13F-HR 1 horizonthirteenfjuneeightr.txt HORIZONTHIRTEENFJUNEEIGHT UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 13F Form 13F COVER PAGE Report for the Quarter ended: June 30, 2008 Not an amendment. Institutional Investment Manager Filing this Report: Name: Horizon Asset Management, Inc. Address: 470 Park Avenue South 4th Floor South New York, N.Y. 10016 13F File Number: 28-6986 The institutional investment manager filing this report; and person by whom it is signed hereby represent that the person signing the report is authorized to submit it, that all information contained herein is true, correct and complete, and that it is understood that all required items, statements, schedules, lists, and tables, are considered integral parts of this form. Person signing this Report for Horizon Asset Management, Inc. Name: Andrew M. Fishman Title: Director of Compliance and General Counsel Phone: 646-495-7347 Signature, Place, and Date of Signing: Andrew M. Fishman New York, New York August 27, 2008 Report Type: 13F HOLDINGS REPORT List of Other Managers Reporting for this Manager: none I AM SIGNING THIS REPORT AS REQUIRED BY THE SECURITIES EXCHANGE ACT OF 1934. Report Summary: Number of Other Included Managers: none Form 13F Information Table Entry Total: 315 Form Information Table Value Total: $12,298,484,717 VALUE SHRS SHR PUT INVEST OTHER VOTING NAME OF ISSUER CLASS CUSIP (x1000PRINAMT PRN CALL DISC MGRS AUTH ABBOTT LABS Com 002824100 3346 63161Shs Sole Sole AFFILIATED MGRS GRP CALL Com 008252908 831 3000000Shs Call Sole Sole AFFILIATED MGRS GRP INC Com 008252108 317 3525Shs Sole Sole ALEXANDERS INC COM Com 014752109 1836 5910Shs Sole Sole ALLEGENY ENERGY INC Com 017361106 682101 13612076Shs Sole Sole ALLEGHANY CORP DEL COM Com 017175100 3918 11799Shs Sole Sole ALLIANCEBERNSTEIN HLDG Com 01881G106 4764 87120Shs Sole Sole ALTRIA GROUP INC Com 02209S103 553 26921Shs Sole Sole AMBASE CORP Com 023164106 5 11900Shs Sole Sole AMERICAN CAP STRATEGIES Com 024937104 11486 483201Shs Sole Sole AMERICAN INTL GROUP Com 026874107 1584 59857Shs Sole Sole AMGEN INC Com 031162100 349 7400Shs Sole Sole ANADARKO PETROLEUM Com 032511107 590 7880Shs Sole Sole ANGLO AMERICAN PLC Com 03485P102 107890 3043444Shs Sole Sole APACHE CORPORATION Com 037411105 304 2190Shs Sole Sole APOLLO INVT CORP Com 03761U106 11248 784914Shs Sole Sole APPLE INC Com 037833100 294 1754Shs Sole Sole APPLIED MATERIALS Com 038222105 814 42627Shs Sole Sole AQUILA INC Com 03840P102 140725 37327640Shs Sole Sole ARBITRON INC Com 03875Q108 207 4365Shs Sole Sole ARCHER-DANIELS-MIDLAND Com 039483102 617 18280Shs Sole Sole AUTOMATIC DATA PROCESSING Com 053015103 220 5255Shs Sole Sole BAM INVESTMENTS CORP Com 05936R108 7119 395292Shs Sole Sole BANK NEW YORK MELLON Com 064058100 422947 11180213Shs Sole Sole BANK OF AMERICA Com 060505104 1556 65184Shs Sole Sole Bk OF NEW YORK MELLON Com 64058100 13266 350687Shs Sole Sole Bk OF NEW YORK MELLON CALL Com 