<PAGE> 1
U.S. SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 24F-2
ANNUAL NOTICE OF SECURITIES SOLD
PURSUANT TO RULE 24F-2
Read Instructions at end of Form before preparing Form.
Please print or type.
1. Name and address of issuer:
VANGUARD HORIZON FUND, INC.
2. Name of each series or class of funds for which this notice is filed:
Global Asset Allocation Portfolio
Global Equity Portfolio
Capital Opportunity Portfolio
Aggressive Growth Portfolio
3. Investment Company Act File Number: 811-07029
Securities Act File Number: 33-56443
4. Last day of fiscal year for which this notice is filed:
October 31, 1995
5. Check box if this notice is being filed more than 180 days after the
close of the issuer's fiscal year for purposes of reporting
securities sold after the close of the fiscal year but before
termination of the issuer's 24f-2 declaration:
/ /
6. Date of termination of issuer's declaration under rule 24f-2(a)(1), if
applicable (see Instruction A.6):
N/A
7. Number and amount of securities of the same class or series which had
been registered under the Securities Act of 1933 other than pursuant
to rule 24f-2 in a prior fiscal year, but which remained unsold at the
beginning of the fiscal year.
None
8. Number and amount of securities registered during the fiscal year
other than pursuant to rule 24f-2:
None
9. Number and aggregate sales price of securities sold during the fiscal
year:
21,707,527 Shares of Common Stock
$219,066,107 Aggregate Sales Price
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10. Number and aggregate sales price of securities sold during the fiscal
year in reliance upon registration pursuant to rule 24f-2:
21,707,527 Shares
$219,066,107 Aggregate Sales Price
11. Number and aggregate sale price of securities issued during the fiscal
year in connection with dividend reinvestment plans, if applicable
(see Instruction B.7):
None
12. Calculation of registration fee:
<TABLE>
<S> <C>
(i) Aggregate sales price of securities sold during the fiscal
year in reliance on rule 24f-2 (from Item 10): $219,066,107
(ii) Aggregate price of shares issued in connection with
dividend reinvestment plans (from Item 11, if applicable): + -0-
(iii) Aggregate price of shares redeemed or repurchased during
the fiscal year (if applicable): - 2,460,326
(iv) Aggregate price of shares redeemed or repurchased and
previously applied as a reduction to filing fees pursuant to
rule 24f-2 (if applicable): + -0-
(v) Net aggregate price of securities sold and issued during
the fiscal year in reliance on rule 24f-2 [line (I), plus line
(ii), less line (iii), plus line (iv)] (if applicable): $ 216,605,781
(vi) Multiplier prescried by Section 6(b) of the Securities Act
of 1933 or other applicable law or regulation (see
Instruction C.6): x 1/29 of 1%
(vii) Fee due [line (i) or line (v) multiplied by line (vi)]: $74,691.65
</TABLE>
INSTRUCTION: Issuers should complete lines (ii), (iii), (iv), and (v) only
if the form is being filed within 60 days after the close of
the issuer's fiscal year. See Instruction C.3.
13. Check box if fees are being remitted to the Commission's lockbox
depository as described in section 3a of the Commission's Rules of
Informal and Other Procedures (17 CFR 202.3a).
/ /
Date of mailing or wire transfer of filing fees to the Commission's
lockbox depository:
SIGNATURES
This report has been signed below by the following persons on behalf
of the issuer and in the capacities and on the dated indicated:
By (Signature and Title) /s/ RAYMOND J. KLAPINSKY
---------------------------------------------
Raymond J. Klapinsky, Secretary
Date December 20, 1995
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"EXHIBIT A"
December 19, 1995
Vanguard Horizon Fund, Inc.
100 Vanguard Boulevard
Malvern, PA 19355
Gentlemen:
I am acting as counsel to Vanguard Horizon Fund, Inc. (the "Fund"), in
connection with its registration as an open-end management investment company
under the Investment Company Act of 1940 ("1940 Act"), as amended. It is in my
capacity as counsel to the Fund that I am furnishing you this opinion.
