0001398344-12-000517.txt : 20120214 0001398344-12-000517.hdr.sgml : 20120214 20120214084425 ACCESSION NUMBER: 0001398344-12-000517 CONFORMED SUBMISSION TYPE: 13F-HR PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 20111231 FILED AS OF DATE: 20120214 DATE AS OF CHANGE: 20120214 EFFECTIVENESS DATE: 20120214 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: 12602717 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 fp0004151_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: December 31, 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 February 14, 2012 ---------------------- --------- ----------------- [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: 274 ----------- Form 13F Information Table Value Total: $ 117,113 ----------- (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 ----------------------------- --------------- --------- -------- -------- --- ---- ---------- -------- --------- ------ ---- LMP Capital and Income Fund common stock 50208A102 12 988 988 Morgan Stanley China A Share Fund common stock 617468103 156 8,038 8,038 Internet Holdings Trust common stock 46059W102 70 1,000 1,000 AllianceBernstein Income Fund common stock 01881E101 250 31,000 31,000 Avenue Income Credit Strategies Fund common stock 05358E106 5 301 301 Adams Express common stock 006212104 2,148 222,848 222,848 Apollo Senior Floating Rate Fund common stock 037636107 58 3,601 3,601 Alpine Total Dynamic Dividend Fund common stock 021060108 2,910 664,390 664,390 Asia Pacific Fund common stock 044901106 9 1,000 1,000 Morgan Stanley Asia Pacific Fund common stock 61744U106 360 27,512 27,512 BlackRock Senior High Income Fund common stock 09255T109 15 4,000 4,000 ASA Gold and Precious Metals Limited common stock G3156P103 183 7,000 7,000 Liberty All-Star Growth Fund common stock 529900102 29 7,665 7,665 American Strategic Income Portfolio common stock 030098107 42 3,900 3,900 Advent Claymore Convertible Securities and Income Fund common stock 00764C109 15 1,000 1,000 Alpine Global Premier Properties Fund common stock 02083A103 380 71,661 71,661 Brantley Capital common stock 105494108 20 59,109 59,109 BlackRock Build America Bond Trust common stock 09248X100 237 11,101 11,101 Bancroft Fund Ltd. common stock 059695106 436 28,834 28,834 BlackRock Resources and Commodities/Strategies Trust common stock 09257A108 27 2,001 2,001 BlackRock Enhanced Equity Dividend Trust common stock 09251A104 156 22,000 22,000 BlackRock Strategic Equity Dividend Trust common stock 09249Y107 409 41,725 41,725 BlackRock Equity Dividend Trust common stock 09250N107 43 4,729 4,729 Blackstone/GSO Long-Short Credit Income Fund common stock 09257D102 17 1,001 1,001 BlackRock International Growth and Income Fund common stock 092524107 208 29,000 29,000 BlackRock Core Bond Trust common stock 09249E101 27 2,016 2,016 Boulder Growth and Income Fund common stock 101507101 324 56,509 56,509 BlackRock Income Trust common stock 09247F100 544 74,267 74,267 BlackRock Income Opportunity common stock 092475102 10 1,000 1,000 BlackRock Credit Allocation Income Trust III common stock 09249V103 455 43,200 43,200 BlackRock S&P Quality Rankings Global Equity Managed Trust common stock 09250D109 30 2,515 2,515 American Strategic Income Portfolio II common stock 030099105 890 110,420 110,420 Boulder Total Return Fund common stock 101541100 585 38,715 38,715 John Hancock Bank & Thrift Opportunity common stock 409735206 78 5,700 5,700 BlackRock Credit Allocation Income