Welcome to our dedicated page for Herzfeld Credit Income Fund SEC filings (Ticker: HERZ), a comprehensive resource for investors and traders seeking official regulatory documents including 10-K annual reports, 10-Q quarterly earnings, 8-K material events, and insider trading forms.
Herzfeld Credit Income Fund, Inc. filings document shareholder governance for a closed-end fund, including proxy materials for its annual meeting of stockholders. The Fund’s definitive proxy statement covers director elections, board-class matters, meeting procedures, and voting items submitted to common stockholders. These disclosures sit alongside the Fund’s public-company context as a Nasdaq-listed closed-end management investment company.
Herzfeld Credit Income Fund, Inc. (HERZ) announced its intention to commence a self-tender offer by October 31, 2026 for up to 5% of its outstanding Common Stock, open only to current stockholders. Detailed terms will be provided in a forthcoming Schedule TO filing with the SEC.
Herzfeld Credit Income Fund, Inc. (HERZ) reported net assets of $39.2 million and a net asset value (NAV) of $19.51 per share as of June 30, 2026, with a market price of $17.20, reflecting an 11.84% discount to NAV.
For the fiscal year, total return was -0.20% on NAV and -8.34% on market price, while the portfolio shift into structured credit limited losses versus the Flat Rock CLO Equity Returns Index at -21.45% from June 2025–March 2026. The fund generated $3.24 million in investment income and $1.43 million in net investment income, but recorded a $278,715 net decrease in net assets from operations after unrealized losses. Distributions totaled $12.1 million, including $11.24 million of long-term capital gains and $807,859 of ordinary income, supported by realized gains and prior appreciation.
The fund completed a strategic shift effective July 1, 2025, to focus on credit-related instruments, especially CLO and CFO equity and debt, fixed-income closed-end funds, and interval funds; key allocations at year-end included 36.05% of NAV in fixed income CEFs, 15.12% in CLO CEFs, and 9.44% in CFO equity, with portfolio turnover at 96%. A 1-for-10 reverse share split on February 6, 2026, increased per-share NAV without changing total net assets, and the fund continues to carry significant Level 3 positions such as Evermore Bank and Dawson Partners structures under board-approved fair value policies.
Herzfeld Credit Income Fund, Inc. filed a supplemented and restated prospectus covering the primary offering of up to $109,000,000 of common stock and subscription rights. Securities may be sold in multiple transactions, including through underwriters, dealers, agents or "at-the-market" offerings, with specific terms set in future supplements.
The Fund is a non-diversified, closed-end NASDAQ-listed fund ("HERZ") focused on a CLO equity and junior debt strategy, with at least 80% of net assets and investment borrowings in credit-related instruments. As of April 30, 2026, NAV per share was $19.91, net assets were about $39.9 million, and 2,002,996 shares were outstanding, while the market price traded at a discount.
Total estimated annual expenses are 5.82% of net assets, including a 1.25% management fee on Managed Assets and 2.81% acquired fund fees. The Fund may use leverage up to 1940 Act limits and invests primarily in below-investment-grade CLO tranches and related credit instruments, subject to extensive risk factors including leverage, credit, CLO structure, liquidity, and market risks.
Herzfeld Credit Income Fund, Inc. received an amended Schedule 13D showing that Thomas J. Herzfeld and related advisory accounts beneficially own 898,801 shares of common stock, or 44.87% of the 2,002,996 shares outstanding as of February 23, 2025.
Herzfeld holds 197,248 shares with sole voting and dispositive power, and has shared voting and/or dispositive power over 701,553 shares held in advisory client accounts. The filing details numerous open market purchases and smaller sales between March 5 and April 16, 2026, reflecting active trading that maintains a large, controlling-level stake. No individual advisory account currently holds more than 5% of the issuer’s common shares.
Erik M. Herzfeld reports beneficial ownership of 772,965 shares of Herzfeld Credit Income Fund, Inc., representing 37.57% of the 2,002,996 common shares outstanding as of February 23, 2025. This includes 71,412 shares over which he has sole voting and dispositive power and 701,553 shares held in advisory client accounts where he shares voting and/or dispositive power.
During March and April 2026, advisory clients executed multiple open-market trades, with net purchases including 13,573 shares at $16.527 on April 16, 2026 and several smaller buys around $15.50–$15.99 per share. No individual client account currently holds more than 5% of the issuer’s common shares.
Herzfeld Credit Income Fund, Inc. insider Thomas J. Herzfeld, described as Chairman of the Advisor, reported an open-market purchase of 3610 shares of common stock at $16.0141 per share. After this transaction, he directly holds 197248 shares, indicating a routine increase in his personal stake.
Herzfeld Credit Income Fund, Inc. portfolio manager Ryan M. Paylor reported two open-market purchases of the company’s common stock. On April 15, 2026, he bought 390 shares at $16.0141 per share, and on March 27, 2026, he bought 96 shares at $15.50 per share.
After these transactions, Paylor directly owned 6,567 shares of common stock, indicating relatively small, incremental buying activity rather than a large position change.
Herzfeld Credit Income Fund advisor chairman Thomas J. Herzfeld bought additional shares of the fund. On this Form 4, he reported an open-market purchase of 2,974 shares of common stock at $15.50 per share. After the transaction, he directly owned 193,638 common shares.
Erik M. Herzfeld reports updated ownership in Herzfeld Credit Income Fund, Inc., disclosing beneficial ownership of 752,442 common shares. This represents 37.57% of the 2,002,996 shares outstanding as of February 23, 2025.
He has sole voting and dispositive power over 71,411 shares and shared power over 681,031 shares held in advisory accounts. The filing details recent open-market activity in March 2026, with advisory clients primarily buying shares in multiple transactions at prices around the mid‑$15 range, alongside small sales.
Thomas J. Herzfeld and related accounts report a significant stake in Herzfeld Credit Income Fund, Inc. They disclose beneficial ownership of 866,736 common shares, equal to 43.27% of the 2,002,996 shares outstanding as of February 23, 2025.
Herzfeld holds 190,664 shares with sole voting and dispositive power, and 676,072 shares are held with shared voting and/or dispositive power through advisory accounts. Recent open-market activity includes advisory clients buying 16,953 shares and Herzfeld personally buying 5,036 shares on March 2–3, 2026 at prices around $15.32–$15.81 per share.