<SEC-DOCUMENT>0001752724-24-274977.txt : 20241127
<SEC-HEADER>0001752724-24-274977.hdr.sgml : 20241127
<ACCEPTANCE-DATETIME>20241127163919
ACCESSION NUMBER:		0001752724-24-274977
CONFORMED SUBMISSION TYPE:	NPORT-P
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20240930
FILED AS OF DATE:		20241127
DATE AS OF CHANGE:		20241127
PERIOD START:           	20250630

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			HERZFELD CARIBBEAN BASIN FUND INC
		CENTRAL INDEX KEY:			0000880406
		ORGANIZATION NAME:           	
		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:		241511835

	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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      <totLiabs>169305.79</totLiabs>
      <netAssets>52000006.17</netAssets>
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        <name>Fomento Economico Mexicano S A B de C V</name>
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        <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>Mastec, Inc.</name>
        <lei>549300TMDIT8WREDOF45</lei>
        <title>MasTec, Inc. </title>
        <cusip>576323109</cusip>
        <identifiers>
          <isin value="US5763231090"/>
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        <balance>34872.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>4292743.20000000</valUSD>
        <pctVal>8.255274405095</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>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>207033.00000000</balance>
        <units>NS</units>
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        <valUSD>42062.78000000</valUSD>
        <pctVal>0.080889951940</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 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>392076.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="MXN" exchangeRt="19.68800000"/>
        <valUSD>468985.67000000</valUSD>
        <pctVal>0.901895412217</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>Corporacion Inmobiliaria Vesta S A B De C V</name>
        <lei>4469000001BIRIFZJ959</lei>
        <title>Vesta Real Estate Corporation ADR</title>
        <cusip>92540K109</cusip>
        <identifiers>
          <isin value="US92540K1097"/>
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        <balance>48412.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1304219.28000000</valUSD>
        <pctVal>2.508113702402</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>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>3</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
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      <invstOrSec>
        <name>New Fortress Energy Inc.</name>
        <lei>254900EICTYTCHA5X705</lei>
        <title>New Fortress Energy, Inc. </title>
        <cusip>644393100</cusip>
        <identifiers>
          <isin value="US6443931000"/>
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        <balance>133602.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1214442.18000000</valUSD>
        <pctVal>2.335465453657</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>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>EVERMORE SECONDARY OFFER 06/24/2024</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="N/A"/>
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        <balance>170000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>2040000.00000000</valUSD>
        <pctVal>3.923076457588</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>3</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Fuego Enterprises Inc.</name>
        <lei>N/A</lei>
        <title>Fuego Enterprises Inc </title>
        <cusip>35953E201</cusip>
        <identifiers>
          <isin value="US35953E2019"/>
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        <balance>479175.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>4791.75000000</valUSD>
        <pctVal>0.009214902752</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>3</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Caribbean Utilities Co Ltd.</name>
        <lei>549300JWGMJO03H0G857</lei>
        <title>Caribbean Utilities Limited Class A</title>
        <cusip>G1899E146</cusip>
        <identifiers>
          <isin value="KYG1899E1465"/>
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        <balance>23200.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>324800.00000000</valUSD>
        <pctVal>0.624615310502</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 Corp.</name>
        <lei>529900G61XVRLX5TJX09</lei>
        <title>Lennar Corporation Class A</title>
        <cusip>526057104</cusip>
        <identifiers>
          <isin value="US5260571048"/>
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        <balance>9450.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1771686.00000000</valUSD>
        <pctVal>3.407088057274</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>
        <name>Money Market Obligations Trust</name>
        <lei>25490005VWJDWX717014</lei>
        <title>Federated Government Obligations Fund Institutional Class</title>
        <cusip>60934N104</cusip>
        <identifiers>
          <isin value="US60934N1046"/>
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        <balance>423634.95000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>423634.95000000</valUSD>
        <pctVal>0.814682499488</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"/>
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        <balance>16956.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>574638.84000000</valUSD>
        <pctVal>1.105074561186</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="19.68800000"/>
        <valUSD>171772.58000000</valUSD>
        <pctVal>0.330331845420</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>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>88690.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1877567.30000000</valUSD>
        <pctVal>3.610705917729</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>
        <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>155581.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>949044.10000000</valUSD>
        <pctVal>1.825084591139</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>Carnival Corporation</name>
        <lei>F1OF2ZSX47CR0BCWA982</lei>
        <title>Carnival Corporation </title>
        <cusip>143658300</cusip>
        <identifiers>
          <isin value="PA1436583006"/>
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        <balance>82700.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1528296.00000000</valUSD>
        <pctVal>2.939030420503</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Caribbean Utilities Co Ltd.</name>
        <lei>549300JWGMJO03H0G857</lei>
        <title>Caribbean Utilities Rights </title>
        <cusip>G1899U124</cusip>
        <identifiers>
          <isin value="KYG1899U1242"/>
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        <balance>23200.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>232.00000000</valUSD>
        <pctVal>0.000446153793</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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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>202058.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1565949.50000000</valUSD>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <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"/>
