Horizon Defined Risk Fund | ||||||||
PORTFOLIO OF INVESTMENTS | ||||||||
February 28, 2023 (Unaudited) | ||||||||
Shares | Value | |||||||
COMMON STOCKS - 98.0% | ||||||||
Accommodation and Food Services - 0.0% (b) | ||||||||
2,599 | Caesars Entertainment, Inc. (a) | $ | 131,925 | |||||
Advertising - 0.1% | ||||||||
4,647 | Interpublic Group of Cos., Inc. | 165,154 | ||||||
2,428 | Omnicom Group, Inc. | 219,904 | ||||||
385,058 | ||||||||
Aerospace/Defense - 1.3% | ||||||||
6,772 | Boeing Co. (a) | 1,364,897 | ||||||
2,677 | General Dynamics Corp. | 610,115 | ||||||
4,428 | Howmet Aerospace, Inc. | 186,773 | ||||||
2,253 | L3Harris Technologies, Inc. | 475,811 | ||||||
2,753 | Lockheed Martin Corp. (e) | 1,305,638 | ||||||
1,703 | Northrop Grumman Corp. (e) | 790,379 | ||||||
549 | Teledyne Technologies, Inc. (a) | 236,108 | ||||||
610 | TransDigm Group, Inc. | 453,761 | ||||||
5,423,482 | ||||||||
Agriculture - 0.8% | ||||||||
21,190 | Altria Group, Inc. (e) | 983,852 | ||||||
6,497 | Archer Daniels Midland Co. | 517,161 | ||||||
18,140 | Philip Morris International, Inc. (e) | 1,765,022 | ||||||
3,266,035 | ||||||||
Airlines - 0.2% | ||||||||
1,495 | Alaska Air Group, Inc. (a) | 71,506 | ||||||
7,788 | American Airlines Group, Inc. (a) | 124,452 | ||||||
7,651 | Delta Air Lines, Inc. (a) | 293,339 | ||||||
7,107 | Southwest Airlines Co. | 238,653 | ||||||
4,033 | United Airlines Holdings, Inc. (a) | 209,555 | ||||||
937,505 | ||||||||
Apparel - 0.5% | ||||||||
15,121 | Nike, Inc., Class B | 1,796,224 | ||||||
513 | Ralph Lauren Corp., Class A | 60,631 | ||||||
3,034 | Tapestry, Inc. | 132,009 | ||||||
3,923 | VF Corp. | 97,369 | ||||||
2,086,233 | ||||||||
Auto Manufacturers - 0.5% | ||||||||
1,679 | Cummins, Inc. | 408,131 | ||||||
47,257 | Ford Motor Co. (e) | 570,392 | ||||||
17,216 | General Motors Co. (e) | 666,948 | ||||||
6,228 | PACCAR, Inc. | 449,662 | ||||||
2,095,133 | ||||||||
Auto Parts & Equipment - 0.1% | ||||||||
3,263 | Aptiv PLC (a) | 379,422 | ||||||
2,862 | BorgWarner, Inc. | 143,901 | ||||||
523,323 | ||||||||
Banks - 4.7% | ||||||||
84,279 | Bank of America Corp. | 2,890,770 | ||||||
8,858 | Bank of New York Mellon Corp. | 450,695 | ||||||
23,405 | Citigroup, Inc. | 1,186,399 | ||||||
5,973 | Citizens Financial Group, Inc. | 249,433 | ||||||
1,489 | Comerica, Inc. | 104,379 | ||||||
7,999 | Fifth Third Bancorp | 290,364 | ||||||
2,185 | First Republic Bank | 268,777 | ||||||
4,065 | Goldman Sachs Group, Inc. (e) | 1,429,457 | ||||||
17,158 | Huntington Bancshares, Inc. | 262,861 | ||||||
35,235 | JPMorgan Chase & Co. | 5,050,937 | ||||||
11,398 | KeyCorp | 208,469 | ||||||
2,086 | M&T Bank Corp. | 323,935 | ||||||
16,054 | Morgan Stanley | 1,549,211 | ||||||
2,651 | Northern Trust Corp. | 252,561 | ||||||
4,895 | PNC Financial Services Group, Inc. (e) | 773,018 | ||||||
11,385 | Regions Financial Corp. | 265,498 | ||||||
4,484 | State Street Corp. | 397,641 | ||||||
690 | SVB Financial Group (a) | 198,796 | ||||||
15,512 | Truist Financial Corp. (e) | 728,288 | ||||||
46,194 | Wells Fargo & Co. | 2,160,493 | ||||||
1,788 | Zions Bancorp NA | 90,509 | ||||||
19,132,491 | ||||||||
Beverages - 1.7% | ||||||||
2,135 | Brown-Forman Corp., Class B | 138,498 | ||||||
46,078 | Coca-Cola Co. | 2,742,102 | ||||||
1,926 | Constellation Brands, Inc., Class A | 430,846 | ||||||
2,246 | Molson Coors Brewing Co., B | 119,465 | ||||||
4,565 | Monster Beverage Corp. (a) | 464,534 | ||||||
16,364 | PepsiCo, Inc. | 2,839,645 | ||||||
6,735,090 | ||||||||
Biotechnology - 1.5% | ||||||||
6,383 | Amgen, Inc. | 1,478,686 | ||||||
1,714 | Biogen, Inc. (a) | 462,540 | ||||||
255 | Bio-Rad Laboratories, Inc., Class A (a) | 121,849 | ||||||
8,482 | Corteva, Inc. | 528,344 | ||||||
14,895 | Gilead Sciences, Inc. (e) | 1,199,494 | ||||||
1,922 | Illumina, Inc. (a)(e) | 382,862 | ||||||
2,198 | Incyte Corp. (a) | 169,202 | ||||||
1,274 | Regeneron Pharmaceuticals, Inc. (a)(e) | 968,775 | ||||||
3,075 | Vertex Pharmaceuticals, Inc. (a) | 892,642 | ||||||
