Horizon Equity Premium Income Fund
Schedule of Investments
August 31, 2026 (Unaudited)
COMMON STOCKS - 99.7%									Shares						Value
Aerospace & Defense - 1.8%
Boeing Co. (a)									901						$        187,210
General Dynamics Corp.									1,167						433,366
General Electric Co.									2,596						871,503
Howmet Aerospace, Inc.									951						232,947
Northrop Grumman Corp.									633						341,630
RTX Corp.									5,420						1,125,897
															3,192,553
Air Freight & Logistics - 0.5%
FedEx Corp.									1,076						352,283
United Parcel Service, Inc. - Class B									5,340						556,588
															908,871
Automobiles - 1.4%
Ford Motor Co.									39,080						544,775
General Motors Co.									5,592						482,702
Tesla, Inc. (a)									4,058						1,493,141
															2,520,618
Banks - 3.7%
Bank of America Corp.									32,258						1,998,060
Citigroup, Inc.									7,279						958,062
JPMorgan Chase & Co. (b)									3,135						1,116,123
PNC Financial Services Group, Inc.									2,041						489,085
Truist Financial Corp.									7,549						374,279
US Bancorp									8,960						551,757
Wells Fargo & Co.									14,163						1,223,542
															6,710,908
Beverages - 1.7%
Coca-Cola Co.									19,162						1,699,095
Keurig Dr Pepper, Inc.									5,216						166,182
Monster Beverage Corp. (a)									3,585						164,623
PepsiCo, Inc.									7,022						985,467
															3,015,367
Biotechnology - 2.3%
AbbVie, Inc.									8,116						2,081,105
Amgen, Inc.									2,256						969,809
Gilead Sciences, Inc.									4,551						665,993
Regeneron Pharmaceuticals, Inc.									274						218,948
Vertex Pharmaceuticals, Inc. (a)									346						188,404
															4,124,259
Broadline Retail - 3.2%
Amazon.com, Inc. (a)(b)									21,853						5,676,754
Building Products - 0.4%
Carrier Global Corp.									3,473						202,198
Johnson Controls International PLC									2,234						308,828
Trane Technologies PLC									689						306,192

---

															817,218
Capital Markets - 3.0%
Bank of New York Mellon Corp.									2,754						444,165
Charles Schwab Corp.									6,806						747,435
Goldman Sachs Group, Inc.									1,327						1,361,369
Moody's Corp.									559						282,094
Morgan Stanley									7,098						1,514,145
Nasdaq, Inc.									2,337						230,452
Robinhood Markets, Inc. - Class A (a)									1,666						174,614
S&P Global, Inc.									975						424,944
State Street Corp.									1,293						247,454
															5,426,672
Chemicals - 1.1%
Air Products & Chemicals, Inc.									1,065						329,575
Corteva, Inc.									2,084						176,369
Ecolab, Inc.									965						273,288
Linde PLC									1,746						854,806
Sherwin-Williams Co.									779						263,933
															1,897,971
Commercial Services & Supplies - 0.5%
Cintas Corp.									1,454						293,403
Republic Services, Inc.									1,195						263,999
Waste Management, Inc.									1,735						379,826
															937,228
Communications Equipment - 1.8%
Arista Networks, Inc. (a)									3,542						693,134
Cisco Systems, Inc.									18,022						1,991,251
Motorola Solutions, Inc.									1,171						568,286
															3,252,671
Construction & Engineering - 0.2%
Comfort Systems USA, Inc.									88						136,015
Quanta Services, Inc.									336						203,982
															339,997
Construction Materials - 0.1%
CRH PLC									2,738						258,166
Consumer Finance - 0.5%
American Express Co.									2,486						820,803
Consumer Staples Distribution & Retail - 1.3%
Costco Wholesale Corp.									1,042						983,533
Kroger Co.									3,180						182,977
Sysco Corp.									2,095						169,863
Target Corp.									1,478						237,781
Walmart, Inc. (b)									8,056						844,833
															2,418,987
Containers & Packaging - 0.1%
Smurfit Westrock PLC									3,776						177,094

