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Proc-Type: 2001,MIC-CLEAR
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<SEC-DOCUMENT>0001144204-05-013544.txt : 20050502
<SEC-HEADER>0001144204-05-013544.hdr.sgml : 20050502
<ACCEPTANCE-DATETIME>20050502132716
ACCESSION NUMBER:		0001144204-05-013544
CONFORMED SUBMISSION TYPE:	N-Q
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20050331
FILED AS OF DATE:		20050502
DATE AS OF CHANGE:		20050502
EFFECTIVENESS DATE:		20050502

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			HERZFELD CARIBBEAN BASIN FUND INC
		CENTRAL INDEX KEY:			0000880406
		IRS NUMBER:				650396889
		STATE OF INCORPORATION:			MD
		FISCAL YEAR END:			0630

	FILING VALUES:
		FORM TYPE:		N-Q
		SEC ACT:		1940 Act
		SEC FILE NUMBER:	811-06445
		FILM NUMBER:		05789495

	BUSINESS ADDRESS:	
		STREET 1:		P O BOX 161465
		CITY:			MIAMI
		STATE:			FL
		ZIP:			33116
		BUSINESS PHONE:		3052711900

	MAIL ADDRESS:	
		STREET 2:		PO BOX 161465
		CITY:			MIAMI
		STATE:			FL
		ZIP:			33116

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	FIRST CUBA FUND INC
		DATE OF NAME CHANGE:	19920929
</SEC-HEADER>
<DOCUMENT>
<TYPE>N-Q
<SEQUENCE>1
<FILENAME>v017334_n-q.txt
<TEXT>

                                    FORM N-Q
                   QUARTERLY SCHEDULE OF PORFOLIO HOLDINGS OF
                    REGISTERED MANAGEMENT INVESTMENT COMPANY

                  Investment Company Act file number 811-06445
                                   ----------

                     The Herzfeld Caribbean Basin Fund, Inc.
        ----------------------------------------------------------------
               (Exact name of registrant as specified in charter)

                      P.O. BOX 161465, MIAMI, FLORIDA 33116
        ----------------------------------------------------------------
               (Address of principal executive offices) (Zip code)

                               THOMAS J. HERZFELD
                        P.O. BOX 161465, MIAMI, FL 33116
        ----------------------------------------------------------------
                     (Name and address of agent for service)

        Registrant's telephone number, including area code: 305-271-1900
        ----------------------------------------------------------------

                        Date of fiscal year end: 06/30/05
        ----------------------------------------------------------------

                       Date of reporting period: 03/31/05
        ----------------------------------------------------------------
<PAGE>

ITEM 1. SCHEDULE OF INVESTMENTS

SCHEDULE OF INVESTMENTS AS OF MARCH 31, 2005 (unaudited)
================================================================================

Shares or Principal Amount          Description                     Market Value
- --------------------------------------------------------------------------------

Common stocks - 99.61% of net assets

Banking and finance - 4.42%
    7,000  Bancolombia, S.A.                                      $    93,520
   17,920  Banco Latinoamericano de Exportaciones, S.A.               366,285
    3,800  Grupo Financiero Banorte, S.A. de C.V. Series O             24,723
    9,000  Grupo Financiero Inbursa, S.A. de C.V. Series O             17,639

Communications - 11.81%
   11,400  America Movil, S.A. de C.V. Series A                        29,383
   44,600  America Movil, S.A. de C.V. Series L                       114,953
    2,000  America Movil ADR Series L                                 103,200
   11,700  America Telecom, S.A. de C.V. Series A1*                    32,815
    4,100  Atlantic Tele-Network, Inc.                                131,282
   11,600  Carso Global Telecom, S.A. de C.V. Series A1                18,790
    8,000  Garmin Ltd.                                                370,560
      725  Grupo Iusacell, S.A. de C.V. *                               1,285
   16,800  Grupo Radio Centro, S.A. ADR                               127,110
    4,500  Grupo Televisa, S.A. GDR                                   264,600
   12,500  Grupo Televisa, S.A. Series CPO                             36,782
      500  Telefonos de Mexico ADR                                     17,265
   11,400  Telefonos de Mexico, S.A. de C.V. Series A                  18,476
   39,300  Telefonos de Mexico, S.A. de C.V. Series L                  67,880
   13,900  TV Azteca, S.A. de C.V. Series CPO                           7,514

