Horizon Kinetics’s Madison Square Garden MSGS Stock Holding History

Bought

Maintained

Sold

Quarter	Market Value	Status	Shares	Change in Stake	Trade Value	Portfolio Weight	Portfolio Position
2018 Q4	$18.2M	Sell	95,494 -5,111	-5%	-$994K	0.62%	25
2018 Q3	$22.6M	Buy	100,605 +1,488	+2%	+$330K	0.56%	26
2018 Q2	$21.9M	Buy	99,117 +1,211	+1%	+$224K	0.58%	26
2018 Q1	$17.2M	Sell	97,906 -855	-0.9%	-$138K	0.5%	29
2017 Q4	$14.9M	Sell	98,761 -7,328	-7%	-$1.13M	0.44%	29
2017 Q3	$16.2M	Sell	106,089 -1,782	-2%	-$270K	0.48%	30
2017 Q2	$15.2M	Sell	107,871 -675	-0.6%	-$95.5K	0.51%	32
2017 Q1	$15.5M	Sell	108,546 -1,859	-2%	-$242K	0.5%	36
2016 Q4	$13.5M	Sell	110,405 -1,449	-1%	-$176K	0.44%	34
2016 Q3	$13.5M	Sell	111,854 -4,497	-4%	-$572K	0.38%	44
2016 Q2	$14.3M	Sell	116,351 -10,229	-8%	-$1.2M	0.39%	44
2016 Q1	$15M	Sell	126,580 -19,332	-13%	-$2.15M	0.39%	42
2015 Q4	$16.8M	Sell	145,912 -308,559	-68%	-$37.1M	0.37%	44
2015 Q3	$23.4M	Sell	454,471 -83,232	-15%	-$4.58M	0.48%	40
2015 Q2	$32M	Buy	537,703 +6,690	+1%	+$401K	0.47%	40
2015 Q1	$32.1M	Sell	531,013 -4,052	-0.8%	-$223K	0.45%	42
2014 Q4	$28.7M	Sell	535,065 -39,728	-7%	-$2M	0.4%	45
2014 Q3	$27.1M	Buy	574,793 +75,329	+15%	+$3.4M	0.36%	46
2014 Q2	$22.2M	Sell	499,464 -11,264	-2%	-$443K	0.28%	45
2014 Q1	$20.7M	Buy	510,728 +39,862	+8%	+$1.64M	0.27%	47
2013 Q4	$19.3M	Buy	470,866 +88,667	+23%	+$3.61M	0.25%	54
2013 Q3	$15.8M	Buy	382,199 +12,262	+3%	+$516K	0.22%	57
2013 Q2	$15.6M	Buy	+369,937	New	+$15.5M	0.23%	61