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Livermore
Livermore
ZHEN

Thomas J. Herzfeld Advisors, Inc.

SEC CIK
0001509510
Latest filing
Aug 10, 2026

The latest 13F from Thomas J. Herzfeld Advisors, Inc. covers Q2 2026 (filed Aug 10, 2026): 129 long positions worth $325.8M. The top 10 holdings make up 49.8% of the portfolio, and the largest is FS Specialty Lending Fund (FSSL) at 9.9%. Livermore has 25 filings on Form 13F from this institution, going back to Q1 2021.

What changed in Q2 2026

Share counts compared with Q1 2026: how many positions were new, added to, reduced or sold out, and the biggest buys and sells. Dollar amounts are estimated at the quarter-end prices implied by the filing.

Full comparison
New
33
Est. +$44.6M
Added
59
Est. +$54.9M
Reduced
21
Est. −$23.5M
Sold out
19
Est. −$45.4M

Top 5 holdings

Share of this quarter's portfolio value

  1. FSSLFS Specialty Lending Fund
    9.9%$32.3MHistory
  2. PDXPIMCO Dynamic Income Strategy Fund
    7.0%$22.8MHistory
  3. FSCOFS Credit Opportunities Corp.
    6.0%$19.6MHistory
  4. HFROHighland Opportunities & Income Fund
    5.9%$19.1MHistory
  5. GOFGuggenheim Strategic Opportunities Fund
    4.5%$14.6MHistory

Share of portfolio

Top 5 holdings and the other 124 positions, by share of portfolio value

  1. FSSL9.9%
  2. PDX7.0%
  3. FSCO6.0%
  4. HFRO5.9%
  5. GOF4.5%
  6. Other 124 positions66.7%

Biggest buys

New and added positions, by estimated amount bought

  1. PSUSPershing Square USA, Ltd.
    +$10.7MNewHistory
  2. NSLRNeostellar Capital Corp.
    +$9.48MAddedHistory
  3. EICEagle Point Income Co
    +$5.07MAddedHistory
  4. TYGTortoise Energy Infrastructure Corp
    +$4.30MNewHistory
  5. PDIPIMCO Dynamic Income Fund
    +$3.91MAddedHistory

Largest weight increases

New and added positions, by percentage points of the portfolio gained

  1. PSUSPershing Square USA, Ltd.
    +3.28 pp0.0% → 3.3%History
  2. NSLRNeostellar Capital Corp.
    +2.92 pp0.1% → 3.0%History
  3. EICEagle Point Income Co
    +1.51 pp1.3% → 2.8%History
  4. TYGTortoise Energy Infrastructure Corp
    +1.32 pp0.0% → 1.3%History
  5. STKColumbia Seligman Premium Technology Growth Fund, Inc.
    +1.28 pp0.9% → 2.1%History

Biggest sells

Reduced and sold-out positions, by estimated amount sold

  1. ProShares Tr74347R131
    −$12.3MSold out
  2. ProShares Tr74350P667
    −$8.17MSold out
  3. Simplify Exchange Traded Fun82889N855
    −$5.43MSold out
  4. iShares Tr46434V860
    −$3.80MReduced
  5. PDXPIMCO Dynamic Income Strategy Fund
    −$3.30MReducedHistory

Largest weight decreases

Reduced and sold-out positions, by percentage points of the portfolio lost

  1. ProShares Tr74347R131
    −4.20 pp4.2% → 0.0%
  2. ProShares Tr74350P667
    −2.78 pp2.8% → 0.0%
  3. PDXPIMCO Dynamic Income Strategy Fund
    −2.40 pp9.4% → 7.0%History
  4. Simplify Exchange Traded Fun82889N855
    −1.85 pp1.8% → 0.0%
  5. ASAASA Gold & Precious Metals Ltd
    −1.59 pp2.7% → 1.1%History

Metrics

13F metrics for Q2 2026, computed only from the numbers in the filings. Definitions below.

