Thomas J Herzfeld Advisors Inc's Q1 2025 13F: 8 new positions, 27 exits
Form 13F-HR for the quarter ended Mar 31, 2025 · filed May 14, 2025 · 128 reported positions · accession 0001398344-25-009442
What changed this quarter
| Activity | Security | Weight before | Weight now | Change | Shares | Shares % |
|---|---|---|---|---|---|---|
| Increased | The Herzfeld Caribbean Basin Fund Inc (CUBA) | 1.9% | 5.5% | +3.6 pts | +3.55M sh | +142% |
| Reduced | Nuveen Vriabl Rat Pfd & Inm (NPFD) | 3.7% | 2.6% | −1.1 pts | −230K sh | −36% |
| Increased | Nuveen Floating Rate Income (JFR) | 1.9% | 3.4% | +1.5 pts | +504K sh | +75% |
| Increased | PIMCO Dynamic Income Strategy Fund (PDX) | 12.5% | 13.7% | +1.2 pts | +148K sh | +10% |
| Reduced | BlackRock Cap Allocation Tr (BCAT) | 1.0% | 0.0% | −1.0 pts | −212K sh | −100% |
| Increased | Exchange Listed FDS Tr (CEFS) | 0.1% | 1.0% | +0.9 pts | +120K sh | +727% |
| Exited | Eaton Vance Tax-Managed Glob (EXG) | 0.9% | — | −0.9 pts | −327K sh | −100% |
| Exited | Playa Hotels & Resorts Nv (PLYA) | 0.8% | — | −0.8 pts | −202K sh | −100% |
| Increased | Saba Capital Income & Opport (SABA) | 4.2% | 5.0% | +0.9 pts | +265K sh | +18% |
| Reduced | Norwegian Cruise Line Holdings Ltd (NCLH) | 1.8% | 0.6% | −1.2 pts | −119K sh | −56% |
| Reduced | Sound Point Meridian Cap Inc. (SPMC) | 2.2% | 1.5% | −0.7 pts | −109K sh | −33% |
| Increased | Prospect Capital Corporation (PSEC) | 2.5% | 3.2% | +0.7 pts | +487K sh | +27% |
| Exited | New Fortress Energy Inc (NFE) | 0.6% | — | −0.6 pts | −134K sh | −100% |
| Exited | Blackstone Strategic Cred 20 (BGB) | 0.6% | — | −0.6 pts | −165K sh | −100% |
| Increased | Suro Capital Corp (SSSS) | 2.6% | 2.9% | +0.3 pts | +357K sh | +26% |
| Exited | Franklin Limited Duration Income Trust (FTF) | 0.6% | — | −0.6 pts | −270K sh | −100% |
| Reduced | Eagle Pt Cr Co LLC (ECC) | 0.6% | 0.0% | −0.6 pts | −205K sh | −99% |
| Reduced | Royal Caribbean Group (RCL) | 1.3% | 0.7% | −0.6 pts | −8,000 sh | −45% |
| Increased | NextEra Energy Inc (NEE) | 0.6% | 1.1% | +0.5 pts | +20,000 sh | +75% |
| Increased | XAI Octagn Flt Rat & Alt Inm (XFLT) | 2.2% | 2.5% | +0.3 pts | +222K sh | +21% |
| Exited | Wells Fargo Advantage Multi-Sector Income Fund (ERC) | 0.4% | — | −0.4 pts | −145K sh | −100% |
| New | PIMCO Dynamic Income Oprnts (PDO) | — | 0.4% | +0.4 pts | +89,425 sh | new |
| Exited | Pioneer Diversified High Income Trust (HNW) | 0.4% | — | −0.4 pts | −109K sh | −100% |
| Exited | Lennar Corp (LEN) | 0.4% | — | −0.4 pts | −9,450 sh | −100% |
| Reduced | OneSpaWorld Holdings Limited (OSW) | 0.6% | 0.2% | −0.4 pts | −65,000 sh | −65% |
| New | ProShares UltraShort S&P50 (SDS) | — | 0.4% | +0.4 pts | +48,007 sh | new |
| New | Proshares Tr (SCC) | — | 0.3% | +0.3 pts | +86,805 sh | new |
| Exited | Vesta Real Estate Corp (VTMX) | 0.3% | — | −0.3 pts | −42,412 sh | −100% |
| New | ETF Opportunities Trust (SKRE) | — | 0.3% | +0.3 pts | +70,133 sh | new |
