Closed-End Fund Advisors, Inc.

13F filer, CIK 2103520, RICHMOND, VA

Closed-End Fund Advisors, Inc. reported $169,310,031 across 185 holdings for the quarter ended 2025-12-31, in a 13F-HR filed 2026-02-11. Its ten largest share positions make up 30.55% of the portfolio.

Filed 2026-02-11 (acceptance time not in the bulk data set), ingested 2026-10-07 03:01:36 UTC13F-HR 0001214659-26-001467

Period: 2025-12-31
Reported value: $169M
Holdings: 185
Top 10 weight: 30.55%
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Holdings, Q4 2025

Share positions as resolved from 13F-HR 0001214659-26-001467, largest first. % of portfolio is the value over $169,310,031, the sum of the share positions whose value is usable for ratios (method).

Security	Shares	Value	% of portfolio	Timeline
NCDLNUVEEN CHURCHILL DIRECT LEND	552,804	$7.37M	4.36%	Timeline
BCSFBAIN CAP SPECIALTY FIN INC	422,810	$5.88M	3.47%	Timeline
GBDCGOLUB CAP BDC INC	417,665	$5.67M	3.35%	Timeline
TRINTRINITY CAP INC	374,924	$5.49M	3.24%	Timeline
NMFCNEW MTN FIN CORP	586,070	$5.4M	3.19%	Timeline
MSDLMORGAN STANLEY DIRECT LENDIN	291,456	$4.8M	2.84%	Timeline
OBDCBLUE OWL CAPITAL CORPORATION	370,782	$4.61M	2.72%	Timeline
CIONCION INVT CORP	475,908	$4.6M	2.72%	Timeline
SLRCSLR INVESTMENT CORP	260,893	$4.03M	2.38%	Timeline
GSBDGOLDMAN SACHS BDC INC	415,746	$3.86M	2.28%	Timeline
SARSARATOGA INVT CORP	159,499	$3.68M	2.17%	Timeline
ARCCARES CAPITAL CORP	170,922	$3.46M	2.04%	Timeline
CGBDCARLYLE SECURED LENDING INC	255,435	$3.19M	1.88%	Timeline
CCAPCRESCENT CAP BDC INC	225,312	$3.17M	1.87%	Timeline
KYNKAYNE ANDERSON ENERGY INFRST	250,916	$3.11M	1.83%	Timeline
TYGTORTOISE ENERGY INFRSTRCTR C	73,348	$3M	1.77%	Timeline
PSBDPALMER SQUARE CAPITAL BDC IN	220,334	$2.69M	1.59%	Timeline
CSWCCAPITAL SOUTHWEST CORP	113,731	$2.52M	1.49%	Timeline
BXSLBLACKSTONE SECD LENDING FD	89,689	$2.36M	1.39%	Timeline
MFICMIDCAP FINANCIAL INVSTMNT CO	183,892	$2.1M	1.24%	Timeline
EODALLSPRING GLOBAL DIVIDEND OP	358,410	$2.09M	1.23%	Timeline
CPZCALAMOS LNG SHR EQT DYNAMIC	141,572	$2.07M	1.22%	Timeline
SDHYPGIM SHORT DUR HIG YLD OPP F	113,402	$1.87M	1.1%	Timeline
BPREBLUEROCK PVT REAL ESTATE FD	122,645	$1.84M	1.09%	Timeline
DMADESTRA MULTI-ALTERNATIVE FD	200,829	$1.8M	1.06%	Timeline
BBDCBARINGS BDC INC	193,447	$1.78M	1.05%	Timeline
FSCOFS CREDIT OPPORTUNITIES CORP	274,422	$1.73M	1.02%	Timeline
