nbsp;&nbsp; (715)<br>|
| LME Lead Futures | &nbsp;&nbsp; 168 | 05/26 | &nbsp;&nbsp; 8490 | &nbsp;&nbsp; (112)<br>|
| LME Lead Futures | &nbsp;&nbsp; 310 | 06/26 | &nbsp;&nbsp; 15759 | &nbsp;&nbsp; (250)<br>|
| LME Lead Futures | &nbsp;&nbsp; 63 | 07/26 | &nbsp;&nbsp; 3221 | &nbsp;&nbsp; (63)<br>|
| LME Nickel Futures | &nbsp;&nbsp; 556 | 03/26 | &nbsp;&nbsp; 59551 | &nbsp;&nbsp; 7128 |
| LME Nickel Futures | &nbsp;&nbsp; 6 | 04/26 | &nbsp;&nbsp; 645 | &nbsp;&nbsp; 89 |
| LME Nickel Futures | &nbsp;&nbsp; 169 | 05/26 | &nbsp;&nbsp; 18244 | &nbsp;&nbsp; 735 |
| LME Nickel Futures | &nbsp;&nbsp; 225 | 06/26 | &nbsp;&nbsp; 24372 | &nbsp;&nbsp; 236 |
| LME Nickel Futures | &nbsp;&nbsp; 41 | 07/26 | &nbsp;&nbsp; 4454 | &nbsp;&nbsp; 70 |
| LME Tin Futures | &nbsp;&nbsp; 38 | 03/26 | &nbsp;&nbsp; 9857 | &nbsp;&nbsp; 2447 |
| LME Zinc Futures | &nbsp;&nbsp; 902 | 03/26 | &nbsp;&nbsp; 76938 | &nbsp;&nbsp; 7718 |
| LME Zinc Futures | &nbsp;&nbsp; 1 | 04/26 | &nbsp;&nbsp; 85 | &nbsp;&nbsp; 16 |
| LME Zinc Futures | &nbsp;&nbsp; 310 | 05/26 | &nbsp;&nbsp; 26368 | &nbsp;&nbsp; 1578 |
| LME Zinc Futures | &nbsp;&nbsp; 233 | 06/26 | &nbsp;&nbsp; 19763 | &nbsp;&nbsp; 845 |
| LME Zinc Futures | &nbsp;&nbsp; 55 | 07/26 | &nbsp;&nbsp; 4653 | &nbsp;&nbsp; 259 |
| LME Zinc Futures | &nbsp;&nbsp; 71 | 09/26 | &nbsp;&nbsp; 5985 | &nbsp;&nbsp; 552 |
| Miax Red Wheat Futures | &nbsp;&nbsp; 89 | 03/26 | &nbsp;&nbsp; 2573 | &nbsp;&nbsp; (13)<br>|
| Milling Wheat Futures | &nbsp;&nbsp; 1827 | 03/26 | &nbsp;&nbsp; 21034 | &nbsp;&nbsp; 131 |
| Natural Gas Futures | &nbsp;&nbsp; 1652 | 02/26 | &nbsp;&nbsp; 71928 | &nbsp;&nbsp; 13634 |
| Natural Gas Futures | &nbsp;&nbsp; 759 | 03/26 | &nbsp;&nbsp; 30565 | &nbsp;&nbsp; 9381 |
| Natural Gas Futures | &nbsp;&nbsp; 50 | 05/26 | &nbsp;&nbsp; 2077 | &nbsp;&nbsp; 537 |
| Natural Gas Futures | &nbsp;&nbsp; 1672 | 06/26 | &nbsp;&nbsp; 72448 | &nbsp;&nbsp; 10042 |
| Nickel Futures | &nbsp;&nbsp; 34 | 02/26 | &nbsp;&nbsp; 3620 | &nbsp;&nbsp; 533 |
| NY Harbor ULSD Futures | &nbsp;&nbsp; 445 | 02/26 | &nbsp;&nbsp; 47342 | &nbsp;&nbsp; 4443 |
| NY Harbor ULSD Futures | &nbsp;&nbsp; 13 | 05/26 | &nbsp;&nbsp; 1264 | &nbsp;&nbsp; 113 |
| NY Harbor ULSD Futures | &nbsp;&nbsp; 69 | 06/26 | &nbsp;&nbsp; 6647 | &nbsp;&nbsp; 565 |
| Palladium Futures | &nbsp;&nbsp; 14 | 03/26 | &nbsp;&nbsp; 2384 | &nbsp;&nbsp; 311 |
| Palladium Futures | &nbsp;&nbsp; 8 | 06/26 | &nbsp;&nbsp; 1384 | &nbsp;&nbsp; (153)<br>|
| Phelix DE Base Futures | &nbsp;&nbsp; 12 | 12/26 | &nbsp;&nbsp; 10621 | &nbsp;&nbsp; (14)<br>|
| Platinum Futures | &nbsp;&nbsp; 45 | 04/26 | &nbsp;&nbsp; 4774 | &nbsp;&nbsp; (381)<br>|
| Platinum Futures | &nbsp;&nbsp; 13 | 07/26 | &nbsp;&nbsp; 1392 | &nbsp;&nbsp; (123)<br>|
| Platinum Futures | &nbsp;&nbsp; 24 | 12/26 | &nbsp;&nbsp; 906 | &nbsp;&nbsp; 49 |
| Rapeseed Futures | &nbsp;&nbsp; 314 | 04/26 | &nbsp;&nbsp; 8798 | &nbsp;&nbsp; (18)<br>|
| RBOB Gasoline Futures | &nbsp;&nbsp; 89 | 02/26 | &nbsp;&nbsp; 7260 | &nbsp;&nbsp; 459 |
| RBOB Gasoline Futures | &nbsp;&nbsp; 14 | 05/26 | &nbsp;&nbsp; 1274 | &nbsp;&nbsp; 80 |
| RBOB Gasoline Futures | &nbsp;&nbsp; 385 | 06/26 | &nbsp;&nbsp; 34719 | &nbsp;&nbsp; 2396 |
| Robusta Coffee 10-T Futures | &nbsp;&nbsp; 215 | 03/26 | &nbsp;&nbsp; 8843 | &nbsp;&nbsp; 522 |
| Robusta Coffee 10-T Futures | &nbsp;&nbsp; 27 | 07/26 | &nbsp;&nbsp; 1063 | &nbsp;&nbsp; 24 |
| Silver Futures | &nbsp;&nbsp; 100 | 03/26 | &nbsp;&nbsp; 39266 | &nbsp;&nbsp; 8791 |

---

------

⬤

------

**Embark Commodity Strategy Fund**

**CONSOLIDATED PORTFOLIO OF INVESTMENTS—Continued**

------

---

| | | | | |
|:---|:---|:---|:---|:---|
| **FUTURES CONTRACTS—Continued** | **FUTURES CONTRACTS—Continued** | **FUTURES CONTRACTS—Continued** | **FUTURES CONTRACTS—Continued** | **FUTURES CONTRACTS—Continued** |
| **LONG FUTURES CONTRACTS — Continued** | **LONG FUTURES CONTRACTS — Continued** | **LONG FUTURES CONTRACTS — Continued** | **LONG FUTURES CONTRACTS — Continued** | **LONG FUTURES CONTRACTS — Continued** |
| **Description** | **Number of**<br> **Contracts**<br>| **Expiration**<br> **Month**<br>| **Current**<br> **Notional**<br> **Value**<br> **(000s)**<br>| **Unrealized**<br> **Appreciation/**<br> **(Depreciation)**<br> **(000s)**<br>|
| Silver Futures | &nbsp;&nbsp; 78 | 05/26 | &nbsp;&nbsp; $30865 | &nbsp;&nbsp; $(1205)<br>|
| Silver Futures | &nbsp;&nbsp; 15 | 07/26 | &nbsp;&nbsp; 5983 | &nbsp;&nbsp; (49)<br>|
| Silver Futures | &nbsp;&nbsp; 26 | 09/26 | &nbsp;&nbsp; 10441 | &nbsp;&nbsp; 964 |
| Soybean Futures | &nbsp;&nbsp; 1644 | 03/26 | &nbsp;&nbsp; 87481 | &nbsp;&nbsp; (677)<br>|
| Soybean Futures | &nbsp;&nbsp; 573 | 07/26 | &nbsp;&nbsp; 31243 | &nbsp;&nbsp; — |
| Soybean Futures | &nbsp;&nbsp; 136 | 08/26 | &nbsp;&nbsp; 7400 | &nbsp;&nbsp; (22)<br>|
| Soybean Meal Futures | &nbsp;&nbsp; 1192 | 03/26 | &nbsp;&nbsp; 34997 | &nbsp;&nbsp; (2891)<br>|
| Soybean Meal Futures | &nbsp;&nbsp; 1153 | 05/26 | &nbsp;&nbsp; 34302 | &nbsp;&nbsp; (256)<br>|
| Soybean Meal Futures | &nbsp;&nbsp; 74 | 07/26 | &nbsp;&nbsp; 2239 | &nbsp;&nbsp; (42)<br>|
| Soybean Meal Futures | &nbsp;&nbsp; 23 | 09/26 | &nbsp;&nbsp; 702 | &nbsp;&nbsp; (4)<br>|
| Soybean Oil Futures | &nbsp;&nbsp; 808 | 03/26 | &nbsp;&nbsp; 25942 | &nbsp;&nbsp; 756 |
| Soybean Oil Futures | &nbsp;&nbsp; 96 | 05/26 | &nbsp;&nbsp; 3114 | &nbsp;&nbsp; (30)<br>|
| Soybean Oil Futures | &nbsp;&nbsp; 1040 | 07/26 | &nbsp;&nbsp; 33939 | &nbsp;&nbsp; 1929 |
| Soybean Oil Futures | &nbsp;&nbsp; 44 | 09/26 | &nbsp;&nbsp; 1423 | &nbsp;&nbsp; (15)<br>|
| Sugar No. 11 Futures | &nbsp;&nbsp; 4221 | 02/26 | &nbsp;&nbsp; 67462 | &nbsp;&nbsp; (6241)<br>|
| Sugar No. 11 Futures | &nbsp;&nbsp; 1093 | 04/26 | &nbsp;&nbsp; 16942 | &nbsp;&nbsp; (286)<br>|
| Sugar No. 11 Futures | &nbsp;&nbsp; 158 | 06/26 | &nbsp;&nbsp; 2451 | &nbsp;&nbsp; (113)<br>|
| UK Natural Gas Futures | &nbsp;&nbsp; 455 | 02/26 | &nbsp;&nbsp; 18374 | &nbsp;&nbsp; 3724 |
| Wheat Futures | &nbsp;&nbsp; 823 | 03/26 | &nbsp;&nbsp; 22139 | &nbsp;&nbsp; 585 |
| Wheat Futures | &nbsp;&nbsp; 217 | 05/26 | &nbsp;&nbsp; 5924 | &nbsp;&nbsp; 85 |
| Wheat Futures | &nbsp;&nbsp; 335 | 07/26 | &nbsp;&nbsp; 9309 | &nbsp;&nbsp; 61 |
| White Sugar Futures | &nbsp;&nbsp; 432 | 04/26 | &nbsp;&nbsp; 8843 | &nbsp;&nbsp; (289)<br>|
| White Sugar Futures | &nbsp;&nbsp; 48 | 07/26 | &nbsp;&nbsp; 972 | &nbsp;&nbsp; (37)<br>|
| WTI Crude Oil Futures | &nbsp;&nbsp; 1359 | 02/26 | &nbsp;&nbsp; 88620 | &nbsp;&nbsp; 9554 |
| WTI Crude Oil Futures | &nbsp;&nbsp; 429 | 03/26 | &nbsp;&nbsp; 27773 | &nbsp;&nbsp; 2222 |
| WTI Crude Oil Futures | &nbsp;&nbsp; 91 | 05/26 | &nbsp;&nbsp; 5818 | &nbsp;&nbsp; 458 |
| WTI Crude Oil Futures | &nbsp;&nbsp; 15 | 06/26 | &nbsp;&nbsp; 953 | &nbsp;&nbsp; 71 |
| Zinc Futures | &nbsp;&nbsp; 23 | 02/26 | &nbsp;&nbsp; 1952 | &nbsp;&nbsp; 184 |
| &nbsp;&nbsp;&nbsp; Total Long Futures Contracts | &nbsp;&nbsp;&nbsp; Total Long Futures Contracts | &nbsp;&nbsp;&nbsp; Total Long Futures Contracts | &nbsp;&nbsp;&nbsp; Total Long Futures Contracts | &nbsp;&nbsp; $170773 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | |
|:---|:---|:---|:---|:---|
| **SHORT FUTURES CONTRACTS** | **SHORT FUTURES CONTRACTS** | **SHORT FUTURES CONTRACTS** | **SHORT FUTURES CONTRACTS** | **SHORT FUTURES CONTRACTS** |
| **Description** | **Number of** <br>**Contracts**<br>| **Expiration** <br>**Month**<br>| **Current** <br>**Notional** <br>**Value** <br>**(000s)**<br>| **Unrealized** <br>**Appreciation/** <br>**(Depreciation)** <br>**(000s)**<br>|
| Aluminum Futures | &nbsp;&nbsp; 44 | 02/26 | &nbsp;&nbsp; $3431 | &nbsp;&nbsp; $(273)<br>|
| Brent Crude Futures | &nbsp;&nbsp; 11 | 03/26 | &nbsp;&nbsp; 755 | &nbsp;&nbsp; (34)<br>|
| Cocoa Futures | &nbsp;&nbsp; 85 | 03/26 | &nbsp;&nbsp; 3421 | &nbsp;&nbsp; 1051 |
| Coffee C Futures | &nbsp;&nbsp; 80 | 05/26 | &nbsp;&nbsp; 9460 | &nbsp;&nbsp; 413 |
| Copper Futures | &nbsp;&nbsp; 16 | 02/26 | &nbsp;&nbsp; 5228 | &nbsp;&nbsp; (944)<br>|
| Copper Futures | &nbsp;&nbsp; 5 | 03/26 | &nbsp;&nbsp; 740 | &nbsp;&nbsp; (18)<br>|
| Copper Futures | &nbsp;&nbsp; 5 | 05/26 | &nbsp;&nbsp; 748 | &nbsp;&nbsp; 6 |
| Cotton No. 2 Futures | &nbsp;&nbsp; 85 | 03/26 | &nbsp;&nbsp; 2685 | &nbsp;&nbsp; 41 |
| ECX Emissions Futures | &nbsp;&nbsp; 76 | 12/26 | &nbsp;&nbsp; 7320 | &nbsp;&nbsp; 507 |
| Gas Oil Low Sulphur Futures | &nbsp;&nbsp; 10 | 03/26 | &nbsp;&nbsp; 729 | &nbsp;&nbsp; (78)<br>|
| KC Hard Red Wheat Futures | &nbsp;&nbsp; 98 | 03/26 | &nbsp;&nbsp; 2669 | &nbsp;&nbsp; (99)<br>|
| Lead Futures | &nbsp;&nbsp; 3 | 02/26 | &nbsp;&nbsp; 147 | &nbsp;&nbsp; 4 |

---

------

⬤

------

**Embark Commodity Strategy Fund**

**CONSOLIDATED PORTFOLIO OF INVESTMENTS—Continued**

------

---

| | | | | |
|:---|:---|:---|:---|:---|
| **FUTURES CONTRACTS—Continued** | **FUTURES CONTRACTS—Continued** | **FUTURES CONTRACTS—Continued** | **FUTURES CONTRACTS—Continued** | **FUTURES CONTRACTS—Continued** |
| **SHORT FUTURES CONTRACTS — Continued** | **SHORT FUTURES CONTRACTS — Continued** | **SHORT FUTURES CONTRACTS — Continued** | **SHORT FUTURES CONTRACTS — Continued** | **SHORT FUTURES CONTRACTS — Continued** |
| **Description** | **Number of**<br> **Contracts**<br>| **Expiration**<br> **Month**<br>| **Current**<br> **Notional**<br> **Value**<br> **(000s)**<br>| **Unrealized**<br> **Appreciation/**<br> **(Depreciation)**<br> **(000s)**<br>|
| LME Aluminum Futures | &nbsp;&nbsp; 74 | 02/26 | &nbsp;&nbsp; $5789 | &nbsp;&nbsp; $(1037)<br>|
| LME Aluminum Futures | &nbsp;&nbsp; 1919 | 03/26 | &nbsp;&nbsp; 150541 | &nbsp;&nbsp; (5611)<br>|
| LME Aluminum Futures | &nbsp;&nbsp; 130 | 05/26 | &nbsp;&nbsp; 10225 | &nbsp;&nbsp; (300)<br>|
| LME Aluminum Futures | &nbsp;&nbsp; 72 | 06/26 | &nbsp;&nbsp; 5667 | &nbsp;&nbsp; (148)<br>|
| LME Aluminum Futures | &nbsp;&nbsp; 56 | 07/26 | &nbsp;&nbsp; 4403 | &nbsp;&nbsp; 3 |
| LME Aluminum Futures | &nbsp;&nbsp; 8 | 09/26 | &nbsp;&nbsp; 628 | &nbsp;&nbsp; 22 |
| LME Copper Futures | &nbsp;&nbsp; 85 | 02/26 | &nbsp;&nbsp; 27821 | &nbsp;&nbsp; (4812)<br>|
| LME Copper Futures | &nbsp;&nbsp; 564 | 03/26 | &nbsp;&nbsp; 184997 | &nbsp;&nbsp; (10451)<br>|
| LME Copper Futures | &nbsp;&nbsp; 68 | 06/26 | &nbsp;&nbsp; 22434 | &nbsp;&nbsp; 127 |
| LME Lead Futures | &nbsp;&nbsp; 597 | 03/26 | &nbsp;&nbsp; 29717 | &nbsp;&nbsp; 339 |
| LME Lead Futures | &nbsp;&nbsp; 214 | 05/26 | &nbsp;&nbsp; 10815 | &nbsp;&nbsp; 12 |
| LME Lead Futures | &nbsp;&nbsp; 7 | 07/26 | &nbsp;&nbsp; 358 | &nbsp;&nbsp; 4 |
| LME Nickel Futures | &nbsp;&nbsp; 533 | 03/26 | &nbsp;&nbsp; 57087 | &nbsp;&nbsp; (3485)<br>|
| LME Nickel Futures | &nbsp;&nbsp; 6 | 04/26 | &nbsp;&nbsp; 645 | &nbsp;&nbsp; (87)<br>|
| LME Nickel Futures | &nbsp;&nbsp; 28 | 05/26 | &nbsp;&nbsp; 3023 | &nbsp;&nbsp; (120)<br>|
| LME Nickel Futures | &nbsp;&nbsp; 14 | 06/26 | &nbsp;&nbsp; 1517 | &nbsp;&nbsp; (46)<br>|
| LME Nickel Futures | &nbsp;&nbsp; 6 | 07/26 | &nbsp;&nbsp; 652 | &nbsp;&nbsp; (4)<br>|
| LME Tin Futures | &nbsp;&nbsp; 30 | 03/26 | &nbsp;&nbsp; 7782 | &nbsp;&nbsp; — |
| LME Zinc Futures | &nbsp;&nbsp; 810 | 03/26 | &nbsp;&nbsp; 69091 | &nbsp;&nbsp; (5591)<br>|
| LME Zinc Futures | &nbsp;&nbsp; 1 | 04/26 | &nbsp;&nbsp; 85 | &nbsp;&nbsp; (16)<br>|
| LME Zinc Futures | &nbsp;&nbsp; 56 | 05/26 | &nbsp;&nbsp; 4763 | &nbsp;&nbsp; (228)<br>|
| LME Zinc Futures | &nbsp;&nbsp; 30 | 06/26 | &nbsp;&nbsp; 2545 | &nbsp;&nbsp; (80)<br>|
| LME Zinc Futures | &nbsp;&nbsp; 7 | 07/26 | &nbsp;&nbsp; 592 | &nbsp;&nbsp; (10)<br>|
| LME Zinc Futures | &nbsp;&nbsp; 71 | 09/26 | &nbsp;&nbsp; 5985 | &nbsp;&nbsp; (238)<br>|
| Milling Wheat Futures | &nbsp;&nbsp; 201 | 03/26 | &nbsp;&nbsp; 2314 | &nbsp;&nbsp; (22)<br>|
| Nickel Futures | &nbsp;&nbsp; 34 | 02/26 | &nbsp;&nbsp; 3620 | &nbsp;&nbsp; (533)<br>|
| NY Harbor ULSD Futures | &nbsp;&nbsp; 31 | 02/26 | &nbsp;&nbsp; 3298 | &nbsp;&nbsp; (281)<br>|
| NY Harbor ULSD Futures | &nbsp;&nbsp; 130 | 03/26 | &nbsp;&nbsp; 13211 | &nbsp;&nbsp; (414)<br>|
| Palladium Futures | &nbsp;&nbsp; 8 | 03/26 | &nbsp;&nbsp; 1362 | &nbsp;&nbsp; 180 |
| RBOB Gasoline Futures | &nbsp;&nbsp; 53 | 02/26 | &nbsp;&nbsp; 4323 | &nbsp;&nbsp; (159)<br>|
| RBOB Gasoline Futures | &nbsp;&nbsp; 168 | 03/26 | &nbsp;&nbsp; 15312 | &nbsp;&nbsp; (757)<br>|
| Soybean Futures | &nbsp;&nbsp; 15 | 03/26 | &nbsp;&nbsp; 798 | &nbsp;&nbsp; (19)<br>|
| Soybean Futures | &nbsp;&nbsp; 220 | 05/26 | &nbsp;&nbsp; 11847 | &nbsp;&nbsp; (175)<br>|
| Soybean Meal Futures | &nbsp;&nbsp; 20 | 03/26 | &nbsp;&nbsp; 587 | &nbsp;&nbsp; 5 |
| Wheat Futures | &nbsp;&nbsp; 17 | 03/26 | &nbsp;&nbsp; 457 | &nbsp;&nbsp; (24)<br>|
| WTI Crude Oil Futures | &nbsp;&nbsp; 7 | 02/26 | &nbsp;&nbsp; 456 | &nbsp;&nbsp; (20)<br>|
| WTI Crude Oil Futures | &nbsp;&nbsp; 82 | 03/26 | &nbsp;&nbsp; 5309 | &nbsp;&nbsp; (368)<br>|
| Zinc Futures | &nbsp;&nbsp; 23 | 02/26 | &nbsp;&nbsp; 1952 | &nbsp;&nbsp; (187)<br>|
| &nbsp;&nbsp;&nbsp; Total Short Futures Contracts | &nbsp;&nbsp;&nbsp; Total Short Futures Contracts | &nbsp;&nbsp;&nbsp; Total Short Futures Contracts | &nbsp;&nbsp;&nbsp; Total Short Futures Contracts | &nbsp;&nbsp; $(33955)<br>|
| &nbsp;&nbsp;&nbsp; Total Futures Contracts | &nbsp;&nbsp;&nbsp; Total Futures Contracts | &nbsp;&nbsp;&nbsp; Total Futures Contracts | &nbsp;&nbsp;&nbsp; Total Futures Contracts | &nbsp;&nbsp; $136818 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

------

⬤

------

**Embark Commodity Strategy Fund**

**CONSOLIDATED PORTFOLIO OF INVESTMENTS—Continued**

------

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **PURCHASED OPTIONS** | **PURCHASED OPTIONS** | **PURCHASED OPTIONS** | **PURCHASED OPTIONS** | **PURCHASED OPTIONS** | **PURCHASED OPTIONS** | **PURCHASED OPTIONS** |
| **CALL PURCHASED OPTIONS** |  |  |  |  |  |  |
| **Description** | **Exercise** <br>**Price**<br>| **Expiration** <br>**Date**<br>| **Number of** <br>**Contracts**<br>| **Notional** <br> **Amount** <br> **(000s)**<br>| **Cost** <br>**(000s)**<br>| **Value** <br>**(000s)**<br>|
| Corn Futures Option | $440.00 | 02/20/2026 | 3535 | $75693 | $406 | $354 |
| Corn Futures Option | 500.00 | 06/26/2026 | 885 | 19559 | 229 | 216 |
| Crude Oil Futures Option | 70.00 | 04/16/2026 | 144 | 9262 | 287 | 503 |
| Crude Oil Futures Option | 80.00 | 04/16/2026 | 304 | 19553 | 285 | 544 |
| Crude Oil Futures Option | 90.00 | 04/16/2026 | 518 | 33318 | 280 | 549 |
| Crude Oil Futures Option | 70.00 | 06/16/2026 | 130 | 8262 | 308 | 517 |
| Crude Oil Futures Option | 80.00 | 11/17/2026 | 430 | 26664 | 778 | 959 |
| Crude Oil Futures Option | 90.00 | 11/17/2026 | 743 | 46073 | 785 | 1018 |
| HG Copper Futures Option | 675.00 | 06/25/2026 | 46 | 6941 | 380 | 4 |
| Soybean Futures Option | 1200.00 | 06/26/2026 | 470 | 25627 | 219 | 220 |
| Soybean Oil Futures Option | 60.00 | 06/26/2026 | 191 | 6233 | 238 | 206 |
| Sugar Futures Option | 16.00 | 06/15/2026 | 965 | 14969 | 253 | 205 |
| Wheat Futures Option | 600.00 | 06/26/2026 | 262 | 7280 | 228 | 260 |
| &nbsp;&nbsp;&nbsp; Total Call Purchased Options | &nbsp;&nbsp;&nbsp; Total Call Purchased Options | &nbsp;&nbsp;&nbsp; Total Call Purchased Options | &nbsp;&nbsp;&nbsp; Total Call Purchased Options | &nbsp;&nbsp;&nbsp; Total Call Purchased Options | $4676 | $5555 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **PUT PURCHASED OPTIONS** | **PUT PURCHASED OPTIONS** | **PUT PURCHASED OPTIONS** | **PUT PURCHASED OPTIONS** | **PUT PURCHASED OPTIONS** | **PUT PURCHASED OPTIONS** | **PUT PURCHASED OPTIONS** |
| **Description** | **Exercise** <br>**Price**<br>| **Expiration** <br>**Date**<br>| **Number of** <br>**Contracts**<br>| **Notional** <br> **Amount** <br> **(000s)**<br>| **Cost** <br>**(000s)**<br>| **Value** <br>**(000s)**<br>|
| Silver Futures Option | $60.00 | 05/26/2026 | 13 | $5185 | $153 | $291 |
| &nbsp;&nbsp;&nbsp; Total Purchased Options | &nbsp;&nbsp;&nbsp; Total Purchased Options | &nbsp;&nbsp;&nbsp; Total Purchased Options | &nbsp;&nbsp;&nbsp; Total Purchased Options | &nbsp;&nbsp;&nbsp; Total Purchased Options | $4829 | $5846 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **SWAP AGREEMENTS** | **SWAP AGREEMENTS** | **SWAP AGREEMENTS** | **SWAP AGREEMENTS** | **SWAP AGREEMENTS** | **SWAP AGREEMENTS** | **SWAP AGREEMENTS** | **SWAP AGREEMENTS** | **SWAP AGREEMENTS** |
| **OVER-THE-COUNTER (OTC) EXCESS RETURN SWAPS** | **OVER-THE-COUNTER (OTC) EXCESS RETURN SWAPS** | **OVER-THE-COUNTER (OTC) EXCESS RETURN SWAPS** | **OVER-THE-COUNTER (OTC) EXCESS RETURN SWAPS** | **OVER-THE-COUNTER (OTC) EXCESS RETURN SWAPS** | **OVER-THE-COUNTER (OTC) EXCESS RETURN SWAPS** | **OVER-THE-COUNTER (OTC) EXCESS RETURN SWAPS** | **OVER-THE-COUNTER (OTC) EXCESS RETURN SWAPS** | **OVER-THE-COUNTER (OTC) EXCESS RETURN SWAPS** |
| **Counterparty** | **Fixed** <br>**Rate**<br>| **Pay/Receive** <br>**Fixed Rate**<br>| **Expiration** <br>**Date**<br>| **Payment** <br>**Frequency**<br>| **Notional** <br>**Amount** <br>**(000s)**<br>| **Value** <br>**(000s)**<br>| **Upfront** <br>**Premiums** <br>**(Received)/** <br>**Paid** <br>**(000s)**<br>| **Unrealized** <br>**Appreciation/** <br>**(Depreciation)** <br>**(000s)**<br>|
| Macquarie Bank Limited | 0.137% | Pay<br> Macquarie MQCP338E Index<sup>4</sup> <br>| 02/27/2026 | Monthly | $556492 | $2 | $— | $2 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **SWAP AGREEMENTSSWAP AGREEMENTS** | **SWAP AGREEMENTSSWAP AGREEMENTS** | **SWAP AGREEMENTSSWAP AGREEMENTS** | **SWAP AGREEMENTSSWAP AGREEMENTS** | **SWAP AGREEMENTSSWAP AGREEMENTS** | **SWAP AGREEMENTSSWAP AGREEMENTS** | **SWAP AGREEMENTSSWAP AGREEMENTS** | **SWAP AGREEMENTSSWAP AGREEMENTS** | **SWAP AGREEMENTSSWAP AGREEMENTS** | **SWAP AGREEMENTSSWAP AGREEMENTS** |
| **OVER-THE-COUNTER (OTC) TOTAL RETURN SWAPS** | **OVER-THE-COUNTER (OTC) TOTAL RETURN SWAPS** | **OVER-THE-COUNTER (OTC) TOTAL RETURN SWAPS** | **OVER-THE-COUNTER (OTC) TOTAL RETURN SWAPS** | **OVER-THE-COUNTER (OTC) TOTAL RETURN SWAPS** | **OVER-THE-COUNTER (OTC) TOTAL RETURN SWAPS** | **OVER-THE-COUNTER (OTC) TOTAL RETURN SWAPS** | **OVER-THE-COUNTER (OTC) TOTAL RETURN SWAPS** | **OVER-THE-COUNTER (OTC) TOTAL RETURN SWAPS** | **OVER-THE-COUNTER (OTC) TOTAL RETURN SWAPS** |
| **Counterparty** | **Fixed** <br>**Rate**<br>| **Pay/Receive** <br>**Fixed Rate**<br>| **Reference Index** | **Expiration** <br>**Date**<br>| **Payment** <br>**Frequency**<br>| **Notional** <br>**Amount** <br>**(000s)**<br>| **Value** <br>**(000s)**<br>| **Upfront** <br>**Premiums** <br>**(Received)/** <br>**Paid** <br>**(000s)**<br>| **Unrealized** <br>**Appreciation/** <br>**(Depreciation)** <br>**(000s)**<br>|
| Citigroup Global Markets | 0.110% | Pay | Bloomberg Commodity 3-Month <br> Forward Total Return Index<br>| 10/30/2026 | Monthly | $149441 | $— | $— | $— |
| Citigroup Global Markets | 0.240% | Pay | FTSE/Core Commodity CRB <br> 3-Month Forward Total Return <br> Index<br>| 02/27/2026 | Monthly | 54980 |  |  |  |
| RBC Dominion Securities | 0.120% | Pay | Bloomberg Commodity 3-Month <br> Forward Total Return Index<br>| 10/30/2026 | Monthly | 180722 |  |  |  |
| RBC Dominion Securities | 0.290% | Pay | FTSE/Core Commodity CRB <br> 3-Month Forward Total Return <br> Index<br>| 02/27/2026 | Monthly | 24762 |  |  |  |
| &nbsp;&nbsp;&nbsp; Total Over-the-Counter Total Return Swaps | &nbsp;&nbsp;&nbsp; Total Over-the-Counter Total Return Swaps | &nbsp;&nbsp;&nbsp; Total Over-the-Counter Total Return Swaps | &nbsp;&nbsp;&nbsp; Total Over-the-Counter Total Return Swaps | &nbsp;&nbsp;&nbsp; Total Over-the-Counter Total Return Swaps | &nbsp;&nbsp;&nbsp; Total Over-the-Counter Total Return Swaps | &nbsp;&nbsp;&nbsp; Total Over-the-Counter Total Return Swaps | $— | $— | $— |
| &nbsp;&nbsp;&nbsp; Total Swaps | &nbsp;&nbsp;&nbsp; Total Swaps | &nbsp;&nbsp;&nbsp; Total Swaps | &nbsp;&nbsp;&nbsp; Total Swaps | &nbsp;&nbsp;&nbsp; Total Swaps | &nbsp;&nbsp;&nbsp; Total Swaps | &nbsp;&nbsp;&nbsp; Total Swaps | $2 | $— | $2 |

---

------

⬤

------

**Embark Commodity Strategy Fund**

**CONSOLIDATED PORTFOLIO OF INVESTMENTS—Continued**

------

**FAIR VALUE MEASUREMENTS**

As of January 31, 2026 the investments in futures contracts and options (as disclosed in the preceding Futures Contracts and Purchased Options schedules) 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.

------

---

| | |
|:---|:---|
| † | Coupon represents yield to maturity |
| 1 | Variable or floating rate security; the stated rate represents the rate in effect as of January 31, 2026. The variable rate for such securities may <br> 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 <br> determined by current interest rates, prepayments or other financial indicators.<br>|
| 2 | Securities purchased in a transaction exempt from registration under Rule 144A of the Securities Act of 1933. These securities may be resold <br> in transactions exempt from registration, normally to qualified institutional buyers. The Fund has no right to demand registration of these <br> securities. As of January 31, 2026, the aggregate value of these securities was $24,766 or 1% of net assets.<br>|
| 3 | As of January 31, 2026, all or a portion of this security was pledged or restricted as collateral for futures contracts or OTC swaps. The pledged <br> or restricted securities had an aggregate value of $50,748.<br>|
| 4 | The index is comprised of publicly traded futures contracts on physical commodities. The table below represents the reference index components <br> as of January 31, 2026.<br>|

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| **Commodity** | **Weight** |
| Gold | 45.3% |
| RBOB Gasoline | 7.8 |
| GasOil | 7.6 |
| Soybeans | 6.5 |
| Heating Oil | 5.9 |
| Copper | 4.1 |
| Aluminum | 4.0 |
| Nickel | 4.0 |
| Brent Crude Oil | 2.6 |
| Lean Hogs | 1.8 |
| Soybean Oil | 1.8 |
| Zinc | 1.8 |
| Comex Copper | 1.7 |
| Cotton | 1.7 |
| KC Wheat | 1.7 |
| Sugar | 1.7 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

MTN Medium Term Note

The accompanying notes are an integral part of the Portfolios of Investments.

------

⬤

------

**Embark Small Cap Equity Fund**

**PORTFOLIO OF INVESTMENTS—January 31, 2026 (Unaudited)**

------

*Value and Cost in Thousands*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
| **COMMON STOCKS—98.7%** | **COMMON STOCKS—98.7%** | **COMMON STOCKS—98.7%** |
| **Shares** |  | **Value** |
| **AEROSPACE & DEFENSE—2.7%** | **AEROSPACE & DEFENSE—2.7%** | **AEROSPACE & DEFENSE—2.7%** |
| 8253 | BWX Technologies, Inc.  | $1696 |
| 47570 | Cadre Holdings, Inc.  | 1903 |
| 11130 | Carpenter Technology Corp.  | 3538 |
| 7463 | Hexcel Corp.  | 618 |
| 17219 | Karman Holdings, Inc. <sup>\*</sup> | 1787 |
| 15652 | Kratos Defense & Security Solutions, Inc. <sup>\*</sup> | 1612 |
| 45296 | Red Cat Holdings, Inc. <sup>\*</sup> | 612 |
| 58758 | Redwire Corp. <sup>\*</sup> | 690 |
| 31326 | V2X, Inc. <sup>\*</sup> | 2156 |
|  |  | 14612 |
| **AUTOMOBILE COMPONENTS—0.8%** | **AUTOMOBILE COMPONENTS—0.8%** | **AUTOMOBILE COMPONENTS—0.8%** |
| 57927 | Adient PLC <sup>\*</sup> | 1205 |
| 8068 | Dorman Products, Inc. <sup>\*</sup> | 1002 |
| 15065 | Lear Corp.  | 1764 |
| 2216 | Patrick Industries, Inc.  | 279 |
|  |  | 4250 |
| **BANKS—5.1%** | **BANKS—5.1%** | **BANKS—5.1%** |
| 13110 | Ameris Bancorp  | 1057 |
| 31050 | Associated Banc-Corp.  | 846 |
| 34523 | Bank of NT Butterfield & Son Ltd. (Bermuda) | 1788 |
| 13797 | East West Bancorp, Inc.  | 1579 |
| 1591 | First Citizens BancShares, Inc. Class A | 3293 |
| 156258 | First Hawaiian, Inc.  | 4149 |
| 109623 | First Interstate BancSystem, Inc. Class A | 3888 |
| 20610 | Home BancShares, Inc.  | 596 |
| 12476 | Independent Bank Corp.  | 1008 |
| 16401 | International Bancshares Corp.  | 1142 |
| 33919 | Pinnacle Financial Partners, Inc.  | 3225 |
| 11796 | Popular, Inc. (Puerto Rico) | 1575 |
| 7349 | Prosperity Bancshares, Inc.  | 507 |
| 3546 | WaFd, Inc.  | 116 |
| 19752 | Wintrust Financial Corp.  | 2913 |
| 8138 | Zions Bancorp NA  | 488 |
|  |  | 28170 |
| **BEVERAGES—0.2%** | **BEVERAGES—0.2%** | **BEVERAGES—0.2%** |
| 18394 | Vita Coco Co., Inc. <sup>\*</sup> | 981 |
| **BIOTECHNOLOGY—3.0%** | **BIOTECHNOLOGY—3.0%** | **BIOTECHNOLOGY—3.0%** |
| 10953 | Abivax SA ADR (France)<sup>\*,1</sup> | 1217 |
| 65787 | ADMA Biologics, Inc. <sup>\*</sup> | 1138 |
| 20690 | Ascendis Pharma AS ADR (Denmark)<sup>\*,1</sup> | 4678 |
| 40802 | Bicycle Therapeutics PLC ADR (United Kingdom)<sup>\*,1</sup> | 262 |
| 5044 | Celcuity, Inc. <sup>\*</sup> | 552 |
| 19759 | Immunome, Inc. <sup>\*</sup> | 486 |
| 21435 | Kiniksa Pharmaceuticals International PLC <sup>\*</sup> | 941 |
| 29817 | Legend Biotech Corp. ADR<sup>\*,1</sup> | 522 |
| 306213 | MiMedx Group, Inc. <sup>\*</sup> | 1565 |
| 10113 | Revolution Medicines, Inc. <sup>\*</sup> | 980 |
| 12855 | Rhythm Pharmaceuticals, Inc. <sup>\*</sup> | 1318 |
| 30887 | Vaxcyte, Inc. <sup>\*</sup> | 1655 |
| 16686 | Viking Therapeutics, Inc. <sup>\*</sup> | 485 |
| 10463 | Xenon Pharmaceuticals, Inc. (Canada)<sup>\*</sup> | 429 |
|  |  | 16228 |
| **BROADLINE RETAIL—0.0%** | **BROADLINE RETAIL—0.0%** | **BROADLINE RETAIL—0.0%** |
| 20974 | Pattern Group, Inc. Class A<sup>\*</sup> | 290 |
| **BUILDING PRODUCTS—2.2%** | **BUILDING PRODUCTS—2.2%** | **BUILDING PRODUCTS—2.2%** |
| 7141 | AAON, Inc.  | 650 |
| 4269 | AZZ, Inc.  | 531 |
| 1498 | Carlisle Cos., Inc.  | 511 |
| 8002 | CSW Industrials, Inc.  | 2160 |
| 42261 | Modine Manufacturing Co. <sup>\*</sup> | 7804 |
| 40255 | Tecogen, Inc. <sup>\*</sup> | 151 |

---

---

| | | |
|:---|:---|:---|
| **COMMON STOCKS—Continued** | **COMMON STOCKS—Continued** | **COMMON STOCKS—Continued** |
| **Shares** |  | **Value** |
| **BUILDING PRODUCTS—Continued** | **BUILDING PRODUCTS—Continued** | **BUILDING PRODUCTS—Continued** |
| 3849 | UFP Industries, Inc.  | $397 |
|  |  | 12204 |
| **CAPITAL MARKETS—4.2%** | **CAPITAL MARKETS—4.2%** | **CAPITAL MARKETS—4.2%** |
| 67301 | Artisan Partners Asset Management, Inc. Class A | 2996 |
| 6588 | Cohen & Steers, Inc.  | 423 |
| 50813 | Donnelley Financial Solutions, Inc. <sup>\*</sup> | 2630 |
| 1705 | FactSet Research Systems, Inc.  | 434 |
| 10803 | Hamilton Lane, Inc. Class A | 1526 |
| 9370 | Houlihan Lokey, Inc.  | 1577 |
| 2486 | Morningstar, Inc.  | 503 |
| 13798 | StepStone Group, Inc. Class A | 975 |
| 15923 | Stifel Financial Corp.  | 1963 |
| 85608 | StoneX Group, Inc. <sup>\*</sup> | 9610 |
| 72677 | SuRo Capital Corp.  | 679 |
|  |  | 23316 |
| **CHEMICALS—3.5%** | **CHEMICALS—3.5%** | **CHEMICALS—3.5%** |
| 53528 | Ashland, Inc.  | 3274 |
| 26547 | Avient Corp.  | 960 |
| 91414 | Axalta Coating Systems Ltd. <sup>\*</sup> | 3070 |
| 575303 | Ecovyst, Inc. <sup>\*</sup> | 6104 |
| 25248 | Element Solutions, Inc.  | 735 |
| 124116 | Neo Performance Materials, Inc. (Canada) | 1746 |
| 139515 | Olin Corp.  | 2903 |
| 1576 | Quaker Chemical Corp.  | 242 |
|  |  | 19034 |
| **COMMERCIAL SERVICES & SUPPLIES—1.9%** | **COMMERCIAL SERVICES & SUPPLIES—1.9%** | **COMMERCIAL SERVICES & SUPPLIES—1.9%** |
| 173280 | BrightView Holdings, Inc. <sup>\*</sup> | 2315 |
| 8354 | Brink's Co.  | 1061 |
| 15573 | Casella Waste Systems, Inc. Class A<sup>\*</sup> | 1571 |
| 11860 | GFL Environmental, Inc.  | 509 |
| 90420 | Liquidity Services, Inc. <sup>\*</sup> | 2894 |
| 7225 | MillerKnoll, Inc.  | 145 |
| 33145 | Montrose Environmental Group, Inc. <sup>\*</sup> | 739 |
| 28557 | Quad/Graphics, Inc.  | 175 |
| 13781 | Tetra Tech, Inc.  | 519 |
| 2554 | UniFirst Corp.  | 549 |
|  |  | 10477 |
| **COMMUNICATIONS EQUIPMENT—1.0%** | **COMMUNICATIONS EQUIPMENT—1.0%** | **COMMUNICATIONS EQUIPMENT—1.0%** |
| 29379 | Calix, Inc. <sup>\*</sup> | 1312 |
| 15671 | F5, Inc. <sup>\*</sup> | 4319 |
|  |  | 5631 |
| **CONSTRUCTION & ENGINEERING—3.6%** | **CONSTRUCTION & ENGINEERING—3.6%** | **CONSTRUCTION & ENGINEERING—3.6%** |
| 61913 | Ameresco, Inc. Class A<sup>\*</sup> | 1940 |
| 27494 | API Group Corp. <sup>\*</sup> | 1143 |
| 53167 | Arcosa, Inc.  | 6086 |
| 2651 | Comfort Systems USA, Inc.  | 3028 |
| 53658 | Fluor Corp. <sup>\*</sup> | 2479 |
| 27977 | Legence Corp. Class A<sup>\*</sup> | 1312 |
| 12615 | Primoris Services Corp.  | 1870 |
| 3224 | Sterling Infrastructure, Inc. <sup>\*</sup> | 1154 |
| 1734 | Valmont Industries, Inc.  | 773 |
|  |  | 19785 |
| **CONSUMER FINANCE—2.5%** | **CONSUMER FINANCE—2.5%** | **CONSUMER FINANCE—2.5%** |
| 2719 | Dave, Inc. <sup>\*</sup> | 445 |
| 23738 | Enova International, Inc. <sup>\*</sup> | 3921 |
| 8821 | FirstCash Holdings, Inc.  | 1504 |
| 92962 | Jefferson Capital, Inc.  | 1986 |
| 51833 | LendingTree, Inc. <sup>\*</sup> | 2937 |
| 100996 | SLM Corp.  | 2742 |
|  |  | 13535 |

---

------

⬤

------

**Embark Small Cap Equity Fund**

**PORTFOLIO OF INVESTMENTS—Continued**

------

*Value and Cost in Thousands* 

---

| | | |
|:---|:---|:---|
| **COMMON STOCKS—Continued** | **COMMON STOCKS—Continued** | **COMMON STOCKS—Continued** |
| **Shares** |  | **Value** |
| **CONSUMER STAPLES DISTRIBUTION & RETAIL—1.2%** | **CONSUMER STAPLES DISTRIBUTION & RETAIL—1.2%** | **CONSUMER STAPLES DISTRIBUTION & RETAIL—1.2%** |
| 981 | Casey's General Stores, Inc.  | $595 |
| 28714 | PriceSmart, Inc.  | 4083 |
| 27739 | Sprouts Farmers Market, Inc. <sup>\*</sup> | 1967 |
|  |  | 6645 |
| **CONTAINERS & PACKAGING—0.6%** | **CONTAINERS & PACKAGING—0.6%** | **CONTAINERS & PACKAGING—0.6%** |
| 2889 | AptarGroup, Inc.  | 361 |
| 200130 | Graphic Packaging Holding Co.  | 2932 |
|  |  | 3293 |
| **DISTRIBUTORS—0.1%** | **DISTRIBUTORS—0.1%** | **DISTRIBUTORS—0.1%** |
| 1502 | Pool Corp.  | 382 |
| **DIVERSIFIED CONSUMER SERVICES—2.7%** | **DIVERSIFIED CONSUMER SERVICES—2.7%** | **DIVERSIFIED CONSUMER SERVICES—2.7%** |
| 35945 | Frontdoor, Inc. <sup>\*</sup> | 2125 |
| 11649 | Grand Canyon Education, Inc. <sup>\*</sup> | 2025 |
| 175859 | Laureate Education, Inc. <sup>\*</sup> | 6032 |
| 51383 | OneSpaWorld Holdings Ltd. (Bahamas) | 1009 |
| 12363 | Perdoceo Education Corp.  | 396 |
| 120686 | Universal Technical Institute, Inc. <sup>\*</sup> | 3359 |
|  |  | 14946 |
| **ELECTRIC UTILITIES—0.4%** | **ELECTRIC UTILITIES—0.4%** | **ELECTRIC UTILITIES—0.4%** |
| 47058 | OGE Energy Corp.  | 2055 |
| **ELECTRICAL EQUIPMENT—2.2%** | **ELECTRICAL EQUIPMENT—2.2%** | **ELECTRICAL EQUIPMENT—2.2%** |
| 31681 | Amprius Technologies, Inc. <sup>\*</sup> | 394 |
| 52863 | Array Technologies, Inc. <sup>\*</sup> | 599 |
| 11361 | Bloom Energy Corp. Class A<sup>\*</sup> | 1720 |
| 42798 | Electrovaya, Inc. (Canada)<sup>\*</sup> | 463 |
| 1846 | Generac Holdings, Inc. <sup>\*</sup> | 310 |
| 47500 | Nextpower, Inc. Class A<sup>\*</sup> | 5562 |
| 5689 | nVent Electric PLC  | 639 |
| 7143 | Regal Rexnord Corp.  | 1153 |
| 107505 | Shoals Technologies Group, Inc. Class A<sup>\*</sup> | 1015 |
|  |  | 11855 |
| **ELECTRONIC EQUIPMENT, INSTRUMENTS & COMPONENTS—1.9%** | **ELECTRONIC EQUIPMENT, INSTRUMENTS & COMPONENTS—1.9%** | **ELECTRONIC EQUIPMENT, INSTRUMENTS & COMPONENTS—1.9%** |
| 77006 | Arlo Technologies, Inc. <sup>\*</sup> | 977 |
| 1772 | Arrow Electronics, Inc. <sup>\*</sup> | 235 |
| 60618 | Avnet, Inc.  | 3782 |
| 12021 | Cognex Corp.  | 465 |
| 3413 | Fabrinet (Thailand)<sup>\*</sup> | 1670 |
| 61911 | LightPath Technologies, Inc. Class A<sup>\*</sup> | 645 |
| 2677 | Littelfuse, Inc.  | 867 |
| 6345 | Plexus Corp. <sup>\*</sup> | 1265 |
| 45105 | Unusual Machines, Inc. (Puerto Rico)<sup>\*</sup> | 625 |
|  |  | 10531 |
| **ENERGY EQUIPMENT & SERVICES—1.9%** | **ENERGY EQUIPMENT & SERVICES—1.9%** | **ENERGY EQUIPMENT & SERVICES—1.9%** |
| 33695 | Expro Group Holdings NV <sup>\*</sup> | 539 |
| 161942 | NOV, Inc.  | 2972 |
| 236679 | Select Water Solutions, Inc.  | 2861 |
| 14235 | TechnipFMC PLC (United Kingdom) | 793 |
| 46945 | Tidewater, Inc. <sup>\*</sup> | 2934 |
| 3613 | Weatherford International PLC  | 340 |
|  |  | 10439 |
| **ENTERTAINMENT—2.4%** | **ENTERTAINMENT—2.4%** | **ENTERTAINMENT—2.4%** |
| 64896 | Atlanta Braves Holdings, Inc. Class C<sup>\*</sup> | 2591 |
| 40893 | IMAX Corp. <sup>\*</sup> | 1428 |
| 414764 | Lionsgate Studios Corp. <sup>\*</sup> | 3915 |
| 17861 | Madison Square Garden Sports Corp. <sup>\*</sup> | 5065 |
| 23059 | Starz Entertainment Corp. <sup>\*</sup> | 230 |
|  |  | 13229 |

---

---

| | | |
|:---|:---|:---|
| **COMMON STOCKS—Continued** | **COMMON STOCKS—Continued** | **COMMON STOCKS—Continued** |
| **Shares** |  | **Value** |
| **FINANCIAL SERVICES—1.3%** | **FINANCIAL SERVICES—1.3%** | **FINANCIAL SERVICES—1.3%** |
| 35082 | Chime Financial, Inc. Class A<sup>\*</sup> | $892 |
| 35449 | Euronet Worldwide, Inc. <sup>\*</sup> | 2569 |
| 15050 | HA Sustainable Infrastructure Capital, Inc.  | 518 |
| 3196 | Jack Henry & Associates, Inc.  | 573 |
| 9789 | Shift4 Payments, Inc. Class A<sup>\*</sup> | 578 |
| 11713 | WEX, Inc. <sup>\*</sup> | 1802 |
|  |  | 6932 |
| **FOOD PRODUCTS—0.9%** | **FOOD PRODUCTS—0.9%** | **FOOD PRODUCTS—0.9%** |
| 127194 | Simply Good Foods Co. <sup>\*</sup> | 2387 |
| 471147 | SunOpta, Inc. (Canada)<sup>\*</sup> | 2158 |
| 12859 | Vital Farms, Inc. <sup>\*</sup> | 366 |
|  |  | 4911 |
| **GAS UTILITIES—0.3%** | **GAS UTILITIES—0.3%** | **GAS UTILITIES—0.3%** |
| 11271 | Brookfield Infrastructure Corp. Class A (Canada) | 539 |
| 4276 | Chesapeake Utilities Corp.  | 550 |
| 30052 | MDU Resources Group, Inc.  | 617 |
|  |  | 1706 |
| **GROUND TRANSPORTATION—1.6%** | **GROUND TRANSPORTATION—1.6%** | **GROUND TRANSPORTATION—1.6%** |
| 17287 | Landstar System, Inc.  | 2582 |
| 3642 | Saia, Inc. <sup>\*</sup> | 1220 |
| 96803 | U-Haul Holding Co.  | 4967 |
|  |  | 8769 |
| **HEALTH CARE EQUIPMENT & SUPPLIES—2.7%** | **HEALTH CARE EQUIPMENT & SUPPLIES—2.7%** | **HEALTH CARE EQUIPMENT & SUPPLIES—2.7%** |
| 5696 | IRhythm Holdings, Inc. <sup>\*</sup> | 880 |
| 31629 | Lantheus Holdings, Inc. <sup>\*</sup> | 2117 |
| 6239 | LeMaitre Vascular, Inc.  | 530 |
| 29356 | LivaNova PLC <sup>\*</sup> | 1929 |
| 9486 | Masimo Corp. <sup>\*</sup> | 1303 |
| 86536 | Neogen Corp. <sup>\*</sup> | 884 |
| 91065 | OrthoPediatrics Corp. <sup>\*</sup> | 1590 |
| 121137 | Owlet, Inc. <sup>\*</sup> | 1462 |
| 124665 | SI-BONE, Inc. <sup>\*</sup> | 2067 |
| 15192 | Solventum Corp. <sup>\*</sup> | 1169 |
| 2473 | STERIS PLC  | 650 |
|  |  | 14581 |
| **HEALTH CARE PROVIDERS & SERVICES—4.0%** | **HEALTH CARE PROVIDERS & SERVICES—4.0%** | **HEALTH CARE PROVIDERS & SERVICES—4.0%** |
| 161982 | AdaptHealth Corp. <sup>\*</sup> | 1628 |
| 29250 | Addus HomeCare Corp. <sup>\*</sup> | 3027 |
| 21719 | Centene Corp. <sup>\*</sup> | 941 |
| 1129 | Chemed Corp.  | 482 |
| 13134 | Encompass Health Corp.  | 1242 |
| 4622 | Ensign Group, Inc.  | 793 |
| 18781 | GeneDx Holdings Corp. <sup>\*</sup> | 1808 |
| 9786 | Guardant Health, Inc. <sup>\*</sup> | 1116 |
| 12522 | HealthEquity, Inc. <sup>\*</sup> | 1073 |
| 20713 | Option Care Health, Inc. <sup>\*</sup> | 704 |
| 3023 | Quest Diagnostics, Inc.  | 565 |
| 109030 | RadNet, Inc. <sup>\*</sup> | 7643 |
| 123283 | Talkspace, Inc. <sup>\*</sup> | 498 |
| 6145 | U.S. Physical Therapy, Inc.  | 515 |
|  |  | 22035 |
| **HEALTH CARE REITS—1.0%** | **HEALTH CARE REITS—1.0%** | **HEALTH CARE REITS—1.0%** |
| 19846 | Alexandria Real Estate Equities, Inc.  | 1084 |
| 16141 | CareTrust REIT, Inc.  | 603 |
| 156924 | Sila Realty Trust, Inc.  | 3821 |
|  |  | 5508 |
| **HEALTH CARE TECHNOLOGY—0.0%** | **HEALTH CARE TECHNOLOGY—0.0%** | **HEALTH CARE TECHNOLOGY—0.0%** |
| 24754 | OptimizeRx Corp. <sup>\*</sup> | 266 |

---

------

⬤

------

**Embark Small Cap Equity Fund**

**PORTFOLIO OF INVESTMENTS—Continued**

------

*Value and Cost in Thousands* 

---

| | | |
|:---|:---|:---|
| **COMMON STOCKS—Continued** | **COMMON STOCKS—Continued** | **COMMON STOCKS—Continued** |
| **Shares** |  | **Value** |
| **HOTEL & RESORT REITS—0.4%** | **HOTEL & RESORT REITS—0.4%** | **HOTEL & RESORT REITS—0.4%** |
| 20999 | Ryman Hospitality Properties, Inc.  | $1989 |
| **HOTELS, RESTAURANTS & LEISURE—2.4%** | **HOTELS, RESTAURANTS & LEISURE—2.4%** | **HOTELS, RESTAURANTS & LEISURE—2.4%** |
| 4825 | Churchill Downs, Inc.  | 475 |
| 1195 | Domino's Pizza, Inc.  | 490 |
| 15612 | Dutch Bros, Inc. Class A<sup>\*</sup> | 849 |
| 459330 | Genius Sports Ltd. (United Kingdom)<sup>\*</sup> | 3996 |
| 34268 | Life Time Group Holdings, Inc. <sup>\*</sup> | 1000 |
| 77851 | Lindblad Expeditions Holdings, Inc. <sup>\*</sup> | 1298 |
| 28022 | Marriott Vacations Worldwide Corp.  | 1522 |
| 154335 | Penn Entertainment, Inc. <sup>\*</sup> | 1982 |
| 10290 | Travel & Leisure Co.  | 715 |
| 2374 | Wingstop, Inc.  | 630 |
|  |  | 12957 |
| **HOUSEHOLD DURABLES—2.1%** | **HOUSEHOLD DURABLES—2.1%** | **HOUSEHOLD DURABLES—2.1%** |
| 6223 | Cavco Industries, Inc. <sup>\*</sup> | 3062 |
| 56723 | Green Brick Partners, Inc. <sup>\*</sup> | 3936 |
| 22071 | SharkNinja, Inc. <sup>\*</sup> | 2608 |
| 4480 | TopBuild Corp. <sup>\*</sup> | 2097 |
|  |  | 11703 |
| **INDUSTRIAL REITS—0.1%** | **INDUSTRIAL REITS—0.1%** | **INDUSTRIAL REITS—0.1%** |
| 8930 | Terreno Realty Corp.  | 550 |
| **INSURANCE—3.1%** | **INSURANCE—3.1%** | **INSURANCE—3.1%** |
| 27879 | Assured Guaranty Ltd.  | 2366 |
| 33020 | First American Financial Corp.  | 2086 |
| 23692 | Global Indemnity Group LLC Class A | 685 |
| 12625 | Horace Mann Educators Corp.  | 566 |
| 927 | Kinsale Capital Group, Inc.  | 367 |
| 11761 | Palomar Holdings, Inc. <sup>\*</sup> | 1454 |
| 1837 | Primerica, Inc.  | 483 |
| 220581 | SiriusPoint Ltd. (Sweden)<sup>\*</sup> | 4502 |
| 64346 | Skyward Specialty Insurance Group, Inc. <sup>\*</sup> | 2871 |
| 862 | White Mountains Insurance Group Ltd.  | 1763 |
|  |  | 17143 |
| **IT SERVICES—0.7%** | **IT SERVICES—0.7%** | **IT SERVICES—0.7%** |
| 9632 | Applied Digital Corp. <sup>\*</sup> | 327 |
| 42740 | ASGN, Inc. <sup>\*</sup> | 2226 |
| 68992 | Hackett Group, Inc.  | 1259 |
|  |  | 3812 |
| **LEISURE PRODUCTS—1.2%** | **LEISURE PRODUCTS—1.2%** | **LEISURE PRODUCTS—1.2%** |
| 7364 | Brunswick Corp.  | 591 |
| 221281 | Callaway Golf Co. <sup>\*</sup> | 3175 |
| 63216 | YETI Holdings, Inc. <sup>\*</sup> | 2890 |
|  |  | 6656 |
| **LIFE SCIENCES TOOLS & SERVICES—0.3%** | **LIFE SCIENCES TOOLS & SERVICES—0.3%** | **LIFE SCIENCES TOOLS & SERVICES—0.3%** |
| 33839 | Adaptive Biotechnologies Corp. <sup>\*</sup> | 626 |
| 2746 | Bio-Rad Laboratories, Inc. Class A<sup>\*</sup> | 807 |
| 36516 | CryoPort, Inc. <sup>\*</sup> | 347 |
|  |  | 1780 |
| **MACHINERY—3.4%** | **MACHINERY—3.4%** | **MACHINERY—3.4%** |
| 12625 | Alamo Group, Inc.  | 2466 |
| 96195 | Douglas Dynamics, Inc.  | 3625 |
| 7627 | Greenbrier Cos., Inc.  | 385 |
| 540667 | Hillman Solutions Corp. <sup>\*</sup> | 5066 |
| 10279 | ITT, Inc.  | 1874 |
| 14368 | Miller Industries, Inc.  | 589 |
| 2298 | Nordson Corp.  | 631 |
| 2656 | SPX Technologies, Inc. <sup>\*</sup> | 553 |
| 2168 | Standex International Corp.  | 520 |
| 11105 | Stanley Black & Decker, Inc.  | 873 |

---

---

| | | |
|:---|:---|:---|
| **COMMON STOCKS—Continued** | **COMMON STOCKS—Continued** | **COMMON STOCKS—Continued** |
| **Shares** |  | **Value** |
| **MACHINERY—Continued** | **MACHINERY—Continued** | **MACHINERY—Continued** |
| 23629 | Timken Co.  | $2202 |
|  |  | 18784 |
| **MARINE TRANSPORTATION—0.8%** | **MARINE TRANSPORTATION—0.8%** | **MARINE TRANSPORTATION—0.8%** |
| 112122 | Global Ship Lease, Inc. Class A (United Kingdom) | 4209 |
| **MEDIA—1.8%** | **MEDIA—1.8%** | **MEDIA—1.8%** |
| 250749 | Magnite, Inc. <sup>\*</sup> | 3628 |
| 136068 | National CineMedia, Inc.  | 491 |
| 8604 | New York Times Co. Class A | 631 |
| 3019 | Nexstar Media Group, Inc.  | 641 |
| 26896 | NIQ Global Intelligence PLC <sup>\*</sup> | 457 |
| 651689 | Stagwell, Inc. <sup>\*</sup> | 3917 |
|  |  | 9765 |
| **METALS & MINING—0.4%** | **METALS & MINING—0.4%** | **METALS & MINING—0.4%** |
| 22203 | Coeur Mining, Inc. <sup>\*</sup> | 454 |
| 1905 | Reliance, Inc.  | 628 |
| 2671 | Royal Gold, Inc.  | 703 |
| 89788 | U.S. Antimony Corp. <sup>\*</sup> | 658 |
|  |  | 2443 |
| **MULTI-UTILITIES—0.2%** | **MULTI-UTILITIES—0.2%** | **MULTI-UTILITIES—0.2%** |
| 21216 | Avista Corp.  | 876 |
| 6514 | Black Hills Corp.  | 475 |
|  |  | 1351 |
| **OFFICE REITS—0.1%** | **OFFICE REITS—0.1%** | **OFFICE REITS—0.1%** |
| 79928 | Piedmont Realty Trust, Inc.  | 673 |
| **OIL, GAS & CONSUMABLE FUELS—3.5%** | **OIL, GAS & CONSUMABLE FUELS—3.5%** | **OIL, GAS & CONSUMABLE FUELS—3.5%** |
| 59666 | APA Corp.  | 1576 |
| 24003 | California Resources Corp.  | 1284 |
| 13898 | Crescent Energy Co. Class A | 136 |
| 4934 | DT Midstream, Inc.  | 622 |
| 231098 | Kosmos Energy Ltd. (Ghana)<sup>\*</sup> | 365 |
| 54983 | Matador Resources Co.  | 2487 |
| 57748 | Murphy Oil Corp.  | 1738 |
| 23372 | NextDecade Corp. <sup>\*</sup> | 124 |
| 10112 | Ovintiv, Inc.  | 440 |
| 92550 | Par Pacific Holdings, Inc. <sup>\*</sup> | 3493 |
| 46590 | Permian Resources Corp.  | 751 |
| 9411 | Range Resources Corp.  | 356 |
| 226980 | Secure Waste Infrastructure Corp. (Canada) | 2939 |
| 143411 | Vitesse Energy, Inc.  | 3006 |
|  |  | 19317 |
| **PERSONAL CARE PRODUCTS—0.7%** | **PERSONAL CARE PRODUCTS—0.7%** | **PERSONAL CARE PRODUCTS—0.7%** |
| 73714 | BellRing Brands, Inc. <sup>\*</sup> | 1833 |
| 13467 | elf Beauty, Inc. <sup>\*</sup> | 1145 |
| 14092 | Herbalife Ltd. <sup>\*</sup> | 243 |
| 23150 | Oddity Tech Ltd. Class A (Israel)<sup>\*</sup> | 760 |
|  |  | 3981 |
| **PHARMACEUTICALS—0.5%** | **PHARMACEUTICALS—0.5%** | **PHARMACEUTICALS—0.5%** |
| 104632 | Elanco Animal Health, Inc. <sup>\*</sup> | 2519 |
| 23803 | LENZ Therapeutics, Inc. <sup>\*</sup> | 377 |
|  |  | 2896 |
| **PROFESSIONAL SERVICES—3.1%** | **PROFESSIONAL SERVICES—3.1%** | **PROFESSIONAL SERVICES—3.1%** |
| 5032 | Booz Allen Hamilton Holding Corp.  | 445 |
| 9489 | Concentrix Corp.  | 354 |
| 66234 | Franklin Covey Co. <sup>\*</sup> | 1349 |
| 59735 | Insperity, Inc.  | 2553 |
| 11118 | KBR, Inc.  | 476 |
| 389150 | Legalzoom.com, Inc. <sup>\*</sup> | 3460 |
| 18546 | ManpowerGroup, Inc.  | 674 |

---

------

⬤

------

**Embark Small Cap Equity Fund**

**PORTFOLIO OF INVESTMENTS—Continued**

------

*Value and Cost in Thousands* 

---

| | | |
|:---|:---|:---|
| **COMMON STOCKS—Continued** | **COMMON STOCKS—Continued** | **COMMON STOCKS—Continued** |
| **Shares** |  | **Value** |
| **PROFESSIONAL SERVICES—Continued** | **PROFESSIONAL SERVICES—Continued** | **PROFESSIONAL SERVICES—Continued** |
| 16350 | Maximus, Inc.  | $1544 |
| 16302 | Paycom Software, Inc.  | 2197 |
| 7116 | TransUnion  | 562 |
| 166433 | Verra Mobility Corp. <sup>\*</sup> | 3212 |
|  |  | 16826 |
| **REAL ESTATE MANAGEMENT & DEVELOPMENT—0.2%** | **REAL ESTATE MANAGEMENT & DEVELOPMENT—0.2%** | **REAL ESTATE MANAGEMENT & DEVELOPMENT—0.2%** |
| 2686 | FirstService Corp. (Canada) | 417 |
| 911 | Jones Lang LaSalle, Inc. <sup>\*</sup> | 326 |
| 13140 | RMR Group, Inc. Class A | 199 |
| 93928 | Seritage Growth Properties Class A<sup>\*</sup> | 310 |
|  |  | 1252 |
| **SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT—5.1%** | **SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT—5.1%** | **SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT—5.1%** |
| 33062 | Axcelis Technologies, Inc. <sup>\*</sup> | 2912 |
| 10013 | Credo Technology Group Holding Ltd. <sup>\*</sup> | 1254 |
| 39257 | FormFactor, Inc. <sup>\*</sup> | 2767 |
| 864874 | indie Semiconductor, Inc. Class A (China)<sup>\*</sup> | 3546 |
| 12815 | Kulicke & Soffa Industries, Inc. (Singapore) | 735 |
| 12342 | Lattice Semiconductor Corp. <sup>\*</sup> | 994 |
| 17006 | MKS, Inc.  | 4003 |
| 6061 | Onto Innovation, Inc. <sup>\*</sup> | 1225 |
| 11329 | Power Integrations, Inc.  | 520 |
| 3290 | Rambus, Inc. <sup>\*</sup> | 374 |
| 17593 | Semtech Corp. <sup>\*</sup> | 1403 |
| 62819 | Silicon Motion Technology Corp. ADR (Taiwan)<sup>1</sup> | 7471 |
| 3256 | Tower Semiconductor Ltd. (Israel)<sup>\*</sup> | 439 |
| 4368 | Universal Display Corp.  | 502 |
|  |  | 28145 |
| **SOFTWARE—7.5%** | **SOFTWARE—7.5%** | **SOFTWARE—7.5%** |
| 216934 | A10 Networks, Inc.  | 3783 |
| 24150 | ACI Worldwide, Inc. <sup>\*</sup> | 1047 |
| 14025 | Bentley Systems, Inc. Class B | 493 |
| 41974 | Blackbaud, Inc. <sup>\*</sup> | 2254 |
| 56465 | Braze, Inc. Class A<sup>\*</sup> | 1176 |
| 105063 | Cellebrite DI Ltd. (Israel)<sup>\*</sup> | 1545 |
| 19510 | Clear Secure, Inc. Class A | 636 |
| 13084 | Commvault Systems, Inc. <sup>\*</sup> | 1121 |
| 8065 | Descartes Systems Group, Inc. (Canada)<sup>\*</sup> | 603 |
| 713189 | Digital Turbine, Inc. <sup>\*</sup> | 3723 |
| 32007 | Dynatrace, Inc. <sup>\*</sup> | 1219 |
| 116205 | I3 Verticals, Inc. Class A<sup>\*</sup> | 2581 |
| 9857 | InterDigital, Inc.  | 3218 |
| 324308 | NCR Voyix Corp. <sup>\*</sup> | 3217 |
| 29173 | PAR Technology Corp. <sup>\*</sup> | 765 |
| 466431 | Porch Group, Inc. <sup>\*</sup> | 3680 |
| 12830 | Procore Technologies, Inc. <sup>\*</sup> | 725 |
| 29233 | Rapid7, Inc. <sup>\*</sup> | 348 |
| 28068 | Riot Platforms, Inc. <sup>\*</sup> | 434 |

---

---

| | | |
|:---|:---|:---|
| **COMMON STOCKS—Continued** | **COMMON STOCKS—Continued** | **COMMON STOCKS—Continued** |
| **Shares** |  | **Value** |
| **SOFTWARE—Continued** | **SOFTWARE—Continued** | **SOFTWARE—Continued** |
| 22284 | SentinelOne, Inc. Class A<sup>\*</sup> | $312 |
| 135209 | Tenable Holdings, Inc. <sup>\*</sup> | 2983 |
| 106784 | Viant Technology, Inc. Class A<sup>\*</sup> | 1262 |
| 75899 | Weave Communications, Inc. <sup>\*</sup> | 493 |
| 40066 | Workiva, Inc. <sup>\*</sup> | 3086 |
| 18705 | Zeta Global Holdings Corp. Class A<sup>\*</sup> | 348 |
|  |  | 41052 |
| **SPECIALTY RETAIL—1.3%** | **SPECIALTY RETAIL—1.3%** | **SPECIALTY RETAIL—1.3%** |
| 173723 | Arhaus, Inc. <sup>\*</sup> | 1768 |
| 6038 | Boot Barn Holdings, Inc. <sup>\*</sup> | 1078 |
| 2664 | Dick's Sporting Goods, Inc.  | 538 |
| 7518 | Lithia Motors, Inc.  | 2432 |
| 2084 | Murphy USA, Inc.  | 880 |
| 7148 | Sonic Automotive, Inc. Class A | 429 |
|  |  | 7125 |
| **TECHNOLOGY HARDWARE, STORAGE & PERIPHERALS—0.1%** | **TECHNOLOGY HARDWARE, STORAGE & PERIPHERALS—0.1%** | **TECHNOLOGY HARDWARE, STORAGE & PERIPHERALS—0.1%** |
| 9507 | IonQ, Inc. <sup>\*</sup> | 380 |
| **TEXTILES, APPAREL & LUXURY GOODS—0.6%** | **TEXTILES, APPAREL & LUXURY GOODS—0.6%** | **TEXTILES, APPAREL & LUXURY GOODS—0.6%** |
| 28606 | Birkenstock Holding PLC (Germany)<sup>\*</sup> | 1080 |
| 52721 | Steven Madden Ltd.  | 2314 |
|  |  | 3394 |
| **TRADING COMPANIES & DISTRIBUTORS—3.2%** | **TRADING COMPANIES & DISTRIBUTORS—3.2%** | **TRADING COMPANIES & DISTRIBUTORS—3.2%** |
| 5018 | Applied Industrial Technologies, Inc.  | 1307 |
| 37429 | BlueLinx Holdings, Inc. <sup>\*</sup> | 2603 |
| 29025 | FTAI Aviation Ltd.  | 7904 |
| 217932 | NPK International, Inc. <sup>\*</sup> | 3010 |
| 27798 | Rush Enterprises, Inc. Class A | 1784 |
| 3226 | WESCO International, Inc.  | 934 |
|  |  | 17542 |
| &nbsp;&nbsp;&nbsp;&nbsp; **TOTAL COMMON STOCKS** <br>(Cost $428,588) | &nbsp;&nbsp;&nbsp;&nbsp; **TOTAL COMMON STOCKS** <br>(Cost $428,588) | 542321 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
| **EXCHANGE-TRADED FUNDS—0.3%** | **EXCHANGE-TRADED FUNDS—0.3%** | **EXCHANGE-TRADED FUNDS—0.3%** |
| &nbsp;&nbsp;&nbsp; (Cost $1,822) | &nbsp;&nbsp;&nbsp; (Cost $1,822) | &nbsp;&nbsp;&nbsp; (Cost $1,822) |
| **CAPITAL MARKETS—0.3%** | **CAPITAL MARKETS—0.3%** | **CAPITAL MARKETS—0.3%** |
| 9983 | iShares Russell 2000 Value ETF  | 1935 |
| &nbsp;&nbsp;&nbsp;&nbsp; **TOTAL INVESTMENTS—99.0%** <br>(Cost $430,410) | &nbsp;&nbsp;&nbsp;&nbsp; **TOTAL INVESTMENTS—99.0%** <br>(Cost $430,410) | 544256 |
| **CASH AND OTHER ASSETS, LESS LIABILITIES—1.0%** | **CASH AND OTHER ASSETS, LESS LIABILITIES—1.0%** | 5244 |
| **TOTAL NET ASSETS—100%** | **TOTAL NET ASSETS—100%** | $549500 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

**FAIR VALUE MEASUREMENTS**

All investments as of January 31, 2026 (as disclosed in the preceding Portfolio of Investments) were classified as Level 1. <br>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

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.

