# EDGAR Filing Document

**Accession Number:** 0001643174
**File Stem:** 0000894189-25-012157
**Filing Date:** 2025-10
**Character Count:** 101305
**Document Hash:** fa38075096b1581ee04281e40991b91d
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000894189-25-012157.hdr.sgml**: 20251028

**ACCESSION NUMBER**: 0000894189-25-012157

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20250831

**FILED AS OF DATE**: 20251028

**DATE AS OF CHANGE**: 20251028

**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:** 251423691

**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 EXPEDITION PLUS ETF (Series ID: S000089818)

| Class ID   | Class Name                  | Ticker Symbol   |
|:---|:---|:---|
| C000256618 | HORIZON EXPEDITION PLUS ETF |  |

## Nport-Ex

---

| | | | |
|:---|:---|:---|:---|
| **Horizon Expedition Plus ETF** | **Horizon Expedition Plus ETF** | **Horizon Expedition Plus ETF** | **Horizon Expedition Plus ETF** |
| **Schedule of Investments** | **Schedule of Investments** | **Schedule of Investments** | **Schedule of Investments** |
| **August 31, 2025 (Unaudited)** | **August 31, 2025 (Unaudited)** | **August 31, 2025 (Unaudited)** | **August 31, 2025 (Unaudited)** |
| **COMMON STOCKS - 99.0%** | **COMMON STOCKS - 99.0%** | **Shares** | **Value**  |
| **Aerospace & Defense - 2.2%** | **Aerospace & Defense - 2.2%** | **Aerospace & Defense - 2.2%** | |
| Axon Enterprise, Inc. <sup>(a)(b)</sup> | Axon Enterprise, Inc. <sup>(a)(b)</sup> | 409 | $305642 |
| General Electric Co. <sup>(b)</sup> | General Electric Co. <sup>(b)</sup> | 2750 | 756800 |
| Howmet Aerospace, Inc. <sup>(b)</sup> | Howmet Aerospace, Inc. <sup>(b)</sup> | 1716 | 298756 |
| RTX Corp. <sup>(b)</sup> | RTX Corp. <sup>(b)</sup> | 2579 | 409029 |
| TransDigm Group, Inc. <sup>(b)</sup> | TransDigm Group, Inc. <sup>(b)</sup> | 187 | 261590 |
|  |  |  | 2031817 |
| **Air Freight & Logistics - 0.1%** | **Air Freight & Logistics - 0.1%** | **Air Freight & Logistics - 0.1%** |  |
| FedEx Corp. <sup>(b)</sup> | FedEx Corp. <sup>(b)</sup> | 447 | 103288 |
| **Automobiles - 3.0%** | **Automobiles - 3.0%** | **Automobiles - 3.0%** |  |
| General Motors Co. <sup>(b)</sup> | General Motors Co. <sup>(b)</sup> | 4332 | 253812 |
| Tesla, Inc. <sup>(a)(b)</sup> | Tesla, Inc. <sup>(a)(b)</sup> | 7717 | 2576475 |
|  |  |  | 2830287 |
| **Banks - 4.8%** | **Banks - 4.8%** | **Banks - 4.8%** |  |
| Bank of America Corp. <sup>(b)</sup> | Bank of America Corp. <sup>(b)</sup> | 17661 | 896119 |
| Citigroup, Inc. <sup>(b)</sup> | Citigroup, Inc. <sup>(b)</sup> | 5313 | 513076 |
| JPMorgan Chase & Co. <sup>(b)</sup> | JPMorgan Chase & Co. <sup>(b)</sup> | 7115 | 2144603 |
| M&T Bank Corp. <sup>(b)</sup> | M&T Bank Corp. <sup>(b)</sup> | 463 | 93369 |
| US Bancorp <sup>(b)</sup> | US Bancorp <sup>(b)</sup> | 4392 | 214461 |
| Wells Fargo & Co. <sup>(b)</sup> | Wells Fargo & Co. <sup>(b)</sup> | 8042 | 660892 |
|  |  |  | 4522520 |
| **Beverages - 0.4%** | **Beverages - 0.4%** | **Beverages - 0.4%** |  |
| Coca-Cola Co. <sup>(b)</sup> | Coca-Cola Co. <sup>(b)</sup> | 4884 | 336947 |
| **Biotechnology - 0.8%** | **Biotechnology - 0.8%** | **Biotechnology - 0.8%** |  |
| AbbVie, Inc. <sup>(b)</sup> | AbbVie, Inc. <sup>(b)</sup> | 2315 | 487076 |
| Gilead Sciences, Inc. <sup>(b)</sup> | Gilead Sciences, Inc. <sup>(b)</sup> | 2329 | 263107 |
|  |  |  | 750183 |
| **Broadline Retail - 4.6%** | **Broadline Retail - 4.6%** | **Broadline Retail - 4.6%** |  |
| Amazon.com, Inc. <sup>(a)(b)</sup> | Amazon.com, Inc. <sup>(a)(b)</sup> | 18392 | 4211768 |
| eBay, Inc. <sup>(b)</sup> | eBay, Inc. <sup>(b)</sup> | 1751 | 158658 |
|  |  |  | 4370426 |
| **Building Products - 1.0%** | **Building Products - 1.0%** | **Building Products - 1.0%** |  |
| Carrier Global Corp. <sup>(b)</sup> | Carrier Global Corp. <sup>(b)</sup> | 3011 | 196317 |
| Johnson Controls International PLC <sup>(b)</sup> | Johnson Controls International PLC <sup>(b)</sup> | 2533 | 270753 |
| Lennox International, Inc. <sup>(b)</sup> | Lennox International, Inc. <sup>(b)</sup> | 185 | 103204 |
| Trane Technologies PLC <sup>(b)</sup> | Trane Technologies PLC <sup>(b)</sup> | 857 | 356169 |
|  |  |  | 926443 |
| **Capital Markets - 4.0%** | **Capital Markets - 4.0%** | **Capital Markets - 4.0%** |  |
| Ameriprise Financial, Inc. <sup>(b)</sup> | Ameriprise Financial, Inc. <sup>(b)</sup> | 399 | 205409 |
| Blackrock, Inc. <sup>(b)</sup> | Blackrock, Inc. <sup>(b)</sup> | 423 | 476780 |
| Blackstone, Inc. <sup>(b)</sup> | Blackstone, Inc. <sup>(b)</sup> | 2291 | 392677 |
| CME Group, Inc. <sup>(b)</sup> | CME Group, Inc. <sup>(b)</sup> | 841 | 224135 |
| Goldman Sachs Group, Inc. <sup>(b)</sup> | Goldman Sachs Group, Inc. <sup>(b)</sup> | 852 | 634953 |
| KKR & Co., Inc. <sup>(b)</sup> | KKR & Co., Inc. <sup>(b)</sup> | 2740 | 382203 |
| Moody's Corp. <sup>(b)</sup> | Moody's Corp. <sup>(b)</sup> | 421 | 214609 |
| Morgan Stanley <sup>(b)</sup> | Morgan Stanley <sup>(b)</sup> | 4409 | 663466 |
| MSCI, Inc. <sup>(b)</sup> | MSCI, Inc. <sup>(b)</sup> | 198 | 112409 |
| Nasdaq, Inc. <sup>(b)</sup> | Nasdaq, Inc. <sup>(b)</sup> | 2767 | 262146 |
| Raymond James Financial, Inc. <sup>(b)</sup> | Raymond James Financial, Inc. <sup>(b)</sup> | 607 | 102850 |
| State Street Corp. <sup>(b)</sup> | State Street Corp. <sup>(b)</sup> | 1055 | 121293 |
|  |  |  | 3792930 |
| **Chemicals - 0.8%** | **Chemicals - 0.8%** | **Chemicals - 0.8%** |  |
| Air Products and Chemicals, Inc. <sup>(b)</sup> | Air Products and Chemicals, Inc. <sup>(b)</sup> | 382 | 112350 |
| Corteva, Inc. <sup>(b)</sup> | Corteva, Inc. <sup>(b)</sup> | 1639 | 121597 |
| Ecolab, Inc. <sup>(b)</sup> | Ecolab, Inc. <sup>(b)</sup> | 404 | 111924 |
| Linde PLC <sup>(b)</sup> | Linde PLC <sup>(b)</sup> | 429 | 205187 |
| Sherwin-Williams Co. <sup>(b)</sup> | Sherwin-Williams Co. <sup>(b)</sup> | 613 | 224254 |
|  |  |  | 775312 |
| **Commercial Services & Supplies - 0.5%** | **Commercial Services & Supplies - 0.5%** | **Commercial Services & Supplies - 0.5%** |  |
| Cintas Corp. <sup>(b)</sup> | Cintas Corp. <sup>(b)</sup> | 1025 | 215281 |
| Copart, Inc. <sup>(a)(b)</sup> | Copart, Inc. <sup>(a)(b)</sup> | 3644 | 177863 |
| Republic Services, Inc. <sup>(b)</sup> | Republic Services, Inc. <sup>(b)</sup> | 440 | 102947 |
|  |  |  | 496091 |
| **Communications Equipment - 1.0%** | **Communications Equipment - 1.0%** | **Communications Equipment - 1.0%** |  |
| Arista Networks, Inc. <sup>(a)(b)</sup> | Arista Networks, Inc. <sup>(a)(b)</sup> | 2477 | 338234 |
| Cisco Systems, Inc. <sup>(b)</sup> | Cisco Systems, Inc. <sup>(b)</sup> | 6912 | 477550 |
| Motorola Solutions, Inc. <sup>(b)</sup> | Motorola Solutions, Inc. <sup>(b)</sup> | 217 | 102524 |
|  |  |  | 918308 |
| **Construction & Engineering - 0.2%** | **Construction & Engineering - 0.2%** | **Construction & Engineering - 0.2%** |  |
| Quanta Services, Inc. <sup>(b)</sup> | Quanta Services, Inc. <sup>(b)</sup> | 616 | 232823 |
| **Construction Materials - 0.1%** | **Construction Materials - 0.1%** | **Construction Materials - 0.1%** |  |
| Vulcan Materials Co. <sup>(b)</sup> | Vulcan Materials Co. <sup>(b)</sup> | 419 | 121996 |
| **Consumer Finance - 1.0%** | **Consumer Finance - 1.0%** | **Consumer Finance - 1.0%** |  |
| American Express Co. <sup>(b)</sup> | American Express Co. <sup>(b)</sup> | 1888 | 625457 |
| Capital One Financial Corp. <sup>(b)</sup> | Capital One Financial Corp. <sup>(b)</sup> | 1025 | 232900 |
| Synchrony Financial <sup>(b)</sup> | Synchrony Financial <sup>(b)</sup> | 1464 | 111762 |
|  |  |  | 970119 |
| **Consumer Staples Distribution & Retail - 3.2%** | **Consumer Staples Distribution & Retail - 3.2%** | **Consumer Staples Distribution & Retail - 3.2%** |  |
| Costco Wholesale Corp. <sup>(b)</sup> | Costco Wholesale Corp. <sup>(b)</sup> | 1240 | 1169717 |
| Kroger Co. <sup>(b)</sup> | Kroger Co. <sup>(b)</sup> | 1805 | 122451 |
| Walmart, Inc. <sup>(b)</sup> | Walmart, Inc. <sup>(b)</sup> | 17692 | 1715770 |
|  |  |  | 3007938 |
| **Diversified Telecommunication Services - 0.4%** | **Diversified Telecommunication Services - 0.4%** | **Diversified Telecommunication Services - 0.4%** |  |
| AT&T, Inc. <sup>(b)</sup> | AT&T, Inc. <sup>(b)</sup> | 9294 | 272221 |
| Verizon Communications, Inc. <sup>(b)</sup> | Verizon Communications, Inc. <sup>(b)</sup> | 2754 | 121810 |
|  |  |  | 394031 |
| **Electric Utilities - 0.5%** | **Electric Utilities - 0.5%** | **Electric Utilities - 0.5%** |  |
| Constellation Energy Corp. <sup>(b)</sup> | Constellation Energy Corp. <sup>(b)</sup> | 1060 | 326459 |
| NextEra Energy, Inc. <sup>(b)</sup> | NextEra Energy, Inc. <sup>(b)</sup> | 1425 | 102671 |
|  |  |  | 429130 |
| **Electrical Equipment - 1.1%** | **Electrical Equipment - 1.1%** | **Electrical Equipment - 1.1%** |  |
| AMETEK, Inc. <sup>(b)</sup> | AMETEK, Inc. <sup>(b)</sup> | 606 | 111989 |
| Eaton Corp. PLC <sup>(b)</sup> | Eaton Corp. PLC <sup>(b)</sup> | 1257 | 438869 |
| Emerson Electric Co. <sup>(b)</sup> | Emerson Electric Co. <sup>(b)</sup> | 1700 | 224400 |
| GE Vernova, Inc. <sup>(b)</sup> | GE Vernova, Inc. <sup>(b)</sup> | 228 | 139757 |
| Hubbell, Inc. <sup>(b)</sup> | Hubbell, Inc. <sup>(b)</sup> | 217 | 93525 |
|  |  |  | 1008540 |
| **Electronic Equipment, Instruments & Components - 0.4%** | **Electronic Equipment, Instruments & Components - 0.4%** | **Electronic Equipment, Instruments & Components - 0.4%** |  |
