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Matisse Capital Portfolio holdings

AUM $234M
1-Year Est. Return 19.72%
This Fund
S&P 500
This Quarter Est. Return
+3.85%
1 Year Est. Return
+19.72%
3 Year Est. Return
+52.07%
5 Year Est. Return
+45.94%
10 Year Est. Return
+148.24%
AUM
$145M
AUM Growth
-$127M
Cap. Flow
-$132M
Cap. Flow %
-91.32%
Top 10 Hldgs %
41.03%
Holding
172
New
22
Increased
21
Reduced
33
Closed
35

Top Buys

Rank Stock Value
1
AMLP icon
Alerian MLP ETF
AMLP
+$13.5M
2
SBIO icon
ALPS Medical Breakthroughs ETF
SBIO
+$5.99M
3
SPY icon
State Street SPDR S&P 500 ETF Trust
SPY
+$5.25M
4
QQQ icon
Invesco QQQ Trust
QQQ
+$5.16M
5
BTX
BlackRock Technology and Private Equity Term Trust
BTX
+$2.49M

Top Sells

Rank Stock Value
1
PSTH
Pershing Square Tontine Holdings, Ltd.
PSTH
+$13.4M
2
HFRO
Highland Opportunities and Income Fund
HFRO
+$13.3M
3
ADX icon
Adams Diversified Equity Fund
ADX
+$11.4M
4
CET
Central Securities Corp
CET
+$11.1M
5
KMF
Kayne Anderson NextGen Energy & Infrastructure, Inc.
KMF
+$8.38M

Sector Composition

Rank Sector Weight
1 Technology 13.61%
2 Healthcare 5.6%
3 Consumer Discretionary 5.4%
4 Financials 4.78%
5 Communication Services 1.47%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
ACN icon
26
Accenture
ACN
$106B
$1.36M 0.94%
+3,286
New +$1.2M
SOFI icon
27
SoFi Technologies
SOFI
$19.6B
$1.26M 0.87%
+79,443
New +$1.46M
NKE icon
28
Nike
NKE
$64.1B
$1.2M 0.83%
7,218
-30
-0.4% -$4.95K
FAX
29
abrdn Asia-Pacific Income Fund
FAX
$592M
$1.2M 0.83%
52,450
+6,000
+13% +$147K
NBW
30
DELISTED
Neuberger Berman California Municipal Fund Inc.
NBW
$1.19M 0.82%
85,100
+20,000
+31% +$278K
EDD
31
Morgan Stanley Emerging Markets Domestic Debt Fund
EDD
$375M
$1.15M 0.8%
210,100
-786,308
-79% -$4.49M
HD icon
32
Home Depot
HD
$337B
$1.06M 0.74%
2,564
– –
MXF
33
Mexico Fund
MXF
$307M
$1.04M 0.72%
+66,335
New +$990K
CCIF
34
Carlyle Credit Income Fund
CCIF
$57.2M
$1.01M 0.7%
99,000
-109,890
-53% -$1.15M
VMM
35
DELISTED
Delaware Investments Minnesota Municipal Income Fund II
VMM
$988K 0.68%
70,000
– –
DYFN
36
DELISTED
Angel Oak Dynamic Financial Strategies Income Term Trust
DYFN
$968K 0.67%
47,000
– –
ISRG icon
37
Intuitive Surgical
ISRG
$127B
$942K 0.65%
2,623
+1,000
+62% +$344K
FINS
38
Angel Oak Financial Strategies Income Term Trust
FINS
$416M
$928K 0.64%
54,425
+21,368
+65% +$359K
SHOP icon
39
Shopify
SHOP
$168B
$882K 0.61%
6,400
+1,400
+28% +$205K
NXJ
40
DELISTED
Nuveen New Jersey Quality Municipal Income Fund
NXJ
$864K 0.6%
56,146
– –
NBO
41
DELISTED
Neuberger Berman New York Municipal Fund Inc.
NBO
$861K 0.6%
66,222
+2,074
+3% +$26.5K
JSD
42
DELISTED
NUVEEN SHORT DURATION CREDIT OPPORTUNITIES FUND
JSD
$859K 0.59%
58,000
– –
FMO
43
DELISTED
Fiduciary/Claymore Energy Infrastructure Fund
FMO
$806K 0.56%
+77,845
New +$848K
BWG
44
BrandywineGLOBAL Global Income Opportunities Fund
BWG
$129M
$796K 0.55%
68,000
– –
MSD
45
Morgan Stanley Emerging Markets Debt Fund
MSD
$146M
$789K 0.55%
87,582
+582
+0.7% +$5.3K
GHY
46
PGIM Global High Yield Fund
GHY
$476M
$785K 0.54%
52,000
– –
CEV
47
Eaton Vance California Municipal Income Trust
CEV
$71.5M
$783K 0.54%
57,800
– –
VPV icon
48
Invesco Pennsylvania Value Municipal Income Trust
VPV
$195M
$780K 0.54%
55,837
– –
AIF
49
DELISTED
Apollo Tactical Income Fund Inc.
AIF
$779K 0.54%
50,826
– –
CTR
50
DELISTED
ClearBridge MLP and Midstream Total Return Fund Inc.
CTR
$752K 0.52%
+31,750
New +$799K
1
2
3 4 5

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HWMT
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SP
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CF
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IAG
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JHWEPV
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Matisse Capital's Q4 2021 Portfolio in Review

As of Q4 2021, Matisse Capital held 172 positions worth $145M, down 47% from $272M the previous quarter. Its ten largest holdings account for 41% of the portfolio.

Matisse Capital withdrew a net $132M in Q4 2021, closing 35 positions and reducing 33 holdings. Its most notable exit was Highland Opportunities and Income Fund, an estimated $13.3M position sold in full.

By sector, the portfolio is most concentrated in Technology at 14% of assets, up from 6% a quarter earlier, followed by Healthcare and Consumer Discretionary.

Against the trend, Matisse Capital opened a new position in Alerian MLP ETF worth $13.1M.

  • Matisse Capital's largest Q4 2021 buy was Alerian MLP ETF: 400,000 shares worth $13.1M.
  • Matisse Capital added most to ALPS Medical Breakthroughs ETF in Q4 2021, an estimated $5.99M increase.
  • Matisse Capital's biggest Q4 2021 reduction was Pershing Square Tontine Holdings, Ltd., cutting an estimated $13.4M.
  • Matisse Capital fully exited Highland Opportunities and Income Fund in Q4 2021, selling an estimated $13.3M.
  • Matisse Capital's ten largest holdings make up 41% of its $145M portfolio in Q4 2021.
  • Matisse Capital opened 22 new positions and closed 35 in Q4 2021.
  • Matisse Capital's portfolio value fell 47% quarter-over-quarter to $145M.

Based on Matisse Capital's 13F filing for Q4 2021, filed 4 Feb 2022.