13F-HR 1 horizonthirteenfmarchten.txt HORIZONTHIRTEENFMARCHTEN UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 13F Form 13F COVER PAGE Report for the Quarter ended: March 31, 2010 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 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 on Behalf of Reporting Manager: Name: Andrew M. Fishman Title: General Counsel Phone: 646-495-7347 Signature, Place, and Date of Signing: Andrew M. Fishman New York, New York May 6, 2010 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: 426 Form Information Table Value Total: $4,144,739,000 VALUE SHARES/ SH/ PUT/INVSTMT OTHER VOTING AUTHORITY NAME OF ISSUER TITLE CUSIP (x$1000) PRN AMT PRN CALLDSCRETN MGRS SOLE SHARED NONE ABBOTT LABS COM 002824100 925 17553 SH SOLE 17553 0 0 ABERDEEN ASIA-PACIFIC INCOME ETF/CEF 003009107 80 12220 SH SOLE 12220 0 0 ADELPHIA CONTINGENT VALUE VEHI COM 00685R409 181 5175374 SH DEFINED 4878557 296817 0 ADELPHIA RECOVERY TRUST CVV AC COM 00685R789 0 1268051 SH DEFINED 145963 1122088 0 ADELPHIA RECOVERY TRUST CVV AC COM 00685R813 0 2200000 SH DEFINED 0 2200000 0 ADELPHIA RECOVERY TRUST CVV SE COM 00685R706 0 1504961 SH DEFINED 250825 1254136 0 ADFITECH INC COM COM 00687B105 51 23060 SH SOLE 23060 0 0 ADVANCED MICRO DEVICES 6.000% CONV BOND 007903AL1 2294 2393000 PRN SOLE 2393000 0 0 AFFILIATED MANAGERS GROUP 3.95 CONV BOND 008252AL2 1811 1834000 PRN SOLE 1834000 0 0 ALLEGHANY CORP DEL COM 017175100 1283 4411 SH SOLE 4411 0 0 ALLEGHENY ENERGY INC COM COM 017361106 78842 3427892 SH DEFINED 3321110 81782 25000 ALLIANCE NATL MUN INCOME FD ETF/CEF 01864U106 274 19639 SH SOLE 19639 0 0 ALLIANCE NEW YORK MUN INC FD ETF/CEF 018714105 214 15632 SH SOLE 15632 0 0 ALLIANCE WORLD DLR GVT FD II ETF/CEF 01879R106 930 65326 SH SOLE 65326 0 0 ALLIANZ AKTIENGESELLSCHAFT SP COM 018805101 880 70082 SH DEFINED 61482 8600 0 ALPINE GLOBAL PREMIER PPTYS SB ETF/CEF 02083A103 170 25919 SH SOLE 25919 0 0 ALTRIA GROUP INC COM 02209S103 601 29273 SH SOLE 29273 0 0 AMERICAN CAPITAL LTDCOM COM 02503Y103 120 23539 SH DEFINED 22048 1491 0 AMERICAN INCOME FD INC ETF/CEF 02672T109 100 12088 SH SOLE 12088 0 0 AMERICAN INTERNATIONAL GROUP I COM 026874784 316 9259 SH SOLE 9259 0 0 AMERICAN MUN INCOME PORTFOLI ETF/CEF 027649102 439 30593 SH DEFINED 29293 1300 0 AMERICAN RAILCAR INDS INC COM 02916P103 138 11309 SH DEFINED 5309 6000 0 AMERICAN REAL ESTATE FLOAT 4.0 CONV BOND 029169AA7 13629 15400000 PRN DEFINED 13100000 2300000 0 AMERICAN SELECT PORTFOLIO INC ETF/CEF 029570108 129 10764 SH DEFINED 10364 400 0 AMERICAN STRATEGIC INCM PTFL ETF/CEF 030098107 240 19306 SH SOLE 19306 0 0 AMERN INTL GRP LGTM JAN 25 OPTION PUT 4ZN99T003 41 108 SH PUT SOLE 108 0 0 ANADARKO PETE CORP COM 032511107 318 4366 SH SOLE 4366 0 0 ANALOG DEVICES INC COM 032654105 503 17450 SH SOLE 17450 0 0 ANGLO AMERICAN PLC NOTES CO 4. FOR BONDS XRB3Y6T29 2732 1600000 PRN SOLE 1600000 0 0 ANGLO AMERN PLC ADR NEW COM 03485P201 164933 7566499 SH DEFINED 7432088 134411 0 APPOLO INVT CORP SHS BEN INT COM 03761U106 372 29240 SH DEFINED 28640 600 0 ARTIO GLOBAL INVS INC COM CL A COM 04315B107 1251 50581 SH DEFINED 35181 15400 0 ASSURED GUARANTY LTD COM G0585R106 479 21800 SH SOLE 0 0 21800 BANK AMER CORP COM 060505104 515 28827 SH SOLE 28827 0 0 BANK OF AMERICA CORPORATION 7. 