Horizon Funds NPORT-P Horizon Equity Premium Income Fund (Aug 2024 report)

Horizon Equity Premium Income Fund
Schedule of Investments
August 31, 2024 (Unaudited)
COMMON STOCKS - 99.5%	Shares		Value
Banking - 5.2%
Bank of America Corp.		29,850	$	1,216,388
Citigroup, Inc.		8,360		523,670
JPMorgan Chase & Co. (c)		10,848		2,438,630
PNC Financial Services Group, Inc.		1,722		318,725
Truist Financial Corp.		5,976		265,693
US Bancorp		7,086		334,672
Wells Fargo & Co.		14,057		821,913
				5,919,691
Consumer Discretionary Products - 2.0%
DR Horton, Inc.		1,383		261,055
Ford Motor Co.		27,344		305,979
General Motors Co.		4,937		245,764
Lennar Corp., - Class A		1,392		253,428
Nike, Inc. - Class B		7,093		590,989
Tesla, Inc. (a)		2,875		615,566
				2,272,781
Consumer Discretionary Services - 2.1%
Las Vegas Sands Corp.		4,980		194,170
Marriott International, Inc. - Class A		1,182		277,404
McDonald's Corp.		3,475		1,003,094
Starbucks Corp.		6,511		615,745
Yum! Brands, Inc.		1,807		243,800
				2,334,213
Consumer Staple Products - 5.0%
Altria Group, Inc.		5,376		289,068
Coca-Cola Co.		16,303		1,181,478
Colgate-Palmolive Co.		1,139		121,303
Constellation Brands, Inc. - Class A		440		105,912
General Mills, Inc.		1,771		128,026
Hershey Co.		593		114,485
Keurig Dr Pepper, Inc.		3,431		125,609
Kimberly-Clark Corp.		787		113,847
Kraft Heinz Co.		3,451		122,269
Mondelez International, Inc. - Class A		2,933		210,619
PepsiCo, Inc.		5,209		900,532
Philip Morris International, Inc.		6,445		794,604
Procter & Gamble Co.		8,430		1,446,082
				5,653,834
Financial Services - 5.8%
American Express Co.		1,795		464,277
Ameriprise Financial, Inc.		248		111,461
Bank of New York Mellon Corp.		2,402		163,864
BlackRock, Inc.		557		502,308
Blackstone, Inc.		2,550		363,018
Capital One Financial Corp.		936		137,527
Charles Schwab Corp.		4,888		318,209
CME Group, Inc.		1,704		367,621
Goldman Sachs Group, Inc.		1,206		615,362
Intercontinental Exchange, Inc.		1,357		219,223
KKR & Co., Inc.		1,272		157,435
MasterCard, Inc. - Class A		1,641		793,161
Moody's Corp.		301		146,810
Morgan Stanley		7,173		743,195
S&P Global, Inc.		581		298,192
Visa, Inc. - Class A		4,308		1,190,602
				6,592,265
Health Care - 12.4%
Abbott Laboratories		1,403		158,918
AbbVie, Inc.		8,539		1,676,291
Amgen, Inc.		2,251		751,451
Becton Dickinson & Co.		879		213,078
Boston Scientific Corp. (a)		1,848		151,148
Bristol-Myers Squibb Co.		10,829		540,909
Cigna Group		935		338,292
CVS Health Corp.		6,266		358,666
Danaher Corp.		544		146,505
Elevance Health, Inc.		647		360,308
Eli Lilly & Co. (c)		1,653		1,586,913
Gilead Sciences, Inc.		6,120		483,480
HCA Healthcare, Inc.		557		220,344
Humana, Inc.		287		101,733
Intuitive Surgical, Inc. (a)		506		249,271
Johnson & Johnson		11,210		1,859,291
McKesson Corp.		211		118,388
Medtronic PLC		6,033		534,403
Merck & Co., Inc.		10,122		1,198,951
Pfizer, Inc.		3,853		111,775
Regeneron Pharmaceuticals, Inc. (a)		112		132,685
Stryker Corp.		933		336,272
Thermo Fisher Scientific, Inc.		610		375,193
UnitedHealth Group, Inc.		2,916		1,721,023
Vertex Pharmaceuticals, Inc. (a)		296		146,783
Zoetis, Inc.		1,123		206,059
				14,078,130
Industrial Products - 5.8%
3M Co.		2,235		301,032
Amphenol Corp. - Class A		5,379		362,814
Carrier Global Corp.		2,331		169,650
Caterpillar, Inc.		1,458		519,194
Deere & Co.		849		327,493
Eaton Corp. PLC		1,049		321,970
Emerson Electric Co.		1,830		192,864
General Dynamics Corp.		934		279,602
General Electric Co.		2,303		402,150
Honeywell International, Inc.		2,339		486,302
Illinois Tool Works, Inc.		1,084		274,447
Johnson Controls International PLC		2,366		172,363
L3Harris Technologies, Inc.		666		157,622
Lockheed Martin Corp.		1,003		569,804
Northrop Grumman Corp.		488		255,326
Otis Worldwide Corp.		1,221		115,617
PACCAR, Inc.		2,568		246,990
Parker-Hannifin Corp.		330		198,066
RTX Corp.		5,359		660,979
TE Connectivity, Ltd.		2,342		359,731
Trane Technologies PLC		549		198,551
				6,572,567
Industrial Services - 2.5%
Automatic Data Processing, Inc.		1,529		421,867
Cintas Corp.		203		163,439
CSX Corp.		5,508		188,759
FedEx Corp.		804		240,211
Paychex, Inc.		1,579		207,165
Republic Services, Inc.		777		161,779
Union Pacific Corp.		2,282		584,397
United Parcel Service, Inc. - Class B		4,182		537,596
United Rentals, Inc.		158		117,119
Waste Management, Inc.		1,138		241,302
				2,863,634
Insurance - 3.1%
