# EDGAR Filing Document

**Accession Number:** 0001643174
**File Stem:** 0000894189-26-013890
**Filing Date:** 2026-4
**Character Count:** 49930
**Document Hash:** 672545358ded0da7730d89a0ae5adfce
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000894189-26-013890.hdr.sgml**: 20260429

**ACCESSION NUMBER**: 0000894189-26-013890

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20260228

**FILED AS OF DATE**: 20260429

**DATE AS OF CHANGE**: 20260429

**PERIOD START**: 20261130

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Horizon Funds
- **CENTRAL INDEX KEY:** 0001643174

**ORGANIZATION NAME:**
- **EIN:** 000000000
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1130

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-23063
- **FILM NUMBER:** 26915972

**BUSINESS ADDRESS:**
- **STREET 1:** 6210 ARDREY KELL ROAD
- **STREET 2:** SUITE 300
- **CITY:** CHARLOTTE
- **STATE:** NC
- **ZIP:** 28277
- **BUSINESS PHONE:** 704-544-2399

**MAIL ADDRESS:**
- **STREET 1:** 6210 ARDREY KELL ROAD
- **STREET 2:** SUITE 300
- **CITY:** CHARLOTTE
- **STATE:** NC
- **ZIP:** 28277

## Series and Classes Contracts Data

### Horizon Active Asset Allocation Fund (Series ID: S000050381)

| Class ID   | Class Name          | Ticker Symbol   |
|:---|:---|:---|
| C000159077 | Advisor Class       | HASAX           |
| C000159078 | Institutional Class | HASIX           |
| C000159079 | Investor Class      | AAANX           |

