0001398344-11-001841.txt : 20110812 0001398344-11-001841.hdr.sgml : 20110812 20110812160454 ACCESSION NUMBER: 0001398344-11-001841 CONFORMED SUBMISSION TYPE: 13F-HR PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 20110630 FILED AS OF DATE: 20110812 DATE AS OF CHANGE: 20110812 EFFECTIVENESS DATE: 20110812 FILER: COMPANY DATA: COMPANY CONFORMED NAME: Thomas J. Herzfeld Advisors, Inc. CENTRAL INDEX KEY: 0001509510 IRS NUMBER: 592414380 STATE OF INCORPORATION: FL FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 13F-HR SEC ACT: 1934 Act SEC FILE NUMBER: 028-14375 FILM NUMBER: 111031406 BUSINESS ADDRESS: STREET 1: PO BOX 161465 CITY: MIAMI STATE: FL ZIP: 33116 BUSINESS PHONE: 305-271-1900 MAIL ADDRESS: STREET 1: PO BOX 161465 CITY: MIAMI STATE: FL ZIP: 33116 13F-HR 1 fp0003294_13fhr.txt UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 13F Form 13F COVER PAGE Report for the Calendar Year or Quarter Ended: June 30, 2011 Check here if Amendment [ ]; Amendment Number: This Amendment (Check only one.): [ ] is a restatement. [ ] adds new holdings entries. Institutional Investment Manager Filing this Report: Name: Thomas J. Herzfeld Advisors, Inc. Address: PO Box 161465 Miami, FL 33116 Form 13F File Number: 028-14375 The institutional investment manager filing this report and the person by whom it is signed hereby represent that the person signing the report is authorized to submit it, that all information contained herein is true, correct and complete, and that it is understood that all required items, statements, schedules, lists, and tables, are considered integral parts of this form. Person Signing this Report on Behalf of Reporting Manager: Name: Thomas J. Herzfeld Title: President Phone: (305) 271-1900 Signature, Place, and Date of Signing: /s/ Thomas J. Herzfeld Miami, FL August 9, 2011 ----------------------- --------- -------------- [Signature] [City, State] [Date] Report Type (Check only one.): [X] 13F HOLDINGS REPORT. (Check here if all holdings of this reporting manager are reported in this report.) [ ] 13F NOTICE. (Check here if no holdings reported are in this report, and all holdings are reported by other reporting manager(s).) [ ] 13F COMBINATION REPORT. (Check here if a portion of the holdings for this reporting manager are reported in this report and a portion are reported by other reporting manager(s).) List of Other Managers Reporting for this Manager: [If there are no entries in this list, omit this section.] Form 13F File Number Name Form 13F SUMMARY PAGE Report Summary: Number of Other Included Managers: 0 ----------- Form 13F Information Table Entry Total: 288 ----------- Form 13F Information Table Value Total: $ 115,595 ----------- (thousands) List of Other Included Managers: Provide a numbered list of the names(s) and Form 13F file numbers(s) of all institutional investment managers with respect to which this report is filed, other than the manager filing this report. [If there are no entries in this list, state "NONE" and omit the column headings and list entries.] NONE
