VANGUARD SCOTTSDALE FDS

Ticker: VMBS CUSIP: 92206C771 Class: ETF-FIXED INCOM

Horizon Investments, LLC's Holding History (CIK: 0001560717)

Note: Option positions (PUT/CALL) are excluded.

Q1 2015

Shares 189,918 Value ($000) $10,147 Avg Close — Range —

Q4 2014

Shares 180,999 Value ($000) $9,595 Avg Close — Range —

Q1 2014

Shares 163,932 Value ($000) $8,479 Avg Close — Range —

Period	Shares	Value ($000)	Average Close	Price Range
Q1 2015	189,918	$10,147	—	—
Q4 2014	180,999	$9,595	—	—
Q1 2014	163,932	$8,479	—	—