# EDGAR Filing Document

**Accession Number:** 0001643174
**File Stem:** 0001145549-25-047305
**Filing Date:** 2025-7
**Character Count:** 32518
**Document Hash:** 03786c4ac3a1d9e32757f4e25130d446
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001145549-25-047305.hdr.sgml**: 20250724

**ACCESSION NUMBER**: 0001145549-25-047305

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20250531

**FILED AS OF DATE**: 20250724

**DATE AS OF CHANGE**: 20250723

**PERIOD START**: 20251130

**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:** 251144180

**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:** 2025-11-30

- **b. Date as of which information is reported:** 2025-05-31

**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:** $770878456.93

**Total Liabilities:** $36854746.26

**Net Assets:** $734023710.67

**Cash Not Reported:** $145440.77

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000159077 | -4.73%               | -0.32%               | 5.22%                |
| Class ID C000159078 | -4.69%               | -0.31%               | 5.25%                |
| Class ID C000159079 | -4.71%               | -0.31%               | 5.27%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $-1747974.84             | $-34936786.85                              |
| Month 2  | $-21004066.12            | $18821397.88                               |
| Month 3  | $257260.69               | $37959944.59                               |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| Meta Platforms Inc             | Meta Platforms Inc                                    | CUSIP: 30303M102<br>LEI: BQ4BKCS1HXDV9HN80Z93 | Long             | EC               | CORP              | US        |       760 | NS      | $492092.40    | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| iShares U.S. Aerospace & Defen | iShares U.S. Aerospace & Defense ETF                  | CUSIP: 464288760<br>LEI: 549300BI35CWQ4Q8FM41 | Long             | EC               | RF                | US        |       291 | NS      | $51576.84     | 0.01%             |  |  |  | No            |                  1 | On Loan: —       |
| iShares MSCI USA Min Vol Facto | iShares MSCI USA Min Vol Factor ETF                   | CUSIP: 46429B697<br>LEI: 54930006KUZN6GLGL496 | Long             | EC               | RF                | US        |      1264 | NS      | $118196.64    | 0.02%             |  |  |  | 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        |       472 | NS      | $83572.32     | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| iShares MSCI USA Value Factor  | iShares MSCI USA Value Factor ETF                     | CUSIP: 46432F388<br>LEI: 549300QCMVXVCAPD3O82 | Long             | EC               | RF                | US        |    269991 | NS      | $28886337.09  | 3.94%             |  |  |  | No            |                  1 | On Loan: No      |
| JPMorgan BetaBuilders Europe E | JPMorgan BetaBuilders Europe ETF                      | CUSIP: 46641Q191<br>LEI: 549300JYD28ABFNSPC78 | Long             | EC               | RF                | US        |    322112 | NS      | $21604051.84  | 2.94%             |  |  |  | No            |                  1 | On Loan: —       |
| KLA Corp                       | KLA Corp                                              | CUSIP: 482480100<br>LEI: 549300H0BF5JCG96TJ81 | Long             | EC               | CORP              | US        |       155 | NS      | $117316.40    | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Lam Research Corp              | Lam Research Corp                                     | CUSIP: 512807306<br>LEI: 549300I4GMO6D34U1T02 | Long             | EC               | CORP              | US        |      1434 | NS      | $115852.86    | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Microsoft Corp                 | Microsoft Corp                                        | CUSIP: 594918104<br>LEI: INR2EJN1ERAN0W5ZP974 | Long             | EC               | CORP              | US        |      1004 | NS      | $462201.44    | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| Micron Technology Inc          | Micron Technology Inc                                 | CUSIP: 595112103<br>LEI: B3DXGBC8GAIYWI2Z0172 | Long             | EC               | CORP              | US        |      1253 | NS      | $118358.38    | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Netflix Inc                    | Netflix Inc                                           | CUSIP: 64110L106<br>LEI: 549300Y7VHGU0I7CE873 | Long             | EC               | CORP              | US        |       113 | NS      | $136416.99    | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| NVIDIA Corp                    | NVIDIA Corp                                           | CUSIP: 67066G104<br>LEI: 549300S4KLFTLO7GSQ80 | Long             | EC               | CORP              | US        |      4468 | NS      | $603760.84    | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| Oracle Corp                    | Oracle Corp                                           | CUSIP: 68389X105<br>LEI: 1Z4GXXU7ZHVWFCD8TV52 | Long             | EC               | CORP              | US        |      1309 | NS      | $216678.77    | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Palantir Technologies Inc      | Palantir Technologies Inc                             | CUSIP: 