Horizon Active Asset Allocation Fund | |||||||||||
PORTFOLIO OF INVESTMENTS (Unaudited) | |||||||||||
August 31, 2023 | |||||||||||
Shares | Value | ||||||||||
INVESTMENT COMPANIES - 99.0% | |||||||||||
Exchange Traded Funds - 99.0% | |||||||||||
271,609 | Communication Services Select Sector SPDR Fund | $ | 18,396,078 | ||||||||
303 | Consumer Staples Select Sector SPDR Fund | 22,046 | |||||||||
304,447 | Energy Select Sector SPDR Fund | 27,071,427 | |||||||||
198,224 | Invesco QQQ Trust Series 1 | 74,926,690 | |||||||||
544,595 | Invesco S&P 500 Equal Weight ETF (a) | 81,645,682 | |||||||||
1,089,441 | iShares Core MSCI EAFE ETF | 72,894,497 | |||||||||
137,708 | iShares Core S&P Mid-Cap ETF (a) | 36,396,224 | |||||||||
271,460 | iShares Core S&P Small-Cap ETF | 27,357,739 | |||||||||
1,189,235 | iShares Edge MSCI USA Quality Factor ETF | 165,731,790 | |||||||||
342,211 | iShares Latin America 40 ETF (a) | 8,935,129 | |||||||||
632 | iShares MSCI EAFE ETF | 45,207 | |||||||||
501 | iShares MSCI Eurozone ETF | 22,460 | |||||||||
507 | iShares MSCI India ETF | 22,293 | |||||||||
754,940 | iShares MSCI Japan ETF (a) | 46,534,502 | |||||||||
605,204 | iShares MSCI USA Minimum Volatility ETF | 45,317,676 | |||||||||
466 | iShares MSCI USA Momentum Factor ETF | 68,595 | |||||||||
192 | iShares U.S. Aerospace & Defense ETF | 22,305 | |||||||||
874 | Pacer US Cash Cows 100 ETF | 44,504 | |||||||||
1,053,511 | SPDR Portfolio Emerging Markets ETF (a) | 36,156,498 | |||||||||
2,081,103 | SPDR Portfolio S&P 500 Growth ETF | 130,068,937 | |||||||||
1,047,883 | SPDR Portfolio S&P 500 Value ETF | 45,551,474 | |||||||||
746 | SPDR S&P Regional Banking ETF | 33,242 | |||||||||
297 | VanEck Semiconductor ETF (a) | 46,397 | |||||||||
325,161 | WisdomTree Japan Hedged Equity Fund | 27,980,104 | |||||||||
1,084,922 | WisdomTree U.S. Quality Dividend Growth Fund | 72,733,171 | |||||||||
TOTAL INVESTMENT COMPANIES (Cost - $877,652,890) | 918,024,667 | ||||||||||
Contracts | Notional Value | ||||||||||
PURCHASED OPTIONS - 0.0% (b)(c)(d) | |||||||||||
PURCHASED PUT OPTIONS - 0.0% | |||||||||||
SPDR S&P 500 ETF Trust | |||||||||||
2,000 | Expiration: September 2023, Exercise Price: $430 | $ | 90,070,000 | 87,000 | |||||||
TOTAL PURCHASED OPTIONS (Cost - $560,650) | 87,000 | ||||||||||
Shares | |||||||||||
SHORT TERM INVESTMENTS - 1.0% | |||||||||||
Money Market Funds - 1.0% | |||||||||||
8,805,885 | First American Treasury Obligations Fund, Class X, 5.26% (e) | 8,805,885 | |||||||||
TOTAL SHORT TERM INVESTMENTS (Cost - $8,805,885) | 8,805,885 | ||||||||||
INVESTMENTS PURCHASED WITH PROCEEDS FROM SECURITIES LENDING - 10.2% | |||||||||||
94,630,844 | First American Government Obligations Fund, Class X, 5.18% (e) | 94,630,844 | |||||||||
TOTAL INVESTMENTS PURCHASED WITH PROCEEDS FROM SECURITIES LENDING (Cost - $94,630,844) | 94,630,844 | ||||||||||
TOTAL INVESTMENTS - 110.2% (Cost - $981,650,269) | 1,021,548,396 | ||||||||||
Liabilities in Excess of Other Assets - (10.2)% | (94,462,357 | ) | |||||||||
NET ASSETS - 100.0% | $ | 927,086,039 |
Percentages are stated as a percent of net assets. | ||||
(a) All or a portion of this security is out on loan as of August 31, 2023. | ||||
(b) Rounds to less than 0.1% | ||||
(c) Each option is exercisable into 100 shares of the underlying security. | ||||
(d) Non-income producing security. | ||||
(e) Interest rate reflects the seven-day yield on August 31, 2023. |