------

⬤

------

**Harbor Capital Appreciation Fund**

**PORTFOLIO OF INVESTMENTS—January 31, 2026 (Unaudited)**

------

*Value and Cost in Thousands*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
| **COMMON STOCKS—99.8%** | **COMMON STOCKS—99.8%** | **COMMON STOCKS—99.8%** |
| **Shares** |  | **Value** |
| **AEROSPACE & DEFENSE—4.7%** | **AEROSPACE & DEFENSE—4.7%** | **AEROSPACE & DEFENSE—4.7%** |
| 217865 | Axon Enterprise, Inc. <sup>\*</sup> | $105355 |
| 2472968 | Boeing Co. <sup>\*</sup> | 577982 |
| 1773399 | General Electric Co.  | 544061 |
|  |  | 1227398 |
| **AUTOMOBILES—3.6%** | **AUTOMOBILES—3.6%** | **AUTOMOBILES—3.6%** |
| 2175431 | Tesla, Inc. <sup>\*</sup> | 936327 |
| **BIOTECHNOLOGY—1.3%** | **BIOTECHNOLOGY—1.3%** | **BIOTECHNOLOGY—1.3%** |
| 697220 | Vertex Pharmaceuticals, Inc. <sup>\*</sup> | 327624 |
| **BROADLINE RETAIL—8.2%** | **BROADLINE RETAIL—8.2%** | **BROADLINE RETAIL—8.2%** |
| 8297160 | Amazon.com, Inc. <sup>\*</sup> | 1985510 |
| 66652 | MercadoLibre, Inc. (Brazil)<sup>\*</sup> | 143155 |
|  |  | 2128665 |
| **CAPITAL MARKETS—1.2%** | **CAPITAL MARKETS—1.2%** | **CAPITAL MARKETS—1.2%** |
| 326982 | Goldman Sachs Group, Inc.  | 305862 |
| **CONSUMER STAPLES DISTRIBUTION & RETAIL—3.5%** | **CONSUMER STAPLES DISTRIBUTION & RETAIL—3.5%** | **CONSUMER STAPLES DISTRIBUTION & RETAIL—3.5%** |
| 462269 | Costco Wholesale Corp.  | 434649 |
| 4040762 | Walmart, Inc.  | 481416 |
|  |  | 916065 |
| **ELECTRIC UTILITIES—1.4%** | **ELECTRIC UTILITIES—1.4%** | **ELECTRIC UTILITIES—1.4%** |
| 1252050 | Constellation Energy Corp.  | 351425 |
| **ELECTRONIC EQUIPMENT, INSTRUMENTS & COMPONENTS—1.2%** | **ELECTRONIC EQUIPMENT, INSTRUMENTS & COMPONENTS—1.2%** | **ELECTRONIC EQUIPMENT, INSTRUMENTS & COMPONENTS—1.2%** |
| 2219459 | Amphenol Corp. Class A | 319780 |
| **ENTERTAINMENT—3.9%** | **ENTERTAINMENT—3.9%** | **ENTERTAINMENT—3.9%** |
| 5189054 | Netflix, Inc. <sup>\*</sup> | 433234 |
| 413838 | Spotify Technology SA <sup>\*</sup> | 207064 |
| 3358270 | Walt Disney Co.  | 378813 |
|  |  | 1019111 |
| **FINANCIAL SERVICES—4.2%** | **FINANCIAL SERVICES—4.2%** | **FINANCIAL SERVICES—4.2%** |
| 960624 | Mastercard, Inc. Class A | 517575 |
| 2320053 | Toast, Inc. Class A<sup>\*</sup> | 72177 |
| 1545789 | Visa, Inc. Class A | 497481 |
|  |  | 1087233 |
| **GROUND TRANSPORTATION—0.3%** | **GROUND TRANSPORTATION—0.3%** | **GROUND TRANSPORTATION—0.3%** |
| 1004018 | Uber Technologies, Inc. <sup>\*</sup> | 80372 |
| **HEALTH CARE EQUIPMENT & SUPPLIES—2.6%** | **HEALTH CARE EQUIPMENT & SUPPLIES—2.6%** | **HEALTH CARE EQUIPMENT & SUPPLIES—2.6%** |
| 1520771 | Dexcom, Inc. <sup>\*</sup> | 111077 |
| 3277322 | Edwards Lifesciences Corp. <sup>\*</sup> | 266643 |
| 600231 | Intuitive Surgical, Inc. <sup>\*</sup> | 302648 |
|  |  | 680368 |
| **HOTELS, RESTAURANTS & LEISURE—1.0%** | **HOTELS, RESTAURANTS & LEISURE—1.0%** | **HOTELS, RESTAURANTS & LEISURE—1.0%** |
| 836028 | Hilton Worldwide Holdings, Inc.  | 249563 |

---

---

| | | |
|:---|:---|:---|
| **COMMON STOCKS—Continued** | **COMMON STOCKS—Continued** | **COMMON STOCKS—Continued** |
| **Shares** |  | **Value** |
| **INTERACTIVE MEDIA & SERVICES—12.0%** | **INTERACTIVE MEDIA & SERVICES—12.0%** | **INTERACTIVE MEDIA & SERVICES—12.0%** |
| 2942838 | Alphabet, Inc. Class A | $994679 |
| 3117691 | Alphabet, Inc. Class C | 1055432 |
| 1485032 | Meta Platforms, Inc. Class A | 1064026 |
|  |  | 3114137 |
| **IT SERVICES—3.1%** | **IT SERVICES—3.1%** | **IT SERVICES—3.1%** |
| 421426 | Cloudflare, Inc. Class A<sup>\*</sup> | 74740 |
| 2392105 | Shopify, Inc. Class A (Canada)<sup>\*</sup> | 313916 |
| 2097847 | Snowflake, Inc. <sup>\*</sup> | 404255 |
|  |  | 792911 |
| **PHARMACEUTICALS—4.9%** | **PHARMACEUTICALS—4.9%** | **PHARMACEUTICALS—4.9%** |
| 1012509 | Eli Lilly & Co.  | 1050124 |
| 2020767 | Merck & Co., Inc.  | 222830 |
|  |  | 1272954 |
| **SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT—21.0%** | **SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT—21.0%** | **SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT—21.0%** |
| 1724414 | Advanced Micro Devices, Inc. <sup>\*</sup> | 408221 |
| 5189682 | Broadcom, Inc.  | 1719342 |
| 14780618 | NVIDIA Corp.  | 2825019 |
| 1432591 | Taiwan Semiconductor Manufacturing Co. Ltd. ADR (Taiwan)<sup>1</sup> | 473557 |
|  |  | 5426139 |
| **SOFTWARE—13.6%** | **SOFTWARE—13.6%** | **SOFTWARE—13.6%** |
| 450335 | AppLovin Corp. Class A<sup>\*</sup> | 213058 |
| 1515043 | Cadence Design Systems, Inc. <sup>\*</sup> | 448998 |
| 928420 | Crowdstrike Holdings, Inc. Class A<sup>\*</sup> | 409809 |
| 1540428 | Datadog, Inc. Class A<sup>\*</sup> | 199208 |
| 3849698 | Microsoft Corp.  | 1656487 |
| 1661704 | Oracle Corp.  | 273483 |
| 799087 | Palantir Technologies, Inc. Class A<sup>\*</sup> | 117138 |
| 1792634 | ServiceNow, Inc. <sup>\*</sup> | 209756 |
|  |  | 3527937 |
| **SPECIALTY RETAIL—2.0%** | **SPECIALTY RETAIL—2.0%** | **SPECIALTY RETAIL—2.0%** |
| 2542216 | Industria de Diseno Textil SA (Spain) | 165422 |
| 2472939 | O'Reilly Automotive, Inc. <sup>\*</sup> | 243362 |
| 776386 | TJX Cos., Inc.  | 116310 |
|  |  | 525094 |
| **TECHNOLOGY HARDWARE, STORAGE & PERIPHERALS—6.1%** | **TECHNOLOGY HARDWARE, STORAGE & PERIPHERALS—6.1%** | **TECHNOLOGY HARDWARE, STORAGE & PERIPHERALS—6.1%** |
| 6113161 | Apple, Inc.  | 1586243 |
| &nbsp;&nbsp;&nbsp;&nbsp; **TOTAL COMMON STOCKS** <br>(Cost $8,960,445) | &nbsp;&nbsp;&nbsp;&nbsp; **TOTAL COMMON STOCKS** <br>(Cost $8,960,445) | 25875208 |
| &nbsp;&nbsp;&nbsp;&nbsp; **TOTAL INVESTMENTS—99.8%** <br>(Cost $8,960,445) | &nbsp;&nbsp;&nbsp;&nbsp; **TOTAL INVESTMENTS—99.8%** <br>(Cost $8,960,445) | 25875208 |
| **CASH AND OTHER ASSETS, LESS LIABILITIES—0.2%** | **CASH AND OTHER ASSETS, LESS LIABILITIES—0.2%** | 42246 |
| **TOTAL NET ASSETS—100%** | **TOTAL NET ASSETS—100%** | $25917454 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

**FAIR VALUE MEASUREMENTS**

As of January 31, 2026, the investment in Industria de Diseno Textil SA (as disclosed in the preceding Portfolio of Investments) was 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

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.

------

⬤

------

**Harbor Convertible Securities Fund (currently, Harbor Ares Systematic Convertible Securities Fund)**

**PORTFOLIO OF INVESTMENTS—January 31, 2026 (Unaudited)**

------

*Principal Amount, Value and Cost in Thousands*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
| **Convertible Bonds—84.2%** | **Convertible Bonds—84.2%** | **Convertible Bonds—84.2%** |
| **Principal** <br>**Amount**<br>|  | **Value** |
| **AEROSPACE & DEFENSE—2.0%** | **AEROSPACE & DEFENSE—2.0%** | **AEROSPACE & DEFENSE—2.0%** |
| $100 | &nbsp;&nbsp;&nbsp; AeroVironment, Inc. <br>0.000%—07/15/2030<sup>1</sup><br>| $118 |
| 200 | &nbsp;&nbsp;&nbsp; Astronics Corp. <br>0.000%—01/15/2031<sup>1,2</sup><br>| 306 |
| 25 | &nbsp;&nbsp;&nbsp; Rocket Lab USA, Inc. <br>4.250%—02/01/2029<sup>2</sup><br>| 390 |
|  |  | 814 |
| **AUTOMOBILES—1.4%** | **AUTOMOBILES—1.4%** | **AUTOMOBILES—1.4%** |
| 300 | &nbsp;&nbsp;&nbsp; Lucid Group, Inc. <br>5.000%—04/01/2030<sup>2</sup><br>| 175 |
| 400 | &nbsp;&nbsp;&nbsp; Rivian Automotive, Inc. <br>3.625%—10/15/2030<br>| 379 |
|  |  | 554 |
| **BIOTECHNOLOGY—7.9%** | **BIOTECHNOLOGY—7.9%** | **BIOTECHNOLOGY—7.9%** |
| 400 | &nbsp;&nbsp;&nbsp; Alnylam Pharmaceuticals, Inc. <br>0.000%—09/15/2028<sup>1,2</sup><br>| 374 |
| 100 | &nbsp;&nbsp;&nbsp; ANI Pharmaceuticals, Inc. <br>2.250%—09/01/2029<br>| 130 |
|  | Bridgebio Pharma, Inc. |  |
| 300 | &nbsp;&nbsp;&nbsp; 0.750%—02/01/2033<sup>2</sup> | 307 |
| 300 | &nbsp;&nbsp;&nbsp; 2.250%—02/01/2029 | 342 |
|  |  | 649 |
| 200 | &nbsp;&nbsp;&nbsp; Cogent Biosciences, Inc. <br>1.625%—11/15/2031<br>| 241 |
|  | Guardant Health, Inc. |  |
| 400 | &nbsp;&nbsp;&nbsp; 0.000%—11/15/2027<sup>1</sup> | 447 |
| 300 | &nbsp;&nbsp;&nbsp; 0.000%—05/15/2033<sup>1,2</sup> | 357 |
|  |  | 804 |
|  | Halozyme Therapeutics, Inc. |  |
| 200 | &nbsp;&nbsp;&nbsp; 0.250%—03/01/2027 | 222 |
| 100 | &nbsp;&nbsp;&nbsp; 0.875%—11/15/2032<sup>2</sup> | 105 |
|  |  | 327 |
|  | Ionis Pharmaceuticals, Inc. |  |
| 100 | &nbsp;&nbsp;&nbsp; 0.000%—12/01/2030<sup>1,2</sup> | 111 |
| 200 | &nbsp;&nbsp;&nbsp; 1.750%—06/15/2028 | 329 |
|  |  | 440 |
| 100 | &nbsp;&nbsp;&nbsp; Ligand Pharmaceuticals, Inc. <br>0.750%—10/01/2030<sup>2</sup><br>| 120 |
| 100 | &nbsp;&nbsp;&nbsp; Sarepta Therapeutics, Inc. <br>4.875%—09/01/2030<sup>2</sup><br>| 80 |
|  |  | 3165 |
| **CAPITAL MARKETS—4.1%** | **CAPITAL MARKETS—4.1%** | **CAPITAL MARKETS—4.1%** |
| 300 | &nbsp;&nbsp;&nbsp; Cipher Mining, Inc. <br>0.000%—10/01/2031<sup>1,2</sup><br>| 382 |
| 200 | &nbsp;&nbsp;&nbsp; Cleanspark, Inc. <br>0.000%—02/15/2032<sup>1,2</sup><br>| 168 |
| 200 | &nbsp;&nbsp;&nbsp; Hercules Capital, Inc. <br>4.750%—09/01/2028<sup>2</sup><br>| 201 |
| 300 | &nbsp;&nbsp;&nbsp; MARA Holdings, Inc. <br>0.000%—03/01/2030<sup>1</sup><br>| 252 |
| 100 | &nbsp;&nbsp;&nbsp; Riot Platforms, Inc. <br>0.750%—01/15/2030<br>| 132 |
| 400 | &nbsp;&nbsp;&nbsp; Terawulf, Inc. <br>1.000%—09/01/2031<sup>2</sup><br>| 525 |
|  |  | 1660 |

---

---

| | | |
|:---|:---|:---|
| **Convertible Bonds—Continued** | **Convertible Bonds—Continued** | **Convertible Bonds—Continued** |
| **Principal**<br> **Amount**<br>|  | **Value** |
| **COMMERCIAL SERVICES & SUPPLIES—1.8%** | **COMMERCIAL SERVICES & SUPPLIES—1.8%** | **COMMERCIAL SERVICES & SUPPLIES—1.8%** |
| $400 | &nbsp;&nbsp;&nbsp; Alarm.com Holdings, Inc. <br>2.250%—06/01/2029<br>| $380 |
| 300 | &nbsp;&nbsp;&nbsp; Block, Inc. <br>0.250%—11/01/2027<br>| 279 |
| 100 | &nbsp;&nbsp;&nbsp; Hertz Corp. <br>5.500%—10/01/2030<sup>2</sup><br>| 76 |
|  |  | 735 |
| **COMMUNICATIONS EQUIPMENT—3.1%** | **COMMUNICATIONS EQUIPMENT—3.1%** | **COMMUNICATIONS EQUIPMENT—3.1%** |
|  | Lumentum Holdings, Inc. |  |
| 300 | &nbsp;&nbsp;&nbsp; 0.375%—03/15/2032<sup>2</sup> | 681 |
| 100 | &nbsp;&nbsp;&nbsp; 1.500%—12/15/2029 | 565 |
|  |  | 1246 |
| **CONSTRUCTION & ENGINEERING—0.7%** | **CONSTRUCTION & ENGINEERING—0.7%** | **CONSTRUCTION & ENGINEERING—0.7%** |
| 100 | &nbsp;&nbsp;&nbsp; Granite Construction, Inc. <br>3.750%—05/15/2028<br>| 266 |
| **DIVERSIFIED FINANCIAL SERVICES—1.8%** | **DIVERSIFIED FINANCIAL SERVICES—1.8%** | **DIVERSIFIED FINANCIAL SERVICES—1.8%** |
| 100 | &nbsp;&nbsp;&nbsp; Coinbase Global, Inc. <br>0.250%—04/01/2030<br>| 98 |
| 250 | &nbsp;&nbsp;&nbsp; Galaxy Digital Holdings LP <br>3.000%—12/15/2026<sup>2</sup><br>| 289 |
| 300 | &nbsp;&nbsp;&nbsp; WisdomTree, Inc. <br>4.625%—08/15/2030<sup>2</sup><br>| 350 |
|  |  | 737 |
| **DIVERSIFIED REITS—1.0%** | **DIVERSIFIED REITS—1.0%** | **DIVERSIFIED REITS—1.0%** |
| 200 | &nbsp;&nbsp;&nbsp; Welltower OP LLC <br>2.750%—05/15/2028<sup>2</sup><br>| 398 |
| **DIVERSIFIED TELECOMMUNICATION SERVICES—2.2%** | **DIVERSIFIED TELECOMMUNICATION SERVICES—2.2%** | **DIVERSIFIED TELECOMMUNICATION SERVICES—2.2%** |
| 100 | &nbsp;&nbsp;&nbsp; A10 Networks, Inc. <br>2.750%—04/01/2030<sup>2</sup><br>| 104 |
| 100 | &nbsp;&nbsp;&nbsp; Applied Digital Corp. <br>2.750%—06/01/2030<br>| 363 |
| 300 | &nbsp;&nbsp;&nbsp; AST SpaceMobile, Inc. <br>2.000%—01/15/2036<sup>2</sup><br>| 410 |
|  |  | 877 |
| **ELECTRIC UTILITIES—5.2%** | **ELECTRIC UTILITIES—5.2%** | **ELECTRIC UTILITIES—5.2%** |
| 300 | &nbsp;&nbsp;&nbsp; CenterPoint Energy, Inc. <br>4.250%—08/15/2026<br>| 335 |
| 200 | &nbsp;&nbsp;&nbsp; Evergy, Inc. <br>4.500%—12/15/2027<br>| 254 |
| 100 | &nbsp;&nbsp;&nbsp; Exelon Corp. <br>3.250%—03/15/2029<sup>2</sup><br>| 100 |
| 500 | &nbsp;&nbsp;&nbsp; FirstEnergy Corp. <br>3.625%—01/15/2029<sup>2</sup><br>| 546 |
| 200 | &nbsp;&nbsp;&nbsp; PPL Capital Funding, Inc. <br>2.875%—03/15/2028<br>| 225 |
|  | Southern Co. |  |
| 300 | &nbsp;&nbsp;&nbsp; 3.250%—06/15/2028<sup>2</sup> | 301 |
| 300 | &nbsp;&nbsp;&nbsp; 4.500%—06/15/2027 | 323 |
|  |  | 624 |
|  |  | 2084 |
| **ELECTRICAL EQUIPMENT—0.4%** | **ELECTRICAL EQUIPMENT—0.4%** | **ELECTRICAL EQUIPMENT—0.4%** |
| 100 | &nbsp;&nbsp;&nbsp; Array Technologies, Inc. <br>2.875%—07/01/2031<sup>2</sup><br>| 170 |

---

------

⬤

------

**Harbor Convertible Securities Fund (currently, Harbor Ares Systematic Convertible Securities Fund)**

**PORTFOLIO OF INVESTMENTS—Continued**

------

*Principal Amount, Value and Cost in Thousands* 

---

| | | |
|:---|:---|:---|
| **Convertible Bonds—Continued** | **Convertible Bonds—Continued** | **Convertible Bonds—Continued** |
| **Principal**<br> **Amount**<br>|  | **Value** |
| **ELECTRONIC EQUIPMENT, INSTRUMENTS & COMPONENTS—1.8%** | **ELECTRONIC EQUIPMENT, INSTRUMENTS & COMPONENTS—1.8%** | **ELECTRONIC EQUIPMENT, INSTRUMENTS & COMPONENTS—1.8%** |
| $100 | &nbsp;&nbsp;&nbsp; Advanced Energy Industries, Inc. <br>2.500%—09/15/2028<br>| $195 |
| 100 | &nbsp;&nbsp;&nbsp; Mirion Technologies, Inc. <br>0.250%—06/01/2030<sup>2</sup><br>| 129 |
| 200 | &nbsp;&nbsp;&nbsp; OSI Systems, Inc. <br>0.500%—02/01/2031<sup>2</sup><br>| 199 |
| 200 | &nbsp;&nbsp;&nbsp; Vishay Intertechnology, Inc. <br>2.250%—09/15/2030<br>| 202 |
|  |  | 725 |
| **ENERGY EQUIPMENT & SERVICES—2.0%** | **ENERGY EQUIPMENT & SERVICES—2.0%** | **ENERGY EQUIPMENT & SERVICES—2.0%** |
|  | Eos Energy Enterprises, Inc. |  |
| 200 | &nbsp;&nbsp;&nbsp; 1.750%—12/01/2031<sup>2</sup> | 237 |
| 100 | &nbsp;&nbsp;&nbsp; 6.750%—06/15/2030<sup>2</sup> | 308 |
|  |  | 545 |
| 100 | &nbsp;&nbsp;&nbsp; Green Plains, Inc. <br>5.250%—11/01/2030<br>| 114 |
| 100 | &nbsp;&nbsp;&nbsp; Sunrun, Inc. <br>4.000%—03/01/2030<br>| 145 |
|  |  | 804 |
| **ENTERTAINMENT—1.4%** | **ENTERTAINMENT—1.4%** | **ENTERTAINMENT—1.4%** |
| 400 | &nbsp;&nbsp;&nbsp; DraftKings Holdings, Inc. <br>0.000%—03/15/2028<sup>1</sup><br>| 363 |
| 200 | &nbsp;&nbsp;&nbsp; Live Nation Entertainment, Inc. <br>2.875%—10/15/2031<sup>2</sup><br>| 200 |
|  |  | 563 |
| **EQUITY REAL ESTATE INVESTMENT TRUSTS (REITS)—2.5%** | **EQUITY REAL ESTATE INVESTMENT TRUSTS (REITS)—2.5%** | **EQUITY REAL ESTATE INVESTMENT TRUSTS (REITS)—2.5%** |
| 200 | &nbsp;&nbsp;&nbsp; Blackstone Mortgage Trust, Inc. <br>5.500%—03/15/2027<br>| 198 |
| 100 | &nbsp;&nbsp;&nbsp; Kite Realty Group LP <br>0.750%—04/01/2027<sup>2</sup><br>| 105 |
| 100 | &nbsp;&nbsp;&nbsp; Pebblebrook Hotel Trust <br>1.625%—01/15/2030<sup>2</sup><br>| 98 |
| 100 | &nbsp;&nbsp;&nbsp; PennyMac Corp. <br>8.500%—06/01/2029<br>| 105 |
| 200 | &nbsp;&nbsp;&nbsp; Realty Income Corp. <br>3.500%—01/15/2029<sup>2</sup><br>| 204 |
| 100 | &nbsp;&nbsp;&nbsp; Starwood Property Trust, Inc. <br>6.750%—07/15/2027<br>| 104 |
| 200 | &nbsp;&nbsp;&nbsp; Tanger Properties LP <br>2.375%—01/15/2031<sup>2</sup><br>| 198 |
|  |  | 1012 |
| **FINANCIAL SERVICES—2.0%** | **FINANCIAL SERVICES—2.0%** | **FINANCIAL SERVICES—2.0%** |
| 100 | &nbsp;&nbsp;&nbsp; EZCORP, Inc. <br>3.750%—12/15/2029<sup>2</sup><br>| 202 |
|  | SoFi Technologies, Inc. |  |
| 300 | &nbsp;&nbsp;&nbsp; 0.000%—10/15/2026<sup>1,2</sup> | 357 |
| 100 | &nbsp;&nbsp;&nbsp; 1.250%—03/15/2029<sup>2</sup> | 250 |
|  |  | 607 |
|  |  | 809 |
| **GROUND TRANSPORTATION—1.0%** | **GROUND TRANSPORTATION—1.0%** | **GROUND TRANSPORTATION—1.0%** |
| 300 | &nbsp;&nbsp;&nbsp; Uber Technologies, Inc. <br>0.875%—12/01/2028<br>| 385 |

---

---

| | | |
|:---|:---|:---|
| **Convertible Bonds—Continued** | **Convertible Bonds—Continued** | **Convertible Bonds—Continued** |
| **Principal**<br> **Amount**<br>|  | **Value** |
| **HEALTH CARE PROVIDERS & SERVICES—3.7%** | **HEALTH CARE PROVIDERS & SERVICES—3.7%** | **HEALTH CARE PROVIDERS & SERVICES—3.7%** |
| $200 | &nbsp;&nbsp;&nbsp; Alphatec Holdings, Inc. <br>0.750%—03/15/2030<sup>2</sup><br>| $245 |
| 100 | &nbsp;&nbsp;&nbsp; CONMED Corp. <br>2.250%—06/15/2027<br>| 97 |
| 300 | &nbsp;&nbsp;&nbsp; Envista Holdings Corp. <br>1.750%—08/15/2028<br>| 292 |
| 300 | &nbsp;&nbsp;&nbsp; Haemonetics Corp. <br>2.500%—06/01/2029<br>| 297 |
| 100 | &nbsp;&nbsp;&nbsp; IRhythm Holdings, Inc. <br>1.500%—09/01/2029<br>| 128 |
| 100 | &nbsp;&nbsp;&nbsp; LeMaitre Vascular, Inc. <br>2.500%—02/01/2030<br>| 102 |
| 100 | &nbsp;&nbsp;&nbsp; Omnicell, Inc. <br>1.000%—12/01/2029<br>| 112 |
| 100 | &nbsp;&nbsp;&nbsp; Oscar Health, Inc. <br>2.250%—09/01/2030<sup>2</sup><br>| 99 |
| 100 | &nbsp;&nbsp;&nbsp; Tandem Diabetes Care, Inc. <br>1.500%—03/15/2029<br>| 102 |
|  |  | 1474 |
| **HOUSEHOLD DURABLES—1.1%** | **HOUSEHOLD DURABLES—1.1%** | **HOUSEHOLD DURABLES—1.1%** |
| 100 | &nbsp;&nbsp;&nbsp; LCI Industries <br>3.000%—03/01/2030<sup>2</sup><br>| 136 |
| 300 | &nbsp;&nbsp;&nbsp; Winnebago Industries, Inc. <br>3.250%—01/15/2030<br>| 292 |
|  |  | 428 |
| **INTERACTIVE MEDIA & SERVICES—0.7%** | **INTERACTIVE MEDIA & SERVICES—0.7%** | **INTERACTIVE MEDIA & SERVICES—0.7%** |
| 200 | &nbsp;&nbsp;&nbsp; Snap, Inc. <br>0.125%—03/01/2028<br>| 183 |
| 100 | &nbsp;&nbsp;&nbsp; Upwork, Inc. <br>0.250%—08/15/2026<br>| 98 |
|  |  | 281 |
| **INTERNET & CATALOG RETAIL—3.3%** | **INTERNET & CATALOG RETAIL—3.3%** | **INTERNET & CATALOG RETAIL—3.3%** |
| 200 | &nbsp;&nbsp;&nbsp; DoorDash, Inc. <br>0.000%—05/15/2030<sup>1,2</sup><br>| 201 |
|  | Etsy, Inc. |  |
| 300 | &nbsp;&nbsp;&nbsp; 0.125%—10/01/2026 | 299 |
| 400 | &nbsp;&nbsp;&nbsp; 0.125%—09/01/2027 | 373 |
|  |  | 672 |
| 100 | &nbsp;&nbsp;&nbsp; Groupon, Inc. <br>6.250%—03/15/2027<sup>2</sup><br>| 97 |
| 400 | &nbsp;&nbsp;&nbsp; Match Group Financeco 3, Inc. <br>2.000%—01/15/2030<sup>2</sup><br>| 362 |
|  |  | 1332 |
| **IT SERVICES—5.8%** | **IT SERVICES—5.8%** | **IT SERVICES—5.8%** |
| 500 | &nbsp;&nbsp;&nbsp; Akamai Technologies, Inc. <br>1.125%—02/15/2029<br>| 526 |
| 300 | &nbsp;&nbsp;&nbsp; Rubrik, Inc. <br>0.000%—06/15/2030<sup>1,2</sup><br>| 270 |
| 100 | &nbsp;&nbsp;&nbsp; Seagate HDD Cayman <br>3.500%—06/01/2028<br>| 497 |
| 300 | &nbsp;&nbsp;&nbsp; Snowflake, Inc. <br>0.000%—10/01/2027<sup>1</sup><br>| 407 |
| 500 | &nbsp;&nbsp;&nbsp; Super Micro Computer, Inc. <br>3.500%—03/01/2029<br>| 458 |

---

------

⬤

------

**Harbor Convertible Securities Fund (currently, Harbor Ares Systematic Convertible Securities Fund)**

**PORTFOLIO OF INVESTMENTS—Continued**

------

*Principal Amount, Value and Cost in Thousands* 

---

| | | |
|:---|:---|:---|
| **Convertible Bonds—Continued** | **Convertible Bonds—Continued** | **Convertible Bonds—Continued** |
| **Principal**<br> **Amount**<br>|  | **Value** |
| **IT SERVICES—Continued** | **IT SERVICES—Continued** | **IT SERVICES—Continued** |
| $200 | &nbsp;&nbsp;&nbsp; Zscaler, Inc. <br>0.000%—07/15/2028<sup>1,2</sup><br>| $186 |
|  |  | 2344 |
| **LEISURE PRODUCTS—0.5%** | **LEISURE PRODUCTS—0.5%** | **LEISURE PRODUCTS—0.5%** |
|  | NCL Corp. Ltd. |  |
| 100 | &nbsp;&nbsp;&nbsp; 0.750%—09/15/2030<sup>2</sup> | 98 |
| 100 | &nbsp;&nbsp;&nbsp; 1.125%—02/15/2027 | 100 |
|  |  | 198 |
| **MACHINERY—3.0%** | **MACHINERY—3.0%** | **MACHINERY—3.0%** |
| 500 | &nbsp;&nbsp;&nbsp; Bloom Energy Corp. <br>0.000%—11/15/2030<sup>1,2</sup><br>| 567 |
| 300 | &nbsp;&nbsp;&nbsp; BWX Technologies, Inc. <br>0.000%—11/01/2030<sup>1,2</sup><br>| 310 |
| 300 | &nbsp;&nbsp;&nbsp; JBT Marel Corp. <br>0.375%—09/15/2030<sup>2</sup><br>| 323 |
|  |  | 1200 |
| **MEDIA—1.4%** | **MEDIA—1.4%** | **MEDIA—1.4%** |
| 100 | &nbsp;&nbsp;&nbsp; Liberty Live Holdings, Inc. <br>2.375%—09/30/2053<sup>2</sup><br>| 147 |
| 400 | &nbsp;&nbsp;&nbsp; Sirius XM Holdings, Inc. <br>3.750%—03/15/2028<br>| 407 |
|  |  | 554 |
| **METALS & MINING—0.7%** | **METALS & MINING—0.7%** | **METALS & MINING—0.7%** |
| 100 | &nbsp;&nbsp;&nbsp; MP Materials Corp. <br>3.000%—03/01/2030<sup>2</sup><br>| 285 |
| **MULTI-UTILITIES—0.8%** | **MULTI-UTILITIES—0.8%** | **MULTI-UTILITIES—0.8%** |
|  | WEC Energy Group, Inc. |  |
| 100 | &nbsp;&nbsp;&nbsp; 3.375%—06/01/2028<sup>2</sup> | 103 |
| 200 | &nbsp;&nbsp;&nbsp; 4.375%—06/01/2027 | 233 |
|  |  | 336 |
| **OIL, GAS & CONSUMABLE FUELS—1.4%** | **OIL, GAS & CONSUMABLE FUELS—1.4%** | **OIL, GAS & CONSUMABLE FUELS—1.4%** |
| 200 | &nbsp;&nbsp;&nbsp; Centrus Energy Corp. <br>0.000%—08/15/2032<sup>1,2</sup><br>| 290 |
| 100 | &nbsp;&nbsp;&nbsp; Solaris Energy Infrastructure, Inc. <br>0.250%—10/01/2031<br>| 123 |
| 100 | &nbsp;&nbsp;&nbsp; UGI Corp. <br>5.000%—06/01/2028<br>| 151 |
|  |  | 564 |
| **PASSENGER AIRLINES—0.2%** | **PASSENGER AIRLINES—0.2%** | **PASSENGER AIRLINES—0.2%** |
| 100 | &nbsp;&nbsp;&nbsp; JetBlue Airways Corp. <br>2.500%—09/01/2029<br>| 102 |
| **PHARMACEUTICALS—2.1%** | **PHARMACEUTICALS—2.1%** | **PHARMACEUTICALS—2.1%** |
| 100 | &nbsp;&nbsp;&nbsp; Amphastar Pharmaceuticals, Inc. <br>2.000%—03/15/2029<br>| 94 |
| 100 | &nbsp;&nbsp;&nbsp; Dexcom, Inc. <br>0.375%—05/15/2028<br>| 94 |
| 100 | &nbsp;&nbsp;&nbsp; Jazz Investments I Ltd. <br>3.125%—09/15/2030<br>| 131 |
| 100 | &nbsp;&nbsp;&nbsp; Mirum Pharmaceuticals, Inc. <br>4.000%—05/01/2029<br>| 331 |

---

---

| | | |
|:---|:---|:---|
| **Convertible Bonds—Continued** | **Convertible Bonds—Continued** | **Convertible Bonds—Continued** |
| **Principal**<br> **Amount**<br>|  | **Value** |
| **PHARMACEUTICALS—Continued** | **PHARMACEUTICALS—Continued** | **PHARMACEUTICALS—Continued** |
| $200 | &nbsp;&nbsp;&nbsp; Pacira BioSciences, Inc. <br>2.125%—05/15/2029<br>| $190 |
|  |  | 840 |
| **PROFESSIONAL SERVICES—0.6%** | **PROFESSIONAL SERVICES—0.6%** | **PROFESSIONAL SERVICES—0.6%** |
| 100 | &nbsp;&nbsp;&nbsp; Planet Labs PBC <br>0.500%—10/15/2030<sup>2</sup><br>| 228 |
| **ROAD & RAIL—0.2%** | **ROAD & RAIL—0.2%** | **ROAD & RAIL—0.2%** |
| 100 | &nbsp;&nbsp;&nbsp; CryoPort, Inc. <br>0.750%—12/01/2026<sup>2</sup><br>| 96 |
| **SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT—1.0%** | **SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT—1.0%** | **SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT—1.0%** |
| 100 | &nbsp;&nbsp;&nbsp; MACOM Technology Solutions Holdings, Inc. <br>0.000%—12/15/2029<sup>1</sup><br>| 144 |
| 100 | &nbsp;&nbsp;&nbsp; MKS, Inc. <br>1.250%—06/01/2030<br>| 168 |
| 100 | &nbsp;&nbsp;&nbsp; ON Semiconductor Corp. <br>0.500%—03/01/2029<br>| 98 |
|  |  | 410 |
| **SOFTWARE—9.3%** | **SOFTWARE—9.3%** | **SOFTWARE—9.3%** |
| 300 | &nbsp;&nbsp;&nbsp; Akamai Technologies, Inc. <br>0.375%—09/01/2027<br>| 319 |
| 100 | &nbsp;&nbsp;&nbsp; Alignment Healthcare, Inc. <br>4.250%—11/15/2029<br>| 167 |
| 100 | &nbsp;&nbsp;&nbsp; Bandwidth, Inc. <br>0.500%—04/01/2028<br>| 88 |
| 100 | &nbsp;&nbsp;&nbsp; Bentley Systems, Inc. <br>0.375%—07/01/2027<br>| 96 |
| 100 | &nbsp;&nbsp;&nbsp; Cerence, Inc. <br>1.500%—07/01/2028<br>| 91 |
| 200 | &nbsp;&nbsp;&nbsp; Cloudflare, Inc. <br>0.000%—06/15/2030<sup>1,2</sup><br>| 211 |
| 100 | &nbsp;&nbsp;&nbsp; Confluent, Inc. <br>0.000%—01/15/2027<sup>1</sup><br>| 98 |
| 200 | &nbsp;&nbsp;&nbsp; CoreWeave, Inc. <br>1.750%—12/01/2031<sup>2</sup><br>| 231 |
| 100 | &nbsp;&nbsp;&nbsp; CyberArk Software Ltd. <br>0.000%—06/15/2030<sup>1,2</sup><br>| 106 |
| 100 | &nbsp;&nbsp;&nbsp; Datadog, Inc. <br>0.000%—12/01/2029<sup>1</sup><br>| 99 |
|  | DigitalOcean Holdings, Inc. |  |
| 200 | &nbsp;&nbsp;&nbsp; 0.000%—12/01/2026<sup>1</sup> | 194 |
| 100 | &nbsp;&nbsp;&nbsp; 0.000%—08/15/2030<sup>1,2</sup> | 158 |
|  |  | 352 |
| 200 | &nbsp;&nbsp;&nbsp; Dropbox, Inc. <br>0.000%—03/01/2028<sup>1</sup><br>| 198 |
| 100 | &nbsp;&nbsp;&nbsp; Fastly, Inc. <br>0.000%—12/15/2030<sup>1,2</sup><br>| 95 |
| 100 | &nbsp;&nbsp;&nbsp; Porch Group, Inc. <br>6.750%—10/01/2028<sup>2</sup><br>| 101 |
|  | Strategy, Inc. |  |
| 300 | &nbsp;&nbsp;&nbsp; 0.000%—12/01/2029<sup>1</sup> | 254 |
| 200 | &nbsp;&nbsp;&nbsp; 2.250%—06/15/2032 | 224 |
|  |  | 478 |
|  | Unity Software, Inc. |  |
| 400 | &nbsp;&nbsp;&nbsp; 0.000%—11/15/2026<sup>1</sup> | 387 |
| 200 | &nbsp;&nbsp;&nbsp; 0.000%—03/15/2030<sup>1,2</sup> | 225 |
|  |  | 612 |

---

------

⬤

------

**Harbor Convertible Securities Fund (currently, Harbor Ares Systematic Convertible Securities Fund)**

**PORTFOLIO OF INVESTMENTS—Continued**

------

*Principal Amount, Value and Cost in Thousands* 

---

| | | |
|:---|:---|:---|
| **Convertible Bonds—Continued** | **Convertible Bonds—Continued** | **Convertible Bonds—Continued** |
| **Principal**<br> **Amount**<br>|  | **Value** |
| **SOFTWARE—Continued** | **SOFTWARE—Continued** | **SOFTWARE—Continued** |
| $400 | &nbsp;&nbsp;&nbsp; Workiva, Inc. <br>1.250%—08/15/2028<br>| $388 |
|  |  | 3730 |
| **SPECIALTY RETAIL—1.8%** | **SPECIALTY RETAIL—1.8%** | **SPECIALTY RETAIL—1.8%** |
| 300 | &nbsp;&nbsp;&nbsp; GameStop Corp. <br>0.000%—04/01/2030<sup>1,2</sup><br>| 325 |
|  | Wayfair, Inc. |  |
| 100 | &nbsp;&nbsp;&nbsp; 3.250%—09/15/2027 | 171 |
| 100 | &nbsp;&nbsp;&nbsp; 3.500%—11/15/2028 | 236 |
|  |  | 407 |
|  |  | 732 |
| **TECHNOLOGY HARDWARE, STORAGE & PERIPHERALS—3.3%** | **TECHNOLOGY HARDWARE, STORAGE & PERIPHERALS—3.3%** | **TECHNOLOGY HARDWARE, STORAGE & PERIPHERALS—3.3%** |
| 200 | &nbsp;&nbsp;&nbsp; Western Digital Corp. <br>3.000%—11/15/2028<br>| 1329 |
| **WIRELESS TELECOMMUNICATION SERVICES—1.0%** | **WIRELESS TELECOMMUNICATION SERVICES—1.0%** | **WIRELESS TELECOMMUNICATION SERVICES—1.0%** |
| 100 | &nbsp;&nbsp;&nbsp; InterDigital, Inc. <br>3.500%—06/01/2027<br>| 423 |
| &nbsp;&nbsp;&nbsp; **Total Convertible Bonds** <br>(Cost $29,826) | &nbsp;&nbsp;&nbsp; **Total Convertible Bonds** <br>(Cost $29,826) | 33890 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
| **Convertible Preferred Stocks—12.7%** | **Convertible Preferred Stocks—12.7%** | **Convertible Preferred Stocks—12.7%** |
| **Shares** |  |  |
| **AEROSPACE & DEFENSE—2.4%** | **AEROSPACE & DEFENSE—2.4%** | **AEROSPACE & DEFENSE—2.4%** |
| 13142 | &nbsp;&nbsp;&nbsp; Boeing Co.—6.000% | 982 |
| **BANKS—3.0%** | **BANKS—3.0%** | **BANKS—3.0%** |
| 408 | &nbsp;&nbsp;&nbsp; Bank of America Corp.—7.250% | 508 |
| 550 | &nbsp;&nbsp;&nbsp; Wells Fargo & Co.—7.500% | 679 |
|  |  | 1187 |
| **CAPITAL MARKETS—0.7%** | **CAPITAL MARKETS—0.7%** | **CAPITAL MARKETS—0.7%** |
| 5861 | &nbsp;&nbsp;&nbsp; KKR & Co., Inc.—6.250% | 287 |

---

---

| | | |
|:---|:---|:---|
| **Convertible Preferred Stocks—Continued** | **Convertible Preferred Stocks—Continued** | **Convertible Preferred Stocks—Continued** |
| **Shares** |  | **Value** |
| **CHEMICALS—1.1%** | **CHEMICALS—1.1%** | **CHEMICALS—1.1%** |
| 6198 | &nbsp;&nbsp;&nbsp; Albemarle Corp.—7.250% | $430 |
| **ELECTRIC UTILITIES—2.0%** | **ELECTRIC UTILITIES—2.0%** | **ELECTRIC UTILITIES—2.0%** |
| 774 | &nbsp;&nbsp;&nbsp; NextEra Energy, Inc.—7.234% | 40 |
| 11035 | &nbsp;&nbsp;&nbsp; NextEra Energy, Inc.—7.299% | 612 |
| 4180 | &nbsp;&nbsp;&nbsp; PG&E Corp.—6.000% | 167 |
|  |  | 819 |
| **FINANCIAL SERVICES—0.9%** | **FINANCIAL SERVICES—0.9%** | **FINANCIAL SERVICES—0.9%** |
| 3483 | &nbsp;&nbsp;&nbsp; Apollo Global Management, Inc.—6.750% | 242 |
| 1591 | &nbsp;&nbsp;&nbsp; Shift4 Payments, Inc.—6.000% | 119 |
|  |  | 361 |
| **HEALTH CARE PROVIDERS & SERVICES—0.5%** | **HEALTH CARE PROVIDERS & SERVICES—0.5%** | **HEALTH CARE PROVIDERS & SERVICES—0.5%** |
| 1498 | &nbsp;&nbsp;&nbsp; BrightSpring Health Services, Inc.—6.750% | 200 |
| **OIL, GAS & CONSUMABLE FUELS—0.9%** | **OIL, GAS & CONSUMABLE FUELS—0.9%** | **OIL, GAS & CONSUMABLE FUELS—0.9%** |
| 7200 | &nbsp;&nbsp;&nbsp; El Paso Energy Capital Trust I—4.750% | 360 |
| **SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT—0.4%** | **SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT—0.4%** | **SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT—0.4%** |
| 2453 | &nbsp;&nbsp;&nbsp; Microchip Technology, Inc.—7.500% | 164 |
| **TECHNOLOGY HARDWARE, STORAGE & PERIPHERALS—0.6%** | **TECHNOLOGY HARDWARE, STORAGE & PERIPHERALS—0.6%** | **TECHNOLOGY HARDWARE, STORAGE & PERIPHERALS—0.6%** |
| 4022 | &nbsp;&nbsp;&nbsp; Hewlett Packard Enterprise Co.—7.625% | 243 |
| **TRADING COMPANIES & DISTRIBUTORS—0.2%** | **TRADING COMPANIES & DISTRIBUTORS—0.2%** | **TRADING COMPANIES & DISTRIBUTORS—0.2%** |
| 1265 | &nbsp;&nbsp;&nbsp; QXO, Inc.—5.500% | 80 |
| &nbsp;&nbsp;&nbsp; **Total Convertible Preferred Stocks** <br>(Cost $4,821) | &nbsp;&nbsp;&nbsp; **Total Convertible Preferred Stocks** <br>(Cost $4,821) | 5113 |
| &nbsp;&nbsp;&nbsp; **TOTAL INVESTMENTS—96.9%** <br>(Cost $34,647) | &nbsp;&nbsp;&nbsp; **TOTAL INVESTMENTS—96.9%** <br>(Cost $34,647) | 39003 |
| **CASH AND OTHER ASSETS, LESS LIABILITIES—3.1%** | **CASH AND OTHER ASSETS, LESS LIABILITIES—3.1%** | 1242 |
| **TOTAL NET ASSETS—100.0%** | **TOTAL NET ASSETS—100.0%** | $40245 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

**FAIR VALUE MEASUREMENTS**

As of January 31, 2026, 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.

------

Zero coupon bond

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, 2026, the aggregate value of these securities was $15,008 or 37% of net assets.

The accompanying notes are an integral part of the Portfolios of Investments.

------

⬤

------

**Harbor Core Bond Fund**

**PORTFOLIO OF INVESTMENTS—January 31, 2026 (Unaudited)**

------

*Principal Amount, Value and Cost in Thousands*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
| **Asset-Backed Securities—12.5%** | **Asset-Backed Securities—12.5%** | **Asset-Backed Securities—12.5%** |
| **Principal** <br>**Amount**<br>|  | **Value** |
| $385 | &nbsp;&nbsp;&nbsp; Aligned Data Centers Issuer LLC <br>Series 2021-1A Cl. A2 <br>1.937%—08/15/2046<sup>1</sup><br>| $380 |
|  | AMSR Trust |  |
| 782 | &nbsp;&nbsp;&nbsp; Series 2022-SFR3 Cl. A <br>4.000%—10/17/2039<sup>1</sup><br>| 778 |
| 7154 | &nbsp;&nbsp;&nbsp; Series 2024-SFR1 Cl. A <br>4.290%—07/17/2041<sup>1,2</sup><br>| 7111 |
|  |  | 7889 |
| 1120 | &nbsp;&nbsp;&nbsp; Apidos CLO XLVII Ltd. <br>Series 2024-47A Cl. A1 <br>5.168% (3 Month USD Term SOFR + 1.500%) <br> 04/26/2037<sup>1,3</sup><br>| 1123 |
| 4782 | &nbsp;&nbsp;&nbsp; Apidos CLO XXXIX Ltd. <br>Series 2022-39A Cl. A1R <br>4.900% (3 Month USD Term SOFR + 1.230%) <br> 10/21/2038<sup>1,3</sup><br>| 4793 |
|  | Avis Budget Rental Car Funding AESOP LLC |  |
| 2500 | &nbsp;&nbsp;&nbsp; Series 2024-3A Cl. A <br>5.230%—12/20/2030<sup>1</sup><br>| 2573 |
| 1513 | &nbsp;&nbsp;&nbsp; Series 2024-1A Cl. A <br>5.360%—06/20/2030<sup>1</sup><br>| 1564 |
|  |  | 4137 |
|  | CIFC Funding Ltd. |  |
| 5816 | &nbsp;&nbsp;&nbsp; Series 2014-4RA Cl. A1A2 <br>4.658% (3 Month USD Term SOFR + 0.990%) <br> 01/17/2035<sup>1,3</sup><br>| 5820 |
| 1630 | &nbsp;&nbsp;&nbsp; Series 2022-1A Cl. A <br>4.988% (3 Month USD Term SOFR + 1.320%) <br> 04/17/2035<sup>1,3</sup><br>| 1633 |
| 1548 | &nbsp;&nbsp;&nbsp; Series 2024-3A Cl. A1 <br>5.150% (3 Month USD Term SOFR + 1.480%) <br> 07/21/2037<sup>1,3</sup><br>| 1554 |
| 497 | &nbsp;&nbsp;&nbsp; Series 2023-3A Cl. A <br>5.268% (3 Month USD Term SOFR + 1.600%) <br> 01/20/2037<sup>1,3</sup><br>| 497 |
|  |  | 9504 |
| 862 | &nbsp;&nbsp;&nbsp; Citizens Auto Receivables Trust <br>Series 2024-1 Cl. A3 <br>5.110%—04/17/2028<sup>1</sup><br>| 866 |
| 4344 | &nbsp;&nbsp;&nbsp; Compass Datacenters Issuer III LLC <br>Series 2025-3A Cl. A2 <br>5.286%—07/25/2050<sup>1</sup><br>| 4366 |
|  | DB Master Finance LLC |  |
| 2275 | &nbsp;&nbsp;&nbsp; Series 2021-1A Cl. A2I <br>2.045%—11/20/2051<sup>1</sup><br>| 2238 |
| 1845 | &nbsp;&nbsp;&nbsp; Series 2017-1A Cl. A2II <br>4.030%—11/20/2047<sup>1</sup><br>| 1835 |
| 6600 | &nbsp;&nbsp;&nbsp; Series 2019-1A Cl. A23 <br>4.352%—05/20/2049<sup>1</sup><br>| 6534 |
|  |  | 10607 |
| 5091 | &nbsp;&nbsp;&nbsp; Domino's Pizza Master Issuer LLC <br>Series 2021-1A Cl. A2I <br>2.662%—04/25/2051<sup>1</sup><br>| 4854 |
| 2976 | &nbsp;&nbsp;&nbsp; Elmwood CLO 30 Ltd. <br>Series 2024-6A Cl. A <br>5.098% (3 Month USD Term SOFR + 1.430%) <br> 07/17/2037<sup>1,3</sup><br>| 2989 |

---

---

| | | |
|:---|:---|:---|
| **Asset-Backed Securities—Continued** | **Asset-Backed Securities—Continued** | **Asset-Backed Securities—Continued** |
| **Principal**<br> **Amount**<br>|  | **Value** |
| $3172 | &nbsp;&nbsp;&nbsp; Elmwood CLO 31 Ltd. <br>Series 2024-7A Cl. A1 <br>5.018% (3 Month USD Term SOFR + 1.350%) <br> 07/17/2037<sup>1,3</sup><br>| $3175 |
| 4199 | &nbsp;&nbsp;&nbsp; Elmwood CLO 39 Ltd. <br>Series 2025-2A Cl. A1 <br>4.808% (3 Month USD Term SOFR + 1.140%) <br> 04/17/2038<sup>1,3</sup><br>| 4204 |
| 768 | &nbsp;&nbsp;&nbsp; Enterprise Fleet Financing LLC <br>Series 2024-1 Cl. A2 <br>5.230%—03/20/2030<sup>1</sup><br>| 773 |
| 320 | &nbsp;&nbsp;&nbsp; FirstKey Homes Trust <br>Series 2021-SFR1 Cl. A <br>1.538%—08/17/2038<sup>1</sup><br>| 316 |
| 1000 | &nbsp;&nbsp;&nbsp; Ford Credit Auto Owner Trust <br>Series 2023-2 Cl. A <br>5.280%—02/15/2036<sup>1</sup><br>| 1033 |
| 846 | &nbsp;&nbsp;&nbsp; GM Financial Automobile Leasing Trust <br>Series 2024-1 Cl. A3 <br>5.090%—03/22/2027<br>| 848 |
|  | GM Financial Consumer Automobile Receivables <br> Trust<br>|  |
| 259 | &nbsp;&nbsp;&nbsp; Series 2022-3 Cl. A4 <br>3.710%—12/16/2027<br>| 259 |
| 923 | &nbsp;&nbsp;&nbsp; Series 2024-1 Cl. A3 <br>4.850%—12/18/2028<br>| 929 |
|  |  | 1188 |
|  | GMF Floorplan Owner Revolving Trust |  |
| 3710 | &nbsp;&nbsp;&nbsp; Series 2024-2A Cl. A <br>5.060%—03/15/2031<sup>1</sup><br>| 3826 |
| 2081 | &nbsp;&nbsp;&nbsp; Series 2023-2 Cl. A <br>5.340%—06/15/2030<sup>1</sup><br>| 2148 |
|  |  | 5974 |
| 5324 | &nbsp;&nbsp;&nbsp; Golub Capital Partners CLO 62B Ltd. <br>Series 2022-62A Cl. AR <br>5.042% (3 Month USD Term SOFR + 1.370%) <br> 10/15/2037<sup>1,3</sup><br>| 5341 |
|  | Home Partners of America Trust |  |
| 215 | &nbsp;&nbsp;&nbsp; Series 2020-2 Cl. A <br>1.532%—01/17/2041<sup>1</sup><br>| 198 |
| 128 | &nbsp;&nbsp;&nbsp; Series 2022-1 Cl. A <br>3.930%—04/17/2039<sup>1</sup><br>| 128 |
|  |  | 326 |
| 2000 | &nbsp;&nbsp;&nbsp; Kubota Credit Owner Trust <br>Series 2024-1A Cl. A3 <br>5.190%—07/17/2028<sup>1</sup><br>| 2024 |
| 362 | &nbsp;&nbsp;&nbsp; Mercedes-Benz Auto Receivables Trust <br>Series 2022-1 Cl. A4 <br>5.250%—02/15/2029<br>| 365 |
|  | Navient Private Education Refi Loan Trust |  |
| 67 | &nbsp;&nbsp;&nbsp; Series 2021-A Cl. A <br>0.840%—05/15/2069<sup>1</sup><br>| 62 |
| 157 | &nbsp;&nbsp;&nbsp; Series 2021-BA Cl. A <br>0.940%—07/15/2069<sup>1</sup><br>| 144 |
|  |  | 206 |
|  | NextGear Floorplan Master Owner Trust |  |
| 3147 | &nbsp;&nbsp;&nbsp; Series 2024-1A Cl. A2 <br>5.120%—03/15/2029<sup>1</sup><br>| 3194 |
| 1087 | &nbsp;&nbsp;&nbsp; Series 2023-1A Cl. A2 <br>5.740%—03/15/2028<sup>1</sup><br>| 1089 |
|  |  | 4283 |

---

------

⬤

------

**Harbor Core Bond Fund**

**PORTFOLIO OF INVESTMENTS—Continued**

------

*Principal Amount, Value and Cost in Thousands* 

---

| | | |
|:---|:---|:---|
| **Asset-Backed Securities—Continued** | **Asset-Backed Securities—Continued** | **Asset-Backed Securities—Continued** |
| **Principal**<br> **Amount**<br>|  | **Value** |
|  | Palmer Square CLO Ltd. |  |
| $7611 | &nbsp;&nbsp;&nbsp; Series 2021-4A Cl. A1R <br>4.992% (3 Month USD Term SOFR + 1.320%) <br> 07/15/2038<sup>1,3</sup><br>| $7660 |
| 3427 | &nbsp;&nbsp;&nbsp; Series 2022-4A Cl. A1R <br>5.018% (3 Month USD Term SOFR + 1.350%) <br> 10/20/2037<sup>1,3</sup><br>| 3440 |
| 1105 | &nbsp;&nbsp;&nbsp; Series 2024-1A Cl. A <br>5.172% (3 Month USD Term SOFR + 1.500%) <br> 04/15/2037<sup>1,3</sup><br>| 1108 |
|  |  | 12208 |
|  | PFS Financing Corp. |  |
| 2129 | &nbsp;&nbsp;&nbsp; Series 2024-B Cl. A <br>4.950%—02/15/2029<sup>1</sup><br>| 2153 |
| 2833 | &nbsp;&nbsp;&nbsp; Series 2024-D Cl. A <br>5.340%—04/15/2029<sup>1</sup><br>| 2881 |
| 522 | &nbsp;&nbsp;&nbsp; Series 2023-A Cl. A <br>5.800%—03/15/2028<sup>1</sup><br>| 523 |
|  |  | 5557 |
| 3041 | &nbsp;&nbsp;&nbsp; Planet Fitness Master Issuer LLC <br>Series 2024-1A Cl. A2I <br>5.765%—06/05/2054<sup>1</sup><br>| 3094 |
|  | Progress Residential Trust |  |
| 1058 | &nbsp;&nbsp;&nbsp; Series 2022-SFR2 Cl. A <br>2.950%—04/17/2027<sup>1</sup><br>| 1042 |
| 6654 | &nbsp;&nbsp;&nbsp; Series 2024-SFR3 Cl. A <br>3.000%—06/17/2041<sup>1</sup><br>| 6355 |
|  |  | 7397 |
|  | SBA Small Business Investment Cos. |  |
| 4200 | &nbsp;&nbsp;&nbsp; Series 2025-10A Cl. 1 <br>4.963%—03/10/2035<br>| 4277 |
| 3965 | &nbsp;&nbsp;&nbsp; Series 2024-10A Cl. 1 <br>5.035%—03/10/2034<br>| 4004 |
| 1347 | &nbsp;&nbsp;&nbsp; Series 2023-10A Cl. 1 <br>5.168%—03/10/2033<br>| 1373 |
| 5773 | &nbsp;&nbsp;&nbsp; Series 2023-10B Cl. 1 <br>5.688%—09/10/2033<br>| 6006 |
|  |  | 15660 |
| 3568 | &nbsp;&nbsp;&nbsp; SBNA Auto Lease Trust <br>Series 2024-B Cl. A3 <br>5.560%—11/22/2027<sup>1</sup><br>| 3586 |
| 3234 | &nbsp;&nbsp;&nbsp; Servpro Master Issuer LLC <br>Series 2024-1A Cl. A2 <br>6.174%—01/25/2054<sup>1</sup><br>| 3348 |
| 884 | &nbsp;&nbsp;&nbsp; SFS Auto Receivables Securitization Trust <br>Series 2024-1A Cl. A3 <br>4.950%—05/21/2029<sup>1</sup><br>| 889 |
| 161 | &nbsp;&nbsp;&nbsp; Store Master Funding I-VII & XIV <br>Series 2019-1 Cl. A1 <br>2.820%—11/20/2049<sup>1</sup><br>| 159 |
| 6700 | &nbsp;&nbsp;&nbsp; STORE Master Funding LLC <br>Series 2025-1A Cl. A2 <br>4.980%—10/20/2055<sup>1</sup><br>| 6639 |
|  | Subway Funding LLC |  |
| 3950 | &nbsp;&nbsp;&nbsp; Series 2024-1A Cl. A2I <br>6.028%—07/30/2054<sup>1</sup><br>| 4005 |
| 2076 | &nbsp;&nbsp;&nbsp; Series 2024-1A Cl. A2II <br>6.268%—07/30/2054<sup>1</sup><br>| 2120 |
|  |  | 6125 |