064058900 1784 14082000Shs Call Sole Sole BAXTER INTL INC Com 071813109 498 7786Shs Sole Sole BECTON DICKINSON Com 075887109 273 3353Shs Sole Sole BERKSHIRE HATHAWAY CL B Com 084670207 357084 89004Shs Sole Sole BERKSHIRE HATHAWAY CL A Com 084670108 7728 64Shs Sole Sole BIOGEN IDEC INC Com 09062X103 209 3739Shs Sole Sole BLACKROCK INC Com 09247X101 1440 8155Shs Sole Sole BLACKSTONE GROUP Com 09253U108 50263 2760213Shs Sole Sole BLOCK H & R INC Com 093671105 320 14931Shs Sole Sole BLOCKBUSTER CL A Com 093679108 45 17800Shs Sole Sole BLOCKBUSTER NT 9.0 Deb 093679AC2 123 150000Prn Sole Sole BOEING CO Com 097023105 830 12635Shs Sole Sole BOSTON SCIENTIFIC Com 101137107 299 24365Shs Sole Sole BP PLC SPON ADR Com 055622104 4299 61788Shs Sole Sole BRISTOL MYERS SQUIBB Com 110122108 720 35086Shs Sole Sole BROADRIDGE FNCL SOL Com 11133T103 852 40465Shs Sole Sole BROOKFIELD ASSET MGT Com 112585104 632366 19433393Shs Sole Sole BROOKFIELD INFRASTRUCTURE Com G16252101 916 46741Shs Sole Sole BUCKEYE GP HLDGS Com 118167105 1777 78609Shs Sole Sole BUNGE LTD COM STK Com G16962105 359 3335Shs Sole Sole BURLINGTON NTHRN SANTA FE Com 12189T103 290867 2911877Shs Sole Sole CABLEVISION SYS CL A Com 12686C109 2219 98168Shs Sole Sole CACI INTL INC CL A Com 127190304 28533 623401Shs Sole Sole CADBURY PLC Com 127209302 1709 33957Shs Sole Sole CALPINE CORP Com 131347304 234716 10404060Shs Sole Sole CAMECO CORP Com 13321L108 1716 40011Shs Sole Sole CANADIAN NAT RES LTD CALL Com 136385901 352 6000Shs Call Sole Sole CANADIAN NATURAL RES LTD Com 136385101 25186 251256Shs Sole Sole CARBO CERAMICS INC Com 140781105 385 6600Shs Sole Sole CARNIVAL CORP Com 143658300 3307 100339Shs Sole Sole CATHAY GNRL BANCORP Com 149150104 5821 535487Shs Sole Sole CBS CORP NEW CL B Com 124857202 224 11500Shs Sole Sole CENTER FINANCIAL CORP Com 15146E102 6856 809401Shs Sole Sole CENTERPOINT ENERGY INC Com 15189T107 100828 6282104Shs Sole Sole CHEVRON CORP NEW Com 166764100 2682 27059Shs Sole Sole CHICAGO BRIDGE & IRON Com 167250109 403 10111Shs Sole Sole CHINA LIFE INS CO LTD ADR 16939P106 69281 1327728Shs Sole Sole CHINA MOBILE LTD ADR 16941M109 1860 27785Shs Sole Sole CHINA NETCOM GROUP ADR 16940Q101 1153 21123Shs Sole Sole CHINA SOUTHN AIRLS ADR 169409109 301 156335Shs Sole Sole CINCINNATI FINL CORP Com 172062101 373 14682Shs Sole Sole CISCO SYS INC Com 17275R102 221 9484Shs Sole Sole CITIGROUP INC Com 172967101 659 39348Shs Sole Sole CME GROUP INC Com 12572Q105 224421 585667Shs Sole Sole CME GROUP INC CALL Com 12572Q905 1816 881000Shs Call Sole Sole CME GROUP INC PUT Com 12572Q955 249 440600Shs Put Sole Sole CMS ENERGY CORP Com 125896100 62364 4185513Shs Sole Sole CMS ENERGY CORP CALL Com 125896900 259 55000Shs Call Sole Sole CNOOC LTD ADR 126132109 518550 2988074Shs Sole Sole COHEN & STEERS INC Com 19247A100 9369 360753Shs Sole Sole COLGATE -PALMOLIVE CO Com 194162103 267 3868Shs Sole Sole CONOCOPHILLIPS Com 20825C104 837 8865Shs Sole Sole