Thomas J Herzfeld Advisors Inc's Q1 2026 13F: 27 new positions, 19 exits
Form 13F-HR for the quarter ended Mar 31, 2026 · filed May 12, 2026 · 115 reported positions · accession 0001398344-26-008954
What changed this quarter
| Activity | Security | Weight before | Weight now | Change | Shares | Shares % |
|---|---|---|---|---|---|---|
| Exited | HERZFELD CREDIT INCOME FUND (CUBA) | 4.4% | — | −4.4 pts | −5.84M sh | −100% |
| New | Herzfeld Credit Income Fund, Inc. (HERZ) | — | 4.3% | +4.3 pts | +807K sh | new |
| New | ProShares TR (SJB) | — | 4.2% | +4.2 pts | +797K sh | new |
| Increased | FS Specialty Lending Fund (FSEN) | 9.8% | 11.9% | +2.1 pts | +758K sh | +37% |
| Increased | FS Credit Opportunities Corp (FSCO) | 4.0% | 6.4% | +2.3 pts | +1.78M sh | +94% |
| Reduced | Bluerock Private Real Estate Fund (BPRE) | 4.3% | 2.0% | −2.3 pts | −492K sh | −58% |
| New | ProShares UltraShort S&P500 (SDS) | — | 2.8% | +2.8 pts | +109K sh | new |
| Reduced | Saba Capital Income & Opport II (SABA) | 4.4% | 2.2% | −2.2 pts | −816K sh | −51% |
| Exited | NEUBERGER NEXT GENERATION (NBXG) | 2.0% | — | −2.0 pts | −412K sh | −100% |
| Reduced | Brookfield Real Assets Incom (RA) | 3.4% | 1.5% | −1.9 pts | −432K sh | −56% |
| New | Simplify Exchange Traded Fun (PFIX) | — | 1.8% | +1.8 pts | +118K sh | new |
| Reduced | SRH Total Return Fund Inc (STEW) | 2.4% | 0.6% | −1.8 pts | −274K sh | −72% |
| Reduced | PIMCO Access Income Fund (PAXS) | 3.9% | 2.2% | −1.7 pts | −308K sh | −41% |
| Increased | iShares Tr (TFLO) | 0.1% | 1.4% | +1.3 pts | +74,999 sh | +1678% |
| Reduced | PIMCO Dynamic Income Oprnts (PDO) | 1.6% | 0.3% | −1.3 pts | −279K sh | −81% |
| Reduced | PGIM Short Dur Hig yld Opp F (SDHY) | 1.8% | 0.6% | −1.2 pts | −216K sh | −66% |
| Reduced | Thornburg Incm Builder Opp Tr (TBLD) | 1.6% | 0.5% | −1.1 pts | −162K sh | −70% |
| New | Neuberger Berman MLP Income Fund Inc (NML) | — | 1.2% | +1.2 pts | +324K sh | new |
| New | Kayne Anderson Energy Infrst (KYN) | — | 1.1% | +1.1 pts | +234K sh | new |
| New | BlackRock Energy and Resources Trust (BGR) | — | 1.1% | +1.1 pts | +181K sh | new |
| Increased | Clearbridge Energy Midstrm O (EMO) | 0.0% | 1.1% | +1.0 pts | +58,007 sh | +5709% |
| Exited | XAI OCTAGN FLT RAT & ALT INM (XFLT) | 1.0% | — | −1.0 pts | −638K sh | −100% |
| New | Direxion Shares ETF Tr (DUSTZZZZ) | — | 1.0% | +1.0 pts | +58,011 sh | new |
| Reduced | BlackRock Science and Technology Trust II (BSTZ) | 1.6% | 0.6% | −1.0 pts | −133K sh | −62% |
| Reduced | Saba Capital Income & Opport (BRW) | 4.4% | 3.2% | −1.1 pts | −418K sh | −23% |
| Exited | NUVEEN DOW 30 DYNMC OVERWRT (DIAX) | 0.9% | — | −0.9 pts | −183K sh | −100% |
| Reduced | The Taiwan Fund Inc (TWN) | 1.5% | 0.9% | −0.6 pts | −41,167 sh | −50% |
| Exited | NUVEEN CR STRATEGIES INCOME (JQC) | 0.9% | — | −0.9 pts | −531K sh | −100% |
| New | ProShares TR (QID) | — | 0.9% | +0.9 pts | +116K sh | new |
| Exited | VIRTUS CONVERTIBLE & INCOME (NCV) | 0.9% | — | −0.9 pts | −174K sh | −100% |
| New | BlackRock Res & Commodities Strat Trust (BCX) | — | 0.9% | +0.9 pts | +217K sh | new |