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        <balance>652525.00000000</balance>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>MX</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <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"/>
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        <balance>117872.00000000</balance>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>MX</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <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>5219.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1306994.17000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <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>0.047115379024</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>3</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>OFG Bancorp</name>
        <lei>549300Q4QEXJ37LEXQ06</lei>
        <title>OFG Bancorp </title>
        <cusip>67103X102</cusip>
        <identifiers>
          <isin value="PR67103X1020"/>
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        <balance>53454.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>2401153.68000000</valUSD>
        <pctVal>4.617602682872</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>Seaboard Corp Del</name>
        <lei>87Q3KOXT29OW9W9YPT70</lei>
        <title>Seaboard Corporation </title>
        <cusip>811543107</cusip>
        <identifiers>
          <isin value="US8115431079"/>
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        <balance>137.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>429769.00000000</valUSD>
        <pctVal>0.826478748088</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>OneSpaWorld Holdings Ltd.</name>
        <lei>5493007W8PZ8W6UC2X76</lei>
        <title>OneSpaWorld Holdings Ltd. </title>
        <cusip>P73684113</cusip>
        <identifiers>
          <isin value="BSP736841136"/>
        </identifiers>
        <balance>94570.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1561350.70000000</valUSD>
        <pctVal>3.002597143730</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>BS</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
    </invstOrSecs>
    <signature>
      <ncom:dateSigned>2024-11-25</ncom:dateSigned>
      <ncom:nameOfApplicant>Susan McLauchlan</ncom:nameOfApplicant>
      <ncom:signature>Susan McLauchlan</ncom:signature>
      <ncom:signerName>Susan McLauchlan</ncom:signerName>
      <ncom:title>VP Fund Accounting</ncom:title>
    </signature>
  </formData>
  <documents>XXXX</documents>
</edgarSubmission>
</XML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>NPORT-EX
<SEQUENCE>2
<FILENAME>herzfeld_n-port.htm
<DESCRIPTION>SOI
<TEXT>
<HTML>
<HEAD>
     <TITLE></TITLE>
</HEAD>
<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

<TABLE BORDER="0" CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; border-collapse: collapse; font: 11pt Aptos Narrow">
  <TR STYLE="vertical-align: bottom; background-color: #DAF2D0">
    <TD STYLE="border-top: #8ED973 0.5pt solid; border-bottom: #8ED973 0.5pt solid; border-left: #8ED973 0.5pt solid; width: 35%">&nbsp;</TD>
    <TD STYLE="border-top: #8ED973 0.5pt solid; border-bottom: #8ED973 0.5pt solid; width: 49%">&nbsp;</TD>
    <TD STYLE="border-top: #8ED973 0.5pt solid; border-right: #8ED973 0.5pt solid; border-bottom: #8ED973 0.5pt solid; text-align: right; width: 16%">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-top: #8ED973 0.5pt solid; border-bottom: #8ED973 0.5pt solid; border-left: #8ED973 0.5pt solid">&nbsp;</TD>
    <TD STYLE="border-top: #8ED973 0.5pt solid; border-bottom: #8ED973 0.5pt solid">&nbsp;</TD>
    <TD STYLE="border-top: #8ED973 0.5pt solid; border-right: #8ED973 0.5pt solid; border-bottom: #8ED973 0.5pt solid; text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: #DAF2D0">
    <TD STYLE="font-weight: bold; border-top: #8ED973 0.5pt solid; border-bottom: #8ED973 0.5pt solid; border-left: #8ED973 0.5pt solid">Herzfeld Caribbean Basin Fund, Inc.</TD>
    <TD STYLE="border-top: #8ED973 0.5pt solid; border-bottom: #8ED973 0.5pt solid">&nbsp;</TD>
    <TD STYLE="border-top: #8ED973 0.5pt solid; border-right: #8ED973 0.5pt solid; border-bottom: #8ED973 0.5pt solid; text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD COLSPAN="2" STYLE="font-weight: bold; border-top: #8ED973 0.5pt solid; border-bottom: #8ED973 0.5pt solid; border-left: #8ED973 0.5pt solid">Schedule of Investments as of September 30, 2024 (Unaudited)</TD>
    <TD STYLE="border-top: #8ED973 0.5pt solid; border-right: #8ED973 0.5pt solid; border-bottom: #8ED973 0.5pt solid; text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: #DAF2D0">
    <TD STYLE="border-top: #8ED973 0.5pt solid; border-bottom: Black 1pt solid; border-left: #8ED973 0.5pt solid">&nbsp;</TD>
    <TD STYLE="border-top: #8ED973 0.5pt solid; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-top: #8ED973 0.5pt solid; border-right: #8ED973 0.5pt solid; border-bottom: Black 1pt solid; text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-top: #8ED973 0.5pt solid; border-bottom: Black 1pt solid; border-left: #8ED973 0.5pt solid">Shares or Principal Amount</TD>
    <TD STYLE="border-top: #8ED973 0.5pt solid; border-bottom: Black 1pt solid">Description</TD>
    <TD STYLE="border-top: #8ED973 0.5pt solid; border-right: #8ED973 0.5pt solid; border-bottom: Black 1pt solid; text-align: right">Fair Value</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: #DAF2D0">
    <TD STYLE="border-top: #8ED973 0.5pt solid; border-bottom: #8ED973 0.5pt solid; border-left: #8ED973 0.5pt solid">&nbsp;</TD>
    <TD STYLE="border-top: #8ED973 0.5pt solid; border-bottom: #8ED973 0.5pt solid">&nbsp;</TD>
    <TD STYLE="border-top: #8ED973 0.5pt solid; border-right: #8ED973 0.5pt solid; border-bottom: #8ED973 0.5pt solid; text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-weight: bold; border-top: #8ED973 0.5pt solid; border-bottom: #8ED973 0.5pt solid; border-left: #8ED973 0.5pt solid; text-align: left">Common Stocks &ndash;&nbsp;</TD>
    <TD STYLE="border-top: #8ED973 0.5pt solid; border-bottom: #8ED973 0.5pt solid; text-align: left">99.06% - of net assets</TD>
    <TD STYLE="border-top: #8ED973 0.5pt solid; border-right: #8ED973 0.5pt solid; border-bottom: #8ED973 0.5pt solid; text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: #DAF2D0">
    <TD STYLE="border-top: #8ED973 0.5pt solid; border-bottom: #8ED973 0.5pt solid; border-left: #8ED973 0.5pt solid; text-align: left">&nbsp;</TD>
    <TD STYLE="border-top: #8ED973 0.5pt solid; border-bottom: #8ED973 0.5pt solid; text-align: left">&nbsp;</TD>
    <TD STYLE="border-top: #8ED973 0.5pt solid; border-right: #8ED973 0.5pt solid; border-bottom: #8ED973 0.5pt solid; text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-weight: bold; border-top: #8ED973 0.5pt solid; border-bottom: #8ED973 0.5pt solid; border-left: #8ED973 0.5pt solid">Airlines &ndash; 2.75%</TD>
    <TD STYLE="border-top: #8ED973 0.5pt solid; border-bottom: #8ED973 0.5pt solid">&nbsp;</TD>
    <TD STYLE="border-top: #8ED973 0.5pt solid; border-right: #8ED973 0.5pt solid; border-bottom: #8ED973 0.5pt solid; text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: #DAF2D0">
    <TD STYLE="padding-right: 204px; border-top: #8ED973 0.5pt solid; border-bottom: #8ED973 0.5pt solid; border-left: #8ED973 0.5pt solid; text-align: right">15,250</TD>
    <TD STYLE="border-top: #8ED973 0.5pt solid; border-bottom: #8ED973 0.5pt solid">Copa Holdings, S.A.</TD>
    <TD STYLE="border-top: #8ED973 0.5pt solid; border-right: #8ED973 0.5pt solid; border-bottom: #8ED973 0.5pt solid; text-align: right">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1,431,060</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-weight: bold; border-top: #8ED973 0.5pt solid; border-bottom: #8ED973 0.5pt solid; border-left: #8ED973 0.5pt solid">Banking and Finance &ndash; 21.22%</TD>
