SEC 13F Intelligence

Managers / Q4 2025 · view latest →

HORIZON FINANCIAL SERVICES, LLC

CIK 0001674020 · 3880 VEST MILL RD, STE 100, WINSTON SALEM, NC, 27103 · 3366597060

Reported Value
$220M
Q4 2025
Positions
404
Filings on Record
25
2019–present window
Filed
Jan 12, 2026
original filing

Summary

Horizon Financial Services, LLC reported $220M in U.S.-listed holdings across 404 positions for Q4 2025.

Its largest position, Spyg, represents 10.1% of the portfolio.

Compared with Q3 2025, the fund opened 74 new positions and exited 23.

Portfolio Metrics

Turnover
+1.3%
vs prior filed quarter
Top-10 Concentration
+59.6%
share of reported value
Largest Position
+10.1%
Spyg
New / Exited
74 / 23
positions this quarter

Methodology: turnover is min(value bought, value sold) ÷ average reported value across the two quarters — value-based, so market moves inflate it slightly versus a share-based measure. Concentration and largest position are shares of the filing’s total reported value, options excluded. New/exited counts compare against the prior filed quarter. All figures derive solely from the fund’s 13F filings.

Reported Value by Quarter

13F Reported Value
Q3 ’20: $103MQ3 ’20Q4 ’20: $110MQ1 ’21: $114MQ2 ’21: $138MQ2 ’21Q3 ’21: $152MQ2 ’22: $130MQ3 ’22: $112MQ3 ’22Q4 ’22: $116MQ1 ’23: $117MQ2 ’23: $123MQ2 ’23Q3 ’23: $125MQ4 ’23: $142MQ1 ’24: $156MQ1 ’24Q2 ’24: $158MQ3 ’24: $168MQ4 ’24: $178MQ4 ’24Q1 ’25: $179MQ2 ’25: $189MQ3 ’25: $210MQ3 ’25Q4 ’25: $220MQ1 ’26: $226Mfilingsflow.com

Portfolio Composition

By security type
ETP: 93.3%Common Stock: 5.7%Other: 0.9%REIT: 0.0%ADR: 0.0%Other: 0.0%
  • ETP · 93.3% · $205M
  • Common Stock · 5.7% · $13M
  • Other · 0.9% · $2M
  • REIT · 0.0% · $51,908
  • ADR · 0.0% · $49,815
  • Other · 0.0% · $9,394

Quarter-over-Quarter Changes full breakdown →

vs Q3 2025 (amended baseline)

IssuerMoveShare ΔShares nowValue ΔValue now
IJHNEW+1.9K1.9K+$126,522$126,522
SCHDNEW+989989+$27,128$27,128
IWFNEW+4848+$22,718$22,718
UBERUBERNEW+150150+$12,257$12,257
APOAPONEW+7979+$11,436$11,436
AALAALNEW+500500+$7,665$7,665
MCXMKCNEW+8585+$5,789$5,789
HUMHUMNEW+2222+$5,635$5,635

Value changes conflate price moves with buying and selling — share changes are the real signal. Share counts are not split-adjusted.

