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Matisse Capital Portfolio holdings

AUM $250M
1-Year Est. Return 26.81%
This Fund
S&P 500
This Quarter Est. Return
-1.21%
1 Year Est. Return
+26.81%
3 Year Est. Return
+66.92%
5 Year Est. Return
+54.03%
10 Year Est. Return
+176.52%
AUM
$126M
AUM Growth
-$38.6M
Cap. Flow
-$36.3M
Cap. Flow %
-28.71%
Top 10 Hldgs %
36.05%
Holding
144
New
15
Increased
15
Reduced
65
Closed
23

Top Buys

Rank Stock Value
1
AEF
abrdn Emerging Markets Equity Income Fund
AEF
+$5.18M
2
NXDT
NexPoint Diversified Real Estate Trust
NXDT
+$3.32M
3
NKG
Nuveen Georgia Quality Municipal Income Fund
NKG
+$1.98M
4
EVM
Eaton Vance California Municipal Bond Fund
EVM
+$1.67M
5
BFY
BlackRock New York Municipal Income Trust II
BFY
+$1.33M

Top Sells

Rank Stock Value
1
NTC
Nuveen Connecticut Quality Municipal Income Fund
NTC
+$4.72M
2
GCH
Aberdeen Greater China Fund
GCH
+$3.88M
3
ABE
Aberdeen Emerging Markets Smaller Company Opportunities Fund
ABE
+$3.2M
4
LAQ
Aberdeen Latin America Equity Fund
LAQ
+$2.7M
5
CAF
Morgan Stanley China A Share Fund
CAF
+$2.48M

Sector Composition

Rank Sector Weight
1 Miscellaneous 77.61%
2 Real Estate 4.53%
3 Healthcare 4.33%
4 Technology 3.65%
5 Consumer Discretionary 2.98%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
SEVN
1
Seven Hills Realty Trust
SEVN
$171M
$5.73M 4.53%
313,475
-53,615
-15% -$927K
AEF
2
abrdn Emerging Markets Equity Income Fund
AEF
$399M
$5.52M 4.37%
788,631
+602,599
+324% +$5.18M
CET
3
Central Securities Corp
CET
$1.62B
$5.16M 4.08%
185,174
-64,968
-26% -$1.79M
GDL
4
GDL Fund
GDL
$92M
$4.83M 3.82%
526,570
-79,174
-13% -$738K
NXJ
5
DELISTED
Nuveen New Jersey Quality Municipal Income Fund
NXJ
$4.74M 3.75%
363,488
-74,365
-17% -$968K
DNI
6
DELISTED
Dividend and Income Fund
DNI
$4.62M 3.65%
374,607
-48,651
-11% -$605K
MSF
7
DELISTED
Morgan Stanley Emerging Mkts Fd
MSF
$4.24M 3.35%
261,203
-30,784
-11% -$531K
MXF
8
Mexico Fund
MXF
$311M
$3.88M 3.07%
256,572
-33,606
-12% -$517K
CHN
9
DELISTED
China Fund
CHN
$3.5M 2.77%
167,592
-27,305
-14% -$594K
EGIF
10
DELISTED
Eagle Growth and Income Opportunities Fund
EGIF
$3.34M 2.64%
217,400
-30,500
-12% -$466K
NXDT
11
NexPoint Diversified Real Estate Trust
NXDT
$290M
$3.18M 2.51%
+144,833
New +$3.32M
NUM
12
DELISTED
Nuveen Michigan Quality Municipal Income Fund
NUM
$2.91M 2.3%
229,821
-28,422
-11% -$359K
CEE
13
Central and Eastern Europe Fund
CEE
$132M
$2.77M 2.19%
119,613
-33,452
-22% -$803K
EVM
14
DELISTED
Eaton Vance California Municipal Bond Fund
EVM
$2.65M 2.09%
256,044
+162,171
+173% +$1.67M
TDF
15
Templeton Dragon Fund
TDF
$268M
$2.54M 2.01%
119,249
-20,781
-15% -$461K
PEO
16
Adams Natural Resources Fund
PEO
$810M
$2.1M 1.66%
108,876
-101,760
-48% -$1.94M
LDF
17
DELISTED
Latin American Discovery Fund
LDF
$2.1M 1.66%
218,527
-12,116
-5% -$131K
NKG
18
DELISTED
Nuveen Georgia Quality Municipal Income Fund
NKG
$1.98M 1.56%
+174,214
New +$1.98M
EVJ
19
DELISTED
Eaton Vance New Jersey Municipal Income Trust
EVJ
$1.87M 1.48%
165,987
-20,375
-11% -$228K
USB icon
20
US Bancorp
USB
$98.7B
$1.84M 1.45%
36,766
– –
APB
21
DELISTED
Asia Pacific Fund
APB
$1.73M 1.36%
124,669
-17,771
-12% -$255K
CEV
22
Eaton Vance California Municipal Income Trust
CEV
$72.9M
$1.5M 1.18%
130,409
-28,268
-18% -$323K
WVE icon
23
Wave Life Sciences
WVE
$958M
$1.42M 1.13%
37,234
+1,200
+3% +$51.7K
MSFT icon
24
Microsoft
MSFT
$3.71T
$1.4M 1.11%
14,184
+1
+0% +$97
AAPL icon
25
Apple
AAPL
$4.67T
$1.32M 1.05%
28,636
– –
1
2 3 4 5

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Matisse Capital's Q2 2018 Portfolio in Review

As of Q2 2018, Matisse Capital held 144 positions worth $126M, down 23% from $165M the previous quarter. Its ten largest holdings account for 36% of the portfolio.

Matisse Capital withdrew a net $36.3M in Q2 2018, closing 23 positions and reducing 65 holdings. Its most notable exit was Aberdeen Greater China Fund, an estimated $3.88M position sold in full.

By sector, the portfolio is most concentrated in Miscellaneous at 78% of assets, down from 83% a quarter earlier, followed by Real Estate and Healthcare.

Against the trend, Matisse Capital opened a new position in NexPoint Diversified Real Estate Trust worth $3.18M.

  • Matisse Capital's largest Q2 2018 buy was NexPoint Diversified Real Estate Trust: 144,833 shares worth $3.18M.
  • Matisse Capital added most to abrdn Emerging Markets Equity Income Fund in Q2 2018, an estimated $5.18M increase.
  • Matisse Capital's biggest Q2 2018 reduction was Nuveen Connecticut Quality Municipal Income Fund, cutting an estimated $4.72M.
  • Matisse Capital fully exited Aberdeen Greater China Fund in Q2 2018, selling an estimated $3.88M.
  • Matisse Capital's ten largest holdings make up 36% of its $126M portfolio in Q2 2018.
  • Matisse Capital opened 15 new positions and closed 23 in Q2 2018.
  • Matisse Capital's portfolio value fell 23% quarter-over-quarter to $126M.

Based on Matisse Capital's 13F filing for Q2 2018, filed 13 Jul 2018.