<SEC-DOCUMENT>0001752724-23-192162.txt : 20230828
<SEC-HEADER>0001752724-23-192162.hdr.sgml : 20230828
<ACCEPTANCE-DATETIME>20230828070856
ACCESSION NUMBER:		0001752724-23-192162
CONFORMED SUBMISSION TYPE:	NPORT-P
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20230630
FILED AS OF DATE:		20230828
DATE AS OF CHANGE:		20230828
PERIOD START:           	20230630

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:		NPORT-P
		SEC ACT:		1940 Act
		SEC FILE NUMBER:	811-06445
		FILM NUMBER:		231210114

	BUSINESS ADDRESS:	
		STREET 1:		119 WASHINGTON AVENUE, SUITE 504
		CITY:			MIAMI BEACH
		STATE:			FL
		ZIP:			33139
		BUSINESS PHONE:		305-777-1660

	MAIL ADDRESS:	
		STREET 1:		119 WASHINGTON AVENUE, SUITE 504
		CITY:			MIAMI BEACH
		STATE:			FL
		ZIP:			33139

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	FIRST CUBA FUND INC
		DATE OF NAME CHANGE:	19920929
</SEC-HEADER>
<DOCUMENT>
<TYPE>NPORT-P
<SEQUENCE>1
<FILENAME>primary_doc.xml
<TEXT>
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      <regName>Herzfeld Caribbean Basin Fund, Inc.</regName>
      <regFileNumber>811-06445</regFileNumber>
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      <regLei>549300ML0K6PRXPULR11</regLei>
      <regStreet1>119 WASHINGTON AVENUE</regStreet1>
      <regStreet2>Suite 504</regStreet2>
      <regCity>MIAMI BEACH</regCity>
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      <regZipOrPostalCode>33139</regZipOrPostalCode>
      <regPhone>305-777-1660</regPhone>
      <seriesName>Herzfeld Caribbean Basin Fund, Inc.</seriesName>
      <seriesLei>549300ML0K6PRXPULR11</seriesLei>
      <repPdEnd>2023-06-30</repPdEnd>
      <repPdDate>2023-06-30</repPdDate>
      <isFinalFiling>N</isFinalFiling>
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      <totLiabs>110878.26</totLiabs>
      <netAssets>35575592.01</netAssets>
      <assetsAttrMiscSec>0.00000000</assetsAttrMiscSec>
      <assetsInvested>0.00000000</assetsInvested>
      <amtPayOneYrBanksBorr>0.00000000</amtPayOneYrBanksBorr>
      <amtPayOneYrCtrldComp>0.00000000</amtPayOneYrCtrldComp>
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        <name>Sitios Latinoamerica S.A.B. De C.V</name>
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        <isRestrictedSec>N</isRestrictedSec>