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INCOME TR SH ETF/CEF 09248H105 297 21862 SH SOLE 21862 0 0 BLACKROCK FLOAT RATE OME STR ETF/CEF 09255X100 2276 147014 SH SOLE 147014 0 0 BLACKROCK FLOATING RATE INCOME ETF/CEF 091941104 5733 371786 SH DEFINED 369386 2400 0 BLACKROCK INC COM 09247X101 2407 11053 SH DEFINED 6453 4600 0 BLACKROCK MUNIHOLDINGS N Y I ETF/CEF 09255C106 466 33330 SH SOLE 33330 0 0 BLACKROCK MUNIYIELD MICH INSCO ETF/CEF 09254W103 129 10676 SH SOLE 10676 0 0 BLACKROCK MUNIYIELD QUALITY ETF/CEF 09254F100 164 11882 SH SOLE 11882 0 0 BLACKROCK MUNIYIELD QUALITY ETF/CEF 09254G108 385 31379 SH SOLE 31379 0 0 BLACKROCK NY INS MUN INC TR ETF/CEF 09249U105 848 58689 SH SOLE 58689 0 0 BLACKROCK NY MUNICIPAL BOND ETF/CEF 09249P106 184 12199 SH SOLE 12199 0 0 BLACKROCK REAL ASSET EQUITY ETF/CEF 09254B109 457 35598 SH SOLE 35598 0 0 BLACKROCK SR HIGH INCOME FD ETF/CEF 09255T109 432 107072 SH SOLE 107072 0 0 BLACKSTONE GROUP L PCOM UNIT R LP INT UNIT 09253U108 12765 911775 SH DEFINED 706386 205389 0 BOEING CO COM 097023105 855 11780 SH SOLE 11780 0 0 BOK FINL CORP COM NEW COM 05561Q201 16099 306989 SH DEFINED 289200 17789 0 BOMBARDIER INC 6.25% PFD SER 4 CONV PREF 097751705 731 32673 SH DEFINED 28973 3700 0 BOSTON PROPERTIES LP 2.875% 02 CONV BOND 10112RAK0 3424 3437000 PRN DEFINED 1437000 2000000 0 BOSTON SCIENTIFIC CORP COM 101137107 162 22439 SH SOLE 22439 0 0 BOWLES FLUIDICS CORP NEW COM 102590304 8505 7732 SH SOLE 7732 0 0 BP PLC SPONS ADR COM 055622104 2758 48321 SH SOLE 48321 0 0 BRISTOL MYERS SQUIBBCO COM 110122108 1019 38174 SH SOLE 38174 0 0 BROADRIDGE FINL SOLUTIONS INC COM 11133T103 3126 146220 SH DEFINED 136020 10200 0 BROOKFIELD ASSET MGMT INC VTG COM 112585104 215928 8494407 SH DEFINED 8259494 188827 46086 BUCKEYE GP HOLDINGS LP UNITS L LP INT UNIT 118167105 2140 62310 SH SOLE 62310 0 0 CABLEVISION SYS CORP CL A SHS COM 12686C109 1963 81297 SH SOLE 81297 0 0 CACI INTL CONV 2.125% 05/01/20 CONV BOND 127190AD8 4215 3986000 PRN SOLE 3986000 0 0 CACI INTL INC CL A COM 127190304 5756 117839 SH 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SH SOLE 13651 0 0 CHINA EASTERN AIRLINES CORP SP COM 16937R104 2143 41767 SH SOLE 41767 0 0 CHINA LIFE INS CO LTD SPONS AD COM 16939P106 94472 1311376 SH DEFINED 1275104 26797 9475 CHINA SOUTHN AIRLS LTD SPON AD COM 169409109 1471 65807 SH SOLE 65807 0 0 CHINA UNICOM HONG KONG LTD ADR COM 16945R104 58611 5256557 SH DEFINED 5122928 133629 0 CINCINNATI FINL CORP COM 172062101 310 10723 SH SOLE 10723 0 0 CLAYMORE ETF TRUST 2 CLAY/ALPH ETF/CEF 18383Q861 9012 496701 SH SOLE 496701 0 0 CME GROUP INC COM COM 12572Q105 130987 414370 SH DEFINED 393029 18473 2868 CMS ENERGY CORP COM 125896100 1307 84568 SH SOLE 84568 0 0 CNOOC LTD SPONSORED ADR ISIN COM 126132109 96747 586059 SH DEFINED 572170 13889 0 COEUR D'ALENE 3.250% 03/15/202 CONV BOND 192108AR9 761 800000 PRN DEFINED 0 800000 0 COHEN & STEERS INC COM COM 19247A100 11133 446022 SH DEFINED 370023 62999 13000 COHEN & STEERS QUALITY RLTY CO ETF/CEF 19247L106 2311 324075 SH SOLE 324075 0 0 COMDISCO HLDG CO INC COM 200334100 840 97720 SH 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