| Amphenol Corp. - Class A <sup>(b)</sup> | Amphenol Corp. - Class A <sup>(b)</sup> | 1545 | 168189 |
| Corning, Inc. <sup>(b)</sup> | Corning, Inc. <sup>(b)</sup> | 2237 | 149946 |
| Keysight Technologies, Inc. <sup>(a)(b)</sup> | Keysight Technologies, Inc. <sup>(a)(b)</sup> | 629 | 102797 |
|  |  |  | 420932 |
| **Energy Equipment & Services - 0.2%** | **Energy Equipment & Services - 0.2%** | **Energy Equipment & Services - 0.2%** |  |
| Baker Hughes Co. <sup>(b)</sup> | Baker Hughes Co. <sup>(b)</sup> | 4511 | 204799 |
| **Entertainment - 2.5%** | **Entertainment - 2.5%** | **Entertainment - 2.5%** |  |
| Live Nation Entertainment, Inc. <sup>(a)(b)</sup> | Live Nation Entertainment, Inc. <sup>(a)(b)</sup> | 842 | 140185 |
| Netflix, Inc. <sup>(a)(b)</sup> | Netflix, Inc. <sup>(a)(b)</sup> | 1285 | 1552601 |
| Take-Two Interactive Software, Inc. <sup>(a)(b)</sup> | Take-Two Interactive Software, Inc. <sup>(a)(b)</sup> | 601 | 140195 |
| Walt Disney Co. <sup>(b)</sup> | Walt Disney Co. <sup>(b)</sup> | 4814 | 569881 |
|  |  |  | 2402862 |
| **Financial Services - 3.9%** | **Financial Services - 3.9%** | **Financial Services - 3.9%** |  |
| Apollo Global Management, Inc. <sup>(b)</sup> | Apollo Global Management, Inc. <sup>(b)</sup> | 1912 | 260472 |
| Corpay, Inc. <sup>(a)(b)</sup> | Corpay, Inc. <sup>(a)(b)</sup> | 201 | 65460 |
| Fiserv, Inc. <sup>(a)(b)</sup> | Fiserv, Inc. <sup>(a)(b)</sup> | 1490 | 205888 |
| Mastercard, Inc. - Class A <sup>(b)</sup> | Mastercard, Inc. - Class A <sup>(b)</sup> | 2071 | 1232846 |
| PayPal Holdings, Inc. <sup>(a)(b)</sup> | PayPal Holdings, Inc. <sup>(a)(b)</sup> | 3336 | 234154 |
| Visa, Inc. - Class A <sup>(b)</sup> | Visa, Inc. - Class A <sup>(b)</sup> | 4802 | 1689247 |
|  |  |  | 3688067 |
| **Ground Transportation - 1.0%** | **Ground Transportation - 1.0%** | **Ground Transportation - 1.0%** |  |
| CSX Corp. <sup>(b)</sup> | CSX Corp. <sup>(b)</sup> | 3166 | 102927 |
| Norfolk Southern Corp. <sup>(b)</sup> | Norfolk Southern Corp. <sup>(b)</sup> | 402 | 112552 |
| Old Dominion Freight Line, Inc. <sup>(b)</sup> | Old Dominion Freight Line, Inc. <sup>(b)</sup> | 622 | 93903 |
| Uber Technologies, Inc. <sup>(a)(b)</sup> | Uber Technologies, Inc. <sup>(a)(b)</sup> | 4743 | 444656 |
| Union Pacific Corp. <sup>(b)</sup> | Union Pacific Corp. <sup>(b)</sup> | 796 | 177962 |
|  |  |  | 932000 |
| **Health Care Equipment & Supplies - 2.3%** | **Health Care Equipment & Supplies - 2.3%** | **Health Care Equipment & Supplies - 2.3%** |  |
| Abbott Laboratories <sup>(b)</sup> | Abbott Laboratories <sup>(b)</sup> | 2755 | 365478 |
| Becton Dickinson & Co. <sup>(b)</sup> | Becton Dickinson & Co. <sup>(b)</sup> | 389 | 75069 |
| Boston Scientific Corp. <sup>(a)(b)</sup> | Boston Scientific Corp. <sup>(a)(b)</sup> | 4169 | 439830 |
| Edwards Lifesciences Corp. <sup>(a)(b)</sup> | Edwards Lifesciences Corp. <sup>(a)(b)</sup> | 1501 | 122091 |
| GE HealthCare Technologies, Inc. <sup>(b)</sup> | GE HealthCare Technologies, Inc. <sup>(b)</sup> | 1269 | 93563 |
| Intuitive Surgical, Inc. <sup>(a)(b)</sup> | Intuitive Surgical, Inc. <sup>(a)(b)</sup> | 1050 | 496960 |
| Medtronic PLC <sup>(b)</sup> | Medtronic PLC <sup>(b)</sup> | 1213 | 112579 |
| ResMed, Inc. <sup>(b)</sup> | ResMed, Inc. <sup>(b)</sup> | 411 | 112824 |
| Stryker Corp. <sup>(b)</sup> | Stryker Corp. <sup>(b)</sup> | 837 | 327610 |
|  |  |  | 2146004 |
| **Health Care Providers & Services - 0.4%** | **Health Care Providers & Services - 0.4%** | **Health Care Providers & Services - 0.4%** |  |
| Cencora, Inc. <sup>(b)</sup> | Cencora, Inc. <sup>(b)</sup> | 417 | 121602 |
| HCA Healthcare, Inc. <sup>(b)</sup> | HCA Healthcare, Inc. <sup>(b)</sup> | 394 | 159160 |
| McKesson Corp. <sup>(b)</sup> | McKesson Corp. <sup>(b)</sup> | 205 | 140761 |
|  |  |  | 421523 |
| **Hotels, Restaurants & Leisure - 2.6%** | **Hotels, Restaurants & Leisure - 2.6%** | **Hotels, Restaurants & Leisure - 2.6%** |  |
| Airbnb, Inc. - Class A <sup>(a)(b)</sup> | Airbnb, Inc. - Class A <sup>(a)(b)</sup> | 1508 | 196839 |
| Booking Holdings, Inc. <sup>(b)</sup> | Booking Holdings, Inc. <sup>(b)</sup> | 174 | 974235 |
| Carnival Corp. <sup>(a)(b)</sup> | Carnival Corp. <sup>(a)(b)</sup> | 3811 | 121533 |
| Chipotle Mexican Grill, Inc. <sup>(a)(b)</sup> | Chipotle Mexican Grill, Inc. <sup>(a)(b)</sup> | 3553 | 149723 |
| Expedia Group, Inc. <sup>(b)</sup> | Expedia Group, Inc. <sup>(b)</sup> | 651 | 139835 |
| Hilton Worldwide Holdings, Inc. <sup>(b)</sup> | Hilton Worldwide Holdings, Inc. <sup>(b)</sup> | 814 | 224713 |
| Las Vegas Sands Corp. <sup>(b)</sup> | Las Vegas Sands Corp. <sup>(b)</sup> | 2445 | 140905 |
| Marriott International, Inc. - Class A <sup>(b)</sup> | Marriott International, Inc. - Class A <sup>(b)</sup> | 803 | 215092 |
| Royal Caribbean Cruises Ltd. <sup>(b)</sup> | Royal Caribbean Cruises Ltd. <sup>(b)</sup> | 852 | 309463 |
|  |  |  | 2472338 |
| **Household Durables - 0.3%** | **Household Durables - 0.3%** | **Household Durables - 0.3%** |  |
| Garmin Ltd. <sup>(b)</sup> | Garmin Ltd. <sup>(b)</sup> | 1048 | 253427 |
| **Household Products - 0.1%** | **Household Products - 0.1%** | **Household Products - 0.1%** |  |
| Colgate-Palmolive Co. <sup>(b)</sup> | Colgate-Palmolive Co. <sup>(b)</sup> | 1225 | 102986 |
| **Independent Power and Renewable Electricity Producers - 0.3%** | **Independent Power and Renewable Electricity Producers - 0.3%** | **Independent Power and Renewable Electricity Producers - 0.3%** |  |
| Vistra Corp. <sup>(b)</sup> | Vistra Corp. <sup>(b)</sup> | 1342 | 253786 |
| **Industrial Conglomerates - 0.6%** | **Industrial Conglomerates - 0.6%** | **Industrial Conglomerates - 0.6%** |  |
| 3M Co. <sup>(b)</sup> | 3M Co. <sup>(b)</sup> | 1440 | 223963 |
| Honeywell International, Inc. <sup>(b)</sup> | Honeywell International, Inc. <sup>(b)</sup> | 1445 | 317178 |
|  |  |  | 541141 |
| **Insurance - 1.1%** | **Insurance - 1.1%** | **Insurance - 1.1%** |  |
| Aon PLC - Class A <sup>(b)</sup> | Aon PLC - Class A <sup>(b)</sup> | 612 | 224604 |
| Arthur J Gallagher & Co. <sup>(b)</sup> | Arthur J Gallagher & Co. <sup>(b)</sup> | 651 | 197090 |
| Brown & Brown, Inc. <sup>(b)</sup> | Brown & Brown, Inc. <sup>(b)</sup> | 1061 | 102864 |
| MetLife, Inc. <sup>(b)</sup> | MetLife, Inc. <sup>(b)</sup> | 1263 | 102758 |
| Progressive Corp. <sup>(b)</sup> | Progressive Corp. <sup>(b)</sup> | 833 | 205801 |
| Prudential Financial, Inc. <sup>(b)</sup> | Prudential Financial, Inc. <sup>(b)</sup> | 853 | 93540 |
| Travelers Cos., Inc. <sup>(b)</sup> | Travelers Cos., Inc. <sup>(b)</sup> | 413 | 112133 |
|  |  |  | 1038790 |
| **Interactive Media & Services - 8.2%** | **Interactive Media & Services - 8.2%** | **Interactive Media & Services - 8.2%** |  |
| Alphabet, Inc. - Class A <sup>(b)</sup> | Alphabet, Inc. - Class A <sup>(b)</sup> | 20755 | 4418947 |
| Meta Platforms, Inc. - Class A <sup>(b)</sup> | Meta Platforms, Inc. - Class A <sup>(b)</sup> | 4426 | 3269486 |
|  |  |  | 7688433 |
| **IT Services - 0.6%** | **IT Services - 0.6%** | **IT Services - 0.6%** |  |
| Gartner, Inc. <sup>(a)(b)</sup> | Gartner, Inc. <sup>(a)(b)</sup> | 224 | 56267 |
| GoDaddy, Inc. - Class A <sup>(a)(b)</sup> | GoDaddy, Inc. - Class A <sup>(a)(b)</sup> | 381 | 56506 |
| International Business Machines Corp. <sup>(b)</sup> | International Business Machines Corp. <sup>(b)</sup> | 1927 | 469205 |
|  |  |  | 581978 |
| **Life Sciences Tools & Services - 0.6%** | **Life Sciences Tools & Services - 0.6%** | **Life Sciences Tools & Services - 0.6%** |  |
| Agilent Technologies, Inc. <sup>(b)</sup> | Agilent Technologies, Inc. <sup>(b)</sup> | 597 | 75019 |
| Danaher Corp. <sup>(b)</sup> | Danaher Corp. <sup>(b)</sup> | 819 | 168567 |
| Thermo Fisher Scientific, Inc. <sup>(b)</sup> | Thermo Fisher Scientific, Inc. <sup>(b)</sup> | 608 | 299574 |
| Waters Corp. <sup>(a)(b)</sup> | Waters Corp. <sup>(a)(b)</sup> | 218 | 65792 |
|  |  |  | 608952 |
| **Machinery - 1.8%** | **Machinery - 1.8%** | **Machinery - 1.8%** |  |
| Caterpillar, Inc. <sup>(b)</sup> | Caterpillar, Inc. <sup>(b)</sup> | 1076 | 450887 |
| Cummins, Inc. <sup>(b)</sup> | Cummins, Inc. <sup>(b)</sup> | 635 | 253009 |
| Deere & Co. <sup>(b)</sup> | Deere & Co. <sup>(b)</sup> | 432 | 206772 |
| Dover Corp. <sup>(b)</sup> | Dover Corp. <sup>(b)</sup> | 574 | 102666 |
| Ingersoll Rand, Inc. <sup>(b)</sup> | Ingersoll Rand, Inc. <sup>(b)</sup> | 943 | 74902 |
| PACCAR, Inc. <sup>(b)</sup> | PACCAR, Inc. <sup>(b)</sup> | 1966 | 196561 |
| Parker-Hannifin Corp. <sup>(b)</sup> | Parker-Hannifin Corp. <sup>(b)</sup> | 418 | 317408 |
| Westinghouse Air Brake Technologies Corp. <sup>(b)</sup> | Westinghouse Air Brake Technologies Corp. <sup>(b)</sup> | 387 | 74885 |
|  |  |  | 1677090 |
| **Media - 0.1%** | **Media - 0.1%** | **Media - 0.1%** |  |
| Charter Communications, Inc. - Class A <sup>(a)(b)</sup> | Charter Communications, Inc. - Class A <sup>(a)(b)</sup> | 213 | 56568 |
| **Metals & Mining - 0.1%** | **Metals & Mining - 0.1%** | **Metals & Mining - 0.1%** |  |
| Freeport-McMoRan, Inc. <sup>(b)</sup> | Freeport-McMoRan, Inc. <sup>(b)</sup> | 2535 | 112554 |
| **Oil, Gas & Consumable Fuels - 1.4%** | **Oil, Gas & Consumable Fuels - 1.4%** | **Oil, Gas & Consumable Fuels - 1.4%** |  |
| Chevron Corp. <sup>(b)</sup> | Chevron Corp. <sup>(b)</sup> | 2559 | 410976 |
