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Institutional Investment Manager
Thomas J. Herzfeld Advisors, Inc.
Thomas J. Herzfeld Advisors, Inc. (CIK: 0001509510) incorporated in Florida, located at 119 Washington Avenue, Suite 504, Miami Beach, FL. Institutional holdings reported to the SEC.

Institutional Holdings (2015Q4)
Portfolio Summary: 324 holdings with a total value of $249,064,000.
#
Name
Shares
Value ($)
%
Options
Notes
301 NEXPOINT RESIDENTIAL TR INC 833 11,000 0.00%
302 VANGUARD WORLD FD 100 11,000 0.00%
303 BLACKROCK ENHANCED EQT DIV T 1,230 9,000 0.00%
304 MORGAN STANLEY EMERGING MKTS FD INC 716 9,000 0.00%
305 RAND CAP CORP 2,000 8,000 0.00%
306 SELECT SECTOR SPDR TR 111 8,000 0.00%
307 NEUBERGER BERMAN HIGH YIELD 700 7,000 0.00%
308 WISDOMTREE TR 143 7,000 0.00%
309 GABELLI GLB SML & MD CP VAL TR 700 7,000 0.00%
310 LATIN AMERN DISCOVERY FD INC 800 6,000 0.00%
311 LMP CORPORATE LN FD INC 600 6,000 0.00%
312 FIRST TR EXCHANGE TRADED FD 209 6,000 0.00%
313 SELECT SECTOR SPDR TR 65 5,000 0.00%
314 ALNYLAM PHARMACEUTICALS INC 50 5,000 0.00%
315 BLACKROCK LIMITED DURATION INCORPORATED TR COM SHS 250 4,000 0.00%
316 Ultrapetrol (Bahamas) Ltd 36,000 4,000 0.00%
317 BLACKROCK MUNICIPAL BOND TR 200 3,000 0.00%
318 PIONEER DIVERSIFIED HIGH INC 200 3,000 0.00%
319 WELLS FARGO MULTI SECTOR INC 234 3,000 0.00%
320 FIVE PRIME THERAPEUTICS INC 50 2,000 0.00%
321 MANNKIND CORP. 1,000 1,000 0.00%
322 Quantum Fuel Systems Tech Worl 1,000 1,000 0.00%
323 MOMENTA PHARMACEUTICALS INC 100 1,000 0.00%
324 TEKLA LIFE SCIENCES INVS 61 1,000 0.00%
Page 7 of 7

Portfolio data is normalized using SEC Form 13F filings, including the Original 13F-HR (0001398344-16-009896, filed 2016.02.12).

From 2023-01-03 onward, the SEC requires values to be reported in nearest dollars. Earlier filings reported values in thousands; therefore, positions shown as $0 in older filings may represent actual values between $0–$999.