NPORT-EX 2 herzfeld_nport.htm SOI

Herzfeld Caribbean Basin Fund, Inc.

Schedule of Investments as of March 31, 2023 (unaudited)

 

 

Shares or Principal Amount Description Fair Value
 
Common Stocks – 99.59% of net assets
 
Aerospace and Defense – 5.33%
99,206 Aersale Corp.* $1,708,327
 
Airlines – 3.81%
13,250 Copa Holdings, S.A.* 1,223,638
 
Banking and finance – 15.68%
42,089 Banco Latinoamericano de Comercio Exterior, S.A. 731,507
16,956 Evertec, Inc. 572,265
160,604 First BanCorp. (Puerto Rico) 1,834,098
7,541 OFG Bancorp 188,073
29,702 Popular, Inc. 1,705,192
 
Communications – 1.77%
   10,698 América Móvil, S.A.B. de C.V. Class B ADR 225,193
209,144 América Móvil, S.A.B. de C.V. 220,489
479,175 Fuego Enterprises, Inc.*1 20,652
207,034 Grupo Radio Centro S.A.B. de C.V.* 34,463
          2 Sitios LatinoAmerica S.A.B. de C.V. 1
31,172 Spanish Broadcasting System, Inc.* 34,289
33,226 Telesites S.A.B. Series B-1 33,129
 
Construction and related – 22.62%
155,645 Cemex, S.A.B. de C.V. ADR* 860,717
20 Ceramica Carabobo Class A ADR*1 --
4,000 Martin Marietta Materials, Inc. 1,420,240
26,568 MasTec, Inc.* 2,509,082
64,117 PGT Innovations, Inc.* 1,609,978
5,000 Vulcan Materials Company 857,800

 

 
 

 

Shares or Principal Amount Description Fair Value
 
Food, beverages and tobacco – 8.29%
473,164 Becle, S.A.B. de C.V. 1,231,060
18,900 Fomento Económico Mexicano, S.A.B. de C.V. Series UBD    179,903
13,110 Fomento Económico Mexicano, S.A.B. de C.V. ADR    1,247,941
 
Housing – 3.44%
10,500 Lennar Corporation 1,103,655
 
Investment companies - 0.05%
70,000 Waterloo Investment Holdings Ltd.*1 15,680
 
Leisure – 15.75%
6,745 Marriott Vacations Worldwide Corporation 909,631
116,578 Norwegian Cruise Line Holdings Ltd.* 1,567,974
78,605 Playa Hotels and Resorts N.V.* 754,608
27,863 Royal Caribbean Cruises Ltd.* 1,819,454
 
Mining - 0.06%
3,872 Grupo México, S.A.B. de C.V. Series B 18,313
 
Retail - 2.84%
1,270 Grupo Elektra, S.A.B. de C.V. Series CPO 72,370
210,222 Wal-Mart de México, S.A.B. de C.V. Series V 839,843
 
Transportation infrastructure - 4.47%
4,675 Grupo Aeroportuario ADR 1,432,747
 
Trucking and marine freight – 1.61%
137 Seaboard Corporation 516,491
 
 

 

Shares or Principal Amount Description Fair Value
 
Utilities – 12.83%
23,200 Caribbean Utilities Ltd. Class A 320,624
6,092 Consolidated Water Company Ltd. 100,092
700 Cuban Electric Company*1 --
19,854 NextEra Energy, Inc. 1,530,346
73,602 New Fortress Energy, Inc., Class A 2,166,107
 
Other – 1.04%
55,921 Margo Caribe, Inc.*332,730
79 Siderurgica Venezolana Sivensa, S.A. Series B*1--
 
Total common stocks (cost $21,514,646)31,948,702
 
Bonds – 0.00% of net assets
$ 165,000 Republic of Cuba - 4.5%, 1977 - in default*1 --
 
Total bonds (cost $63,038) --
 
Money Market Funds – 0.26%
83,596 Federated Hermes Government Obligations Fund,
Institutional Class, 4.65%2 		83,596
 
Total money market funds (cost $83,596)83,596
 
Total investments (cost $21,661,280) – 99.85% of net assets $ 32,032,298
 
Assets in excess of other liabilities – 0.15% of net assets 46,777
 
Net assets - 100% $ 32,079,075

 

 

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

Board of Directors. Fair valued securities comprised 0.11% of net assets.

2 Rate disclosed is the seven day effective yield as of March 31, 2023.

 

* Non-income producing