| EOG Resources, Inc. <sup>(b)</sup> | EOG Resources, Inc. <sup>(b)</sup> | 822 | 102602 |
| EQT Corp. <sup>(b)</sup> | EQT Corp. <sup>(b)</sup> | 1973 | 102280 |
| Kinder Morgan, Inc. <sup>(b)</sup> | Kinder Morgan, Inc. <sup>(b)</sup> | 7263 | 195956 |
| ONEOK, Inc. <sup>(b)</sup> | ONEOK, Inc. <sup>(b)</sup> | 1964 | 150010 |
| Targa Resources Corp. <sup>(b)</sup> | Targa Resources Corp. <sup>(b)</sup> | 1001 | 167928 |
| Williams Cos., Inc. <sup>(b)</sup> | Williams Cos., Inc. <sup>(b)</sup> | 3550 | 205474 |
|  |  |  | 1335226 |
| **Passenger Airlines - 0.3%** | **Passenger Airlines - 0.3%** | **Passenger Airlines - 0.3%** |  |
| Delta Air Lines, Inc. <sup>(b)</sup> | Delta Air Lines, Inc. <sup>(b)</sup> | 3170 | 195843 |
| United Airlines Holdings, Inc. <sup>(a)(b)</sup> | United Airlines Holdings, Inc. <sup>(a)(b)</sup> | 1065 | 111825 |
|  |  |  | 307668 |
| **Pharmaceuticals - 1.8%** | **Pharmaceuticals - 1.8%** | **Pharmaceuticals - 1.8%** |  |
| Bristol-Myers Squibb Co. <sup>(b)</sup> | Bristol-Myers Squibb Co. <sup>(b)</sup> | 3788 | 178718 |
| Eli Lilly & Co. <sup>(b)</sup> | Eli Lilly & Co. <sup>(b)</sup> | 1885 | 1380913 |
| Zoetis, Inc. <sup>(b)</sup> | Zoetis, Inc. <sup>(b)</sup> | 660 | 103224 |
|  |  |  | 1662855 |
| **Professional Services - 0.5%** | **Professional Services - 0.5%** | **Professional Services - 0.5%** |  |
| Automatic Data Processing, Inc. <sup>(b)</sup> | Automatic Data Processing, Inc. <sup>(b)</sup> | 1046 | 318037 |
| Paychex, Inc. <sup>(b)</sup> | Paychex, Inc. <sup>(b)</sup> | 673 | 93853 |
| Verisk Analytics, Inc. <sup>(b)</sup> | Verisk Analytics, Inc. <sup>(b)</sup> | 384 | 102958 |
|  |  |  | 514848 |
| **Real Estate - 1.2%** | **Real Estate - 1.2%** | **Real Estate - 1.2%** |  |
| Digital Realty Trust, Inc. <sup>(b)</sup> | Digital Realty Trust, Inc. <sup>(b)</sup> | 1066 | 178704 |
| Equinix, Inc. <sup>(b)</sup> | Equinix, Inc. <sup>(b)</sup> | 394 | 309759 |
| Iron Mountain, Inc. <sup>(b)</sup> | Iron Mountain, Inc. <sup>(b)</sup> | 1123 | 103686 |
| Simon Property Group, Inc. <sup>(b)</sup> | Simon Property Group, Inc. <sup>(b)</sup> | 1248 | 225464 |
| Welltower, Inc. <sup>(b)</sup> | Welltower, Inc. <sup>(b)</sup> | 1671 | 281196 |
|  |  |  | 1098809 |
| **Real Estate Management & Development - 0.2%** | **Real Estate Management & Development - 0.2%** | **Real Estate Management & Development - 0.2%** |  |
| CBRE Group, Inc. - Class A <sup>(a)(b)</sup> | CBRE Group, Inc. - Class A <sup>(a)(b)</sup> | 867 | 140558 |
| **Semiconductors & Semiconductor Equipment - 14.0%** | **Semiconductors & Semiconductor Equipment - 14.0%** | **Semiconductors & Semiconductor Equipment - 14.0%** |  |
| Advanced Micro Devices, Inc. <sup>(a)(b)</sup> | Advanced Micro Devices, Inc. <sup>(a)(b)</sup> | 1724 | 280374 |
| Analog Devices, Inc. <sup>(b)</sup> | Analog Devices, Inc. <sup>(b)</sup> | 409 | 102786 |
| Applied Materials, Inc. <sup>(b)</sup> | Applied Materials, Inc. <sup>(b)</sup> | 644 | 103529 |
| Broadcom, Inc. <sup>(b)</sup> | Broadcom, Inc. <sup>(b)</sup> | 11255 | 3347125 |
| KLA Corp. <sup>(b)</sup> | KLA Corp. <sup>(b)</sup> | 183 | 159576 |
| Lam Research Corp. <sup>(b)</sup> | Lam Research Corp. <sup>(b)</sup> | 1411 | 141312 |
| Micron Technology, Inc. <sup>(b)</sup> | Micron Technology, Inc. <sup>(b)</sup> | 1026 | 122104 |
| NVIDIA Corp. <sup>(b)</sup> | NVIDIA Corp. <sup>(b)</sup> | 48404 | 8431010 |
| QUALCOMM, Inc. <sup>(b)</sup> | QUALCOMM, Inc. <sup>(b)</sup> | 1922 | 308923 |
| Texas Instruments, Inc. <sup>(b)</sup> | Texas Instruments, Inc. <sup>(b)</sup> | 1065 | 215641 |
|  |  |  | 13212379 |
| **Software - 11.6%** | **Software - 11.6%** | **Software - 11.6%** |  |
| Autodesk, Inc. <sup>(a)(b)</sup> | Autodesk, Inc. <sup>(a)(b)</sup> | 360 | 113292 |
| Cadence Design Systems, Inc. <sup>(a)(b)</sup> | Cadence Design Systems, Inc. <sup>(a)(b)</sup> | 405 | 141924 |
| Crowdstrike Holdings, Inc. - Class A <sup>(a)(b)</sup> | Crowdstrike Holdings, Inc. - Class A <sup>(a)(b)</sup> | 219 | 92790 |
| Fortinet, Inc. <sup>(a)(b)</sup> | Fortinet, Inc. <sup>(a)(b)</sup> | 954 | 75147 |
| Intuit, Inc. <sup>(b)</sup> | Intuit, Inc. <sup>(b)</sup> | 419 | 279473 |
| Microsoft Corp. <sup>(b)</sup> | Microsoft Corp. <sup>(b)</sup> | 12312 | 6238367 |
| Oracle Corp. <sup>(b)</sup> | Oracle Corp. <sup>(b)</sup> | 6735 | 1522986 |
| Palantir Technologies, Inc. - Class A <sup>(a)(b)</sup> | Palantir Technologies, Inc. - Class A <sup>(a)(b)</sup> | 5899 | 924432 |
| Palo Alto Networks, Inc. <sup>(a)(b)</sup> | Palo Alto Networks, Inc. <sup>(a)(b)</sup> | 1225 | 233387 |
| Salesforce, Inc. <sup>(b)</sup> | Salesforce, Inc. <sup>(b)</sup> | 2532 | 648825 |
| ServiceNow, Inc. <sup>(a)(b)</sup> | ServiceNow, Inc. <sup>(a)(b)</sup> | 420 | 385333 |
| Synopsys, Inc. <sup>(a)(b)</sup> | Synopsys, Inc. <sup>(a)(b)</sup> | 248 | 149673 |
| Workday, Inc. - Class A <sup>(a)(b)</sup> | Workday, Inc. - Class A <sup>(a)(b)</sup> | 408 | 94175 |
|  |  |  | 10899804 |
| **Specialty Retail - 1.7%** | **Specialty Retail - 1.7%** | **Specialty Retail - 1.7%** |  |
| Home Depot, Inc. <sup>(b)</sup> | Home Depot, Inc. <sup>(b)</sup> | 1703 | 692729 |
| Lowe's Cos., Inc. <sup>(b)</sup> | Lowe's Cos., Inc. <sup>(b)</sup> | 837 | 215996 |
| O'Reilly Automotive, Inc. <sup>(a)(b)</sup> | O'Reilly Automotive, Inc. <sup>(a)(b)</sup> | 2526 | 261896 |
| Ross Stores, Inc. <sup>(b)</sup> | Ross Stores, Inc. <sup>(b)</sup> | 632 | 93005 |
| TJX Cos., Inc. <sup>(b)</sup> | TJX Cos., Inc. <sup>(b)</sup> | 2463 | 336471 |
|  |  |  | 1600097 |
| **Technology Hardware, Storage & Peripherals - 7.4%** | **Technology Hardware, Storage & Peripherals - 7.4%** | **Technology Hardware, Storage & Peripherals - 7.4%** |  |
| Apple, Inc. <sup>(b)</sup> | Apple, Inc. <sup>(b)</sup> | 29178 | 6773381 |
| Dell Technologies, Inc. - Class C <sup>(b)</sup> | Dell Technologies, Inc. - Class C <sup>(b)</sup> | 1154 | 140961 |
| Hewlett Packard Enterprise Co. <sup>(b)</sup> | Hewlett Packard Enterprise Co. <sup>(b)</sup> | 4557 | 102851 |
|  |  |  | 7017193 |
| **Textiles, Apparel & Luxury Goods - 0.2%** | **Textiles, Apparel & Luxury Goods - 0.2%** | **Textiles, Apparel & Luxury Goods - 0.2%** |  |
| Deckers Outdoor Corp. <sup>(a)(b)</sup> | Deckers Outdoor Corp. <sup>(a)(b)</sup> | 392 | 46895 |
| Lululemon Athletica, Inc. <sup>(a)(b)</sup> | Lululemon Athletica, Inc. <sup>(a)(b)</sup> | 603 | 121927 |
|  |  |  | 168822 |
| **Tobacco - 0.7%** | **Tobacco - 0.7%** | **Tobacco - 0.7%** |  |
| Altria Group, Inc. <sup>(b)</sup> | Altria Group, Inc. <sup>(b)</sup> | 3913 | 262993 |
| Philip Morris International, Inc. <sup>(b)</sup> | Philip Morris International, Inc. <sup>(b)</sup> | 2531 | 423006 |
|  |  |  | 685999 |
| **Trading Companies & Distributors - 0.6%** | **Trading Companies & Distributors - 0.6%** | **Trading Companies & Distributors - 0.6%** |  |
| Fastenal Co. <sup>(b)</sup> | Fastenal Co. <sup>(b)</sup> | 3013 | 149626 |
| United Rentals, Inc. <sup>(b)</sup> | United Rentals, Inc. <sup>(b)</sup> | 176 | 168316 |
| WW Grainger, Inc. <sup>(b)</sup> | WW Grainger, Inc. <sup>(b)</sup> | 203 | 205740 |
|  |  |  | 523682 |
| **Wireless Telecommunication Services - 0.6%** | **Wireless Telecommunication Services - 0.6%** | **Wireless Telecommunication Services - 0.6%** |  |
| T-Mobile US, Inc. <sup>(b)</sup> | T-Mobile US, Inc. <sup>(b)</sup> | 2304 | 580585 |
| **TOTAL COMMON STOCKS** (Cost $85,133,201) | **TOTAL COMMON STOCKS** (Cost $85,133,201) | **TOTAL COMMON STOCKS** (Cost $85,133,201) | 93371885 |
| **PURCHASED OPTIONS - 0.3%<sup>(a)</sup>** | **Notional Amount** | **Contracts** | **Value**  |
| **Put Options - 0.3%** | **Put Options - 0.3%** |  | $**–** |
| SPDR S&P 500 ETF Trust <sup>(c)(d)(f)</sup> | SPDR S&P 500 ETF Trust <sup>(c)(d)(f)</sup> |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Expiration: 09/04/2025; Exercise Price: $614.86 | $23673335 | 367 | 3501 |
| &nbsp;&nbsp;&nbsp;&nbsp; Expiration: 09/11/2025; Exercise Price: $630.63 | 23673335 | 367 | 62071 |
| &nbsp;&nbsp;&nbsp;&nbsp; Expiration: 09/18/2025; Exercise Price: $617.88 | 23479820 | 364 | 56930 |
| &nbsp;&nbsp;&nbsp;&nbsp; Expiration: 09/25/2025; Exercise Price: $635.03 | 23608830 | 366 | 190356 |
| **TOTAL PURCHASED OPTIONS** (Cost $597,138) | **TOTAL PURCHASED OPTIONS** (Cost $597,138) | **TOTAL PURCHASED OPTIONS** (Cost $597,138) | 312858 |
| **SHORT-TERM INVESTMENTS** | **SHORT-TERM INVESTMENTS** | **SHORT-TERM INVESTMENTS** | **SHORT-TERM INVESTMENTS** |
| **MONEY MARKET FUNDS - 0.8%** | **MONEY MARKET FUNDS - 0.8%** | **Shares** | **Value**  |
| First American Government Obligations Fund - Class X, 4.22%<sup>(e)</sup> | First American Government Obligations Fund - Class X, 4.22%<sup>(e)</sup> | 746555 | 746555 |
| **TOTAL MONEY MARKET FUNDS** (Cost $746,555) | **TOTAL MONEY MARKET FUNDS** (Cost $746,555) | **TOTAL MONEY MARKET FUNDS** (Cost $746,555) | 746555 |
| **TOTAL INVESTMENTS - 100.1% (**Cost $86,476,894**)** | **TOTAL INVESTMENTS - 100.1% (**Cost $86,476,894**)** | **TOTAL INVESTMENTS - 100.1% (**Cost $86,476,894**)** | 94431298 |
| Liabilities in Excess of Other Assets – (0.1)% | Liabilities in Excess of Other Assets – (0.1)% | Liabilities in Excess of Other Assets – (0.1)% | (109495) |
| **TOTAL NET ASSETS - 100.0%** | 0.0% | 0.0% | $94321803 |
| two | two | two | –% |
| 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. | –% |

