# Thomas J. Herzfeld Advisors, Inc.

> Institutional holdings reported to the SEC as of Q2 2026 on Form 13F. CIK 1509510. Source: https://holderbook.com/funds/1509510-thomas-j-herzfeld-advisors-inc/

- Reported value: $325.8M
- Positions: 129
- Weight of the ten largest: 49.8%
- Filed: 2026-08-10

A 13F reports long US equity positions only. Short positions, bonds, foreign listings, private holdings and cash are not visible, so this is not the manager's whole book.

## Holdings

| Security | Ticker | Value | Shares | Weight | Quarters held |
|---|---|---|---|---|---|
| FS SPECIALTY LENDING FD | [FSSL](https://holderbook.com/stocks/FSSL/) | $32.3M | 2,900,663 | 9.9% | 3 |
| PIMCO DYNAMIC INCOME STRATEG | [PDX](https://holderbook.com/stocks/PDX/) | $22.8M | 1,095,075 | 7.0% | 23 |
| FS CREDIT OPPORTUNITIES CORP | [FSCO](https://holderbook.com/stocks/FSCO/) | $19.6M | 3,921,573 | 6.0% | 14 |
| HIGHLAND OPPS & INCOME FD | [HFRO](https://holderbook.com/stocks/HFRO/) | $19.1M | 2,676,474 | 5.9% | 31 |
| GUGGENHEIM STRATEGIC OPPORTU | [GOF](https://holderbook.com/stocks/GOF/) | $14.6M | 1,336,680 | 4.5% | 3 |
| HERZFELD CARIBBEAN BASIN FD | [HERZ](https://holderbook.com/stocks/HERZ/) | $14.1M | 817,534 | 4.3% | 2 |
| PERSHING SQUARE USA LTD | [PSUS](https://holderbook.com/stocks/PSUS/) | $10.7M | 285,421 | 3.3% | 1 |
| SABA CAPITAL INCOME & OPRNT | [BRW](https://holderbook.com/stocks/BRW/) | $10.1M | 1,544,694 | 3.1% | 5 |
| SURO CAPITAL CORP | [NSLR](https://holderbook.com/stocks/NSLR/) | $9.9M | 788,403 | 3.0% | 2 |
| EAGLE POINT INCOME COMPANY I | [EIC](https://holderbook.com/stocks/EIC/) | $9.0M | 897,140 | 2.8% | 3 |
| NUVEEN FLOATING RATE INCOME | [JFR](https://holderbook.com/stocks/JFR/) | $8.5M | 1,111,921 | 2.6% | 12 |
| SABA CAPITAL INCOME & OPPORT | [SABA](https://holderbook.com/stocks/SABA/) | $7.4M | 891,603 | 2.3% | 9 |
| COLUMBIA SELIGM PREM TECH GR | [STK](https://holderbook.com/stocks/STK/) | $7.0M | 129,150 | 2.1% | 13 |
| PIMCO DYNAMIC INCOME FD | [PDI](https://holderbook.com/stocks/PDI/) | $6.5M | 388,727 | 2.0% | 3 |
| DUFF & PHELPS UTLITY AND INF | [DPG](https://holderbook.com/stocks/DPG/) | $5.4M | 360,644 | 1.6% | 5 |
| BLACKROCK SCIENCE & TECHNOLO | [BSTZ](https://holderbook.com/stocks/BSTZ/) | $5.0M | 166,033 | 1.5% | 25 |
| BROOKFIELD REAL ASSETS INCOM | [RA](https://holderbook.com/stocks/RA/) | $4.8M | 369,085 | 1.5% | 10 |
| BLACKROCK TECH AND PRIVATE E | [BTX](https://holderbook.com/stocks/BTX/) | $4.7M | 515,402 | 1.4% | 3 |
| TAIWAN FD INC | [TWN](https://holderbook.com/stocks/TWN/) | $4.6M | 47,520 | 1.4% | 23 |
| PIMCO ACCESS INCOME FUND | [PAXS](https://holderbook.com/stocks/PAXS/) | $4.5M | 311,965 | 1.4% | 10 |
| TORTOISE ENERGY INFRSTRCTR C | [TYG](https://holderbook.com/stocks/TYG/) | $4.3M | 100,275 | 1.3% | 1 |
| BLUEROCK PVT REAL ESTATE FD | [BPRE](https://holderbook.com/stocks/BPRE/) | $3.9M | 303,336 | 1.2% | 3 |
| KAYNE ANDERSON ENERGY INFRST | [KYN](https://holderbook.com/stocks/KYN/) | $3.8M | 276,097 | 1.2% | 2 |
| KOREA FD INC | [KF](https://holderbook.com/stocks/KF/) | $3.7M | 49,834 | 1.2% | 31 |
| CLEARBRIDGE ENERGY MIDSTREAM | [EMO](https://holderbook.com/stocks/EMO/) | $3.7M | 73,130 | 1.1% | 3 |
| NEUBERGER ENGY INFRSTR & INC | [NML](https://holderbook.com/stocks/NML/) | $3.6M | 352,764 | 1.1% | 2 |
| BLACKROCK ENERGY & RES TR | [BGR](https://holderbook.com/stocks/BGR/) | $3.5M | 238,075 | 1.1% | 2 |
| XAI FLOATING RATE & ALTER IN | [XFLT](https://holderbook.com/stocks/XFLT/) | $3.5M | 198,688 | 1.1% | 2 |
| ASA GOLD AND PRECIOUS MTLS L | [ASA](https://holderbook.com/stocks/ASA/) | $3.5M | 66,761 | 1.1% | 7 |
