# Portfolio overlap — HSMBX vs FSMD

Comparing **Horizon Multi-Factor Small/Mid Cap Fund** (2026-02-28) and **Fidelity Small-Mid Multifactor ETF** (2026-01-31).

- Shared positions: 207
- Horizon Multi-Factor Small/Mid Cap Fund covered by Fidelity Small-Mid Multifactor ETF: 0.3442008055221411561944335244
- Fidelity Small-Mid Multifactor ETF covered by Horizon Multi-Factor Small/Mid Cap Fund: 0.3442008055221411561944335244

## Horizon Multi-Factor Small/Mid Cap Fund — top positions

| Security | Weight | Shared |
|----------|--------|--------|
| CIENA CORP | 0.029375 | ✓ |
| TECHNIPFMC PLC | 0.023767 | ✓ |
| UNITED THERAPEUTICS CORP DEL | 0.020384 | ✓ |
| CURTISS WRIGHT CORPORATION | 0.019304 | ✓ |
| COCA COLA CONSOLIDATED INC | 0.014805 | ✓ |
| JONES LANG LASALLE INC | 0.013884 | ✓ |
| ATI INC | 0.013269 |  |
| ALCOA CORP | 0.012835 |  |
| MUELLER INDUSTRIES INC | 0.012625 | ✓ |
| ANNALY CAPITAL MGMT INC REIT | 0.012148 | ✓ |
| TOLL BROTHERS INC | 0.011816 | ✓ |
| NEW YORK TIMES CO CL A | 0.011429 | ✓ |
| PERMIAN RESOURCES CORP CL A | 0.011392 | ✓ |
| RENAISSANCERE HLDGS LTD | 0.011002 | ✓ |
| NEUROCRINE BIOSCIENCES INC | 0.010786 | ✓ |
| LINCOLN ELECTRIC HLDGS INC | 0.010620 | ✓ |
| ANTERO RESOURCES | 0.010507 | ✓ |
| DYCOM INDUSTRIES INC | 0.010496 | ✓ |
| TENET HEALTHCARE CORP | 0.010444 | ✓ |
| STIFEL FINANCIAL CORP | 0.010388 | ✓ |
| RBC BEARINGS INC | 0.010158 | ✓ |
| FIVE BELOW INC | 0.009640 | ✓ |
| GLOBUS MEDICAL INC | 0.009249 | ✓ |
| FLOWSERVE CORP | 0.009097 | ✓ |
| BIOMARIN PHARMACEUTICAL INC | 0.009044 |  |
| OMEGA HEALTHCARE INVESTORS INC | 0.008698 | ✓ |
| CACI INTL-A | 0.008589 | ✓ |
| EXELIXIS INC | 0.008573 | ✓ |
| FLEX LTD | 0.008399 | ✓ |
| ACUITY INC | 0.008267 | ✓ |
| TEMPUR SEALY INTERNATIONAL INC | 0.008224 | ✓ |
| WEBSTER FINL | 0.008037 | ✓ |
| FIRSTCASH HOLDINGS INC | 0.007785 | ✓ |
| AFFIL MANAGERS | 0.007673 | ✓ |
| BORGWARNER INC | 0.007606 | ✓ |
| PENUMBRA INC | 0.007392 | ✓ |
| ANTERO MIDSTREAM CORP | 0.007362 | ✓ |
| JANUS HENDERSON GROUP PLC | 0.007215 | ✓ |
| NATL FUEL GAS CO | 0.007155 | ✓ |
| WINTRUST FINL | 0.007056 | ✓ |
| WATTS WATER TECH INC CL A | 0.006977 | ✓ |
| CRANE CO | 0.006788 | ✓ |
| ITT INC | 0.006406 | ✓ |
| MAPLEBEAR INC | 0.006378 | ✓ |
| DONALDSON CO INC | 0.006352 | ✓ |
| ZIONS BANCORP NA | 0.006343 | ✓ |
| FIRST INDUSTRIAL REALTY TRUST | 0.006332 |  |
| APPLIED INDU TEC | 0.006253 | ✓ |
| HF SINCLAIR CORP | 0.006186 |  |
| CROWN HOLDINGS INC | 0.005964 | ✓ |

