President

0001398344-17-006448.txt : 20170515 0001398344-17-006448.hdr.sgml : 20170515 20170515162900 ACCESSION NUMBER: 0001398344-17-006448 CONFORMED SUBMISSION TYPE: 13F-HR PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20170331 FILED AS OF DATE: 20170515 DATE AS OF CHANGE: 20170515 EFFECTIVENESS DATE: 20170515 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: 17844721 BUSINESS ADDRESS: STREET 1: 119 WASHINGTON AVENUE, SUITE 504 CITY: MIAMI BEACH STATE: FL ZIP: 33139 BUSINESS PHONE: 305-271-1900 MAIL ADDRESS: STREET 1: 119 WASHINGTON AVENUE, SUITE 504 CITY: MIAMI BEACH STATE: FL ZIP: 33139 13F-HR 1 primary_doc.xml 13F-HR LIVE false false false 0001509510 XXXXXXXX 03-31-2017 03-31-2017 false Thomas J. Herzfeld Advisors, Inc.

119 Washington Avenue, Suite 504 Miami Beach FL 33139

13F HOLDINGS REPORT 028-14375 N Erik M. Herzfeld President 305-271-1900 /s/ Erik M. Herzfeld Miami Beach FL 05-15-2017 1 296 227550 1 0000019481 028-00085 Virtus Investment Advisers, Inc. INFORMATION TABLE 2 fp0025821_13fhr-table.xml 13F INFORMATION TABLE 3M Company COM 88579Y101 188 981 SH SOLE 981 0 0 Abbott Laboratories COM 002824100 55 1249 SH SOLE 1249 0 0 Aberdeen Chile Fund Inc. COM 00301W105 76 10959 SH SOLE 10959 0 0 Aberdeen Emerging Markets Smaller Company Opportunities Fund, Inc. COM 00301T102 279 21384 SH SOLE 21384 0 0 Aberdeen Greater China Fund, Inc. COM 003031101 21 2000 SH SOLE 2000 0 0 Aberdeen Indonesia Fund, Inc. COM 00305P106 123 17020 SH SOLE 17020 0 0 Aberdeen Israel Fund, Inc. COM 00301L109 62 3550 SH SOLE 3550 0 0 Aberdeen Japan Equity Fund, Inc. COM 00306J109 2709 340316 SH OTR 1 232573 107743 0 Aberdeen Latin America Equity Fund, Inc. COM 00306K106 520 22110 SH OTR 1 4000 18110 0 Aberdeen Singapore Fund, Inc. COM 003244100 196 18335 SH SOLE 18335 0 0 Adams Diversified Equity Fund, Inc. COM 006212104 7604 553051 SH OTR 1 426060 126991 0 Adams Natural Resources Fund, Inc. COM 00548F105 4217 217168 SH OTR 1 117960 99208 0 Advent Claymore Convertible Securities & Income Fund II COM 007639107 46 7516 SH SOLE 7516 0 0 Advent/Claymore Enhanced Growth & Income Fund COM 00765E104 449 53177 SH SOLE 53177 0 0 Alexion Pharmaceuticals, Inc. COM 015351109 18 152 SH SOLE 152 0 0 Allegion PLC ORD SHS G0176J109 29 386 SH SOLE 386 0 0 Alliance California Municipal Income Fund, Inc. COM 018546101 233 17511 SH SOLE 17511 0 0 AllianceBernstein Global High Income Fund COM 01879R106 38 3000 SH SOLE 3000 0 0 AllianceBernstein National Municipal Income Fund COM 01864U106 303 22655 SH SOLE 22655 0 0 AllianzGI Equity & Convertible Income Fund COM 018829101 39 2000 SH SOLE 2000 0 0 AllianzGI NFJ Dividend, Interest & Premium Strategy Fund COM 01883A107 1493 115788 SH OTR 1 4080 111708 0 Alpine Global Dynamic Dividend Fund COM NEW 02082E205 3120 319697 SH OTR 1 212838 106859 0 Alpine Total Dynamic