---

---

| | | |
|:---|:---|:---|
| **Asset-Backed Securities—Continued** | **Asset-Backed Securities—Continued** | **Asset-Backed Securities—Continued** |
| **Principal**<br> **Amount**<br>|  | **Value** |
|  | Taco Bell Funding LLC |  |
| $2555 | &nbsp;&nbsp;&nbsp; Series 2021-1A Cl. A2I <br>1.946%—08/25/2051<sup>1</sup><br>| $2496 |
| 614 | &nbsp;&nbsp;&nbsp; Series 2021-1A Cl. A2II <br>2.294%—08/25/2051<sup>1</sup><br>| 572 |
|  |  | 3068 |
|  | Tricon Residential Trust |  |
| 3052 | &nbsp;&nbsp;&nbsp; Series 2024-SFR3 Cl. A <br>4.500%—08/17/2041<sup>1</sup><br>| 3037 |
| 5184 | &nbsp;&nbsp;&nbsp; Series 2024-SFR2 Cl. A <br>4.750%—06/17/2040<sup>1</sup><br>| 5195 |
| 5719 | &nbsp;&nbsp;&nbsp; Series 2023-SFR2 Cl. A <br>5.000%—12/17/2040<sup>1</sup><br>| 5731 |
|  |  | 13963 |
|  | U.S. Small Business Administration |  |
| 42 | &nbsp;&nbsp;&nbsp; Series 2012-20C Cl. 1 <br>2.510%—03/01/2032<br>| 40 |
| 76 | &nbsp;&nbsp;&nbsp; Series 2017-20H Cl. 1 <br>2.750%—08/01/2037<br>| 70 |
| 124 | &nbsp;&nbsp;&nbsp; Series 2014-20K Cl. 1 <br>2.800%—11/01/2034<br>| 117 |
| 122 | &nbsp;&nbsp;&nbsp; Series 2015-20H Cl. 1 <br>2.820%—08/01/2035<br>| 117 |
| 144 | &nbsp;&nbsp;&nbsp; Series 2018-20B Cl. 1 <br>3.220%—02/01/2038<br>| 136 |
| 258 | &nbsp;&nbsp;&nbsp; Series 2023-25B Cl. 1 <br>4.610%—02/01/2048<br>| 255 |
| 7598 | &nbsp;&nbsp;&nbsp; Series 2025-25K Cl. 1 <br>4.730%—11/01/2050<br>| 7636 |
| 926 | &nbsp;&nbsp;&nbsp; Series 2023-25A Cl. 1 <br>4.910%—01/01/2048<br>| 929 |
| 2920 | &nbsp;&nbsp;&nbsp; Series 2024-25C Cl. 1 <br>4.970%—03/01/2049<br>| 2971 |
| 6018 | &nbsp;&nbsp;&nbsp; Series 2024-25K Cl. 1 <br>5.010%—11/01/2049<br>| 6080 |
| 1139 | &nbsp;&nbsp;&nbsp; Series 2024-25A Cl. 1 <br>5.050%—01/01/2049<br>| 1147 |
| 3704 | &nbsp;&nbsp;&nbsp; Series 2024-25B Cl. 1 <br>5.070%—02/01/2049<br>| 3746 |
| 950 | &nbsp;&nbsp;&nbsp; Series 2022-25K Cl. 1 <br>5.130%—11/01/2047<br>| 973 |
| 2325 | &nbsp;&nbsp;&nbsp; Series 2023-25H Cl. 1 <br>5.150%—08/01/2048<br>| 2363 |
| 1662 | &nbsp;&nbsp;&nbsp; Series 2023-25L Cl. 1 <br>5.280%—12/01/2048<br>| 1698 |
| 4153 | &nbsp;&nbsp;&nbsp; Series 2024-25D Cl. 1 <br>5.380%—04/01/2049<br>| 4266 |
| 475 | &nbsp;&nbsp;&nbsp; Series 2023-25I Cl. 1 <br>5.410%—09/01/2048<br>| 494 |
| 1058 | &nbsp;&nbsp;&nbsp; Series 2023-25K Cl. 1 <br>5.710%—11/01/2048<br>| 1117 |
|  |  | 34155 |
|  | Wendy's Funding LLC |  |
| 195 | &nbsp;&nbsp;&nbsp; Series 2021-1A Cl. A2I <br>2.370%—06/15/2051<sup>1</sup><br>| 182 |

---

------

⬤

------

**Harbor Core Bond Fund**

**PORTFOLIO OF INVESTMENTS—Continued**

------

*Principal Amount, Value and Cost in Thousands* 

---

| | |
|:---|:---|
| **Asset-Backed Securities—Continued** | **Asset-Backed Securities—Continued** |
| **Principal**<br> **Amount**<br>| **Value** |
| $955<br> &nbsp;&nbsp;&nbsp; Series 2021-1A Cl. A2II <br>2.775%—06/15/2051<sup>1</sup><br>| $858 |
| 3171<br> &nbsp;&nbsp;&nbsp; Series 2019-1A Cl. A2II <br>4.080%—06/15/2049<sup>1</sup><br>| 3106 |
|  | 4146 |
| &nbsp;&nbsp;&nbsp; **Total Asset-Backed Securities** <br>(Cost $198,940) | $201558 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
| **Collateralized Mortgage Obligations—8.1%** | **Collateralized Mortgage Obligations—8.1%** | **Collateralized Mortgage Obligations—8.1%** |
| 4092 | &nbsp;&nbsp;&nbsp; ARES Commercial Mortgage Trust <br>Series 2025-IND3 Cl. A <br>5.180% (1 Month USD Term SOFR + 1.500%) <br> 04/15/2042<sup>1,3</sup><br>| 4103 |
|  | Bank |  |
| 7490 | &nbsp;&nbsp;&nbsp; Series 2021-BN35 Cl. A4 <br>2.031%—06/15/2064<br>| 6671 |
| 709 | &nbsp;&nbsp;&nbsp; Series 2017-BNK6 Cl. A5 <br>3.518%—07/15/2060<br>| 703 |
|  |  | 7374 |
|  | Bank5 |  |
| 6513 | &nbsp;&nbsp;&nbsp; Series 2023-5YR1 Cl. A3 <br>6.260%—04/15/2056<sup>3</sup><br>| 6755 |
| 5563 | &nbsp;&nbsp;&nbsp; Series 2023-5YR3 Cl. A3 <br>6.724%—09/15/2056<sup>3</sup><br>| 5878 |
|  |  | 12633 |
|  | BBCMS Mortgage Trust |  |
| 4623 | &nbsp;&nbsp;&nbsp; Series 2024-C26 Cl. A5 <br>5.829%—05/15/2057<br>| 4955 |
| 3466 | &nbsp;&nbsp;&nbsp; Series 2024-5C25 Cl. A3 <br>5.946%—03/15/2057<br>| 3624 |
| 6382 | &nbsp;&nbsp;&nbsp; Series 2024-5C27 Cl. A3 <br>6.014%—07/15/2057<br>| 6707 |
|  |  | 15286 |
|  | Benchmark Mortgage Trust |  |
| 387 | &nbsp;&nbsp;&nbsp; Series 2021-B26 Cl. A3 <br>2.391%—06/15/2054<br>| 367 |
| 2440 | &nbsp;&nbsp;&nbsp; Series 2024-V5 Cl. A3 <br>5.805%—01/10/2057<br>| 2541 |
| 700 | &nbsp;&nbsp;&nbsp; Series 2023-V2 Cl. A3 <br>5.812%—05/15/2055<sup>3</sup><br>| 723 |
| 5913 | &nbsp;&nbsp;&nbsp; Series 2024-V6 Cl. A3 <br>5.926%—03/15/2057<br>| 6185 |
| 4000 | &nbsp;&nbsp;&nbsp; Series 2023-V4 Cl. A3 <br>6.841%—11/15/2056<sup>3</sup><br>| 4237 |
|  |  | 14053 |
|  | BMO Mortgage Trust |  |
| 4600 | &nbsp;&nbsp;&nbsp; Series 2026-C14 Cl. A5 <br>5.317%—02/15/2059<br>| 4734 |
| 549 | &nbsp;&nbsp;&nbsp; Series 2023-C7 Cl. A5 <br>6.160%—12/15/2056<br>| 588 |
|  |  | 5322 |

---

---

| | | |
|:---|:---|:---|
| **Collateralized Mortgage Obligations—Continued** | **Collateralized Mortgage Obligations—Continued** | **Collateralized Mortgage Obligations—Continued** |
| **Principal**<br> **Amount**<br>|  | **Value** |
|  | BX Commercial Mortgage Trust |  |
| $2040 | &nbsp;&nbsp;&nbsp; Series 2024-XL5 Cl. A <br>5.072% (1 Month USD Term SOFR + 1.392%) <br> 03/15/2041<sup>1,3</sup><br>| $2044 |
| 112 | &nbsp;&nbsp;&nbsp; Series 2023-XL3 Cl. A <br>5.442% (1 Month USD Term SOFR + 1.761%) <br> 12/09/2040<sup>1,3</sup><br>| 112 |
|  |  | 2156 |
|  | BX Trust |  |
| 4125 | &nbsp;&nbsp;&nbsp; Series 2025-VLT6 Cl. A <br>5.123% (1 Month USD Term SOFR + 1.443%) <br> 03/15/2042<sup>1,3</sup><br>| 4136 |
| 8189 | &nbsp;&nbsp;&nbsp; Series 2025-VOLT Cl. A <br>5.380% (1 Month USD Term SOFR + 1.700%) <br> 12/15/2044<sup>1,3</sup><br>| 8241 |
| 2699 | &nbsp;&nbsp;&nbsp; Series 2022-CLS Cl. A <br>5.760%—10/13/2027<sup>1</sup><br>| 2716 |
|  |  | 15093 |
| 4371 | &nbsp;&nbsp;&nbsp; Chase Home Lending Mortgage Trust <br>Series 2024-9 Cl. A4 <br>5.500%—09/25/2055<sup>1,3</sup><br>| 4383 |
| 1349 | &nbsp;&nbsp;&nbsp; Citigroup Commercial Mortgage Trust <br>Series 2016-C2 Cl. A3 <br>2.575%—08/10/2049<br>| 1345 |
| 2795 | &nbsp;&nbsp;&nbsp; Citigroup Mortgage Loan Trust, Inc. <br>Series 2025-1 Cl. A8 <br>5.500%—01/25/2055<sup>1,3</sup><br>| 2818 |
| 358 | &nbsp;&nbsp;&nbsp; COMM Mortgage Trust <br>Series 2016-COR1 Cl. A3 <br>2.826%—10/10/2049<br>| 356 |
| 126 | &nbsp;&nbsp;&nbsp; Federal Home Loan Mortgage Corp. Seasoned <br> Credit Risk Transfer Trust <br>Series 2019-2 Cl. MA <br>3.500%—08/26/2058<br>| 123 |
| 3160 | &nbsp;&nbsp;&nbsp; FIVE Mortgage Trust <br>Series 2023-V1 Cl. A3 <br>5.668%—02/10/2056<sup>3</sup><br>| 3241 |
| 550 | &nbsp;&nbsp;&nbsp; GS Mortgage Securities Trust <br>Series 2016-GS3 Cl. A4 <br>2.850%—10/10/2049<br>| 545 |
| 85 | &nbsp;&nbsp;&nbsp; GS Mortgage-Backed Securities Corp. Trust <br>Series 2020-PJ4 Cl. A2 <br>3.000%—01/25/2051<sup>1,3</sup><br>| 75 |
|  | GS Mortgage-Backed Securities Trust |  |
| 6657 | &nbsp;&nbsp;&nbsp; Series 2025-PJ9 Cl. A6 <br>5.000%—03/25/2056<sup>1,3</sup><br>| 6667 |
| 3585 | &nbsp;&nbsp;&nbsp; Series 2025-PJ7 Cl. A5 <br>5.500%—12/25/2055<sup>1,3</sup><br>| 3601 |
|  |  | 10268 |
|  | JP Morgan Mortgage Trust |  |
| 2528 | &nbsp;&nbsp;&nbsp; Series 2025-2 Cl. A4A <br>5.500%—07/25/2055<sup>1,3</sup><br>| 2548 |
| 3296 | &nbsp;&nbsp;&nbsp; Series 2025-4 Cl. A4A <br>5.500%—11/25/2055<sup>1,3</sup><br>| 3329 |
| 923 | &nbsp;&nbsp;&nbsp; Series 2024-4 Cl. A4A <br>6.000%—10/25/2054<sup>1,3</sup><br>| 928 |
| 1225 | &nbsp;&nbsp;&nbsp; Series 2024-5 Cl. A4 <br>6.000%—11/25/2054<sup>1,3</sup><br>| 1238 |
|  |  | 8043 |
| 330 | &nbsp;&nbsp;&nbsp; Morgan Stanley Bank of America Merrill Lynch Trust <br>Series 2015-C22 Cl. A4 <br>3.306%—04/15/2048<br>| 326 |

---

------

⬤

------

**Harbor Core Bond Fund**

**PORTFOLIO OF INVESTMENTS—Continued**

------

*Principal Amount, Value and Cost in Thousands* 

---

| | | |
|:---|:---|:---|
| **Collateralized Mortgage Obligations—Continued** | **Collateralized Mortgage Obligations—Continued** | **Collateralized Mortgage Obligations—Continued** |
| **Principal**<br> **Amount**<br>|  | **Value** |
|  | Morgan Stanley Capital I Trust |  |
| $2564 | &nbsp;&nbsp;&nbsp; Series 2016-UB11 Cl. A4 <br>2.782%—08/15/2049<br>| $2541 |
| 5 | &nbsp;&nbsp;&nbsp; Series 2016-UBS9 Cl. A4 <br>3.594%—03/15/2049<br>| 6 |
|  |  | 2547 |
| 36 | &nbsp;&nbsp;&nbsp; PSMC Trust <br>Series 2020-2 Cl. A2 <br>3.000%—05/25/2050<sup>1,3</sup><br>| 32 |
|  | Sequoia Mortgage Trust |  |
| 6663 | &nbsp;&nbsp;&nbsp; Series 2026-INV1 Cl. A4 <br>5.000%—01/25/2056<sup>1,3</sup><br>| 6702 |
| 2498 | &nbsp;&nbsp;&nbsp; Series 2025-6 Cl. A11 <br>5.500%—07/25/2055<sup>1,3</sup><br>| 2511 |
| 1184 | &nbsp;&nbsp;&nbsp; Series 2024-5 Cl. A5 <br>6.000%—06/25/2054<sup>1,3</sup><br>| 1193 |
|  |  | 10406 |
| 332 | &nbsp;&nbsp;&nbsp; Tricon American Homes Trust <br>Series 2020-SFR1 Cl. A <br>1.499%—07/17/2038<sup>1</sup><br>| 327 |
| 302 | &nbsp;&nbsp;&nbsp; UBS Commercial Mortgage Trust <br>Series 2018-C13 Cl. ASB <br>4.241%—10/15/2051<br>| 302 |
|  | Wells Fargo Commercial Mortgage Trust |  |
| 2167 | &nbsp;&nbsp;&nbsp; Series 2021-C60 Cl. A4 <br>2.342%—08/15/2054<br>| 1938 |
| 4092 | &nbsp;&nbsp;&nbsp; Series 2018-C45 Cl. A4 <br>4.184%—06/15/2051<br>| 4089 |
|  |  | 6027 |
| 3300 | &nbsp;&nbsp;&nbsp; WHARF Commercial Mortgage Trust <br>Series 2025-DC Cl. A <br>5.528%—07/15/2040<sup>1,3</sup><br>| 3404 |
| &nbsp;&nbsp;&nbsp; **Total Collateralized Mortgage Obligations** <br>(Cost $129,318) | &nbsp;&nbsp;&nbsp; **Total Collateralized Mortgage Obligations** <br>(Cost $129,318) | 130588 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
| **Corporate Bonds & Notes—30.2%** | **Corporate Bonds & Notes—30.2%** | **Corporate Bonds & Notes—30.2%** |
| **AEROSPACE & DEFENSE—0.5%** | **AEROSPACE & DEFENSE—0.5%** | **AEROSPACE & DEFENSE—0.5%** |
| 5475 | &nbsp;&nbsp;&nbsp; BAE Systems PLC <br>3.400%—04/15/2030<sup>1</sup><br>| 5299 |
| 2100 | &nbsp;&nbsp;&nbsp; L3Harris Technologies, Inc. <br>5.500%—08/15/2054<br>| 2064 |
| 1558 | &nbsp;&nbsp;&nbsp; Northrop Grumman Corp. <br>5.250%—05/01/2050<br>| 1486 |
|  |  | 8849 |
| **AUTOMOBILES—1.6%** | **AUTOMOBILES—1.6%** | **AUTOMOBILES—1.6%** |
| 635 | &nbsp;&nbsp;&nbsp; BMW U.S. Capital LLC <br>3.450%—04/01/2027<sup>1</sup><br>| 632 |
| 2929 | &nbsp;&nbsp;&nbsp; Cummins, Inc. <br>5.300%—05/09/2035<br>| 3028 |
| 6100 | &nbsp;&nbsp;&nbsp; Daimler Truck Finance North America LLC <br>4.650%—10/12/2030<sup>1</sup><br>| 6148 |
|  | General Motors Financial Co., Inc. |  |
| 1157 | &nbsp;&nbsp;&nbsp; 2.400%—10/15/2028 | 1107 |
| 971 | &nbsp;&nbsp;&nbsp; 4.300%—04/06/2029 | 972 |
| 2750 | &nbsp;&nbsp;&nbsp; 5.750%—02/08/2031 | 2891 |
|  |  | 4970 |

---

---

| | | |
|:---|:---|:---|
| **Corporate Bonds & Notes—Continued** | **Corporate Bonds & Notes—Continued** | **Corporate Bonds & Notes—Continued** |
| **Principal**<br> **Amount**<br>|  | **Value** |
| **AUTOMOBILES—Continued** | **AUTOMOBILES—Continued** | **AUTOMOBILES—Continued** |
|  | Hyundai Capital America |  |
| $4231 | &nbsp;&nbsp;&nbsp; 4.550%—09/26/2029<sup>1</sup> | $4266 |
| 1203 | &nbsp;&nbsp;&nbsp; 5.300%—06/24/2029<sup>1</sup> | 1242 |
|  |  | 5508 |
|  | Volkswagen Group of America Finance LLC |  |
| 2795 | &nbsp;&nbsp;&nbsp; 4.600%—06/08/2029<sup>1</sup> | 2804 |
| 3338 | &nbsp;&nbsp;&nbsp; 4.750%—11/13/2028<sup>1</sup> | 3377 |
|  |  | 6181 |
|  |  | 26467 |
| **BANKS—4.4%** | **BANKS—4.4%** | **BANKS—4.4%** |
|  | Bank of America Corp. |  |
| 8962 | &nbsp;&nbsp;&nbsp; 2.572%—10/20/2032<sup>4</sup> | 8088 |
| 2322 | &nbsp;&nbsp;&nbsp; 3.311%—04/22/2042<sup>4</sup> | 1819 |
|  |  | 9907 |
|  | Barclays PLC |  |
| 2100 | &nbsp;&nbsp;&nbsp; 5.690%—03/12/2030<sup>4</sup> | 2187 |
| 2335 | &nbsp;&nbsp;&nbsp; 6.490%—09/13/2029<sup>4</sup> | 2467 |
|  |  | 4654 |
| 6563 | &nbsp;&nbsp;&nbsp; BNP Paribas SA <br>4.400%—08/14/2028<sup>1</sup><br>| 6596 |
|  | Citigroup, Inc. |  |
| 2359 | &nbsp;&nbsp;&nbsp; 3.520%—10/27/2028<sup>4</sup> | 2340 |
| 3329 | &nbsp;&nbsp;&nbsp; 4.412%—03/31/2031<sup>4</sup> | 3329 |
| 3874 | &nbsp;&nbsp;&nbsp; 4.542%—09/19/2030<sup>4</sup> | 3907 |
|  |  | 9576 |
| 8509 | &nbsp;&nbsp;&nbsp; HSBC Holdings PLC <br>5.130%—03/03/2031<sup>4</sup><br>| 8723 |
|  | ING Groep NV |  |
| 2460 | &nbsp;&nbsp;&nbsp; 5.335%—03/19/2030<sup>4</sup> | 2540 |
| 3000 | &nbsp;&nbsp;&nbsp; 6.114%—09/11/2034<sup>4</sup> | 3238 |
|  |  | 5778 |
|  | JPMorgan Chase & Co. |  |
| 6340 | &nbsp;&nbsp;&nbsp; 4.203%—07/23/2029<sup>4</sup> | 6366 |
| 250 | &nbsp;&nbsp;&nbsp; 4.493%—03/24/2031<sup>4</sup> | 252 |
| 3130 | &nbsp;&nbsp;&nbsp; 5.336%—01/23/2035<sup>4</sup> | 3225 |
|  |  | 9843 |
| 1145 | &nbsp;&nbsp;&nbsp; Lloyds Banking Group PLC <br>5.679%—01/05/2035<sup>4</sup><br>| 1200 |
| 418 | &nbsp;&nbsp;&nbsp; National Securities Clearing Corp. <br>5.000%—05/30/2028<sup>1</sup><br>| 428 |
| 3899 | &nbsp;&nbsp;&nbsp; Truist Financial Corp. <br>4.597%—01/27/2032<sup>4</sup><br>| 3910 |
| 5216 | &nbsp;&nbsp;&nbsp; Truist Financial Corp. MTN <br>5.711%—01/24/2035<sup>4</sup><br>| 5465 |
|  | U.S. Bancorp |  |
| 3315 | &nbsp;&nbsp;&nbsp; 4.839%—02/01/2034<sup>4</sup> | 3329 |
| 1544 | &nbsp;&nbsp;&nbsp; 5.678%—01/23/2035<sup>4</sup> | 1620 |
|  |  | 4949 |
|  |  | 71029 |
| **BUILDING PRODUCTS—0.2%** | **BUILDING PRODUCTS—0.2%** | **BUILDING PRODUCTS—0.2%** |
| 2908 | &nbsp;&nbsp;&nbsp; Carlisle Cos., Inc. <br>5.550%—09/15/2040<br>| 2956 |

---

------

⬤

------

**Harbor Core Bond Fund**

**PORTFOLIO OF INVESTMENTS—Continued**

------

*Principal Amount, Value and Cost in Thousands* 

---

| | | |
|:---|:---|:---|
| **Corporate Bonds & Notes—Continued** | **Corporate Bonds & Notes—Continued** | **Corporate Bonds & Notes—Continued** |
| **Principal**<br> **Amount**<br>|  | **Value** |
| **CAPITAL MARKETS—3.6%** | **CAPITAL MARKETS—3.6%** | **CAPITAL MARKETS—3.6%** |
| $300 | &nbsp;&nbsp;&nbsp; Bank of New York Mellon Corp. MTN <br>5.802%—10/25/2028<sup>4</sup><br>| $310 |
|  | Blackstone Holdings Finance Co. LLC |  |
| 495 | &nbsp;&nbsp;&nbsp; 2.550%—03/30/2032<sup>1</sup> | 439 |
| 173 | &nbsp;&nbsp;&nbsp; 2.800%—09/30/2050<sup>1</sup> | 107 |
| 856 | &nbsp;&nbsp;&nbsp; 3.500%—09/10/2049<sup>1</sup> | 613 |
| 2515 | &nbsp;&nbsp;&nbsp; 6.200%—04/22/2033<sup>1</sup> | 2715 |
|  |  | 3874 |
| 5784 | &nbsp;&nbsp;&nbsp; Blackstone Reg Finance Co. LLC <br>5.000%—12/06/2034<br>| 5785 |
|  | Brookfield Finance, Inc. |  |
| 326 | &nbsp;&nbsp;&nbsp; 2.724%—04/15/2031 | 300 |
| 1490 | &nbsp;&nbsp;&nbsp; 3.900%—01/25/2028 | 1488 |
|  |  | 1788 |
|  | Goldman Sachs Group, Inc. |  |
| 5176 | &nbsp;&nbsp;&nbsp; 3.800%—03/15/2030 | 5100 |
| 2729 | &nbsp;&nbsp;&nbsp; 5.218%—04/23/2031<sup>4</sup> | 2812 |
|  |  | 7912 |
| 4320 | &nbsp;&nbsp;&nbsp; Golub Capital BDC, Inc. <br>7.050%—12/05/2028<br>| 4548 |
| 6183 | &nbsp;&nbsp;&nbsp; KKR & Co., Inc. <br>5.100%—08/07/2035<br>| 6125 |
| 54 | &nbsp;&nbsp;&nbsp; KKR Group Finance Co. II LLC <br>5.500%—02/01/2043<sup>1</sup><br>| 53 |
| 170 | &nbsp;&nbsp;&nbsp; KKR Group Finance Co. III LLC <br>5.125%—06/01/2044<sup>1</sup><br>| 158 |
| 3640 | &nbsp;&nbsp;&nbsp; KKR Group Finance Co. VI LLC <br>3.750%—07/01/2029<sup>1</sup><br>| 3575 |
|  | Macquarie Group Ltd. |  |
| 2861 | &nbsp;&nbsp;&nbsp; 5.033%—01/15/2030<sup>1,4</sup> | 2918 |
| 1695 | &nbsp;&nbsp;&nbsp; 6.255%—12/07/2034<sup>1,4</sup> | 1842 |
|  |  | 4760 |
|  | Morgan Stanley |  |
| 3710 | &nbsp;&nbsp;&nbsp; 2.943%—01/21/2033<sup>4</sup> | 3382 |
| 6213 | &nbsp;&nbsp;&nbsp; 5.073%—01/30/2037<sup>4</sup> | 6191 |
|  |  | 9573 |
| 6666 | &nbsp;&nbsp;&nbsp; Morgan Stanley MTN <br>3.622%—04/01/2031<sup>4</sup><br>| 6474 |
| 3698 | &nbsp;&nbsp;&nbsp; UBS Group AG <br>4.844%—11/06/2033<sup>1,4</sup><br>| 3701 |
|  |  | 58636 |
| **COMMERCIAL SERVICES & SUPPLIES—1.0%** | **COMMERCIAL SERVICES & SUPPLIES—1.0%** | **COMMERCIAL SERVICES & SUPPLIES—1.0%** |
| 3438 | &nbsp;&nbsp;&nbsp; Ashtead Capital, Inc. <br>5.800%—04/15/2034<sup>1</sup><br>| 3606 |
| 300 | &nbsp;&nbsp;&nbsp; Moody's Corp. <br>3.250%—05/20/2050<br>| 203 |
| 5540 | &nbsp;&nbsp;&nbsp; Rentokil Terminix Funding LLC <br>5.000%—04/28/2030<sup>1</sup><br>| 5645 |
| 7316 | &nbsp;&nbsp;&nbsp; Triton Container International Ltd./TAL International <br> Container Corp. <br>5.150%—02/15/2033<br>| 7287 |
|  |  | 16741 |
| **COMMUNICATIONS EQUIPMENT—0.1%** | **COMMUNICATIONS EQUIPMENT—0.1%** | **COMMUNICATIONS EQUIPMENT—0.1%** |
| 1914 | &nbsp;&nbsp;&nbsp; Sprint Spectrum Co. LLC/Sprint Spectrum Co. II <br> LLC/Sprint Spectrum Co. III LLC <br>5.152%—09/20/2029<sup>1</sup><br>| 1929 |

---

---

| | | |
|:---|:---|:---|
| **Corporate Bonds & Notes—Continued** | **Corporate Bonds & Notes—Continued** | **Corporate Bonds & Notes—Continued** |
| **Principal**<br> **Amount**<br>|  | **Value** |
| **CONTAINERS & PACKAGING—0.2%** | **CONTAINERS & PACKAGING—0.2%** | **CONTAINERS & PACKAGING—0.2%** |
| $3807 | &nbsp;&nbsp;&nbsp; Sonoco Products Co. <br>5.000%—09/01/2034<br>| $3783 |
| **DIVERSIFIED FINANCIAL SERVICES—2.2%** | **DIVERSIFIED FINANCIAL SERVICES—2.2%** | **DIVERSIFIED FINANCIAL SERVICES—2.2%** |
|  | &nbsp;&nbsp;&nbsp; AerCap Ireland Capital DAC/AerCap Global Aviation <br> Trust<br>|  |
| 906 | &nbsp;&nbsp;&nbsp; 3.000%—10/29/2028 | 879 |
| 1662 | &nbsp;&nbsp;&nbsp; 5.100%—01/19/2029 | 1701 |
| 6300 | &nbsp;&nbsp;&nbsp; 6.450%—04/15/2027 | 6466 |
|  |  | 9046 |
| 4887 | &nbsp;&nbsp;&nbsp; Atlas Warehouse Lending Co. LP <br>4.625%—11/15/2028<sup>1</sup><br>| 4910 |
|  | Aviation Capital Group LLC |  |
| 4948 | &nbsp;&nbsp;&nbsp; 4.800%—10/24/2030<sup>1</sup> | 4962 |
| 2235 | &nbsp;&nbsp;&nbsp; 6.375%—07/15/2030<sup>1</sup> | 2388 |
|  |  | 7350 |
| 7384 | &nbsp;&nbsp;&nbsp; Brookfield Asset Management Ltd. <br>4.653%—11/15/2030<br>| 7452 |
| 1921 | &nbsp;&nbsp;&nbsp; Brookfield Finance I U.K. PLC/Brookfield Finance, <br> Inc. <br>2.340%—01/30/2032<br>| 1685 |
|  | Capital One Financial Corp. |  |
| 435 | &nbsp;&nbsp;&nbsp; 4.927%—05/10/2028<sup>4</sup> | 440 |
| 813 | &nbsp;&nbsp;&nbsp; 5.468%—02/01/2029<sup>4</sup> | 833 |
| 4397 | &nbsp;&nbsp;&nbsp; 6.051%—02/01/2035<sup>4</sup> | 4620 |
|  |  | 5893 |
|  |  | 36336 |
| **DIVERSIFIED REITS—0.6%** | **DIVERSIFIED REITS—0.6%** | **DIVERSIFIED REITS—0.6%** |
| 514 | &nbsp;&nbsp;&nbsp; American Tower Trust I <br>5.490%—03/15/2053<sup>1</sup><br>| 523 |
|  | SBA Tower Trust |  |
| 500 | &nbsp;&nbsp;&nbsp; 1.631%—05/15/2051<sup>1</sup> | 491 |
| 705 | &nbsp;&nbsp;&nbsp; 2.593%—10/15/2056<sup>1</sup> | 633 |
| 6531 | &nbsp;&nbsp;&nbsp; 4.831%—10/15/2029<sup>1</sup> | 6565 |
| 1578 | &nbsp;&nbsp;&nbsp; 6.599%—11/15/2052<sup>1</sup> | 1614 |
|  |  | 9303 |
|  |  | 9826 |
| **DIVERSIFIED TELECOMMUNICATION SERVICES—0.8%** | **DIVERSIFIED TELECOMMUNICATION SERVICES—0.8%** | **DIVERSIFIED TELECOMMUNICATION SERVICES—0.8%** |
|  | AT&T, Inc. |  |
| 1302 | &nbsp;&nbsp;&nbsp; 3.650%—09/15/2059 | 860 |
| 7136 | &nbsp;&nbsp;&nbsp; 4.750%—04/30/2033 | 7126 |
|  |  | 7986 |
|  | Verizon Communications, Inc. |  |
| 5240 | &nbsp;&nbsp;&nbsp; 2.355%—03/15/2032 | 4621 |
| 162 | &nbsp;&nbsp;&nbsp; 4.500%—08/10/2033 | 159 |
|  |  | 4780 |
|  |  | 12766 |
| **ELECTRIC UTILITIES—3.0%** | **ELECTRIC UTILITIES—3.0%** | **ELECTRIC UTILITIES—3.0%** |
|  | Berkshire Hathaway Energy Co. |  |
| 7190 | &nbsp;&nbsp;&nbsp; 4.450%—01/15/2049 | 5992 |
| 275 | &nbsp;&nbsp;&nbsp; 6.125%—04/01/2036 | 298 |
|  |  | 6290 |
| 2730 | &nbsp;&nbsp;&nbsp; Consumers Securitization Funding LLC <br>5.210%—09/01/2031<br>| 2815 |

---

------

⬤

------

**Harbor Core Bond Fund**

**PORTFOLIO OF INVESTMENTS—Continued**

------

*Principal Amount, Value and Cost in Thousands* 

---

| | | |
|:---|:---|:---|
| **Corporate Bonds & Notes—Continued** | **Corporate Bonds & Notes—Continued** | **Corporate Bonds & Notes—Continued** |
| **Principal**<br> **Amount**<br>|  | **Value** |
| **ELECTRIC UTILITIES—Continued** | **ELECTRIC UTILITIES—Continued** | **ELECTRIC UTILITIES—Continued** |
|  | Dominion Energy, Inc. |  |
| $785 | &nbsp;&nbsp;&nbsp; 3.375%—04/01/2030 | $758 |
| 1150 | &nbsp;&nbsp;&nbsp; 5.250%—08/01/2033 | 1176 |
|  |  | 1934 |
|  | DTE Energy Co. |  |
| 2306 | &nbsp;&nbsp;&nbsp; 4.875%—06/01/2028 | 2346 |
| 2769 | &nbsp;&nbsp;&nbsp; 5.850%—06/01/2034 | 2946 |
|  |  | 5292 |
| 2785 | &nbsp;&nbsp;&nbsp; Duke Energy Florida LLC <br>3.800%—07/15/2028<br>| 2786 |
|  | Eversource Energy |  |
| 1080 | &nbsp;&nbsp;&nbsp; 2.900%—03/01/2027 | 1067 |
| 5295 | &nbsp;&nbsp;&nbsp; 5.450%—03/01/2028 | 5436 |
|  |  | 6503 |
|  | Exelon Corp. |  |
| 5615 | &nbsp;&nbsp;&nbsp; 4.450%—04/15/2046 | 4723 |
| 62 | &nbsp;&nbsp;&nbsp; 4.700%—04/15/2050 | 53 |
| 243 | &nbsp;&nbsp;&nbsp; 5.100%—06/15/2045 | 224 |
|  |  | 5000 |
| 1670 | &nbsp;&nbsp;&nbsp; Florida Power & Light Co. <br>2.450%—02/03/2032<br>| 1506 |
| 5857 | &nbsp;&nbsp;&nbsp; Niagara Mohawk Power Corp. <br>5.996%—07/03/2055<sup>1</sup><br>| 5908 |
|  | Northern States Power Co. |  |
| 158 | &nbsp;&nbsp;&nbsp; 4.500%—06/01/2052 | 135 |
| 4085 | &nbsp;&nbsp;&nbsp; 6.250%—06/01/2036 | 4502 |
|  |  | 4637 |
| 308 | &nbsp;&nbsp;&nbsp; Southern Co. <br>4.250%—07/01/2036<br>| 288 |
| 5397 | &nbsp;&nbsp;&nbsp; Virginia Power Fuel Securitization LLC <br>4.877%—05/01/2033<br>| 5524 |
|  |  | 48483 |
| **ELECTRONIC EQUIPMENT, INSTRUMENTS & COMPONENTS—0.3%** | **ELECTRONIC EQUIPMENT, INSTRUMENTS & COMPONENTS—0.3%** | **ELECTRONIC EQUIPMENT, INSTRUMENTS & COMPONENTS—0.3%** |
| 4397 | &nbsp;&nbsp;&nbsp; Amphenol Corp. <br>5.300%—11/15/2055<br>| 4197 |
| **EQUITY REAL ESTATE INVESTMENT TRUSTS (REITS)—0.3%** | **EQUITY REAL ESTATE INVESTMENT TRUSTS (REITS)—0.3%** | **EQUITY REAL ESTATE INVESTMENT TRUSTS (REITS)—0.3%** |
| 1879 | &nbsp;&nbsp;&nbsp; Agree LP <br>4.800%—10/01/2032<br>| 1895 |
| 2645 | &nbsp;&nbsp;&nbsp; Simon Property Group LP <br>5.500%—03/08/2033<br>| 2778 |
|  |  | 4673 |
| **FINANCIAL SERVICES—0.7%** | **FINANCIAL SERVICES—0.7%** | **FINANCIAL SERVICES—0.7%** |
|  | American Express Co. |  |
| 4168 | &nbsp;&nbsp;&nbsp; 5.016%—04/25/2031<sup>4</sup> | 4279 |
| 322 | &nbsp;&nbsp;&nbsp; 5.043%—05/01/2034<sup>4</sup> | 328 |
|  |  | 4607 |
| 198 | &nbsp;&nbsp;&nbsp; Berkshire Hathaway Finance Corp. <br>3.850%—03/15/2052<br>| 151 |
|  | PNC Financial Services Group, Inc. |  |
| 1160 | &nbsp;&nbsp;&nbsp; 5.068%—01/24/2034<sup>4</sup> | 1183 |
| 2571 | &nbsp;&nbsp;&nbsp; 5.354%—12/02/2028<sup>4</sup> | 2636 |

---

---

| | | |
|:---|:---|:---|
| **Corporate Bonds & Notes—Continued** | **Corporate Bonds & Notes—Continued** | **Corporate Bonds & Notes—Continued** |
| **Principal**<br> **Amount**<br>|  | **Value** |
| **FINANCIAL SERVICES—Continued** | **FINANCIAL SERVICES—Continued** | **FINANCIAL SERVICES—Continued** |
| $3095 | &nbsp;&nbsp;&nbsp; 5.676%—01/22/2035<sup>4</sup> | $3248 |
| 163 | &nbsp;&nbsp;&nbsp; 6.875%—10/20/2034<sup>4</sup> | 183 |
|  |  | 7250 |
|  |  | 12008 |
| **HEALTH CARE PROVIDERS & SERVICES—0.6%** | **HEALTH CARE PROVIDERS & SERVICES—0.6%** | **HEALTH CARE PROVIDERS & SERVICES—0.6%** |
| 853 | &nbsp;&nbsp;&nbsp; Cigna Group <br>3.400%—03/01/2027<br>| 849 |
|  | CVS Pass-Through Trust |  |
| 133 | &nbsp;&nbsp;&nbsp; 5.773%—01/10/2033<sup>1</sup> | 136 |
| 38 | &nbsp;&nbsp;&nbsp; 5.880%—01/10/2028 | 38 |
| 676 | &nbsp;&nbsp;&nbsp; 8.353%—07/10/2031<sup>1</sup> | 731 |
|  |  | 905 |
| 425 | &nbsp;&nbsp;&nbsp; Elevance Health, Inc. <br>4.750%—02/15/2033<br>| 425 |
|  | &nbsp;&nbsp;&nbsp; Health Care Service Corp. A Mutual Legal Reserve <br> Co.<br>|  |
| 2700 | &nbsp;&nbsp;&nbsp; 2.200%—06/01/2030<sup>1</sup> | 2455 |
| 4642 | &nbsp;&nbsp;&nbsp; 5.200%—06/15/2029<sup>1</sup> | 4763 |
|  |  | 7218 |
|  |  | 9397 |
| **INDUSTRIAL CONGLOMERATES—0.2%** | **INDUSTRIAL CONGLOMERATES—0.2%** | **INDUSTRIAL CONGLOMERATES—0.2%** |
| 2631 | &nbsp;&nbsp;&nbsp; Ashtead Capital, Inc. <br>5.500%—08/11/2032<sup>1</sup><br>| 2728 |
| **INSURANCE—2.2%** | **INSURANCE—2.2%** | **INSURANCE—2.2%** |
|  | AIA Group Ltd. |  |
| 419 | &nbsp;&nbsp;&nbsp; 3.600%—04/09/2029<sup>1</sup> | 414 |
| 3680 | &nbsp;&nbsp;&nbsp; 5.375%—04/05/2034<sup>1</sup> | 3800 |
|  |  | 4214 |
| 4555 | &nbsp;&nbsp;&nbsp; Brown & Brown, Inc. <br>5.250%—06/23/2032<br>| 4648 |
| 6550 | &nbsp;&nbsp;&nbsp; Corebridge Global Funding <br>5.200%—01/12/2029<sup>1</sup><br>| 6730 |
|  | GA Global Funding Trust |  |
| 2490 | &nbsp;&nbsp;&nbsp; 5.200%—12/09/2031<sup>1</sup> | 2522 |
| 5786 | &nbsp;&nbsp;&nbsp; 5.500%—01/08/2029-04/01/2032<sup>1</sup> | 5936 |
|  |  | 8458 |
| 530 | &nbsp;&nbsp;&nbsp; Liberty Mutual Group, Inc. <br>4.569%—02/01/2029<sup>1</sup><br>| 533 |
|  | Massachusetts Mutual Life Insurance Co. |  |
| 1143 | &nbsp;&nbsp;&nbsp; 3.375%—04/15/2050<sup>1</sup> | 782 |
| 160 | &nbsp;&nbsp;&nbsp; 5.672%—12/01/2052<sup>1</sup> | 155 |
|  |  | 937 |
|  | Metropolitan Life Global Funding I |  |
| 2827 | &nbsp;&nbsp;&nbsp; 3.300%—03/21/2029<sup>1</sup> | 2760 |
| 3495 | &nbsp;&nbsp;&nbsp; 4.850%—01/08/2029<sup>1</sup> | 3569 |
|  |  | 6329 |
| 3605 | &nbsp;&nbsp;&nbsp; Peachtree Corners Funding Trust II <br>6.012%—05/15/2035<sup>1</sup><br>| 3797 |
|  |  | 35646 |
| **INTERACTIVE MEDIA & SERVICES—0.2%** | **INTERACTIVE MEDIA & SERVICES—0.2%** | **INTERACTIVE MEDIA & SERVICES—0.2%** |
| 3060 | &nbsp;&nbsp;&nbsp; Meta Platforms, Inc. <br>4.600%—11/15/2032<br>| 3069 |

---

------

⬤

------

**Harbor Core Bond Fund**

**PORTFOLIO OF INVESTMENTS—Continued**

------

*Principal Amount, Value and Cost in Thousands* 

---

| | | |
|:---|:---|:---|
| **Corporate Bonds & Notes—Continued** | **Corporate Bonds & Notes—Continued** | **Corporate Bonds & Notes—Continued** |
| **Principal**<br> **Amount**<br>|  | **Value** |
| **INTERNET & CATALOG RETAIL—0.1%** | **INTERNET & CATALOG RETAIL—0.1%** | **INTERNET & CATALOG RETAIL—0.1%** |
| $2423 | &nbsp;&nbsp;&nbsp; Amazon.com, Inc. <br>4.100%—04/13/2062<br>| $1850 |
| **IT SERVICES—0.2%** | **IT SERVICES—0.2%** | **IT SERVICES—0.2%** |
| 2466 | &nbsp;&nbsp;&nbsp; Genpact Luxembourg SARL/Genpact USA, Inc. <br>6.000%—06/04/2029<br>| 2587 |
| **MACHINERY—0.4%** | **MACHINERY—0.4%** | **MACHINERY—0.4%** |
| 6004 | &nbsp;&nbsp;&nbsp; Nordson Corp. <br>4.500%—12/15/2029<br>| 6053 |
| **MEDIA—0.4%** | **MEDIA—0.4%** | **MEDIA—0.4%** |
| 1883 | &nbsp;&nbsp;&nbsp; Charter Communications Operating LLC/Charter <br> Communications Operating Capital <br>6.384%—10/23/2035<br>| 1947 |
| 360 | &nbsp;&nbsp;&nbsp; Comcast Corp. <br>2.350%—01/15/2027<br>| 355 |
|  | Cox Communications, Inc. |  |
| 400 | &nbsp;&nbsp;&nbsp; 1.800%—10/01/2030<sup>1</sup> | 351 |
| 3795 | &nbsp;&nbsp;&nbsp; 5.700%—06/15/2033<sup>1</sup> | 3831 |
|  |  | 4182 |
|  |  | 6484 |
| **MULTI-UTILITIES—0.0%** | **MULTI-UTILITIES—0.0%** | **MULTI-UTILITIES—0.0%** |
|  | PG&E Wildfire Recovery Funding LLC |  |
| 354 | &nbsp;&nbsp;&nbsp; 3.594%—06/01/2032 | 349 |
| 222 | &nbsp;&nbsp;&nbsp; 4.022%—06/01/2033 | 222 |
| 183 | &nbsp;&nbsp;&nbsp; 4.722%—06/01/2039 | 180 |
|  |  | 751 |
| **OIL, GAS & CONSUMABLE FUELS—1.7%** | **OIL, GAS & CONSUMABLE FUELS—1.7%** | **OIL, GAS & CONSUMABLE FUELS—1.7%** |
| 7835 | &nbsp;&nbsp;&nbsp; Columbia Pipelines Operating Co. LLC <br>6.036%—11/15/2033<sup>1</sup><br>| 8368 |
|  | ConocoPhillips Co. |  |
| 878 | &nbsp;&nbsp;&nbsp; 5.500%—01/15/2055 | 846 |
| 961 | &nbsp;&nbsp;&nbsp; 5.550%—03/15/2054 | 933 |
|  |  | 1779 |
|  | Diamondback Energy, Inc. |  |
| 2346 | &nbsp;&nbsp;&nbsp; 5.550%—04/01/2035 | 2416 |
| 1543 | &nbsp;&nbsp;&nbsp; 6.250%—03/15/2033 | 1666 |
|  |  | 4082 |
|  | Energy Transfer LP |  |
| 1450 | &nbsp;&nbsp;&nbsp; 5.550%—05/15/2034 | 1493 |
| 2688 | &nbsp;&nbsp;&nbsp; 5.750%—02/15/2033 | 2820 |
|  |  | 4313 |
| 1259 | &nbsp;&nbsp;&nbsp; Kinder Morgan, Inc. <br>5.850%—06/01/2035<br>| 1333 |
| 1787 | &nbsp;&nbsp;&nbsp; Northern Natural Gas Co. <br>5.625%—02/01/2054<sup>1</sup><br>| 1720 |
| 474 | &nbsp;&nbsp;&nbsp; Occidental Petroleum Corp. <br>0.000%—10/10/2036<sup>5</sup><br>| 286 |
|  | Southern Co. Gas Capital Corp. |  |
| 230 | &nbsp;&nbsp;&nbsp; 1.750%—01/15/2031 | 203 |
| 4779 | &nbsp;&nbsp;&nbsp; 4.950%—09/15/2034 | 4788 |
|  |  | 4991 |
|  |  | 26872 |
| **PASSENGER AIRLINES—0.1%** | **PASSENGER AIRLINES—0.1%** | **PASSENGER AIRLINES—0.1%** |
| 210 | &nbsp;&nbsp;&nbsp; Air Canada Pass-Through Trust <br>3.600%—09/15/2028<sup>1</sup><br>| 208 |

---

---

| | | |
|:---|:---|:---|
| **Corporate Bonds & Notes—Continued** | **Corporate Bonds & Notes—Continued** | **Corporate Bonds & Notes—Continued** |
| **Principal**<br> **Amount**<br>|  | **Value** |
| **PASSENGER AIRLINES—Continued** | **PASSENGER AIRLINES—Continued** | **PASSENGER AIRLINES—Continued** |
| $266 | &nbsp;&nbsp;&nbsp; Delta Air Lines Pass-Through Trust <br>3.625%—01/30/2029<br>| $263 |
|  | United Airlines Pass-Through Trust |  |
| 163 | &nbsp;&nbsp;&nbsp; 3.100%—01/07/2030 | 160 |
| 628 | &nbsp;&nbsp;&nbsp; 4.000%—10/11/2027 | 628 |
|  |  | 788 |
|  |  | 1259 |
| **PROFESSIONAL SERVICES—0.4%** | **PROFESSIONAL SERVICES—0.4%** | **PROFESSIONAL SERVICES—0.4%** |
|  | Verisk Analytics, Inc. |  |
| 741 | &nbsp;&nbsp;&nbsp; 3.625%—05/15/2050 | 535 |
| 4100 | &nbsp;&nbsp;&nbsp; 5.250%—06/05/2034 | 4190 |
| 1100 | &nbsp;&nbsp;&nbsp; 5.750%—04/01/2033 | 1163 |
|  |  | 5888 |
| **REAL ESTATE MANAGEMENT & DEVELOPMENT—0.1%** | **REAL ESTATE MANAGEMENT & DEVELOPMENT—0.1%** | **REAL ESTATE MANAGEMENT & DEVELOPMENT—0.1%** |
| 808 | &nbsp;&nbsp;&nbsp; CBRE Services, Inc. <br>4.800%—06/15/2030<br>| 820 |
| **ROAD & RAIL—0.5%** | **ROAD & RAIL—0.5%** | **ROAD & RAIL—0.5%** |
|  | Canadian Pacific Railway Co. |  |
| 1429 | &nbsp;&nbsp;&nbsp; 4.200%—11/15/2069 | 1067 |
| 190 | &nbsp;&nbsp;&nbsp; 6.125%—09/15/2115 | 193 |
|  |  | 1260 |
| 2430 | &nbsp;&nbsp;&nbsp; JB Hunt Transport Services, Inc. <br>4.900%—03/15/2030<br>| 2486 |
| 155 | &nbsp;&nbsp;&nbsp; Norfolk Southern Corp. <br>4.837%—10/01/2041<br>| 146 |
| 4716 | &nbsp;&nbsp;&nbsp; Ryder System, Inc. MTN <br>5.250%—06/01/2028<br>| 4848 |
|  |  | 8740 |
| **SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT—0.7%** | **SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT—0.7%** | **SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT—0.7%** |
| 3574 | &nbsp;&nbsp;&nbsp; Broadcom, Inc. <br>4.000%—04/15/2029<sup>1</sup><br>| 3565 |
|  | NXP BV/NXP Funding LLC/NXP USA, Inc. |  |
| 4140 | &nbsp;&nbsp;&nbsp; 2.500%—05/11/2031 | 3747 |
| 1230 | &nbsp;&nbsp;&nbsp; 3.150%—05/01/2027 | 1217 |
| 3185 | &nbsp;&nbsp;&nbsp; 4.300%—06/18/2029 | 3196 |
|  |  | 8160 |
|  |  | 11725 |
| **SOFTWARE—0.9%** | **SOFTWARE—0.9%** | **SOFTWARE—0.9%** |
| 4534 | &nbsp;&nbsp;&nbsp; AppLovin Corp. <br>5.125%—12/01/2029<br>| 4652 |
| 1199 | &nbsp;&nbsp;&nbsp; Constellation Software, Inc. <br>5.461%—02/16/2034<sup>1</sup><br>| 1206 |
|  | Oracle Corp. |  |
| 2681 | &nbsp;&nbsp;&nbsp; 3.950%—03/25/2051 | 1760 |
| 3700 | &nbsp;&nbsp;&nbsp; 4.800%—09/26/2032 | 3583 |
| 3317 | &nbsp;&nbsp;&nbsp; 5.250%—02/03/2032 | 3314 |
|  |  | 8657 |
|  |  | 14515 |
| **SPECIALTY RETAIL—0.8%** | **SPECIALTY RETAIL—0.8%** | **SPECIALTY RETAIL—0.8%** |
|  | Lowe's Cos., Inc. |  |
| 3997 | &nbsp;&nbsp;&nbsp; 3.000%—10/15/2050 | 2564 |
| 77 | &nbsp;&nbsp;&nbsp; 3.700%—04/15/2046 | 59 |

---

------

⬤

------

**Harbor Core Bond Fund**

**PORTFOLIO OF INVESTMENTS—Continued**

------

*Principal Amount, Value and Cost in Thousands* 

---

| | | |
|:---|:---|:---|
| **Corporate Bonds & Notes—Continued** | **Corporate Bonds & Notes—Continued** | **Corporate Bonds & Notes—Continued** |
| **Principal**<br> **Amount**<br>|  | **Value** |
| **SPECIALTY RETAIL—Continued** | **SPECIALTY RETAIL—Continued** | **SPECIALTY RETAIL—Continued** |
| $199 | &nbsp;&nbsp;&nbsp; 5.000%—04/15/2040 | $193 |
| 697 | &nbsp;&nbsp;&nbsp; 5.625%—04/15/2053 | 679 |
|  |  | 3495 |
| 9192 | &nbsp;&nbsp;&nbsp; Penske Truck Leasing Co. LP/PTL Finance Corp. <br>5.550%—05/01/2028<sup>1</sup><br>| 9450 |
|  |  | 12945 |
| **TRADING COMPANIES & DISTRIBUTORS—0.6%** | **TRADING COMPANIES & DISTRIBUTORS—0.6%** | **TRADING COMPANIES & DISTRIBUTORS—0.6%** |
|  | Ferguson Finance PLC |  |
| 4590 | &nbsp;&nbsp;&nbsp; 3.250%—06/02/2030<sup>1</sup> | 4382 |
| 4751 | &nbsp;&nbsp;&nbsp; 4.650%—04/20/2032<sup>1</sup> | 4736 |
|  |  | 9118 |
| **WIRELESS TELECOMMUNICATION SERVICES—0.6%** | **WIRELESS TELECOMMUNICATION SERVICES—0.6%** | **WIRELESS TELECOMMUNICATION SERVICES—0.6%** |
|  | T-Mobile USA, Inc. |  |
| 3131 | &nbsp;&nbsp;&nbsp; 5.050%—07/15/2033 | 3182 |
| 3238 | &nbsp;&nbsp;&nbsp; 5.150%—04/15/2034 | 3294 |
| 2745 | &nbsp;&nbsp;&nbsp; 5.875%—11/15/2055 | 2729 |
|  |  | 9205 |
| &nbsp;&nbsp;&nbsp; **Total Corporate Bonds & Notes** <br>(Cost $480,175) | &nbsp;&nbsp;&nbsp; **Total Corporate Bonds & Notes** <br>(Cost $480,175) | 488331 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
| **Mortgage Pass-Through—23.7%** | **Mortgage Pass-Through—23.7%** | **Mortgage Pass-Through—23.7%** |
|  | Federal Home Loan Mortgage Corp. |  |
| 7404 | &nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>2.000%—06/01/2050-01/01/2051 | 6074 |
| 55367 | &nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>2.500%—08/01/2035-01/01/2054 | 48472 |
| 23105 | &nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>3.000%—01/01/2033-08/01/2050 | 21163 |
| 15099 | &nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>3.500%—09/01/2033-04/01/2050 | 14433 |
| 19393 | &nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>4.000%—12/01/2037-07/01/2049 | 18890 |
| 22286 | &nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>4.500%—10/01/2048-05/01/2053 | 22191 |
| 13527 | &nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>5.000%—11/01/2049-01/01/2055 | 13702 |
| 22379 | &nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>5.500%—12/01/2052-03/01/2054 | 23073 |
| 71 | &nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>6.329% (USD IBOR Consumer Cash Fallback <br> 12-month + 1.592%) 06/01/2047<sup>3</sup><br>| 74 |
|  |  | 168072 |
|  | Federal National Mortgage Association |  |
| 17540 | &nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>2.000%—08/01/2050-02/01/2052 | 14423 |
| 46808 | &nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>2.500%—01/01/2032-04/01/2052 | 40997 |
| 17759 | &nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>3.000%—02/01/2034-12/01/2051 | 16636 |
| 16835 | &nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>3.500%—05/01/2035-05/01/2052 | 15949 |
| 24583 | &nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>4.000%—03/01/2038-02/01/2055 | 23777 |
| 20494 | &nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>4.500%—05/01/2046-08/01/2052 | 20366 |
| 30593 | &nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>5.000%—05/01/2050-11/01/2054 | 31067 |
| 4409 | &nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>5.500%—11/01/2052-08/01/2053 | 4549 |
| 92 | &nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>6.345% (Fed 12 Month Treasury Average Constant <br> Maturity Treasury + 2.320%) 12/01/2036<sup>3</sup><br>| 96 |
|  |  | 167860 |
| 1171 | &nbsp;&nbsp;&nbsp; Federal National Mortgage Association REMICS <br>Series 2024-20 Cl. CA <br>5.500%—01/25/2047<br>| 1174 |
|  | Government National Mortgage Association |  |
| 7226 | &nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>2.000%—02/20/2052 | 6019 |
| 17158 | &nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>2.500%—01/20/2051-09/20/2051 | 14879 |
| 6930 | &nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>4.000%—09/20/2041-08/20/2052 | 6617 |
| 645 | &nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>4.500%—01/15/2042-08/20/2047 | 641 |

---

---

| | | |
|:---|:---|:---|
| **Mortgage Pass-Through—Continued** | **Mortgage Pass-Through—Continued** | **Mortgage Pass-Through—Continued** |
| **Principal**<br> **Amount**<br>|  | **Value** |
| $7548 | &nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>5.000%—10/20/2053 | $7580 |
| 6428 | &nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>5.500%—04/20/2053 | 6560 |
|  |  | 42296 |
|  | &nbsp;&nbsp;&nbsp; Government National Mortgage Association <br> REMICS<br>|  |
| 2351 | &nbsp;&nbsp;&nbsp; Series 2012-140 Cl. JD <br>1.750%—01/20/2041<br>| 2283 |
| 1752 | &nbsp;&nbsp;&nbsp; Series 2013-70 Cl. AE <br>1.750%—11/20/2040<br>| 1691 |
|  |  | 3974 |
| &nbsp;&nbsp;&nbsp; **Total Mortgage Pass-Through** <br>(Cost $377,430) | &nbsp;&nbsp;&nbsp; **Total Mortgage Pass-Through** <br>(Cost $377,430) | 383376 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
| **Municipal Bonds—0.5%** | **Municipal Bonds—0.5%** | **Municipal Bonds—0.5%** |
| 1380 | &nbsp;&nbsp;&nbsp; City of New York <br>5.935%—02/01/2055<br>| 1453 |
| 435 | &nbsp;&nbsp;&nbsp; Empire State Development Corp. <br>5.770%—03/15/2039<br>| 447 |
| 145 | &nbsp;&nbsp;&nbsp; Metropolitan Water Reclamation District of Greater <br> Chicago <br>5.720%—12/01/2038<br>| 150 |
| 2515 | &nbsp;&nbsp;&nbsp; New Hampshire Health & Education Facilities <br> Authority Act <br>5.040%—11/01/2034<br>| 2531 |
| 495 | &nbsp;&nbsp;&nbsp; Sales Tax Securitization Corp. <br>4.637%—01/01/2040<br>| 482 |
| 300 | &nbsp;&nbsp;&nbsp; State of California <br>7.500%—04/01/2034<br>| 348 |
| 1952 | &nbsp;&nbsp;&nbsp; Texas Natural Gas Securitization Finance Corp. <br>5.102%—04/01/2035<br>| 2015 |
| &nbsp;&nbsp;&nbsp; **Total Municipal Bonds** <br>(Cost $7,340) | &nbsp;&nbsp;&nbsp; **Total Municipal Bonds** <br>(Cost $7,340) | 7426 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
| **U.S. Government Obligations—23.0%** | **U.S. Government Obligations—23.0%** | **U.S. Government Obligations—23.0%** |
|  | U.S. Treasury Bonds |  |
| 72738 | &nbsp;&nbsp;&nbsp; 4.250%—02/15/2054-08/15/2054 | 65451 |
| 24410 | &nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>4.375%—08/15/2043 | 23243 |
| 69828 | &nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>4.500%—02/15/2044 | 67332 |
| 42772 | &nbsp;&nbsp;&nbsp; 4.625%—05/15/2044-02/15/2055 | 41620 |
| 9785 | &nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>4.750%—08/15/2055 | 9573 |
| 13550 | &nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>4.875%—08/15/2045 | 13631 |
|  |  | 220850 |
| 7997 | &nbsp;&nbsp;&nbsp; U.S. Treasury Inflation-Indexed Notes <br>1.875%—07/15/2035<sup>6</sup><br>| 8025 |
|  | U.S. Treasury Notes |  |
| 79932 | &nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>3.500%—11/30/2030 | 78914 |
| 44826 | &nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>3.625%—08/31/2030 | 44546 |
| 19905 | &nbsp;&nbsp;&nbsp; 4.000%—05/31/2030-11/15/2035 | 19885 |
|  |  | 143345 |
| &nbsp;&nbsp;&nbsp; **Total U.S. Government Obligations** <br>(Cost $380,276) | &nbsp;&nbsp;&nbsp; **Total U.S. Government Obligations** <br>(Cost $380,276) | 372220 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

------

⬤

------

**Harbor Core Bond Fund**

**PORTFOLIO OF INVESTMENTS—Continued**

------

*Principal Amount, Value and Cost in Thousands* 

---

| | |
|:---|:---|
| **Short-Term Investments—0.4%** | **Short-Term Investments—0.4%** |
| **Principal** <br>**Amount**<br>| **Value** |
| &nbsp;&nbsp;&nbsp; (Cost $5,966) | &nbsp;&nbsp;&nbsp; (Cost $5,966) |
| **U.S. TREASURY BILLS—0.4%** | **U.S. TREASURY BILLS—0.4%** |
| $5993<br> &nbsp;&nbsp;&nbsp; U.S. Treasury Bills <br>3.532%—03/19/2026<sup>†</sup><br>| $5966 |
| &nbsp;&nbsp;&nbsp; **TOTAL INVESTMENTS—98.4%** <br>(Cost $1,579,445) | 1589465 |
| **CASH AND OTHER ASSETS, LESS LIABILITIES—1.6%** | 26468 |
| **TOTAL NET ASSETS—100.0%** | $1615933 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

**FAIR VALUE MEASUREMENTS**

All investments as of January 31, 2026 (as disclosed in the preceding Portfolio of Investments) were classified as Level 2. <br>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.

------

†

Coupon represents yield to maturity

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, 2026, the aggregate value of these securities was $376,165 or 23% of net assets.

Step coupon security; the stated rate represents the rate in effect as of January 31, 2026.

Variable or floating rate security; the stated rate represents the rate in effect as of January 31, 2026. 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.

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.

Zero coupon bond

Inflation-protected securities are securities in which the principal amount is adjusted for inflation and interest payments are applied to the inflation-adjusted principal.

CLO

Collateralized Loan Obligation

MTN

Medium Term Note

REMICS

Real Estate Mortgage Investment Conduits

The accompanying notes are an integral part of the Portfolios of Investments.

