Data as of Q4 2025 (Dec 31, 2025)

Thomas J. Herzfeld Advisors, Inc.

•CIK: 1509510•Filing: Q4 2025

**Thomas J. Herzfeld Advisors, Inc.** manages $296M across a portfolio of 107 positions. The firm maintains significant exposure to key names, highlighted by a $29.0M holding in FSSL and a $24.5M position in PDX. Further concentration includes substantial allocations to HFRO ($14.7M), SABA ($13.1M), and UBS ($13.0M). This structure suggests a focused, actively managed approach targeting specific sector opportunities.

Total AUM
$295.6M
QoQ Performance
+1.3%
Positions
107
Top 10 Concentration
52.5%
Latest Filing
Q4 2025

Top Holdings Allocation

FSSL
PDX
FSSL9.8%
PDX8.3%
HFRO5.0%
SABA4.4%
HERZFELD4.4%
BRW4.4%
BPRE4.3%
FSCO4.0%

📈 Biggest Buys

FSSL
FS SPECIALTY LENDING FD
NEW
9.8% of portfolio
BPRE
BLUEROCK PVT REAL ESTATE FD
NEW
4.3% of portfolio
GOF
GUGGENHEIM STRATEGIC OPPORTU
NEW
4.0% of portfolio
FSCO
FS CREDIT OPPORTUNITIES CORP
+97.2%
4.0% of portfolio
BRW
SABA CAPITAL INCOME & OPRNT
+56.1%
4.4% of portfolio

📉 Biggest Sells

TFLO
ISHARES TR
-95.8%
0.1% of portfolio
PDX
PIMCO DYNAMIC INCOME STRATEG
-16.8%
8.3% of portfolio
JFR
NUVEEN FLOATING RATE INCOME
-31.9%
2.3% of portfolio
—
ASA GOLD AND PRECIOUS MTLS L
-25.6%
2.7% of portfolio
LDP
COHEN & STEERS LTD DURATION
-43.9%
0.9% of portfolio

Sector Breakdown

Other99.9%
ETF0.1%
Communication0.0%
Technology0.0%

🚪 Exited Positionssold since Q3 2025

PAAA
PGIM ETF TR
SOLD
$10.6M
PFIX
Simplify Exchange Traded Fun
SOLD
$9.2M
XFFCX
Flaherty & Crumrine Pfd Secs
SOLD
$6.5M
NPFD
Nuveen Vriabl Rat Pfd & Inm
SOLD
$5.2M
KYN
Kayne Anderson Energy Infrst
SOLD
$4.0M
+10 more exited positions

Changes from Q3 2025

NEW18 new positions
↑47 increased
↓21 decreased

Historical Filings

Q4 2025Q3 2025Q2 2025Q1 2025Q4 2024Q3 2024Q2 2024Q1 2024Q4 2023

📌 Top Holdings

FSSL9.8%
FS SPECIALTY LENDING FD
$29.0M
PDX8.3%
PIMCO DYNAMIC INCOME STRATEG
$24.5M
HFRO5.0%
HIGHLAND OPPS & INCOME FD
$14.7M
SABA4.4%
SABA CAPITAL INCOME & OPPORT
$13.1M
BRW4.4%
SABA CAPITAL INCOME & OPRNT
$12.9M

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