Insider filing report for Changes in Beneficial Ownership
- Schedule 13G & 13D forms are used to report a party's ownership of stock which exceeds 5% of a company's total stock issue.
- Schedule 13G is a shorter version of Schedule 13D with fewer reporting requirements.
"Insiders might sell their shares for any number of reasons, but they buy them for only one: they think the price will rise"
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- Peter Lynch
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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549 |
SCHEDULE 13D
Under the Securities Exchange Act of 1934
(Amendment No. 25)*
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Herzfeld Credit Income Fund, Inc. (Name of Issuer) |
Common Stock (Title of Class of Securities) |
42804T106 (CUSIP Number) |
Thomas K. Morgan 119 Washington Ave., Suite 504 Miami Beach, FL, 33139 (305) 777-1660 (Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications) |
01/07/2026 (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).
SCHEDULE 13D
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| CUSIP No. | 42804T106 |
| 1 |
Name of reporting person
Erik M. Herzfeld, et al. | ||||||||
| 2 | Check the appropriate box if a member of a Group (See Instructions)
(a)
(b)
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| 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)
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| 6 | Citizenship or place of organization
UNITED STATES
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| Number of Shares Beneficially Owned by Each Reporting Person With: |
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| 11 | Aggregate amount beneficially owned by each reporting person
7,394,580.00 | ||||||||
| 12 | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)
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| 13 | Percent of class represented by amount in Row (11)
37.95 % | ||||||||
| 14 | Type of Reporting Person (See Instructions)
IN, IA |
SCHEDULE 13D
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| 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 504, Miami Beach,
FLORIDA
, 33139. |
| Item 5. | Interest in Securities of the Issuer |
| (a) | The aggregate number of shares of common stock to which this Schedule 13D relates is 7,394,580 shares representing 37.85% of the 19,483,671 shares outstanding as reported by the issuer as of December 30, 2025. (1) 1. The amount reported represents the estimate number of shares to be received by the reporting person and Advisory clients in connection with the cash or stock distribution announced on December 30, 2025. The exact distribution of cash and stock to the reporting person is dependent upon their election as well as elections of other stockholders, subject to the pro-rata limitation. If necessary, an amended Form 4 will be filed to report the number of shares actually received by the reporting person in connection with the cash or stock distribution once the final allocations are determined. |
| (b) |
With respect to the shares of common stock owned individually, the Reporting Person beneficially owns with sole power to vote and dispose of 714,113 shares of common stock. With respect to the Accounts, the Reporting Person beneficially owns with shared power to vote and/or dispose of 6,680,467 shares of common stock. |
| (c) | On December 24, 2025 through open market transactions, the Advisory clients sold 8,308 shares at $2.60. On December 30, 2025 through open market transactions, the Advisory clients sold 42,346 shares at $2.7619. On January 2, 2026 through open market transactions, the Advisory clients sold 11,237 shares at $2.2117. On January 5, 2026 through open market transactions, the Advisory clients sold 38,866 shares at $2.0806. On January 7, 2026 through open market transactions, the Advisory clients sold 22,617 shares at $1.9612. On December 30, 2025, the Fund paid a distribution, in cash and shares of common stock, of $0.6867 per share owned by each stockholder as of the payment date of December 30, 2025 (the "December 2025 Distribution"). The December 2025 Distribution was paid in cash or shares of the Fund's common stock at the election of stockholders with the total amount of cash distributed to all stockholders limited to 20% of the total distribution to be paid, excluding any cash paid for fractional shares. The remainder of the December 2025 Distribution (approx. 80%) was paid in the form of shares of the Fund's common stock. The exact distribution of cash and stock to any given stockholder was dependent upon their election as well as elections of other stockholders, subject to the pro-rata limitation. The price per share used to calculate the number of shares to be issued in lieu of cash was $2.5799, which was determined using the volume weighted average price per share of the Fund on December 12, 15 and 16, 2025. Mr. E. Herzfeld received 120,584 shares of common stock of the Fund in connection with the December 2025 Distribution. The Advisory clients received 1,140,165 shares of common stock of the Fund in connection with the December 2025 Distribution. |
| (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. |
| (e) | Not applicable. |
| 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.
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