------

⬤

------

**Harbor Core Plus Fund**

**PORTFOLIO OF INVESTMENTS—January 31, 2026 (Unaudited)**

------

*Principal Amount, Value and Cost in Thousands*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
| **Asset-Backed Securities—11.8%** | **Asset-Backed Securities—11.8%** | **Asset-Backed Securities—11.8%** |
| **Principal** <br>**Amount**<br>|  | **Value** |
| $1603 | &nbsp;&nbsp;&nbsp; Aligned Data Centers Issuer LLC <br>Series 2021-1A Cl. A2 <br>1.937%—08/15/2046<sup>1</sup><br>| $1580 |
| 5305 | &nbsp;&nbsp;&nbsp; AMSR Trust <br>Series 2024-SFR1 Cl. A <br>4.290%—07/17/2041<sup>1,2</sup><br>| 5273 |
| 2944 | &nbsp;&nbsp;&nbsp; Apidos CLO XLVIII Ltd. <br>Series 2024-48A Cl. A1 <br>5.108% (3 Month USD Term SOFR + 1.440%) <br> 07/25/2037<sup>1,3</sup><br>| 2957 |
| 370 | &nbsp;&nbsp;&nbsp; Applebee's Funding LLC/IHOP Funding LLC <br>Series 2025-1A Cl. A2 <br>6.720%—06/07/2055<sup>1</sup><br>| 374 |
| 3702 | &nbsp;&nbsp;&nbsp; Avis Budget Rental Car Funding AESOP LLC <br>Series 2024-1A Cl. A <br>5.360%—06/20/2030<sup>1</sup><br>| 3827 |
| 5940 | &nbsp;&nbsp;&nbsp; Carlyle Global Market Strategies CLO Ltd. <br>Series 2016-1A Cl. A1R3 <br>4.758% (3 Month USD Term SOFR + 1.090%) <br> 04/20/2034<sup>1,3</sup><br>| 5947 |
|  | CIFC Funding Ltd. |  |
| 6333 | &nbsp;&nbsp;&nbsp; Series 2023-3A Cl. A1R <br>4.863% (3 Month USD Term SOFR + 1.200%) <br> 01/20/2039<sup>1,3</sup><br>| 6333 <br><sup>x</sup><br>|
| 5976 | &nbsp;&nbsp;&nbsp; Series 2023-3A Cl. A <br>5.268% (3 Month USD Term SOFR + 1.600%) <br> 01/20/2037<sup>1,3</sup><br>| 5976 |
|  |  | 12309 |
|  | DB Master Finance LLC |  |
| 2194 | &nbsp;&nbsp;&nbsp; Series 2021-1A Cl. A2II <br>2.493%—11/20/2051<sup>1</sup><br>| 2079 |
| 3727 | &nbsp;&nbsp;&nbsp; Series 2025-1A Cl. A2I <br>4.891%—08/20/2055<sup>1</sup><br>| 3728 |
|  |  | 5807 |
| 3740 | &nbsp;&nbsp;&nbsp; Domino's Pizza Master Issuer LLC <br>Series 2021-1A Cl. A2I <br>2.662%—04/25/2051<sup>1</sup><br>| 3566 |
| 6318 | &nbsp;&nbsp;&nbsp; FirstKey Homes Trust <br>Series 2021-SFR1 Cl. A <br>1.538%—08/17/2038<sup>1</sup><br>| 6226 |
| 3425 | &nbsp;&nbsp;&nbsp; Flatiron CLO 26 Ltd. <br>Series 2024-4A Cl. A <br>5.002% (3 Month USD Term SOFR + 1.330%) <br> 01/15/2038<sup>1,3</sup><br>| 3441 |
| 2882 | &nbsp;&nbsp;&nbsp; GoldenTree Loan Management U.S. CLO 20 Ltd. <br>Series 2024-20A Cl. A <br>5.118% (3 Month USD Term SOFR + 1.450%) <br> 07/20/2037<sup>1,3</sup><br>| 2891 |
| 4909 | &nbsp;&nbsp;&nbsp; Golub Capital Partners CLO 62B Ltd. <br>Series 2022-62A Cl. AR <br>5.042% (3 Month USD Term SOFR + 1.370%) <br> 10/15/2037<sup>1,3</sup><br>| 4925 |
| 2992 | &nbsp;&nbsp;&nbsp; Golub Capital Partners CLO 64B-R Ltd. <br>Series 2022-64A Cl. AR <br>5.028% (3 Month USD Term SOFR + 1.360%) <br> 10/25/2037<sup>1,3</sup><br>| 3004 |
| 760 | &nbsp;&nbsp;&nbsp; Home Partners of America Trust <br>Series 2022-1 Cl. A <br>3.930%—04/17/2039<sup>1</sup><br>| 758 |
| 3546 | &nbsp;&nbsp;&nbsp; Jersey Mike's Funding LLC <br>Series 2025-1A Cl. A2 <br>5.610%—08/16/2055<sup>1</sup><br>| 3623 |

---

---

| | | |
|:---|:---|:---|
| **Asset-Backed Securities—Continued** | **Asset-Backed Securities—Continued** | **Asset-Backed Securities—Continued** |
| **Principal**<br> **Amount**<br>|  | **Value** |
| $556 | &nbsp;&nbsp;&nbsp; JP Morgan Mortgage Acquisition Trust <br>Series 2007-HE1 Cl. AF3 <br>4.143%—05/25/2035<sup>2</sup><br>| $364 |
| 2542 | &nbsp;&nbsp;&nbsp; Kinetic ABS Issuer LLC <br>Series 2026-1A Cl. A2 <br>5.219%—02/25/2056<sup>1</sup><br>| 2551 |
| 2376 | &nbsp;&nbsp;&nbsp; Morgan Stanley ABS Capital I, Inc. Trust <br>Series 2007-HE6 Cl. A3 <br>3.967% (1 Month USD Term SOFR + 0.474%) <br> 05/25/2037<sup>3</sup><br>| 2179 |
| 2300 | &nbsp;&nbsp;&nbsp; Palmer Square CLO Ltd. <br>Series 2022-4A Cl. A1R <br>5.018% (3 Month USD Term SOFR + 1.350%) <br> 10/20/2037<sup>1,3</sup><br>| 2308 |
| 4300 | &nbsp;&nbsp;&nbsp; Palmer Square Loan Funding Ltd. <br>Series 2025-3A Cl. A1 <br>4.660% (3 Month USD Term SOFR + 0.950%) <br> 01/15/2034<sup>1,3</sup><br>| 4300 |
|  | Planet Fitness Master Issuer LLC |  |
| 788 | &nbsp;&nbsp;&nbsp; Series 2019-1A Cl. A2 <br>3.858%—12/05/2049<sup>1</sup><br>| 758 |
| 1953 | &nbsp;&nbsp;&nbsp; Series 2024-1A Cl. A2I <br>5.765%—06/05/2054<sup>1</sup><br>| 1987 |
|  |  | 2745 |
| 3205 | &nbsp;&nbsp;&nbsp; Sabey Data Center Issuer LLC <br>Series 2025-1 Cl. A2 <br>5.733%—02/21/2050<sup>1</sup><br>| 3269 |
| 3825 | &nbsp;&nbsp;&nbsp; SBA Small Business Investment Cos. <br>Series 2025-10A Cl. 1 <br>4.963%—03/10/2035<br>| 3895 |
| 4593 | &nbsp;&nbsp;&nbsp; Servpro Master Issuer LLC <br>Series 2021-1A Cl. A2 <br>2.394%—04/25/2051<sup>1</sup><br>| 4375 |
| 7000 | &nbsp;&nbsp;&nbsp; Stack Infrastructure Issuer LLC <br>Series 2021-1A Cl. A2 <br>1.877%—03/26/2046<sup>1</sup><br>| 6965 |
| 2554 | &nbsp;&nbsp;&nbsp; Store Master Funding LLC <br>Series 2024-1A Cl. A1 <br>5.690%—05/20/2054<sup>1</sup><br>| 2587 |
|  | Subway Funding LLC |  |
| 3587 | &nbsp;&nbsp;&nbsp; Series 2024-3A Cl. A2II <br>5.566%—07/30/2054<sup>1</sup><br>| 3578 |
| 2876 | &nbsp;&nbsp;&nbsp; Series 2024-1A Cl. A2I <br>6.028%—07/30/2054<sup>1</sup><br>| 2916 |
|  |  | 6494 |
| 6878 | &nbsp;&nbsp;&nbsp; Taco Bell Funding LLC <br>Series 2021-1A Cl. A2I <br>1.946%—08/25/2051<sup>1</sup><br>| 6720 |
|  | Tricon Residential Trust |  |
| 5156 | &nbsp;&nbsp;&nbsp; Series 2023-SFR1 Cl. A <br>5.100%—07/17/2040<sup>1</sup><br>| 5181 |
| 3523 | &nbsp;&nbsp;&nbsp; Series 2025-SFR2 Cl. A <br>5.200%—08/17/2044<sup>1</sup><br>| 3555 |
|  |  | 8736 |
|  | U.S. Small Business Administration |  |
| 4546 | &nbsp;&nbsp;&nbsp; Series 2024-25B Cl. 1 <br>5.070%—02/01/2049<br>| 4597 |
| 2556 | &nbsp;&nbsp;&nbsp; Series 2023-25K Cl. 1 <br>5.710%—11/01/2048<br>| 2700 |
| 278 | &nbsp;&nbsp;&nbsp; Series 2009-20A Cl. 1 <br>5.720%—01/01/2029<br>| 281 |

---

------

⬤

------

**Harbor Core Plus Fund**

**PORTFOLIO OF INVESTMENTS—Continued**

------

*Principal Amount, Value and Cost in Thousands* 

---

| | | |
|:---|:---|:---|
| **Asset-Backed Securities—Continued** | **Asset-Backed Securities—Continued** | **Asset-Backed Securities—Continued** |
| **Principal**<br> **Amount**<br>|  | **Value** |
| $1743 | &nbsp;&nbsp;&nbsp; Series 2023-25J Cl. 1 <br>5.820%—10/01/2048<br>| $1850 |
| 402 | &nbsp;&nbsp;&nbsp; Series 2008-20H Cl. 1 <br>6.020%—08/01/2028<br>| 409 |
|  |  | 9837 |
|  | Uniti Fiber ABS Issuer LLC |  |
| 1357 | &nbsp;&nbsp;&nbsp; Series 2025-2A Cl. A2 <br>5.177%—01/20/2056<sup>1</sup><br>| 1364 |
| 1194 | &nbsp;&nbsp;&nbsp; Series 2025-1A Cl. A2 <br>5.877%—04/20/2055<sup>1</sup><br>| 1224 |
|  |  | 2588 |
| 6810 | &nbsp;&nbsp;&nbsp; VB-S1 Issuer LLC <br>Series 2022-1A Cl. C2I <br>3.156%—02/15/2052<sup>1</sup><br>| 6651 |
| 6679 | &nbsp;&nbsp;&nbsp; Wendy's Funding LLC <br>Series 2021-1A Cl. A2I <br>2.370%—06/15/2051<sup>1</sup><br>| 6259 |
| &nbsp;&nbsp;&nbsp; **Total Asset-Backed Securities** <br>(Cost $147,716) | &nbsp;&nbsp;&nbsp; **Total Asset-Backed Securities** <br>(Cost $147,716) | 149331 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
| **Collateralized Mortgage Obligations—12.2%** | **Collateralized Mortgage Obligations—12.2%** | **Collateralized Mortgage Obligations—12.2%** |
| 2655 | &nbsp;&nbsp;&nbsp; Angel Oak Mortgage Trust <br>Series 2022-1 Cl. A1 <br>3.881%—12/25/2066<sup>1,2</sup><br>| 2534 |
| 175 | &nbsp;&nbsp;&nbsp; Argent Securities, Inc. Asset-Backed Pass-Through <br> Certificates <br>Series 2004-W11 Cl. M3 <br>4.912% (1 Month USD Term SOFR + 1.239%) <br> 11/25/2034<sup>3</sup><br>| 178 |
| 3200 | &nbsp;&nbsp;&nbsp; Bank <br>Series 2024-BNK48 Cl. A5 <br>5.053%—10/15/2057<br>| 3259 |
| 4948 | &nbsp;&nbsp;&nbsp; Bank5 <br>Series 2023-5YR2 Cl. A3 <br>6.656%—07/15/2056<sup>3</sup><br>| 5200 |
| 5383 | &nbsp;&nbsp;&nbsp; BBCMS Mortgage Trust <br>Series 2024-5C27 Cl. A3 <br>6.014%—07/15/2057<br>| 5657 |
| 60 | &nbsp;&nbsp;&nbsp; BCAP LLC Trust <br>Series 2011-RR5 Cl. 12A1 <br>4.441%—03/26/2037<sup>1,2</sup><br>| 60 |
|  | Bear Stearns ARM Trust |  |
| 5 | &nbsp;&nbsp;&nbsp; Series 2000-2 Cl. A1 <br>4.791%—11/25/2030<sup>3</sup><br>| 5 |
| 106 | &nbsp;&nbsp;&nbsp; Series 2004-1 Cl. 12A5 <br>5.228%—04/25/2034<sup>3</sup><br>| 95 |
|  |  | 100 |
|  | Benchmark Mortgage Trust |  |
| 3238 | &nbsp;&nbsp;&nbsp; Series 2022-B35 Cl. A5 <br>4.442%—05/15/2055<sup>3</sup><br>| 3177 |
| 3600 | &nbsp;&nbsp;&nbsp; Series 2023-V4 Cl. A3 <br>6.841%—11/15/2056<sup>3</sup><br>| 3813 |
|  |  | 6990 |
| 3803 | &nbsp;&nbsp;&nbsp; BFLD Commercial Mortgage Trust <br>Series 2025-5MW Cl. A <br>4.674%—10/10/2042<sup>1,3</sup><br>| 3820 |
| 2070 | &nbsp;&nbsp;&nbsp; BFLD Trust <br>Series 2025-FPM Cl. A <br>5.178%—10/10/2040<sup>1,3</sup><br>| 2102 |

---

---

| | | |
|:---|:---|:---|
| **Collateralized Mortgage Obligations—Continued** | **Collateralized Mortgage Obligations—Continued** | **Collateralized Mortgage Obligations—Continued** |
| **Principal**<br> **Amount**<br>|  | **Value** |
| $4698 | &nbsp;&nbsp;&nbsp; BMO Mortgage Trust <br>Series 2023-C7 Cl. A5 <br>6.160%—12/15/2056<br>| $5029 |
| 2402 | &nbsp;&nbsp;&nbsp; BSTN Commercial Mortgage Trust <br>Series 2025-1C Cl. A <br>5.548%—06/15/2044<sup>1,3</sup><br>| 2470 |
| 609 | &nbsp;&nbsp;&nbsp; BX Commercial Mortgage Trust <br>Series 2022-LP2 Cl. A <br>4.693% (1 Month USD Term SOFR + 1.013%) <br> 02/15/2039<sup>1,3</sup><br>| 609 |
|  | BX Trust |  |
| 4536 | &nbsp;&nbsp;&nbsp; Series 2024-VLT4 Cl. A <br>5.172% (1 Month USD Term SOFR + 1.491%) <br> 06/15/2041<sup>1,3</sup><br>| 4547 |
| 5219 | &nbsp;&nbsp;&nbsp; Series 2024-BIO Cl. A <br>5.322% (1 Month USD Term SOFR + 1.642%) <br> 02/15/2041<sup>1,3</sup><br>| 5225 |
|  |  | 9772 |
| 3317 | &nbsp;&nbsp;&nbsp; CENT <br>Series 2025-CITY Cl. A <br>4.920%—07/10/2040<sup>1,3</sup><br>| 3368 |
| 3828 | &nbsp;&nbsp;&nbsp; Citigroup Commercial Mortgage Trust <br>Series 2019-GC43 Cl. A4 <br>3.038%—11/10/2052<br>| 3622 |
| 3963 | &nbsp;&nbsp;&nbsp; Citigroup Mortgage Loan Trust, Inc. <br>Series 2025-1 Cl. A8 <br>5.500%—01/25/2055<sup>1,3</sup><br>| 3994 |
|  | Countrywide Alternative Loan Trust |  |
| 1328 | &nbsp;&nbsp;&nbsp; Series 2006-6CB Cl. 1A2 <br>4.187% (1 Month USD Term SOFR + 0.514%) <br> 05/25/2036<sup>3</sup><br>| 1023 |
| 1078 | &nbsp;&nbsp;&nbsp; Series 2005-20CB Cl. 2A5 <br>5.500%—07/25/2035<br>| 685 |
|  |  | 1708 |
| 175 | &nbsp;&nbsp;&nbsp; CSFB Mortgage-Backed Pass-Through Certificates <br>Series 2005-10 Cl. 9A1 <br>6.000%—11/25/2035<br>| 120 |
| 90 | &nbsp;&nbsp;&nbsp; DBJPM Mortgage Trust <br>Series 2020-C9 Cl. A2 <br>1.900%—08/15/2053<br>| 90 |
| 2109 | &nbsp;&nbsp;&nbsp; Deutsche Alt-A Securities, Inc. Mortgage Loan Trust <br>Series 2007-AR2 Cl. A1 <br>4.087% (1 Month USD Term SOFR + 0.414%) <br> 03/25/2037<sup>3</sup><br>| 2022 |
| 600 | &nbsp;&nbsp;&nbsp; DSLA Mortgage Loan Trust <br>Series 2006-AR1 Cl. 1A1A <br>4.588% (Fed 12 Month Treasury Average Constant <br> Maturity Treasury + 0.920%) 03/19/2046<sup>3</sup><br>| 520 |
| 1731 | &nbsp;&nbsp;&nbsp; EQT Trust <br>Series 2024-EXTR Cl. A <br>5.331%—07/05/2041<sup>1,3</sup><br>| 1769 |
| 3144 | &nbsp;&nbsp;&nbsp; Fashion Show Mall LLC <br>Series 2024-SHOW Cl. A <br>5.274%—10/10/2041<sup>1,3</sup><br>| 3203 |
| 98 | &nbsp;&nbsp;&nbsp; First Horizon Asset Securities, Inc. <br>Series 2005-AR6 Cl. 4A1 <br>5.188%—02/25/2036<sup>3</sup><br>| 95 |
|  | &nbsp;&nbsp;&nbsp; FNT Mortgage-Backed Pass-Through Trust <br>Series 2001-3 Cl. 1A1 <br>6.750%—08/21/2031<br>|  |

---

------

⬤

------

**Harbor Core Plus Fund**

**PORTFOLIO OF INVESTMENTS—Continued**

------

*Principal Amount, Value and Cost in Thousands* 

---

| | | |
|:---|:---|:---|
| **Collateralized Mortgage Obligations—Continued** | **Collateralized Mortgage Obligations—Continued** | **Collateralized Mortgage Obligations—Continued** |
| **Principal**<br> **Amount**<br>|  | **Value** |
|  | GS Mortgage-Backed Securities Trust |  |
| $6158 | &nbsp;&nbsp;&nbsp; Series 2025-PJ11 Cl. A4 <br>5.500%—05/25/2056<sup>1,3</sup><br>| $6237 |
| 2064 | &nbsp;&nbsp;&nbsp; Series 2024-PJ5 Cl. A15 <br>6.000%—09/25/2054<sup>1,3</sup><br>| 2089 |
|  |  | 8326 |
| 2262 | &nbsp;&nbsp;&nbsp; GSMPS Mortgage Loan Trust <br>Series 2006-RP2 Cl. 1AF1 <br>4.187% (1 Month USD Term SOFR + 0.514%) <br> 04/25/2036<sup>1,3</sup><br>| 1970 |
| 152 | &nbsp;&nbsp;&nbsp; GSR Mortgage Loan Trust <br>Series 2005-AR3 Cl. 3A1 <br>6.436%—05/25/2035<sup>3</sup><br>| 113 |
|  | &nbsp;&nbsp;&nbsp; IndyMac ARM Trust <br>Series 2001-H2 Cl. A2 <br>5.653%—01/25/2032<sup>3</sup><br>|  |
| 2126 | &nbsp;&nbsp;&nbsp; INT Commercial Mortgage Trust <br>Series 2025-PLAZA Cl. A <br>5.041%—11/05/2037<sup>1,3</sup><br>| 2151 |
| 3551 | &nbsp;&nbsp;&nbsp; JP Morgan Chase Commercial Mortgage Securities <br> Trust <br>Series 2024-OMNI Cl. A <br>5.797%—10/05/2039<sup>1,3</sup><br>| 3620 |
|  | JP Morgan Mortgage Trust |  |
| 2115 | &nbsp;&nbsp;&nbsp; Series 2024-3 Cl. A6 <br>3.000%—05/25/2054<sup>1,3</sup><br>| 1999 |
| 5368 | &nbsp;&nbsp;&nbsp; Series 2022-3 Cl. A6 <br>3.000%—08/25/2052<sup>1,3</sup><br>| 5090 |
| 770 | &nbsp;&nbsp;&nbsp; Series 2006-A6 Cl. 1A4L <br>4.260%—10/25/2036<sup>3</sup><br>| 545 |
| 3050 | &nbsp;&nbsp;&nbsp; Series 2025-12MPR Cl. A1D <br>5.055%—06/25/2056<sup>1,2</sup><br>| 3042 |
| 2356 | &nbsp;&nbsp;&nbsp; Series 2025-7MPR Cl. A1D <br>5.324%—02/25/2056<sup>1,2</sup><br>| 2366 |
| 5 | &nbsp;&nbsp;&nbsp; Series 2006-S1 Cl. 3A1 <br>5.500%—04/25/2036<br>| 4 |
| 2673 | &nbsp;&nbsp;&nbsp; Series 2023-4 Cl. 1A4A <br>5.500%—11/25/2053<sup>1,3</sup><br>| 2691 |
| 2981 | &nbsp;&nbsp;&nbsp; Series 2025-5MPR Cl. A1D <br>5.500%—11/25/2055<sup>1,2</sup><br>| 2991 |
| 5598 | &nbsp;&nbsp;&nbsp; Series 2025-8 Cl. A4A <br>5.500%—02/25/2056<sup>1,3</sup><br>| 5619 |
|  |  | 24347 |
| 4718 | &nbsp;&nbsp;&nbsp; KIND Commercial Mortgage Trust <br>Series 2024-1 Cl. A <br>5.570% (1 Month USD Term SOFR + 1.890%) <br> 08/15/2041<sup>1,3</sup><br>| 4731 |
| 413 | &nbsp;&nbsp;&nbsp; Merrill Lynch Alternative Note Asset Trust <br>Series 2007-F1 Cl. 2A6 <br>6.000%—03/25/2037<br>| 129 |
| 1465 | &nbsp;&nbsp;&nbsp; MetLife Securitization Trust <br>Series 2018-1A Cl. A <br>3.750%—03/25/2057<sup>1,3</sup><br>| 1434 |
| 2447 | &nbsp;&nbsp;&nbsp; NYC Commercial Mortgage Trust <br>Series 2025-28L Cl. A <br>4.668%—11/05/2038<sup>1,3</sup><br>| 2461 |
| 1188 | &nbsp;&nbsp;&nbsp; OBX Trust <br>Series 2018-1 Cl. A2 <br>4.437% (1 Month USD Term SOFR + 0.764%) <br> 06/25/2057<sup>1,3</sup><br>| 1178 |

---

---

| | | |
|:---|:---|:---|
| **Collateralized Mortgage Obligations—Continued** | **Collateralized Mortgage Obligations—Continued** | **Collateralized Mortgage Obligations—Continued** |
| **Principal**<br> **Amount**<br>|  | **Value** |
| $415 | &nbsp;&nbsp;&nbsp; Saxon Asset Securities Trust <br>Series 2006-3 Cl. A3 <br>4.127% (1 Month USD Term SOFR + 0.454%) <br> 10/25/2046<sup>3</sup><br>| $410 |
|  | Sequoia Mortgage Trust |  |
| 3525 | &nbsp;&nbsp;&nbsp; Series 2023-1 Cl. A4 <br>5.000%—01/25/2053<sup>1,3</sup><br>| 3523 |
| 3101 | &nbsp;&nbsp;&nbsp; Series 2023-2 Cl. A4 <br>5.000%—03/25/2053<sup>1,3</sup><br>| 3100 |
| 4164 | &nbsp;&nbsp;&nbsp; Series 2025-7 Cl. A11 <br>5.500%—08/25/2055<sup>1,3</sup><br>| 4183 |
|  |  | 10806 |
| 154 | &nbsp;&nbsp;&nbsp; STARM Mortgage Loan Trust <br>Series 2007-S1 Cl. 1A <br>6.628%—01/25/2037<sup>3</sup><br>| 88 |
| 4870 | &nbsp;&nbsp;&nbsp; SWCH Commercial Mortgage Trust <br>Series 2025-DATA Cl. A <br>5.123% (1 Month USD Term SOFR + 1.443%) <br> 02/15/2042<sup>1,3</sup><br>| 4842 |
|  | Towd Point Mortgage Trust |  |
| 2947 | &nbsp;&nbsp;&nbsp; Series 2019-1 Cl. A1 <br>3.750%—03/25/2058<sup>1,3</sup><br>| 2881 |
| 3100 | &nbsp;&nbsp;&nbsp; Series 2018-6 Cl. A1B <br>3.750%—03/25/2058<sup>1,3</sup><br>| 3033 |
|  |  | 5914 |
| 2302 | &nbsp;&nbsp;&nbsp; Tricon American Homes Trust <br>Series 2020-SFR1 Cl. A <br>1.499%—07/17/2038<sup>1</sup><br>| 2272 |
|  | WaMu Mortgage Pass-Through Certificates Trust |  |
| 46 | &nbsp;&nbsp;&nbsp; Series 2005-AR13 Cl. A1A1 <br>4.367% (1 Month USD Term SOFR + 0.694%) <br> 10/25/2045<sup>3</sup><br>| 45 |
| 1102 | &nbsp;&nbsp;&nbsp; Series 2006-AR8 Cl. 1A4 <br>4.473%—08/25/2046<sup>3</sup><br>| 1041 |
|  |  | 1086 |
| 7117 | &nbsp;&nbsp;&nbsp; Wells Fargo Commercial Mortgage Trust <br>Series 2018-C48 Cl. A5 <br>4.302%—01/15/2052<br>| 7136 |
| 3591 | &nbsp;&nbsp;&nbsp; WHARF Commercial Mortgage Trust <br>Series 2025-DC Cl. A <br>5.528%—07/15/2040<sup>1,3</sup><br>| 3704 |
| &nbsp;&nbsp;&nbsp; **Total Collateralized Mortgage Obligations** <br>(Cost $155,036) | &nbsp;&nbsp;&nbsp; **Total Collateralized Mortgage Obligations** <br>(Cost $155,036) | 155009 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
| **Corporate Bonds & Notes—30.2%** | **Corporate Bonds & Notes—30.2%** | **Corporate Bonds & Notes—30.2%** |
| **AEROSPACE & DEFENSE—0.5%** | **AEROSPACE & DEFENSE—0.5%** | **AEROSPACE & DEFENSE—0.5%** |
| 1798 | &nbsp;&nbsp;&nbsp; Embraer Netherlands Finance BV <br>5.980%—02/11/2035<br>| 1904 |
| 3995 | &nbsp;&nbsp;&nbsp; Hexcel Corp. <br>5.875%—02/26/2035<br>| 4195 |
|  |  | 6099 |
| **AUTOMOBILE COMPONENTS—0.2%** | **AUTOMOBILE COMPONENTS—0.2%** | **AUTOMOBILE COMPONENTS—0.2%** |
| 2392 | &nbsp;&nbsp;&nbsp; American Axle & Manufacturing, Inc. <br>6.375%—10/15/2032<sup>1</sup><br>| 2442 |
| **AUTOMOBILES—0.5%** | **AUTOMOBILES—0.5%** | **AUTOMOBILES—0.5%** |
| 3800 | &nbsp;&nbsp;&nbsp; Ford Motor Credit Co. LLC <br>6.125%—03/08/2034<br>| 3889 |

---

------

⬤

------

**Harbor Core Plus Fund**

**PORTFOLIO OF INVESTMENTS—Continued**

------

*Principal Amount, Value and Cost in Thousands* 

---

| | | |
|:---|:---|:---|
| **Corporate Bonds & Notes—Continued** | **Corporate Bonds & Notes—Continued** | **Corporate Bonds & Notes—Continued** |
| **Principal**<br> **Amount**<br>|  | **Value** |
| **AUTOMOBILES—Continued** | **AUTOMOBILES—Continued** | **AUTOMOBILES—Continued** |
| $2352 | &nbsp;&nbsp;&nbsp; General Motors Financial Co., Inc. <br>5.800%—06/23/2028<br>| $2437 |
|  |  | 6326 |
| **BANKS—1.7%** | **BANKS—1.7%** | **BANKS—1.7%** |
| 2751 | &nbsp;&nbsp;&nbsp; Bank of America Corp. <br>5.744%—02/12/2036<sup>4</sup><br>| 2845 |
| 5703 | &nbsp;&nbsp;&nbsp; Barclays PLC <br>5.690%—03/12/2030<sup>4</sup><br>| 5940 |
| 4700 | &nbsp;&nbsp;&nbsp; Citigroup, Inc. <br>2.572%—06/03/2031<sup>4</sup><br>| 4359 |
| 1995 | &nbsp;&nbsp;&nbsp; ING Groep NV <br>6.114%—09/11/2034<sup>4</sup><br>| 2153 |
| 2981 | &nbsp;&nbsp;&nbsp; Lloyds Banking Group PLC <br>6.068%—06/13/2036<sup>4</sup><br>| 3126 |
| 3001 | &nbsp;&nbsp;&nbsp; Truist Financial Corp. MTN <br>6.123%—10/28/2033<sup>4</sup><br>| 3235 |
|  |  | 21658 |
| **BEVERAGES—0.4%** | **BEVERAGES—0.4%** | **BEVERAGES—0.4%** |
| 4635 | &nbsp;&nbsp;&nbsp; Diageo Investment Corp. <br>5.625%—04/15/2035<br>| 4880 |
| **BUILDING PRODUCTS—0.3%** | **BUILDING PRODUCTS—0.3%** | **BUILDING PRODUCTS—0.3%** |
| 3758 | &nbsp;&nbsp;&nbsp; Standard Building Solutions, Inc. <br>5.875%—03/15/2034<sup>1</sup><br>| 3757 |
| **CAPITAL MARKETS—3.7%** | **CAPITAL MARKETS—3.7%** | **CAPITAL MARKETS—3.7%** |
| 3101 | &nbsp;&nbsp;&nbsp; Antares Holdings LP <br>6.350%—10/23/2029<sup>1</sup><br>| 3176 |
| 6000 | &nbsp;&nbsp;&nbsp; Blackstone Holdings Finance Co. LLC <br>3.200%—01/30/2052<sup>1</sup><br>| 4027 |
| 5700 | &nbsp;&nbsp;&nbsp; Blue Owl Capital Corp. <br>2.875%—06/11/2028<br>| 5404 |
| 490 | &nbsp;&nbsp;&nbsp; Blue Owl Credit Income Corp. <br>6.600%—09/15/2029<br>| 504 |
| 6096 | &nbsp;&nbsp;&nbsp; Brookfield Capital Finance LLC <br>6.087%—06/14/2033<br>| 6517 |
| 6962 | &nbsp;&nbsp;&nbsp; Brookfield Finance, Inc. <br>6.300%—01/15/2055<sup>4</sup><br>| 6919 |
| 3098 | &nbsp;&nbsp;&nbsp; Golub Capital Private Credit Fund <br>5.800%—09/12/2029<br>| 3144 |
| 3652 | &nbsp;&nbsp;&nbsp; Hercules Capital, Inc. <br>6.000%—06/16/2030<br>| 3695 |
| 5850 | &nbsp;&nbsp;&nbsp; KKR Group Finance Co. VII LLC <br>3.625%—02/25/2050<sup>1</sup><br>| 4213 |
| 1883 | &nbsp;&nbsp;&nbsp; Main Street Capital Corp. <br>6.950%—03/01/2029<br>| 1968 |
| 1709 | &nbsp;&nbsp;&nbsp; Oaktree Specialty Lending Corp. <br>2.700%—01/15/2027<br>| 1675 |
|  | Sixth Street Lending Partners |  |
| 2001 | &nbsp;&nbsp;&nbsp; 5.750%—01/15/2030 | 2024 |
| 3000 | &nbsp;&nbsp;&nbsp; 6.500%—03/11/2029 | 3116 |
|  |  | 5140 |
|  |  | 46382 |
| **COMMERCIAL SERVICES & SUPPLIES—0.6%** | **COMMERCIAL SERVICES & SUPPLIES—0.6%** | **COMMERCIAL SERVICES & SUPPLIES—0.6%** |
| 2898 | &nbsp;&nbsp;&nbsp; ADT Security Corp. <br>5.875%—10/15/2033<sup>1</sup><br>| 2940 |
| 3902 | &nbsp;&nbsp;&nbsp; Rentokil Terminix Funding LLC <br>5.625%—04/28/2035<sup>1</sup><br>| 4024 |

---

---

| | | |
|:---|:---|:---|
| **Corporate Bonds & Notes—Continued** | **Corporate Bonds & Notes—Continued** | **Corporate Bonds & Notes—Continued** |
| **Principal**<br> **Amount**<br>|  | **Value** |
| **COMMERCIAL SERVICES & SUPPLIES—Continued** | **COMMERCIAL SERVICES & SUPPLIES—Continued** | **COMMERCIAL SERVICES & SUPPLIES—Continued** |
| $1350 | &nbsp;&nbsp;&nbsp; Triton Container International Ltd. <br>3.150%—06/15/2031<sup>1</sup><br>| $1235 |
|  |  | 8199 |
| **CONSTRUCTION MATERIALS—0.1%** | **CONSTRUCTION MATERIALS—0.1%** | **CONSTRUCTION MATERIALS—0.1%** |
| 1603 | &nbsp;&nbsp;&nbsp; Standard Industries, Inc. <br>4.375%—07/15/2030<sup>1</sup><br>| 1547 |
| **CONTAINERS & PACKAGING—0.5%** | **CONTAINERS & PACKAGING—0.5%** | **CONTAINERS & PACKAGING—0.5%** |
| 6255 | &nbsp;&nbsp;&nbsp; Sonoco Products Co. <br>4.600%—09/01/2029<br>| 6312 |
| **DIVERSIFIED FINANCIAL SERVICES—3.8%** | **DIVERSIFIED FINANCIAL SERVICES—3.8%** | **DIVERSIFIED FINANCIAL SERVICES—3.8%** |
| 3205 | &nbsp;&nbsp;&nbsp; AerCap Ireland Capital DAC/AerCap Global Aviation <br> Trust <br>5.100%—01/19/2029<br>| 3281 |
| 6200 | &nbsp;&nbsp;&nbsp; Aircastle Ltd. <br>2.850%—01/26/2028<sup>1</sup><br>| 6036 |
| 661 | &nbsp;&nbsp;&nbsp; Aircastle Ltd./Aircastle Ireland DAC <br>5.750%—10/01/2031<sup>1</sup><br>| 690 |
| 3762 | &nbsp;&nbsp;&nbsp; Atlas Warehouse Lending Co. LP <br>6.050%—01/15/2028<sup>1</sup><br>| 3879 |
| 5940 | &nbsp;&nbsp;&nbsp; Aviation Capital Group LLC <br>4.800%—10/24/2030<sup>1</sup><br>| 5957 |
| 3527 | &nbsp;&nbsp;&nbsp; Blue Owl Finance LLC <br>6.250%—04/18/2034<br>| 3636 |
| 4836 | &nbsp;&nbsp;&nbsp; Capital One Financial Corp. <br>5.884%—07/26/2035<sup>4</sup><br>| 5046 |
| 8750 | &nbsp;&nbsp;&nbsp; Depository Trust & Clearing Corp. <br>3.375%—06/20/2026<sup>1,4</sup><br>| 8688 |
| 4899 | &nbsp;&nbsp;&nbsp; GGAM Finance Ltd. <br>5.875%—03/15/2030<sup>1</sup><br>| 4986 |
| 3664 | &nbsp;&nbsp;&nbsp; Macquarie Airfinance Holdings Ltd. <br>5.150%—03/17/2030<sup>1</sup><br>| 3714 |
| 2254 | &nbsp;&nbsp;&nbsp; Voya Financial, Inc. <br>5.000%—09/20/2034<br>| 2248 |
|  |  | 48161 |
| **DIVERSIFIED REITS—0.2%** | **DIVERSIFIED REITS—0.2%** | **DIVERSIFIED REITS—0.2%** |
| 3034 | &nbsp;&nbsp;&nbsp; SBA Tower Trust <br>6.599%—11/15/2052<sup>1</sup><br>| 3103 |
| **DIVERSIFIED TELECOMMUNICATION SERVICES—0.2%** | **DIVERSIFIED TELECOMMUNICATION SERVICES—0.2%** | **DIVERSIFIED TELECOMMUNICATION SERVICES—0.2%** |
| 2915 | &nbsp;&nbsp;&nbsp; Verizon Communications, Inc. <br>3.700%—03/22/2061<br>| 1966 |
| **ELECTRIC UTILITIES—2.0%** | **ELECTRIC UTILITIES—2.0%** | **ELECTRIC UTILITIES—2.0%** |
|  | CMS Energy Corp. |  |
| 4171 | &nbsp;&nbsp;&nbsp; 3.750%—12/01/2050<sup>4</sup> | 3850 |
| 1647 | &nbsp;&nbsp;&nbsp; 4.750%—06/01/2050<sup>4</sup> | 1628 |
|  |  | 5478 |
| 4223 | &nbsp;&nbsp;&nbsp; Dominion Energy, Inc. <br>6.875%—02/01/2055<sup>4</sup><br>| 4400 |
|  | Exelon Corp. |  |
| 5000 | &nbsp;&nbsp;&nbsp; 4.050%—04/15/2030 | 4956 |
| 1500 | &nbsp;&nbsp;&nbsp; 5.625%—06/15/2035 | 1566 |
|  |  | 6522 |
| 2877 | &nbsp;&nbsp;&nbsp; New England Power Co. <br>5.936%—11/25/2052<sup>1</sup><br>| 2907 |
| 2234 | &nbsp;&nbsp;&nbsp; NextEra Energy Capital Holdings, Inc. <br>6.375%—08/15/2055<sup>4</sup><br>| 2308 |

---

------

⬤

------

**Harbor Core Plus Fund**

**PORTFOLIO OF INVESTMENTS—Continued**

------

*Principal Amount, Value and Cost in Thousands* 

---

| | | |
|:---|:---|:---|
| **Corporate Bonds & Notes—Continued** | **Corporate Bonds & Notes—Continued** | **Corporate Bonds & Notes—Continued** |
| **Principal**<br> **Amount**<br>|  | **Value** |
| **ELECTRIC UTILITIES—Continued** | **ELECTRIC UTILITIES—Continued** | **ELECTRIC UTILITIES—Continued** |
| $4075 | &nbsp;&nbsp;&nbsp; NRG Energy, Inc. <br>6.000%—01/15/2036<sup>1</sup><br>| $4119 |
|  |  | 25734 |
| **ELECTRONIC EQUIPMENT, INSTRUMENTS & COMPONENTS—0.0%** | **ELECTRONIC EQUIPMENT, INSTRUMENTS & COMPONENTS—0.0%** | **ELECTRONIC EQUIPMENT, INSTRUMENTS & COMPONENTS—0.0%** |
| 570 | &nbsp;&nbsp;&nbsp; TD SYNNEX Corp. <br>2.650%—08/09/2031<br>| 514 |
| **ENTERTAINMENT—0.3%** | **ENTERTAINMENT—0.3%** | **ENTERTAINMENT—0.3%** |
| 3372 | &nbsp;&nbsp;&nbsp; Allwyn Entertainment Financing U.K. PLC <br>7.875%—04/30/2029<sup>1</sup><br>| 3513 |
| **EQUITY REAL ESTATE INVESTMENT TRUSTS (REITS)—2.4%** | **EQUITY REAL ESTATE INVESTMENT TRUSTS (REITS)—2.4%** | **EQUITY REAL ESTATE INVESTMENT TRUSTS (REITS)—2.4%** |
| 1400 | &nbsp;&nbsp;&nbsp; Agree LP <br>2.900%—10/01/2030<br>| 1311 |
| 2100 | &nbsp;&nbsp;&nbsp; Alexandria Real Estate Equities, Inc. <br>2.750%—12/15/2029<br>| 1982 |
| 5922 | &nbsp;&nbsp;&nbsp; COPT Defense Properties LP <br>2.000%—01/15/2029<br>| 5569 |
| 7548 | &nbsp;&nbsp;&nbsp; EPR Properties <br>4.750%—11/15/2030<br>| 7488 |
| 4500 | &nbsp;&nbsp;&nbsp; GLP Capital LP/GLP Financing II, Inc. <br>4.000%—01/15/2030<br>| 4388 |
| 3398 | &nbsp;&nbsp;&nbsp; Ladder Capital Finance Holdings LLLP/Ladder <br> Capital Finance Corp. <br>5.500%—08/01/2030<br>| 3495 |
| 4700 | &nbsp;&nbsp;&nbsp; Realty Income Corp. <br>3.400%—01/15/2030<br>| 4566 |
| 1947 | &nbsp;&nbsp;&nbsp; VICI Properties LP <br>5.750%—04/01/2034<br>| 2010 |
|  |  | 30809 |
| **FINANCIAL SERVICES—1.0%** | **FINANCIAL SERVICES—1.0%** | **FINANCIAL SERVICES—1.0%** |
| 3249 | &nbsp;&nbsp;&nbsp; Charles Schwab Corp. <br>5.643%—05/19/2029<sup>4</sup><br>| 3373 |
| 982 | &nbsp;&nbsp;&nbsp; Macquarie Airfinance Holdings Ltd. <br>6.400%—03/26/2029<sup>1</sup><br>| 1032 |
| 4875 | &nbsp;&nbsp;&nbsp; Navient Corp. <br>4.875%—03/15/2028<br>| 4781 |
| 2846 | &nbsp;&nbsp;&nbsp; PNC Financial Services Group, Inc. <br>6.875%—10/20/2034<sup>4</sup><br>| 3199 |
|  |  | 12385 |
| **HEALTH CARE PROVIDERS & SERVICES—1.0%** | **HEALTH CARE PROVIDERS & SERVICES—1.0%** | **HEALTH CARE PROVIDERS & SERVICES—1.0%** |
|  | CVS Pass-Through Trust |  |
| 247 | &nbsp;&nbsp;&nbsp; 6.943%—01/10/2030 | 257 |
| 3314 | &nbsp;&nbsp;&nbsp; 7.507%—01/10/2032<sup>1</sup> | 3524 |
|  |  | 3781 |
| 3585 | &nbsp;&nbsp;&nbsp; DaVita, Inc. <br>6.750%—07/15/2033<sup>1</sup><br>| 3682 |
| 4817 | &nbsp;&nbsp;&nbsp; Pediatrix Medical Group, Inc. <br>5.375%—02/15/2030<sup>1</sup><br>| 4835 |
|  |  | 12298 |
| **INDUSTRIAL CONGLOMERATES—1.2%** | **INDUSTRIAL CONGLOMERATES—1.2%** | **INDUSTRIAL CONGLOMERATES—1.2%** |
|  | Ashtead Capital, Inc. |  |
| 8565 | &nbsp;&nbsp;&nbsp; 2.450%—08/12/2031<sup>1</sup> | 7661 |
| 4540 | &nbsp;&nbsp;&nbsp; 5.550%—05/30/2033<sup>1</sup> | 4694 |
|  |  | 12355 |

---

---

| | | |
|:---|:---|:---|
| **Corporate Bonds & Notes—Continued** | **Corporate Bonds & Notes—Continued** | **Corporate Bonds & Notes—Continued** |
| **Principal**<br> **Amount**<br>|  | **Value** |
| **INDUSTRIAL CONGLOMERATES—Continued** | **INDUSTRIAL CONGLOMERATES—Continued** | **INDUSTRIAL CONGLOMERATES—Continued** |
| $3800 | &nbsp;&nbsp;&nbsp; Textron, Inc. <br>2.450%—03/15/2031<br>| $3448 |
|  |  | 15803 |
| **INSURANCE—1.9%** | **INSURANCE—1.9%** | **INSURANCE—1.9%** |
| 1774 | &nbsp;&nbsp;&nbsp; Aspen Insurance Holdings Ltd. <br>5.750%—07/01/2030<br>| 1854 |
| 4786 | &nbsp;&nbsp;&nbsp; Brown & Brown, Inc. <br>5.250%—06/23/2032<br>| 4884 |
| 1781 | &nbsp;&nbsp;&nbsp; Corebridge Financial, Inc. <br>6.875%—12/01/2030<sup>4</sup><br>| 1852 |
| 2150 | &nbsp;&nbsp;&nbsp; Fortitude Group Holdings LLC <br>6.250%—04/01/2030<sup>1</sup><br>| 2231 |
| 6198 | &nbsp;&nbsp;&nbsp; Global Atlantic Fin Co. <br>7.950%—06/15/2033<sup>1</sup><br>| 7068 |
| 6128 | &nbsp;&nbsp;&nbsp; SBL Holdings, Inc. <br>5.000%—02/18/2031<sup>1</sup><br>| 5707 |
|  |  | 23596 |
| **INTERNET & CATALOG RETAIL—0.5%** | **INTERNET & CATALOG RETAIL—0.5%** | **INTERNET & CATALOG RETAIL—0.5%** |
| 6255 | &nbsp;&nbsp;&nbsp; Beignet Investor LLC <br>6.581%—05/30/2049<sup>1</sup><br>| 6517 |
| **IT SERVICES—0.7%** | **IT SERVICES—0.7%** | **IT SERVICES—0.7%** |
| 3866 | &nbsp;&nbsp;&nbsp; Booz Allen Hamilton, Inc. <br>3.875%—09/01/2028<sup>1</sup><br>| 3804 |
| 2383 | &nbsp;&nbsp;&nbsp; Genpact Luxembourg SARL/Genpact USA, Inc. <br>6.000%—06/04/2029<br>| 2500 |
| 2510 | &nbsp;&nbsp;&nbsp; Genpact U.K. Finco PLC/Genpact USA, Inc. <br>4.950%—11/18/2030<br>| 2516 |
|  |  | 8820 |
| **MACHINERY—0.2%** | **MACHINERY—0.2%** | **MACHINERY—0.2%** |
| 2358 | &nbsp;&nbsp;&nbsp; Terex Corp. <br>6.250%—10/15/2032<sup>1</sup><br>| 2416 |
| **MEDIA—0.4%** | **MEDIA—0.4%** | **MEDIA—0.4%** |
| 5320 | &nbsp;&nbsp;&nbsp; Charter Communications Operating LLC/Charter <br> Communications Operating Capital <br>6.384%—10/23/2035<br>| 5501 |
| **MULTI-UTILITIES—0.2%** | **MULTI-UTILITIES—0.2%** | **MULTI-UTILITIES—0.2%** |
| 3109 | &nbsp;&nbsp;&nbsp; WEC Energy Group, Inc. <br>5.625%—05/15/2056<sup>4</sup><br>| 3127 |
| **OIL, GAS & CONSUMABLE FUELS—2.0%** | **OIL, GAS & CONSUMABLE FUELS—2.0%** | **OIL, GAS & CONSUMABLE FUELS—2.0%** |
|  | Columbia Pipelines Operating Co. LLC |  |
| 2560 | &nbsp;&nbsp;&nbsp; 5.439%—02/15/2035<sup>1</sup> | 2620 |
| 995 | &nbsp;&nbsp;&nbsp; 5.962%—02/15/2055<sup>1</sup> | 989 |
| 3209 | &nbsp;&nbsp;&nbsp; 6.036%—11/15/2033<sup>1</sup> | 3428 |
|  |  | 7037 |
|  | ConocoPhillips Co. |  |
| 741 | &nbsp;&nbsp;&nbsp; 5.500%—01/15/2055 | 714 |
| 812 | &nbsp;&nbsp;&nbsp; 5.550%—03/15/2054 | 788 |
|  |  | 1502 |
| 3145 | &nbsp;&nbsp;&nbsp; Enbridge, Inc. <br>5.750%—07/15/2080<sup>4</sup><br>| 3186 |
| 3434 | &nbsp;&nbsp;&nbsp; Florida Gas Transmission Co. LLC <br>5.750%—07/15/2035<sup>1</sup><br>| 3558 |
| 3720 | &nbsp;&nbsp;&nbsp; Gulfstream Natural Gas System LLC <br>5.600%—07/23/2035<sup>1</sup><br>| 3807 |

---

------

⬤

------

**Harbor Core Plus Fund**

**PORTFOLIO OF INVESTMENTS—Continued**

------

*Principal Amount, Value and Cost in Thousands* 

---

| | | |
|:---|:---|:---|
| **Corporate Bonds & Notes—Continued** | **Corporate Bonds & Notes—Continued** | **Corporate Bonds & Notes—Continued** |
| **Principal**<br> **Amount**<br>|  | **Value** |
| **OIL, GAS & CONSUMABLE FUELS—Continued** | **OIL, GAS & CONSUMABLE FUELS—Continued** | **OIL, GAS & CONSUMABLE FUELS—Continued** |
| $1061 | &nbsp;&nbsp;&nbsp; Kinder Morgan, Inc. <br>5.850%—06/01/2035<br>| $1123 |
| 7629 | &nbsp;&nbsp;&nbsp; Occidental Petroleum Corp. <br>0.000%—10/10/2036<sup>5</sup><br>| 4597 |
|  |  | 24810 |
| **PASSENGER AIRLINES—0.3%** | **PASSENGER AIRLINES—0.3%** | **PASSENGER AIRLINES—0.3%** |
| 2587 | &nbsp;&nbsp;&nbsp; Air Canada Pass-Through Trust <br>3.300%—07/15/2031<sup>1</sup><br>| 2470 |
| 1149 | &nbsp;&nbsp;&nbsp; American Airlines Pass-Through Trust <br>3.600%—03/22/2029<br>| 1138 |
| 951 | &nbsp;&nbsp;&nbsp; United Airlines Pass-Through Trust <br>2.700%—11/01/2033<br>| 885 |
|  |  | 4493 |
| **PERSONAL CARE PRODUCTS—0.3%** | **PERSONAL CARE PRODUCTS—0.3%** | **PERSONAL CARE PRODUCTS—0.3%** |
| 3748 | &nbsp;&nbsp;&nbsp; Coty, Inc./HFC Prestige Products, Inc./HFC Prestige <br> International U.S. LLC <br>5.600%—01/15/2031<sup>1</sup><br>| 3797 |
| **PROFESSIONAL SERVICES—0.6%** | **PROFESSIONAL SERVICES—0.6%** | **PROFESSIONAL SERVICES—0.6%** |
| 3712 | &nbsp;&nbsp;&nbsp; KBR, Inc. <br>4.750%—09/30/2028<sup>1</sup><br>| 3679 |
| 3566 | &nbsp;&nbsp;&nbsp; Verisk Analytics, Inc. <br>5.250%—03/15/2035<br>| 3620 |
|  |  | 7299 |
| **ROAD & RAIL—0.2%** | **ROAD & RAIL—0.2%** | **ROAD & RAIL—0.2%** |
| 3800 | &nbsp;&nbsp;&nbsp; Norfolk Southern Corp. <br>4.050%—08/15/2052<br>| 2961 |
| **SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT—0.6%** | **SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT—0.6%** | **SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT—0.6%** |
| 1230 | &nbsp;&nbsp;&nbsp; KLA Corp. <br>5.650%—11/01/2034<br>| 1305 |
| 6500 | &nbsp;&nbsp;&nbsp; NXP BV/NXP Funding LLC/NXP USA, Inc. <br>2.500%—05/11/2031<br>| 5883 |
|  |  | 7188 |
| **SOFTWARE—0.4%** | **SOFTWARE—0.4%** | **SOFTWARE—0.4%** |
| 2202 | &nbsp;&nbsp;&nbsp; Constellation Software, Inc. <br>5.461%—02/16/2034<sup>1</sup><br>| 2216 |
| 3500 | &nbsp;&nbsp;&nbsp; Oracle Corp. <br>3.600%—04/01/2040<br>| 2587 |
|  |  | 4803 |
| **SPECIALTY RETAIL—0.9%** | **SPECIALTY RETAIL—0.9%** | **SPECIALTY RETAIL—0.9%** |
| 2059 | &nbsp;&nbsp;&nbsp; Ferguson Enterprises, Inc. <br>5.000%—10/03/2034<br>| 2072 |
| 2900 | &nbsp;&nbsp;&nbsp; Group 1 Automotive, Inc. <br>4.000%—08/15/2028<sup>1</sup><br>| 2838 |
| 2956 | &nbsp;&nbsp;&nbsp; Lithia Motors, Inc. <br>3.875%—06/01/2029<sup>1</sup><br>| 2861 |
| 1320 | &nbsp;&nbsp;&nbsp; Macy's Retail Holdings LLC <br>7.375%—08/01/2033<sup>1</sup><br>| 1396 |
| 1778 | &nbsp;&nbsp;&nbsp; Wayfair LLC <br>7.250%—10/31/2029<sup>1</sup><br>| 1860 |
|  |  | 11027 |

---

---

| | |
|:---|:---|
| **Corporate Bonds & Notes—Continued** | **Corporate Bonds & Notes—Continued** |
| **Principal**<br> **Amount**<br>| **Value** |
| **TRADING COMPANIES & DISTRIBUTORS—0.4%** | **TRADING COMPANIES & DISTRIBUTORS—0.4%** |
| $4800<br> &nbsp;&nbsp;&nbsp; Ferguson Finance PLC <br>4.650%—04/20/2032<sup>1</sup><br>| $4785 |
| &nbsp;&nbsp;&nbsp; **Total Corporate Bonds & Notes** <br>(Cost $380,013) | $383028 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
| **Mortgage Pass-Through—25.3%** | **Mortgage Pass-Through—25.3%** | **Mortgage Pass-Through—25.3%** |
|  | Federal Home Loan Mortgage Corp. |  |
| 4503 | &nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>2.000%—12/01/2051 | 3671 |
| 42996 | &nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>2.500%—07/01/2050-01/01/2054 | 37013 |
| 13211 | &nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>3.000%—02/01/2033-12/01/2046 | 12593 |
| 4910 | &nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>3.500%—07/01/2034-06/01/2048 | 4635 |
| 9574 | &nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>4.000%—04/01/2034-11/01/2048 | 9339 |
| 10486 | &nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>4.500%—12/01/2040-05/01/2053 | 10447 |
| 15523 | &nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>5.000%—08/01/2052-05/01/2054 | 15759 |
| 7663 | &nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>5.500%—02/01/2038-07/01/2054 | 7902 |
| 665 | &nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>6.000%—01/01/2029-05/01/2040 | 700 |
| 2 | &nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>6.154% (U.S. Treasury Yield Curve Rate T Note 1 <br> Year Constant Maturity Treasury + 2.250%) <br> 08/01/2035<sup>3</sup><br>| 2 |
|  |  | 102061 |
|  | Federal Home Loan Mortgage Corp. REMICS |  |
| 7225 | &nbsp;&nbsp;&nbsp; Series 5462 <br>2.000%—05/25/2037<br>| 485 |
| 2538 | &nbsp;&nbsp;&nbsp; Series 4628 Cl. CI <br>3.000%—05/15/2035<br>| 176 |
| 10223 | &nbsp;&nbsp;&nbsp; Series 5158 Cl. BI <br>3.000%—05/25/2035<br>| 786 |
| 3248 | &nbsp;&nbsp;&nbsp; Series 4118 <br>4.000%—10/15/2042<br>| 482 |
|  | &nbsp;&nbsp;&nbsp; Series 2266 Cl. F <br>4.272% (30 Day USD Average SOFR + 0.564%) <br> 11/15/2030<sup>3</sup><br>|  |
| 848 | &nbsp;&nbsp;&nbsp; Series 4989 Cl. FA <br>4.489% (30 Day USD Average SOFR + 0.464%) <br> 08/15/2040<sup>3</sup><br>| 836 |
| 775 | &nbsp;&nbsp;&nbsp; Series 4989 Cl. FB <br>4.489% (30 Day USD Average SOFR + 0.464%) <br> 10/15/2040<sup>3</sup><br>| 764 |
|  |  | 3529 |
|  | Federal Home Loan Mortgage Corp. STRIPS |  |
| 9086 | &nbsp;&nbsp;&nbsp; Series 414 Cl. C1 <br>1.500%—03/25/2037<br>| 488 |
| 12721 | &nbsp;&nbsp;&nbsp; Series 400 Cl. C14 <br>2.000%—07/25/2037<br>| 874 |
| 1341 | &nbsp;&nbsp;&nbsp; Series 304 Cl. C45 <br>3.000%—12/15/2027<br>| 20 |
|  |  | 1382 |
|  | &nbsp;&nbsp;&nbsp; Federal Home Loan Mortgage Corp. Structured <br> Pass-Through Certificates<br>|  |
| 4 | &nbsp;&nbsp;&nbsp; Series E3 Cl. A <br>4.572%—08/15/2032<sup>3</sup><br>| 4 |
| 31 | &nbsp;&nbsp;&nbsp; Series T-63 Cl. 1A1 <br>4.868% (Fed 12 Month Treasury Average Constant <br> Maturity Treasury + 1.200%) 02/25/2045<sup>3</sup><br>| 30 |
|  |  | 34 |
|  | Federal National Mortgage Association |  |
| 10240 | &nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>2.000%—02/01/2051-04/01/2051 | 8377 |
| 36411 | &nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>2.500%—04/01/2035-04/01/2052 | 32477 |

---

------

⬤

------

**Harbor Core Plus Fund**

**PORTFOLIO OF INVESTMENTS—Continued**

------

*Principal Amount, Value and Cost in Thousands* 

---

| | | |
|:---|:---|:---|
| **Mortgage Pass-Through—Continued** | **Mortgage Pass-Through—Continued** | **Mortgage Pass-Through—Continued** |
| **Principal**<br> **Amount**<br>|  | **Value** |
| $25074 | &nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>3.000%—06/01/2035-12/01/2050 | $22874 |
| 19646 | &nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>3.500%—12/01/2033-01/01/2051 | 18441 |
| 29824 | &nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>4.000%—03/01/2026-02/01/2055 | 29067 |
| 23320 | &nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>4.500%—03/01/2026-12/01/2050 | 23246 |
| 23419 | &nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>5.000%—10/01/2031-05/01/2054 | 23792 |
| 26 | &nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>5.428% (Fed 12 Month Treasury Average Constant <br> Maturity Treasury + 1.400%) 10/01/2040<sup>3</sup><br>| 26 |
| 6758 | &nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>5.500%—03/01/2027-09/01/2041 | 7011 |
| 1160 | &nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>6.000%—06/01/2027-06/01/2040 | 1221 |
| 210 | &nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>6.349% (USD IBOR Consumer Cash Fallback <br> 12-month + 1.693%) 08/01/2035<sup>3</sup><br>| 215 |
| 135 | &nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>6.405% (USD IBOR Consumer Cash Fallback <br> 12-month + 1.715%) 06/01/2035<sup>3</sup><br>| 139 |
| 12 | &nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>6.460% (USD IBOR Consumer Cash Fallback <br> 12-month + 1.710%) 05/01/2035<sup>3</sup><br>| 12 |
|  |  | 166898 |
|  | &nbsp;&nbsp;&nbsp; Federal National Mortgage Association Interest <br> STRIPS<br>|  |
| 13189 | &nbsp;&nbsp;&nbsp; Series 435 Cl. C1 <br>1.500%—03/25/2037<br>| 691 |
| 10385 | &nbsp;&nbsp;&nbsp; Series 427 Cl. C56 <br>2.000%—03/25/2036<br>| 608 |
| 4037 | &nbsp;&nbsp;&nbsp; Series 407 Cl. 7 <br>5.000%—03/25/2041<br>| 833 |
| 3429 | &nbsp;&nbsp;&nbsp; Series 435 Cl. C20 <br>5.000%—05/25/2053<br>| 613 |
|  |  | 2745 |
|  | Federal National Mortgage Association REMICS |  |
| 3565 | &nbsp;&nbsp;&nbsp; Series 2021-67 Cl. AI <br>0.845%—10/25/2051<sup>3</sup><br>| 210 |
| 14811 | &nbsp;&nbsp;&nbsp; Series 2020-81 Cl. AI <br>1.500%—11/25/2035<br>| 775 |
| 5842 | &nbsp;&nbsp;&nbsp; Series 2017-70 Cl. AS <br>1.792%—09/25/2057<sup>3</sup><br>| 378 |
| 3626 | &nbsp;&nbsp;&nbsp; Series 2011-98 Cl. ZL <br>3.500%—10/25/2041<br>| 3468 |
| 1893 | &nbsp;&nbsp;&nbsp; Series 2016-102 Cl. JI <br>3.500%—02/25/2046<br>| 69 |
| 4334 | &nbsp;&nbsp;&nbsp; Series 2020-27 Cl. IM <br>3.500%—05/25/2035<br>| 326 |
| 5300 | &nbsp;&nbsp;&nbsp; Series 2020-44 Cl. AI <br>4.000%—07/25/2050<br>| 1074 |
| 2419 | &nbsp;&nbsp;&nbsp; Series 2020-91 Cl. KI <br>4.000%—11/25/2043<br>| 326 |
| 905 | &nbsp;&nbsp;&nbsp; Series 2015-38 Cl. DF <br>4.449% (30 Day USD Average SOFR + 0.424%) <br> 06/25/2055<sup>3</sup><br>| 897 |
| 108 | &nbsp;&nbsp;&nbsp; Series 2003-25 Cl. KP <br>5.000%—04/25/2033<br>| 108 |
| 1603 | &nbsp;&nbsp;&nbsp; Series 2015-30 Cl. EI <br>5.000%—05/25/2045<br>| 210 |
| 1089 | &nbsp;&nbsp;&nbsp; Series 2016-33 Cl. NI <br>5.000%—07/25/2034<br>| 143 |
| 2814 | &nbsp;&nbsp;&nbsp; Series 2018-36 <br>5.000%—06/25/2048<br>| 398 |
| 5631 | &nbsp;&nbsp;&nbsp; Series 2019-49 Cl. IA <br>5.000%—05/25/2047<br>| 785 |
| 1317 | &nbsp;&nbsp;&nbsp; Series 2011-59 Cl. YI <br>6.000%—07/25/2041<br>| 193 |
| 11 | &nbsp;&nbsp;&nbsp; Series 2006-5 Cl. 3A2 <br>6.309%—05/25/2035<sup>3</sup><br>| 12 |
|  |  | 9372 |

---

---

| | | |
|:---|:---|:---|
| **Mortgage Pass-Through—Continued** | **Mortgage Pass-Through—Continued** | **Mortgage Pass-Through—Continued** |
| **Principal**<br> **Amount**<br>|  | **Value** |
| $65 | &nbsp;&nbsp;&nbsp; Federal National Mortgage Association REMICS <br> Trust <br>Series 2003-W1 Cl. 1A1 <br>4.686%—12/25/2042<sup>3</sup><br>| $66 |
|  | Government National Mortgage Association |  |
| 6132 | &nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>2.000%—02/20/2052 | 5107 |
| 6007 | &nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>2.500%—09/20/2051 | 5210 |
| 432 | &nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>3.000%—11/15/2049 | 391 |
| 6588 | &nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>4.000%—09/15/2049-08/20/2052 | 6308 |
| 907 | &nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>4.500%—02/20/2049 | 901 |
| 12 | &nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>4.750% (U.S. Treasury Yield Curve Rate T Note 1 <br> Year Constant Maturity Treasury + 1.500%) <br> 12/20/2026-11/20/2029<sup>3</sup><br>| 12 |
| 13315 | &nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>5.000%—08/15/2033-06/15/2050 | 13452 |
| 3 | &nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>5.375% (U.S. Treasury Yield Curve Rate T Note 1 <br> Year Constant Maturity Treasury + 1.500%) <br> 07/20/2027<sup>3</sup><br>| 3 |
| 58 | &nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>5.625% (U.S. Treasury Yield Curve Rate T Note 1 <br> Year Constant Maturity Treasury + 1.500%) <br> 02/20/2032<sup>3</sup><br>| 59 |
|  |  | 31443 |
|  | &nbsp;&nbsp;&nbsp; Government National Mortgage Association <br> REMICS<br>|  |
| 10937 | &nbsp;&nbsp;&nbsp; Series 2018-148 Cl. GS <br>2.308% (1 Month USD Term SOFR + 5.986%) <br> 02/16/2046<sup>3</sup><br>| 1046 |
| 2218 | &nbsp;&nbsp;&nbsp; Series 2010-47 Cl. SK <br>2.810% (1 Month USD Term SOFR + 6.486%) <br> 07/20/2037<sup>3</sup><br>| 55 |
| 2356 | &nbsp;&nbsp;&nbsp; Series 2007-41 Cl. SM <br>2.910% (1 Month USD Term SOFR + 6.586%) <br> 07/20/2037<sup>3</sup><br>| 214 |
| 3576 | &nbsp;&nbsp;&nbsp; Series 2020-4 Cl. DI <br>4.000%—03/20/2041<br>| 444 |
| 3158 | &nbsp;&nbsp;&nbsp; Series 2014-2 Cl. IC <br>5.000%—01/16/2044<br>| 553 |
| 422 | &nbsp;&nbsp;&nbsp; Series 2015-180 Cl. CI <br>5.000%—12/16/2045<br>| 57 |
| 449 | &nbsp;&nbsp;&nbsp; Series 2017-163 Cl. IE <br>5.500%—02/20/2039<br>| 71 |
| 2958 | &nbsp;&nbsp;&nbsp; Series 2020-146 Cl. IG <br>5.500%—09/20/2046<br>| 491 |
| 195 | &nbsp;&nbsp;&nbsp; Series 2016-136 Cl. IA <br>6.000%—10/20/2038<br>| 22 |
| 1065 | &nbsp;&nbsp;&nbsp; Series 2024-107 <br>6.500%—06/20/2054<br>| 181 |
|  |  | 3134 |
| &nbsp;&nbsp;&nbsp; **Total Mortgage Pass-Through** <br>(Cost $333,769) | &nbsp;&nbsp;&nbsp; **Total Mortgage Pass-Through** <br>(Cost $333,769) | 320664 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
| **U.S. Government Obligations—19.2%** | **U.S. Government Obligations—19.2%** | **U.S. Government Obligations—19.2%** |
|  | U.S. Treasury Bonds |  |
| 39017 | &nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>1.750%—08/15/2041 | 26256 |
| 20777 | &nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>2.000%—08/15/2051 | 11869 |
| 9447 | &nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>2.250%—02/15/2052 | 5711 |
| 4198 | &nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>2.375%—02/15/2042 | 3081 |
| 7428 | &nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>3.000%—08/15/2052 | 5299 |
| 13873 | &nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>3.375%—08/15/2042 | 11693 |
| 16561 | &nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>3.625%—05/15/2053 | 13336 |
| 13772 | &nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>3.875%—05/15/2043 | 12317 |
| 8726 | &nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>4.125%—08/15/2053 | 7690 |

---

------

⬤

------

**Harbor Core Plus Fund**

**PORTFOLIO OF INVESTMENTS—Continued**

------

*Principal Amount, Value and Cost in Thousands* 

---

| | | |
|:---|:---|:---|
| **U.S. Government Obligations—Continued** | **U.S. Government Obligations—Continued** | **U.S. Government Obligations—Continued** |
| **Principal**<br> **Amount**<br>|  | **Value** |
| $24440 | &nbsp;&nbsp;&nbsp; 4.250%—02/15/2054-08/15/2054 | $21990 |
| 12678 | &nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>4.500%—02/15/2044 | 12225 |
| 42157 | &nbsp;&nbsp;&nbsp; 4.625%—05/15/2044-02/15/2055 | 41074 |
| 9313 | &nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>4.750%—08/15/2055 | 9111 |
| 13664 | &nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>4.875%—08/15/2045 | 13745 |
|  |  | 195397 |
|  | U.S. Treasury Notes |  |
| 34509 | &nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>3.500%—11/30/2030 | 34070 |
| 5902 | &nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>3.625%—08/31/2030 | 5865 |
| 9116 | &nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>4.000%—11/15/2035 | 8930 |
|  |  | 48865 |
| &nbsp;&nbsp;&nbsp; **Total U.S. Government Obligations** <br>(Cost $275,351) | &nbsp;&nbsp;&nbsp; **Total U.S. Government Obligations** <br>(Cost $275,351) | 244262 |
| &nbsp;&nbsp;&nbsp; **TOTAL INVESTMENTS—98.7%** <br>(Cost $1,291,885) | &nbsp;&nbsp;&nbsp; **TOTAL INVESTMENTS—98.7%** <br>(Cost $1,291,885) | 1252294 |
| **CASH AND OTHER ASSETS, LESS LIABILITIES—1.3%** | **CASH AND OTHER ASSETS, LESS LIABILITIES—1.3%** | 16280 |
| **TOTAL NET ASSETS—100.0%** | **TOTAL NET ASSETS—100.0%** | $1268574 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

**FAIR VALUE MEASUREMENTS**

As of January 31, 2026, the investment in CIFC Funding Ltd. (as disclosed in the preceding Portfolio of Investments) was classified as Level 3 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.

------

x

Fair valued in accordance with the fair value pricing procedures applicable to the Funds.

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, 2026, the aggregate value of these securities was $412,392 or 33% of net assets.

Step coupon security; the stated rate represents the rate in effect as of January 31, 2026.

Variable or floating rate security; the stated rate represents the rate in effect as of January 31, 2026. 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.

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.

Zero coupon bond

CLO

Collateralized Loan Obligation

MTN

Medium Term Note

REMICS

Real Estate Mortgage Investment Conduits

STRIPS

Separate Trading of Registered Interest and Principal of Securities

The accompanying notes are an integral part of the Portfolios of Investments.