Dividend Fund COM SH BEN INT 021060207 5976 723522 SH OTR 1 517713 205809 0 America Movil S.A.B. de C.V. SPON ADR L SHS 02364W105 633 44690 SH SOLE 44690 0 0 American Electric Power Co., Inc. COM 025537101 35 528 SH SOLE 528 0 0 American Express Company COM 025816109 95 1199 SH SOLE 1199 0 0 Amgen Inc. COM 031162100 115 700 SH SOLE 700 0 0 Apollo Tactical Income Fund Inc COM 037638103 1166 70779 SH SOLE 70779 0 0 Apple Inc. COM 037833100 100 696 SH SOLE 696 0 0 Archer Daniels Midland Company COM 039483102 230 5000 SH SOLE 5000 0 0 Ares Dynamic Credit Allocation Fund, Inc. COM 04014F102 106 6596 SH SOLE 6596 0 0 ASA Gold and Precious Metals Limited SHS G3156P103 60 5000 SH SOLE 5000 0 0 Asia Pacific Fund COM 044901106 63 5150 SH SOLE 5150 0 0 Asia Tigers Fund, Inc. COM 04516T105 23 2000 SH SOLE 2000 0 0 ASML Holding NV N Y REGISTRY SHS N07059210 27 200 SH SOLE 200 0 0 AstraZeneca PLC SPONSORED ADR 046353108 18 585 SH SOLE 585 0 0 ATN International Inc. COM 00215F107 844 11988 SH SOLE 11988 0 0 Avenue Income Credit Strategies Fund COM 05358E106 2200 157561 SH OTR 1 99705 57856 0 Avianca Holdings S.A. SPON ADR REP PFD 05367G100 1708 221569 SH SOLE 221569 0 0 Baidu, Inc. SPON ADR REP A 056752108 30 176 SH SOLE 176 0 0 Banco Bilbao Vizcaya Argentaria, S.A. SPONSORED ADR 05946K101 53 6927 SH SOLE 6927 0 0 Bancolombia S.A. SPON ADR PREF 05968L102 789 19780 SH SOLE 19780 0 0 Bancroft Fund Ltd. COM 059695106 37 1746 SH SOLE 1746 0 0 BioMarin Pharmaceutical Inc. COM 09061G101 35 400 SH SOLE 400 0 0 BlackRock Credit Allocation Income Trust COM 092508100 1275 96910 SH OTR 1 34406 62504 0 BlackRock Enhanced Equity Dividend Trust COM 09251A104 12 1346 SH SOLE 1346 0 0 BlackRock Limited Duration Income Trust COM SHS 09249W101 4 250 SH SOLE 250 0 0 BlackRock Multi-Sector Income Trust COM 09258A107 250 14441 SH SOLE 14441 0 0 BlackRock Muni Intermediate Duration Fund, Inc. COM 09253X102 133 9580 SH SOLE 9580 0 0 BlackRock Resources & Commodities Strategy Trust SHS 09257A108 136 15756 SH SOLE 15756 0 0 BlackRock Science and Technology Trust SHS 09258G104 12082 570987 SH OTR 1 440645 130342 0 Blackstone/GSO Strategic Credit Fund COM SHS BEN IN 09257R101 198 12481 SH SOLE 12481 0 0 Boulder Growth and Income Fund, Inc. COM 101507101 15706 1688824 SH OTR 1 1385722 303102 0 Bristol-Myers Squibb Company COM 110122108 92 1700 SH SOLE 1700 0 0 British America Tobacco PLC SPONSORED ADR 110448107 36 546 SH SOLE 546 0 0 Brookfield Real Assets Income Fund Inc. SHS BEN INT 112830104 113 4941 SH SOLE 4941 0 0 BT Group PLC ADR 05577E101 47 2322 SH SOLE 2322 0 0 Calamos Global Dynamic Income Fund COM 12811L107 115 14800 SH SOLE 14800 0 0 Canadian Natural Resources Limited COM 136385101 33 998 SH SOLE 998 0 0 Carnival Corp. UNIT 143658300 2439 41400 SH SOLE 41400 0 0 Caterpillar Inc. COM 149123101 65 703 SH SOLE 703 