Trust IV common stock 092508100 1,157 95,244 95,244 Morgan Stanley China A Share Fund common stock 617468103 74 3,799 3,799 Central Europe and Russia Fund common stock 153436100 203 7,101 7,101 Central Fund of Canada common stock 153501101 20 1,000 1,000 Central Securities common stock 155123102 1,020 49,871 49,871 The China Fund common stock 169373107 205 10,000 10,000 Calamos Global Dynamic Income Fund common stock 12811L107 87 11,944 11,944 MFS Intermediate High Income Fund common stock 59318T109 1 300 300 MFS Intermarket Income Trust I common stock 59318R103 547 66,261 66,261 Cornerstone Total Return Fund common stock 21924U201 2 300 300 Cutwater Select Income Fund common stock 232229104 623 33,136 33,136 American Strategic Income Portfolio III common stock 03009T101 901 138,200 138,200 Calamos Strategic Total Return Fund common stock 128125101 2,413 288,935 288,935 The Herzfeld Caribbean Basin Fund common stock 42804T106 1,590 247,719 207,030 40,689 Virtus Total Return Fund common stock 92829A103 4,229 1,208,153 1,208,153 Diamond Hill Financial Trends Fund common stock 25264C101 84 10,122 10,122 DWS High Income Opportunities Fund common stock 23339M204 154 11,095 11,095 Dividend and Income Fund common stock 25538A105 57 16,500 16,500 Ellsworth Fund common stock 289074106 41 6,254 6,254 European Equity Fund common stock 298768102 92 15,500 15,500 Engex common stock 292851102 23 12,798 12,798 Western Asset Emerging Markets Income Fund common stock 95766E103 287 21,405 21,405 Enzo Biochem common stock 294100102 7 3,000 3,000 Eaton Vance Enhanced Equity Income Fund common stock 278274105 177 17,422 17,422 Eaton Vance Enhanced Equity Income Fund II common stock 278277108 31 3,000 3,000 Equus Total Return Fund common stock 294766100 351 156,631 156,631 Western Asset Emerging Markets Debt Fund common stock 95766A101 1,952 103,265 103,265 Eaton Vance Tax-Managed Buy-Write Income Fund common stock 27828X100 128 10,000 10,000 Aberdeen Emerging Markets Telecommunications Fund common stock 00301T102 60 3,400 3,400 Eaton Vance Tax-Advantaged Global Dividend Income Fund common stock 27828S101 131 10,717 10,717 Eaton Vance Risk-Managed Diversified Equity Income Fund common stock 27829G106 4,374 418,597 418,597 Eaton Vance Tax Advantaged Global Dividend Opportunity Fund common stock 27828U106 117 6,911 6,911 Eaton Vance Tax-Managed Buy-Write Opportunities Fund common stock 27828Y108 239 20,415 20,415 Eaton Vance Tax-Managed Global Buy-Write Opportunities Fund common stock 27829C105 632 61,516 61,516 Eaton Vance Tax-Managed Diversified Equity Income Fund common stock 27828N102 2,023 228,020 228,020 Eaton Vance Tax-Advanataged Bond & Option Strategies Fund common stock 27829M103 483 29,177 29,177 Eaton Vance Tax-Managed Global Diversified Equity Income Fund common stock 27829F108 3,561 431,642 431,642 First Trust Senior Floating Rate Income Fund II common stock 33733U108 299 22,700 22,700 First Trust/Aberdeen Emerging Opportunity Fund common stock 33731K102 31 1,730 1,730 Morgan Stanley Frontier Emerging Markets Fund common stock 61757P101 110 10,504 10,504 SunAmerica Focused Alpha Growth Fund common stock 867037103 141 7,737 7,737 SunAmerica Focused Alpha Large-Cap Fund common stock 867038101 230 14,171 14,171 First Trust Strategic High Income Fund II common stock 337353106 782 51,170 51,170 First Opportunity Fund common stock 33587T108 3,804 611,651 611,651 First Trust High Income Long/Short Fund common stock 33738E109 168 