Thomas J. Herzfeld Advisors, Inc.
Net buyer this quarter
$326M
124
+$66.2M
49.8%
Holdings
| Company | Value | % of portfolio | % of company | POSITION CHANGE qoq % | First reported |
|---|---|---|---|---|---|
| Q2 2026 | |||||
 FSSL | $32.3M | 9.93% | Not reported | +3.3% | Q4 2025 |
 PDX | $22.8M | 7.00% | Not reported | -12.6% | Q4 2020 |
 FSCO | $19.6M | 6.01% | Not reported | +6.6% | Q1 2023 |
 HFRO | $19.1M | 5.86% | Not reported | -1.4% | Q1 2018 |
 GOF | $14.6M | 4.48% | Not reported | +31.6% | Q4 2025 |
 HERZ | $14.1M | 4.32% | Not reported | +1.3% | Q2 2013 |
 PSUS | $10.7M | 3.28% | Not reported | New | Q2 2026 |
 BRW | $10.1M | 3.12% | Not reported | +9.0% | Q2 2021 |
 NSLR | $9.89M | 3.03% | 2.98% | +2324.5% | Q2 2020 |
 EIC | $9.03M | 2.77% | Not reported | +127.7% | Q2 2021 |
 JFR | $8.53M | 2.62% | Not reported | +55.9% | Q2 2014 |
 SABA | $7.44M | 2.29% | Not reported | +15.1% | Q3 2023 |
 STK | $6.96M | 2.14% | Not reported | +95.0% | Q4 2013 |
 PDI | $6.49M | 1.99% | Not reported | +151.0% | Q2 2013 |
 DPG | $5.35M | 1.64% | Not reported | -7.9% | Q2 2013 |
 BSTZ | $4.99M | 1.53% | Not reported | +100.8% | Q2 2020 |
 RA | $4.75M | 1.46% | Not reported | +8.4% | Q4 2016 |
 BTX | $4.65M | 1.43% | Not reported | +83.6% | Q4 2021 |
 TWN | $4.57M | 1.40% | Not reported | +14.5% | Q2 2013 |
 PAXS | $4.54M | 1.39% | Not reported | -29.1% | Q1 2024 |
 TYG | $4.3M | 1.32% | Not reported | Not reported | Q2 2014 |
 BPRE | $3.95M | 1.21% | Not reported | -16.3% | Q4 2025 |
 KYN | $3.82M | 1.17% | Not reported | +17.9% | Q4 2016 |
 KF | $3.75M | 1.15% | Not reported | +13014.2% | Q2 2013 |
 EMO | $3.66M | 1.12% | Not reported | +23.9% | Q3 2015 |
 NML | $3.58M | 1.10% | Not reported | +9.0% | Q1 2014 |
| BGR | $3.53M | 1.08% | Not reported | +31.5% | Q2 2013 |
 XFLT | $3.49M | 1.07% | Not reported | +233.7% | Q4 2024 |
| ASA | $3.47M | 1.07% | Not reported | -47.0% | Q2 2013 |
| NXG | $3.45M | 1.06% | Not reported | Not reported | Q3 2022 |
 CHY | $3.35M | 1.03% | Not reported | New | Q2 2026 |
 RFMZ | $3.32M | 1.02% | Not reported | +6.1% | Q4 2022 |
| NCZ | $3.27M | 1.00% | Not reported | New | Q2 2026 |
| NCV | $3.27M | 1.00% | Not reported | Not reported | Q4 2025 |
| PTY | $3.04M | 0.93% | Not reported | +1.0% | Q4 2025 |
 LDP | $2.91M | 0.89% | Not reported | +32.7% | Q1 2015 |
 FINS | $2.85M | 0.87% | Not reported | +15.0% | Q3 2021 |
| BCX | $2.7M | 0.83% | Not reported | +10.1% | Q2 2013 |
 GHY | $2.61M | 0.80% | Not reported | Not reported | Q2 2018 |
| BTZ | $2.51M | 0.77% | Not reported | Not reported | Q2 2013 |
| SDHY | $2.26M | 0.70% | Not reported | +21.7% | Q4 2024 |
 GAM | $2.04M | 0.62% | Not reported | -2.2% | Q2 2013 |
 MEGI | $1.97M | 0.60% | Not reported | -0.8% | Q1 2025 |
 MFM | $1.94M | 0.60% | Not reported | +458.6% | Q3 2015 |
 BGX | $1.93M | 0.59% | Not reported | +50.3% | Q2 2020 |
 ARDC | $1.9M | 0.58% | Not reported | Not reported | Q3 2015 |
 TBLD | $1.78M | 0.55% | Not reported | +15.8% | Q4 2021 |
| PCQ | $1.66M | 0.51% | Not reported | +134.1% | Q3 2025 |
