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MC

Matisse Capital Portfolio holdings

AUM $234M
1-Year Est. Return 19.72%
This Fund
S&P 500
This Quarter Est. Return
-1.48%
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
$165M
AUM Growth
-$53.9M
Cap. Flow
-$51.3M
Cap. Flow %
-31.07%
Top 10 Hldgs %
32.19%
Holding
141
New
9
Increased
23
Reduced
74
Closed
12

Top Buys

Rank Stock Value
1
GDL
GDL Fund
GDL
+$2.55M
2
FHY
First Trust Strategic High
FHY
+$1.15M
3
EVM
Eaton Vance California Municipal Bond Fund
EVM
+$1.02M
4
MCA
BLACKROCK MUNIYIELD CALIFORNIA QUALITY FUND, INC
MCA
+$696K
5
EMJ
Eaton Vance New Jersey Municipal Bond Fund
EMJ
+$618K

Top Sells

Rank Stock Value
1
STEW
SRH Total Return Fund
STEW
+$12.8M
2
TTF
Thai Fund
TTF
+$4.6M
3
GAM
General American Investors Company
GAM
+$4.48M
4
PEO
Adams Natural Resources Fund
PEO
+$3.12M
5
INF
BROOKFIELD GLOBAL LISTED INFRASTRUCTURE INCOME FUND INC.
INF
+$2.89M

Sector Composition

Rank Sector Weight
1 Real Estate 3.71%
2 Technology 2.69%
3 Healthcare 2.24%
4 Financials 2.21%
5 Industrials 2.18%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
CET
1
Central Securities Corp
CET
$1.55B
$6.67M 4.04%
250,142
-28,875
-10% -$793K
SEVN
2
Seven Hills Realty Trust
SEVN
$177M
$6.12M 3.71%
367,090
-38,927
-10% -$669K
NXJ
3
DELISTED
Nuveen New Jersey Quality Municipal Income Fund
NXJ
$5.71M 3.46%
437,853
-46,584
-10% -$618K
GDL
4
GDL Fund
GDL
$91.9M
$5.65M 3.42%
605,744
+264,336
+77% +$2.55M
MSF
5
DELISTED
Morgan Stanley Emerging Mkts Fd
MSF
$5.38M 3.26%
291,987
-30,504
-9% -$573K
NTC
6
DELISTED
Nuveen Connecticut Quality Municipal Income Fund
NTC
$5.33M 3.23%
463,089
-39,111
-8% -$457K
DNI
7
DELISTED
Dividend and Income Fund
DNI
$5.32M 3.22%
423,258
-35,242
-8% -$472K
MXF
8
Mexico Fund
MXF
$305M
$4.7M 2.85%
290,178
-32,898
-10% -$539K
CHN
9
DELISTED
China Fund
CHN
$4.32M 2.62%
194,897
-40,538
-17% -$921K
CEE
10
Central and Eastern Europe Fund
CEE
$135M
$3.92M 2.38%
153,065
-17,150
-10% -$451K
GCH
11
DELISTED
Aberdeen Greater China Fund
GCH
$3.88M 2.35%
287,593
-25,307
-8% -$336K
EGIF
12
DELISTED
Eagle Growth and Income Opportunities Fund
EGIF
$3.73M 2.26%
247,900
-25,900
-9% -$413K
PEO
13
Adams Natural Resources Fund
PEO
$755M
$3.69M 2.24%
210,636
-167,500
-44% -$3.12M
CAF
14
Morgan Stanley China A Share Fund
CAF
$338M
$3.39M 2.05%
136,036
-113,160
-45% -$2.87M
NUM
15
DELISTED
Nuveen Michigan Quality Municipal Income Fund
NUM
$3.27M 1.98%
258,243
+17,117
+7% +$221K
ABE
16
DELISTED
Aberdeen Emerging Markets Smaller Company Opportunities Fund
ABE
$3.2M 1.94%
216,223
-10,976
-5% -$166K
TDF
17
Templeton Dragon Fund
TDF
$268M
$3.11M 1.89%
140,030
-13,956
-9% -$318K
LDF
18
DELISTED
Latin American Discovery Fund
LDF
$2.83M 1.71%
230,643
-12,992
-5% -$161K
LAQ
19
DELISTED
Aberdeen Latin America Equity Fund
LAQ
$2.7M 1.64%
98,737
-1,900
-2% -$53.7K
STEW
20
SRH Total Return Fund
STEW
$1.74B
$2.16M 1.31%
200,416
-1,146,077
-85% -$12.8M
APB
21
DELISTED
Asia Pacific Fund
APB
$2.11M 1.28%
142,440
-13,880
-9% -$204K
ADX icon
22
Adams Diversified Equity Fund
ADX
$3.18B
$2.09M 1.27%
141,372
-73,308
-34% -$1.13M
EVJ
23
DELISTED
Eaton Vance New Jersey Municipal Income Trust
EVJ
$2.08M 1.26%
186,362
+40,400
+28% +$460K
GAM
24
General American Investors Company
GAM
$1.53B
$2.06M 1.25%
61,495
-129,100
-68% -$4.48M
SGF
25
DELISTED
Aberdeen Singapore Fund
SGF
$1.97M 1.19%
148,199
– –
1
2 3 4 5

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Matisse Capital's Q1 2018 Portfolio in Review

As of Q1 2018, Matisse Capital held 141 positions worth $165M, down 25% from $219M the previous quarter. Its ten largest holdings account for 32% of the portfolio.

Matisse Capital withdrew a net $51.3M in Q1 2018, closing 12 positions and reducing 74 holdings. Its most notable exit was Thai Fund, an estimated $4.6M position sold in full.

By sector, the portfolio is most concentrated in Real Estate at 3.7% of assets, up from 3.5% a quarter earlier, followed by Technology and Healthcare.

Against the trend, Matisse Capital opened a new position in First Trust Strategic High worth $1.13M.

  • Matisse Capital's largest Q1 2018 buy was First Trust Strategic High: 92,828 shares worth $1.13M.
  • Matisse Capital added most to GDL Fund in Q1 2018, an estimated $2.55M increase.
  • Matisse Capital's biggest Q1 2018 reduction was SRH Total Return Fund, cutting an estimated $12.8M.
  • Matisse Capital fully exited Thai Fund in Q1 2018, selling an estimated $4.6M.
  • Matisse Capital's ten largest holdings make up 32% of its $165M portfolio in Q1 2018.
  • Matisse Capital opened 9 new positions and closed 12 in Q1 2018.
  • Matisse Capital's portfolio value fell 25% quarter-over-quarter to $165M.

Based on Matisse Capital's 13F filing for Q1 2018, filed 30 Apr 2018.