## Nport-Ex

---

| | | | |
|:---|:---|:---|:---|
| **Horizon Active Asset Allocation Fund** | **Horizon Active Asset Allocation Fund** | **Horizon Active Asset Allocation Fund** | **Horizon Active Asset Allocation Fund** |
| **Schedule of Investments** | **Schedule of Investments** | **Schedule of Investments** | **Schedule of Investments** |
| **February 28, 2026 (Unaudited)** | **February 28, 2026 (Unaudited)** | **February 28, 2026 (Unaudited)** | **February 28, 2026 (Unaudited)** |
| **EXCHANGE TRADED FUNDS - 85.5%** | **EXCHANGE TRADED FUNDS - 85.5%** | **Shares**  | **Value**  |
| Avantis International Small Cap Value ETF | Avantis International Small Cap Value ETF | 529520 | $58294857 |
| Goldman Sachs Equal Weight US Large Cap Equity ETF <sup>(a)</sup> | Goldman Sachs Equal Weight US Large Cap Equity ETF <sup>(a)</sup> | 156942 | 14085544 |
| Invesco KBW Bank ETF <sup>(a)</sup> | Invesco KBW Bank ETF <sup>(a)</sup> | 341491 | 27954453 |
| Invesco S&P 500 Equal Weight ETF | Invesco S&P 500 Equal Weight ETF | 168476 | 34532526 |
| iShares Core Dividend Growth ETF <sup>(a)</sup> | iShares Core Dividend Growth ETF <sup>(a)</sup> | 686965 | 50752974 |
| iShares Core MSCI Emerging Markets ETF | iShares Core MSCI Emerging Markets ETF | 824597 | 63296066 |
| iShares Core MSCI International Developed Markets ETF | iShares Core MSCI International Developed Markets ETF | 1407818 | 127576467 |
| iShares MSCI Japan ETF | iShares MSCI Japan ETF | 245318 | 22660024 |
| JPMorgan BetaBuilders Europe ETF <sup>(a)</sup> | JPMorgan BetaBuilders Europe ETF <sup>(a)</sup> | 287862 | 22772763 |
| SPDR Portfolio Emerging Markets ETF | SPDR Portfolio Emerging Markets ETF | 579204 | 29255594 |
| State Street Communication Services Select Sector SPDR ETF | State Street Communication Services Select Sector SPDR ETF | 172765 | 20394908 |
| State Street SPDR Portfolio S&P 500 Growth ETF <sup>(b)</sup> | State Street SPDR Portfolio S&P 500 Growth ETF <sup>(b)</sup> | 1287688 | 133365846 |
| State Street SPDR S&P Regional Banking ETF <sup>(a)</sup> | State Street SPDR S&P Regional Banking ETF <sup>(a)</sup> | 303126 | 20239723 |
| **TOTAL EXCHANGE TRADED FUNDS** (Cost $506,763,292) | **TOTAL EXCHANGE TRADED FUNDS** (Cost $506,763,292) | **TOTAL EXCHANGE TRADED FUNDS** (Cost $506,763,292) | 625181745 |
| **COMMON STOCKS - 14.4%** | **COMMON STOCKS - 14.4%** | **Shares**  | **Value**  |
| **Aerospace & Defense - 0.1%** | **Aerospace & Defense - 0.1%** | **Aerospace & Defense - 0.1%** |  |
| AeroVironment, Inc. <sup>(c)</sup> | AeroVironment, Inc. <sup>(c)</sup> | 2334 | 588752 |
| **Automobiles - 0.6%** | **Automobiles - 0.6%** | **Automobiles - 0.6%** |  |
| BYD Co. Ltd. - ADR | BYD Co. Ltd. - ADR | 51483 | 618311 |
| Tesla, Inc. <sup>(c)</sup> | Tesla, Inc. <sup>(c)</sup> | 8702 | 3502642 |
|  |  |  | 4120953 |
| **Banks - 0.2%** | **Banks - 0.2%** | **Banks - 0.2%** |  |
| JPMorgan Chase & Co. | JPMorgan Chase & Co. | 5338 | 1603001 |
| **Broadline Retail - 1.4%** | **Broadline Retail - 1.4%** | **Broadline Retail - 1.4%** |  |
| Alibaba Group Holding Ltd. - ADR | Alibaba Group Holding Ltd. - ADR | 5958 | 858607 |
| Amazon.com, Inc. <sup>(c)</sup> | Amazon.com, Inc. <sup>(c)</sup> | 43660 | 9168600 |
|  |  |  | 10027207 |
| **Communications Equipment - 0.1%** | **Communications Equipment - 0.1%** | **Communications Equipment - 0.1%** |  |
| Arista Networks, Inc. <sup>(c)</sup> | Arista Networks, Inc. <sup>(c)</sup> | 5011 | 668968 |
| **Consumer Staples Distribution & Retail - 0.4%** | **Consumer Staples Distribution & Retail - 0.4%** | **Consumer Staples Distribution & Retail - 0.4%** |  |
| Costco Wholesale Corp. | Costco Wholesale Corp. | 1143 | 1155333 |
| Walmart, Inc. | Walmart, Inc. | 15676 | 2005744 |
|  |  |  | 3161077 |
| **Diversified Telecommunication Services - 0.1%** | **Diversified Telecommunication Services - 0.1%** | **Diversified Telecommunication Services - 0.1%** |  |
| Deutsche Telekom AG - ADR <sup>(a)</sup> | Deutsche Telekom AG - ADR <sup>(a)</sup> | 16829 | 677872 |
| **Electric Utilities - 0.1%** | **Electric Utilities - 0.1%** | **Electric Utilities - 0.1%** |  |
| Constellation Energy Corp. | Constellation Energy Corp. | 2275 | 750477 |
| Oklo, Inc. <sup>(c)</sup> | Oklo, Inc. <sup>(c)</sup> | 1645 | 103553 |
|  |  |  | 854030 |
| **Electrical Equipment - 0.6%** | **Electrical Equipment - 0.6%** | **Electrical Equipment - 0.6%** |  |
| ABB Ltd. - ADR | ABB Ltd. - ADR | 8497 | 788437 |
| Bloom Energy Corp. - Class A <sup>(c)</sup> | Bloom Energy Corp. - Class A <sup>(c)</sup> | 1173 | 182601 |
| Eaton Corp. PLC | Eaton Corp. PLC | 2090 | 785673 |
| GE Vernova, Inc. | GE Vernova, Inc. | 1079 | 942614 |
| Schneider Electric SE - ADR | Schneider Electric SE - ADR | 11253 | 733808 |
| Siemens Energy AG - ADR | Siemens Energy AG - ADR | 4661 | 908242 |
|  |  |  | 4341375 |
| **Electronic Equipment, Instruments & Components - 0.2%** | **Electronic Equipment, Instruments & Components - 0.2%** | **Electronic Equipment, Instruments & Components - 0.2%** |  |
| Amphenol Corp. - Class A | Amphenol Corp. - Class A | 4015 | 586431 |
| Corning, Inc. | Corning, Inc. | 6980 | 1049652 |
|  |  |  | 1636083 |
| **Energy - 0.1%** | **Energy - 0.1%** | **Energy - 0.1%** |  |
| Williams Cos., Inc. | Williams Cos., Inc. | 6928 | 517660 |
| **Entertainment - 0.2%** | **Entertainment - 0.2%** | **Entertainment - 0.2%** |  |
| Netflix, Inc. <sup>(c)</sup> | Netflix, Inc. <sup>(c)</sup> | 6564 | 631719 |
| Spotify Technology SA <sup>(c)</sup> | Spotify Technology SA <sup>(c)</sup> | 1060 | 545837 |
|  |  |  | 1177556 |
| **Financial Services - 0.2%** | **Financial Services - 0.2%** | **Financial Services - 0.2%** |  |
| Berkshire Hathaway, Inc. - Class B <sup>(c)</sup> | Berkshire Hathaway, Inc. - Class B <sup>(c)</sup> | 1027 | 518584 |
| MasterCard, Inc. - Class A | MasterCard, Inc. - Class A | 929 | 480488 |
| Visa, Inc. - Class A | Visa, Inc. - Class A | 1764 | 564727 |
|  |  |  | 1563799 |
| **Ground Transportation - 0.1%** | **Ground Transportation - 0.1%** | **Ground Transportation - 0.1%** |  |
| Uber Technologies, Inc. <sup>(c)</sup> | Uber Technologies, Inc. <sup>(c)</sup> | 8093 | 610374 |
| **Health Care Equipment & Supplies - 0.1%** | **Health Care Equipment & Supplies - 0.1%** | **Health Care Equipment & Supplies - 0.1%** |  |
| Intuitive Surgical, Inc. <sup>(c)</sup> | Intuitive Surgical, Inc. <sup>(c)</sup> | 1871 | 942067 |
| **Industrial Conglomerates - 0.3%** | **Industrial Conglomerates - 0.3%** | **Industrial Conglomerates - 0.3%** |  |