| PNI | $1.64M | 0.50% | Not reported | +208.0% | Q3 2018 |
| BTT | $1.29M | 0.40% | Not reported | +15.4% | Q4 2013 |
| Q1 2026 | |||||
| FSSL | $35.1M | 11.95% | Not reported | +37.0% | Q4 2025 |
| PDX | $27.6M | 9.40% | Not reported | -4.0% | Q4 2020 |
| FSCO | $18.8M | 6.38% | Not reported | +93.7% | Q1 2023 |
| HFRO | $15.5M | 5.27% | Not reported | +10.5% | Q1 2018 |
| HERZ | $12.5M | 4.26% | Not reported | +38.2% | Q2 2013 |
| GOF | $11.2M | 3.81% | Not reported | +9.5% | Q4 2025 |
| BRW | $9.55M | 3.25% | Not reported | -22.8% | Q2 2021 |
| PROC | $8.17M | 2.78% | 0.10% | New | Q1 2026 |
| ASA | $7.81M | 2.66% | Not reported | -6.3% | Q2 2013 |
| SABA | $6.44M | 2.19% | Not reported | -51.3% | Q3 2023 |
| PAXS | $6.34M | 2.16% | Not reported | -41.2% | Q1 2024 |
| BPRE | $6.02M | 2.05% | Not reported | -57.6% | Q4 2025 |
| DPG | $5.65M | 1.92% | Not reported | -16.6% | Q2 2013 |
| JFR | $5.36M | 1.82% | Not reported | -18.7% | Q2 2014 |
| RA | $4.38M | 1.49% | Not reported | -55.9% | Q4 2016 |
| EIC | $3.72M | 1.26% | Not reported | +26.8% | Q2 2021 |
| NML | $3.4M | 1.16% | Not reported | Not reported | Q1 2014 |
| KYN | $3.34M | 1.14% | Not reported | Not reported | Q4 2016 |
| BGR | $3.14M | 1.07% | Not reported | Not reported | Q2 2013 |
| EMO | $3.12M | 1.06% | Not reported | +5709.4% | Q3 2015 |
| PTY | $3.01M | 1.03% | Not reported | +347.8% | Q4 2025 |
| RFMZ | $2.9M | 0.99% | Not reported | -28.1% | Q4 2022 |
| TWN | $2.73M | 0.93% | Not reported | -49.8% | Q2 2013 |
| PDI | $2.65M | 0.90% | Not reported | +1.3% | Q2 2013 |
| BCX | $2.61M | 0.89% | Not reported | Not reported | Q2 2013 |
| STK | $2.51M | 0.85% | Not reported | +1035.1% | Q4 2013 |
| FINS | $2.47M | 0.84% | Not reported | -10.7% | Q3 2021 |
| SPXX | $2.4M | 0.81% | Not reported | Not reported | Q2 2013 |
 DXYZ | $2.22M | 0.75% | Not reported | New | Q1 2026 |
 OXLC | $2.18M | 0.74% | Not reported | -44.3% | Q1 2017 |
| LDP | $2.07M | 0.70% | Not reported | -16.3% | Q1 2015 |
| MEGI | $1.92M | 0.65% | Not reported | +15.2% | Q1 2025 |
| GAM | $1.91M | 0.65% | Not reported | +26239.5% | Q2 2013 |
| BTX | $1.85M | 0.63% | Not reported | -48.3% | Q4 2021 |
 STEW | $1.84M | 0.63% | Not reported | -71.8% | Q2 2013 |
| BSTZ | $1.83M | 0.62% | Not reported | -61.6% | Q2 2020 |
| SDHY | $1.82M | 0.62% | Not reported | -65.6% | Q4 2024 |
 CET | $1.81M | 0.62% | Not reported | -33.1% | Q2 2013 |
| TBLD | $1.47M | 0.50% | Not reported | -70.0% | Q4 2021 |
 GDV | $1.38M | 0.47% | Not reported | -24.7% | Q2 2013 |
| JLS | $1.32M | 0.45% | Not reported | -10.0% | Q2 2020 |
| BGX | $1.28M | 0.44% | Not reported | -49.4% | Q2 2020 |
| DMO | $1.24M | 0.42% | Not reported | -5.7% | Q1 2020 |
 MSD | $1.21M | 0.41% | Not reported | -46.6% | Q2 2013 |
| BTT | $1.11M | 0.38% | Not reported | -1.3% | Q4 2013 |
| XFLT | $1.02M | 0.35% | Not reported | -53.3% | Q4 2024 |
 DSM | $991K | 0.34% | Not reported | -51.7% | Q4 2023 |
| PDO | $863K | 0.29% | Not reported | -80.7% | Q1 2025 |
