Thomas J. Herzfeld Advisors, Inc.
In its 13F for Q2 2026 (holdings as of June 30, 2026, filed August 10, 2026), Thomas J. Herzfeld Advisors, Inc. reported 123 stock positions worth $325.7 million. Its top holding was FS Specialty Lending Fund (FSSL) at 9.9% of the portfolio, followed by PIMCO Dynamic Income Strat (PDX, 7.0%) and FS Credit Opportunities (FSCO, 6.0%). Compared with Q1 2026, it opened 30 new positions, sold out of 17, added to 58 and reduced 21. The biggest buy was a new position in Pershing Square USA (PSUS) and the biggest sale an exit from Proshares Short High Yield (SJB).
- Most Recent 13F
- Q2 2026
- Location
- MIAMI BEACH, FL
- CIK
- 0001509510
- Portfolio Value
- $325.7M (Q2 2026)
- SEC Filing
- 0001398344-26-013942 ↗ filed Aug 10, 2026
Holdings Value
Holdings 123 stocks · $325.7M
| FSSL FS Specialty Lending Fund | 9.93% | 2,900,663 | $32.3M | Add +3.3% |
| PDX PIMCO Dynamic Income Strat | 7.00% | 1,095,075 | $22.8M | Reduce -12.6% |
| FSCO FS Credit Opportunities Corp. | 6.01% | 3,921,573 | $19.6M | Add +6.6% |
| HFRO Highland Opport & Income | 5.86% | 2,676,474 | $19.1M | Reduce -1.4% |
| GOF Guggenheim Strategic Opport | 4.48% | 1,336,680 | $14.6M | Add +31.6% |
| HERZ Herzfeld Credit Income Fund | 4.32% | 817,534 | $14.1M | Add +1.3% |
| PSUS Pershing Square USA Ltd. | 3.28% | 285,421 | $10.7M | New |
| BRW Saba Capital Income & Opport | 3.12% | 1,544,694 | $10.1M | Add +9.0% |
| NSLR Neostellar Capital Corp. filed as SURO CAPITAL CORP | 3.04% | 788,403 | $9.9M | Add +2324.5% |
| EIC Eagle Point Income Co.-USA Inc. | 2.77% | 897,140 | $9.0M | Add +127.7% |
| JFR Nuveen Floating Rate Income | 2.62% | 1,111,921 | $8.5M | Add +55.9% |
| SABA Saba Capital Income & Opp II | 2.29% | 891,603 | $7.4M | Add +15.1% |
| STK Columbia Slgmn Prem Tech GR | 2.14% | 129,150 | $7.0M | Add +95.0% |
| PDI PIMCO Dynamic Income Fund | 1.99% | 388,727 | $6.5M | Add +151.0% |
| DPG Duff & Phelps Utility & Inc. | 1.64% | 360,644 | $5.4M | Reduce -7.9% |
| BSTZ BlackRock Sci & Tech TRM TR | 1.53% | 166,033 | $5.0M | Add +100.8% |
| RA Brookfield Real Assets Incom | 1.46% | 369,085 | $4.8M | Add +8.3% |
| BTX BlackRock Tech & Priv Eqty | 1.43% | 515,402 | $4.7M | Add +83.6% |
| TWN Taiwan Fund Inc./TH/MD-US Inc. | 1.40% | 47,520 | $4.6M | Add +14.5% |
| PAXS PIMCO Access Income Fund | 1.39% | 311,965 | $4.5M | Reduce -29.1% |
| TYG Tortoise Energy Infrastruct | 1.32% | 100,275 | $4.3M | New |
| BPRE Bluerock Private Real Estate | 1.21% | 303,336 | $3.9M | Reduce -16.3% |
| KYN Kayne Anderson Energy Infra | 1.17% | 276,097 | $3.8M | Add +17.9% |
| KF Korea Fund Inc. | 1.15% | 49,834 | $3.7M | Add +13014.2% |
