THOMAS J. HERZFELD ADVISORS, INC. Information

119 WASHINGTON AVENUE, SUITE 504, MIAMI BEACH, Florida, 33139, (305) 271-1900

Report Date: 03/31/2014

Position Statistics

Total Positions 312
New Positions 16
Increased Positions 85
Decreased Positions 123
Positions with Activity 208
Sold Out Positions 28
Total Mkt Value (in $ millions) 177

Institutional Holdings information is filed by major institutions on form 13-F with the Securities and Exchange Commission.

Sector Weighting

Basic Materials 0.94%
Capital Goods 3.02%
Conglomerates 0.75%
Consumer Cyclical 0.01%
Consumer/Non-Cyclical 4.41%
Energy
Financial 79.82%
Healthcare 0.01%
Services 4.84%
Technology
Transportation 2.48%
Utilities 0.98%

312 Positions as of 03/31/2014

Company Class Value of Shares ($1,000s) ▼ Change in Value ($1,000s) Change (%) Shares Held
FIRST OPPORTUNITY FD INC COM 5,968 12 .19 607,156
VIRTUS TOTAL RETURN FD COM 5,713 -124 (2.12) 1,190,135
PETROLEUM & RES CORP COM 5,465 266 5.12 173,273
ALPINE TOTAL DYNAMIC DIVID FD COM SH BEN INT N 5,290 -5,148 (49.32) 592,402
ADAMS EXPRESS CO COM 4,908 25 .52 349,580
TRI CONTL CORP COM 4,605 10 .22 217,236
PIMCO DYNAMIC CR INCOME FD COM SHS 3,746 1,451 63.20 160,430
GENERAL AMERN INVS INC COM 3,066 118 3.99 82,211
SEABOARD CORP COM 2,949 73 2.52 1,017
RMR REAL ESTATE INCOME FUND COM 2,928 132 4.71 144,931
FEDERATED ENHANC TREAS INCM FD COM SH BEN INT 2,893 -512 (15.05) 214,782
ALPINE GLOBAL DYNAMIC DIVD FD COM NEW 2,891 -2,428 (45.65) 273,515
COPA HOLDINGS SA CL A 2,785 1,328 91.13 17,827
CLOUGH GLOBAL OPPORTUNITIES FD SH BEN INT 2,668 -2 (0.09) 207,645
LIBERTY ALL STAR EQUITY FD SH BEN INT 2,450 103 4.38 404,283
BLACKROCK CR ALLCTN INC TR COM 2,448 -18 (0.71) 178,444
ROYCE VALUE TR INC COM 2,392 59 2.52 150,716
HERZFELD CARIBBEAN BASIN FD COM 2,376 92 4.04 289,244
COCA COLA FEMSA S A B DE C V SPON ADR REP L 2,277 New 19,602
COHEN & STEERS INFRASTRUCTURE COM 2,268 25 1.13 92,742