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
Expires:	Oct 31, 2018
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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
AMGEN INC COM	COM	031162100	582	3,631	SH		SOLE	NONE	0	0	3,631
APOLLO INVT CORP COM	COM	03761U106	99	17,457	SH		SOLE	NONE	0	0	17,457
BANK N S HALIFAX COM	COM	064149107	569	10,361	SH		SOLE	NONE	0	0	10,361
BHP BILLITON LTD SPONSORED ADR	COM	088606108	515	14,643	SH		SOLE	NONE	0	0	14,643
CISCO SYS INC COM	COM	17275R102	743	22,204	SH		SOLE	NONE	0	0	22,204
CLOROX CO DEL COM	COM	189054109	642	4,858	SH		SOLE	NONE	0	0	4,858
COCA COLA CO COM	COM	191216100	401	9,189	SH		SOLE	NONE	0	0	9,189
DBX ETF TR XTRACK USD HIGH	COM	233051432	8,883	173,742	SH		SOLE	NONE	14,149	0	159,593
DELTA AIR LINES INC DEL COM NE	COM	247361702	603	12,305	SH		SOLE	NONE	0	0	12,305
FIRST TR LRG CP VL ALPHADEX CO	COM	33735J101	6,010	122,477	SH		SOLE	NONE	0	0	122,477
FIRST TR LRG CP GRWTH ALPHAD C	COM	33735K108	5,623	105,083	SH		SOLE	NONE	0	0	105,083
FIRST TR EXCH TRADED FD III HO	COM	33739P871	206	6,445	SH		SOLE	NONE	0	0	6,445
FIRST TR EXCH TRADED FD III HO	COM	33739P889	440	20,597	SH		SOLE	NONE	0	0	20,597
GLAXOSMITHKLINE PLC SPONSORED	COM	37733W105	786	18,179	SH		SOLE	NONE	0	0	18,179
HSBC HLDGS PLC SPON ADR NEW	COM	404280406	994	22,385	SH		SOLE	NONE	0	0	22,385
HONEYWELL INTL INC COM	COM	438516106	403	3,067	SH		SOLE	NONE	0	0	3,067
HORIZON TECHNOLOGY FIN CORP CO	COM	44045A102	123	10,732	SH		SOLE	NONE	0	0	10,732
INTERNATIONAL BUSINESS MACHS C	COM	459200101	1,026	6,673	SH		SOLE	NONE	0	0	6,673
ISHARES TR CORE SP500 ETF	COM	464287200	2,793	11,612	SH		SOLE	NONE	0	0	11,612
ISHARES TR CORE US AGGBD ET	COM	464287226	8,373	76,876	SH		SOLE	NONE	0	0	76,876
ISHARES TR MSCI EMG MKT ETF	COM	464287234	219	5,313	SH		SOLE	NONE	0	0	5,313
ISHARES TR IBOXX INV CP ETF	COM	464287242	10,540	88,549	SH		SOLE	NONE	7,168	0	81,381
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	9,465	89,133	SH		SOLE	NONE	7,226	0	81,907
ISHARES TR 1 3 YR TREAS BD	COM	464287457	5,798	68,588	SH		SOLE	NONE	0	0	68,588
ISHARES TR RUS MID CAP ETF	COM	464287499	4,888	25,948	SH		SOLE	NONE	0	0	25,948
ISHARES TR CORE SP MCP ETF	COM	464287507	1,305	7,611	SH		SOLE	NONE	0	0	7,611
ISHARES TR RUSSELL 2000 ETF	COM	464287655	432	3,138	SH		SOLE	NONE	0	0	3,138
ISHARES TR JPMORGAN USD EMG	COM	464288281	9,992	86,907	SH		SOLE	NONE	7,066	0	79,841
ISHARES TR NATIONAL MUN ETF	COM	464288414	827	7,549	SH		SOLE	NONE	0	0	7,549
ISHARES TR IBOXX HI YD ETF	COM	464288513	4,277	48,617	SH		SOLE	NONE	0	0	48,617