GUGGUGGENHEIM ACTIVE ALLOC FD	110,396	$1.69M	1%	Timeline
FINSANGEL OAK FINL STRATEGIES IN	121,264	$1.6M	0.95%	Timeline
RFMZRIVERNORTH FLEXIBLE MUNI INC	122,653	$1.55M	0.92%	Timeline
SABASABA CAPITAL INCOME & OPPORT	186,283	$1.54M	0.91%	Timeline
BANXARROWMARK FINANCIAL CORP	69,337	$1.51M	0.89%	Timeline
NPFDNUVEEN VRIABL RAT PFD & INM	78,578	$1.5M	0.88%	Timeline
RABROOKFIELD REAL ASSETS INCOM	112,905	$1.46M	0.86%	Timeline
VFLABRDN NATL MUN INCOME FD	140,906	$1.45M	0.85%	Timeline
MFMABERDEEN MUN INCOME FD	265,652	$1.44M	0.85%	Timeline
HFROHIGHLAND OPPS & INCOME FD	235,136	$1.41M	0.83%	Timeline
RWAYRUNWAY GROWTH FINANCE CORP	141,041	$1.26M	0.74%	Timeline
WIWWESTERN AST INFL LKD OPP & I	138,451	$1.19M	0.7%	Timeline
XFLTXAI OCTAGON FLOATING RATE & AL	232,964	$1.12M	0.66%	Timeline
MEGINYLIM CBRE GLOBAL	80,944	$1.11M	0.66%	Timeline
KBDCKAYNE ANDERSON BDC INC	73,202	$1.05M	0.62%	Timeline
EMOCLEARBRIDGE ENERGY MIDSTREAM	23,302	$1.04M	0.61%	Timeline
ASGIABRDN GLOBAL INFRA INCOME FU	45,713	$1.02M	0.6%	Timeline
NMLNEUBERGER ENGY INFRSTR & INC	118,163	$1M	0.59%	Timeline
CXEMFS HIGH INCOME MUN TR	269,342	$997K	0.59%	Timeline
MINTPIMCO ETF TR	9,665	$970K	0.57%	Timeline
DFPFLAHERTY & CRUMRINE DYNAMIC	45,013	$936K	0.55%	Timeline
RLTYCOHEN & STEERS REAL ESTATE O	62,769	$923K	0.54%	Timeline
PFOFLAHERTY & CRUMRINE PFD INCO	96,222	$909K	0.54%	Timeline
PNNTPENNANTPARK INVTS CORP	150,093	$895K	0.53%	Timeline
JRINUVEEN REAL ASSET INCOME & G	64,898	$883K	0.52%	Timeline
NZFNUVEEN MUN CR INCOME FD	69,887	$879K	0.52%	Timeline
BGXBLACKSTONE LONG SHORT CR INC	75,299	$878K	0.52%	Timeline
PBDCPUTNAM ETF TRUST	28,476	$871K	0.51%	Timeline
XPCQXPIMCO CALIF MUN INCOME FD	96,355	$841K	0.5%	Timeline
XAODXABRDN TOTAL DYNAMIC DIVIDEND	85,593	$835K	0.49%	Timeline
JRSNUVEEN REAL ESTATE INCOME FD	108,645	$832K	0.49%	Timeline
PGZPRINCIPAL REAL ESTATE INCOME	82,598	$827K	0.49%	Timeline
MSFTMICROSOFT CORP	1,700	$822K	0.49%	Timeline
FLCFLAHERTY & CRUMRINE TOTAL RE	45,067	$789K	0.47%	Timeline
TBLDTHORNBURG INCM BUILDER OPP T	39,027	$784K	0.46%	Timeline
HQHABRDN HEALTHCARE INVESTORS	39,603	$750K	0.44%	Timeline
FDUSFIDUS INVT CORP	38,831	$749K	0.44%	Timeline
TSLXSIXTH STREET SPECIALTY LENDI	34,249	$744K	0.44%	Timeline
NMAINUVEEN MULTI ASSET INCOME FU	56,792	$741K	0.44%	Timeline
TCPCBLACKROCK TCP CAPITAL CORP	128,517	$703K	0.42%	Timeline
OTFBLUE OWL TECHNOLOGY FIN CORP	46,632	$678K	0.4%	Timeline