Portfolio value
$325.8M
+$31.7M (+10.8%) vs. prior quarter
Positions
129
+14 vs. prior quarter
Top 10 concentration
49.8%
Top 10 as share of value
Turnover
22.3%
Q2 2026, one quarter
Average holding period
8.3 quarters
Weighted by value

How these are calculated

  • Portfolio value: the market value of all long positions in the 13F, as reported at quarter end, excluding options.
  • Top 10 concentration: the combined value of the 10 largest positions as a share of portfolio value.
  • Turnover: the smaller of this quarter's estimated purchases and estimated sales, divided by the average of this and last quarter's portfolio value. Estimates multiply the change in shares by the quarter-end price implied by the filing (market value divided by shares); new positions use this quarter's value and sold-out positions last quarter's. Only positions reported in shares count, and it is not calculated when the previous quarter was not filed.
  • Average holding period: how many consecutive quarters each current position has been held (including this one; a quarter without the position or without a filing starts the count over), weighted by this quarter's value. Counting starts with the first 13F in Livermore (Q1 2021), so positions held before then are understated.

13F filings by quarter

22 quarters, going back to Q1 2021. Bars show each quarter's 13F portfolio value; quarters without a filing are left blank.

Peak $325.8M (Q2 2026)

Q1 2021: $220.4MQ2 2021: $239.7MQ3 2021: $226.5MQ4 2021: $275.4MQ1 2022: $266.9MQ2 2022: $241.5MQ3 2022: $234.5MQ4 2022: $244.0MQ1 2023: $247.2MQ2 2023: $251.1MQ3 2023: $258.9MQ4 2023: $272.4MQ1 2024: $282.8MQ2 2024: $285.1MQ3 2024: $300.3MQ4 2024: $312.1MQ1 2025: $294.0MQ2 2025: $280.4MQ3 2025: $291.7MQ4 2025: $295.6MQ1 2026: $294.0MQ2 2026: $325.8M
Q1 2021Q2 2026
13F filings of Thomas J. Herzfeld Advisors, Inc. by quarter
QuarterFiledPositionsValueTop 3 holdingsChangesFiling
Q2 2026Aug 10, 2026129$325.8MFSSLPDXFSCOvs. Q1 2026SEC
Q1 2026May 12, 2026115$294.0MFSSLPDXFSCOvs. Q4 2025SEC
Q4 2025Feb 13, 2026107$295.6MFSSLPDXHFROvs. Q3 2025SEC
Q3 2025Nov 12, 2025104$291.7MPDXHFROSABAvs. Q2 2025SEC
Q2 2025Aug 13, 2025108$280.4MPDXFSCOHERZvs. Q1 2025SEC
Q1 2025May 14, 2025128$294.0MPDXFSCOHERZvs. Q4 2024SEC
Q4 2024Feb 12, 2025147$312.1MPDXFSCOHFROvs. Q3 2024SEC
Q3 2024Nov 12, 2024155$300.3MPDXFSCOHFROvs. Q2 2024SEC
Q2 2024Aug 13, 2024238$285.1MPDXFSCOHFROvs. Q1 2024SEC
Q1 2024May 13, 2024151$282.8MPDXFSCOHFROvs. Q4 2023SEC
Q4 2023Feb 14, 2024155$272.4MPDXHFROFSCOvs. Q3 2023SEC
Q3 2023Nov 13, 2023336$258.9MFSCOHFROPDXvs. Q2 2023SEC
Q2 2023Aug 16, 2023Amended331$251.1MHFROFSCOBRWvs. Q1 2023SECSEC
Q1 2023May 16, 2023Amended322$247.2MHFROBRWWisdomTree Trvs. Q4 2022SEC
Q4 2022Feb 14, 2023317$244.0MHFROBRWNXDTvs. Q3 2022SEC
Q3 2022Nov 14, 2022308$234.5MWisdomTree TrHFRONXDTvs. Q2 2022SEC
Q2 2022Aug 10, 2022322$241.5MHFRONXDTWisdomTree Trvs. Q1 2022SEC
Q1 2022May 16, 2022326$266.9MHFRONXDTPDXvs. Q4 2021SEC
Q4 2021Feb 14, 2022361$275.4MHFRONXDTCETvs. Q3 2021SEC
Q3 2021Nov 12, 2021349$226.5MHFRONXDTiShares Trvs. Q2 2021SEC
Q2 2021Aug 16, 2021355$239.7MHFRONXDTCETvs. Q1 2021SEC
Q1 2021May 14, 2021362$220.4MHFRONXDTEVV–SEC

13D and 13G filings

Companies where Thomas J. Herzfeld Advisors, Inc. reports owning 5% or more on Schedule 13D or 13G, and its latest filings.