| EMO Clearbridge Energy Midstream | 1.12% | 73,130 | $3.7M | Add +23.9% |
| NML Neuberger Energy Infrastruct | 1.10% | 352,764 | $3.6M | Add +9.0% |
| BGR BlackRock Enrgy & Res TR | 1.08% | 238,075 | $3.5M | Add +31.4% |
| XFLT Xai Fltng Rte&alt Inc. TRS-Ui filed as XAI FLOATING RATE & ALTER IN | 1.07% | 198,688 | $3.5M | Add +233.7% |
| ASA ASA Gold and Precious Metals | 1.07% | 66,761 | $3.5M | Reduce -47.0% |
| NXG NXG Nextgen Infrastr Inc. | 1.06% | 53,297 | $3.4M | New |
| XCHYX Calamos Convert & High Inc. | 1.03% | 245,638 | $3.3M | New |
| RFMZ Rivernorth Flex Muni II | 1.02% | 243,641 | $3.3M | Add +6.1% |
| NCZ Virtus Convertible & Income | 1.01% | 205,874 | $3.3M | New |
| NCV Virtus Convertible & Income | 1.00% | 185,909 | $3.3M | New |
| PTY PIMCO Corporate & Income Opp | 0.93% | 252,532 | $3.0M | Add +1.0% |
| LDP Cohen & Steers Limited Durat | 0.89% | 137,739 | $2.9M | Add +32.7% |
| FINS Angel Oak Financ Strat Inc. | 0.87% | 222,390 | $2.8M | Add +15.0% |
| BCX BlackRock Resources & Commod | 0.83% | 238,622 | $2.7M | Add +10.1% |
| GHY Pgim Global High Yield Fund | 0.80% | 215,331 | $2.6M | New |
| BTZ BlackRock Credit Allocation | 0.77% | 245,318 | $2.5M | New |
| SDHY Pgim SHRT Durat Hi YLD | 0.70% | 138,168 | $2.3M | Add +21.6% |
| GAM General American Investors | 0.63% | 31,935 | $2.0M | Reduce -2.2% |
| MEGI Nylim CBRE GB Infra Mtrnd TF filed as NYLI CBRE GBL INFR MEGTRNDS | 0.60% | 129,641 | $2.0M | Reduce -0.8% |
| MFM Aberdeen Municipal Income | 0.60% | 345,429 | $1.9M | Add +458.6% |
| BGX Blackstone Long-Short Credit | 0.59% | 177,105 | $1.9M | Add +50.3% |
| ARDC Ares Dynamic Credit All | 0.58% | 150,623 | $1.9M | New |
| TBLD Thornburg Income Builder Opp | 0.55% | 80,479 | $1.8M | Add +15.8% |
| XPCQX PIMCO California Muni Inc. FD | 0.51% | 185,469 | $1.7M | Add +134.1% |
| PNI PIMCO NY Muni Inc. II FND | 0.50% | 231,370 | $1.6M | Add +208.0% |
| CEFS Saba Opport Hedg Cef ETF-Usd | 0.49% | 62,053 | $1.6M | Reduce -4.0% |
| BTT BlackRock 2030 Muni TRGT TRM | 0.40% | 56,610 | $1.3M | Add +15.4% |
| BGB Blackstone Strategic Credit | 0.39% | 112,665 | $1.3M | New |
| DSM BNYM Strat Muni BND filed as BNY MELLON STRATEGIC MUN BD | 0.37% | 195,902 | $1.2M | Add +18.8% |
| RFM Rivernorth Flexible Muni | 0.36% | 79,341 | $1.2M | New |
| MHD BlackRock Muniholdings Fund | 0.32% | 86,578 | $1.0M | New |
| MMD Nylim Mackay Definedterm Mun filed as NYLI MACKAY DEFINEDTERM MUNI | 0.29% | 60,688 | $941K | Add +36.7% |
| PDO PIMCO Dynamic Income Opport | 0.27% | 66,751 | $882K | No change |
| JLS Nuveen Mortgage & Income | 0.24% | 44,897 | $785K | Reduce -38.2% |