11,001 11,001 Franklin Universal Trust common stock 355145103 33 5,000 5,000 Federated Enhanced Treasury Income Fund common stock 314162108 4,154 289,504 289,504 Royce Focus Trust common stock 78080N108 171 27,124 27,124 Foxby Corp. common stock 351645106 126 101,538 101,538 Gabelli Equity Trust common stock 362397101 12 2,504 2,504 Gabelli Equity Trust preferred D preferred stock 362397705 222 8,672 8,672 General American Investors common stock 368802104 1,620 65,053 65,053 General American Investors preferred B preferred stock 368802401 194 7,600 7,600 Global Income & Currency Fund common stock 378968101 465 36,304 36,304 Greater China Fund common stock 39167B102 356 35,335 35,335 Gabelli Convertible & Income Securities preferred B preferred stock 36240B307 60 2,300 2,300 GDL Fund common stock 36245G103 319 27,046 27,046 GDL Fund preferred B preferred stock 361570302 1,748 34,010 34,010 Western Asset Global Corporate Defined Opportunity Fund common stock 95790C107 54 3,015 3,015 Gabelli Dividend and Income Trust common stock 36242H104 427 27,666 27,666 Gabelli Dividend & Income Trust preferred A preferred stock 36242H203 26 1,000 1,000 Guggenheim Equal Weight Enhanced Equity Income Fund common stock 40167M106 28 1,563 1,563 New Germany Fund common stock 644465106 508 41,469 41,469 Western Asset Variable Rate Strategic Fund common stock 957667108 15 1,000 1,000 Guggenheim Enhanced Equity Strategy Fund common stock 40167K100 48 3,016 3,016 Gabelli Global Multimedia Trust common stock 36239Q109 310 49,723 49,723 Gabelli Multimedia Trust preferred B preferred stock 36239Q307 205 7,934 7,934 Global Income Fund common stock 37934Y108 61 16,250 16,250 Clough Global Opportunities Fund common stock 18914E106 1,111 105,115 105,115 Clough Global Equity Fund common stock 18914C100 837 69,550 69,550 Clough Global Allocation Fund common stock 18913Y103 234 18,319 18,319 GAMCO Natural Resources, Gold & Income Trust common stock 36465E101 81 6,001 6,001 Gabelli Healthcare & Wellness (Rx) Trust common stock 36246K103 358 50,222 50,222 Helios Advantage Income Fund common stock 42327W206 80 10,210 10,210 Highland Credit Strategies Fund common stock 43005Q107 2 300 300 John Hancock Hedged Equity & Income Fund common stock 47804L102 308 21,001 21,001 BlackRock High Income Shares common stock 09250E107 66 30,304 30,304 Helios Multi-Sector High Income Fund common stock 42327Y202 3 500 500 H&Q Healthcare Investors common stock 404052102 306 21,680 21,680 H&Q Life Sciences Investors Fund common stock 404053100 75 6,514 6,514 Helios Strategic Income Fund common stock 42328A203 178 32,510 32,510 Helios Strategic Mortgage Income Fund common stock 42327M109 12 2,000 2,000 Invesco Insured California Municipal Securities common stock 46130W105 57 3,971 3,971 ING Infrastructure, Industrials and Materials Fund common stock 45685U100 207 13,470 13,470 Aberdeen Indonesia Fund common stock 00305P106 522 44,321 44,321 CBRE Clarion Global Real Estate Income Fund common stock 44982G104 62 9,000 9,000 Invesco California Insured Municipal Income common stock 46130L109 167 11,000 11,000 Morgan Stanley India Investment Fund common stock 61745C105 198 14,100 14,100 Western Asset Inflation Management Fund common stock 95766U107 92 5,261 5,261 Cohen & Steers Global Income Builder Fund common stock 19248M103 78 8,400 8,400 Invesco California Quality Municipal Securities common stock 46130M107 82 6,000 6,000 Invesco New York Quality Municipal Securities common stock 