0001752724-23-272423.txt : 20231129 0001752724-23-272423.hdr.sgml : 20231129 20231129074714 ACCESSION NUMBER: 0001752724-23-272423 CONFORMED SUBMISSION TYPE: NPORT-P PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20230930 FILED AS OF DATE: 20231129 DATE AS OF CHANGE: 20231129 PERIOD START: 20240630 FILER: COMPANY DATA: COMPANY CONFORMED NAME: HERZFELD CARIBBEAN BASIN FUND INC CENTRAL INDEX KEY: 0000880406 IRS NUMBER: 650396889 STATE OF INCORPORATION: MD FISCAL YEAR END: 0630 FILING VALUES: FORM TYPE: NPORT-P SEC ACT: 1940 Act SEC FILE NUMBER: 811-06445 FILM NUMBER: 231448504 BUSINESS ADDRESS: STREET 1: 119 WASHINGTON AVENUE, SUITE 504 CITY: MIAMI BEACH STATE: FL ZIP: 33139 BUSINESS PHONE: 305-777-1660 MAIL ADDRESS: STREET 1: 119 WASHINGTON AVENUE, SUITE 504 CITY: MIAMI BEACH STATE: FL ZIP: 33139 FORMER COMPANY: FORMER CONFORMED NAME: FIRST CUBA FUND INC DATE OF NAME CHANGE: 19920929 NPORT-P 1 primary_doc.xml NPORT-P false 0000880406 XXXXXXXX Herzfeld Caribbean Basin Fund, Inc. 811-06445 0000880406 549300ML0K6PRXPULR11 119 WASHINGTON AVENUE Suite 504 MIAMI BEACH 33139 305-777-1660 Herzfeld Caribbean Basin Fund, Inc. 549300ML0K6PRXPULR11 2024-06-30 2023-09-30 N 32730428.00 155321.70 32575106.30 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0 N Banco Latinoamericano De Comercio Exterior SA 549300CN3134K4LC0651 Banco Latinoamericano de Comercio Exterior, S.A ADR P16994132 42089.00000000 NS USD 892286.80000000 2.739167730666 Long EC CORP US N 1 N N N Wal-Mart De Mexico N/A Wal-Mart de Mexico S.A.B. de C.V. P98180188 210222.00000000 NS 793322.42000000 2.435364025197 Long EC CORP MX N 1 N N N Fomento Economico Mexicano S A B de C V 549300A8MDWDJNMLV153 Fomento Economico Mexicano de C.V. Series UBD P4182H115 18900.00000000 NS 205990.59000000 0.632355848981 Long EC CORP MX N 1 N N N Sitios Latinoamerica S.A.B. De C.V N/A Sitios LatinoAmerica S.A.B. de C.V. P87026103 2.00000000 NS 0.80000000 0.000002455863 Long EC CORP MX N 1 N N N Martin Marietta Materials Inc 5299005MZ4WZECVATV08 Martin Marietta Materials, Inc. 573284106 4000.00000000 NS USD 1641920.00000000 5.040413329364 Long EC CORP US N 1 N N N Spanish Broadcasting System Inc.. 5493005DKYB1X4C9LH64 Spanish Broadcasting System, Inc. Class A 846425833 31172.00000000 NS USD 19638.36000000 0.060286403424 Long EC CORP US N 1 N N N Cuban Electric Co N/A Cuban Electric Company 229615109 700.00000000 NS USD 0.00000000 0.000000 Long EC CORP US N 1 N N N Royal Caribbean Group K2NEH8QNVW44JIWK7Z55 Royal Caribbean Cruises Ltd. V7780T103 24863.00000000 NS USD 2290876.82000000 7.032599675660 Long EC CORP US N 1 N N N Nextera Energy Inc N/A NextEra Energy, Inc. 65339F101 19854.00000000 NS USD 1137435.66000000 3.491732765274 Long EC CORP US N 1 N N N N/A N/A Republic of Cuba 4.5%, due 1977 229561AA3 165000.00000000 PA USD 