---

PLC - Public Limited Company<br>

---

| | |
|:---|:---|
| (a) | Non-income producing security. |
| (b) | All or a portion of security has been pledged as collateral for written options. The fair value of assets committed as collateral as of August 31, 2025 is $37,381,928. |
| (c) | Exchange-traded. |
| (d) | 100 shares per contract. |
| (e)<br> (f) | The rate shown represents the 7-day annualized yield as of August 31, 2025.<br> Held in connection with a written option, see Schedule of Written Options for more details. |

---

---

| | | | |
|:---|:---|:---|:---|
| **Horizon Expedition Plus ETF** | **Horizon Expedition Plus ETF** | **Horizon Expedition Plus ETF** | **Horizon Expedition Plus ETF** |
| **Schedule of Written Options** | **Schedule of Written Options** | **Schedule of Written Options** | **Schedule of Written Options** |
| **August 31, 2025 (Unaudited)** | **August 31, 2025 (Unaudited)** | **August 31, 2025 (Unaudited)** | **August 31, 2025 (Unaudited)** |
| **WRITTEN OPTIONS - (0.6)%** | **Notional Amount** | **Contracts** | **Value** |
| **Put Options - (0.6)%** | **Put Options - (0.6)%** | **Put Options - (0.6)%** | **Put Options - (0.6)%** |
| SPDR S&P 500 ETF Trust <sup>(a)(b)</sup> |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Expiration: 09/04/2025; Exercise Price: $627.76 | $(23673335) | (367) | $(7949) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Expiration: 09/11/2025; Exercise Price: $641.73 | (23673335) | (367) | (142466) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Expiration: 09/18/2025; Exercise Price: $630.85 | (23479820) | (364) | (106510) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Expiration: 09/25/2025; Exercise Price: $645.81 | (23608830) | (366) | (309519) |
| **TOTAL WRITTEN OPTIONS** (Premiums received $970,992) |  |  | $(566444) |
| 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) Exchange-traded.

(b) 100 shares per contract.

------

#### <br> Summary of Fair Value Disclosure as of August 31, 2025 (Unaudited)
Horizon Expedition Plus ETF (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 August 31, 2025:

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **<u>Level 1</u>** | **<u>Level 2</u>** | **<u>Level 3</u>** | **<u>Total</u>** |
| **Assets:** | | | | |
| <u>Investments:</u> |  |  |  |  |
|  &nbsp;&nbsp;&nbsp;&nbsp;Common Stocks | $93371885 | $– | $– | $93371885 |
|  &nbsp;&nbsp;&nbsp;&nbsp;Purchased Options | – | 312858 | – | 312858 |
|  &nbsp;&nbsp;&nbsp;&nbsp;Money Market Funds | 746555 | – | – | 746555 |
| Total Investments | $94118440 | $312858 | $– | $94431298 |
| **Liabilities:** |  |  |  |  |
| <u>Investments:</u> |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Written Options | $– | $(566444) | $– | $(566444) |
| Total Investments | $– | $(566444) | $– | $(566444) |
| 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 Expedition Plus ETF

- **b. EDGAR series identifier (if any):** S000089818

- **c. LEI of Series:** 529900O23D8XNX3YG402

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

- **a. Date of fiscal year-end:** 2025-11-30

- **b. Date as of which information is reported:** 2025-08-31

**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:** $94952885.50

**Total Liabilities:** $630166.84

**Net Assets:** $94322718.66

**Cash Not Reported:** $488228.55

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000256618 | 7.03%                | 3.64%                | 1.86%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $0.00                    | $2098347.28                                |
| Month 2  | $268487.92               | $946483.11                                 |
| Month 3  | $2.14                    | $1285778.08                                |