Conglomerates - 2.94%
    5,100  Alfa, S.A. de C.V. Series A                                 27,116
   39,400  Carlisle Holdings, Inc.*                                   261,238
    3,200  Corporacion Interamericana de Entretenimiento,
              S.A. de C.V. Series B*                                    6,529
    7,500  Desc, S.A. de C.V. Series B*                                 2,034
    3,400  Grupo Carso, S.A. de C.V. Series A1                         17,344
      300  Grupo Imsa, S.A. de C.V. Series UBC                            699
    3,300  U.S. Commercial Corp., S.A. de C.V.*                         1,217
    2,900  Vitro, S.A. Series A                                         2,408
    6,000  Vitro, S.A. ADR                                             15,000

Construction, housing and related - 10.33%
   10,642  Cemex, S.A. de C.V. Series CPO                              77,239
    1,936  Ceramica Carabobo Class A ADR*                               3,124
    4,100  Consorcio ARA, S.A. de C.V.*                                13,587
      700  Corporacion Geo S.A. de C.V. Series B                        1,513
      100  Desarrolladora Homex, S.A. de C.V.                             406

<PAGE>

   17,400  Empresas ICA, Sociedad Controladora, S.A. de C.V.*           6,696
      300  Grupo Cementos de Chihuahua, S.A. de C.V.                      597
   14,900  Florida Rock Industries, Inc.                              876,418
    1,665  Hylsamex S.A. CPO                                            5,548
   22,950  Mastec, Inc.*                                              188,420

Consumer products and related manufacturing - 7.13%
  800,000  Atlas Electricas, S.A.                                      32,867
    4,900  Grupo Casa Saba, S.A. ADR                                   82,075
   16,500  Watsco Incorporated                                        694,650

Food, beverages and tobacco - 1.68%
    4,800  Coca-Cola Femsa, S.A. de C.V. ADR                          116,016
      100  Coca-Cola Femsa, S.A. de C.V., Series L                        241
    6,000  Fomento Economico Mexicano, S.A. de C.V. Series UBD         32,164
      300  Gruma S.A. de C.V. Series B                                    679
    7,400  Grupo Bimbo, S.A. de C.V. Series A                          19,815
    7,500  Grupo Modelo, S.A. de C.V. Series C                         22,082

Investment companies - 8.00%
   13,904  The Latin American Discovery Fund, Inc.                    253,748
   24,745  The Latin America Equity Fund, Inc.                        529,543
    5,799  The Mexico Fund                                            125,374

Leisure - 9.00%
    5,500  Carnival Corp.                                             284,955
   16,500  Royal Caribbean Cruises Ltd.                               737,385

Medical - 3.23%
    7,159  CancerVax Corp.                                             47,178
    8,160  Orthofix International N.V.*                               319,464

Pulp and paper - 0.16%
    5,900  Kimberly-Clark de Mexico, S.A. de C.V. Series A             17,683

Railroad and landholdings - 18.88%
   50,500  Florida East Coast Industries, Inc.                      2,145,240

Retail - 0.78%
    3,700  Controladora Comercial Mexicana, S.A. de C.V.
             Series UBC                                                 3,778
    1,380  Grupo Elektra, S.A. de C.V. Series CPO                      11,052
   21,169  Wal-Mart de Mexico, S.A. de C.V. Series V                   74,264

Trucking and marine freight - 9.41%
   14,800  Grupo TMM, S.A. ADR*                                        45,288
      600  Seaboard Corporation                                       643,800
   39,600  Trailer Bridge, Inc.*                                      380,160

Utilities - 8.83%
   12,000  Caribbean Utilities Ltd. Class A                           137,400
   26,000  Consolidated Water, Inc.                                   865,800
<PAGE>

