NPORT-EX 2 herzfeld_nport.htm HERZFELD

Herzfeld Caribbean Basin Fund, Inc.

Schedule of Investments as of March 31, 2022 (unaudited)

 
 
Shares or Principal Amount Description Fair Value

Common Stocks – 99.32% of net assets

Aerospace and Defense – 4.05%

    96,418 Aersale Corp.* $1,515,691

 

Airlines – 4.52%

    20,250 Copa Holdings, S.A.* $1,693,710

 

Banking and finance – 20.07%

20,280 Bancolombia, S.A. 865,145
52,089 Banco Latinoamericano de Comercio Exterior, S.A. 811,547
16,956 Evertec, Inc. 694,009
200,211 First BanCorp. (Puerto Rico) 2,626,768
30,814 Popular, Inc. 2,518,736

 

Communications – 1.70%

  10,698 América Móvil, S.A.B. de C.V. Series L ADR 226,263
209,144 América Móvil, S.A.B. de C.V. 221,542
   479,175 Fuego Enterprises, Inc.* 14,375
     207,034 Grupo Radio Centro S.A.B. de C.V.* 23,107
     32,272 Spanish Broadcasting System, Inc.* 107,788
     33,226 Telesites S.A.B. Series B-1 42,345

 


Construction and related – 23.54%

  220,645 Cemex, S.A.B. de C.V. ADR* 1,167,212
20 Ceramica Carabobo Class A ADR* –
         4,000 Martin Marietta Material 1,539,560
       43,686 MasTec, Inc.* 3,805,051
     77,117 PGT Innovations, Inc.* 1,386,564
       5,000 Vulcan Materials 918,500
 
 

Herzfeld Caribbean Basin Fund, Inc.

Schedule of Investments as of March 31, 2022 (continued)

 
 
Shares or Principal Amount Description Fair Value

 

Food, beverages and tobacco – 6.61%

  503,164 Becle, S.A.B. de C.V. 1,232,936
18,900 Fomento Económico Mexicano, S.A.B. de C.V. Series UBD 156,913
13,110 Fomento Económico Mexicano, S.A.B. de C.V. ADR 1,086,164
     

 

Housing – 2.71%

  12,500 Lennar Corporation 1,014,625


Investment companies – 0.00%

  70,000 Waterloo Investment Holdings Ltd.*1

–


Leisure – 13.52%

17,559

 Carnival Corporation*

355,043

  6,745 Marriott Vacations Worldwide Corporation 1,063,686
91,717 Norwegian Cruise Line Holdings Ltd.* 2,006,768
19,570 Royal Caribbean Cruises Ltd.* 1,639,575

Mining – 0.06%

3,872 Grupo México, S.A.B. de C.V. Series B

23,116


Retail – 2.52%

   1,270 Grupo Elektra, S.A.B. de C.V. Series CPO

82,271

210,222 Wal-Mart de México, S.A.B. de C.V. Series V

861,459


Transportation Infrastructure – 3.48%

    1,270 Grupo Aeroportuario ADR*

1,301,900


Trucking and marine freight – 1.54%

    137 Seaboard Corporation

576,152


 
 
 

Shares or Principal Amount Description Fair Value
 

Utilities – 13.66%

23,200

 Caribbean Utilities Ltd. Class A

$ 345,680

44,092 Consolidated Water Company Ltd. 487,657
     700 Cuban Electric Company*1 –
26,976 NextEra Energy, Inc. 2,285,137
46,911 New Fortress Energy, Inc., Class A 1,998,878

Other – 1.34%

 55,921

 Margo Caribe, Inc.*

503,289

       79

 Siderurgica Venezolana Sivensa, S.A. Series B*1

–

Total common stocks (cost $23,612,483)   37,199,162

Bonds – 0.00% of net assets

 $16,500

 Republic of Cuba - 4.5%, 1977 - in default*1

–

Total bonds (cost $63,038)   –

Money Market Securities – 0.16%

 60,991

 Federated Hermes Government Obligations Fund, Institutional Class, 0.14%2

60,991

Total Money Market Securities   60,991

Total investments (cost $23,736,512) – 99.48% of net assets   $ 37,260,153

Other assets in excess of liabilities – 0.52% of net assets   195,987

Net assets - 100%   $ 37,456,140

1 Securities have been fair valued in good faith using fair value methodology approved by the

Board of Directors. Fair valued securities comprised 0.00% of net assets

2 Rate disclosed is the seven day effective yield as of March 31, 2022.

 

* Non-income producing