Horizon Funds NPORT-P Horizon ESG Defensive Core Fund (Feb 2022 report)

Horizon ESG Defensive Core Fund
PORTFOLIO OF INVESTMENTS (Unaudited)
February 28, 2022
Shares		��	Value
		COMMON STOCKS - 98.1%
		Administrative and Support and Waste Management and Remediation Services - 1.1%
	41,799	Terminix Global Holdings, Inc. (a)	$	1,778,965
		Aerospace/Defense - 1.0%
	47,845	Howmet Aerospace, Inc.		1,718,592
		Apparel - 2.5%
	25,904	Nike, Inc., Class B		3,537,191
	6,693	PVH Corp.		655,178
				4,192,369
		Auto Manufacturers - 0.4%
	38,042	Ford Motor Co.		668,018
		Banks - 3.9%
	66,813	Bank of America Corp.		2,953,135
	6,373	Goldman Sachs Group, Inc.		2,175,041
	9,258	JPMorgan Chase & Co.		1,312,784
				6,440,960
		Beverages - 2.9%
	20,410	Molson Coors Brewing Co., Class B		1,064,994
	22,657	PepsiCo, Inc.		3,709,857
				4,774,851
		Biotechnology - 4.5%
	12,906	Amgen, Inc.		2,922,951
	7,069	Biogen, Inc. (a)		1,491,630
	2,213	Regeneron Pharmaceuticals, Inc. (a)		1,368,431
	7,225	Vertex Pharmaceuticals, Inc. (a)		1,661,894
				7,444,906
		Chemicals - 2.1%
	11,938	DuPont de Nemours, Inc.		923,643
	7,306	International Flavors & Fragrances, Inc.		971,698
	5,347	Linde PLC		1,567,954
				3,463,295
		Commercial Services - 1.4%
	1,811	MarketAxess Holdings, Inc.		690,770
	3,233	PayPal Holdings, Inc. (a)		361,869
	7,032	Verisk Analytics, Inc.		1,247,055
				2,299,694
		Computers - 9.1%
	91,065	Apple, Inc.		15,036,653
		Diversified Financial Services - 2.4%
	13,471	American Express Co.		2,620,648
	35,439	Invesco, Ltd.		752,724
	1,659	MasterCard, Inc., Class A		598,601
				3,971,973
		Environmental Control - 1.9%
	26,095	Republic Services, Inc.		3,138,707
		Finance and Insurance - 0.3%
	5,089	Tradeweb Markets, Inc., Class A		429,919
		Food - 0.7%
	10,966	Campbell Soup Co.		493,141
	10,496	Kellogg Co.		671,114
				1,164,255
		Healthcare Products - 1.0%
	15,582	Medtronic PLC		1,635,954
		Healthcare Services - 2.7%
	2,294	Anthem, Inc.		1,036,544
	18,508	Centene Corp. (a)		1,529,131
	7,396	HCA Healthcare, Inc.		1,851,293
				4,416,968
		Information - 0.4%
	4,713	Zoom Video Communications, Inc., Class A (a)		624,944
		Insurance - 2.5%
	26,869	Allstate Corp.		3,287,691
	12,834	Hartford Financial Services Group, Inc.		891,706
				4,179,397
		Internet - 8.7%
	4,034	Alphabet, Inc., Class A (a)		10,896,399
	564	Amazon.com, Inc. (a)		1,732,190
	331	Booking Holdings, Inc. (a)		719,015
	5,009	Meta Platforms, Inc., Class A (a)		1,057,049
				14,404,653
		Lodging - 1.5%
	16,596	Hilton Worldwide Holdings, Inc. (a)		2,470,481
		Machinery - Diversified - 0.7%
	3,399	Deere & Co.		1,223,708
		Manufacturing - 5.8%
	7,945	BioMarin Pharmaceutical, Inc. (a)		620,663
	10,967	Enphase Energy, Inc. (a)		1,828,199
	20,200	General Electric Co.		1,929,302
	22,478	Keurig Dr Pepper, Inc.		869,224