ISHARES TR 1 3 YR CR BD ETF	COM	464288646	1,913	18,172	SH		SOLE	NONE	0	0	18,172
ISHARES TR 3 7 YR TREAS BD	COM	464288661	4,381	35,472	SH		SOLE	NONE	2,918	0	32,554
ISHARES TR SHORT TREAS BD	COM	464288679	398	3,609	SH		SOLE	NONE	0	0	3,609
ISHARES TR SP US PFD STK	COM	464288687	2,869	73,779	SH		SOLE	NONE	0	0	73,779
ISHARES TR US AER DEF ETF	COM	464288760	10,870	71,102	SH		SOLE	NONE	5,053	0	66,049
ISHARES INC CORE MSCI EMKT	COM	46434G103	23,363	467,726	SH		SOLE	NONE	33,326	0	434,400
ISHARES TR EXPONENTIAL TECH	COM	46434V381	4,621	148,245	SH		SOLE	NONE	0	0	148,245
JOHNSON JOHNSON COM	COM	478160104	741	5,996	SH		SOLE	NONE	0	0	5,996
KIMBERLY CLARK CORP COM	COM	494368103	1,140	8,904	SH		SOLE	NONE	0	0	8,904
LOWES COS INC COM	COM	548661107	1,147	13,518	SH		SOLE	NONE	0	0	13,518
MEDLEY CAP CORP COM	COM	58503F106	80	15,253	SH		SOLE	NONE	0	0	15,253
MERCK CO INC COM	COM	58933Y105	952	14,982	SH		SOLE	NONE	0	0	14,982
NOVARTIS A G SPONSORED ADR	COM	66987V109	792	9,842	SH		SOLE	NONE	0	0	9,842
PEPSICO INC COM	COM	713448108	644	5,705	SH		SOLE	NONE	0	0	5,705
POWERSHARES ETF TRUST FINL PFD	COM	73935X229	5,193	273,038	SH		SOLE	NONE	21,507	0	251,531
POWERSHARES ETF TRUST DYNM LRG	COM	73935X609	5,553	157,949	SH		SOLE	NONE	0	0	157,949
POWERSHARES ETF TR II SP600 LO	COM	73937B639	4,192	97,879	SH		SOLE	NONE	0	0	97,879
POWERSHARES ETF TR II PWRSHS S	COM	73937B654	7,353	185,631	SH		SOLE	NONE	0	0	185,631
PROCTER AND GAMBLE CO COM	COM	742718109	569	6,596	SH		SOLE	NONE	0	0	6,596
SPDR INDEX SHS FDS EURO STOXX	COM	78463X202	24,534	627,463	SH		SOLE	NONE	45,134	0	582,329
SPDR INDEX SHS FDS MSCI ACWI E	COM	78463X848	14,356	403,607	SH		SOLE	NONE	0	0	403,607
SPDR SERIES TRUST PORTFOLIO MD	COM	78464A847	13,028	387,628	SH		SOLE	NONE	27,662	0	359,966
SSGA ACTIVE ETF TR SPDR TR TAC	COM	78467V848	8,237	167,830	SH		SOLE	NONE	13,613	0	154,217
SANOFI SPONSORED ADR	COM	80105N105	1,113	22,164	SH		SOLE	NONE	0	0	22,164
THL CR INC COM	COM	872438106	105	11,620	SH		SOLE	NONE	0	0	11,620
TOTAL S A SPONSORED ADR	COM	89151E109	1,014	18,798	SH		SOLE	NONE	0	0	18,798
VANGUARD BD INDEX FD INC TOTAL	COM	921937835	397	4,875	SH		SOLE	NONE	0	0	4,875
VANGUARD WHITEHALL FDS INC HIG	COM	921946406	11,784	152,884	SH		SOLE	NONE	10,874	0	142,010
VANGUARD SCOTTSDALE FDS INT-TE	COM	92206C870	6,195	71,153	SH		SOLE	NONE	5,835	0	65,318
VANGUARD INDEX FDS GROWTH ETF	COM	922908736	56,563	449,558	SH		SOLE	NONE	32,036	0	417,522
VANGUARD INDEX FDS VALUE ETF	COM	922908744	68,001	716,029	SH		SOLE	NONE	50,941	0	665,088