Holdings — Q4 2025

50 positions
Export to Excel
#IssuerClass% PortfolioValue ↓Shares
1SPYGETF10.07%$22M207.4K
2SPYVETF9.14%$20M353.4K
3SPSBETF7.56%$17M550.0K
4SCHMETF6.82%$15M498.5K
5SPDWETF5.56%$12M275.0K
6VGSHVGSHhistory →ETF4.92%$11M183.9K
7SPHYETF4.20%$9M389.6K
8SRLNETF4.15%$9M221.0K
9XLKETF3.82%$8M58.3K
10SCHAETF3.41%$7M263.0K
11SPMBETF2.17%$5M213.2K
12VCLTETF1.93%$4M56.0K
13ICVTETF1.87%$4M41.8K
14SPEMETF1.67%$4M78.6K
15SCHPETF1.62%$4M134.7K
16VSSETF1.60%$4M24.5K
17XLIETF1.60%$4M22.6K
18XLFXLFhistory →ETF1.55%$3M62.3K
19SPTLETF1.46%$3M121.4K
20VWOBETF1.44%$3M47.0K
21GLDMETF1.42%$3M36.6K
22XLREETF1.39%$3M75.7K
23XLVETF1.32%$3M18.7K
24XLCXLChistory →ETF1.25%$3M23.3K
25FLRNETF1.22%$3M87.3K
26FPEETF1.13%$2M136.5K
27XLYETF1.02%$2M18.8K
28SJNKETF1.02%$2M88.5K
29MLPXETF0.97%$2M35.1K
30VCITETF0.80%$2M21.1K
31JPSTETF0.68%$1M29.5K
32XLPETF0.62%$1M17.4K
33SCHRETF0.58%$1M50.6K
34AAPLAAPLStock0.51%$1M4.1K
35MSFTMSFTStock0.48%$1M2.2K
36XLEXLEETF0.47%$1M23.2K
37DUKDUKStock0.46%$1M8.7K
38LLYLLYStock0.45%$998,378929
39XLBXLBETF0.45%$982,67521.7K
40XLUXLUETF0.43%$937,77922.0K
41HDHDStock0.40%$874,7022.5K
42NVDANVDAStock0.34%$745,8144.0K
43LHStock0.32%$707,4822.8K
44PGHYETF0.28%$621,10231.2K
45QQQETF0.27%$598,383974
46AMZNAMZNStock0.23%$510,3432.2K
47VTIPETF0.22%$486,6869.8K
48VUGVUGETF0.22%$475,664975
49CWCWStock0.20%$448,183813
50LOWLOWStock0.17%$384,1681.6K

Filing History

QuarterReported ValuePositionsFiledTypeLinks
Q1 2026$226M425Apr 15, 202613F-HRchanges · EDGAR ↗
Q4 2025$220M404Jan 12, 202613F-HRchanges · EDGAR ↗
Q3 2025$210M395Nov 12, 202513F-HRchanges · EDGAR ↗
Q2 2025$189M320Aug 12, 202513F-HRchanges · EDGAR ↗
Q1 2025$179M292May 7, 2025RESTATEMENTchanges · EDGAR ↗
Q4 2024$178M272Feb 12, 202513F-HRchanges · EDGAR ↗
Q3 2024$168M285Nov 13, 202413F-HRchanges · EDGAR ↗
Q2 2024$158M276Aug 15, 2024RESTATEMENTchanges · EDGAR ↗
Q1 2024$156M266Apr 26, 202413F-HRchanges · EDGAR ↗
Q4 2023$142M55Feb 15, 202413F-HRchanges · EDGAR ↗
Q3 2023$125M49Oct 26, 202313F-HRchanges · EDGAR ↗
Q2 2023$123M49Jul 20, 202313F-HRchanges · EDGAR ↗
Q1 2023$117M51Apr 20, 202313F-HRchanges · EDGAR ↗
Q4 2022$116M52Jan 18, 202313F-HRchanges · EDGAR ↗
Q3 2022$112M58Oct 21, 202213F-HRchanges · EDGAR ↗
Q2 2022$130M55Jul 22, 202213F-HRchanges · EDGAR ↗
Q1 2022Under review56Apr 27, 202213F-HRchanges · EDGAR ↗
Q4 2021Under review124Jan 31, 202213F-HRchanges · EDGAR ↗
Q3 2021$152M146Oct 22, 202113F-HRchanges · EDGAR ↗
Q2 2021$138M137Jul 22, 202113F-HRchanges · EDGAR ↗
Q1 2021$114M118Apr 21, 202113F-HRchanges · EDGAR ↗
Q4 2020$110M106Jan 19, 202113F-HRchanges · EDGAR ↗
Q3 2020$103M99Nov 13, 202013F-HRchanges · EDGAR ↗

Other Included Managers

This filing reports holdings on behalf of 1 additional manager.

  • Advisory Alpha, LLC

13F filings are due up to 45 days after quarter end, so holdings shown here lag the fund’s current book. Source: original SEC filing on EDGAR ↗.