| EDD | $692K | 0.24% | Not reported | +11426.1% | Q2 2013 |
| PCQ | $680K | 0.23% | Not reported | -64.2% | Q3 2025 |
| Q4 2025 | |||||
| FSSL | $29M | 9.81% | Not reported | New | Q4 2025 |
| PDX | $24.5M | 8.30% | Not reported | -16.8% | Q4 2020 |
| HFRO | $14.7M | 4.97% | Not reported | -12.1% | Q1 2018 |
| SABA | $13.1M | 4.44% | Not reported | -11.0% | Q3 2023 |
| HERZ | $13M | 4.39% | Not reported | -4.2% | Q2 2013 |
| BRW | $12.9M | 4.35% | Not reported | +56.1% | Q2 2021 |
| BPRE | $12.8M | 4.34% | Not reported | New | Q4 2025 |
| FSCO | $12M | 4.05% | Not reported | +97.2% | Q1 2023 |
| GOF | $11.9M | 4.04% | Not reported | New | Q4 2025 |
| PAXS | $11.4M | 3.87% | Not reported | +55.4% | Q1 2024 |
| RA | $10M | 3.39% | Not reported | +6.6% | Q4 2016 |
| ASA | $8.02M | 2.71% | Not reported | -25.6% | Q2 2013 |
| STEW | $7.08M | 2.40% | Not reported | +1.7% | Q2 2013 |
| JFR | $6.87M | 2.32% | Not reported | -31.9% | Q2 2014 |
| DPG | $5.97M | 2.02% | Not reported | +11.5% | Q2 2013 |
| NBXG | $5.95M | 2.01% | Not reported | +4.6% | Q4 2021 |
| OXLC | $5.85M | 1.98% | Not reported | +75.3% | Q1 2017 |
| SDHY | $5.43M | 1.84% | Not reported | +2.7% | Q4 2024 |
| BSTZ | $4.87M | 1.65% | Not reported | +2.6% | Q2 2020 |
| PDO | $4.78M | 1.62% | Not reported | +8.6% | Q1 2025 |
| TBLD | $4.66M | 1.58% | Not reported | +1.7% | Q4 2021 |
| TWN | $4.41M | 1.49% | Not reported | -2.3% | Q2 2013 |
| RFMZ | $4.04M | 1.37% | Not reported | +6.3% | Q4 2022 |
| BTX | $3.58M | 1.21% | Not reported | Not reported | Q4 2021 |
| EIC | $3.55M | 1.20% | Not reported | Not reported | Q2 2021 |
| XFLT | $3.06M | 1.04% | Not reported | Not reported | Q4 2024 |
| FINS | $2.86M | 0.97% | Not reported | +4.3% | Q3 2021 |
| DIAX | $2.8M | 0.95% | Not reported | +1.2% | Q4 2016 |
| CET | $2.77M | 0.94% | Not reported | +4.5% | Q2 2013 |
| BGX | $2.72M | 0.92% | Not reported | +46.4% | Q2 2020 |
| PDI | $2.71M | 0.92% | Not reported | Not reported | Q2 2013 |
| JQC | $2.67M | 0.90% | Not reported | -22.4% | Q2 2014 |
| NCV | $2.64M | 0.89% | Not reported | New | Q4 2025 |
| LDP | $2.63M | 0.89% | Not reported | -43.9% | Q1 2015 |
| MSD | $2.39M | 0.81% | Not reported | Not reported | Q2 2013 |
| DSM | $2.1M | 0.71% | Not reported | +0.7% | Q4 2023 |
| PCQ | $1.93M | 0.65% | Not reported | +1.1% | Q3 2025 |
| GDV | $1.89M | 0.64% | Not reported | -28.4% | Q2 2013 |
| MEGI | $1.56M | 0.53% | Not reported | -33.7% | Q1 2025 |
| JLS | $1.47M | 0.50% | Not reported | -17.1% | Q2 2020 |
 MMD | $1.45M | 0.49% | Not reported | +0.8% | Q4 2015 |
| DMO | $1.35M | 0.46% | Not reported | -11.4% | Q1 2020 |
| BTT | $1.13M | 0.38% | Not reported | +0.8% | Q4 2013 |
 CCIF | $943K | 0.32% | Not reported | +497.1% | Q3 2019 |
| MFM | $746K | 0.25% | Not reported | +1.5% | Q3 2015 |
| PTY | $720K | 0.24% | Not reported | New | Q4 2025 |
| ECC | $718K | 0.24% | Not reported | Not reported | Q2 2017 |
| GNT | $674K | 0.23% | Not reported | -61.6% | Q3 2025 |
 LEO | $600K | 0.20% | Not reported | +0.7% | Q3 2024 |