LEOBNY MELLON STRATEGIC MUNS IN	105,651	$672K	0.4%	Timeline
MMUWESTERN ASSET MANAGED MUNS F	62,541	$653K	0.39%	Timeline
NBXGNEUBERGER NEXT GENERATION	43,397	$627K	0.37%	Timeline
DSMBNY MELLON STRATEGIC MUN BD	100,339	$619K	0.37%	Timeline
BGBBLACKSTONE STRATEGIC CRED 20	52,172	$615K	0.36%	Timeline
NFJVIRTUS DIVIDEND INTEREST & P	46,947	$605K	0.36%	Timeline
XBOEXBLACKROCK ENHANCED GLOBAL	50,822	$595K	0.35%	Timeline
BTTBLACKROCK MUN TARGET TERM TR	24,907	$568K	0.34%	Timeline
RMMZRIVERNORTH MANAGED DUR MUN I	38,831	$564K	0.33%	Timeline
FSSLFS SPECIALTY LENDING FD	39,242	$555K	0.33%	Timeline
CETCENTRAL SECS CORP	10,927	$554K	0.33%	Timeline
GLADGLADSTONE CAP CORP	26,694	$551K	0.33%	Timeline
AEFABRDN EMERGING MARKETS EX CH	77,299	$541K	0.32%	Timeline
DIAXNUVEEN DOW 30SM DYNAMIC OVERWR	34,829	$531K	0.31%	Timeline
ETWEATON VANCE TAX-MANAGED GLOB	57,016	$526K	0.31%	Timeline
BCATBLACKROCK CAP ALLOCATION TER	36,623	$519K	0.31%	Timeline
DPGDUFF & PHELPS UTLITY AND INF	40,553	$515K	0.3%	Timeline
EIPIFIRST TR EXCHNG TRADED FD VI	25,347	$504K	0.3%	Timeline
HQLABRDN LIFE SCIENCES INVESTOR	29,706	$498K	0.29%	Timeline
NVGNUVEEN AMT FREE MUN CR INC F	39,081	$495K	0.29%	Timeline
XBGYXBLACKROCK ENHANCED INTL DIV	83,455	$491K	0.29%	Timeline
LLYELI LILLY & CO	400	$430K	0.25%	Timeline
ABNBAIRBNB INC	3,000	$407K	0.24%	Timeline
ADXADAMS DIVERSIFIED EQUITY FD	17,308	$404K	0.24%	Timeline
STEWSRH TOTAL RETURN FUND INC	21,298	$395K	0.23%	Timeline
JLSNUVEEN MORTGAGE AND INCOME F	20,810	$379K	0.22%	Timeline
WDIWESTERN ASSET DIVERSIFIED IN	27,348	$378K	0.22%	Timeline
AFBALLIANCEBERNSTEIN NATL MUN I	32,806	$355K	0.21%	Timeline
IGAVOYA GLBL ADV & PREM OPP FD	35,232	$342K	0.2%	Timeline
BTZBLACKROCK CR ALLOCATION	31,590	$342K	0.2%	Timeline
ERCALLSPRING MULTI SECTOR INCOM	36,682	$341K	0.2%	Timeline
ARDCARES DYNAMIC CR ALLOCATION F	24,811	$330K	0.19%	Timeline
GNTGAMCO NAT RES GOLD & INCOME	41,834	$312K	0.18%	Timeline
OPPRIVERNORTH DOUBLELINE STRATE	39,010	$310K	0.18%	Timeline
EMFTEMPLETON EMERGING MKTS FD	17,991	$306K	0.18%	Timeline
XEXGXEATON VANCE TAX-MANAGED GLOB	30,625	$292K	0.17%	Timeline
FMNFEDERATED HERMES PREM MUNI I	25,903	$288K	0.17%	Timeline
WHFWHITEHORSE FIN INC	41,157	$286K	0.17%	Timeline
PFLTPENNANTPARK FLOATING RATE CA	30,683	$284K	0.17%	Timeline
BCXBLACKROCK RES & COMMODITIES	25,802	$283K	0.17%	Timeline
NBHNEUBERGER MUN FD INC	27,931	$283K	0.17%	Timeline
