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The Horton Fund: investment adviser
Horton Capital Management, LLC, doing business as The Horton Fund, is an investment adviser registered with the SEC (file 802-122201, CRD 300195). What it reports on Form ADV: assets and clients, fees, owners, disciplinary history and its client brochure. From the SEC's Investment Adviser Public Disclosure site; read Oct 21, 2026.
- Assets managed
- –
- Discretionary
- –
- Accounts
- –
- Employees
- –
- In advisory roles
- –
- Disclosures
- 0
Company page · SEC adviser record · Full Form ADV (PDF)
The firm reports no custody of client cash or securities.
Form ADV Part 1A, Item 5, as filed on the SEC Investment Adviser Public Disclosure site; read Oct 21, 2026.
Who owns it
Schedule A lists direct owners of 5% or more (and officers who own a stake); Schedule B lists the owners of those owners.
Direct owners (Schedule A)
| Owner | Type | Role | Stake | Since | Control | Public company |
|---|---|---|---|---|---|---|
| Joseph Martin Manko | Person | Senior principal, chief investment officer, manager, member | C 25% to 50% | Dec 2012 | Yes | |
| Horton Stakeholders LLC | Company (U.S.) | Member | B 10% to 25% | Dec 2012 | ||
| David Alan Achey | Person | Principal, member, chief compliance officer | A 5% to 10% | Dec 2012 | Yes | |
| James Saul Saltzman | Person | Member | A 5% to 10% | Dec 2012 |
Indirect owners (Schedule B)
| Owner | Owns a stake in | Type | Stake | Control | Public company |
|---|---|---|---|---|---|
| David Alan Achey | Horton Stakeholders LLC | Person | C 25% to 50% | Yes | |
| Paul Howard Allen | Horton Stakeholders LLC | Person | C 25% to 50% | Yes |
Form ADV reports ownership in bands, not exact stakes: A means 5% to 10%, B 10% to 25%, C 25% to 50%, D 50% to 75%, E 75% or more. F marks a general partner, trustee or managing member, a role that controls the firm without a percentage. Owners of less than 5% are not listed.
Form ADV Schedules A and B, via the SEC Investment Adviser Public Disclosure site.
Disciplinary history
The firm answered No to every disciplinary question on Form ADV (Item 11).
The brochure
Form ADV Part 2A: the plain-language document an adviser must give its clients. Each item is shown as filed; open an item to read all of it.
Horton ADV Part 2A, filed Mar 29, 2021. Brochure PDF. Items: 4 · 5 · 6 · 7 · 8 · 9 · 10 · 11 · 12 · 13 · 14 · 15 · 16 · 17 · 18
Item 4. Advisory business
Advisory Business .............................................................................................................................. 4
Item 5. Fees and compensation
Fees and Compensation .................................................................................................................... 4
Item 6. Performance-based fees and side-by-side management
Performance‐Based Fees and Side‐By‐Side Management ................................................................ 5
Item 7. Types of clients
Types of Clients ................................................................................................................................. 6
Item 8. Methods of analysis, investment strategies and risk of loss
Methods of Analysis, Investment Strategies and Risk of Loss .......................................................... 6
Item 9. Disciplinary information
Disciplinary Information .................................................................................................................. 13
Item 10. Other financial industry activities and affiliations
Other Financial Industry Activities and Affiliations ..................................................................... 13
Item 11. Code of ethics, participation in client transactions and personal trading
Code of Ethics .............................................................................................................................. 14
Item 12. Brokerage practices
Brokerage Practices .................................................................................................................... 15
Item 13. Review of accounts
Review of Accounts ..................................................................................................................... 17
Item 14. Client referrals and other compensation
Client Referrals and Other Compensation ................................................................................. 18
Item 15. Custody
Custody ....................................................................................................................................... 18
Item 16. Investment discretion
Investment Discretion ................................................................................................................ 19
Item 17. Voting client securities
Voting Client Securities ............................................................................................................... 19
Item 18. Financial information
Financial Information .................................................................................................................. 19
Form ADV Part 2A, via the SEC Investment Adviser Public Disclosure site.