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        <name>Martin Marietta Materials Inc</name>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Grupo Aeroportuario del Sureste S.A.B. de C.V.</name>
        <lei>5299001W7JIDXCUOUC82</lei>
        <title>Grupo Aeroportuario del Sureste S.A.B. de C.V. ADR</title>
        <cusip>40051E202</cusip>
        <identifiers>
          <isin value="US40051E2028"/>
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        <balance>4175.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1159355.75000000</valUSD>
        <pctVal>3.258851601609</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>MX</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>America Movil S.A.B. de C.V.</name>
        <lei>5493000FNR3UCEAONM59</lei>
        <title>America Movil SAB de C.V. ADR Series L</title>
        <cusip>02390A101</cusip>
        <identifiers>
          <isin value="US02390A1016"/>
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        <balance>10698.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>231504.72000000</valUSD>
        <pctVal>0.650740316380</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>MX</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Fomento Economico Mexicano S A B de C V</name>
        <lei>549300A8MDWDJNMLV153</lei>
        <title>Fomento Economico Mexicano, S.A.B. de C.V. ADR</title>
        <cusip>344419106</cusip>
        <identifiers>
          <isin value="US3444191064"/>
        </identifiers>
        <balance>13110.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1453112.40000000</valUSD>
        <pctVal>4.084576862674</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>MX</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Mastec, Inc.</name>
        <lei>549300TMDIT8WREDOF45</lei>
        <title>MasTec, Inc. </title>
        <cusip>576323109</cusip>
        <identifiers>
          <isin value="US5763231090"/>
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        <balance>23568.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>2780316.96000000</valUSD>
        <pctVal>7.815237366165</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Grupo Radio Centro S A B DE C V</name>
        <lei>N/A</lei>
        <title>Grupo Radio Centro. S.A.B. de C.V. </title>
        <cusip>P4983X160</cusip>
        <identifiers>
          <isin value="MXP680051218"/>
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        <balance>207034.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="MXN" exchangeRt="17.11950000"/>
        <valUSD>39666.55000000</valUSD>
        <pctVal>0.111499339178</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>MX</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Grupo Rotoplas Sab De Cv</name>
        <lei>549300PV16C2TA1DPA40</lei>
        <title>Grupo Rotoplas SAB de CV </title>
        <cusip>P49842100</cusip>
        <identifiers>
          <isin value="MX01AG050009"/>
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        <balance>170625.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="MXN" exchangeRt="17.11950000"/>
        <valUSD>252755.63000000</valUSD>
        <pctVal>0.710474838841</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>MX</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Ceramica Carabobo, S.A.C.A.</name>
        <lei>N/A</lei>
        <title>Ceramica Carabobo SACA ADR </title>
        <cusip>15671P704</cusip>
        <identifiers>
          <isin value="US15671P7042"/>
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        <balance>20.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>0.00000000</valUSD>
        <pctVal>0.000000</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>New Fortress Energy Inc.</name>
        <lei>N/A</lei>
        <title>New Fortress Energy, Inc. </title>
        <cusip>644393100</cusip>
        <identifiers>
          <isin value="US6443931000"/>
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        <balance>73602.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1971061.56000000</valUSD>
        <pctVal>5.540488432197</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Fuego Ent Inc</name>
        <lei>N/A</lei>
        <title>Fuego Enterprises Inc </title>
        <cusip>35953E201</cusip>
        <identifiers>
          <isin value="US35953E2019"/>
        </identifiers>
        <balance>479175.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>20652.44000000</valUSD>
        <pctVal>0.058052273576</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Caribbean Utilties</name>
        <lei>549300JWGMJO03H0G857</lei>
        <title>Caribbean Utilities Limited Class A</title>
        <cusip>G1899E146</cusip>
        <identifiers>
          <isin value="KYG1899E1465"/>
        </identifiers>
        <balance>23200.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>284200.00000000</valUSD>
        <pctVal>0.798862320885</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Lennar Corporation</name>
        <lei>529900G61XVRLX5TJX09</lei>
        <title>Lennar Corporation Class A</title>
        <cusip>526057104</cusip>
        <identifiers>
          <isin value="US5260571048"/>
        </identifiers>
        <balance>10500.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1315755.00000000</valUSD>
        <pctVal>3.698476752347</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Operadora de Sites Mexicanos SA de CV</name>
        <lei>4469000001BRCBO8VP14</lei>
        <title>Operadora De Sites Mex - A-1 </title>
        <cusip>P7369E102</cusip>
        <identifiers>
          <isin value="MX01SI0C0002"/>
        </identifiers>
        <balance>33226.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="MXN" exchangeRt="17.11950000"/>
        <valUSD>31480.23000000</valUSD>
        <pctVal>0.088488281491</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>MX</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Money Market Obligations Trust</name>
        <lei>25490005VWJDWX717014</lei>
        <title>Federated Government Obligations Fund Institutional Class</title>
        <cusip>60934N104</cusip>
        <identifiers>
          <isin value="US60934N1046"/>
        </identifiers>
        <balance>624396.87000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>624396.87000000</valUSD>