| Hitachi Ltd. - ADR | Hitachi Ltd. - ADR | 21240 | 708779 |
| Siemens AG - ADR | Siemens AG - ADR | 7824 | 1139096 |
|  |  |  | 1847875 |
| **Interactive Media & Services - 1.9%** | **Interactive Media & Services - 1.9%** | **Interactive Media & Services - 1.9%** |  |
| Alphabet, Inc. - Class A | Alphabet, Inc. - Class A | 35049 | 10926876 |
| Meta Platforms, Inc. - Class A | Meta Platforms, Inc. - Class A | 3064 | 1986024 |
| Tencent Holdings Ltd. - ADR | Tencent Holdings Ltd. - ADR | 15280 | 1003896 |
|  |  |  | 13916796 |
| **IT Services - 0.1%** | **IT Services - 0.1%** | **IT Services - 0.1%** |  |
| Cognizant Technology Solutions Corp. - Class A | Cognizant Technology Solutions Corp. - Class A | 6367 | 410226 |
| Shopify, Inc. - Class A <sup>(c)</sup> | Shopify, Inc. - Class A <sup>(c)</sup> | 3875 | 467829 |
|  |  |  | 878055 |
| **Machinery - 0.1%** | **Machinery - 0.1%** | **Machinery - 0.1%** |  |
| Caterpillar, Inc. | Caterpillar, Inc. | 1323 | 982764 |
| **Metals & Mining - 0.3%** | **Metals & Mining - 0.3%** | **Metals & Mining - 0.3%** |  |
| Agnico Eagle Mines Ltd. | Agnico Eagle Mines Ltd. | 2252 | 566603 |
| Anglo American PLC - ADR <sup>(a)</sup> | Anglo American PLC - ADR <sup>(a)</sup> | 20865 | 521625 |
| Southern Copper Corp. | Southern Copper Corp. | 4658 | 1016899 |
|  |  |  | 2105127 |
| **Oil, Gas & Consumable Fuels - 0.1%** | **Oil, Gas & Consumable Fuels - 0.1%** | **Oil, Gas & Consumable Fuels - 0.1%** |  |
| Exxon Mobil Corp. | Exxon Mobil Corp. | 4414 | 673135 |
| **Pharmaceuticals - 0.4%** | **Pharmaceuticals - 0.4%** | **Pharmaceuticals - 0.4%** |  |
| Eli Lilly & Co. | Eli Lilly & Co. | 2443 | 2570012 |
| Johnson & Johnson | Johnson & Johnson | 2657 | 660078 |
|  |  |  | 3230090 |
| **Semiconductors & Semiconductor Equipment - 3.6%** | **Semiconductors & Semiconductor Equipment - 3.6%** | **Semiconductors & Semiconductor Equipment - 3.6%** |  |
| Advanced Micro Devices, Inc. <sup>(c)</sup> | Advanced Micro Devices, Inc. <sup>(c)</sup> | 3187 | 638069 |
| Applied Materials, Inc. | Applied Materials, Inc. | 2407 | 896126 |
| ARM Holdings PLC - ADR <sup>(c)</sup> | ARM Holdings PLC - ADR <sup>(c)</sup> | 5377 | 685299 |
| ASML Holding NV | ASML Holding NV | 518 | 751390 |
| Broadcom, Inc. | Broadcom, Inc. | 9831 | 3141496 |
| First Solar, Inc. <sup>(c)</sup> | First Solar, Inc. <sup>(c)</sup> | 1156 | 227963 |
| Intel Corp. <sup>(c)</sup> | Intel Corp. <sup>(c)</sup> | 16954 | 773272 |
| KLA Corp. | KLA Corp. | 487 | 742456 |
| Lam Research Corp. | Lam Research Corp. | 3592 | 840133 |
| Marvell Technology, Inc. | Marvell Technology, Inc. | 7137 | 583022 |
| Micron Technology, Inc. | Micron Technology, Inc. | 3943 | 1625975 |
| NVIDIA Corp. | NVIDIA Corp. | 69737 | 12356699 |
| QUALCOMM, Inc. | QUALCOMM, Inc. | 3504 | 498829 |
| Taiwan Semiconductor Manufacturing Co. Ltd. - ADR | Taiwan Semiconductor Manufacturing Co. Ltd. - ADR | 3702 | 1386695 |
| Tokyo Electron Ltd. - ADR | Tokyo Electron Ltd. - ADR | 6003 | 848644 |
|  |  |  | 25996068 |
| **Software - 2.0%** | **Software - 2.0%** | **Software - 2.0%** |  |
| Cadence Design Systems, Inc. <sup>(c)</sup> | Cadence Design Systems, Inc. <sup>(c)</sup> | 1855 | 559097 |
| Microsoft Corp. | Microsoft Corp. | 25856 | 10154685 |
| Nebius Group NV <sup>(c)</sup> | Nebius Group NV <sup>(c)</sup> | 4320 | 393941 |
| Oracle Corp. | Oracle Corp. | 8754 | 1272832 |
| Palantir Technologies, Inc. - Class A <sup>(c)</sup> | Palantir Technologies, Inc. - Class A <sup>(c)</sup> | 11853 | 1626113 |
| Salesforce, Inc. | Salesforce, Inc. | 2190 | 426590 |
| ServiceNow, Inc. <sup>(c)</sup> | ServiceNow, Inc. <sup>(c)</sup> | 4207 | 454398 |
|  |  |  | 14887656 |
| **Specialty Retail - 0.0% <sup>(d)</sup>** | **Specialty Retail - 0.0% <sup>(d)</sup>** | **Specialty Retail - 0.0% <sup>(d)</sup>** |  |
| Home Depot, Inc. | Home Depot, Inc. | 771 | 293535 |
| **Technology Hardware, Storage & Peripherals - 1.1%** | **Technology Hardware, Storage & Peripherals - 1.1%** | **Technology Hardware, Storage & Peripherals - 1.1%** |  |
| Apple, Inc. | Apple, Inc. | 31159 | 8231585 |
| **TOTAL COMMON STOCKS** (Cost $100,945,053) | **TOTAL COMMON STOCKS** (Cost $100,945,053) | **TOTAL COMMON STOCKS** (Cost $100,945,053) | 105533460 |
| **PURCHASED OPTIONS - 0.0% <sup>(c)(d)</sup>** | **Notional Amount**  | **Contracts**  | **Value**  |
| **Put Options - 0.0% <sup>(d)</sup>** | **Put Options - 0.0% <sup>(d)</sup>** |  |  |
|  State Street Consumer Staples Select Sector SPDR ETF, Expiration: 03/20/2026; Exercise Price: $84.00 <sup>(e)(f)</sup> | 45005000 | 5000 | 107500 |
| **TOTAL PURCHASED OPTIONS** (Cost $497,118) | **TOTAL PURCHASED OPTIONS** (Cost $497,118) | **TOTAL PURCHASED OPTIONS** (Cost $497,118) | 107500 |
| **SHORT-TERM INVESTMENTS** | **SHORT-TERM INVESTMENTS** | **SHORT-TERM INVESTMENTS** | **SHORT-TERM INVESTMENTS** |
| **INVESTMENTS PURCHASED WITH PROCEEDS FROM SECURITIES LENDING - 5.7%** | **INVESTMENTS PURCHASED WITH PROCEEDS FROM SECURITIES LENDING - 5.7%** | **Shares**  | **Value**  |
| First American Government Obligations Fund - Class X, 3.60% <sup>(g)</sup> | First American Government Obligations Fund - Class X, 3.60% <sup>(g)</sup> | 41930167 | 41930167 |
| **TOTAL INVESTMENTS PURCHASED WITH PROCEEDS FROM SECURITIES LENDING** (Cost $41,930,167) | **TOTAL INVESTMENTS PURCHASED WITH PROCEEDS FROM SECURITIES LENDING** (Cost $41,930,167) | **TOTAL INVESTMENTS PURCHASED WITH PROCEEDS FROM SECURITIES LENDING** (Cost $41,930,167) | 41930167 |
| **MONEY MARKET FUNDS - 0.2%** | **MONEY MARKET FUNDS - 0.2%** | **Shares**  | **Value**  |
| First American Government Obligations Fund - Class X, 3.60% <sup>(g)</sup> | First American Government Obligations Fund - Class X, 3.60% <sup>(g)</sup> | 1319593 | 1319593 |
| **TOTAL MONEY MARKET FUNDS** (Cost $1,319,593) | **TOTAL MONEY MARKET FUNDS** (Cost $1,319,593) | **TOTAL MONEY MARKET FUNDS** (Cost $1,319,593) | 1319593 |
| **TOTAL INVESTMENTS - 105.8% (**Cost $651,455,223**)** | **TOTAL INVESTMENTS - 105.8% (**Cost $651,455,223**)** | **TOTAL INVESTMENTS - 105.8% (**Cost $651,455,223**)** | 774072465 |
| Liabilities in Excess of Other Assets - (5.8)% | Liabilities in Excess of Other Assets - (5.8)% | Liabilities in Excess of Other Assets - (5.8)% | (42404009) |
| **TOTAL NET ASSETS - 100.0%** |  |  | $731668456 |
| Percentages are stated as a percent of net assets. | Percentages are stated as a percent of net assets. | Percentages are stated as a percent of net assets. |  |