6,204,394 | ||||||||
Building Materials - 0.4% | ||||||||
10,099 | Carrier Global Corp. | 454,758 | ||||||
8,211 | Johnson Controls International PLC (e) | 514,994 | ||||||
733 | Martin Marietta Materials, Inc. | 263,785 | ||||||
2,705 | Masco Corp. | 141,823 | ||||||
1,588 | Vulcan Materials Co. | 287,285 | ||||||
1,662,645 | ||||||||
Chemicals - 1.6% | ||||||||
2,639 | Air Products & Chemicals, Inc. (e) | 754,701 | ||||||
1,403 | Albemarle Corp. | 356,797 | ||||||
1,200 | Celanese Corp. | 139,476 | ||||||
2,346 | CF Industries Holdings, Inc. | 201,498 | ||||||
8,578 | Dow, Inc. | 490,662 | ||||||
5,974 | DuPont de Nemours, Inc. | 436,281 | ||||||
1,473 | Eastman Chemical Co. | 125,500 | ||||||
1,492 | FMC Corp. | 192,692 | ||||||
3,060 | International Flavors & Fragrances, Inc. | 285,192 | ||||||
5,876 | Linde PLC (e) | 2,047,022 | ||||||
3,044 | LyondellBasell Industries NV, Class A | 292,194 | ||||||
4,145 | Mosaic Co. | 220,472 | ||||||
2,821 | PPG Industries, Inc. | 372,541 | ||||||
2,827 | Sherwin-Williams Co. (e) | 625,756 | ||||||
6,540,784 | ||||||||
Commercial Services - 1.8% | ||||||||
4,939 | Automatic Data Processing, Inc. (e) | 1,085,691 | ||||||
1,020 | Cintas Corp. | 447,239 | ||||||
2,960 | Ecolab, Inc. (e) | 471,735 | ||||||
1,467 | Equifax, Inc. | 297,111 | ||||||
897 | FleetCor Technologies, Inc. (a) | 192,667 | ||||||
936 | Gartner, Inc. (a) | 306,830 | ||||||
3,327 | Global Payments, Inc. | 373,289 | ||||||
444 | MarketAxess Holdings, Inc. | 151,604 | ||||||
1,905 | Moody's Corp. (e) | 552,736 | ||||||
13,726 | PayPal Holdings, Inc. (a) | 1,010,233 | ||||||
1,689 | Quanta Services, Inc. | 272,605 | ||||||
1,303 | Robert Half International, Inc. | 105,048 | ||||||
2,765 | Rollins, Inc. | 97,328 | ||||||
4,013 | S&P Global, Inc. | 1,369,236 | ||||||
837 | United Rentals, Inc. | 392,160 | ||||||
1,861 | Verisk Analytics, Inc. | 318,436 | ||||||
7,443,948 | ||||||||
Computers - 7.8% | ||||||||
7,490 | Accenture PLC, Class A (e) | 1,988,970 | ||||||
178,605 | Apple, Inc. (e) | 26,328,163 | ||||||
6,148 | Cognizant Technology Solutions Corp., Class A | 385,049 | ||||||
2,796 | DXC Technology Co. (a) | 77,561 | ||||||
7,825 | Fortinet, Inc. (a) | 465,118 | ||||||
15,515 | Hewlett Packard Enterprise Co. | 242,189 | ||||||
10,918 | HP, Inc. | 322,299 | ||||||
10,716 | International Business Machines Corp. (e) | 1,385,579 | ||||||
1,608 | Leidos Holdings, Inc. | 156,089 | ||||||
2,642 | NetApp, Inc. | 170,541 | ||||||
3,750 | Western Digital Corp. (a) | 144,300 | ||||||
31,665,858 | ||||||||
Cosmetics/Personal Care - 1.3% | ||||||||
9,968 | Colgate-Palmolive Co. (e) | 730,654 | ||||||
2,760 | Estee Lauder Cos., Inc., Class A (e) | 670,818 | ||||||
28,775 | Procter & Gamble Co. | 3,958,289 | ||||||
5,359,761 | ||||||||
Distribution/Wholesale - 0.3% | ||||||||
5,101 | Copart, Inc. (a) | 359,416 | ||||||
6,644 | Fastenal Co. | 342,565 | ||||||
3,121 | LKQ Corp. | 178,802 | ||||||
532 | WW Grainger, Inc. | 355,605 | ||||||
1,236,388 | ||||||||
Diversified Financial Services - 4.0% | ||||||||
7,387 | American Express Co. (e) | 1,285,264 | ||||||
1,301 | Ameriprise Financial, Inc. | 446,074 | ||||||
1,808 | BlackRock, Inc. (e) | 1,246,489 | ||||||
4,913 | Capital One Financial Corp. (e) | 535,910 | ||||||
1,257 | CBOE Global Markets, Inc. | 158,596 | ||||||
19,312 | Charles Schwab Corp. (e) | 1,504,791 | ||||||
4,306 | CME Group, Inc. (e) | 798,160 | ||||||
3,491 | Discover Financial Services | 390,992 | ||||||
3,298 | Franklin Resources, Inc. | 97,192 | ||||||
6,643 | Intercontinental Exchange, Inc. (e) | 676,257 | ||||||
5,524 | Invesco, Ltd. | 97,554 | ||||||
10,188 | MasterCard, Inc., A | 3,619,695 | ||||||
4,063 | Nasdaq, Inc. | 227,772 | ||||||
2,344 | Raymond James Financial, Inc. | 254,230 | ||||||
5,704 | Synchrony Financial | 203,690 | ||||||
2,713 | T. Rowe Price Group, Inc. | 304,616 | ||||||
19,462 | Visa, Inc. | 4,280,472 | ||||||
16,127,754 | ||||||||
Electric - 2.5% | ||||||||
7,827 | AES Corp. | 193,170 | ||||||