| FMN Federated Herm Prem Muni Inc. | 0.23% | 66,149 | $760K | New |
| NBH Neuberger Municipal Fund Inc. | 0.23% | 71,978 | $759K | New |
| DTF DTF Tax-Free Income 2028 Ter | 0.23% | 65,258 | $754K | Add +377.9% |
| PMO Franklin Muncipl Opps Tst-Ui | 0.23% | 70,700 | $745K | New |
| CCIF Carlyle Credit Income Fund | 0.23% | 263,404 | $735K | Add +108.7% |
| DMO Western Asset Mort Def Opp | 0.21% | 62,657 | $671K | Reduce -45.5% |
| MMU Western Asset Managed Munici | 0.20% | 63,607 | $663K | New |
| PMM Franklin Managed Municipal I | 0.18% | 89,911 | $588K | New |
| CET Central Securities Corp. | 0.17% | 10,787 | $566K | Reduce -70.5% |
| PML PIMCO Municipal Income FD II | 0.17% | 73,493 | $559K | New |
| GLD SPDR Gold Shares | 0.16% | 1,398 | $515K | No change |
| AFB Allianceberstein NTL Muni | 0.12% | 33,015 | $377K | New |
| LEO BNY Mellon Strategic Muni | 0.12% | 58,283 | $377K | New |
| SBI Western Asset Intermediate | 0.12% | 47,641 | $375K | New |
| CEF Sprott Physical Gold and Sil | 0.10% | 8,000 | $322K | No change |
| SPY SS SPDR S&P 500 ETF Trust-US | 0.09% | 390 | $291K | No change |
| EIM Eaton Vance Municipal Bond | 0.07% | 23,905 | $238K | New |
| RMMZ Rvrnrth MGD Dur Muni Inc. II filed as RIVERNORTH MANAGED DUR MUN I | 0.07% | 15,802 | $238K | New |
| TFLO iShares Treasury Floating Ra | 0.07% | 4,469 | $226K | Reduce -94.4% |
| QQQ Invesco QQQ Trust Series 1 | 0.06% | 270 | $199K | No change |
| HQL Abrdn Life Sciences Investor | 0.06% | 9,191 | $184K | Reduce -17.0% |
| DXYZ Destiny TECH100 Inc. | 0.05% | 6,588 | $170K | Reduce -92.0% |
| MDY State Street SPDR S&P Midcap | 0.03% | 150 | $106K | No change |
| NFLX Netflix Inc. | 0.02% | 1,000 | $71K | No change |
| TMC TMC the Metals Co. Inc. | 0.02% | 12,911 | $57K | No change |
| META Meta Platforms Inc. Class A | 0.02% | 100 | $56K | No change |
| WIW Western Asst Infl-LNK Opp | 0.02% | 6,546 | $55K | No change |
| MCI Barings Corporate Investors | 0.01% | 2,081 | $37K | New |
| FPF First TR Interm Dur & Inc. | 0.01% | 1,985 | $36K | Add +12.7% |
| PFO Flaherty & Crumrine P&I Opp | 0.01% | 3,679 | $34K | Reduce -1.2% |
| FXY Invesco Currencyshares Japan | 0.01% | 600 | $34K | No change |
| XPGPX PIMCO GLBL Stockspl & Inc. | 0.01% | 3,144 | $27K | New |
| AEF Abrdn Emerging Markets Ex CH | 0.01% | 2,046 | $20K | Add +206.8% |
| TDF Templeton Dragon Fund Inc. | 0.01% | 1,533 | $17K | Add +97.8% |
| EMF Templeton Emerging Markets | 0.00% | 649 | $15K | Add +51.3% |
| TSI TCW Strategic Income Fund | 0.00% | 3,258 | $15K | No change |
| XCAFX Morgan Stanley China A Share | 0.00% | 684 | $14K | New |
