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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
VTI icon
126
Vanguard Morningstar Total Stock Market ETF
VTI
$656B
$202K 0.14%
+835
New +$197K
IWM icon
127
iShares Russell 2000 ETF
IWM
$79.6B
$201K 0.14%
+904
New +$204K
VTN icon
128
Invesco Trust for Investment Grade New York Municipals
VTN
$159M
$192K 0.13%
14,300
– –
UUUU icon
129
Energy Fuels
UUUU
$2.84B
$124K 0.09%
16,248
-510
-3% -$4.31K
NML
130
Neuberger Energy Infrastructure and Income Fund Inc
NML
$584M
$112K 0.08%
21,400
-1,145,205
-98% -$6.02M
DHY
131
Credit Suisse High Yield Credit Fund
DHY
$240M
$105K 0.07%
42,500
– –
VSTM icon
132
Verastem
VSTM
$505M
$72K 0.05%
2,917
– –
NG icon
133
NovaGold Resources
NG
$2.58B
$69K 0.05%
10,000
– –
SIEN
134
DELISTED
Sientra, Inc.
SIEN
$58K 0.04%
1,582
– –
KALA icon
135
KALA BIO
KALA
$13M
$50K 0.03%
17
-5
-23% -$23.2K
WVE icon
136
Wave Life Sciences
WVE
$1.1B
$42K 0.03%
13,223
– –
ORTX
137
DELISTED
Orchard Therapeutics plc American Depositary Shares
ORTX
$13K 0.01%
1,000
-400
-29% -$6.62K
ADX icon
138
Adams Diversified Equity Fund
ADX
$3.09B
– –
-578,248
Closed -$11.4M
ARVN icon
139
Arvinas
ARVN
$521M
– –
-7,730
Closed -$635K
ASGI
140
abrdn Global Infrastructure Income Fund
ASGI
$754M
– –
-43,674
Closed -$870K
CET
141
Central Securities Corp
CET
$1.56B
– –
-262,240
Closed -$11.1M
CHN
142
DELISTED
China Fund
CHN
– –
-80,080
Closed -$2.04M
COIN icon
143
Coinbase
COIN
$37.2B
– –
-1,101
Closed -$250K
CPZ
144
Calamos Long/Short Equity & Dynamic Income Trust
CPZ
$258M
– –
-131,692
Closed -$2.68M
GAM
145
General American Investors Company
GAM
$1.56B
– –
-121,952
Closed -$5.25M
GDL
146
GDL Fund
GDL
$91.8M
– –
-185,744
Closed -$1.67M
GGZ
147
Gabelli Global Small and Mid-Cap Value Trust
GGZ
$125M
– –
-120,674
Closed -$1.92M
GRF
148
Eagle Capital Growth Fund
GRF
$40M
– –
-88,396
Closed -$830K
GRX
149
Gabelli Healthcare & Wellness Trust
GRX
$143M
– –
-196,463
Closed -$2.6M
HFRO
150
Highland Opportunities and Income Fund
HFRO
$408M
– –
-1,233,000
Closed -$13.3M
3 4 5
6
7

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BWM
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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.