Thomas J. Herzfeld Advisors, Inc.

CIK

1509510

Location

MIAMI BEACH, FL

Portfolio Value

Small $248,909,881

Diversification

Diversified

Filing Date

Global Rank

#3,769 / 8,621 ▼ 222 · as of Mar 2026

Top Industry

Asset Management 99.9%

3Y Alpha vs SPY

-5.4%

Period ended 4 months ago

Filed May 12, 2026 · 3mo

25 quarters · since Mar 2020

Clone Performance

Jul 2023–Jul 2026 · vs SPY

Hypothetical growth of buying every stock this filer reported holding, rebalancing on each filing and indexed to the same start. Option positions cannot be bought this way and are left out.

Cloned portfolio

+48.6%

SPY

+67.9%

Annualised alpha

-4.7%

Max drawdown

−18.4%

Estimate. 13F holdings are quarter-lagged, so the clone rebalances about 45 days after each period end — when the filing becomes public — and it excludes option and short positions. It tracks 100% of reported value on average across 13 quarters. Past performance does not predict future results.

Portfolio Concentration

97 positions · as of Mar 31, 2026 · Δ vs Dec 31, 2025

Top Position

14.1%

+3.8 pts

Top 5

44.0%

+10.4 pts

Top 10

60.6%

+6.2 pts

HHI

548

Diversified+138

Portfolio Trend

25 quarters · across all stocks

Sector Breakdown

As of Mar 31, 2026

Sector	% Portfolio	Value	Positions
Financial Services	85.3%	$212,399,057	85
Unclassified	14.6%	$36,278,456	7
Communication Services	0.1%	$170,744	3
Basic Materials	0.0%	$60,294	1
Real Estate	0.0%	$1,330	1

Last Quarter's Activity

Export CSV

Mar 31, 2026 vs Dec 31, 2025

Added To

Positions the filer increased

25 positions

Ticker	Company	Δ Shares	Shares	Value
FSCO	FS Credit Opportunities Corp.	+1,780,154	3,679,935	$18,767,668
FSSL	FS Specialty Lending Fund	+757,861	2,808,727	$35,137,174
HFRO	Highland Opportunities & Income Fund	+258,376	2,715,661	$15,506,424
PTY	Pimco Corporate & Income Opportunity Fund	+194,158	249,976	$3,014,710
EDD	Morgan Stanley Emerging Markets Domestic Debt Fund, Inc.	+135,399	136,584	$692,480
GOF	Guggenheim Strategic Opportunities Fund	+88,155	1,015,400	$11,189,708
EIC	Eagle Point Income Co Inc.	+83,189	394,000	$3,719,360
EMD	Western Asset Emerging Markets Debt Fund Inc.	+66,830	68,384	$671,530
STK	Columbia Seligman Premium Technology Growth Fund, Inc.	+60,390	66,224	$2,511,876
EMO	ClearBridge Energy Midstream Opportunity Fund Inc.	+58,007	59,023	$3,117,594
GAM	General American Investors Co Inc	+32,537	32,661	$1,909,688
MEGI	NYLI CBRE Global Infrastructure Megatrends Term Fund	+17,230	130,723	$1,920,320
EDF	Virtus Stone Harbor Emerging Markets Income Fund	+4,562	6,614	$31,614
PDI	PIMCO Dynamic Income Fund	+2,008	154,860	$2,649,654
TSI	Tcw Strategic Income Fund Inc	+1,258	3,258	$14,628
PFO	Flaherty & Crumrine PREFERRED & INCOME OPPORTUNITY FUND INC	+379	3,724	$33,664
CLM	Cornerstone Strategic Investment Fund, Inc.	+60	1,120	$8,153
ASG	Liberty All Star Growth Fund Inc.	+50	1,127	$5,353
USA	Liberty All Star Equity Fund	+48	871	$4,834
GAB	Gabelli Equity Trust Inc	+28	1,098	$6,148
BDJ	BlackRock Enhanced Equity Dividend Trust	+14	714	$6,154
ZTR	Virtus Total Return Fund Inc.	+10	457	$3,025
NXDT	Nexpoint Diversified Real Estate Trust	+9	285	$1,330
RVT	Royce Small-Cap Trust, Inc.	+7	402	$6,673
ADX	Adams Diversified Equity Fund, Inc.	+6	314	$6,873
No positions match the current search.

