Horizon Investments 13F-HR Quarterly holdings report by institutional manager

The Securities and Exchange Commission has not necessarily reviewed the information in this filing and has not determined if it is accurate and complete.
The reader should not assume that the information is accurate and complete.

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 13F

FORM 13F INFORMATION TABLE

OMB APPROVAL

OMB Number:		3235-0006
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COLUMN 1	COLUMN 2	COLUMN 3	COLUMN 4	COLUMN 5			COLUMN 6	COLUMN 7	COLUMN 8
			VALUE	SHRS OR	SH/	PUT/	INVESTMENT	OTHER	VOTING AUTHORITY
NAME OF ISSUER	TITLE OF CLASS	CUSIP	(x$1000)	PRN AMT	PRN	CALL	DISCRETION	MANAGER	SOLE	SHARED	NONE
AFLAC INC COM	COM	001055102	699	9,515	SH		SOLE	NONE	177	0	9,338
APOLLO INVT CORP COM	COM	03761U106	114	18,715	SH		SOLE	NONE	0	0	18,715
BANK N S HALIFAX COM	COM	064149107	1,034	18,832	SH		SOLE	NONE	8,603	0	10,229
CDN IMPERIAL BK COMM TORONTO C	COM	136069101	524	5,982	SH		SOLE	NONE	5,982	0	0
CAPITAL ONE FINL CORP COM	COM	14040H105	1,552	19,541	SH		SOLE	NONE	9,292	0	10,249
CHESAPEAKE ENERGY CORP COM	COM	165167107	104	18,523	SH		SOLE	NONE	18,311	0	212
CISCO SYS INC COM	COM	17275R102	1,562	46,697	SH		SOLE	NONE	24,775	0	21,922
COCA COLA CO COM	COM	191216100	2,157	49,490	SH		SOLE	NONE	27,039	0	22,451
CONOCOPHILLIPS COM	COM	20825C104	495	10,535	SH		SOLE	NONE	10,535	0	0
CREDIT SUISSE GROUP SPONSORED	COM	225401108	717	48,819	SH		SOLE	NONE	48,819	0	0
DBX ETF TR DEUTSCHE USD ETF	COM	233051432	23,887	467,188	SH		SOLE	NONE	371,844	0	95,344
DBX ETF TR DB XTR MSCI EUR	COM	233051853	73,027	2,569,579	SH		SOLE	NONE	2,005,733	0	563,846
DDR CORP COM	COM	23317H102	672	71,076	SH		SOLE	NONE	71,076	0	0
FIRST TR EXCH TRADED FD III HO	COM	33739P871	496	15,534	SH		SOLE	NONE	0	0	15,534
FIRST TR EXCH TRADED FD III HO	COM	33739P889	1,231	57,646	SH		SOLE	NONE	0	0	57,646
GENERAL MTRS CO COM	COM	37045V100	508	15,106	SH		SOLE	NONE	14,125	0	981
GLOBAL X FDS GLB X SUPERDIV	COM	37950E549	18,744	889,177	SH		SOLE	NONE	889,177	0	0
GLOBAL X FDS SCIEN BETA US	COM	37954Y103	7,458	266,630	SH		SOLE	NONE	266,630	0	0
HSBC HLDGS PLC SPON ADR NEW	COM	404280406	1,457	32,803	SH		SOLE	NONE	10,784	0	22,019
HANESBRANDS INC COM	COM	410345102	522	24,351	SH		SOLE	NONE	24,351	0	0
HONDA MOTOR LTD AMERN SHS	COM	438128308	722	25,681	SH		SOLE	NONE	25,681	0	0