| New | Nuveen S&P 500 Dynamic Overw (SPXX) | — | 0.8% | +0.8 pts | +149K sh | new |
| Increased | PIMCO Corporate & Income Opp Fund (PTY) | 0.2% | 1.0% | +0.8 pts | +194K sh | +348% |
| New | Invesco Exch Trd SLF IDX Fd (BSMQ) | — | 0.8% | +0.8 pts | +98,083 sh | new |
| Increased | Columbia Seligman Premium Technology Growth Fund (STK) | 0.1% | 0.9% | +0.8 pts | +60,390 sh | +1035% |
| New | Invesco Exch Trd SLF IDX Fd (BSMR) | — | 0.8% | +0.8 pts | +96,212 sh | new |
| New | Destiny Tech100 Inc (DXYZ) | — | 0.8% | +0.8 pts | +82,806 sh | new |
| New | First Trust Ultra Short Duration Municipal (FUMB) | — | 0.7% | +0.7 pts | +110K sh | new |
| Exited | MFS HIGH YIELD MUN TR (CMU) | 0.7% | — | −0.7 pts | −559K sh | −100% |
| Increased | General American Investors Co Inc (GAM) | 0.0% | 0.6% | +0.6 pts | +32,537 sh | +26240% |
| Reduced | MFS Investment Grade Municipal Trust (CXH) | 0.7% | 0.1% | −0.6 pts | −219K sh | −90% |
| Reduced | BlackRock Tech and Private Eq (BTX) | 1.2% | 0.6% | −0.6 pts | −262K sh | −48% |
| Reduced | Oxford Lane Cap Corp (OXLC) | 2.0% | 0.7% | −1.2 pts | −177K sh | −44% |
| Increased | Highland Floating Rate Opportunities Fund (HFRO) | 5.0% | 5.3% | +0.3 pts | +258K sh | +11% |
| Reduced | Blackstone / GSO Long-Short Credit Income Fund (BGX) | 0.9% | 0.4% | −0.5 pts | −115K sh | −49% |
| Reduced | Nuveen Floating Rate Income (JFR) | 2.3% | 1.8% | −0.5 pts | −164K sh | −19% |
| New | Invesco Exch Traded Fd Tr II (PVI) | — | 0.4% | +0.4 pts | +49,141 sh | new |
| Reduced | PIMCO Calif Mun Income Fund (PCQ) | 0.7% | 0.2% | −0.4 pts | −142K sh | −64% |
| Reduced | PIMCO Dynamic Income Strategy Fund (PDX) | 8.3% | 9.4% | +1.1 pts | −52,373 sh | −4% |
| Reduced | Rivernorth Flexible Mun Income Fund II, Inc. (RFMZ) | 1.4% | 1.0% | −0.4 pts | −89,852 sh | −28% |
The 50 largest of 120 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 — 53.9% of the equity book
Changes in the top 10 this quarter: HERZ entered · SJB entered · SDS entered · ASA entered · SABA left · CUBA left · BPRE left · PAXS left
| # | Security | Weight before | Weight now | |
|---|---|---|---|---|
| 1 | FS Specialty Lending Fund (FSEN) | 9.8% | 11.9% | |
| 2 | PIMCO Dynamic Income Strategy Fund (PDX) | 8.3% | 9.4% | |
| 3 | FS Credit Opportunities Corp (FSCO) | 4.0% | 6.4% | |
| 4 | Highland Floating Rate Opportunities Fund (HFRO) | 5.0% | 5.3% | |
| 5 | Herzfeld Credit Income Fund, Inc. (HERZ) | 0.0% | 4.3% | Entered the top 10 |
| 6 | ProShares TR (SJB) | 0.0% | 4.2% | Entered the top 10 |
| 7 | Guggenheim Strategic Opp Fund (GOF) | 4.0% | 3.8% | |
| 8 | Saba Capital Income & Opport (BRW) | 4.4% | 3.2% | |
| 9 | ProShares UltraShort S&P500 (SDS) | 0.0% | 2.8% | Entered the top 10 |
| 10 | ASA Gold and Precious Metals Ltd (ASA) | 2.7% | 2.7% | Entered the top 10 |
| — | Saba Capital Income & Opport II (SABA) | 4.4% | 2.2% | Left the top 10 |
| — | HERZFELD CREDIT INCOME FUND (CUBA) | 4.4% | 0.0% | Left the top 10 |
| — | Bluerock Private Real Estate Fund (BPRE) | 4.3% | 2.0% | Left the top 10 |
| — | PIMCO Access Income Fund (PAXS) | 3.9% | 2.2% | 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).