69608A108<br>LEI: 549300UVN46B3BBDHO85 | Long             | EC               | CORP              | US        |      1230 | NS      | $162089.40    | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Palo Alto Networks Inc         | Palo Alto Networks Inc                                | CUSIP: 697435105<br>LEI: 549300QXR2YVZV231H43 | Long             | EC               | CORP              | US        |       574 | NS      | $110449.08    | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Paycom Software Inc            | Paycom Software Inc                                   | CUSIP: 70432V102<br>LEI: 254900LSB0HNJUDC6Q18 | Long             | EC               | CORP              | US        |       352 | NS      | $91199.68     | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Qualys Inc                     | Qualys Inc                                            | CUSIP: 74758T303<br>LEI: 549300EMBXYOW9W1XA17 | Long             | EC               | CORP              | US        |       896 | NS      | $124140.80    | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Quanta Services Inc            | Quanta Services Inc                                   | CUSIP: 74762E102<br>LEI: SHVRXXEACT60MMH07S24 | Long             | EC               | CORP              | US        |       159 | NS      | $54467.04     | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| SPDR Portfolio Emerging Market | SPDR Portfolio Emerging Markets ETF                   | CUSIP: 78463X509<br>LEI: 5493005Z5SCOTBZOLJ04 | Long             | EC               | RF                | US        |    696282 | NS      | $28464008.16  | 3.88%             |  |  |  | No            |                  1 | On Loan: No      |
| SPDR Portfolio S&P 500 Growth  | SPDR Portfolio S&P 500 Growth ETF                     | CUSIP: 78464A409<br>LEI: 549300VUPJJVH7HVPB06 | Long             | EC               | RF                | US        |   1581488 | NS      | $141843658.72 | 19.32%            |  |  |  | No            |                  1 | On Loan: No      |
| SPDR Portfolio S&P 500 Value E | SPDR Portfolio S&P 500 Value ETF                      | CUSIP: 78464A508<br>LEI: 549300Q000TDS51V8H46 | Long             | EC               | RF                | US        |   1542797 | NS      | $78188951.96  | 10.65%            |  |  |  | No            |                  1 | On Loan: No      |
| SPDR S&P Regional Banking ETF  | SPDR S&P Regional Banking ETF                         | CUSIP: 78464A698<br>LEI: 549300EFWJBKUN6WJX52 | Long             | EC               | RF                | US        |       935 | NS      | $53182.80     | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Salesforce Inc                 | Salesforce Inc                                        | CUSIP: 79466L302<br>LEI: RCGZFPDMRW58VJ54VR07 | Long             | EC               | CORP              | US        |       537 | NS      | $142503.69    | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| SAP SE                         | SAP SE                                                | CUSIP: 803054204<br>LEI: 529900D6BF99LW9R2E68 | Long             | EC               | CORP              | DE        |       699 | NS      | $211699.14    | 0.03%             |  |  |  | No            |                  1 | On Loan: —       |
| Technology Select Sector SPDR  | Technology Select Sector SPDR Fund                    | CUSIP: 81369Y803<br>LEI: 549300BR5T0JNM2MW070 | Long             | EC               | RF                | US        |       362 | NS      | $83589.42     | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| ServiceNow Inc                 | ServiceNow Inc                                        | CUSIP: 81762P102<br>LEI: 549300HJTQM36M0E1G39 | Long             | EC               | CORP              | US        |       173 | NS      | $174918.57    | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Synopsys Inc                   | Synopsys Inc                                          | CUSIP: 871607107<br>LEI: QG7T915N9S0NY5UKNE63 | Long             | EC               | CORP              | US        |       232 | NS      | $107643.36    | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| TSMC                           | Taiwan Semiconductor Manufacturing Co Ltd             | CUSIP: 874039100<br>LEI: 549300KB6NK5SBD14S87 | Long             | EC               | CORP              | TW        |       548 | NS      | $105939.36    | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Tencent Holdings Ltd           | Tencent Holdings Ltd                                  | CUSIP: 88032Q109<br>LEI: 254900N4SLUMW4XUYY11 | Long             | EC               | CORP              | CN        |      1287 | NS      | $80797.86     | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Uber Technologies Inc          | Uber Technologies Inc                                 | CUSIP: 90353T100<br>LEI: 549300B2FTG34FILDR98 | Long             | EC               | CORP              | US        |      1520 | NS      | $127923.20    | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| VanEck Semiconductor ETF       | VanEck Semiconductor ETF                              | CUSIP: 92189F676<br>LEI: 549300MJTG2N9QRH7I02 | Long             | EC               | RF                | US        |       212 | NS      | $50827.00     | 0.01%             |  |  |  | No            |                  1 | On Loan: —       |