0 0 Celgene Corporation COM 151020104 100 800 SH SOLE 800 0 0 Cemex, S.A.B. de C.V. SPON ADR NEW 151290889 2142 236198 SH SOLE 236198 0 0 Central Europe Russia and Turkey Fund COM 153436100 37 1779 SH SOLE 1779 0 0 Central Fund of Canada Limited CL A 153501101 103 8000 SH SOLE 8000 0 0 Central Securities Corp. COM 155123102 7750 323401 SH OTR 1 201353 122048 0 Chevron Corporation COM 166764100 77 713 SH SOLE 713 0 0 China Fund, Inc. COM 169373107 58 3500 SH SOLE 3500 0 0 China Petroleum & Chemical Corp. SPON ADR H SHS 16941R108 38 466 SH SOLE 466 0 0 Chubb Limited COM H1467J104 34 246 SH SOLE 246 0 0 Cisco Systems, Inc. COM 17275R102 24 703 SH SOLE 703 0 0 ClearBridge American Energy MLP Fund Inc. COM 184691103 370 37262 SH SOLE 37262 0 0 ClearBridge Energy MLP Total Return Fund Inc. COM 18469Q108 122 8926 SH SOLE 8926 0 0 Clough Global Allocation Fund COM 18913Y103 40 3000 SH SOLE 3000 0 0 Clough Global Opportunities Fund SH BEN INT 18914E106 857 83243 SH OTR 1 42766 40477 0 Coca-Cola European Partners PLC SHS G25839104 32 842 SH SOLE 842 0 0 Cohen & Steers Global Income Builder, Inc. COM 19248M103 6 635 SH SOLE 635 0 0 Cohen & Steers Infrastructure Fund, Inc. COM 19248A109 1432 66453 SH SOLE 66453 0 0 Cohen & Steers MLP Income and Energy Opportunity Fund COM SHS 19249B106 1066 95118 SH OTR 1 74505 20613 0 Consolidated Water Co. Ltd. ORD G23773107 1509 129538 SH SOLE 129538 0 0 Copa Holdings SA CL A P31076105 3623 32273 SH SOLE 32273 0 0 Cornerstone Strategic Value Fund Inc. COM 21924B302 15 898 SH SOLE 898 0 0 Credicorp Ltd. COM G2519Y108 31 187 SH SOLE 187 0 0 Credit Suisse Group AG SPONSORED ADR 225401108 29 1978 SH SOLE 1978 0 0 Cushing MLP Total Return Fund COM NEW 231631201 138 9899 SH SOLE 9899 0 0 Cushing Renaissance Fund COM 231647108 238 12905 SH SOLE 12905 0 0 CVS Health Corporation COM 126650100 31 389 SH SOLE 389 0 0 Delaware Enhanced Global Dividend & Income Fund COM 246060107 416 37855 SH OTR 1 18983 18872 0 Delaware Investments Dividend and Income Fund, Inc. COM 245915103 27 2624 SH SOLE 2624 0 0 Deutsche Multi-Market Income Trust SHS 25160E102 41 4751 SH SOLE 4751 0 0 Deutsche Strategic Income Trust SHS 25160F109 5 400 SH SOLE 400 0 0 Diageo PLC SPON ADR NEW 25243Q205 34 293 SH SOLE 293 0 0 Diversified Real Asset Income Fund COM SHS 25533B108 1313 75694 SH OTR 1 56068 19626 0 Dominion Resources, Inc. COM 25746U109 34 435 SH SOLE 435 0 0 DoubleLine Income Solutions Fund COM 258622109 853 42500 SH OTR 1 2500 40000 0 Dreyfus Municipal Bond Infrastructure Fund, Inc. SHS 26203D101 305 24037 SH SOLE 24037 0 0 Dreyfus Municipal Income, Inc. COM 26201R102 31 3441 SH SOLE 3441 0 0 E.I. du Pont de Nemours and Company COM 263534109 101 1256 SH SOLE 1256 0 0 Eaton Vance California Municipal Income Trust SH BEN INT 27826F101 184 14983 SH SOLE 14983 0 0 Eaton Vance Enhanced