COUNTRYWIDE FINANCIAL Com 222372104 55 13000Shs Sole Sole COUNTRYWIDE FNCL CORP PUT Com 222372954 480 19500Shs Put Sole Sole COVANTA HOLDING Com 22282E102 480 18000Shs Sole Sole CSX CORP Com 126408103 302 4804Shs Sole Sole CUBIC CORPORATION Com 229669106 761 34168Shs Sole Sole DANAHER CORP Com 235851102 235 3046Shs Sole Sole DEAN FOODS CO Com 242370104 644 32800Shs Sole Sole DEERFIELD CAP CORP Com 244331104 21 26329Shs Sole Sole DELL INC Com 24702R101 1925 88000Shs Sole Sole DELPHI CORP 6.5% 08/15/13 Deb 247126AE5 46 219000Prn Sole Sole DELUXE CORP Com 248019101 780 43750Shs Sole Sole DEUTSCHE TELEKOM A GSPON ADR Com 251566105 548 33501Shs Sole Sole DISCOVER FIN SERVICES Com 254709108 849 64445Shs Sole Sole DISNEY WALT PRODTNS Com 254687106 2591 83057Shs Sole Sole DOW CHEMICAL CO Com 260543103 381 10913Shs Sole Sole DREAMWORKS ANIMATION CL A Com 26153C103 7386 247772Shs Sole Sole DU PONT E I DE NEMOURS & CO Com 263534109 420 9792Shs Sole Sole DYNEGY INC [CL A] Com 26817G102 125221 14645767Shs Sole Sole EAST WEST BANCORP INC Com 27579R104 3757 532144Shs Sole Sole EATON VANCE CORP Com 278265103 4227 106317Shs Sole Sole EBAY INC Com 278642103 568 20782Shs Sole Sole EDISON INTL Com 281020107 5870 114254Shs Sole Sole EL PASO CORP Com 28336L109 612530 28175249Shs Sole Sole EMERSON ELECTRIC CO Com 291011104 735 14872Shs Sole Sole ENCANA CORP Com 292505104 455273 5006839Shs Sole Sole ENCANA CORP CALL Com 292505904 308 5000Shs Call Sole Sole ENTERPRISE PRODUCTS PPTNS LP Com 293792107 868 29394Shs Sole Sole EOG RES INC Com 26875P101 451 3440Shs Sole Sole EQUIFAX INC Com 294429105 304 9054Shs Sole Sole EXXON MOBIL CORP Com 30231G102 28039 318160Shs Sole Sole FAIRFAX FINL HLDGS LTD SUB Com 303901102 1708 6729Shs Sole Sole FEDERAL NATL MTG ASSN Com 313586109 216303 11086792Shs Sole Sole FEDERAL NATL MTG ASSN CALL Com 313586909 613 7560000Shs Call Sole Sole FIDELITY NATIONAL INFTN SVCS Com 31620M106 573 15512Shs Sole Sole FIDELITY NATL TITLE CL A Com 31620R105 811 64356Shs Sole Sole FINANCIAL TECHNOLOGIES Com 999935WV7 277 47000Shs Sole Sole FINOVA GROUP INC Com 317928109 4 154050Shs Sole Sole FIRST BK DEL WILMINGTON Com 319307104 67 35400Shs Sole Sole FIRST INDL RLTY TR INC Com 32054K103 362 13161Shs Sole Sole FOREST CITY ENTERPRISES CL A Com 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Sole Sole GOLDMAN SACHS CALL Com 38141G904 2404 4161000Shs Call Sole Sole GOLDMAN SACHS PUT Com 38141G954 1514 2070000Shs Put Sole Sole GOOGLE INC CL A Com 38259P508 373 709Shs Sole Sole GREENHILL & CO INC Com 395259104 1303 24189Shs Sole Sole HABER INC Com 404450108 37 413600Shs Sole Sole HANMI FINANCIAL Com 410495105 4086 784225Shs Sole Sole HARRIS CORP DEL Com 413875105 1235 24466Shs Sole Sole HARRY WINSTON DIAMOND CORP Com 41587B100 421 14636Shs Sole Sole HARTE -HANKS INC Com 416196103 168 14635Shs Sole Sole HDFC BANK (ADR) ADR 40415F101 783 10920Shs Sole Sole HEINZ H J CO Com 423074103 1477 30877Shs Sole Sole