	8,999	Lear Corp.		1,415,903
	9,094	Owens Corning		847,470
	1,925	Tesla, Inc. (a)		1,675,578
	33,982	Vertiv Holdings Co.		442,445
				9,628,784
		Media - 1.8%
	20,345	Walt Disney Co. (a)		3,020,419
		Mining - 0.5%
	13,566	Newmont Goldcorp Corp.		898,069
		Oil & Gas - 3.2%
	6,871	Chevron Corp.		989,424
	41,658	Exxon Mobil Corp.		3,266,821
	11,524	Valero Energy Corp.		962,369
				5,218,614
		Pharmaceuticals - 4.6%
	30,874	Bristol-Myers Squibb Co.		2,120,118
	15,353	Cigna Corp.		3,650,636
	12,656	Merck & Co., Inc.		969,197
	81,238	Viatris, Inc.		894,430
				7,634,381
		Professional, Scientific, and Technical Services - 0.7%
	34,004	Adaptive Biotechnologies Corp. (a)		490,678
	4,983	VMware, Inc., Class A		584,605
				1,075,283
		Real Estate Investment Trusts - 2.9%
	2,089	Alexandria Real Estate Equities, Inc.		395,657
	12,850	Digital Realty Trust, Inc.		1,733,722
	38,407	Iron Mountain, Inc.		1,888,856
	29,104	VICI Properties, Inc.		813,748
				4,831,983
		Retail - 1.8%
	11,465	Kohl's Corp.		637,683
	7,345	Lowe's Cos., Inc.		1,623,686
	8,427	Starbucks Corp.		773,514
				3,034,883
		Retail Trade - 2.5%
	64,000	Albertsons Cos, Inc., Class A		1,865,600
	4,355	Five Below, Inc. (a)		712,521
	25,722	KKR & Co, Inc.		1,546,407
				4,124,528
		Semiconductors - 3.0%
	39,369	Intel Corp.		1,877,901
	9,841	Micron Technology, Inc.		874,471
	5,311	NVIDIA Corp.		1,295,087
	4,862	QUALCOMM, Inc.		836,216
				4,883,675
		Software - 12.9%
	5,614	Citrix Systems, Inc.		575,435
	46,997	Microsoft Corp.		14,042,234
	1,742	MSCI, Inc.		873,944
	25,627	Oracle Corp.		1,946,883
	10,544	salesforce.com, Inc. (a)		2,219,828
	2,445	Synopsys, Inc. (a)		763,794
	5,085	Take-Two Interactive Software, Inc. (a)		823,770
				21,245,888
		Telecommunications - 1.5%
	19,890	AT&T, Inc.		471,194
	34,795	Cisco Systems, Inc.		1,940,517
				2,411,711
		Textiles - 0.4%
	4,700	Mohawk Industries, Inc. (a)		661,666
		Transportation - 2.1%
	2,479	Union Pacific Corp.		609,710
	13,852	United Parcel Service, Inc., Class B		2,914,738
				3,524,448
		Transportation and Warehousing - 0.6%
	27,898	Uber Technologies, Inc. (a)		1,005,165
		Utilities - 0.5%
	28,597	MDU Resources Group, Inc.		765,542
		Water - 1.6%
	17,956	American Water Works Co., Inc.		2,712,972
		TOTAL COMMON STOCKS (Cost - $158,247,025)		162,157,273
		SHORT TERM INVESTMENTS - 1.3%
		Money Market Funds - 1.3%
	2,086,352	First American Treasury Obligations Fund, Class X, 0.01% (b)		2,086,352
		TOTAL SHORT TERM INVESTMENTS (Cost - $2,086,352)		2,086,352
		TOTAL INVESTMENTS - 99.4% (Cost - $160,333,377)		164,243,625
		Other Assets in Excess of Liabilities - 0.6%		931,542
		NET ASSETS - 100.0%	$	165,175,167
Percentages are stated as a percent of net assets.
(a) Non-income producing security.
(b) Interest rate reflects seven-day yield on February 28, 2022.