---

---

| |
|:---|
| ADR - American Depositary Receipt |
| PLC - Public Limited Company |
| The Global Industry Classification Standard ("GICS<sup>®</sup>") was developed by and/or is the exclusive property of MSCI, Inc. ("MSCI") and Standard & Poor's Financial Services LLC ("S&P"). GICS<sup>®</sup> is a service mark of MSCI and S&P and has been licensed for use by U.S. Bank Global Fund Services. |

---

(a) All or a portion of this security is on loan as of February 28, 2026. The fair value of these securities was $39,195,115.

(b) All or a portion of the security has been pledged as collateral for written options.

(c) Non-income producing security.

(d) Represents less than 0.05% of net assets.

(e) Exchange-traded.

(f) 100 shares per contract.

(g) The rate shown represents the 7-day annualized yield as of February 28, 2026. <br>

---

| | | | |
|:---|:---|:---|:---|
| **Horizon Active Asset Allocation Fund** | **Horizon Active Asset Allocation Fund** | **Horizon Active Asset Allocation Fund** | **Horizon Active Asset Allocation Fund** |
| **Schedule of Written Options** | **Schedule of Written Options** | **Schedule of Written Options** | **Schedule of Written Options** |
| **February 28, 2026 (Unaudited)** | **February 28, 2026 (Unaudited)** | **February 28, 2026 (Unaudited)** | **February 28, 2026 (Unaudited)** |
| **WRITTEN OPTIONS - (0.0)%** | **Notional Amount** | **Contracts** | **Value** |
| **Put Options - (0.0)% <sup>(a)</sup>** | **Put Options - (0.0)% <sup>(a)</sup>** | **Put Options - (0.0)% <sup>(a)</sup>** | **Put Options - (0.0)% <sup>(a)</sup>** |
| State Street Consumer Staples Select Sector SPDR ETF, Expiration: 03/20/2026; Exercise Price: $78.00 <sup>(b)(c)</sup> | $(45005000) | (5000) | $(25000) |
| **TOTAL WRITTEN OPTIONS** (Premiums received $117,882) |  |  | $(25000) |
| Percentages are stated as a percent of net assets. | Percentages are stated as a percent of net assets. | Percentages are stated as a percent of net assets. | Percentages are stated as a percent of net assets. |

---

(a) Represents less than 0.05% of net assets.

(b) Exchange-traded.

(c) 100 shares per contract.

------

#### Summary of Fair Value Disclosure as of February 28, 2026 (Unaudited)
Horizon Active Asset Allocation Fund (the "Fund") has adopted fair value accounting standards which establish a 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 valuation 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 based on the best information available.

The following is a summary of the fair valuation hierarchy of the Fund's securities as of February 28, 2026:

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **<u>Level 1</u>** | **<u>Level 2</u>** | **<u>Level 3</u>** | **<u>Total</u>** |
| **Assets:** | | | | |
| <u>Investments:</u> |  |  |  |  |
|  &nbsp;&nbsp;&nbsp;&nbsp;Exchange Traded Funds | $625181745 | $– | $– | $625181745 |
|  &nbsp;&nbsp;&nbsp;&nbsp;Common Stocks | 105533460 | – | – | 105533460 |
|  &nbsp;&nbsp;&nbsp;&nbsp;Purchased Options | – | 107500 | – | 107500 |
|  &nbsp;&nbsp;&nbsp;&nbsp;Investments Purchased with Proceeds from Securities Lending | 41930167 | – | – | 41930167 |
|  &nbsp;&nbsp;&nbsp;&nbsp;Money Market Funds | 1319593 | – | – | 1319593 |
| Total Investments | $773964965 | $107500 | $– | $774072465 |
| **Liabilities:** |  |  |  |  |
| <u>Investments:</u> |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Written Options | $– | $(25000) | $– | $(25000) |
| Total Investments | $– | $(25000) | $– | $(25000) |
| Refer to the Schedule of Investments for further disaggregation of investment categories. | Refer to the Schedule of Investments for further disaggregation of investment categories. | Refer to the Schedule of Investments for further disaggregation of investment categories. | Refer to the Schedule of Investments for further disaggregation of investment categories. | Refer to the Schedule of Investments for further disaggregation of investment categories. |