Equity Income Fund COM 278274105 3 250 SH SOLE 250 0 0 Eaton Vance New York Municipal Bond Fund II COM 27828T109 236 20000 SH SOLE 20000 0 0 Eli Lilly and Company COM 532457108 50 600 SH SOLE 600 0 0 Empire State Realty Trust, Inc. CL A 292104106 700 33894 SH SOLE 33894 0 0 Equus Total Return, Inc. COM 294766100 134 53796 SH SOLE 53796 0 0 Era Group Inc. COM 26885G109 285 21515 SH SOLE 21515 0 0 European Equity Fund, Inc. COM 298768102 78 9358 SH SOLE 9358 0 0 Evertec Inc. COM 30040P103 376 23643 SH SOLE 23643 0 0 Exxon Mobil Corporation COM 30231G102 92 1124 SH SOLE 1124 0 0 Ferrari N.V. COM N3167Y103 36 489 SH SOLE 489 0 0 First Bancorp Puerto Rico COM NEW 318672706 509 90100 SH SOLE 90100 0 0 First Trust Dynamic Europe Equity Income Fund COM SHS 33740D107 3058 177196 SH OTR 1 129441 47755 0 First Trust Energy Infrastructure Fund COM 33738C103 2134 110592 SH SOLE 110592 0 0 First Trust High Income Long/Short Fund COM 33738E109 788 47305 SH SOLE 47305 0 0 First Trust Mortgage Income Fund COM SHS 33734E103 36 2535 SH SOLE 2535 0 0 Fomento Economico Mexicano, S.A.B. de C.V. SPON ADR UNITS 344419106 1293 14610 SH SOLE 14610 0 0 Franklin Limited Duration Income Trust COM 35472T101 343 28651 SH OTR 1 0 28651 0 Freeport McMoran Copper & Gold CL B 35671D857 428 32000 SH SOLE 32000 0 0 Fresh Del Monte Produce Inc. ORD G36738105 296 5000 SH SOLE 5000 0 0 Gabelli Dividend & Income Trust COM 36242H104 1020 48888 SH SOLE 48888 0 0 Gabelli Equity Trust, Inc. COM 362397101 25 4202 SH SOLE 4202 0 0 Gabelli Global Small and Mid-Cap Value Fund COM 36249W104 8 700 SH SOLE 700 0 0 Gabelli Global Utility & Income Trust COM SH BEN INT 36242L105 27 1463 SH SOLE 1463 0 0 Gabelli Healthcare & Wellness (Rx) Trust SHS 36246K103 2555 255756 SH OTR 1 182231 73525 0 Gabelli Multimedia Trust Inc. COM 36239Q109 124 15423 SH SOLE 15423 0 0 GDL Fund COM SH BEN IT 361570104 49 5000 SH SOLE 5000 0 0 General American Investors Company, Inc. COM 368802104 4492 134052 SH OTR 1 101366 32686 0 General Electric Company COM 369604103 71 2375 SH SOLE 2375 0 0 Gildan Activewear Inc. COM 375916103 26 959 SH SOLE 959 0 0 Gilead Sciences Inc. COM 375558103 136 2000 SH SOLE 2000 0 0 Goldman Sachs MLP Income Opportunities Fund COM SHS 38147W103 15 1451 SH SOLE 1451 0 0 Grupo Aeroportuario del Sureste, S.A.B. de C.V. SPON ADR SER B 40051E202 364 2100 SH SOLE 2100 0 0 Grupo Televisa, S.A.B. SPON ADR REP ORD 40049J206 737 28400 SH SOLE 28400 0 0 Guggenheim Enhanced Equity Income Fund COM 40167B100 1087 134543 SH SOLE 134543 0 0 GW Pharmaceuticals PLC ADS 36197T103 24 201 SH SOLE 201 0 0 ICIC Bank Ltd. ADR 45104G104 71 8225 SH SOLE 8225 0 0 Incyte Corporation COM 45337C102 32 242 SH SOLE 242 0 0 ING Groep N.V. SPONSORED ADR 456837103 23 1536 SH SOLE 1536 0 0 Ingersoll-Rand PLC SHS G47791101 31 382 SH SOLE 382 0 0 Inovio Pharmaceuticals, Inc. COM