------

⬤

------

**Harbor Diversified International All Cap Fund**

**PORTFOLIO OF INVESTMENTS—January 31, 2026 (Unaudited)**

------

*Value and Cost in Thousands*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
| **COMMON STOCKS—97.3%** | **COMMON STOCKS—97.3%** | **COMMON STOCKS—97.3%** |
| **Shares** |  | **Value** |
| **AEROSPACE & DEFENSE—2.1%** | **AEROSPACE & DEFENSE—2.1%** | **AEROSPACE & DEFENSE—2.1%** |
| 226878 | BAE Systems PLC (United Kingdom) | $6159 |
| 651553 | Rolls-Royce Holdings PLC (United Kingdom) | 10892 |
|  |  | 17051 |
| **AUTOMOBILE COMPONENTS—0.6%** | **AUTOMOBILE COMPONENTS—0.6%** | **AUTOMOBILE COMPONENTS—0.6%** |
| 205200 | Bridgestone Corp. (Japan) | 4620 |
| **AUTOMOBILES—0.3%** | **AUTOMOBILES—0.3%** | **AUTOMOBILES—0.3%** |
| 13751 | Bayerische Motoren Werke AG (Germany) | 1416 |
| 425000 | Mitsubishi Motors Corp. (Japan) | 1045 |
|  |  | 2461 |
| **BANKS—16.1%** | **BANKS—16.1%** | **BANKS—16.1%** |
| 10071400 | Bank Central Asia Tbk. PT (Indonesia) | 4450 |
| 274415 | Bank of Ireland Group PLC (Ireland) | 5575 |
| 60131 | Bank of Nova Scotia (Canada) | 4496 |
| 1554293 | Barclays PLC (United Kingdom) | 10373 |
| 767625 | CaixaBank SA (Spain) | 10133 |
| 38085 | Capitec Bank Holdings Ltd. (South Africa) | 10226 |
| 65455 | Close Brothers Group PLC (United Kingdom)<sup>\*</sup> | 454 |
| 78761 | DBS Group Holdings Ltd. (Singapore) | 3661 |
| 166457 | DNB Bank ASA (Norway) | 4773 |
| 432300 | Grupo Financiero Banorte SAB de CV Class O (Mexico) | 4874 |
| 789489 | HDFC Bank Ltd. (India) | 7981 |
| 242600 | Japan Post Bank Co. Ltd. (Japan) | 4310 |
| 3314686 | Lloyds Banking Group PLC (United Kingdom) | 4950 |
| 184000 | Mitsubishi UFJ Financial Group, Inc. (Japan) | 3332 |
| 476071 | National Bank of Greece SA (Greece) | 8405 |
| 376000 | Resona Holdings, Inc. (Japan) | 4384 |
| 172433 | Shinhan Financial Group Co. Ltd. (South Korea) | 10078 |
| 309880 | Standard Chartered PLC (United Kingdom) | 7929 |
| 141600 | Sumitomo Mitsui Trust Group, Inc. (Japan) | 4729 |
| 179910 | Svenska Handelsbanken AB Class A (Sweden) | 2836 |
| 127813 | UniCredit SpA (Italy) | 11138 |
|  |  | 129087 |
| **BEVERAGES—2.9%** | **BEVERAGES—2.9%** | **BEVERAGES—2.9%** |
| 441200 | Arca Continental SAB de CV (Mexico) | 4970 |
| 274400 | Asahi Group Holdings Ltd. (Japan) | 2873 |
| 29963 | Carlsberg AS Class B (Denmark) | 4073 |
| 17836 | Coca-Cola Europacific Partners PLC (Netherlands) | 1636 |
| 441365 | Davide Campari-Milano NV (Italy) | 3146 |
| 174109 | Diageo PLC (United Kingdom) | 4006 |
| 120500 | Kirin Holdings Co. Ltd. (Japan) | 1873 |
| 158874 | Treasury Wine Estates Ltd. (Australia) | 592 |
|  |  | 23169 |
| **BIOTECHNOLOGY—0.4%** | **BIOTECHNOLOGY—0.4%** | **BIOTECHNOLOGY—0.4%** |
| 24812 | CSL Ltd. (Australia) | 3127 |
| **BROADLINE RETAIL—1.9%** | **BROADLINE RETAIL—1.9%** | **BROADLINE RETAIL—1.9%** |
| 172014 | Naspers Ltd. Class N (South Africa) | 10531 |
| 19400 | Seria Co. Ltd. (Japan) | 461 |
| 261711 | Vipshop Holdings Ltd. ADR (China)<sup>1</sup> | 4478 |
|  |  | 15470 |
| **BUILDING PRODUCTS—1.2%** | **BUILDING PRODUCTS—1.2%** | **BUILDING PRODUCTS—1.2%** |
| 117269 | Assa Abloy AB Class B (Sweden) | 4742 |
| 5793 | Geberit AG (Switzerland) | 4423 |
| 303446 | Reliance Worldwide Corp. Ltd. (Australia) | 789 |
|  |  | 9954 |
| **CAPITAL MARKETS—4.3%** | **CAPITAL MARKETS—4.3%** | **CAPITAL MARKETS—4.3%** |
| 241656 | 3i Group PLC (United Kingdom) | 11101 |
| 2861700 | B3 SA - Brasil Bolsa Balcao (Brazil) | 8782 |
| 17890 | Brookfield Asset Management Ltd. Class A (Canada) | 889 |
| 107754 | Brookfield Corp. (Canada) | 4912 |

---

---

| | | |
|:---|:---|:---|
| **COMMON STOCKS—Continued** | **COMMON STOCKS—Continued** | **COMMON STOCKS—Continued** |
| **Shares** |  | **Value** |
| **CAPITAL MARKETS—Continued** | **CAPITAL MARKETS—Continued** | **CAPITAL MARKETS—Continued** |
| 21644 | Hong Kong Exchanges & Clearing Ltd. (Hong Kong) | $1193 |
| 114676 | IG Group Holdings PLC (United Kingdom) | 2128 |
| 245452 | Jupiter Fund Management PLC (United Kingdom) | 631 |
| 397000 | Nomura Holdings, Inc. (Japan) | 3598 |
| 31897 | Rathbones Group PLC (United Kingdom) | 965 |
|  |  | 34199 |
| **CHEMICALS—0.1%** | **CHEMICALS—0.1%** | **CHEMICALS—0.1%** |
| 56100 | Air Water, Inc. (Japan) | 852 |
| **COMMERCIAL SERVICES & SUPPLIES—0.9%** | **COMMERCIAL SERVICES & SUPPLIES—0.9%** | **COMMERCIAL SERVICES & SUPPLIES—0.9%** |
| 17844 | Befesa SA (Germany)<sup>2</sup> | 654 |
| 28700 | Daiei Kankyo Co. Ltd. (Japan) | 757 |
| 57773 | Elis SA (France) | 1677 |
| 30600 | Secom Co. Ltd. (Japan) | 1121 |
| 705875 | Serco Group PLC (United Kingdom) | 2898 |
|  |  | 7107 |
| **CONSTRUCTION & ENGINEERING—1.2%** | **CONSTRUCTION & ENGINEERING—1.2%** | **CONSTRUCTION & ENGINEERING—1.2%** |
| 60590 | AtkinsRealis Group, Inc. (Canada) | 4252 |
| 25400 | Kinden Corp. (Japan) | 1124 |
| 120300 | Obayashi Corp. (Japan) | 2716 |
| 16455 | Taisei Corp. (Japan) | 1641 |
|  |  | 9733 |
| **CONSTRUCTION MATERIALS—1.7%** | **CONSTRUCTION MATERIALS—1.7%** | **CONSTRUCTION MATERIALS—1.7%** |
| 419721 | Cemex SAB de CV ADR (Mexico)<sup>1</sup> | 5238 |
| 28086 | Holcim AG (Switzerland) | 2895 |
| 73300 | Taiheiyo Cement Corp. (Japan) | 2014 |
| 110984 | Wienerberger AG (Austria) | 3669 |
|  |  | 13816 |
| **CONSUMER STAPLES DISTRIBUTION & RETAIL—1.3%** | **CONSUMER STAPLES DISTRIBUTION & RETAIL—1.3%** | **CONSUMER STAPLES DISTRIBUTION & RETAIL—1.3%** |
| 43411 | Alimentation Couche-Tard, Inc. (Canada) | 2259 |
| 75677 | Koninklijke Ahold Delhaize NV (Netherlands) | 2959 |
| 82326 | Loblaw Cos. Ltd. (Canada) | 3704 |
| 91000 | Seven & i Holdings Co. Ltd. (Japan) | 1303 |
| 140921 | X5 Retail Group NV GDR (Russia)<sup>\*,1</sup> | — <br><sup>x</sup><br>|
|  |  | 10225 |
| **CONTAINERS & PACKAGING—0.4%** | **CONTAINERS & PACKAGING—0.4%** | **CONTAINERS & PACKAGING—0.4%** |
| 825991 | Orora Ltd. (Australia) | 1173 |
| 65100 | Toyo Seikan Group Holdings Ltd. (Japan) | 1633 |
|  |  | 2806 |
| **DISTRIBUTORS—0.1%** | **DISTRIBUTORS—0.1%** | **DISTRIBUTORS—0.1%** |
| 93482 | Inchcape PLC (United Kingdom) | 1045 |
| **DIVERSIFIED CONSUMER SERVICES—0.6%** | **DIVERSIFIED CONSUMER SERVICES—0.6%** | **DIVERSIFIED CONSUMER SERVICES—0.6%** |
| 145413 | Laureate Education, Inc. (United States)<sup>\*</sup> | 4988 |
| **DIVERSIFIED TELECOMMUNICATION SERVICES—0.8%** | **DIVERSIFIED TELECOMMUNICATION SERVICES—0.8%** | **DIVERSIFIED TELECOMMUNICATION SERVICES—0.8%** |
| 6383400 | NTT, Inc. (Japan) | 6415 |
| **ELECTRIC UTILITIES—0.4%** | **ELECTRIC UTILITIES—0.4%** | **ELECTRIC UTILITIES—0.4%** |
| 156163 | Iberdrola SA (Spain) | 3511 |
| 2156 | Iberdrola SA (Spain)<sup>\*</sup> | 48 <br><sup>x</sup><br>|
|  |  | 3559 |
| **ELECTRICAL EQUIPMENT—2.4%** | **ELECTRICAL EQUIPMENT—2.4%** | **ELECTRICAL EQUIPMENT—2.4%** |
| 181922 | Havells India Ltd. (India) | 2539 |
| 15430 | Legrand SA (France) | 2464 |
| 86000 | Mitsubishi Electric Corp. (Japan) | 2689 |
| 24811 | Schneider Electric SE (France) | 7113 |
| 150322 | Vestas Wind Systems AS (Denmark) | 4556 |
|  |  | 19361 |

---

------

⬤

------

**Harbor Diversified International All Cap Fund**

**PORTFOLIO OF INVESTMENTS—Continued**

------

*Value and Cost in Thousands* 

---

| | | |
|:---|:---|:---|
| **COMMON STOCKS—Continued** | **COMMON STOCKS—Continued** | **COMMON STOCKS—Continued** |
| **Shares** |  | **Value** |
| **ELECTRONIC EQUIPMENT, INSTRUMENTS & COMPONENTS—0.8%** | **ELECTRONIC EQUIPMENT, INSTRUMENTS & COMPONENTS—0.8%** | **ELECTRONIC EQUIPMENT, INSTRUMENTS & COMPONENTS—0.8%** |
| 127315 | Delta Electronics, Inc. (Taiwan) | $4859 |
| 64300 | Murata Manufacturing Co. Ltd. (Japan) | 1306 |
|  |  | 6165 |
| **ENERGY EQUIPMENT & SERVICES—0.3%** | **ENERGY EQUIPMENT & SERVICES—0.3%** | **ENERGY EQUIPMENT & SERVICES—0.3%** |
| 369177 | John Wood Group PLC (United Kingdom)<sup>\*</sup> | 131 |
| 61284 | Technip Energies NV (France) | 2402 |
|  |  | 2533 |
| **ENTERTAINMENT—0.5%** | **ENTERTAINMENT—0.5%** | **ENTERTAINMENT—0.5%** |
| 13500 | Nintendo Co. Ltd. (Japan) | 836 |
| 205315 | Tencent Music Entertainment Group ADR (China)<sup>1</sup> | 3445 |
|  |  | 4281 |
| **FINANCIAL SERVICES—0.3%** | **FINANCIAL SERVICES—0.3%** | **FINANCIAL SERVICES—0.3%** |
| 99951 | Edenred SE (France) | 2094 |
| **FOOD PRODUCTS—2.5%** | **FOOD PRODUCTS—2.5%** | **FOOD PRODUCTS—2.5%** |
| 809840 | AVI Ltd. (South Africa) | 5353 |
| 37661 | Bakkafrost P (Norway) | 1819 |
| 715856 | Marico Ltd. (India) | 5692 |
| 29000 | Megmilk Snow Brand Co. Ltd. (Japan) | 632 |
| 37300 | NH Foods Ltd. (Japan) | 1694 |
| 39548 | Salmar ASA (Norway) | 2356 |
| 21800 | Toyo Suisan Kaisha Ltd. (Japan) | 1557 |
| 12996 | Viscofan SA (Spain) | 872 |
|  |  | 19975 |
| **GROUND TRANSPORTATION—0.7%** | **GROUND TRANSPORTATION—0.7%** | **GROUND TRANSPORTATION—0.7%** |
| 29052 | Canadian Pacific Kansas City Ltd. (Canada) | 2159 |
| 73800 | East Japan Railway Co. (Japan) | 1853 |
| 76400 | West Japan Railway Co. (Japan) | 1561 |
|  |  | 5573 |
| **HEALTH CARE EQUIPMENT & SUPPLIES—2.1%** | **HEALTH CARE EQUIPMENT & SUPPLIES—2.1%** | **HEALTH CARE EQUIPMENT & SUPPLIES—2.1%** |
| 7617 | Alcon AG (Switzerland) | 616 |
| 10758 | BioMerieux (France) | 1249 |
| 31512 | Coloplast AS Class B (Denmark) | 2686 |
| 719005 | Convatec Group PLC (United Kingdom)<sup>2</sup> | 2268 |
| 63700 | Demant AS (Denmark)<sup>\*</sup> | 2230 |
| 10205 | EssilorLuxottica SA (France) | 3120 |
| 331500 | Olympus Corp. (Japan) | 3960 |
| 40800 | Sysmex Corp. (Japan) | 386 |
|  |  | 16515 |
| **HEALTH CARE PROVIDERS & SERVICES—0.5%** | **HEALTH CARE PROVIDERS & SERVICES—0.5%** | **HEALTH CARE PROVIDERS & SERVICES—0.5%** |
| 56584 | Amplifon SpA (Italy) | 912 |
| 37738 | Fresenius Medical Care AG (Germany) | 1699 |
| 65200 | Ship Healthcare Holdings, Inc. (Japan) | 1075 |
|  |  | 3686 |
| **HOTELS, RESTAURANTS & LEISURE—2.0%** | **HOTELS, RESTAURANTS & LEISURE—2.0%** | **HOTELS, RESTAURANTS & LEISURE—2.0%** |
| 28646 | Aristocrat Leisure Ltd. (Australia) | 1064 |
| 151549 | Compass Group PLC (United Kingdom) | 4544 |
| 28531 | Domino's Pizza Enterprises Ltd. (Australia) | 452 |
| 321304 | Entain PLC (United Kingdom) | 2666 |
| 257000 | Galaxy Entertainment Group Ltd. (Hong Kong) | 1306 |
| 20535 | InterContinental Hotels Group PLC (United Kingdom) | 2774 |
| 800615 | SSP Group PLC (United Kingdom) | 2005 |
| 26690 | Whitbread PLC (United Kingdom) | 996 |
|  |  | 15807 |
| **HOUSEHOLD DURABLES—1.5%** | **HOUSEHOLD DURABLES—1.5%** | **HOUSEHOLD DURABLES—1.5%** |
| 215861 | Barratt Redrow PLC (United Kingdom) | 1149 |
| 26162 | GN Store Nord AS (Denmark)<sup>\*</sup> | 459 |
| 504115 | Midea Group Co. Ltd. Class A (China) | 5630 |

---

---

| | | |
|:---|:---|:---|
| **COMMON STOCKS—Continued** | **COMMON STOCKS—Continued** | **COMMON STOCKS—Continued** |
| **Shares** |  | **Value** |
| **HOUSEHOLD DURABLES—Continued** | **HOUSEHOLD DURABLES—Continued** | **HOUSEHOLD DURABLES—Continued** |
| 95700 | Nikon Corp. (Japan) | $1205 |
| 162000 | Sony Group Corp. (Japan) | 3572 |
|  |  | 12015 |
| **HOUSEHOLD PRODUCTS—0.6%** | **HOUSEHOLD PRODUCTS—0.6%** | **HOUSEHOLD PRODUCTS—0.6%** |
| 54472 | Reckitt Benckiser Group PLC (United Kingdom) | 4545 |
| **INDUSTRIAL CONGLOMERATES—1.0%** | **INDUSTRIAL CONGLOMERATES—1.0%** | **INDUSTRIAL CONGLOMERATES—1.0%** |
| 169500 | CK Hutchison Holdings Ltd. (Hong Kong) | 1367 |
| 34473 | DCC PLC (United Kingdom) | 2185 |
| 44800 | Hitachi Ltd. (Japan) | 1554 |
| 33100 | Jardine Matheson Holdings Ltd. (Hong Kong) | 2412 |
| 84000 | Swire Pacific Ltd. Class A (Hong Kong) | 811 |
|  |  | 8329 |
| **INSURANCE—5.8%** | **INSURANCE—5.8%** | **INSURANCE—5.8%** |
| 50042 | Admiral Group PLC (United Kingdom) | 1883 |
| 1475000 | AIA Group Ltd. (Hong Kong) | 17018 |
| 3073 | Fairfax Financial Holdings Ltd. (Canada) | 5071 |
| 9531 | Hannover Rueck SE (Germany) | 2695 |
| 125701 | Hiscox Ltd. (United Kingdom) | 2557 |
| 186500 | Japan Post Holdings Co. Ltd. (Japan) | 2244 |
| 282183 | Prudential PLC (United Kingdom) | 4635 |
| 142478 | QBE Insurance Group Ltd. (Australia) | 1953 |
| 307147 | Sampo OYJ Class A (Finland) | 3425 |
| 123300 | Tokio Marine Holdings, Inc. (Japan) | 4596 |
|  |  | 46077 |
| **INTERACTIVE MEDIA & SERVICES—0.6%** | **INTERACTIVE MEDIA & SERVICES—0.6%** | **INTERACTIVE MEDIA & SERVICES—0.6%** |
| 225350 | Autotrader Group PLC (United Kingdom)<sup>2</sup> | 1661 |
| 259586 | Rightmove PLC (United Kingdom) | 1757 |
| 10537 | Scout24 SE (Germany)<sup>2</sup> | 1049 |
|  |  | 4467 |
| **IT SERVICES—0.4%** | **IT SERVICES—0.4%** | **IT SERVICES—0.4%** |
| 15906 | Alten SA (France) | 1559 |
| 38900 | NEC Corp. (Japan) | 1319 |
|  |  | 2878 |
| **LEISURE PRODUCTS—0.3%** | **LEISURE PRODUCTS—0.3%** | **LEISURE PRODUCTS—0.3%** |
| 77700 | Sega Sammy Holdings, Inc. (Japan) | 1219 |
| 60781 | Spin Master Corp. (Canada)<sup>2</sup> | 830 |
|  |  | 2049 |
| **LIFE SCIENCES TOOLS & SERVICES—0.4%** | **LIFE SCIENCES TOOLS & SERVICES—0.4%** | **LIFE SCIENCES TOOLS & SERVICES—0.4%** |
| 44025 | Eurofins Scientific SE (France) | 3561 |
| **MACHINERY—4.9%** | **MACHINERY—4.9%** | **MACHINERY—4.9%** |
| 41724 | Alfa Laval AB (Sweden) | 2417 |
| 25838 | ANDRITZ AG (Austria) | 2236 |
| 60383 | ATS Corp. (Canada)<sup>\*</sup> | 1716 |
| 251279 | CNH Industrial NV (United States) | 2704 |
| 93887 | Fluidra SA (Spain) | 2731 |
| 32105 | GEA Group AG (Germany) | 2296 |
| 93700 | IHI Corp. (Japan) | 2168 |
| 43900 | Komatsu Ltd. (Japan) | 1680 |
| 69500 | Kubota Corp. (Japan) | 1065 |
| 275522 | Rotork PLC (United Kingdom) | 1337 |
| 78940 | Sandvik AB (Sweden) | 3117 |
| 2248412 | Sany Heavy Industry Co. Ltd. Class A (China) | 7093 |
| 14562 | Stabilus SE (Germany) | 334 |
| 354000 | Techtronic Industries Co. Ltd. (Hong Kong) | 4833 |
| 5200 | Toyota Industries Corp. (Japan) | 665 |
| 68377 | Wartsila OYJ Abp (Finland) | 2772 |
|  |  | 39164 |

---

------

⬤

------

**Harbor Diversified International All Cap Fund**

**PORTFOLIO OF INVESTMENTS—Continued**

------

*Value and Cost in Thousands* 

---

| | | |
|:---|:---|:---|
| **COMMON STOCKS—Continued** | **COMMON STOCKS—Continued** | **COMMON STOCKS—Continued** |
| **Shares** |  | **Value** |
| **MARINE TRANSPORTATION—0.1%** | **MARINE TRANSPORTATION—0.1%** | **MARINE TRANSPORTATION—0.1%** |
| 110851 | Irish Continental Group PLC (Ireland) | $839 |
| **MEDIA—0.7%** | **MEDIA—0.7%** | **MEDIA—0.7%** |
| 40826 | Future PLC (United Kingdom) | 302 |
| 74300 | Hakuhodo DY Holdings, Inc. (Japan) | 555 |
| 883519 | ITV PLC (United Kingdom) | 985 |
| 70320 | Nippon Television Holdings, Inc. (Japan) | 1690 |
| 43100 | TBS Holdings, Inc. (Japan) | 1671 |
| 76496 | WPP PLC (United Kingdom) | 318 |
|  |  | 5521 |
| **METALS & MINING—7.2%** | **METALS & MINING—7.2%** | **METALS & MINING—7.2%** |
| 38989 | Acerinox SA (Spain) | 579 |
| 101755 | ArcelorMittal SA (France) | 5526 |
| 127946 | Barrick Mining Corp. (Canada) | 5848 |
| 117945 | BHP Group Ltd. (Australia) | 4062 |
| 212812 | Deterra Royalties Ltd. (Australia) | 621 |
| 38500 | Dowa Holdings Co. Ltd. (Japan) | 2280 |
| 137600 | First Quantum Minerals Ltd. (Canada)<sup>\*</sup> | 3890 |
| 15857 | Franco-Nevada Corp. (Canada) | 3712 |
| 1075574 | Glencore PLC (United Kingdom)<sup>\*</sup> | 7333 |
| 11259 | Newmont Corp. CDI (Australia)<sup>1</sup> | 1271 |
| 4400 | OSAKA Titanium Technologies Co. Ltd. (Japan) | 66 |
| 320373 | Severstal PAO GDR (Russia)<sup>\*,1</sup> | — <br><sup>x</sup><br>|
| 47293 | Southern Copper Corp. (Peru) | 9001 |
| 109800 | Sumitomo Metal Mining Co. Ltd. (Japan) | 6205 |
| 79053 | Valterra Platinum Ltd. (South Africa) | 7103 |
|  |  | 57497 |
| **OIL, GAS & CONSUMABLE FUELS—3.7%** | **OIL, GAS & CONSUMABLE FUELS—3.7%** | **OIL, GAS & CONSUMABLE FUELS—3.7%** |
| 1222546 | BP PLC (United Kingdom) | 7752 |
| 89436 | Canadian Natural Resources Ltd. (Canada) | 3325 |
| 66566 | Equinor ASA (Norway) | 1789 |
| 179300 | Idemitsu Kosan Co. Ltd. (Japan) | 1521 |
| 55300 | Inpex Corp. (Japan) | 1239 |
| 87968 | PrairieSky Royalty Ltd. (Canada) | 1915 |
| 690809 | PRIO SA (Brazil)<sup>\*</sup> | 6693 |
| 464842 | Santos Ltd. (Australia) | 2267 |
| 249905 | Secure Waste Infrastructure Corp. (Canada) | 3225 |
|  |  | 29726 |
| **PAPER & FOREST PRODUCTS—0.2%** | **PAPER & FOREST PRODUCTS—0.2%** | **PAPER & FOREST PRODUCTS—0.2%** |
| 22844 | Stella-Jones, Inc. (Canada) | 1532 |
| **PASSENGER AIRLINES—1.5%** | **PASSENGER AIRLINES—1.5%** | **PASSENGER AIRLINES—1.5%** |
| 47166 | Copa Holdings SA Class A (Panama) | 6433 |
| 259147 | easyJet PLC (United Kingdom) | 1696 |
| 40245 | Exchange Income Corp. (Canada) | 2808 |
| 152298 | Qantas Airways Ltd. (Australia) | 1065 |
|  |  | 12002 |
| **PERSONAL CARE PRODUCTS—0.2%** | **PERSONAL CARE PRODUCTS—0.2%** | **PERSONAL CARE PRODUCTS—0.2%** |
| 113200 | Shiseido Co. Ltd. (Japan) | 1933 |
| **PHARMACEUTICALS—1.1%** | **PHARMACEUTICALS—1.1%** | **PHARMACEUTICALS—1.1%** |
| 129567 | Novo Nordisk AS Class B (Denmark) | 7693 |
| 51100 | Tsumura & Co. (Japan) | 1351 |
|  |  | 9044 |
| **PROFESSIONAL SERVICES—1.7%** | **PROFESSIONAL SERVICES—1.7%** | **PROFESSIONAL SERVICES—1.7%** |
| 68944 | ALS Ltd. (Australia) | 1176 |
| 63680 | Experian PLC (United Kingdom) | 2412 |
| 50286 | Intertek Group PLC (United Kingdom) | 3085 |
| 434108 | IPH Ltd. (Australia) | 1126 |
| 242077 | Pagegroup PLC (United Kingdom) | 684 |
| 18289 | Randstad NV (Netherlands) | 654 |

---

---

| | | |
|:---|:---|:---|
| **COMMON STOCKS—Continued** | **COMMON STOCKS—Continued** | **COMMON STOCKS—Continued** |
| **Shares** |  | **Value** |
| **PROFESSIONAL SERVICES—Continued** | **PROFESSIONAL SERVICES—Continued** | **PROFESSIONAL SERVICES—Continued** |
| 134659 | RELX PLC (United Kingdom) | $4774 |
|  |  | 13911 |
| **REAL ESTATE MANAGEMENT & DEVELOPMENT—1.2%** | **REAL ESTATE MANAGEMENT & DEVELOPMENT—1.2%** | **REAL ESTATE MANAGEMENT & DEVELOPMENT—1.2%** |
| 1247554 | China Resources Land Ltd. (China) | 4886 |
| 95600 | Daiwa House Industry Co. Ltd. (Japan) | 3257 |
| 255972 | Henderson Land Development Co. Ltd. (Hong Kong) | 1018 |
|  |  | 9161 |
| **SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT—5.6%** | **SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT—5.6%** | **SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT—5.6%** |
| 8191 | ASML Holding NV (Netherlands) | 11745 |
| 50200 | ASMPT Ltd. (Hong Kong) | 669 |
| 116000 | MediaTek, Inc. (Taiwan) | 6435 |
| 465084 | Taiwan Semiconductor Manufacturing Co. Ltd. (Taiwan) | 25717 |
|  |  | 44566 |
| **SOFTWARE—0.5%** | **SOFTWARE—0.5%** | **SOFTWARE—0.5%** |
| 1101 | Constellation Software, Inc. (Canada) | 2032 |
| 33349 | Dassault Systemes SE (France) | 917 |
| 5818 | Lumine Group, Inc. (Canada)<sup>\*</sup> | 96 |
| 12700 | Oracle Corp. (Japan) | 859 |
|  |  | 3904 |
| **SPECIALTY RETAIL—1.2%** | **SPECIALTY RETAIL—1.2%** | **SPECIALTY RETAIL—1.2%** |
| 97400 | ABC-Mart, Inc. (Japan) | 1561 |
| 52600 | Nitori Holdings Co. Ltd. (Japan) | 899 |
| 304607 | Pets at Home Group PLC (United Kingdom) | 853 |
| 227100 | USS Co. Ltd. (Japan) | 2509 |
| 131885 | WH Smith PLC (United Kingdom) | 1218 |
| 287500 | ZOZO, Inc. (Japan) | 2375 |
|  |  | 9415 |
| **TECHNOLOGY HARDWARE, STORAGE & PERIPHERALS—1.6%** | **TECHNOLOGY HARDWARE, STORAGE & PERIPHERALS—1.6%** | **TECHNOLOGY HARDWARE, STORAGE & PERIPHERALS—1.6%** |
| 115430 | Samsung Electronics Co. Ltd. (South Korea) | 12752 |
| **TEXTILES, APPAREL & LUXURY GOODS—2.5%** | **TEXTILES, APPAREL & LUXURY GOODS—2.5%** | **TEXTILES, APPAREL & LUXURY GOODS—2.5%** |
| 15945 | adidas AG (Germany) | 2827 |
| 30868 | Cie Financiere Richemont SA Class A (Switzerland) | 5992 |
| 40895 | Gildan Activewear, Inc. (Canada) | 2657 |
| 658000 | Li Ning Co. Ltd. (China) | 1721 |
| 1291200 | Samsonite Group SA (Hong Kong)<sup>2</sup> | 3280 |
| 456500 | Shenzhou International Group Holdings Ltd. (China) | 3631 |
|  |  | 20108 |
| **TRADING COMPANIES & DISTRIBUTORS—2.0%** | **TRADING COMPANIES & DISTRIBUTORS—2.0%** | **TRADING COMPANIES & DISTRIBUTORS—2.0%** |
| 366800 | BOC Aviation Ltd. (China)<sup>2</sup> | 3800 |
| 39171 | Brenntag SE (Germany) | 2383 |
| 103590 | Bunzl PLC (United Kingdom) | 2905 |
| 37799 | Finning International, Inc. (Canada) | 2370 |
| 54100 | Mitsubishi Corp. (Japan) | 1437 |
| 47477 | Rexel SA (France) | 1990 |
| 45888 | Richelieu Hardware Ltd. (Canada) | 1372 |
|  |  | 16257 |
| **TRANSPORTATION INFRASTRUCTURE—0.1%** | **TRANSPORTATION INFRASTRUCTURE—0.1%** | **TRANSPORTATION INFRASTRUCTURE—0.1%** |
| 125400 | Mitsubishi Logistics Corp. (Japan) | 1071 |
| **WIRELESS TELECOMMUNICATION SERVICES—1.3%** | **WIRELESS TELECOMMUNICATION SERVICES—1.3%** | **WIRELESS TELECOMMUNICATION SERVICES—1.3%** |
| 764898 | Empresa Nacional de Telecomunicaciones SA (Chile) | 4107 |
| 98842 | Millicom International Cellular SA (Sweden) | 6032 |
|  |  | 10139 |
| &nbsp;&nbsp;&nbsp;&nbsp; **TOTAL COMMON STOCKS** <br>(Cost $459,171) | &nbsp;&nbsp;&nbsp;&nbsp; **TOTAL COMMON STOCKS** <br>(Cost $459,171) | 778137 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

------

⬤

------

**Harbor Diversified International All Cap Fund**

**PORTFOLIO OF INVESTMENTS—Continued**

------

*Value and Cost in Thousands* 

---

| | | |
|:---|:---|:---|
| **PREFERRED STOCKS—0.6%** | **PREFERRED STOCKS—0.6%** | **PREFERRED STOCKS—0.6%** |
| **Shares** |  | **Value** |
| &nbsp;&nbsp;&nbsp; (Cost $2,423) | &nbsp;&nbsp;&nbsp; (Cost $2,423) | &nbsp;&nbsp;&nbsp; (Cost $2,423) |
| **BEVERAGES—0.6%** | **BEVERAGES—0.6%** | **BEVERAGES—0.6%** |
| 944086 | Embotelladora Andina SA (Chile) | $4959 |
| &nbsp;&nbsp;&nbsp;&nbsp; **TOTAL INVESTMENTS—97.9%** <br>(Cost $461,594) | &nbsp;&nbsp;&nbsp;&nbsp; **TOTAL INVESTMENTS—97.9%** <br>(Cost $461,594) | 783096 |
| **CASH AND OTHER ASSETS, LESS LIABILITIES—2.1%** | **CASH AND OTHER ASSETS, LESS LIABILITIES—2.1%** | 16701 |
| **TOTAL NET ASSETS—100%** | **TOTAL NET ASSETS—100%** | $799797 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **RIGHTS/WARRANTS** | **RIGHTS/WARRANTS** | **RIGHTS/WARRANTS** | **RIGHTS/WARRANTS** | **RIGHTS/WARRANTS** | **RIGHTS/WARRANTS** |
| **Description** | **Shares** | **Strike Price** | **Expiration Date** | **Cost** <br>**(000s)**<br>| **Value** <br>**(000s)**<br>|
| Constellation Software, Inc. (Canada)\* | 3982 | CAD 0.00 | &nbsp;&nbsp; 03/31/2040 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $—<sup>x</sup> <br>|

---

**FAIR VALUE MEASUREMENTS**

The following table summarizes the Fund's investments as of January 31, 2026 based on the inputs used to value them.

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Asset Category** | **Quoted Prices** <br>**Level 1** <br>**(000s)**<br>| **Other Significant** <br>**Observable Inputs** <br>**Level 2** <br>**(000s)**<br>| **Significant** <br>**Unobservable** <br>**Inputs** <br>**Level 3** <br>**(000s)**<br>| **Total** <br>**(000s)**<br>|
| Common Stocks |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Africa | &nbsp;&nbsp; $— | &nbsp;&nbsp; $33213 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $33213 |
| &nbsp;&nbsp;&nbsp; Europe | &nbsp;&nbsp; 7668 | &nbsp;&nbsp; 318787 | &nbsp;&nbsp; — | &nbsp;&nbsp; 326455 |
| &nbsp;&nbsp;&nbsp; Latin America | &nbsp;&nbsp; 45991 | &nbsp;&nbsp; 4107 | &nbsp;&nbsp; — | &nbsp;&nbsp; 50098 |
| &nbsp;&nbsp;&nbsp; Middle East/Central Asia | &nbsp;&nbsp; — | &nbsp;&nbsp; 39042 | &nbsp;&nbsp; — | &nbsp;&nbsp; 39042 |
| &nbsp;&nbsp;&nbsp; North America | &nbsp;&nbsp; 72762 | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; 72762 |
| &nbsp;&nbsp;&nbsp; Pacific Basin | &nbsp;&nbsp; 7923 | &nbsp;&nbsp; 248644 | &nbsp;&nbsp; — | &nbsp;&nbsp; 256567 |
| Preferred Stocks |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Latin America | &nbsp;&nbsp; — | &nbsp;&nbsp; 4959 | &nbsp;&nbsp; — | &nbsp;&nbsp; 4959 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total Investments in Securities | &nbsp;&nbsp; $134344 | &nbsp;&nbsp; $648752 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $783096 |
| Financial Derivative Instruments - Assets |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Rights/Warrants | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total Investments | &nbsp;&nbsp; $134344 | &nbsp;&nbsp; $648752 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $783096 |

---

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 Portfolio of Investments.

The following is a rollforward of the Fund's Level 3 investments during the period ended January 31, 2026. 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** <br>**Description**<br>| **Beginning** <br>**Balance** <br>**as of** <br>**11/01/2025** <br>**(000s)**<br>| **Purchases** <br>**(000s)**<br>| **Sales** <br>**(000s)**<br>| **Discount/** <br>**(Premium)** <br>**(000s)**<br>| **Total** <br>**Realized** <br>**Gain/(Loss)** <br>**(000s)**<br>| **Change in** <br>**Unrealized** <br>**Appreciation/** <br>**(Depreciation)** <br>**(000s)**<br>| **Transfers** <br>**Into** <br>**Level 3** <br>**(000s)**<br>| **Transfers** <br>**Out of** <br>**Level 3**<sup>h</sup> <br>**(000s)**<br>| **Ending** <br>**Balance** <br>**as of** <br>**01/31/2026** <br>**(000s)**<br>| **Unrealized** <br>**Gain/(Loss)** <br>**as of** <br>**01/31/2026** <br>**(000s)**<br>|
| Common Stock | $— | $— | $(35) | $— | $(196) | $362 | $— | $(131) | $— | $(11174) |

---

------

⬤

------

**Harbor Diversified International All Cap 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** <br>**as of 01/31/2026** <br>**(000s)**<br>| **Valuation** <br>**Technique**<br>| **Unobservable** <br>**Input(s)**<br>| **Input** <br>**Value(s)**<br>|
| Investments in Securities |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Common Stocks |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Severstal PAO GDR (Russia)\* | &nbsp;&nbsp; $— | Market Approach | Estimated Recovery Value | $0.00 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; X5 Retail Group NV GDR (Russia)\* | &nbsp;&nbsp; — | Market Approach | Estimated Recovery Value | $0.00 |
|  | &nbsp;&nbsp; $— |  |  |  |

---

------

\*

Non-income producing security

x

Fair valued in accordance with the fair value pricing procedures applicable to the Funds.

h

Transferred into Level 3 due to the unavailability of observable market data for pricing or transferred out of Level 3 due to availability of observable market data for pricing.

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.

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, 2026, the aggregate value of these securities was $13,542 or 2% of net assets.

CAD

Canadian Dollar

The accompanying notes are an integral part of the Portfolios of Investments.

------

⬤

------

**Harbor International Fund**

**PORTFOLIO OF INVESTMENTS—January 31, 2026 (Unaudited)**

------

*Value and Cost in Thousands*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
| **COMMON STOCKS—98.6%** | **COMMON STOCKS—98.6%** | **COMMON STOCKS—98.6%** |
| **Shares** |  | **Value** |
| **AEROSPACE & DEFENSE—3.3%** | **AEROSPACE & DEFENSE—3.3%** | **AEROSPACE & DEFENSE—3.3%** |
| 1733661 | BAE Systems PLC (United Kingdom) | $47064 |
| 4965139 | Rolls-Royce Holdings PLC (United Kingdom) | 83002 |
|  |  | 130066 |
| **AUTOMOBILE COMPONENTS—0.9%** | **AUTOMOBILE COMPONENTS—0.9%** | **AUTOMOBILE COMPONENTS—0.9%** |
| 1541000 | Bridgestone Corp. (Japan) | 34694 |
| **AUTOMOBILES—0.5%** | **AUTOMOBILES—0.5%** | **AUTOMOBILES—0.5%** |
| 102262 | Bayerische Motoren Werke AG (Germany) | 10531 |
| 3090000 | Mitsubishi Motors Corp. (Japan) | 7596 |
|  |  | 18127 |
| **BANKS—16.3%** | **BANKS—16.3%** | **BANKS—16.3%** |
| 8828900 | Bank Central Asia Tbk. PT (Indonesia) | 3901 |
| 2089278 | Bank of Ireland Group PLC (Ireland) | 42449 |
| 11854084 | Barclays PLC (United Kingdom) | 79115 |
| 5859151 | CaixaBank SA (Spain) | 77342 |
| 33386 | Capitec Bank Holdings Ltd. (South Africa) | 8964 |
| 511391 | Close Brothers Group PLC (United Kingdom)<sup>\*</sup> | 3550 |
| 621217 | DBS Group Holdings Ltd. (Singapore) | 28876 |
| 1270509 | DNB Bank ASA (Norway) | 36430 |
| 379000 | Grupo Financiero Banorte SAB de CV Class O (Mexico) | 4273 |
| 692255 | HDFC Bank Ltd. (India) | 6998 |
| 1769000 | Japan Post Bank Co. Ltd. (Japan) | 31430 |
| 24650774 | Lloyds Banking Group PLC (United Kingdom) | 36809 |
| 1455200 | Mitsubishi UFJ Financial Group, Inc. (Japan) | 26354 |
| 416175 | National Bank of Greece SA (Greece) | 7347 |
| 2741600 | Resona Holdings, Inc. (Japan) | 31967 |
| 151196 | Shinhan Financial Group Co. Ltd. (South Korea) | 8836 |
| 2433131 | Standard Chartered PLC (United Kingdom) | 62255 |
| 1065300 | Sumitomo Mitsui Trust Group, Inc. (Japan) | 35580 |
| 1337964 | Svenska Handelsbanken AB Class A (Sweden) | 21093 |
| 974832 | UniCredit SpA (Italy) | 84953 |
|  |  | 638522 |
| **BEVERAGES—3.6%** | **BEVERAGES—3.6%** | **BEVERAGES—3.6%** |
| 386800 | Arca Continental SAB de CV (Mexico) | 4357 |
| 2019200 | Asahi Group Holdings Ltd. (Japan) | 21139 |
| 229059 | Carlsberg AS Class B (Denmark) | 31140 |
| 139350 | Coca-Cola Europacific Partners PLC (Netherlands) | 12778 |
| 3365273 | Davide Campari-Milano NV (Italy) | 23985 |
| 1334985 | Diageo PLC (United Kingdom) | 30719 |
| 878600 | Kirin Holdings Co. Ltd. (Japan) | 13660 |
| 1162815 | Treasury Wine Estates Ltd. (Australia) | 4333 |
|  |  | 142111 |
| **BIOTECHNOLOGY—0.6%** | **BIOTECHNOLOGY—0.6%** | **BIOTECHNOLOGY—0.6%** |
| 191368 | CSL Ltd. (Australia) | 24114 |
| **BROADLINE RETAIL—0.4%** | **BROADLINE RETAIL—0.4%** | **BROADLINE RETAIL—0.4%** |
| 150793 | Naspers Ltd. Class N (South Africa) | 9232 |
| 151700 | Seria Co. Ltd. (Japan) | 3605 |
| 229424 | Vipshop Holdings Ltd. ADR (China)<sup>1</sup> | 3925 |
|  |  | 16762 |
| **BUILDING PRODUCTS—1.9%** | **BUILDING PRODUCTS—1.9%** | **BUILDING PRODUCTS—1.9%** |
| 895756 | Assa Abloy AB Class B (Sweden) | 36219 |
| 44215 | Geberit AG (Switzerland) | 33762 |
| 2220954 | Reliance Worldwide Corp. Ltd. (Australia) | 5771 |
|  |  | 75752 |
| **CAPITAL MARKETS—4.0%** | **CAPITAL MARKETS—4.0%** | **CAPITAL MARKETS—4.0%** |
| 1849129 | 3i Group PLC (United Kingdom) | 84947 |
| 2503100 | B3 SA - Brasil Bolsa Balcao (Brazil) | 7681 |
| 171300 | Hong Kong Exchanges & Clearing Ltd. (Hong Kong) | 9444 |
| 871417 | IG Group Holdings PLC (United Kingdom) | 16167 |
| 1848290 | Jupiter Fund Management PLC (United Kingdom) | 4751 |

---

---

| | | |
|:---|:---|:---|
| **COMMON STOCKS—Continued** | **COMMON STOCKS—Continued** | **COMMON STOCKS—Continued** |
| **Shares** |  | **Value** |
| **CAPITAL MARKETS—Continued** | **CAPITAL MARKETS—Continued** | **CAPITAL MARKETS—Continued** |
| 2895000 | Nomura Holdings, Inc. (Japan) | $26236 |
| 249207 | Rathbones Group PLC (United Kingdom) | 7543 |
|  |  | 156769 |
| **CHEMICALS—0.2%** | **CHEMICALS—0.2%** | **CHEMICALS—0.2%** |
| 407200 | Air Water, Inc. (Japan) | 6181 |
| **COMMERCIAL SERVICES & SUPPLIES—1.4%** | **COMMERCIAL SERVICES & SUPPLIES—1.4%** | **COMMERCIAL SERVICES & SUPPLIES—1.4%** |
| 132702 | Befesa SA (Germany)<sup>2</sup> | 4860 |
| 210500 | Daiei Kankyo Co. Ltd. (Japan) | 5552 |
| 451375 | Elis SA (France) | 13106 |
| 241700 | Secom Co. Ltd. (Japan) | 8854 |
| 5414352 | Serco Group PLC (United Kingdom) | 22231 |
|  |  | 54603 |
| **CONSTRUCTION & ENGINEERING—1.0%** | **CONSTRUCTION & ENGINEERING—1.0%** | **CONSTRUCTION & ENGINEERING—1.0%** |
| 200900 | Kinden Corp. (Japan) | 8890 |
| 874500 | Obayashi Corp. (Japan) | 19740 |
| 119774 | Taisei Corp. (Japan) | 11947 |
|  |  | 40577 |
| **CONSTRUCTION MATERIALS—1.8%** | **CONSTRUCTION MATERIALS—1.8%** | **CONSTRUCTION MATERIALS—1.8%** |
| 366914 | Cemex SAB de CV ADR (Mexico)<sup>1</sup> | 4579 |
| 208873 | Holcim AG (Switzerland) | 21528 |
| 534800 | Taiheiyo Cement Corp. (Japan) | 14696 |
| 847421 | Wienerberger AG (Austria) | 28011 |
|  |  | 68814 |
| **CONSUMER STAPLES DISTRIBUTION & RETAIL—0.8%** | **CONSUMER STAPLES DISTRIBUTION & RETAIL—0.8%** | **CONSUMER STAPLES DISTRIBUTION & RETAIL—0.8%** |
| 574784 | Koninklijke Ahold Delhaize NV (Netherlands) | 22474 |
| 719100 | Seven & i Holdings Co. Ltd. (Japan) | 10298 |
| 95013 | X5 Retail Group NV GDR (Russia)<sup>\*,1</sup> | — <br><sup>x</sup><br>|
|  |  | 32772 |
| **CONTAINERS & PACKAGING—0.5%** | **CONTAINERS & PACKAGING—0.5%** | **CONTAINERS & PACKAGING—0.5%** |
| 6077372 | Orora Ltd. (Australia) | 8630 |
| 474900 | Toyo Seikan Group Holdings Ltd. (Japan) | 11915 |
|  |  | 20545 |
| **DISTRIBUTORS—0.2%** | **DISTRIBUTORS—0.2%** | **DISTRIBUTORS—0.2%** |
| 695214 | Inchcape PLC (United Kingdom) | 7774 |
| **DIVERSIFIED CONSUMER SERVICES—0.1%** | **DIVERSIFIED CONSUMER SERVICES—0.1%** | **DIVERSIFIED CONSUMER SERVICES—0.1%** |
| 127474 | Laureate Education, Inc. (United States)<sup>\*</sup> | 4372 |
| **DIVERSIFIED TELECOMMUNICATION SERVICES—1.2%** | **DIVERSIFIED TELECOMMUNICATION SERVICES—1.2%** | **DIVERSIFIED TELECOMMUNICATION SERVICES—1.2%** |
| 47301800 | NTT, Inc. (Japan) | 47533 |
| **ELECTRIC UTILITIES—0.7%** | **ELECTRIC UTILITIES—0.7%** | **ELECTRIC UTILITIES—0.7%** |
| 1161355 | Iberdrola SA (Spain) | 26110 |
| 16136 | Iberdrola SA (Spain)<sup>\*</sup> | 362 <br><sup>x</sup><br>|
|  |  | 26472 |
| **ELECTRICAL EQUIPMENT—3.3%** | **ELECTRICAL EQUIPMENT—3.3%** | **ELECTRICAL EQUIPMENT—3.3%** |
| 159478 | Havells India Ltd. (India) | 2226 |
| 114747 | Legrand SA (France) | 18320 |
| 677600 | Mitsubishi Electric Corp. (Japan) | 21183 |
| 188739 | Schneider Electric SE (France) | 54112 |
| 1145637 | Vestas Wind Systems AS (Denmark) | 34726 |
|  |  | 130567 |
| **ELECTRONIC EQUIPMENT, INSTRUMENTS & COMPONENTS—0.4%** | **ELECTRONIC EQUIPMENT, INSTRUMENTS & COMPONENTS—0.4%** | **ELECTRONIC EQUIPMENT, INSTRUMENTS & COMPONENTS—0.4%** |
| 112000 | Delta Electronics, Inc. (Taiwan) | 4274 |
| 508700 | Murata Manufacturing Co. Ltd. (Japan) | 10335 |
|  |  | 14609 |

---

------

⬤

------

**Harbor International Fund**

**PORTFOLIO OF INVESTMENTS—Continued**

------

*Value and Cost in Thousands* 

---

| | | |
|:---|:---|:---|
| **COMMON STOCKS—Continued** | **COMMON STOCKS—Continued** | **COMMON STOCKS—Continued** |
| **Shares** |  | **Value** |
| **ENERGY EQUIPMENT & SERVICES—0.5%** | **ENERGY EQUIPMENT & SERVICES—0.5%** | **ENERGY EQUIPMENT & SERVICES—0.5%** |
| 2745506 | John Wood Group PLC (United Kingdom)<sup>\*</sup> | $976 |
| 478802 | Technip Energies NV (France) | 18764 |
|  |  | 19740 |
| **ENTERTAINMENT—0.2%** | **ENTERTAINMENT—0.2%** | **ENTERTAINMENT—0.2%** |
| 106200 | Nintendo Co. Ltd. (Japan) | 6577 |
| 179985 | Tencent Music Entertainment Group ADR (China)<sup>1</sup> | 3020 |
|  |  | 9597 |
| **FINANCIAL SERVICES—0.4%** | **FINANCIAL SERVICES—0.4%** | **FINANCIAL SERVICES—0.4%** |
| 765631 | Edenred SE (France) | 16037 |
| **FOOD PRODUCTS—2.0%** | **FOOD PRODUCTS—2.0%** | **FOOD PRODUCTS—2.0%** |
| 710446 | AVI Ltd. (South Africa) | 4696 |
| 287219 | Bakkafrost P (Norway) | 13875 |
| 627542 | Marico Ltd. (India) | 4990 |
| 211400 | Megmilk Snow Brand Co. Ltd. (Japan) | 4604 |
| 272000 | NH Foods Ltd. (Japan) | 12349 |
| 301563 | Salmar ASA (Norway) | 17964 |
| 164100 | Toyo Suisan Kaisha Ltd. (Japan) | 11716 |
| 96651 | Viscofan SA (Spain) | 6487 |
|  |  | 76681 |
| **GROUND TRANSPORTATION—0.6%** | **GROUND TRANSPORTATION—0.6%** | **GROUND TRANSPORTATION—0.6%** |
| 538300 | East Japan Railway Co. (Japan) | 13514 |
| 555100 | West Japan Railway Co. (Japan) | 11343 |
|  |  | 24857 |
| **HEALTH CARE EQUIPMENT & SUPPLIES—3.2%** | **HEALTH CARE EQUIPMENT & SUPPLIES—3.2%** | **HEALTH CARE EQUIPMENT & SUPPLIES—3.2%** |
| 59327 | Alcon AG (Switzerland) | 4802 |
| 84052 | BioMerieux (France) | 9761 |
| 241784 | Coloplast AS Class B (Denmark) | 20611 |
| 5467217 | Convatec Group PLC (United Kingdom)<sup>2</sup> | 17245 |
| 486713 | Demant AS (Denmark)<sup>\*</sup> | 17036 |
| 75890 | EssilorLuxottica SA (France) | 23199 |
| 2499800 | Olympus Corp. (Japan) | 29859 |
| 320400 | Sysmex Corp. (Japan) | 3032 |
|  |  | 125545 |
| **HEALTH CARE PROVIDERS & SERVICES—0.7%** | **HEALTH CARE PROVIDERS & SERVICES—0.7%** | **HEALTH CARE PROVIDERS & SERVICES—0.7%** |
| 419429 | Amplifon SpA (Italy) | 6762 |
| 288420 | Fresenius Medical Care AG (Germany) | 12985 |
| 480100 | Ship Healthcare Holdings, Inc. (Japan) | 7914 |
|  |  | 27661 |
| **HOTELS, RESTAURANTS & LEISURE—3.1%** | **HOTELS, RESTAURANTS & LEISURE—3.1%** | **HOTELS, RESTAURANTS & LEISURE—3.1%** |
| 226474 | Aristocrat Leisure Ltd. (Australia) | 8413 |
| 1155315 | Compass Group PLC (United Kingdom) | 34643 |
| 223760 | Domino's Pizza Enterprises Ltd. (Australia) | 3544 |
| 2460016 | Entain PLC (United Kingdom) | 20409 |
| 2034000 | Galaxy Entertainment Group Ltd. (Hong Kong) | 10334 |
| 160436 | InterContinental Hotels Group PLC (United Kingdom) | 21675 |
| 6103612 | SSP Group PLC (United Kingdom) | 15283 |
| 198492 | Whitbread PLC (United Kingdom) | 7409 |
|  |  | 121710 |
| **HOUSEHOLD DURABLES—1.4%** | **HOUSEHOLD DURABLES—1.4%** | **HOUSEHOLD DURABLES—1.4%** |
| 1686500 | Barratt Redrow PLC (United Kingdom) | 8980 |
| 194564 | GN Store Nord AS (Denmark)<sup>\*</sup> | 3415 |
| 441900 | Midea Group Co. Ltd. Class A (China) | 4936 |
| 697900 | Nikon Corp. (Japan) | 8784 |
| 1230000 | Sony Group Corp. (Japan) | 27119 |
|  |  | 53234 |
| **HOUSEHOLD PRODUCTS—0.9%** | **HOUSEHOLD PRODUCTS—0.9%** | **HOUSEHOLD PRODUCTS—0.9%** |
| 415230 | Reckitt Benckiser Group PLC (United Kingdom) | 34642 |

---

---

| | | |
|:---|:---|:---|
| **COMMON STOCKS—Continued** | **COMMON STOCKS—Continued** | **COMMON STOCKS—Continued** |
| **Shares** |  | **Value** |
| **INDUSTRIAL CONGLOMERATES—1.6%** | **INDUSTRIAL CONGLOMERATES—1.6%** | **INDUSTRIAL CONGLOMERATES—1.6%** |
| 1341000 | CK Hutchison Holdings Ltd. (Hong Kong) | $10813 |
| 263397 | DCC PLC (United Kingdom) | 16697 |
| 354200 | Hitachi Ltd. (Japan) | 12291 |
| 253400 | Jardine Matheson Holdings Ltd. (Hong Kong) | 18467 |
| 658500 | Swire Pacific Ltd. Class A (Hong Kong) | 6354 |
|  |  | 64622 |
| **INSURANCE—6.4%** | **INSURANCE—6.4%** | **INSURANCE—6.4%** |
| 372155 | Admiral Group PLC (United Kingdom) | 14006 |
| 5857400 | AIA Group Ltd. (Hong Kong) | 67580 |
| 74467 | Hannover Rueck SE (Germany) | 21055 |
| 982083 | Hiscox Ltd. (United Kingdom) | 19975 |
| 1471700 | Japan Post Holdings Co. Ltd. (Japan) | 17709 |
| 2212012 | Prudential PLC (United Kingdom) | 36333 |
| 1126423 | QBE Insurance Group Ltd. (Australia) | 15438 |
| 2324798 | Sampo OYJ Class A (Finland) | 25927 |
| 931500 | Tokio Marine Holdings, Inc. (Japan) | 34719 |
|  |  | 252742 |
| **INTERACTIVE MEDIA & SERVICES—0.8%** | **INTERACTIVE MEDIA & SERVICES—0.8%** | **INTERACTIVE MEDIA & SERVICES—0.8%** |
| 1675892 | Autotrader Group PLC (United Kingdom)<sup>2</sup> | 12354 |
| 1930495 | Rightmove PLC (United Kingdom) | 13068 |
| 78134 | Scout24 SE (Germany)<sup>2</sup> | 7779 |
|  |  | 33201 |
| **IT SERVICES—0.6%** | **IT SERVICES—0.6%** | **IT SERVICES—0.6%** |
| 121156 | Alten SA (France) | 11877 |
| 283100 | NEC Corp. (Japan) | 9597 |
|  |  | 21474 |
| **LEISURE PRODUCTS—0.2%** | **LEISURE PRODUCTS—0.2%** | **LEISURE PRODUCTS—0.2%** |
| 566900 | Sega Sammy Holdings, Inc. (Japan) | 8892 |
| **LIFE SCIENCES TOOLS & SERVICES—0.7%** | **LIFE SCIENCES TOOLS & SERVICES—0.7%** | **LIFE SCIENCES TOOLS & SERVICES—0.7%** |
| 327407 | Eurofins Scientific SE (France) | 26485 |
| **MACHINERY—5.4%** | **MACHINERY—5.4%** | **MACHINERY—5.4%** |
| 310293 | Alfa Laval AB (Sweden) | 17973 |
| 201873 | ANDRITZ AG (Austria) | 17467 |
| 1899123 | CNH Industrial NV (United States) | 20435 |
| 714971 | Fluidra SA (Spain) | 20797 |
| 250829 | GEA Group AG (Germany) | 17935 |
| 683700 | IHI Corp. (Japan) | 15818 |
| 319300 | Komatsu Ltd. (Japan) | 12221 |
| 509500 | Kubota Corp. (Japan) | 7806 |
| 2152620 | Rotork PLC (United Kingdom) | 10446 |
| 587060 | Sandvik AB (Sweden) | 23181 |
| 1972500 | Sany Heavy Industry Co. Ltd. Class A (China) | 6223 |
| 108294 | Stabilus SE (Germany) | 2486 |
| 848000 | Techtronic Industries Co. Ltd. (Hong Kong) | 11577 |
| 41100 | Toyota Industries Corp. (Japan) | 5259 |
| 508505 | Wartsila OYJ Abp (Finland) | 20615 |
|  |  | 210239 |
| **MARINE TRANSPORTATION—0.2%** | **MARINE TRANSPORTATION—0.2%** | **MARINE TRANSPORTATION—0.2%** |
| 839874 | Irish Continental Group PLC (Ireland) | 6355 |
| **MEDIA—1.0%** | **MEDIA—1.0%** | **MEDIA—1.0%** |
| 313795 | Future PLC (United Kingdom) | 2323 |
| 538700 | Hakuhodo DY Holdings, Inc. (Japan) | 4025 |
| 6570585 | ITV PLC (United Kingdom) | 7326 |
| 512900 | Nippon Television Holdings, Inc. (Japan) | 12327 |
| 314200 | TBS Holdings, Inc. (Japan) | 12182 |
| 597655 | WPP PLC (United Kingdom) | 2479 |
|  |  | 40662 |

---

------

⬤

------

**Harbor International Fund**

**PORTFOLIO OF INVESTMENTS—Continued**

------

*Value and Cost in Thousands* 

---

| | | |
|:---|:---|:---|
| **COMMON STOCKS—Continued** | **COMMON STOCKS—Continued** | **COMMON STOCKS—Continued** |
| **Shares** |  | **Value** |
| **METALS & MINING—5.9%** | **METALS & MINING—5.9%** | **METALS & MINING—5.9%** |
| 289953 | Acerinox SA (Spain) | $4307 |
| 774946 | ArcelorMittal SA (France) | 42086 |
| 932512 | BHP Group Ltd. (Australia) | 32118 |
| 1565803 | Deterra Royalties Ltd. (Australia) | 4572 |
| 280800 | Dowa Holdings Co. Ltd. (Japan) | 16631 |
| 120624 | First Quantum Minerals Ltd. (Canada)<sup>\*</sup> | 3410 |
| 8265610 | Glencore PLC (United Kingdom)<sup>\*</sup> | 56350 |
| 89013 | Newmont Corp. CDI (Australia)<sup>1</sup> | 10051 |
| 32200 | OSAKA Titanium Technologies Co. Ltd. (Japan) | 479 |
| 217215 | Severstal PAO GDR (Russia)<sup>\*,1</sup> | — <br><sup>x</sup><br>|
| 41342 | Southern Copper Corp. (Peru) | 7868 |
| 815100 | Sumitomo Metal Mining Co. Ltd. (Japan) | 46060 |
| 69350 | Valterra Platinum Ltd. (South Africa) | 6231 |
|  |  | 230163 |
| **OIL, GAS & CONSUMABLE FUELS—3.0%** | **OIL, GAS & CONSUMABLE FUELS—3.0%** | **OIL, GAS & CONSUMABLE FUELS—3.0%** |
| 9309657 | BP PLC (United Kingdom) | 59028 |
| 495038 | Equinor ASA (Norway) | 13306 |
| 1417700 | Idemitsu Kosan Co. Ltd. (Japan) | 12030 |
| 402200 | Inpex Corp. (Japan) | 9011 |
| 604224 | PRIO SA (Brazil)<sup>\*</sup> | 5854 |
| 3540988 | Santos Ltd. (Australia) | 17269 |
|  |  | 116498 |
| **PASSENGER AIRLINES—0.7%** | **PASSENGER AIRLINES—0.7%** | **PASSENGER AIRLINES—0.7%** |
| 41348 | Copa Holdings SA Class A (Panama) | 5640 |
| 1970551 | easyJet PLC (United Kingdom) | 12893 |
| 1204062 | Qantas Airways Ltd. (Australia) | 8418 |
|  |  | 26951 |
| **PERSONAL CARE PRODUCTS—0.4%** | **PERSONAL CARE PRODUCTS—0.4%** | **PERSONAL CARE PRODUCTS—0.4%** |
| 846200 | Shiseido Co. Ltd. (Japan) | 14453 |
| **PHARMACEUTICALS—1.7%** | **PHARMACEUTICALS—1.7%** | **PHARMACEUTICALS—1.7%** |
| 987072 | Novo Nordisk AS Class B (Denmark) | 58612 |
| 371600 | Tsumura & Co. (Japan) | 9823 |
|  |  | 68435 |
| **PROFESSIONAL SERVICES—2.7%** | **PROFESSIONAL SERVICES—2.7%** | **PROFESSIONAL SERVICES—2.7%** |
| 545069 | ALS Ltd. (Australia) | 9294 |
| 110367 | Capita PLC (United Kingdom)<sup>\*</sup> | 571 |
| 473576 | Experian PLC (United Kingdom) | 17937 |
| 384520 | Intertek Group PLC (United Kingdom) | 23589 |
| 3251109 | IPH Ltd. (Australia) | 8436 |
| 1891321 | Pagegroup PLC (United Kingdom) | 5344 |
| 142889 | Randstad NV (Netherlands) | 5114 |
| 1024517 | RELX PLC (United Kingdom) | 36321 |
|  |  | 106606 |
| **REAL ESTATE MANAGEMENT & DEVELOPMENT—0.9%** | **REAL ESTATE MANAGEMENT & DEVELOPMENT—0.9%** | **REAL ESTATE MANAGEMENT & DEVELOPMENT—0.9%** |
| 1094492 | China Resources Land Ltd. (China) | 4286 |
| 703500 | Daiwa House Industry Co. Ltd. (Japan) | 23971 |
| 2016879 | Henderson Land Development Co. Ltd. (Hong Kong) | 8023 |
|  |  | 36280 |
| **SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT—3.2%** | **SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT—3.2%** | **SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT—3.2%** |
| 63998 | ASML Holding NV (Netherlands) | 91767 |
| 393600 | ASMPT Ltd. (Hong Kong) | 5249 |
| 101000 | MediaTek, Inc. (Taiwan) | 5603 |

---

---

| | | |
|:---|:---|:---|
| **COMMON STOCKS—Continued** | **COMMON STOCKS—Continued** | **COMMON STOCKS—Continued** |
| **Shares** |  | **Value** |
| **SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT—Continued** | **SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT—Continued** | **SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT—Continued** |
| 406993 | Taiwan Semiconductor Manufacturing Co. Ltd. (Taiwan) | $22505 |
|  |  | 125124 |
| **SOFTWARE—0.3%** | **SOFTWARE—0.3%** | **SOFTWARE—0.3%** |
| 248010 | Dassault Systemes SE (France) | 6822 |
| 92900 | Oracle Corp. (Japan) | 6286 |
|  |  | 13108 |
| **SPECIALTY RETAIL—1.8%** | **SPECIALTY RETAIL—1.8%** | **SPECIALTY RETAIL—1.8%** |
| 716300 | ABC-Mart, Inc. (Japan) | 11475 |
| 415900 | Nitori Holdings Co. Ltd. (Japan) | 7109 |
| 2379856 | Pets at Home Group PLC (United Kingdom) | 6665 |
| 1666200 | USS Co. Ltd. (Japan) | 18411 |
| 1003228 | WH Smith PLC (United Kingdom) | 9266 |
| 2185000 | ZOZO, Inc. (Japan) | 18047 |
|  |  | 70973 |
| **TECHNOLOGY HARDWARE, STORAGE & PERIPHERALS—0.3%** | **TECHNOLOGY HARDWARE, STORAGE & PERIPHERALS—0.3%** | **TECHNOLOGY HARDWARE, STORAGE & PERIPHERALS—0.3%** |
| 101189 | Samsung Electronics Co. Ltd. (South Korea) | 11179 |
| **TEXTILES, APPAREL & LUXURY GOODS—2.5%** | **TEXTILES, APPAREL & LUXURY GOODS—2.5%** | **TEXTILES, APPAREL & LUXURY GOODS—2.5%** |
| 122284 | adidas AG (Germany) | 21681 |
| 235283 | Cie Financiere Richemont SA Class A (Switzerland) | 45671 |
| 577000 | Li Ning Co. Ltd. (China) | 1509 |
| 9751800 | Samsonite Group SA (Hong Kong)<sup>2</sup> | 24776 |
| 400218 | Shenzhou International Group Holdings Ltd. (China) | 3183 |
|  |  | 96820 |
| **TRADING COMPANIES & DISTRIBUTORS—1.8%** | **TRADING COMPANIES & DISTRIBUTORS—1.8%** | **TRADING COMPANIES & DISTRIBUTORS—1.8%** |
| 321600 | BOC Aviation Ltd. (China)<sup>2</sup> | 3332 |
| 299569 | Brenntag SE (Germany) | 18226 |
| 791943 | Bunzl PLC (United Kingdom) | 22208 |
| 427600 | Mitsubishi Corp. (Japan) | 11360 |
| 353078 | Rexel SA (France) | 14796 |
|  |  | 69922 |
| **TRANSPORTATION INFRASTRUCTURE—0.2%** | **TRANSPORTATION INFRASTRUCTURE—0.2%** | **TRANSPORTATION INFRASTRUCTURE—0.2%** |
| 914300 | Mitsubishi Logistics Corp. (Japan) | 7810 |
| **WIRELESS TELECOMMUNICATION SERVICES—0.2%** | **WIRELESS TELECOMMUNICATION SERVICES—0.2%** | **WIRELESS TELECOMMUNICATION SERVICES—0.2%** |
| 697380 | Empresa Nacional de Telecomunicaciones SA (Chile) | 3744 |
| 86649 | Millicom International Cellular SA (Sweden) | 5288 |
|  |  | 9032 |
| &nbsp;&nbsp;&nbsp;&nbsp; **TOTAL COMMON STOCKS** <br>(Cost $2,419,318) | &nbsp;&nbsp;&nbsp;&nbsp; **TOTAL COMMON STOCKS** <br>(Cost $2,419,318) | 3869466 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
| **PREFERRED STOCKS—0.1%** | **PREFERRED STOCKS—0.1%** | **PREFERRED STOCKS—0.1%** |
| &nbsp;&nbsp;&nbsp; (Cost $2,104) | &nbsp;&nbsp;&nbsp; (Cost $2,104) | &nbsp;&nbsp;&nbsp; (Cost $2,104) |
| **BEVERAGES—0.1%** | **BEVERAGES—0.1%** | **BEVERAGES—0.1%** |
| 827615 | Embotelladora Andina SA (Chile) | 4348 |
| &nbsp;&nbsp;&nbsp;&nbsp; **TOTAL INVESTMENTS—98.7%** <br>(Cost $2,421,422) | &nbsp;&nbsp;&nbsp;&nbsp; **TOTAL INVESTMENTS—98.7%** <br>(Cost $2,421,422) | 3873814 |
| **CASH AND OTHER ASSETS, LESS LIABILITIES—1.3%** | **CASH AND OTHER ASSETS, LESS LIABILITIES—1.3%** | 52767 |
| **TOTAL NET ASSETS—100%** | **TOTAL NET ASSETS—100%** | $3926581 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

------

⬤

------

**Harbor International Fund**

**PORTFOLIO OF INVESTMENTS—Continued**

------

**FAIR VALUE MEASUREMENTS**

The following table summarizes the Fund's investments as of January 31, 2026 based on the inputs used to value them.