COLUMN 1 COLUMN 2 COLUMN 3 COLUMN 4 COLUMN 5 COLUMN 6 COLUMN 7 COLUMN 8 ------------------------------- --------------- --------- ----------- -------------------- ---------- -------- --------------------- VOTING AUTHORITY TITLE OF VALUE SHRS OR SH/ PUT/ INVESTMENT OTHER --------------------- NAME OF ISSUER CLASS CUSIP (x$1000) PRN AMT PRN CALL DISCRETION MANAGERS SOLE SHARED NONE ------------------------------- --------------- --------- ----------- ----------- --- ---- ---------- -------- --------- ------ ---- Alliance Bernstein Income Fund common stock 01881E101 221 28,000 28,000 Adams Express common stock 006212104 962 86,378 86,378 Alpine Total Dynamic Dividend Fund common stock 021060108 5,651 930,966 930,966 Asia Pacific Fund common stock 044901106 12 1,000 1,000 Morgan Stanley Asia Pacific Fund common stock 61744U106 490 28,815 28,815 ASA Gold and Precious Metals common stock G3156P103 143 5,000 5,000 Liberty All-Star Growth Fund common stock 529900102 34 7,626 7,626 American Strategic Income Portfolio common stock 030098107 14 1,162 1,162 Alpine Global Premier Properties Fund common stock 02083A103 494 68,661 68,661 Brantley Capital common stock 105494108 19 59,109 59,109 Bancroft Fund common stock 059695106 619 35,673 35,673 Rivus Bond Fund common stock 769667106 763 40,947 40,947 BlackRock Strategic Dividend Achievers Trust common stock 09249Y107 405 37,934 37,934 BlackRock Dividend Achievers Trust common stock 09250N107 7 729 729 BlackRock Strategic Bond Trust common stock 09249G106 21 1,555 1,555 BlackRock Core Bond Trust common stock 09249E101 151 12,016 12,016 Boulder Growth and Income Fund common stock 101507101 314 48,509 48,509 BlackRock Income Trust common stock 09247F100 1,752 248,819 248,819 BlackRock Income Opportunity Trust common stock 092475102 10 1,000 1,000 BlackRock Credit Allocation Income Trust III common stock 09249V103 331 30,500 30,500 BlackRock S&P Quality Rankings Global Equity Managed Trust common stock 09250D109 35 2,515 2,515 American Strategic Income Portfolio II common stock 030099105 884 95,920 95,920 Boulder Total Return Fund common stock 101541100 472 28,715 28,715 John Hancock Bank & Thrift Opportunity common stock 409735206 136 8,275 8,275 BlackRock Credit Allocation Income Trust IV common stock 092508100 1,726 138,002 138,002 Morgan Stanley China A Share Fund common stock 617468103 159 5,837 5,837 Central Europe and Russia Fund common stock 153436100 196 4,512 4,512 Central Fund of Canada common stock 153501101 20 1,000 1,000 Central Securities common stock 155123102 810 93,916 33,916 Calamos Global Dynamic Income Fund common stock 12811L107 49 5,644 5,644 Cornerstone Strategic Value Fund common stock 21924B203 12 1,120 1,120 MFS Intermarket Income Trust I common stock 59318R103 710 84,956 84,956 Cornerstone Total Return Fund common stock 21924U201 1 150 150 American Strategic Income Portfolio III common stock 03009T101 715 90,000 90,000 Calamos Strategic Total Return Fund common stock 128125101 1,689 176,494 176,494 The Herzfeld Caribbean Basin Fund common stock 42804T106 1,007 141,034 141,034 DCA Total Return Fund common stock 233066109 4,021 1,058,066 1,058,066 Diamond Hill Financial Trends Fund common stock 25264C101 100 10,122 10,122 DWS High Income Opportunities Fund common stock 23339M204 197 13,505 13,505 Dow 30 Enhanced Premium & Income Fund common stock 260537105 51 4,506 4,506 Cohen & Steers Dividend Majors Fund common stock 19248G106 56 4,008 4,008 Ellsworth Fund common stock 289074106 47 6,254 6,254 European Equity Fund common stock 298768102 7 880 880 Engex common stock 292851102 33 9,700 9,700 Western Asset Global High Income Fund common stock 95766B109 13 1,023 1,023 Western Asset Emerging Markets Income Fund common stock 95766E103 296 21,405 21,405 Enzo Biochem common stock 294100102 13 3,000 3,000 Eaton Vance Enhanced Equity Income Fund common stock 278274105 215 