In 1979, our founder, Thomas J. Herzfeld, wrote the first of 7 textbooks on the subject of closed-end fund investing.  As a result, he has since then been widely regarded as “The Father of Closed End Fund Investing” and the asset management firm he launched, Thomas J. Herzfeld Advisors, Inc. (“Herzfeld Advisors”), remains a leading authority on CEFs to this day.  In honor of Mr. Herzfeld’s celebration of 50 years in the industry, we are launching a series of papers that look back at his original investment ideas and demonstrate how we continue to use those investment themes for the benefit of our clients to this day.  We hope you enjoy this series.  Of course, we are always happy to provide additional information on our services.

Contact us at info@herzfeld.com for more information.

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Last month our Portfolio Manager, Ryan Paylor, spoke on the Money Life podcast (Chuck Jaffe, “Seafarer’s Foster: We’re still in ‘the bottom of the first’ on tariff impacts”, Money Life, Nov. 20, 2025) as part of the Active Investment Company Alliance Round Table in New York City. Ryan discussed our Herzfeld Credit Income Fund, Inc. (NASDAQ: HERZ) which recently transitioned from a strategy focused on investment in the Caribbean Basin under its former ticker symbol CUBA into a strategy centered on investment in collateralized loan obligations (CLOs). He walked through the rationale behind the unique strategy shift and offered insight into how shareholders have responded to the fund’s evolution.

Morningstar Ratings™ are out for Q4/2025: Thomas J. Herzfeld Advisors, Inc received 5-Star Overall Morningstar Rating™ for four investment strategies.