Horizon Kinetics’s Franklin Managed Municipal Income Trust PMM Stock Holding History

Horizon Kinetics’s Portfolio PMM Stock Details PMM Fund Activity

Bought

Maintained

Sold

Quarter	Market Value	Status	Shares	Change in Stake	Trade Value	Portfolio Weight	Portfolio Position
2014 Q4	–	Sell	-16,910	Closed	-$120K	–	533
2014 Q3	$120K	Sell	16,910 -200	-1%	-$1.41K	﹤0.01%	503
2014 Q2	$123K	Sell	17,110 -17,070	-50%	-$122K	﹤0.01%	515
2014 Q1	$238K	Sell	34,180 -2,813	-8%	-$19.6K	﹤0.01%	487
2013 Q4	$246K	Sell	36,993 -15,000	-29%	-$99.8K	﹤0.01%	487
2013 Q3	$356K	Sell	51,993 -75	-0.1%	-$508	﹤0.01%	361
2013 Q2	$372K	Buy	+52,068	New	+$400K	0.01%	350

Other funds holding PMM

Morgan Stanley New York $1.66T AUM 25.57% 1-Year Est. Return

PPA

Parametric Portfolio Associates Seattle, Washington $190B AUM 18.52% 1-Year Est. Return

AAM

Advisors Asset Management Monument, Colorado $6.01B AUM 24.74% 1-Year Est. Return

MIM

Macroview Investment Management Bethesda, Maryland $144M AUM 19.29% 1-Year Est. Return

Wells Fargo San Francisco, California $530B AUM 22.01% 1-Year Est. Return

NCM

Newgate Capital Management Greenwich, Connecticut $121M AUM 3.73% 1-Year Est. Return

AQR Capital Management Greenwich, Connecticut $218B AUM 29.41% 1-Year Est. Return

Royal Bank of Canada Toronto, Ontario, Canada $570B AUM 27.57% 1-Year Est. Return

CIA

Capital Investment Advisors Atlanta, Georgia $6.84B AUM 17.28% 1-Year Est. Return

MIG

Mariner Investment Group Harrison, New York $346M AUM 25.25% 1-Year Est. Return

Horizon Kinetics's PMM Position: Q4 2014 in Review

Horizon Kinetics sold out of Franklin Managed Municipal Income Trust (PMM) in Q4 2014, closing a stake of 16,910 shares — an estimated $120K sold.

Horizon Kinetics first reported a position in PMM in Q2 2013 and held it in 6 quarters. The position peaked at $372K in Q2 2013. 69 funds tracked by Wall St. Rank hold PMM as of Q4 2014.

Horizon Kinetics reported no remaining Franklin Managed Municipal Income Trust position as of Q4 2014 after selling out during the quarter.
Horizon Kinetics sold 16,910 Franklin Managed Municipal Income Trust shares in Q4 2014, an estimated $120K.
Horizon Kinetics first reported a position in Franklin Managed Municipal Income Trust in Q2 2013 and held it in 6 quarters.
Horizon Kinetics's Franklin Managed Municipal Income Trust position peaked at $372K in Q2 2013.
69 funds tracked by Wall St. Rank held Franklin Managed Municipal Income Trust as of Q4 2014.

Based on Horizon Kinetics's 13F filing for Q4 2014, filed 17 Feb 2015.