HONEYWELL INTL INC COM	COM	438516106	873	6,640	SH		SOLE	NONE	3,601	0	3,039
HORIZON TECHNOLOGY FIN CORP CO	COM	44045A102	132	11,512	SH		SOLE	NONE	0	0	11,512
INTEL CORP COM	COM	458140100	1,529	43,027	SH		SOLE	NONE	20,410	0	22,617
INTERNATIONAL BUSINESS MACHS C	COM	459200101	1,987	12,932	SH		SOLE	NONE	6,461	0	6,471
ISHARES TR CORE SP500 ETF	COM	464287200	2,832	11,770	SH		SOLE	NONE	0	0	11,770
ISHARES TR CORE US AGGBD ET	COM	464287226	7,682	70,527	SH		SOLE	NONE	0	0	70,527
ISHARES TR MSCI EMG MKT ETF	COM	464287234	226	5,489	SH		SOLE	NONE	0	0	5,489
ISHARES TR IBOXX INV CP ETF	COM	464287242	31,242	262,469	SH		SOLE	NONE	208,585	0	53,884
ISHARES TR SP 500 VAL ETF	COM	464287408	371	3,580	SH		SOLE	NONE	0	0	3,580
ISHARES TR BARCLAYS 7 10 YR	COM	464287440	38,893	366,257	SH		SOLE	NONE	292,444	0	73,813
ISHARES TR 1 3 YR TREAS BD	COM	464287457	5,327	63,017	SH		SOLE	NONE	0	0	63,017
ISHARES TR RUS MID CAP ETF	COM	464287499	4,699	24,949	SH		SOLE	NONE	0	0	24,949
ISHARES TR CORE SP MCP ETF	COM	464287507	1,317	7,683	SH		SOLE	NONE	0	0	7,683
ISHARES TR RUSSELL 2000 ETF	COM	464287655	436	3,173	SH		SOLE	NONE	0	0	3,173
ISHARES TR JPMORGAN USD EMG	COM	464288281	26,215	228,017	SH		SOLE	NONE	181,349	0	46,668
ISHARES TR NATIONAL MUN ETF	COM	464288414	821	7,500	SH		SOLE	NONE	0	0	7,500
ISHARES TR IBOXX HI YD ETF	COM	464288513	3,885	44,161	SH		SOLE	NONE	0	0	44,161
ISHARES TR 1 3 YR CR BD ETF	COM	464288646	1,771	16,825	SH		SOLE	NONE	0	0	16,825
ISHARES TR 3 7 YR TREAS BD	COM	464288661	18,180	147,194	SH		SOLE	NONE	118,429	0	28,765
ISHARES TR SHORT TREAS BD	COM	464288679	603	5,470	SH		SOLE	NONE	0	0	5,470
ISHARES TR SP US PFD STK	COM	464288687	2,586	66,498	SH		SOLE	NONE	0	0	66,498
ISHARES TR US AER DEF ETF	COM	464288760	45,249	295,978	SH		SOLE	NONE	230,982	0	64,996
ISHARES TR USA QUALITY FCTR	COM	46432F339	4,084	55,785	SH		SOLE	NONE	0	0	55,785
ISHARES TR CORE MSCI EAFE	COM	46432F842	98,658	1,622,931	SH		SOLE	NONE	1,261,544	0	361,387
ISHARES INC CORE MSCI EMKT	COM	46434G103	143,072	2,864,298	SH		SOLE	NONE	2,222,296	0	642,002
ISHARES TR EXPONENTIAL TECH	COM	46434V381	23,809	763,849	SH		SOLE	NONE	608,721	0	155,128
JOHNSON JOHNSON COM	COM	478160104	1,173	9,486	SH		SOLE	NONE	3,601	0	5,885
KIMBERLY CLARK CORP COM	COM	494368103	1,828	14,286	SH		SOLE	NONE	5,792	0	8,494
KOHLS CORP COM	COM	500255104	1,633	44,760	SH		SOLE	NONE	25,123	0	19,637