2,936 | Alliant Energy Corp. | 150,529 | ||||||
3,088 | Ameren Corp. | 255,408 | ||||||
6,114 | American Electric Power Co., Inc. | 537,849 | ||||||
7,457 | CenterPoint Energy, Inc. | 207,454 | ||||||
3,435 | CMS Energy Corp. | 202,562 | ||||||
4,244 | Consolidated Edison, Inc. | 379,201 | ||||||
9,860 | Dominion Energy, Inc. (e) | 548,413 | ||||||
2,294 | DTE Energy Co. | 251,675 | ||||||
9,176 | Duke Energy Corp. (e) | 864,930 | ||||||
4,571 | Edison International | 302,646 | ||||||
2,424 | Entergy Corp. | 249,357 | ||||||
2,688 | Evergy, Inc. | 158,081 | ||||||
4,132 | Eversource Energy | 311,388 | ||||||
11,772 | Exelon Corp. | 475,471 | ||||||
6,439 | FirstEnergy Corp. | 254,598 | ||||||
23,611 | NextEra Energy, Inc. (e) | 1,677,089 | ||||||
2,790 | NRG Energy, Inc. | 91,484 | ||||||
19,236 | PG&E Corp. (a) | 300,466 | ||||||
1,337 | Pinnacle West Capital Corp. | 98,510 | ||||||
8,760 | PPL Corp. | 237,133 | ||||||
5,961 | Public Service Enterprise Group, Inc. | 360,223 | ||||||
3,753 | Sempra Energy | 562,800 | ||||||
13,020 | Southern Co. (e) | 821,041 | ||||||
3,769 | WEC Energy Group, Inc. | 334,160 | ||||||
6,519 | Xcel Energy, Inc. | 420,932 | ||||||
10,246,570 | ||||||||
Electrical Components & Equipment - 0.2% | ||||||||
7,064 | Emerson Electric Co. (e) | 584,263 | ||||||
Electronics - 1.3% | ||||||||
3,539 | Agilent Technologies, Inc. | 502,432 | ||||||
1,062 | Allegion PLC | 119,698 | ||||||
7,183 | Amphenol Corp., Class A | 556,826 | ||||||
4,179 | Fortive Corp. | 278,572 | ||||||
1,845 | Garmin, Ltd. | 181,050 | ||||||
8,011 | Honeywell International, Inc. (e) | 1,533,946 | ||||||
2,143 | Keysight Technologies, Inc. (a) | 342,794 | ||||||
267 | Mettler-Toledo International, Inc. (a) | 382,801 | ||||||
1,490 | PerkinElmer, Inc. | 185,609 | ||||||
1,265 | Roper Technologies, Inc. | 544,203 | ||||||
3,857 | TE Connectivity, Ltd. | 491,073 | ||||||
711 | Waters Corp. (a) | 221,043 | ||||||
5,340,047 | ||||||||
Entertainment - 0.0% (b) | ||||||||
1,688 | Live Nation Entertainment, Inc. (a) | 121,637 | ||||||
Environmental Control - 0.3% | ||||||||
1,986 | Pentair PLC | 111,097 | ||||||
2,436 | Republic Services, Inc. | 314,074 | ||||||
4,445 | Waste Management, Inc. (e) | 665,683 | ||||||
1,090,854 | ||||||||
Finance and Insurance - 0.3% | ||||||||
4,405 | Arch Capital Group Ltd. (a) | 308,350 | ||||||
2,765 | Brown & Brown, Inc. | 155,033 | ||||||
751 | Signature Bank/New York NY | 86,403 | ||||||
16,275 | US Bancorp | 776,806 | ||||||
1,326,592 | ||||||||
Food - 1.2% | ||||||||
2,399 | Campbell Soup Co. | 125,996 | ||||||
5,639 | Conagra Brands, Inc. | 205,316 | ||||||
7,064 | General Mills, Inc. | 561,659 | ||||||
1,750 | Hershey Co. | 417,060 | ||||||
3,437 | Hormel Foods Corp. | 152,534 | ||||||
1,269 | J.M. Smucker Co. | 187,672 | ||||||
3,035 | Kellogg Co. | 200,128 | ||||||
9,366 | Kraft Heinz Co. | 364,712 | ||||||
7,818 | Kroger Co. | 337,269 | ||||||
1,713 | Lamb Weston Holdings, Inc. | 172,396 | ||||||
2,991 | McCormick & Co., Inc. | 222,291 | ||||||
16,217 | Mondelez International, Inc., Class A (e) | 1,057,024 | ||||||
6,076 | Sysco Corp. | 453,087 | ||||||
3,484 | Tyson Foods, Inc., Class A | 206,392 | ||||||
4,663,536 | ||||||||
Forest Products & Paper - 0.0% (b) | ||||||||
4,323 | International Paper Co. | 157,314 | ||||||
Gas - 0.1% | ||||||||
1,649 | Atmos Energy Corp. | 186,024 | ||||||
4,819 | NiSource, Inc. | 132,185 | ||||||
318,209 | ||||||||
Hand/Machine Tools - 0.1% | ||||||||
633 | Snap-on, Inc. | 157,414 | ||||||
1,770 | Stanley Black & Decker, Inc. | 151,530 | ||||||
308,944 | ||||||||
Health Care and Social Assistance - 0.1% | ||||||||
681 | Molina Healthcare, Inc. (a) | 187,500 | ||||||
Healthcare Products - 3.5% | ||||||||
495 | ABIOMED, Inc. (a)(g) | – | ||||||
20,743 | Abbott Laboratories | 2,109,978 | ||||||
894 | Align Technology, Inc. (a) | 276,693 | ||||||
5,973 | Baxter International, Inc. | 238,621 | ||||||
17,041 | Boston Scientific Corp. (a)(e) | 796,155 | ||||||
576 | Cooper Cos., Inc. | 188,335 | ||||||
