# Horan Securities, Inc.

> Institutional holdings reported to the SEC as of Q2 2025 on Form 13F. CIK 1671623. Source: https://holderbook.com/funds/1671623-horan-securities-inc/

- Reported value: $284.2M
- Positions: 152
- Weight of the ten largest: 70.6%
- Filed: 2025-08-06

A 13F reports long US equity positions only. Short positions, bonds, foreign listings, private holdings and cash are not visible, so this is not the manager's whole book.

## Holdings

| Security | Ticker | Value | Shares | Weight | Quarters held |
|---|---|---|---|---|---|
| ISHARES TR | [IVV](https://holderbook.com/stocks/IVV/) | $131.6M | 211,899 | 46.3% | 26 |
| ISHARES TR | [IJH](https://holderbook.com/stocks/IJH/) | $21.7M | 349,143 | 7.6% | 26 |
| ISHARES TR | [IJR](https://holderbook.com/stocks/IJR/) | $17.9M | 164,095 | 6.3% | 26 |
| PROCTER & GAMBLE CO | [PG](https://holderbook.com/stocks/PG/) | $10.8M | 67,560 | 3.8% | 26 |
| APPLE INC | [AAPL](https://holderbook.com/stocks/AAPL/) | $4.6M | 22,278 | 1.6% | 26 |
| ISHARES TR | [IWF](https://holderbook.com/stocks/IWF/) | $3.4M | 8,105 | 1.2% | 26 |
| MICROSOFT CORP | [MSFT](https://holderbook.com/stocks/MSFT/) | $3.4M | 6,911 | 1.2% | 26 |
| NVIDIA CORPORATION | [NVDA](https://holderbook.com/stocks/NVDA/) | $2.6M | 16,319 | 0.9% | 5 |
| VANGUARD INDEX FDS | [VTI](https://holderbook.com/stocks/VTI/) | $2.4M | 7,883 | 0.8% | 19 |
| GE AEROSPACE | [GE](https://holderbook.com/stocks/GE/) | $2.3M | 8,853 | 0.8% | 16 |
| ISHARES TR | [IWR](https://holderbook.com/stocks/IWR/) | $1.9M | 20,446 | 0.7% | 26 |
| SPDR SERIES TRUST | [SPYM](https://holderbook.com/stocks/SPYM/) | $1.8M | 24,623 | 0.6% | 1 |
| VANGUARD INDEX FDS | [VOO](https://holderbook.com/stocks/VOO/) | $1.8M | 3,106 | 0.6% | 21 |
| ISHARES TR | [EFV](https://holderbook.com/stocks/EFV/) | $1.6M | 25,891 | 0.6% | 11 |
| JPMORGAN CHASE & CO | [JPM](https://holderbook.com/stocks/JPM/) | $1.6M | 5,567 | 0.6% | 21 |
| ISHARES TR | [QUAL](https://holderbook.com/stocks/QUAL/) | $1.5M | 8,207 | 0.5% | 21 |
| EATON CORP PLC | [ETN](https://holderbook.com/stocks/ETN/) | $1.5M | 4,174 | 0.5% | 1 |
| VANGUARD SPECIALIZED FUNDS | [VIG](https://holderbook.com/stocks/VIG/) | $1.4M | 6,768 | 0.5% | 7 |
| STATE STR SPDR S&P 500 ETF T | [SPY](https://holderbook.com/stocks/SPY/) | $1.3M | 2,106 | 0.5% | 21 |
| SSGA ACTIVE ETF TR | [RLY](https://holderbook.com/stocks/RLY/) | $1.2M | 42,838 | 0.4% | 13 |
| BROADCOM INC | [AVGO](https://holderbook.com/stocks/AVGO/) | $1.2M | 4,463 | 0.4% | 19 |
| LOCKHEED MARTIN CORP | [LMT](https://holderbook.com/stocks/LMT/) | $1.2M | 2,558 | 0.4% | 5 |
| ISHARES TR | [AGG](https://holderbook.com/stocks/AGG/) | $1.1M | 11,230 | 0.4% | 21 |
| VANGUARD INDEX FDS | [VUG](https://holderbook.com/stocks/VUG/) | $1.1M | 2,519 | 0.4% | 7 |
| ISHARES TR | [IWM](https://holderbook.com/stocks/IWM/) | $1.1M | 5,053 | 0.4% | 4 |
| LCNB CORP | [LCNB](https://holderbook.com/stocks/LCNB/) | $1.1M | 74,899 | 0.4% | 7 |
| SPDR SERIES TRUST | [SPSM](https://holderbook.com/stocks/SPSM/) | $1.1M | 24,953 | 0.4% | 1 |
| JOHNSON & JOHNSON | [JNJ](https://holderbook.com/stocks/JNJ/) | $1.1M | 6,878 | 0.4% | 21 |
| SPDR SERIES TRUST | [SPTS](https://holderbook.com/stocks/SPTS/) | $1.0M | 35,308 | 0.4% | 19 |
| VANGUARD MUN BD FDS | [VTEB](https://holderbook.com/stocks/VTEB/) | $998.9K | 20,374 | 0.4% | 1 |
