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SECURITIES AND EXCHANGE COMMISSION FORM 497 Definitive materials filed under paragraph (a), (b), (c), (d), (e) or (f) of Securities Act Rule 497 Filing Date: 2017-08-01 SEC Accession No. 0001193125-17-243587 (HTML Version on secdatabase.com) FILER HARBOR FUNDS Mailing Address Business Address 111 SOUTH WACKER DRIVE 111 SOUTH WACKER DRIVE CIK:793769| IRS No.: 000000000 | State of Incorp.:DE | Fiscal Year End: 1031 34TH FLOOR 34TH FLOOR Type: 497 | Act: 33 | File No.: 033-05852 | Film No.: 17995525 CHICAGO IL 60606 CHICAGO IL 60606 312-443-4400 Copyright © 2017 www.secdatabase.com. All Rights Reserved. Please Consider the Environment Before Printing This Document Table of Contents 111 South Wacker Drive, 34th Floor Chicago, IL 60606-4302 harborfunds.com STATEMENT OF ADDITIONAL INFORMATION – August 1, 2017 Harbor Funds (“Harbor” or the “Trust”) is an open-end management investment company (or mutual fund) registered under the Investment Company Act of 1940, as amended (the “Investment Company Act”), and includes the following series (individually or collectively referred to as a “Fund” or the “Funds”); the Funds may also be referred to collectively within the asset classes listed below: Harbor Diversified International MONEY MARKET FUNDS DOMESTIC EQUITY FUNDS All Cap Fund HAIDX Institutional Harbor Capital Appreciation Fund Harbor Money Market Fund Class HARXX Institutional HACAX Institutional HRIDX Administrative Class Class Class HRMXX Administrative HRCAX Administrative HIIDX Investor Class Class Class HNIDX Retirement Class HCAIX Investor Class TARGET RETIREMENT FUNDS Harbor International Growth Fund HNACX Retirement Class HAIGX Institutional Harbor Mid Cap Growth Fund Harbor Target Retirement Income Fund Class HARAX Institutional HAMGX Institutional HRIGX Administrative Class Class Class HARBX Administrative HRMGX Administrative HIIGX Investor Class Class Class HNGFX Retirement Class HIMGX Investor Class HARCX Investor Class Harbor International Small Cap Fund HNMGX Retirement Class Harbor Target Retirement 2015 Fund HAISX Institutional Harbor Small Cap Growth Fund HARGX Institutional Class Class HASGX Institutional HRISX Administrative Class HARHX Administrative Class Class HRSGX Administrative HIISX Investor Class Class HARIX Investor Class HNISX Retirement Class HISGX Investor Class Harbor Target Retirement 2020 Fund Harbor Global Leaders Fund HNSGX Retirement Class HARJX Institutional HGGAX Institutional Class Harbor Small Cap Growth Class Opportunities Fund HARKX Administrative HRGAX Administrative Class HASOX Institutional Class Class HARLX Investor Class HGGIX Investor Class HRSOX Administrative Harbor Target Retirement 2025 Fund HNGIX Retirement Class Class HARMX Institutional Harbor Emerging Markets Equity Fund HISOX Investor Class Class HAEMX Institutional HNSOX Retirement Class HARNX Administrative Class Harbor Large Cap Value Fund Class HREMX Administrative HAROX Investor Class HAVLX Institutional Class Class Harbor Target Retirement 2030 Fund HIEEX Investor Class HRLVX Administrative HARPX Institutional HNEMX Retirement Class Class Class HILVX Investor Class STRATEGIC MARKETS FUNDS HARQX Administrative HNLVX Retirement Class Class Harbor Mid Cap Value Fund Harbor Commodity Real Return HARTX Investor Class Strategy Fund HAMVX Institutional Harbor Target Retirement 2035 Fund Class HACMX Institutional HARUX Institutional Class HRMVX Administrative Class Class HCMRX Administrative HARVX Administrative Class HIMVX Investor Class Class HNMVX Retirement Class FIXED INCOME FUNDS HARWX Investor Class Harbor Small Cap Value Fund Harbor Target Retirement 2040 Fund Harbor Convertible Securities Fund HASCX Institutional HARYX Institutional Class HACSX Institutional Class Class HSVRX Administrative HARZX Administrative Class HRCSX Administrative Class Class HISVX Investor Class HABBX Investor Class Copyright © 2017 www.secdatabase.com. All Rights Reserved. Please Consider the Environment Before Printing This Document HICSX Investor Class HNVRX Retirement Class Harbor Target Retirement 2045 Fund HNCVX Retirement Class Harbor Small Cap Value Opportunities Fund HACCX Institutional Harbor High-Yield Bond Fund HSOVX Institutional Class HYFAX Institutional Class HADDX Administrative Class HSAVX Administrative Class HYFRX Administrative Class HAEEX Investor Class Class HSIVX Investor Class Harbor Target Retirement 2050 Fund HYFIX Investor Class HSRVX Retirement Class HAFFX Institutional HNHYX Retirement Class Class INTERNATIONAL & GLOBAL FUNDS Harbor Bond Fund HAGGX Administrative HABDX Institutional Class Harbor International Fund Class HAHHX Investor Class HAINX Institutional HRBDX Administrative Harbor Target Retirement 2055 Fund Class Class HATRX Institutional HRINX Administrative Harbor Real Return Fund Class Class