7,809 | Danaher Corp. (e) | 1,932,962 | ||||||
2,585 | Dentsply Sirona, Inc. | 98,411 | ||||||
7,390 | Edwards Lifesciences Corp. (a)(e) | 594,451 | ||||||
2,981 | Hologic, Inc. (a) | 237,407 | ||||||
1,007 | IDEXX Laboratories, Inc. (a) | 476,553 | ||||||
4,269 | Intuitive Surgical, Inc. (a)(e) | 979,266 | ||||||
15,883 | Medtronic PLC | 1,315,112 | ||||||
1,717 | ResMed, Inc. | 365,721 | ||||||
1,173 | STERIS PLC | 220,559 | ||||||
3,994 | Stryker Corp. (e) | 1,049,943 | ||||||
547 | Teleflex, Inc. | 130,312 | ||||||
4,672 | Thermo Fisher Scientific, Inc. (e) | 2,531,103 | ||||||
872 | West Pharmaceutical Services, Inc. | 276,450 | ||||||
2,501 | Zimmer Biomet Holdings, Inc. | 309,799 | ||||||
14,127,831 | ||||||||
Healthcare Services - 2.3% | ||||||||
2,816 | Anthem, Inc. | 1,322,591 | ||||||
6,746 | Centene Corp. (a) | 461,426 | ||||||
661 | DaVita, Inc. (a) | 54,374 | ||||||
2,564 | HCA Healthcare, Inc. (e) | 624,206 | ||||||
1,481 | Humana, Inc. (e) | 733,124 | ||||||
2,208 | IQVIA Holdings, Inc. (a) | 460,302 | ||||||
1,068 | Laboratory Corp. of America Holdings | 255,636 | ||||||
1,377 | Quest Diagnostics, Inc. | 190,522 | ||||||
11,032 | UnitedHealth Group, Inc. | 5,250,570 | ||||||
796 | Universal Health Services, Inc., Class B | 106,322 | ||||||
9,459,073 | ||||||||
Home Builders - 0.2% | ||||||||
3,786 | DR Horton, Inc. | 350,129 | ||||||
3,046 | Lennar Corp., Class A | 294,670 | ||||||
30 | NVR, Inc. (a) | 155,209 | ||||||
2,749 | PulteGroup, Inc. | 150,288 | ||||||
950,296 | ||||||||
Home Furnishings - 0.0% (b) | ||||||||
654 | Whirlpool Corp. | 90,239 | ||||||
Household Products/Wares - 0.3% | ||||||||
978 | Avery Dennison Corp. | 178,182 | ||||||
2,909 | Church & Dwight Co., Inc. | 243,716 | ||||||
1,465 | Clorox Co. | 227,719 | ||||||
4,035 | Kimberly-Clark Corp. | 504,577 | ||||||
1,154,194 | ||||||||
Housewares - 0.0% (b) | ||||||||
4,544 | Newell Brands, Inc. | 66,751 | ||||||
Information - 0.3% | ||||||||
1,814 | Ceridian HCM Holding, Inc. (a) | 132,295 | ||||||
4,868 | CoStar Group, Inc. (a) | 343,973 | ||||||
446 | FactSet Research Systems, Inc. | 184,889 | ||||||
11,079 | Lumen Technologies, Inc. | 37,669 | ||||||
1,248 | PTC, Inc. (a) | 156,412 | ||||||
27,349 | Warner Bros Discovery, Inc. (a) | 427,191 | ||||||
1,282,429 | ||||||||
Insurance - 3.9% | ||||||||
6,845 | Aflac, Inc. | 466,487 | ||||||
3,384 | Allstate Corp. | 435,792 | ||||||
8,876 | American International Group, Inc. | 542,412 | ||||||
2,469 | Aon PLC, Class A (e) | 750,699 | ||||||
2,500 | Arthur J Gallagher & Co. | 468,375 | ||||||
632 | Assurant, Inc. | 80,510 | ||||||
21,637 | Berkshire Hathaway, Inc., Class B (a) | 6,603,180 | ||||||
4,959 | Chubb Ltd. (e) | 1,046,448 | ||||||
1,897 | Cincinnati Financial Corp. | 228,968 | ||||||
468 | Everest Re Group Ltd. | 179,698 | ||||||
1,074 | Globe Life, Inc. | 130,695 | ||||||
3,849 | Hartford Financial Services Group, Inc. | 301,300 | ||||||
1,865 | Lincoln National Corp. | 59,158 | ||||||
2,326 | Loews Corp. | 142,095 | ||||||
5,937 | Marsh & McLennan Cos., Inc. (e) | 962,625 | ||||||
7,982 | MetLife, Inc. | 572,549 | ||||||
2,769 | Principal Financial Group, Inc. | 247,992 | ||||||
7,060 | Progressive Corp. (e) | 1,013,251 | ||||||
4,453 | Prudential Financial, Inc. | 445,300 | ||||||
2,821 | Travelers Cos., Inc. | 522,224 | ||||||
1,306 | Willis Towers Watson PLC | 306,074 | ||||||
2,433 | WR Berkley Corp. | 161,040 | ||||||
15,666,872 | ||||||||
Internet - 6.3% | ||||||||
71,095 | Alphabet, Inc., Class A (a)(e) | 6,402,816 | ||||||
107,075 | Amazon.com, Inc. (a)(e) | 10,089,677 | ||||||
464 | Booking Holdings, Inc. (a)(e) | 1,171,136 | ||||||
1,603 | CDW Corp. | 324,479 | ||||||
6,593 | eBay, Inc. | 302,619 | ||||||
1,786 | Expedia Group, Inc. (a) | 194,620 | ||||||
705 | F5 Networks, Inc. (a) | 100,801 | ||||||
26,753 | Meta Platforms, Inc., Class A (a)(e) | 4,680,170 | ||||||
6,874 | Gen Digital, Inc. | 134,112 | ||||||
5,424 | Netflix, Inc. (a)(e) | 1,747,233 | ||||||
1,107 | VeriSign, Inc. (a) | 217,891 | ||||||