    <TD STYLE="border-top: #8ED973 0.5pt solid; border-bottom: #8ED973 0.5pt solid">&nbsp;</TD>
    <TD STYLE="border-top: #8ED973 0.5pt solid; border-right: #8ED973 0.5pt solid; border-bottom: #8ED973 0.5pt solid; text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: #DAF2D0">
    <TD STYLE="padding-right: 204px; border-top: #8ED973 0.5pt solid; border-bottom: #8ED973 0.5pt solid; border-left: #8ED973 0.5pt solid; text-align: right">70,089</TD>
    <TD STYLE="border-top: #8ED973 0.5pt solid; border-bottom: #8ED973 0.5pt solid">Banco Latinoamericano de Comercio Exterior, S.A.</TD>
    <TD STYLE="border-top: #8ED973 0.5pt solid; border-right: #8ED973 0.5pt solid; border-bottom: #8ED973 0.5pt solid; text-align: right">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2,277,192</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 204px; border-top: #8ED973 0.5pt solid; border-bottom: #8ED973 0.5pt solid; border-left: #8ED973 0.5pt solid; text-align: right">170,000</TD>
    <TD STYLE="border-top: #8ED973 0.5pt solid; border-bottom: #8ED973 0.5pt solid">Evermore Bank<FONT STYLE="font-family: Aptos Narrow, sans-serif; font-size: 11pt; font-style: normal; font-weight: 400"><SUP>1</SUP></FONT></TD>
    <TD STYLE="border-top: #8ED973 0.5pt solid; border-right: #8ED973 0.5pt solid; border-bottom: #8ED973 0.5pt solid; text-align: right">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2,040,000</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: #DAF2D0">
    <TD STYLE="padding-right: 204px; border-top: #8ED973 0.5pt solid; border-bottom: #8ED973 0.5pt solid; border-left: #8ED973 0.5pt solid; text-align: right">16,956</TD>
    <TD STYLE="border-top: #8ED973 0.5pt solid; border-bottom: #8ED973 0.5pt solid">Evertec, Inc.</TD>
    <TD STYLE="border-top: #8ED973 0.5pt solid; border-right: #8ED973 0.5pt solid; border-bottom: #8ED973 0.5pt solid; text-align: right">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;574,639</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 204px; border-top: #8ED973 0.5pt solid; border-bottom: #8ED973 0.5pt solid; border-left: #8ED973 0.5pt solid; text-align: right">88,690</TD>
    <TD STYLE="border-top: #8ED973 0.5pt solid; border-bottom: #8ED973 0.5pt solid">First BanCorp. (Puerto Rico)</TD>
    <TD STYLE="border-top: #8ED973 0.5pt solid; border-right: #8ED973 0.5pt solid; border-bottom: #8ED973 0.5pt solid; text-align: right">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1,877,567</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: #DAF2D0">
    <TD STYLE="padding-right: 204px; border-top: #8ED973 0.5pt solid; border-bottom: #8ED973 0.5pt solid; border-left: #8ED973 0.5pt solid; text-align: right">53,454</TD>
    <TD STYLE="border-top: #8ED973 0.5pt solid; border-bottom: #8ED973 0.5pt solid">OFG Bancorp</TD>
    <TD STYLE="border-top: #8ED973 0.5pt solid; border-right: #8ED973 0.5pt solid; border-bottom: #8ED973 0.5pt solid; text-align: right">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2,401,154</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 204px; border-top: #8ED973 0.5pt solid; border-bottom: #8ED973 0.5pt solid; border-left: #8ED973 0.5pt solid; text-align: right">18,598</TD>
    <TD STYLE="border-top: #8ED973 0.5pt solid; border-bottom: #8ED973 0.5pt solid">Popular, Inc.</TD>
    <TD STYLE="border-top: #8ED973 0.5pt solid; border-right: #8ED973 0.5pt solid; border-bottom: #8ED973 0.5pt solid; text-align: right">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1,864,821</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: #DAF2D0">
    <TD STYLE="font-weight: bold; border-top: #8ED973 0.5pt solid; border-bottom: #8ED973 0.5pt solid; border-left: #8ED973 0.5pt solid">Communications &ndash; 0.76%</TD>
    <TD STYLE="border-top: #8ED973 0.5pt solid; border-bottom: #8ED973 0.5pt solid">&nbsp;</TD>
    <TD STYLE="border-top: #8ED973 0.5pt solid; border-right: #8ED973 0.5pt solid; border-bottom: #8ED973 0.5pt solid; text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 204px; border-top: #8ED973 0.5pt solid; border-bottom: #8ED973 0.5pt solid; border-left: #8ED973 0.5pt solid; text-align: right">10,698</TD>
    <TD STYLE="border-top: #8ED973 0.5pt solid; border-bottom: #8ED973 0.5pt solid">Am&eacute;rica M&oacute;vil, S.A.B. de C.V. Class B ADR</TD>
    <TD STYLE="border-top: #8ED973 0.5pt solid; border-right: #8ED973 0.5pt solid; border-bottom: #8ED973 0.5pt solid; text-align: right">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;175,019</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: #DAF2D0">
    <TD STYLE="padding-right: 204px; border-top: #8ED973 0.5pt solid; border-bottom: #8ED973 0.5pt solid; border-left: #8ED973 0.5pt solid; text-align: right">209,144</TD>
    <TD STYLE="border-top: #8ED973 0.5pt solid; border-bottom: #8ED973 0.5pt solid">Am&eacute;rica M&oacute;vil, S.A.B. de C.V.&nbsp;</TD>
    <TD STYLE="border-top: #8ED973 0.5pt solid; border-right: #8ED973 0.5pt solid; border-bottom: #8ED973 0.5pt solid; text-align: right">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;171,773</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 204px; border-top: #8ED973 0.5pt solid; border-bottom: #8ED973 0.5pt solid; border-left: #8ED973 0.5pt solid; text-align: right">479,175</TD>
    <TD STYLE="border-top: #8ED973 0.5pt solid; border-bottom: #8ED973 0.5pt solid">Fuego Enterprises, Inc.*<FONT STYLE="font-family: Aptos Narrow, sans-serif; font-size: 11pt; font-style: normal; font-weight: 400"><SUP>1</SUP></FONT></TD>
    <TD STYLE="border-top: #8ED973 0.5pt solid; border-right: #8ED973 0.5pt solid; border-bottom: #8ED973 0.5pt solid; text-align: right">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4,792</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: #DAF2D0">
    <TD STYLE="padding-right: 204px; border-top: #8ED973 0.5pt solid; border-bottom: #8ED973 0.5pt solid; border-left: #8ED973 0.5pt solid; text-align: right">207,033</TD>
    <TD STYLE="border-top: #8ED973 0.5pt solid; border-bottom: #8ED973 0.5pt solid">Grupo Radio Centro S.A.B. de C.V.*</TD>
    <TD STYLE="border-top: #8ED973 0.5pt solid; border-right: #8ED973 0.5pt solid; border-bottom: #8ED973 0.5pt solid; text-align: right">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;42,063</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-weight: bold; border-top: #8ED973 0.5pt solid; border-bottom: #8ED973 0.5pt solid; border-left: #8ED973 0.5pt solid; text-align: left">Construction and Related &ndash; 16.56%</TD>
    <TD STYLE="border-top: #8ED973 0.5pt solid; border-bottom: #8ED973 0.5pt solid">&nbsp;</TD>
    <TD STYLE="border-top: #8ED973 0.5pt solid; border-right: #8ED973 0.5pt solid; border-bottom: #8ED973 0.5pt solid; text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: #DAF2D0">
    <TD STYLE="padding-right: 204px; border-top: #8ED973 0.5pt solid; border-bottom: #8ED973 0.5pt solid; border-left: #8ED973 0.5pt solid; text-align: right">155,581</TD>
    <TD STYLE="border-top: #8ED973 0.5pt solid; border-bottom: #8ED973 0.5pt solid">Cemex, S.A.B. de C.V. ADR*</TD>
    <TD STYLE="border-top: #8ED973 0.5pt solid; border-right: #8ED973 0.5pt solid; border-bottom: #8ED973 0.5pt solid; text-align: right">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;949,044</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 204px; border-top: #8ED973 0.5pt solid; border-bottom: #8ED973 0.5pt solid; border-left: #8ED973 0.5pt solid; text-align: right">20</TD>
