THOMAS J. HERZFELD ADVISORS, INC. Information

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

Report Date: 06/30/2014

Position Statistics

Total Positions 331
New Positions 48
Increased Positions 109
Decreased Positions 105
Positions with Activity 214
Sold Out Positions 47
Total Mkt Value (in $ millions) 164

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

Sector Weighting

Basic Materials 0.81%
Capital Goods 3.35%
Conglomerates 0.81%
Consumer Cyclical 0%
Consumer/Non-Cyclical 3.91%
Energy
Financial 77.5%
Healthcare 0.56%
Services 4.86%
Technology
Transportation 1.85%
Utilities 1.18%

331 Positions as of 06/30/2014

Company Class Value of Shares ($1,000s) ▼ Change in Value ($1,000s) Change (%) Shares Held
FIRST OPPORTUNITY FD INC COM 5,900 163 2.84 624,383
VIRTUS TOTAL RETURN FD COM 5,516 219 4.14 1,239,451
ADAMS EXPRESS CO COM 4,790 120 2.56 358,526
PETROLEUM & RES CORP COM 4,678 119 2.61 177,793
ALPINE TOTAL DYNAMIC DIVID FD COM SH BEN INT N 4,618 -139 (2.93) 575,069
TRI CONTL CORP COM 4,426 68 1.56 220,626
PIMCO DYNAMIC CR INCOME FD COM SHS 3,801 219 6.11 170,233
GENERAL AMERN INVS INC COM 3,148 246 8.46 89,166
RMR REAL ESTATE INCOME FUND COM 3,004 205 7.32 155,544
OXFORD LANE CAP CORP PFD SHS SER 2023 2,743 579 26.77 114,491
FEDERATED ENHANC TREAS INCM FD COM SH BEN INT 2,647 -145 (5.2) 203,617
CLOUGH GLOBAL OPPORTUNITIES FD SH BEN INT 2,614 235 9.87 228,131
DIVERSIFIED REAL ASSET INC FD COM SHS 2,519 124 5.18 141,672
ALPINE GLOBAL DYNAMIC DIVD FD COM NEW 2,470 -63 (2.47) 266,765
BLACKROCK CR ALLCTN INC TR COM 2,391 1 .06 178,544
LIBERTY ALL STAR EQUITY FD SH BEN INT 2,353 121 5.44 426,285
NUVEEN DIVID ADV MUN FD 3 COM SH BEN INT 2,346 167 7.67 169,228
PUTNAM PREMIER INCOME TR SH BEN INT 2,078 111 5.66 393,546
COHEN & STEERS INFRASTRUCTURE COM 2,075 1 .03 92,773
HERZFELD CARIBBEAN BASIN FD COM 1,919 -45 (2.28) 282,652