HONEYWELL INTL INC Com 438516106 905 18000Shs Sole Sole HUANENG PWR INTL ADR SER N ADR 443304100 240402 8694450Shs Sole Sole ICAHN ENTERPRISES LP UNIT Com 451100101 104426 1484584Shs Sole Sole ICICI BK LTD ADR ADR 45104G104 77597 2698100Shs Sole Sole IDEARC INC COM Com 451663108 261 111154Shs Sole Sole IMPERIAL OIL LTD COM NEW Com 453038408 440678 8004890Shs Sole Sole INMET MINING CORP COM Com 457983104 3041 45808Shs Sole Sole INTEL CORP Com 458140100 2071 96405Shs Sole Sole INTERCONTINENTALEXCHANGE Com 45865V100 76153 668011Shs Sole Sole INTERNATIONAL ASSETS HLDG Com 459028106 1555 51722Shs Sole Sole INTL BUSINESS MACH Com 459200101 276 2330Shs Sole Sole INTL FLAVORS & FRAGRANCES Com 459506101 354 9060Shs Sole Sole INTL GAME TECHNOLOGY Com 459902102 673 26947Shs Sole Sole INVESCO LTD Com G491BT108 4614 192400Shs Sole Sole IRON MOUNTAIN INC Com 462846106 369 13900Shs Sole Sole JARDEN CORP Com 471109108 2542 139338Shs Sole Sole JARDEN CORP PUT Com 471109958 213 24000Shs Put Sole Sole JEFFERIES GROUP INC Com 472319102 3290 195575Shs Sole Sole JOHNSON & JOHNSON Com 478160104 4867 75652Shs Sole Sole JPMORGAN CHASE & CO Com 46625H100 19431 566345Shs Sole Sole KINDER MORGAN EGY LP Com 494550106 223 4000Shs Sole Sole KINDER MORGAN MGMT LLC Com 49455U100 0 114510Shs Sole Sole KOREA ELECTRIC PWR ADR ADR 500631106 24258 1669498Shs Sole Sole KRAFT FOODS INC CL A Com 50075N104 885 31094Shs Sole Sole LABRANCHE CO Com 505447102 68193 9631756Shs Sole Sole LAS VEGAS SANDS CALL Com 517834907 1206 9325400Shs Call Sole Sole LAS VEGAS SANDS PUT Com 517834957 685 1006600Shs Put Sole Sole LAS VEGAS SANDS Com 517834107 198230 4178544Shs Sole Sole LAZARD LTD SHS -A - Com G54050102 3750 109819Shs Sole Sole LEGG MASON INC Com 524901105 259086 5946435Shs Sole Sole LEGG MASON INC PUT Com 524901955 307 12900Shs Put Sole Sole LEHMAN BROS HLDGS INC CALL Com 524908900 911 9402000Shs Call Sole Sole LEHMAN BROS HLDGS INC PUT Com 524908950 720 1380000Shs Put Sole Sole LEHMAN BROS INC Com 524908100 41922 2116185Shs Sole Sole LEUCADIA NATL CALL Com 527288904 410 16400Shs Call Sole Sole LEUCADIA NATL CORP Com 527288104 826206 17601320Shs Sole Sole LEUCADIA NATL CV 3.75% 2014 Deb 527288AX2 14534 6765000Prn Sole Sole LIBERTY GLOBAL CL A Com 530555101 7486 238195Shs Sole Sole LIBERTY GLOBAL SER C Com 530555309 766 25234Shs Sole Sole LIBERTY MEDIA CORP Com 53071M500 201 8296Shs 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MERRILL LYNCH & CO INC CALL Com 590188908 200 6960000Shs Call Sole Sole MERRILL LYNCH & CO INC COM Com 590188108 791 24908Shs Sole Sole MERRILL LYNCH & CO INC PUT Com 590188958 1206 2301800Shs Put Sole Sole MGM MIRAGE COM STK Com 552953101 10894 321465Shs Sole Sole MIDDLESEX WATER CO Com 596680108 201 12133Shs Sole Sole MIRANT CORP NEW COM STK Com 60467R100 46798 1195339Shs Sole Sole MONSANTO CO NEW Com 61166W101 259 2046Shs Sole Sole MONTPELIER RE HLDGS Com G62185106 2491 168864Shs Sole Sole MOODYS CORP Com 615369105 