---

Diversified Telecommunication Services - 1.5%
AT&T, Inc.									49,675						1,286,086
Verizon Communications, Inc.									29,914						1,496,298
															2,782,384
Electric Utilities - 1.8%
American Electric Power Co., Inc.									2,858						349,905
Duke Energy Corp.									4,575						548,588
Entergy Corp.									2,233						237,390
Exelon Corp.									6,191						270,670
NextEra Energy, Inc.									11,231						924,761
Southern Co.									6,409						563,992
Xcel Energy, Inc.									3,530						267,186
															3,162,492
Electrical Equipment - 0.9%
Eaton Corp. PLC									1,329						534,099
Emerson Electric Co.									2,341						356,862
GE Vernova, Inc.									561						504,075
Vertiv Holdings Co. - Class A									853						220,688
															1,615,724
Electronic Equipment, Instruments & Components - 0.6%
Amphenol Corp. - Class A									4,422						701,108
Corning, Inc.									2,964						440,836
															1,141,944
Energy Equipment & Services - 0.1%
SLB Ltd.									3,812						229,101
Entertainment - 0.9%
Netflix, Inc. (a)									8,861						718,184
Walt Disney Co.									8,244						886,642
															1,604,826
Financial Services - 3.3%
Apollo Global Management, Inc.									2,679						365,898
Berkshire Hathaway, Inc. - Class B (a)									4,301						2,167,833
MasterCard, Inc. - Class A									2,355						1,387,825
Visa, Inc. - Class A									5,353						2,030,767
															5,952,323
Food Products - 0.5%
Archer-Daniels-Midland Co.									2,299						186,886
Hershey Co.									970						170,924
Kraft Heinz Co.									7,030						180,460
Mondelez International, Inc. - Class A									4,662						289,370
															827,640
Ground Transportation - 0.8%
CSX Corp.									7,072						357,207
Uber Technologies, Inc. (a)									4,191						317,049
Union Pacific Corp.									2,640						793,769
															1,468,025
Health Care Equipment & Supplies - 1.0%
Abbott Laboratories									6,387						704,869

---

Becton Dickinson & Co.									1,145						215,386
Intuitive Surgical, Inc. (a)									429						161,673
Medtronic PLC									4,870						441,465
Stryker Corp.									706						228,603
															1,751,996
Health Care Providers & Services - 1.6%
Cardinal Health, Inc.									736						172,681
Cencora, Inc.									611						197,720
Cigna Group									627						173,102
CVS Health Corp.									4,177						392,262
Elevance Health, Inc.									440						172,718
HCA Healthcare, Inc.									445						184,430
McKesson Corp.									229						202,738
UnitedHealth Group, Inc.									3,569						1,389,804
															2,885,455
Hotels, Restaurants & Leisure - 2.0%
Booking Holdings, Inc.									3,692						735,040
Hilton Worldwide Holdings, Inc.									1,151						364,038
Marriott International, Inc. - Class A									1,342						458,642
McDonald's Corp.									4,564						1,202,796
Royal Caribbean Cruises Ltd.									1,840						494,482
Yum! Brands, Inc.									2,496						382,662
															3,637,660
Household Durables - 0.4%
DR Horton, Inc.									2,282						329,886
Garmin, Ltd.									1,660						471,623
															801,509
Household Products - 1.2%
Colgate-Palmolive Co.									1,955						175,598
Kimberly-Clark Corp.									1,569						169,373
Procter & Gamble Co.									11,957						1,735,200
															2,080,171
Industrial Conglomerates - 0.0% (c)
DuPont de Nemours, Inc.									1						90
Insurance - 2.1%
Aflac, Inc.									2,363						273,753
Allstate Corp.									1,135						292,603
American International Group, Inc.									2,690						205,408
Aon PLC - Class A									710						228,279
Chubb Ltd.									1,416						479,458
Hartford Insurance Group, Inc.									1,307						179,556
Marsh & McLennan Cos., Inc.									2,266						430,087
MetLife, Inc.									3,395						323,102
Progressive Corp.									3,672						800,790
Prudential Financial, Inc.									2,133						250,841
Travelers Cos., Inc.									811						296,769
															3,760,646
Interactive Media & Services - 6.8%
Alphabet, Inc. - Class A (b)									26,606						9,028,746
Meta Platforms, Inc. - Class A (b)									5,725						3,276,647

---

															12,305,393
IT Services - 1.3%
Accenture PLC - Class A									5,689						1,079,545
International Business Machines Corp.									5,108						1,194,608
															2,274,153
Life Sciences Tools & Services - 0.3%
Danaher Corp.									991						211,638
Thermo Fisher Scientific, Inc.									443						273,375
															485,013
Machinery - 1.6%
Caterpillar, Inc.									1,162						926,660
Cummins, Inc.									509						287,280
Deere & Co.									891						583,525
Illinois Tool Works, Inc.									1,427						392,953
PACCAR, Inc.									2,575						319,635
Parker-Hannifin Corp.									378						370,228
															2,880,281
Media - 0.2%
AppLovin Corp. - Class A (a)									924						288,343
Metals & Mining - 0.6%
Freeport-McMoRan, Inc.									4,803						363,779
Newmont Goldcorp Corp.									3,764						474,490
Nucor Corp.									830						207,201
															1,045,470
Multi-Utilities - 0.4%
Consolidated Edison, Inc.									2,133						228,274
DTE Energy Co.									1,191						161,535
Public Service Enterprise Group, Inc.									2,946						216,030
WEC Energy Group, Inc.									1,887						200,343
															806,182
Oil, Gas & Consumable Fuels - 4.1%
Chevron Corp.									10,155						2,093,352
ConocoPhillips									3,506						464,510
EOG Resources, Inc.									1,363						197,580
ExxonMobil Holdings Corp. (b)									20,237						3,257,145
Kinder Morgan, Inc.									5,515						177,804
Marathon Petroleum Corp.									680						253,858
Phillips 66									1,016						250,525
Targa Resources Corp.									658						193,222
Valero Energy Corp.									663						237,964
Williams Cos., Inc.									2,403						180,345
															7,306,305
Passenger Airlines - 0.1%
Delta Air Lines, Inc.									2,055						160,290
Pharmaceuticals - 4.4%
Bristol-Myers Squibb Co.									8,272						552,652
Eli Lilly & Co. (b)									2,040						2,359,729
Johnson & Johnson									9,956						2,646,803

