Thomas J. Herzfeld Advisors, Inc.

Q4 2025 13F-HR Holdings

Location
Miami Beach, FL
Holdings as of
12/31/2025
Date filed
2/13/2026
Form type
13F-HR
Num holdings
107
Total value ($000)
$295,605
Net value change ($000)
+3,891 (1.3%)
New positions
18
Sold out positions
15
Turnover %
42.2%
Sector allocation + QoQ delta (equities-only)
Prev filing: 11/12/2025 Next filing: — SEC filing

Snapshot: Change Analysis

Compared to Q3 2025
Methodology: sector metrics are equities-only; instrument mix chart is ex-options; options exposure is shown separately. Why this matters.
Top Adds (Value $000, Stocks/ETFs)
FSSL 28,999 NEW
BPRE 12,822 NEW
GOF 11,943 NEW
FSCO 5,311 79.8%
BRW 3,731 40.9%
PAXS 3,610 46.1%
BTX 3,580 NEW
EIC 3,546 NEW
XFLT 3,063 NEW
PDI 2,707 NEW
Top Reduces (Value $000, Stocks/ETFs)
PDX -14,616 -37.3%
PAAA -10,588 -100.0%
PFIX -9,230 -100.0%
FFC -6,465 -100.0%
NPFD -5,216 -100.0%
TFLO -5,213 -95.8%
KYN -3,973 -100.0%
PROSHARES TRUST -3,927 -100.0%
JFR -3,668 -34.8%
SABA -3,184 -19.5%
Instrument mix + QoQ Δ (ex-options)
How this table is calculated: SEC VALUE ($000) is used as reported. For derivatives (PUT/CALL/WARRANT/RIGHT), SEC value represents reported underlying exposure, not premium cash paid/received. Column % is bucket-based: non-options share is calculated inside non-option total, options share is calculated inside options total. Details.
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Instrument:
Issuer Name Ticker Sector Industry Class History Value ($000) % Shares Shares Δ Shares Δ% Value Δ ($000) Value Δ% Principal Option Type