| ISHARES TR | [IBDQ](https://holderbook.com/stocks/IBDQ/) | $995.9K | 39,551 | 0.4% | 11 |
| HOME DEPOT INC | [HD](https://holderbook.com/stocks/HD/) | $988.2K | 2,695 | 0.3% | 21 |
| ISHARES TR | [IEI](https://holderbook.com/stocks/IEI/) | $983.7K | 8,260 | 0.3% | 21 |
| ISHARES TR | [IBDS](https://holderbook.com/stocks/IBDS/) | $974.4K | 40,147 | 0.3% | 6 |
| ISHARES TR | [IBDR](https://holderbook.com/stocks/IBDR/) | $972.2K | 40,092 | 0.3% | 11 |
| ISHARES TR | [IBDT](https://holderbook.com/stocks/IBDT/) | $959.0K | 37,725 | 0.3% | 3 |
| GE VERNOVA INC | [GEV](https://holderbook.com/stocks/GEV/) | $957.7K | 1,810 | 0.3% | 5 |
| CSX CORP | [CSX](https://holderbook.com/stocks/CSX/) | $939.0K | 28,776 | 0.3% | 17 |
| VICTORY PORTFOLIOS II | [UITB](https://holderbook.com/stocks/UITB/) | $926.0K | 19,672 | 0.3% | 6 |
| CINTAS CORP | [CTAS](https://holderbook.com/stocks/CTAS/) | $922.6K | 4,140 | 0.3% | 21 |
| VANGUARD INDEX FDS | [VTV](https://holderbook.com/stocks/VTV/) | $906.5K | 5,129 | 0.3% | 2 |
| RTX CORPORATION | [RTX](https://holderbook.com/stocks/RTX/) | $876.9K | 6,005 | 0.3% | 21 |
| NORDSON CORP | [NDSN](https://holderbook.com/stocks/NDSN/) | $866.1K | 4,040 | 0.3% | 1 |
| ISHARES TR | [IXUS](https://holderbook.com/stocks/IXUS/) | $844.5K | 10,924 | 0.3% | 21 |
| ISHARES TR | [IEF](https://holderbook.com/stocks/IEF/) | $833.1K | 8,699 | 0.3% | 19 |
| ISHARES TR | [EFG](https://holderbook.com/stocks/EFG/) | $832.0K | 7,429 | 0.3% | 13 |
| BERKSHIRE HATHAWAY INC DEL | [BRKB](https://holderbook.com/stocks/BRKB/) | $808.7K | 1,665 | 0.3% | 21 |
| ALPHABET INC | [GOOGL](https://holderbook.com/stocks/GOOGL/) | $803.2K | 4,558 | 0.3% | 20 |
| VANGUARD INTL EQUITY INDEX F | [VWO](https://holderbook.com/stocks/VWO/) | $791.6K | 16,005 | 0.3% | 26 |
| SPDR SERIES TRUST | [SPMD](https://holderbook.com/stocks/SPMD/) | $786.6K | 14,466 | 0.3% | 1 |
| ISHARES TR | [EFA](https://holderbook.com/stocks/EFA/) | $775.1K | 8,672 | 0.3% | 21 |
| WALMART INC | [WMT](https://holderbook.com/stocks/WMT/) | $754.7K | 7,718 | 0.3% | 20 |
| ABBVIE INC | [ABBV](https://holderbook.com/stocks/ABBV/) | $740.4K | 3,989 | 0.3% | 19 |
| SCHWAB STRATEGIC TR | [SCHB](https://holderbook.com/stocks/SCHB/) | $719.8K | 30,207 | 0.3% | 16 |
| ISHARES TR | [IWD](https://holderbook.com/stocks/IWD/) | $686.3K | 3,533 | 0.2% | 26 |
| ISHARES TR | [USMV](https://holderbook.com/stocks/USMV/) | $685.3K | 7,301 | 0.2% | 7 |
| ISHARES TR | [EEM](https://holderbook.com/stocks/EEM/) | $664.3K | 13,770 | 0.2% | 21 |
| CHEVRON CORPORATION | [CVX](https://holderbook.com/stocks/CVX/) | $650.7K | 4,544 | 0.2% | 21 |
| JOHN HANCOCK EXCHANGE TRADED | [JHMM](https://holderbook.com/stocks/JHMM/) | $649.1K | 10,619 | 0.2% | 2 |
| ISHARES INC | [IEMG](https://holderbook.com/stocks/IEMG/) | $633.5K | 10,553 | 0.2% | 6 |
| VICTORY PORTFOLIOS II | [USTB](https://holderbook.com/stocks/USTB/) | $632.1K | 12,438 | 0.2% | 3 |
| VANGUARD TAX-MANAGED FDS | [VEA](https://holderbook.com/stocks/VEA/) | $603.2K | 10,581 | 0.2% | 21 |
| ENERGY TRANSFER L P | [ET](https://holderbook.com/stocks/ET/) | $596.5K | 32,900 | 0.2% | 5 |
| META PLATFORMS INC | [META](https://holderbook.com/stocks/META/) | $583.9K | 791 | 0.2% | 5 |
| ALPHABET INC | [GOOG](https://holderbook.com/stocks/GOOG/) | $583.6K | 3,290 | 0.2% | 7 |
| ABBOTT LABORATORIES | [ABT](https://holderbook.com/stocks/ABT/) | $577.5K | 4,246 | 0.2% | 18 |