| NXG NEXTGEN INFRASTR INCM FD | [NXG](https://holderbook.com/stocks/NXG/) | $3.4M | 53,297 | 1.1% | 1 |
| CALAMOS CONV & HIGH INCOME F | [CHY](https://holderbook.com/stocks/CHY/) | $3.3M | 245,638 | 1.0% | 1 |
| RIVERNORTH FLEXIBLE MUNI INC | [RFMZ](https://holderbook.com/stocks/RFMZ/) | $3.3M | 243,641 | 1.0% | 11 |
| VIRTUS CONVERTIBLE & INC FD | [NCZ](https://holderbook.com/stocks/NCZ/) | $3.3M | 205,874 | 1.0% | 1 |
| VIRTUS CONVERTIBLE & INCOME | [NCV](https://holderbook.com/stocks/NCV/) | $3.3M | 185,909 | 1.0% | 1 |
| PIMCO CORPORATE & INCOME OPP | [PTY](https://holderbook.com/stocks/PTY/) | $3.0M | 252,532 | 0.9% | 3 |
| COHEN & STEERS LTD DURATION | [LDP](https://holderbook.com/stocks/LDP/) | $2.9M | 137,739 | 0.9% | 15 |
| ANGEL OAK FINL STRATEGIES IN | [FINS](https://holderbook.com/stocks/FINS/) | $2.8M | 222,390 | 0.9% | 5 |
| BLACKROCK RES & COMMODITIES | [BCX](https://holderbook.com/stocks/BCX/) | $2.7M | 238,622 | 0.8% | 2 |
| PGIM GLOBAL HIGH YIELD FD FO | [GHY](https://holderbook.com/stocks/GHY/) | $2.6M | 215,331 | 0.8% | 1 |
| BLACKROCK CR ALLOCATION | [BTZ](https://holderbook.com/stocks/BTZ/) | $2.5M | 245,318 | 0.8% | 1 |
| PGIM SHORT DUR HIG YLD OPP F | [SDHY](https://holderbook.com/stocks/SDHY/) | $2.3M | 138,168 | 0.7% | 7 |
| GENERAL AMERN INVS CO INC | [GAM](https://holderbook.com/stocks/GAM/) | $2.0M | 31,935 | 0.6% | 31 |
| NYLI CBRE GBL INFR MEGTRNDS | [MEGI](https://holderbook.com/stocks/MEGI/) | $2.0M | 129,641 | 0.6% | 6 |
| ABERDEEN MUN INCOME FD | [MFM](https://holderbook.com/stocks/MFM/) | $1.9M | 345,429 | 0.6% | 11 |
| BLACKSTONE LONG SHORT CR INC | [BGX](https://holderbook.com/stocks/BGX/) | $1.9M | 177,105 | 0.6% | 5 |
| ARES DYNAMIC CR ALLOCATION F | [ARDC](https://holderbook.com/stocks/ARDC/) | $1.9M | 150,623 | 0.6% | 1 |
| THORNBURG INCM BUILDER OPP T | [TBLD](https://holderbook.com/stocks/TBLD/) | $1.8M | 80,479 | 0.5% | 19 |
| PIMCO CALIF MUN INCOME FD | [PCQ](https://holderbook.com/stocks/PCQ/) | $1.7M | 185,469 | 0.5% | 4 |
| PIMCO NEW YORK MUN FD II | [PNI](https://holderbook.com/stocks/PNI/) | $1.6M | 231,370 | 0.5% | 2 |
| EXCHANGE LISTED FDS TR | [CEFS](https://holderbook.com/stocks/CEFS/) | $1.6M | 62,053 | 0.5% | 17 |
| BLACKROCK MUN TARGET TERM TR | [BTT](https://holderbook.com/stocks/BTT/) | $1.3M | 56,610 | 0.4% | 5 |
| BLACKSTONE STRATEGIC CRED 20 | [BGB](https://holderbook.com/stocks/BGB/) | $1.3M | 112,665 | 0.4% | 1 |
| BNY MELLON STRATEGIC MUN BD | [DSM](https://holderbook.com/stocks/DSM/) | $1.2M | 195,902 | 0.4% | 11 |
| RIVERNORTH FLEXIBLE MUN INCO | [RFM](https://holderbook.com/stocks/RFM/) | $1.2M | 79,341 | 0.4% | 1 |
| BLACKROCK MUNIHOLDINGS FD IN | [MHD](https://holderbook.com/stocks/MHD/) | $1.0M | 86,578 | 0.3% | 1 |
| NYLI MACKAY DEFINEDTERM MUNI | [MMD](https://holderbook.com/stocks/MMD/) | $940.7K | 60,688 | 0.3% | 7 |
| PIMCO DYNAMIC INCOME OPRNTS | [PDO](https://holderbook.com/stocks/PDO/) | $882.4K | 66,751 | 0.3% | 4 |
| NUVEEN MORTGAGE AND INCOME F | [JLS](https://holderbook.com/stocks/JLS/) | $784.7K | 44,897 | 0.2% | 25 |
| FEDERATED HERMES PREM MUNI I | [FMN](https://holderbook.com/stocks/FMN/) | $760.1K | 66,149 | 0.2% | 1 |
| NEUBERGER MUN FD INC | [NBH](https://holderbook.com/stocks/NBH/) | $759.4K | 71,978 | 0.2% | 1 |
| DTF TAX-FREE INCOME 2028 TER | [DTF](https://holderbook.com/stocks/DTF/) | $753.7K | 65,258 | 0.2% | 2 |
| PUTNAM MUN OPPORTUNITIES TR | [PMO](https://holderbook.com/stocks/PMO/) | $745.2K | 70,700 | 0.2% | 1 |
| CARLYLE CREDIT INCOME FUND | [CCIF](https://holderbook.com/stocks/CCIF/) | $734.9K | 263,404 | 0.2% | 4 |
| WESTERN ASSET MTG DEFINED OP | [DMO](https://holderbook.com/stocks/DMO/) | $671.1K | 62,657 | 0.2% | 26 |