46133F109 63 4,000 4,000 New Ireland Fund common stock 645673104 127 18,278 18,278 Aberdeen Israel Fund common stock 00301L109 35 2,750 2,750 Nuveen Core Equity Alpha Fund common stock 67090X107 103 8,283 8,283 Nuveen Diversified Dividend & Income Fund common stock 6706EP105 318 31,000 31,000 Japan Equity Fund common stock 471057109 829 165,868 165,868 Jardine Fleming China Region Fund common stock 46614T107 150 13,567 13,567 Nuveen Tax-Advantaged Floating Rate Fund common stock 6706EV102 204 99,336 99,336 Nuveen Multi-Currency Short-Term Government Income Fund common stock 67090N109 1,696 140,078 140,078 Nuveen Mortgage Opportunity Term Trust common stock 670735109 41 2,001 2,001 Japan Smaller Capitalization Fund common stock 47109U104 202 28,143 28,143 Nuveen Multi-Strategy Income and Growth Fund common stock 67073B106 191 23,857 23,857 Nuveen Equity Premium & Growth Fund common stock 6706EW100 72 6,001 6,001 Nuveen Multi-Strategy Income and Growth Fund 2 common stock 67073D102 242 30,067 30,067 Nuveen Tax-Advantaged Total Return Strategy Fund common stock 67090H102 48 5,000 5,000 Nuveen Tax-Advantaged Dividend Growth Fund common stock 67073G105 52 4,268 4,268 Korea Fund common stock 500634209 1,176 32,900 32,900 Aberdeen Latin America Equity Fund common stock 00306K106 3 88 88 DWS Global High Income Fund common stock 23338W104 50 6,600 6,600 Malaysia Fund common stock 560905101 33 3,640 3,640 BlackRock MuniYield California Quality Fund common stock 09254N103 163 11,400 11,400 Madison/Claymore Covered Call & Equity Strategy Fund common stock 556582104 37 5,000 5,000 MFS Charter Income Fund common stock 552727109 157 17,200 17,200 MFS Government Markets Income Trust common stock 552939100 42 6,000 6,000 Macquarie Global Infrastructure Total Return Fund common stock 55608D101 410 24,133 24,133 American Income Fund common stock 02672T109 49 6,400 6,400 Morgan Stanley Emerging Markets Debt Fund common stock 61744H105 562 53,999 53,999 Morgan Stanley Emerging Markets common stock 61744G107 307 23,724 23,724 Madison Strategic Sector Premium Fund common stock 558268108 75 7,043 7,043 Montgomery Street Income Securities common stock 614115103 713 46,222 46,222 Mexico Equity & Income Fund common stock 592834105 166 16,696 16,696 Mexico Fund common stock 592835102 71 3,256 3,256 Nuveen California Premium Income Municipal preferred C preferred stock 6706L0300 10 1,000 1,000 Nuveen Georgia Dividend Advantage Municipal 2 preferred C preferred stock 67072B305 25 2,500 2,500 Nuveen Arizona Dividend Advantage Municipal Fund 2 common stock 67071P107 9 662 662 Nuveen Michigan Premium Income Municipal Fund common stock 67101Q109 314 22,221 22,221 Nuveen Maryland Premium Income Municipal Fund preferred C preferred stock 67061Q404 20 2,000 2,000 Nuveen Georgia Premium Income Municipal Fund preferred C preferred stock 67060F300 10 1,000 1,000 Nuveen Virginia Premium Income Municipal preferred C preferred stock 67064R409 25 2,500 2,500 Nuveen Pennsylvania Premium Income Municipal 2 common stock 67061F101 28 2,000 2,000 Neuberger Berman Real Estate Securities Income Fund common stock 64190A103 492 131,184 131,184 Nuveen Michigan Quality Income Municipal Fund common stock 670979103 88 6,000 6,000 Nuveen Pennsylvania Dividend Advantage Municipal Fund 2 preferred C preferred stock 67071W300 10 1,000 1,000 Nuveen New York Dividend Advantage Municipal Fund 2 common stock 67070A101 29 2,000 2,000 Nuveen Pennsylvania Dividend Advantage Municipal