| WORLD GOLD TR | [GLDM](https://holderbook.com/stocks/GLDM/) | $571.4K | 8,720 | 0.2% | 2 |
| AMERICAN CENTY ETF TR | [AVDE](https://holderbook.com/stocks/AVDE/) | $564.4K | 7,626 | 0.2% | 1 |
| VANGUARD INTL EQUITY INDEX F | [VEU](https://holderbook.com/stocks/VEU/) | $555.2K | 8,260 | 0.2% | 26 |
| ALPS ETF TR | [OUSM](https://holderbook.com/stocks/OUSM/) | $550.4K | 12,738 | 0.2% | 6 |
| SCHWAB STRATEGIC TR | [SCHF](https://holderbook.com/stocks/SCHF/) | $549.4K | 24,859 | 0.2% | 7 |
| EXXON MOBIL CORP | [XOMXXXX](https://holderbook.com/stocks/XOMXXXX/) | $537.8K | 4,989 | 0.2% | 21 |
| TRANE TECHNOLOGIES PLC | [TT](https://holderbook.com/stocks/TT/) | $537.8K | 1,229 | 0.2% | 18 |
| VISA INC | [V](https://holderbook.com/stocks/V/) | $536.6K | 1,511 | 0.2% | 20 |
| INTERNATIONAL BUSINESS MACHS | [IBM](https://holderbook.com/stocks/IBM/) | $510.4K | 1,731 | 0.2% | 21 |
| FIRST TR EXCHNG TRADED FD VI | [UCON](https://holderbook.com/stocks/UCON/) | $508.1K | 20,416 | 0.2% | 6 |
| SCHWAB STRATEGIC TR | [FNDA](https://holderbook.com/stocks/FNDA/) | $494.4K | 17,257 | 0.2% | 18 |
| DUKE ENERGY CORP NEW | [DUK](https://holderbook.com/stocks/DUK/) | $478.7K | 4,056 | 0.2% | 21 |
| TJX COS INC NEW | [TJX](https://holderbook.com/stocks/TJX/) | $465.5K | 3,770 | 0.2% | 20 |
| MERCK & CO INC | [MRK](https://holderbook.com/stocks/MRK/) | $460.1K | 5,812 | 0.2% | 21 |
| INVESCO EXCHANGE TRADED FD T | [RSP](https://holderbook.com/stocks/RSP/) | $455.8K | 2,508 | 0.2% | 3 |
| NORFOLK SOUTHN CORP | [NSC](https://holderbook.com/stocks/NSC/) | $451.6K | 1,764 | 0.2% | 12 |
| VANGUARD INDEX FDS | [VNQ](https://holderbook.com/stocks/VNQ/) | $445.9K | 5,007 | 0.2% | 26 |
| AMGEN INC | [AMGN](https://holderbook.com/stocks/AMGN/) | $429.2K | 1,537 | 0.2% | 20 |
| VERIZON COMMUNICATIONS INC | [VZ](https://holderbook.com/stocks/VZ/) | $417.8K | 9,656 | 0.1% | 21 |
| HILLENBRAND INC | [HI](https://holderbook.com/stocks/HI/) | $414.0K | 20,627 | 0.1% | 9 |
| VANGUARD INDEX FDS | [VB](https://holderbook.com/stocks/VB/) | $412.9K | 1,742 | 0.1% | 26 |
| WILLIAMS COS INC | [WMB](https://holderbook.com/stocks/WMB/) | $412.9K | 6,573 | 0.1% | 18 |
| VICTORY PORTFOLIOS II | [VFLO](https://holderbook.com/stocks/VFLO/) | $406.5K | 11,499 | 0.1% | 1 |
| ISHARES TR | [IBMN](https://holderbook.com/stocks/IBMN/) | $405.7K | 15,160 | 0.1% | 11 |
| CARRIER GLOBAL CORPORATION | [CARR](https://holderbook.com/stocks/CARR/) | $405.5K | 5,540 | 0.1% | 5 |
| ISHARES TR | [MUB](https://holderbook.com/stocks/MUB/) | $403.3K | 3,860 | 0.1% | 26 |
| COLGATE PALMOLIVE CO | [CL](https://holderbook.com/stocks/CL/) | $401.8K | 4,420 | 0.1% | 4 |
| QUALCOMM INC | [QCOM](https://holderbook.com/stocks/QCOM/) | $396.3K | 2,489 | 0.1% | 21 |
| HARTFORD INSURANCE GROUP INC | [HIG](https://holderbook.com/stocks/HIG/) | $389.6K | 3,071 | 0.1% | 18 |
| CISCO SYS INC | [CSCO](https://holderbook.com/stocks/CSCO/) | $386.0K | 5,563 | 0.1% | 21 |
| PEPSICO INC | [PEP](https://holderbook.com/stocks/PEP/) | $378.9K | 2,870 | 0.1% | 21 |
| AMAZON COM INC | [AMZN](https://holderbook.com/stocks/AMZN/) | $374.4K | 1,707 | 0.1% | 6 |
| AUTOMATIC DATA PROCESSING IN | [ADP](https://holderbook.com/stocks/ADP/) | $369.0K | 1,196 | 0.1% | 21 |
| ISHARES TR | [IEFA](https://holderbook.com/stocks/IEFA/) | $360.2K | 4,315 | 0.1% | 1 |