NEW 45773H201 99 15000 SH SOLE 15000 0 0 Intel Corporation COM 458140100 68 1897 SH SOLE 1897 0 0 International Business Machines Corporation COM 459200101 123 709 SH SOLE 709 0 0 iShares Nasdaq Biotechnology NASDQ BIOTEC ETF 464287556 176 600 SH SOLE 600 0 0 iShares Short Maturity Bond SH MAT BD ETF 46431W507 503 10000 SH SOLE 10000 0 0 iShares TIPS Bond TIPS BD ETF 464287176 47 410 SH SOLE 410 0 0 iShares US Medical Devices U.S. MED DVC ETF 464288810 432 2850 SH SOLE 2850 0 0 Itau Unibanco Holding S.A. SPON ADR REP PFD 465562106 41 3405 SH SOLE 3405 0 0 Japan Smaller Capitalization Fund Inc. COM 47109U104 1939 178896 SH OTR 1 80968 97928 0 John Hancock Tax-Advantaged Dividend Income Fund COM 41013V100 16 656 SH SOLE 656 0 0 Johnson & Johnson COM 478160104 127 1016 SH SOLE 1016 0 0 JPMorgan Chase & Co. COM 46625H100 115 1306 SH SOLE 1306 0 0 Karyopharm Therapeutics Inc. COM 48576U106 63 4868 SH SOLE 4868 0 0 Kayne Anderson MLP Investment Company COM 486606106 269 13073 SH SOLE 13073 0 0 Koninklijke Philips N.V. NY REG SH NEW 500472303 43 1335 SH SOLE 1335 0 0 Ladenburg Thalmann Financial Services Inc. COM 50575Q102 25 10000 SH SOLE 10000 0 0 Latin American Discovery Fund Inc. COM 51828C106 36 3393 SH SOLE 3393 0 0 Legg Mason BW Global Income Opportunities Fund COM 52469B100 49 3864 SH SOLE 3864 0 0 Lennar Corp. CL A 526057104 2534 49500 SH SOLE 49500 0 0 Liberty All-Star Equity Fund SH BEN INT 530158104 5741 1051395 SH OTR 1 843497 207898 0 Liberty All-Star Growth Fund, Inc. COM 529900102 682 150166 SH SOLE 150166 0 0 LivaNova PLC SHS G5509L101 408 8330 SH SOLE 8330 0 0 LMP Capital and Income Fund, Inc. COM 50208A102 409 28740 SH SOLE 28740 0 0 LyondellBasell Industries N.V. SHS - A - N53745100 40 442 SH SOLE 442 0 0 Macquarie Global Infrastructure Total Return Fund Inc. COM 55608D101 365 15984 SH SOLE 15984 0 0 Marriott Vacations Worldwide Corp. COM 57164Y107 1074 10745 SH SOLE 10745 0 0 Martin Marietta Materials Inc. COM 573284106 655 3000 SH SOLE 3000 0 0 MasTec, Inc. COM 576323109 4282 106927 SH SOLE 106927 0 0 MasterCard Incorporated CL A 57636Q104 41 366 SH SOLE 366 0 0 McDonald's Corp. COM 580135101 140 1082 SH SOLE 1082 0 0 Mercadolibre, Inc. COM 58733R102 17 82 SH SOLE 82 0 0 Merck & Co. Inc. COM 58933Y105 172 2701 SH SOLE 2701 0 0 MetLife, Inc. COM 59156R108 55 1040 SH SOLE 1040 0 0 Mexico Equity and Income Fund, Inc. COM 592834105 381 35117 SH SOLE 35117 0 0 MFS Charter Income Trust SH BEN INT 552727109 61 7057 SH SOLE 7057 0 0 MFS Investment Grade Municipal Trust SH BEN INT 59318B108 185 19157 SH SOLE 19157 0 0 Microsoft Corporation COM 594918104 90 1361 SH SOLE 1361 0 0 Morgan Stanley Asia Pacific Fund COM 61744U106 173 11286 SH SOLE 11286 0 0 Morgan Stanley China A Share Fund COM 617468103 559 29081 SH SOLE 29081 0 0 Morgan Stanley Emerging Markets Fund, Inc. COM 