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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
-27.7%
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
$254M
AUM Growth
+$113M
Cap. Flow
+$224M
Cap. Flow %
88.05%
Top 10 Hldgs %
26.58%
Holding
204
New
90
Increased
59
Reduced
20
Closed
22

Top Buys

Rank Stock Value
1
HFRO
Highland Opportunities and Income Fund
HFRO
+$12.3M
2
PDX
PIMCO Dynamic Income Strategy Fund
PDX
+$9.75M
3
CEM
ClearBridge MLP and Midstream Fund Inc.
CEM
+$9.47M
4
NXDT
NexPoint Diversified Real Estate Trust
NXDT
+$8.97M
5
EDD
Morgan Stanley Emerging Markets Domestic Debt Fund
EDD
+$8.71M

Top Sells

Rank Stock Value
1
MUC icon
BlackRock MuniHoldings California Quality Fund
MUC
+$5.93M
2
THOR
Synthorx, Inc. Common Stock
THOR
+$5.36M
3
MUI
BlackRock Municipal Income Fund, Inc.
MUI
+$4.02M
4
MUJ icon
BlackRock MuniHoldings New Jersey Quality Fund
MUJ
+$3.54M
5
BWG
BrandywineGLOBAL Global Income Opportunities Fund
BWG
+$2.53M

Sector Composition

Rank Sector Weight
1 Financials 2.48%
2 Technology 2.43%
3 Healthcare 2.21%
4 Real Estate 1.31%
5 Consumer Discretionary 1.13%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
HFRO
1
Highland Opportunities and Income Fund
HFRO
$400M
$12M 4.72%
1,405,200
+1,055,100
+301% +$12.3M
FAX
2
abrdn Asia-Pacific Income Fund
FAX
$590M
$8.81M 3.47%
434,562
+308,929
+246% +$7.55M
NXDT
3
NexPoint Diversified Real Estate Trust
NXDT
$281M
$7.17M 2.82%
868,183
+585,450
+207% +$8.97M
EDD
4
Morgan Stanley Emerging Markets Domestic Debt Fund
EDD
$372M
$7.05M 2.77%
+1,352,962
New +$8.71M
VTA
5
DELISTED
INVESCO DYNAMIC CREDIT OPPORTUNITIES FUND
VTA
$6.47M 2.55%
810,965
+425,298
+110% +$4.49M
RSF
6
RiverNorth Capital and Income Fund
RSF
$58.6M
$6.01M 2.37%
379,548
+286,930
+310% +$4.96M
HYD icon
7
VanEck High Yield Muni ETF
HYD
$4.44B
$5.44M 2.14%
+104,116
New +$6.41M
CCIF
8
Carlyle Credit Income Fund
CCIF
$56.4M
$5.33M 2.1%
635,500
+315,027
+98% +$3.23M
TEI
9
Templeton Emerging Markets Income Fund
TEI
$310M
$4.66M 1.84%
623,386
+406,008
+187% +$3.52M
ADX icon
10
Adams Diversified Equity Fund
ADX
$3.17B
$4.6M 1.81%
+365,049
New +$5.43M
PCEF icon
11
Invesco CEF Income Composite ETF
PCEF
$812M
$4.32M 1.7%
+246,733
New +$5.34M
VVR icon
12
Invesco Senior Income Trust
VVR
$456M
$4.24M 1.67%
1,316,992
+680,992
+107% +$2.7M
CET
13
Central Securities Corp
CET
$1.54B
$4.14M 1.63%
160,522
+143,792
+859% +$4.41M
DGRO icon
14
iShares Core Dividend Growth ETF
DGRO
$42.6B
$4.11M 1.62%
126,036
+32,800
+35% +$1.28M
ARDC
15
Are Dynamic Credit Allocation Fund
ARDC
$297M
$4.09M 1.61%
378,666
+272,070
+255% +$3.88M
CAF
16
Morgan Stanley China A Share Fund
CAF
$334M
$4M 1.58%
+220,948
New +$4.41M
PDX
17
PIMCO Dynamic Income Strategy Fund
PDX
$957M
$3.97M 1.56%
+739,297
New +$9.75M
CPZ
18
Calamos Long/Short Equity & Dynamic Income Trust
CPZ
$253M
$3.9M 1.54%
+270,268
New +$4.74M
WIW
19
Western Asset Inflation-Linked Opportunities & Income Fund
WIW
$510M
$3.84M 1.51%
402,057
+218,141
+119% +$2.43M
JSD
20
DELISTED
NUVEEN SHORT DURATION CREDIT OPPORTUNITIES FUND
JSD
$3.59M 1.41%
329,828
+162,040
+97% +$2.26M
NUO
21
DELISTED
Nuveen Ohio Quality Municipal Income Fund
NUO
$3.48M 1.37%
+236,303
New +$3.59M
TEAF
22
DELISTED
Ecofin Sustainable & Social Impact Term Fund
TEAF
$3.35M 1.32%
+331,170
New +$4.92M
SEVN
23
Seven Hills Realty Trust
SEVN
$179M
$3.32M 1.31%
327,073
+64,489
+25% +$1.17M
KMF
24
DELISTED
Kayne Anderson NextGen Energy & Infrastructure, Inc.
KMF
$3.27M 1.29%
981,112
+821,112
+513% +$6.79M
JRO
25
DELISTED
Nuveen Floating Rate Income Opportunty Fund
JRO
$3.26M 1.28%
439,289
– –
1
2 3 4 5

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Matisse Capital's Q1 2020 Portfolio in Review

As of Q1 2020, Matisse Capital held 204 positions worth $254M, up 80% from $141M the previous quarter. Its ten largest holdings account for 27% of the portfolio.

Matisse Capital deployed $224M of net new capital in Q1 2020, opening 90 new positions and adding to 59 existing holdings. Its largest new stake was PIMCO Dynamic Income Strategy Fund: 739,297 shares worth $3.97M.

By sector, the portfolio is most concentrated in Financials at 2.5% of assets, up from 2.2% a quarter earlier, followed by Technology and Healthcare.

On the sell side, the largest reduction was BrandywineGLOBAL Global Income Opportunities Fund, an estimated $2.53M trimmed.

  • Matisse Capital's largest Q1 2020 buy was PIMCO Dynamic Income Strategy Fund: 739,297 shares worth $3.97M.
  • Matisse Capital added most to Highland Opportunities and Income Fund in Q1 2020, an estimated $12.3M increase.
  • Matisse Capital's biggest Q1 2020 reduction was BrandywineGLOBAL Global Income Opportunities Fund, cutting an estimated $2.53M.
  • Matisse Capital fully exited BlackRock MuniHoldings California Quality Fund in Q1 2020, selling an estimated $5.93M.
  • Matisse Capital's ten largest holdings make up 27% of its $254M portfolio in Q1 2020.
  • Matisse Capital opened 90 new positions and closed 22 in Q1 2020.
  • Matisse Capital's portfolio value rose 80% quarter-over-quarter to $254M.

Based on Matisse Capital's 13F filing for Q1 2020, filed 7 May 2020.