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Asset Category** | **Quoted Prices** <br>**Level 1** <br>**(000s)**<br>| **Other Significant** <br>**Observable Inputs** <br>**Level 2** <br>**(000s)**<br>| **Significant** <br>**Unobservable** <br>**Inputs** <br>**Level 3** <br>**(000s)**<br>| **Total** <br>**(000s)**<br>|
| Common Stocks |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Africa | &nbsp;&nbsp; $— | &nbsp;&nbsp; $29123 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $29123 |
| &nbsp;&nbsp;&nbsp; Europe | &nbsp;&nbsp; 18066 | &nbsp;&nbsp; 2375246 | &nbsp;&nbsp; — | &nbsp;&nbsp; 2393312 |
| &nbsp;&nbsp;&nbsp; Latin America | &nbsp;&nbsp; 40252 | &nbsp;&nbsp; 3744 | &nbsp;&nbsp; — | &nbsp;&nbsp; 43996 |
| &nbsp;&nbsp;&nbsp; Middle East/Central Asia | &nbsp;&nbsp; — | &nbsp;&nbsp; 34229 | &nbsp;&nbsp; — | &nbsp;&nbsp; 34229 |
| &nbsp;&nbsp;&nbsp; North America | &nbsp;&nbsp; 28217 | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; 28217 |
| &nbsp;&nbsp;&nbsp; Pacific Basin | &nbsp;&nbsp; 6945 | &nbsp;&nbsp; 1333644 | &nbsp;&nbsp; — | &nbsp;&nbsp; 1340589 |
| Preferred Stocks |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Latin America | &nbsp;&nbsp; — | &nbsp;&nbsp; 4348 | &nbsp;&nbsp; — | &nbsp;&nbsp; 4348 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total Investments in Securities | &nbsp;&nbsp; $93480 | &nbsp;&nbsp; $3780334 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $3873814 |

---

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 Portfolio of Investments.

The following is a rollforward of the Fund's Level 3 investments during the period ended January 31, 2026. 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** <br>**Description**<br>| **Beginning** <br>**Balance** <br>**as of** <br>**11/01/2025** <br>**(000s)**<br>| **Purchases** <br>**(000s)**<br>| **Sales** <br>**(000s)**<br>| **Discount/** <br>**(Premium)** <br>**(000s)**<br>| **Total** <br>**Realized** <br>**Gain/(Loss)** <br>**(000s)**<br>| **Change in** <br>**Unrealized** <br>**Appreciation/** <br>**(Depreciation)** <br>**(000s)**<br>| **Transfers** <br>**Into** <br>**Level 3** <br>**(000s)**<br>| **Transfers** <br>**Out of** <br>**Level 3**<sup>h</sup> <br>**(000s)**<br>| **Ending** <br>**Balance** <br>**as of** <br>**01/31/2026** <br>**(000s)**<br>| **Unrealized** <br>**Gain/(Loss)** <br>**as of** <br>**01/31/2026** <br>**(000s)**<br>|
| Common Stock | $— | $— | $(89) | $— | $(1003) | $2068 | $— | $(976) | $— | $(7678) |

---

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** <br>**as of 01/31/2026** <br>**(000s)**<br>| **Valuation** <br>**Technique**<br>| **Unobservable** <br>**Input(s)**<br>| **Input** <br>**Value(s)**<br>|
| Investments in Securities |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Common Stocks |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Severstal PAO GDR (Russia)\* | &nbsp;&nbsp; $— | Market Approach | Estimated Recovery Value | $0.00 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; X5 Retail Group NV GDR (Russia)\* | &nbsp;&nbsp; — | Market Approach | Estimated Recovery Value | $0.00 |
|  | &nbsp;&nbsp; $— |  |  |  |

---

------

\*

Non-income producing security

x

Fair valued in accordance with the fair value pricing procedures applicable to the Funds.

h

Transferred into Level 3 due to the unavailability of observable market data for pricing or transferred out of Level 3 due to availability of observable market data for pricing.

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.

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, 2026, the aggregate value of these securities was $70,346 or 2% of net assets.

The accompanying notes are an integral part of the Portfolios of Investments.

------

⬤

------

**Harbor International Compounders Fund**

**PORTFOLIO OF INVESTMENTS—January 31, 2026 (Unaudited)**

------

*Value and Cost in Thousands*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
| **COMMON STOCKS—98.9%** | **COMMON STOCKS—98.9%** | **COMMON STOCKS—98.9%** |
| **Shares** |  | **Value** |
| **AEROSPACE & DEFENSE—2.5%** | **AEROSPACE & DEFENSE—2.5%** | **AEROSPACE & DEFENSE—2.5%** |
| 601 | Rheinmetall AG (Germany) | $1273 |
| **BANKS—6.6%** | **BANKS—6.6%** | **BANKS—6.6%** |
| 2154400 | Bank Central Asia Tbk. PT (Indonesia) | 952 |
| 77050 | HDFC Bank Ltd. ADR (India)<sup>1</sup> | 2495 |
|  |  | 3447 |
| **BROADLINE RETAIL—7.3%** | **BROADLINE RETAIL—7.3%** | **BROADLINE RETAIL—7.3%** |
| 771 | MercadoLibre, Inc. (Brazil)<sup>\*</sup> | 1656 |
| 37576 | Prosus NV (China) | 2161 |
|  |  | 3817 |
| **BUILDING PRODUCTS—3.7%** | **BUILDING PRODUCTS—3.7%** | **BUILDING PRODUCTS—3.7%** |
| 48093 | Assa Abloy AB Class B (Sweden) | 1945 |
| **CAPITAL MARKETS—3.1%** | **CAPITAL MARKETS—3.1%** | **CAPITAL MARKETS—3.1%** |
| 6414 | Deutsche Boerse AG (Germany) | 1624 |
| **CHEMICALS—3.0%** | **CHEMICALS—3.0%** | **CHEMICALS—3.0%** |
| 3413 | Linde PLC (United States) | 1560 |
| **CONSTRUCTION & ENGINEERING—2.5%** | **CONSTRUCTION & ENGINEERING—2.5%** | **CONSTRUCTION & ENGINEERING—2.5%** |
| 8882 | Vinci SA (France) | 1277 |
| **CONSTRUCTION MATERIALS—2.5%** | **CONSTRUCTION MATERIALS—2.5%** | **CONSTRUCTION MATERIALS—2.5%** |
| 4646 | Heidelberg Materials AG (Germany) | 1272 |
| **CONSUMER STAPLES DISTRIBUTION & RETAIL—3.0%** | **CONSUMER STAPLES DISTRIBUTION & RETAIL—3.0%** | **CONSUMER STAPLES DISTRIBUTION & RETAIL—3.0%** |
| 265593 | Tesco PLC (United Kingdom) | 1545 |
| **ELECTRIC UTILITIES—3.4%** | **ELECTRIC UTILITIES—3.4%** | **ELECTRIC UTILITIES—3.4%** |
| 53679 | SSE PLC (United Kingdom) | 1784 |
| **ELECTRICAL EQUIPMENT—6.5%** | **ELECTRICAL EQUIPMENT—6.5%** | **ELECTRICAL EQUIPMENT—6.5%** |
| 24800 | Contemporary Amperex Technology Co. Ltd. Class H (China) | 1547 |
| 6301 | Schneider Electric SE (France) | 1807 |
|  |  | 3354 |
| **ELECTRONIC EQUIPMENT, INSTRUMENTS & COMPONENTS—2.1%** | **ELECTRONIC EQUIPMENT, INSTRUMENTS & COMPONENTS—2.1%** | **ELECTRONIC EQUIPMENT, INSTRUMENTS & COMPONENTS—2.1%** |
| 3000 | Keyence Corp. (Japan) | 1101 |
| **FOOD PRODUCTS—3.1%** | **FOOD PRODUCTS—3.1%** | **FOOD PRODUCTS—3.1%** |
| 16803 | Nestle SA (United States) | 1603 |
| **HEALTH CARE EQUIPMENT & SUPPLIES—4.5%** | **HEALTH CARE EQUIPMENT & SUPPLIES—4.5%** | **HEALTH CARE EQUIPMENT & SUPPLIES—4.5%** |
| 14000 | Hoya Corp. (Japan) | 2349 |

---

---

| | | |
|:---|:---|:---|
| **COMMON STOCKS—Continued** | **COMMON STOCKS—Continued** | **COMMON STOCKS—Continued** |
| **Shares** |  | **Value** |
| **HOTELS, RESTAURANTS & LEISURE—2.7%** | **HOTELS, RESTAURANTS & LEISURE—2.7%** | **HOTELS, RESTAURANTS & LEISURE—2.7%** |
| 46600 | Compass Group PLC (United Kingdom) | $1397 |
| **HOUSEHOLD DURABLES—3.1%** | **HOUSEHOLD DURABLES—3.1%** | **HOUSEHOLD DURABLES—3.1%** |
| 73900 | Sony Group Corp. (Japan) | 1629 |
| **INDUSTRIAL CONGLOMERATES—4.4%** | **INDUSTRIAL CONGLOMERATES—4.4%** | **INDUSTRIAL CONGLOMERATES—4.4%** |
| 7592 | Siemens AG (Germany) | 2295 |
| **INSURANCE—4.4%** | **INSURANCE—4.4%** | **INSURANCE—4.4%** |
| 200000 | AIA Group Ltd. (Hong Kong) | 2307 |
| **PERSONAL CARE PRODUCTS—3.0%** | **PERSONAL CARE PRODUCTS—3.0%** | **PERSONAL CARE PRODUCTS—3.0%** |
| 3349 | L'Oreal SA (France) | 1539 |
| **PHARMACEUTICALS—7.1%** | **PHARMACEUTICALS—7.1%** | **PHARMACEUTICALS—7.1%** |
| 12054 | AstraZeneca PLC (United Kingdom) | 2246 |
| 7713 | Galderma Group AG (Switzerland) | 1438 |
|  |  | 3684 |
| **PROFESSIONAL SERVICES—2.8%** | **PROFESSIONAL SERVICES—2.8%** | **PROFESSIONAL SERVICES—2.8%** |
| 41255 | RELX PLC (United Kingdom) | 1463 |
| **SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT—12.2%** | **SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT—12.2%** | **SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT—12.2%** |
| 1748 | ASML Holding NV (Netherlands) | 2507 |
| 11611 | Taiwan Semiconductor Manufacturing Co. Ltd. ADR (Taiwan)<sup>1</sup> | 3838 |
|  |  | 6345 |
| **SOFTWARE—2.9%** | **SOFTWARE—2.9%** | **SOFTWARE—2.9%** |
| 7513 | SAP SE (Germany) | 1501 |
| **TEXTILES, APPAREL & LUXURY GOODS—2.5%** | **TEXTILES, APPAREL & LUXURY GOODS—2.5%** | **TEXTILES, APPAREL & LUXURY GOODS—2.5%** |
| 1999 | LVMH Moet Hennessy Louis Vuitton SE (France) | 1290 |
| &nbsp;&nbsp;&nbsp;&nbsp; **TOTAL COMMON STOCKS** <br>(Cost $44,679) | &nbsp;&nbsp;&nbsp;&nbsp; **TOTAL COMMON STOCKS** <br>(Cost $44,679) | 51401 |
| &nbsp;&nbsp;&nbsp;&nbsp; **TOTAL INVESTMENTS—98.9%** <br>(Cost $44,679) | &nbsp;&nbsp;&nbsp;&nbsp; **TOTAL INVESTMENTS—98.9%** <br>(Cost $44,679) | 51401 |
| **CASH AND OTHER ASSETS, LESS LIABILITIES—1.1%** | **CASH AND OTHER ASSETS, LESS LIABILITIES—1.1%** | 548 |
| **TOTAL NET ASSETS—100%** | **TOTAL NET ASSETS—100%** | $51949 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

**FAIR VALUE MEASUREMENTS**

The following table summarizes the Fund's investments as of January 31, 2026 based on the inputs used to value them.

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Asset Category** | **Quoted Prices** <br>**Level 1** <br>**(000s)**<br>| **Other Significant** <br>**Observable Inputs** <br>**Level 2** <br>**(000s)**<br>| **Significant** <br>**Unobservable** <br>**Inputs** <br>**Level 3** <br>**(000s)**<br>| **Total** <br>**(000s)**<br>|
| Common Stocks |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Europe | &nbsp;&nbsp; $— | &nbsp;&nbsp; $28203 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $28203 |
| &nbsp;&nbsp;&nbsp; Latin America | &nbsp;&nbsp; 1656 | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; 1656 |
| &nbsp;&nbsp;&nbsp; Middle East/Central Asia | &nbsp;&nbsp; 2495 | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; 2495 |
| &nbsp;&nbsp;&nbsp; North America | &nbsp;&nbsp; 1560 | &nbsp;&nbsp; 1603 | &nbsp;&nbsp; — | &nbsp;&nbsp; 3163 |
| &nbsp;&nbsp;&nbsp; Pacific Basin | &nbsp;&nbsp; 3838 | &nbsp;&nbsp; 12046 | &nbsp;&nbsp; — | &nbsp;&nbsp; 15884 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total Investments in Securities | &nbsp;&nbsp; $9549 | &nbsp;&nbsp; $41852 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $51401 |

---

------

⬤

------

**Harbor International Compounders 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 Portfolio of Investments.

------

\*

Non-income producing security

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.

------

⬤

------

**Harbor International Core Fund**

**PORTFOLIO OF INVESTMENTS—January 31, 2026 (Unaudited)**

------

*Value and Cost in Thousands*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
| **COMMON STOCKS—95.9%** | **COMMON STOCKS—95.9%** | **COMMON STOCKS—95.9%** |
| **Shares** |  | **Value** |
| **AEROSPACE & DEFENSE—2.7%** | **AEROSPACE & DEFENSE—2.7%** | **AEROSPACE & DEFENSE—2.7%** |
| 39019 | Airbus SE (France) | $8933 |
| 1335 | Dassault Aviation SA (France) | 508 |
| 144992 | Leonardo SpA (Italy) | 9689 |
| 52137 | Safran SA (France) | 18628 |
| 161700 | Singapore Technologies Engineering Ltd. (Singapore) | 1243 |
|  |  | 39001 |
| **AIR FREIGHT & LOGISTICS—0.0%** | **AIR FREIGHT & LOGISTICS—0.0%** | **AIR FREIGHT & LOGISTICS—0.0%** |
| 46000 | KLN Logistics Group Ltd. (China) | 42 |
| **AUTOMOBILE COMPONENTS—1.0%** | **AUTOMOBILE COMPONENTS—1.0%** | **AUTOMOBILE COMPONENTS—1.0%** |
| 1943 | AB Dynamics PLC (United Kingdom) | 34 |
| 26400 | Aisin Corp. (Japan) | 473 |
| 24101 | Aumovio SE (Germany)<sup>\*</sup> | 1157 |
| 26873 | Continental AG (Germany) | 2115 |
| 593000 | Denso Corp. (Japan) | 8228 |
| 8218 | Forvia SE (France)<sup>\*</sup> | 134 |
| 8700 | Ichikoh Industries Ltd. (Japan) | 29 |
| 4700 | Imasen Electric Industrial (Japan) | 27 |
| 170500 | Johnson Electric Holdings Ltd. (Hong Kong) | 587 |
| 10100 | Linamar Corp. (Canada) | 640 |
| 17800 | Mitsuba Corp. (Japan) | 150 |
| 14817 | Myoung Shin Industrial Co. Ltd. (South Korea) | 94 |
| 8788 | Nexen Tire Corp. (South Korea) | 49 |
| 111600 | Somboon Advance Technology PCL NVDR (Thailand)<sup>1</sup> | 53 |
| 5700 | Taiho Kogyo Co. Ltd. (Japan) | 31 |
| 4800 | Unipres Corp. (Japan) | 43 |
|  |  | 13844 |
| **AUTOMOBILES—0.8%** | **AUTOMOBILES—0.8%** | **AUTOMOBILES—0.8%** |
| 1326500 | BAIC Motor Corp. Ltd. Class H (China)<sup>\*,2</sup> | 314 |
| 72700 | Chery Automobile Co. Ltd. Class H (China)<sup>\*</sup> | 264 |
| 156500 | DRB-Hicom Bhd. (Malaysia) | 43 |
| 277300 | Honda Motor Co. Ltd. (Japan) | 2789 |
| 24500 | Luyuan Group Holding Cayman Ltd. (China) | 38 |
| 276500 | Mazda Motor Corp. (Japan) | 2128 |
| 1898700 | Nissan Motor Co. Ltd. (Japan)<sup>\*</sup> | 4628 |
| 23300 | Subaru Corp. (Japan) | 500 |
| 167750 | Volvo Car AB Class B (Sweden)<sup>\*</sup> | 560 |
|  |  | 11264 |
| **BANKS—22.3%** | **BANKS—22.3%** | **BANKS—22.3%** |
| 362071 | ABN AMRO Bank NV CVA (Netherlands)<sup>1,2</sup> | 13340 |
| 217714 | Abu Dhabi Commercial Bank PJSC (United Arab Emirates) | 903 |
| 452888 | ANZ Group Holdings Ltd. (Australia) | 11522 |
| 5700 | Awa Bank Ltd. (Japan) | 192 |
| 972400 | Banco Bilbao Vizcaya Argentaria SA (Spain) | 24683 |
| 1186138 | Banco Santander SA (Spain) | 15145 |
| 164300 | Bangkok Bank PCL NVDR (Thailand)<sup>1</sup> | 824 |
| 741065 | Bank Danamon Indonesia Tbk. PT (Indonesia) | 113 |
| 115410 | Bank Hapoalim BM (Israel) | 2853 |
| 9577 | Bank Leumi Le-Israel BM (Israel) | 230 |
| 8947 | Bank Polska Kasa Opieki SA (Poland) | 544 |
| 158717 | Bankinter SA (Spain) | 2709 |
| 669617 | Barclays PLC ADR (United Kingdom)<sup>1</sup> | 17912 |
| 260921 | BNP Paribas SA (France) | 28214 |
| 1066 | &nbsp;&nbsp;&nbsp;&nbsp; Caisse Regionale de Credit Agricole Mutuel Nord de France <br> (France)<br>| 35 |
| 2064559 | CaixaBank SA (Spain) | 27253 |
| 150000 | China Merchants Bank Co. Ltd. Class H (China) | 916 |
| 444000 | China Minsheng Banking Corp. Ltd. Class H (China) | 221 |
| 32260 | Commercial Bank of Dubai PSC (United Arab Emirates) | 86 |
| 168958 | Commerzbank AG (Germany) | 6945 |
| 106800 | Dah Sing Banking Group Ltd. (Hong Kong) | 152 |
| 81659 | Danske Bank AS (Denmark) | 4160 |
| 55555 | Erste Group Bank AG (Austria) | 7223 |
| 39135 | Faisal Islamic Bank of Egypt (Egypt) | 38 |

---

---

| | | |
|:---|:---|:---|
| **COMMON STOCKS—Continued** | **COMMON STOCKS—Continued** | **COMMON STOCKS—Continued** |
| **Shares** |  | **Value** |
| **BANKS—Continued** | **BANKS—Continued** | **BANKS—Continued** |
| 19879 | Hana Financial Group, Inc. (South Korea) | $1381 |
| 1009659 | ING Groep NV (Netherlands) | 29776 |
| 90988 | Israel Discount Bank Ltd. Class A (Israel) | 1072 |
| 516600 | Japan Post Bank Co. Ltd. (Japan) | 9179 |
| 6768 | KB Financial Group, Inc. (South Korea) | 633 |
| 83407 | KBC Group NV (Belgium) | 11753 |
| 15640 | Komercni Banka AS (Czech Republic) | 948 |
| 1627800 | Krung Thai Bank PCL NVDR (Thailand)<sup>1</sup> | 1461 |
| 753000 | Mitsubishi UFJ Financial Group, Inc. (Japan) | 13637 |
| 338700 | Mizuho Financial Group, Inc. (Japan) | 14706 |
| 29127 | National Bank of Greece SA (Greece) | 514 |
| 1301591 | NatWest Group PLC (United Kingdom) | 11864 |
| 280932 | Nordea Bank Abp (Finland) | 5428 |
| 2329000 | Postal Savings Bank of China Co. Ltd. Class H (China)<sup>2</sup> | 1518 |
| 53219 | Raiffeisen Bank International AG (Austria) | 2682 |
| 113700 | SCB X PCL NVDR (Thailand)<sup>1</sup> | 489 |
| 484616 | Sharjah Islamic Bank (United Arab Emirates) | 471 |
| 6473 | Shinhan Financial Group Co. Ltd. (South Korea) | 378 |
| 433257 | Skandinaviska Enskilda Banken AB Class A (Sweden) | 9313 |
| 117911 | Societe Generale SA (France) | 10332 |
| 191851 | Standard Chartered PLC (United Kingdom) | 4909 |
| 461400 | Sumitomo Mitsui Financial Group, Inc. (Japan) | 16237 |
| 16700 | Sumitomo Mitsui Trust Group, Inc. (Japan) | 558 |
| 43347000 | TMBThanachart Bank PCL NVDR (Thailand)<sup>1</sup> | 2779 |
| 11100 | Towa Bank Ltd. (Japan) | 83 |
| 13700 | Yokohama Financial Group, Inc. (Japan) | 125 |
|  |  | 318439 |
| **BEVERAGES—0.0%** | **BEVERAGES—0.0%** | **BEVERAGES—0.0%** |
| 14638 | Ginebra San Miguel, Inc. (Philippines) | 72 |
| **BIOTECHNOLOGY—0.6%** | **BIOTECHNOLOGY—0.6%** | **BIOTECHNOLOGY—0.6%** |
| 799 | Argenx SE ADR (Netherlands)<sup>\*,1</sup> | 671 |
| 106889 | Bavarian Nordic AS (Denmark)<sup>\*</sup> | 3257 |
| 6102 | Bicycle Therapeutics PLC ADR (United Kingdom)<sup>\*,1</sup> | 39 |
| 14592 | Genmab AS (Denmark)<sup>\*</sup> | 4754 |
| 717 | Philogen SpA (Italy)<sup>\*,2</sup> | 18 |
|  |  | 8739 |
| **BROADLINE RETAIL—0.5%** | **BROADLINE RETAIL—0.5%** | **BROADLINE RETAIL—0.5%** |
| 175337 | Falabella SA (Chile) | 1361 |
| 56400 | JD.com, Inc. Class A (China) | 804 |
| 17134 | Kt alpha Co. Ltd. (South Korea) | 57 |
| 22269 | Next PLC (United Kingdom) | 4043 |
| 75639 | Vipshop Holdings Ltd. ADR (China)<sup>1</sup> | 1294 |
|  |  | 7559 |
| **BUILDING PRODUCTS—0.5%** | **BUILDING PRODUCTS—0.5%** | **BUILDING PRODUCTS—0.5%** |
| 300 | BRC Asia Ltd. (Singapore) | 1 |
| 55200 | Daikin Industries Ltd. (Japan) | 6615 |
| 14664 | Eurocell PLC (United Kingdom) | 25 |
| 366700 | SCG Decor PCL NVDR (Thailand)<sup>1</sup> | 57 |
|  |  | 6698 |
| **CAPITAL MARKETS—5.5%** | **CAPITAL MARKETS—5.5%** | **CAPITAL MARKETS—5.5%** |
| 10035 | Banca Generali SpA (Italy) | 676 |
| 14400 | Canaccord Genuity Group, Inc. (Canada) | 125 |
| 566521 | Deutsche Bank AG (Germany) | 22356 |
| 22318 | Euronext NV (Netherlands)<sup>2</sup> | 3126 |
| 9426 | Futu Holdings Ltd. ADR (Hong Kong)<sup>\*,1</sup> | 1532 |
| 1763 | HUB24 Ltd. (Australia) | 123 |
| 62600 | iFAST Corp. Ltd. (Singapore) | 519 |
| 205232 | Investec PLC (United Kingdom) | 1682 |
| 249900 | Japan Exchange Group, Inc. (Japan) | 2727 |
| 290000 | Nomura Holdings, Inc. (Japan) | 2628 |
| 506700 | Singapore Exchange Ltd. (Singapore) | 7021 |
| 735790 | UBS Group AG (Switzerland) | 34814 |

---

------

⬤

------

**Harbor International Core Fund**

**PORTFOLIO OF INVESTMENTS—Continued**

------

*Value and Cost in Thousands* 

---

| | | |
|:---|:---|:---|
| **COMMON STOCKS—Continued** | **COMMON STOCKS—Continued** | **COMMON STOCKS—Continued** |
| **Shares** |  | **Value** |
| **CAPITAL MARKETS—Continued** | **CAPITAL MARKETS—Continued** | **CAPITAL MARKETS—Continued** |
| 190000 | Value Partners Group Ltd. (Hong Kong) | $59 |
| 3119 | VIEL & Cie SA (France) | 67 |
| 309 | VP Bank AG Class A (Liechtenstein) | 34 |
| 7791 | XTB SA (Poland)<sup>2</sup> | 186 |
|  |  | 77675 |
| **CHEMICALS—0.4%** | **CHEMICALS—0.4%** | **CHEMICALS—0.4%** |
| 3300 | Achilles Corp. (Japan) | 31 |
| 814000 | D&L Industries, Inc. (Philippines) | 55 |
| 177004 | Dyno Nobel Ltd. (Australia) | 431 |
| 13446 | Grupa Azoty SA (Poland)<sup>\*</sup> | 67 |
| 2000 | Hodogaya Chemical Co. Ltd. (Japan) | 30 |
| 1937 | Kukdo Chemical Co. Ltd. (South Korea) | 49 |
| 2200 | Nippon Carbide Industries Co., Inc. (Japan) | 39 |
| 7100 | Riken Technos Corp. (Japan) | 77 |
| 265890 | Sasol Ltd. (South Africa)<sup>\*</sup> | 1878 |
| 5600 | Sekisui Kasei Co. Ltd. (Japan)<sup>\*</sup> | 15 |
| 4216 | Songwon Industrial Co. Ltd. (South Korea) | 27 |
| 3200 | Tayca Corp. (Japan) | 29 |
| 55027 | Yara International ASA (Brazil) | 2529 |
| 11200 | Zacros Corp. (Japan) | 84 |
|  |  | 5341 |
| **COMMERCIAL SERVICES & SUPPLIES—0.0%** | **COMMERCIAL SERVICES & SUPPLIES—0.0%** | **COMMERCIAL SERVICES & SUPPLIES—0.0%** |
| 800 | Ajis Co. Ltd. (Japan) | 16 |
| 4000 | Azienda Bresciana Petroli Nocivelli SpA (Italy) | 33 |
| 1074 | Cewe Stiftung & Co. KGaA (Germany) | 129 |
| 264 | Hargreaves Services PLC (United Kingdom) | 3 |
| 8961 | Mears Group PLC (United Kingdom) | 45 |
| 7282 | NICE Infra Co. Ltd. (South Korea) | 21 |
| 1900 | Sato Corp. (Japan) | 28 |
| 900 | Takara & Co. Ltd. (Japan) | 25 |
|  |  | 300 |
| **COMMUNICATIONS EQUIPMENT—1.5%** | **COMMUNICATIONS EQUIPMENT—1.5%** | **COMMUNICATIONS EQUIPMENT—1.5%** |
| 781900 | Addvalue Technologies Ltd. (Singapore)<sup>\*</sup> | 44 |
| 1712 | EVS Broadcast Equipment SA (Belgium) | 74 |
| 797 | Ituran Location & Control Ltd. (Israel) | 35 |
| 4882 | Nokia OYJ (Finland) | 31 |
| 340864 | Nokia OYJ ADR (Finland)<sup>1</sup> | 2192 |
| 1328577 | Telefonaktiebolaget LM Ericsson ADR (Sweden)<sup>1</sup> | 14349 |
| 428355 | Telefonaktiebolaget LM Ericsson Class B (Sweden) | 4639 |
| 2784 | Ubiquoss Holdings, Inc. (South Korea)<sup>\*</sup> | 21 |
|  |  | 21385 |
| **CONSTRUCTION & ENGINEERING—0.6%** | **CONSTRUCTION & ENGINEERING—0.6%** | **CONSTRUCTION & ENGINEERING—0.6%** |
| 4157 | AF Gruppen ASA (Norway) | 80 |
| 251270 | Analogue Holdings Ltd. (Hong Kong) | 32 |
| 13188 | Boustead Singapore Ltd. (Singapore) | 20 |
| 39920 | Bouygues SA (France) | 2158 |
| 5000 | Dai-Ichi Cutter Kogyo KK (Japan) | 44 |
| 11595 | Eiffage SA (France) | 1720 |
| 19918 | GenusPlus Group Ltd. (Australia) | 103 |
| 7440 | HOCHTIEF AG (Germany) | 3120 |
| 258 | Per Aarsleff Holding AS (Denmark) | 37 |
| 44380 | Service Stream Ltd. (Australia) | 70 |
| 15568 | Symal Group Ltd. (Australia) | 35 |
| 1500 | Ueki Corp. (Japan) | 28 |
| 811700 | Wee Hur Holdings Ltd. (Singapore) | 568 |
|  |  | 8015 |
| **CONSTRUCTION MATERIALS—0.2%** | **CONSTRUCTION MATERIALS—0.2%** | **CONSTRUCTION MATERIALS—0.2%** |
| 151097 | Cemex SAB de CV (Mexico) | 188 |
| 99257 | Cemex SAB de CV ADR (Mexico)<sup>1</sup> | 1239 |
| 642000 | China National Building Material Co. Ltd. Class H (China) | 462 |

---

---

| | | |
|:---|:---|:---|
| **COMMON STOCKS—Continued** | **COMMON STOCKS—Continued** | **COMMON STOCKS—Continued** |
| **Shares** |  | **Value** |
| **CONSTRUCTION MATERIALS—Continued** | **CONSTRUCTION MATERIALS—Continued** | **CONSTRUCTION MATERIALS—Continued** |
| 3447 | Titan SA (United States) | $232 |
|  |  | 2121 |
| **CONSUMER FINANCE—0.0%** | **CONSUMER FINANCE—0.0%** | **CONSUMER FINANCE—0.0%** |
| 15000 | Hong Leong Finance Ltd. (Singapore) | 32 |
| 103468 | LexinFintech Holdings Ltd. ADR (China)<sup>1</sup> | 295 |
| 102000 | Sun Hung Kai & Co. Ltd. (Hong Kong) | 56 |
|  |  | 383 |
| **CONSUMER STAPLES DISTRIBUTION & RETAIL—1.8%** | **CONSUMER STAPLES DISTRIBUTION & RETAIL—1.8%** | **CONSUMER STAPLES DISTRIBUTION & RETAIL—1.8%** |
| 128403 | Jeronimo Martins SGPS SA (Portugal) | 3028 |
| 549014 | Koninklijke Ahold Delhaize NV (Netherlands) | 21467 |
| 7200 | Medical System Network Co. Ltd. (Japan) | 24 |
| 3600 | Orsero SpA (Italy) | 83 |
| 6600 | Robinsons Retail Holdings, Inc. (Philippines) | 4 |
| 95540 | Tesco PLC (United Kingdom) | 556 |
|  |  | 25162 |
| **CONTAINERS & PACKAGING—0.0%** | **CONTAINERS & PACKAGING—0.0%** | **CONTAINERS & PACKAGING—0.0%** |
| 9900 | Thantawan Industry PCL NVDR (Thailand)<sup>1</sup> | 7 |
| **DISTRIBUTORS—0.0%** | **DISTRIBUTORS—0.0%** | **DISTRIBUTORS—0.0%** |
| 52861 | Smiths News PLC (United Kingdom) | 49 |
| **DIVERSIFIED CONSUMER SERVICES—0.1%** | **DIVERSIFIED CONSUMER SERVICES—0.1%** | **DIVERSIFIED CONSUMER SERVICES—0.1%** |
| 2300 | Aucnet, Inc. (Japan) | 31 |
| 820000 | China Education Group Holdings Ltd. (China) | 319 |
| 202000 | China New Higher Education Group Ltd. (China)<sup>\*,2</sup> | 23 |
| 1494000 | China Yuhua Education Corp. Ltd. (China)<sup>\*,2</sup> | 107 |
| 12858 | D2L, Inc. (Canada)<sup>\*</sup> | 103 |
| 132000 | Edvantage Group Holdings Ltd. (China) | 25 |
| 834500 | Fenbi Ltd. (Hong Kong)<sup>\*</sup> | 232 |
| 4376 | MegaStudyEdu Co. Ltd. (South Korea)<sup>\*</sup> | 141 |
| 99500 | SISB PCL NVDR (Thailand)<sup>1</sup> | 33 |
|  |  | 1014 |
| **DIVERSIFIED TELECOMMUNICATION SERVICES—0.7%** | **DIVERSIFIED TELECOMMUNICATION SERVICES—0.7%** | **DIVERSIFIED TELECOMMUNICATION SERVICES—0.7%** |
| 389699 | &nbsp;&nbsp;&nbsp;&nbsp; Emirates Telecommunications Group Co. PJSC (United Arab <br> Emirates)<br>| 2090 |
| 106096 | Hellenic Telecommunications Organization SA (Greece) | 1990 |
| 28585 | KT Corp. ADR (South Korea)<sup>1</sup> | 598 |
| 11830 | LG Uplus Corp. (South Korea) | 131 |
| 2300 | Quebecor, Inc. Class B (Canada) | 84 |
| 1151300 | Singapore Telecommunications Ltd. (Singapore) | 4155 |
| 188290 | Telia Co. AB (Sweden) | 860 |
|  |  | 9908 |
| **ELECTRIC UTILITIES—0.3%** | **ELECTRIC UTILITIES—0.3%** | **ELECTRIC UTILITIES—0.3%** |
| 1357 | CEZ AS (Czech Republic) | 78 |
| 481 | Electricite de Strasbourg SA (France) | 124 |
| 98917 | Endesa SA (Spain) | 3652 |
| 171278 | PGE Polska Grupa Energetyczna SA (Poland)<sup>\*</sup> | 483 |
|  |  | 4337 |
| **ELECTRICAL EQUIPMENT—2.8%** | **ELECTRICAL EQUIPMENT—2.8%** | **ELECTRICAL EQUIPMENT—2.8%** |
| 434835 | ABB Ltd. (Switzerland) | 37438 |
| 94299 | &nbsp;&nbsp;&nbsp;&nbsp; China High Speed Transmission Equipment Group Co. Ltd. (Hong <br> Kong)<sup>\*</sup><br>| 22 |
| 5600 | Chiyoda Integre Co. Ltd. (Japan) | 120 |
| 124300 | ISDN Holdings Ltd. (China) | 39 |
| 1654 | Korea Electric Terminal Co. Ltd. (South Korea) | 86 |
| 1986 | Siemens Energy AG (Germany)<sup>\*</sup> | 338 |
| 62708 | Vestas Wind Systems AS (Denmark) | 1901 |
| 51000 | Xingye Alloy Materials Group Ltd. (China)<sup>\*</sup> | 7 |
|  |  | 39951 |

---

------

⬤

------

**Harbor International Core Fund**

**PORTFOLIO OF INVESTMENTS—Continued**

------

*Value and Cost in Thousands* 

---

| | | |
|:---|:---|:---|
| **COMMON STOCKS—Continued** | **COMMON STOCKS—Continued** | **COMMON STOCKS—Continued** |
| **Shares** |  | **Value** |
| **ELECTRONIC EQUIPMENT, INSTRUMENTS & COMPONENTS—1.0%** | **ELECTRONIC EQUIPMENT, INSTRUMENTS & COMPONENTS—1.0%** | **ELECTRONIC EQUIPMENT, INSTRUMENTS & COMPONENTS—1.0%** |
| 2500 | A&D HOLON Holdings Co. Ltd. (Japan) | $37 |
| 44700 | Allied Tecnologia SA (Brazil) | 71 |
| 70000 | Aztech Global Ltd. (Singapore) | 36 |
| 11637 | Barco NV (Belgium) | 160 |
| 2031 | Berner Industrier AB (Sweden) | 22 |
| 117000 | BOE Varitronix Ltd. (China) | 73 |
| 27545 | Codan Ltd. (Australia) | 725 |
| 4600 | Daitron Co. Ltd. (Japan) | 75 |
| 77905 | DataTec Ltd. (South Africa) | 369 |
| 2474 | Detection Technology OYJ (Finland) | 31 |
| 1000 | Enplas Corp. (Japan) | 59 |
| 6765 | Hon Hai Precision Industry Co. Ltd. GDR (Taiwan)<sup>1</sup> | 94 |
| 6899 | Interflex Co. Ltd. (South Korea)<sup>\*</sup> | 59 |
| 14482 | LG Innotek Co. Ltd. (South Korea) | 2459 |
| 144700 | Murata Manufacturing Co. Ltd. (Japan) | 2940 |
| 20541 | Namuga Co. Ltd. (South Korea)<sup>\*</sup> | 356 |
| 2700 | Nihon Denkei Co. Ltd. (Japan) | 41 |
| 10900 | Nissha Co. Ltd. (Japan) | 88 |
| 4200 | Ohara, Inc. (Japan) | 29 |
| 6300 | Omron Corp. (Japan) | 161 |
| 104000 | PAX Global Technology Ltd. (Hong Kong) | 66 |
| 1700 | SEMITEC Corp. (Japan) | 26 |
| 6100 | Shinko Shoji Co. Ltd. (Japan) | 43 |
| 2700 | SMK Corp. (Japan) | 49 |
| 218800 | TDK Corp. (Japan) | 2823 |
| 25633 | Tovis Co. Ltd. (South Korea) | 277 |
| 186000 | Truly International Holdings Ltd. (Hong Kong) | 24 |
| 157500 | Venture Corp. Ltd. (Singapore) | 2023 |
| 20692 | WiSoL Co. Ltd. (South Korea) | 88 |
| 11500 | Yokogawa Electric Corp. (Japan) | 383 |
|  |  | 13687 |
| **ENERGY EQUIPMENT & SERVICES—0.2%** | **ENERGY EQUIPMENT & SERVICES—0.2%** | **ENERGY EQUIPMENT & SERVICES—0.2%** |
| 48342 | Deep Value Driller AS (Norway) | 109 |
| 34656 | Enerflex Ltd. (Canada) | 636 |
| 32400 | Pason Systems, Inc. (Canada) | 287 |
| 23013 | PHX Energy Services Corp. (Canada) | 142 |
| 8400 | Source Energy Services Ltd. (Canada)<sup>\*</sup> | 107 |
| 9418 | Technip Energies NV (France) | 369 |
| 21133 | Tenaris SA (United States) | 469 |
| 146600 | Wasco Bhd. (Malaysia) | 34 |
|  |  | 2153 |
| **ENTERTAINMENT—1.3%** | **ENTERTAINMENT—1.3%** | **ENTERTAINMENT—1.3%** |
| 122000 | Archosaur Games, Inc. (China)<sup>\*,2</sup> | 26 |
| 7588 | Borussia Dortmund GmbH & Co. KGaA (Germany) | 29 |
| 22046 | CD Projekt SA (Poland) | 1609 |
| 3049 | Devsisters Co. Ltd. (South Korea)<sup>\*</sup> | 81 |
| 2051 | DoubleDown Interactive Co. Ltd. ADR (South Korea)<sup>\*,1</sup> | 17 |
| 23961 | Gaming Realms PLC (United Kingdom)<sup>\*</sup> | 13 |
| 22879 | IGG, Inc. (Singapore) | 11 |
| 164400 | Major Cineplex Group PCL NVDR (Thailand)<sup>1</sup> | 35 |
| 4353 | NCSoft Corp. (South Korea) | 708 |
| 4859 | Neowiz (South Korea)<sup>\*</sup> | 103 |
| 126100 | NetEase, Inc. (China) | 3270 |
| 86700 | Nexon Co. Ltd. (Japan) | 2074 |
| 18614 | Spotify Technology SA (United States)<sup>\*</sup> | 9314 |
| 2718 | TEN Square Games SA (Poland) | 88 |
| 128600 | XD, Inc. (China) | 1412 |
|  |  | 18790 |
| **FINANCIAL SERVICES—0.2%** | **FINANCIAL SERVICES—0.2%** | **FINANCIAL SERVICES—0.2%** |
| 69250 | Banca Mediolanum SpA (Italy) | 1624 |
| 2105 | Generalfinance SpA (Italy) | 61 |
| 332000 | Haitong UniTrust International Leasing Co. Ltd. Class H (China)<sup>2</sup> | 34 |
| 2561 | HAL Trust (Netherlands) | 473 |
| 114913 | M&G PLC (United Kingdom) | 487 |

---

---

| | | |
|:---|:---|:---|
| **COMMON STOCKS—Continued** | **COMMON STOCKS—Continued** | **COMMON STOCKS—Continued** |
| **Shares** |  | **Value** |
| **FINANCIAL SERVICES—Continued** | **FINANCIAL SERVICES—Continued** | **FINANCIAL SERVICES—Continued** |
| 95700 | Pacific Century Regional Developments Ltd. (Singapore) | $37 |
|  |  | 2716 |
| **FOOD PRODUCTS—0.1%** | **FOOD PRODUCTS—0.1%** | **FOOD PRODUCTS—0.1%** |
| 29736 | Astral Foods Ltd. (South Africa) | 505 |
| 228100 | CAB Cakaran Corp. Bhd. (Malaysia) | 34 |
| 78000 | CCK Consolidated Holdings Bhd. (Malaysia) | 27 |
| 1500000 | China Starch Holdings Ltd. (China) | 35 |
| 9063 | Easy Holdings Co. Ltd. (South Korea)<sup>\*</sup> | 33 |
| 24300 | First Resources Ltd. (Indonesia) | 41 |
| 370300 | Hap Seng Plantations Holdings Bhd. (Malaysia) | 214 |
| 58700 | Kawan Food Bhd. (Malaysia) | 14 |
| 1600 | Kenko Mayonnaise Co. Ltd. (Japan) | 21 |
| 561 | Maeil Holdings Co. Ltd. (South Korea)<sup>\*</sup> | 4 |
| 528800 | Malindo Feedmill Tbk. PT (Indonesia) | 24 |
| 191200 | MKH Oil Palm East Kalimantan Bhd. (Malaysia) | 30 |
| 811600 | Salim Ivomas Pratama Tbk. PT (Indonesia) | 27 |
| 98600 | Sarawak Plantation Bhd. (Malaysia) | 87 |
| 210100 | SD Guthrie Bhd. (Malaysia) | 311 |
| 417 | Societe LDC SADIR (France) | 47 |
| 690500 | Ultrajaya Milk Industry & Trading Co. Tbk. PT (Indonesia) | 62 |
|  |  | 1516 |
| **GAS UTILITIES—0.0%** | **GAS UTILITIES—0.0%** | **GAS UTILITIES—0.0%** |
| 16415 | Naturgy Energy Group SA (Spain) | 515 |
| 644700 | Perusahaan Gas Negara Tbk. PT (Indonesia) | 82 |
|  |  | 597 |
| **GROUND TRANSPORTATION—0.0%** | **GROUND TRANSPORTATION—0.0%** | **GROUND TRANSPORTATION—0.0%** |
| 341700 | &nbsp;&nbsp;&nbsp;&nbsp; BTS Rail Mass Transit Growth Infrastructure Fund Class F <br> (Thailand)<br>| 28 |
| 14200 | SBS Transit Ltd. (Singapore) | 37 |
|  |  | 65 |
| **HEALTH CARE EQUIPMENT & SUPPLIES—1.0%** | **HEALTH CARE EQUIPMENT & SUPPLIES—1.0%** | **HEALTH CARE EQUIPMENT & SUPPLIES—1.0%** |
| 91250 | &nbsp;&nbsp;&nbsp;&nbsp; Beijing Chunlizhengda Medical Instruments Co. Ltd. Class H <br> (China)<br>| 166 |
| 4941 | El.En. SpA (Italy) | 81 |
| 136956 | Fisher & Paykel Healthcare Corp. Ltd. (New Zealand) | 3199 |
| 1500 | Fukuda Denshi Co. Ltd. (Japan) | 82 |
| 14700 | Hoya Corp. (Japan) | 2466 |
| 4608 | Ion Beam Applications (Belgium) | 83 |
| 27906 | Koninklijke Philips NV (Netherlands) | 802 |
| 7500 | Shofu, Inc. (Japan) | 89 |
| 765200 | Sysmex Corp. (Japan) | 7241 |
| 37700 | Terumo Corp. (Japan) | 493 |
| 4030 | Vieworks Co. Ltd. (South Korea)<sup>\*</sup> | 79 |
|  |  | 14781 |
| **HEALTH CARE PROVIDERS & SERVICES—0.6%** | **HEALTH CARE PROVIDERS & SERVICES—0.6%** | **HEALTH CARE PROVIDERS & SERVICES—0.6%** |
| 7814 | Fresenius Medical Care AG (Germany) | 352 |
| 117094 | Fresenius SE & Co. KGaA (Germany) | 6550 |
| 3687 | Galenica AG (Switzerland)<sup>2</sup> | 461 |
| 19831 | Humana AB (Sweden) | 106 |
| 4800 | Japan Medical Dynamic Marketing, Inc. (Japan) | 15 |
| 47000 | Ladprao General Hospital PCL NVDR (Thailand)<sup>1</sup> | 6 |
| 2424 | Oriola OYJ Class B (Finland) | 3 |
| 76178 | Regis Healthcare Ltd. (Australia) | 357 |
|  |  | 7850 |
| **HEALTH CARE TECHNOLOGY—0.3%** | **HEALTH CARE TECHNOLOGY—0.3%** | **HEALTH CARE TECHNOLOGY—0.3%** |
| 21561 | Ascom Holding AG (Switzerland) | 150 |
| 26821 | Pro Medicus Ltd. (Australia) | 3429 |
|  |  | 3579 |
| **HOTELS, RESTAURANTS & LEISURE—1.4%** | **HOTELS, RESTAURANTS & LEISURE—1.4%** | **HOTELS, RESTAURANTS & LEISURE—1.4%** |
| 28800 | Airtrip Corp. (Japan) | 138 |

---

------

⬤

------

**Harbor International Core Fund**

**PORTFOLIO OF INVESTMENTS—Continued**

------

*Value and Cost in Thousands* 

---

| | | |
|:---|:---|:---|
| **COMMON STOCKS—Continued** | **COMMON STOCKS—Continued** | **COMMON STOCKS—Continued** |
| **Shares** |  | **Value** |
| **HOTELS, RESTAURANTS & LEISURE—Continued** | **HOTELS, RESTAURANTS & LEISURE—Continued** | **HOTELS, RESTAURANTS & LEISURE—Continued** |
| 350065 | Aristocrat Leisure Ltd. (Australia) | $13005 |
| 172614 | Carnival PLC ADR (United States)<sup>\*,1</sup> | 5142 |
| 400400 | Champ Resto Indonesia Tbk. PT (Indonesia)<sup>\*</sup> | 13 |
| 9128 | Fuller Smith & Turner PLC Class A (United Kingdom) | 84 |
| 944 | Ibersol SGPS SA (Portugal) | 12 |
| 83100 | Jaya Bersama Indo Tbk. PT (Indonesia)<sup>\*</sup> | — <br><sup>x</sup><br>|
| 1580 | Lastminute.com NV (Switzerland) | 29 |
| 608200 | Minor International PCL NVDR (Thailand)<sup>1</sup> | 441 |
| 3707 | Modetour Network, Inc. (South Korea)<sup>\*</sup> | 29 |
| 1727 | Nordrest Holding AB (Sweden) | 49 |
| 93184 | SATS ASA (Norway) | 388 |
| 50649 | Tabcorp Holdings Ltd. (Australia) | 31 |
| 237500 | &nbsp;&nbsp;&nbsp;&nbsp; Xiabuxiabu Catering Management China Holdings Co. Ltd. <br> (China)<sup>\*,2</sup><br>| 23 |
| 1400 | Yossix Holdings Co. Ltd. (Japan) | 29 |
| 55600 | Zen Corp. Group PCL NVDR (Thailand)<sup>1</sup> | 11 |
|  |  | 19424 |
| **HOUSEHOLD DURABLES—1.1%** | **HOUSEHOLD DURABLES—1.1%** | **HOUSEHOLD DURABLES—1.1%** |
| 107600 | Chervon Holdings Ltd. (China) | 333 |
| 5 | Dom Development SA (Poland) |  |
| 94044 | LG Electronics, Inc. (South Korea) | 6448 |
| 843 | Nihon Trim Co. Ltd. (Japan) | 26 |
| 415400 | Sony Group Corp. (Japan) | 9159 |
| 15712 | Viomi Technology Co. Ltd. ADR (China)<sup>1</sup> | 21 |
| 3608 | Zinus, Inc. (South Korea) | 31 |
|  |  | 16018 |
| **HOUSEHOLD PRODUCTS—0.0%** | **HOUSEHOLD PRODUCTS—0.0%** | **HOUSEHOLD PRODUCTS—0.0%** |
| 247700 | Unilever Indonesia Tbk. PT (Indonesia) | 29 |
| **INDEPENDENT POWER AND RENEWABLE ELECTRICITY PRODUCERS—0.0%** | **INDEPENDENT POWER AND RENEWABLE ELECTRICITY PRODUCERS—0.0%** | **INDEPENDENT POWER AND RENEWABLE ELECTRICITY PRODUCERS—0.0%** |
| 8700 | Polaris Renewable Energy, Inc. (Canada) | 78 |
| **INDUSTRIAL CONGLOMERATES—0.0%** | **INDUSTRIAL CONGLOMERATES—0.0%** | **INDUSTRIAL CONGLOMERATES—0.0%** |
| 1248 | AntarChile SA (Chile) | 12 |
| 4301 | Bonheur ASA (Norway) | 113 |
| 1941 | LG Corp. (South Korea) | 123 |
| 530900 | LT Group, Inc. (Philippines) | 144 |
|  |  | 392 |
| **INSURANCE—2.6%** | **INSURANCE—2.6%** | **INSURANCE—2.6%** |
| 11000 | Allianz Malaysia Bhd. (Malaysia) | 64 |
| 148800 | Bangkok Life Assurance PCL NVDR (Thailand)<sup>1</sup> | 101 |
| 446900 | Dai-ichi Life Holdings, Inc. (Japan) | 3930 |
| 35836 | Doha Insurance Co. QSC (Qatar) | 27 |
| 5540 | Hyundai Marine & Fire Insurance Co. Ltd. (South Korea)<sup>\*</sup> | 108 |
| 6300 | iA Financial Corp., Inc. (Canada) | 774 |
| 1062900 | Japan Post Holdings Co. Ltd. (Japan) | 12790 |
| 2500 | Japan Post Insurance Co. Ltd. (Japan) | 77 |
| 60900 | MS&AD Insurance Group Holdings, Inc. (Japan) | 1552 |
| 133434 | NN Group NV (Netherlands) | 10577 |
| 35300 | Sompo Holdings, Inc. (Japan) | 1217 |
| 443500 | Sunshine Insurance Group Co. Ltd. Class H (China) | 241 |
| 152600 | Tokio Marine Holdings, Inc. (Japan) | 5688 |
|  |  | 37146 |
| **INTERACTIVE MEDIA & SERVICES—0.8%** | **INTERACTIVE MEDIA & SERVICES—0.8%** | **INTERACTIVE MEDIA & SERVICES—0.8%** |
| 29120 | Bilibili, Inc. Class Z (China)<sup>\*</sup> | 998 |
| 2833 | JOYY, Inc. ADR (China)<sup>1</sup> | 182 |
| 740100 | Kuaishou Technology (China)<sup>2</sup> | 7562 |
| 81100 | LIFULL Co. Ltd. (Japan) | 92 |
| 372700 | LY Corp. (Japan) | 954 |
| 2000 | MarkLines Co. Ltd. (Japan) | 20 |
| 87718 | Rightmove PLC (United Kingdom) | 594 |
| 6945 | Scout24 SE (Germany)<sup>2</sup> | 692 |
| 7100 | Sharingtechnology, Inc. (Japan) | 53 |
| 83431 | Yalla Group Ltd. ADR (United Arab Emirates)<sup>\*,1</sup> | 588 |

---

---

| | | |
|:---|:---|:---|
| **COMMON STOCKS—Continued** | **COMMON STOCKS—Continued** | **COMMON STOCKS—Continued** |
| **Shares** |  | **Value** |
| **INTERACTIVE MEDIA & SERVICES—Continued** | **INTERACTIVE MEDIA & SERVICES—Continued** | **INTERACTIVE MEDIA & SERVICES—Continued** |
| 31054 | Zhihu, Inc. ADR (China)<sup>\*,1</sup> | $117 |
| 11700 | ZIGExN Co. Ltd. (Japan) | 36 |
|  |  | 11888 |
| **IT SERVICES—1.4%** | **IT SERVICES—1.4%** | **IT SERVICES—1.4%** |
| 31828 | Atea ASA (Sweden) | 509 |
| 4700 | Avant Group Corp. (Japan) | 50 |
| 1400 | Base Co. Ltd. (Japan) | 28 |
| 8000 | CAC Holdings Corp. (Japan) | 104 |
| 22500 | Comture Corp. (Japan) | 236 |
| 4200 | Core Corp. (Japan) | 62 |
| 6800 | Digital Hearts Holdings Co. Ltd. (Japan) | 40 |
| 185700 | Fujitsu Ltd. (Japan) | 5160 |
| 3800 | GMO GlobalSign Holdings KK (Japan) | 55 |
| 6700 | Hennge KK (Japan) | 50 |
| 2600 | ID Holdings Corp. (Japan) | 34 |
| 418000 | Mastersystem Infotama PT (Indonesia) | 34 |
| 35100 | NEC Corp. (Japan) | 1190 |
| 867 | Neurones (France) | 41 |
| 65900 | Obic Co. Ltd. (Japan) | 1832 |
| 5500 | Oro Co. Ltd. (Japan) | 75 |
| 220200 | Otsuka Corp. (Japan) | 4366 |
| 2500 | SERAKU Co. Ltd. (Japan) | 27 |
| 1900 | Serverworks Co. Ltd. (Japan)<sup>\*</sup> | 25 |
| 9200 | Sun\*, Inc. (Japan)<sup>\*</sup> | 27 |
| 44100 | TIS, Inc. (Japan) | 1283 |
| 1794 | Trifork Group AG (Denmark)<sup>\*</sup> | 27 |
| 4200 | Ubicom Holdings, Inc. (Japan) | 28 |
| 60561 | Wix.com Ltd. (Israel)<sup>\*</sup> | 5259 |
| 700 | Zuken, Inc. (Japan) | 22 |
|  |  | 20564 |
| **LEISURE PRODUCTS—0.0%** | **LEISURE PRODUCTS—0.0%** | **LEISURE PRODUCTS—0.0%** |
| 206000 | Goodbaby International Holdings Ltd. (China) | 28 |
| 3000 | Sankyo Co. Ltd. (Japan) | 47 |
|  |  | 75 |
| **LIFE SCIENCES TOOLS & SERVICES—0.0%** | **LIFE SCIENCES TOOLS & SERVICES—0.0%** | **LIFE SCIENCES TOOLS & SERVICES—0.0%** |
| 4273 | Fine Foods & Pharmaceuticals NTM (Italy) | 51 |
| **MACHINERY—3.2%** | **MACHINERY—3.2%** | **MACHINERY—3.2%** |
| 6302 | China Yuchai International Ltd. (China) | 286 |
| 92000 | CIMC Enric Holdings Ltd. (China) | 130 |
| 2101 | Construcciones y Auxiliar de Ferrocarriles SA (Spain) | 140 |
| 8382 | Daechang Forging Co. Ltd. (South Korea)<sup>\*</sup> | 39 |
| 931 | Danieli & C Officine Meccaniche SpA (Italy) | 69 |
| 2156 | Duerr AG (Germany) | 57 |
| 10390 | DY POWER Corp. (South Korea) | 94 |
| 41882 | GEA Group AG (Germany) | 2995 |
| 74439 | Heidelberger Druckmaschinen AG (Germany)<sup>\*</sup> | 162 |
| 185900 | Hong Leong Asia Ltd. (Singapore) | 502 |
| 5008 | Knorr-Bremse AG (Germany) | 583 |
| 144141 | Kone OYJ Class B (Finland) | 10359 |
| 61989 | Metso OYJ (Finland) | 1212 |
| 2200 | Nitto Kohki Co. Ltd. (Japan) | 27 |
| 371 | Palfinger AG (Austria) | 16 |
| 2500 | Rheon Automatic Machinery Co. Ltd. (Japan) | 25 |
| 35447 | Sandvik AB (Sweden) | 1400 |
| 76000 | Sany Heavy Equipment International Holdings Co. Ltd. (China) | 117 |
| 26741 | Schindler Holding AG (Switzerland) | 10318 |
| 3700 | Shima Seiki Manufacturing Ltd. (Japan) | 24 |
| 12052 | SIMPAC, Inc. (South Korea)<sup>\*</sup> | 41 |
| 5800 | SMC Corp. (Japan) | 2255 |
| 4700 | Sodick Co. Ltd. (Japan) | 32 |
| 59000 | Techtronic Industries Co. Ltd. (Hong Kong) | 805 |
| 191134 | Tesmec SpA (Italy)<sup>\*</sup> | 37 |
| 252204 | Wartsila OYJ Abp (Finland) | 10224 |

---

------

⬤

------

**Harbor International Core Fund**

**PORTFOLIO OF INVESTMENTS—Continued**

------

*Value and Cost in Thousands* 

---

| | | |
|:---|:---|:---|
| **COMMON STOCKS—Continued** | **COMMON STOCKS—Continued** | **COMMON STOCKS—Continued** |
| **Shares** |  | **Value** |
| **MACHINERY—Continued** | **MACHINERY—Continued** | **MACHINERY—Continued** |
| 808000 | Weichai Power Co. Ltd. Class H (China) | $2739 |
| 52300 | Yangzijiang Shipbuilding Holdings Ltd. (China) | 137 |
|  |  | 44825 |
| **MARINE TRANSPORTATION—0.7%** | **MARINE TRANSPORTATION—0.7%** | **MARINE TRANSPORTATION—0.7%** |
| 3092 | AP Moller - Maersk AS Class B (Denmark) | 7646 |
| 70874 | Costamare, Inc. (Monaco) | 1189 |
| 3617 | Danaos Corp. (Greece) | 374 |
| 1762 | Euroseas Ltd. (Greece) | 101 |
| 674000 | Marco Polo Marine Ltd. (Singapore) | 80 |
| 341700 | Samudera Shipping Line Ltd. (Singapore) | 298 |
| 236000 | SITC International Holdings Co. Ltd. (China) | 881 |
|  |  | 10569 |
| **MEDIA—0.1%** | **MEDIA—0.1%** | **MEDIA—0.1%** |
| 9526 | Alter Ego Media SA (Greece) | 70 |
| 28607 | Arnoldo Mondadori Editore SpA (Italy) | 72 |
| 6846 | Criteo SA ADR (France)<sup>\*,1</sup> | 131 |
| 741 | KT Millie Seojae Co. Ltd. (South Korea)<sup>\*</sup> | 7 |
| 4447 | Lagardere SA (France) | 100 |
| 27388 | LG HelloVision Co. Ltd. (South Korea)<sup>\*</sup> | 44 |
| 3200 | Members Co. Ltd. (Japan) | 29 |
| 588 | NZME Ltd. (New Zealand) | 1 |
| 222443 | Pico Far East Holdings Ltd. (Hong Kong) | 80 |
| 33805 | PRT Co. Ltd. (Australia)<sup>\*</sup> | — <br><sup>x</sup><br>|
| 41048 | Woongjin Thinkbig Co. Ltd. (South Korea) | 34 |
| 85000 | Xiamen Jihong Technology Co. Ltd. Class H (China) | 171 |
| 12700 | Zenrin Co. Ltd. (Japan) | 86 |
|  |  | 825 |
| **METALS & MINING—4.9%** | **METALS & MINING—4.9%** | **METALS & MINING—4.9%** |
| 136000 | Aluminum Corp. of China Ltd. Class H (China) | 238 |
| 40700 | Amerigo Resources Ltd. (Canada) | 166 |
| 18085 | Anglogold Ashanti PLC (United Kingdom) | 1680 |
| 262300 | B2Gold Corp. (Canada) | 1277 |
| 41570 | BHP Group Ltd. (Australia) | 1432 |
| 93042 | BlueScope Steel Ltd. (Australia) | 1942 |
| 306265 | Boliden AB (Sweden)<sup>\*</sup> | 21447 |
| 17930 | Capital Ltd. (Mauritius) | 32 |
| 226426 | Capricorn Metals Ltd. (Australia)<sup>\*</sup> | 2121 |
| 86400 | Capstone Copper Corp. (Canada)<sup>\*</sup> | 958 |
| 11720 | Centerra Gold, Inc. (Canada) | 196 |
| 102695 | Central Asia Metals PLC (United Kingdom) | 314 |
| 152983 | CMOC Group Ltd. Class H (China) | 430 |
| 10951 | Dongkuk Holdings Co. Ltd. (South Korea) | 58 |
| 19678 | Dynacor Group, Inc. (Canada) | 88 |
| 29478 | ElvalHalcor SA (Greece) | 162 |
| 33645 | Endeavour Mining PLC (Ivory Coast) | 1915 |
| 198804 | Evolution Mining Ltd. (Australia) | 1909 |
| 400979 | Fortuna Mining Corp. (Canada)<sup>\*</sup> | 3923 |
| 28883 | Fresnillo PLC (Mexico) | 1422 |
| 171248 | Genesis Minerals Ltd. (Australia)<sup>\*</sup> | 846 |
| 587250 | Grange Resources Ltd. (Australia)<sup>\*</sup> | 105 |
| 96409 | Harmony Gold Mining Co. Ltd. ADR (South Africa)<sup>1</sup> | 2057 |
| 198900 | Hudbay Minerals, Inc. (Canada) | 4711 |
| 22809 | KG Chemical Corp. (South Korea)<sup>\*</sup> | 94 |
| 12032 | KG Dongbusteel (South Korea) | 47 |
| 15931 | KG Eco Solution Co. Ltd. (South Korea)<sup>\*</sup> | 73 |
| 57068 | KGHM Polska Miedz SA (Poland)<sup>\*</sup> | 5295 |
| 67898 | Kumba Iron Ore Ltd. (South Africa) | 1506 |
| 177871 | Macmahon Holdings Ltd. (Australia) | 80 |
| 3000 | Mitsubishi Steel Manufacturing Co. Ltd. (Japan) | 36 |
| 21800 | Nakayama Steel Works Ltd. (Japan) | 89 |
| 3053 | Nexa Resources SA (Brazil) | 39 |
| 1314000 | Nickel Asia Corp. (Philippines) | 120 |
| 683483 | Norsk Hydro ASA (Norway) | 6068 |
| 397400 | OceanaGold Philippines, Inc. (Philippines) | 244 |

