Horizon Investment Services, LLC

The portfolio exhibits a mix of high-conviction single-stock picks and broad market exposure through ETFs. While the number of holdings (56) suggests moderate diversification, the allocation is heavily skewed toward the top positions, indicating a conviction-based approach rather than a passive indexing strategy. The management team appears highly active, evidenced by a turnover rate where 29 positions were sold and 29 new positions were initiated, representing a complete overhaul of roughly half the portfolio's constituents.

2. Key Holdings