| NMAI Nuveen Multi-Asset Income | 0.00% | 1,013 | $14K | Add +12.8% |
| MXE Mexico Equity and Income FD | 0.00% | 1,103 | $14K | Add +93.5% |
| MXF Mexico Fund Inc. | 0.00% | 600 | $13K | Add +69.5% |
| SVXY Proshares Short Vix St Futur | 0.00% | 220 | $13K | No change |
| EEA The European Equity Fund Inc. | 0.00% | 993 | $11K | Add +28.6% |
Other holdings (6): bonds, preferreds, convertibles and warrants · $73K (not counted above)
| Security | Class | Shares / Principal | Value | Change |
|---|---|---|---|---|
| AIRJW Power & Digital Acq -CW24 | *W EXP 03/15/202 | 15,307 | $20K | No change |
| KRSP.WS Rice Acquisition Corp. 3 | *W EXP 99/99/999 | 14,946 | $15K | Add +207.7% |
| SPKWF Spark I Acquisition Corp.-28 | *W EXP 10/01/203 | 6,000 | $14K | New |
| ATIIW Archimedes Tech-30 | *W EXP 10/15/202 | 5,000 | $11K | New |
| NPWR.WS Rice Acquisition Corp. II-CW | *W EXP 06/08/202 | 32,771 | $10K | No change |
| NSTR.WS Viking Acquisition Corp. I | *W EXP 11/03/203 | 4,000 | $4K | New |
Total filed on the 13F, all lines: $325.8M.
Portfolio Sells Q1 2026 → Q2 2026
| SJB Proshares Short High Yield | Sold out | 0.00% | −4.20 |
| SDS Proshares Ultrashort S&P500 | Sold out | 0.00% | −2.78 |
| PDX PIMCO Dynamic Income Strat | Reduce -12.6% | 7.00% | −2.40 |
| PFIX Simplify Interest Rate Hedge | Sold out | 0.00% | −1.85 |
| ASA ASA Gold and Precious Metals | Reduce -47.0% | 1.07% | −1.59 |
| TFLO iShares Treasury Floating Ra | Reduce -94.4% | 0.07% | −1.30 |
| DUST Dir DLY Gol MN Idx BR 2X ETF | Sold out | 0.00% | −1.01 |
| QID Proshares Ultrashort QQQ | Sold out | 0.00% | −0.90 |
| BPRE Bluerock Private Real Estate | Reduce -16.3% | 1.21% | −0.84 |
| XSSPX Nuveen S&P 500 Dynam Overwr | Sold out | 0.00% | −0.81 |
| BSMQ Invesco Bulletshares 2026 MB | Sold out | 0.00% | −0.79 |
| BSMR Invesco Bulletshares 2027 MB | Sold out | 0.00% | −0.77 |
| PAXS PIMCO Access Income Fund | Reduce -29.1% | 1.39% | −0.76 |
| FUMB First Trust Ultra Short Dur | Sold out | 0.00% | −0.75 |
| OXLC Oxford Lane Capital Corp. | Sold out | 0.00% | −0.74 |
| DXYZ Destiny TECH100 Inc. | Reduce -92.0% | 0.05% | −0.70 |
| STEW SRH Total Return Fund Inc. | Reduce -99.7% | 0.00% | −0.62 |
| XGDVX Gabelli Dividend & Income TR | Reduce -99.5% | 0.00% | −0.47 |
| CET Central Securities Corp. | Reduce -70.5% | 0.17% | −0.44 |
| PVI Invesco Floating Rate Munici | Sold out | 0.00% | −0.42 |
| MSD Morgan Stanley Emrg MKT Debt | Reduce -99.2% | 0.00% | −0.41 |
| DPG Duff & Phelps Utility & Inc. | Reduce -7.9% | 1.64% | −0.28 |
| EDD Morgan Stanley Emrg MRK Dom | Reduce -99.5% | 0.00% | −0.23 |
| XEMDX Western Asset Emrg MRKT DBT | Sold out | 0.00% | −0.23 |