## What the disclosed book did

Not the fund's return. This is the change in value of the positions disclosed on Form 13F, had they been left untouched, against SPY over the same quarter ends.

| Quarter | Book | Market | Difference | Priced |
|---|---|---|---|---|
| Q2 2025 | +7.5% | +10.5% | -3.0% | 99% |
| Q1 2025 | -4.1% | -4.6% | +0.5% | 99% |
| Q4 2024 | +0.3% | +2.1% | -1.8% | 98% |
| Q3 2024 | +6.3% | +5.4% | +0.9% | 98% |
| Q2 2024 | +1.6% | +4.0% | -2.4% | 98% |
| Q1 2024 | +7.3% | +10.0% | -2.7% | 99% |
| Q4 2023 | +10.8% | +11.2% | -0.3% | 98% |
| Q3 2023 | -4.1% | -3.6% | -0.5% | 99% |

## Quarter by quarter

| Quarter | Value | Positions |
|---|---|---|
| Q2 2025 | $284.2M | 152 |
| Q1 2025 | $264.3M | 135 |
| Q4 2024 | $263.6M | 129 |
| Q3 2024 | $259.3M | 140 |
| Q2 2024 | $231.3M | 123 |
| Q1 2024 | $211.9M | 114 |
| Q4 2023 | $198.8M | 106 |
| Q3 2023 | $187.9M | 100 |
| Q2 2023 | $236.2M | 721 |
| Q1 2023 | $194.8M | 738 |
| Q4 2022 | $178.0M | 783 |
| Q3 2022 | $162.0M | 575 |