Thomas J Herzfeld Advisors Inc's Q4 2024 13F: 10 new positions, 18 exits
Form 13F-HR for the quarter ended Dec 31, 2024 · filed Feb 12, 2025 · 147 reported positions · accession 0001398344-25-002553
What changed this quarter
| Activity | Security | Weight before | Weight now | Change | Shares | Shares % |
|---|---|---|---|---|---|---|
| Exited | High Income Secs Fd Shs (PCF) | 3.6% | — | −3.6 pts | −1.57M sh | −100% |
| New | Prospect Capital Corporation (PSEC) | — | 2.5% | +2.5 pts | +1.83M sh | new |
| Increased | Saba Capital Income & Opport (SABA) | 1.6% | 4.2% | +2.6 pts | +867K sh | +152% |
| Reduced | FS Credit Opportunities Corp (FSCO) | 9.1% | 7.1% | −2.0 pts | −1.06M sh | −25% |
| New | XAI Octagn Flt Rat & Alt Inm (XFLT) | — | 2.2% | +2.2 pts | +1.04M sh | new |
| Reduced | Cornerstone Strategic Value Fund Inc (CLM) | 1.9% | 0.5% | −1.5 pts | −584K sh | −77% |
| Exited | Nuveen Pfd & Income Opportun (JPC) | 1.5% | — | −1.5 pts | −564K sh | −100% |
| Increased | Brookfield Real Assets Incom (RA) | 1.4% | 2.5% | +1.1 pts | +286K sh | +92% |
| New | Simplify Exchange Traded Fun (PFIX) | — | 0.9% | +0.9 pts | +53,202 sh | new |
| New | PGIM Short Dur Hig yld Opp F (SDHY) | — | 0.9% | +0.9 pts | +165K sh | new |
| New | Nuveen Real Estate Income Fund (JRS) | — | 0.8% | +0.8 pts | +292K sh | new |
| Exited | Tortoise Energy Independence (NDP) | 0.8% | — | −0.8 pts | −63,784 sh | −100% |
| Increased | Flaherty & Crumrine Pfd Secs (FFC) | 1.3% | 1.8% | +0.6 pts | +139K sh | +61% |
| Increased | Ecofin Sustainable and Social Impact Term Fund (TEAF) | 0.5% | 1.0% | +0.5 pts | +152K sh | +135% |
| Reduced | Sound Point Meridian Cap Inc. (SPMC) | 2.8% | 2.2% | −0.5 pts | −87,155 sh | −21% |
| Increased | Suro Capital Corp (SSSS) | 1.5% | 2.6% | +1.1 pts | +269K sh | +25% |
| Reduced | Royal Caribbean Group (RCL) | 1.4% | 1.3% | −0.1 pts | −6,682 sh | −27% |
| Reduced | Highland Floating Rate Opportunities Fund (HFRO) | 6.2% | 4.6% | −1.6 pts | −259K sh | −9% |
| Increased | Tortoise Energy Infra Corp (TYG) | 1.3% | 1.7% | +0.4 pts | +28,526 sh | +29% |
| Increased | Clearbridge Energy Midstrm O (EMO) | 1.1% | 1.6% | +0.4 pts | +24,616 sh | +30% |
| Reduced | PIMCO Dynamic Income Strategy Fund (PDX) | 12.0% | 12.5% | +0.5 pts | −40,048 sh | −3% |
| Exited | Janus Detroit Str Tr (JAAA) | 0.3% | — | −0.3 pts | −18,773 sh | −100% |
| Increased | Kayne Anderson Energy Infrst (KYN) | 0.9% | 1.3% | +0.4 pts | +75,683 sh | +31% |
| Reduced | Franklin Limited Duration Income Trust (FTF) | 0.9% | 0.6% | −0.3 pts | −142K sh | −34% |
| Exited | Empire State Realty Trust Inc (ESRT) | 0.3% | — | −0.3 pts | −73,894 sh | −100% |
| New | NYLI MacKay Defined Term Muni (MMD) | — | 0.3% | +0.3 pts | +56,328 sh | new |
| Increased | PIMCO Access Income Fund (PAXS) | 1.7% | 1.8% | +0.1 pts | +52,755 sh | +17% |
| Reduced | Norwegian Cruise Line Holdings Ltd (NCLH) | 1.7% | 1.8% | +0.1 pts | −30,000 sh | −12% |
| Reduced | Nuveen Quality Municipal Income Fund (NAD) | 0.7% | 0.4% | −0.3 pts | −62,886 sh | −35% |
| Increased | Eagle Pt Cr Co LLC (ECC) | 0.4% | 0.6% | +0.2 pts | +82,061 sh | +66% |
| Reduced | Fomento Economico Mexicano SAB de CV (FMX) | 0.5% | 0.2% | −0.3 pts | −7,040 sh | −51% |
| Increased | BlackRock Muni Intermediate Duration Fund Inc (MUI) | 0.2% | 0.3% | +0.1 pts | +41,802 sh | +94% |
| Increased | Carnival Corp (CCL) | 0.5% | 0.8% | +0.3 pts | +19,957 sh | +24% |
| New | Nuveen Amt- Free Mun Value Fd (NUW) | — | 0.1% | +0.1 pts | +33,256 sh | new |
| Increased | MFS High Yield Municipal Trust (CMU) | 0.2% | 0.3% | +0.1 pts | +123K sh | +76% |