Fund common stock 67070E103 27 1,900 1,900 Nuveen California Dividend Advantage Municipal Fund 3 common stock 67070Y109 27 2,000 2,000 Nuveen Michigan Dividend Advantage Municipal Fund common stock 67070W103 68 5,000 5,000 Nuveen Georgia Dividend Advantage Municipal preferred C preferred stock 67070T308 20 2,000 2,000 Invesco Municipal Income Opportunities Trust II common stock 46133A100 39 5,205 5,205 John Hancock Premium Dividend Fund common stock 41013T105 16 1,217 1,217 Petroleum & Resources Corp. common stock 716549100 2,248 91,830 91,830 Putnam Premier Income Trust common stock 746853100 5 1,000 1,000 BlackRock Credit Allocation Income Trust I common stock 09255J101 216 23,200 23,200 BlackRock Credit Allocation Income Trust II common stock 09255H105 804 81,800 81,800 RMR Asia Pacific Real Estate Fund common stock 76970B101 1,021 72,792 72,792 RENN Global Entrepreneurs Fund common stock 759720105 226 124,129 124,129 Royce Focus Trust preferred A preferred stock 78080N306 26 1,000 1,000 RMR Real Estate Fund common stock 74964K609 1,972 69,906 69,906 LMP Real Estate Income Fund common stock 50208C108 56 6,000 6,000 Royce Micro-Cap Trust, Inc. common stock 780915104 683 77,875 77,875 Royce MicroCap Trust preferred A preferred stock 780915302 66 2,600 2,600 Morgan Stanley Eastern Europe Fund common stock 616988101 40 3,000 3,000 Cohen & Steers Quality Income Realty Fund common stock 19247L106 102 12,000 12,000 Royce Value Trust common stock 780910105 1,844 150,248 150,248 Royce Value Trust preferred B preferred stock 780910402 122 4,739 4,739 Starbucks Corp. common stock 855244109 28 600 600 Western Asset Worldwide Income Fund common stock 957668106 795 57,692 57,692 LMP Capital and Income Fund common stock 50208A102 82 6,666 6,666 Singapore Fund common stock 82929L109 105 9,656 9,656 American Select Portfolio common stock 029570108 160 15,998 15,998 Source Capital common stock 836144105 320 6,808 6,808 Special Opportunities Fund common stock 84741T104 29 2,000 2,000 Swiss Helvetia Fund common stock 870875101 73 7,324 7,324 Templeton Dragon Fund common stock 88018T101 41 1,600 1,600 Thai Capital Fund common stock 882905201 120 14,000 14,000 Tim Hortons Inc. common stock 88706M103 1 13 13 Turkish Investment Fund common stock 900145103 126 11,400 11,400 LMP Corporate Loan Fund common stock 50208B100 101 9,053 9,053 Tortoise Capital Resources Corp. common stock 89147N304 4 510 510 Tuxis Corp. common stock 901144105 9 7,900 7,900 Taiwan Fund common stock 874036106 117 8,100 8,100 Tri-Continental Corp. common stock 895436103 3,645 256,119 256,119 Tri-Continental Corp. preferred preferred stock 895436202 23 500 500 Liberty All-Star Equity Fund common stock 530158104 1,463 346,578 346,578 Cohen & Steers Select Utility Fund common stock 19248A109 949 60,047 60,047 Delaware Investments Colorado Municipal Income Fund. common stock 246101109 54 4,000 4,000 Delaware Investments Minnesota Municipal Income II common stock 24610V103 160 11,814 11,814 Western Asset/Claymore US Tsy. Inflation-Linked Securities & Income Fund common stock 95766Q106 38 3,000 3,000 Western Asset/Claymore US Tsy. Inflation Linked Opportunities & Income Fund common stock 95766R104 223 17,682 17,682 VelocityShares Daily Inverse VIX Short common stock 22542D795 326 50,000 50,000 Zweig Fund common stock 989834106 227 78,161 78,161 Zweig Total Return Fund common stock 989837109 1,117 368,653 368,653 JZ Capital Partners common stock G5216J134 317 60,000 60,000 