**Designated Index Information**

- **Index Name:** S&P 500 Total Return Index

- **Index Identifier:** SPTR

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| N/A                            | SPY 09/18/2025 617.88 P                    | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |       364 | NC      | $56929.60     | 0.06%             |  |  |  | No            |                  2 | On Loan: No      |
| N/A                            | SPY 09/18/2025 630.85 P                    | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |      -364 | NC      | $-106510.04   | -0.11%            |  |  |  | No            |                  2 | On Loan: No      |
| N/A                            | SPY 09/25/2025 635.03 P                    | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |       366 | NC      | $190356.60    | 0.20%             |  |  |  | No            |                  2 | On Loan: No      |
| N/A                            | SPY 09/25/2025 645.81 P                    | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |      -366 | NC      | $-309518.88   | -0.33%            |  |  |  | No            |                  2 | On Loan: No      |
| Nasdaq Inc                     | Nasdaq Inc                                 | CUSIP: 631103108<br>LEI: 549300L8X1Q78ERXFD06 | Long             | EC               | CORP              | US        |      2288 | NS      | $216765.12    | 0.23%             |  |  |  | No            |                  1 | On Loan: No      |
| Netflix Inc                    | Netflix Inc                                | CUSIP: 64110L106<br>LEI: 549300Y7VHGU0I7CE873 | Long             | EC               | CORP              | US        |      1056 | NS      | $1275912.00   | 1.35%             |  |  |  | No            |                  1 | On Loan: No      |
| NextEra Energy Inc             | NextEra Energy Inc                         | CUSIP: 65339F101<br>LEI: 254900RHL9MEUS5NKX63 | Long             | EC               | CORP              | US        |      1232 | NS      | $88765.60     | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| Norfolk Southern Corp          | Norfolk Southern Corp                      | CUSIP: 655844108<br>LEI: 54930036C8MWP850MI84 | Long             | EC               | CORP              | US        |       352 | NS      | $98552.96     | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| NVIDIA Corp                    | NVIDIA Corp                                | CUSIP: 67066G104<br>LEI: 549300S4KLFTLO7GSQ80 | Long             | EC               | CORP              | US        |     59509 | NS      | $10365277.62  | 10.99%            |  |  |  | No            |                  1 | On Loan: No      |
| O'Reilly Automotive Inc        | O'Reilly Automotive Inc                    | CUSIP: 67103H107<br>LEI: 549300K2RLMQL149Q332 | Long             | EC               | CORP              | US        |      2109 | NS      | $218661.12    | 0.23%             |  |  |  | No            |                  1 | On Loan: No      |
| Old Dominion Freight Line Inc  | Old Dominion Freight Line Inc              | CUSIP: 679580100<br>LEI: 5299009TWK32WE417T96 | Long             | EC               | CORP              | US        |       528 | NS      | $79712.16     | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| ONEOK Inc                      | ONEOK Inc                                  | CUSIP: 682680103<br>LEI: 2T3D6M0JSY48PSZI1Q41 | Long             | EC               | CORP              | US        |      1584 | NS      | $120985.92    | 0.13%             |  |  |  | No            |                  1 | On Loan: No      |
| Oracle Corp                    | Oracle Corp                                | CUSIP: 68389X105<br>LEI: 1Z4GXXU7ZHVWFCD8TV52 | Long             | EC               | CORP              | US        |      5304 | NS      | $1199393.52   | 1.27%             |  |  |  | No            |                  1 | On Loan: No      |
| PACCAR Inc                     | PACCAR Inc                                 | CUSIP: 693718108<br>LEI: KDTEY8BWE486IKZ3CC07 | Long             | EC               | CORP              | US        |      1584 | NS      | $158368.32    | 0.17%             |  |  |  | No            |                  1 | On Loan: No      |
| Palantir Technologies Inc      | Palantir Technologies Inc                  | CUSIP: 69608A108<br>LEI: 549300UVN46B3BBDHO85 | Long             | EC               | CORP              | US        |      4928 | NS      | $772266.88    | 0.82%             |  |  |  | No            |                  1 | On Loan: No      |
| Palo Alto Networks Inc         | Palo Alto Networks Inc                     | CUSIP: 697435105<br>LEI: 549300QXR2YVZV231H43 | Long             | EC               | CORP              | US        |      1025 | NS      | $195283.00    | 0.21%             |  |  |  | No            |                  1 | On Loan: No      |
| Parker-Hannifin Corp           | Parker-Hannifin Corp                       | CUSIP: 701094104<br>LEI: 5493002CONDB4N2HKI23 | Long             | EC               | CORP              | US        |       352 | NS      | $267291.20    | 0.28%             |  |  |  | No            |                  1 | On Loan: No      |
| Paychex Inc                    | Paychex Inc                                | CUSIP: 704326107<br>LEI: 529900K900DW6SUBM174 | Long             | EC               | CORP              | US        |       528 | NS      | $73632.24     | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| PayPal Holdings Inc            | PayPal Holdings Inc                        | CUSIP: 70450Y103<br>LEI: 5493005X2GO78EFZ3E94 | Long             | EC               | CORP              | US        |      2816 | NS      | $197655.04    | 0.21%             |  |  |  | No            |                  1 | On Loan: No      |
| KLA Corp                       | KLA Corp                                   | CUSIP: 482480100<br>LEI: 549300H0BF5JCG96TJ81 | Long             | EC               | CORP              | US        |       153 | NS      | $133416.00    | 0.14%             |  |  |  | No            |                  1 | On Loan: No      |
| CSX Corp                       | CSX Corp                                   | CUSIP: 126408103<br>LEI: 549300JVQR4N1MMP3Q88 | Long             | EC               | CORP              | US        |      2640 | NS      | $85826.40     | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| Costco Wholesale Corp          | Costco Wholesale Corp                      | CUSIP: 22160K105<br>LEI: 29DX7H14B9S6O3FD6V18 | Long             | EC               | CORP              | US        |      1037 | NS      | $978222.84    | 1.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Crowdstrike Holdings Inc       | Crowdstrike Holdings Inc                   | CUSIP: 22788C105<br>LEI: 549300YBY08K9KM4HX32 | Long             | EC               | CORP              | US        |       176 | NS      | $74571.20     | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| Cummins Inc                    | Cummins Inc                                | CUSIP: 231021106<br>LEI: ZUNI8PYC725B6H8JU438 | Long             | EC               | CORP              | US        |       522 | NS      | $207985.68    | 0.22%             |  |  |  | No            |                  1 | On Loan: No      |
| Danaher Corp                   | Danaher Corp                               | CUSIP: 235851102<br>LEI: S4BKK9OTCEWQ3YHPFM11 | Long             | EC               | CORP              | US        |       704 | NS      | $144897.28    | 0.15%             |  |  |  | No            |                  1 | On Loan: No      |
| Deckers Outdoor Corp           | Deckers Outdoor Corp                       | CUSIP: 243537107<br>LEI: 5493008LG4W3I6K8J118 | Long             | EC               | CORP              | US        |       352 | NS      | $42109.76     | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Deere & Co                     | Deere & Co                                 | CUSIP: 244199105<br>LEI: PWFTNG3EI0Y73OXWDH08 | Long             | EC               | CORP              | US        |       352 | NS      | $168481.28    | 0.18%             |  |  |  | No            |                  1 | On Loan: No      |
| Dell Technologies Inc          | Dell Technologies Inc                      | CUSIP: 24703L202<br>LEI: 549300TJB5YBRUPOG437 | Long             | EC               | CORP              | US        |       880 | NS      | $107492.00    | 0.11%             |  |  |  | No            |                  1 | On Loan: No      |
| Delta Air Lines Inc            | Delta Air Lines Inc                        | CUSIP: 247361702<br>LEI: Q2CCMS6R0AS67HJMBN42 | Long             | EC               | CORP              | US        |      2640 | NS      | $163099.20    | 0.17%             |  |  |  | No            |                  1 | On Loan: No      |
| Digital Realty Trust Inc       | Digital Realty Trust Inc                   | CUSIP: 253868103<br>LEI: 549300HKCZ31D08NEI41 | Long             | EC               | CORP              | US        |       911 | NS      | $152720.04    | 0.16%             |  |  |  | No            |                  1 | On Loan: No      |
| Dover Corp                     | Dover Corp                                 | CUSIP: 260003108<br>LEI: 549300FMC2ALGA7N9E80 | Long             | EC               | CORP              | US        |       496 | NS      | $88714.56     | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| EOG Resources Inc              | EOG Resources Inc                          | CUSIP: 26875P101<br>LEI: XWTZDRYZPBUHIQBKDB46 | Long             | EC               | CORP              | US        |       704 | NS      | $87873.28     | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| EQT Corp                       | EQT Corp                                   | CUSIP: 26884L109<br>LEI: 4NT01YGM4X7ZX86ISY52 | Long             | EC               | CORP              | US        |      1584 | NS      | $82114.56     | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| eBay Inc                       | eBay Inc                                   | CUSIP: 278642103<br>LEI: OML71K8X303XQONU6T67 | Long             | EC               | CORP              | US        |      1408 | NS      | $127578.88    | 0.14%             |  |  |  | No            |                  1 | On Loan: No      |
| Ecolab Inc                     | Ecolab Inc                                 | CUSIP: 278865100<br>LEI: 82DYEISM090VG8LTLS26 | Long             | EC               | CORP              | US        |       352 | NS      | $97518.08     | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| Edwards Lifesciences Corp      | Edwards Lifesciences Corp                  | CUSIP: 28176E108<br>LEI: YA13X31F3V31L8TMPR58 | Long             | EC               | CORP              | US        |      1232 | NS      | $100210.88    | 0.11%             |  |  |  | No            |                  1 | On Loan: No      |
| Emerson Electric Co            | Emerson Electric Co                        | CUSIP: 291011104<br>LEI: FGLT0EWZSUIRRITFOA30 | Long             | EC               | CORP              | US        |      1408 | NS      | $185856.00    | 0.20%             |  |  |  | No            |                  1 | On Loan: No      |
| Eli Lilly & Co                 | Eli Lilly & Co                             | CUSIP: 532457108<br>LEI: FRDRIPF3EKNDJ2CQJL29 | Long             | EC               | CORP              | US        |      1569 | NS      | $1149418.02   | 1.22%             |  |  |  | No            |                  1 | On Loan: No      |
| Eaton Corp PLC                 | Eaton Corp PLC                             | CUSIP: N/A<br>LEI: 549300VDIGTMXUNT7H71       | Long             | EC               | CORP              | IE        |      1034 | NS      | $361010.76    | 0.38%             |  |  |  | No            |                  1 | On Loan: No      |
| AT&T Inc                       | AT&T Inc                                   | CUSIP: 00206R102<br>LEI: 549300Z40J86GGSTL398 | Long             | EC               | CORP              | US        |      7920 | NS      | $231976.80    | 0.25%             |  |  |  | No            |                  1 | On Loan: No      |
| Autodesk Inc                   | Autodesk Inc                               | CUSIP: 052769106<br>LEI: FRKKVKAIQEF3FCSTPG55 | Long             | EC               | CORP              | US        |       331 | NS      | $104165.70    | 0.11%             |  |  |  | No            |                  1 | On Loan: No      |
| Automatic Data Processing Inc  | Automatic Data Processing Inc              | CUSIP: 053015103<br>LEI: HGBOLILQXWER4SAL2I23 | Long             | EC               | CORP              | US        |       880 | NS      | $267564.00    | 0.28%             |  |  |  | No            |                  1 | On Loan: No      |
| Axon Enterprise Inc            | Axon Enterprise Inc                        | CUSIP: 05464C101<br>LEI: 549300QP2IEEGFE16681 | Long             | EC               | CORP              | US        |       329 | NS      | $245858.41    | 0.26%             |  |  |  | No            |                  1 | On Loan: No      |
| Baker Hughes Co                | Baker Hughes Co                            | CUSIP: 05722G100<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      3696 | NS      | $167798.40    | 0.18%             |  |  |  | No            |                  1 | On Loan: No      |
| Bank of America Corp           | Bank of America Corp                       | CUSIP: 060505104<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | EC               | CORP              | US        |     14790 | NS      | $750444.60    | 0.80%             |  |  |  | No            |                  1 | On Loan: No      |
| Becton Dickinson & Co          | Becton Dickinson & Co                      | CUSIP: 075887109<br>LEI: ICE2EP6D98PQUILVRZ91 | Long             | EC               | CORP              | US        |       352 | NS      | $67928.96     | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| Blackstone Inc                 | Blackstone Inc                             | CUSIP: 09260D107<br>LEI: 5299004LW4QWGZUB8Y96 | Long             | EC               | CORP              | US        |      1936 | NS      | $331830.40    | 0.35%             |  |  |  | No            |                  1 | On Loan: No      |
| Blackrock Inc                  | Blackrock Inc                              | CUSIP: 09290D101<br>LEI: 529900VBK42Y5HHRMD23 | Long             | EC               | CORP              | US        |       352 | NS      | $396753.28    | 0.42%             |  |  |  | No            |                  1 | On Loan: No      |
| Booking Holdings Inc           | Booking Holdings Inc                       | CUSIP: 09857L108<br>LEI: FXM8FAOHMYDIPD38UZ17 | Long             | EC               | CORP              | US        |       144 | NS      | $806263.20    | 0.85%             |  |  |  | No            |                  1 | On Loan: No      |
| Equinix Inc                    | Equinix Inc                                | CUSIP: 29444U700<br>LEI: 549300EVUN2BTLJ3GT74 | Long             | EC               | CORP              | US        |       327 | NS      | $257084.13    | 0.27%             |  |  |  | No            |                  1 | On Loan: No      |
| Expedia Group Inc              | Expedia Group Inc                          | CUSIP: 30212P303<br>LEI: N/A                  | Long             | EC               | CORP              | US        |       528 | NS      | $113414.40    | 0.12%             |  |  |  | No            |                  1 | On Loan: No      |