        <pctVal>1.755127138360</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>STIV</assetCat>
        <issuerCat>RF</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Evertec Inc</name>
        <lei>N/A</lei>
        <title>EVERTEC, Inc. </title>
        <cusip>30040P103</cusip>
        <identifiers>
          <isin value="PR30040P1032"/>
        </identifiers>
        <balance>16956.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>624489.48000000</valUSD>
        <pctVal>1.755387457289</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>America Movil S.A.B. de C.V.</name>
        <lei>5493000FNR3UCEAONM59</lei>
        <title>America Movil SAB de C.V. </title>
        <cusip>P0280A192</cusip>
        <identifiers>
          <isin value="MX01AM050019"/>
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        <balance>209144.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="MXN" exchangeRt="17.11950000"/>
        <valUSD>226986.51000000</valUSD>
        <pctVal>0.638040007700</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>MX</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>First Bancorp Puerto Rico</name>
        <lei>N/A</lei>
        <title>First BanCorporation </title>
        <cusip>318672706</cusip>
        <identifiers>
          <isin value="PR3186727065"/>
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        <balance>160604.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1962580.88000000</valUSD>
        <pctVal>5.516649953283</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>CEMEX S.A.B. de C.V.</name>
        <lei>549300RIG2CXWN6IV731</lei>
        <title>Cemex S.A.B. de C.V. ADR</title>
        <cusip>151290889</cusip>
        <identifiers>
          <isin value="US1512908898"/>
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        <balance>155645.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1101966.60000000</valUSD>
        <pctVal>3.097535522923</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>MX</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>PGT Innovations Inc</name>
        <lei>549300LRW9WM59C1S579</lei>
        <title>PGT Innovations, Inc. </title>
        <cusip>69336V101</cusip>
        <identifiers>
          <isin value="US69336V1017"/>
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        <balance>48117.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1402610.55000000</valUSD>
        <pctVal>3.942620405602</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
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      <invstOrSec>
        <name>CEC Entertainment Inc</name>
        <lei>549300MWTY75LB8TRO50</lei>
        <title>PLAYA HOTELS &amp; RESORTS N.V. </title>
        <cusip>125137109</cusip>
        <identifiers>
          <isin value="US1251371092"/>
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        <balance>98605.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>802644.70000000</valUSD>
        <pctVal>2.256166811712</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Becle Sab De Cv</name>
        <lei>529900JY55CZKMJLCE09</lei>
        <title>Becle S.A.B. de C.V. </title>
        <cusip>P0929Y106</cusip>
        <identifiers>
          <isin value="MX01CU010003"/>
        </identifiers>
        <balance>393164.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="MXN" exchangeRt="17.11950000"/>
        <valUSD>963188.07000000</valUSD>
        <pctVal>2.707440735573</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>MX</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Grupo Mexico SAB de CV</name>
        <lei>529900JWLZAYET2ZGW20</lei>
        <title>Grupo Mexico S.A.B. de C.V. </title>
        <cusip>P49538112</cusip>
        <identifiers>
          <isin value="MXP370841019"/>
        </identifiers>
        <balance>3872.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="MXN" exchangeRt="17.11950000"/>
        <valUSD>18614.19000000</valUSD>
        <pctVal>0.052322924084</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>MX</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Vulcan Materials Company</name>
        <lei>549300Q8LSNHAVWBNI21</lei>
        <title>Vulcan Materials Company </title>
        <cusip>929160109</cusip>
        <identifiers>
          <isin value="US9291601097"/>
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        <balance>5000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1127200.00000000</valUSD>
        <pctVal>3.168464490157</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Waterloo Investment Holdings Limited</name>
        <lei>213800TZIK14GMV2YL02</lei>
        <title>Waterloo Investment Holdings Limited </title>
        <cusip>G94634105</cusip>
        <identifiers>
          <isin value="VGG946341051"/>
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        <balance>70000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>24500.00000000</valUSD>
        <pctVal>0.068867441455</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>OFG Bancorp</name>
        <lei>549300Q4QEXJ37LEXQ06</lei>
        <title>OFG Bancorp </title>
        <cusip>67103X102</cusip>
        <identifiers>
          <isin value="PR67103X1020"/>
        </identifiers>
        <balance>11541.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>300989.28000000</valUSD>
        <pctVal>0.846055576293</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Seaboard Corp Del</name>
        <lei>87Q3KOXT29OW9W9YPT70</lei>
        <title>Seaboard Corporation </title>
        <cusip>811543107</cusip>
        <identifiers>
          <isin value="US8115431079"/>
        </identifiers>
        <balance>137.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>487818.64000000</valUSD>
        <pctVal>1.371217209436</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
    </invstOrSecs>
    <signature>
      <ncom:dateSigned>2023-08-28</ncom:dateSigned>
      <ncom:nameOfApplicant>Susan McLauchlan</ncom:nameOfApplicant>
      <ncom:signature>Susan McLauchlan</ncom:signature>
      <ncom:signerName>Susan McLauchlan</ncom:signerName>
      <ncom:title>AVP Fund Accounting</ncom:title>
    </signature>
  </formData>
</edgarSubmission>
</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
