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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
BFZ
51
DELISTED
BlackRock CA Municipal Income Trust
BFZ
$725K 0.5%
49,815
– –
LOW icon
52
Lowe's Companies
LOW
$118B
$698K 0.48%
2,700
– –
VPU
53
Vanguard Utilities ETF
VPU
$8.52B
$688K 0.48%
4,400
– –
DTF
54
DTF Tax-Free Income 2028 Term Fund
DTF
$80.5M
$686K 0.47%
48,000
– –
COST icon
55
Costco
COST
$423B
$680K 0.47%
1,198
+73
+6% +$37.4K
BRK.B icon
56
Berkshire Hathaway Class B
BRK.B
$1.1T
$659K 0.46%
2,205
– –
TEAF
57
DELISTED
Ecofin Sustainable & Social Impact Term Fund
TEAF
$641K 0.44%
43,814
-276,435
-86% -$4.01M
INTC icon
58
Intel
INTC
$460B
$623K 0.43%
12,100
-1,854
-13% -$94.8K
JGH icon
59
Nuveen Global High Income Fund
JGH
$352M
$605K 0.42%
38,103
– –
EMO
60
ClearBridge Energy Midstream Opportunity Fund
EMO
$1.02B
$603K 0.42%
27,588
-249,312
-90% -$5.72M
ADI icon
61
Analog Devices
ADI
$179B
$600K 0.41%
3,416
– –
HUBS icon
62
HubSpot
HUBS
$11.9B
$593K 0.41%
900
– –
MED icon
63
Medifast
MED
$110M
$586K 0.41%
2,800
+100
+4% +$20.7K
STEW
64
SRH Total Return Fund
STEW
$1.78B
$581K 0.4%
40,863
-346,630
-89% -$4.67M
IVH
65
DELISTED
Delaware Ivy High Income Opportunities Fund
IVH
$574K 0.4%
41,193
– –
EEA
66
European Equity Fund
EEA
$75.4M
$565K 0.39%
+54,493
New +$612K
IT icon
67
Gartner
IT
$10.2B
$562K 0.39%
+1,680
New +$540K
ASA
68
ASA Gold and Precious Metals
ASA
$955M
$539K 0.37%
25,549
-284,699
-92% -$5.93M
WIW
69
Western Asset Inflation-Linked Opportunities & Income Fund
WIW
$507M
$527K 0.36%
38,800
– –
BGB
70
Blackstone Strategic Credit 2027 Term Fund
BGB
$499M
$526K 0.36%
39,000
– –
WMT icon
71
Walmart Inc
WMT
$884B
$490K 0.34%
10,167
– –
BGX
72
Blackstone Long-Short Credit Income Fund
BGX
$136M
$488K 0.34%
33,200
-1,500
-4% -$22.6K
XLU icon
73
State Street Utilities Select Sector SPDR ETF
XLU
$23B
$479K 0.33%
13,378
+96
+0.7% +$3.24K
MA icon
74
Mastercard
MA
$510B
$476K 0.33%
1,325
-91
-6% -$31.5K
KYN icon
75
Kayne Anderson Energy Infrastructure Fund
KYN
$2.45B
$468K 0.32%
60,126
-103,063
-63% -$842K
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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AL3A
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JRPCML
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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.