| Reduced | OFG Bancorp (OFG) | 0.8% | 0.6% | −0.2 pts | −10,000 sh | −19% |
| Increased | Cohen & Steers Limited Duration Preferred and Income Fund, Inc. (LDP) | 1.2% | 1.2% | 0.0 pts | +19,743 sh | +12% |
| Exited | Invesco California Value Municipal Income Trust (VCV) | 0.1% | — | −0.1 pts | −31,824 sh | −100% |
| Increased | PIMCO Income Strategy FdII (PFN) | 1.0% | 1.1% | 0.0 pts | +45,773 sh | +11% |
| Exited | Federated Hermes Prem Muni I (FMN) | 0.1% | — | −0.1 pts | −22,813 sh | −100% |
| Exited | Pioneer Municipal High Income Trust (MHI) | 0.1% | — | −0.1 pts | −27,892 sh | −100% |
| New | ASA Gold and Precious Metals Ltd (ASA) | — | 0.1% | +0.1 pts | +12,602 sh | new |
| New | Delaware Invts Natl Mun Inco (VFL) | — | 0.1% | +0.1 pts | +25,115 sh | new |
| Reduced | Nuveen Municipal Credit Inc. (NZF) | 0.3% | 0.2% | −0.1 pts | −19,280 sh | −31% |
| Increased | PIMCO Calif Mun Income Fd II (PCK) | 0.2% | 0.2% | 0.0 pts | +37,625 sh | +40% |
| Reduced | Investco CurrencyShares Japan (FXY) | 0.1% | 0.0% | −0.1 pts | −3,598 sh | −86% |
| Increased | MFS Investment Grade Municipal Trust (CXH) | 0.2% | 0.2% | +0.1 pts | +25,965 sh | +37% |
| Exited | Sprott Physical Gold and Silver Trust (CEF) | 0.1% | — | −0.1 pts | −8,000 sh | −100% |
| Exited | Western Asset/Claymore Inflation-Linked Securities & Income Fund (WIA) | 0.1% | — | −0.1 pts | −20,900 sh | −100% |
| Increased | Nuveen Floating Rate Income (JFR) | 1.9% | 1.9% | 0.0 pts | +20,566 sh | +3% |
The 50 largest of 130 changes, by size of the trade. Full holdings for this quarter.
Reported by the fund in its Form 13F filed with the SEC; holdings are as of the quarter-end report date and may have changed since. For informational purposes only — not investment advice or a recommendation to buy or sell any security. FilingExplorer is not affiliated with or endorsed by this fund. How this brief is compiled
† Security identifier (CUSIP) changed — read as one continuing position, not an exit and a new position:
- Tortoise Pwr & Energy Infras (TPZ): 89147X104 → 890930100, 168K → 2,370 shares (share count changed with the identifier; not shown as a trade)
Top 10 positions — 44.1% of the equity book
Changes in the top 10 this quarter: SABA entered · SSSS entered · RA entered · PSEC entered · XFLT entered · PCF left · CLM left · DMA left · CUBA left · JFR left
| # | Security | Weight before | Weight now | |
|---|---|---|---|---|
| 1 | PIMCO Dynamic Income Strategy Fund (PDX) | 12.0% | 12.5% | |
| 2 | FS Credit Opportunities Corp (FSCO) | 9.1% | 7.1% | |
| 3 | Highland Floating Rate Opportunities Fund (HFRO) | 6.2% | 4.6% | |
| 4 | Saba Capital Income & Opport (SABA) | 1.6% | 4.2% | Entered the top 10 |
| 5 | Nuveen Vriabl Rat Pfd & Inm (NPFD) | 4.0% | 3.7% | |
| 6 | Suro Capital Corp (SSSS) | 1.5% | 2.6% | Entered the top 10 |
| 7 | Brookfield Real Assets Incom (RA) | 1.4% | 2.5% | Entered the top 10 |
| 8 | Prospect Capital Corporation (PSEC) | 0.0% | 2.5% | Entered the top 10 |
| 9 | Sound Point Meridian Cap Inc. (SPMC) | 2.8% | 2.2% | |
| 10 | XAI Octagn Flt Rat & Alt Inm (XFLT) | 0.0% | 2.2% | Entered the top 10 |
| — | High Income Secs Fd Shs (PCF) | 3.6% | 0.0% | Left the top 10 |
| — | Cornerstone Strategic Value Fund Inc (CLM) | 1.9% | 0.5% | Left the top 10 |
| — | Destra Multi-Alternative Fd (DMA) | 1.9% | 1.9% | Left the top 10 |
| — | The Herzfeld Caribbean Basin Fund Inc (CUBA) | 1.9% | 1.9% | Left the top 10 |
| — | Nuveen Floating Rate Income (JFR) | 1.9% | 1.9% | Left the top 10 |
Weights are each position's reported value as a share of the fund's reported equity positions (options and principal-amount holdings excluded).