# EDGAR Filing Document

**Accession Number:** 0001643174
**File Stem:** 0001145549-23-003728
**Filing Date:** 2023-1
**Character Count:** 12381
**Document Hash:** e801499a3cb13c4a466facb7f9bc90e5
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001145549-23-003728.hdr.sgml**: 20230127

**ACCESSION NUMBER**: 0001145549-23-003728

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20221130

**FILED AS OF DATE**: 20230127

**DATE AS OF CHANGE**: 20230127

**PERIOD START**: 20221130

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Horizon Funds
- **CENTRAL INDEX KEY:** 0001643174
- **IRS NUMBER:** 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:** 23561046

**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           |

## 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:** 2022-11-30

- **b. Date as of which information is reported:** 2022-11-30

**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:** $887005497.42

**Total Liabilities:** $97808224.59

**Net Assets:** $789197272.83

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000159077 | -9.40%               | 8.19%                | 6.31%                |
| Class ID C000159078 | -9.31%               | 8.20%                | 6.24%                |
| Class ID C000159079 | -9.27%               | 8.14%                | 6.27%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $38.16                   | $-73233399.70                              |
| Month 2  | $18862.97                | $56193751.57                               |
| Month 3  | $-12282301.50            | $59704924.34                               |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| iShares MSCI USA Momentum Fact | iShares MSCI USA Momentum Factor ETF         | CUSIP: 46432F396<br>LEI: 5493002ZOOZ0SN3YYI81 | Long             | EC               | RF                | US        |    348656 | NS      | $53260690.56  | 6.75%             |  |  |  | No            |                  1 | On Loan: —       |
| iShares MSCI Japan ETF         | iShares MSCI Japan ETF                       | CUSIP: 46434G822<br>LEI: 5493008I6YRUC6I0S051 | Long             | EC               | RF                | US        |    726235 | NS      | $40523913.00  | 5.13%             |  |  |  | No            |                  1 | On Loan: —       |
| iShares Core Dividend Growth E | iShares Core Dividend Growth ETF             | CUSIP: 46434V621<br>LEI: 549300KH155G8BRZXD37 | Long             | EC               | RF                | US        |   1047279 | NS      | $54804110.07  | 6.94%             |  |  |  | No            |                  1 | On Loan: No      |
| Overlay Shares Large Cap Equit | Overlay Shares Large Cap Equity ETF          | CUSIP: 53656F805<br>LEI: 549300JS64I0SIJ5SZ39 | Long             | EC               | RF                | US        |    119154 | NS      | $3908108.22   | 0.50%             |  |  |  | No            |                  1 | On Loan: No      |
| Pacer US Cash Cows 100 ETF     | Pacer US Cash Cows 100 ETF                   | CUSIP: 69374H881<br>LEI: 54930060GYZPJJ3VGH78 | Long             | EC               | RF                | US        |       646 | NS      | $31938.24     | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| SPDR Portfolio Emerging Market | SPDR Portfolio Emerging Markets ETF          | CUSIP: 78463X509<br>LEI: 5493005Z5SCOTBZOLJ04 | Long             | EC               | RF                | US        |    477577 | NS      | $16433424.57  | 2.08%             |  |  |  | No            |                  1 | On Loan: —       |
| SPDR Portfolio S&P 500 Growth  | SPDR Portfolio S&P 500 Growth ETF            | CUSIP: 78464A409<br>LEI: 549300VUPJJVH7HVPB06 | Long             | EC               | RF                | US        |    696819 | NS      | $38311108.62  | 4.85%             |  |  |  | No            |                  1 | On Loan: No      |
| Consumer Staples Select Sector | Consumer Staples Select Sector SPDR Fund     | CUSIP: 81369Y308<br>LEI: 549300Z52QUV3UXHLA68 | Long             | EC               | RF                | US        |       421 | NS      | $32496.99     | 0.00%             |  |  |  | No            |                  1 | On Loan: —       |
| Energy Select Sector SPDR Fund | Energy Select Sector SPDR Fund               | CUSIP: 81369Y506<br>LEI: 54930064FLK0RD4TRU75 | Long             | EC               | RF                | US        |    162735 | NS      | $14833295.25  | 1.88%             |  |  |  | No            |                  1 | On Loan: No      |
| VanEck Oil Services ETF        | VanEck Oil Services ETF                      | CUSIP: 92189H607<br>LEI: 549300WSDUDKDJCJOV22 | Long             | EC               | RF                | US        |     24778 | NS      | $7536228.70   | 0.95%             |  |  |  | No            |                  1 | On Loan: —       |
| WisdomTree U.S. Quality Divide | WisdomTree U.S. Quality Dividend Growth Fund | CUSIP: 97717X669<br>LEI: N/A                  | Long             | EC               | RF                | US        |    859843 | NS      | $54445258.76  | 6.90%             |  |  |  | No            |                  1 | On Loan: No      |