## Fidelity Small-Mid Multifactor ETF — top positions

| Security | Weight | Shared |
|----------|--------|--------|
| Fidelity Securities Lending Cash Central Fund | 0.008367 |  |
| ANGLOGOLD ASHANTI PLC | 0.007359 |  |
| CIENA CORP | 0.007328 | ✓ |
| COMFORT SYSTEMS USA INC | 0.006988 |  |
| EMCOR GROUP INC | 0.005517 |  |
| TAPESTRY INC | 0.004873 |  |
| TECHNIPFMC PLC | 0.004720 | ✓ |
| UNITED THERAPEUTICS CORP DEL | 0.004561 | ✓ |
| FLEX LTD | 0.004557 | ✓ |
| CURTISS WRIGHT CORPORATION | 0.004490 | ✓ |
| CH ROBINSON WORLDWIDE INC | 0.004461 |  |
| CASEY'S GENERAL | 0.004204 |  |
| PURE STORAGE INC CL A | 0.004105 |  |
| REDDIT INC-A | 0.003813 |  |
| ROYAL GOLD INC | 0.003766 |  |
| FABRINET | 0.003724 |  |
| NEXTRACKER INC CL A | 0.003675 | ✓ |
| LOEWS CORP | 0.003672 |  |
| TEMPUR SEALY INTERNATIONAL INC | 0.003640 | ✓ |
| US FOODS HOLDING CORP | 0.003604 |  |
| BWX TECHNOLOGIES INC | 0.003602 |  |
| KRATOS DEFENSE and SEC SOLTN INC | 0.003580 |  |
| TENET HEALTHCARE CORP | 0.003576 | ✓ |
| NVENT ELECTRIC PLC | 0.003573 |  |
| WOODWARD INC | 0.003551 |  |
| JONES LANG LASALLE INC | 0.003521 | ✓ |
| INCYTE CORP | 0.003498 |  |
| IONIS PHARMACEUTICALS INC | 0.003479 |  |
| HUNTINGTON INGALLS INDUSTRIES INC | 0.003334 |  |
| EAST WEST BNCRP | 0.003327 |  |
| ROLLINS INC | 0.003312 |  |
| PENUMBRA INC | 0.003239 | ✓ |
| ANNALY CAPITAL MGMT INC REIT | 0.003234 | ✓ |
| CARPENTER TECHNOLOGY CORP | 0.003228 |  |
| PENTAIR PLC | 0.003175 |  |
| MUELLER INDUSTRIES INC | 0.003163 | ✓ |
| MEDPACE HOLDINGS INC | 0.003161 | ✓ |
| MACOM TECHNOLOGY SOLUTIONS HOLDINGS INC | 0.003114 |  |
| TOLL BROTHERS INC | 0.003089 | ✓ |
| RBC BEARINGS INC | 0.003064 | ✓ |
| RENAISSANCERE HLDGS LTD | 0.003063 | ✓ |
| RALPH LAUREN CORP | 0.003002 |  |
| TTM TECHNOLOGIES INC | 0.002980 |  |
| NORDSON CORP | 0.002970 |  |
| MASTEC INC | 0.002959 |  |
| TALEN ENERGY CORP | 0.002950 |  |
| RAMBUS INC | 0.002944 | ✓ |
| API GROUP CORP | 0.002923 |  |
| TKO GROUP HOLDINGS INC | 0.002922 |  |
| DT MIDSTREAM INC | 0.002910 | ✓ |


## Sources

- N-PORT (fund A) — accession `0000894189-26-013910` (as of 2026-02-28)
  <https://www.sec.gov/Archives/edgar/data/1643174/000089418926013910/0000894189-26-013910-index.htm>
- N-PORT (fund B) — accession `0000035402-26-002106` (as of 2026-01-31)
  <https://www.sec.gov/Archives/edgar/data/945908/000003540226002106/0000035402-26-002106-index.htm>

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