    <TD STYLE="border-top: #8ED973 0.5pt solid; border-bottom: #8ED973 0.5pt solid">Ceramica Carabobo Class A ADR*<FONT STYLE="font-family: Aptos Narrow, sans-serif; font-size: 11pt; font-style: normal; font-weight: 400"><SUP>1</SUP></FONT></TD>
    <TD STYLE="border-top: #8ED973 0.5pt solid; border-right: #8ED973 0.5pt solid; border-bottom: #8ED973 0.5pt solid; text-align: right">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;-&nbsp;&nbsp;&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: #DAF2D0">
    <TD STYLE="padding-right: 204px; border-top: #8ED973 0.5pt solid; border-bottom: #8ED973 0.5pt solid; border-left: #8ED973 0.5pt solid; text-align: right">3,840</TD>
    <TD STYLE="border-top: #8ED973 0.5pt solid; border-bottom: #8ED973 0.5pt solid">Martin Marietta Materials, Inc.</TD>
    <TD STYLE="border-top: #8ED973 0.5pt solid; border-right: #8ED973 0.5pt solid; border-bottom: #8ED973 0.5pt solid; text-align: right">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2,066,880</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 204px; border-top: #8ED973 0.5pt solid; border-bottom: #8ED973 0.5pt solid; border-left: #8ED973 0.5pt solid; text-align: right">34,872</TD>
    <TD STYLE="border-top: #8ED973 0.5pt solid; border-bottom: #8ED973 0.5pt solid">MasTec, Inc.*</TD>
    <TD STYLE="border-top: #8ED973 0.5pt solid; border-right: #8ED973 0.5pt solid; border-bottom: #8ED973 0.5pt solid; text-align: right">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4,292,743</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: #DAF2D0">
    <TD STYLE="padding-right: 204px; border-top: #8ED973 0.5pt solid; border-bottom: #8ED973 0.5pt solid; border-left: #8ED973 0.5pt solid; text-align: right">5,219</TD>
    <TD STYLE="border-top: #8ED973 0.5pt solid; border-bottom: #8ED973 0.5pt solid">Vulcan Materials Company</TD>
    <TD STYLE="border-top: #8ED973 0.5pt solid; border-right: #8ED973 0.5pt solid; border-bottom: #8ED973 0.5pt solid; text-align: right">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1,306,994</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-weight: bold; border-top: #8ED973 0.5pt solid; border-bottom: #8ED973 0.5pt solid; border-left: #8ED973 0.5pt solid">Food, Beverages, and Tobacco &ndash; 4.97%</TD>
    <TD STYLE="border-top: #8ED973 0.5pt solid; border-bottom: #8ED973 0.5pt solid">&nbsp;</TD>
    <TD STYLE="border-top: #8ED973 0.5pt solid; border-right: #8ED973 0.5pt solid; border-bottom: #8ED973 0.5pt solid; text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: #DAF2D0">
    <TD STYLE="padding-right: 204px; border-top: #8ED973 0.5pt solid; border-bottom: #8ED973 0.5pt solid; border-left: #8ED973 0.5pt solid; text-align: right">652,525</TD>
    <TD STYLE="border-top: #8ED973 0.5pt solid; border-bottom: #8ED973 0.5pt solid">Becle, S.A.B. de C.V.</TD>
    <TD STYLE="border-top: #8ED973 0.5pt solid; border-right: #8ED973 0.5pt solid; border-bottom: #8ED973 0.5pt solid; text-align: right">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1,027,442</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 204px; border-top: #8ED973 0.5pt solid; border-bottom: #8ED973 0.5pt solid; border-left: #8ED973 0.5pt solid; text-align: right">18,900</TD>
    <TD STYLE="border-top: #8ED973 0.5pt solid; border-bottom: #8ED973 0.5pt solid">Fomento Econ&oacute;mico Mexicano, S.A.B. de C.V. Series UBD</TD>
    <TD STYLE="border-top: #8ED973 0.5pt solid; border-right: #8ED973 0.5pt solid; border-bottom: #8ED973 0.5pt solid; text-align: right">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;186,360</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: #DAF2D0">
    <TD STYLE="padding-right: 204px; border-top: #8ED973 0.5pt solid; border-bottom: #8ED973 0.5pt solid; border-left: #8ED973 0.5pt solid; text-align: right">13,899</TD>
    <TD STYLE="border-top: #8ED973 0.5pt solid; border-bottom: #8ED973 0.5pt solid">Fomento Econ&oacute;mico Mexicano, S.A.B. de C.V. ADR</TD>
    <TD STYLE="border-top: #8ED973 0.5pt solid; border-right: #8ED973 0.5pt solid; border-bottom: #8ED973 0.5pt solid; text-align: right">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1,371,970</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-weight: bold; border-top: #8ED973 0.5pt solid; border-bottom: #8ED973 0.5pt solid; border-left: #8ED973 0.5pt solid">Housing &ndash; 3.41%</TD>
    <TD STYLE="border-top: #8ED973 0.5pt solid; border-bottom: #8ED973 0.5pt solid">&nbsp;</TD>
    <TD STYLE="border-top: #8ED973 0.5pt solid; border-right: #8ED973 0.5pt solid; border-bottom: #8ED973 0.5pt solid; text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: #DAF2D0">
    <TD STYLE="padding-right: 204px; border-top: #8ED973 0.5pt solid; border-bottom: #8ED973 0.5pt solid; border-left: #8ED973 0.5pt solid; text-align: right">9,450</TD>
    <TD STYLE="border-top: #8ED973 0.5pt solid; border-bottom: #8ED973 0.5pt solid">Lennar Corporation</TD>
    <TD STYLE="border-top: #8ED973 0.5pt solid; border-right: #8ED973 0.5pt solid; border-bottom: #8ED973 0.5pt solid; text-align: right">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1,771,686</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-weight: bold; border-top: #8ED973 0.5pt solid; border-bottom: #8ED973 0.5pt solid; border-left: #8ED973 0.5pt solid">Investment Companies &ndash; 0.05%</TD>
    <TD STYLE="border-top: #8ED973 0.5pt solid; border-bottom: #8ED973 0.5pt solid">&nbsp;</TD>
    <TD STYLE="border-top: #8ED973 0.5pt solid; border-right: #8ED973 0.5pt solid; border-bottom: #8ED973 0.5pt solid; text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: #DAF2D0">
    <TD STYLE="padding-right: 204px; border-top: #8ED973 0.5pt solid; border-bottom: #8ED973 0.5pt solid; border-left: #8ED973 0.5pt solid; text-align: right">70,000</TD>
    <TD STYLE="border-top: #8ED973 0.5pt solid; border-bottom: #8ED973 0.5pt solid">Waterloo Investment Holdings Ltd.*<FONT STYLE="font-family: Aptos Narrow, sans-serif; font-size: 11pt; font-style: normal; font-weight: 400"><SUP>1</SUP></FONT></TD>
    <TD STYLE="border-top: #8ED973 0.5pt solid; border-right: #8ED973 0.5pt solid; border-bottom: #8ED973 0.5pt solid; text-align: right">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24,500</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-weight: bold; border-top: #8ED973 0.5pt solid; border-bottom: #8ED973 0.5pt solid; border-left: #8ED973 0.5pt solid">Leisure &ndash; 26.84%</TD>
    <TD STYLE="border-top: #8ED973 0.5pt solid; border-bottom: #8ED973 0.5pt solid">&nbsp;</TD>
    <TD STYLE="border-top: #8ED973 0.5pt solid; border-right: #8ED973 0.5pt solid; border-bottom: #8ED973 0.5pt solid; text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: #DAF2D0">
    <TD STYLE="padding-right: 204px; border-top: #8ED973 0.5pt solid; border-bottom: #8ED973 0.5pt solid; border-left: #8ED973 0.5pt solid; text-align: right">82,700</TD>
    <TD STYLE="border-top: #8ED973 0.5pt solid; border-bottom: #8ED973 0.5pt solid">Carnival Corporation*</TD>
    <TD STYLE="border-top: #8ED973 0.5pt solid; border-right: #8ED973 0.5pt solid; border-bottom: #8ED973 0.5pt solid; text-align: right">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1,528,296</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 204px; border-top: #8ED973 0.5pt solid; border-bottom: #8ED973 0.5pt solid; border-left: #8ED973 0.5pt solid; text-align: right">243,207</TD>
    <TD STYLE="border-top: #8ED973 0.5pt solid; border-bottom: #8ED973 0.5pt solid">Norwegian Cruse Line Holdings Ltd.*</TD>
    <TD STYLE="border-top: #8ED973 0.5pt solid; border-right: #8ED973 0.5pt solid; border-bottom: #8ED973 0.5pt solid; text-align: right">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4,988,176</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: #DAF2D0">