IIMINVESCO VALUE MUN INCOME TR	22,641	$279K	0.16%	Timeline
FAXABRDN ASIA PACIFIC INCOME FU	18,092	$278K	0.16%	Timeline
HTGCHERCULES CAPITAL INC	14,211	$267K	0.16%	Timeline
FBDCFIRST TR EXCHNG TRADED FD VI	13,562	$263K	0.16%	Timeline
XGDVXGABELLI DIVID & INCOME TR	9,433	$262K	0.15%	Timeline
AMGNAMGEN INC	800	$262K	0.15%	Timeline
EDDMORGAN STANLEY EMERGING MKTS	47,782	$259K	0.15%	Timeline
MUJBLACKROCK MUNIHLDGS NJ QLTY	21,504	$256K	0.15%	Timeline
NRKNUVEEN NY AMT FREE	25,352	$256K	0.15%	Timeline
JFRNUVEEN FLOATING RATE INCOME	32,464	$254K	0.15%	Timeline
ASAASA GOLD AND PRECIOUS MTLS L	4,217	$252K	0.15%	Timeline
XJQCXNUVEEN CR STRATEGIES INCOME	48,856	$245K	0.14%	Timeline
BLACKROCK MUN INCOME TRBLACKROCK MUN INCOME TR	24,435	$245K	0.14%
CEFSEXCHANGE LISTED FDS TR	10,441	$241K	0.14%	Timeline
ACPABRDN INCOME CREDIT STRATEGI	43,953	$238K	0.14%	Timeline
NCZVIRTUS CONVERTIBLE & INC FD	16,956	$234K	0.14%	Timeline
TPVGTRIPLEPOINT VENTURE GROWTH B	35,503	$232K	0.14%	Timeline
PMOFRANKLIN MUN OPPORTUNITIES T	21,640	$232K	0.14%	Timeline
BLACKROCK MUNICIPAL INCOME …BLACKROCK MUNICIPAL INCOME QUA	20,892	$229K	0.13%
FSKFS KKR CAP CORP	15,427	$228K	0.13%	Timeline
BSTZBLACKROCK SCIENCE & TECHNOLO	10,070	$228K	0.13%	Timeline
PTACOHEN & STEERS TAX ADVAN PFD	11,674	$225K	0.13%	Timeline
ETJEATON VANCE RISK-MANAGED DIV	25,416	$224K	0.13%	Timeline
RFMRIVERNORTH FLEXIBLE MUN INCO	15,668	$219K	0.13%	Timeline
NCLONUSHARES ETF TR	8,705	$218K	0.13%	Timeline
MLCIMOUNT LOGAN CAP INC	25,844	$213K	0.13%	Timeline
XMVTXBLACKROCK MUNIVEST FUND II	19,445	$210K	0.12%	Timeline
NPCTNUVEEN CORE PLUS IMPACT FUND	20,638	$210K	0.12%	Timeline
DLYDOUBLELINE YIELD OPPORTUNITI	14,349	$209K	0.12%	Timeline
TYTRI CONTL CORP	6,338	$207K	0.12%	Timeline
NACNUVEEN CA DIVI ADV MUN	17,428	$206K	0.12%	Timeline
JPCNUVEEN PFD & INCOME OPPORTUN	24,785	$201K	0.12%	Timeline
EOTEATON VANCE NATL MUN OPPORT	11,837	$200K	0.12%	Timeline
XMCRXMFS CHARTER INCOME TR	30,841	$193K	0.11%	Timeline
DMBBNY MELLON MUN BD INFRASTRUC	16,625	$183K	0.11%	Timeline
CHWCALAMOS GBL DYN INCOME FUND	24,641	$183K	0.11%	Timeline
NCVVIRTUS CONVERTIBLE & INCOME	11,835	$179K	0.11%	Timeline
RVTROYCE SMALL CAP TRUST INC	10,940	$176K	0.1%	Timeline
BWGBRANDYWINEGBL GBL INCM OPP F	20,586	$172K	0.1%	Timeline
NADNUVEEN QUALITY MUNCP INCOME	14,125	$170K	0.1%	Timeline
DTFDTF TAX-FREE INCOME 2028 TER	14,433	$165K	0.1%	Timeline
