Horizon Core Equity ETF is an actively managed exchange-traded fund that seeks capital appreciation through a diversified portfolio of equity securities, primarily U.S. companies across all market capitalizations. The fund invests in common stocks; real estate investment trusts; American depositary receipts representing non-U.S. companies; and exchange-traded funds, and employs an active, multi-factor security-selection process incorporating economic, quantitative and fundamental analysis, with consideration of growth, value, momentum, quality, size and volatility factors. It also uses tactical options strategies, including put spreads, to pursue income enhancement and manage portfolio risk exposure. The fund is designed principally for financial advisors and investors seeking actively managed U.S. equity exposure and is listed on the Cboe BZX Exchange under the ticker STOX. Horizon Investments, LLC serves as investment adviser, with Horizon Funds as the registrant. Horizon Core Equity ETF commenced operations on June 25, 2025, and is based at Horizon’s Charlotte, North Carolina headquarters. In June 2025, Horizon Investments launched STOX alongside the Horizon Dividend Income ETF and Horizon Managed Risk ETF as part of an expansion of its ETF product lineup for modern financial advisors; the launch introduced a domestic, multi-factor, options-based core-equity strategy to the firm’s exchange-traded fund offerings.