25,365,554 | ||||||||
Iron/Steel - 0.1% | ||||||||
3,111 | Nucor Corp. | 520,906 | ||||||
Leisure Time - 0.1% | ||||||||
11,885 | Carnival Corp. (a) | 126,219 | ||||||
5,079 | Norwegian Cruise Line Holdings Ltd. (a) | 75,271 | ||||||
2,643 | Royal Caribbean Cruises Ltd. (a) | 186,701 | ||||||
388,191 | ||||||||
Lodging - 0.4% | ||||||||
3,271 | Hilton Worldwide Holdings, Inc. | 472,692 | ||||||
3,864 | Las Vegas Sands Corp. (a) | 222,064 | ||||||
3,216 | Marriott International, Inc., Class A | 544,276 | ||||||
3,914 | MGM Resorts International | 168,341 | ||||||
1,247 | Wynn Resorts Ltd. (a) | 135,138 | ||||||
1,542,511 | ||||||||
Machinery - Construction & Mining - 0.4% | ||||||||
6,249 | Caterpillar, Inc. (e) | 1,496,948 | ||||||
Machinery - Diversified - 0.8% | ||||||||
3,299 | Deere & Co. (e) | 1,383,073 | ||||||
1,698 | Dover Corp. | 254,530 | ||||||
894 | IDEX Corp.(e) | 201,132 | ||||||
4,804 | Ingersoll Rand, Inc. | 278,968 | ||||||
4,987 | Otis Worldwide Corp. | 422,000 | ||||||
1,377 | Rockwell Automation, Inc. | 406,119 | ||||||
2,164 | Wabtec Corp. | 225,770 | ||||||
2,141 | Xylem, Inc. | 219,774 | ||||||
3,391,366 | ||||||||
Manufacturing - 4.8% | ||||||||
62,969 | Alphabet, Inc., Class C (a)(e) | 5,686,101 | ||||||
1,834 | Bio-Techne Corp. | 133,222 | ||||||
2,148 | Catalent, Inc. (a) | 146,536 | ||||||
1,650 | Enphase Energy, Inc. (a) | 347,374 | ||||||
4,323 | GE HealthCare Technologies, Inc. (a) | 328,548 | ||||||
759 | Generac Holdings, Inc. (a) | 91,088 | ||||||
13,106 | General Electric Co. | 1,110,209 | ||||||
10,079 | Keurig Dr Pepper, Inc. | 348,229 | ||||||
3,995 | Moderna, Inc. (a)(e) | 554,546 | ||||||
541 | Monolithic Power Systems, Inc. | 262,001 | ||||||
644 | Nordson Corp. | 141,448 | ||||||
3,173 | NXP Semiconductors NV (e) | 566,317 | ||||||
5,258 | ON Semiconductor Corp. (a) | 407,022 | ||||||
3,026 | Organon & Co. | 74,107 | ||||||
17,610 | Raytheon Technologies Corp. (e) | 1,727,365 | ||||||
2,345 | Seagate Technology Holdings Plc | 151,393 | ||||||
677 | SolarEdge Technologies, Inc. (a) | 215,232 | ||||||
1,981 | Steel Dynamics, Inc. | 249,824 | ||||||
1,892 | Teradyne, Inc. | 191,357 | ||||||
32,135 | Tesla, Inc. (a)(e) | 6,610,491 | ||||||
2,964 | Trimble, Inc. (a) | 154,306 | ||||||
19,496,716 | ||||||||
Media - 1.2% | ||||||||
1,290 | Charter Communications, Inc., Class A (a) | 474,217 | ||||||
51,707 | Comcast Corp., Class A | 1,921,949 | ||||||
2,950 | DISH Network Corp., Class A (a) | 33,659 | ||||||
3,701 | Fox Corp., Class A | 129,609 | ||||||
1,765 | Fox Corp., Class B | 56,921 | ||||||
4,678 | News Corp., Class A | 80,228 | ||||||
1,465 | News Corp., Class B | 25,286 | ||||||
6,189 | ViacomCBS, Inc., Class B | 132,568 | ||||||
21,832 | Walt Disney Co. (a) | 2,174,686 | ||||||
5,029,123 | ||||||||
Mining - 0.3% | ||||||||
17,188 | Freeport-McMoRan, Inc. | 704,192 | ||||||
9,483 | Newmont Goldcorp Corp. | 413,554 | ||||||
1,117,746 | ||||||||
Mining, Quarrying, and Oil and Gas Extraction - 0.1% | ||||||||
3,888 | APA Corp. | 149,221 | ||||||
2,680 | Targa Resources Corp. | 198,588 | ||||||
347,809 | ||||||||
Miscellaneous Manufacturing - 0.9% | ||||||||
6,650 | 3M Co. (e) | 716,471 | ||||||
1,535 | AO Smith Corp. | 100,742 | ||||||
4,775 | Eaton Corp PLC (e) | 835,291 | ||||||
3,349 | Illinois Tool Works, Inc. | 780,853 | ||||||
1,525 | Parker-Hannifin Corp. | 536,571 | ||||||
2,534 | Textron, Inc. | 183,791 | ||||||
2,772 | Trane Technologies PLC | 512,737 | ||||||
3,666,456 | ||||||||
Office/Business Equipment - 0.1% | ||||||||
622 | Zebra Technologies Corp., Class A (a) | 186,756 | ||||||
Oil & Gas - 3.9% | ||||||||
9,473 | Cabot Oil & Gas Corp. | 236,541 | ||||||
21,159 | Chevron Corp. | 3,401,732 | ||||||
14,924 | ConocoPhillips (e) | 1,542,395 | ||||||
7,762 | Devon Energy Corp. | 418,527 | ||||||
2,106 | Diamondback Energy, Inc. | 296,061 | ||||||
6,944 | EOG Resources, Inc. | 784,811 | ||||||
4,350 | EQT Corp. | 144,333 | ||||||
49,114 | Exxon Mobil Corp. | 5,398,120 | ||||||
3,292 | Hess Corp. | 443,432 | ||||||