61744G107 11 716 SH SOLE 716 0 0 Morgan Stanley Income Securities Inc. INCOME SECS INC 61745P874 28 1555 SH SOLE 1555 0 0 Morgan Stanley India Investment Fund COM 61745C105 116 3674 SH SOLE 3674 0 0 MVC Capital, Inc. COM 553829102 18 2018 SH SOLE 2018 0 0 NetEase, Inc. SPONSORED ADR 64110W102 32 111 SH SOLE 111 0 0 Neuberger Berman MLP Income Fund Inc. COM 64129H104 682 67367 SH SOLE 67367 0 0 New Germany Fund, Inc. COM 644465106 2159 146180 SH OTR 1 86019 60161 0 New Ireland Fund, Inc. COM 645673104 98 7728 SH SOLE 7728 0 0 NexPoint Credit Strategies Fund COM NEW 65340G205 14270 623159 SH OTR 1 447082 176077 0 NextEra Energy, Inc. COM 65339F101 1070 8337 SH SOLE 8337 0 0 Nike, Inc. CL B 654106103 39 692 SH SOLE 692 0 0 Norfolk Southern Corp. COM 655844108 216 1928 SH SOLE 1928 0 0 Norwegian Cruise Line Holdings Ltd. SHS G66721104 2939 57943 SH SOLE 57943 0 0 Nuveen AMT-Free Quality Municipal Income Fund COM 670657105 181 13553 SH SOLE 13553 0 0 Nuveen Core Equity Alpha Fund COM 67090X107 66 4772 SH SOLE 4772 0 0 Nuveen Credit Strategies Income Fund COM SHS 67073D102 2026 233161 SH SOLE 233161 0 0 Nuveen Diversified Dividend and Income Fund COM 6706EP105 4 309 SH SOLE 309 0 0 Nuveen Dividend Advantage Municipal Fund COM 67066V101 137 10000 SH SOLE 10000 0 0 Nuveen Dividend Advantage Municipal Fund 3 COM SH BEN INT 67070X101 91 6352 SH SOLE 6352 0 0 Nuveen Dow 30 Dynamic Overwrite Fund SHS 67075F105 5 300 SH SOLE 300 0 0 Nuveen Flexible Investment Income Fund COM 67075B104 88 5206 SH SOLE 5206 0 0 Nuveen Global High Income Fund SHS 67075G103 325 19725 SH SOLE 19725 0 0 Nuveen Multi-Market Income Fund, Inc. COM 67075J107 497 67314 SH SOLE 67314 0 0 Nuveen Municipal Value Fund, Inc. COM 670928100 166 17000 SH SOLE 17000 0 0 Nuveen NASDAQ 100 Dynamic Overwrite Fund COM SHS 670699107 30 1453 SH SOLE 1453 0 0 Nuveen New Jersey Dividend Advantage Municipal Fund COM 67069Y102 76 5702 SH SOLE 5702 0 0 Nuveen Preferred Income Oppportunities Fund COM 67073B106 167 17030 SH OTR 1 0 17030 0 Nuveen S&P 500 Buy-Write Income Fund COM 6706ER101 446 33624 SH OTR 1 400 33224 0 Nuveen S&P 500 Dynamic Overwrite Fund COM 6706EW100 15 1040 SH SOLE 1040 0 0 Nuveen Select Tax-Free Income Portfolio 2 SH BEN INT 67063C106 273 20338 SH SOLE 20338 0 0 Nuveen Select Tax-Free Income Portfolio 3 SH BEN INT 67063X100 348 24493 SH SOLE 24493 0 0 Nuveen Tax-Advantaged Dividend Growth Fund COM 67073G105 115 7665 SH SOLE 7665 0 0 NXP Semiconductors N.V. SH BEN INT 67062F100 249 17745 SH SOLE 17745 0 0 Occidental Petroleum Corporation COM 674599105 30 470 SH SOLE 470 0 0 Oxford Lane Capital Corp. COM 691543102 33 3000 SH SOLE 3000 0 0 Pampa Energia S.A. SPON ADR LVL I 697660207 39 718 SH SOLE 718 0 0 Pfizer Inc. COM 717081103 68 1999 SH SOLE 1999 0 0 Philip Morris International, Inc. COM 718172109 39 348 SH SOLE 348 