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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
VPV icon
126
Invesco Pennsylvania Value Municipal Income Trust
VPV
$193M
$193K 0.08%
15,722
+4,166
+36% +$52.2K
DHF
127
BNY Mellon High Yield Strategies Fund
DHF
$171M
$192K 0.08%
71,000
– –
SABA
128
Saba Capital Income & Opportunities Fund II
SABA
$220M
$189K 0.08%
17,632
-88,404
-83% -$954K
JQC icon
129
Nuveen Credit Strategies Income Fund
JQC
$704M
$185K 0.07%
31,249
-159,043
-84% -$952K
VTN icon
130
Invesco Trust for Investment Grade New York Municipals
VTN
$159M
$177K 0.07%
+14,300
New +$179K
EMF
131
Templeton Emerging Markets Fund
EMF
$317M
$163K 0.07%
10,600
-16,000
-60% -$242K
NUM
132
DELISTED
Nuveen Michigan Quality Municipal Income Fund
NUM
$162K 0.06%
11,400
+300
+3% +$4.22K
NBO
133
DELISTED
Neuberger Berman New York Municipal Fund Inc.
NBO
$140K 0.06%
12,018
-9,272
-44% -$111K
GHG
134
GreenTree Hospitality
GHG
$117M
$136K 0.05%
10,000
– –
SBI
135
Western Asset Intermediate Muni Fund
SBI
$107M
$134K 0.05%
+14,797
New +$132K
SCPH
136
DELISTED
scPharmaceuticals
SCPH
$132K 0.05%
17,685
– –
NKG
137
DELISTED
Nuveen Georgia Quality Municipal Income Fund
NKG
$126K 0.05%
10,300
-8,300
-45% -$103K
NG icon
138
NovaGold Resources
NG
$2.56B
$119K 0.05%
10,000
– –
IRR
139
DELISTED
VOYA NATURAL RESOURCES EQUITY INCOME FUND
IRR
$105K 0.04%
43,000
-65,100
-60% -$162K
SMM
140
DELISTED
Salient Midstream & MLP Fund
SMM
$76K 0.03%
21,800
-22,100
-50% -$87.9K
LPTH icon
141
Lightpath Technologies
LPTH
$651M
$64K 0.03%
26,730
-5,666
-17% -$16.5K
ORTX
142
DELISTED
Orchard Therapeutics plc American Depositary Shares
ORTX
$58K 0.02%
+1,400
New +$72.4K
VSTM icon
143
Verastem
VSTM
$510M
$56K 0.02%
3,833
-3,834
-50% -$63.5K
SLDB icon
144
Solid Biosciences
SLDB
$794M
$50K 0.02%
1,633
– –
SIEN
145
DELISTED
Sientra, Inc.
SIEN
$47K 0.02%
+1,382
New +$52.4K
CIK
146
Credit Suisse Asset Management Income Fund
CIK
$134M
$42K 0.02%
+14,173
New +$40.2K
UUUU icon
147
Energy Fuels
UUUU
$2.86B
$32K 0.01%
19,284
– –
AWP
148
abrdn Global Premier Properties Fund
AWP
$372M
– –
-7,600
Closed -$106K
CVX icon
149
Chevron
CVX
$392B
– –
-2,795
Closed -$249K
EEA
150
European Equity Fund
EEA
$75.2M
– –
-21,119
Closed -$176K
3 4 5
6
7

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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.