Trimmed

Positions the filer reduced

25 positions

Ticker	Company	Δ Shares	Shares	Value
SABA	Saba Capital Income & Opportunities Fund II	−815,574	774,518	$6,443,989
XFLT	XAI Floating Rate & Alternative Income Trust	−578,537	59,545	$1,022,983
BPRE	Bluerock Private Real Estate Fund	−492,275	362,504	$6,021,191
RA	Brookfield Real Assets Income Fund Inc.	−431,626	340,641	$4,380,643
BRW	Saba Capital Income & Opportunities Fund	−417,525	1,417,189	$9,551,853
PAXS	PIMCO Access Income Fund	−307,915	439,995	$6,340,327
PDO	PIMCO Dynamic Income Opportunities Fund	−278,681	66,751	$863,090
STEW	SRH Total Return Fund, Inc.	−274,227	107,778	$1,843,003
BTX	BlackRock Technology & Private Equity Term Trust	−262,442	280,753	$1,852,969
CXH	Mfs Investment Grade Municipal Trust	−219,017	23,409	$187,037
SDHY	PGIM Short Duration High Yield Opportunities Fund	−216,376	113,577	$1,819,503
OXLC	Oxford Lane Capital Corp.	−176,927	222,539	$2,176,431
DSM	Bny Mellon Strategic Municipal Bond Fund, Inc.	−176,159	164,932	$991,241
JFR	Nuveen Floating Rate Income Fund	−163,662	713,294	$5,363,970
TBLD	Thornburg Income Builder Opportunities Trust	−162,255	69,502	$1,469,619
MSD	Morgan Stanley Emerging Markets Debt Fund Inc	−150,477	172,416	$1,210,360
PCQ	Pimco California Municipal Income Fund	−141,975	79,226	$679,759
BSTZ	BlackRock Science & Technology Term Trust	−132,504	82,672	$1,831,184
BGX	Blackstone Long-Short Credit Income Fund	−115,183	117,867	$1,284,750
RFMZ	RiverNorth Flexible Municipal Income Fund II, Inc.	−89,852	229,634	$2,904,870
CXE	Mfs High Income Municipal Trust	−78,253	88,443	$328,123
DPG	Duff & Phelps Utility & Infrastructure Fund Inc.	−77,980	391,497	$5,653,216
MFM	Aberdeen Municipal Income Fund	−75,638	61,837	$333,301
CCIF	Carlyle Credit Income Fund	−74,874	126,239	$405,227
MMD	NYLI MacKay DefinedTerm Muni Opportunities Fund	−52,830	44,396	$659,280
No positions match the current search.

New Positions

Positions the filer opened this quarter

14 positions

Ticker	Company	Shares	Value
HERZ	Herzfeld Credit Income Fund, Inc	807,215	$12,511,832
NML	Neuberger Energy Infrastructure & Income Fund Inc.	323,526	$3,400,258
KYN	Kayne Anderson Energy Infrastructure Fund, Inc.	234,136	$3,343,462
BGR	BlackRock Energy & Resources Trust	181,116	$3,135,117
BCX	BlackRock Resources & Commodities Strategy Trust	216,752	$2,611,861
SPXX	Nuveen S&P 500 Dynamic Overwrite Fund	149,092	$2,395,908
DXYZ	Destiny Tech100 Inc.	82,806	$2,217,544
PNI	Pimco New York Municipal Income Fund II	75,124	$514,599
CEF	Sprott Physical Gold & Silver Trust	8,000	$381,760
NSLR	Neostellar Capital Corp.	32,518	$348,267
HQL	abrdn Life Sciences Investors	11,076	$180,206
DTF	Dtf Tax-Free Income 2028 Term Fund Inc	13,654	$156,338
WIW	Western Asset Inflation-Linked Opportunities & Income Fund	6,546	$55,379
GGN	GAMCO Global Gold, Natural Resources & Income Trust	1,489	$7,921
No positions match the current search.