| Fastenal Co                    | Fastenal Co                                | CUSIP: 311900104<br>LEI: 529900PP0C7H2HHPSJ32 | Long             | EC               | CORP              | US        |      2464 | NS      | $122362.24    | 0.13%             |  |  |  | No            |                  1 | On Loan: No      |
| FedEx Corp                     | FedEx Corp                                 | CUSIP: 31428X106<br>LEI: 549300E707U7WNPZN687 | Long             | EC               | CORP              | US        |       352 | NS      | $81336.64     | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| First American Government Obli | First American Government Obligations Fund | CUSIP: 31846V336<br>LEI: 549300R5MYM6VZF1RM44 | Long             | STIV             | RF                | US        |    745894 | NS      | $745894.36    | 0.79%             |  |  |  | No            |                  1 | On Loan: No      |
| Fiserv Inc                     | Fiserv Inc                                 | CUSIP: 337738108<br>LEI: GI7UBEJLXYLGR2C7GV83 | Long             | EC               | CORP              | US        |      1232 | NS      | $170237.76    | 0.18%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                            | SPY 09/04/2025 614.86 P                    | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |       367 | NC      | $3501.18      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| N/A                            | SPY 09/04/2025 627.76 P                    | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |      -367 | NC      | $-7949.22     | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| N/A                            | SPY 09/11/2025 630.63 P                    | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |       367 | NC      | $62070.71     | 0.07%             |  |  |  | No            |                  2 | On Loan: No      |
| N/A                            | SPY 09/11/2025 641.73 P                    | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |      -367 | NC      | $-142465.73   | -0.15%            |  |  |  | No            |                  2 | On Loan: No      |
| MSCI Inc                       | MSCI Inc                                   | CUSIP: 55354G100<br>LEI: 549300HTIN2PD78UB763 | Long             | EC               | CORP              | US        |       163 | NS      | $92538.36     | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| Motorola Solutions Inc         | Motorola Solutions Inc                     | CUSIP: 620076307<br>LEI: 6S552MUG6KGJVEBSEC55 | Long             | EC               | CORP              | US        |       176 | NS      | $83152.96     | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| Welltower Inc                  | Welltower Inc                              | CUSIP: 95040Q104<br>LEI: 254900F33BIAR82QTA19 | Long             | EC               | CORP              | US        |      1408 | NS      | $236938.24    | 0.25%             |  |  |  | No            |                  1 | On Loan: No      |
| Kroger Co/The                  | Kroger Co/The                              | CUSIP: 501044101<br>LEI: 6CPEOKI6OYJ13Q6O7870 | Long             | EC               | CORP              | US        |      1584 | NS      | $107458.56    | 0.11%             |  |  |  | No            |                  1 | On Loan: No      |
| Lam Research Corp              | Lam Research Corp                          | CUSIP: 512807306<br>LEI: 549300I4GMO6D34U1T02 | Long             | EC               | CORP              | US        |      1056 | NS      | $105758.40    | 0.11%             |  |  |  | No            |                  1 | On Loan: No      |
| Las Vegas Sands Corp           | Las Vegas Sands Corp                       | CUSIP: 517834107<br>LEI: 549300DUOO1KXOHPM605 | Long             | EC               | CORP              | US        |      1936 | NS      | $111571.68    | 0.12%             |  |  |  | No            |                  1 | On Loan: No      |
| Lennox International Inc       | Lennox International Inc                   | CUSIP: 526107107<br>LEI: S7DWAC87RDMPBF77GJ92 | Long             | EC               | CORP              | US        |       160 | NS      | $89257.60     | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| Live Nation Entertainment Inc  | Live Nation Entertainment Inc              | CUSIP: 538034109<br>LEI: 5493007B9BM9ZXJINO78 | Long             | EC               | CORP              | US        |       704 | NS      | $117208.96    | 0.12%             |  |  |  | No            |                  1 | On Loan: No      |
| Lowe's Cos Inc                 | Lowe's Cos Inc                             | CUSIP: 548661107<br>LEI: WAFCR4OKGSC504WU3E95 | Long             | EC               | CORP              | US        |       704 | NS      | $181674.24    | 0.19%             |  |  |  | No            |                  1 | On Loan: No      |
| Lululemon Athletica Inc        | Lululemon Athletica Inc                    | CUSIP: 550021109<br>LEI: 549300D9GZ4BMLDW5T40 | Long             | EC               | CORP              | CA        |       504 | NS      | $101908.80    | 0.11%             |  |  |  | No            |                  1 | On Loan: No      |
| M&T Bank Corp                  | M&T Bank Corp                              | CUSIP: 55261F104<br>LEI: 549300WYXDDBYRASEG81 | Long             | EC               | CORP              | US        |       383 | NS      | $77235.78     | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| Marriott International Inc/MD  | Marriott International Inc/MD              | CUSIP: 571903202<br>LEI: 225YDZ14ZO8E1TXUSU86 | Long             | EC               | CORP              | US        |       674 | NS      | $180537.64    | 0.19%             |  |  |  | No            |                  1 | On Loan: No      |
| Mastercard Inc                 | Mastercard Inc                             | CUSIP: 57636Q104<br>LEI: AR5L2ODV9HN37376R084 | Long             | EC               | CORP              | US        |      1760 | NS      | $1047710.40   | 1.11%             |  |  |  | No            |                  1 | On Loan: No      |
| McKesson Corp                  | McKesson Corp                              | CUSIP: 58155Q103<br>LEI: 549300WZWOM80UCFSF54 | Long             | EC               | CORP              | US        |       165 | NS      | $113295.60    | 0.12%             |  |  |  | No            |                  1 | On Loan: No      |
| Linde PLC                      | Linde PLC                                  | CUSIP: N/A<br>LEI: 5299003QR1WT0EF88V51       | Long             | EC               | CORP              | US        |       352 | NS      | $168358.08    | 0.18%             |  |  |  | No            |                  1 | On Loan: No      |
| General Motors Co              | General Motors Co                          | CUSIP: 37045V100<br>LEI: 54930070NSV60J38I987 | Long             | EC               | CORP              | US        |      3520 | NS      | $206236.80    | 0.22%             |  |  |  | No            |                  1 | On Loan: No      |
| Gilead Sciences Inc            | Gilead Sciences Inc                        | CUSIP: 375558103<br>LEI: 549300WTZWR07K8MNV44 | Long             | EC               | CORP              | US        |      1936 | NS      | $218709.92    | 0.23%             |  |  |  | No            |                  1 | On Loan: No      |
| GoDaddy Inc                    | GoDaddy Inc                                | CUSIP: 380237107<br>LEI: 549300J8H1TB0I2CB447 | Long             | EC               | CORP              | US        |       352 | NS      | $52205.12     | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| Goldman Sachs Group Inc/The    | Goldman Sachs Group Inc/The                | CUSIP: 38141G104<br>LEI: 784F5XWPLTWKTBV3E584 | Long             | EC               | CORP              | US        |       704 | NS      | $524656.00    | 0.56%             |  |  |  | No            |                  1 | On Loan: No      |
| Philip Morris International In | Philip Morris International Inc            | CUSIP: 718172109<br>LEI: HL3H1H2BGXWVG3BSWR90 | Long             | EC               | CORP              | US        |      2112 | NS      | $352978.56    | 0.37%             |  |  |  | No            |                  1 | On Loan: No      |
| Progressive Corp/The           | Progressive Corp/The                       | CUSIP: 743315103<br>LEI: 529900TACNVLY9DCR586 | Long             | EC               | CORP              | US        |       704 | NS      | $173930.24    | 0.18%             |  |  |  | No            |                  1 | On Loan: No      |
| Prudential Financial Inc       | Prudential Financial Inc                   | CUSIP: 744320102<br>LEI: 5PRBRS5FEH7NREC8OR45 | Long             | EC               | CORP              | US        |       704 | NS      | $77200.64     | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| QUALCOMM Inc                   | QUALCOMM Inc                               | CUSIP: 747525103<br>LEI: H1J8DDZKZP6H7RWC0H53 | Long             | EC               | CORP              | US        |      1584 | NS      | $254596.32    | 0.27%             |  |  |  | No            |                  1 | On Loan: No      |
| HCA Healthcare Inc             | HCA Healthcare Inc                         | CUSIP: 40412C101<br>LEI: 529900PH4ZGUH2MNEU89 | Long             | EC               | CORP              | US        |       325 | NS      | $131287.00    | 0.14%             |  |  |  | No            |                  1 | On Loan: No      |
| Hewlett Packard Enterprise Co  | Hewlett Packard Enterprise Co              | CUSIP: 42824C109<br>LEI: 549300BX44RGX6ANDV88 | Long             | EC               | CORP              | US        |      3872 | NS      | $87391.04     | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| Hilton Worldwide Holdings Inc  | Hilton Worldwide Holdings Inc              | CUSIP: 43300A203<br>LEI: 549300HVGPK36ICB0B89 | Long             | EC               | CORP              | US        |       704 | NS      | $194346.24    | 0.21%             |  |  |  | No            |                  1 | On Loan: No      |
| Home Depot Inc/The             | Home Depot Inc/The                         | CUSIP: 437076102<br>LEI: QEKMOTMBBKA8I816DO57 | Long             | EC               | CORP              | US        |      1431 | NS      | $582087.87    | 0.62%             |  |  |  | No            |                  1 | On Loan: No      |
| Honeywell International Inc    | Honeywell International Inc                | CUSIP: 438516106<br>LEI: ISRPG12PN4EIEOEMW547 | Long             | EC               | CORP              | US        |      1206 | NS      | $264717.00    | 0.28%             |  |  |  | No            |                  1 | On Loan: No      |
| Howmet Aerospace Inc           | Howmet Aerospace Inc                       | CUSIP: 443201108<br>LEI: 549300HO5WFZUT5N2T22 | Long             | EC               | CORP              | US        |      1408 | NS      | $245132.80    | 0.26%             |  |  |  | No            |                  1 | On Loan: No      |
| Hubbell Inc                    | Hubbell Inc                                | CUSIP: 443510607<br>LEI: 54930088VDQ6840Y6597 | Long             | EC               | CORP              | US        |       176 | NS      | $75854.24     | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| Ingersoll Rand Inc             | Ingersoll Rand Inc                         | CUSIP: 45687V106<br>LEI: 5299004C02FMZCUOIR50 | Long             | EC               | CORP              | US        |       880 | NS      | $69898.40     | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| IBM                            | International Business Machines Corp       | CUSIP: 459200101<br>LEI: VGRQXHF3J8VDLUA7XE92 | Long             | EC               | CORP              | US        |      1584 | NS      | $385688.16    | 0.41%             |  |  |  | No            |                  1 | On Loan: No      |
| Intuit Inc                     | Intuit Inc                                 | CUSIP: 461202103<br>LEI: VI90HBPH7XSFMB9E4M29 | Long             | EC               | CORP              | US        |       352 | NS      | $234784.00    | 0.25%             |  |  |  | No            |                  1 | On Loan: No      |
| Intuitive Surgical Inc         | Intuitive Surgical Inc                     | CUSIP: 46120E602<br>LEI: 54930052SRG011710797 | Long             | EC               | CORP              | US        |       880 | NS      | $416499.60    | 0.44%             |  |  |  | No            |                  1 | On Loan: No      |
| Iron Mountain Inc              | Iron Mountain Inc                          | CUSIP: 46284V101<br>LEI: SQL3F6CKNNBM3SQGHX24 | Long             | EC               | CORP              | US        |       880 | NS      | $81250.40     | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| JPMorgan Chase & Co            | JPMorgan Chase & Co                        | CUSIP: 46625H100<br>LEI: 8I5DZWZKVSZI1NUHU748 | Long             | EC               | CORP              | US        |      5992 | NS      | $1806108.64   | 1.91%             |  |  |  | No            |                  1 | On Loan: No      |
| KKR & Co Inc                   | KKR & Co Inc                               | CUSIP: 48251W104<br>LEI: 54930013V5I303TF9571 | Long             | EC               | CORP              | US        |      2288 | NS      | $319153.12    | 0.34%             |  |  |  | No            |                  1 | On Loan: No      |
| Keysight Technologies Inc      | Keysight Technologies Inc                  | CUSIP: 49338L103<br>LEI: 549300GLKVIO8YRCYN02 | Long             | EC               | CORP              | US        |       528 | NS      | $86291.04     | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| Kinder Morgan Inc              | Kinder Morgan Inc                          | CUSIP: 49456B101<br>LEI: 549300WR7IX8XE0TBO16 | Long             | EC               | CORP              | US        |      5808 | NS      | $156699.84    | 0.17%             |  |  |  | No            |                  1 | On Loan: No      |
| Johnson Controls International | Johnson Controls International plc         | CUSIP: N/A<br>LEI: 549300XQ6S1GYKGBL205       | Long             | EC               | CORP              | US        |      2112 | NS      | $225751.68    | 0.24%             |  |  |  | No            |                  1 | On Loan: No      |
| Amazon.com Inc                 | Amazon.com Inc                             | CUSIP: 023135106<br>LEI: ZXTILKJKG63JELOEG630 | Long             | EC               | CORP              | US        |     25885 | NS      | $5927665.00   | 6.28%             |  |  |  | No            |                  1 | On Loan: No      |
| American Express Co            | American Express Co                        | CUSIP: 025816109<br>LEI: R4PP93JZOLY261QX3811 | Long             | EC               | CORP              | US        |      1609 | NS      | $533029.52    | 0.57%             |  |  |  | No            |                  1 | On Loan: No      |
| Ameriprise Financial Inc       | Ameriprise Financial Inc                   | CUSIP: 03076C106<br>LEI: 6ZLKQF7QB6JAEKQS5388 | Long             | EC               | CORP              | US        |       337 | NS      | $173490.97    | 0.18%             |  |  |  | No            |                  1 | On Loan: No      |