 GLD | $554K | 0.19% | 0.00% | Not reported | Q4 2020 |
| Q3 2025 | |||||
| PDX | $39.1M | 13.42% | Not reported | -1.0% | Q4 2020 |
| HFRO | $17.8M | 6.09% | Not reported | +7.6% | Q1 2018 |
| SABA | $16.3M | 5.59% | Not reported | +2.1% | Q3 2023 |
| HERZ | $14.5M | 4.98% | Not reported | -6.2% | Q2 2013 |
| JFR | $10.5M | 3.61% | Not reported | -3.3% | Q2 2014 |
| RA | $9.68M | 3.32% | Not reported | +0.6% | Q4 2016 |
| BRW | $9.13M | 3.13% | Not reported | +163.2% | Q2 2021 |
| ASA | $8.27M | 2.84% | Not reported | +1455.3% | Q2 2013 |
| PAXS | $7.83M | 2.69% | Not reported | +10.6% | Q1 2024 |
| STEW | $6.82M | 2.34% | Not reported | +15.3% | Q2 2013 |
| FSCO | $6.66M | 2.28% | Not reported | -70.1% | Q1 2023 |
 FFC | $6.47M | 2.22% | Not reported | -0.9% | Q4 2018 |
| NBXG | $6.06M | 2.08% | Not reported | +25.2% | Q4 2021 |
| DPG | $5.43M | 1.86% | Not reported | +32.3% | Q2 2013 |
| SDHY | $5.37M | 1.84% | Not reported | +85.2% | Q4 2024 |
| NPFD | $5.22M | 1.79% | Not reported | -15.0% | Q4 2023 |
| LDP | $4.79M | 1.64% | Not reported | +10.1% | Q1 2015 |
| BSTZ | $4.65M | 1.59% | Not reported | +15.7% | Q2 2020 |
| TWN | $4.58M | 1.57% | Not reported | +34.0% | Q2 2013 |
| TBLD | $4.53M | 1.55% | Not reported | +6.2% | Q4 2021 |
| PDO | $4.49M | 1.54% | Not reported | Not reported | Q1 2025 |
| KYN | $3.97M | 1.36% | Not reported | +9.7% | Q4 2016 |
| RFMZ | $3.92M | 1.34% | Not reported | -0.8% | Q4 2022 |
| OXLC | $3.86M | 1.32% | Not reported | Not reported | Q1 2017 |
| JQC | $3.61M | 1.24% | Not reported | +1.2% | Q2 2014 |
| FINS | $2.72M | 0.93% | Not reported | +2.0% | Q3 2021 |
| DIAX | $2.69M | 0.92% | Not reported | -25.9% | Q4 2016 |
| CET | $2.68M | 0.92% | Not reported | -0.8% | Q2 2013 |
| GDV | $2.58M | 0.88% | Not reported | +40732.6% | Q2 2013 |
| MEGI | $2.51M | 0.86% | Not reported | +1097.2% | Q1 2025 |
| PFN | $2.43M | 0.83% | Not reported | +3.5% | Q3 2014 |
| TYG | $2.29M | 0.78% | Not reported | -47.0% | Q2 2014 |
| DSM | $2M | 0.69% | Not reported | -7.5% | Q4 2023 |
| BGX | $1.91M | 0.65% | Not reported | +5781.8% | Q2 2020 |
| PCQ | $1.91M | 0.65% | Not reported | New | Q3 2025 |
| JLS | $1.82M | 0.62% | Not reported | 0.0% | Q2 2020 |
| HQL | $1.81M | 0.62% | Not reported | Not reported | Q3 2014 |
| HQH | $1.75M | 0.60% | Not reported | Not reported | Q3 2014 |
| GNT | $1.65M | 0.57% | Not reported | New | Q3 2025 |
| DMO | $1.61M | 0.55% | Not reported | -1.7% | Q1 2020 |
| MMD | $1.46M | 0.50% | Not reported | 0.0% | Q4 2015 |
| BTT | $1.11M | 0.38% | Not reported | +36.8% | Q4 2013 |
| MFM | $730K | 0.25% | Not reported | -68.6% | Q3 2015 |
| LEO | $585K | 0.20% | Not reported | +6.6% | Q3 2024 |
| GLD | $497K | 0.17% | 0.00% | Not reported | Q4 2020 |
| VFL | $271K | 0.09% | Not reported | -34.1% | Q2 2013 |
| SPY | $260K | 0.09% | Not reported | Not reported | Q4 2018 |
| DMB | $250K | 0.09% | Not reported | Not reported | Q2 2025 |
| CCIF | $196K | 0.07% | Not reported | Not reported | Q3 2019 |
 QQQ | $162K | 0.06% | Not reported | Not reported | Q4 2018 |