977 28357Shs Sole Sole MORGAN STANLEY CALL Com 617446908 442 5571000Shs Call Sole Sole MORGAN STANLEY Com 617446448 11499 318789Shs Sole Sole MORGAN STANLEY PUT Com 617446958 532 1381800Shs Put Sole Sole NARA BANCORP INC Com 63080P105 9340 870434Shs Sole Sole NASDAQ OMX GROUP PUT Com 631103958 361 1726000Shs Put Sole Sole NASDAQ STOCK MKT Com 631103108 646786 24361038Shs Sole Sole NEXEN INC Com 65334H102 319 8000Shs Sole Sole NORFOLK SOUTHN CORP Com 655844108 826 13179Shs Sole Sole NORTHERN TRUST CORP Com 665859104 2580 37619Shs Sole Sole NORTHROP GRUMMAN Com 666807102 413 6178Shs Sole Sole NOVARTIS AG ADR ADR 66987V109 870 15800Shs Sole Sole NRG ENERGY INC Com 629377508 106822 2490029Shs Sole Sole NUVEEN PERF PLUS MUN FD Com 67062P108 16180 1244577Shs Sole Sole NUVEEN PREM INC MUN FD 2 Com 67063W102 547 43962Shs Sole Sole NYMEX HOLDINGS INC Com 62948N104 5745 68000Shs Sole Sole NYSE EURONEXT CALL Com 629491901 3048 23000000Shs Call Sole Sole NYSE EURONEXT INC Com 629491101 615731 12154176Shs Sole Sole NYSE EURONEXT PUT Com 629491951 1760 7005000Shs Put Sole Sole ORACLE CORPORATION Com 68389X105 1054 50200Shs Sole Sole PALL CORP Com 696429307 2530 63769Shs Sole Sole PENN VA GP HLDGS LP Com 70788P105 3277 99994Shs Sole Sole PENN WEST ENERGY TR Com 707885109 52768 1559737Shs Sole Sole PEPSICO INC Com 713448108 1750 27524Shs Sole Sole PETROCHINA CO LTD ADR ADR 71646E100 10157 78823Shs Sole Sole PETROLEO BRASIL ADR 71654V408 340 4800Shs Sole Sole PFIZER INC Com 717081103 3279 187690Shs Sole Sole PG&E CORP Com 69331C108 1458 36728Shs Sole Sole PHILIP MORRIS INTL Com 718172109 33504 678348Shs Sole Sole PICO HOLDINGS INC Com 693366205 3012 69316Shs Sole Sole PREFERRED BK LA CA Com 740367107 823 158856Shs Sole Sole PROCTER & GAMBLE Com 742718109 661 10870Shs Sole Sole PROGRESSIVE CORP Com 743315103 221791 11847806Shs Sole Sole PZENA INVTS MGT CL A Com 74731Q103 413 32400Shs Sole Sole QUANTA SERVICES Com 74762E102 140213 4214386Shs Sole Sole QUEST DIAGNOSTICS Com 74834L100 829 17100Shs Sole Sole R.H. DONNELLEY CORP Com 74955W307 6808 2269451Shs Sole Sole RAYTHEON CO NEW Com 755111507 594 10550Shs Sole Sole RCN CORP COM NEW Com 749361200 150 13878Shs Sole Sole RED REEF LABS INTL ICOM Com 75686N201 0 105000Shs Sole Sole RELIANT ENERGY CALL Com 75952B905 276 24000Shs Call Sole Sole RELIANT RESOURCES Com 75952B105 666083 31315629Shs Sole Sole REYNOLDS AMERN INC Com 761713106 443 9500Shs Sole Sole RITCHIE BROS AUCTIONEERS Com 767744105 3841 141567Shs Sole Sole ROCKWELL AUTOMATION INC Com 773903109 929 21250Shs Sole Sole ROYAL CARRIBBEAN CRUISES LTD Com V7780T103 1057 47063Shs Sole Sole ROYAL DUTCH SHELL PLC ADR Com 780259206 3269 40008Shs Sole Sole SAN JUAN BASIN RTY TR UBI Com 798241105 287 6200Shs Sole Sole SCHLUMBERGER LTD Com 806857108 2279 21212Shs Sole Sole SCHWAB CHARLES CORP Com 808513105 390 19000Shs Sole Sole SCRIPPS E W CO CL A Com 811054204 7971 191879Shs Sole Sole SEARS HOLDINGS CORP Com 