| AMETEK Inc                     | AMETEK Inc                                 | CUSIP: 031100100<br>LEI: 549300WZDEF9KKE40E98 | Long             | EC               | CORP              | US        |       528 | NS      | $97574.40     | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| Copart Inc                     | Copart Inc                                 | CUSIP: 217204106<br>LEI: 549300KVYX3JWMYEHU61 | Long             | EC               | CORP              | US        |      3168 | NS      | $154630.08    | 0.16%             |  |  |  | No            |                  1 | On Loan: No      |
| Corning Inc                    | Corning Inc                                | CUSIP: 219350105<br>LEI: 549300X2937PB0CJ7I56 | Long             | EC               | CORP              | US        |      1760 | NS      | $117972.80    | 0.13%             |  |  |  | No            |                  1 | On Loan: No      |
| Corpay Inc                     | Corpay Inc                                 | CUSIP: 219948106<br>LEI: 549300DG6RR0NQSFLN74 | Long             | EC               | CORP              | US        |       176 | NS      | $57317.92     | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| Corteva Inc                    | Corteva Inc                                | CUSIP: 22052L104<br>LEI: 549300WZN9I2QKLS0O94 | Long             | EC               | CORP              | US        |      1408 | NS      | $104459.52    | 0.11%             |  |  |  | No            |                  1 | On Loan: No      |
| WW Grainger Inc                | WW Grainger Inc                            | CUSIP: 384802104<br>LEI: 549300TWZSP6O1IH2V34 | Long             | EC               | CORP              | US        |       168 | NS      | $170268.00    | 0.18%             |  |  |  | No            |                  1 | On Loan: No      |
| TJX Cos Inc/The                | TJX Cos Inc/The                            | CUSIP: 872540109<br>LEI: V167QI9I69W364E2DY52 | Long             | EC               | CORP              | US        |      2112 | NS      | $288520.32    | 0.31%             |  |  |  | No            |                  1 | On Loan: No      |
| T-Mobile US Inc                | T-Mobile US Inc                            | CUSIP: 872590104<br>LEI: 549300QHIJYOHPACPG31 | Long             | EC               | CORP              | US        |      1936 | NS      | $487852.64    | 0.52%             |  |  |  | No            |                  1 | On Loan: No      |
| Thermo Fisher Scientific Inc   | Thermo Fisher Scientific Inc               | CUSIP: 883556102<br>LEI: HCHV7422L5HDJZCRFL38 | Long             | EC               | CORP              | US        |       504 | NS      | $248330.88    | 0.26%             |  |  |  | No            |                  1 | On Loan: No      |
| Westinghouse Air Brake Technol | Westinghouse Air Brake Technologies Corp   | CUSIP: 929740108<br>LEI: 06BTX5UWZD0GQ5N5Y745 | Long             | EC               | CORP              | US        |       352 | NS      | $68112.00     | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| Williams Cos Inc/The           | Williams Cos Inc/The                       | CUSIP: 969457100<br>LEI: D71FAKCBLFS2O0RBPG08 | Long             | EC               | CORP              | US        |      2992 | NS      | $173176.96    | 0.18%             |  |  |  | No            |                  1 | On Loan: No      |
| Workday Inc                    | Workday Inc                                | CUSIP: 98138H101<br>LEI: 549300J0DYC0N31V7G13 | Long             | EC               | CORP              | US        |       352 | NS      | $81248.64     | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| Zoetis Inc                     | Zoetis Inc                                 | CUSIP: 98978V103<br>LEI: 549300HD9Q1LOC9KLJ48 | Long             | EC               | CORP              | US        |       528 | NS      | $82579.20     | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| Trane Technologies PLC         | Trane Technologies PLC                     | CUSIP: N/A<br>LEI: 549300BURLR9SLYY2705       | Long             | EC               | CORP              | IE        |       689 | NS      | $286348.40    | 0.30%             |  |  |  | No            |                  1 | On Loan: No      |
| Fortinet Inc                   | Fortinet Inc                               | CUSIP: 34959E109<br>LEI: 549300O0QJWDBAS0QX03 | Long             | EC               | CORP              | US        |       880 | NS      | $69317.60     | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| Freeport-McMoRan Inc           | Freeport-McMoRan Inc                       | CUSIP: 35671D857<br>LEI: 549300IRDTHJQ1PVET45 | Long             | EC               | CORP              | US        |      2112 | NS      | $93772.80     | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| GE HealthCare Technologies Inc | GE HealthCare Technologies Inc             | CUSIP: 36266G107<br>LEI: 549300OI9J7XOWZMUN85 | Long             | EC               | CORP              | US        |      1056 | NS      | $77858.88     | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| Gartner Inc                    | Gartner Inc                                | CUSIP: 366651107<br>LEI: PP55B5R38BFB8O8HH686 | Long             | EC               | CORP              | US        |       176 | NS      | $44209.44     | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| GE Vernova Inc                 | GE Vernova Inc                             | CUSIP: 36828A101<br>LEI: 254900DP080RU6OK2553 | Long             | EC               | CORP              | US        |       176 | NS      | $107882.72    | 0.11%             |  |  |  | No            |                  1 | On Loan: No      |
| General Electric Co            | General Electric Co                        | CUSIP: 369604301<br>LEI: 3C7474T6CDKPR9K6YT90 | Long             | EC               | CORP              | US        |      2312 | NS      | $636262.40    | 0.67%             |  |  |  | No            |                  1 | On Loan: No      |
| Garmin Ltd                     | Garmin Ltd                                 | CUSIP: N/A<br>LEI: 2549001E0HIPIJQ0W046       | Long             | EC               | CORP              | CH        |       850 | NS      | $205547.00    | 0.22%             |  |  |  | No            |                  1 | On Loan: No      |
| Amphenol Corp                  | Amphenol Corp                              | CUSIP: 032095101<br>LEI: 549300D3L3G0R4U4VT04 | Long             | EC               | CORP              | US        |      1232 | NS      | $134115.52    | 0.14%             |  |  |  | No            |                  1 | On Loan: No      |
| Analog Devices Inc             | Analog Devices Inc                         | CUSIP: 032654105<br>LEI: GYVOE5EZ4GDAVTU4CQ61 | Long             | EC               | CORP              | US        |       352 | NS      | $88461.12     | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| Apollo Global Management Inc   | Apollo Global Management Inc               | CUSIP: 03769M106<br>LEI: 254900LMFT1CY9IYB476 | Long             | EC               | CORP              | US        |      1584 | NS      | $215788.32    | 0.23%             |  |  |  | No            |                  1 | On Loan: No      |
| Apple Inc                      | Apple Inc                                  | CUSIP: 037833100<br>LEI: HWUPKR0MPOU8FGXBT394 | Long             | EC               | CORP              | US        |     33435 | NS      | $7761600.90   | 8.23%             |  |  |  | No            |                  1 | On Loan: No      |
| Applied Materials Inc          | Applied Materials Inc                      | CUSIP: 038222105<br>LEI: 41BNNE1AFPNAZELZ6K07 | Long             | EC               | CORP              | US        |       528 | NS      | $84881.28     | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| Arista Networks Inc            | Arista Networks Inc                        | CUSIP: 040413205<br>LEI: 635400H1WKBLOQERUU95 | Long             | EC               | CORP              | US        |      2112 | NS      | $288393.60    | 0.31%             |  |  |  | No            |                  1 | On Loan: No      |
| Boston Scientific Corp         | Boston Scientific Corp                     | CUSIP: 101137107<br>LEI: Y6ZDD9FP4P8JSSJMW954 | Long             | EC               | CORP              | US        |      3520 | NS      | $371360.00    | 0.39%             |  |  |  | No            |                  1 | On Loan: No      |
| Bristol-Myers Squibb Co        | Bristol-Myers Squibb Co                    | CUSIP: 110122108<br>LEI: HLYYNH7UQUORYSJQCN42 | Long             | EC               | CORP              | US        |      3168 | NS      | $149466.24    | 0.16%             |  |  |  | No            |                  1 | On Loan: No      |
| Arthur J Gallagher & Co        | Arthur J Gallagher & Co                    | CUSIP: 363576109<br>LEI: 54930049QLLMPART6V29 | Long             | EC               | CORP              | US        |       528 | NS      | $159852.00    | 0.17%             |  |  |  | No            |                  1 | On Loan: No      |
| Aon PLC                        | Aon PLC                                    | CUSIP: N/A<br>LEI: 635400FALWQYX5E6QC64       | Long             | EC               | CORP              | GB        |       507 | NS      | $186069.00    | 0.20%             |  |  |  | No            |                  1 | On Loan: No      |
| Cencora Inc                    | Cencora Inc                                | CUSIP: 03073E105<br>LEI: AI8GXW8LG5WK7E9UD086 | Long             | EC               | CORP              | US        |       352 | NS      | $102646.72    | 0.11%             |  |  |  | No            |                  1 | On Loan: No      |
| Broadcom Inc                   | Broadcom Inc                               | CUSIP: 11135F101<br>LEI: 549300WV6GIDOZJTV909 | Long             | EC               | CORP              | US        |     11255 | NS      | $3347124.45   | 3.55%             |  |  |  | No            |                  1 | On Loan: No      |
| Brown & Brown Inc              | Brown & Brown Inc                          | CUSIP: 115236101<br>LEI: 549300PC8KTJ71XKFY89 | Long             | EC               | CORP              | US        |       880 | NS      | $85316.00     | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| CBRE Group Inc                 | CBRE Group Inc                             | CUSIP: 12504L109<br>LEI: 52990016II9MJ2OSWA10 | Long             | EC               | CORP              | US        |       704 | NS      | $114132.48    | 0.12%             |  |  |  | No            |                  1 | On Loan: No      |
| CME Group Inc                  | CME Group Inc                              | CUSIP: 12572Q105<br>LEI: LCZ7XYGSLJUHFXXNXD88 | Long             | EC               | CORP              | US        |       704 | NS      | $187623.04    | 0.20%             |  |  |  | No            |                  1 | On Loan: No      |
| Cadence Design Systems Inc     | Cadence Design Systems Inc                 | CUSIP: 127387108<br>LEI: GCT7RXJOGLXPV0NXZY22 | Long             | EC               | CORP              | US        |       326 | NS      | $114240.18    | 0.12%             |  |  |  | No            |                  1 | On Loan: No      |
| Capital One Financial Corp     | Capital One Financial Corp                 | CUSIP: 14040H105<br>LEI: ZUE8T73ROZOF6FLBAR73 | Long             | EC               | CORP              | US        |       880 | NS      | $199953.60    | 0.21%             |  |  |  | No            |                  1 | On Loan: No      |
| Carnival Corp                  | Carnival Corp                              | CUSIP: 143658300<br>LEI: F1OF2ZSX47CR0BCWA982 | Long             | EC               | CORP              | US        |      3344 | NS      | $106640.16    | 0.11%             |  |  |  | No            |                  1 | On Loan: No      |
| Carrier Global Corp            | Carrier Global Corp                        | CUSIP: 14448C104<br>LEI: 549300JE3W6CWY2NAN77 | Long             | EC               | CORP              | US        |      2464 | NS      | $160652.80    | 0.17%             |  |  |  | No            |                  1 | On Loan: No      |
| Caterpillar Inc                | Caterpillar Inc                            | CUSIP: 149123101<br>LEI: WRJR7GS4GTRECRRTVX92 | Long             | EC               | CORP              | US        |       880 | NS      | $368755.20    | 0.39%             |  |  |  | No            |                  1 | On Loan: No      |
| Charter Communications Inc     | Charter Communications Inc                 | CUSIP: 16119P108<br>LEI: 0J0XRGZE3PBRFEZ7MV65 | Long             | EC               | CORP              | US        |       176 | NS      | $46742.08     | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| Chevron Corp                   | Chevron Corp                               | CUSIP: 166764100<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      2117 | NS      | $339990.20    | 0.36%             |  |  |  | No            |                  1 | On Loan: No      |
| Chipotle Mexican Grill Inc     | Chipotle Mexican Grill Inc                 | CUSIP: 169656105<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      2992 | NS      | $126082.88    | 0.13%             |  |  |  | No            |                  1 | On Loan: No      |
| Cisco Systems Inc              | Cisco Systems Inc                          | CUSIP: 17275R102<br>LEI: 549300LKFJ962MZ46593 | Long             | EC               | CORP              | US        |      5808 | NS      | $401274.72    | 0.43%             |  |  |  | No            |                  1 | On Loan: No      |
| Cintas Corp                    | Cintas Corp                                | CUSIP: 172908105<br>LEI: N/A                  | Long             | EC               | CORP              | US        |       880 | NS      | $184826.40    | 0.20%             |  |  |  | No            |                  1 | On Loan: No      |
| Citigroup Inc                  | Citigroup Inc                              | CUSIP: 172967424<br>LEI: 6SHGI4ZSSLCXXQSBB395 | Long             | EC               | CORP              | US        |      4400 | NS      | $424908.00    | 0.45%             |  |  |  | No            |                  1 | On Loan: No      |
| Coca-Cola Co/The               | Coca-Cola Co/The                           | CUSIP: 191216100<br>LEI: UWJKFUJFZ02DKWI3RY53 | Long             | EC               | CORP              | US        |      4224 | NS      | $291413.76    | 0.31%             |  |  |  | No            |                  1 | On Loan: No      |
| Colgate-Palmolive Co           | Colgate-Palmolive Co                       | CUSIP: 194162103<br>LEI: YMEGZFW4SBUSS5BQXF88 | Long             | EC               | CORP              | US        |      1056 | NS      | $88777.92     | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| Constellation Energy Corp      | Constellation Energy Corp                  | CUSIP: 21037T109<br>LEI: 549300F8Y20RYGNGV346 | Long             | EC               | CORP              | US        |       857 | NS      | $263938.86    | 0.28%             |  |  |  | No            |                  1 | On Loan: No      |
| Walt Disney Co/The             | Walt Disney Co/The                         | CUSIP: 254687106<br>LEI: 549300GZKULIZ0WOW665 | Long             | EC               | CORP              | US        |      4048 | NS      | $479202.24    | 0.51%             |  |  |  | No            |                  1 | On Loan: No      |