| WESTERN ASSET MANAGED MUNS F | [MMU](https://holderbook.com/stocks/MMU/) | $662.8K | 63,607 | 0.2% | 1 |
| PUTNAM MANAGED MUN INCOME TR | [PMM](https://holderbook.com/stocks/PMM/) | $588.0K | 89,911 | 0.2% | 1 |
| CENTRAL SECS CORP | [CET](https://holderbook.com/stocks/CET/) | $565.8K | 10,787 | 0.2% | 31 |
| PIMCO MUN INCOME FD II | [PML](https://holderbook.com/stocks/PML/) | $559.3K | 73,493 | 0.2% | 1 |
| SPDR GOLD TR | [GLD](https://holderbook.com/stocks/GLD/) | $515.0K | 1,398 | 0.2% | 23 |
| ALLIANCEBERNSTEIN NATL MUN I | [AFB](https://holderbook.com/stocks/AFB/) | $376.7K | 33,015 | 0.1% | 1 |
| BNY MELLON STRATEGIC MUNS IN | [LEO](https://holderbook.com/stocks/LEO/) | $376.5K | 58,283 | 0.1% | 1 |
| WESTERN ASSET INTER MUNI | [SBI](https://holderbook.com/stocks/SBI/) | $374.9K | 47,641 | 0.1% | 1 |
| SPROTT ASSET MANAGEMENT LP | [CEF](https://holderbook.com/stocks/CEF/) | $321.8K | 8,000 | 0.1% | 2 |
| STATE STR SPDR S&P 500 ETF T | [SPY](https://holderbook.com/stocks/SPY/) | $291.2K | 390 | 0.1% | 31 |
| EATON VANCE MUN BD FD | [EIM](https://holderbook.com/stocks/EIM/) | $238.1K | 23,905 | 0.1% | 1 |
| RIVERNORTH MANAGED DUR MUN I | [RMMZ](https://holderbook.com/stocks/RMMZ/) | $237.7K | 15,802 | 0.1% | 1 |
| ISHARES TR | [TFLO](https://holderbook.com/stocks/TFLO/) | $226.3K | 4,469 | 0.1% | 14 |
| INVESCO QQQ TR | [QQQ](https://holderbook.com/stocks/QQQ/) | $198.8K | 270 | 0.1% | 31 |
| ABRDN LIFE SCIENCES INVESTOR | [HQL](https://holderbook.com/stocks/HQL/) | $183.9K | 9,191 | 0.1% | 2 |
| DESTINY TECH100 INC | [DXYZ](https://holderbook.com/stocks/DXYZ/) | $169.7K | 6,588 | 0.1% | 2 |
| STATE STR SPDR S&P MIDCAP 40 | [MDY](https://holderbook.com/stocks/MDY/) | $105.5K | 150 | 0.0% | 31 |
| NETFLIX INC | [NFLX](https://holderbook.com/stocks/NFLX/) | $71.4K | 1,000 | 0.0% | 25 |
| TMC THE METALS COMPANY INC | [TMC](https://holderbook.com/stocks/TMC/) | $57.2K | 12,911 | 0.0% | 18 |
| META PLATFORMS INC | [META](https://holderbook.com/stocks/META/) | $56.3K | 100 | 0.0% | 25 |
| WESTERN AST INFL LKD OPP & I | [WIW](https://holderbook.com/stocks/WIW/) | $55.0K | 6,546 | 0.0% | 2 |
| BARINGS CORPORATE INVS | [MCI](https://holderbook.com/stocks/MCI/) | $36.5K | 2,081 | 0.0% | 1 |
| FIRST TR INTER DURATN PFD & | [FPF](https://holderbook.com/stocks/FPF/) | $36.1K | 1,985 | 0.0% | 7 |
| FLAHERTY & CRUMRINE PFD INCO | [PFO](https://holderbook.com/stocks/PFO/) | $34.0K | 3,679 | 0.0% | 8 |
| INVESCO CURRENCYSHARES | [FXY](https://holderbook.com/stocks/FXY/) | $33.9K | 600 | 0.0% | 16 |
| PIMCO GLOBAL STOCKPLUS INCOM | [PGP](https://holderbook.com/stocks/PGP/) | $27.1K | 3,144 | 0.0% | 1 |
| AIRJOULE TECHNOLOGIES CORP | [AIRJW](https://holderbook.com/stocks/AIRJW/) | $19.9K | 15,307 | 0.0% | 9 |
| ABRDN EMERGING MARKETS EX CH | [AEF](https://holderbook.com/stocks/AEF/) | $19.6K | 2,046 | 0.0% | 31 |
| TEMPLETON DRAGON FD INC | [TDF](https://holderbook.com/stocks/TDF/) | $16.7K | 1,533 | 0.0% | 8 |
| TEMPLETON EMERGING MKTS FD | [EMF](https://holderbook.com/stocks/EMF/) | $15.1K | 649 | 0.0% | 4 |
| RICE ACQUISITION CORP 3 | [KRSPWS](https://holderbook.com/stocks/KRSPWS/) | $14.8K | 14,946 | 0.0% | 2 |
| TCW STRATEGIC INCOME FD INC | [TSI](https://holderbook.com/stocks/TSI/) | $14.7K | 3,258 | 0.0% | 31 |
| MORGAN STANLEY CHINA A SH FD | [CAF](https://holderbook.com/stocks/CAF/) | $14.4K | 684 | 0.0% | 1 |
| NUVEEN MULTI ASSET INCOME FU | [NMAI](https://holderbook.com/stocks/NMAI/) | $14.4K | 1,013 | 0.0% | 4 |
| MEXICO EQUITY & INCOME FD | [MXE](https://holderbook.com/stocks/MXE/) | $14.3K | 1,103 | 0.0% | 13 |
| SPARK I ACQUISITION CORP | [SPKLW](https://holderbook.com/stocks/SPKLW/) | $14.2K | 6,000 | 0.0% | 1 |