17,922 17,922 Eaton Vance Enhanced Equity Income Fund II common stock 278277108 35 3,000 3,000 Equus Total Return common stock 294766100 407 169,631 169,631 Evergreen Multi-Sector Income Fund common stock 94987D101 0 6 6 Western Asset Emerging Markets Debt Fund common stock 95766A101 2,043 107,035 107,035 Eaton Vance Tax-Managed Buy-Write Income Fund common stock 27828X100 138 10,000 10,000 Emerging Markets Telecommunications Fund common stock 00301T102 64 3,400 3,400 Eaton Vance Tax-Advantaged Global Dividend Income Fund common stock 27828S101 164 10,717 10,717 Eaton Vance Risk-Managed Diversified Equity Income Fund common stock 27829G106 3,662 290,167 290,167 Eaton Vance Tax-Managed Buy-Write Opportunities Fund common stock 27828Y108 489 38,384 38,384 Eaton Vance Tax-Managed Global Buy-Write Opp. Fund common stock 27829C105 795 65,516 65,516 Eaton Vance Tax-Managed Diversified Equity Income Fund common stock 27828N102 2,465 225,751 225,751 Eaton Vance Tax Advantage Bond and Auction Strategies common stock 27829M103 627 35,777 35,777 Eaton Vance Tax-Managed Global Diversified Equity Income Fund common stock 27829F108 3,593 343,180 343,180 Aberdeen Asia-Pacific Income Fund common stock 003009107 73 10,000 10,000 Fort Dearborn Income Securities common stock 347200107 105 6,989 6,989 First Trust/Aberdeen Emerging Opportunities Fund common stock 33731K102 23 1,090 1,090 Morgan Stanley Frontier Emerging Markets Fund common stock 61757P101 136 10,181 10,181 SunAmerica Focused Alpha Growth Fund common stock 867037103 179 8,619 8,619 SunAmerica Focused Alpha Large-Cap Fund, Inc. common stock 867038101 293 15,342 15,342 First Trust Strategic High Income Fund common stock 337347108 166 44,137 44,137 First Trust Strategic High Income Fund III common stock 33735C106 506 111,949 111,949 First Trust Strategic High Income Fund II common stock 337353106 183 35,280 35,280 First Opportunity Fund common stock 33587T108 4,062 564,131 564,131 First Trust High Income Long/Short Fund common stock 33738E109 187 10,001 10,001 Federated Enhanced Treasury Income Fund common stock 314162108 4,191 269,502 269,502 Royce Focus Trust common stock 78080N108 212 27,259 27,259 Foxby Corp. common stock 351645106 127 105,840 105,840 General Dynamics common stock 369550108 447 6,000 6,000 Gabelli Equity Trust common stock 362397101 14 2,361 2,361 Gabelli Equity Trust Preferred Series D preferred stock 362397705 221 8,672 8,672 Gabelli Equity Trust Preferred Series F preferred stock 362397804 8 300 300 General American Investors common stock 368802104 360 12,841 12,841 General American Investors Preferred Series B preferred stock 368802401 365 14,494 14,494 Guggenheim Build America Bond Managed Duration Trust common stock 401664107 365 18,723 18,723 Global Income and currency fund common stock 378968101 543 37,587 37,587 Greater China Fund common stock 39167B102 409 32,225 32,225 Gabelli Convertible and Income Securities Preferred Series B preferred stock 36240B307 60 2,300 2,300 General Dynamics common stock 369550108 75 1,000 1,000 Gabelli Global Deal Fund common stock 36245G103 188 14,012 14,012 GDL Fund Preferred Series B preferred stock 361570302 410 7,670 7,670 Western Asset Global Corporate Defined Opportunity Fund common stock 95790C107 57 3,015 3,015 Gabelli Dividend and Income Trust common stock 36242H104 393 23,666 23,666 Gabelli Dividend and Income Trust Preferred Series A preferred stock 36242H203 50 2,000 2,000 New Germany Fund common stock 