| Vistra Corp                    | Vistra Corp                                           | CUSIP: 92840M102<br>LEI: 549300KP43CPCUJOOG15 | Long             | EC               | CORP              | US        |       489 | NS      | $78518.73     | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| WisdomTree Japan Hedged Equity | WisdomTree Japan Hedged Equity Fund                   | CUSIP: 97717W851<br>LEI: 549300MCUICL7FEQ7B68 | Long             | EC               | RF                | US        |       241 | NS      | $27396.88     | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Workday Inc                    | Workday Inc                                           | CUSIP: 98138H101<br>LEI: 549300J0DYC0N31V7G13 | Long             | EC               | CORP              | US        |       462 | NS      | $114442.02    | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                            | SPDR EURO STOXX 50 ETF                                | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |      5000 | NC      | $50000.00     | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| N/A                            | SPDR EURO STOXX 50 ETF                                | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |      5000 | NC      | $25000.03     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Trane Technologies PLC         | Trane Technologies PLC                                | CUSIP: N/A<br>LEI: 549300BURLR9SLYY2705       | Long             | EC               | CORP              | IE        |       114 | NS      | $49050.78     | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                            | Financial Select Sector SPDR Fund                     | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |      3000 | NC      | $94500.00     | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| N/A                            | Consumer Staples Select Sector SPDR Fund              | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |     -6000 | NC      | $-1539000.00  | -0.21%            |  |  |  | No            |                  2 | On Loan: No      |
| N/A                            | Consumer Staples Select Sector SPDR Fund              | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |      6000 | NC      | $327000.00    | 0.04%             |  |  |  | No            |                  2 | On Loan: No      |
| Advanced Micro Devices Inc     | Advanced Micro Devices Inc                            | CUSIP: 007903107<br>LEI: R2I72C950HOYXII45366 | Long             | EC               | CORP              | US        |      1274 | NS      | $141070.02    | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Alibaba Group Holding Ltd      | Alibaba Group Holding Ltd                             | CUSIP: 01609W102<br>LEI: 5493001NTNQJDH60PM02 | Long             | EC               | CORP              | CN        |      1202 | NS      | $136835.68    | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Alphabet Inc                   | Alphabet Inc                                          | CUSIP: 02079K305<br>LEI: 5493006MHB84DD0ZWV18 | Long             | EC               | CORP              | US        |      1845 | NS      | $316860.30    | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Amazon.com Inc                 | Amazon.com Inc                                        | CUSIP: 023135106<br>LEI: ZXTILKJKG63JELOEG630 | Long             | EC               | CORP              | US        |      3086 | NS      | $632660.86    | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| Adobe Inc                      | Adobe Inc                                             | CUSIP: 00724F101<br>LEI: FU4LY2G4933NH2E1CP29 | Long             | EC               | CORP              | US        |       243 | NS      | $100866.87    | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Amphenol Corp                  | Amphenol Corp                                         | CUSIP: 032095101<br>LEI: 549300D3L3G0R4U4VT04 | Long             | EC               | CORP              | US        |      1639 | NS      | $147395.27    | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Analog Devices Inc             | Analog Devices Inc                                    | CUSIP: 032654105<br>LEI: GYVOE5EZ4GDAVTU4CQ61 | Long             | EC               | CORP              | US        |       449 | NS      | $96077.02     | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Apple Inc                      | Apple Inc                                             | CUSIP: 037833100<br>LEI: HWUPKR0MPOU8FGXBT394 | Long             | EC               | CORP              | US        |      1293 | NS      | $259699.05    | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Applied Materials Inc          | Applied Materials Inc                                 | CUSIP: 038222105<br>LEI: 41BNNE1AFPNAZELZ6K07 | Long             | EC               | CORP              | US        |       779 | NS      | $122108.25    | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Arista Networks Inc            | Arista Networks Inc                                   | CUSIP: 040413205<br>LEI: 635400H1WKBLOQERUU95 | Long             | EC               | CORP              | US        |      1410 | NS      | $122162.40    | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| ARM Holdings PLC               | ARM