---

## Form NPORT-P: Monthly Portfolio Investments Report

### NPORT-P: Part A: General Information

**Item A.1. Information about the Registrant.**

- **a. Name of Registrant:** Horizon Funds

- **b. Investment Company Act file number:** 811-23063

- **c. CIK number of Registrant:** 0001643174

- **d. LEI of Registrant:** 549300Q2NFSH0QP87Y93

- **e. Address and telephone number of Registrant.**

  - **Street Address 1:** 6210 Ardrey Kell Road

  - **City:** Charlotte

  - **State:** NC

  - **Foreign country:** US

  - **Zip / Postal Code:** 28277

  - **Telephone number:** 866-371-2399

**Item A.2. Information about the Series.**

- **a. Name of Series:** Horizon Active Asset Allocation Fund

- **b. EDGAR series identifier (if any):** S000050381

- **c. LEI of Series:** 5493003D732NMZS9ZU43

**Item A.3. Reporting period.**

- **a. Date of fiscal year-end:** 2026-11-30

- **b. Date as of which information is reported:** 2026-02-28

**Item A.4. Final filing**

Does the Fund anticipate that this will be its final filing on Form N-PORT? **No**

### Fund Information

**Total Assets:** $774207428.80

**Total Liabilities:** $42834450.64

**Net Assets:** $731372978.16

**Cash Not Reported:** $703483.54

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000159077 | 1.16%                | 3.19%                | 1.25%                |
| Class ID C000159078 | 1.17%                | 3.30%                | 1.24%                |
| Class ID C000159079 | 1.20%                | 3.25%                | 1.24%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $4529562.33              | $-2012917.00                               |
| Month 2  | $7961525.80              | $16587710.64                               |
| Month 3  | $1340845.73              | $8492641.69                                |

