Horizon Global Advisers

Horizon Global Advisers as of Dec. 31, 2011

Portfolio Holdings for Horizon Global Advisers

Horizon Global Advisers holds 89 positions in its portfolio as reported in the December 2011 quarterly 13F filing

Company (Ticker) Portfolio Weight Valued At Change in Shares Share Count Share Price
Liberty Media Corp lcpad 10.0 $17M 211k 78.05
AutoNation (AN) 6.0 $9.9M 268k 36.87
Las Vegas Sands (LVS) 5.8 $9.6M 225k 42.73
Leucadia National 5.0 $8.2M 359k 22.74
Jarden Corporation 4.9 $8.0M 268k 29.88
Franco-Nevada Corporation (FNV) 4.7 $7.7M 201k 38.07
Brookfield Asset Management 4.3 $7.1M 257k 27.48
Virtus Investment Partners (VRTS) 4.1 $6.8M 90k 76.01
Howard Hughes 4.0 $6.6M 149k 44.16
General Growth Properties 3.4 $5.6M 373k 15.02
Sears Holdings Corporation 2.9 $4.8M 152k 31.78
MasterCard Incorporated (MA) 2.7 $4.4M 12k 372.82
Icahn Enterprises (IEP) 2.4 $4.0M 112k 35.79
DreamWorks Animation SKG 2.2 $3.6M 220k 16.59
Limited Brands 2.0 $3.3M 82k 40.35
Greenlight Capital Re Ltd cl a (GLRE) 2.0 $3.3M 139k 23.67
Wynn Resorts (WYNN) 1.8 $2.9M 27k 110.46
Forest City Enterprises 1.7 $2.8M 236k 11.82
Grupo Televisa (TV) 1.5 $2.5M 120k 21.05
Vornado Realty Trust (VNO) 1.3 $2.2M 29k 76.84
Continental Resources 1.3 $2.1M 31k 66.69
DISH Network 1.2 $2.0M 69k 28.48
Cme (CME) 1.2 $1.9M 7.9k 243.57
Imperial Oil (IMO) 1.1 $1.9M 42k 44.48
Berkshire Hathaway (BRK.A) 1.1 $1.8M 16.00 114750.00
Air Lease Corp (AL) 1.1 $1.8M 76k 23.71
Google 1.0 $1.6M 2.5k 645.86
Cnooc 0.9 $1.6M 8.9k 174.57
AutoZone (AZO) 0.9 $1.5M 4.7k 324.94
Ascent Media Corporation 0.9 $1.4M 29k 50.69
SPDR S&P China (GXC) 0.8 $1.3M 21k 62.26
Eaton Vance Senior Floating Rate Fund (EFR) 0.6 $1.0M 70k 14.38
ING Prime Rate Trust 0.6 $961k 189k 5.10
PCM Fund (PCM) 0.5 $856k 80k 10.76
Eaton Vance Floating-Rate Income Trust (EFT) 0.5 $847k 60k 14.22
Pimco Income Strategy Fund II (PFN) 0.5 $836k 91k 9.14
Invesco Van Kampen Senior Income Trust (VVR) 0.5 $824k 193k 4.28
Eaton Vance Limited Duration Income Fund (EVV) 0.5 $803k 53k 15.22
PIMCO Income Opportunity Fund 0.5 $806k 32k 25.15
U.S. Gold Corporation 0.5 $769k 229k 3.36
First Trust/Four Corners SFRI Fund II (FCT) 0.5 $745k 57k 13.17
Invesco Van Kampen Dyn Cr Opp Fund 0.4 $725k 69k 10.56
Nuveen Floating Rate Income Fund (JFR) 0.4 $700k 65k 10.85
BlackRock Floating Rate Income Strat. Fn (FRA) 0.4 $673k 50k 13.36
Berkshire Hathaway (BRK.B) 0.4 $649k 8.5k 76.26
BOK Financial Corporation (BOKF) 0.4 $627k 11k 54.85
Blackrock Fl Rate Ome Stra I 0.4 $607k 49k 12.33
Eaton Vance Senior Income Trust (EVF) 0.4 $604k 93k 6.53
Valhi 0.4 $594k 9.8k 60.45
Pimco Income Strategy Fund (PFL) 0.3 $562k 54k 10.39
Nuveen Mult Curr St Gv Incm 0.3 $556k 46k 12.09
First Trust ISE Revere Natural Gas 0.3 $555k 31k 18.17
Nuveen Senior Income Fund 0.3 $558k 84k 6.61
Pioneer Floating Rate Trust (PHD) 0.3 $540k 43k 12.46
WisdomTree India Earnings Fund (EPI) 0.3 $531k 34k 15.57
iShares FTSE/Xinhua China 25 Index (FXI) 0.3 $503k 14k 34.86
Nuveen Fltng Rte Incm Opp 0.3 $454k 41k 11.03
CBOE Holdings (CBOE) 0.3 $447k 17k 25.82
Market Vectors Gaming 0.2 $403k 13k 30.01
& PROD CO shares Brookfield 0.2 $377k 48k 7.81
NYSE Euronext 0.2 $357k 14k 26.06
BlackRock Floating Rate Income Trust (BGT) 0.2 $334k 25k 13.46
Nuveen Div. Advantage Muni. Fund (NAD) 0.2 $312k 21k 14.56
Nuveen Div Adv Muni Fd 3 Ben Int (NZF) 0.2 $308k 21k 14.70
WisdomTree Investments (WT) 0.2 $305k 51k 6.04
Claymore/AlphaShares China Real Est ETF 0.2 $272k 19k 14.62
Dreyfus Strategic Muni. 0.2 $279k 31k 8.89
Pioneer Municipal High Income Trust (MHI) 0.2 $286k 19k 14.86
Nuveen California Select Qlty Mun Inc Fu 0.2 $282k 19k 15.04
AllianceBernstein Global Hgh Incm (AWF) 0.2 $264k 19k 14.12
Pioneer Municipal High Income Advantage (MAV) 0.2 $260k 18k 14.38
Putnam Managed Municipal Income Trust (PMM) 0.2 $270k 36k 7.46
Eaton Vance Cali Muni Bnd Fnd (EVM) 0.2 $261k 20k 12.81
BlackRock Senior High Income Fund 0.1 $244k 64k 3.83
MFS Municipal Income Trust (MFM) 0.1 $248k 35k 7.09
MFS High Income Municipal Trust (CXE) 0.1 $242k 45k 5.33
Market Vectors High Yield Muni. Ind 0.1 $235k 7.9k 29.71
LMP Corporate Loan Fund 0.1 $226k 20k 11.08
Invesco Municipal Income Opp Trust (OIA) 0.1 $223k 34k 6.65
Nuveen Performance Plus Municipal Fund 0.1 $223k 15k 15.27
Invesco Municipal Inc Opp Trust III 0.1 $212k 26k 8.03
Invesco Municipal Inc Opp Trust II (OIB) 0.1 $220k 30k 7.40
Nuveen Insured CA Premium Inc Fd II 0.1 $206k 13k 15.52
Templeton Emerging Markets Income Fund (TEI) 0.1 $199k 13k 15.55
MFS High Yield Municipal Trust (CMU) 0.1 $197k 42k 4.69
Nuveen Premium Income Muni Fd 4 0.1 $173k 13k 13.37
IDT Corporation (IDT) 0.1 $94k 10k 9.36
Credit Suisse Nassau Brh invrs vix sterm 0.1 $76k 12k 6.47
Genie Energy Ltd-b cl b (GNE) 0.1 $79k 10k 7.87