[GoGetMyShotgun]

In the first season I remember Horo telling Lawrence that if her patience slipped with Nora she would not guarantee her life, mostly because she was a shepherd. That, and she took out that army entire army without batting an eye. So there is that "wolf" part of her that isn't above killing others.

But I highly doubt she would kill or betray Lawrence. At the very least, it's obvious she deeply cares about him and before Lawrence came along she's been stuck in Pasroe village with no company at all. I really don't think she'd try anything that would end up pushing away the only companion she's had in a hundred-something years.