Aflac, Inc.		1,669		184,191
Allstate Corp.		741		140,005
American International Group, Inc.		1,867		143,852
Aon PLC - Class A		372		127,864
Arthur J Gallagher & Co.		408		119,369
Berkshire Hathaway, Inc. - Class B (a)		3,096		1,473,448
Chubb Ltd.		1,070		304,073
Marsh & McLennan Cos., Inc.		1,273		289,620
MetLife, Inc.		2,554		197,884
Progressive Corp.		720		181,584
Prudential Financial, Inc.		1,432		173,501
Travelers Cos., Inc.		576		131,368
				3,466,759
Materials - 1.9%
Air Products & Chemicals, Inc.		900		250,965
DuPont de Nemours, Inc.		1,380		116,265
Ecolab, Inc.		682		172,669
Freeport-McMoRan, Inc.		3,751		166,094
Linde PLC		1,369		654,724
LyondellBasell Industries NV - Class A		1,632		161,078
Newmont Goldcorp Corp.		3,972		212,065
Nucor Corp.		673		102,235
PPG Industries, Inc.		846		109,752
Sherwin-Williams Co.		556		205,370
				2,151,217
Media - 8.0%
Airbnb, Inc. - Class A (a)		1,593		186,875
Alphabet, Inc. - Class A (c)		22,298		3,643,047
Booking Holdings, Inc.		102		398,742
Comcast Corp. - Class A		23,497		929,776
Meta Platforms, Inc. - Class A (c)		4,793		2,498,639
Netflix, Inc. (a)		941		659,970
Uber Technologies, Inc. (a)		3,125		228,531
Walt Disney Co.		5,872		530,712
				9,076,292
Oil & Gas - 3.8%
Chevron Corp.		7,014		1,037,721
ConocoPhillips		2,551		290,278
EOG Resources, Inc.		850		109,497
Exxon Mobil Corp.		17,887		2,109,593
Marathon Petroleum Corp.		665		117,785
Occidental Petroleum Corp.		1,804		102,792
ONEOK, Inc.		1,303		120,345
Phillips 66		800		112,248
Schlumberger, Ltd.		2,342		103,024
Valero Energy Corp.		753		110,488
Williams Cos., Inc.		2,596		118,819
				4,332,590
Retail & Wholesale - Discretionary - 5.1%
Amazon.com, Inc. (a) (c)		15,901		2,838,328
Home Depot, Inc.		4,335		1,597,447
Lowe's Cos., Inc.		2,391		594,164
Ross Stores, Inc.		1,569		236,307
TJX Cos., Inc.		4,306		504,965
				5,771,211
Retail & Wholesale - Staples - 2.3%
Archer-Daniels-Midland Co.		1,751		106,793
Costco Wholesale Corp.		591		527,397
Kroger Co.		2,126		113,124
Sysco Corp.		1,543		120,308
Target Corp.		806		123,818
Walmart, Inc. (c)		19,967		1,542,051
				2,533,491
Software & Tech Services - 11.3%
Accenture PLC - Class A		2,617		894,883
Adobe, Inc. (a)		1,006		577,856
International Business Machines Corp.		5,553		1,122,428
Intuit, Inc.		818		515,553
Microsoft Corp. (c)		15,834		6,604,995
Oracle Corp.		8,763		1,238,124
Palo Alto Networks, Inc. (a)		977		354,377
Roper Technologies, Inc.		577		319,895
Salesforce, Inc.		2,715		686,624
ServiceNow, Inc. (a)		521		445,455
				12,760,190
Tech Hardware & Semiconductors - 18.4%
Advanced Micro Devices, Inc. (a)		2,514		373,480
Analog Devices, Inc.		2,435		571,835
Apple, Inc. (c)		26,670		6,107,430
Applied Materials, Inc.		2,529		498,870
Arista Networks, Inc. (a)		1,036		366,102
Broadcom, Inc. (c)		14,720		2,396,710
Cisco Systems, Inc.		23,476		1,186,477
Corning, Inc.		8,025		335,846
Garmin, Ltd.		1,246		228,379
Hewlett Packard Enterprise Co.		15,674		303,605
HP, Inc.		9,967		360,606
KLA Corp.		527		431,840
Lam Research Corp.		479		393,264
Micron Technology, Inc.		3,411		328,275
Motorola Solutions, Inc.		965		426,569
NVIDIA Corp. (c)		38,991		4,654,356
QUALCOMM, Inc.		4,636		812,691
Texas Instruments, Inc.		4,805		1,029,904
				20,806,239
Telecommunications - 1.9%
T-Mobile US, Inc.		4,946		982,869
Verizon Communications, Inc.		28,512		1,191,231
				2,174,100
Utilities - 2.9%
American Electric Power Co., Inc.		2,470		247,691
Consolidated Edison, Inc.		1,470		149,293
Constellation Energy Corp.		568		111,726
Dominion Energy, Inc.		4,141		231,482
Duke Energy Corp.		3,616		412,043
Edison International		1,665		144,905
Exelon Corp.		4,796		182,680
NextEra Energy, Inc.		8,974		722,497
Public Service Enterprise Group, Inc.		2,076		167,637
Sempra		2,623		215,558
Southern Co.		5,048		436,147
WEC Energy Group, Inc.		1,396		129,870
Xcel Energy, Inc.		2,512		153,810
				3,305,339
TOTAL COMMON STOCKS (Cost $87,327,865)				112,664,543
SHORT-TERM INVESTMENTS - 0.6%	Shares		Value
Money Market Funds - 0.6%
First American Treasury Obligations Fund - Class X, 5.14% (b)		716,250		716,250
TOTAL SHORT-TERM INVESTMENTS (Cost $716,250)				716,250
TOTAL INVESTMENTS - 100.1% (Cost $88,044,115)				113,380,793
Liabilities in Excess of Other Assets - (0.1)%				(67,483	)
TOTAL NET ASSETS - 100.0%			$	113,313,310
Percentages are stated as a percent of net assets.

