NPORT-EX 2 nport_herzfeld.htm HERZ

Herzfeld Credit Income Fund, Inc.
Schedule of Investments as of September 30, 2025 (Unaudited)
Shares or Principal Amount		Description		Fair Value
Common Stocks –		7.04% of net assets
Banking and Finance – 4.53%
170,000		Evermore Bank*1		2,040,000
Communications – 0.08%
327,559		Fuego Enterprises, Inc.*1		327
207,033		Grupo Radio Centro S.A.B. de C.V.*1		36,169
Construction and Related – 0.00%
20		Ceramica Carabobo Class A ADR*1		-
Investment Companies – 0.05%
70,000		Waterloo Investment Holdings Ltd.*1		24,500
Utilities – 1.33%
44,320		Caribbean Utilies Ltd. Class A		599,650
700		Cuban Electric Company*1		-
Other – 1.05%
55,421		Margo Caribe, Inc.*		471,079
79		Siderurgica Venezolana Sivensa, S.A. Series B*1		-
Total common stocks		(cost $3,037,511)		3,171,725
Closed-End Funds – 0.43% of net assets
33,684		Carlyle Credit Income Fund		196,041
Total closed-end funds		(cost $186,579)		196,041
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 – 92.54%		of net assets
41,711,327		Federated Hermes Government Obligations Fund,
		Institutional Class, 4.01%2		41,711,327
Total money market funds		(cost $41,711,327)		41,711,327
Total investments		(cost $44,998,455) – 100.01% of net assets		$             45,079,093
Liabilities in excess of other assets		(0.01)% of net assets		(5,823)
Net assets -		100%		$             45,073,270
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 4.66% of net assets.
2    Rate disclosed is the seven day effective yield as of September 30, 2025.
*   Non-income producing