0 0 PIMCO Enhanced Short Maturity Active ETF ENHAN SHRT MA AC 72201R833 2893 28465 SH SOLE 28465 0 0 Pioneer Diversified High Income Trust COM 723653101 3 200 SH SOLE 200 0 0 Pioneer Municipal High Income Advantage Trust COM 723762100 301 27405 SH SOLE 27405 0 0 Pioneer Municipal High Income Trust COM SHS 723763108 552 47490 SH SOLE 47490 0 0 Popular, Inc. COM NEW 733174700 1222 30000 SH SOLE 30000 0 0 PriceSmart Inc. COM 741511109 92 1000 SH SOLE 1000 0 0 Prudential PLC ADR 74435K204 26 605 SH SOLE 605 0 0 Putnam High Income Securities Fund SHS BEN INT 746779107 20 2356 SH SOLE 2356 0 0 RENN Global Entrepreneurs Fund, Inc. COM 759720105 96 73851 SH SOLE 73851 0 0 Restaurant Brands International Inc. COM 76131D103 1 10 SH SOLE 10 0 0 RMR Real Estate Income Fund COM 76970B101 2032 96767 SH SOLE 96767 0 0 Royal Caribbean Cruises Ltd. COM V7780T103 4063 41413 SH SOLE 41413 0 0 Royce Global Value Trust, Inc. COM 78081T104 125 14254 SH SOLE 14254 0 0 Royce Micro-Cap Trust, Inc. COM 780915104 40 4780 SH SOLE 4780 0 0 Royce Value Trust Inc. COM 780910105 2795 199639 SH SOLE 199639 0 0 Salient Midstream & MLP Fund SH BEN INT 79471V105 750 56085 SH SOLE 56085 0 0 Sanofi SPONSORED ADR 80105N105 31 682 SH SOLE 682 0 0 SAP SE SPON ADR 803054204 29 292 SH SOLE 292 0 0 Schlumberger Limited COM 806857108 35 449 SH SOLE 449 0 0 Seaboard Corp. COM 811543107 2439 585 SH SOLE 585 0 0 Seacor Holdings, Inc. COM 811904101 138 2000 SH SOLE 2000 0 0 Sensata Technologies Holding NV SHS N7902X106 29 660 SH SOLE 660 0 0 Shire PLC SPONSORED ADR 82481R106 27 155 SH SOLE 155 0 0 Simon Property Group Inc. COM 828806109 44 253 SH SOLE 253 0 0 SK Telecom Co. Ltd. SPONSORED ADR 78440P108 26 1049 SH SOLE 1049 0 0 Sony Corporation ADR NEW 835699307 73 2166 SH SOLE 2166 0 0 Source Capital, Inc. COM 836144105 2344 62418 SH OTR 1 42722 19696 0 Spanish Broadcasting System Inc. CL A NEW 846425833 24 32272 SH SOLE 32272 0 0 Special Opportunities Fund, Inc. COM 84741T104 1038 71059 SH SOLE 71059 0 0 Special Opportunities Fund, Inc. Preferred PFD CONV SE B 84741T302 112 4397 SH SOLE 4397 0 0 Spirit Airlines, Inc. COM 848577102 1380 26000 SH SOLE 26000 0 0 Sprott Focus Trust, Inc. COM 85208J109 362 48706 SH SOLE 48706 0 0 Stonegate Bank COM 861811107 471 10000 SH SOLE 10000 0 0 Swiss Helvetia Fund Inc. COM 870875101 27 2316 SH SOLE 2316 0 0 Tahoe Resources Inc. COM 873868103 256 31900 SH SOLE 31900 0 0 Taiwan Fund, Inc. COM 874036106 471 25804 SH OTR 1 3244 22560 0 TCW Strategic Income Fund, Inc. COM 872340104 119 22000 SH SOLE 22000 0 0 Teekay LNG Partners LP PRTNRSP UNITS Y8564M105 168 9589 SH SOLE 9589 0 0 Tekla Healthcare Opportunities Fund SHS 879105104 8806 506111 SH OTR 1 358305 147806 0 Tekla Life Sciences Investors SH BEN INT 87911K100 1 67 SH SOLE 67 0 0 Tekla World Healthcare Fund BEN INT SHS 87911L108 6478 451401 