LOWES COS INC COM	COM	548661107	1,973	23,259	SH		SOLE	NONE	9,970	0	13,289
MEDLEY CAP CORP COM	COM	58503F106	98	16,332	SH		SOLE	NONE	0	0	16,332
MERCK CO INC COM	COM	58933Y105	1,278	20,107	SH		SOLE	NONE	7,903	0	12,204
NOVARTIS A G SPONSORED ADR	COM	66987V109	1,241	15,418	SH		SOLE	NONE	5,753	0	9,665
NOVO-NORDISK A S ADR	COM	670100205	1,157	28,499	SH		SOLE	NONE	17,466	0	11,033
PARK HOTELS RESORTS INC COM	COM	700517105	685	27,488	SH		SOLE	NONE	27,488	0	0
PFIZER INC COM	COM	717081103	490	14,835	SH		SOLE	NONE	14,835	0	0
POTASH CORP SASK INC COM	COM	73755L107	678	41,573	SH		SOLE	NONE	41,573	0	0
POWERSHARES ETF TRUST FINL PFD	COM	73935X229	21,624	1,136,933	SH		SOLE	NONE	890,518	0	246,415
POWERSHARES ETF TRUST DYNM LRG	COM	73935X609	6,046	171,969	SH		SOLE	NONE	0	0	171,969
POWERSHARES ETF TR II SP600 LO	COM	73937B639	4,042	94,363	SH		SOLE	NONE	0	0	94,363
POWERSHARES ETF TR II PWRSHS S	COM	73937B654	16,229	409,718	SH		SOLE	NONE	0	0	409,718
PROCTER AND GAMBLE CO COM	COM	742718109	1,240	14,385	SH		SOLE	NONE	7,945	0	6,440
ROYAL DUTCH SHELL PLC SPONS AD	COM	780259206	652	13,405	SH		SOLE	NONE	13,405	0	0
SPDR INDEX SHS FDS EURO STOXX	COM	78463X202	99,373	2,541,504	SH		SOLE	NONE	1,976,773	0	564,731
SPDR INDEX SHS FDS MSCI ACWI E	COM	78463X848	12,206	343,143	SH		SOLE	NONE	0	0	343,143
SSGA ACTIVE ETF TR SPDR TR TAC	COM	78467V848	76,209	1,552,753	SH		SOLE	NONE	1,233,072	0	319,681
SANOFI SPONSORED ADR	COM	80105N105	1,478	29,444	SH		SOLE	NONE	9,574	0	19,870
THL CR INC COM	COM	872438106	116	12,460	SH		SOLE	NONE	0	0	12,460
TELEFONICA BRASIL SA SPONSORED	COM	87936R106	743	48,159	SH		SOLE	NONE	48,159	0	0
TERADATA CORP DEL COM	COM	88076W103	218	7,560	SH		SOLE	NONE	7,560	0	0
TOTAL S A SPONSORED ADR	COM	89151E109	1,498	27,754	SH		SOLE	NONE	9,323	0	18,431
VANGUARD BD INDEX FD INC TOTAL	COM	921937835	598	7,351	SH		SOLE	NONE	0	0	7,351
VANGUARD WHITEHALL FDS INC HIG	COM	921946406	50,316	652,781	SH		SOLE	NONE	453,802	0	198,979
VANGUARD INTL EQUITY INDEX F F	COM	922042866	48,616	755,381	SH		SOLE	NONE	588,112	0	167,269
VANGUARD SCOTTSDALE FDS INT-TE	COM	92206C870	26,217	301,106	SH		SOLE	NONE	239,278	0	61,828
VANGUARD INDEX FDS GROWTH ETF	COM	922908736	208,672	1,658,500	SH		SOLE	NONE	1,278,738	0	379,762
VANGUARD INDEX FDS VALUE ETF	COM	922908744	123,516	1,300,578	SH		SOLE	NONE	977,597	0	322,981