Sold Out

Positions the filer fully exited

16 positions

Ticker	Company	Shares	Value
NBXG	Neuberger Next Generation Connectivity Fund Inc.	412,390	$5,954,911
DIAX	Nuveen Dow 30sm Dynamic Overwrite Fund	183,190	$2,795,479
JQC	Nuveen Credit Strategies Income Fund	531,122	$2,666,232
NCV	Virtus Convertible & Income Fund	174,319	$2,640,932
CMU	Mfs High Yield Municipal Trust	558,611	$1,960,724
ECC	Eagle Point Credit Co	124,736	$718,479
GNT	GAMCO Natural Resources, Gold & Income Trust	90,459	$673,919
LEO	Bny Mellon Strategic Municipals, Inc.	94,265	$599,525
VFL	abrdn National Municipal Income Fund	35,909	$368,785
FMN	Federated Hermes Premier Municipal Income Fund	29,727	$330,266
NBH	Neuberger Municipal Fund Inc.	32,348	$327,361
DMB	BNY Mellon Municipal Bond Infrastructure Fund, Inc.	23,503	$258,297
SPMC	Sound Point Meridian Capital, Inc.	13,720	$188,650
IIF	Morgan Stanley India Investment Fund, Inc.	391	$9,767
GF	New Germany Fund Inc	689	$7,868
AOD	abrdn Total Dynamic Dividend Fund	590	$5,752
No positions match the current search.

Portfolio Positions

Compact Export CSV View 13F filing

97 positions · $248,909,881 total · as of Mar 31, 2026

All sectors Basic Materials Communication Services Financial Services Real Estate