7,564 | Marathon Oil Corp. | 190,235 | ||||||
5,578 | Marathon Petroleum Corp. | 689,441 | ||||||
8,652 | Occidental Petroleum Corp. | 506,661 | ||||||
5,669 | Phillips 66 | 581,413 | ||||||
2,833 | Pioneer Natural Resources Co. | 567,761 | ||||||
4,594 | Valero Energy Corp. | 605,168 | ||||||
15,806,631 | ||||||||
Oil & Gas Services - 0.4% | ||||||||
11,992 | Baker Hughes & GE Co., Class A | 366,955 | ||||||
10,873 | Halliburton Co. | 393,929 | ||||||
17,057 | Schlumberger, Ltd. | 907,603 | ||||||
1,668,487 | ||||||||
Packaging & Containers - 0.2% | ||||||||
17,898 | Amcor PLC | 199,384 | ||||||
3,753 | Ball Corp. | 210,956 | ||||||
1,120 | Packaging Corp of America | 153,127 | ||||||
1,760 | Sealed Air Corp. | 85,571 | ||||||
3,033 | Westrock Co. | 95,236 | ||||||
744,274 | ||||||||
Pharmaceuticals - 6.1% | ||||||||
21,190 | AbbVie, Inc. (e) | 3,261,141 | ||||||
1,915 | AmerisourceBergen Corp. | 297,897 | ||||||
3,384 | Becton Dickinson & Co. (e) | 793,717 | ||||||
25,124 | Bristol-Myers Squibb Co. (e) | 1,732,551 | ||||||
3,120 | Cardinal Health, Inc. | 236,215 | ||||||
3,596 | Cigna Corp. (e) | 1,050,392 | ||||||
15,606 | CVS Health Corp. (e) | 1,303,725 | ||||||
4,630 | DexCom, Inc. (a) | 513,976 | ||||||
9,308 | Eli Lilly & Co. (e) | 2,896,836 | ||||||
1,646 | Henry Schein, Inc. (a) | 128,898 | ||||||
31,006 | Johnson & Johnson | 4,751,980 | ||||||
1,702 | McKesson Corp. | 595,377 | ||||||
30,057 | Merck & Co., Inc. | 3,193,256 | ||||||
66,845 | Pfizer, Inc. | 2,711,902 | ||||||
14,401 | Viatris, Inc. | 164,171 | ||||||
5,545 | Zoetis, Inc., Class A (e) | 926,015 | ||||||
24,558,049 | ||||||||
Pipelines - 0.3% | ||||||||
23,187 | Kinder Morgan, Inc. | 395,570 | ||||||
5,324 | ONEOK, Inc. | 348,456 | ||||||
14,464 | Williams Cos., Inc. | 435,366 | ||||||
1,179,392 | ||||||||
Professional, Scientific, and Technical Services - 0.2% | ||||||||
591 | Charles River Laboratories International, Inc. (a) | 129,630 | ||||||
695 | EPAM Systems, Inc. (a) | 213,817 | ||||||
1,538 | Jacobs Solutions, Inc. | 183,791 | ||||||
3,369 | Match Group, Inc. (a) | 139,544 | ||||||
666,782 | ||||||||
Real Estate - 0.1% | ||||||||
3,828 | CBRE Group, Inc., Class A (a) | 325,916 | ||||||
Real Estate Investment Trusts - 2.5% | ||||||||
1,760 | Alexandria Real Estate Equities, Inc. | 263,613 | ||||||
5,538 | American Tower Corp. (e) | 1,096,579 | ||||||
1,666 | AvalonBay Communities, Inc. | 287,418 | ||||||
1,690 | Boston Properties, Inc. | 110,661 | ||||||
1,263 | Camden Property Trust | 144,942 | ||||||
5,128 | Crown Castle International Corp. (e) | 670,486 | ||||||
3,407 | Digital Realty Trust, Inc. | 355,112 | ||||||
1,092 | Equinix, Inc. (e) | 751,591 | ||||||
4,007 | Equity Residential | 250,518 | ||||||
762 | Essex Property Trust, Inc. | 173,782 | ||||||
1,575 | Extra Space Storage, Inc. | 259,324 | ||||||
871 | Federal Realty OP LP | 93,005 | ||||||
6,344 | Healthpeak Properties, Inc. | 152,637 | ||||||
8,359 | Host Hotels & Resorts, Inc. | 140,431 | ||||||
6,866 | Invitation Homes, Inc. | 214,631 | ||||||
3,420 | Iron Mountain, Inc. | 180,405 | ||||||
7,306 | Kimco Realty Corp. | 150,577 | ||||||
1,351 | Mid-America Apartment Communities, Inc. | 216,295 | ||||||
10,937 | Prologis, Inc. (e) | 1,349,626 | ||||||
1,872 | Public Storage | 559,634 | ||||||
7,446 | Realty Income Corp. | 476,172 | ||||||
1,786 | Regency Centers Corp. | 112,339 | ||||||
1,264 | SBA Communications Corp. | 327,818 | ||||||
3,889 | Simon Property Group, Inc. | 474,808 | ||||||
3,642 | UDR, Inc. | 156,023 | ||||||
4,717 | Ventas, Inc. | 229,482 | ||||||
11,388 | VICI Properties, Inc. | 381,840 | ||||||
5,616 | Welltower, Inc. | 416,258 | ||||||
8,842 | Weyerhaeuser Co. | 276,312 | ||||||
10,272,319 | ||||||||
Retail - 5.3% | ||||||||
722 | Advance Auto Parts, Inc. (e) | 104,661 | ||||||
225 | AutoZone, Inc. (a) | 559,472 | ||||||
2,404 | Best Buy Co., Inc. | 199,796 | ||||||
1,939 | CarMax, Inc. (a) | 133,869 | ||||||
328 | Chipotle Mexican Grill, Inc. (a) | 489,074 | ||||||