644465106 442 24,469 24,469 Western Asset Variable Rate Strategic Fund common stock 957667108 17 1,000 1,000 Guggenheim Enhanced Equity Strategy Fund common stock 40167K100 52 3,016 3,016 Gabelli Global Multimedia Trust common stock 36239Q109 456 57,156 57,156 Gabelli Global Multimedia Trust preferred Series B preferred stock 36239Q307 235 9,134 9,134 Global Income Fund common stock 37934Y108 68 16,250 16,250 SPDR Gold Trust common stock 78463V107 438 3,000 3,000 Clough Global Opportunities Fund common stock 18914E106 764 56,805 56,805 Clough Global Equity Fund common stock 18914C100 334 22,580 22,580 Clough Global Allocation Fund common stock 18913Y103 151 9,819 9,819 General Motors common stock 37045V100 30 1,000 1,000 Eagle Capital Growth Fund common stock 269451100 25 3,555 3,555 Gabelli Healthcare and Wellness Trust common stock 36246K103 160 20,714 20,714 Helios Advantage Income Fund common stock 42327W206 86 10,410 10,410 Internet Holders Trust common stock 46059W102 154 2,000 2,000 Helios High Yield Fund common stock 42328Q109 12 1,200 1,200 Helios High Income Fund common stock 42327X204 13 1,637 1,637 BlackRock High Income Shares common stock 09250E107 55 25,304 25,304 Helios Multi-Sector High Income Fund common stock 42327Y202 6 1,000 1,000 H&Q Healthcare Investors common stock 404052102 341 21,365 21,365 H&Q Life Sciences Investors Fund common stock 404053100 33 2,650 2,650 Helios Strategic Income Fund common stock 42328A203 42 7,410 7,410 Helios Strategic Mortgage Income Fund common stock 42327M109 13 2,000 2,000 Helios Total Return Fund common stock 42327V109 25 4,000 4,000 BlackRock Corporate High Yield Fund V common stock 09255N102 51 4,200 4,200 Morgan Stanley Income Securities common stock 61745P874 3 150 150 MS Insured CA Municipal Securities common stock 46130W105 218 17,021 17,021 ING Infrastructure Industrials and Materials Fund common stock 45685U100 108 5,070 5,070 Indonesia Fund common stock 00305P106 566 41,289 41,289 Western Asset Investment Grade Defined Opportunities common stock 95790A101 21 1,001 1,001 MS CA Insured Municipal Income common stock 46130L109 161 12,144 12,144 Morgan Stanley India Investment Fund common stock 61745C105 90 4,100 4,100 Western Asset Inflation Management Fund common stock 95766U107 92 5,261 5,261 MS CA Quality Municipal Securities common stock 46130M107 322 26,534 26,534 MS NY Quality Municipal Securities common stock 46133F109 83 6,000 6,000 New Ireland Fund common stock 645673104 161 18,778 18,778 Nuveen Core Equity Alpha Fund common stock 67090X107 119 8,283 8,283 Nuveen Diversified Dividend & Income Fund common stock 6706EP105 354 31,000 31,000 Japan Equity Fund common stock 471057109 829 135,930 135,930 Jardine Fleming China Region Fund common stock 46614T107 54 3,567 3,567 Nuveen Tax-Advantaged Floating Rate Fund common stock 6706EV102 234 92,793 92,793 Nuveen Multi-Currency Short-Term Government Income Fund common stock 67090N109 1,036 69,684 69,684 Nuveen Opportunity Term Fund common stock 670735109 49 2,001 2,001 Japan Smaller Capitalization Fund common stock 47109U104 119 14,451 14,451 Nuveen Multi-Strategy Income and Growth Fund common stock 67073B106 210 23,857 23,857 Nuveen Equity Premium & Growth Fund common stock 6706EW100 80 6,000 6,000 Nuveen Multi-Strategy Income and Growth Fund 2 common stock 67073D102 305 33,317 33,317 Nuveen Tax-Advantaged Dividend Growth Fund common stock 67073G105 62 4,695 4,695 JZ Capital Partners common stock G5216J134 