# EDGAR Filing Document

**Accession Number:** 0000880406
**File Stem:** 0000910472-25-005283
**Filing Date:** 2025-12
**Character Count:** 15005
**Document Hash:** 8ec996b846d04ac3ae76f5899768e4a3
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000910472-25-005283.hdr.sgml**: 20251201

**ACCESSION NUMBER**: 0000910472-25-005283

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20250930

**FILED AS OF DATE**: 20251201

**DATE AS OF CHANGE**: 20251201

**PERIOD START**: 20260630

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Herzfeld Credit Income Fund, Inc
- **CENTRAL INDEX KEY:** 0000880406

**ORGANIZATION NAME:**
- **EIN:** 650396889
- **STATE OF INCORPORATION:** MD
- **FISCAL YEAR END:** 0630

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-06445
- **FILM NUMBER:** 251537553

**BUSINESS ADDRESS:**
- **STREET 1:** 119 WASHINGTON AVENUE, SUITE 504
- **CITY:** MIAMI BEACH
- **STATE:** FL
- **ZIP:** 33139
- **BUSINESS PHONE:** 305-777-1660

**MAIL ADDRESS:**
- **STREET 1:** 119 WASHINGTON AVENUE, SUITE 504
- **CITY:** MIAMI BEACH
- **STATE:** FL
- **ZIP:** 33139

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** HERZFELD CARIBBEAN BASIN FUND INC
- **DATE OF NAME CHANGE:** 19930622

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** FIRST CUBA FUND INC
- **DATE OF NAME CHANGE:** 19920929

## Nport-Ex

---

| | | |
|:---|:---|:---|
| **Herzfeld Credit Income Fund, Inc.** |  |  |
| **Schedule of Investments as of September 30, 2025 (Unaudited)** | **Schedule of Investments as of September 30, 2025 (Unaudited)** |  |
| Shares or Principal Amount | Description | Fair Value |
| **Common Stocks –** | 7.04% of net assets |  |
| **Banking and Finance – 4.53%** |  |  |
| 170000 | Evermore Bank\*<sup>1</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2040000 |
| **Communications – 0.08%** |  |  |
| 327559 | Fuego Enterprises, Inc.\*<sup>1</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;327 |
| 207033 | Grupo Radio Centro S.A.B. de C.V.\*<sup>1</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;36169 |
| **Construction and Related – 0.00%** |  |  |
| 20 | Ceramica Carabobo Class A ADR\*<sup>1</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;- |
| **Investment Companies – 0.05%** |  |  |
| 70000 | Waterloo Investment Holdings Ltd.\*<sup>1</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24500 |
| **Utilities – 1.33%** |  |  |
| 44320 | Caribbean Utilies Ltd. Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;599650 |
| 700 | Cuban Electric Company\*<sup>1</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;- |
| **Other – 1.05%** |  |  |
| 55421 | Margo Caribe, Inc.\* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;471079 |
| 79 | Siderurgica Venezolana Sivensa, S.A. Series B\*<sup>1</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;- |
| **Total common stocks** | (cost $3,037,511) | **3171725** |
| **Closed-End Funds – 0.43% of net assets** |  |  |
| 33684 | Carlyle Credit Income Fund | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;196041 |
| **Total closed-end funds** | (cost $186,579) | **196041** |
| **Bonds – 0.00% of net assets** | Republic of Cuba - 4.5%, 1977 - in default\*<sup>1</sup> |  |
| 165000 |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;- |
| **Total bonds** | (cost $63,038) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;- |
| **Money Market Funds – 92.54%** | of net assets |  |
| 41711327 | Federated Hermes Government Obligations Fund, |  |
|  | Institutional Class, 4.01%<sup>2</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;41711327 |
| **Total money market funds** | (cost $41,711,327) | **41711327** |
| **Total investments** | (cost $44,998,455) – 100.01**%** of net assets | **$45079093** |
| **Liabilities in excess of other assets** | (0.01)% of net assets | **(5823)** |
| **Net assets -** | 100% | **$45073270** |
| <sup>1</sup> Securities have been fair valued in good faith, by the Advisor as "valuation designee", using fair value | <sup>1</sup> Securities have been fair valued in good faith, by the Advisor as "valuation designee", using fair value | <sup>1</sup> Securities have been fair valued in good faith, by the Advisor as "valuation designee", using fair value |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;methodology approved by the Board of Directors. Fair valued securities comprised 4.66% of net assets. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;methodology approved by the Board of Directors. Fair valued securities comprised 4.66% of net assets. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;methodology approved by the Board of Directors. Fair valued securities comprised 4.66% of net assets. |
| <sup>2</sup> Rate disclosed is the seven day effective yield as of September 30, 2025. | <sup>2</sup> Rate disclosed is the seven day effective yield as of September 30, 2025. | <sup>2</sup> Rate disclosed is the seven day effective yield as of September 30, 2025. |
| \* Non-income producing | \* Non-income producing | \* Non-income producing |

---

## Form NPORT-P: Monthly Portfolio Investments Report

### NPORT-P: Part A: General Information

**Item A.1. Information about the Registrant.**

- **a. Name of Registrant:** Herzfeld Credit Income Fund, Inc.

