Thomas J. Herzfeld Advisors, Inc.

CIK

1509510

Location

MIAMI BEACH, FL

Portfolio Value

Small $247,853,234

Diversification

Diversified

Filing Date

Global Rank

#3,456 / 8,232 ▼ 121

Top Industry

Asset Management 99.9%

3Y Alpha vs SPY

-5.9%

Period ended 2 months ago

Filed May 12, 2026 · 32d

25 quarters · since Mar 2020

Clone Performance

Jun 2023–Jun 2026 · vs SPY

Hypothetical growth of cloning every reported 13F position and rebalancing on each filing, indexed to the same start.

Cloned portfolio

+51.8%

SPY

+76.5%

Annualised alpha

-5.9%

Max drawdown

−18.5%

Estimate. 13F holdings are quarter-lagged and long-only, so the clone rebalances about 45 days after each period end — when the filing becomes public — and excludes options and short positions. Past performance does not predict future results.

Portfolio Concentration

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

Top Position

14.2%

+4.3 pts

Top 5

44.2%

+11.1 pts

Top 10

60.9%

+6.9 pts

HHI

552

Diversified+149

Portfolio Trend

25 quarters · across all stocks

Sector Breakdown

As of Mar 31, 2026

Sector	% Portfolio	Value	Positions
Financial Services	85.3%	$211,342,410	83
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
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
QQQX	Nuveen NASDAQ 100 Dynamic Overwrite Fund	+4	225	$6,000
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
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	Mfs Municipal Income Trust	−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
PDX	PIMCO Dynamic Income Strategy Fund	−52,373	1,253,348	$27,648,856
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
SSSS	Suro 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

17 positions

Ticker	Company	Shares	Value
XFLT	XAI Octagon Floating Rate & Alternative Income Trust	638,082	$15,313,968
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

95 positions · $247,853,234 total · as of Mar 31, 2026

All sectors Basic Materials Communication Services Financial Services Real Estate