VANGUARD INDEX FDS SMALL CP ET	COM	922908751	25,087	188,399	SH		SOLE	NONE	142,023	0	46,376
WAL-MART STORES INC COM	COM	931142103	1,582	20,891	SH		SOLE	NONE	10,784	0	10,107
WESTERN UN CO COM	COM	959802109	847	43,916	SH		SOLE	NONE	43,916	0	0
TRANSOCEAN LTD REG SHS	COM	H8817H100	148	13,965	SH		SOLE	NONE	13,965	0	0
AETNA INC NEW COM	COM	00817Y108	597	4,179	SH		DFND	1	0	0	4,179
BAY BANCORP INC COM	COM	07203T106	252	22,217	SH		DFND	1	0	0	22,217
CBOE HLDGS INC COM	COM	12503M108	769	7,146	SH		DFND	1	0	0	7,146
CMS ENERGY CORP COM	COM	125896100	617	13,540	SH		DFND	1	0	0	13,540
CENTERPOINT ENERGY INC COM	COM	15189T107	348	11,900	SH		DFND	1	0	0	11,900
CHURCH DWIGHT INC COM	COM	171340102	1,670	33,261	SH		DFND	1	0	0	33,261
CLOROX CO DEL COM	COM	189054109	1,407	10,649	SH		DFND	1	0	0	10,649
COCA COLA CO COM	COM	191216100	2,296	52,663	SH		DFND	1	0	0	52,663
CONSOLIDATED EDISON INC COM	COM	209115104	456	5,708	SH		DFND	1	0	0	5,708
DBX ETF TR XTRAK MSCI EAFE	COM	233051200	11,995	389,077	SH		DFND	1	0	0	389,077
DTE ENERGY CO COM	COM	233331107	671	6,362	SH		DFND	1	0	0	6,362
DANAHER CORP DEL COM	COM	235851102	696	8,397	SH		DFND	1	0	0	8,397
DOMINION ENERGY INC COM	COM	25746U109	533	6,837	SH		DFND	1	0	0	6,837
DUKE ENERGY CORP NEW COM NEW	COM	26441C204	845	10,128	SH		DFND	1	0	0	10,128
ECOLAB INC COM	COM	278865100	1,297	10,084	SH		DFND	1	0	0	10,084
EDISON INTL COM	COM	281020107	526	6,679	SH		DFND	1	0	0	6,679
ENTERGY CORP NEW COM	COM	29364G103	347	4,586	SH		DFND	1	0	0	4,586
EQUITY RESIDENTIAL SH BEN INT	COM	29476L107	726	11,186	SH		DFND	1	0	0	11,186
EVERSOURCE ENERGY COM	COM	30040W108	644	10,758	SH		DFND	1	0	0	10,758
EXXON MOBIL CORP COM	COM	30231G102	1,091	13,220	SH		DFND	1	0	0	13,220
FIDELITY NATL INFORMATION SV C	COM	31620M106	2,184	26,274	SH		DFND	1	0	0	26,274
FIRST TR EXCHANGE TRADED FD CH	COM	33733A102	331	9,646	SH		DFND	1	0	0	9,646
FIRST TR EXCHANGE TRADED FD DJ	COM	33733E302	639	6,797	SH		DFND	1	0	0	6,797
FIRST TR BICK INDEX FD COM SHS	COM	33733H107	300	11,725	SH		DFND	1	0	0	11,725
FIRST TR NASDAQ100 TECH INDE S	COM	337345102	620	9,866	SH		DFND	1	0	0	9,866
FIRST TR EXCHANGE TRADED FD IN	COM	33734X150	630	18,205	SH		DFND	1	0	0	18,205
FIRST TR EXCHANGE TRADED FD UT	COM	33734X184	616	22,797	SH		DFND	1	0	0	22,797
FIRST TR EXCH TRD ALPHA FD I D	COM	33737J174	316	5,819	SH		DFND	1	0	0	5,819