- **b. Investment Company Act file number:** 811-06445

- **c. CIK number of Registrant:** 0000880406

- **d. LEI of Registrant:** 549300ML0K6PRXPULR11

- **e. Address and telephone number of Registrant.**

  - **Street Address 1:** 119 WASHINGTON AVENUE

  - **City:** MIAMI BEACH

  - **State:** FL

  - **Foreign country:** US

  - **Zip / Postal Code:** 33139

  - **Telephone number:** 305-777-1660

**Item A.2. Information about the Series.**

- **a. Name of Series:** Herzfeld Credit Income Fund, Inc.

- **c. LEI of Series:** 549300ML0K6PRXPULR11

**Item A.3. Reporting period.**

- **a. Date of fiscal year-end:** 2026-06-30

- **b. Date as of which information is reported:** 2025-09-30

**Item A.4. Final filing**

Does the Fund anticipate that this will be its final filing on Form N-PORT? **No**

### Fund Information

**Total Assets:** $45330302.06

**Total Liabilities:** $257032.30

**Net Assets:** $45073269.76

**Monthly Return Information**

| Class        | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID N/A | -1.13%               | 1.53%                | 0.38%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $2506280.12              | $-2916444.10                               |
| Month 2  | $-307.68                 | $489289.83                                 |
| Month 3  | $197303.79               | $-200448.92                                |

### Schedule of Portfolio Investments

| Name                                 | Title                                                     | Identifiers                                   | Payoff Profile   | Asset Category   | Issuer Category   | Country   |   Balance | Units   | Value (USD)   | % of Net Assets   | Maturity Date   | Coupon Type   | Annualized Rate (%)   | Restricted?   |   Fair Value Level | Lending Status   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| Cuban Electric Co                    | Cuban Electric Company                                    | CUSIP: 229615109<br>LEI: N/A                  | Long             | EC               | CORP              | US        |       700 | NS      | $0.00         | 0.00%             |  |  |  | No            |                  3 | On Loan: No      |
| N/A                                  | Republic of Cuba 4.5%, due 1977                           | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |    165000 | PA      | $0.00         | 0.00%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Sider Venezolana                     | Siderurgica Venezolana                                    | CUSIP: 825865702<br>LEI: N/A                  | Long             | EC               | CORP              | US        |        79 | NS      | $0.00         | 0.00%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Margo Caribe Inc                     | Margo Caribe Inc.                                         | CUSIP: 566605101<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     55421 | NS      | $471078.50    | 1.05%             |  |  |  | No            |                  1 | On Loan: No      |
| Grupo Radio Centro S A B DE C V      | Grupo Radio Centro. S.A.B. de C.V.                        | CUSIP: P4983X160<br>LEI: N/A                  | Long             | EC               | CORP              | MX        |    207033 | NS      | $36169.29     | 0.08%             |  |  |  | No            |                  3 | On Loan: No      |
| Ceramica Carabobo, S.A.C.A.          | Ceramica Carabobo SACA ADR                                | CUSIP: 15671P704<br>LEI: N/A                  | Long             | EC               | CORP              | US        |        20 | NS      | $0.00         | 0.00%             |  |  |  | No            |                  3 | On Loan: No      |
| N/A                                  | EVERMORE SECONDARY OFFER 06/24/2024                       | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |    170000 | NS      | $2040000.00   | 4.53%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Fuego Enterprises Inc.               | Fuego Enterprises Inc                                     | CUSIP: 35953E201<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    327559 | NS      | $327.56       | 0.00%             |  |  |  | No            |                  3 | On Loan: No      |
| Caribbean Utilities Co Ltd.          | Caribbean Utilities Limited Class A                       | CUSIP: G1899E146<br>LEI: 549300JWGMJO03H0G857 | Long             | EC               | CORP              | US        |     44320 | NS      | $599649.60    | 1.33%             |  |  |  | No            |                  1 | On Loan: No      |
| Money Market Obligations Trust       | Federated Government Obligations Fund Institutional Class | CUSIP: 60934N104<br>LEI: 25490005VWJDWX717014 | Long             | STIV             | RF                | US        |  41711327 | PA      | $41711327.30  | 92.54%            |  |  |  | No            |                  1 | On Loan: No      |
| Waterloo Investment Holdings Limited | Waterloo Investment Holdings Limited                      | CUSIP: G94634105<br>LEI: 213800TZIK14GMV2YL02 | Long             | EC               | CORP              | US        |     70000 | NS      | $24500.00     | 0.05%             |  |  |  | No            |                  3 | On Loan: No      |
| Carlyle Credit Income Fund           | Carlyle Credit Income Fund USD Class                      | CUSIP: 92535C104<br>LEI: 549300LVMWHJGZNVXZ22 | Long             | EC               | RF                | US        |     33684 | NS      | $196040.88    | 0.43%             |  |  |  | No            |                  1 | On Loan: No      |

### Signature

**Date Signed:** 2025-11-28

**Name of Applicant:** Susan McLauchlan

**Signature:** Susan McLauchlan

**Name of Signer:** Susan McLauchlan

**Title:** VP Fund Accounting