VANGUARD INDEX FDS SMALL CP ET	COM	922908751	7,382	55,439	SH		SOLE	NONE	6,309	0	49,130
WAL-MART STORES INC COM	COM	931142103	771	10,187	SH		SOLE	NONE	0	0	10,187
WELLS FARGO CO NEW COM	COM	949746101	595	11,219	SH		SOLE	NONE	0	0	11,219
WISDOMTREE TR JAPN HEDGE EQT	COM	97717W851	16,321	312,969	SH		SOLE	NONE	22,452	0	290,517
XCEL ENERGY INC COM	COM	98389B100	575	12,606	SH		SOLE	NONE	0	0	12,606
AFLAC INC COM	COM	001055102	1,384	18,847	SH		DFND	1	0	0	18,847
AIR PRODS CHEMS INC COM	COM	009158106	1,363	8,309	SH		DFND	1	0	0	8,309
ALEXANDRIA REAL ESTATE EQ IN C	COM	015271109	1,664	12,744	SH		DFND	1	0	0	12,744
ALLIANT ENERGY CORP COM	COM	018802108	420	10,602	SH		DFND	1	0	0	10,602
AMEREN CORP COM	COM	023608102	585	10,646	SH		DFND	1	0	0	10,646
AMERICAN ELEC PWR INC COM	COM	025537101	782	11,483	SH		DFND	1	0	0	11,483
AMERICAN EXPRESS CO COM	COM	025816109	1,371	17,698	SH		DFND	1	0	0	17,698
AMERICAN INTL GROUP INC COM NE	COM	026874784	1,031	16,911	SH		DFND	1	0	0	16,911
AMERICAN WTR WKS CO INC NEW CO	COM	030420103	215	2,819	SH		DFND	1	0	0	2,819
AMETEK INC NEW COM	COM	031100100	1,096	18,435	SH		DFND	1	0	0	18,435
AMPHENOL CORP NEW CL A	COM	032095101	1,888	25,912	SH		DFND	1	0	0	25,912
APARTMENT INVT MGMT CO CL A	COM	03748R101	1,246	28,505	SH		DFND	1	0	0	28,505
AVALONBAY CMNTYS INC COM	COM	053484101	1,440	8,069	SH		DFND	1	0	0	8,069
BAXTER INTL INC COM	COM	071813109	1,021	18,162	SH		DFND	1	0	0	18,162
BAY BANCORP INC COM	COM	07203T106	272	22,217	SH		DFND	1	0	0	22,217
BERKSHIRE HATHAWAY INC DEL CL	COM	084670702	2,013	10,153	SH		DFND	1	0	0	10,153
CBOE GLOBAL MARKETS INC COM	COM	12503M108	1,025	8,227	SH		DFND	1	0	0	8,227
CMS ENERGY CORP COM	COM	125896100	713	15,665	SH		DFND	1	0	0	15,665
CENTERPOINT ENERGY INC COM	COM	15189T107	382	13,458	SH		DFND	1	0	0	13,458
CHEVRON CORP NEW COM	COM	166764100	1,063	10,033	SH		DFND	1	0	0	10,033
COCA COLA CO COM	COM	191216100	2,076	47,628	SH		DFND	1	0	0	47,628
COGNIZANT TECHNOLOGY SOLUTIO C	COM	192446102	1,610	22,671	SH		DFND	1	0	0	22,671
CONSOLIDATED EDISON INC COM	COM	209115104	519	6,500	SH		DFND	1	0	0	6,500
CONSTELLATION BRANDS INC CL A	COM	21036P108	1,242	5,446	SH		DFND	1	0	0	5,446
DBX ETF TR XTRACK MSCI EAFE	COM	233051200	11,129	360,988	SH		DFND	1	0	0	360,988
DTE ENERGY CO COM	COM	233331107	784	7,437	SH		DFND	1	0	0	7,437
DANAHER CORP DEL COM	COM	235851102	1,280	15,457	SH		DFND	1	0	0	15,457
DOMINION ENERGY INC COM	COM	25746U109	612	7,858	SH		DFND	1	0	0	7,858
DUKE ENERGY CORP NEW COM NEW	COM	26441C204	966	11,567	SH		DFND	1	0	0	11,567