381 60,000 60,000 Korea Fund common stock 500634209 1,074 21,804 21,804 DWS Global High Income common stock 23338W104 62 7,772 7,772 Lehman Brothers Holdings Inc. common stock 524908100 0 24 24 Lazard Global Total Return & Income Fund common stock 52106W103 31 2,001 2,001 Ladenburg Thalmann Financial Services common stock 50575Q102 28 20,000 20,000 Malaysia Fund common stock 560905101 45 4,000 4,000 BlackRock MuniYield California Insured Fund common stock 09254N103 201 15,100 15,100 Madison/Claymore Covered Call & Equity Strategy Fund common stock 556582104 43 5,000 5,000 MFS Charter Income Fund common stock 552727109 172 17,200 17,200 MFS Government Markets Income Trust common stock 552939100 61 9,000 9,000 Macquarie Global Infrastructure Total Return Fund common stock 55608D101 308 16,608 16,608 Eaton Vance Insured Michigan Municipal Bond Fund common stock 27828M104 1 87 87 BlackRock MuniYield Michigan Insured Fund common stock 09254V105 0 21 21 MFS Multimarket Income Trust common stock 552737108 134 19,600 19,600 BlackRock Muni NY Intermediate Duration Fund common stock 09255F109 51 3,896 3,896 American Income Fund common stock 02672T109 52 6,400 6,400 Margo Caribe Inc. common stock 566606101 2 8,318 8,318 Morgan Stanley Emerging Market Debt Fund common stock 61744H105 504 47,462 47,462 Morgan Stanley Emerging Markets common stock 61744G107 124 7,800 7,800 Madison Strategic Sector Premium Fund common stock 558268108 38 3,043 3,043 Montgomery Street Income Securities common stock 614115103 793 49,722 49,722 BlackRock MuniAssets Fund common stock 09254J102 26 2,182 2,182 MVC Capital Corp. common stock 553829102 52 3,918 3,918 Mexico Equity & Income Fund common stock 592834105 247 21,123 21,123 Mexico Fund common stock 592835102 120 4,256 4,256 Nuveen AZ Premium Income Municipal Fund common stock 67061W104 26 2,000 2,000 Nuveen CA Municipal Value Fund common stock 67062C107 115 13,000 13,000 Nuveen CA Premium Income Municipal Fund Preferred Series C preferred stock 6706L0300 25 2,500 2,500 Nuveen AZ Dividend Advantage Municipal Fund common stock 67069L100 19 1,500 1,500 Nuveen GA Dividend Advantage Municipal Fund 2 Preferred Series C preferred stock 67072B107 25 2,500 2,500 Nuveen Insured NY Dividend Advantage Municipal Fund common stock 67071N102 84 6,000 6,000 Nuveen AZ Dividend Advantage Municipal Fund 2 common stock 67071P107 31 2,362 2,362 Nuveen MI Premium Income Municipal Fund common stock 67101Q109 425 31,221 31,221 Nuveen MD Premium Income Fund Preferred Series C preferred stock 67061Q404 21 2,000 2,000 Nuveen GA Premium Income Municipal Fund Preferred Series C preferred stock 67060F300 10 1,000 1,000 Nuveen VA Premium Income Municipal Preferred Series C preferred stock 67064R409 25 2,500 2,500 Nuveen PA Premium Income Municipal 2 common stock 67061F101 26 2,000 2,000 Nuveen PA Investment Quality Municipal common stock 670972108 27 2,000 2,000 Nuveen TX Quality Income Municipal Fund Preferred Series C preferred stock 670983402 86 8,600 8,600 Nuveen MI Quality Income Municipal Fund common stock 670979103 164 12,000 12,000 Nuveen NY Select Quality Municipal Fund common stock 670976109 57 4,000 4,000 Nuveen PA Dividend Advantage Municipal Fund 2 common stock 67071W102 32 2,359 2,359 Nuveen Pennsylvania Dividend Advantage Fund Preferred Series C preferred stock 67071W300 10 1,000 1,000 Nuveen AZ Dividend Advantage Municipal Fund 3 common stock 67072E101 20 1,553 1,553 Nuveen New York Dividend Advantage Municipal