## What the disclosed book did

Not the fund's return. This is the change in value of the positions disclosed on Form 13F, had they been left untouched, against SPY over the same quarter ends.

| Quarter | Book | Market | Difference | Priced |
|---|---|---|---|---|
| Q2 2026 | -0.5% | +14.8% | -15.4% | 100% |
| Q1 2026 | -2.6% | -4.6% | +2.0% | 93% |
| Q4 2025 | -5.3% | +2.4% | -7.7% | 98% |
| Q3 2025 | +1.2% | +7.8% | -6.6% | 99% |
| Q2 2025 | +3.8% | +10.5% | -6.7% | 99% |
| Q1 2025 | -3.3% | -4.6% | +1.3% | 100% |
| Q4 2024 | +2.3% | +2.1% | +0.2% | 98% |
| Q3 2024 | +3.2% | +5.4% | -2.3% | 100% |

## Quarter by quarter

| Quarter | Value | Positions |
|---|---|---|
| Q2 2026 | $325.8M | 129 |
| Q1 2026 | $294.0M | 115 |
| Q4 2025 | $295.6M | 107 |
| Q3 2025 | $291.7M | 104 |
| Q2 2025 | $280.4M | 108 |
| Q1 2025 | $294.0M | 128 |
| Q4 2024 | $312.1M | 147 |
| Q3 2024 | $300.3M | 155 |
| Q2 2024 | $285.1M | 238 |
| Q1 2024 | $282.8M | 151 |
| Q4 2023 | $272.4M | 155 |
| Q3 2023 | $258.9M | 336 |