Current stakes of 5% or more

2 companies, largest stake first.

Companies where Thomas J. Herzfeld Advisors, Inc. owns 5% or more
CompanyLatest formStakeChangeFirst filedLatest filingFiling
PennantPark Enhanced Income FundClass I Common Shares of Beneficial Interest13G8.88%51.3K sharesNewJul 10, 20261 filingJul 10, 2026SEC
HFROHighland Opportunities & Income Fund13G5.05%2.80M sharesNewOct 29, 20251 filingOct 29, 2025SEC

Latest filings

23 filings on file made by Thomas J. Herzfeld Advisors, Inc. or listing it as a reporting person; the latest 20 are shown.

Schedule 13D and 13G filings by Thomas J. Herzfeld Advisors, Inc.
CompanyFiled (ET)FormStakeChangeEvent dateFiling
PennantPark Enhanced Income FundClass I Common Shares of Beneficial InterestJul 10, 20264:30 PM ET13G8.88%51.3K sharesNewMay 28, 2026SEC
SABASaba Capital Income & Opportunities Fund IIApr 8, 20264:30 PM ET13G/A2.85%775.8K shares−3.29 ppfrom 6.14%Below 5%Jan 22, 2026SEC
HFROHighland Opportunities & Income FundOct 29, 20258:00 AM ET13G5.05%2.80M sharesNewSep 30, 2025SEC
DMADestra Multi-Alternative FundJul 16, 20254:00 PM ET13G/A3.84%344.5K shares–Below 5%Jun 3, 2025SEC
NSLRNeostellar Capital Corp.Jul 16, 20254:00 PM ET13G/A0.72%169.4K shares−6.56 ppfrom 7.28%Below 5%Jun 3, 2025SEC
NSLRNeostellar Capital Corp.Apr 7, 20255:00 PM ET13G/A7.28%1.71M shares+1.47 ppfrom 5.81%Mar 6, 2025SEC
SABASaba Capital Income & Opportunities Fund IIApr 7, 20255:00 PM ET13G/A6.14%1.70M shares+1.00 ppfrom 5.14%Mar 24, 2025SEC
SABASaba Capital Income & Opportunities Fund IIJan 21, 20254:05 PM ET13G5.14%1.44M sharesNewDec 23, 2024SEC
NSLRNeostellar Capital Corp.Jan 21, 20254:05 PM ET13G5.81%1.36M sharesNewOct 25, 2024SEC
PCFHigh Income Securities FundOct 2, 202413GOld format–New–SEC
NDPTortoise Energy Independence Fund, Inc.Oct 2, 202413G/AOld format–––SEC
OCCIOFS Credit Company, Inc.Oct 2, 202413G/AOld format–––SEC
DMADestra Multi-Alternative FundOct 2, 202413G/AOld format–––SEC
OCCIOFS Credit Company, Inc.Jan 17, 202413GOld format–New–SEC
NDPTortoise Energy Independence Fund, Inc.Jan 17, 202413G/AOld format–––SEC
CCIDCarlyle Credit Income FundDec 5, 202313G/AOld format–––SEC
NDPTortoise Energy Independence Fund, Inc.Dec 5, 202313G/AOld format–––SEC
DMADestra Multi-Alternative FundNov 17, 202313GOld format–New–SEC
CCIDCarlyle Credit Income FundAug 16, 202313GOld format–New–SEC
NDPTortoise Energy Independence Fund, Inc.Jan 10, 202313GOld format–––SEC