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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
+2.77%
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
$250M
AUM Growth
-$51.1M
Cap. Flow
-$56M
Cap. Flow %
-22.42%
Top 10 Hldgs %
32.36%
Holding
172
New
17
Increased
21
Reduced
67
Closed
25

Top Buys

Rank Stock Value
1
TDF
Templeton Dragon Fund
TDF
+$2.44M
2
IGD
Voya Global Equity Dividend and Premium Opportunity Fund
IGD
+$2.23M
3
CAF
Morgan Stanley China A Share Fund
CAF
+$2.04M
4
CHN
China Fund
CHN
+$2.01M
5
CET
Central Securities Corp
CET
+$1.68M

Top Sells

Rank Stock Value
1
FAX
abrdn Asia-Pacific Income Fund
FAX
+$7.71M
2
PCEF icon
Invesco CEF Income Composite ETF
PCEF
+$4.9M
3
VTA
INVESCO DYNAMIC CREDIT OPPORTUNITIES FUND
VTA
+$3.54M
4
JRO
Nuveen Floating Rate Income Opportunty Fund
JRO
+$3.28M
5
JSD
NUVEEN SHORT DURATION CREDIT OPPORTUNITIES FUND
JSD
+$3.23M

Sector Composition

Rank Sector Weight
1 Technology 3.48%
2 Financials 3.32%
3 Healthcare 2.58%
4 Consumer Discretionary 1.82%
5 Real Estate 1.12%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
KYN icon
51
Kayne Anderson Energy Infrastructure Fund
KYN
$2.47B
$1.37M 0.55%
343,603
– –
USB icon
52
US Bancorp
USB
$98.2B
$1.36M 0.55%
38,066
+300
+0.8% +$11K
IRL
53
DELISTED
NEW IRELAND FUND INC
IRL
$1.31M 0.53%
156,400
-8,200
-5% -$69K
TY icon
54
TRI-Continental Corp
TY
$1.86B
$1.3M 0.52%
50,072
– –
FEI
55
DELISTED
FIRST TRUST MLP AND ENERGY INCOME FUND
FEI
$1.26M 0.5%
270,837
-2,600
-1% -$13.5K
ARDC
56
Are Dynamic Credit Allocation Fund
ARDC
$297M
$1.24M 0.5%
98,104
-249,792
-72% -$3.13M
CEE
57
Central and Eastern Europe Fund
CEE
$134M
$1.04M 0.42%
52,798
-3,600
-6% -$76.7K
NKE icon
58
Nike
NKE
$61.9B
$960K 0.38%
7,650
-150
-2% -$16.1K
LRCX icon
59
Lam Research
LRCX
$367B
$907K 0.36%
27,350
+2,000
+8% +$68.9K
VVR icon
60
Invesco Senior Income Trust
VVR
$457M
$874K 0.35%
238,792
-290,120
-55% -$1.04M
AEF
61
abrdn Emerging Markets Equity Income Fund
AEF
$356M
$823K 0.33%
127,028
+84,357
+198% +$554K
INTC icon
62
Intel
INTC
$455B
$779K 0.31%
15,041
-1,994
-12% -$104K
GOOGL icon
63
Alphabet (Google) Class A
GOOGL
$4.36T
$774K 0.31%
10,560
– –
JSD
64
DELISTED
NUVEEN SHORT DURATION CREDIT OPPORTUNITIES FUND
JSD
$754K 0.3%
60,899
-269,788
-82% -$3.23M
JDD
65
DELISTED
Nuveen Diversified Dividend and Income Fund
JDD
$729K 0.29%
93,813
– –
RMT
66
Royce Micro-Cap Trust
RMT
$728M
$725K 0.29%
94,556
– –
XLU icon
67
State Street Utilities Select Sector SPDR ETF
XLU
$22.8B
$710K 0.28%
23,904
+198
+0.8% +$5.88K
NCZ
68
Virtus Convertible & Income Fund II
NCZ
$294M
$699K 0.28%
42,503
– –
NXJ
69
DELISTED
Nuveen New Jersey Quality Municipal Income Fund
NXJ
$678K 0.27%
50,146
-119,087
-70% -$1.63M
AIF
70
DELISTED
Apollo Tactical Income Fund Inc.
AIF
$648K 0.26%
51,000
-209,895
-80% -$2.65M
MSD
71
Morgan Stanley Emerging Markets Debt Fund
MSD
$146M
$638K 0.26%
+76,000
New +$656K
JRI icon
72
Nuveen Real Asset Income & Growth Fund
JRI
$356M
$623K 0.25%
51,646
– –
ELV icon
73
Elevance Health
ELV
$81.5B
$610K 0.24%
2,272
– –
EMD
74
Western Asset Emerging Markets Debt Fund
EMD
$609M
$595K 0.24%
48,267
-74,756
-61% -$960K
NBW
75
DELISTED
Neuberger Berman California Municipal Fund Inc.
NBW
$571K 0.23%
44,100
+30,306
+220% +$401K
1 2
3
4 5

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Matisse Capital's Q3 2020 Portfolio in Review

As of Q3 2020, Matisse Capital held 172 positions worth $250M, down 17% from $301M the previous quarter. Its ten largest holdings account for 32% of the portfolio.

Matisse Capital withdrew a net $56M in Q3 2020, closing 25 positions and reducing 67 holdings. Its most notable exit was Invesco CEF Income Composite ETF, an estimated $4.9M position sold in full.

By sector, the portfolio is most concentrated in Technology at 3.5% of assets, up from 2.7% a quarter earlier, followed by Financials and Healthcare.

Against the trend, Matisse Capital opened a new position in Morgan Stanley Emerging Markets Debt Fund worth $638K.

  • Matisse Capital's largest Q3 2020 buy was Morgan Stanley Emerging Markets Debt Fund: 76,000 shares worth $638K.
  • Matisse Capital added most to Templeton Dragon Fund in Q3 2020, an estimated $2.44M increase.
  • Matisse Capital's biggest Q3 2020 reduction was abrdn Asia-Pacific Income Fund, cutting an estimated $7.71M.
  • Matisse Capital fully exited Invesco CEF Income Composite ETF in Q3 2020, selling an estimated $4.9M.
  • Matisse Capital's ten largest holdings make up 32% of its $250M portfolio in Q3 2020.
  • Matisse Capital opened 17 new positions and closed 25 in Q3 2020.
  • Matisse Capital's portfolio value fell 17% quarter-over-quarter to $250M.

Based on Matisse Capital's 13F filing for Q3 2020, filed 4 Nov 2020.