    <TD STYLE="padding-right: 204px; border-top: #8ED973 0.5pt solid; border-bottom: #8ED973 0.5pt solid; border-left: #8ED973 0.5pt solid; text-align: right">94,570</TD>
    <TD STYLE="border-top: #8ED973 0.5pt solid; border-bottom: #8ED973 0.5pt solid">OneSpaWorld Holdings Ltd.*</TD>
    <TD STYLE="border-top: #8ED973 0.5pt solid; border-right: #8ED973 0.5pt solid; border-bottom: #8ED973 0.5pt solid; text-align: right">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1,561,351</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 204px; border-top: #8ED973 0.5pt solid; border-bottom: #8ED973 0.5pt solid; border-left: #8ED973 0.5pt solid; text-align: right">202,058</TD>
    <TD STYLE="border-top: #8ED973 0.5pt solid; border-bottom: #8ED973 0.5pt solid">Playa Hotels and Resorts N.V.*</TD>
    <TD STYLE="border-top: #8ED973 0.5pt solid; border-right: #8ED973 0.5pt solid; border-bottom: #8ED973 0.5pt solid; text-align: right">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1,565,950</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: #DAF2D0">
    <TD STYLE="padding-right: 204px; border-top: #8ED973 0.5pt solid; border-bottom: #8ED973 0.5pt solid; border-left: #8ED973 0.5pt solid; text-align: right">24,348</TD>
    <TD STYLE="border-top: #8ED973 0.5pt solid; border-bottom: #8ED973 0.5pt solid">Royal Caribbean Cruises Ltd.</TD>
    <TD STYLE="border-top: #8ED973 0.5pt solid; border-right: #8ED973 0.5pt solid; border-bottom: #8ED973 0.5pt solid; text-align: right">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4,318,361</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-weight: bold; border-top: #8ED973 0.5pt solid; border-bottom: #8ED973 0.5pt solid; border-left: #8ED973 0.5pt solid">Machinery &ndash; 0.90%</TD>
    <TD STYLE="border-top: #8ED973 0.5pt solid; border-bottom: #8ED973 0.5pt solid">&nbsp;</TD>
    <TD STYLE="border-top: #8ED973 0.5pt solid; border-right: #8ED973 0.5pt solid; border-bottom: #8ED973 0.5pt solid; text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: #DAF2D0">
    <TD STYLE="padding-right: 204px; border-top: #8ED973 0.5pt solid; border-bottom: #8ED973 0.5pt solid; border-left: #8ED973 0.5pt solid; text-align: right">392,076</TD>
    <TD STYLE="border-top: #8ED973 0.5pt solid; border-bottom: #8ED973 0.5pt solid">Grupo Rotoplas S.A.B. de C.V.</TD>
    <TD STYLE="border-top: #8ED973 0.5pt solid; border-right: #8ED973 0.5pt solid; border-bottom: #8ED973 0.5pt solid; text-align: right">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;468,986</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-weight: bold; border-top: #8ED973 0.5pt solid; border-bottom: #8ED973 0.5pt solid; border-left: #8ED973 0.5pt solid">Mining &ndash; 1.27%</TD>
    <TD STYLE="border-top: #8ED973 0.5pt solid; border-bottom: #8ED973 0.5pt solid">&nbsp;</TD>
    <TD STYLE="border-top: #8ED973 0.5pt solid; border-right: #8ED973 0.5pt solid; border-bottom: #8ED973 0.5pt solid; text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: #DAF2D0">
    <TD STYLE="padding-right: 204px; border-top: #8ED973 0.5pt solid; border-bottom: #8ED973 0.5pt solid; border-left: #8ED973 0.5pt solid; text-align: right">117,872</TD>
    <TD STYLE="border-top: #8ED973 0.5pt solid; border-bottom: #8ED973 0.5pt solid">Grupo M&eacute;xico, S.A.B. de C.V. Series B</TD>
    <TD STYLE="border-top: #8ED973 0.5pt solid; border-right: #8ED973 0.5pt solid; border-bottom: #8ED973 0.5pt solid; text-align: right">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;658,570</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-weight: bold; border-top: #8ED973 0.5pt solid; border-bottom: #8ED973 0.5pt solid; border-left: #8ED973 0.5pt solid">Oil &amp; Gas Services &amp; Equipment &ndash; 4.53%</TD>
    <TD STYLE="border-top: #8ED973 0.5pt solid; border-bottom: #8ED973 0.5pt solid">&nbsp;</TD>
    <TD STYLE="border-top: #8ED973 0.5pt solid; border-right: #8ED973 0.5pt solid; border-bottom: #8ED973 0.5pt solid; text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: #DAF2D0">
    <TD STYLE="padding-right: 204px; border-top: #8ED973 0.5pt solid; border-bottom: #8ED973 0.5pt solid; border-left: #8ED973 0.5pt solid; text-align: right">129,000</TD>
    <TD STYLE="border-top: #8ED973 0.5pt solid; border-bottom: #8ED973 0.5pt solid">SBM Offshore N.V.</TD>
    <TD STYLE="border-top: #8ED973 0.5pt solid; border-right: #8ED973 0.5pt solid; border-bottom: #8ED973 0.5pt solid; text-align: right">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2,354,203</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-weight: bold; border-top: #8ED973 0.5pt solid; border-bottom: #8ED973 0.5pt solid; border-left: #8ED973 0.5pt solid">Real Estate Owners &amp; Developers &ndash; 2.51%</TD>
    <TD STYLE="border-top: #8ED973 0.5pt solid; border-bottom: #8ED973 0.5pt solid">&nbsp;</TD>
    <TD STYLE="border-top: #8ED973 0.5pt solid; border-right: #8ED973 0.5pt solid; border-bottom: #8ED973 0.5pt solid; text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: #DAF2D0">
    <TD STYLE="padding-right: 204px; border-top: #8ED973 0.5pt solid; border-bottom: #8ED973 0.5pt solid; border-left: #8ED973 0.5pt solid; text-align: right">48,412</TD>
    <TD STYLE="border-top: #8ED973 0.5pt solid; border-bottom: #8ED973 0.5pt solid">Corporacion Inmobilaria Vesta SAB de CV ADR</TD>
    <TD STYLE="border-top: #8ED973 0.5pt solid; border-right: #8ED973 0.5pt solid; border-bottom: #8ED973 0.5pt solid; text-align: right">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1,304,219</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-weight: bold; border-top: #8ED973 0.5pt solid; border-bottom: #8ED973 0.5pt solid; border-left: #8ED973 0.5pt solid">Retail &ndash; 2.54%</TD>
    <TD STYLE="border-top: #8ED973 0.5pt solid; border-bottom: #8ED973 0.5pt solid">&nbsp;</TD>
    <TD STYLE="border-top: #8ED973 0.5pt solid; border-right: #8ED973 0.5pt solid; border-bottom: #8ED973 0.5pt solid; text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: #DAF2D0">
    <TD STYLE="padding-right: 204px; border-top: #8ED973 0.5pt solid; border-bottom: #8ED973 0.5pt solid; border-left: #8ED973 0.5pt solid; text-align: right">14,270</TD>
    <TD STYLE="border-top: #8ED973 0.5pt solid; border-bottom: #8ED973 0.5pt solid">Grupo Elektra, S.A.B. de C.V. Series CPO</TD>
    <TD STYLE="border-top: #8ED973 0.5pt solid; border-right: #8ED973 0.5pt solid; border-bottom: #8ED973 0.5pt solid; text-align: right">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;684,906</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 204px; border-top: #8ED973 0.5pt solid; border-bottom: #8ED973 0.5pt solid; border-left: #8ED973 0.5pt solid; text-align: right">210,222</TD>
    <TD STYLE="border-top: #8ED973 0.5pt solid; border-bottom: #8ED973 0.5pt solid">Wal-Mart de M&eacute;xico, S.A.B. de C.V. Series V</TD>
    <TD STYLE="border-top: #8ED973 0.5pt solid; border-right: #8ED973 0.5pt solid; border-bottom: #8ED973 0.5pt solid; text-align: right">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;634,360</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: #DAF2D0">
    <TD STYLE="font-weight: bold; border-top: #8ED973 0.5pt solid; border-bottom: #8ED973 0.5pt solid; border-left: #8ED973 0.5pt solid"></TD></TR></TABLE>

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<TABLE BORDER="0" CELLPADDING="0" CELLSPACING="0" STYLE="font: 11pt Aptos Narrow; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: bottom; background-color: #DAF2D0">
    <TD STYLE="border-top: #8ED973 0.5pt solid; border-bottom: #8ED973 0.5pt solid; border-left: #8ED973 0.5pt solid; font-weight: bold; width: 35%">Transportation Infrastructure &ndash; 1.51%</TD>