SH OTR 1 344699 106702 0 Templeton Dragon Fund, Inc. COM 88018T101 435 23135 SH OTR 1 3480 19655 0 Thai Fund, Inc. COM 882904105 174 20286 SH SOLE 20286 0 0 The Boeing Company COM 097023105 125 707 SH SOLE 707 0 0 The Coca-Cola Company COM 191216100 65 1538 SH SOLE 1538 0 0 The Estee Lauder Companies Inc. CL A 518439104 28 326 SH SOLE 326 0 0 The Goldman Sachs Group, Inc. COM 38141G104 160 695 SH SOLE 695 0 0 The Herzfeld Caribbean Basin Fund, Inc. COM 42804T106 6477 914782 SH DFND 431225 483557 0 The Home Depot, Inc. COM 437076102 144 980 SH SOLE 980 0 0 The India Fund, Inc. COM 454089103 25 1000 SH SOLE 1000 0 0 The Korea Fund, Inc. COM NEW 500634209 494 13407 SH SOLE 13407 0 0 The Kraft Heinz Company COM 500754106 45 498 SH SOLE 498 0 0 The Mexico Fund, Inc. COM 592835102 219 13345 SH SOLE 13345 0 0 The Procter & Gamble Company COM 742718109 102 1134 SH SOLE 1134 0 0 The Toronto-Dominion Bank COM NEW 891160509 39 771 SH SOLE 771 0 0 The Travelers Company, Inc. COM 89417E109 84 697 SH SOLE 697 0 0 The Walt Disney Company COM DISNEY 254687106 120 1062 SH SOLE 1062 0 0 The Wendy's Company COM 95058W100 1 42 SH SOLE 42 0 0 The Western Union Company COM 959802109 285 14000 SH SOLE 14000 0 0 Tortoise Pipeline & Energy Fund COM 89148H108 3885 183956 SH OTR 1 140439 43517 0 Tortoise Power and Energy Infrastructure Fund, Inc. COM 89147X104 1281 58261 SH OTR 1 47529 10732 0 Tri-Continental Corp. COM 895436103 4268 184604 SH OTR 1 159868 24736 0 U.S. Bancorp COM NEW 902973304 43 831 SH SOLE 831 0 0 United States Oil UNITS 91232N108 11 1000 SH SOLE 1000 0 0 United Technologies Corporation COM 913017109 122 1084 SH SOLE 1084 0 0 UnitedHealth Group Incorporated COM 91324P102 153 935 SH SOLE 935 0 0 Vale S.A. ADR 91912E105 62 6492 SH SOLE 6492 0 0 Valeant Pharmaceuticals International, Inc. COM 91911K102 14 1300 SH SOLE 1300 0 0 VanEck Vectors Gold Miners ETF GOLD MINERS ETF 92189F106 68 3000 SH SOLE 3000 0 0 Vanguard Short-Term Bond ETF SHORT TRM BOND 921937827 566 7100 SH SOLE 7100 0 0 Veon Ltd. SPONSORED ADR 91822M106 23 5568 SH SOLE 5568 0 0 Verizon Communications Inc. COM 92343V104 70 1436 SH SOLE 1436 0 0 Virtus Global Dividend & Income Fund Inc. COM 92835W107 945 80512 SH SOLE 80512 0 0 Visa Inc. COM CL A 92826C839 61 691 SH SOLE 691 0 0 Vulcan Materials Company COM 929160109 602 5000 SH SOLE 5000 0 0 Wal-Mart Stores Inc. COM 931142103 92 1271 SH SOLE 1271 0 0 Watsco Inc. COM 942622200 1518 10600 SH SOLE 10600 0 0 Wells Fargo Advantage Multi-Sector Income Fund COM 94987D101 3 234 SH SOLE 234 0 0 Western Asset/Claymore Inflation-Linked Opportunities & Income Fund COM 95766R104 343 30700 SH OTR 1 5000 25700 0 Western Asset/Claymore Inflation-Linked Securities & Income Fund COM SH BEN INT 95766Q106 297 25799 SH OTR 1 5317 20482 0 Zweig Fund, Inc. COM NEW 989834205 803 72249 SH SOLE 72249 0 0