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

Horizon ESG Defensive Core Fund
PORTFOLIO OF INVESTMENTS (Unaudited)
August 31, 2022
Shares			Value
		INVESTMENT COMPANIES - 20.2%
		Exchange Traded Funds - 20.2%
	376,721	SPDR Bloomberg 1-3 Month T-Bill ETF	$	34,488,808
		TOTAL INVESTMENT COMPANIES (Cost - $34,464,962)		34,488,808
		COMMON STOCKS - 77.4%
		Administrative and Support and Waste Management and Remediation Services - 0.9%
	37,412	Terminix Global Holdings, Inc. (a)		1,595,622
		Aerospace/Defense - 0.9%
	42,821	Howmet Aerospace, Inc.		1,517,148
		Apparel - 1.7%
	23,185	Nike, Inc., Class B		2,468,043
	5,987	PVH Corp.		336,769
				2,804,812
		Auto Manufacturers - 0.3%
	34,047	Ford Motor Co.		518,876
		Banks - 2.9%
	59,794	Bank of America Corp.		2,009,676
	5,704	Goldman Sachs Group, Inc.		1,897,550
	8,281	JPMorgan Chase & Co.		941,798
				4,849,024
		Beverages - 2.6%
	18,268	Molson Coors Brewing Co., Class B		943,907
	20,281	PepsiCo, Inc.		3,493,808
				4,437,715
		Biotechnology - 4.1%
	11,553	Amgen, Inc.		2,776,186
	6,326	Biogen, Inc. (a)		1,235,974
	1,981	Regeneron Pharmaceuticals, Inc. (a)		1,151,080
	6,469	Vertex Pharmaceuticals, Inc. (a)		1,822,705
				6,985,945
		Chemicals - 1.1%
	21,132	DuPont de Nemours, Inc.		1,175,785
	6,538	International Flavors & Fragrances, Inc.		722,318
				1,898,103
		Commercial Services - 0.9%
	3,338	PayPal Holdings, Inc. (a)		311,903
	6,297	Verisk Analytics, Inc.		1,178,546
				1,490,449
		Computers - 6.6%
	71,822	Apple, Inc.		11,291,855
		Diversified Financial Services - 2.1%
	12,059	American Express Co.		1,832,968
	2,667	Ameriprise Financial, Inc.		714,783
	31,723	Invesco, Ltd.		522,478
	1,485	MasterCard, Inc., Class A		481,689
				3,551,918
		Electric - 0.4%
	4,093	Sempra Energy		675,222
		Environmental Control - 2.0%
	23,355	Republic Services, Inc.		3,333,226
		Finance and Insurance - 0.5%
	12,356	Tradeweb Markets, Inc., Class A		859,854
		Food - 0.4%
	9,397	Kellogg Co.		683,538
		Healthcare Services - 2.2%
	2,055	Anthem, Inc.		996,901
	16,568	Centene Corp. (a)		1,486,812
	6,623	HCA Healthcare, Inc.		1,310,493
				3,794,206
		Information - 0.2%
	4,307	Warner Bros Discovery, Inc. (a)		57,025
	4,219	Zoom Video Communications, Inc., Class A (a)		339,207
				396,232
		Insurance - 2.1%
	24,049	Allstate Corp.		2,897,905
	11,488	Hartford Financial Services Group, Inc.		738,793
				3,636,698
		Internet - 6.0%
	72,265	Alphabet, Inc., Class A (a)		7,820,518
	12,535	Amazon.com, Inc. (a)		1,589,062
	4,483	Meta Platforms, Inc., Class A (a)		730,415
				10,139,995
		Lodging - 1.1%
	14,854	Hilton Worldwide Holdings, Inc.		1,891,805
		Machinery - Diversified - 0.6%
	3,041	Deere & Co.		1,110,725
		Manufacturing - 4.9%
	7,111	BioMarin Pharmaceutical, Inc. (a)		634,301
	5,058	Enphase Energy, Inc. (a)		1,448,813
	18,081	General Electric Co.		1,327,869