| Meta Platforms Inc             | Meta Platforms Inc                         | CUSIP: 30303M102<br>LEI: BQ4BKCS1HXDV9HN80Z93 | Long             | EC               | CORP              | US        |      6657 | NS      | $4917525.90   | 5.21%             |  |  |  | No            |                  1 | On Loan: No      |
| MetLife Inc                    | MetLife Inc                                | CUSIP: 59156R108<br>LEI: C4BXATY60WC6XEOZDX54 | Long             | EC               | CORP              | US        |      1056 | NS      | $85916.16     | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| Microsoft Corp                 | Microsoft Corp                             | CUSIP: 594918104<br>LEI: INR2EJN1ERAN0W5ZP974 | Long             | EC               | CORP              | US        |     13916 | NS      | $7051098.04   | 7.48%             |  |  |  | No            |                  1 | On Loan: No      |
| Micron Technology Inc          | Micron Technology Inc                      | CUSIP: 595112103<br>LEI: B3DXGBC8GAIYWI2Z0172 | Long             | EC               | CORP              | US        |       880 | NS      | $104728.80    | 0.11%             |  |  |  | No            |                  1 | On Loan: No      |
| Moody's Corp                   | Moody's Corp                               | CUSIP: 615369105<br>LEI: 549300GCEDD8YCF5WU84 | Long             | EC               | CORP              | US        |       352 | NS      | $179435.52    | 0.19%             |  |  |  | No            |                  1 | On Loan: No      |
| Morgan Stanley                 | Morgan Stanley                             | CUSIP: 617446448<br>LEI: IGJSJL3JD5P30I6NJZ34 | Long             | EC               | CORP              | US        |      3714 | NS      | $558882.72    | 0.59%             |  |  |  | No            |                  1 | On Loan: No      |
| TransDigm Group Inc            | TransDigm Group Inc                        | CUSIP: 893641100<br>LEI: N/A                  | Long             | EC               | CORP              | US        |       159 | NS      | $222421.92    | 0.24%             |  |  |  | No            |                  1 | On Loan: No      |
| Travelers Cos Inc/The          | Travelers Cos Inc/The                      | CUSIP: 89417E109<br>LEI: 549300Y650407RU8B149 | Long             | EC               | CORP              | US        |       352 | NS      | $95571.52     | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| US Bancorp                     | US Bancorp                                 | CUSIP: 902973304<br>LEI: N1GZ7BBF3NP8GI976H15 | Long             | EC               | CORP              | US        |      3696 | NS      | $180475.68    | 0.19%             |  |  |  | No            |                  1 | On Loan: No      |
| Uber Technologies Inc          | Uber Technologies Inc                      | CUSIP: 90353T100<br>LEI: 549300B2FTG34FILDR98 | Long             | EC               | CORP              | US        |      3872 | NS      | $363000.00    | 0.38%             |  |  |  | No            |                  1 | On Loan: No      |
| Union Pacific Corp             | Union Pacific Corp                         | CUSIP: 907818108<br>LEI: 549300LMMRSZZCZ8CL11 | Long             | EC               | CORP              | US        |       704 | NS      | $157393.28    | 0.17%             |  |  |  | No            |                  1 | On Loan: No      |
| United Airlines Holdings Inc   | United Airlines Holdings Inc               | CUSIP: 910047109<br>LEI: 98450079DA0B78DD6764 | Long             | EC               | CORP              | US        |       880 | NS      | $92400.00     | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| United Rentals Inc             | United Rentals Inc                         | CUSIP: 911363109<br>LEI: 5323X5O7RN0NKFCDRY08 | Long             | EC               | CORP              | US        |       153 | NS      | $146320.02    | 0.16%             |  |  |  | No            |                  1 | On Loan: No      |
| Verizon Communications Inc     | Verizon Communications Inc                 | CUSIP: 92343V104<br>LEI: 2S72QS2UO2OESLG6Y829 | Long             | EC               | CORP              | US        |      2288 | NS      | $101198.24    | 0.11%             |  |  |  | No            |                  1 | On Loan: No      |
| Verisk Analytics Inc           | Verisk Analytics Inc                       | CUSIP: 92345Y106<br>LEI: 549300I1YSWNIRKBWP67 | Long             | EC               | CORP              | US        |       336 | NS      | $90088.32     | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| Visa Inc                       | Visa Inc                                   | CUSIP: 92826C839<br>LEI: 549300JZ4OKEHW3DPJ59 | Long             | EC               | CORP              | US        |      4048 | NS      | $1424005.44   | 1.51%             |  |  |  | No            |                  1 | On Loan: No      |
| Vistra Corp                    | Vistra Corp                                | CUSIP: 92840M102<br>LEI: 549300KP43CPCUJOOG15 | Long             | EC               | CORP              | US        |      1056 | NS      | $199700.16    | 0.21%             |  |  |  | No            |                  1 | On Loan: No      |
| Vulcan Materials Co            | Vulcan Materials Co                        | CUSIP: 929160109<br>LEI: 549300Q8LSNHAVWBNI21 | Long             | EC               | CORP              | US        |       352 | NS      | $102488.32    | 0.11%             |  |  |  | No            |                  1 | On Loan: No      |
| Walmart Inc                    | Walmart Inc                                | CUSIP: 931142103<br>LEI: Y87794H0US1R65VBXU25 | Long             | EC               | CORP              | US        |     14967 | NS      | $1451499.66   | 1.54%             |  |  |  | No            |                  1 | On Loan: No      |
| Waters Corp                    | Waters Corp                                | CUSIP: 941848103<br>LEI: 5T547R1474YC9HOD8Q74 | Long             | EC               | CORP              | US        |       176 | NS      | $53116.80     | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| Wells Fargo & Co               | Wells Fargo & Co                           | CUSIP: 949746101<br>LEI: PBLD0EJDB5FWOLXP3B76 | Long             | EC               | CORP              | US        |      6864 | NS      | $564083.52    | 0.60%             |  |  |  | No            |                  1 | On Loan: No      |
| Medtronic PLC                  | Medtronic PLC                              | CUSIP: N/A<br>LEI: 549300GX3ZBSQWUXY261       | Long             | EC               | CORP              | IE        |      1056 | NS      | $98007.36     | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| Quanta Services Inc            | Quanta Services Inc                        | CUSIP: 74762E102<br>LEI: SHVRXXEACT60MMH07S24 | Long             | EC               | CORP              | US        |       528 | NS      | $199562.88    | 0.21%             |  |  |  | No            |                  1 | On Loan: No      |
| Raymond James Financial Inc    | Raymond James Financial Inc                | CUSIP: 754730109<br>LEI: RGUZHJ05YTITL6D76949 | Long             | EC               | CORP              | US        |       528 | NS      | $89464.32     | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| RTX Corp                       | RTX Corp                                   | CUSIP: 75513E101<br>LEI: I07WOS4YJ0N7YRFE7309 | Long             | EC               | CORP              | US        |      2112 | NS      | $334963.20    | 0.36%             |  |  |  | No            |                  1 | On Loan: No      |
| Republic Services Inc          | Republic Services Inc                      | CUSIP: 760759100<br>LEI: NKNQHM6BLECKVOQP7O46 | Long             | EC               | CORP              | US        |       352 | NS      | $82357.44     | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| ResMed Inc                     | ResMed Inc                                 | CUSIP: 761152107<br>LEI: 529900T3QE5253CCXF22 | Long             | EC               | CORP              | US        |       352 | NS      | $96627.52     | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| Ross Stores Inc                | Ross Stores Inc                            | CUSIP: 778296103<br>LEI: 549300ENZFLPGRDFZQ60 | Long             | EC               | CORP              | US        |       528 | NS      | $77700.48     | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| Salesforce Inc                 | Salesforce Inc                             | CUSIP: 79466L302<br>LEI: RCGZFPDMRW58VJ54VR07 | Long             | EC               | CORP              | US        |      2112 | NS      | $541200.00    | 0.57%             |  |  |  | No            |                  1 | On Loan: No      |
| ServiceNow Inc                 | ServiceNow Inc                             | CUSIP: 81762P102<br>LEI: 549300HJTQM36M0E1G39 | Long             | EC               | CORP              | US        |       352 | NS      | $322945.92    | 0.34%             |  |  |  | No            |                  1 | On Loan: No      |
| Sherwin-Williams Co/The        | Sherwin-Williams Co/The                    | CUSIP: 824348106<br>LEI: Z15BMIOX8DDH0X2OBP21 | Long             | EC               | CORP              | US        |       513 | NS      | $187670.79    | 0.20%             |  |  |  | No            |                  1 | On Loan: No      |
| Simon Property Group Inc       | Simon Property Group Inc                   | CUSIP: 828806109<br>LEI: 529900GQL5X8H7AO3T64 | Long             | EC               | CORP              | US        |      1056 | NS      | $190776.96    | 0.20%             |  |  |  | No            |                  1 | On Loan: No      |
| State Street Corp              | State Street Corp                          | CUSIP: 857477103<br>LEI: 549300ZFEEJ2IP5VME73 | Long             | EC               | CORP              | US        |       880 | NS      | $101173.60    | 0.11%             |  |  |  | No            |                  1 | On Loan: No      |
| Stryker Corp                   | Stryker Corp                               | CUSIP: 863667101<br>LEI: 5493002F0SC4JTBU5137 | Long             | EC               | CORP              | US        |       704 | NS      | $275552.64    | 0.29%             |  |  |  | No            |                  1 | On Loan: No      |
| Synopsys Inc                   | Synopsys Inc                               | CUSIP: 871607107<br>LEI: QG7T915N9S0NY5UKNE63 | Long             | EC               | CORP              | US        |       200 | NS      | $120704.00    | 0.13%             |  |  |  | No            |                  1 | On Loan: No      |
| Synchrony Financial            | Synchrony Financial                        | CUSIP: 87165B103<br>LEI: 549300RS7EWPM9MA6C78 | Long             | EC               | CORP              | US        |      1232 | NS      | $94050.88     | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| Take-Two Interactive Software  | Take-Two Interactive Software Inc          | CUSIP: 874054109<br>LEI: BOMSTHHJK882EWYX3334 | Long             | EC               | CORP              | US        |       504 | NS      | $117568.08    | 0.12%             |  |  |  | No            |                  1 | On Loan: No      |
| Targa Resources Corp           | Targa Resources Corp                       | CUSIP: 87612G101<br>LEI: 5493003QENHHS261UR94 | Long             | EC               | CORP              | US        |       850 | NS      | $142596.00    | 0.15%             |  |  |  | No            |                  1 | On Loan: No      |
| Tesla Inc                      | Tesla Inc                                  | CUSIP: 88160R101<br>LEI: 54930043XZGB27CTOV49 | Long             | EC               | CORP              | US        |      7717 | NS      | $2576474.79   | 2.73%             |  |  |  | No            |                  1 | On Loan: No      |
| Texas Instruments Inc          | Texas Instruments Inc                      | CUSIP: 882508104<br>LEI: WDJNR2L6D8RWOEB8T652 | Long             | EC               | CORP              | US        |       880 | NS      | $178182.40    | 0.19%             |  |  |  | No            |                  1 | On Loan: No      |
| Royal Caribbean Cruises Ltd    | Royal Caribbean Cruises Ltd                | CUSIP: N/A<br>LEI: K2NEH8QNVW44JIWK7Z55       | Long             | EC               | CORP              | US        |       704 | NS      | $255706.88    | 0.27%             |  |  |  | No            |                  1 | On Loan: No      |
| Abbott Laboratories            | Abbott Laboratories                        | CUSIP: 002824100<br>LEI: HQD377W2YR662HK5JX27 | Long             | EC               | CORP              | US        |      2288 | NS      | $303526.08    | 0.32%             |  |  |  | No            |                  1 | On Loan: No      |
| AbbVie Inc                     | AbbVie Inc                                 | CUSIP: 00287Y109<br>LEI: FR5LCKFTG8054YNNRU85 | Long             | EC               | CORP              | US        |      1962 | NS      | $412804.80    | 0.44%             |  |  |  | No            |                  1 | On Loan: No      |
| Advanced Micro Devices Inc     | Advanced Micro Devices Inc                 | CUSIP: 007903107<br>LEI: R2I72C950HOYXII45366 | Long             | EC               | CORP              | US        |      1408 | NS      | $228983.04    | 0.24%             |  |  |  | No            |                  1 | On Loan: No      |
| Agilent Technologies Inc       | Agilent Technologies Inc                   | CUSIP: 00846U101<br>LEI: QUIX8Y7A2WP0XRMW7G29 | Long             | EC               | CORP              | US        |       528 | NS      | $66348.48     | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| Airbnb Inc                     | Airbnb Inc                                 | CUSIP: 009066101<br>LEI: 549300HMUDNO0RY56D37 | Long             | EC               | CORP              | US        |      1232 | NS      | $160812.96    | 0.17%             |  |  |  | No            |                  1 | On Loan: No      |
| Air Products and Chemicals Inc | Air Products and Chemicals Inc             | CUSIP: 009158106<br>LEI: 7QEON6Y1RL5XR3R1W237 | Long             | EC               | CORP              | US        |       322 | NS      | $94703.42     | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| Alphabet Inc                   | Alphabet Inc                               | CUSIP: 02079K305<br>LEI: 5493006MHB84DD0ZWV18 | Long             | EC               | CORP              | US        |     29404 | NS      | $6260405.64   | 6.64%             |  |  |  | No            |                  1 | On Loan: No      |
| Altria Group Inc               | Altria Group Inc                           | CUSIP: 02209S103<br>LEI: XSGZFLO9YTNO9VCQV219 | Long             | EC               | CORP              | US        |      3344 | NS      | $224750.24    | 0.24%             |  |  |  | No            |                  1 | On Loan: No      |
| 3M Co                          | 3M Co                                      | CUSIP: 88579Y101<br>LEI: LUZQVYP4VS22CLWDAR65 | Long             | EC               | CORP              | US        |      1232 | NS      | $191612.96    | 0.20%             |  |  |  | No            |                  1 | On Loan: No      |

### Signature

**Date Signed:** 2025-10-28

**Name of Applicant:** Horizon Funds

**Signature:** /s/ Matt Chambers

**Name of Signer:** Matt Chambers

**Title:** Chief Compliance Officer