| Xtrackers S&P 500 ESG ETF      | Xtrackers S&P 500 ESG ETF                    | CUSIP: 233051143<br>LEI: 549300RM0NHDLIL0ZV04 | Long             | EC               | RF                | US        |    209765 | NS      | $7736133.20   | 0.98%             |  |  |  | No            |                  1 | On Loan: No      |
| Xtrackers MSCI USA ESG Leaders | Xtrackers MSCI USA ESG Leaders Equity ETF    | CUSIP: 233051150<br>LEI: 549300GM7WI2EZM56H07 | Long             | EC               | RF                | US        |    626621 | NS      | $23335366.04  | 2.96%             |  |  |  | No            |                  1 | On Loan: No      |
| First American Treasury Obliga | First American Treasury Obligations Fund     | CUSIP: 31846V328<br>LEI: N/A                  | Long             | STIV             | RF                | US        |  10467355 | NS      | $10467355.23  | 1.33%             |  |  |  | No            |                  1 | On Loan: No      |
| First American Government Obli | First American Government Obligations Fund   | CUSIP: 31846V336<br>LEI: 549300R5MYM6VZF1RM44 | Long             | STIV             | RF                | US        |  96552454 | NS      | $96552454.03  | 12.23%            |  |  |  | No            |                  1 | On Loan: No      |
| Invesco QQQ Trust Series 1     | Invesco QQQ Trust Series 1                   | CUSIP: 46090E103<br>LEI: 549300VY6FEJBCIMET58 | Long             | EC               | RF                | US        |    117957 | NS      | $34603865.52  | 4.38%             |  |  |  | No            |                  1 | On Loan: No      |
| Invesco S&P 500 Equal Weight E | Invesco S&P 500 Equal Weight ETF             | CUSIP: 46137V357<br>LEI: N/A                  | Long             | EC               | RF                | US        |    523925 | NS      | $77970518.50  | 9.88%             |  |  |  | No            |                  1 | On Loan: —       |
| iShares Select Dividend ETF    | iShares Select Dividend ETF                  | CUSIP: 464287168<br>LEI: 549300NTKYSVK7SH3145 | Long             | EC               | RF                | US        |    248605 | NS      | $31197441.45  | 3.95%             |  |  |  | No            |                  1 | On Loan: No      |
| iShares Latin America 40 ETF   | iShares Latin America 40 ETF                 | CUSIP: 464287390<br>LEI: 549300LU9LZBB8WGN795 | Long             | EC               | RF                | US        |    282890 | NS      | $7397573.50   | 0.94%             |  |  |  | No            |                  1 | On Loan: —       |
| iShares Core S&P Mid-Cap ETF   | iShares Core S&P Mid-Cap ETF                 | CUSIP: 464287507<br>LEI: 549300ODQWH5PC0IUZ78 | Long             | EC               | RF                | US        |    331697 | NS      | $85246129.00  | 10.80%            |  |  |  | No            |                  1 | On Loan: No      |
| iShares Core S&P Small-Cap ETF | iShares Core S&P Small-Cap ETF               | CUSIP: 464287804<br>LEI: 549300BZQ17QYN750B25 | Long             | EC               | RF                | US        |    822255 | NS      | $83738449.20  | 10.61%            |  |  |  | No            |                  1 | On Loan: No      |
| iShares International Select D | iShares International Select Dividend ETF    | CUSIP: 464288448<br>LEI: 549300N6YD8GRWDMTI21 | Long             | EC               | RF                | US        |   1828013 | NS      | $49776793.99  | 6.31%             |  |  |  | No            |                  1 | On Loan: —       |
| iShares US Aerospace & Defense | iShares US Aerospace & Defense ETF           | CUSIP: 464288760<br>LEI: 549300BI35CWQ4Q8FM41 | Long             | EC               | RF                | US        |       378 | NS      | $42305.76     | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| iShares MSCI India ETF         | iShares MSCI India ETF                       | CUSIP: 46429B598<br>LEI: 549300282VMCFH7S5848 | Long             | EC               | RF                | US        |       466 | NS      | $20615.84     | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| iShares MSCI USA Min Vol Facto | iShares MSCI USA Min Vol Factor ETF          | CUSIP: 46429B697<br>LEI: 54930006KUZN6GLGL496 | Long             | EC               | RF                | US        |    515734 | NS      | $38814140.84  | 4.92%             |  |  |  | No            |                  1 | On Loan: No      |
| iShares MSCI USA Quality Facto | iShares MSCI USA Quality Factor ETF          | CUSIP: 46432F339<br>LEI: 5493007KMK0CQLE2O168 | Long             | EC               | RF                | US        |    454214 | NS      | $55068905.36  | 6.98%             |  |  |  | No            |                  1 | On Loan: No      |

### Signature

**Date Signed:** 2023-01-25

**Name of Applicant:** Horizon Funds

**Signature:** /s/ Steve Terry

**Name of Signer:** Steve Terry

**Title:** Treasurer of the Trust