| New | Proshares Tr (PSQ) | — | 0.3% | +0.3 pts | +24,606 sh | new |
| Exited | BlackRock Muni Intermediate Duration Fund Inc (MUI) | 0.3% | — | −0.3 pts | −86,319 sh | −100% |
| Reduced | Carnival Corp (CCL) | 0.8% | 0.3% | −0.5 pts | −50,000 sh | −49% |
| Increased | Brookfield Real Assets Incom (RA) | 2.5% | 3.0% | +0.4 pts | +71,684 sh | +12% |
| Reduced | Tortoise Energy Infra Corp (TYG) | 1.7% | 1.5% | −0.2 pts | −21,813 sh | −17% |
| Reduced | Martin Marietta Materials Inc (MLM) | 0.6% | 0.3% | −0.3 pts | −1,800 sh | −49% |
| Exited | Cemex SAB de CV (CX) | 0.3% | — | −0.3 pts | −156K sh | −100% |
| Reduced | Clearbridge Energy Midstrm O (EMO) | 1.6% | 1.5% | −0.1 pts | −15,877 sh | −15% |
| New | Advisorshares Tr (HDGE) | — | 0.3% | +0.3 pts | +42,063 sh | new |
| Exited | Grupo Aeroportuario del Sureste SAB de CV (ASR) | 0.2% | — | −0.2 pts | −2,775 sh | −100% |
| Reduced | Destra Multi-Alternative Fd (DMA) | 1.9% | 1.8% | −0.1 pts | −78,565 sh | −11% |
| Reduced | FS Credit Opportunities Corp (FSCO) | 7.1% | 7.5% | +0.5 pts | −92,385 sh | −3% |
| Reduced | Copa Holdings SA (CPA) | 0.4% | 0.3% | −0.2 pts | −7,000 sh | −46% |
| Increased | Rivernorth Flexible Mun Income Fund II, Inc. (RFMZ) | 1.1% | 1.4% | +0.3 pts | +47,376 sh | +19% |
| Reduced | PIMCO Income Strategy FdII (PFN) | 1.1% | 0.9% | −0.1 pts | −82,112 sh | −18% |
| Reduced | Cornerstone Strategic Value Fund Inc (CLM) | 0.5% | 0.2% | −0.2 pts | −82,960 sh | −48% |
| Exited | BNY Mellon Mun Income Inc (DMF) | 0.2% | — | −0.2 pts | −91,732 sh | −100% |
| Reduced | MasTec Inc (MTZ) | 1.5% | 1.2% | −0.3 pts | −5,000 sh | −14% |
| Exited | Fomento Economico Mexicano SAB de CV (FMX) | 0.2% | — | −0.2 pts | −6,859 sh | −100% |
| Exited | EVERTEC Inc (EVTC) | 0.2% | — | −0.2 pts | −16,956 sh | −100% |
| Reduced | Central Securities Corp (CET) | 1.2% | 1.1% | −0.1 pts | −11,753 sh | −14% |
The 50 largest of 136 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
Top 10 positions — 51.6% of the equity book
Changes in the top 10 this quarter: CUBA entered · JFR entered · SPMC left · XFLT left
| # | Security | Weight before | Weight now | |
|---|---|---|---|---|
| 1 | PIMCO Dynamic Income Strategy Fund (PDX) | 12.5% | 13.7% | |
| 2 | FS Credit Opportunities Corp (FSCO) | 7.1% | 7.5% | |
| 3 | The Herzfeld Caribbean Basin Fund Inc (CUBA) | 1.9% | 5.5% | Entered the top 10 |
| 4 | Saba Capital Income & Opport (SABA) | 4.2% | 5.0% | |
| 5 | Highland Floating Rate Opportunities Fund (HFRO) | 4.6% | 4.7% | |
| 6 | Nuveen Floating Rate Income (JFR) | 1.9% | 3.4% | Entered the top 10 |
| 7 | Prospect Capital Corporation (PSEC) | 2.5% | 3.2% | |
| 8 | Brookfield Real Assets Incom (RA) | 2.5% | 3.0% | |
| 9 | Suro Capital Corp (SSSS) | 2.6% | 2.9% | |
| 10 | Nuveen Vriabl Rat Pfd & Inm (NPFD) | 3.7% | 2.6% | |
| — | Sound Point Meridian Cap Inc. (SPMC) | 2.2% | 1.5% | Left the top 10 |
| — | XAI Octagn Flt Rat & Alt Inm (XFLT) | 2.2% | 2.5% | 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).