Horizon Landmark ETF
Schedule of Investments
August 31, 2026 (Unaudited)

PURCHASED OPTIONS - 99.8% (a)
Notional Amount  

Contracts  

Value  
Call Options - 25.6%




State Street SPDR S&P 500 ETF Trust, Expiration: 12/18/2026; Exercise Price: $3.00 (b)(c)
    $        89,668,145

            1,169

    $        88,817,920






Put Options - 74.2%




State Street SPDR S&P 500 ETF Trust, Expiration: 12/18/2026; Exercise Price: $3,003.00 (b)(c)
             89,668,145

            1,169

             257,108,317
TOTAL PURCHASED OPTIONS (Cost $344,255,063)

             345,926,237






SHORT-TERM INVESTMENTS
MONEY MARKET FUNDS - 0.2%
Shares  

Value  
First American Government Obligations Fund - Class X, 3.59% (d)

            866,433

             866,433
TOTAL MONEY MARKET FUNDS (Cost $866,433)

             866,433






TOTAL INVESTMENTS - 100.0% (Cost $345,121,496)

             346,792,670
Liabilities in Excess of Other Assets - (0.0)% (e)
(0.00032)
            (109,472)
TOTAL NET ASSETS - 100.0%




    $        346,683,198


Percentages are stated as a percent of net assets.



The Global Industry Classification Standard (“GICS®”) was developed by and/or is the exclusive property of MSCI, Inc. (“MSCI”) and Standard & Poor’s Financial Services LLC (“S&P”). GICS® is a service mark of MSCI and S&P and has been licensed for use by U.S. Bank Global Fund Services.



(a)

Non-income producing security.
(b)

Exchange-traded.
(c)

100 shares per contract.
(d)

The rate shown represents the 7-day annualized yield as of August 31, 2026.
(e)

Represents less than 0.05% of net assets.

















Summary of Fair Value Disclosure as of August 31, 2026 (Unaudited)

Horizon Landmark ETF 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, 2026:



Level 1

Level 2

Level 3

Total
Investments:







  Purchased Options
    $        –

    $        345,926,237

    $        –

    $        345,926,237
  Money Market Funds
            866,433

            –

            –

            866,433
Total Investments
    $        866,433

    $        345,926,237

    $        –

    $        346,792,670



 

Refer to the Schedule of Investments for further disaggregation of investment categories.