XEFRXEATON VANCE SR FLTNG RTE TR	14,648	$163K	0.1%	Timeline
XRMMXRIVERNORTH MANAGED DUR MUN I	11,904	$162K	0.1%	Timeline
MMTABERDEEN MULTI-MARKET INCOME	34,588	$161K	0.09%	Timeline
BXMXNUVEEN S&P 500 BUY-WRITE INCOM	10,353	$152K	0.09%	Timeline
VGMINVESCO TR INVT GRADE MUNS	14,663	$152K	0.09%	Timeline
JGHNUVEEN GLOBAL HIGH INCOME FD	11,769	$148K	0.09%	Timeline
OCSLOAKTREE SPECIALTY LENDING	11,604	$148K	0.09%	Timeline
XNEAXNUVEEN AMT FREE QLTY MUN INC	12,608	$147K	0.09%	Timeline
RMTROYCE MICRO-CAP TR INC	13,807	$144K	0.09%	Timeline
XNROXNEUBERGER R/EST SECS INC FD	45,529	$138K	0.08%	Timeline
BCICBCP INVESTMENT CORPORATION	11,650	$138K	0.08%	Timeline
XNXJXNUVEEN NEW JERSEY	10,849	$137K	0.08%	Timeline
BLACKROCK MUNIHLDGS NY QLTYBLACKROCK MUNIHLDGS NY QLTY	13,196	$135K	0.08%
SBIWESTERN ASSET INTER MUNI	17,477	$134K	0.08%	Timeline
XIAEXVOYA ASIA PAC HIGH DIV EQT I	18,349	$134K	0.08%	Timeline
MUCBLACKROCK MUNIHLDNGS CALI	12,509	$133K	0.08%	Timeline
XIGDXVOYA GLBL EQTY DIV & PREM OP	23,122	$132K	0.08%	Timeline
LIENCHICAGO ATLANTIC BDC INC	12,718	$131K	0.08%	Timeline
MHDBLACKROCK MUNIHOLDINGS FD IN	10,831	$127K	0.08%	Timeline
CXHMFS INVT GRADE MUN TR	15,498	$123K	0.07%	Timeline
VVRINVESCO SR INCOME TR	34,683	$113K	0.07%	Timeline
GRXGABELLI HEALTHCARE & WELLNES	11,744	$113K	0.07%	Timeline
XMYDXBLACKROCK MUNIYIELD FUND	10,718	$112K	0.07%	Timeline
DHFBNY MELLON HIGH YIELD STRATE	44,008	$109K	0.06%	Timeline
XMVFXBLACKROCK MUNIVEST FUND	15,007	$104K	0.06%	Timeline
VGIVIRTUS GLOBAL MULTI-SECTOR I	13,216	$104K	0.06%	Timeline
BTXBLACKROCK TECH AND PRIVATE E	15,624	$103K	0.06%	Timeline
BRWSABA CAPITAL INCOME & OPRNT	14,310	$100K	0.06%	Timeline
PPTFRANKLIN PREMIER INCOME TR	27,293	$96.6K	0.06%	Timeline
GDLGDL FD	11,244	$95.2K	0.06%	Timeline
GLVCLOUGH GLOBAL DIVID & INCOME	14,401	$86K	0.05%	Timeline
MRCCMONROE CAP CORP	12,825	$81.7K	0.05%	Timeline
ZTRVIRTUS TOTAL RETURN FD INC	10,522	$66.3K	0.04%	Timeline
HIXWESTERN ASSET HIGH INCOM FD	12,020	$50K	0.03%	Timeline
XCMUXMFS HIGH YIELD MUN TR	13,091	$45.9K	0.03%	Timeline

How Q4 2025 was built

Available 13F filings of this filer for the quarter and their roles: the base report is the latest original or restatement, NEW HOLDINGS amendments filed after it are added (method).

Filing	Role	Amendment	Filed	Accepted	Ingested
13F-HR 0001214659-26-001467	base		2026-02-11	acceptance time not in the bulk data set	2026-10-07 03:01:36 UTC