    <TD STYLE="border-top: #8ED973 0.5pt solid; border-bottom: #8ED973 0.5pt solid; width: 49%">&nbsp;</TD>
    <TD STYLE="border-top: #8ED973 0.5pt solid; border-right: #8ED973 0.5pt solid; border-bottom: #8ED973 0.5pt solid; text-align: right; width: 16%">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 204px; border-top: #8ED973 0.5pt solid; border-bottom: #8ED973 0.5pt solid; border-left: #8ED973 0.5pt solid; text-align: right">2,775</TD>
    <TD STYLE="border-top: #8ED973 0.5pt solid; border-bottom: #8ED973 0.5pt solid">Grupo Aeroportuario ADR</TD>
    <TD STYLE="border-top: #8ED973 0.5pt solid; border-right: #8ED973 0.5pt solid; border-bottom: #8ED973 0.5pt solid; text-align: right">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;784,659</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: #DAF2D0">
    <TD STYLE="font-weight: bold; border-top: #8ED973 0.5pt solid; border-bottom: #8ED973 0.5pt solid; border-left: #8ED973 0.5pt solid">Trucking and Marine Freight &ndash; 0.83%</TD>
    <TD STYLE="border-top: #8ED973 0.5pt solid; border-bottom: #8ED973 0.5pt solid">&nbsp;</TD>
    <TD STYLE="border-top: #8ED973 0.5pt solid; border-right: #8ED973 0.5pt solid; border-bottom: #8ED973 0.5pt solid; text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 204px; border-top: #8ED973 0.5pt solid; border-bottom: #8ED973 0.5pt solid; border-left: #8ED973 0.5pt solid; text-align: right">137</TD>
    <TD STYLE="border-top: #8ED973 0.5pt solid; border-bottom: #8ED973 0.5pt solid">Seaboard Corporation</TD>
    <TD STYLE="border-top: #8ED973 0.5pt solid; border-right: #8ED973 0.5pt solid; border-bottom: #8ED973 0.5pt solid; text-align: right">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;429,769</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: #DAF2D0">
    <TD STYLE="font-weight: bold; border-top: #8ED973 0.5pt solid; border-bottom: #8ED973 0.5pt solid; border-left: #8ED973 0.5pt solid">Utilities &ndash; 7.60%</TD>
    <TD STYLE="border-top: #8ED973 0.5pt solid; border-bottom: #8ED973 0.5pt solid">&nbsp;</TD>
    <TD STYLE="border-top: #8ED973 0.5pt solid; border-right: #8ED973 0.5pt solid; border-bottom: #8ED973 0.5pt solid; text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 204px; border-top: #8ED973 0.5pt solid; border-bottom: #8ED973 0.5pt solid; border-left: #8ED973 0.5pt solid; text-align: right">23,200</TD>
    <TD STYLE="border-top: #8ED973 0.5pt solid; border-bottom: #8ED973 0.5pt solid">Caribbean Utilies Ltd. Class A</TD>
    <TD STYLE="border-top: #8ED973 0.5pt solid; border-right: #8ED973 0.5pt solid; border-bottom: #8ED973 0.5pt solid; text-align: right">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;324,800</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: #DAF2D0">
    <TD STYLE="padding-right: 204px; border-top: #8ED973 0.5pt solid; border-bottom: #8ED973 0.5pt solid; border-left: #8ED973 0.5pt solid; text-align: right">6,092</TD>
    <TD STYLE="border-top: #8ED973 0.5pt solid; border-bottom: #8ED973 0.5pt solid">Consolidated Water Company Ltd.</TD>
    <TD STYLE="border-top: #8ED973 0.5pt solid; border-right: #8ED973 0.5pt solid; border-bottom: #8ED973 0.5pt solid; text-align: right">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;153,579</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 204px; border-top: #8ED973 0.5pt solid; border-bottom: #8ED973 0.5pt solid; border-left: #8ED973 0.5pt solid; text-align: right">700</TD>
    <TD STYLE="border-top: #8ED973 0.5pt solid; border-bottom: #8ED973 0.5pt solid">Cuban Electric Company*<FONT STYLE="font-family: Aptos Narrow, sans-serif; font-size: 11pt; font-style: normal; font-weight: 400"><SUP>1</SUP></FONT></TD>
    <TD STYLE="border-top: #8ED973 0.5pt solid; border-right: #8ED973 0.5pt solid; border-bottom: #8ED973 0.5pt solid; text-align: right">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;-&nbsp;&nbsp;&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: #DAF2D0">
    <TD STYLE="padding-right: 204px; border-top: #8ED973 0.5pt solid; border-bottom: #8ED973 0.5pt solid; border-left: #8ED973 0.5pt solid; text-align: right">26,697</TD>
    <TD STYLE="border-top: #8ED973 0.5pt solid; border-bottom: #8ED973 0.5pt solid">NextEra Energy, Inc.</TD>
    <TD STYLE="border-top: #8ED973 0.5pt solid; border-right: #8ED973 0.5pt solid; border-bottom: #8ED973 0.5pt solid; text-align: right">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2,256,697</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 204px; border-top: #8ED973 0.5pt solid; border-bottom: #8ED973 0.5pt solid; border-left: #8ED973 0.5pt solid; text-align: right">133,602</TD>
    <TD STYLE="border-top: #8ED973 0.5pt solid; border-bottom: #8ED973 0.5pt solid">New Fortress Energy, Inc., Class A</TD>
    <TD STYLE="border-top: #8ED973 0.5pt solid; border-right: #8ED973 0.5pt solid; border-bottom: #8ED973 0.5pt solid; text-align: right">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1,214,442</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: #DAF2D0">
    <TD STYLE="font-weight: bold; border-top: #8ED973 0.5pt solid; border-bottom: #8ED973 0.5pt solid; border-left: #8ED973 0.5pt solid">Other &ndash; 0.81%</TD>
    <TD STYLE="border-top: #8ED973 0.5pt solid; border-bottom: #8ED973 0.5pt solid">&nbsp;</TD>
    <TD STYLE="border-top: #8ED973 0.5pt solid; border-right: #8ED973 0.5pt solid; border-bottom: #8ED973 0.5pt solid; text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 204px; border-top: #8ED973 0.5pt solid; border-bottom: #8ED973 0.5pt solid; border-left: #8ED973 0.5pt solid; text-align: right">55,921</TD>
    <TD STYLE="border-top: #8ED973 0.5pt solid; border-bottom: #8ED973 0.5pt solid">Margo Caribe, Inc.*</TD>
    <TD STYLE="border-top: #8ED973 0.5pt solid; border-right: #8ED973 0.5pt solid; border-bottom: #8ED973 0.5pt solid; text-align: right">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;419,408</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: #DAF2D0">
    <TD STYLE="padding-right: 204px; border-top: #8ED973 0.5pt solid; border-bottom: #8ED973 0.5pt solid; border-left: #8ED973 0.5pt solid; text-align: right">79</TD>
    <TD STYLE="border-top: #8ED973 0.5pt solid; border-bottom: #8ED973 0.5pt solid">Siderurgica Venezolana Sivensa, S.A. Series B*<FONT STYLE="font-family: Aptos Narrow, sans-serif; font-size: 11pt; font-style: normal; font-weight: 400"><SUP>1</SUP></FONT></TD>
    <TD STYLE="border-top: #8ED973 0.5pt solid; border-right: #8ED973 0.5pt solid; border-bottom: #8ED973 0.5pt solid; text-align: right">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;-&nbsp;&nbsp;&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-top: #8ED973 0.5pt solid; border-bottom: #8ED973 0.5pt solid; border-left: #8ED973 0.5pt solid">&nbsp;</TD>
    <TD STYLE="border-top: #8ED973 0.5pt solid; border-bottom: #8ED973 0.5pt solid">&nbsp;</TD>
    <TD STYLE="border-top: #8ED973 0.5pt solid; border-right: #8ED973 0.5pt solid; border-bottom: #8ED973 0.5pt solid; text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: #DAF2D0">
    <TD STYLE="border-top: #8ED973 0.5pt solid; border-bottom: #8ED973 0.5pt solid; border-left: #8ED973 0.5pt solid">&nbsp;</TD>
    <TD STYLE="border-top: #8ED973 0.5pt solid; border-bottom: #8ED973 0.5pt solid">&nbsp;</TD>
    <TD STYLE="border-top: #8ED973 0.5pt solid; border-right: #8ED973 0.5pt solid; border-bottom: #8ED973 0.5pt solid; text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-weight: bold; border-top: #8ED973 0.5pt solid; border-bottom: #8ED973 0.5pt solid; border-left: #8ED973 0.5pt solid">Total common stocks</TD>
