Horizon Expedition Plus ETF
Key Statistics
Historical Performance
Total return including reinvested distributions, from adjusted closing prices.
Price History
Price history is being compiled for this fund.
Top Holdings
Top 25 holdings as of Feb 28, 2026 · source: SEC N-PORT. Full holdings & prospectus →
About HBTA
The Expedition Plus Fund is an actively managedexchange-traded fund (“ETF”) that seeks to achieve its investment objective by investing primarily in large-cap U.S. equitysecurities (as well as other investment companies that invest in large-cap U.S. equity securities) and selling and purchasing put andcall options in an effort to generate income to the Fund. The Expedition Plus Fund’s investment adviser, Horizon Investments, LLC(“Horizon” or the “Adviser”) employs a variety of techniques, including strategic portfolio positioning and securityselection, to seek to achieve higher overall volatility as compared to the large-cap equity market generally. Equity Portfolio Horizon selects and weights securities using aflexible approach that combines active management and quantitative models to allocate the Fund’s portfolio between issuers, sectorsand/or factors (e.g., growth, value, momentum, quality, size and volatility) that Horizon believes offer the opportunity for the highestprojected return and above average levels of market risk. Horizon assesses projected return and risk by diversifying across stocks thathave one or more stock characteristics that Horizon believes are consistent with more aggressive factors. Additionally, Horizon may screenfor underperformers by examining underlying characteristics and sentiment that may erode stock momentum. Horizon may add or modify thesecharacteristics as economic conditions change. In constructing the portfolio, Horizon may consider industry and position constraintsto ensure sufficient diversification, as determined by Horizon. The Expedition Plus Fund expects equity securities with the foregoingcharacteristics in aggregate to have an aggressive tilt, and therefore the Expedition Plus Fund may lag the performance of traditionalU.S. large-cap equity markets when those markets decline, but is designed to outperform when U.S. large-cap equity markets experiencestrong gains. The Expedition Plus Fund will primarily invest in common stocks of large-cap companies and securities issued by publicreal estate investment trusts (“REITs”), as well as other investment companies that invest primarily in such securities.Depending on market conditions, the Expedition Plus Fund may at times focus its investments in particular sectors or areas of the economy.The Expedition Plus Fund expects to engage in frequent buying and selling of securities to achieve its investment objective. Options Portfolio The Expedition Plus Fund also seeks to generateincome through the use of an options strategy involving primarily the sale and purchase of put and call options on broad-based securitiesindices (including, without limitation, the S&P 500) or ETFs that track broad-based securities indices. The Expedition Plus Fundexpects to engage in “put spread” transactions, which consist of a sold put option on a portion of the Fund’s portfolio,and purchased put option of the same maturity with a lower strike price. The Fund seeks to generate income from the sold put optionswhile the purchased put options with a lower strike are used to hedge against a decline of the option’s reference asset. The useof this strategy is expected to increase the Expedition Plus Fund’s volatility. During periods where the U.S. equity market isrelatively stable or rising in value such that the option premiums received by the Fund exceed the change in value of the sold put option,the strategy may outperform an otherwise similar strategy that does not sell put options. Alternatively, during periods of falling marketswhere gains in the sold put options exceed the premiums received, the strategy would be expected to underperform an otherwise similarstrategy with no sold put options. In those cases, however, losses will be hedged at values of the reference asset below the strike priceof the long put option. Options purchased by the Fund may be exchange-traded(including Flexible Exchange Options (“FLEX Options”)) or traded over-the-counter (“OTC Options”). FLEX Optionsare customizable exchange-traded option contracts guaranteed for settlement by the Options Clearing Corporation (the “OCC”).Terms that can be customized for FLEX Options include exercise price, exercise styles, and expiration dates. In addition to the sale and purchase of put optionsdiscussed above, the Expedition Plus Fund may also buy or write put and call options on individual securities (including ETFs) or securitiesindices for investment purposes, to hedge other investments, or to generate additional option premiums for the Fund. The Expedition PlusFund’s options investments may involve “covered” positions where the Fund may write a call option on an underlyingposition to generate income. The Expedition Plus Fund may involve a “collateralized” strategy more generally, where the Fundmay write put options on a security whose value is collateralized by cash (“cash-secured puts”) or otherwise collateralizedby the Fund’s securities. The Expedition Plus Fund may also write options on individual securities that it does not hold inits portfolio (i.e., “naked” options), which have the potential for unlimited loss. In addition tothe put spreads discussed above, the Expedition Plus Fund’s option strategies may also involve other options combinations, suchas spreads, straddles and collars. In “spread” transactions, the Expedition Plus Fund buys and writes a put or buys and writesa call on the same underlying instrument with the options having different strike prices, expiration dates, or both. When the ExpeditionPlus Fund engages in spread transactions, it seeks to profit from differences in the option premiums paid and received and in the marketprices of the related options positions when they are closed out or sold. In “straddles,” the Expedition Plus Fund purchasesa put option and a call option or writes a put option and a call option on the same instrument with the same expiration date and thesame strike price. A “collar” position combines a put option purchased by the Expedition Plus Fund (the right of the ExpeditionPlus Fund to sell a specific security within a specified period) with a call option that is written by the Expedition Plus Fund (theright of the counterparty to buy the same security) in a single instrument, and the Expedition Plus Fund’s right to sell the securityis typically set at a price that is below the counterparty’s right to buy the security. Thus, the combined position “collars”the performance of the underlying security, providing protection from depreciation below the price specified in the put option, and allowingfor participation in any appreciation up to the price specified by the call option. In each case, the premium received for writing anoption offsets, in part, the premium paid to purchase the corresponding option; however, downside protection may be limited as comparedto just owning a single option. There is no limit on the number or size of the options transactions in which the Expedition Plus Fundmay engage.
HBTA News
Data for HBTA is aggregated from third-party providers (Tiingo, Nasdaq, Finnhub) and SEC filings, may be delayed at least 20 minutes, and may be incomplete or contain errors. Nothing here is investment advice. Verify with the official prospectus before investing.