Herzfeld Credit Income Fund reports 43.35% group stake

The reported position separates 201,046 shares under sole voting and dispositive power from 673,599 shares under shared power.

Rhea-AI Filing Summary

Herzfeld Credit Income Fund, Inc. reported that Thomas J. Herzfeld, et al. beneficially owned 874,645 common shares, or 43.35% of the fund’s common stock. The issuer reported 2,017,725 shares outstanding as of August 31, 2026. The reported position includes 201,046 shares with sole voting and dispositive power and 673,599 shares with shared voting and dispositive power.

Advisory clients reported open-market purchases and sales, with transactions listed through September 29, 2026. On September 28, they sold 9,383 shares at $15.4041 and bought 126 shares at $15.27; on September 29, they sold 2,425 shares at $15.4719. The statement also reports shares received through the dividend reinvestment program by advisory clients and Mr. Herzfeld on July 31 and August 31.

Filing Explained

The filing says advisory-account owners may receive dividends or sale proceeds from shares in their accounts; no individual account owner holds more than 5% of the fund.

Key Figures

Beneficially owned shares: 874,645 shares Percentage of class: 43.35% Shares outstanding: 2,017,725 shares +4 more

7 metrics

Beneficially owned shares 874,645 shares Thomas J. Herzfeld, et al.

Percentage of class 43.35% Of the issuer’s common stock

Shares outstanding 2,017,725 shares As of August 31, 2026

Sole voting and dispositive power 201,046 shares Reported position

Shared voting and dispositive power 673,599 shares Reported position

Shares sold 2,425 shares Advisory clients, September 29, 2026

Sale price $15.4719 per share Advisory clients, September 29, 2026

Key Terms

beneficially owns, shared voting power, dispositive power, dividend reinvestment program

4 terms

beneficially owns financial

"Reporting Person beneficially owns with sole power to vote and dispose"

Beneficially owns means a person or entity enjoys the economic benefits and control of a security even if the legal title or registration is held in another name. Think of it like having the keys and profits from a car that is registered to a friend: you use it, benefit from it, and make decisions about it even though the official paperwork lists someone else. For investors, this matters because it reveals who truly controls shares, affects voting power, potential conflicts of interest, and regulatory disclosure obligations.

shared voting power financial

"Shared Voting Power 673,599.00"

Shared voting power occurs when two or more parties jointly have the right to vote or decide how a block of company shares is cast, like co-owners who must agree before moving a piece of furniture. Investors care because who controls voting rights affects board elections, major corporate decisions and takeover outcomes, and shared control can alter regulatory disclosures and the practical influence any holder has over a company’s direction and value.

dispositive power financial

"Shared Dispositive Power 673,599.00"

Dispositive power is the authority to decide the final outcome of an asset, legal claim, contract, or corporate action — in effect the power to dispose of or resolve something. For investors it matters because whoever holds that authority can determine who gets paid, who controls an asset or vote, and how risks and returns are allocated; think of it like holding the key that lets you lock in the winner or loser in a deal.

dividend reinvestment program financial

"through the dividend reinvestment program received 2,773.4016 shares"

A dividend reinvestment program lets investors automatically use cash dividends to buy more shares of the same company instead of taking the money as cash. Think of it like an automatic savings plan that turns small payouts into additional ownership, often including fractional shares, which can speed up compound growth and reduce the need for manual buying decisions — a convenience that can boost long-term returns for shareholders.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

How many HERZ shares did Thomas J. Herzfeld, et al. report owning?

They reported beneficial ownership of 874,645 common shares, or 43.35% of Herzfeld Credit Income Fund, Inc. The issuer reported 2,017,725 shares outstanding as of August 31, 2026.

What HERZ trades were reported on September 28 and 29, 2026?

Advisory clients sold 9,383 shares at $15.4041 and bought 126 shares at $15.27 on September 28, 2026. On September 29, they sold 2,425 shares at $15.4719.

Do any individual HERZ advisory account owners hold more than 5%?

No. The statement says no owner of an advisory account holds more than 5% of the issuer’s common shares. Each account owner has the right to receive and direct the receipt of dividends or proceeds from sales of the account’s shares.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Available on EDGAR 09/30/2026 - 04:15 PM Accepted by SEC EDGAR 09/30/2026 - 04:15 PM Learn about SEC filing dates

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13D

Under the Securities Exchange Act of 1934

(Amendment No. 37)

Herzfeld Credit Income Fund, Inc.

(Name of Issuer)

Common Stock

(Title of Class of Securities)

42804T205

(CUSIP Number)

Thomas K. Morgan
119 Washington Ave., Suite 405
Miami Beach, FL, 33139
(305) 777-1660

(Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications)

09/28/2026

(Date of Event Which Requires Filing of This Statement)

If the filing person has previously filed a statement on Schedule 13G to report the acquisition that is the subject of this Schedule 13D, and is filing this schedule because of §§ 240.13d-1(e), 240.13d-1(f) or 240.13d-1(g), check the following box.

The information required on the remainder of this cover page shall not be deemed to be "filed" for the purpose of Section 18 of the Securities Exchange Act of 1934 ("Act") or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes).

schemaVersion:

SCHEDULE 13D

CUSIP Number(s): 42804T205

1

Name of reporting person

Thomas J. Herzfeld, et al.