---

Merck & Co., Inc.									10,534						1,556,504
Pfizer, Inc.									27,161						773,002
															7,888,690
Professional Services - 0.5%
Automatic Data Processing, Inc.									2,163						618,964
Paychex, Inc.									2,212						281,676
															900,640
Semiconductors & Semiconductor Equipment - 14.8%
Advanced Micro Devices, Inc. (a)									3,204						1,508,187
Applied Materials, Inc.									1,948						892,944
Broadcom, Inc. (b)									13,982						5,178,094
Intel Corp. (a)									10,637						952,118
KLA Corp.									3,486						611,619
Lam Research Corp.									3,221						971,099
Marvell Technology, Inc.									2,633						557,301
Micron Technology, Inc.									2,479						2,376,692
NVIDIA Corp. (b)									51,189						11,301,507
QUALCOMM, Inc.									6,028						1,027,653
Texas Instruments, Inc.									4,765						1,243,236
															26,620,450
Software - 10.2%
Cadence Design Systems, Inc. (a)									1,075						364,188
Crowdstrike Holdings, Inc. - Class A (a)									2,835						654,885
Fortinet, Inc. (a)									2,615						446,982
Microsoft Corp. (b)									24,737						12,548,833
Oracle Corp.									4,942						736,951
Palantir Technologies, Inc. - Class A (a)									6,188						1,153,319
Palo Alto Networks, Inc. (a)									1,913						731,015
Salesforce, Inc.									4,320						1,112,573
ServiceNow, Inc. (a)									3,880						574,201
															18,322,947
Specialty Retail - 2.1%
Home Depot, Inc.									5,467						1,792,247
Lowe's Cos., Inc.									3,483						712,970
Ross Stores, Inc.									2,000						457,080
TJX Cos., Inc.									6,016						805,602
															3,767,899
Technology Hardware, Storage & Peripherals - 8.1%
Apple, Inc. (b)									36,796						11,658,813
Dell Technologies, Inc. - Class C									2,323						1,059,311
Sandisk Corp. (a)									369						578,112
Seagate Technology Holdings PLC									818						677,615
Western Digital Corp.									1,173						528,495
															14,502,346
Tobacco - 1.1%
Altria Group, Inc.									7,913						541,882
Philip Morris International, Inc.									7,990						1,496,527
															2,038,409
Trading Companies & Distributors - 0.2%
United Rentals, Inc.									177						183,726

---

WW Grainger, Inc.									139						182,019
															365,745
Wireless Telecommunication Services - 0.6%
T-Mobile US, Inc.									5,918						1,067,844
TOTAL COMMON STOCKS (Cost $129,895,767)															179,224,523
SHORT-TERM INVESTMENTS
MONEY MARKET FUNDS - 0.3%									Shares						Value
First American Government Obligations Fund - Class X, 3.59% (d)									627,287						627,287
TOTAL MONEY MARKET FUNDS (Cost $627,287)															627,287
TOTAL INVESTMENTS - 100.0% (Cost $130,523,054)															179,851,810
Liabilities in Excess of Other Assets - (0.0)% (c)												(0.00014)			(24,378)
TOTAL NET ASSETS - 100.0%															$        179,827,432
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)						All or a portion of the security has been pledged as collateral for written options. The fair value of assets committed as collateral as of August 31, 2026 was $44,148,178.
(c)						Represents less than 0.05% of net assets.
(d)						The rate shown represents the 7-day annualized yield as of August 31, 2026.

Horizon Equity Premium Income Fund

Schedule of Written Options

August 31, 2026 (Unaudited)

WRITTEN OPTIONS - (0.0)% (a)

Notional Amount

Contracts

Value

Call Options - (0.0)% (a)

S&P 500 Index, Expiration: 09/03/2026; Exercise Price: $7,800.00 (b)(c)

$        (115,292,100)

(150)

$        (15,375)

TOTAL WRITTEN OPTIONS (Premiums received $180,689)

$        (15,375)

Percentages are stated as a percent of net assets.

(a)						Represents less than 0.05% of net assets.
(b)						Exchange-traded.
(c)						100 shares per contract.

---

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

Horizon Equity Premium Income 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, 2026:

Level 1

Level 2

Level 3

Total

Assets:

Investments:

Common Stocks

$        179,224,523

$        –

$        –

$        179,224,523

Money Market Funds

627,287

–

–

627,287

Total Investments

$        179,851,810

$        –

$        –

$        179,851,810

Liabilities:

Investments:

Written Options

$        –

$        (15,375)

$        –

$        (15,375)

Total Investments

$        –

$        (15,375)

$        –

$        (15,375)

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