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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
-1.21%
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
$126M
AUM Growth
-$38.6M
Cap. Flow
-$36.3M
Cap. Flow %
-28.71%
Top 10 Hldgs %
36.05%
Holding
144
New
15
Increased
15
Reduced
65
Closed
23

Top Buys

Rank Stock Value
1
AEF
abrdn Emerging Markets Equity Income Fund
AEF
+$5.18M
2
NXDT
NexPoint Diversified Real Estate Trust
NXDT
+$3.32M
3
NKG
Nuveen Georgia Quality Municipal Income Fund
NKG
+$1.98M
4
EVM
Eaton Vance California Municipal Bond Fund
EVM
+$1.67M
5
BFY
BlackRock New York Municipal Income Trust II
BFY
+$1.33M

Top Sells

Rank Stock Value
1
NTC
Nuveen Connecticut Quality Municipal Income Fund
NTC
+$4.72M
2
GCH
Aberdeen Greater China Fund
GCH
+$3.88M
3
ABE
Aberdeen Emerging Markets Smaller Company Opportunities Fund
ABE
+$3.2M
4
LAQ
Aberdeen Latin America Equity Fund
LAQ
+$2.7M
5
CAF
Morgan Stanley China A Share Fund
CAF
+$2.48M

Sector Composition

Rank Sector Weight
1 Real Estate 4.53%
2 Healthcare 3.58%
3 Technology 3.41%
4 Consumer Discretionary 2.98%
5 Financials 2.61%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
MXE
51
Mexico Equity and Income Fund
MXE
$57.6M
$747K 0.59%
72,262
-10,004
-12% -$104K
NTC
52
DELISTED
Nuveen Connecticut Quality Municipal Income Fund
NTC
$708K 0.56%
59,599
-403,490
-87% -$4.72M
VPV icon
53
Invesco Pennsylvania Value Municipal Income Trust
VPV
$195M
$705K 0.56%
58,895
-97,297
-62% -$1.15M
DRNA
54
DELISTED
Dicerna Pharmaceuticals, Inc.
DRNA
$698K 0.55%
57,000
– –
MCA
55
DELISTED
BLACKROCK MUNIYIELD CALIFORNIA QUALITY FUND, INC
MCA
$694K 0.55%
52,000
+1,900
+4% +$25.3K
NOC icon
56
Northrop Grumman
NOC
$78.1B
$644K 0.51%
2,092
– –
CCA
57
DELISTED
MFS California Municipal Fund
CCA
$630K 0.5%
61,700
+25,428
+70% +$263K
JOF
58
Japan Smaller Capitalization Fund
JOF
$323M
$587K 0.46%
50,320
-46,563
-48% -$567K
SOR
59
Source Capital
SOR
$370M
$578K 0.46%
14,544
-11,054
-43% -$444K
NBW
60
DELISTED
Neuberger Berman California Municipal Fund Inc.
NBW
$564K 0.45%
+45,056
New +$571K
TY icon
61
TRI-Continental Corp
TY
$1.88B
$552K 0.44%
20,813
-14,759
-41% -$397K
IRL
62
DELISTED
NEW IRELAND FUND INC
IRL
$527K 0.42%
45,120
-55,176
-55% -$664K
APF
63
DELISTED
Morgan Stanley Asia Pacific Fund
APF
$516K 0.41%
30,230
-20,706
-41% -$368K
GD icon
64
General Dynamics
GD
$106B
$515K 0.41%
2,762
+1
+0% +$205
NNC
65
DELISTED
Nuveen North Carolina Quality Municipal Income Fund
NNC
$489K 0.39%
39,642
-72,673
-65% -$890K
SABA
66
Saba Capital Income & Opportunities Fund II
SABA
$224M
$470K 0.37%
38,234
-23,356
-38% -$295K
LMT icon
67
Lockheed Martin
LMT
$134B
$469K 0.37%
1,586
– –
LUV icon
68
Southwest Airlines
LUV
$22.2B
$431K 0.34%
8,480
– –
BRK.B icon
69
Berkshire Hathaway Class B
BRK.B
$1.07T
$430K 0.34%
2,305
– –
ORBC
70
DELISTED
ORBCOMM, Inc.
ORBC
$425K 0.34%
42,040
+750
+2% +$7.14K
LEA icon
71
Lear
LEA
$7.19B
$413K 0.33%
2,225
– –
MMM icon
72
3M
MMM
$91.5B
$409K 0.32%
2,488
– –
SAGE
73
DELISTED
Sage Therapeutics
SAGE
$391K 0.31%
2,500
+1,000
+67% +$157K
SRV
74
NXG Cushing Midstream Energy Fund
SRV
$226M
$378K 0.3%
7,925
-6,473
-45% -$304K
LRCX icon
75
Lam Research
LRCX
$358B
$373K 0.3%
21,600
– –
1 2
3
4 5

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Matisse Capital's Q2 2018 Portfolio in Review

As of Q2 2018, Matisse Capital held 144 positions worth $126M, down 23% from $165M the previous quarter. Its ten largest holdings account for 36% of the portfolio.

Matisse Capital withdrew a net $36.3M in Q2 2018, closing 23 positions and reducing 65 holdings. Its most notable exit was Aberdeen Greater China Fund, an estimated $3.88M position sold in full.

By sector, the portfolio is most concentrated in Real Estate at 4.5% of assets, up from 3.7% a quarter earlier, followed by Healthcare and Technology.

Against the trend, Matisse Capital opened a new position in NexPoint Diversified Real Estate Trust worth $3.18M.

  • Matisse Capital's largest Q2 2018 buy was NexPoint Diversified Real Estate Trust: 144,833 shares worth $3.18M.
  • Matisse Capital added most to abrdn Emerging Markets Equity Income Fund in Q2 2018, an estimated $5.18M increase.
  • Matisse Capital's biggest Q2 2018 reduction was Nuveen Connecticut Quality Municipal Income Fund, cutting an estimated $4.72M.
  • Matisse Capital fully exited Aberdeen Greater China Fund in Q2 2018, selling an estimated $3.88M.
  • Matisse Capital's ten largest holdings make up 36% of its $126M portfolio in Q2 2018.
  • Matisse Capital opened 15 new positions and closed 23 in Q2 2018.
  • Matisse Capital's portfolio value fell 23% quarter-over-quarter to $126M.

Based on Matisse Capital's 13F filing for Q2 2018, filed 13 Jul 2018.