| DMO Western Asset Mort Def Opp | Reduce -45.5% | 0.21% | −0.21 |
| JLS Nuveen Mortgage & Income | Reduce -38.2% | 0.24% | −0.21 |
| CXE MFS High Income Municipal TR | Sold out | 0.00% | −0.11 |
| CXH MFS Investment Grade Muni | Sold out | 0.00% | −0.06 |
| MEGI Nylim CBRE GB Infra Mtrnd TF | Reduce -0.8% | 0.60% | −0.05 |
| GAM General American Investors | Reduce -2.2% | 0.63% | −0.02 |
| EUM Proshares Short MSCI Emr MKT | Sold out | 0.00% | −0.02 |
| EDF VSH Emerging Markets Income | Sold out | 0.00% | −0.01 |
| CEFS Saba Opport Hedg Cef ETF-Usd | Reduce -4.0% | 0.49% | −0.01 |
| ANGX Angel Studios Inc. | Sold out | 0.00% | −0.01 |
| HQL Abrdn Life Sciences Investor | Reduce -17.0% | 0.06% | −0.00 |
| JOF Japan Smaller Capitalization | Reduce -31.9% | 0.00% | −0.00 |
| PFO Flaherty & Crumrine P&I Opp | Reduce -1.2% | 0.01% | −0.00 |
| HFRO Highland Opport & Income | Reduce -1.4% | 5.86% | +0.59 |
Portfolio Buys Q1 2026 → Q2 2026
| PSUS Pershing Square USA Ltd. | New | 3.28% | +3.28 |
| NSLR Neostellar Capital Corp. | Add +2324.5% | 3.04% | +2.92 |
| EIC Eagle Point Income Co.-USA Inc. | Add +127.7% | 2.77% | +1.51 |
| TYG Tortoise Energy Infrastruct | New | 1.32% | +1.32 |
| STK Columbia Slgmn Prem Tech GR | Add +95.0% | 2.14% | +1.28 |
| KF Korea Fund Inc. | Add +13014.2% | 1.15% | +1.15 |
| PDI PIMCO Dynamic Income Fund | Add +151.0% | 1.99% | +1.09 |
| NXG NXG Nextgen Infrastr Inc. | New | 1.06% | +1.06 |
| XCHYX Calamos Convert & High Inc. | New | 1.03% | +1.03 |
| NCZ Virtus Convertible & Income | New | 1.01% | +1.01 |
| NCV Virtus Convertible & Income | New | 1.00% | +1.00 |
| BSTZ BlackRock Sci & Tech TRM TR | Add +100.8% | 1.53% | +0.91 |
| GHY Pgim Global High Yield Fund | New | 0.80% | +0.80 |
| BTX BlackRock Tech & Priv Eqty | Add +83.6% | 1.43% | +0.80 |
| JFR Nuveen Floating Rate Income | Add +55.9% | 2.62% | +0.79 |
| BTZ BlackRock Credit Allocation | New | 0.77% | +0.77 |
| XFLT Xai Fltng Rte&alt Inc. TRS-Ui | Add +233.7% | 1.07% | +0.72 |
| GOF Guggenheim Strategic Opport | Add +31.6% | 4.48% | +0.68 |
| ARDC Ares Dynamic Credit All | New | 0.58% | +0.58 |
| MFM Aberdeen Municipal Income | Add +458.6% | 0.60% | +0.48 |
| TWN Taiwan Fund Inc./TH/MD-US Inc. | Add +14.5% | 1.40% | +0.48 |
| BGB Blackstone Strategic Credit | New | 0.39% | +0.39 |
| RFM Rivernorth Flexible Muni | New | 0.36% | +0.36 |
| PNI PIMCO NY Muni Inc. II FND | Add +208.0% | 0.50% | +0.33 |
| MHD BlackRock Muniholdings Fund | New | 0.32% | +0.32 |
| XPCQX PIMCO California Muni Inc. FD | Add +134.1% | 0.51% | +0.28 |
| FMN Federated Herm Prem Muni Inc. | New | 0.23% | +0.23 |
| NBH Neuberger Municipal Fund Inc. | New | 0.23% | +0.23 |