NV - Naamloze Vennootschap

PLC - Public Limited Company

(a)	Non-income producing security.
(b) (c)	The rate shown represents the 7-day annualized effective yield as of August 31, 2024. 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 $25,179,472, which is 22.22% of total net assets.

Horizon Equity Premium Income Fund
Schedule of Written Options
August 31, 2024 (Unaudited)
WRITTEN OPTIONS - (0.2)% (a)(b)	Notional Amount			Contracts			Value
Call Options - (0.2)%
S&P 500 Index, Expiration: 09/05/2024; Exercise Price: $5,670.00	$	(76,253,400	)		(135	)	$	(184,950	)
TOTAL WRITTEN OPTIONS (Premiums received $112,397)								(184,950	)
Percentages are stated as a percent of net assets.

(a)	100 shares per contract.
(b)	Exchange-traded.

Summary of Fair Value Disclosure as of August 31, 2024 (Unaudited)

Horizon Equity Premium Income Fund has adopted authoritative fair value accounting standards which establish an authoritative definition of fair value and set out a hierarchy for measuring fair value. These standards require additional disclosures about the various inputs and valuation techniques used to develop the measurements of fair value, a discussion of changes in valuation techniques and related inputs during the period, and expanded disclosure of valuation levels for major security types. These inputs are summarized in the three broad levels listed below. The inputs or methodology used for valuing securities are not an indication of the risk associated with investing in those securities.

Level 1 - Unadjusted quoted prices in active markets for identical assets or liabilities that the Fund has the ability to access.

Level 2 - Observable inputs other than quoted prices included in Level 1 that are observable for the asset or liability, either directly or indirectly. These inputs may include quoted prices for the identical instrument on an inactive market, prices for similar instruments, interest rates, prepayment speeds, credit risk, yield curves, default rates and similar data.

Level 3 - Unobservable inputs for the asset or liability, to the extent relevant observable inputs are not available, representing the Fund’s own assumptions about the assumptions a market participant would use in valuing the asset or liability, and would be based on the best information available.

The following is a summary of the fair valuation hierarchy of the Fund’s securities as of August 31, 2024:

	Level 1		Level 2			Level 3		Total
Assets:
Investments:
Common Stocks	$	112,664,543	$	–		$	–	$	112,664,543
Money Market Funds		716,250		–			–		716,250
Total Investments	$	113,380,793	$	–		$	–	$	113,380,793
Liabilities:
Investments:
Written Options		–		(184,950	)		–		(184,950	)
Total Investments	$	–	$	(184,950	)	$	–	$	(184,950	)
Refer to the Schedule of Investments for further disaggregation of investment categories.