AMERICA MOVIL ADR SERIES L common stock 02364W105 1,010 44,690 44,690 ATLANTIC TELE NETWORK INC common stock 049079205 496 12,698 12,698 BANCOLOMBIA S.A. SPONS ADR common stock 05968L102 1,178 19,780 19,780 BCB HOLDINGS LTD common stock 072536907 30 70,348 70,348 CARNIVAL CORP common stock 143658300 1,338 41,000 41,000 CEMEX SAB SPONS ADR PART CER common stock 151290889 299 55,438 55,438 CHIQUITA BRANDS INTL common stock 170032809 167 20,000 20,000 COCA COLA FEMSA SAB SP ADR common stock 191241108 2,142 22,500 22,500 FOMENTO ECONOMICO MEX SP ADR common stock 344419106 418 6,000 6,000 FOMENTO ECONOMICO MEXICA UBD common stock 224205906 132 18,900 18,900 CEMEX SAB CPO common stock 240645903 30 55,790 55,790 KIMBERLY CLARK MEXICO CL A common stock 249191008 33 6,100 6,100 DORAL FINANCIAL CORP common stock 25811P886 11 11,500 11,500 GRUPO AEROPORTUARIO DE SUR B common stock 263934903 4 700 700 GRUPO MEXICO SA SER B common stock 264367905 10 3,872 3,872 AMERICA MOVIL SAB DE C SER A common stock 264997909 76 71,200 71,200 AMERICA MOVIL SAB DE C SER L common stock 266747906 236 209,144 209,144 GRUPO ELEKTRA SA common stock 296708902 127 1,270 1,270 FUEGO ENTERPRISES INC common stock 35953E102 4 377,100 377,100 GELTECH SOLUTIONS INC common stock 368537106 14 25,000 25,000 GRUPO CASA SABA SA SPON ADR common stock 40048P104 111 15,273 15,273 GRUPO RADIO CENTRO SAB SP AD common stock 40049C102 214 23,666 23,666 GRUPO TELEVISA SA SPON ADR common stock 40049J206 682 32,400 32,400 GRUPO TMM SA SP ADR A common stock 40051D303 18 12,280 12,280 LENNAR CORP A common stock 526057104 737 37,500 37,500 MARGO CARIBE INC common stock 566605101 132 64,239 64,239 MASTEC INC common stock 576323109 1,288 74,132 74,132 NORFOLK SOUTHERN CORP common stock 655844108 1,348 18,500 18,500 POPULAR INC common stock 733174106 83 60,000 60,000 PRICEMART INC common stock 741511109 835 12,000 12,000 RAILAMERICA INC common stock 750753402 447 30,000 30,000 SEABOARD CORP common stock 811543107 2,690 1,321 1,321 SEACOR HOLDINGS INC common stock 811904101 178 2,000 2,000 SPANISH BROADCASTING SYS A common stock 846425882 24 8,030 8,030 TECO ENERGY INC common stock 872375100 871 45,500 45,500 TRAILER BRIDGE INC common stock 892782103 8 93,687 93,687 W HOLDING COMPANY INC common stock 929251874 0 3,844 3,844 WATSCO INC common stock 942622200 1,845 28,100 28,100 WESTERN UNION CO common stock 959802109 365 20,000 20,000 WALMART DE MEXICO SER V common stock B02YZ0905 248 90,222 90,222 SHELLSHOCK LTD common stock B27W7V903 2 3,250 3,250 IMPELLAM GROUP PLC common stock B2Q2M0909 54 13,000 13,000 SHELLPROOF LTD common stock B2R9C9905 3 4,420 4,420 CARIBBEAN UTILITIES CO LTD A common stock G1899E146 115 12,000 12,000 CONSOLIDATED WATER CO ORD SH common stock G23773107 573 66,841 66,841 FRESH DEL MONTE PRODUCE INC common stock G36738105 492 19,690 19,690 BANCO LATINOAMERICANO COME E common stock P16994132 674 42,000 42,000 COPA HOLDINGS SA CLASS A common stock P31076105 1,672 28,500 28,500 STEINER LEISURE LTD common stock P8744Y102 659 14,527 14,527 ULTRAPETROL (BAHAMAS) LTD common stock P94398107 83 28,000 28,000 ROYAL CARIBBEAN CRUISES LTD common stock V7780T103 1,090 44,000 44,000 TEEKAY LNG PARTNERS LP common stock Y8564M105 277 8,361 8,361 TEEKAY CORP common stock Y8564W103 535 20,000 20,000 GARMIN LIMITED common stock H2906T109 80 2,000 2,000 HOMEX DEVELOPMENT CORP. ADR common stock 25030W100 69 4,100 4,100 FREEPORT MCMORAN COPPER common stock 35671D857 74 2,000 2,000