FIRST TR EXCH TRD ALPHA FD I G	COM	33737J190	353	8,317	SH		DFND	1	0	0	8,317
FIRST TR EXCH TRD ALPHA FD I S	COM	33737J232	347	7,166	SH		DFND	1	0	0	7,166
FIRST TR EXCHANGE TRADED FD NA	COM	33738R860	661	25,797	SH		DFND	1	0	0	25,797
FISERV INC COM	COM	337738108	1,639	13,687	SH		DFND	1	0	0	13,687
GALLAGHER ARTHUR J CO COM	COM	363576109	838	13,611	SH		DFND	1	0	0	13,611
HARTFORD FINL SVCS GROUP INC C	COM	416515104	764	15,574	SH		DFND	1	0	0	15,574
HERSHEY CO COM	COM	427866108	1,252	11,692	SH		DFND	1	0	0	11,692
HONEYWELL INTL INC COM	COM	438516106	1,878	14,284	SH		DFND	1	0	0	14,284
INTERNATIONAL BUSINESS MACHS C	COM	459200101	1,196	7,784	SH		DFND	1	0	0	7,784
ISHARES TR CORE US AGGBD ET	COM	464287226	5,979	54,893	SH		DFND	1	0	0	54,893
ISHARES TR IBOXX INV CP ETF	COM	464287242	2,916	24,499	SH		DFND	1	0	0	24,499
ISHARES TR RUS 1000 GRW ETF	COM	464287614	7,435	63,359	SH		DFND	1	0	0	63,359
ISHARES TR IBOXX HI YD ETF	COM	464288513	2,291	26,044	SH		DFND	1	0	0	26,044
ISHARES TR USA QUALITY FCTR	COM	46432F339	4,477	61,154	SH		DFND	1	0	0	61,154
JOHNSON JOHNSON COM	COM	478160104	1,045	8,454	SH		DFND	1	0	0	8,454
KIMBERLY CLARK CORP COM	COM	494368103	1,287	10,052	SH		DFND	1	0	0	10,052
KRAFT HEINZ CO COM	COM	500754106	1,240	15,993	SH		DFND	1	0	0	15,993
LOCKHEED MARTIN CORP COM	COM	539830109	1,029	3,793	SH		DFND	1	0	0	3,793
LOEWS CORP COM	COM	540424108	998	21,810	SH		DFND	1	0	0	21,810
MARSH MCLENNAN COS INC COM	COM	571748102	884	12,041	SH		DFND	1	0	0	12,041
MASTERCARD INCORPORATED CL A	COM	57636Q104	909	7,761	SH		DFND	1	0	0	7,761
MCDONALDS CORP COM	COM	580135101	985	6,773	SH		DFND	1	0	0	6,773
MERCK CO INC COM	COM	58933Y105	989	15,556	SH		DFND	1	0	0	15,556
NASDAQ INC COM	COM	631103108	960	14,210	SH		DFND	1	0	0	14,210
NEXTERA ENERGY INC COM	COM	65339F101	436	3,219	SH		DFND	1	0	0	3,219
NISOURCE INC COM	COM	65473P105	200	8,220	SH		DFND	1	0	0	8,220
NORTHROP GRUMMAN CORP COM	COM	666807102	1,217	4,918	SH		DFND	1	0	0	4,918
PGE CORP COM	COM	69331C108	312	4,701	SH		DFND	1	0	0	4,701
PPL CORP COM	COM	69351T106	1,023	26,399	SH		DFND	1	0	0	26,399
PEPSICO INC COM	COM	713448108	2,421	21,446	SH		DFND	1	0	0	21,446
PFIZER INC COM	COM	717081103	1,802	54,586	SH		DFND	1	0	0	54,586
PINNACLE WEST CAP CORP COM	COM	723484101	584	6,889	SH		DFND	1	0	0	6,889
PROCTER AND GAMBLE CO COM	COM	742718109	2,254	26,147	SH		DFND	1	0	0	26,147