ECOLAB INC COM	COM	278865100	1,882	14,027	SH		DFND	1	0	0	14,027
ENTERGY CORP NEW COM	COM	29364G103	397	5,239	SH		DFND	1	0	0	5,239
EQUITY RESIDENTIAL SH BEN INT	COM	29476L107	1,525	23,498	SH		DFND	1	0	0	23,498
EVERSOURCE ENERGY COM	COM	30040W108	736	12,289	SH		DFND	1	0	0	12,289
EXELON CORP COM	COM	30161N101	378	9,581	SH		DFND	1	0	0	9,581
EXXON MOBIL CORP COM	COM	30231G102	2,494	30,213	SH		DFND	1	0	0	30,213
FIDELITY NATL INFORMATION SV C	COM	31620M106	1,916	23,051	SH		DFND	1	0	0	23,051
FIRST TR EXCHANGE TRADED FD CH	COM	33733A102	310	9,040	SH		DFND	1	0	0	9,040
FIRST TR EXCHANGE TRADED FD DJ	COM	33733E302	599	6,373	SH		DFND	1	0	0	6,373
FIRST TR BICK INDEX FD COM SHS	COM	33733H107	286	11,180	SH		DFND	1	0	0	11,180
FIRST TR NASDAQ100 TECH INDE S	COM	337345102	579	9,205	SH		DFND	1	0	0	9,205
FIRST TR EXCHANGE TRADED FD IN	COM	33734X150	604	17,460	SH		DFND	1	0	0	17,460
FIRST TR EXCHANGE TRADED FD TE	COM	33734X176	549	12,560	SH		DFND	1	0	0	12,560
FIRST TR EXCH TRD ALPHA FD I D	COM	33737J174	304	5,587	SH		DFND	1	0	0	5,587
FIRST TR EXCH TRD ALPHA FD I G	COM	33737J190	306	7,211	SH		DFND	1	0	0	7,211
FIRST TR EXCH TRD ALPHA FD I S	COM	33737J232	328	6,766	SH		DFND	1	0	0	6,766
FIRST TR EXCHANGE TRADED FD NA	COM	33738R860	633	24,702	SH		DFND	1	0	0	24,702
FISERV INC COM	COM	337738108	1,789	14,934	SH		DFND	1	0	0	14,934
FORTIVE CORP COM	COM	34959J108	1,116	15,421	SH		DFND	1	0	0	15,421
GALLAGHER ARTHUR J CO COM	COM	363576109	1,821	28,778	SH		DFND	1	0	0	28,778
HARRIS CORP DEL COM	COM	413875105	1,724	12,171	SH		DFND	1	0	0	12,171
HONEYWELL INTL INC COM	COM	438516106	1,581	12,020	SH		DFND	1	0	0	12,020
ISHARES TR CORE US AGGBD ET	COM	464287226	6,949	63,802	SH		DFND	1	0	0	63,802
ISHARES TR IBOXX INV CP ETF	COM	464287242	3,389	28,473	SH		DFND	1	0	0	28,473
ISHARES TR RUS 1000 GRW ETF	COM	464287614	7,804	66,505	SH		DFND	1	0	0	66,505
ISHARES TR EAFE SML CP ETF	COM	464288273	4,412	76,993	SH		DFND	1	0	0	76,993
ISHARES TR IBOXX HI YD ETF	COM	464288513	2,674	30,392	SH		DFND	1	0	0	30,392
ISHARES TR USA QUALITY FCTR	COM	46432F339	4,748	64,849	SH		DFND	1	0	0	64,849
JOHNSON JOHNSON COM	COM	478160104	1,166	9,432	SH		DFND	1	0	0	9,432
LILLY ELI CO COM	COM	532457108	1,084	13,519	SH		DFND	1	0	0	13,519
LOCKHEED MARTIN CORP COM	COM	539830109	1,463	5,395	SH		DFND	1	0	0	5,395
LOEWS CORP COM	COM	540424108	1,577	34,457	SH		DFND	1	0	0	34,457
MARSH MCLENNAN COS INC COM	COM	571748102	1,001	13,648	SH		DFND	1	0	0	13,648
MID AMER APT CMNTYS INC COM	COM	59522J103	1,233	12,539	SH		DFND	1	0	0	12,539
MOODYS CORP COM	COM	615369105	1,147	7,770	SH		DFND	1	0	0	7,770