Other - 3.01%
      300  Grupo Aeroportuario del Sureste, S.A. de C.V. Series B         838
      200  Grupo Mexico, S.A. de C.V. Series B                          1,052
   41,337  Margo Caribe, Inc.*                                        322,470
      843  Siderurgica Venezolana Sivensa ADR                           1,865
       75  Siderurgica Venezolana Sivensa Series B                        166
   45,000  Xcelera, Inc.*                                              15,750

Total common stocks (cost $7,164,241)                             $11,316,037

Bonds - 0% of net assets
  165,000  Republic of Cuba - 4.5%, 1977 -
             in default (cost $63,038)*                                    --

Other assets less liabilities - 0.39% of net assets               $    44,669

Net assets - 100%  (applicable to 1,677,636 shares; equivalent
           to $6.77 per share) (a)                                $11,360,706

*Non-income producing

(a) The cost for federal income tax purposes was $7,227,279. At March 31, 2005,
net unrealized gain for all securities based on tax cost was $4,088,758. This
consisted of aggregate gross unrealized appreciation for all securities in which
there was an excess value over tax cost of $4,692,180 and aggregate gross
unrealized depreciation for all securities in which there was an excess of tax
cost over value of $603,422.

ITEM 2. CONTROLS AND PROCEDURES

            (a)   The registrant's principal executive and principal financial
                  officer have concluded that the registrant's disclosure
                  controls and procedures (as defined in Rule 30a-3(c) under the
                  Investment Company Act of 1940, as amended (the "1940 Act")
                  (17 CFR 270.30a-3(c))) are effective, as of a date within 90
                  days of the filing date of this Form N-Q that includes the
                  disclosure required by this paragraph based on their
                  evaluation of the controls and procedures required by Rule
                  30a-3(b) under the 1940 Act (17 CFR 270.30a-3(b)) and Rules
                  13a-15(b) or 15d-15(b) under the Securities Exchange Act of
                  1934 (17 CFR 240.13a-15(b) or 240.15d-15(b)).

            (b)   There were no changes in the registrant's internal control
                  over financial reporting (as defined in Rule 30a-3(d) under
                  the 1940 Act (17 CFR 270.30a-3(d)) that occurred during the
                  registrant's last fiscal quarter that has materially affected,
                  or is reasonably likely to materially affect, the registrant's
                  internal control over financial reporting.

ITEM 3. EXHIBITS

The certification required by Rule 30a-2 of the Investment Company Act of 1940,
as amended, is attached as an exhibit to this filing.
<PAGE>

                                   SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934 and the
Investment Company Act of 1940, the registrant has duly caused this report to be
signed on its behalf by the undersigned, thereunto duly authorized.

The Herzfeld Caribbean Basin Fund, Inc.


By /s/ Thomas J. Herzfeld

Thomas J. Herzfeld
Chairman and President

Date: April 27, 2005

Pursuant to the requirements of the Securities Exchange Act of 1934 and the
Investment Company Act of 1940, this report has been signed below by the
following persons on behalf of the registrant and in the capacities and on the
dates indicated.


By /s/Thomas J. Herzfeld

Thomas J. Herzfeld
Chairman and President

Date: April 27, 2005


By /s/Cecilia L. Gondor

Cecilia L. Gondor
Treasurer

Date: April 27, 2005
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.CERT
<SEQUENCE>2
<FILENAME>v017334_ex99-cert.txt
<TEXT>
                                               Rule 30a-2(a) CERTIFICATIONS

I, Thomas J. Herzfeld, certify that:

1.    I have reviewed this report on Form N-Q of The Herzfeld Caribbean Basin
      Fund, Inc.,

2.    Based on my knowledge, this report does not contain any untrue statement
      of a material fact or omit to state a material fact necessary to make the
      statements made, in light of the circumstances under which such statements
      were made, not misleading with respect to the period covered by this
      report;

3.    Based on my knowledge, the schedules of investments included in this
      report fairly present in all material respects the investments of the
      registrant as of the end of the fiscal quarter for which the report is
      filed;

