NPORT-EX 2 herzfeldnport.htm SOI

Herzfeld Caribbean Basin Fund, Inc.

Schedule of Investments as of September 30, 2022 (unaudited)

 

 

Shares or Principal Amount   Description Fair Value


Common Stocks – 99.95% of net assets

Aerospace and Defense – 6.07%

99,206  Aersale Corp.* $1,839,279

 

Airlines – 4.48%

20,250 Copa Holdings, S.A.* 1,356,953

 

Banking and finance – 19.04%

20,280 Bancolombia, S.A. 494,224
52,089 Banco Latinoamericano de Comercio Exterior, S.A. 680,282
16,956 Evertec, Inc. 531,571
160,604 First BanCorp. (Puerto Rico) 2,197,063
25,899 Popular, Inc. 1,866,282

 

Communications – 1.57%

10,698 América Móvil, S.A.B. de C.V. Series L ADR 176,196
209,144 América Móvil, S.A.B. de C.V. 172,292
479,175 Fuego Enterprises, Inc.*1 20,652
207,034 Grupo Radio Centro S.A.B. de C.V.* 35,879
  21,155 Sitios LatinoAmerica S.A.B. de C.V. 9,633
32,272 Spanish Broadcasting System, Inc.* 32,595
33,226 Telesites S.A.B. Series B-1 27,817

 

Construction and related – 20.49%

180,645 Cemex, S.A.B. de C.V. ADR* 619,612
20 Ceramica Carabobo Class A ADR*1 --
4,000 Martin Marietta Materials, Inc. 1,288,360
29,868 MasTec, Inc.* 1,896,618
  77,117 PGT Innovations, Inc.* 1,616,372
5,000 Vulcan Materials Company 788,550
 
 

 

 

Shares or Principal Amount   Description Fair Value

 

Food, beverages and tobacco – 6.04%

503,164 Becle, S.A.B. de C.V.    887,723
18,900 Fomento Económico Mexicano, S.A.B. de C.V. Series UBD    118,551
13,110 Fomento Económico Mexicano, S.A.B. de C.V. ADR       822,653
     

 

Housing – 3.07%

12,500 Lennar Corporation    931,875

 

Investment companies - 0.05%

70,000 Waterloo Investment Holdings Ltd.*1    15,680

 

Leisure - 12.87%

17,559 Carnival Corporation*    123,440
6,745 Marriott Vacations Worldwide Corporation    821,946
116,578 Norwegian Cruise Line Holdings Ltd*    1,324,326
98,605 Playa Hotels and Resorts N.V.*    573,881
27,863 Royal Caribbean Cruises Ltd*    1,056,008

  

Mining- 0.04%

3,872 Grupo México, S.A.B. de C.V. Series B    13,078

Retail- 2.65%

1,270 Grupo Elektra, S.A.B. de C.V. Series CPO    64,574
210,222 Wal-Mart de México, S.A.B. de C.V. Series V    738,337

Transportation Infrastructure- 3.35%

5,175 Grupo Aeroportuario ADR*    1,015,180

 

Trucking and marine freight- 1.54%

137 Seaboard Corporation 466,164

 
 

 

 

Shares or Principal Amount   Description Fair Value

 

Utilities- 17.40%

23,200 Caribbean Utilities Ltd. Class A    $365,168

37,092 Consolidated Water Company Ltd.    570,475

700 Cuban Electric Company*1    --
19,854 NextEra Energy, Inc    1,556,752
63,602 New Fortress Energy, Inc., Class A    2,780,043

 

Other- 1.29%

55,921 Margo Caribe, Inc.*    391,447

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

 

Total common stocks (cost $24,329,311)   30,287,531 

 

Bonds- 0.00% of net assets

$165,000 Republic of Cuba - 4.5%, 1977 - in default*   --

 

Total bonds (cost $63,038)     -- 

 

Money Market Funds- 0.15%

46,510 Federated Hermes Government Obligations Fund,
Institutional Class, 2.81%2		 46,510

 

Total money market funds (cost $46,510)   46,510 

 

 

 

Total investments (cost $24,438,859) - 100.10% of net assets   30,334,041 

 

 

Liabilities in excess of other assets – (0.10)% of net assets   (30,296) 

 

Net assets - 100%   30,303,745 

 

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

Board of Directors. Fair valued securities comprised 0.12% of net assets.

2 Rate disclosed is the seven day effective yield as of September 30, 2022.

 

* Non-income producing