PUBLIC SVC ENTERPRISE GROUP CO	COM	744573106	224	5,228	SH		DFND	1	0	0	5,228
QUEST DIAGNOSTICS INC COM	COM	74834L100	618	5,803	SH		DFND	1	0	0	5,803
RAYTHEON CO COM NEW	COM	755111507	892	4,800	SH		DFND	1	0	0	4,800
REPUBLIC SVCS INC COM	COM	760759100	2,299	36,679	SH		DFND	1	0	0	36,679
ROPER TECHNOLOGIES INC COM	COM	776696106	622	2,810	SH		DFND	1	0	0	2,810
SPDR SP 500 ETF TR TR UNIT	COM	78462F103	14,150	59,209	SH		DFND	1	0	0	59,209
SSGA ACTIVE ETF TR SPDR TR TAC	COM	78467V848	2,928	59,658	SH		DFND	1	0	0	59,658
SEMPRA ENERGY COM	COM	816851109	517	4,631	SH		DFND	1	0	0	4,631
SOUTHERN CO COM	COM	842587107	471	9,435	SH		DFND	1	0	0	9,435
3M CO COM	COM	88579Y101	1,278	6,500	SH		DFND	1	0	0	6,500
TORCHMARK CORP COM	COM	891027104	911	12,108	SH		DFND	1	0	0	12,108
UNITEDHEALTH GROUP INC COM	COM	91324P102	777	4,523	SH		DFND	1	0	0	4,523
VANGUARD BD INDEX FD INC TOTAL	COM	921937835	6,283	77,229	SH		DFND	1	0	0	77,229
VANGUARD INTL EQUITY INDEX F A	COM	922042775	8,552	171,591	SH		DFND	1	0	0	171,591
VANGUARD INTL EQUITY INDEX F F	COM	922042858	11,106	271,335	SH		DFND	1	0	0	271,335
VANGUARD INDEX FDS MID CAP ETF	COM	922908629	13,952	99,364	SH		DFND	1	0	0	99,364
VANGUARD INDEX FDS VALUE ETF	COM	922908744	15,643	164,714	SH		DFND	1	0	0	164,714
VANGUARD INDEX FDS SMALL CP ET	COM	922908751	4,981	37,405	SH		DFND	1	0	0	37,405
VISA INC COM CL A	COM	92826C839	1,669	17,996	SH		DFND	1	0	0	17,996
WEC ENERGY GROUP INC COM	COM	92939U106	456	7,327	SH		DFND	1	0	0	7,327
WASTE MGMT INC DEL COM	COM	94106L109	2,159	30,003	SH		DFND	1	0	0	30,003
XCEL ENERGY INC COM	COM	98389B100	598	13,120	SH		DFND	1	0	0	13,120
YUM BRANDS INC COM	COM	988498101	861	12,501	SH		DFND	1	0	0	12,501
AON PLC SHS CL A	COM	G0408V102	1,359	10,941	SH		DFND	1	0	0	10,941
MEDTRONIC PLC SHS	COM	G5960L103	915	10,967	SH		DFND	1	0	0	10,967
SPDR S&P 500 ETF TRUST	COM	78462F103	15,074	60,000	SH	Call	SOLE	NONE	0	0	60,000
SPDR S&P 500 ETF TRUST	COM	78462F103	10,049	40,000	SH	Call	SOLE	NONE	0	0	40,000
SPDR S&P 500 ETF TRUST	COM	78462F103	16,330	65,000	SH	Call	SOLE	NONE	0	0	65,000
iShares Russell 2000	COM	464287655	48,159	325,000	SH	Call	SOLE	NONE	0	0	325,000
SPDR INDEX SHS FDS EURO STOXX	COM	78463X202	30,938	750,000	SH	Put	SOLE	NONE	0	0	750,000
ISHARES TR MSCI EMG MKT ETF	COM	78462F103	33,608	750,000	SH	Put	SOLE	NONE	0	0	750,000
SPDR S&P 500 ETF TRUST	COM	78462F103	62,808	250,000	SH	Put	SOLE	NONE	0	0	250,000