    <TD STYLE="border-top: #8ED973 0.5pt solid; border-bottom: #8ED973 0.5pt solid">(cost $36,004,407)</TD>
    <TD STYLE="font-weight: bold; border-top: #8ED973 0.5pt solid; border-right: #8ED973 0.5pt solid; border-bottom: Black 1pt solid; text-align: right">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;51,508,431</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: #DAF2D0">
    <TD STYLE="border-top: #8ED973 0.5pt solid; border-bottom: #8ED973 0.5pt solid; border-left: #8ED973 0.5pt solid">&nbsp;</TD>
    <TD STYLE="border-top: #8ED973 0.5pt solid; border-bottom: #8ED973 0.5pt solid">&nbsp;</TD>
    <TD STYLE="border-top: #8ED973 0.5pt solid; border-right: #8ED973 0.5pt solid; border-bottom: #8ED973 0.5pt solid; text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-weight: bold; border-top: #8ED973 0.5pt solid; border-bottom: #8ED973 0.5pt solid; border-left: #8ED973 0.5pt solid">Bonds &ndash; 0% of net assets</TD>
    <TD STYLE="border-top: #8ED973 0.5pt solid; border-bottom: #8ED973 0.5pt solid">&nbsp;</TD>
    <TD STYLE="border-top: #8ED973 0.5pt solid; border-right: #8ED973 0.5pt solid; border-bottom: #8ED973 0.5pt solid; text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: #DAF2D0">
    <TD STYLE="padding-right: 204px; border-top: #8ED973 0.5pt solid; border-bottom: #8ED973 0.5pt solid; border-left: #8ED973 0.5pt solid; text-align: right">165,000</TD>
    <TD STYLE="border-top: #8ED973 0.5pt solid; border-bottom: #8ED973 0.5pt solid">Republic of Cuba - 4.5%, 1977 - in default*<FONT STYLE="font-family: Aptos Narrow, sans-serif; font-size: 11pt; font-style: normal; font-weight: 400"><SUP>1</SUP></FONT></TD>
    <TD STYLE="border-top: #8ED973 0.5pt solid; border-right: #8ED973 0.5pt solid; border-bottom: Black 1pt solid; text-align: right">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;-&nbsp;&nbsp;&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-weight: bold; border-top: #8ED973 0.5pt solid; border-bottom: #8ED973 0.5pt solid; border-left: #8ED973 0.5pt solid">Total bonds</TD>
    <TD STYLE="border-top: #8ED973 0.5pt solid; border-bottom: #8ED973 0.5pt solid">(cost $63,038)</TD>
    <TD STYLE="border-top: #8ED973 0.5pt solid; border-right: #8ED973 0.5pt solid; border-bottom: Black 1pt solid; text-align: right">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;-&nbsp;&nbsp;&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: #DAF2D0">
    <TD STYLE="font-weight: bold; border-top: #8ED973 0.5pt solid; border-bottom: #8ED973 0.5pt solid; border-left: #8ED973 0.5pt solid">&nbsp;</TD>
    <TD STYLE="border-top: #8ED973 0.5pt solid; border-bottom: #8ED973 0.5pt solid">&nbsp;</TD>
    <TD STYLE="border-top: #8ED973 0.5pt solid; border-right: #8ED973 0.5pt solid; border-bottom: #8ED973 0.5pt solid; text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-weight: bold; border-top: #8ED973 0.5pt solid; border-bottom: #8ED973 0.5pt solid; border-left: #8ED973 0.5pt solid">Rights &ndash; 0% of net assets<FONT STYLE="font-family: Aptos Narrow, sans-serif; font-size: 11pt; font-style: normal; font-weight: 700"><SUP>2</SUP></FONT></TD>
    <TD STYLE="border-top: #8ED973 0.5pt solid; border-bottom: #8ED973 0.5pt solid">&nbsp;</TD>
    <TD STYLE="border-top: #8ED973 0.5pt solid; border-right: #8ED973 0.5pt solid; border-bottom: #8ED973 0.5pt solid; text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: #DAF2D0">
    <TD STYLE="padding-right: 204px; border-top: #8ED973 0.5pt solid; border-bottom: #8ED973 0.5pt solid; border-left: #8ED973 0.5pt solid; text-align: right">23,200</TD>
    <TD STYLE="border-top: #8ED973 0.5pt solid; border-bottom: #8ED973 0.5pt solid">Caribbean Utilities Rights, expiring 10/31/2024</TD>
    <TD STYLE="border-top: #8ED973 0.5pt solid; border-right: #8ED973 0.5pt solid; border-bottom: Black 1pt solid; text-align: right">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;232</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-weight: bold; border-top: #8ED973 0.5pt solid; border-bottom: #8ED973 0.5pt solid; border-left: #8ED973 0.5pt solid">Total rights</TD>
    <TD STYLE="border-top: #8ED973 0.5pt solid; border-bottom: #8ED973 0.5pt solid">(cost $792)&nbsp;&nbsp;&nbsp;</TD>
    <TD STYLE="font-weight: bold; border-top: #8ED973 0.5pt solid; border-right: #8ED973 0.5pt solid; border-bottom: Black 1pt solid; text-align: right">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;232</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: #DAF2D0">
    <TD STYLE="border-top: #8ED973 0.5pt solid; border-bottom: #8ED973 0.5pt solid; border-left: #8ED973 0.5pt solid">&nbsp;</TD>
    <TD STYLE="border-top: #8ED973 0.5pt solid; border-bottom: #8ED973 0.5pt solid">&nbsp;</TD>
    <TD STYLE="border-top: #8ED973 0.5pt solid; border-right: #8ED973 0.5pt solid; border-bottom: #8ED973 0.5pt solid; text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-weight: bold; border-top: #8ED973 0.5pt solid; border-bottom: #8ED973 0.5pt solid; border-left: #8ED973 0.5pt solid">Money Market Funds &ndash; 0.81%</TD>
    <TD STYLE="border-top: #8ED973 0.5pt solid; border-bottom: #8ED973 0.5pt solid">&nbsp;</TD>
    <TD STYLE="border-top: #8ED973 0.5pt solid; border-right: #8ED973 0.5pt solid; border-bottom: #8ED973 0.5pt solid; text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: #DAF2D0">
    <TD STYLE="padding-right: 204px; border-top: #8ED973 0.5pt solid; border-bottom: #8ED973 0.5pt solid; border-left: #8ED973 0.5pt solid; text-align: right">423,635</TD>
    <TD STYLE="border-top: #8ED973 0.5pt solid; border-bottom: #8ED973 0.5pt solid">Federated Hermes Government Obligations Fund,&nbsp;</TD>
    <TD STYLE="border-top: #8ED973 0.5pt solid; border-right: #8ED973 0.5pt solid; border-bottom: #8ED973 0.5pt solid; text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-top: #8ED973 0.5pt solid; border-bottom: #8ED973 0.5pt solid; border-left: #8ED973 0.5pt solid">&nbsp;</TD>
    <TD STYLE="border-top: #8ED973 0.5pt solid; border-bottom: #8ED973 0.5pt solid">Institutional Class, 4.79%<FONT STYLE="font-family: Aptos Narrow, sans-serif; font-size: 11pt; font-style: normal; font-weight: 400"><SUP>3</SUP></FONT></TD>
    <TD STYLE="border-top: #8ED973 0.5pt solid; border-right: #8ED973 0.5pt solid; border-bottom: Black 1pt solid; text-align: right">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;423,635</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: #DAF2D0">
    <TD STYLE="border-top: #8ED973 0.5pt solid; border-bottom: #8ED973 0.5pt solid; border-left: #8ED973 0.5pt solid">&nbsp;</TD>
    <TD STYLE="border-top: #8ED973 0.5pt solid; border-bottom: #8ED973 0.5pt solid">&nbsp;</TD>
    <TD STYLE="border-top: #8ED973 0.5pt solid; border-right: #8ED973 0.5pt solid; border-bottom: #8ED973 0.5pt solid; text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-weight: bold; border-top: #8ED973 0.5pt solid; border-bottom: #8ED973 0.5pt solid; border-left: #8ED973 0.5pt solid">Total money market funds</TD>
    <TD STYLE="border-top: #8ED973 0.5pt solid; border-bottom: #8ED973 0.5pt solid">(cost $423,635)&nbsp;&nbsp;&nbsp;</TD>
    <TD STYLE="font-weight: bold; border-top: #8ED973 0.5pt solid; border-right: #8ED973 0.5pt solid; border-bottom: Black 1pt solid; text-align: right; background-color: #8ED973">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;423,635</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: #DAF2D0">
    <TD STYLE="border-top: #8ED973 0.5pt solid; border-bottom: #8ED973 0.5pt solid; border-left: #8ED973 0.5pt solid">&nbsp;</TD>
    <TD STYLE="border-top: #8ED973 0.5pt solid; border-bottom: #8ED973 0.5pt solid">&nbsp;</TD>