0.00000000 0.000000 Long EC CORP US N 2 N N N Norwegian Cruise Line Holdings Ltd N/A Norwegian Cruise Line Holdings Ltd. G66721104 116578.00000000 NS USD 1921205.44000000 5.897771820931 Long EC CORP US N 1 N N N Popular, Inc. 5493008CARDZMVQ3LO89 Popular, Inc. 733174700 29702.00000000 NS USD 1871523.02000000 5.745255296373 Long EC CORP US N 1 N N N AerSale Corporation N/A Aersale Corporation 00810F106 99206.00000000 NS USD 1482137.64000000 4.549908836368 Long EC CORP US N 1 N N N SBM Offshore NV 549300RDGCRYZ5QE6513 SBM Offshore N.V. N7752F148 27000.00000000 NS 354804.95000000 1.089190459525 Long EC CORP NL N 1 N N N Marriott Vacations Worldwide Corp 549300WA6BT5H4F7IO94 Marriott Vacations Worldwide Corporation 57164Y107 6745.00000000 NS USD 678749.35000000 2.083644313387 Long EC CORP US N 1 N N N Sider Venezolana N/A Siderurgica Venezolana 825865702 79.00000000 NS USD 0.00000000 0.000000 Long EC CORP US Y 1 N N N Copa Holdings SA 529900BB9UQJV6QQHA59 Copa Holdings, S.A. Class A P31076105 13250.00000000 NS USD 1180840.00000000 3.624976658940 Long EC CORP US N 1 N N N Consd Water Co 5299001BMEW8X9VIJA73 Consolodated Water Company, Ltd. G23773107 6092.00000000 NS USD 173256.48000000 0.531867734841 Long EC CORP US N 1 N N N Grupo Elektra S.A.B. de C.V. 4469000001BCXPDCGY70 Grupo Elektra, S.A.B. de C.V. Series CPO P3642B213 1270.00000000 NS 83955.81000000 0.257729964798 Long EC CORP MX N 1 N N N Margo Caribe Inc. N/A Margo Caribe Inc. 566605101 55921.00000000 NS USD 447368.00000000 1.373343177701 Long EC CORP US N 1 N N N Grupo Aeroportuario del Sureste S.A.B. de C.V. 5299001W7JIDXCUOUC82 Grupo Aeroportuario del Sureste S.A.B. de C.V. ADR 40051E202 4175.00000000 NS USD 1025839.25000000 3.149150890107 Long EC CORP MX N 1 N N N America Movil S.A.B. de C.V. 5493000FNR3UCEAONM59 America Movil SAB de C.V. ADR Series L 02390A101 10698.00000000 NS USD 185289.36000000 0.568806616603 Long EC CORP MX N 1 N N N Fomento Economico Mexicano S A B de C V 549300A8MDWDJNMLV153 Fomento Economico Mexicano, S.A.B. de C.V. ADR 344419106 13110.00000000 NS USD 1430956.50000000 4.392791497966 Long EC CORP MX N 1 N N N Mastec, Inc. 549300TMDIT8WREDOF45 MasTec, Inc. 576323109 23568.00000000 NS USD 1696188.96000000 5.207009746580 Long EC CORP US N 1 N N N Grupo Radio Centro S A B DE C V N/A Grupo Radio Centro. S.A.B. de C.V. P4983X160 207034.00000000 NS 39789.11000000 0.122145756436 Long EC CORP MX N 1 N N N Grupo Rotoplas Sab De Cv 549300PV16C2TA1DPA40 Grupo Rotoplas SAB de CV P49842100 170625.00000000 NS 245693.74000000 0.754237722932 Long EC CORP MX N 1 N N N Ceramica Carabobo, S.A.C.A. N/A Ceramica Carabobo SACA ADR 15671P704 20.00000000 NS USD 0.00000000 0.000000 Long EC CORP US N 1 N N N New Fortress Energy Inc. 254900EICTYTCHA5X705 New Fortress Energy, Inc. 644393100 73602.00000000 NS USD 