Horizon Multi-Factor U.S. Equity Fund - Advisor Class

Horizon Multi-Factor U.S. Equity Fund – Advisor Class (USRTX) is an open-end mutual fund domiciled in the United States and listed on the NASDAQ, managed by Horizon Investments, a Charlotte, North Carolina-based asset management firm offering goals-based financial strategies. Launched on June 26, 2019, and previously known as the Horizon Defensive Multi-Factor Fund and later the Horizon US Defensive Equity Fund, the fund seeks to deliver long-term capital appreciation by investing at least 80% of its net assets in the equity securities of large- and mid-cap U.S. companies, while employing defensive portfolio construction techniques to reduce price volatility relative to the broader market. The fund holds approximately 159 positions diversified across sectors including Technology (24.4%), Financials (19.6%), and Communications (12.8%), with top holdings including NVIDIA, Microsoft, Alphabet, Meta Platforms, and Broadcom. As of early 2026, the fund's total net assets stand at approximately $777 million, with an annual expense ratio of approximately 1.19% for the Advisor Class shares, and a minimum initial investment of $2,500.