Fund 2 common stock 67070A101 53 4,000 4,000 Nuveen PA Dividend Advantage Municipal Fund common stock 67070E103 60 4,500 4,500 Nuveen CA Dividend Advantage Municipal Fund 3 Preferred Series C preferred stock 67066Y501 20 2,000 2,000 Nuveen MI Dividend Advantage Municipal Fund common stock 67070W103 109 8,423 8,423 Nuveen GA Dividend Advantage Municipal Fund Preferred Series C preferred stock 67070T308 20 2,000 2,000 MS Municipal Income Opportunities Trust II common stock 46133A100 37 5,205 5,205 John Hancock Patriot Premium Dividend II common stock 41013T105 18 1,396 1,396 Petroleum & Resources Corp. common stock 716549100 1,043 35,362 35,362 Flaherty & Crumrine Preferred Income Fund common stock 338480106 3 200 200 BlackRock Credit Allocation Income Trust I common stock 09255J101 63 6,671 6,671 BlackRock Credit Allocation Income Trust II common stock 09255H105 810 79,800 79,800 RMR Asia Pacific Real Estate Fund common stock 76970B101 2,007 108,526 108,526 RENN Global Entrepreneurs Fund common stock 759720105 286 122,701 122,701 Royce Focus Trust Preferred Series A preferred stock 78080N306 16 1,000 1,000 RMR Real Estate Income Fund common stock 74964K609 161 4,871 4,871 Royce Micro-Cap Trust, Inc. common stock 780915104 573 58,154 58,154 Royce Micro-Cap Trust, Inc. Preferred Series A preferred stock 780915302 66 2,600 2,600 Morgan Stanley Eastern Europe Fund common stock 616988101 19 1,000 1,000 Royce Value Trust common stock 780910105 1,012 67,802 67,802 Royce Value Trust Preferred Series B preferred stock 780910402 397 15,739 15,739 Guggenheim Raymond James SB-1 Equity common stock 18383M613 18 792 792 Western Asset Worldwide Income Fund common stock 957668106 1,075 77,663 77,663 LMP Capital and Income Fund common stock 50208A102 162 11,778 11,778 Singapore Fund common stock 82929L109 160 11,000 11,000 American Select Portfolio common stock 029570108 160 14,800 14,800 Spain Fund common stock 45082X103 8 1,000 1,000 Source Capital common stock 836144105 144 2,506 2,506 Special Opportunities Fund common stock 84741T104 31 2,000 2,000 Storage Technology Corp. common stock 19842X109 61 3,199 3,199 Swiss Helvetia Fund common stock 870875101 172 11,498 11,498 Templeton Dragon Fund common stock 88018T101 70 2,309 2,309 Thai Capital Fund common stock 882905201 134 14,000 14,000 Taiwan Greater China Fund common stock 874037104 69 9,031 9,031 Tim Hortons Inc. common stock 88706M103 1 13 13 LMP Corporate Loan Fund common stock 50208B100 115 9,258 9,258 Tuxis Corporation common stock 901144105 8 8,400 8,400 Tri-Continental Corp. common stock 895436103 2,761 184,913 184,913 Tri-Continental Corp. preferred preferred stock 895436202 24 500 500 TS&W/Claymore Tax-Advantaged Balanced Fund common stock 87280R108 91 8,000 8,000 United States Natural Gas Fund common stock 912318110 44 4,000 4,000 Liberty All-Star Equity Fund common stock 530158104 1,214 234,723 234,723 Cohen & Steers Select Utility Fund common stock 19248A109 1,069 60,047 60,047 Delaware Investments CO Insured Municipal Income preferred stock 246101109 51 4,000 4,000 Delaware Investments Minnesota Municipal Income II common stock 24610V103 131 10,314 10,314 Western Asset Claymore Inflation Linked Opportunities Fund common stock 95766R104 59 4,682 4,682 Zweig Fund common stock 989834106 267 77,979 77,979 Zweig Total Return Fund common stock 989837109 755 222,665 222,665 Zweig Fund common stock 989834106 267 77,979 77,979 Zweig Total Return Fund common stock 989837109 