---

---

| | | |
|:---|:---|:---|
| **COMMON STOCKS—Continued** | **COMMON STOCKS—Continued** | **COMMON STOCKS—Continued** |
| **Shares** |  | **Value** |
| **METALS & MINING—Continued** | **METALS & MINING—Continued** | **METALS & MINING—Continued** |
| 35973 | Perenti Ltd. (Australia) | $69 |
| 100081 | Perseus Mining Ltd. (Australia) | 385 |
| 301262 | Sibanye Stillwater Ltd. (South Africa)<sup>\*</sup> | 1311 |
| 7738 | Sibanye Stillwater Ltd. ADR (South Africa)<sup>\*,1</sup> | 131 |
| 1459029 | South32 Ltd. (Australia) | 4622 |
| 44413 | Thor Explorations Ltd. (Canada) | 51 |
| 88 | Tree Island Steel Ltd. (Canada) |  |
| 123409 | Vault Minerals Ltd. (Australia)<sup>\*</sup> | 472 |
| 46000 | Volcan Cia Minera SAA Class B (Peru)<sup>\*</sup> | 11 |
|  |  | 70172 |
| **MULTI-UTILITIES—0.6%** | **MULTI-UTILITIES—0.6%** | **MULTI-UTILITIES—0.6%** |
| 131343 | A2A SpA (Italy) | 396 |
| 1354218 | Centrica PLC (United Kingdom) | 3546 |
| 24682 | Engie SA (France) | 737 |
| 904363 | Hera SpA (Italy) | 4476 |
|  |  | 9155 |
| **OFFICE REITS—0.0%** | **OFFICE REITS—0.0%** | **OFFICE REITS—0.0%** |
| 16075 | Helical PLC (United Kingdom) | 42 |
| **OIL, GAS & CONSUMABLE FUELS—4.3%** | **OIL, GAS & CONSUMABLE FUELS—4.3%** | **OIL, GAS & CONSUMABLE FUELS—4.3%** |
| 2358400 | Alamtri Resources Indonesia Tbk. PT (Indonesia) | 310 |
| 87000 | Bangchak Corp. PCL NVDR (Thailand)<sup>1</sup> | 84 |
| 270500 | Baramulti Suksessarana Tbk. PT (Indonesia) | 63 |
| 12500 | Bonterra Energy Corp. (Canada)<sup>\*</sup> | 46 |
| 534661 | BP PLC ADR (United States)<sup>1</sup> | 20253 |
| 853800 | ENEOS Holdings, Inc. (Japan) | 7216 |
| 48534 | Eni SpA (Italy) | 992 |
| 4096 | Gaztransport Et Technigaz SA (France) | 882 |
| 41848 | Hafnia Ltd. (Singapore) | 257 |
| 30585 | HELLENiQ ENERGY Holdings SA (Greece) | 329 |
| 130700 | Hibiscus Petroleum Bhd. (Malaysia) | 52 |
| 507155 | Horizon Oil Ltd. (Australia) | 79 |
| 368400 | Idemitsu Kosan Co. Ltd. (Japan) | 3126 |
| 49300 | Journey Energy, Inc. (Canada)<sup>\*</sup> | 126 |
| 31176 | Motor Oil Hellas Corinth Refineries SA (Greece) | 1255 |
| 41949 | Navigator Holdings Ltd. (United States) | 777 |
| 19320 | OKEA ASA (Norway)<sup>\*</sup> | 47 |
| 337631 | ORLEN SA (Poland) | 10261 |
| 512000 | Petron Corp. (Philippines) | 23 |
| 718500 | PTT Exploration & Production PCL NVDR (Thailand)<sup>1</sup> | 2809 |
| 200640 | Shell PLC (United States) | 7713 |
| 2847700 | Star Petroleum Refining PCL NVDR (Thailand)<sup>1</sup> | 613 |
| 574100 | Thai Oil PCL NVDR (Thailand)<sup>1</sup> | 781 |
| 154795 | Viva Energy Group Ltd. (Australia)<sup>2</sup> | 194 |
| 458684 | Whitehaven Coal Ltd. (Australia) | 2802 |
|  |  | 61090 |
| **PASSENGER AIRLINES—1.0%** | **PASSENGER AIRLINES—1.0%** | **PASSENGER AIRLINES—1.0%** |
| 421451 | Deutsche Lufthansa AG (Germany) | 4342 |
| 1176052 | &nbsp;&nbsp;&nbsp;&nbsp; International Consolidated Airlines Group SA Class DI (United <br> Kingdom)<br>| 6756 |
| 349649 | Qantas Airways Ltd. (Australia) | 2445 |
| 8362 | Virgin Australia Holdings Ltd. (Australia)<sup>\*</sup> | 18 |
|  |  | 13561 |
| **PERSONAL CARE PRODUCTS—0.0%** | **PERSONAL CARE PRODUCTS—0.0%** | **PERSONAL CARE PRODUCTS—0.0%** |
| 54810 | Applied Nutrition PLC (United Kingdom)<sup>\*</sup> | 174 |
| 6614819 | Industri Jamu Dan Farmasi Sido Muncul Tbk. PT (Indonesia) | 207 |
|  |  | 381 |
| **PHARMACEUTICALS—12.7%** | **PHARMACEUTICALS—12.7%** | **PHARMACEUTICALS—12.7%** |
| 5868 | ALK-Abello AS (Denmark)<sup>\*</sup> | 194 |
| 482600 | Astellas Pharma, Inc. (Japan) | 6713 |
| 231981 | AstraZeneca PLC ADR (United Kingdom)<sup>1</sup> | 21521 |
| 239944 | Bausch Health Cos., Inc. (Canada)<sup>\*</sup> | 1376 |

---

------

⬤

------

**Harbor International Core Fund**

**PORTFOLIO OF INVESTMENTS—Continued**

------

*Value and Cost in Thousands* 

---

| | | |
|:---|:---|:---|
| **COMMON STOCKS—Continued** | **COMMON STOCKS—Continued** | **COMMON STOCKS—Continued** |
| **Shares** |  | **Value** |
| **PHARMACEUTICALS—Continued** | **PHARMACEUTICALS—Continued** | **PHARMACEUTICALS—Continued** |
| 83500 | Daiichi Sankyo Co. Ltd. (Japan) | $1530 |
| 227900 | Eisai Co. Ltd. (Japan) | 6354 |
| 32167 | Galderma Group AG (Switzerland) | 5996 |
| 447637 | GSK PLC ADR (United States)<sup>1</sup> | 23098 |
| 726 | Ipsen SA (France) | 119 |
| 15100 | Knight Therapeutics, Inc. (Canada)<sup>\*</sup> | 64 |
| 70800 | Mega Lifesciences PCL NVDR (Thailand)<sup>1</sup> | 81 |
| 31700 | Nippon Shinyaku Co. Ltd. (Japan) | 1058 |
| 334260 | Novartis AG (United States) | 49594 |
| 163400 | Ono Pharmaceutical Co. Ltd. (Japan) | 2434 |
| 79 | Orion OYJ Class A (Finland) | 7 |
| 10471 | Orion OYJ Class B (Finland) | 866 |
| 4105 | PhotoCure ASA (Norway)<sup>\*</sup> | 29 |
| 8492 | Richter Gedeon Nyrt (Hungary) | 284 |
| 104448 | Roche Holding AG (United States) | 47497 |
| 65394 | Sandoz Group AG (Switzerland) | 5181 |
| 33900 | Sanofi SA (United States) | 3198 |
| 5600 | Seikagaku Corp. (Japan) | 25 |
| 13856 | UCB SA (Belgium) | 4222 |
| 383 | Vetoquinol SA (France) | 39 |
|  |  | 181480 |
| **PROFESSIONAL SERVICES—1.9%** | **PROFESSIONAL SERVICES—1.9%** | **PROFESSIONAL SERVICES—1.9%** |
| 1600 | Career Design Center Co. Ltd. (Japan) | 25 |
| 8722 | Computershare Ltd. (Australia) | 198 |
| 10276 | Fiverr International Ltd. (United States)<sup>\*</sup> | 172 |
| 4400 | JAC Recruitment Co. Ltd. (Japan) | 28 |
| 38823 | Kanzhun Ltd. ADR (China)<sup>1</sup> | 719 |
| 300100 | Recruit Holdings Co. Ltd. (Japan) | 15808 |
| 4200 | Space Co. Ltd. (Japan) | 42 |
| 110229 | Wolters Kluwer NV (Netherlands) | 10351 |
|  |  | 27343 |
| **REAL ESTATE MANAGEMENT & DEVELOPMENT—0.3%** | **REAL ESTATE MANAGEMENT & DEVELOPMENT—0.3%** | **REAL ESTATE MANAGEMENT & DEVELOPMENT—0.3%** |
| 206558 | Aldar Properties PJSC (United Arab Emirates) | 540 |
| 717 | Allreal Holding AG (Switzerland) | 210 |
| 664600 | Amata Corp. PCL NVDR (Thailand)<sup>1</sup> | 330 |
| 320582 | Emaar Development PJSC (United Arab Emirates) | 1503 |
| 432356 | Emaar Properties PJSC (United Arab Emirates) | 1769 |
| 116681 | Ever Reach Group Holdings Co. Ltd. (China)<sup>\*</sup> | 3 |
| 688400 | LBS Bina Group Bhd. (Malaysia) | 71 |
| 978000 | Megaworld Corp. (Philippines) | 36 |
| 1077 | Melcor Developments Ltd. (Canada) | 13 |
| 460000 | Midland Holdings Ltd. (Hong Kong)<sup>\*</sup> | 179 |
| 12963 | Modern Land China Co. Ltd. (China)<sup>\*</sup> |  |
| 2400 | Propnex Ltd. (Singapore) | 4 |
| 8276 | Servcorp Ltd. (Australia) | 44 |
|  |  | 4702 |
| **RETAIL REITS—0.3%** | **RETAIL REITS—0.3%** | **RETAIL REITS—0.3%** |
| 116822 | Klepierre SA (France) | 4500 |
| **SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT—7.5%** | **SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT—7.5%** | **SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT—7.5%** |
| 56200 | Advantest Corp. (Japan) | 9295 |
| 2484 | Anapass, Inc. (South Korea)<sup>\*</sup> | 31 |
| 6653 | ARM Holdings PLC ADR (United States)<sup>\*,1</sup> | 701 |
| 691033 | ASE Technology Holding Co. Ltd. ADR (Taiwan)<sup>1</sup> | 13116 |
| 20896 | ASML Holding NV New York Registry Shares (Netherlands) | 29735 |
| 3500 | Aval Data Corp. (Japan) | 67 |
| 5723 | ChipMOS Technologies, Inc. ADR (Taiwan)<sup>1</sup> | 212 |
| 1400 | Disco Corp. (Japan) | 597 |
| 6393 | Hansol Technics Co. Ltd. (South Korea) | 26 |
| 246258 | Himax Technologies, Inc. ADR (Taiwan)<sup>1</sup> | 2002 |
| 30251 | JinkoSolar Holding Co. Ltd. ADR (China)<sup>1</sup> | 775 |
| 931 | KoMiCo Ltd. (South Korea)<sup>\*</sup> | 81 |
| 2300 | Lasertec Corp. (Japan) | 528 |
| 4900 | LEENO Industrial, Inc. (South Korea)<sup>\*</sup> | 357 |

---

---

| | | |
|:---|:---|:---|
| **COMMON STOCKS—Continued** | **COMMON STOCKS—Continued** | **COMMON STOCKS—Continued** |
| **Shares** |  | **Value** |
| **SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT—Continued** | **SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT—Continued** | **SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT—Continued** |
| 11504 | LOT Vacuum Co. Ltd. (South Korea)<sup>\*</sup> | $110 |
| 2038 | LX Semicon Co. Ltd. (South Korea) | 77 |
| 6543 | NEPES Corp. (South Korea)<sup>\*</sup> | 86 |
| 25798 | Power Logics Co. Ltd. (South Korea)<sup>\*</sup> | 102 |
| 2555 | Protec Co. Ltd. (South Korea)<sup>\*</sup> | 90 |
| 15800 | SCREEN Holdings Co. Ltd. (Japan) | 2012 |
| 18455 | Silicon Motion Technology Corp. ADR (Taiwan)<sup>1</sup> | 2195 |
| 24164 | SK Hynix, Inc. (South Korea) | 15087 |
| 8200 | Socionext, Inc. (Japan) | 110 |
| 64178 | STMicroelectronics NV NY Registry Shares (Singapore)<sup>1</sup> | 1790 |
| 1500 | Taiwan Semiconductor Manufacturing Co. Ltd. BDR (Taiwan)<sup>1</sup> | 62 |
| 73400 | Tokyo Electron Ltd. (Japan) | 19558 |
| 7250 | Toptec Co. Ltd. (South Korea) | 24 |
| 219000 | UMS Integration Ltd. (Singapore) | 231 |
| 662107 | United Microelectronics Corp. ADR (Taiwan)<sup>1</sup> | 6740 |
| 12809 | WONIK IPS Co. Ltd. (South Korea)<sup>\*</sup> | 1008 |
| 4164 | Zeus Co. Ltd. (South Korea) | 57 |
|  |  | 106862 |
| **SOFTWARE—1.8%** | **SOFTWARE—1.8%** | **SOFTWARE—1.8%** |
| 9600 | Access Co. Ltd. (Japan)<sup>\*</sup> | 39 |
| 41683 | Accesso Technology Group PLC (United Kingdom)<sup>\*</sup> | 161 |
| 1007 | Alpha Systems, Inc. (Japan) | 25 |
| 1360000 | BII Railway Transportation Technology Holdings Co. Ltd. (China) | 58 |
| 51226 | Check Point Software Technologies Ltd. (Israel)<sup>\*</sup> | 9196 |
| 46950 | Docebo, Inc. (Canada)<sup>\*</sup> | 918 |
| 43770 | dotdigital group PLC (United Kingdom) | 44 |
| 7600 | Ebase Co. Ltd. (Japan) | 21 |
| 114700 | Enghouse Systems Ltd. (Canada) | 1576 |
| 41853 | Exem Co. Ltd. (South Korea)<sup>\*</sup> | 65 |
| 1995 | Fabasoft AG (Austria) | 36 |
| 21928 | F-Secure OYJ (Finland) | 49 |
| 8500 | I'll, Inc. (Japan) | 136 |
| 1200 | Innoscripta SE (Germany)<sup>\*</sup> | 128 |
| 5400 | ISB Corp. (Japan) | 63 |
| 1700 | Kinaxis, Inc. (Canada)<sup>\*</sup> | 172 |
| 28286 | Nice Ltd. ADR (Israel)<sup>\*,1</sup> | 3010 |
| 4100 | PCA Corp. (Japan) | 52 |
| 18705 | RADCOM Ltd. (Israel)<sup>\*</sup> | 235 |
| 28630 | Sage Group PLC (United Kingdom) | 375 |
| 3100 | Sansan, Inc. (Japan)<sup>\*</sup> | 30 |
| 1800 | Soliton Systems KK (Japan) | 23 |
| 1907 | TECSYS, Inc. (Canada) | 37 |
| 24400 | Temenos AG (Switzerland) | 2156 |
| 5737 | Text SA (Poland) | 68 |
| 171900 | Trend Micro, Inc. (Japan) | 6743 |
| 1400 | WingArc1st, Inc. (Japan) | 30 |
|  |  | 25446 |
| **SPECIALTY RETAIL—0.3%** | **SPECIALTY RETAIL—0.3%** | **SPECIALTY RETAIL—0.3%** |
| 1715260 | &nbsp;&nbsp;&nbsp;&nbsp; Abu Dhabi National Oil Co. for Distribution PJSC (United Arab <br> Emirates)<br>| 1915 |
| 645300 | Bermaz Auto Bhd. (Malaysia) | 136 |
| 972 | Delta Israel Brands Ltd. (Israel) | 46 |
| 14567 | DFS Furniture PLC (United Kingdom)<sup>\*</sup> | 39 |
| 616000 | Dohome PCL (Thailand) | 69 |
| 254500 | EEKA Fashion Holdings Ltd. (China) | 231 |
| 3000 | Fast Retailing Co. Ltd. (Japan) | 1145 |
| 6562 | Hallenstein Glasson Holdings Ltd. (New Zealand) | 39 |
| 67356 | Kingfisher PLC (United Kingdom) | 310 |
| 4420 | LOTTE Himart Co. Ltd. (South Korea) | 22 |
| 24100 | Maruzen CHI Holdings Co. Ltd. (Japan) | 52 |
| 6986 | Naturhouse Health SAU (Spain) | 22 |
| 39900 | Petronas Dagangan Bhd. (Malaysia) | 215 |
| 4189 | Rvrc Holding AB (Sweden) | 32 |
| 113982 | Super Group Ltd. (South Africa) | 122 |
|  |  | 4395 |

---

------

⬤

------

**Harbor International Core Fund**

**PORTFOLIO OF INVESTMENTS—Continued**

------

*Value and Cost in Thousands* 

---

| | | |
|:---|:---|:---|
| **COMMON STOCKS—Continued** | **COMMON STOCKS—Continued** | **COMMON STOCKS—Continued** |
| **Shares** |  | **Value** |
| **TECHNOLOGY HARDWARE, STORAGE & PERIPHERALS—1.5%** | **TECHNOLOGY HARDWARE, STORAGE & PERIPHERALS—1.5%** | **TECHNOLOGY HARDWARE, STORAGE & PERIPHERALS—1.5%** |
| 3717 | Austriacard Holdings AG (Austria) | $33 |
| 33300 | Brother Industries Ltd. (Japan) | 679 |
| 21900 | FUJIFILM Holdings Corp. (Japan) | 438 |
| 900000 | Lenovo Group Ltd. (China) | 1014 |
| 81100 | Logitech International SA (Switzerland) | 6987 |
| 457400 | Ricoh Co. Ltd. (Japan) | 4047 |
| 6700 | Riso Kagaku Corp. (Japan) | 53 |
| 53959 | Samsung Electronics Co. Ltd. (South Korea) | 5961 |
| 182500 | Seiko Epson Corp. (Japan) | 2348 |
| 6200 | Toshiba TEC Corp. (Japan) | 104 |
|  |  | 21664 |
| **TEXTILES, APPAREL & LUXURY GOODS—0.3%** | **TEXTILES, APPAREL & LUXURY GOODS—0.3%** | **TEXTILES, APPAREL & LUXURY GOODS—0.3%** |
| 31447 | Canada Goose Holdings, Inc. (Canada)<sup>\*</sup> | 382 |
| 32000 | Chow Sang Sang Holdings International Ltd. (Hong Kong) | 60 |
| 156100 | Guararapes Confeccoes SA (Brazil) | 291 |
| 985500 | Li Ning Co. Ltd. (China) | 2577 |
| 214000 | Nameson Holdings Ltd. (Hong Kong) | 29 |
| 6452 | Nature Holdings Co. Ltd. (South Korea) | 36 |
| 153842 | OVS SpA (Italy)<sup>2</sup> | 870 |
| 121200 | Poh Kong Holdings Bhd. (Malaysia) | 38 |
| 13581 | Safilo Group SpA (Italy)<sup>\*</sup> | 34 |
| 19885 | TK Chemical Corp. (South Korea)<sup>\*</sup> | 25 |
| 8338 | Xexymix Corp. (South Korea) | 30 |
| 646500 | Xtep International Holdings Ltd. (China) | 425 |
|  |  | 4797 |
| **TRADING COMPANIES & DISTRIBUTORS—0.1%** | **TRADING COMPANIES & DISTRIBUTORS—0.1%** | **TRADING COMPANIES & DISTRIBUTORS—0.1%** |
| 1600 | Nanyo Corp. (Japan) | 15 |
| 152987 | New Times Corp. Ltd. (Hong Kong)<sup>\*</sup> | 1 |
| 900 | Nice Corp. (Japan) | 11 |
| 2700 | Onoken Co. Ltd. (Japan) | 25 |
| 2300 | Parker Corp. (Japan) | 22 |
| 34700 | Russel Metals, Inc. (Canada) | 1230 |
| 8200 | Speedy Hire PLC (United Kingdom) | 3 |
| 6400 | Wajax Corp. (Canada) | 133 |
|  |  | 1440 |
| **TRANSPORTATION INFRASTRUCTURE—0.1%** | **TRANSPORTATION INFRASTRUCTURE—0.1%** | **TRANSPORTATION INFRASTRUCTURE—0.1%** |
| 2322 | Aeroporto Guglielmo Marconi Di Bologna SpA (Italy) | 30 |
| 619700 | Airports of Thailand PCL NVDR (Thailand)<sup>1</sup> | 989 |

---

---

| | | |
|:---|:---|:---|
| **COMMON STOCKS—Continued** | **COMMON STOCKS—Continued** | **COMMON STOCKS—Continued** |
| **Shares** |  | **Value** |
| **TRANSPORTATION INFRASTRUCTURE—Continued** | **TRANSPORTATION INFRASTRUCTURE—Continued** | **TRANSPORTATION INFRASTRUCTURE—Continued** |
| 46000 | Qilu Expressway Co. Ltd. Class H (China) | $11 |
|  |  | 1030 |
| &nbsp;&nbsp;&nbsp;&nbsp; **TOTAL COMMON STOCKS** <br>(Cost $1,116,862) | &nbsp;&nbsp;&nbsp;&nbsp; **TOTAL COMMON STOCKS** <br>(Cost $1,116,862) | $1366984 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
| **EXCHANGE-TRADED FUNDS—0.9%** | **EXCHANGE-TRADED FUNDS—0.9%** | **EXCHANGE-TRADED FUNDS—0.9%** |
| &nbsp;&nbsp;&nbsp; (Cost $12,411) | &nbsp;&nbsp;&nbsp; (Cost $12,411) | &nbsp;&nbsp;&nbsp; (Cost $12,411) |
| **CAPITAL MARKETS—0.9%** | **CAPITAL MARKETS—0.9%** | **CAPITAL MARKETS—0.9%** |
| 129218 | iShares MSCI EAFE ETF (United States) | 13018 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
| **PREFERRED STOCKS—1.4%** | **PREFERRED STOCKS—1.4%** | **PREFERRED STOCKS—1.4%** |
| **BANKS—0.0%** | **BANKS—0.0%** | **BANKS—0.0%** |
| 2200 | Banco Mercantil do Brasil SA (Brazil) | 32 |
| **CHEMICALS—0.0%** | **CHEMICALS—0.0%** | **CHEMICALS—0.0%** |
| 1146 | FUCHS SE (Germany) | 50 |
| **HOUSEHOLD DURABLES—0.0%** | **HOUSEHOLD DURABLES—0.0%** | **HOUSEHOLD DURABLES—0.0%** |
| 107 | Einhell Germany AG (Germany) | 11 |
| **HOUSEHOLD PRODUCTS—1.3%** | **HOUSEHOLD PRODUCTS—1.3%** | **HOUSEHOLD PRODUCTS—1.3%** |
| 215876 | Henkel AG & Co. KGaA (Germany) | 18965 |
| **MACHINERY—0.0%** | **MACHINERY—0.0%** | **MACHINERY—0.0%** |
| 454 | KSB SE & Co. KGaA (Germany) | 577 |
| **METALS & MINING—0.1%** | **METALS & MINING—0.1%** | **METALS & MINING—0.1%** |
| 495300 | Usinas Siderurgicas de Minas Gerais SA Usiminas (Brazil)<sup>\*</sup> | 593 |
| &nbsp;&nbsp;&nbsp;&nbsp; **TOTAL PREFERRED STOCKS** <br>(Cost $18,869) | &nbsp;&nbsp;&nbsp;&nbsp; **TOTAL PREFERRED STOCKS** <br>(Cost $18,869) | 20228 |
| &nbsp;&nbsp;&nbsp;&nbsp; **TOTAL INVESTMENTS—98.2%** <br>(Cost $1,148,142) | &nbsp;&nbsp;&nbsp;&nbsp; **TOTAL INVESTMENTS—98.2%** <br>(Cost $1,148,142) | 1400230 |
| **CASH AND OTHER ASSETS, LESS LIABILITIES—1.8%** | **CASH AND OTHER ASSETS, LESS LIABILITIES—1.8%** | 26250 |
| **TOTAL NET ASSETS—100%** | **TOTAL NET ASSETS—100%** | $1426480 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

------

⬤

------

**Harbor International Core Fund**

**PORTFOLIO OF INVESTMENTS—Continued**

------

**FAIR VALUE MEASUREMENTS**

The following table summarizes the Fund's investments as of January 31, 2026 based on the inputs used to value them.

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Asset Category** | **Quoted Prices** <br>**Level 1** <br>**(000s)**<br>| **Other Significant** <br>**Observable Inputs** <br>**Level 2** <br>**(000s)**<br>| **Significant** <br>**Unobservable** <br>**Inputs** <br>**Level 3** <br>**(000s)**<br>| **Total** <br>**(000s)**<br>|
| Common Stocks |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Africa | &nbsp;&nbsp; $2188 | &nbsp;&nbsp; $7676 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $9864 |
| &nbsp;&nbsp;&nbsp; Europe | &nbsp;&nbsp; 89894 | &nbsp;&nbsp; 602496 | &nbsp;&nbsp; — | &nbsp;&nbsp; 692390 |
| &nbsp;&nbsp;&nbsp; Latin America | &nbsp;&nbsp; 1839 | &nbsp;&nbsp; 5324 | &nbsp;&nbsp; — | &nbsp;&nbsp; 7163 |
| &nbsp;&nbsp;&nbsp; Middle East/Central Asia | &nbsp;&nbsp; 18938 | &nbsp;&nbsp; 51365 | &nbsp;&nbsp; — | &nbsp;&nbsp; 70303 |
| &nbsp;&nbsp;&nbsp; North America | &nbsp;&nbsp; 79876 | &nbsp;&nbsp; 108703 | &nbsp;&nbsp; — | &nbsp;&nbsp; 188579 |
| &nbsp;&nbsp;&nbsp; Pacific Basin | &nbsp;&nbsp; 31338 | &nbsp;&nbsp; 367347 | &nbsp;&nbsp; — | &nbsp;&nbsp; 398685 |
| Exchange-Traded Funds |  |  |  |  |
| &nbsp;&nbsp;&nbsp; North America | &nbsp;&nbsp; 13018 | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; 13018 |
| Preferred Stocks |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Europe | &nbsp;&nbsp; — | &nbsp;&nbsp; 19603 | &nbsp;&nbsp; — | &nbsp;&nbsp; 19603 |
| &nbsp;&nbsp;&nbsp; Latin America | &nbsp;&nbsp; 625 | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; 625 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total Investments in Securities | &nbsp;&nbsp; $237716 | &nbsp;&nbsp; $1162514 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $1400230 |

---

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 Portfolio of Investments.

------

\*

Non-income producing security

x

Fair valued in accordance with the fair value pricing procedures applicable to the Funds.

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.

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, 2026, the aggregate value of these securities was $28,494 or 2% of net assets.

The accompanying notes are an integral part of the Portfolios of Investments.

------

⬤

------

**Harbor International Small Cap Fund**

**PORTFOLIO OF INVESTMENTS—January 31, 2026 (Unaudited)**

------

*Value and Cost in Thousands*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
| **COMMON STOCKS—97.6%** | **COMMON STOCKS—97.6%** | **COMMON STOCKS—97.6%** |
| **Shares** |  | **Value** |
| **AIR FREIGHT & LOGISTICS—1.2%** | **AIR FREIGHT & LOGISTICS—1.2%** | **AIR FREIGHT & LOGISTICS—1.2%** |
| 98490 | Nippon Express Holdings, Inc. (Japan) | $2237 |
| **BANKS—1.6%** | **BANKS—1.6%** | **BANKS—1.6%** |
| 396382 | Kyushu Financial Group, Inc. (Japan) | 2971 |
| **BEVERAGES—1.0%** | **BEVERAGES—1.0%** | **BEVERAGES—1.0%** |
| 1274823 | C&C Group PLC (Ireland) | 1907 |
| **BUILDING PRODUCTS—1.5%** | **BUILDING PRODUCTS—1.5%** | **BUILDING PRODUCTS—1.5%** |
| 615509 | Genuit Group PLC (United Kingdom) | 2802 |
| **CAPITAL MARKETS—1.8%** | **CAPITAL MARKETS—1.8%** | **CAPITAL MARKETS—1.8%** |
| 936199 | TP ICAP Group PLC (United Kingdom) | 3266 |
| **CHEMICALS—6.6%** | **CHEMICALS—6.6%** | **CHEMICALS—6.6%** |
| 142811 | Corbion NV (Netherlands) | 3430 |
| 192046 | Kansai Paint Co. Ltd. (Japan) | 3065 |
| 181676 | Tosoh Corp. (Japan) | 2965 |
| 291950 | Victrex PLC (United Kingdom) | 2624 |
|  |  | 12084 |
| **COMMERCIAL SERVICES & SUPPLIES—1.8%** | **COMMERCIAL SERVICES & SUPPLIES—1.8%** | **COMMERCIAL SERVICES & SUPPLIES—1.8%** |
| 16522 | Daiseki Co. Ltd. (Japan) | 371 |
| 76743 | ISS AS (Denmark) | 2911 |
|  |  | 3282 |
| **CONSTRUCTION & ENGINEERING—1.7%** | **CONSTRUCTION & ENGINEERING—1.7%** | **CONSTRUCTION & ENGINEERING—1.7%** |
| 135497 | Raito Kogyo Co. Ltd. (Japan) | 3064 |
| **CONSTRUCTION MATERIALS—1.6%** | **CONSTRUCTION MATERIALS—1.6%** | **CONSTRUCTION MATERIALS—1.6%** |
| 89026 | Wienerberger AG (Austria) | 2943 |
| **CONSUMER FINANCE—3.2%** | **CONSUMER FINANCE—3.2%** | **CONSUMER FINANCE—3.2%** |
| 288900 | AEON Financial Service Co. Ltd. (Japan) | 3154 |
| 21740 | Cembra Money Bank AG (Switzerland) | 2779 |
|  |  | 5933 |
| **CONSUMER STAPLES DISTRIBUTION & RETAIL—1.8%** | **CONSUMER STAPLES DISTRIBUTION & RETAIL—1.8%** | **CONSUMER STAPLES DISTRIBUTION & RETAIL—1.8%** |
| 171175 | San-A Co. Ltd. (Japan) | 3263 |
| **CONTAINERS & PACKAGING—5.4%** | **CONTAINERS & PACKAGING—5.4%** | **CONTAINERS & PACKAGING—5.4%** |
| 136311 | Fuji Seal International, Inc. (Japan) | 2819 |
| 92896 | Huhtamaki OYJ (Finland) | 3260 |
| 245777 | SIG Group AG (Switzerland) | 3803 |
|  |  | 9882 |
| **DISTRIBUTORS—3.6%** | **DISTRIBUTORS—3.6%** | **DISTRIBUTORS—3.6%** |
| 291034 | Inchcape PLC (United Kingdom) | 3255 |
| 104301 | PALTAC Corp. (Japan) | 3264 |
|  |  | 6519 |
| **ELECTRONIC EQUIPMENT, INSTRUMENTS & COMPONENTS—7.6%** | **ELECTRONIC EQUIPMENT, INSTRUMENTS & COMPONENTS—7.6%** | **ELECTRONIC EQUIPMENT, INSTRUMENTS & COMPONENTS—7.6%** |
| 187309 | Anritsu Corp. (Japan) | 2596 |
| 231503 | Hamamatsu Photonics KK (Japan) | 2587 |
| 45767 | Landis & Gyr Group AG (Switzerland) | 3215 |
| 157803 | Optex Group Co. Ltd. (Japan) | 2450 |
| 245178 | Venture Corp. Ltd. (Singapore) | 3148 |
|  |  | 13996 |
| **FOOD PRODUCTS—6.8%** | **FOOD PRODUCTS—6.8%** | **FOOD PRODUCTS—6.8%** |
| 77636 | Ariake Japan Co. Ltd. (Japan) | 2814 |
| 43540 | Aryzta AG (Switzerland)<sup>\*</sup> | 3086 |
| 180615 | Glanbia PLC (Ireland) | 3481 |
| 588509 | Tate & Lyle PLC (United Kingdom) | 3045 |
|  |  | 12426 |

---

---

| | | |
|:---|:---|:---|
| **COMMON STOCKS—Continued** | **COMMON STOCKS—Continued** | **COMMON STOCKS—Continued** |
| **Shares** |  | **Value** |
| **GAS UTILITIES—1.4%** | **GAS UTILITIES—1.4%** | **GAS UTILITIES—1.4%** |
| 62660 | Rubis SCA (France) | $2537 |
| **GROUND TRANSPORTATION—1.8%** | **GROUND TRANSPORTATION—1.8%** | **GROUND TRANSPORTATION—1.8%** |
| 620742 | Zigup PLC (United Kingdom) | 3238 |
| **HEALTH CARE EQUIPMENT & SUPPLIES—6.6%** | **HEALTH CARE EQUIPMENT & SUPPLIES—6.6%** | **HEALTH CARE EQUIPMENT & SUPPLIES—6.6%** |
| 129135 | Ansell Ltd. (Australia) | 2928 |
| 899016 | Arjo AB Class B (Sweden) | 2695 |
| 245105 | Nakanishi, Inc. (Japan) | 3437 |
| 279498 | Nihon Kohden Corp. (Japan) | 3098 |
|  |  | 12158 |
| **HEALTH CARE PROVIDERS & SERVICES—3.5%** | **HEALTH CARE PROVIDERS & SERVICES—3.5%** | **HEALTH CARE PROVIDERS & SERVICES—3.5%** |
| 116790 | Fagron (Belgium) | 3071 |
| 212365 | Sonic Healthcare Ltd. (Australia) | 3396 |
|  |  | 6467 |
| **INSURANCE—2.7%** | **INSURANCE—2.7%** | **INSURANCE—2.7%** |
| 31251 | ASR Nederland NV (Netherlands) | 2270 |
| 145330 | Coface SA (France) | 2658 |
|  |  | 4928 |
| **IT SERVICES—1.7%** | **IT SERVICES—1.7%** | **IT SERVICES—1.7%** |
| 146224 | TietoEVRY OYJ (Finland) | 3174 |
| **LEISURE PRODUCTS—1.2%** | **LEISURE PRODUCTS—1.2%** | **LEISURE PRODUCTS—1.2%** |
| 162891 | Spin Master Corp. (Canada)<sup>1</sup> | 2226 |
| **MACHINERY—9.2%** | **MACHINERY—9.2%** | **MACHINERY—9.2%** |
| 84356 | Aalberts NV (Netherlands) | 3239 |
| 40472 | Construcciones y Auxiliar de Ferrocarriles SA (Spain) | 2698 |
| 83601 | Hoshizaki Corp. (Japan) | 2756 |
| 119186 | METAWATER Co. Ltd. (Japan) | 2553 |
| 960071 | Morgan Advanced Materials PLC (United Kingdom) | 3007 |
| 157788 | Norma Group SE (Germany) | 2746 |
|  |  | 16999 |
| **MARINE TRANSPORTATION—1.9%** | **MARINE TRANSPORTATION—1.9%** | **MARINE TRANSPORTATION—1.9%** |
| 61830 | Clarkson PLC (United Kingdom) | 3550 |
| **MEDIA—3.0%** | **MEDIA—3.0%** | **MEDIA—3.0%** |
| 165435 | JCDecaux SE (France) | 3263 |
| 53173 | RTL Group SA (Luxembourg) | 2318 |
|  |  | 5581 |
| **METALS & MINING—3.5%** | **METALS & MINING—3.5%** | **METALS & MINING—3.5%** |
| 79559 | Aperam SA (Luxembourg) | 3423 |
| 61583 | Bekaert SA (Belgium) | 3021 |
|  |  | 6444 |
| **PERSONAL CARE PRODUCTS—0.1%** | **PERSONAL CARE PRODUCTS—0.1%** | **PERSONAL CARE PRODUCTS—0.1%** |
| 43438 | Ontex Group NV (Belgium)<sup>\*</sup> | 253 |
| **PROFESSIONAL SERVICES—1.3%** | **PROFESSIONAL SERVICES—1.3%** | **PROFESSIONAL SERVICES—1.3%** |
| 3634154 | Hays PLC (United Kingdom) | 2363 |
| **REAL ESTATE MANAGEMENT & DEVELOPMENT—1.5%** | **REAL ESTATE MANAGEMENT & DEVELOPMENT—1.5%** | **REAL ESTATE MANAGEMENT & DEVELOPMENT—1.5%** |
| 164303 | TAG Immobilien AG (Germany) | 2788 |
| **SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT—2.2%** | **SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT—2.2%** | **SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT—2.2%** |
| 216930 | ASMPT Ltd. (Hong Kong) | 2893 |
| 36479 | SOITEC (France)<sup>\*</sup> | 1136 |
|  |  | 4029 |
| **SOFTWARE—3.1%** | **SOFTWARE—3.1%** | **SOFTWARE—3.1%** |
| 195906 | Computer Engineering & Consulting Ltd. (Japan) | 2793 |

---

------

⬤

------

**Harbor International Small Cap Fund**

**PORTFOLIO OF INVESTMENTS—Continued**

------

*Value and Cost in Thousands* 

---

| | | |
|:---|:---|:---|
| **COMMON STOCKS—Continued** | **COMMON STOCKS—Continued** | **COMMON STOCKS—Continued** |
| **Shares** |  | **Value** |
| **SOFTWARE—Continued** | **SOFTWARE—Continued** | **SOFTWARE—Continued** |
| 382498 | TomTom NV (Netherlands)<sup>\*</sup> | $2874 |
|  |  | 5667 |
| **TEXTILES, APPAREL & LUXURY GOODS—1.9%** | **TEXTILES, APPAREL & LUXURY GOODS—1.9%** | **TEXTILES, APPAREL & LUXURY GOODS—1.9%** |
| 2952710 | Coats Group PLC (United Kingdom) | 3436 |
| **TRADING COMPANIES & DISTRIBUTORS—3.8%** | **TRADING COMPANIES & DISTRIBUTORS—3.8%** | **TRADING COMPANIES & DISTRIBUTORS—3.8%** |
| 322508 | BOC Aviation Ltd. (China)<sup>1</sup> | 3341 |
| 403302 | RS Group PLC (United Kingdom) | 3703 |
|  |  | 7044 |
| &nbsp;&nbsp;&nbsp;&nbsp; **TOTAL COMMON STOCKS** <br>(Cost $153,855) | &nbsp;&nbsp;&nbsp;&nbsp; **TOTAL COMMON STOCKS** <br>(Cost $153,855) | 179457 |
| &nbsp;&nbsp;&nbsp;&nbsp; **TOTAL INVESTMENTS—97.6%** <br>(Cost $153,855) | &nbsp;&nbsp;&nbsp;&nbsp; **TOTAL INVESTMENTS—97.6%** <br>(Cost $153,855) | 179457 |
| **CASH AND OTHER ASSETS, LESS LIABILITIES—2.4%** | **CASH AND OTHER ASSETS, LESS LIABILITIES—2.4%** | 4410 |
| **TOTAL NET ASSETS—100%** | **TOTAL NET ASSETS—100%** | $183867 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

**FAIR VALUE MEASUREMENTS**

The following table summarizes the Fund's investments as of January 31, 2026 based on the inputs used to value them.

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Asset Category** | **Quoted Prices** <br>**Level 1** <br>**(000s)**<br>| **Other Significant** <br>**Observable Inputs** <br>**Level 2** <br>**(000s)**<br>| **Significant** <br>**Unobservable** <br>**Inputs** <br>**Level 3** <br>**(000s)**<br>| **Total** <br>**(000s)**<br>|
| Common Stocks |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Europe | &nbsp;&nbsp; $— | &nbsp;&nbsp; $109267 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $109267 |
| &nbsp;&nbsp;&nbsp; North America | &nbsp;&nbsp; 2226 | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; 2226 |
| &nbsp;&nbsp;&nbsp; Pacific Basin | &nbsp;&nbsp; — | &nbsp;&nbsp; 67964 | &nbsp;&nbsp; — | &nbsp;&nbsp; 67964 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total Investments in Securities | &nbsp;&nbsp; $2226 | &nbsp;&nbsp; $177231 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $179457 |

---

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 Financial Statements.

------

\*

Non-income producing security

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, 2026, the aggregate value of these securities was $5,567 or 3% of net assets.

The accompanying notes are an integral part of the Portfolios of Investments.

------

⬤

------

**Harbor Large Cap Value Fund**

**PORTFOLIO OF INVESTMENTS—January 31, 2026 (Unaudited)**

------

*Value and Cost in Thousands*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
| **COMMON STOCKS—98.0%** | **COMMON STOCKS—98.0%** | **COMMON STOCKS—98.0%** |
| **Shares** |  | **Value** |
| **AEROSPACE & DEFENSE—2.2%** | **AEROSPACE & DEFENSE—2.2%** | **AEROSPACE & DEFENSE—2.2%** |
| 72850 | General Dynamics Corp.  | $25577 |
| **BANKS—11.1%** | **BANKS—11.1%** | **BANKS—11.1%** |
| 129200 | Cullen/Frost Bankers, Inc.  | 17806 |
| 1582900 | Mitsubishi UFJ Financial Group, Inc. ADR (Japan)<sup>1</sup> | 28571 |
| 112900 | PNC Financial Services Group, Inc.  | 25211 |
| 515700 | U.S. Bancorp  | 28936 |
| 291300 | Wells Fargo & Co.  | 26360 |
|  |  | 126884 |
| **BEVERAGES—2.2%** | **BEVERAGES—2.2%** | **BEVERAGES—2.2%** |
| 334000 | Coca-Cola Co.  | 24986 |
| **BIOTECHNOLOGY—2.5%** | **BIOTECHNOLOGY—2.5%** | **BIOTECHNOLOGY—2.5%** |
| 82700 | Amgen, Inc.  | 28273 |
| **CAPITAL MARKETS—4.5%** | **CAPITAL MARKETS—4.5%** | **CAPITAL MARKETS—4.5%** |
| 59800 | Ameriprise Financial, Inc.  | 31526 |
| 142500 | Blackstone, Inc.  | 20295 |
|  |  | 51821 |
| **CHEMICALS—9.5%** | **CHEMICALS—9.5%** | **CHEMICALS—9.5%** |
| 75000 | Air Products & Chemicals, Inc.  | 20438 |
| 518300 | Corteva, Inc.  | 37732 |
| 101400 | Ecolab, Inc.  | 28594 |
| 198300 | RPM International, Inc.  | 21210 |
|  |  | 107974 |
| **COMMUNICATIONS EQUIPMENT—0.9%** | **COMMUNICATIONS EQUIPMENT—0.9%** | **COMMUNICATIONS EQUIPMENT—0.9%** |
| 24725 | Motorola Solutions, Inc.  | 9953 |
| **CONSTRUCTION MATERIALS—2.9%** | **CONSTRUCTION MATERIALS—2.9%** | **CONSTRUCTION MATERIALS—2.9%** |
| 51500 | Martin Marietta Materials, Inc.  | 33575 |
| **CONSUMER FINANCE—3.5%** | **CONSUMER FINANCE—3.5%** | **CONSUMER FINANCE—3.5%** |
| 181700 | Capital One Financial Corp.  | 39780 |
| **DIVERSIFIED TELECOMMUNICATION SERVICES—2.1%** | **DIVERSIFIED TELECOMMUNICATION SERVICES—2.1%** | **DIVERSIFIED TELECOMMUNICATION SERVICES—2.1%** |
| 543700 | Verizon Communications, Inc.  | 24205 |
| **ELECTRIC UTILITIES—2.1%** | **ELECTRIC UTILITIES—2.1%** | **ELECTRIC UTILITIES—2.1%** |
| 312900 | Xcel Energy, Inc.  | 23799 |
| **ELECTRONIC EQUIPMENT, INSTRUMENTS & COMPONENTS—2.4%** | **ELECTRONIC EQUIPMENT, INSTRUMENTS & COMPONENTS—2.4%** | **ELECTRONIC EQUIPMENT, INSTRUMENTS & COMPONENTS—2.4%** |
| 43400 | Teledyne Technologies, Inc. <sup>\*</sup> | 26921 |
| **FOOD PRODUCTS—1.9%** | **FOOD PRODUCTS—1.9%** | **FOOD PRODUCTS—1.9%** |
| 346100 | McCormick & Co., Inc.  | 21399 |
| **GAS UTILITIES—2.0%** | **GAS UTILITIES—2.0%** | **GAS UTILITIES—2.0%** |
| 134300 | Atmos Energy Corp.  | 22339 |
| **GROUND TRANSPORTATION—2.0%** | **GROUND TRANSPORTATION—2.0%** | **GROUND TRANSPORTATION—2.0%** |
| 280600 | Uber Technologies, Inc. <sup>\*</sup> | 22462 |
| **HEALTH CARE EQUIPMENT & SUPPLIES—3.3%** | **HEALTH CARE EQUIPMENT & SUPPLIES—3.3%** | **HEALTH CARE EQUIPMENT & SUPPLIES—3.3%** |
| 239700 | Alcon AG  | 19411 |
| 177400 | Medtronic PLC  | 18265 |
|  |  | 37676 |

---

---

| | | |
|:---|:---|:---|
| **COMMON STOCKS—Continued** | **COMMON STOCKS—Continued** | **COMMON STOCKS—Continued** |
| **Shares** |  | **Value** |
| **HOUSEHOLD DURABLES—4.6%** | **HOUSEHOLD DURABLES—4.6%** | **HOUSEHOLD DURABLES—4.6%** |
| 227300 | Lennar Corp. Class A | $24855 |
| 7126 | Lennar Corp. Class B | 722 |
| 1212000 | Sony Group Corp. ADR (Japan)<sup>1</sup> | 26785 |
|  |  | 52362 |
| **HOUSEHOLD PRODUCTS—1.7%** | **HOUSEHOLD PRODUCTS—1.7%** | **HOUSEHOLD PRODUCTS—1.7%** |
| 127700 | Procter & Gamble Co.  | 19381 |
| **INSURANCE—1.9%** | **INSURANCE—1.9%** | **INSURANCE—1.9%** |
| 293400 | American International Group, Inc.  | 21970 |
| **INTERACTIVE MEDIA & SERVICES—4.1%** | **INTERACTIVE MEDIA & SERVICES—4.1%** | **INTERACTIVE MEDIA & SERVICES—4.1%** |
| 137000 | Alphabet, Inc. Class C | 46379 |
| **LIFE SCIENCES TOOLS & SERVICES—1.8%** | **LIFE SCIENCES TOOLS & SERVICES—1.8%** | **LIFE SCIENCES TOOLS & SERVICES—1.8%** |
| 94100 | Danaher Corp.  | 20598 |
| **MACHINERY—6.5%** | **MACHINERY—6.5%** | **MACHINERY—6.5%** |
| 134200 | Oshkosh Corp.  | 19300 |
| 58125 | Parker-Hannifin Corp.  | 54396 |
|  |  | 73696 |
| **OIL, GAS & CONSUMABLE FUELS—4.0%** | **OIL, GAS & CONSUMABLE FUELS—4.0%** | **OIL, GAS & CONSUMABLE FUELS—4.0%** |
| 762500 | Coterra Energy, Inc.  | 21998 |
| 320300 | TotalEnergies SE (France) | 23190 |
|  |  | 45188 |
| **PHARMACEUTICALS—1.8%** | **PHARMACEUTICALS—1.8%** | **PHARMACEUTICALS—1.8%** |
| 185100 | Merck & Co., Inc.  | 20411 |
| **RESIDENTIAL REITS—1.3%** | **RESIDENTIAL REITS—1.3%** | **RESIDENTIAL REITS—1.3%** |
| 237100 | Equity LifeStyle Properties, Inc.  | 14978 |
| **SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT—4.3%** | **SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT—4.3%** | **SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT—4.3%** |
| 312400 | Microchip Technology, Inc.  | 23718 |
| 163100 | QUALCOMM, Inc.  | 24724 |
|  |  | 48442 |
| **SOFTWARE—7.1%** | **SOFTWARE—7.1%** | **SOFTWARE—7.1%** |
| 59100 | Adobe, Inc. <sup>\*</sup> | 17331 |
| 92500 | Microsoft Corp.  | 39802 |
| 50900 | Synopsys, Inc. <sup>\*</sup> | 23674 |
|  |  | 80807 |
| **SPECIALTY RETAIL—2.0%** | **SPECIALTY RETAIL—2.0%** | **SPECIALTY RETAIL—2.0%** |
| 86200 | Lowe's Cos., Inc.  | 23021 |
| **WATER UTILITIES—1.8%** | **WATER UTILITIES—1.8%** | **WATER UTILITIES—1.8%** |
| 162200 | American Water Works Co., Inc.  | 20945 |
| &nbsp;&nbsp;&nbsp;&nbsp; **TOTAL COMMON STOCKS** <br>(Cost $624,812) | &nbsp;&nbsp;&nbsp;&nbsp; **TOTAL COMMON STOCKS** <br>(Cost $624,812) | 1115802 |
| &nbsp;&nbsp;&nbsp;&nbsp; **TOTAL INVESTMENTS—98.0%** <br>(Cost $624,812) | &nbsp;&nbsp;&nbsp;&nbsp; **TOTAL INVESTMENTS—98.0%** <br>(Cost $624,812) | 1115802 |
| **CASH AND OTHER ASSETS, LESS LIABILITIES—2.0%** | **CASH AND OTHER ASSETS, LESS LIABILITIES—2.0%** | 23113 |
| **TOTAL NET ASSETS—100%** | **TOTAL NET ASSETS—100%** | $1138915 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

------

⬤

------

**Harbor Large Cap Value Fund**

**PORTFOLIO OF INVESTMENTS—Continued**

------

**FAIR VALUE MEASUREMENTS**

All investments as of January 31, 2026 (as disclosed in the preceding Portfolio of Investments) were classified as Level 1. <br>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

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.

------

⬤

------

**Harbor Mid Cap Fund**

**PORTFOLIO OF INVESTMENTS—January 31, 2026 (Unaudited)**

------

*Value and Cost in Thousands*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
| **COMMON STOCKS—96.6%** | **COMMON STOCKS—96.6%** | **COMMON STOCKS—96.6%** |
| **Shares** |  | **Value** |
| **AEROSPACE & DEFENSE—6.6%** | **AEROSPACE & DEFENSE—6.6%** | **AEROSPACE & DEFENSE—6.6%** |
| 8211 | General Dynamics Corp.  | $2883 |
| 50099 | Hexcel Corp.  | 4149 |
| 18045 | Woodward, Inc.  | 5735 |
|  |  | 12767 |
| **AIR FREIGHT & LOGISTICS—2.0%** | **AIR FREIGHT & LOGISTICS—2.0%** | **AIR FREIGHT & LOGISTICS—2.0%** |
| 19529 | CH Robinson Worldwide, Inc.  | 3807 |
| **BANKS—3.3%** | **BANKS—3.3%** | **BANKS—3.3%** |
| 26774 | East West Bancorp, Inc.  | 3064 |
| 22254 | Wintrust Financial Corp.  | 3282 |
|  |  | 6346 |
| **BUILDING PRODUCTS—1.9%** | **BUILDING PRODUCTS—1.9%** | **BUILDING PRODUCTS—1.9%** |
| 56241 | Masco Corp.  | 3717 |
| **CAPITAL MARKETS—7.1%** | **CAPITAL MARKETS—7.1%** | **CAPITAL MARKETS—7.1%** |
| 16147 | Houlihan Lokey, Inc.  | 2718 |
| 19770 | Intercontinental Exchange, Inc.  | 3436 |
| 22323 | Raymond James Financial, Inc.  | 3702 |
| 31156 | Stifel Financial Corp.  | 3842 |
|  |  | 13698 |
| **CHEMICALS—4.8%** | **CHEMICALS—4.8%** | **CHEMICALS—4.8%** |
| 25153 | Albemarle Corp.  | 4292 |
| 24911 | Eastman Chemical Co.  | 1727 |
| 49340 | Scotts Miracle-Gro Co.  | 3168 |
|  |  | 9187 |
| **COMMERCIAL SERVICES & SUPPLIES—2.0%** | **COMMERCIAL SERVICES & SUPPLIES—2.0%** | **COMMERCIAL SERVICES & SUPPLIES—2.0%** |
| 18390 | Republic Services, Inc.  | 3956 |
| **CONSTRUCTION & ENGINEERING—1.7%** | **CONSTRUCTION & ENGINEERING—1.7%** | **CONSTRUCTION & ENGINEERING—1.7%** |
| 4450 | EMCOR Group, Inc.  | 3207 |
| **CONSUMER STAPLES DISTRIBUTION & RETAIL—1.3%** | **CONSUMER STAPLES DISTRIBUTION & RETAIL—1.3%** | **CONSUMER STAPLES DISTRIBUTION & RETAIL—1.3%** |
| 28914 | Sysco Corp.  | 2424 |
| **CONTAINERS & PACKAGING—1.4%** | **CONTAINERS & PACKAGING—1.4%** | **CONTAINERS & PACKAGING—1.4%** |
| 11800 | Packaging Corp. of America  | 2626 |
| **ELECTRICAL EQUIPMENT—2.5%** | **ELECTRICAL EQUIPMENT—2.5%** | **ELECTRICAL EQUIPMENT—2.5%** |
| 67075 | Sensata Technologies Holding PLC  | 2320 |
| 13697 | Vertiv Holdings Co. Class A | 2550 |
|  |  | 4870 |
| **ELECTRONIC EQUIPMENT, INSTRUMENTS & COMPONENTS—3.8%** | **ELECTRONIC EQUIPMENT, INSTRUMENTS & COMPONENTS—3.8%** | **ELECTRONIC EQUIPMENT, INSTRUMENTS & COMPONENTS—3.8%** |
| 21461 | Arrow Electronics, Inc. <sup>\*</sup> | 2843 |
| 20598 | Keysight Technologies, Inc. <sup>\*</sup> | 4456 |
|  |  | 7299 |
| **ENERGY EQUIPMENT & SERVICES—1.7%** | **ENERGY EQUIPMENT & SERVICES—1.7%** | **ENERGY EQUIPMENT & SERVICES—1.7%** |
| 41024 | Helmerich & Payne, Inc.  | 1390 |
| 38333 | SLB Ltd.  | 1854 |
|  |  | 3244 |
| **FINANCIAL SERVICES—0.9%** | **FINANCIAL SERVICES—0.9%** | **FINANCIAL SERVICES—0.9%** |
| 24083 | Global Payments, Inc.  | 1728 |
| **GROUND TRANSPORTATION—1.5%** | **GROUND TRANSPORTATION—1.5%** | **GROUND TRANSPORTATION—1.5%** |
| 79255 | CSX Corp.  | 2993 |
| **HEALTH CARE PROVIDERS & SERVICES—4.8%** | **HEALTH CARE PROVIDERS & SERVICES—4.8%** | **HEALTH CARE PROVIDERS & SERVICES—4.8%** |
| 10385 | Cencora, Inc.  | 3730 |
| 57621 | Centene Corp. <sup>\*</sup> | 2496 |
| 11386 | Labcorp Holdings, Inc.  | 3092 |
|  |  | 9318 |

---

---

| | | |
|:---|:---|:---|
| **COMMON STOCKS—Continued** | **COMMON STOCKS—Continued** | **COMMON STOCKS—Continued** |
| **Shares** |  | **Value** |
| **HOTELS, RESTAURANTS & LEISURE—1.8%** | **HOTELS, RESTAURANTS & LEISURE—1.8%** | **HOTELS, RESTAURANTS & LEISURE—1.8%** |
| 17182 | Darden Restaurants, Inc.  | $3425 |
| **HOUSEHOLD DURABLES—1.6%** | **HOUSEHOLD DURABLES—1.6%** | **HOUSEHOLD DURABLES—1.6%** |
| 20288 | DR Horton, Inc.  | 3020 |
| **INDUSTRIAL REITS—0.7%** | **INDUSTRIAL REITS—0.7%** | **INDUSTRIAL REITS—0.7%** |
| 113482 | Americold Realty Trust, Inc.  | 1408 |
| **INSURANCE—4.8%** | **INSURANCE—4.8%** | **INSURANCE—4.8%** |
| 8660 | Progressive Corp.  | 1801 |
| 19149 | Reinsurance Group of America, Inc. Class A | 3883 |
| 12490 | RenaissanceRe Holdings Ltd. (Bermuda) | 3518 |
|  |  | 9202 |
| **IT SERVICES—3.2%** | **IT SERVICES—3.2%** | **IT SERVICES—3.2%** |
| 30535 | Akamai Technologies, Inc. <sup>\*</sup> | 2967 |
| 26326 | Twilio, Inc. Class A<sup>\*</sup> | 3171 |
|  |  | 6138 |
| **LIFE SCIENCES TOOLS & SERVICES—6.9%** | **LIFE SCIENCES TOOLS & SERVICES—6.9%** | **LIFE SCIENCES TOOLS & SERVICES—6.9%** |
| 20978 | Agilent Technologies, Inc.  | 2808 |
| 7625 | Bio-Rad Laboratories, Inc. Class A<sup>\*</sup> | 2240 |
| 20357 | IQVIA Holdings, Inc. <sup>\*</sup> | 4685 |
| 67006 | Qiagen NV  | 3596 |
|  |  | 13329 |
| **MACHINERY—6.3%** | **MACHINERY—6.3%** | **MACHINERY—6.3%** |
| 8729 | Cummins, Inc.  | 5053 |
| 17527 | Dover Corp.  | 3531 |
| 9937 | Snap-on, Inc.  | 3638 |
|  |  | 12222 |
| **MULTI-UTILITIES—1.7%** | **MULTI-UTILITIES—1.7%** | **MULTI-UTILITIES—1.7%** |
| 29362 | WEC Energy Group, Inc.  | 3250 |
| **OFFICE REITS—1.2%** | **OFFICE REITS—1.2%** | **OFFICE REITS—1.2%** |
| 36159 | BXP, Inc.  | 2338 |
| **OIL, GAS & CONSUMABLE FUELS—2.0%** | **OIL, GAS & CONSUMABLE FUELS—2.0%** | **OIL, GAS & CONSUMABLE FUELS—2.0%** |
| 95161 | Coterra Energy, Inc.  | 2745 |
| 34124 | Murphy Oil Corp.  | 1027 |
|  |  | 3772 |
| **PROFESSIONAL SERVICES—1.1%** | **PROFESSIONAL SERVICES—1.1%** | **PROFESSIONAL SERVICES—1.1%** |
| 10627 | Broadridge Financial Solutions, Inc.  | 2095 |
| **REAL ESTATE MANAGEMENT & DEVELOPMENT—2.9%** | **REAL ESTATE MANAGEMENT & DEVELOPMENT—2.9%** | **REAL ESTATE MANAGEMENT & DEVELOPMENT—2.9%** |
| 32951 | CBRE Group, Inc. Class A<sup>\*</sup> | 5613 |
| **SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT—5.4%** | **SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT—5.4%** | **SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT—5.4%** |
| 9695 | Applied Materials, Inc.  | 3125 |
| 42957 | Entegris, Inc.  | 5072 |
| 40024 | Skyworks Solutions, Inc.  | 2232 |
|  |  | 10429 |
| **SOFTWARE—1.8%** | **SOFTWARE—1.8%** | **SOFTWARE—1.8%** |
| 7590 | Synopsys, Inc. <sup>\*</sup> | 3530 |
| **SPECIALIZED REITS—0.9%** | **SPECIALIZED REITS—0.9%** | **SPECIALIZED REITS—0.9%** |
| 9868 | SBA Communications Corp.  | 1817 |
| **SPECIALTY RETAIL—5.4%** | **SPECIALTY RETAIL—5.4%** | **SPECIALTY RETAIL—5.4%** |
| 19011 | Ross Stores, Inc.  | 3587 |
| 17665 | TJX Cos., Inc.  | 2646 |
| 6383 | Ulta Beauty, Inc. <sup>\*</sup> | 4132 |
|  |  | 10365 |

---

------

⬤

------

**Harbor Mid Cap Fund**

**PORTFOLIO OF INVESTMENTS—Continued**

------

*Value and Cost in Thousands* 

---

| | | |
|:---|:---|:---|
| **COMMON STOCKS—Continued** | **COMMON STOCKS—Continued** | **COMMON STOCKS—Continued** |
| **Shares** |  | **Value** |
| **TRADING COMPANIES & DISTRIBUTORS—1.6%** | **TRADING COMPANIES & DISTRIBUTORS—1.6%** | **TRADING COMPANIES & DISTRIBUTORS—1.6%** |
| 16768 | GATX Corp.  | $3050 |
| &nbsp;&nbsp;&nbsp;&nbsp; **TOTAL COMMON STOCKS** <br>(Cost $139,957) | &nbsp;&nbsp;&nbsp;&nbsp; **TOTAL COMMON STOCKS** <br>(Cost $139,957) | 186190 |
| &nbsp;&nbsp;&nbsp;&nbsp; **TOTAL INVESTMENTS—96.6%** <br>(Cost $139,957) | &nbsp;&nbsp;&nbsp;&nbsp; **TOTAL INVESTMENTS—96.6%** <br>(Cost $139,957) | 186190 |
| **CASH AND OTHER ASSETS, LESS LIABILITIES—3.4%** | **CASH AND OTHER ASSETS, LESS LIABILITIES—3.4%** | 6502 |
| **TOTAL NET ASSETS—100%** | **TOTAL NET ASSETS—100%** | $192692 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

**FAIR VALUE MEASUREMENTS**

All investments as of January 31, 2026 (as disclosed in the preceding Portfolio of Investments) were classified as Level 1. <br>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.