### Schedule of Portfolio Investments

| Name                           | Title                                                      | Identifiers                                   | Payoff Profile   | Asset Category   | Issuer Category   | Country   |   Balance | Units   | Value (USD)   | % of Net Assets   | Maturity Date   | Coupon Type   | Annualized Rate (%)   | Restricted?   |   Fair Value Level | Lending Status   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| Palantir Technologies Inc      | Palantir Technologies Inc                                  | CUSIP: 69608A108<br>LEI: 549300UVN46B3BBDHO85 | Long             | EC               | CORP              | US        |     11853 | NS      | $1626113.07   | 0.22%             |  |  |  | No            |                  1 | On Loan: No      |
| QUALCOMM Inc                   | QUALCOMM Inc                                               | CUSIP: 747525103<br>LEI: H1J8DDZKZP6H7RWC0H53 | Long             | EC               | CORP              | US        |      3504 | NS      | $498829.44    | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| Salesforce Inc                 | Salesforce Inc                                             | CUSIP: 79466L302<br>LEI: RCGZFPDMRW58VJ54VR07 | Long             | EC               | CORP              | US        |      2190 | NS      | $426590.10    | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| Schneider Electric SE          | Schneider Electric SE                                      | CUSIP: 80687P106<br>LEI: 969500A1YF1XUYYXS284 | Long             | EC               | CORP              | FR        |     11253 | NS      | $733808.13    | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| Amphenol Corp                  | Amphenol Corp                                              | CUSIP: 032095101<br>LEI: 549300D3L3G0R4U4VT04 | Long             | EC               | CORP              | US        |      4015 | NS      | $586430.90    | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| Anglo American PLC             | Anglo American PLC                                         | CUSIP: 03485P409<br>LEI: 549300S9XF92D1X8ME43 | Long             | EC               | CORP              | GB        |     20865 | NS      | $521625.00    | 0.07%             |  |  |  | No            |                  1 | On Loan: —       |
| Apple Inc                      | Apple Inc                                                  | CUSIP: 037833100<br>LEI: HWUPKR0MPOU8FGXBT394 | Long             | EC               | CORP              | US        |     31159 | NS      | $8231584.62   | 1.13%             |  |  |  | No            |                  1 | On Loan: No      |
| Applied Materials Inc          | Applied Materials Inc                                      | CUSIP: 038222105<br>LEI: 41BNNE1AFPNAZELZ6K07 | Long             | EC               | CORP              | US        |      2407 | NS      | $896126.10    | 0.12%             |  |  |  | No            |                  1 | On Loan: No      |
| State Street SPDR Portfolio S& | State Street SPDR Portfolio S&P 500 Growth ETF             | CUSIP: 78464A409<br>LEI: 549300VUPJJVH7HVPB06 | Long             | EC               | RF                | US        |   1287688 | NS      | $133365846.16 | 18.23%            |  |  |  | No            |                  1 | On Loan: No      |
| State Street SPDR S&P Regional | State Street SPDR S&P Regional Banking ETF                 | CUSIP: 78464A698<br>LEI: 549300EFWJBKUN6WJX52 | Long             | EC               | RF                | US        |    303126 | NS      | $20239723.02  | 2.77%             |  |  |  | No            |                  1 | On Loan: —       |
| TSMC                           | Taiwan Semiconductor Manufacturing Co Ltd                  | CUSIP: 874039100<br>LEI: 549300KB6NK5SBD14S87 | Long             | EC               | CORP              | TW        |      3702 | NS      | $1386695.16   | 0.19%             |  |  |  | No            |                  1 | On Loan: No      |
| Tencent Holdings Ltd           | Tencent Holdings Ltd                                       | CUSIP: 88032Q109<br>LEI: 254900N4SLUMW4XUYY11 | Long             | EC               | CORP              | CN        |     15280 | NS      | $1003896.00   | 0.14%             |  |  |  | No            |                  1 | On Loan: No      |
| Tesla Inc                      | Tesla Inc                                                  | CUSIP: 88160R101<br>LEI: 54930043XZGB27CTOV49 | Long             | EC               | CORP              | US        |      8702 | NS      | $3502642.02   | 0.48%             |  |  |  | No            |                  1 | On Loan: No      |
| Tokyo Electron Ltd             | Tokyo Electron Ltd                                         | CUSIP: 889110102<br>LEI: 549300H5LSF8DP3RIJ34 | Long             | EC               | CORP              | JP        |      6003 | NS      | $848644.11    | 0.12%             |  |  |  | No            |                  1 | On Loan: No      |
| Uber Technologies Inc          | Uber Technologies Inc                                      | CUSIP: 90353T100<br>LEI: 549300B2FTG34FILDR98 | Long             | EC               | CORP              | US        |      8093 | NS      | $610374.06    | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| Visa Inc                       | Visa Inc                                                   | CUSIP: 92826C839<br>LEI: 549300JZ4OKEHW3DPJ59 | Long             | EC               | CORP              | US        |      1764 | NS      | $564726.96    | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| Walmart Inc                    | Walmart Inc                                                | CUSIP: 931142103<br>LEI: Y87794H0US1R65VBXU25 | Long             | EC               | CORP              | US        |     15676 | NS      | $2005744.20   | 0.27%             |  |  |  | No            |                  1 | On Loan: No      |
| Williams Cos Inc/The           | Williams Cos Inc/The                                       | CUSIP: 969457100<br>LEI: D71FAKCBLFS2O0RBPG08 | Long             | EC               | CORP              | US        |      6928 | NS      | $517660.16    | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| Meta Platforms Inc             | Meta Platforms Inc                                         | CUSIP: 30303M102<br>LEI: BQ4BKCS1HXDV9HN80Z93 | Long             | EC               | CORP              | US        |      3064 | NS      | $1986023.52   | 0.27%             |  |  |  | No            |                  1 | On Loan: No      |
| Invesco S&P 500 Equal Weight E | Invesco S&P 500 Equal Weight ETF                           | CUSIP: 46137V357<br>LEI: 549300F8VBQFIX481R47 | Long             | EC               | RF                | US        |    168476 | NS      | $34532525.72  | 4.72%             |  |  |  | No            |                  1 | On Loan: No      |
| Invesco KBW Bank ETF           | Invesco KBW Bank ETF                                       | CUSIP: 46138E628<br>LEI: 5493006QRDPX6RZ3LB17 | Long             | EC               | RF                | US        |    341491 | NS      | $27954453.26  | 3.82%             |  |  |  | No            |                  1 | On Loan: —       |
| iShares Core MSCI Emerging Mar | iShares Core MSCI Emerging Markets ETF                     | CUSIP: 46434G103<br>LEI: 5493007C24Z3ZDJ0VD06 | Long             | EC               | RF                | US        |    824597 | NS      | $63296065.72  | 8.65%             |  |  |  | No            |                  1 | On Loan: No      |
| iShares MSCI Japan ETF         | iShares MSCI Japan ETF                                     | CUSIP: 46434G822<br>LEI: 5493008I6YRUC6I0S051 | Long             | EC               | RF                | US        |    245318 | NS      | $22660023.66  | 3.10%             |  |  |  | No            |                  1 | On Loan: No      |
| iShares Core Dividend Growth E | iShares Core Dividend Growth ETF                           | CUSIP: 46434V621<br>LEI: 549300KH155G8BRZXD37 | Long             | EC               | RF                | US        |    686965 | NS      | $50752974.20  | 6.94%             |  |  |  | No            |                  1 | On Loan: —       |
| iShares Core MSCI Internationa | iShares Core MSCI International Developed Markets ETF      | CUSIP: 46435G326<br>LEI: 549300LRJOM3FVVFKB50 | Long             | EC               | RF                | US        |   1407818 | NS      | $127576467.16 | 17.44%            |  |  |  | No            |                  1 | On Loan: No      |
| JPMorgan Chase & Co            | JPMorgan Chase & Co                                        | CUSIP: 46625H100<br>LEI: 8I5DZWZKVSZI1NUHU748 | Long             | EC               | CORP              | US        |      5338 | NS      | $1603001.40   | 0.22%             |  |  |  | No            |                  1 | On Loan: No      |