	20,118	Keurig Dr Pepper, Inc.		766,898
	8,054	Lear Corp.		1,116,607
	8,141	Owens Corning		665,364
	7,175	Tesla, Inc. (a)		1,977,502
	30,415	Vertiv Holdings Co.		350,685
				8,288,039
		Media - 1.2%
	18,208	Walt Disney Co. (a)		2,040,753
		Mining - 0.3%
	12,139	Newmont Goldcorp Corp.		502,069
		Oil & Gas - 2.9%
	6,151	Chevron Corp.		972,227
	37,282	Exxon Mobil Corp.		3,563,786
	3,214	Valero Energy Corp.		376,424
				4,912,437
		Pharmaceuticals - 4.5%
	6,598	AmerisourceBergen Corp.		967,003
	27,633	Bristol-Myers Squibb Co.		1,862,740
	13,740	Cigna Corp.		3,894,603
	11,328	Merck & Co., Inc.		966,958
				7,691,304
		Professional, Scientific, and Technical Services - 0.2%
	30,435	Adaptive Biotechnologies Corp. (a)		271,480
		Real Estate Investment Trusts - 2.6%
	1,871	Alexandria Real Estate Equities, Inc.		287,012
	11,499	Digital Realty Trust, Inc.		1,421,621
	34,375	Iron Mountain, Inc.		1,808,469
	26,050	VICI Properties, Inc.		859,389
				4,376,491
		Retail - 1.5%
	6,573	Lowe's Cos., Inc.		1,276,082
	7,541	Starbucks Corp.		633,972
	11,285	TJX Cos., Inc.		703,620
				2,613,674
		Retail Trade - 1.9%
	57,282	Albertsons Cos, Inc., Class A		1,575,828
	3,898	Five Below, Inc. (a)		498,476
	23,023	KKR & Co, Inc.		1,164,043
				3,238,347
		Semiconductors - 2.2%
	10,734	Advanced Micro Devices, Inc. (a)		910,994
	35,237	Intel Corp.		1,124,765
	8,809	Micron Technology, Inc.		497,973
	4,756	NVIDIA Corp.		717,871
	4,351	QUALCOMM, Inc.		575,507
				3,827,110
		Software - 9.5%
	8,026	Fidelity National Information Services, Inc.		733,336
	42,062	Microsoft Corp.		10,997,951
	1,559	MSCI, Inc.		700,365
	22,937	Oracle Corp.		1,700,779
	9,437	salesforce.com, Inc. (a)		1,473,304
	4,552	Take-Two Interactive Software, Inc. (a)		557,893
				16,163,628
		Telecommunications - 1.0%
	17,802	AT&T, Inc.		312,247
	31,141	Cisco Systems, Inc.		1,392,626
				1,704,873
		Textiles - 0.6%
	9,769	Mohawk Industries, Inc. (a)		1,078,107
		Transportation - 1.4%
	12,397	United Parcel Service, Inc., Class B		2,411,340
		Transportation and Warehousing - 0.4%
	24,968	Uber Technologies, Inc. (a)		718,080
		Utilities - 1.3%
	9,007	Cheniere Energy, Inc.		1,442,741
	25,593	MDU Resources Group, Inc.		771,629
				2,214,370
		Water - 1.4%
	16,070	American Water Works Co., Inc.		2,385,592
		TOTAL COMMON STOCKS (Cost - $135,798,454)		131,900,662
		SHORT TERM INVESTMENTS - 3.4%
		Money Market Funds - 3.4%
	5,678,697	First American Treasury Obligations Fund, Class X, 2.14% (b)		5,678,697
		TOTAL SHORT TERM INVESTMENTS (Cost - $5,678,697)		5,678,697
		TOTAL INVESTMENTS - 101.0% (Cost - $175,942,113)		172,068,167
		Liabilities in Excess of Other Assets - (1.0)%		(1,648,016	)
		NET ASSETS - 100.0%	$	170,420,151
Percentages are stated as a percent of net assets.
(a) Non-income producing security.
(b) Interest rate reflects seven-day yield on August 31, 2022.