NPORT-EX 2 herzfeld-soi.htm SOI
     
     
Herzfeld Caribbean Basin Fund, Inc.    
Schedule of Investments as of March 31, 2025 (Unaudited)  
     
Shares or Principal Amount Description Fair Value
     
Common Stocks – 66.47% of net assets  
     
Airlines – 1.71%    
8,250 Copa Holdings, S.A.                        762,795
Banking and Finance – 21.84%    
70,089 Banco Latinoamericano de Comercio Exterior, S.A.                    2,565,257
170,000 Evermore Bank*1                    2,040,000
88,690 First BanCorp. (Puerto Rico)                    1,700,187
43,454 OFG Bancorp                    1,739,029
18,598 Popular, Inc.                    1,717,897
Communications – 0.08%    
427,559 Fuego Enterprises, Inc.*                             4,276
207,033 Grupo Radio Centro S.A.B. de C.V.*1                          32,369
Construction and Related – 12.39%    
20 Ceramica Carabobo Class A ADR*1                                    -   
1,840 Martin Marietta Materials, Inc.                        879,759
29,872 MasTec, Inc.*                    3,486,362
5,019 Vulcan Materials Company                    1,170,933
Investment Companies – 0.05%    
70,000 Waterloo Investment Holdings Ltd.*1                          24,500
Leisure – 12.06%    
52,657 Carnival Corporation*                    1,028,391
 
 

 

94,207 Norwegian Cruse Line Holdings Ltd.*                    1,786,165
35,000 OneSpaWorld Holdings Ltd.                        587,650
9,666 Royal Caribbean Cruises Ltd.                    1,985,783
Machinery – 0.04%    
30,568 Grupo Rotoplas S.A.B. de C.V.                          17,818
Oil & Gas Services & Equipment – 6.15%    
129,000 SBM Offshore N.V.                    2,748,036
Retail – 1.48%    
39,270 Grupo Elektra, S.A.B. de C.V. Series CPO*                        660,003
Utilities – 9.70%    
67,520 Caribbean Utilies Ltd. Class A                        874,384
6,092 Consolidated Water Company Ltd.                        149,193
700 Cuban Electric Company*1                                    -   
46,697 NextEra Energy, Inc.                    3,310,350
Other – 0.97%    
55,921 Margo Caribe, Inc.*                        433,388
79 Siderurgica Venezolana Sivensa, S.A. Series B*1                                    -   
     
Total common stocks (cost $17,865,357)                  29,704,525
     
 
 

 

Exchange-Traded Funds – 10.78% of net assets  
42,063 AdvisorShares Ranger Equity Bear ETF                        749,563
24,606 ProShares Short QQQ                        999,742
86,805 ProShares UltraShort Consumer Discretionary                    1,023,431
48,007 ProShares UltraShort® S&P500                    1,030,230
70,133 Tuttle Capital Daily 2X Inverse Regional Banks ETF                    1,014,123
     
Total exchange-traded funds (cost $4,853,323)                    4,817,089
     
Bonds – 0.00% of net assets Republic of Cuba - 4.5%, 1977 - in default*1     
165,000                                      -   
     
Total bonds (cost $63,038)                                    -   
     
Money Market Funds – 22.06% of net assets  
9,859,588 Federated Hermes Government Obligations Fund,  
  Institutional Class, 4.21%2                    9,859,588
     
Total money market funds (cost $9,859,588)                       9,859,588
     
Total investments (cost $32,641,306) – 99.31% of net assets  $              44,381,202
     
Liabilities in excess of other assets - 0.69% of net assets                        307,016
     
Net assets - 100%  $              44,688,218
     
     
1     Securities have been fair valued in good faith, by the Advisor as "valuation designee", using fair value
      methodology approved by the Board of Directors. Fair valued securities comprised 4.69% of net assets.
2    Rate disclosed is the seven day effective yield as of March 31, 2025.  
*   Non-income producing