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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
-1.48%
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
$165M
AUM Growth
-$53.9M
Cap. Flow
-$51.3M
Cap. Flow %
-31.07%
Top 10 Hldgs %
32.19%
Holding
141
New
9
Increased
23
Reduced
74
Closed
12

Top Buys

Rank Stock Value
1
GDL
GDL Fund
GDL
+$2.55M
2
FHY
First Trust Strategic High
FHY
+$1.15M
3
EVM
Eaton Vance California Municipal Bond Fund
EVM
+$1.02M
4
MCA
BLACKROCK MUNIYIELD CALIFORNIA QUALITY FUND, INC
MCA
+$696K
5
EMJ
Eaton Vance New Jersey Municipal Bond Fund
EMJ
+$618K

Top Sells

Rank Stock Value
1
STEW
SRH Total Return Fund
STEW
+$12.8M
2
TTF
Thai Fund
TTF
+$4.6M
3
GAM
General American Investors Company
GAM
+$4.48M
4
PEO
Adams Natural Resources Fund
PEO
+$3.12M
5
INF
BROOKFIELD GLOBAL LISTED INFRASTRUCTURE INCOME FUND INC.
INF
+$2.89M

Sector Composition

Rank Sector Weight
1 Real Estate 3.71%
2 Technology 2.69%
3 Healthcare 2.24%
4 Financials 2.21%
5 Industrials 2.18%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
SOR
51
Source Capital
SOR
$372M
$1.02M 0.62%
25,598
-12,027
-32% -$496K
PGZ
52
Principal Real Estate Income Fund
PGZ
$68.9M
$966K 0.59%
57,716
-8,266
-13% -$139K
NMY
53
DELISTED
Nuveen Maryland Quality Municipal Income Fund
NMY
$966K 0.59%
79,859
+9,300
+13% +$114K
EVM
54
DELISTED
Eaton Vance California Municipal Bond Fund
EVM
$963K 0.58%
+93,873
New +$1.02M
TY icon
55
TRI-Continental Corp
TY
$1.86B
$936K 0.57%
35,572
-10,828
-23% -$294K
APF
56
DELISTED
Morgan Stanley Asia Pacific Fund
APF
$928K 0.56%
50,936
-26,127
-34% -$489K
AMZN icon
57
Amazon
AMZN
$2.48T
$923K 0.56%
12,760
+500
+4% +$35.8K
MXE
58
Mexico Equity and Income Fund
MXE
$58.5M
$902K 0.55%
82,266
-23,937
-23% -$262K
EMI
59
DELISTED
Eaton Vance Michigan Municipal Income Trust
EMI
$875K 0.53%
71,510
-4,251
-6% -$53.1K
AKP
60
DELISTED
Alliance Californa Muni Fd
AKP
$788K 0.48%
61,985
-3,300
-5% -$43.1K
SABA
61
Saba Capital Income & Opportunities Fund II
SABA
$221M
$787K 0.48%
61,590
-15,509
-20% -$199K
VHT icon
62
Vanguard Health Care ETF
VHT
$18.6B
$733K 0.44%
4,776
+685
+17% +$109K
NOC icon
63
Northrop Grumman
NOC
$78B
$730K 0.44%
2,092
– –
BWG
64
BrandywineGLOBAL Global Income Opportunities Fund
BWG
$129M
$723K 0.44%
56,112
-62,493
-53% -$810K
NKE icon
65
Nike
NKE
$63.9B
$711K 0.43%
10,704
-700
-6% -$46.2K
JEQ
66
DELISTED
abrdn Japan Equity Fund
JEQ
$700K 0.42%
76,416
-19,162
-20% -$177K
MCA
67
DELISTED
BLACKROCK MUNIYIELD CALIFORNIA QUALITY FUND, INC
MCA
$667K 0.4%
+50,100
New +$696K
TEI
68
Templeton Emerging Markets Income Fund
TEI
$314M
$636K 0.39%
56,260
-43,258
-43% -$505K
GD icon
69
General Dynamics
GD
$106B
$610K 0.37%
2,761
+1
+0% +$218
SRV
70
NXG Cushing Midstream Energy Fund
SRV
$218M
$600K 0.36%
14,398
-5,402
-27% -$255K
ASND icon
71
Ascendis Pharma A/S
ASND
$16.7B
$595K 0.36%
9,100
-2,990
-25% -$168K
DRNA
72
DELISTED
Dicerna Pharmaceuticals, Inc.
DRNA
$545K 0.33%
57,000
-43,000
-43% -$464K
SPHD icon
73
Invesco S&P 500 High Dividend Low Volatility ETF
SPHD
$3.42B
$539K 0.33%
13,669
-3,573
-21% -$146K
LMT icon
74
Lockheed Martin
LMT
$134B
$536K 0.32%
1,586
– –
LUV icon
75
Southwest Airlines
LUV
$22.7B
$486K 0.29%
8,480
– –
1 2
3
4 5

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Matisse Capital's Q1 2018 Portfolio in Review

As of Q1 2018, Matisse Capital held 141 positions worth $165M, down 25% from $219M the previous quarter. Its ten largest holdings account for 32% of the portfolio.

Matisse Capital withdrew a net $51.3M in Q1 2018, closing 12 positions and reducing 74 holdings. Its most notable exit was Thai Fund, an estimated $4.6M position sold in full.

By sector, the portfolio is most concentrated in Real Estate at 3.7% of assets, up from 3.5% a quarter earlier, followed by Technology and Healthcare.

Against the trend, Matisse Capital opened a new position in First Trust Strategic High worth $1.13M.

  • Matisse Capital's largest Q1 2018 buy was First Trust Strategic High: 92,828 shares worth $1.13M.
  • Matisse Capital added most to GDL Fund in Q1 2018, an estimated $2.55M increase.
  • Matisse Capital's biggest Q1 2018 reduction was SRH Total Return Fund, cutting an estimated $12.8M.
  • Matisse Capital fully exited Thai Fund in Q1 2018, selling an estimated $4.6M.
  • Matisse Capital's ten largest holdings make up 32% of its $165M portfolio in Q1 2018.
  • Matisse Capital opened 9 new positions and closed 12 in Q1 2018.
  • Matisse Capital's portfolio value fell 25% quarter-over-quarter to $165M.

Based on Matisse Capital's 13F filing for Q1 2018, filed 30 Apr 2018.