4.    The registrant's other certifying officer(s) and I are responsible for
      establishing and maintaining disclosure controls and procedures (as
      defined in Rule 30a-3(c) under the Investment Company Act of 1940) for the
      registrant and have:

            (a)   Designed such disclosure controls and procedures, or caused
                  such disclosure controls and procedures to be designed under
                  our supervision, to ensure that material information relating
                  to the registrant, including its consolidated subsidiaries, is
                  made known to us by others within those entities, particularly
                  during the period in which this report is being prepared;

            (b)   omitted;

            (c)   Evaluated the effectiveness of the registrant's disclosure
                  controls and procedures and presented in this report our
                  conclusions about the effectiveness of the disclosure controls
                  and procedures, as of a date within 90 days prior to the
                  filing date of this report, based on such evaluation; and

            (d)   Disclosed in this report any change in the registrant's
                  internal control over financial reporting that occurred during
                  the registrant's most recent fiscal quarter that has
                  materially affected, or is reasonably likely to materially
                  affect, the registrant's internal control over financial
                  reporting; and

5.    The registrant's other certifying officer(s) and I have disclosed to the
      registrant's auditors and the audit committee of the registrant's board of
      directors (or persons performing the equivalent functions) :

            (a)   All significant deficiencies and material weaknesses in the
                  design or operation of internal control over financial
                  reporting which are reasonably likely to adversely affect the
                  registrant's ability to record, process, summarize, and report
                  financial information; and

            (b)   Any fraud, whether or not material, that involves management
                  or other employees who have a significant role in the
                  registrant's internal control over financial reporting.

Date: April 27, 2005


/s/ Thomas J. Herzfeld

Chairman and President
The Herzfeld Caribbean Basin Fund, Inc.

<PAGE>

I, Cecilia L. Gondor, certify that:

1.    I have reviewed this report on Form N-Q of The Herzfeld Caribbean Basin
      Fund, Inc.,

2.    Based on my knowledge, this report does not contain any untrue statement
      of a material fact or omit to state a material fact necessary to make the
      statements made, in light of the circumstances under which such statements
      were made, not misleading with respect to the period covered by this
      report;

3.    Based on my knowledge, the schedules of investments included in this
      report fairly present in all material respects the investments of the
      registrant as of the end of the fiscal quarter for which the report is
      filed;

4.    The registrant's other certifying officer(s) and I are responsible for
      establishing and maintaining disclosure controls and procedures (as
      defined in Rule 30a-3(c) under the Investment Company Act of 1940) for the
      registrant and have:

            (a)   Designed such disclosure controls and procedures, or caused
                  such disclosure controls and procedures to be designed under
                  our supervision, to ensure that material information relating
                  to the registrant, including its consolidated subsidiaries, is
                  made known to us by others within those entities, particularly
                  during the period in which this report is being prepared;

            (b)   omitted;

            (c)   Evaluated the effectiveness of the registrant's disclosure
                  controls and procedures and presented in this report our
                  conclusions about the effectiveness of the disclosure controls
                  and procedures, as of a date within 90 days prior to the
                  filing date of this report, based on such evaluation; and

            (d)   Disclosed in this report any change in the registrant's
                  internal control over financial reporting that occurred during
                  the registrant's most recent fiscal quarter that has
                  materially affected, or is reasonably likely to materially
                  affect, the registrant's internal control over financial
                  reporting; and

5.    The registrant's other certifying officer(s) and I have disclosed to the
      registrant's auditors and the audit committee of the registrant's board of
      directors (or persons performing the equivalent functions) :

            (a)   All significant deficiencies and material weaknesses in the
                  design or operation of internal control over financial
                  reporting which are reasonably likely to adversely affect the
                  registrant's ability to record, process, summarize, and report
                  financial information; and

            (b)   Any fraud, whether or not material, that involves management
                  or other employees who have a significant role in the
                  registrant's internal control over financial reporting.

Date: April 27, 2005


/s/ Cecilia L. Gondor

Treasurer
The Herzfeld Caribbean Basin Fund, Inc.
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
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