2

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

3

SEC use only

4

Source of funds (See Instructions)

PF, OO

5

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

6

Citizenship or place of organization

UNITED STATES

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 201,046.00
8	Shared Voting Power 673,599.00
9	Sole Dispositive Power 201,046.00
10	Shared Dispositive Power 673,599.00

11

Aggregate amount beneficially owned by each reporting person

874,645.00

12

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

13

Percent of class represented by amount in Row (11)

43.35 %

14

Type of Reporting Person (See Instructions)

IN, IA

SCHEDULE 13D

Item 1.	Security and Issuer
(a)	Title of Class of Securities: Common Stock
(b)	Name of Issuer: Herzfeld Credit Income Fund, Inc.
(c)	Address of Issuer's Principal Executive Offices: 119 Washington Ave., Suite 405, Miami Beach, FLORIDA , 33139.
Item 3.	Source and Amount of Funds or Other Consideration
	On July 31, 2026, the Advisory clients through the dividend reinvestment program received 2,773.4016 shares, and Mr. T. Herzfeld received 991.6781 shares, at $15.333. On August 31, 2026, the Advisory clients through the dividend reinvestment program received 2,834.8335 shares, and Mr. T. Herzfeld received 1,013.0256 shares, at $15.1763.
Item 5.	Interest in Securities of the Issuer
(a)	The aggregate number of shares of common stock to which this Schedule 13D relates is 874,645 shares representing 43.35% of the 2,017,725 shares outstanding as reported by the issuer as of August 31, 2026.
(b)	With respect to the shares of common stock owned individually, the Reporting Person beneficially owns with sole power to vote and dispose of 201,046 shares of common stock. With respect to the Accounts, the Reporting Person beneficially owns with shared power to vote and/or dispose of 673,599 shares of common stock.
(c)	On July 27, 2026, through open market transactions, the Advisory clients bought 560 shares at $16.2184. On July 28, 2026, through open market transactions, the Advisory clients sold 828 shares at $16.0319. On July 29, 2026, through open market transactions, the Advisory clients sold 21 shares at $15.88 and bought 990 shares at $15.6395. On July 30, 2026, through open market transactions, the Advisory clients sold 5 shares at $16.00. On July 31, 2026, the Advisory clients through the dividend reinvestment program received 2,773.4016 shares, and Mr. T. Herzfeld received 991.6781 shares, at $15.333. On August 4, 2026, through open market transactions, the Advisory clients sold 50 shares at $16.155. On August 5, 2026, through open market transactions, the Advisory clients sold 273 shares at $16.08 and bought 392 shares at $16.0796. On August 6, 2026, through open market transactions, the Advisory clients sold 2,242 shares at $16.30 and bought 126 shares at $15.84. On August 10, 2026, through open market transactions, the Advisory clients bought 1 share at $16.00. On August 11, 2026, through open market transactions, the Advisory clients sold 852 shares at $16.3052. On August 14, 2026, through open market transactions, the Advisory clients bought 161 shares at $16.2691. On August 18, 2026, through open market transactions, the Advisory clients sold 2,008 shares at $15.9979 and bought 499 shares at $16.10. On August 19, 2026, through open market transactions, the Advisory clients bought 772 shares at $15.9991. On August 20, 2026, through open market transactions, the Advisory clients bought 148 shares at $15.89. On August 21, 2026, through open market transactions, the Advisory clients bought 1,137 shares at $16.00. On August 24, 2026, through open market transactions, the Advisory clients bought 316 shares at $15.98. On August 25, 2026, through open market transactions, the Advisory clients bought 663 shares at $16.0421. On August 27, 2026, through open market transactions, the Advisory clients bought 398 shares at $15.99. On August 27, 2026, through open market transactions, the Advisory clients sold 788 shares at $16.21. On August 31, 2026, the Advisory clients through the dividend reinvestment program received 2,834.8335 shares, and Mr. T. Herzfeld received 1,013.0256 shares, at $15.1763. On September 3, 2026, through open market transactions, the Advisory clients bought 136 shares at $15.94. On September 4, 2026, through open market transactions, the Advisory clients sold 115 shares at $16.47. On September 8, 2026, through open market transactions, the Advisory clients sold 2,813 shares at $16.4985 and bought 2,519 shares at $16.2495. On September 11, 2026, through open market transactions, the Advisory clients sold 118 shares at $16.31 and bought 18 shares at $16.13. On September 14, 2026, through open market transactions, the Advisory clients sold 1,036 shares at $16.2427. On September 15, 2026, through open market transactions, the Advisory clients sold 128 shares at $16.27. On September 16, 2026, through open market transactions, the Advisory clients sold 1,835 shares at $15.7545 and bought 3 shares at $15.75. On September 17, 2026, through open market transactions, the Advisory clients sold 4,488 shares at $15.8091. On September 18, 2026, through open market transactions, the Advisory clients sold 2,947 shares at $15.7225. On September 21, 2026, through open market transactions, the Advisory clients sold 6,305 shares at $15.7502. On September 22, 2026, through open market transactions, the Advisory clients sold 5,802 shares at $15.7911. On September 23, 2026, through open market transactions, the Advisory clients sold 3,834 shares at $15.7739. On September 24, 2026, through open market transactions, the Advisory clients sold 2,600 shares at $15.7358. On September 25, 2026, through open market transactions, the Advisory clients sold 1,153 shares at $15.73. On September 28, 2026, through open market transactions, the Advisory clients sold 9,383 shares at $15.4041 and bought 126 shares at $15.27. On September 29 2026, through open market transactions, the Advisory clients sold 2,425 shares at $15.4719.
(d)	The owner of each of the Accounts individually has the right to receive and the power to direct the receipt of dividends from, or proceeds from the sale of, the shares of common stock. To date no owner of an Account holds more than 5% of the Issuer's common shares.

SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

Thomas J. Herzfeld, et al.

Signature:	/s/ Thomas J. Herzfeld
Name/Title:	Thomas J. Herzfeld, Chairman
Date:	09/30/2026