Horizon Active Income Fund | |||||||||||
PORTFOLIO OF INVESTMENTS (Unaudited) | |||||||||||
August 31, 2023 | |||||||||||
Shares | Value | ||||||||||
INVESTMENT COMPANIES - 99.9% | |||||||||||
Exchange Traded Funds - 99.9% | |||||||||||
1,118,882 | First Trust TCW Opportunistic Fixed Income ETF (a)(f) | $ | 48,704,933 | ||||||||
597,156 | Hartford Total Return Bond ETF (a) | 19,700,176 | |||||||||
1,620 | iShares 7-10 Year Treasury Bond ETF | 153,576 | |||||||||
310,022 | iShares iBoxx Investment Grade Corporate Bond ETF | 32,911,936 | |||||||||
427,743 | iShares MBS ETF | 39,309,582 | |||||||||
124,603 | iShares TIPS Bond ETF (a) | 13,216,640 | |||||||||
1,403 | Janus Henderson AAA CLO ETF | 70,627 | |||||||||
107 | Janus Henderson B-BBB CLO ETF | 5,100 | |||||||||
437,636 | Janus Henderson Mortgage-Backed Securities ETF (a) | 19,662,986 | |||||||||
361,633 | PIMCO Active Bond Exchange-Traded Fund | 32,753,101 | |||||||||
2,165 | SPDR Blackstone / GSO Senior Loan ETF | 91,190 | |||||||||
908,182 | SPDR Doubleline Total Return Tactical ETF | 36,109,316 | |||||||||
1,588 | SPDR Portfolio Intermediate Term Corporate Bond ETF | 50,848 | |||||||||
456,340 | SPDR Portfolio Long Term Treasury ETF | 12,909,858 | |||||||||
446,817 | SPDR Portfolio Short Term Corporate Bond ETF (a) | 13,167,697 | |||||||||
1,188,376 | VanEck Fallen Angel High Yield Bond ETF | 32,965,550 | |||||||||
764,182 | Xtrackers USD High Yield Corporate Bond ETF (a) | 26,440,697 | |||||||||
TOTAL INVESTMENT COMPANIES (Cost - $344,599,695) | 328,223,813 | ||||||||||
Contracts | Notional Value | ||||||||||
PURCHASED OPTIONS - 0.1% (c)(d)(g) | |||||||||||
PURCHASED CALL OPTIONS - 0.1% | |||||||||||
iShares 20+ Year Treasury Bond ETF | |||||||||||
1,000 | Expiration: December 2023, Exercise Price: $101 | $ | 9,664,000 | 187,500 | |||||||
TOTAL PURCHASED OPTIONS (Cost - $187,325) | 187,500 | ||||||||||
Shares | |||||||||||
SHORT TERM INVESTMENTS - 0.0% (b) | |||||||||||
Money Market Funds - 0.0% | |||||||||||
67,576 | First American Treasury Obligations Fund, Class X, 5.26% (e) | 67,576 | |||||||||
TOTAL SHORT TERM INVESTMENTS (Cost - $67,576) | 67,576 | ||||||||||
INVESTMENTS PURCHASED WITH PROCEEDS FROM SECURITIES LENDING - 8.2% | |||||||||||
26,782,950 | First American Government Obligations Fund, Class X, 5.18% (e) | 26,782,950 | |||||||||
TOTAL INVESTMENTS PURCHASED WITH PROCEEDS FROM SECURITIES LENDING (Cost - $26,782,950) | 26,782,950 | ||||||||||
TOTAL INVESTMENTS - 108.2% (Cost - $371,637,546) | 355,261,839 | ||||||||||
Liabilities in Excess of Other Assets - (8.2)% | (26,823,617 | ) | |||||||||
NET ASSETS - 100.0% | $ | 328,438,222 | |||||||||
Contracts | Notional Value | Value | |||||||||
SCHEDULE OF WRITTEN CALL OPTIONS - 0.0% (b)(c)(d) | |||||||||||
1,000 | iShares 20+ Year Treasury Bond ETF | ||||||||||
Expiration: December 2023, Exercise Price $106 | $ | 9,664,000 | 80,500 | ||||||||
TOTAL WRITTEN CALL OPTIONS (Premiums Received $81,675) | 80,500 | ||||||||||
TOTAL OPTIONS WRITTEN (Premiums Received $81,675) | $ | 80,500 |
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. | ||||
(f) 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 $3,264,750, which is 1.0% of total net assets. | ||||
(g) Held in connection with a written option, see Schedule of Written Options for more details. |