    <TD STYLE="font-weight: bold; border-top: #8ED973 0.5pt solid; border-right: #8ED973 0.5pt solid; border-bottom: #8ED973 0.5pt solid; text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-weight: bold; border-top: #8ED973 0.5pt solid; border-bottom: #8ED973 0.5pt solid; border-left: #8ED973 0.5pt solid">Total investments</TD>
    <TD STYLE="border-top: #8ED973 0.5pt solid; border-bottom: #8ED973 0.5pt solid">(cost $36,491,872) &ndash; 99.87<FONT STYLE="font-family: Aptos Narrow, sans-serif; font-size: 11pt; font-style: normal; font-weight: 700">%</FONT> <FONT STYLE="font-family: Aptos Narrow, sans-serif; font-size: 11pt; font-style: normal; font-weight: 400">of net assets</FONT></TD>
    <TD STYLE="font-weight: bold; border-top: #8ED973 0.5pt solid; border-right: #8ED973 0.5pt solid; border-bottom: Black 1pt solid; text-align: right; background-color: #8ED973">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;51,932,298</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: #DAF2D0">
    <TD STYLE="border-top: #8ED973 0.5pt solid; border-bottom: #8ED973 0.5pt solid; border-left: #8ED973 0.5pt solid">&nbsp;</TD>
    <TD STYLE="border-top: #8ED973 0.5pt solid; border-bottom: #8ED973 0.5pt solid">&nbsp;</TD>
    <TD STYLE="font-weight: bold; border-top: #8ED973 0.5pt solid; border-right: #8ED973 0.5pt solid; border-bottom: #8ED973 0.5pt solid; text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-weight: bold; border-top: #8ED973 0.5pt solid; border-bottom: #8ED973 0.5pt solid; border-left: #8ED973 0.5pt solid">Other assets in excess of liabilities -</TD>
    <TD STYLE="border-top: #8ED973 0.5pt solid; border-bottom: #8ED973 0.5pt solid">0.13% of net assets</TD>
    <TD STYLE="font-weight: bold; border-top: #8ED973 0.5pt solid; border-right: #8ED973 0.5pt solid; border-bottom: Black 1pt solid; text-align: right; background-color: #8ED973">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;67,708</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: #DAF2D0">
    <TD STYLE="border-top: #8ED973 0.5pt solid; border-bottom: #8ED973 0.5pt solid; border-left: #8ED973 0.5pt solid">&nbsp;</TD>
    <TD STYLE="border-top: #8ED973 0.5pt solid; border-bottom: #8ED973 0.5pt solid">&nbsp;</TD>
    <TD STYLE="font-weight: bold; border-top: #8ED973 0.5pt solid; border-right: #8ED973 0.5pt solid; border-bottom: #8ED973 0.5pt solid; text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-weight: bold; border-top: #8ED973 0.5pt solid; border-bottom: #8ED973 0.5pt solid; border-left: #8ED973 0.5pt solid">Net assets -</TD>
    <TD STYLE="border-top: #8ED973 0.5pt solid; border-bottom: #8ED973 0.5pt solid; text-align: left">100%</TD>
    <TD STYLE="font-weight: bold; border-top: #8ED973 0.5pt solid; border-right: #8ED973 0.5pt solid; border-bottom: Black 1pt solid; text-align: right; background-color: #8ED973">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;52,000,006</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: #DAF2D0">
    <TD STYLE="border-top: #8ED973 0.5pt solid; border-bottom: #8ED973 0.5pt solid; border-left: #8ED973 0.5pt solid">&nbsp;</TD>
    <TD STYLE="border-top: #8ED973 0.5pt solid; border-bottom: #8ED973 0.5pt solid">&nbsp;</TD>
    <TD STYLE="border-top: #8ED973 0.5pt solid; border-right: #8ED973 0.5pt solid; border-bottom: #8ED973 0.5pt solid; text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-top: #8ED973 0.5pt solid; border-bottom: #8ED973 0.5pt solid; border-left: #8ED973 0.5pt solid">&nbsp;</TD>
    <TD STYLE="border-top: #8ED973 0.5pt solid; border-bottom: #8ED973 0.5pt solid">&nbsp;</TD>
    <TD STYLE="border-top: #8ED973 0.5pt solid; border-right: #8ED973 0.5pt solid; border-bottom: #8ED973 0.5pt solid; text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: #DAF2D0">
    <TD COLSPAN="2" STYLE="border-top: #8ED973 0.5pt solid; border-bottom: #8ED973 0.5pt solid; border-left: #8ED973 0.5pt solid"><FONT STYLE="font-family: Aptos Narrow, sans-serif; font-size: 11pt; font-style: normal; font-weight: 400"><SUP>1 </SUP>&nbsp;&nbsp;&nbsp;&nbsp;Securities have been fair valued in good faith, by the Adviser as &quot;valuation designee&quot;, using fair value</FONT></TD>
    <TD STYLE="border-top: #8ED973 0.5pt solid; border-right: #8ED973 0.5pt solid; border-bottom: #8ED973 0.5pt solid; text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD COLSPAN="2" STYLE="border-top: #8ED973 0.5pt solid; border-bottom: #8ED973 0.5pt solid; border-left: #8ED973 0.5pt solid">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;methodology approved by the Board of Directors. Fair valued securities comprised 3.98% of net assets.</TD>
    <TD STYLE="border-top: #8ED973 0.5pt solid; border-right: #8ED973 0.5pt solid; border-bottom: #8ED973 0.5pt solid; text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: #DAF2D0">
    <TD STYLE="border-top: #8ED973 0.5pt solid; border-bottom: #8ED973 0.5pt solid; border-left: #8ED973 0.5pt solid"><FONT STYLE="font-family: Aptos Narrow, sans-serif; font-size: 11pt; font-style: normal; font-weight: 400"><SUP>2 </SUP>&nbsp;&nbsp;&nbsp;Rounds to less than 0.05%.</FONT></TD>
    <TD STYLE="border-top: #8ED973 0.5pt solid; border-bottom: #8ED973 0.5pt solid">&nbsp;</TD>
    <TD STYLE="border-top: #8ED973 0.5pt solid; border-right: #8ED973 0.5pt solid; border-bottom: #8ED973 0.5pt solid; text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD COLSPAN="2" STYLE="border-top: #8ED973 0.5pt solid; border-bottom: #8ED973 0.5pt solid; border-left: #8ED973 0.5pt solid"><FONT STYLE="font-family: Aptos Narrow, sans-serif; font-size: 11pt; font-style: normal; font-weight: 400"><SUP>3</SUP>&nbsp;&nbsp;&nbsp;&nbsp;Rate disclosed is the seven day effective yield as of September 30, 2024.</FONT></TD>
    <TD STYLE="border-top: #8ED973 0.5pt solid; border-right: #8ED973 0.5pt solid; border-bottom: #8ED973 0.5pt solid; text-align: right">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: #DAF2D0">
    <TD STYLE="border-top: #8ED973 0.5pt solid; border-bottom: #8ED973 0.5pt solid; border-left: #8ED973 0.5pt solid">*&nbsp;&nbsp;&nbsp;Non-income producing</TD>
    <TD STYLE="border-top: #8ED973 0.5pt solid; border-bottom: #8ED973 0.5pt solid">&nbsp;</TD>
    <TD STYLE="border-top: #8ED973 0.5pt solid; border-right: #8ED973 0.5pt solid; border-bottom: #8ED973 0.5pt solid; text-align: right">&nbsp;</TD></TR>
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    <TD STYLE="border-top: #8ED973 0.5pt solid; border-bottom: #8ED973 0.5pt solid; border-left: #8ED973 0.5pt solid; text-align: left">&nbsp;</TD>
    <TD STYLE="border-top: #8ED973 0.5pt solid; border-bottom: #8ED973 0.5pt solid; text-align: left">&nbsp;</TD>
    <TD STYLE="border-top: #8ED973 0.5pt solid; border-right: #8ED973 0.5pt solid; border-bottom: #8ED973 0.5pt solid; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: #DAF2D0">
    <TD STYLE="border-top: #8ED973 0.5pt solid; border-bottom: #8ED973 0.5pt solid; border-left: #8ED973 0.5pt solid">&nbsp;</TD>
    <TD STYLE="border-top: #8ED973 0.5pt solid; border-bottom: #8ED973 0.5pt solid">&nbsp;</TD>
    <TD STYLE="border-top: #8ED973 0.5pt solid; border-right: #8ED973 0.5pt solid; border-bottom: #8ED973 0.5pt solid">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD COLSPAN="2" STYLE="font-weight: bold; font-style: italic; font-family: Times New Roman, Times, Serif; border-top: #8ED973 0.5pt solid; border-bottom: #8ED973 0.5pt solid; border-left: #8ED973 0.5pt solid">See accompanying notes to the financial statements.</TD>
    <TD STYLE="border-top: #8ED973 0.5pt solid; border-right: #8ED973 0.5pt solid; border-bottom: #8ED973 0.5pt solid">&nbsp;</TD></TR>
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