| PMO Franklin Muncipl Opps Tst-Ui | New | 0.23% | +0.23 |
| MMU Western Asset Managed Munici | New | 0.20% | +0.20 |
| LDP Cohen & Steers Limited Durat | Add +32.7% | 0.89% | +0.19 |
| PMM Franklin Managed Municipal I | New | 0.18% | +0.18 |
| DTF DTF Tax-Free Income 2028 Ter | Add +377.9% | 0.23% | +0.18 |
| PML PIMCO Municipal Income FD II | New | 0.17% | +0.17 |
| BGX Blackstone Long-Short Credit | Add +50.3% | 0.59% | +0.15 |
| AFB Allianceberstein NTL Muni | New | 0.12% | +0.12 |
| LEO BNY Mellon Strategic Muni | New | 0.12% | +0.12 |
| SBI Western Asset Intermediate | New | 0.12% | +0.12 |
| SABA Saba Capital Income & Opp II | Add +15.1% | 2.29% | +0.09 |
| CCIF Carlyle Credit Income Fund | Add +108.7% | 0.23% | +0.09 |
| SDHY Pgim SHRT Durat Hi YLD | Add +21.6% | 0.70% | +0.08 |
| EIM Eaton Vance Municipal Bond | New | 0.07% | +0.07 |
| RMMZ Rvrnrth MGD Dur Muni Inc. II | New | 0.07% | +0.07 |
| EMO Clearbridge Energy Midstream | Add +23.9% | 1.12% | +0.06 |
| MMD Nylim Mackay Definedterm Mun | Add +36.7% | 0.29% | +0.06 |
| HERZ Herzfeld Credit Income Fund | Add +1.3% | 4.32% | +0.06 |
| TBLD Thornburg Income Builder Opp | Add +15.8% | 0.55% | +0.05 |
| FINS Angel Oak Financ Strat Inc. | Add +15.0% | 0.87% | +0.04 |
| KYN Kayne Anderson Energy Infra | Add +17.9% | 1.17% | +0.04 |
| DSM BNYM Strat Muni BND | Add +18.8% | 0.37% | +0.03 |
Notes & Other Activity Q1 2026 → Q2 2026
| KRSP.WS Rice Acquisition Corp. 3 | *W EXP 99/99/999 | Add +207.7% | 14,946 | $15K |
| SPKWF Spark I Acquisition Corp.-28 | *W EXP 10/01/203 | New | 6,000 | $14K |
| ATIIW Archimedes Tech-30 | *W EXP 10/15/202 | New | 5,000 | $11K |
| RAAQW REAL ASSET AQC Corp -30 | *W EXP 04/24/203 | Sold out | 4,166 | $6Kbefore exit |
| PCTTW Purecycle Techno-CW26 | *W EXP 03/17/202 | Sold out | 5,457 | $4Kbefore exit |
| NSTR.WS Viking Acquisition Corp. I | *W EXP 11/03/203 | New | 4,000 | $4K |
Bonds, preferreds, convertibles and warrants; not part of the stock holdings or percentages above.
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 123 | $325.7M | FSSL, PDX, FSCO, HFRO, GOF |
| Q1 2026 | 110 | $294.0M | FSSL, PDX, FSCO, HFRO, HERZ |
| Q4 2025 | 104 | $295.6M | FSSL, PDX, HFRO, SABA, HERZ |
| Q3 2025 | 101 | $291.7M | PDX, HFRO, SABA, HERZ, PAAA |
| Q2 2025 | 105 | $280.4M | PDX, FSCO, HERZ, SABA, HFRO |
| Q1 2025 | 125 | $293.9M | PDX, FSCO, HERZ, SABA, HFRO |
| Q4 2024 | 144 | $311.9M | PDX, FSCO, HFRO, SABA, NPFD |
| Q3 2024 | 151 | $300.2M | PDX, FSCO, HFRO, NPFD, PCF |
| Q2 2024 | 234 | $285.0M | PDX, FSCO, HFRO, NPFD, SPMC |
| Q1 2024 | 148 | $282.7M | PDX, FSCO, HFRO, NXDT, OCCI |