I have examined the Fund's: (1) Articles of Incorporation, and amendments
thereto; (2) minutes of the meetings of shareholders and Directors; (3)
Notification of Registration on Form N-8A under the 1940 Act; (4) Registration
on Form N-1A under the Securities Act of 1933 ("1933 Act") and 1940 Act, and
all amendments thereto; and (5) all other relevant documents and records, as
well as the procedures and requirements relative to the issuance and sale of
the Fund's shares.
The Fund is currently authorized to issue 1,000,000,000 shares of its common
stock with a par value of $1.00 per share from four classes ("Portfolios") of
shares, which are designated the Global Asset Allocation Portfolio (250,000,000
authorized shares), Global Equity Portfolio (250,000,000 authorized shares),
Capital Appreciation Portfolio (250,000,000 authorized shares), and Aggressive
Growth Portfolio (250,000,000 authorized shares). On October 31, 1995 (the end
of the Fund's fiscal period), the Fund had issued and outstanding approximately
4,352,644 shares of the Global Asset Allocation Portfolio, approximately
3,569,590 shares of Global Equity Portfolio, approximately 7,449,077 shares of
the Capital Appreciation Portfolio, and approximately 6,086,962 shares of the
Aggressive Growth Portfolio.
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My examination also disclosed the following information:
1. On June 30, 1995, (the commencement of the Fund's initial
offering), the Fund did not have any securities registered under the 1933 Act
other than pursuant to Rule 24f-2 of the 1940 Act.
2. During the fiscal period ended October 31, 1995, the Fund did
not register any securities under the 1933 Act other than pursuant to Rule
24f-2.
3. During the fiscal period ended October 31, 1995, the Fund sold
the following shares in reliance upon registration pursuant to Rule 24f-2 of
the 1940 Act:
<TABLE>
<CAPTION>
Name of Portfolio Number of Shares Aggregate Sales Price
<S> <C> <C>
Global Asset
Allocation Portfolio 4,368,493 $ 43,962,184
Global Equity Portfolio 3,592,183 36,268,300
Capital Appreciation
Portfolio 7,585,925 75,981,310
Aggressive Growth
Portfolio 6,160,926 62,854,313
Total 21,707,527 $219,066,107
</TABLE>
4. During the fiscal period ended October 31, 1995, the Fund
redeemed the following shares:
<TABLE>
<CAPTION>
Name of Portfolio Number of Shares Redemption Price
<S> <C> <C>
Global Asset
Allocation Portfolio 15,849 $160,378
Global Equity Portfolio 22,593 229,350
Capital Appreciation
Portfolio 136,848 1,312,408
Aggressive Growth
Portfolio 73,964 758,190
Total 249,254 $2,460,326
</TABLE>
You have instructed me to file, on behalf of the Fund, a Notice pursuant to
Rule 24f-2 of the 1940 Act, for the purpose of registering, under the 1933 Act,
the shares set forth above which were sold by the Fund during the fiscal year.
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Based upon the foregoing information and my examination, it is my opinion that:
1. The Fund is a valid and subsisting corporation of the State of
Maryland, authorized to issue a combined total of 1,000,000,000 shares of its
common stock, with a $1.00 par value, from its four Portfolios.
2. The proposed registration of the combined total of 21,707,527
shares of common stock sold by the Fund during the fiscal period ended October
31, 1995, pursuant to Rule 24f-2 of the 1940 Act is proper, and that such
shares, which were issued for a consideration deemed by the Board of Directors
to be consistent with the Fund's Articles of Incorporation, were lawfully
issued, fully paid, and non-assessable; and
3. The holders of such shares have all the rights provided with
respect to such holdings by the Articles of Incorporation and the laws of the
State of Maryland.
I hereby consent to the use of this opinion as an Exhibit to the Rule 24f-2
Notice filed on behalf of the Fund, covering the registration of such shares
under the 1933 Act, and to the applications and registration statements, and
amendments thereto, filed in accordance with the securities laws of the states
in which shares of the Fund are offered. I further consent to reference in the
Prospectus of the Fund to the fact that this opinion concerning the legality of
the issue has been rendered by me.
Very truly yours,
/s/ RAYMOND J. KLAPINSKY
- -------------------------------------
BY: (Raymond J. Klapinsky)
Counsel
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