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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
EVF
151
Eaton Vance Senior Income Trust
EVF
$90.3M
– –
-228,837
Closed -$1.22M
FCT
152
First Trust Senior Floating Rate Income Fund II
FCT
$251M
– –
-119,643
Closed -$1.3M
GF
153
New Germany Fund
GF
$182M
– –
-18,300
Closed -$278K
HYD icon
154
VanEck High Yield Muni ETF
HYD
$4.43B
– –
-4,116
Closed -$244K
JRS icon
155
Nuveen Real Estate Income Fund
JRS
$249M
– –
-24,801
Closed -$185K
KF
156
Korea Fund
KF
$231M
– –
-8,350
Closed -$216K
MXF
157
Mexico Fund
MXF
$314M
– –
-10,634
Closed -$104K
NAZ icon
158
Nuveen Arizona Quality Municipal Income Fund
NAZ
$155M
– –
-25,414
Closed -$346K
PCEF icon
159
Invesco CEF Income Composite ETF
PCEF
$801M
– –
-246,733
Closed -$4.9M
PEO
160
Adams Natural Resources Fund
PEO
$739M
– –
-204,636
Closed -$2.24M
RA
161
Brookfield Real Assets Income Fund
RA
$708M
– –
-128,812
Closed -$2.15M
RNP icon
162
Cohen & Steers REIT and Preferred and Income Fund
RNP
$982M
– –
-55,989
Closed -$1.07M
RQI icon
163
Cohen & Steers Quality Income Realty Fund
RQI
$1.7B
– –
-57,360
Closed -$627K
RYTM icon
164
Rhythm Pharmaceuticals
RYTM
$6.81B
– –
-9,130
Closed -$204K
VCV icon
165
Invesco California Value Municipal Income Trust
VCV
$518M
– –
-57,743
Closed -$674K
XMPT icon
166
VanEck CEF Muni Income ETF
XMPT
$219M
– –
-23,870
Closed -$628K
YYY icon
167
Amplify CEF High Income ETF
YYY
$717M
– –
-57,059
Closed -$817K
HYB
168
DELISTED
New America High Income Fund, Inc.
HYB
– –
-222,663
Closed -$1.74M
FEO
169
DELISTED
First Trust/abrdn Emerging Opportunity Fund
FEO
– –
-29,629
Closed -$350K
NMY
170
DELISTED
Nuveen Maryland Quality Municipal Income Fund
NMY
– –
-10,700
Closed -$138K
JRO
171
DELISTED
Nuveen Floating Rate Income Opportunty Fund
JRO
– –
-417,452
Closed -$3.28M
NCB
172
DELISTED
Nuveen California Municipal Value Fund 2
NCB
– –
-11,876
Closed -$171K
3 4 5 6
7

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BWM
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HWMT
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SP
Saranac Partners London $234M AUM 14.11% 1-Year Est. Return
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 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.