HORIZON FINANCIAL SERVICES, LLC Q2 2025 Filing

Filed August 12, 2025

Portfolio Value

$188.6B

Holdings

320

Report Date

Q2 2025

Filing Type

13F-HR

All Holdings (320 positions)

#	Stock	Shares	Value	% Portfolio
1	SPYGSPYG	201,395	$19.2B	10.18%
2	SPYVSPYV	325,567	$17.0B	9.03%
3	SPSBSPSB	487,335	$14.7B	7.80%
4	SCHMSCHM	472,086	$13.2B	7.02%
5	VGSHVGSH	185,320	$10.9B	5.78%
6	SPDWSPDW	268,733	$10.9B	5.77%
7	SPHYSPHY	360,976	$8.6B	4.56%
8	SRLNSRLN	194,572	$8.1B	4.29%
9	XLKXLK	24,695	$6.3B	3.32%
10	SCHASCHA	242,681	$6.1B	3.26%
11	SPMBSPMB	200,764	$4.4B	2.35%
12	VCLTVCLT	50,793	$3.9B	2.04%
13	ICVTICVT	41,444	$3.7B	1.98%
14	SCHPSCHP	129,105	$3.4B	1.83%
15	VSSVSS	24,490	$3.3B	1.75%
16	SPEMSPEM	75,647	$3.2B	1.71%
17	SPTLSPTL	115,450	$3.1B	1.63%
18	XLIXLI	20,070	$3.0B	1.57%
19	VWOBVWOB	43,671	$2.9B	1.51%
20	XLREXLRE	68,159	$2.8B	1.50%
21	GLDMGLDM	42,854	$2.8B	1.49%
22	XLVXLV	19,223	$2.6B	1.37%
23	FLRNFLRN	75,452	$2.3B	1.23%
24	XFEBFPE	127,468	$2.3B	1.20%
25	MLPXMLPX	33,204	$2.1B	1.10%
26	XLYXLY	8,813	$1.9B	1.02%
27	SJNKSJNK	64,448	$1.6B	0.87%
28	XLCXLC	15,105	$1.6B	0.87%
29	JPSTJPST	30,071	$1.5B	0.81%
30	VCITVCIT	18,336	$1.5B	0.81%
31	XLFIXLP	18,488	$1.5B	0.79%
32	XLFXLF	24,760	$1.3B	0.69%
33	XLBXLB	13,963	$1.2B	0.65%
34	SCHRSCHR	42,506	$1.1B	0.56%
35	DUKDUK	7,973	$940.8M	0.50%
36	PGHYPGHY	42,195	$838.4M	0.44%
37	HDHD	2,254	$826.4M	0.44%
38	XLUXLU	9,431	$770.2M	0.41%
39	XLEXLE	8,533	$723.7M	0.38%
40	AAPLAAPL	3,422	$702.1M	0.37%
41	VTIPVTIP	13,857	$696.6M	0.37%
42	LLYLLY	891	$694.6M	0.37%
43	NVDANVDA	3,352	$529.6M	0.28%
44	VUGVUG	997	$437.1M	0.23%
45	AMZNAMZN	1,783	$391.2M	0.21%
46	BSJPBSJP	16,665	$384.5M	0.20%
47	LOWLOW	1,656	$367.4M	0.19%
48	APHAPH	2,815	$278.0M	0.15%
49	AONAON	771	$275.1M	0.15%
50	VGTVGT	381	$252.7M	0.13%
51	TT	8,168	$236.4M	0.13%
52	CMBSCMBS	4,596	$223.9M	0.12%
53	BSJQBSJQ	8,988	$209.7M	0.11%
54	MSFTMSFT	388	$193.0M	0.10%
55	GPCGPC	1,554	$188.5M	0.10%
56	BABBAB	7,009	$185.9M	0.10%
57	UNHUNH	514	$160.3M	0.09%
58	EMHYEMHY	3,906	$152.2M	0.08%
59	AVGOAVGO	532	$146.7M	0.08%
60	ACHRACHR	11,885	$129.0M	0.07%
61	CMCSACMCSA	3,428	$122.3M	0.06%
62	IAGGIAGG	2,188	$111.8M	0.06%
63	VV	279	$99.2M	0.05%
64	VOEVOE	602	$99.0M	0.05%
65	—QQQ	176	$97.2M	0.05%
66	DELLDELL	700	$85.8M	0.05%
67	ENBENB	1,882	$85.3M	0.05%
68	SPYSPY	134	$82.8M	0.04%
69	CRMCRM	300	$81.8M	0.04%
70	RYRY	615	$80.9M	0.04%
71	FDNFDN	293	$78.9M	0.04%
72	QTECQTEC	368	$78.3M	0.04%
73	SCHGSCHG	2,638	$77.1M	0.04%
74	VOTVOT	269	$76.5M	0.04%
75	AMATAMAT	405	$74.1M	0.04%
76	STNCSTNC	2,248	$69.4M	0.04%
77	BKLNBKLN	3,184	$66.6M	0.04%
78	SCHVSCHV	2,244	$62.1M	0.03%
79	JPMJPM	210	$60.9M	0.03%
80	GOOGGOOG	292	$51.8M	0.03%
81	ASGNASGN	1,032	$51.5M	0.03%
82	SUBSUB	479	$50.9M	0.03%
83	REETREET	2,016	$49.8M	0.03%
84	ABTABT	340	$46.2M	0.02%
85	MUBMUB	439	$45.9M	0.02%
86	GSGS	64	$45.4M	0.02%
87	PNFPPNFP	409	$45.2M	0.02%
88	VBKVBK	149	$41.3M	0.02%
89	XYLDXYLD	1,000	$38.9M	0.02%
90	VBRVBR	184	$35.9M	0.02%
91	INTCINTC	1,600	$35.8M	0.02%
92	BRK/BBRK/B	74	$35.8M	0.02%
93	VMBSVMBS	761	$35.3M	0.02%
94	BSJTBSJT	1,622	$34.9M	0.02%
95	BSJSBSJS	1,582	$34.9M	0.02%
96	BSJRBSJR	1,535	$34.9M	0.02%
97	SHYGSHYG	791	$34.1M	0.02%
98	—SHYD	1,503	$34.0M	0.02%
99	ADBEADBE	82	$31.7M	0.02%
100	GOOGLGOOGL	173	$30.5M	0.02%

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