Horizon Investments

Horizon Investments as of Dec. 31, 2012

Portfolio Holdings for Horizon Investments

Horizon Investments holds 0 positions in its portfolio as reported in the December 2012 quarterly 13F filing

                TITLE OF              VALUE      SHARES/ SH/ PUT/ INVSTMT  OTHER     VOTING AUTHORITY
NAME OF ISSUER                 CLASS    CUSIP     (x$1000)     PRN AMT PRN CALL DSCRETN MANAGERS SOLE   SHARED   NONE

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{S}                            {C}       {C}         {C}         {C}    {C}      {C}       {C}    {C}     {C}     {C}

ARMOUR RESIDENTI                COM     042315101   92.0        14167     SH      SOLE    NONE    0         0         14167
ISHARES INC MSCI BRIC INDX      COM     464286657   322.0       7894      SH      SOLE    NONE    0         0         7894
ISHARES MSCI MEXICO INVESTABLE  COM     464286822   333.0       4720      SH      SOLE    NONE    0         0         4720
ISHARES TR SP 100 IDX FD        COM     464287101   18166.0     280813    SH      SOLE    NONE    128673    0         152140
ISHARES TR FTSE CHINA25 IDX     COM     464287184   339.0       8388      SH      SOLE    NONE    0         0         8388
ISHARES SP 500 INDEX            COM     464287200   897.0       6264      SH      SOLE    NONE    0         0         6264
ISHARES BARCLAYS AGGREGATE BON  COM     464287226   19493.0     175487    SH      SOLE    NONE    0         0         175487
ISHARES TR IBOXX INV CPBD       COM     464287242   1327.0      10964     SH      SOLE    NONE    0         0         10964
ISHARES SP 500 GROWTH INDEX     COM     464287309   19294.0     254736    SH      SOLE    NONE    116531    0         138205
ISHARES TR SP 500 VALUE         COM     464287408   15191.0     228817    SH      SOLE    NONE    104638    0         124179
ISHARES TR RUSSELL MIDCAP       COM     464287499   843.0       7452      SH      SOLE    NONE    0         0         7452
ISHARES SP MIDCAP 400 INDEX     COM     464287507   404.0       3973      SH      SOLE    NONE    0         0         3973
ISHARES RUSSELL 1000 VALUE IND  COM     464287598   2404.0      33014     SH      SOLE    NONE    0         0         33014
ISHARES TR RUSSELL1000GRW       COM     464287614   2281.0      34831     SH      SOLE    NONE    0         0         34831
ISHARES RUSSELL 1000 INDEX      COM     464287622   36942.0     466732    SH      SOLE    NONE    213795    0         252937
ISHARES TR MSCI ACJPN IDX       COM     464288182   648.0       10706     SH      SOLE    NONE    0         0         10706
ISHARES TR SP NTL AMTFREE       COM     464288414   315.0       2846      SH      SOLE    NONE    0         0         2846
ISHARES IBOXX $ HIGH YIELD COR  COM     464288513   7981.0      85492     SH      SOLE    NONE    0         0         85492
ISHARES TR BARCLYS CR BD        COM     464288620   4726.0      41765     SH      SOLE    NONE    0         0         41765
PROSHARES TR PSHS ULTSH 20YRS   COM     74347B201   317.0       4995      SH      SOLE    NONE    0         0         4995
PROSHARES TR PSHS ULSHT SP500   COM     74347B300   203.0       3759      SH      SOLE    NONE    0         0         3759
PULSE ELECTRONICS CORP          COM     74586W106   6.0         20648     SH      SOLE    NONE    0         0         20648
SPDR SP 500                     COM     78462F103   24154.0     169612    SH      SOLE    NONE    77543     0         92069
SPDR GOLD TRUST GOLD SHS        COM     78463V107   288.0       1775      SH      SOLE    NONE    0         0         1775
SELECT SECTOR SPDR TR SBI HEAL  COM     81369Y209   457.0       11451     SH      SOLE    NONE    0         0         11451
FINANCIAL SELECT SECTOR SPDR    COM     81369Y605   339.0       20672     SH      SOLE    NONE    0         0         20672
VALLEY NATL BANCORP             COM     919794107   101.0       10892     SH      SOLE    NONE    0         0         10892
VANGUARD LARGE CAP ETF          COM     922908637   24108.0     369984    SH      SOLE    NONE    169422    0         200562
FIRST TR EXCHANGE TRADED FD DJ  COM     33733E302   975.0       25029     SH      SHARED  01      0         0         25029
FIRST TR SP REIT INDEX FD       COM     33734G108   937.0       52763     SH      SHARED  01      0         0         52763
FIRST TRUST CONSUMER DISC ALPH  COM     33734X101   968.0       42835     SH      SHARED  01      0         0         42835
FIRST TRUST CONSUMER STAPLES A  COM     33734X119   986.0       38914     SH      SHARED  01      0         0         38914
FIRST TR EXCHANGE TRADED FD HL  COM     33734X143   967.0       29689     SH      SHARED  01      0         0         29689
ISHARES TR BARCLYS TIPS BD      COM     464287176   1459.0      12015     SH      SHARED  01      0         0         12015
ISHARES TR IBOXX INV CPBD       COM     464287242   2636.0      21788     SH      SHARED  01      0         0         21788
ISHARES MSCI EAFE INDEX         COM     464287465   444.0       7811      SH      SHARED  01      0         0         7811
ISHARES TR RUSSELL1000GRW       COM     464287614   353.0       5392      SH      SHARED  01      0         0         5392
ISHARES TR JPMORGAN USD         COM     464288281   219.0       1783      SH      SHARED  01      0         0         1783
POWERSHARES DB AGRICULTURE      COM     73936B408   448.0       16041     SH      SHARED  01      0         0         16041
POWERSHS DB MULTI SECT M DB GO  COM     73936B606   495.0       8632      SH      SHARED  01      0         0         8632
SPDR SP 500                     COM     78462F103   535.0       3760      SH      SHARED  01      0         0         3760
SPDR SERIES TRUST BRC HGH YLD   COM     78464A417   275.0       6752      SH      SHARED  01      0         0         6752
SPDR BARCLAYS CAPITAL INTL TRE  COM     78464A516   1974.0      32359     SH      SHARED  01      0         0         32359
VANGUARD INTERMEDIATE-TERM BON  COM     921937819   3294.0      37328     SH      SHARED  01      0         0         37328
VANGUARD SHORT-TERM BOND ETF    COM     921937827   2185.0      26984     SH      SHARED  01      0         0         26984
VANGUARD MSCI EMERGING MARKETS  COM     922042858   298.0       6692      SH      SHARED  01      0         0         6692
VANGUARD MID-CAP ETF            COM     922908629   359.0       4357      SH      SHARED  01      0         0         4357
VANGUARD INDEX FDS VALUE ETF    COM     922908744   710.0       12082     SH      SHARED  01      0         0         12082