Herzfeld Caribbean Basin Fund, Inc.

Schedule of Investments as of March 31, 2024 (Unaudited)

Shares or Principal Amount

Descripton

Fair Value

Common Stocks -

103.20% of net assets

Aerospace and Defense - 1.75%

129,206

Aersale Corp.*

$

927,699

Airlines - 3.19%

16,250

Copa Holdings, S.A.

1,692,600

Banking and fnance - 18.21%

70,089

Banco Latnoamericano de Comercio Exterior, S.A.

2,076,036

16,956

Evertec, Inc.

676,544

150,604

First BanCorp. (Puerto Rico)

2,641,594

47,454

OFG Bancorp

1,746,782

28,523

Popular, Inc.

2,512,591

Communicatons - 0.88%

10,698

América Móvil, S.A.B. de C.V. Class B ADR

199,625

209,144

América Móvil, S.A.B. de C.V.

196,007

479,175

Fuego Enterprises, Inc.*1

20,652

207,033

Grupo Radio Centro S.A.B. de C.V.*

49,815

Constructon and related - 17.87%

270,581

Cemex, S.A.B. de C.V. ADR*

2,437,935

20

Ceramica Carabobo Class A ADR*1

-

3,840

Martn Marieta Materials, Inc.

2,357,530

34,872

MasTec, Inc.*

3,251,814

5,219

Vulcan Materials Company

1,424,369

Food, beverages and tobacco - 6.05%

652,525

Becle, S.A.B. de C.V.

1,538,659

18,900

Fomento Económico Mexicano, S.A.B. de C.V. Series UBD

245,160

10,899

Fomento Económico Mexicano, S.A.B. de C.V. ADR

1,419,812

Housing - 3.07%

9,450

Lennar Corporaton

1,625,211

Investment companies - 0.05%

70,000

Waterloo Investment Holdings Ltd.*1

24,500

Leisure - 25.54%

76,208

Carnival Corporaton*

1,245,239

11,174

Marriot Vacatons Worldwide Corporaton

1,203,775

207,207

Norwegian Cruse Line Holdings Ltd.*

4,336,843

202,058

Playa Hotels and Resorts N.V.*

1,959,963

74,759

OneSpaWorld Holdings Ltd.*

989,062

27,348

Royal Caribbean Cruises Ltd.*

3,801,645

Machinery - 1.34%

392,076

Grupo Rotoplas S.A.B. de C.V.

710,606

Mining - 1.31%

117,872

Grupo México, S.A.B. de C.V. Series B

695,780

Oil & Gas Services & Equipment - 3.88%

129,000

SBM Ofshore N.V.

2,058,155

Real Estate Owners & Developers - 2.84%

38,412

Corporacion Inmobilaria Vesta SAB de CV ADR

1,507,287

Retail - 3.47%

14,270

Grupo Elektra, S.A.B. de C.V. Series CPO

989,231

210,222

Wal-Mart de México, S.A.B. de C.V. Series V

847,251

Herzfeld Caribbean Basin Fund, Inc.

Schedule of Investments as of March 31, 2024 (Unaudited)(Contnued)

Transportaton infrastructure - 2.27%

3,775

Grupo Aeroportuario ADR

1,203,017

Trucking and marine freight - 0.83%

137

Seaboard Corporaton

441,677

Utlites - 9.86%

23,200

Caribbean Utlies Ltd. Class A

272,600

6,092

Consolidated Water Company Ltd.

178,557

700

Cuban Electric Company*1

-

34,697

NextEra Energy, Inc.

2,217,485

83,602

New Fortress Energy, Inc., Class A

2,557,385

Other - 0.79%

55,921

Margo Caribe, Inc.*

419,408

79

Siderurgica Venezolana Sivensa, S.A. Series B*1

-

Total common stocks

(cost $36,713,805)

54,699,901

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 - 0.33%

174,262

Federated Hermes Government Obligatons Fund,

Insttutonal Class, 5.19%2

Total money market funds

(cost $174,262)

174,262

174,262

Total investments

(cost $36,951,105) - 103.53% of net assets

$

54,874,163

Liabilites in excess of other assets -

(3.53)% of net assets

(1,869,286)

Net assets -

100%

$

53,004,877

  • Securites have been fair valued in good faith, by the Adviser as "valuaton designee", using fair value methodology approved by the Board of Directors. Fair valued securites comprised 0.09% of net assets.
  • Rate disclosed is the seven day efectve yield as of March 31, 2024. * Non-income producing

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Disclaimer

The Herzfeld Caribbean Basin Fund Inc. published this content on 28 May 2024 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 21 June 2024 17:21:06 UTC.