5,335 | Costco Wholesale Corp. (e) | 2,583,100 | ||||||
1,454 | Darden Restaurants, Inc. | 207,908 | ||||||
2,699 | Dollar General Corp. (e) | 583,794 | ||||||
2,553 | Dollar Tree, Inc. (a) | 370,900 | ||||||
423 | Domino's Pizza, Inc. | 124,366 | ||||||
1,685 | Genuine Parts Co. | 298,009 | ||||||
12,321 | Home Depot, Inc. | 3,653,669 | ||||||
�� | 7,416 | Lowe's Cos., Inc. (e) | 1,525,842 | |||||
8,662 | McDonald's Corp. | 2,285,988 | ||||||
737 | O'Reilly Automotive, Inc. (a) | 611,784 | ||||||
4,187 | Ross Stores, Inc. | 462,831 | ||||||
13,602 | Starbucks Corp. (e) | 1,388,628 | ||||||
5,542 | Target Corp. (e) | 933,827 | ||||||
13,886 | TJX Cos., Inc. (e) | 1,063,668 | ||||||
1,326 | Tractor Supply Co. | 309,303 | ||||||
623 | Ulta Beauty, Inc. (a) | 323,212 | ||||||
8,550 | Walgreens Boots Alliance, Inc. | 303,782 | ||||||
16,787 | Walmart, Inc. | 2,385,936 | ||||||
3,389 | Yum! Brands, Inc. | 430,945 | ||||||
21,334,364 | ||||||||
Retail Trade - 0.1% | ||||||||
2,743 | Bath & Body Works, Inc. | 112,107 | ||||||
1,498 | Etsy, Inc. (a) | 181,872 | ||||||
293,979 | ||||||||
Semiconductors - 5.4% | ||||||||
19,679 | Advanced Micro Devices, Inc. (a) | 1,546,376 | ||||||
6,235 | Analog Devices, Inc. (e) | 1,143,935 | ||||||
10,401 | Applied Materials, Inc. (e) | 1,208,076 | ||||||
4,888 | Broadcom, Inc. (e) | 2,904,889 | ||||||
49,634 | Intel Corp. | 1,237,376 | ||||||
1,710 | KLA Corp. (e) | 648,740 | ||||||
1,651 | Lam Research Corp. (e) | 802,402 | ||||||
6,653 | Microchip Technology, Inc. | 539,093 | ||||||
13,174 | Micron Technology, Inc. (e) | 761,721 | ||||||
30,477 | NVIDIA Corp. (e) | 7,075,540 | ||||||
1,253 | Qorvo, Inc. (a) | 126,415 | ||||||
13,709 | QUALCOMM, Inc. (e) | 1,693,473 | ||||||
1,929 | Skyworks Solutions, Inc. | 215,219 | ||||||
10,942 | Texas Instruments, Inc. (e) | 1,876,006 | ||||||
21,779,261 | ||||||||
Shipbuilding - 0.0% (b) | ||||||||
468 | Huntington Ingalls Industries, Inc. | 100,714 | ||||||
Software - 9.0% | ||||||||
8,466 | Activision Blizzard, Inc. (e) | 645,532 | ||||||
5,521 | Adobe, Inc. (a) | 1,788,528 | ||||||
1,889 | Akamai Technologies, Inc. (a) | 137,141 | ||||||
1,023 | ANSYS, Inc. (a) | 310,593 | ||||||
2,584 | Autodesk, Inc. (a)(e) | 513,415 | ||||||
1,401 | Broadridge Financial Solutions, Inc. | 197,233 | ||||||
3,249 | Cadence Design Systems, Inc. (a) | 626,862 | ||||||
3,136 | Electronic Arts, Inc. | 347,908 | ||||||
7,159 | Fidelity National Information Services, Inc. (e) | 453,666 | ||||||
7,616 | Fiserv, Inc. (a) | 876,525 | ||||||
3,348 | Intuit, Inc. (e) | 1,363,239 | ||||||
871 | Jack Henry & Associates, Inc. | 143,053 | ||||||
89,882 | Microsoft Corp. (e) | 22,418,368 | ||||||
964 | MSCI, Inc. (e) | 503,353 | ||||||
18,307 | Oracle Corp. | 1,600,032 | ||||||
3,822 | Paychex, Inc. | 421,949 | ||||||
579 | Paycom Software, Inc. (a) | 167,366 | ||||||
11,875 | salesforce.com, Inc. (a) | 1,942,869 | ||||||
2,358 | ServiceNow, Inc. (a)(e) | 1,019,057 | ||||||
1,809 | Synopsys, Inc. (a)(e) | 658,042 | ||||||
1,864 | Take-Two Interactive Software, Inc. (a) | 204,201 | ||||||
493 | Tyler Technologies, Inc. (a) | 158,376 | ||||||
36,497,308 | ||||||||
Telecommunications - 2.1% | ||||||||
2,930 | Arista Networks, Inc. (a) | 406,391 | ||||||
85,530 | AT&T, Inc. | 1,617,372 | ||||||
48,981 | Cisco Systems, Inc. | 2,371,660 | ||||||
9,053 | Corning, Inc. | 307,349 | ||||||
3,825 | Juniper Networks, Inc. | 117,734 | ||||||
1,977 | Motorola Solutions, Inc. | 519,576 | ||||||
7,162 | T-Mobile US, Inc. (a)(e) | 1,018,293 | ||||||
50,389 | Verizon Communications, Inc. | 1,955,597 | ||||||
8,313,972 | ||||||||
Textiles - 0.0% (b) | ||||||||
614 | Mohawk Industries, Inc. (a) | 63,150 | ||||||
Toys/Games/Hobbies - 0.0% (b) | ||||||||
1,544 | Hasbro, Inc. | 84,935 | ||||||
Transportation - 1.5% | ||||||||
1,470 | CH Robinson Worldwide, Inc. | 146,941 | ||||||
25,261 | CSX Corp. (e) | 770,208 | ||||||
1,955 | Expeditors International of Washington, Inc. | 204,415 | ||||||
2,868 | FedEx Corp. (e) | 582,835 | ||||||
