Herzfeld Caribbean Basin Fund : Q1/2024 Holdings Report
May 27, 2024
Share
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.
The Herzfeld Caribbean Basin Fund, Inc. (the Fund) is a non-diversified, closed-end management investment company. The Fund's investment objective is to obtain long-term capital appreciation. The Fund pursues its objective by investing primarily in equity and equity-linked securities of public and private companies, including United States (U.S.)-based companies, whose securities are traded principally on a stock exchange in a Caribbean Basin Country or that have at least 50% of the value of their assets in a Caribbean Basin Country or that derive at least 50% of their total revenue from operations in a Caribbean Basin Country. Under normal conditions, the Fund invests at least 80% of its total assets in equity and equity-linked securities of Caribbean Basin Countries. The Fund invests in various countries including U.S., Mexico, Puerto Rico, Liberia, Bermuda, Panama, Netherlands and Cuba. The Fund's investment adviser is HERZFELD/CUBA, a division of Thomas J. Herzfeld Advisors, Inc.