Showing 1–50 of 97 positions by value · page 1 of 2

Ticker	Company	Type	Shares	Δ Shares	Value (USD)	% Δ Value	% of Portfolio
FSSL	FS Specialty Lending Fund	Added	2,808,727	+757,861	$35,137,174	+21.2%	14.12%
PDX	PIMCO Dynamic Income Strategy Fund Financial Services	Reduced	1,253,348	-52,373	$27,648,856	+12.8%	11.11%
FSCO	FS Credit Opportunities Corp. Financial Services	Added	3,679,935	+1,780,154	$18,767,668	+56.8%	7.54%
HFRO	Highland Opportunities & Income Fund Financial Services	Added	2,715,661	+258,376	$15,506,424	+5.5%	6.23%
HERZ	Herzfeld Credit Income Fund, Inc Financial Services	NEW	807,215	NEW	$12,511,832	NEW	5.03%
GOF	Guggenheim Strategic Opportunities Fund Financial Services	Added	1,015,400	+88,155	$11,189,708	−6.3%	4.50%
BRW	Saba Capital Income & Opportunities Fund Financial Services	Reduced	1,417,189	-417,525	$9,551,853	−25.7%	3.84%
ASA	ASA Gold & Precious Metals Ltd Financial Services	Reduced	125,885	-8,457	$7,808,646	−2.6%	3.14%
SABA	Saba Capital Income & Opportunities Fund II Financial Services	Reduced	774,518	-815,574	$6,443,989	−50.9%	2.59%
PAXS	PIMCO Access Income Fund Financial Services	Reduced	439,995	-307,915	$6,340,327	−44.6%	2.55%
BPRE	Bluerock Private Real Estate Fund Financial Services	Reduced	362,504	-492,275	$6,021,191	−53.0%	2.42%
DPG	Duff & Phelps Utility & Infrastructure Fund Inc. Financial Services	Reduced	391,497	-77,980	$5,653,216	−5.3%	2.27%
JFR	Nuveen Floating Rate Income Fund Financial Services	Reduced	713,294	-163,662	$5,363,970	−21.9%	2.15%
RA	Brookfield Real Assets Income Fund Inc. Financial Services	Reduced	340,641	-431,626	$4,380,643	−56.2%	1.76%
EIC	Eagle Point Income Co Inc. Financial Services	Added	394,000	+83,189	$3,719,360	+4.9%	1.49%
NML	Neuberger Energy Infrastructure & Income Fund Inc. Financial Services	NEW	323,526	NEW	$3,400,258	NEW	1.37%
KYN	Kayne Anderson Energy Infrastructure Fund, Inc. Financial Services	NEW	234,136	NEW	$3,343,462	NEW	1.34%
BGR	BlackRock Energy & Resources Trust Financial Services	NEW	181,116	NEW	$3,135,117	NEW	1.26%
EMO	ClearBridge Energy Midstream Opportunity Fund Inc. Financial Services	Added	59,023	+58,007	$3,117,594	+6772.4%	1.25%
PTY	Pimco Corporate & Income Opportunity Fund Financial Services	Added	249,976	+194,158	$3,014,710	+318.7%	1.21%
RFMZ	RiverNorth Flexible Municipal Income Fund II, Inc. Financial Services	Reduced	229,634	-89,852	$2,904,870	−28.2%	1.17%
TWN	Taiwan Fund Inc Financial Services	Reduced	41,499	-41,167	$2,728,144	−38.2%	1.10%
PDI	PIMCO Dynamic Income Fund Financial Services	Added	154,860	+2,008	$2,649,654	−2.1%	1.06%
BCX	BlackRock Resources & Commodities Strategy Trust Financial Services	NEW	216,752	NEW	$2,611,861	NEW	1.05%
STK	Columbia Seligman Premium Technology Growth Fund, Inc. Financial Services	Added	66,224	+60,390	$2,511,876	+1070.3%	1.01%
FINS	Angel Oak Financial Strategies Income Term Trust Financial Services	Reduced	193,430	-23,083	$2,466,232	−13.8%	0.99%
SPXX	Nuveen S&P 500 Dynamic Overwrite Fund Financial Services	NEW	149,092	NEW	$2,395,908	NEW	0.96%
DXYZ	Destiny Tech100 Inc. Financial Services	NEW	82,806	NEW	$2,217,544	NEW	0.89%
OXLC	Oxford Lane Capital Corp. Financial Services	Reduced	222,539	-176,927	$2,176,431	−62.8%	0.87%
LDP	Cohen & Steers Ltd Duration Preferred & Income Fund, Inc. Financial Services	Reduced	103,791	-20,247	$2,072,706	−21.1%	0.83%
MEGI	NYLI CBRE Global Infrastructure Megatrends Term Fund Financial Services	Added	130,723	+17,230	$1,920,320	+23.0%	0.77%
GAM	General American Investors Co Inc Financial Services	Added	32,661	+32,537	$1,909,688	+26124.8%	0.77%
BTX	BlackRock Technology & Private Equity Term Trust Financial Services	Reduced	280,753	-262,442	$1,852,969	−48.2%	0.74%
STEW	SRH Total Return Fund, Inc. Financial Services	Reduced	107,778	-274,227	$1,843,003	−74.0%	0.74%
BSTZ	BlackRock Science & Technology Term Trust Financial Services	Reduced	82,672	-132,504	$1,831,184	−62.4%	0.74%
SDHY	PGIM Short Duration High Yield Opportunities Fund Financial Services	Reduced	113,577	-216,376	$1,819,503	−66.5%	0.73%
CET	Central Securities Corp Financial Services	Reduced	36,505	-18,064	$1,812,838	−34.5%	0.73%
TBLD	Thornburg Income Builder Opportunities Trust Financial Services	Reduced	69,502	-162,255	$1,469,619	−68.5%	0.59%
GDV	Gabelli Dividend & Income Trust Financial Services	Reduced	51,278	-16,813	$1,380,916	−27.0%	0.55%
JLS	Nuveen Mortgage & Income Fund/MA/ Financial Services	Reduced	72,639	-8,081	$1,316,945	−10.3%	0.53%
BGX	Blackstone Long-Short Credit Income Fund Financial Services	Reduced	117,867	-115,183	$1,284,750	−52.7%	0.52%
DMO	Western Asset Mortgage Opportunity Fund Inc. Financial Services	Reduced	114,887	-6,965	$1,235,035	−8.4%	0.50%
MSD	Morgan Stanley Emerging Markets Debt Fund Inc Financial Services	Reduced	172,416	-150,477	$1,210,360	−49.3%	0.49%
BTT	BlackRock Municipal 2030 Target Term Trust Financial Services	Reduced	49,066	-619	$1,113,798	−1.8%	0.45%
XFLT	XAI Floating Rate & Alternative Income Trust Financial Services	Reduced	59,545	-578,537	$1,022,983	−66.6%	0.41%
DSM	Bny Mellon Strategic Municipal Bond Fund, Inc. Financial Services	Reduced	164,932	-176,159	$991,241	−52.9%	0.40%
PDO	PIMCO Dynamic Income Opportunities Fund Financial Services	Reduced	66,751	-278,681	$863,090	−81.9%	0.35%
EDD	Morgan Stanley Emerging Markets Domestic Debt Fund, Inc. Financial Services	Added	136,584	+135,399	$692,480	+10662.8%	0.28%
PCQ	Pimco California Municipal Income Fund Financial Services	Reduced	79,226	-141,975	$679,759	−64.8%	0.27%
EMD	Western Asset Emerging Markets Debt Fund Inc. Financial Services	Added	68,384	+66,830	$671,530	+3965.2%	0.27%