------

⬤

------

**Harbor Mid Cap Value Fund**

**PORTFOLIO OF INVESTMENTS—January 31, 2026 (Unaudited)**

------

*Value and Cost in Thousands*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
| **COMMON STOCKS—98.7%** | **COMMON STOCKS—98.7%** | **COMMON STOCKS—98.7%** |
| **Shares** |  | **Value** |
| **AEROSPACE & DEFENSE—2.3%** | **AEROSPACE & DEFENSE—2.3%** | **AEROSPACE & DEFENSE—2.3%** |
| 9300 | Huntington Ingalls Industries, Inc.  | $3911 |
| 61100 | Textron, Inc.  | 5380 |
|  |  | 9291 |
| **AIR FREIGHT & LOGISTICS—0.6%** | **AIR FREIGHT & LOGISTICS—0.6%** | **AIR FREIGHT & LOGISTICS—0.6%** |
| 7800 | FedEx Corp.  | 2514 |
| **AUTOMOBILE COMPONENTS—1.9%** | **AUTOMOBILE COMPONENTS—1.9%** | **AUTOMOBILE COMPONENTS—1.9%** |
| 49100 | BorgWarner, Inc.  | 2328 |
| 103600 | Garrett Motion, Inc. (Switzerland) | 1869 |
| 68900 | Goodyear Tire & Rubber Co. <sup>\*</sup> | 648 |
| 13700 | Lear Corp.  | 1604 |
| 15700 | Phinia, Inc.  | 1118 |
|  |  | 7567 |
| **AUTOMOBILES—1.6%** | **AUTOMOBILES—1.6%** | **AUTOMOBILES—1.6%** |
| 60400 | General Motors Co.  | 5074 |
| 78300 | Harley-Davidson, Inc.  | 1550 |
|  |  | 6624 |
| **BANKS—4.7%** | **BANKS—4.7%** | **BANKS—4.7%** |
| 36462 | Bank of NT Butterfield & Son Ltd. (Bermuda) | 1888 |
| 83200 | Citizens Financial Group, Inc.  | 5240 |
| 175900 | First Horizon Corp.  | 4308 |
| 15900 | Popular, Inc. (Puerto Rico) | 2123 |
| 86800 | Regions Financial Corp.  | 2474 |
| 45500 | Zions Bancorp NA  | 2726 |
|  |  | 18759 |
| **BEVERAGES—0.9%** | **BEVERAGES—0.9%** | **BEVERAGES—0.9%** |
| 73000 | Molson Coors Beverage Co. Class B | 3507 |
| **BIOTECHNOLOGY—4.1%** | **BIOTECHNOLOGY—4.1%** | **BIOTECHNOLOGY—4.1%** |
| 8200 | Biogen, Inc. <sup>\*</sup> | 1475 |
| 21400 | BioMarin Pharmaceutical, Inc. <sup>\*</sup> | 1210 |
| 78000 | Exelixis, Inc. <sup>\*</sup> | 3226 |
| 32500 | Halozyme Therapeutics, Inc. <sup>\*</sup> | 2330 |
| 44400 | Incyte Corp. <sup>\*</sup> | 4443 |
| 2500 | Regeneron Pharmaceuticals, Inc.  | 1854 |
| 4300 | United Therapeutics Corp. <sup>\*</sup> | 2019 |
|  |  | 16557 |
| **BROADLINE RETAIL—1.5%** | **BROADLINE RETAIL—1.5%** | **BROADLINE RETAIL—1.5%** |
| 49900 | eBay, Inc.  | 4552 |
| 82300 | Macy's, Inc.  | 1648 |
|  |  | 6200 |
| **BUILDING PRODUCTS—0.4%** | **BUILDING PRODUCTS—0.4%** | **BUILDING PRODUCTS—0.4%** |
| 13500 | Owens Corning  | 1618 |
| **CAPITAL MARKETS—4.7%** | **CAPITAL MARKETS—4.7%** | **CAPITAL MARKETS—4.7%** |
| 5300 | Affiliated Managers Group, Inc.  | 1659 |
| 2300 | Ameriprise Financial, Inc.  | 1213 |
| 44900 | Bank of New York Mellon Corp.  | 5384 |
| 69300 | Federated Hermes, Inc.  | 3692 |
| 54560 | State Street Corp.  | 7140 |
|  |  | 19088 |
| **CHEMICALS—2.1%** | **CHEMICALS—2.1%** | **CHEMICALS—2.1%** |
| 28000 | CF Industries Holdings, Inc.  | 2610 |
| 19500 | Eastman Chemical Co.  | 1352 |
| 43600 | Koppers Holdings, Inc.  | 1285 |
| 4200 | NewMarket Corp.  | 2817 |
| 43200 | Orion SA (Germany) | 267 |
|  |  | 8331 |

---

---

| | | |
|:---|:---|:---|
| **COMMON STOCKS—Continued** | **COMMON STOCKS—Continued** | **COMMON STOCKS—Continued** |
| **Shares** |  | **Value** |
| **COMMERCIAL SERVICES & SUPPLIES—1.2%** | **COMMERCIAL SERVICES & SUPPLIES—1.2%** | **COMMERCIAL SERVICES & SUPPLIES—1.2%** |
| 33500 | ABM Industries, Inc.  | $1542 |
| 18200 | Brink's Co.  | 2312 |
| 112600 | Pitney Bowes, Inc.  | 1175 |
|  |  | 5029 |
| **COMMUNICATIONS EQUIPMENT—0.3%** | **COMMUNICATIONS EQUIPMENT—0.3%** | **COMMUNICATIONS EQUIPMENT—0.3%** |
| 46907 | NetScout Systems, Inc. <sup>\*</sup> | 1304 |
| **CONSUMER FINANCE—2.2%** | **CONSUMER FINANCE—2.2%** | **CONSUMER FINANCE—2.2%** |
| 88200 | Ally Financial, Inc.  | 3729 |
| 103400 | Navient Corp.  | 1015 |
| 29200 | PROG Holdings, Inc.  | 947 |
| 46400 | Synchrony Financial  | 3370 |
|  |  | 9061 |
| **CONSUMER STAPLES DISTRIBUTION & RETAIL—1.6%** | **CONSUMER STAPLES DISTRIBUTION & RETAIL—1.6%** | **CONSUMER STAPLES DISTRIBUTION & RETAIL—1.6%** |
| 95300 | Albertsons Cos., Inc. Class A | 1587 |
| 79200 | Kroger Co.  | 4977 |
|  |  | 6564 |
| **CONTAINERS & PACKAGING—1.4%** | **CONTAINERS & PACKAGING—1.4%** | **CONTAINERS & PACKAGING—1.4%** |
| 27600 | Crown Holdings, Inc.  | 2889 |
| 54200 | Sonoco Products Co.  | 2602 |
|  |  | 5491 |
| **DIVERSIFIED CONSUMER SERVICES—0.9%** | **DIVERSIFIED CONSUMER SERVICES—0.9%** | **DIVERSIFIED CONSUMER SERVICES—0.9%** |
| 285800 | ADT, Inc.  | 2286 |
| 29400 | H&R Block, Inc.  | 1160 |
|  |  | 3446 |
| **DIVERSIFIED REITS—0.6%** | **DIVERSIFIED REITS—0.6%** | **DIVERSIFIED REITS—0.6%** |
| 62318 | American Assets Trust, Inc.  | 1125 |
| 77200 | Broadstone Net Lease, Inc.  | 1429 |
|  |  | 2554 |
| **ELECTRIC UTILITIES—1.6%** | **ELECTRIC UTILITIES—1.6%** | **ELECTRIC UTILITIES—1.6%** |
| 35300 | Edison International  | 2198 |
| 31600 | Eversource Energy  | 2185 |
| 23100 | Otter Tail Corp.  | 2060 |
|  |  | 6443 |
| **ELECTRICAL EQUIPMENT—1.3%** | **ELECTRICAL EQUIPMENT—1.3%** | **ELECTRICAL EQUIPMENT—1.3%** |
| 30050 | Atkore, Inc.  | 2087 |
| 17400 | EnerSys  | 3135 |
|  |  | 5222 |
| **ELECTRONIC EQUIPMENT, INSTRUMENTS & COMPONENTS—2.9%** | **ELECTRONIC EQUIPMENT, INSTRUMENTS & COMPONENTS—2.9%** | **ELECTRONIC EQUIPMENT, INSTRUMENTS & COMPONENTS—2.9%** |
| 23300 | Arrow Electronics, Inc. <sup>\*</sup> | 3087 |
| 24200 | Avnet, Inc.  | 1510 |
| 29800 | Flex Ltd. <sup>\*</sup> | 1879 |
| 8900 | Jabil, Inc.  | 2111 |
| 19300 | TD SYNNEX Corp.  | 3062 |
|  |  | 11649 |
| **ENERGY EQUIPMENT & SERVICES—0.8%** | **ENERGY EQUIPMENT & SERVICES—0.8%** | **ENERGY EQUIPMENT & SERVICES—0.8%** |
| 99400 | Halliburton Co.  | 3332 |
| **FINANCIAL SERVICES—3.0%** | **FINANCIAL SERVICES—3.0%** | **FINANCIAL SERVICES—3.0%** |
| 51588 | Banco Latinoamericano de Comercio Exterior SA (Panama) | 2500 |
| 79000 | Corebridge Financial, Inc.  | 2436 |
| 105300 | MGIC Investment Corp.  | 2835 |
| 77000 | Radian Group, Inc.  | 2533 |
| 169700 | Western Union Co.  | 1590 |
|  |  | 11894 |

---

------

⬤

------

**Harbor Mid Cap Value Fund**

**PORTFOLIO OF INVESTMENTS—Continued**

------

*Value and Cost in Thousands* 

---

| | | |
|:---|:---|:---|
| **COMMON STOCKS—Continued** | **COMMON STOCKS—Continued** | **COMMON STOCKS—Continued** |
| **Shares** |  | **Value** |
| **FOOD PRODUCTS—3.9%** | **FOOD PRODUCTS—3.9%** | **FOOD PRODUCTS—3.9%** |
| 37700 | Archer-Daniels-Midland Co.  | $2538 |
| 25000 | Campbell's Co.  | 700 |
| 89500 | Conagra Brands, Inc.  | 1657 |
| 36900 | Fresh Del Monte Produce, Inc.  | 1463 |
| 53900 | General Mills, Inc.  | 2493 |
| 23800 | Ingredion, Inc.  | 2811 |
| 17100 | J.M. Smucker Co.  | 1793 |
| 84600 | Kraft Heinz Co.  | 2008 |
| 22800 | Simply Good Foods Co. <sup>\*</sup> | 428 |
|  |  | 15891 |
| **GAS UTILITIES—1.6%** | **GAS UTILITIES—1.6%** | **GAS UTILITIES—1.6%** |
| 33400 | National Fuel Gas Co.  | 2797 |
| 92700 | UGI Corp.  | 3718 |
|  |  | 6515 |
| **GROUND TRANSPORTATION—1.0%** | **GROUND TRANSPORTATION—1.0%** | **GROUND TRANSPORTATION—1.0%** |
| 20000 | Ryder System, Inc.  | 3826 |
| **HEALTH CARE EQUIPMENT & SUPPLIES—0.6%** | **HEALTH CARE EQUIPMENT & SUPPLIES—0.6%** | **HEALTH CARE EQUIPMENT & SUPPLIES—0.6%** |
| 8800 | Align Technology, Inc. <sup>\*</sup> | 1435 |
| 51500 | Baxter International, Inc.  | 1033 |
|  |  | 2468 |
| **HEALTH CARE PROVIDERS & SERVICES—1.7%** | **HEALTH CARE PROVIDERS & SERVICES—1.7%** | **HEALTH CARE PROVIDERS & SERVICES—1.7%** |
| 24900 | Centene Corp. <sup>\*</sup> | 1079 |
| 17000 | DaVita, Inc. <sup>\*</sup> | 1859 |
| 9800 | Tenet Healthcare Corp. <sup>\*</sup> | 1855 |
| 10800 | Universal Health Services, Inc. Class B | 2173 |
|  |  | 6966 |
| **HEALTH CARE REITS—1.0%** | **HEALTH CARE REITS—1.0%** | **HEALTH CARE REITS—1.0%** |
| 75000 | Healthpeak Properties, Inc.  | 1293 |
| 30000 | Omega Healthcare Investors, Inc.  | 1317 |
| 72300 | Sabra Health Care REIT, Inc.  | 1354 |
|  |  | 3964 |
| **HOTEL & RESORT REITS—0.7%** | **HOTEL & RESORT REITS—0.7%** | **HOTEL & RESORT REITS—0.7%** |
| 121000 | Host Hotels & Resorts, Inc.  | 2242 |
| 65800 | Park Hotels & Resorts, Inc.  | 719 |
|  |  | 2961 |
| **HOTELS, RESTAURANTS & LEISURE—1.1%** | **HOTELS, RESTAURANTS & LEISURE—1.1%** | **HOTELS, RESTAURANTS & LEISURE—1.1%** |
| 77800 | Bloomin' Brands, Inc.  | 467 |
| 11500 | Expedia Group, Inc.  | 3046 |
| 31100 | MGM Resorts International <sup>\*</sup> | 1043 |
|  |  | 4556 |
| **HOUSEHOLD DURABLES—3.0%** | **HOUSEHOLD DURABLES—3.0%** | **HOUSEHOLD DURABLES—3.0%** |
| 16100 | KB Home  | 926 |
| 41100 | PulteGroup, Inc.  | 5141 |
| 34500 | Toll Brothers, Inc.  | 4985 |
| 13300 | Whirlpool Corp.  | 1064 |
|  |  | 12116 |
| **HOUSEHOLD PRODUCTS—0.5%** | **HOUSEHOLD PRODUCTS—0.5%** | **HOUSEHOLD PRODUCTS—0.5%** |
| 30800 | Central Garden & Pet Co. Class A<sup>\*</sup> | 945 |
| 40600 | Energizer Holdings, Inc.  | 886 |
|  |  | 1831 |
| **INDUSTRIAL REITS—0.2%** | **INDUSTRIAL REITS—0.2%** | **INDUSTRIAL REITS—0.2%** |
| 13100 | Innovative Industrial Properties, Inc.  | 633 |
| **INSURANCE—5.0%** | **INSURANCE—5.0%** | **INSURANCE—5.0%** |
| 8300 | Allstate Corp.  | 1652 |
| 45280 | American International Group, Inc.  | 3391 |

---

---

| | | |
|:---|:---|:---|
| **COMMON STOCKS—Continued** | **COMMON STOCKS—Continued** | **COMMON STOCKS—Continued** |
| **Shares** |  | **Value** |
| **INSURANCE—Continued** | **INSURANCE—Continued** | **INSURANCE—Continued** |
| 45100 | CNO Financial Group, Inc.  | $1896 |
| 90900 | Fidelis Insurance Holdings Ltd. (United Kingdom) | 1731 |
| 29500 | Hartford Insurance Group, Inc.  | 3984 |
| 25800 | Lincoln National Corp.  | 1073 |
| 93100 | Old Republic International Corp.  | 3647 |
| 37000 | Unum Group  | 2811 |
|  |  | 20185 |
| **INTERACTIVE MEDIA & SERVICES—1.3%** | **INTERACTIVE MEDIA & SERVICES—1.3%** | **INTERACTIVE MEDIA & SERVICES—1.3%** |
| 158300 | Angi, Inc. <sup>\*</sup> | 2055 |
| 50000 | Match Group, Inc.  | 1557 |
| 55100 | Yelp, Inc. <sup>\*</sup> | 1509 |
|  |  | 5121 |
| **IT SERVICES—0.7%** | **IT SERVICES—0.7%** | **IT SERVICES—0.7%** |
| 23200 | Amdocs Ltd.  | 1901 |
| 73300 | DXC Technology Co. <sup>\*</sup> | 1058 |
|  |  | 2959 |
| **LEISURE PRODUCTS—0.3%** | **LEISURE PRODUCTS—0.3%** | **LEISURE PRODUCTS—0.3%** |
| 64100 | Mattel, Inc. <sup>\*</sup> | 1339 |
| **MACHINERY—5.0%** | **MACHINERY—5.0%** | **MACHINERY—5.0%** |
| 10200 | AGCO Corp.  | 1157 |
| 41900 | Allison Transmission Holdings, Inc.  | 4555 |
| 239900 | CNH Industrial NV  | 2581 |
| 7000 | Cummins, Inc.  | 4052 |
| 65235 | Gates Industrial Corp. PLC <sup>\*</sup> | 1502 |
| 22200 | Mueller Industries, Inc.  | 3022 |
| 22600 | Oshkosh Corp.  | 3250 |
|  |  | 20119 |
| **MEDIA—2.7%** | **MEDIA—2.7%** | **MEDIA—2.7%** |
| 76800 | Fox Corp. Class A | 5590 |
| 13100 | Nexstar Media Group, Inc.  | 2782 |
| 42600 | Sirius XM Holdings, Inc.  | 867 |
| 78300 | TEGNA, Inc.  | 1500 |
|  |  | 10739 |
| **METALS & MINING—0.4%** | **METALS & MINING—0.4%** | **METALS & MINING—0.4%** |
| 22600 | Commercial Metals Co.  | 1737 |
| **MORTGAGE REAL ESTATE INVESTMENT TRUSTS (REITS)—0.3%** | **MORTGAGE REAL ESTATE INVESTMENT TRUSTS (REITS)—0.3%** | **MORTGAGE REAL ESTATE INVESTMENT TRUSTS (REITS)—0.3%** |
| 53000 | Annaly Capital Management, Inc.  | 1220 |
| **OFFICE REITS—1.2%** | **OFFICE REITS—1.2%** | **OFFICE REITS—1.2%** |
| 99400 | Brandywine Realty Trust  | 281 |
| 78500 | Cousins Properties, Inc.  | 1981 |
| 57700 | Highwoods Properties, Inc.  | 1492 |
| 138248 | Piedmont Realty Trust, Inc.  | 1164 |
|  |  | 4918 |
| **OIL, GAS & CONSUMABLE FUELS—6.0%** | **OIL, GAS & CONSUMABLE FUELS—6.0%** | **OIL, GAS & CONSUMABLE FUELS—6.0%** |
| 91300 | APA Corp.  | 2411 |
| 5700 | Chord Energy Corp.  | 571 |
| 65000 | Devon Energy Corp.  | 2614 |
| 132800 | DHT Holdings, Inc.  | 1903 |
| 51000 | HF Sinclair Corp.  | 2651 |
| 14100 | Marathon Petroleum Corp.  | 2484 |
| 79900 | Matador Resources Co.  | 3615 |
| 111600 | Navigator Holdings Ltd.  | 2068 |
| 8300 | Phillips 66  | 1192 |
| 25900 | Scorpio Tankers, Inc. (Monaco) | 1648 |
| 10700 | Valero Energy Corp.  | 1941 |
| 35900 | World Kinect Corp.  | 966 |
|  |  | 24064 |

---

------

⬤

------

**Harbor Mid Cap Value Fund**

**PORTFOLIO OF INVESTMENTS—Continued**

------

*Value and Cost in Thousands* 

---

| | | |
|:---|:---|:---|
| **COMMON STOCKS—Continued** | **COMMON STOCKS—Continued** | **COMMON STOCKS—Continued** |
| **Shares** |  | **Value** |
| **PAPER & FOREST PRODUCTS—0.3%** | **PAPER & FOREST PRODUCTS—0.3%** | **PAPER & FOREST PRODUCTS—0.3%** |
| 20900 | Sylvamo Corp.  | $1023 |
| **PASSENGER AIRLINES—1.5%** | **PASSENGER AIRLINES—1.5%** | **PASSENGER AIRLINES—1.5%** |
| 43300 | Delta Air Lines, Inc.  | 2853 |
| 31500 | United Airlines Holdings, Inc. <sup>\*</sup> | 3223 |
|  |  | 6076 |
| **PERSONAL CARE PRODUCTS—0.5%** | **PERSONAL CARE PRODUCTS—0.5%** | **PERSONAL CARE PRODUCTS—0.5%** |
| 115300 | Herbalife Ltd. <sup>\*</sup> | 1988 |
| **PHARMACEUTICALS—2.4%** | **PHARMACEUTICALS—2.4%** | **PHARMACEUTICALS—2.4%** |
| 53300 | Harmony Biosciences Holdings, Inc. <sup>\*</sup> | 1947 |
| 29400 | Jazz Pharmaceuticals PLC <sup>\*</sup> | 4836 |
| 104900 | Organon & Co.  | 896 |
| 142800 | Viatris, Inc.  | 1869 |
|  |  | 9548 |
| **PROFESSIONAL SERVICES—2.3%** | **PROFESSIONAL SERVICES—2.3%** | **PROFESSIONAL SERVICES—2.3%** |
| 26400 | CSG Systems International, Inc.  | 2105 |
| 29900 | Genpact Ltd.  | 1319 |
| 27500 | ManpowerGroup, Inc.  | 999 |
| 14760 | Science Applications International Corp.  | 1502 |
| 22400 | SS&C Technologies Holdings, Inc.  | 1834 |
| 65200 | Upwork, Inc. <sup>\*</sup> | 1306 |
|  |  | 9065 |
| **RETAIL REITS—0.8%** | **RETAIL REITS—0.8%** | **RETAIL REITS—0.8%** |
| 39100 | Brixmor Property Group, Inc.  | 1047 |
| 99100 | Kite Realty Group Trust  | 2328 |
|  |  | 3375 |
| **SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT—1.7%** | **SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT—1.7%** | **SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT—1.7%** |
| 28900 | Amkor Technology, Inc.  | 1397 |
| 24000 | Cirrus Logic, Inc. <sup>\*</sup> | 3128 |
| 62100 | Photronics, Inc. <sup>\*</sup> | 2147 |
|  |  | 6672 |
| **SOFTWARE—2.1%** | **SOFTWARE—2.1%** | **SOFTWARE—2.1%** |
| 108800 | Dropbox, Inc. Class A<sup>\*</sup> | 2772 |
| 81100 | Gen Digital, Inc.  | 1945 |

---

---

| | | |
|:---|:---|:---|
| **COMMON STOCKS—Continued** | **COMMON STOCKS—Continued** | **COMMON STOCKS—Continued** |
| **Shares** |  | **Value** |
| **SOFTWARE—Continued** | **SOFTWARE—Continued** | **SOFTWARE—Continued** |
| 52000 | RingCentral, Inc. Class A<sup>\*</sup> | $1346 |
| 27000 | Zoom Communications, Inc. <sup>\*</sup> | 2487 |
|  |  | 8550 |
| **SPECIALIZED REITS—0.6%** | **SPECIALIZED REITS—0.6%** | **SPECIALIZED REITS—0.6%** |
| 42800 | EPR Properties  | 2321 |
| **SPECIALTY RETAIL—2.1%** | **SPECIALTY RETAIL—2.1%** | **SPECIALTY RETAIL—2.1%** |
| 7200 | AutoNation, Inc. <sup>\*</sup> | 1476 |
| 16400 | Best Buy Co., Inc.  | 1068 |
| 75800 | Gap, Inc.  | 2121 |
| 2600 | Group 1 Automotive, Inc.  | 921 |
| 11200 | Penske Automotive Group, Inc.  | 1756 |
| 13900 | Signet Jewelers Ltd.  | 1282 |
|  |  | 8624 |
| **TECHNOLOGY HARDWARE, STORAGE & PERIPHERALS—3.2%** | **TECHNOLOGY HARDWARE, STORAGE & PERIPHERALS—3.2%** | **TECHNOLOGY HARDWARE, STORAGE & PERIPHERALS—3.2%** |
| 147900 | HP, Inc.  | 2875 |
| 12500 | Sandisk Corp. <sup>\*</sup> | 7203 |
| 11500 | Western Digital Corp.  | 2878 |
|  |  | 12956 |
| **TEXTILES, APPAREL & LUXURY GOODS—0.4%** | **TEXTILES, APPAREL & LUXURY GOODS—0.4%** | **TEXTILES, APPAREL & LUXURY GOODS—0.4%** |
| 28100 | G-III Apparel Group Ltd.  | 825 |
| 12350 | PVH Corp.  | 770 |
|  |  | 1595 |
| &nbsp;&nbsp;&nbsp;&nbsp; **TOTAL COMMON STOCKS** <br>(Cost $310,588) | &nbsp;&nbsp;&nbsp;&nbsp; **TOTAL COMMON STOCKS** <br>(Cost $310,588) | 397966 |
| &nbsp;&nbsp;&nbsp;&nbsp; **TOTAL INVESTMENTS—98.7%** <br>(Cost $310,588) | &nbsp;&nbsp;&nbsp;&nbsp; **TOTAL INVESTMENTS—98.7%** <br>(Cost $310,588) | 397966 |
| **CASH AND OTHER ASSETS, LESS LIABILITIES—1.3%** | **CASH AND OTHER ASSETS, LESS LIABILITIES—1.3%** | 5408 |
| **TOTAL NET ASSETS—100%** | **TOTAL NET ASSETS—100%** | $403374 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

**FAIR VALUE MEASUREMENTS**

All investments as of January 31, 2026 (as disclosed in the preceding Portfolio of Investments) were classified as Level 1. <br>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.

------

⬤

------

**Harbor Small Cap Growth Fund**

**PORTFOLIO OF INVESTMENTS—January 31, 2026 (Unaudited)**

------

*Value and Cost in Thousands*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
| **COMMON STOCKS—96.6%** | **COMMON STOCKS—96.6%** | **COMMON STOCKS—96.6%** |
| **Shares** |  | **Value** |
| **AEROSPACE & DEFENSE—3.8%** | **AEROSPACE & DEFENSE—3.8%** | **AEROSPACE & DEFENSE—3.8%** |
| 443303 | Karman Holdings, Inc. <sup>\*</sup> | $46015 |
| 395463 | Kratos Defense & Security Solutions, Inc. <sup>\*</sup> | 40737 |
|  |  | 86752 |
| **AUTOMOBILE COMPONENTS—1.1%** | **AUTOMOBILE COMPONENTS—1.1%** | **AUTOMOBILE COMPONENTS—1.1%** |
| 204027 | Dorman Products, Inc. <sup>\*</sup> | 25340 |
| **BANKS—3.1%** | **BANKS—3.1%** | **BANKS—3.1%** |
| 353415 | East West Bancorp, Inc.  | 40445 |
| 214455 | Wintrust Financial Corp.  | 31630 |
|  |  | 72075 |
| **BEVERAGES—1.1%** | **BEVERAGES—1.1%** | **BEVERAGES—1.1%** |
| 474328 | Vita Coco Co., Inc. <sup>\*</sup> | 25305 |
| **BIOTECHNOLOGY—13.5%** | **BIOTECHNOLOGY—13.5%** | **BIOTECHNOLOGY—13.5%** |
| 276950 | Abivax SA ADR (France)<sup>\*,1</sup> | 30783 |
| 1676832 | ADMA Biologics, Inc. <sup>\*</sup> | 29009 |
| 522213 | Ascendis Pharma AS ADR (Denmark)<sup>\*,1</sup> | 118072 |
| 965187 | Bicycle Therapeutics PLC ADR (United Kingdom)<sup>\*,1</sup> | 6196 |
| 760321 | Legend Biotech Corp. ADR<sup>\*,1</sup> | 13306 |
| 252214 | Revolution Medicines, Inc. <sup>\*</sup> | 24452 |
| 329190 | Rhythm Pharmaceuticals, Inc. <sup>\*</sup> | 33749 |
| 792805 | Vaxcyte, Inc. <sup>\*</sup> | 42471 |
| 271074 | Xenon Pharmaceuticals, Inc. (Canada)<sup>\*</sup> | 11117 |
|  |  | 309155 |
| **BROADLINE RETAIL—0.3%** | **BROADLINE RETAIL—0.3%** | **BROADLINE RETAIL—0.3%** |
| 520965 | Pattern Group, Inc. Class A<sup>\*</sup> | 7200 |
| **CAPITAL MARKETS—3.8%** | **CAPITAL MARKETS—3.8%** | **CAPITAL MARKETS—3.8%** |
| 161166 | Hamilton Lane, Inc. Class A | 22763 |
| 240465 | Houlihan Lokey, Inc.  | 40475 |
| 347543 | StepStone Group, Inc. Class A | 24568 |
|  |  | 87806 |
| **CHEMICALS—1.1%** | **CHEMICALS—1.1%** | **CHEMICALS—1.1%** |
| 694311 | Avient Corp.  | 25099 |
| **COMMERCIAL SERVICES & SUPPLIES—1.8%** | **COMMERCIAL SERVICES & SUPPLIES—1.8%** | **COMMERCIAL SERVICES & SUPPLIES—1.8%** |
| 404720 | Casella Waste Systems, Inc. Class A<sup>\*</sup> | 40828 |
| **COMMUNICATIONS EQUIPMENT—1.5%** | **COMMUNICATIONS EQUIPMENT—1.5%** | **COMMUNICATIONS EQUIPMENT—1.5%** |
| 759639 | Calix, Inc. <sup>\*</sup> | 33933 |
| **CONSTRUCTION & ENGINEERING—8.2%** | **CONSTRUCTION & ENGINEERING—8.2%** | **CONSTRUCTION & ENGINEERING—8.2%** |
| 703820 | API Group Corp. <sup>\*</sup> | 29258 |
| 67639 | Comfort Systems USA, Inc.  | 77250 |
| 713255 | Legence Corp. Class A<sup>\*</sup> | 33459 |
| 320279 | Primoris Services Corp.  | 47481 |
|  |  | 187448 |
| **CONSUMER FINANCE—1.7%** | **CONSUMER FINANCE—1.7%** | **CONSUMER FINANCE—1.7%** |
| 225211 | FirstCash Holdings, Inc.  | 38398 |
| **ELECTRICAL EQUIPMENT—5.7%** | **ELECTRICAL EQUIPMENT—5.7%** | **ELECTRICAL EQUIPMENT—5.7%** |
| 289762 | Bloom Energy Corp. Class A<sup>\*</sup> | 43861 |
| 497225 | Nextpower, Inc. Class A<sup>\*</sup> | 58220 |
| 182262 | Regal Rexnord Corp.  | 29436 |
|  |  | 131517 |
| **ELECTRONIC EQUIPMENT, INSTRUMENTS & COMPONENTS—3.3%** | **ELECTRONIC EQUIPMENT, INSTRUMENTS & COMPONENTS—3.3%** | **ELECTRONIC EQUIPMENT, INSTRUMENTS & COMPONENTS—3.3%** |
| 87955 | Fabrinet (Thailand)<sup>\*</sup> | 43049 |
| 166970 | Plexus Corp. <sup>\*</sup> | 33282 |
|  |  | 76331 |

---

---

| | | |
|:---|:---|:---|
| **COMMON STOCKS—Continued** | **COMMON STOCKS—Continued** | **COMMON STOCKS—Continued** |
| **Shares** |  | **Value** |
| **ENERGY EQUIPMENT & SERVICES—0.9%** | **ENERGY EQUIPMENT & SERVICES—0.9%** | **ENERGY EQUIPMENT & SERVICES—0.9%** |
| 365200 | TechnipFMC PLC (United Kingdom) | $20349 |
| **ENTERTAINMENT—1.6%** | **ENTERTAINMENT—1.6%** | **ENTERTAINMENT—1.6%** |
| 1045882 | IMAX Corp. <sup>\*</sup> | 36512 |
| **GROUND TRANSPORTATION—1.4%** | **GROUND TRANSPORTATION—1.4%** | **GROUND TRANSPORTATION—1.4%** |
| 94383 | Saia, Inc. <sup>\*</sup> | 31606 |
| **HEALTH CARE EQUIPMENT & SUPPLIES—1.9%** | **HEALTH CARE EQUIPMENT & SUPPLIES—1.9%** | **HEALTH CARE EQUIPMENT & SUPPLIES—1.9%** |
| 66263 | IRhythm Holdings, Inc. <sup>\*</sup> | 10238 |
| 244578 | Masimo Corp. <sup>\*</sup> | 33588 |
|  |  | 43826 |
| **HEALTH CARE PROVIDERS & SERVICES—5.1%** | **HEALTH CARE PROVIDERS & SERVICES—5.1%** | **HEALTH CARE PROVIDERS & SERVICES—5.1%** |
| 293193 | GeneDx Holdings Corp. <sup>\*</sup> | 28223 |
| 248100 | Guardant Health, Inc. <sup>\*</sup> | 28293 |
| 314877 | HealthEquity, Inc. <sup>\*</sup> | 26975 |
| 528084 | Option Care Health, Inc. <sup>\*</sup> | 17955 |
| 232323 | RadNet, Inc. <sup>\*</sup> | 16286 |
|  |  | 117732 |
| **HOTELS, RESTAURANTS & LEISURE—3.4%** | **HOTELS, RESTAURANTS & LEISURE—3.4%** | **HOTELS, RESTAURANTS & LEISURE—3.4%** |
| 407210 | Dutch Bros, Inc. Class A<sup>\*</sup> | 22148 |
| 3261173 | Genius Sports Ltd. (United Kingdom)<sup>\*</sup> | 28372 |
| 971467 | Life Time Group Holdings, Inc. <sup>\*</sup> | 28338 |
|  |  | 78858 |
| **HOUSEHOLD DURABLES—2.4%** | **HOUSEHOLD DURABLES—2.4%** | **HOUSEHOLD DURABLES—2.4%** |
| 115988 | TopBuild Corp. <sup>\*</sup> | 54288 |
| **INSURANCE—1.7%** | **INSURANCE—1.7%** | **INSURANCE—1.7%** |
| 305274 | Palomar Holdings, Inc. <sup>\*</sup> | 37729 |
| **IT SERVICES—0.4%** | **IT SERVICES—0.4%** | **IT SERVICES—0.4%** |
| 240890 | Applied Digital Corp. <sup>\*</sup> | 8161 |
| **LIFE SCIENCES TOOLS & SERVICES—1.6%** | **LIFE SCIENCES TOOLS & SERVICES—1.6%** | **LIFE SCIENCES TOOLS & SERVICES—1.6%** |
| 895000 | Adaptive Biotechnologies Corp. <sup>\*</sup> | 16558 |
| 71758 | Bio-Rad Laboratories, Inc. Class A<sup>\*</sup> | 21075 |
|  |  | 37633 |
| **MACHINERY—2.7%** | **MACHINERY—2.7%** | **MACHINERY—2.7%** |
| 262154 | ITT, Inc.  | 47791 |
| 66010 | SPX Technologies, Inc. <sup>\*</sup> | 13757 |
|  |  | 61548 |
| **MEDIA—0.5%** | **MEDIA—0.5%** | **MEDIA—0.5%** |
| 691819 | NIQ Global Intelligence PLC <sup>\*</sup> | 11754 |
| **METALS & MINING—0.5%** | **METALS & MINING—0.5%** | **METALS & MINING—0.5%** |
| 583810 | Coeur Mining, Inc. <sup>\*</sup> | 11933 |
| **OIL, GAS & CONSUMABLE FUELS—0.8%** | **OIL, GAS & CONSUMABLE FUELS—0.8%** | **OIL, GAS & CONSUMABLE FUELS—0.8%** |
| 1184760 | Permian Resources Corp.  | 19110 |
| **SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT—7.2%** | **SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT—7.2%** | **SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT—7.2%** |
| 255902 | Credo Technology Group Holding Ltd. <sup>\*</sup> | 32059 |
| 313424 | Lattice Semiconductor Corp. <sup>\*</sup> | 25237 |
| 164598 | MKS, Inc.  | 38748 |
| 155167 | Onto Innovation, Inc. <sup>\*</sup> | 31352 |
| 79584 | Rambus, Inc. <sup>\*</sup> | 9059 |
| 359201 | Semtech Corp. <sup>\*</sup> | 28646 |
|  |  | 165101 |
| **SOFTWARE—5.6%** | **SOFTWARE—5.6%** | **SOFTWARE—5.6%** |
| 1462426 | Braze, Inc. Class A<sup>\*</sup> | 30448 |
| 254265 | Commvault Systems, Inc. <sup>\*</sup> | 21790 |
| 210362 | Descartes Systems Group, Inc. (Canada)<sup>\*</sup> | 15727 |

---

------

⬤

------

**Harbor Small Cap Growth Fund**

**PORTFOLIO OF INVESTMENTS—Continued**

------

*Value and Cost in Thousands* 

---

| | | |
|:---|:---|:---|
| **COMMON STOCKS—Continued** | **COMMON STOCKS—Continued** | **COMMON STOCKS—Continued** |
| **Shares** |  | **Value** |
| **SOFTWARE—Continued** | **SOFTWARE—Continued** | **SOFTWARE—Continued** |
| 816554 | Dynatrace, Inc. <sup>\*</sup> | $31103 |
| 318258 | Procore Technologies, Inc. <sup>\*</sup> | 17978 |
| 738120 | Riot Platforms, Inc. <sup>\*</sup> | 11419 |
|  |  | 128465 |
| **SPECIALTY RETAIL—1.0%** | **SPECIALTY RETAIL—1.0%** | **SPECIALTY RETAIL—1.0%** |
| 54006 | Murphy USA, Inc.  | 22818 |
| **TECHNOLOGY HARDWARE, STORAGE & PERIPHERALS—0.4%** | **TECHNOLOGY HARDWARE, STORAGE & PERIPHERALS—0.4%** | **TECHNOLOGY HARDWARE, STORAGE & PERIPHERALS—0.4%** |
| 235748 | IonQ, Inc. <sup>\*</sup> | 9425 |
| **TEXTILES, APPAREL & LUXURY GOODS—1.2%** | **TEXTILES, APPAREL & LUXURY GOODS—1.2%** | **TEXTILES, APPAREL & LUXURY GOODS—1.2%** |
| 729544 | Birkenstock Holding PLC (Germany)<sup>\*</sup> | 27548 |

---

---

| | | |
|:---|:---|:---|
| **COMMON STOCKS—Continued** | **COMMON STOCKS—Continued** | **COMMON STOCKS—Continued** |
| **Shares** |  | **Value** |
| **TRADING COMPANIES & DISTRIBUTORS—6.3%** | **TRADING COMPANIES & DISTRIBUTORS—6.3%** | **TRADING COMPANIES & DISTRIBUTORS—6.3%** |
| 127907 | Applied Industrial Technologies, Inc.  | $33308 |
| 409095 | FTAI Aviation Ltd.  | 111405 |
|  |  | 144713 |
| &nbsp;&nbsp;&nbsp;&nbsp; **TOTAL COMMON STOCKS** <br>(Cost $1,752,463) | &nbsp;&nbsp;&nbsp;&nbsp; **TOTAL COMMON STOCKS** <br>(Cost $1,752,463) | 2216296 |
| &nbsp;&nbsp;&nbsp;&nbsp; **TOTAL INVESTMENTS—96.6%** <br>(Cost $1,752,463) | &nbsp;&nbsp;&nbsp;&nbsp; **TOTAL INVESTMENTS—96.6%** <br>(Cost $1,752,463) | 2216296 |
| **CASH AND OTHER ASSETS, LESS LIABILITIES—3.4%** | **CASH AND OTHER ASSETS, LESS LIABILITIES—3.4%** | 77038 |
| **TOTAL NET ASSETS—100%** | **TOTAL NET ASSETS—100%** | $2293334 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

**FAIR VALUE MEASUREMENTS**

All investments as of January 31, 2026 (as disclosed in the preceding Portfolio of Investments) were classified as Level 1. <br>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

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.

------

⬤

------

**Harbor Small Cap Value Fund**

**PORTFOLIO OF INVESTMENTS—January 31, 2026 (Unaudited)**

------

*Value and Cost in Thousands*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
| **COMMON STOCKS—98.0%** | **COMMON STOCKS—98.0%** | **COMMON STOCKS—98.0%** |
| **Shares** |  | **Value** |
| **AEROSPACE & DEFENSE—7.6%** | **AEROSPACE & DEFENSE—7.6%** | **AEROSPACE & DEFENSE—7.6%** |
| 508772 | AAR Corp. <sup>\*</sup> | $53884 |
| 592170 | Hexcel Corp.  | 49038 |
| 221697 | Moog, Inc. Class A | 67695 |
|  |  | 170617 |
| **BANKS—15.3%** | **BANKS—15.3%** | **BANKS—15.3%** |
| 905228 | Atlantic Union Bankshares Corp.  | 35159 |
| 551938 | Enterprise Financial Services Corp.  | 31654 |
| 844041 | First Merchants Corp.  | 33559 |
| 244328 | Northeast Bank  | 28154 |
| 453452 | Southstate Bank Corp.  | 46402 |
| 967253 | Trustmark Corp.  | 41128 |
| 334432 | UMB Financial Corp.  | 42520 |
| 999941 | United Bankshares, Inc.  | 42327 |
| 1282406 | United Community Banks, Inc.  | 44153 |
|  |  | 345056 |
| **CAPITAL MARKETS—4.6%** | **CAPITAL MARKETS—4.6%** | **CAPITAL MARKETS—4.6%** |
| 365863 | Houlihan Lokey, Inc.  | 61582 |
| 347842 | Stifel Financial Corp.  | 42889 |
|  |  | 104471 |
| **CHEMICALS—3.3%** | **CHEMICALS—3.3%** | **CHEMICALS—3.3%** |
| 435432 | Cabot Corp.  | 31434 |
| 662996 | Scotts Miracle-Gro Co.  | 42578 |
|  |  | 74012 |
| **COMMERCIAL SERVICES & SUPPLIES—1.9%** | **COMMERCIAL SERVICES & SUPPLIES—1.9%** | **COMMERCIAL SERVICES & SUPPLIES—1.9%** |
| 428307 | Casella Waste Systems, Inc. Class A<sup>\*</sup> | 43208 |
| **CONSTRUCTION & ENGINEERING—1.4%** | **CONSTRUCTION & ENGINEERING—1.4%** | **CONSTRUCTION & ENGINEERING—1.4%** |
| 366701 | Everus Construction Group, Inc. <sup>\*</sup> | 32449 |
| **CONSUMER FINANCE—2.4%** | **CONSUMER FINANCE—2.4%** | **CONSUMER FINANCE—2.4%** |
| 320183 | FirstCash Holdings, Inc.  | 54591 |
| **ELECTRICAL EQUIPMENT—2.6%** | **ELECTRICAL EQUIPMENT—2.6%** | **ELECTRICAL EQUIPMENT—2.6%** |
| 322278 | EnerSys  | 58071 |
| **ELECTRONIC EQUIPMENT, INSTRUMENTS & COMPONENTS—10.1%** | **ELECTRONIC EQUIPMENT, INSTRUMENTS & COMPONENTS—10.1%** | **ELECTRONIC EQUIPMENT, INSTRUMENTS & COMPONENTS—10.1%** |
| 256670 | Advanced Energy Industries, Inc.  | 65543 |
| 651261 | Benchmark Electronics, Inc.  | 33957 |
| 655033 | CTS Corp.  | 33675 |
| 184574 | Daktronics, Inc. <sup>\*</sup> | 4273 |
| 124050 | Littelfuse, Inc.  | 40162 |
| 248938 | Plexus Corp. <sup>\*</sup> | 49621 |
|  |  | 227231 |
| **ENERGY EQUIPMENT & SERVICES—6.8%** | **ENERGY EQUIPMENT & SERVICES—6.8%** | **ENERGY EQUIPMENT & SERVICES—6.8%** |
| 856614 | Archrock, Inc.  | 25347 |
| 1158356 | Core Laboratories, Inc.  | 22634 |
| 2416035 | Expro Group Holdings NV <sup>\*</sup> | 38681 |
| 741784 | Helmerich & Payne, Inc.  | 25132 |
| 1420285 | Oceaneering International, Inc. <sup>\*</sup> | 42750 |
|  |  | 154544 |
| **FOOD PRODUCTS—2.1%** | **FOOD PRODUCTS—2.1%** | **FOOD PRODUCTS—2.1%** |
| 1033468 | Darling Ingredients, Inc. <sup>\*</sup> | 47188 |
| **GAS UTILITIES—1.6%** | **GAS UTILITIES—1.6%** | **GAS UTILITIES—1.6%** |
| 440461 | ONE Gas, Inc.  | 35043 |
| **GROUND TRANSPORTATION—1.8%** | **GROUND TRANSPORTATION—1.8%** | **GROUND TRANSPORTATION—1.8%** |
| 217506 | Ryder System, Inc.  | 41605 |
| **HEALTH CARE EQUIPMENT & SUPPLIES—2.2%** | **HEALTH CARE EQUIPMENT & SUPPLIES—2.2%** | **HEALTH CARE EQUIPMENT & SUPPLIES—2.2%** |
| 401905 | CONMED Corp.  | 15429 |

---

---

| | | |
|:---|:---|:---|
| **COMMON STOCKS—Continued** | **COMMON STOCKS—Continued** | **COMMON STOCKS—Continued** |
| **Shares** |  | **Value** |
| **HEALTH CARE EQUIPMENT & SUPPLIES—Continued** | **HEALTH CARE EQUIPMENT & SUPPLIES—Continued** | **HEALTH CARE EQUIPMENT & SUPPLIES—Continued** |
| 381369 | Integer Holdings Corp. <sup>\*</sup> | $33126 |
|  |  | 48555 |
| **HOTEL & RESORT REITS—0.5%** | **HOTEL & RESORT REITS—0.5%** | **HOTEL & RESORT REITS—0.5%** |
| 892655 | Pebblebrook Hotel Trust  | 10194 |
| **HOTELS, RESTAURANTS & LEISURE—2.6%** | **HOTELS, RESTAURANTS & LEISURE—2.6%** | **HOTELS, RESTAURANTS & LEISURE—2.6%** |
| 787883 | Cheesecake Factory, Inc.  | 45666 |
| 9392152 | Sabre Corp. <sup>\*</sup> | 12210 |
|  |  | 57876 |
| **HOUSEHOLD DURABLES—1.4%** | **HOUSEHOLD DURABLES—1.4%** | **HOUSEHOLD DURABLES—1.4%** |
| 467282 | Meritage Homes Corp.  | 32481 |
| **INDUSTRIAL REITS—1.4%** | **INDUSTRIAL REITS—1.4%** | **INDUSTRIAL REITS—1.4%** |
| 855356 | STAG Industrial, Inc.  | 32084 |
| **INSURANCE—2.5%** | **INSURANCE—2.5%** | **INSURANCE—2.5%** |
| 395199 | Horace Mann Educators Corp.  | 17709 |
| 194457 | Reinsurance Group of America, Inc. Class A | 39426 |
|  |  | 57135 |
| **MACHINERY—9.3%** | **MACHINERY—9.3%** | **MACHINERY—9.3%** |
| 333174 | Albany International Corp. Class A | 18488 |
| 937916 | Flowserve Corp.  | 73298 |
| 389332 | Franklin Electric Co., Inc.  | 38785 |
| 244747 | SPX Technologies, Inc. <sup>\*</sup> | 51008 |
| 292104 | Timken Co.  | 27221 |
|  |  | 208800 |
| **OFFICE REITS—0.8%** | **OFFICE REITS—0.8%** | **OFFICE REITS—0.8%** |
| 611029 | COPT Defense Properties  | 18826 |
| **PROFESSIONAL SERVICES—3.1%** | **PROFESSIONAL SERVICES—3.1%** | **PROFESSIONAL SERVICES—3.1%** |
| 648328 | Parsons Corp. <sup>\*</sup> | 45422 |
| 383046 | TriNet Group, Inc.  | 23458 |
|  |  | 68880 |
| **SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT—7.3%** | **SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT—7.3%** | **SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT—7.3%** |
| 1295126 | Amkor Technology, Inc.  | 62593 |
| 382627 | Diodes, Inc. <sup>\*</sup> | 22648 |
| 147519 | Entegris, Inc.  | 17417 |
| 895072 | FormFactor, Inc. <sup>\*</sup> | 63094 |
|  |  | 165752 |
| **SOFTWARE—1.2%** | **SOFTWARE—1.2%** | **SOFTWARE—1.2%** |
| 1100941 | Box, Inc. Class A<sup>\*</sup> | 27909 |
| **SPECIALIZED REITS—1.0%** | **SPECIALIZED REITS—1.0%** | **SPECIALIZED REITS—1.0%** |
| 910676 | Four Corners Property Trust, Inc.  | 22448 |
| **TEXTILES, APPAREL & LUXURY GOODS—1.0%** | **TEXTILES, APPAREL & LUXURY GOODS—1.0%** | **TEXTILES, APPAREL & LUXURY GOODS—1.0%** |
| 1325572 | Wolverine World Wide, Inc.  | 23489 |
| **TRADING COMPANIES & DISTRIBUTORS—2.2%** | **TRADING COMPANIES & DISTRIBUTORS—2.2%** | **TRADING COMPANIES & DISTRIBUTORS—2.2%** |
| 271988 | GATX Corp.  | 49477 |
| &nbsp;&nbsp;&nbsp;&nbsp; **TOTAL COMMON STOCKS** <br>(Cost $1,163,033) | &nbsp;&nbsp;&nbsp;&nbsp; **TOTAL COMMON STOCKS** <br>(Cost $1,163,033) | 2211992 |
| &nbsp;&nbsp;&nbsp;&nbsp; **TOTAL INVESTMENTS—98.0%** <br>(Cost $1,163,033) | &nbsp;&nbsp;&nbsp;&nbsp; **TOTAL INVESTMENTS—98.0%** <br>(Cost $1,163,033) | 2211992 |
| **CASH AND OTHER ASSETS, LESS LIABILITIES—2.0%** | **CASH AND OTHER ASSETS, LESS LIABILITIES—2.0%** | 45343 |
| **TOTAL NET ASSETS—100%** | **TOTAL NET ASSETS—100%** | $2257335 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

------

⬤

------

**Harbor Small Cap Value Fund**

**PORTFOLIO OF INVESTMENTS—Continued**

------

**FAIR VALUE MEASUREMENTS**

All investments as of January 31, 2026 (as disclosed in the preceding Portfolio of Investments) were classified as Level 1. <br>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.

------

⬤

------

**Notes to Portfolios of Investments—January 31, 2026 (Unaudited)**

------

**NOTE 1—ORGANIZATIONAL MATTERS**

Harbor Funds and Harbor Funds II (each a "Trust" and collectively, the "Trusts") are registered under the Investment Company Act of 1940, as amended (the "Investment Company Act"), as open-end management investment companies. As of January 31, 2026, each Trust consists of the following separate portfolios (individually or collectively referred to as a "Fund" or the "Funds," respectively). Harbor Capital Advisors, Inc. (the "Advisor" or "Harbor Capital") is the investment adviser for the Funds.

**Harbor Funds** 

---

| |
|:---|
| Harbor Capital Appreciation Fund |
| Harbor Convertible Securities Fund (currently, Harbor Ares <br> Systematic Convertible Securities Fund)<br>|
| Harbor Core Bond Fund |
| Harbor Core Plus Fund |
| Harbor Diversified International All Cap Fund |
| Harbor International Fund |
| Harbor International Compounders Fund |

---

---

| |
|:---|
| Harbor International Core 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 |

---

**Harbor Funds II** 

Embark Commodity Strategy Fund (Consolidated) <br> Embark Small Cap Equity Fund

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

**NOTE 2—SIGNIFICANT ACCOUNTING POLICIES**

**Security Valuation**

Investments are valued pursuant to valuation procedures approved by the Board of Trustees. The valuation procedures permit the Advisor 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 futures contracts, options, rights and warrants, and centrally cleared swap agreements) 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 London Stock Exchange 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. 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, 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

------

⬤

------

**Notes to Portfolios of Investments—Continued**

------

**NOTE 2—SIGNIFICANT ACCOUNTING POLICIES—Continued** 

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.

Short-term debt 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.

Over-the-counter ("OTC") swap agreements value is generally determined by a pricing vendor using a series of techniques, including simulation pricing models, or by the counterparties to the OTC swap agreements, typically using its own proprietary models. The pricing models may use inputs such as underlying asset prices, indices, exchange rates, interest rates, yield curves, and credit spreads, that are observed from actively quoted markets. OTC swap agreements 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 Advisor 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.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

------

⬤

------

**Notes to Portfolios of Investments—Continued**

------

**NOTE 2—SIGNIFICANT ACCOUNTING POLICIES—Continued** 

**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 financial statements on the Harbor Capital's website at *harborcapital.com* for more information regarding each Fund's significant accounting policies, investments, and related transactions.

------

⬤

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![](img2184298f3.jpg)

![](imgf7e955024.jpg)

------

## Form NPORT-P: Monthly Portfolio Investments Report

### NPORT-P: Part A: General Information

**Item A.1. Information about the Registrant.**

- **a. Name of Registrant:** HARBOR FUNDS

- **b. Investment Company Act file number:** 811-04676

- **c. CIK number of Registrant:** 0000793769

- **d. LEI of Registrant:** 549300YJH4HL5M6WFP75

- **e. Address and telephone number of Registrant.**

  - **Street Address 1:** 111 SOUTH WACKER DRIVE

  - **City:** CHICAGO

  - **State:** IL

  - **Foreign country:** US

  - **Zip / Postal Code:** 60606

  - **Telephone number:** 312-443-4400

**Item A.2. Information about the Series.**

- **a. Name of Series:** Harbor International Small Cap Fund

- **b. EDGAR series identifier (if any):** S000052663

- **c. LEI of Series:** 549300ZKETHS37KZQL14

**Item A.3. Reporting period.**

- **a. Date of fiscal year-end:** 2026-10-31

- **b. Date as of which information is reported:** 2026-01-31

**Item A.4. Final filing**

Does the Fund anticipate that this will be its final filing on Form N-PORT? **No**

### Fund Information

**Total Assets:** $184474524.62

**Total Liabilities:** $427444.14

**Net Assets:** $184047080.48

**Cash Not Reported:** $4057072.03

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000165335 | 1.46%                | 2.23%                | 4.17%                |
| Class ID C000165336 | 1.38%                | 2.25%                | 4.15%                |
| Class ID C000165337 | 1.41%                | 2.23%                | 4.11%                |
| Class ID C000165338 | 1.40%                | 2.26%                | 4.18%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $2039699.12              | $343577.69                                 |
| Month 2  | $756646.08               | $3130523.11                                |
| Month 3  | $1503737.04              | $5799081.12                                |

### Schedule of Portfolio Investments

| Name                                          | Title                                         | Identifiers                                   | Payoff Profile   | Asset Category   | Issuer Category   | Country   |   Balance | Units   | Value (USD)   | % of Net Assets   | Maturity Date   | Coupon Type   | Annualized Rate (%)   | Restricted?   |   Fair Value Level | Lending Status   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| Clarkson PLC                                  | Clarkson PLC                                  | CUSIP: 000000000<br>LEI: 2138007G6BGTEHI3OT22 | Long             | EC               | CORP              | GB        |     61830 | NS      | $3549998.14   | 1.93%             |  |  |  | No            |                  2 | On Loan: No      |
| RS GROUP PLC                                  | RS GROUP PLC                                  | CUSIP: 000000000<br>LEI: 549300KVXDURRKVW7R37 | Long             | EC               | CORP              | GB        |    403302 | NS      | $3703344.74   | 2.01%             |  |  |  | No            |                  2 | On Loan: No      |
| Hays PLC                                      | Hays PLC                                      | CUSIP: 000000000<br>LEI: 213800QC8AWD4BO8TH08 | Long             | EC               | CORP              | GB        |   3634154 | NS      | $2363191.92   | 1.28%             |  |  |  | No            |                  2 | On Loan: No      |
| Morgan Advanced Materials PLC                 | Morgan Advanced Materials PLC                 | CUSIP: 000000000<br>LEI: I4K14LL95N2PHDL7EG85 | Long             | EC               | CORP              | GB        |    960071 | NS      | $3006862.87   | 1.63%             |  |  |  | No            |                  2 | On Loan: No      |
| Victrex PLC                                   | Victrex PLC                                   | CUSIP: 000000000<br>LEI: 213800UYNPHAUNHPXL67 | Long             | EC               | CORP              | GB        |    291950 | NS      | $2623588.66   | 1.43%             |  |  |  | No            |                  2 | On Loan: No      |
| Glanbia PLC                                   | Glanbia PLC                                   | CUSIP: 000000000<br>LEI: 635400SRMCBHVMSKJS84 | Long             | EC               | CORP              | IE        |    180615 | NS      | $3480618.71   | 1.89%             |  |  |  | No            |                  2 | On Loan: No      |
| Huhtamaki Oyj                                 | Huhtamaki Oyj                                 | CUSIP: 000000000<br>LEI: 5493007050SJVMXN6L29 | Long             | EC               | CORP              | FI        |     92896 | NS      | $3260161.43   | 1.77%             |  |  |  | No            |                  2 | On Loan: No      |
| TietoEVRY Oyj                                 | TietoEVRY Oyj                                 | CUSIP: 000000000<br>LEI: 549300EW2KM4KROKQV31 | Long             | EC               | CORP              | FI        |    146224 | NS      | $3174192.95   | 1.72%             |  |  |  | No            |                  2 | On Loan: No      |
| Wienerberger AG                               | Wienerberger AG                               | CUSIP: 000000000<br>LEI: 529900VXIFBHO0SW2I31 | Long             | EC               | CORP              | AT        |     89026 | NS      | $2942711.50   | 1.60%             |  |  |  | No            |                  2 | On Loan: No      |
| TAG Immobilien AG                             | TAG Immobilien AG                             | CUSIP: 000000000<br>LEI: 529900TAE68USJNXLR59 | Long             | EC               | CORP              | DE        |    156918 | NS      | $2662167.28   | 1.45%             |  |  |  | No            |                  2 | On Loan: No      |
| Bekaert SA                                    | Bekaert SA                                    | CUSIP: 000000000<br>LEI: 5493008SR6XZECH6BN71 | Long             | EC               | CORP              | BE        |     61583 | NS      | $3021069.56   | 1.64%             |  |  |  | No            |                  2 | On Loan: No      |
| ASMPT Ltd                                     | ASMPT Ltd                                     | CUSIP: 000000000<br>LEI: 529900PYFA1HFYKPT360 | Long             | EC               | CORP              | KY        |    236700 | NS      | $3156625.70   | 1.72%             |  |  |  | No            |                  2 | On Loan: No      |
| AEON Financial Service Co Ltd                 | AEON Financial Service Co Ltd                 | CUSIP: 000000000<br>LEI: 35380044PRFENBU7WT74 | Long             | EC               | CORP              | JP        |    288900 | NS      | $3153544.52   | 1.71%             |  |  |  | No            |                  2 | On Loan: No      |
| Anritsu Corp                                  | Anritsu Corp                                  | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | JP        |    187309 | NS      | $2595533.45   | 1.41%             |  |  |  | No            |                  2 | On Loan: No      |
| Ariake Japan Co Ltd                           | Ariake Japan Co Ltd                           | CUSIP: 000000000<br>LEI: 353800PBX8D0J0H60M72 | Long             | EC               | CORP              | JP        |     77636 | NS      | $2814452.09   | 1.53%             |  |  |  | No            |                  2 | On Loan: No      |
| Fuji Seal International Inc                   | Fuji Seal International Inc                   | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | JP        |    136311 | NS      | $2819002.49   | 1.53%             |  |  |  | No            |                  2 | On Loan: No      |
| Computer Engineering & Consulting Ltd         | Computer Engineering & Consulting Ltd         | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | JP        |    195906 | NS      | $2793112.03   | 1.52%             |  |  |  | No            |                  2 | On Loan: No      |
| Daiseki Co Ltd                                | Daiseki Co Ltd                                | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | JP        |      8282 | NS      | $186142.58    | 0.10%             |  |  |  | No            |                  2 | On Loan: No      |
| Nakanishi Inc                                 | Nakanishi Inc                                 | CUSIP: 000000000<br>LEI: 353800EXA7IQ42YKF224 | Long             | EC               | CORP              | JP        |    245105 | NS      | $3436619.33   | 1.87%             |  |  |  | No            |                  2 | On Loan: No      |
| San-A Co Ltd                                  | San-A Co Ltd                                  | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | JP        |    171175 | NS      | $3263215.82   | 1.77%             |  |  |  | No            |                  2 | On Loan: No      |
| Ansell Ltd                                    | Ansell Ltd                                    | CUSIP: 000000000<br>LEI: 549300NEGJ5G23VCJM45 | Long             | EC               | CORP              | AU        |    129135 | NS      | $2927769.70   | 1.59%             |  |  |  | No            |                  2 | On Loan: No      |
| Hamamatsu Photonics KK                        | Hamamatsu Photonics KK                        | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | JP        |    231503 | NS      | $2586875.29   | 1.41%             |  |  |  | No            |                  2 | On Loan: No      |
| Kansai Paint Co Ltd                           | Kansai Paint Co Ltd                           | CUSIP: 000000000<br>LEI: 549300ERRV6FTKH9NN70 | Long             | EC               | CORP              | JP        |    192046 | NS      | $3064932.68   | 1.67%             |  |  |  | No            |                  2 | On Loan: No      |
| Nihon Kohden Corp                             | Nihon Kohden Corp                             | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | JP        |    279498 | NS      | $3098616.01   | 1.68%             |  |  |  | No            |                  2 | On Loan: No      |
| Optex Group Co Ltd                            | Optex Group Co Ltd                            | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | JP        |    157803 | NS      | $2450025.35   | 1.33%             |  |  |  | No            |                  2 | On Loan: No      |
| Raito Kogyo Co Ltd                            | Raito Kogyo Co Ltd                            | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | JP        |    135497 | NS      | $3063893.61   | 1.66%             |  |  |  | No            |                  2 | On Loan: No      |
| Sonic Healthcare Ltd                          | Sonic Healthcare Ltd                          | CUSIP: 000000000<br>LEI: 549300NQQ5L2NONWR862 | Long             | EC               | CORP              | AU        |    212365 | NS      | $3396102.11   | 1.85%             |  |  |  | No            |                  2 | On Loan: No      |
| Tosoh Corp                                    | Tosoh Corp                                    | CUSIP: 000000000<br>LEI: 529900YSLFVJF2MDBX02 | Long             | EC               | CORP              | JP        |    181676 | NS      | $2965062.78   | 1.61%             |  |  |  | No            |                  2 | On Loan: No      |
| Venture Corp Ltd                              | Venture Corp Ltd                              | CUSIP: 000000000<br>LEI: 254900B1NLZC3J1MAE72 | Long             | EC               | CORP              | SG        |    245178 | NS      | $3148359.59   | 1.71%             |  |  |  | No            |                  2 | On Loan: No      |
| JCDecaux SE                                   | JCDecaux SE                                   | CUSIP: 000000000<br>LEI: 9695009KV7AFPDEI5S30 | Long             | EC               | CORP              | FR        |    165435 | NS      | $3262999.29   | 1.77%             |  |  |  | No            |                  2 | On Loan: No      |
| Spin Master Corp                              | Spin Master Corp                              | CUSIP: 848510103<br>LEI: 254900ACUT127TXKWO71 | Long             | EC               | CORP              | CA        |    162891 | NS      | $2226270.71   | 1.21%             |  |  |  | No            |                  1 | On Loan: No      |
| Corbion NV                                    | Corbion NV                                    | CUSIP: 000000000<br>LEI: 724500BKS1TSAVLTWG46 | Long             | EC               | CORP              | NL        |    142811 | NS      | $3430217.52   | 1.86%             |  |  |  | No            |                  2 | On Loan: No      |
| Kyushu Financial Group Inc                    | Kyushu Financial Group Inc                    | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | JP        |    415242 | NS      | $3112596.73   | 1.69%             |  |  |  | No            |                  2 | On Loan: No      |
| Rubis SCA                                     | Rubis SCA                                     | CUSIP: 000000000<br>LEI: 969500MGFIKUGLTC9742 | Long             | EC               | CORP              | FR        |     62660 | NS      | $2537295.39   | 1.38%             |  |  |  | No            |                  2 | On Loan: No      |
| NIPPON EXPRESS HOLDINGS INC                   | NIPPON EXPRESS HOLDINGS INC                   | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | JP        |     98490 | NS      | $2237163.25   | 1.22%             |  |  |  | No            |                  2 | On Loan: No      |
| Aryzta AG                                     | Aryzta AG                                     | CUSIP: 000000000<br>LEI: 549300W2PUDQQVRD8W85 | Long             | EC               | CORP              | CH        |     43540 | NS      | $3086312.15   | 1.68%             |  |  |  | No            |                  2 | On Loan: No      |
| C&C Group PLC                                 | C&C Group PLC                                 | CUSIP: 000000000<br>LEI: 635400LNUHA2LDXXV850 | Long             | EC               | CORP              | IE        |   1274823 | NS      | $1906876.56   | 1.04%             |  |  |  | No            |                  2 | On Loan: No      |
| RTL Group SA                                  | RTL Group SA                                  | CUSIP: 000000000<br>LEI: 5493000C8J3C3SZYS040 | Long             | EC               | CORP              | LU        |     53173 | NS      | $2318332.28   | 1.26%             |  |  |  | No            |                  2 | On Loan: No      |
| Aalberts NV                                   | Aalberts NV                                   | CUSIP: 000000000<br>LEI: 549300EMP9DT6Q35HZ31 | Long             | EC               | CORP              | NL        |     84356 | NS      | $3239146.49   | 1.76%             |  |  |  | No            |                  2 | On Loan: No      |
| Fagron                                        | Fagron                                        | CUSIP: 000000000<br>LEI: 549300TRKRUFK2RRG779 | Long             | EC               | CORP              | BE        |    116790 | NS      | $3070331.49   | 1.67%             |  |  |  | No            |                  2 | On Loan: No      |
| Hoshizaki Corp                                | Hoshizaki Corp                                | CUSIP: 000000000<br>LEI: 5299001QAMLGU3SRBG20 | Long             | EC               | CORP              | JP        |     83601 | NS      | $2755913.68   | 1.50%             |  |  |  | No            |                  2 | On Loan: No      |
| Zigup PLC                                     | Zigup PLC                                     | CUSIP: 000000000<br>LEI: 213800B3ZUTDOZYVJB41 | Long             | EC               | CORP              | GB        |    620742 | NS      | $3238151.00   | 1.76%             |  |  |  | No            |                  2 | On Loan: No      |
| Norma Group SE                                | Norma Group SE                                | CUSIP: 000000000<br>LEI: 5299000LM9HC76W5XD46 | Long             | EC               | CORP              | DE        |    157788 | NS      | $2746496.46   | 1.49%             |  |  |  | No            |                  2 | On Loan: No      |
| Coats Group PLC                               | Coats Group PLC                               | CUSIP: 000000000<br>LEI: 2138003SPYWGAITNFY17 | Long             | EC               | CORP              | GB        |   2952710 | NS      | $3436161.12   | 1.87%             |  |  |  | No            |                  2 | On Loan: No      |
| APERAM SA                                     | APERAM SA                                     | CUSIP: 000000000<br>LEI: 5493001136GE6L4R7M63 | Long             | EC               | CORP              | LU        |     79559 | NS      | $3423297.31   | 1.86%             |  |  |  | No            |                  2 | On Loan: No      |
| PALTAC Corp                                   | PALTAC Corp                                   | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | JP        |    104301 | NS      | $3264008.17   | 1.77%             |  |  |  | No            |                  2 | On Loan: No      |
| Inchcape PLC                                  | Inchcape PLC                                  | CUSIP: 000000000<br>LEI: 213800RGEH1MPPNM2T57 | Long             | EC               | CORP              | GB        |    291034 | NS      | $3254462.11   | 1.77%             |  |  |  | No            |                  2 | On Loan: No      |
| SIG Group AG                                  | SIG Group AG                                  | CUSIP: 000000000<br>LEI: 5493004Z6P7TSVB1L042 | Long             | EC               | CORP              | CH        |    245777 | NS      | $3803011.59   | 2.07%             |  |  |  | No            |                  2 | On Loan: No      |
| ASR Nederland NV                              | ASR Nederland NV                              | CUSIP: 000000000<br>LEI: 7245000G0HS48PZWUD53 | Long             | EC               | CORP              | NL        |     31251 | NS      | $2269780.14   | 1.23%             |  |  |  | No            |                  2 | On Loan: No      |
| Arjo AB                                       | Arjo AB                                       | CUSIP: 000000000<br>LEI: 549300OWGJPYKC6JF790 | Long             | EC               | CORP              | SE        |    899016 | NS      | $2695045.39   | 1.46%             |  |  |  | No            |                  2 | On Loan: No      |
| Landis+Gyr Group AG                           | Landis+Gyr Group AG                           | CUSIP: 000000000<br>LEI: 529900PZYVAKCYSLFL19 | Long             | EC               | CORP              | CH        |     45767 | NS      | $3215081.75   | 1.75%             |  |  |  | No            |                  2 | On Loan: No      |
| Cembra Money Bank AG                          | Cembra Money Bank AG                          | CUSIP: 000000000<br>LEI: 549300ZDHOETLAIVTE82 | Long             | EC               | CORP              | CH        |     21740 | NS      | $2779067.10   | 1.51%             |  |  |  | No            |                  2 | On Loan: No      |
| TomTom NV                                     | TomTom NV                                     | CUSIP: 000000000<br>LEI: 724500WAU923OTVC7M86 | Long             | EC               | CORP              | NL        |    382498 | NS      | $2873901.65   | 1.56%             |  |  |  | No            |                  2 | On Loan: No      |
| ISS A/S                                       | ISS A/S                                       | CUSIP: 000000000<br>LEI: 213800LEZA58SZNCBN19 | Long             | EC               | CORP              | DK        |     76743 | NS      | $2910454.43   | 1.58%             |  |  |  | No            |                  2 | On Loan: No      |
| Genuit Group PLC                              | Genuit Group PLC                              | CUSIP: 000000000<br>LEI: 2138005IF1N2RKJ6KO18 | Long             | EC               | CORP              | GB        |    575199 | NS      | $2618854.08   | 1.42%             |  |  |  | No            |                  2 | On Loan: No      |
| TP ICAP Group PLC                             | TP ICAP Group PLC                             | CUSIP: 000000000<br>LEI: 2138006YAA7IRVKKGE63 | Long             | EC               | CORP              | JE        |    936199 | NS      | $3265845.39   | 1.77%             |  |  |  | No            |                  2 | On Loan: No      |
| Ontex Group NV                                | Ontex Group NV                                | CUSIP: 000000000<br>LEI: 549300AQESC6JJOPW253 | Long             | EC               | CORP              | BE        |     82964 | NS      | $482518.28    | 0.26%             |  |  |  | No            |                  2 | On Loan: No      |
| Coface SA                                     | Coface SA                                     | CUSIP: 000000000<br>LEI: 96950025N07LTJYFSN57 | Long             | EC               | CORP              | FR        |    145330 | NS      | $2657961.91   | 1.44%             |  |  |  | No            |                  2 | On Loan: No      |
| Tate & Lyle PLC                               | Tate & Lyle PLC                               | CUSIP: 000000000<br>LEI: 2138008K14474WPKZ244 | Long             | EC               | CORP              | GB        |    588509 | NS      | $3044742.29   | 1.65%             |  |  |  | No            |                  2 | On Loan: No      |
| METAWATER Co Ltd                              | METAWATER Co Ltd                              | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | JP        |    119186 | NS      | $2552823.18   | 1.39%             |  |  |  | No            |                  2 | On Loan: No      |
| Construcciones y Auxiliar de Ferrocarriles SA | Construcciones y Auxiliar de Ferrocarriles SA | CUSIP: 000000000<br>LEI: 95980020140005275134 | Long             | EC               | CORP              | ES        |     40472 | NS      | $2697991.91   | 1.47%             |  |  |  | No            |                  2 | On Loan: No      |
| BOC Aviation Ltd                              | BOC Aviation Ltd                              | CUSIP: 000000000<br>LEI: 254900H06V5RMEB3KE72 | Long             | EC               | CORP              | SG        |    322508 | NS      | $3341068.36   | 1.82%             |  |  |  | No            |                  2 | On Loan: No      |
| SOITEC                                        | SOITEC                                        | CUSIP: 000000000<br>LEI: 969500ZR92SQCU9TST26 | Long             | EC               | CORP              | FR        |     36479 | NS      | $1136047.53   | 0.62%             |  |  |  | No            |                  2 | On Loan: No      |

### Signature

**Date Signed:** 2026-02-25

**Name of Applicant:** HARBOR FUNDS

**Signature:** Ryan Elve

**Name of Signer:** Ryan Elve

**Title:** Vice President, Harbor Funds