HARRX Institutional HATAX Administrative HIINX Investor Class Class Class HNINX Retirement Class HRRRX Administrative HATTX Investor Class Class Additional funds may be created by the Funds’ Board of Trustees (the “Board of Trustees” or the “Trustees”) from time to time. With the exception of the Target Retirement Funds, the assets of each Fund are managed by one or more subadvisers (each, a “Subadviser”) under the supervision of Harbor Capital Advisors, Inc., the Funds’ investment adviser (the “Adviser”). The Target Retirement Funds are managed directly by the Adviser. This Statement of Additional Information is not a prospectus, but provides additional information that should be read in conjunction with the Prospectus of the respective Harbor Funds dated March 1, 2017, as amended or supplemented from time to time, for all Funds except Harbor Small Cap Value Opportunities Fund which is dated August 1, 2017. Additional information about each Fund’s investments is available at harborfunds.com or in the respective Fund’s Annual and Semi-Annual reports to shareholders. Investors can obtain free copies of the Annual Reports, which contain the Funds’ Copyright © 2017 www.secdatabase.com. All Rights Reserved. Please Consider the Environment Before Printing This Document audited financial statements, the Semi-Annual Reports, the Prospectuses and the Statement of Additional Information, request other information and discuss their questions about the Funds by calling 800-422-1050, by writing to Harbor Funds at 111 South Wacker Drive, 34th Floor, Chicago, IL 60606-4302 or by visiting our website at harborfunds.com. The financial statements of the Funds (except for Harbor Small Cap Value Opportunities Fund) as of and for the periods ended October 31, 2016, have been audited by Ernst & Young LLP, an independent registered public accounting firm, and are incorporated by reference in this Statement of Additional Information. No audited financial statements exist for Harbor Small Cap Value Opportunities Fund, which commenced operations on August 1, 2017. Copyright © 2017 www.secdatabase.com. All Rights Reserved. Please Consider the Environment Before Printing This Document TABLE OF CONTENTS ADDITIONAL POLICIES AND INVESTMENT TECHNIQUES 1 INVESTMENT POLICIES 3 Common Stocks 3 Preferred Stocks 3 Warrants and Rights 3 Convertible Securities 3 Partnership Securities 4 Trust-Preferred Securities 4 Restricted and Illiquid Securities 5 Fixed Income Securities 6 Below Investment-Grade Fixed Income Securities 6 Duration 7 Derivative Instruments 8 Risks Associated with Specific Types of Derivative Debt Securities 9 Loan Originations, Participations and Assignments 9 Variable and Floating Rate Securities 11 U.S. Government Securities 11 Municipal Bonds 12 Cash Equivalents 13 Mortgage-Backed Securities 13 Risk Factors Associated with Mortgage-Backed Securities 15 Asset-Backed Securities 16 Collateralized Debt Obligations 16 Mortgage “Dollar Roll” Transactions 17 Small to Mid Companies 17 Foreign Securities 17 Brady Bonds 20 Inflation-Indexed Bonds 20 Event-Linked Exposure 21 Sovereign Debt Obligations 21 Borrowing 22 Reverse Repurchase Agreements 22 Lending of Portfolio Securities 22 Short Sales 23 Delayed Funding and Revolving Credit Facilities 23 Forward Commitments and When-Issued Securities 24 Repurchase Agreements 24 Options and Futures Transactions 25 Options on Securities, Securities Indices and Currency 25 Futures Contracts and Options on Futures Contracts 26 Risks Associated with Options Transactions 29 Risks Associated with Commodity Futures Contracts 29 Hybrid Instruments 30 Structured Products 31 Foreign Currency Transactions 32 Investments in Other Investment Companies 34 Swaps, Caps, Floors and Collars 34 Credit Default Swaps 36 Investments in Wholly-Owned Subsidiary 36 Regulatory Risk 37 Liquidation of Funds 37 Operational Risks 37 INVESTMENT RESTRICTIONS 38 Fundamental Investment Restrictions 38 Non-Fundamental Investment Restrictions 39 Copyright © 2017 www.secdatabase.com. All Rights Reserved. Please Consider the Environment Before Printing This Document TRUSTEES AND OFFICERS 41 THE ADVISER AND SUBADVISERS 49 THE PORTFOLIO MANAGERS 54 THE DISTRIBUTOR 79 SHAREHOLDER SERVICES 82 CODE OF ETHICS 83 PORTFOLIO HOLDINGS 84 PROXY VOTING 87 PORTFOLIO TRANSACTIONS 91 NET ASSET VALUE 94 TAX INFORMATION 97 ORGANIZATION AND CAPITALIZATION 104 CUSTODIAN 113 INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM AND FINANCIAL STATEMENTS 114 DESCRIPTION OF SECURITIES RATINGS 115 DESCRIPTION OF COMMERCIAL PAPER RATINGS 118 Copyright © 2017 www.secdatabase.com. All Rights Reserved. Please Consider the Environment Before Printing This Document Table of Contents ADDITIONAL POLICIES AND INVESTMENT TECHNIQUES Each Fund is a diversified management
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