Horizon Digital Frontier ETF

Key Statistics

Historical Performance

Total return including reinvested distributions, from adjusted closing prices.

Top Holdings

Top 25 holdings as of May 31, 2026 · source: SEC N-PORT. Full holdings & prospectus →

About YNOT

The Digital Frontier Fund is an actively managed exchange-tradedfund (“ETF”) that seeks to achieve its investment objective by investing primarily in equity securities of U.S. and foreign(non-U.S.) companies that offer exposure to emerging technologies that are in various phases of development. These companies may include,without limitation, those involved with the development of technologies related to artificial intelligence, automation, quantum computingand digital assets such as cryptocurrency (“Digital Assets”). The Fund’s investment adviser, Horizon Investments,LLC (“Horizon”) considers a company to be involved with the development of emerging technologies if the company derives asubstantial portion of its revenues or profits from, or commits significant capital expenditures or resources to, the research, experimentation,design, engineering, construction, fabrication, deployment, or commercialization of emerging technologies, including, without limitation,companies advancing machine learning, deep learning, natural language processing, computer vision, robotics, advanced manufacturing,industrial automation, autonomous systems, quantum computing hardware and software, blockchain applications, cryptocurrency infrastructure,or other technologies. Horizon believes that emerging technologies generallyexperience four phases of development. Companies in the first phase of the technology development cycle (Phase 1 companies) are the earlymovers, the pioneers that originated or are advancing the initial stages of development of an emerging technology or have identified andinvested in the potential of an emerging technology at an early stage. Phase 2 companies are companies involved in building out the infrastructureor systems that allows the technological breakthroughs made by the Phase 1 companies to be leveraged. Phase 3 companies use this infrastructureto create and monetize products relying on emerging technologies. Phase 4 companies use the products powered by emerging technologiesto drive efficiency, cut costs, and/or make breakthroughs of their own. Horizon seeks to invest the Fund’s assets in equity securitiesof companies involved with emerging technologies at one or more of these phases of development. As emerging technologies mature, Horizonanticipates that companies across the four phases will be positioned to benefit from the anticipated growth. Horizon utilizes a multi-disciplinary approach thatcombines active management with economic, quantitative, and fundamental analysis (e.g., factors such as growth, value, momentum, quality,size, and volatility) to identify and select companies within each phase, as well as to determine the Fund’s overall exposure amongthe four phases of development. The Adviser expects this exposure will result in a portfolio of investments with an aggressive risk/returnprofile, and as a result, expects that the Fund may outperform in strong up markets for U.S. equities, but underperform in down markets.toidentify and select companies within each phase, as well as to determine the Fund’s overall exposure among the four phases of development.The Adviser expects this exposure will result in a portfolio of investments with an aggressive risk/return profile, and as a result, expectsthat the Fund may outperform in strong up markets for U.S. equities, but underperform in down markets. The Fund may also invest in cryptocurrency, includingBitcoin, indirectly through exchange-traded products that are listed and traded on US exchanges (i.e., registered under the SecuritiesAct of 1933) and invest primarily in such cryptocurrencies (“Cryptocurrency ETPs”). The Fund will not invest directly in Bitcoinor other cryptocurrencies.  The Fund’s investments may include commonstocks, American Depositary Receipts (“ADRs”) and other investment companies that invest in any of the foregoing. TheFund’s investments in foreign securities will be in both developed and emerging markets. Horizon selects portfolio investmentswithout restriction as to the issuer country, market capitalization or currency denomination and does not maintain a target allocationfor the Fund between domestic and foreign investments. The Fund may engage in frequent trading to achieve its objective and, dependingon Horizon’s outlook and market conditions, may focus its investments in particular sectors or areas of economy, including, withoutlimitation, the technology sector. Options: The Fund may, at times, seek to enhancereturns through the use of an options strategy involving primarily the sale and purchase of call options and call spreads on individualsecurities (including ETFs) or securities indices. Call spreads are transactions where the Fund purchases a call and simultaneously sellsa call on the same security, with the call sold having a higher strike price than the call purchased. The purchased call is designed toprovide exposure to a potential increase in the value of a security. The premium received by the Fund for writing the call offsets, inpart, the premium paid to purchase the corresponding call, but it also means that the Fund will not benefit from increases in the priceof the security beyond the sold call’s strike price. Options used by the Fund will generally be exchange-traded, including FlexibleExchange Options (“FLEX Options”). FLEX Options are customizable exchange-traded option contracts guaranteed for settlementby the Options Clearing Corporation (the “OCC”). Terms that can be customized for FLEX Options include exercise price, exercisestyles, and expiration dates. The Fund’s use of options may be opportunisticand vary based on Horizon’s market outlook, risk assessment, and portfolio management objectives. The Fund may also use optionsfor hedging purposes, to manage portfolio risk, or to enhance return potential in a cost-effective manner. The Fund’s investmentstrategies, including its use of options, are subject to change based on the Adviser’s ongoing assessment of market conditions andthe investment opportunities available. The Fund is classified as non-diversified under theInvestment Company Act of 1940, as amended (the “1940 Act”), which means that it may invest a high percentage of its assetsin a limited number of issuers.

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