| JPMorgan BetaBuilders Europe E | JPMorgan BetaBuilders Europe ETF                           | CUSIP: 46641Q191<br>LEI: 549300JYD28ABFNSPC78 | Long             | EC               | RF                | US        |    287862 | NS      | $22772762.82  | 3.11%             |  |  |  | No            |                  1 | On Loan: —       |
| Johnson & Johnson              | Johnson & Johnson                                          | CUSIP: 478160104<br>LEI: 549300G0CFPGEF6X2043 | Long             | EC               | CORP              | US        |      2657 | NS      | $660078.51    | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| KLA Corp                       | KLA Corp                                                   | CUSIP: 482480100<br>LEI: 549300H0BF5JCG96TJ81 | Long             | EC               | CORP              | US        |       487 | NS      | $742455.85    | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| Lam Research Corp              | Lam Research Corp                                          | CUSIP: 512807306<br>LEI: 549300I4GMO6D34U1T02 | Long             | EC               | CORP              | US        |      3592 | NS      | $840132.88    | 0.11%             |  |  |  | No            |                  1 | On Loan: No      |
| Marvell Technology Inc         | Marvell Technology Inc                                     | CUSIP: 573874104<br>LEI: 254900WVU0BM7ZCJ9E93 | Long             | EC               | CORP              | US        |      7137 | NS      | $583021.53    | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| Mastercard Inc                 | Mastercard Inc                                             | CUSIP: 57636Q104<br>LEI: AR5L2ODV9HN37376R084 | Long             | EC               | CORP              | US        |       929 | NS      | $480488.09    | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| Microsoft Corp                 | Microsoft Corp                                             | CUSIP: 594918104<br>LEI: INR2EJN1ERAN0W5ZP974 | Long             | EC               | CORP              | US        |     25856 | NS      | $10154685.44  | 1.39%             |  |  |  | No            |                  1 | On Loan: No      |
| Micron Technology Inc          | Micron Technology Inc                                      | CUSIP: 595112103<br>LEI: B3DXGBC8GAIYWI2Z0172 | Long             | EC               | CORP              | US        |      3943 | NS      | $1625974.91   | 0.22%             |  |  |  | No            |                  1 | On Loan: No      |
| Nebius Group NV                | Nebius Group NV                                            | CUSIP: N/A<br>LEI: 549300GGZHJ5Q1B18P93       | Long             | EC               | CORP              | NL        |      4320 | NS      | $393940.80    | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                            | State Street Consumer Staples Select Sector SPDR ETF       | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |     -5000 | NC      | $-25000.00    | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| N/A                            | State Street Consumer Staples Select Sector SPDR ETF       | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |      5000 | NC      | $107500.00    | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| ABB Ltd                        | ABB Ltd                                                    | CUSIP: 000375204<br>LEI: 5493000LKVGOO9PELI61 | Long             | EC               | CORP              | CH        |      8497 | NS      | $788436.63    | 0.11%             |  |  |  | No            |                  1 | On Loan: No      |
| Advanced Micro Devices Inc     | Advanced Micro Devices Inc                                 | CUSIP: 007903107<br>LEI: R2I72C950HOYXII45366 | Long             | EC               | CORP              | US        |      3187 | NS      | $638069.27    | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| AeroVironment Inc              | AeroVironment Inc                                          | CUSIP: 008073108<br>LEI: 529900PGHVI29YLZ6221 | Long             | EC               | CORP              | US        |      2334 | NS      | $588751.50    | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| Agnico Eagle Mines Ltd         | Agnico Eagle Mines Ltd                                     | CUSIP: 008474108<br>LEI: 254900BFJ2DOHPMEXN45 | Long             | EC               | CORP              | CA        |      2252 | NS      | $566603.20    | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| Alibaba Group Holding Ltd      | Alibaba Group Holding Ltd                                  | CUSIP: 01609W102<br>LEI: 5493001NTNQJDH60PM02 | Long             | EC               | CORP              | HK        |      5958 | NS      | $858607.38    | 0.12%             |  |  |  | No            |                  1 | On Loan: No      |
| Alphabet Inc                   | Alphabet Inc                                               | CUSIP: 02079K305<br>LEI: 5493006MHB84DD0ZWV18 | Long             | EC               | CORP              | US        |     35049 | NS      | $10926876.24  | 1.49%             |  |  |  | No            |                  1 | On Loan: No      |
| Amazon.com Inc                 | Amazon.com Inc                                             | CUSIP: 023135106<br>LEI: ZXTILKJKG63JELOEG630 | Long             | EC               | CORP              | US        |     43660 | NS      | $9168600.00   | 1.25%             |  |  |  | No            |                  1 | On Loan: No      |
| Hitachi Ltd                    | Hitachi Ltd                                                | CUSIP: 433578507<br>LEI: 549300T6IPOCDWLKC615 | Long             | EC               | CORP              | JP        |     21240 | NS      | $708778.80    | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| Home Depot Inc/The             | Home Depot Inc/The                                         | CUSIP: 437076102<br>LEI: QEKMOTMBBKA8I816DO57 | Long             | EC               | CORP              | US        |       771 | NS      | $293535.12    | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Intel Corp                     | Intel Corp                                                 | CUSIP: 458140100<br>LEI: KNX4USFCNGPY45LOCE31 | Long             | EC               | CORP              | US        |     16954 | NS      | $773271.94    | 0.11%             |  |  |  | No            |                  1 | On Loan: No      |
| Intuitive Surgical Inc         | Intuitive Surgical Inc                                     | CUSIP: 46120E602<br>LEI: 54930052SRG011710797 | Long             | EC               | CORP              | US        |      1871 | NS      | $942067.21    | 0.13%             |  |  |  | No            |                  1 | On Loan: No      |
| State Street SPDR Portfolio Em | State Street SPDR Portfolio Emerging Markets ETF           | CUSIP: 78463X509<br>LEI: 5493005Z5SCOTBZOLJ04 | Long             | EC               | RF                | US        |    579204 | NS      | $29255594.04  | 4.00%             |  |  |  | No            |                  1 | On Loan: No      |
| State Street Communication Ser | State Street Communication Services Select Sector SPDR ETF | CUSIP: 81369Y852<br>LEI: 549300RPODKQJE2HDW24 | Long             | EC               | RF                | US        |    172765 | NS      | $20394908.25  | 2.79%             |  |  |  | No            |                  1 | On Loan: No      |
| ServiceNow Inc                 | ServiceNow Inc                                             | CUSIP: 81762P102<br>LEI: 549300HJTQM36M0E1G39 | Long             | EC               | CORP              | US        |      4207 | NS      | $454398.07    | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| Shopify Inc                    | Shopify Inc                                                | CUSIP: 82509L107<br>LEI: 549300HGQ43STJLLP808 | Long             | EC               | CORP              | CA        |      3875 | NS      | $467828.75    | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| Siemens AG                     | Siemens AG                                                 | CUSIP: 826197501<br>LEI: W38RGI023J3WT1HWRP32 | Long             | EC               | CORP              | DE        |      7824 | NS      | $1139096.16   | 0.16%             |  |  |  | No            |                  1 | On Loan: No      |
| Siemens Energy AG              | Siemens Energy AG                                          | CUSIP: 82621A203<br>LEI: 5299005CHJZ14D4FDJ62 | Long             | EC               | CORP              | DE        |      4661 | NS      | $908242.46    | 0.12%             |  |  |  | No            |                  1 | On Loan: No      |