812350106 57680 783051Shs Sole Sole SEMPRA ENERGY Com 816851109 203 3598Shs Sole Sole SIERRA PACIFIC RESOURCES Com 826428104 451512 35524192Shs Sole Sole SIGMA ALDRICH CORP Com 826552101 1064 19752Shs Sole Sole SOTHEBYS HLDGS INC Com 835898107 18352 695926Shs Sole Sole SOUTHERN UNION CO Com 844030106 1559 57688Shs Sole Sole STAR STRUCK LTD Com 855188108 19 90000Shs Sole Sole STATE STREET CORP Com 857477103 32126 502041Shs Sole Sole STRYKER CORP Com 863667101 409 6500Shs Sole Sole STUDENT LOAN CORP Com 863902102 68772 701178Shs Sole Sole SUNCOR ENERGY CAD COM Com 997996TF0 838 14400Shs Sole Sole SUNCOR ENERGY INC CALL Com 867229906 302 9200Shs Call Sole Sole SUNCOR ENERGY INC Com 867229106 119925 2062723Shs Sole Sole SWEDISH EXPT CR CORPELEMENTS Com 870297603 162 13300Shs Sole Sole TELEFLEX INC Com 879369106 538 9682Shs Sole Sole TELEFONICA S A ADR Com 879382208 652 8189Shs Sole Sole TELEPHONE & DATA SYSTEMS Com 879433100 1715 36315Shs Sole Sole TELEPHONE & DATA SYS SPCL Com 879433860 507 11501Shs Sole Sole TEMPLETON EMERGING MKTS FD Com 880191101 152 11200Shs Sole Sole TEXAS PAC LD TR SUB SH CTF Com 882610108 30331 569706Shs Sole Sole THE SAINT JOE CO Com 790148100 9273 270186Shs Sole Sole THOMAS WIESEL PARTNERS Com 884481102 127 23268Shs Sole Sole TRAVELERS COS INC Com 8.94E+113 245 5634Shs Sole Sole U S GLOBAL INVESTORS CL A Com S2703385 665 39675Shs Sole Sole UCBH HOLDINGS INC Com 90262T308 1985 882430Shs Sole Sole UNION PACIFIC CORP Com 907818108 169318 2242620Shs Sole Sole UST INC Com 902911106 1861 34084Shs Sole Sole VEECO INSTRUMENTS INC Com 922417100 265 16500Shs Sole Sole VERIZON COMMUNICATIONS Com 92343V104 204 5756Shs Sole Sole VERTICAL BRANDING INC Com 92534X109 7 19750Shs Sole Sole VIACOM INC NEW CL B Com 92553P201 351 11500Shs Sole Sole VIRGIN MEDIA INC Com 92769L101 406 29806Shs Sole Sole VISA INC COM CL A Com 92826C839 438 5257Shs Sole Sole VISHAY INTERTECH INC Com 928298108 151 17029Shs Sole Sole VORNADO RLTY TR Com 929042109 25749 292604Shs Sole Sole WACHOVIA CORP Com 929903102 404 26011Shs Sole Sole WALGREEN COMPANY Com 931422109 504 15500Shs Sole Sole WARNER MUSIC GRP 9 1/2 2014 Deb 92930MAF0 2732 4337000Prn Sole Sole WARNER MUSIC GROUP Com 934550104 8640 1210148Shs Sole Sole WASHINGTON POST CL B Com 939640108 57156 97386Shs Sole Sole WD-40 CO Com 929236107 527 18000Shs Sole Sole WELLS FARGO & CO Com 949746101 9955 419152Shs Sole Sole WESCO FINL CORP Com 950817106 2686 7031Shs Sole Sole WESTERN UNION CO Com 959802109 4361 176403Shs Sole Sole WHITE MOUNTAINS INS GRP Com G9618E107 21944 51152Shs Sole Sole WILEY JOHN & SONS CL A Com 968223206 3512 77993Shs Sole Sole WILLIAMS CO INC Com 969457100 78402 1944983Shs Sole Sole WILSHIRE BANCORP Com 97186T108 7151 834254Shs Sole Sole WYETH Com 983024100 772 16100Shs Sole Sole WYNN RESORTS Com 983134107 31206 383599Shs Sole Sole WYNN RESORTS LTD CALL Com 983134907 297 9400Shs Call Sole Sole XO HLDGS INC Com 98417K106 43 104500Shs Sole Sole