Showing 1–50 of 95 positions by value · page 1 of 2

Ticker	Company	Type	Shares	Δ Shares	Value (USD)	% Δ Value	% of Portfolio
NXDT	Nexpoint Diversified Real Estate Trust Real Estate	Added	285	+9	$1,330	+25.8%	0.00%
ZTR	Virtus Total Return Fund Inc.	Added	457	+10	$3,025	+7.4%	0.00%
USA	Liberty All Star Equity Fund Financial Services	Added	871	+48	$4,834	−6.5%	0.00%
AEF	abrdn Emerging Markets ex-China Fund, Inc. Financial Services	Reduced	667	-1,457	$4,862	−67.3%	0.00%
ASG	Liberty All Star Growth Fund Inc. Financial Services	Added	1,127	+50	$5,353	−6.2%	0.00%
JCE	Nuveen Core Equity Alpha Fund Financial Services	Held	393	0	$5,808	−7.3%	0.00%
QQQX	Nuveen NASDAQ 100 Dynamic Overwrite Fund Financial Services	Added	225	+4	$6,000	−4.8%	0.00%
GAB	Gabelli Equity Trust Inc Financial Services	Added	1,098	+28	$6,148	−5.9%	0.00%
BDJ	BlackRock Enhanced Equity Dividend Trust Financial Services	Added	714	+14	$6,154	−7.3%	0.00%
TY	TRI-CONTINENTAL Corp Financial Services	Added	195	+1	$6,160	−2.8%	0.00%
RVT	Royce Small-Cap Trust, Inc. Financial Services	Added	402	+7	$6,673	+4.9%	0.00%
ADX	Adams Diversified Equity Fund, Inc. Financial Services	Added	314	+6	$6,873	−4.3%	0.00%
MXE	Mexico Equity & Income Fund Inc Financial Services	Reduced	570	-810	$7,353	−57.0%	0.00%
MXF	Mexico Fund Inc Financial Services	Reduced	354	-416	$7,409	−52.2%	0.00%
EMF	Templeton Emerging Markets Fund Financial Services	Reduced	429	-231	$7,503	−33.2%	0.00%
EEA	European Equity Fund, Inc / MD Financial Services	Reduced	772	-909	$7,635	−55.9%	0.00%
GGN	GAMCO Global Gold, Natural Resources & Income Trust Financial Services	NEW	1,489	NEW	$7,921	NEW	0.00%
CLM	Cornerstone Strategic Investment Fund, Inc. Financial Services	Added	1,120	+60	$8,153	−8.0%	0.00%
TDF	Templeton Dragon Fund Inc Financial Services	Reduced	775	-641	$8,222	−48.4%	0.00%
PGZ	Principal Real Estate Income Fund Financial Services	Reduced	907	-85	$8,716	−12.2%	0.00%
NMAI	Nuveen Multi-Asset Income Fund Financial Services	Reduced	898	-198	$11,135	−22.1%	0.00%
JOF	Japan Smaller Capitalization Fund Inc Financial Services	Reduced	1,150	-701	$12,535	−38.9%	0.01%
TSI	Tcw Strategic Income Fund Inc Financial Services	Added	3,258	+1,258	$14,628	+48.1%	0.01%
KF	Korea Fund Inc Financial Services	Reduced	380	-222	$17,062	−22.0%	0.01%
ANGX	Angel Studios, Inc. Communication Services	Held	5,699	0	$17,381	−34.7%	0.01%
FPF	First Trust Intermediate Duration Preferred & Income Fund Financial Services	Reduced	1,762	-30	$31,064	−7.0%	0.01%
EDF	Virtus Stone Harbor Emerging Markets Income Fund Financial Services	Added	6,614	+4,562	$31,614	+210.0%	0.01%
FXY	Invesco CurrencyShares Japanese Yen Trust	Held	600	0	$34,728	−1.3%	0.01%
WIW	Western Asset Inflation-Linked Opportunities & Income Fund Financial Services	NEW	6,546	NEW	$55,379	NEW	0.02%
META	Meta Platforms, Inc. Communication Services	Held	100	0	$57,213	−13.3%	0.02%
TMC	TMC the metals Co Inc. Basic Materials	Held	12,911	0	$60,294	−24.3%	0.02%
MDY	Spdr S&P Midcap 400 ETF Trust	Held	150	0	$92,514	+2.2%	0.04%
NFLX	Netflix Inc Communication Services	Held	1,000	0	$96,150	+2.5%	0.04%
QQQ	Invesco Qqq Trust, Series 1	Held	270	0	$155,838	−6.0%	0.06%
DTF	Dtf Tax-Free Income 2028 Term Fund Inc Financial Services	NEW	13,654	NEW	$156,338	NEW	0.06%
HQL	abrdn Life Sciences Investors Financial Services	NEW	11,076	NEW	$180,206	NEW	0.07%
CXH	Mfs Investment Grade Municipal Trust Financial Services	Reduced	23,409	-219,017	$187,037	−90.3%	0.08%
SPY	Spdr S&P 500 ETF Trust	Held	390	0	$253,632	−4.6%	0.10%
CXE	Mfs High Income Municipal Trust Financial Services	Reduced	88,443	-78,253	$328,123	−46.8%	0.13%
MFM	Mfs Municipal Income Trust Financial Services	Reduced	61,837	-75,638	$333,301	−55.4%	0.13%
SSSS	Suro Capital Corp. Financial Services	NEW	32,518	NEW	$348,267	NEW	0.14%
CEF	Sprott Physical Gold & Silver Trust Financial Services	NEW	8,000	NEW	$381,760	NEW	0.15%
CCIF	Carlyle Credit Income Fund Financial Services	Reduced	126,239	-74,874	$405,227	−57.0%	0.16%
PNI	Pimco New York Municipal Income Fund II Financial Services	NEW	75,124	NEW	$514,599	NEW	0.21%
GLD	Spdr Gold Trust	Held	1,398	0	$601,545	+8.6%	0.24%
MMD	NYLI MacKay DefinedTerm Muni Opportunities Fund Financial Services	Reduced	44,396	-52,830	$659,280	−54.4%	0.27%
EMD	Western Asset Emerging Markets Debt Fund Inc. Financial Services	Added	68,384	+66,830	$671,530	+3965.2%	0.27%
PCQ	Pimco California Municipal Income Fund Financial Services	Reduced	79,226	-141,975	$679,759	−64.8%	0.27%
EDD	Morgan Stanley Emerging Markets Domestic Debt Fund, Inc. Financial Services	Added	136,584	+135,399	$692,480	+10662.8%	0.28%
PDO	PIMCO Dynamic Income Opportunities Fund Financial Services	Reduced	66,751	-278,681	$863,090	−81.9%	0.35%