| Southern Copper Corp           | Southern Copper Corp                                       | CUSIP: 84265V105<br>LEI: 2549007U6NAP46Q9TU15 | Long             | EC               | CORP              | US        |      4658 | NS      | $1016898.49   | 0.14%             |  |  |  | No            |                  1 | On Loan: No      |
| Spotify Technology SA          | Spotify Technology SA                                      | CUSIP: N/A<br>LEI: 549300B4X0JHWV0DTD60       | Long             | EC               | CORP              | SE        |      1060 | NS      | $545836.40    | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| Oklo Inc                       | Oklo Inc                                                   | CUSIP: 02156V109<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      1645 | NS      | $103552.75    | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| First American Government Obli | First American Government Obligations Fund                 | CUSIP: 31846V336<br>LEI: 549300R5MYM6VZF1RM44 | Long             | STIV             | RF                | US        |  42546276 | NS      | $42546276.14  | 5.82%             |  |  |  | No            |                  1 | On Loan: No      |
| First Solar Inc                | First Solar Inc                                            | CUSIP: 336433107<br>LEI: 549300NPYMLM4NHTOF27 | Long             | EC               | CORP              | US        |      1156 | NS      | $227963.20    | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| GE Vernova Inc                 | GE Vernova Inc                                             | CUSIP: 36828A101<br>LEI: 254900DP080RU6OK2553 | Long             | EC               | CORP              | US        |      1079 | NS      | $942614.40    | 0.13%             |  |  |  | No            |                  1 | On Loan: No      |
| Goldman Sachs Equal Weight US  | Goldman Sachs Equal Weight US Large Cap Equity ETF         | CUSIP: 381430438<br>LEI: 549300NXT1LYCFNWQY09 | Long             | EC               | RF                | US        |    156942 | NS      | $14085544.50  | 1.93%             |  |  |  | No            |                  1 | On Loan: —       |
| Netflix Inc                    | Netflix Inc                                                | CUSIP: 64110L106<br>LEI: 549300Y7VHGU0I7CE873 | Long             | EC               | CORP              | US        |      6564 | NS      | $631719.36    | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| NVIDIA Corp                    | NVIDIA Corp                                                | CUSIP: 67066G104<br>LEI: 549300S4KLFTLO7GSQ80 | Long             | EC               | CORP              | US        |     69737 | NS      | $12356699.03  | 1.69%             |  |  |  | No            |                  1 | On Loan: No      |
| Oracle Corp                    | Oracle Corp                                                | CUSIP: 68389X105<br>LEI: 1Z4GXXU7ZHVWFCD8TV52 | Long             | EC               | CORP              | US        |      8754 | NS      | $1272831.60   | 0.17%             |  |  |  | No            |                  1 | On Loan: No      |
| Avantis International Small Ca | Avantis International Small Cap Value ETF                  | CUSIP: 025072802<br>LEI: 549300IHSLZS0JQXM287 | Long             | EC               | RF                | US        |    529520 | NS      | $58294856.80  | 7.97%             |  |  |  | No            |                  1 | On Loan: No      |
| Arista Networks Inc            | Arista Networks Inc                                        | CUSIP: 040413205<br>LEI: 635400H1WKBLOQERUU95 | Long             | EC               | CORP              | US        |      5011 | NS      | $668968.50    | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| ARM Holdings PLC               | ARM Holdings PLC                                           | CUSIP: 042068205<br>LEI: 2138001E66EELTE7Y904 | Long             | EC               | CORP              | GB        |      5377 | NS      | $685298.65    | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| BYD Co Ltd                     | BYD Co Ltd                                                 | CUSIP: 05606L100<br>LEI: 5299005557VL7ULJ7A69 | Long             | EC               | CORP              | CN        |     51483 | NS      | $618310.83    | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| Berkshire Hathaway Inc         | Berkshire Hathaway Inc                                     | CUSIP: 084670702<br>LEI: 5493000C01ZX7D35SD85 | Long             | EC               | CORP              | US        |      1027 | NS      | $518583.65    | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| Bloom Energy Corp              | Bloom Energy Corp                                          | CUSIP: 093712107<br>LEI: 549300XB5J9BFW5JXV97 | Long             | EC               | CORP              | US        |      1173 | NS      | $182600.91    | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Broadcom Inc                   | Broadcom Inc                                               | CUSIP: 11135F101<br>LEI: 549300WV6GIDOZJTV909 | Long             | EC               | CORP              | US        |      9831 | NS      | $3141496.05   | 0.43%             |  |  |  | No            |                  1 | On Loan: No      |
| Cadence Design Systems Inc     | Cadence Design Systems Inc                                 | CUSIP: 127387108<br>LEI: GCT7RXJOGLXPV0NXZY22 | Long             | EC               | CORP              | US        |      1855 | NS      | $559097.00    | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| Caterpillar Inc                | Caterpillar Inc                                            | CUSIP: 149123101<br>LEI: WRJR7GS4GTRECRRTVX92 | Long             | EC               | CORP              | US        |      1323 | NS      | $982764.09    | 0.13%             |  |  |  | No            |                  1 | On Loan: No      |
| Cognizant Technology Solutions | Cognizant Technology Solutions Corp                        | CUSIP: 192446102<br>LEI: 5493006IEVQEFQO40L83 | Long             | EC               | CORP              | US        |      6367 | NS      | $410225.81    | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| Constellation Energy Corp      | Constellation Energy Corp                                  | CUSIP: 21037T109<br>LEI: 549300F8Y20RYGNGV346 | Long             | EC               | CORP              | US        |      2275 | NS      | $750477.00    | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| Corning Inc                    | Corning Inc                                                | CUSIP: 219350105<br>LEI: 549300X2937PB0CJ7I56 | Long             | EC               | CORP              | US        |      6980 | NS      | $1049652.40   | 0.14%             |  |  |  | No            |                  1 | On Loan: No      |
| Costco Wholesale Corp          | Costco Wholesale Corp                                      | CUSIP: 22160K105<br>LEI: 29DX7H14B9S6O3FD6V18 | Long             | EC               | CORP              | US        |      1143 | NS      | $1155332.97   | 0.16%             |  |  |  | No            |                  1 | On Loan: No      |
| Deutsche Telekom AG            | Deutsche Telekom AG                                        | CUSIP: 251566105<br>LEI: 549300V9QSIG4WX4GJ96 | Long             | EC               | CORP              | DE        |     16829 | NS      | $677872.12    | 0.09%             |  |  |  | No            |                  1 | On Loan: —       |
| Exxon Mobil Corp               | Exxon Mobil Corp                                           | CUSIP: 30231G102<br>LEI: J3WHBG0MTS7O8ZVMDC91 | Long             | EC               | CORP              | US        |      4414 | NS      | $673135.00    | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| Eli Lilly & Co                 | Eli Lilly & Co                                             | CUSIP: 532457108<br>LEI: FRDRIPF3EKNDJ2CQJL29 | Long             | EC               | CORP              | US        |      2443 | NS      | $2570011.57   | 0.35%             |  |  |  | No            |                  1 | On Loan: No      |
| Eaton Corp PLC                 | Eaton Corp PLC                                             | CUSIP: N/A<br>LEI: 549300VDIGTMXUNT7H71       | Long             | EC               | CORP              | IE        |      2090 | NS      | $785672.80    | 0.11%             |  |  |  | No            |                  1 | On Loan: No      |
| ASML Holding NV                | ASML Holding NV                                            | CUSIP: N/A<br>LEI: 724500Y6DUVHQD6OXN27       | Long             | EC               | CORP              | NL        |       518 | NS      | $751390.08    | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |

### Signature

**Date Signed:** 2026-04-29

**Name of Applicant:** Horizon Funds

**Signature:** /s/ Stephen Terry

**Name of Signer:** Stephen Terry

**Title:** Chief Financial Officer