Holdings PLC                                      | CUSIP: 042068205<br>LEI: 2138001E66EELTE7Y904 | Long             | EC               | CORP              | GB        |       641 | NS      | $79830.14     | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Autodesk Inc                   | Autodesk Inc                                          | CUSIP: 052769106<br>LEI: FRKKVKAIQEF3FCSTPG55 | Long             | EC               | CORP              | US        |       355 | NS      | $105122.60    | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Broadcom Inc                   | Broadcom Inc                                          | CUSIP: 11135F101<br>LEI: 549300WV6GIDOZJTV909 | Long             | EC               | CORP              | US        |      1258 | NS      | $304524.06    | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| iShares MSCI EAFE ETF          | iShares MSCI EAFE ETF                                 | CUSIP: 464287465<br>LEI: 549300O0XO3KDQV68404 | Long             | EC               | RF                | US        |       510 | NS      | $45293.10     | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| iShares Core S&P Mid-Cap ETF   | iShares Core S&P Mid-Cap ETF                          | CUSIP: 464287507<br>LEI: 549300ODQWH5PC0IUZ78 | Long             | EC               | RF                | US        |       665 | NS      | $39926.60     | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| iShares MSCI Japan ETF         | iShares MSCI Japan ETF                                | CUSIP: 46434G822<br>LEI: 5493008I6YRUC6I0S051 | Long             | EC               | RF                | US        |    288369 | NS      | $21373910.28  | 2.91%             |  |  |  | No            |                  1 | On Loan: —       |
| iShares Core MSCI Internationa | iShares Core MSCI International Developed Markets ETF | CUSIP: 46435G326<br>LEI: 549300LRJOM3FVVFKB50 | Long             | EC               | RF                | US        |   2105075 | NS      | $158343741.50 | 21.57%            |  |  |  | No            |                  1 | On Loan: No      |
| Cadence Design Systems Inc     | Cadence Design Systems Inc                            | CUSIP: 127387108<br>LEI: GCT7RXJOGLXPV0NXZY22 | Long             | EC               | CORP              | US        |       435 | NS      | $124875.45    | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Cognizant Technology Solutions | Cognizant Technology Solutions Corp                   | CUSIP: 192446102<br>LEI: 5493006IEVQEFQO40L83 | Long             | EC               | CORP              | US        |      1847 | NS      | $149588.53    | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Constellation Energy Corp      | Constellation Energy Corp                             | CUSIP: 21037T109<br>LEI: 549300F8Y20RYGNGV346 | Long             | EC               | CORP              | US        |       259 | NS      | $79292.85     | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Crowdstrike Holdings Inc       | Crowdstrike Holdings Inc                              | CUSIP: 22788C105<br>LEI: 549300YBY08K9KM4HX32 | Long             | EC               | CORP              | US        |       272 | NS      | $128212.64    | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Danaher Corp                   | Danaher Corp                                          | CUSIP: 235851102<br>LEI: S4BKK9OTCEWQ3YHPFM11 | Long             | EC               | CORP              | US        |       461 | NS      | $87543.90     | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Dell Technologies Inc          | Dell Technologies Inc                                 | CUSIP: 24703L202<br>LEI: 549300TJB5YBRUPOG437 | Long             | EC               | CORP              | US        |      1078 | NS      | $119949.06    | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Deutsche Telekom AG            | Deutsche Telekom AG                                   | CUSIP: 251566105<br>LEI: 549300V9QSIG4WX4GJ96 | Long             | EC               | CORP              | DE        |      5134 | NS      | $194321.90    | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| First American Treasury Obliga | First American Treasury Obligations Fund              | CUSIP: 31846V328<br>LEI: 549300UU586IAH2B8H03 | Long             | STIV             | RF                | US        |   1402551 | NS      | $1402551.16   | 0.19%             |  |  |  | No            |                  1 | On Loan: No      |
| First American Government Obli | First American Government Obligations Fund            | CUSIP: 31846V336<br>LEI: 549300R5MYM6VZF1RM44 | Long             | STIV             | RF                | US        |  34305821 | NS      | $34305820.75  | 4.67%             |  |  |  | No            |                  1 | On Loan: No      |
| Fortinet Inc                   | Fortinet Inc                                          | CUSIP: 34959E109<br>LEI: 549300O0QJWDBAS0QX03 | Long             | EC               | CORP              | US        |       889 | NS      | $90482.42     | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| GE Vernova Inc                 | GE Vernova Inc                                        | CUSIP: 36828A101<br>LEI: 254900DP080RU6OK2553 | Long             | EC               | CORP              | US        |       257 | NS      | $121555.86    | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| GoDaddy Inc                    | GoDaddy Inc                                           | CUSIP: 380237107<br>LEI: 549300J8H1TB0I2CB447 | Long             | EC               | CORP              | US        |       579 | NS      | $105464.85    | 0.01%             |  |  |  | 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        |    186758 | NS      | $14692251.86  | 2.00%             |  |  |  | No            |                  1 | On Loan: —       |