985 | JB Hunt Transport Services, Inc. | 178,078 | ||||||
2,769 | Norfolk Southern Corp. (e) | 622,527 | ||||||
1,086 | Old Dominion Freight Line, Inc. | 368,436 | ||||||
7,333 | Union Pacific Corp. (e) | 1,519,984 | ||||||
8,737 | United Parcel Service, Inc., Class B (e) | 1,594,415 | ||||||
5,987,839 | ||||||||
Utilities - 0.1% | ||||||||
3,909 | Constellation Energy Corp. | 292,745 | ||||||
1,207 | First Solar, Inc. (a) | 204,152 | ||||||
496,897 | ||||||||
Water - 0.1% | ||||||||
2,171 | American Water Works Co., Inc. | 304,765 | ||||||
Wholesale Trade - 0.0% (b) | ||||||||
475 | Pool Corp. | 169,509 | ||||||
TOTAL COMMON STOCKS (Cost - $378,468,324) | 397,299,583 | |||||||
Contracts | Notional Amount | |||||||
PURCHASED OPTIONS - 2.1% (a)(c)(f) | ||||||||
PURCHASED PUT OPTIONS - 2.1% | ||||||||
S&P 500 Index | ||||||||
160 | Expiration: March 2023, Exercise Price: $3,875 | $ 63,522,400 | 517,600 | |||||
150 | Expiration: March 2023, Exercise Price: $3,950 | 59,552,250 | 856,500 | |||||
250 | Expiration: April 2023, Exercise Price: $3,850 | 99,253,750 | 1,608,750 | |||||
75 | Expiration: April 2023, Exercise Price: $3,925 | 29,776,125 | 654,750 | |||||
345 | Expiration: May 2023, Exercise Price: $4,000 | 136,970,175 | 4,843,800 | |||||
TOTAL PURCHASED OPTIONS (Cost - $12,195,554) | 8,481,400 | |||||||
Shares | ||||||||
SHORT TERM INVESTMENTS - 0.8% | ||||||||
Money Market Funds - 0.8% | ||||||||
3,061,196 | First American Treasury Obligations Fund, Class X, 4.48% (d) | 3,061,196 | ||||||
TOTAL SHORT TERM INVESTMENTS (Cost - $3,061,196) | 3,061,196 | |||||||
TOTAL INVESTMENTS - 100.9% (Cost - $393,725,074) | 408,842,179 | |||||||
Liabilities in Excess of Other Assets - (0.9)% | (3,649,158 | ) | ||||||
NET ASSETS - 100.0% | $ | 405,193,021 | ||||||
Contracts | Notional Value | Value | ||||||
SCHEDULE OF WRITTEN OPTIONS - (1.1)% (a)(c) | ||||||||
SCHEDULE OF WRITTEN CALL OPTIONS - (0.5)% | ||||||||
S&P 500 Index | ||||||||
310 | Expiration: March 2023, Exercise Price $4,150 | $ 123,074,650 | 102,400 | |||||
310 | Expiration: March 2023, Exercise Price $4,275 | 123,074,650 | 11,250 | |||||
325 | Expiration: April 2023, Exercise Price $4,125 | 129,029,875 | 1,100,000 | |||||
325 | Expiration: April 2023, Exercise Price $4,200 | 129,029,875 | 176,625 | |||||
345 | Expiration: May 2023, Exercise Price $4,300 | 136,970,175 | 774,525 | |||||
TOTAL WRITTEN CALL OPTIONS (Premiums Received $6,041,561) | 2,164,800 | |||||||
SCHEDULE OF WRITTEN PUT OPTIONS - (0.6)% | ||||||||
S&P 500 Index | ||||||||
310 | Expiration: March 2023, Exercise Price $3,475 | 123,074,650 | 23,600 | |||||
310 | Expiration: March 2023, Exercise Price $3,550 | 123,074,650 | 32,625 | |||||
325 | Expiration: April 2023, Exercise Price $3,500 | 129,029,875 | 323,750 | |||||
325 | Expiration: April 2023, Exercise Price $3,575 | 129,029,875 | 136,500 | |||||
345 | Expiration: May 2023, Exercise Price $3,675 | 136,970,175 | 1,666,350 | |||||
TOTAL WRITTEN PUT OPTIONS (Premiums Received $4,360,806) | 2,182,825 | |||||||
TOTAL OPTIONS WRITTEN (Premiums Received $10,402,368) | $ | 4,347,625 | ||||||
Percentages are stated as a percent of net assets. | ||||||||
(a) Non-income producing security. | ||||||||
(b) Rounds to less than 0.1%. | ||||||||
(c) Each option is exercisable into 100 shares of the underlying security. | ||||||||
(d) Interest rate reflects seven-day yield on February 28, 2023. | ||||||||
(e) All or a portion of the security is segregated as collateral for written options. The value of the securities segregated as collateral for written options is $67,183,761, which is 16.6% of total net assets. | ||||||||
(f) Held in connection with a written option, see Schedule of Written Options for more details. | ||||||||
(g) Value determined using significant unobservable inputs. Classified as Level 3 in the fair value hierarchy. | ||||||||
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NPORT-P Filing
Horizon Funds NPORT-PHorizon Defined Risk Fund (Feb 2023 report)
Filed: 26 Apr 23, 4:01pm