2412673.56000000 7.406494817792 Long EC CORP US N 1 N N N Fuego Ent Inc N/A Fuego Enterprises Inc 35953E201 479175.00000000 NS USD 20652.44000000 0.063399455430 Long EC CORP US N 1 N N N Caribbean Utilties 549300JWGMJO03H0G857 Caribbean Utilities Limited Class A G1899E146 23200.00000000 NS USD 273040.80000000 0.838188515750 Long EC CORP US N 1 N N N Lennar Corporation 529900G61XVRLX5TJX09 Lennar Corporation Class A 526057104 10500.00000000 NS USD 1178415.00000000 3.617532324061 Long EC CORP US N 1 N N N Operadora de Sites Mexicanos SA de CV 4469000001BRCBO8VP14 Operadora De Sites Mex - A-1 P7369E102 33226.00000000 NS 27429.42000000 0.084203623918 Long EC CORP MX N 1 N N N Money Market Obligations Trust 25490005VWJDWX717014 Federated Government Obligations Fund Institutional Class 60934N104 82481.72000000 PA USD 82481.72000000 0.253204760839 Long STIV RF US N 1 N N N Evertec Inc N/A EVERTEC, Inc. 30040P103 16956.00000000 NS USD 630424.08000000 1.935294007006 Long EC CORP US N 1 N N N America Movil S.A.B. de C.V. 5493000FNR3UCEAONM59 America Movil SAB de C.V. P0280A192 209144.00000000 NS 180575.82000000 0.554336855686 Long EC CORP MX N 1 N N N First Bancorp Puerto Rico N/A First BanCorporation 318672706 160604.00000000 NS USD 2161729.84000000 6.636140554973 Long EC CORP US N 1 N N N CEMEX S.A.B. de C.V. 549300RIG2CXWN6IV731 Cemex S.A.B. de C.V. ADR 151290889 155645.00000000 NS USD 1011692.50000000 3.105722789306 Long EC CORP MX N 1 N N N PGT Innovations Inc 549300LRW9WM59C1S579 PGT Innovations, Inc. 69336V101 43117.00000000 NS USD 1196496.75000000 3.673040201253 Long EC CORP US N 1 N N N CEC Entertainment Inc 549300MWTY75LB8TRO50 PLAYA HOTELS & RESORTS N.V. 125137109 98605.00000000 NS USD 713900.20000000 2.191551405620 Long EC CORP US N 1 N N N Becle Sab De Cv 529900JY55CZKMJLCE09 Becle S.A.B. de C.V. P0929Y106 393164.00000000 NS 938757.71000000 2.881825469284 Long EC CORP MX N 1 N N N Grupo Mexico SAB de CV 529900JWLZAYET2ZGW20 Grupo Mexico S.A.B. de C.V. P49538112 3872.00000000 NS 18294.87000000 0.056162119108 Long EC CORP MX N 1 N N N Vulcan Materials Company 549300Q8LSNHAVWBNI21 Vulcan Materials Company 929160109 5000.00000000 NS USD 1010100.00000000 3.100834086917 Long EC CORP US N 1 N N N Waterloo Investment Holdings Limited 213800TZIK14GMV2YL02 Waterloo Investment Holdings Limited G94634105 70000.00000000 NS USD 24500.00000000 0.075210805988 Long EC CORP US N 1 N N N OFG Bancorp 549300Q4QEXJ37LEXQ06 OFG Bancorp 67103X102 11541.00000000 NS USD 344614.26000000 1.057906785710 Long EC CORP US N 1 N N N Seaboard Corp Del 87Q3KOXT29OW9W9YPT70 Seaboard Corporation 811543107 137.00000000 NS USD 514161.00000000 1.578386253800 Long EC CORP US N 1 N N N 2023-11-28 Susan McLauchlan Susan McLauchlan Susan McLauchlan AVP Fund Accounting XXXX NPORT-EX 2 herzfeldnport.htm SOI

