HORIZON FINANCIAL SERVICES, LLC Q4 2025 Filing

Filed January 12, 2026

Portfolio Value

$219.8B

Holdings

404

Report Date

Q4 2025

Filing Type

13F-HR

All Holdings (404 positions)

#	Stock	Shares	Value	% Portfolio
1	SPYGSPYG	207,357	$22.1B	10.07%
2	SPYVSPYV	353,399	$20.1B	9.14%
3	SPSBSPSB	549,960	$16.6B	7.56%
4	SCHMSCHM	498,477	$15.0B	6.82%
5	SPDWSPDW	274,991	$12.2B	5.56%
6	VGSHVGSH	183,941	$10.8B	4.92%
7	SPHYSPHY	389,582	$9.2B	4.20%
8	SRLNSRLN	221,016	$9.1B	4.15%
9	XLKXLK	58,318	$8.4B	3.82%
10	SCHASCHA	262,982	$7.5B	3.41%
11	SPMBSPMB	213,188	$4.8B	2.17%
12	VCLTVCLT	56,005	$4.2B	1.93%
13	ICVTICVT	41,750	$4.1B	1.87%
14	SPEMSPEM	78,552	$3.7B	1.67%
15	SCHPSCHP	134,740	$3.6B	1.62%
16	VSSVSS	24,483	$3.5B	1.60%
17	XLIXLI	22,617	$3.5B	1.60%
18	XLFXLF	62,313	$3.4B	1.55%
19	SPTLSPTL	121,363	$3.2B	1.46%
20	VWOBVWOB	46,957	$3.2B	1.44%
21	GLDMGLDM	36,625	$3.1B	1.42%
22	XLREXLRE	75,747	$3.1B	1.39%
23	XLVXLV	18,692	$2.9B	1.32%
24	XLCXLC	23,303	$2.7B	1.25%
25	FLRNFLRN	87,341	$2.7B	1.22%
26	XFEBFPE	136,533	$2.5B	1.13%
27	XLYXLY	18,845	$2.3B	1.02%
28	SJNKSJNK	88,469	$2.2B	1.02%
29	MLPXMLPX	35,131	$2.1B	0.97%
30	VCITVCIT	21,082	$1.8B	0.80%
31	JPSTJPST	29,527	$1.5B	0.68%
32	XLFIXLP	17,403	$1.4B	0.61%
33	SCHRSCHR	50,629	$1.3B	0.58%
34	AAPLAAPL	4,097	$1.1B	0.51%
35	MSFTMSFT	2,194	$1.1B	0.48%
36	XLEXLE	23,156	$1.0B	0.47%
37	DUKDUK	8,690	$1.0B	0.46%
38	LLYLLY	929	$998.0M	0.45%
39	XLBXLB	21,669	$982.0M	0.45%
40	XLUXLU	21,967	$937.0M	0.43%
41	HDHD	2,542	$874.0M	0.40%
42	NVDANVDA	3,999	$745.0M	0.34%
43	—LH	2,820	$707.0M	0.32%
44	PGHYPGHY	31,219	$621.0M	0.28%
45	—QQQ	974	$598.0M	0.27%
46	AMZNAMZN	2,211	$510.0M	0.23%
47	VTIPVTIP	9,840	$486.0M	0.22%
48	VUGVUG	975	$475.0M	0.22%
49	CWCW	813	$448.0M	0.20%
50	LOWLOW	1,593	$384.0M	0.17%
51	APHAPH	2,800	$378.0M	0.17%
52	COFCOF	1,178	$285.0M	0.13%
53	AVGOAVGO	815	$282.0M	0.13%
54	VGTVGT	374	$281.0M	0.13%
55	AONAON	771	$272.0M	0.12%
56	BSJQBSJQ	11,425	$266.0M	0.12%
57	TT	10,244	$254.0M	0.12%
58	EMHYEMHY	5,922	$239.0M	0.11%
59	VOEVOE	1,167	$206.0M	0.09%
60	UNHUNH	579	$191.0M	0.09%
61	GPCGPC	1,554	$191.0M	0.09%
62	CMBSCMBS	3,283	$161.0M	0.07%
63	GEGE	508	$156.0M	0.07%
64	GOOGGOOG	491	$154.0M	0.07%
65	VOTVOT	521	$145.0M	0.07%
66	NSCNSC	495	$143.0M	0.07%
67	METAMETA	209	$137.0M	0.06%
68	IJHIJH	1,917	$126.0M	0.06%
69	IAGGIAGG	2,363	$118.0M	0.05%
70	BABBAB	4,361	$118.0M	0.05%
71	CVXCVX	772	$117.0M	0.05%
72	IBMIBM	395	$117.0M	0.05%
73	BSJRBSJR	4,880	$110.0M	0.05%
74	RYRY	615	$104.0M	0.05%
75	SOSO	1,188	$103.0M	0.05%
76	AMATAMAT	400	$102.0M	0.05%
77	CMCSACMCSA	3,428	$102.0M	0.05%
78	ENBENB	1,953	$93.0M	0.04%
79	DELLDELL	713	$89.0M	0.04%
80	ACHRACHR	11,885	$89.0M	0.04%
81	MMMMMM	554	$88.0M	0.04%
82	VBKVBK	288	$87.0M	0.04%
83	GOOGLGOOGL	277	$86.0M	0.04%
84	INTCINTC	2,341	$86.0M	0.04%
85	VV	236	$82.0M	0.04%
86	CRMCRM	309	$81.0M	0.04%
87	VBRVBR	359	$76.0M	0.03%
88	SCHGSCHG	2,332	$76.0M	0.03%
89	TSLATSLA	168	$75.0M	0.03%
90	JPMJPM	234	$75.0M	0.03%
91	STNCSTNC	2,248	$74.0M	0.03%
92	GEVGEV	113	$73.0M	0.03%
93	BRK/BBRK/B	143	$71.0M	0.03%
94	SCHVSCHV	2,244	$66.0M	0.03%
95	MAMA	105	$59.0M	0.03%
96	REETREET	2,331	$58.0M	0.03%
97	BXBX	366	$56.0M	0.03%
98	SUBSUB	471	$50.0M	0.02%
99	MUBMUB	439	$47.0M	0.02%
100	WMTWMT	390	$43.0M	0.02%

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