NASDAQ INC COM	COM	631103108	1,150	17,024	SH		DFND	1	0	0	17,024
NEXTERA ENERGY INC COM	COM	65339F101	498	3,674	SH		DFND	1	0	0	3,674
NISOURCE INC COM	COM	65473P105	237	9,750	SH		DFND	1	0	0	9,750
NORTHROP GRUMMAN CORP COM	COM	666807102	937	3,788	SH		DFND	1	0	0	3,788
PPL CORP COM	COM	69351T106	657	16,954	SH		DFND	1	0	0	16,954
PEPSICO INC COM	COM	713448108	1,904	16,864	SH		DFND	1	0	0	16,864
PFIZER INC COM	COM	717081103	1,403	42,494	SH		DFND	1	0	0	42,494
PHILIP MORRIS INTL INC COM	COM	718172109	1,470	13,157	SH		DFND	1	0	0	13,157
PINNACLE WEST CAP CORP COM	COM	723484101	677	7,988	SH		DFND	1	0	0	7,988
PROCTER AND GAMBLE CO COM	COM	742718109	2,180	25,294	SH		DFND	1	0	0	25,294
PUBLIC SVC ENTERPRISE GROUP CO	COM	744573106	250	5,854	SH		DFND	1	0	0	5,854
RAYTHEON CO COM NEW	COM	755111507	999	5,342	SH		DFND	1	0	0	5,342
REALTY INCOME CORP COM	COM	756109104	1,106	19,472	SH		DFND	1	0	0	19,472
REPUBLIC SVCS INC COM	COM	760759100	1,588	25,335	SH		DFND	1	0	0	25,335
ROPER TECHNOLOGIES INC COM	COM	776696106	997	4,502	SH		DFND	1	0	0	4,502
SPDR SP 500 ETF TR TR UNIT	COM	78462F103	14,792	61,897	SH		DFND	1	0	0	61,897
SSGA ACTIVE ETF TR SPDR TR TAC	COM	78467V848	3,418	69,634	SH		DFND	1	0	0	69,634
SEMPRA ENERGY COM	COM	816851109	590	5,282	SH		DFND	1	0	0	5,282
SOUTHERN CO COM	COM	842587107	522	10,477	SH		DFND	1	0	0	10,477
TORCHMARK CORP COM	COM	891027104	1,476	19,619	SH		DFND	1	0	0	19,619
UDR INC COM	COM	902653104	1,414	37,023	SH		DFND	1	0	0	37,023
US BANCORP DEL COM NEW	COM	902973304	1,060	20,610	SH		DFND	1	0	0	20,610
VANGUARD BD INDEX FD INC TOTAL	COM	921937835	7,597	93,384	SH		DFND	1	0	0	93,384
VANGUARD INTL EQUITY INDEX F A	COM	922042775	6,387	128,141	SH		DFND	1	0	0	128,141
VANGUARD INTL EQUITY INDEX F F	COM	922042858	11,802	288,336	SH		DFND	1	0	0	288,336
VENTAS INC COM	COM	92276F100	1,236	18,818	SH		DFND	1	0	0	18,818
VANGUARD INDEX FDS MID CAP ETF	COM	922908629	14,858	105,817	SH		DFND	1	0	0	105,817
VANGUARD INDEX FDS VALUE ETF	COM	922908744	16,505	173,789	SH		DFND	1	0	0	173,789
VANGUARD INDEX FDS SMALL CP ET	COM	922908751	5,335	40,063	SH		DFND	1	0	0	40,063
VERISIGN INC COM	COM	92343E102	1,589	17,827	SH		DFND	1	0	0	17,827
WEC ENERGY GROUP INC COM	COM	92939U106	540	8,208	SH		DFND	1	0	0	8,208
WASTE MGMT INC DEL COM	COM	94106L109	1,282	17,815	SH		DFND	1	0	0	17,815
WELLTOWER INC COM	COM	95040Q104	1,273	17,723	SH		DFND	1	0	0	17,723
XCEL ENERGY INC COM	COM	98389B100	686	15,049	SH		DFND	1	0	0	15,049
SPDR Retail	COM	78464A714	22,590	500,000	SH	Call	SOLE	NONE	0	0	500,000