| Intel Corp                     | Intel Corp                                            | CUSIP: 458140100<br>LEI: KNX4USFCNGPY45LOCE31 | Long             | EC               | CORP              | US        |      5397 | NS      | $105511.35    | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Invesco QQQ Trust Series 1     | Invesco QQQ Trust Series 1                            | CUSIP: 46090E103<br>LEI: 549300VY6FEJBCIMET58 | Long             | EC               | RF                | US        |       253 | NS      | $131334.83    | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Intuit Inc                     | Intuit Inc                                            | CUSIP: 461202103<br>LEI: VI90HBPH7XSFMB9E4M29 | Long             | EC               | CORP              | US        |       177 | NS      | $133364.19    | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Intuitive Surgical Inc         | Intuitive Surgical Inc                                | CUSIP: 46120E602<br>LEI: 54930052SRG011710797 | Long             | EC               | CORP              | US        |       185 | NS      | $102182.90    | 0.01%             |  |  |  | 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        |    410330 | NS      | $72394521.90  | 9.86%             |  |  |  | No            |                  1 | On Loan: No      |
| Invesco KBW Bank ETF           | Invesco KBW Bank ETF                                  | CUSIP: 46138E628<br>LEI: 5493006QRDPX6RZ3LB17 | Long             | EC               | RF                | US        |    349309 | NS      | $22918163.49  | 3.12%             |  |  |  | No            |                  1 | On Loan: —       |
| iShares Core MSCI Emerging Mar | iShares Core MSCI Emerging Markets ETF                | CUSIP: 46434G103<br>LEI: 5493007C24Z3ZDJ0VD06 | Long             | EC               | RF                | US        |   1010816 | NS      | $57303159.04  | 7.81%             |  |  |  | No            |                  1 | On Loan: No      |
| iShares Core Dividend Growth E | iShares Core Dividend Growth ETF                      | CUSIP: 46434V621<br>LEI: 549300KH155G8BRZXD37 | Long             | EC               | RF                | US        |   1146030 | NS      | $71179923.30  | 9.70%             |  |  |  | No            |                  1 | On Loan: —       |
| iShares Bitcoin Trust ETF      | iShares Bitcoin Trust ETF                             | CUSIP: 46438F101<br>LEI: 529900HVFN08L8P4H851 | Long             | EC               | RF                | US        |    134124 | NS      | $7975013.04   | 1.09%             |  |  |  | No            |                  1 | On Loan: No      |
| Eli Lilly & Co                 | Eli Lilly & Co                                        | CUSIP: 532457108<br>LEI: FRDRIPF3EKNDJ2CQJL29 | Long             | EC               | CORP              | US        |       173 | NS      | $127616.91    | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Health Care Select Sector SPDR | Health Care Select Sector SPDR Fund                   | CUSIP: 81369Y209<br>LEI: 549300EJNY3KKJHPOY44 | Long             | EC               | RF                | US        |       274 | NS      | $36343.36     | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Consumer Discretionary Select  | Consumer Discretionary Select Sector SPDR Fund        | CUSIP: 81369Y407<br>LEI: 549300CD2I087Y919K79 | Long             | EC               | RF                | US        |       285 | NS      | $60933.00     | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Energy Select Sector SPDR Fund | Energy Select Sector SPDR Fund                        | CUSIP: 81369Y506<br>LEI: 54930064FLK0RD4TRU75 | Long             | EC               | RF                | US        |       749 | NS      | $61065.97     | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Communication Services Select  | Communication Services Select Sector SPDR Fund        | CUSIP: 81369Y852<br>LEI: 549300RPODKQJE2HDW24 | Long             | EC               | RF                | US        |       476 | NS      | $48266.40     | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Eaton Corp PLC                 | Eaton Corp PLC                                        | CUSIP: N/A<br>LEI: 549300VDIGTMXUNT7H71       | Long             | EC               | CORP              | IE        |       143 | NS      | $45788.60     | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Genpact Ltd                    | Genpact Ltd                                           | CUSIP: N/A<br>LEI: 529900OSEC6Q0L4L5B35       | Long             | EC               | CORP              | US        |      2218 | NS      | $95484.90     | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |

### Signature

**Date Signed:** 2025-07-23

**Name of Applicant:** Horizon Funds

**Signature:** /s/ Matt Chambers

**Name of Signer:** Matt Chambers

**Title:** Chief Compliance Officer