755 222,665 222,665 AMERICA MOVIL ADR SERIES L common stock 02364W105 1,217 23,595 23,595 ATLANTIC TELE NETWORK INC common stock 049079205 525 11,698 11,698 BANCOLOMBIA S.A. SPONS ADR common stock 05968L102 1,420 26,280 26,280 BCB HOLDINGS LTD common stock 072536907 61 70,348 70,348 CARNIVAL CORP common stock 143658300 1,562 41,500 41,500 CEMEX SAB SPONS ADR PART CER common stock 151290889 477 42,438 42,438 CHIQUITA BRANDS INTL common stock 170032809 260 17,000 17,000 CLEANPATH RESOURCES CORP common stock 18449M102 1 53,874 53,874 COCA COLA FEMSA SAB SP ADR common stock 191241108 2,093 24,500 24,500 FOMENTO ECONOMICO MEXICA UBD common stock 224205906 125 18,900 18,900 CEMEX SAB CPO common stock 240645903 48 55,790 55,790 KIMBERLY CLARK MEXICO CL A common stock 249191008 40 6,100 6,100 DORAL FINANCIAL CORP common stock 25811P886 23 11,500 11,500 GRUPO AEROPORTUARIO DE SUR B common stock 263934903 4 700 700 GRUPO MEXICO SA SER B common stock 264367905 13 3,863 3,863 AMERICA MOVIL SAB DE C SER A common stock 264997909 95 35,600 35,600 AMERICA MOVIL SAB DE C SER L common stock 266747906 282 104,572 104,572 TELEFONOS DE MEXICO SAB L common stock 288168008 65 78,600 78,600 GRUPO ELEKTRA SA common stock 296708902 65 1,270 1,270 FUEGO ENTERPRISES INC common stock 35953E102 12 377,100 377,100 GELTECH SOLUTIONS INC common stock 368537106 44 13,000 13,000 GRUPO CASA SABA SA SPON ADR common stock 40048P104 219 13,273 13,273 GRUPO RADIO CENTRO SAB SP AD common stock 40049C102 230 22,516 22,516 GRUPO TELEVISA SA SPON ADR common stock 40049J206 797 32,400 32,400 GRUPO TMM SA SP ADR A common stock 40051D303 21 12,280 12,280 ISHARES S+P LATIN AMERICA 40 I common stock 464287390 103 1,100 1,100 LENNAR CORP A common stock 526057104 681 37,500 37,500 MARGO CARIBE INC common stock 566605101 22 55,921 55,921 MASTEC INC common stock 576323109 1,403 71,132 71,132 NORFOLK SOUTHERN CORP common stock 655844108 1,424 19,000 19,000 POPULAR INC common stock 733174106 166 50,000 50,000 RAILAMERICA INC common stock 750753402 450 20,000 20,000 SEABOARD CORP common stock 811543107 3,194 1,321 1,321 SEACOR HOLDINGS INC common stock 811904101 200 2,000 2,000 SPANISH BROADCASTING SYS A common stock 846425882 56 80,304 80,304 TECO ENERGY INC common stock 872375100 859 40,500 40,500 TELEFONOS DE MEXICO SP ADR L common stock 879403780 380 15,000 15,000 TRAILER BRIDGE INC common stock 892782103 169 79,087 79,087 W HOLDING COMPANY INC common stock 929251874 1 3,844 3,844 WATSCO INC common stock 942622200 1,945 29,600 29,600 WESTERN UNION CO common stock 959802109 401 16,000 16,000 WALMART DE MEXICO SER V common stock B02YZ0905 267 90,222 90,222 SHELLSHOCK LTD common stock B27W7V903 3 3,250 3,250 IMPELLAM GROUP PLC common stock B2Q2M0909 76 13,000 13,000 SHELLPROOF LTD common stock B2R9C9905 3 4,420 4,420 CARIBBEAN UTILITIES CO LTD A common stock G1899E146 110 12,000 12,000 CONSOLIDATED WATER CO ORD SH common stock G23773107 621 66,841 66,841 FRESH DEL MONTE PRODUCE INC common stock G36738105 525 19,690 19,690 BANCO LATINOAMERICANO COME E common stock P16994132 727 39,000 39,000 COPA HOLDINGS SA CLASS A common stock P31076105 2,036 32,500 32,500 STEINER LEISURE LTD common stock P8744Y102 664 11,029 11,029 ULTRAPETROL (BAHAMAS) LTD common stock P94398107 138 28,000 28,000 ROYAL CARIBBEAN CRUISES LTD common stock V7780T103 1,675 44,500 44,500 TEEKAY LNG PARTNERS LP common stock Y8564M105 309 8,361 8,361 TEEKAY CORP common stock Y8564W103 618 20,000 20,000