Herzfeld Caribbean Basin Fund, Inc.

Schedule of Investments as of September 30, 2023 (Unaudited)

 

Shares or Principal Amount   Description Fair Value


Common Stocks – 99.64% of net assets

Aerospace and Defense – 4.55%

99,206 Aersale Corp.* $1,482,138

 

Airlines – 3.63%

13,250 Copa Holdings, S.A. 1,180,840

 

Banking and finance – 18.11%

42,089 Banco Latinoamericano de Comercio Exterior, S.A. 892,287
16,956 Evertec, Inc. 630,424
160,604 First BanCorp. (Puerto Rico) 2,161,730
11,541 OFG Bancorp 344,614
29,702 Popular, Inc. 1,871,523

 

Communications – 1.45%

   10,698 América Móvil, S.A.B. de C.V. Class B ADR 185,289
209,144 América Móvil, S.A.B. de C.V. 180,576
479,175 Fuego Enterprises, Inc.*1 20,652
207,034 Grupo Radio Centro S.A.B. de C.V.* 39,789
          2 Sitios LatinoAmerica S.A.B. de C.V. 1
31,172 Spanish Broadcasting System, Inc.* 19,638
33,226 Operadora de Sites Mexicanos, S.A. de C.V. 27,429

 

Construction and related– 20.13%

   155,645 Cemex, S.A.B. de C.V. ADR* 1,011,693
20 Ceramica Carabobo Class A ADR*1 --
4,000 Martin Marietta Materials, Inc. 1,641,920
23,568 MasTec, Inc.* 1,696,189
          43,117 PGT Innovations, Inc.* 1,196,497
5,000 Vulcan Materials Company 1,010,100

 

 
 
 

Shares or Principal Amount   Description Fair Value

 

Food, beverages and tobacco – 7.91%

393,164 Becle, S.A.B. de C.V.     938,758
18,900 Fomento Económico Mexicano, S.A.B. de C.V. Series UBD     205,991
13,110 Fomento Económico Mexicano, S.A.B. de C.V. ADR    1,430,956
     

 

Housing – 3.62%

10,500 Lennar Corporation     1,178,415

 

Investment companies - 0.08%

70,000 Waterloo Investment Holdings Ltd.*1     24,500

 

Leisure - 17.20%

6,745 Marriott Vacations Worldwide Corporation     678,749
116,578 Norwegian Cruise Line Holdings Ltd.*     1,921,205
98,605 Playa Hotels and Resorts N.V.*         713,900
24,863 Royal Caribbean Cruises Ltd.*     2,290,877

 

Machinery – 0.75%

170,625 Grupo Rotoplas S.A.B. de C.V     245,694

 

Mining – 0.06%

3,872 Grupo México, S.A.B. de C.V. Series B     18,295

 

Oil & Gas Services & Equipment – 1.09%

27,000 SBM Offshore N.V.     354,805

 

Retail - 2.69%

1,270 Grupo Elektra, S.A.B. de C.V. Series CPO    83,956
210,222 Wal-Mart de México, S.A.B. de C.V. Series V    793,322

 

Transportation infrastructure – 3.15%

4,175 Grupo Aeroportuario ADR    1,025,839

 

Trucking and marine freight – 1.58%

137 Seaboard Corporation    514,161

 

 
 
 

Shares or Principal Amount   Description Fair Value

 

Utilities – 12.27%

23,200 Caribbean Utilities Ltd. Class A    273,041
6,092 Consolidated Water Company Ltd.   173,256
700 Cuban Electric Company*1   --
19,854 NextEra Energy, Inc 1,137,436
73,602 New Fortress Energy, Inc., Class A 2,412,674

 

Other – 1.37%

55,921 Margo Caribe, Inc.* 447,368
79 Siderurgica Venezolana Sivensa, S.A. Series B*1 --

 

Total common stocks (cost $21,480,626)                32,456,527

 

Bonds – 0.00% of net assets

 

$ 165,000 Republic of Cuba - 4.5%, 1977 - in default*1                                --

 

Total bonds (cost $63,038)                                --

 

Money Market Funds – 0.25%

82,482 Federated Hermes Government Obligations Fund,
Institutional Class, 5.20%2
                        82,482

 

 

 

Total money market funds (cost $82,482)                        82,482

 

 

Total investments (cost $21,626,146) – 99.89% of net assets              $ 32,539,009

 

 

Assets in excess of other liabilities – 0.11% of net asset                        36,097

 

 

Net assets - 100%               $ 32,575,106

 

1 Securities have been fair valued in good faith using fair value methodology approved by the Board of Directors. Fair valued securities comprised 0.14% of net assets.
   
2 Rate disclosed is the seven day effective yield as of September 30, 2023.
   
* Non-income producing

 

ADR – American Depositary Receipt