During the six-month period covered by this
report, issues were presented to the
shareholders for their vote at a Special
Meeting of Shareholders on June 29, 2017
(originally scheduled for June 5, 2017, but
adjourned on that date to allow for further
solicitation of proxies).

The record date for determination of
shareholders entitled to vote was April 20,
2017. As of the record date there were
outstanding 4,463,967 shares of the Funds
Common Stock, constituting all of the
outstanding voting securities of the Fund.
Each such share was entitled to one vote. At
the Meeting, the holders of 3,671,172
shares, or 82.24%, of the Funds Common
Stock were represented in person or by
proxy, constituting a quorum.

For all Proposals, percentages shown are
based on the number of the outstanding
voting securities of the Fund. The issues
presented and the results of the voting
thereon are as follows:


Proposal One - At the Special Meeting, a
vote by ballot was taken for the approval of
a new investment advisory agreement
between Horizon Asset Management LLC
(Horizon) and the Fund. The Inspector of
Elections conducted the voting and counted
and determined the number of shares of
Common Stock voted with respect to the
proposal and do hereby declare and certify
that the votes cast for the approval of a new
investment advisory agreement between
Horizon and the Fund were as follows:

Votes For
2,771,280 (62.08%)

Votes
Against
186,769 (4.187%)

Votes
Abstaining
146,259 (3.28%)

Broker
Non-Votes
566,864 (12.70%)

Proposal Two  At the Special Meeting, a
vote by ballot was taken for the approval of
a proposal to revoke the Plan of Liquidation
and Dissolution (the Plan of Liquidation)
previously approved by the Funds
shareholders at the Annual Meeting held on
August 4, 2016. The Inspector of Elections
conducted the voting and counted and
determined the number of shares of
Common Stock voted with respect to the
proposal and do hereby declare and certify
that the votes cast for the approval of a
proposal to revoke the Plan of Liquidation
were as follows:

Votes For
2,743,382 (61.46%)

Votes Against
218,547 (4.907%)

Votes Abstaining
142,379
(3.19%)

Broker Non-Votes
566,864 (12.70%)

Proposal Three  At the Special Meeting, a
vote by ballot was taken for the election of
Murray Stahl, Eric Sites, Alice C. Brennan,
and Herbert M. Chain as Directors of the
Fund, each of whom is to hold office for the
remainder of the original three (3)-year term
applicable to the class of Directors to which
he or she is elected and until his or her
successor is elected and qualified. The
Inspector of Elections conducted the voting
and counted and determined the number of
shares of Common Stock voted in the
election of directors and do hereby declare
and certify that votes cast in the election of
directors were as follows:

Nominees

Murray Stahl
Votes For
3,273,409 (73.33%)

Votes Against
207,082 (4.64%)

Abstentions
166,243 (3.72%)

Broker Non-Votes
24,438 (0.55%)

Eric Sites
Votes For
3,273,409 (73.52%)

Votes Against
200,752 (4.50%)

Abstentions
164,057 (3.68%)

Broker Non-Votes
24,438 (0.55%)


Alice C. Brennan
Votes For
3.276,859 (73.41%)

Votes Against
204,947 (4.59%)


Abstentions
164,927 (3.69%)

Broker Non-Votes
24,438(0.55%)


Herbert M. Chain
Votes For
3,271,218 (73.28%)

Votes Against
206,146  (4.62%)


Abstentions
169,370 (3.79%)

Broker Non-Votes
24,438 (0.55%)



Proposal Four  At the Special Meeting, a
vote by ballot was taken for the ratification
of the appointment by the Funds Board of
Directors of BKD, LLP, as the auditor of the
Fund for the fiscal year ended December 31,
2016. The Inspector of Elections conducted
the voting and counted and determined the
number of shares of Common Stock voted
with respect to the proposal and do hereby
declare and certify that the votes cast for the
ratification of the appointment by the Funds
Board of Directors of BKD, LLP, as the
auditor of the Fund for the fiscal year ended
December 31, 2016 were as follows:

Votes For
3,375,494 (75.62%)

Votes Against
157,435 (3.537%)

Votes
Abstaining
138,243 (3.10%)

Broker Non-Votes
0 (0.00%)