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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
CAF
1
Morgan Stanley China A Share Fund
CAF
$334M
$11.8M 4.73%
559,149
+95,000
+20% +$2.04M
ADX icon
2
Adams Diversified Equity Fund
ADX
$3.17B
$10.6M 4.24%
653,830
– –
HFRO
3
Highland Opportunities and Income Fund
HFRO
$407M
$9.83M 3.94%
1,144,100
-351,400
-23% -$2.96M
EDD
4
Morgan Stanley Emerging Markets Domestic Debt Fund
EDD
$372M
$8.95M 3.58%
1,609,100
-197,644
-11% -$1.14M
CET
5
Central Securities Corp
CET
$1.54B
$8.61M 3.45%
297,040
+57,681
+24% +$1.68M
ASA
6
ASA Gold and Precious Metals
ASA
$948M
$7.53M 3.02%
353,947
-20,000
-5% -$440K
NXDT
7
NexPoint Diversified Real Estate Trust
NXDT
$281M
$7.43M 2.97%
857,667
-18,733
-2% -$180K
HQL
8
abrdn Life Sciences Investors
HQL
$585M
$5.61M 2.25%
319,311
-2,957
-0.9% -$53K
GAM
9
General American Investors Company
GAM
$1.54B
$5.32M 2.13%
156,585
-7,539
-5% -$255K
DGRO icon
10
iShares Core Dividend Growth ETF
DGRO
$42.6B
$5.14M 2.06%
129,298
-312
-0.2% -$12.4K
KMF
11
DELISTED
Kayne Anderson NextGen Energy & Infrastructure, Inc.
KMF
$4.97M 1.99%
1,232,602
-11,300
-0.9% -$50.5K
IIF
12
Morgan Stanley India Investment Fund
IIF
$210M
$4.9M 1.96%
282,625
-96,427
-25% -$1.65M
GLQ
13
Clough Global Equity Fund
GLQ
$154M
$4.44M 1.78%
396,000
-2,700
-0.7% -$31K
HGLB
14
Highland Global Allocation Fund
HGLB
$173M
$4.34M 1.74%
699,600
-35,100
-5% -$226K
STEW
15
SRH Total Return Fund
STEW
$1.75B
$4.16M 1.67%
416,118
-24,900
-6% -$249K
VTA
16
DELISTED
INVESCO DYNAMIC CREDIT OPPORTUNITIES FUND
VTA
$4.06M 1.63%
441,000
-389,600
-47% -$3.54M
CPZ
17
Calamos Long/Short Equity & Dynamic Income Trust
CPZ
$253M
$4.06M 1.63%
279,268
– –
IGD
18
Voya Global Equity Dividend and Premium Opportunity Fund
IGD
$503M
$4.01M 1.6%
809,200
+448,723
+124% +$2.23M
IGA
19
Voya Global Advantage and Premium Opportunity Fund
IGA
$154M
$3.88M 1.55%
464,610
+137,136
+42% +$1.14M
BCX icon
20
BlackRock Resources & Commodities Strategy Trust
BCX
$899M
$3.65M 1.46%
612,969
-12,800
-2% -$81.1K
MSFT icon
21
Microsoft
MSFT
$2.84T
$3.6M 1.44%
17,117
-135
-0.8% -$28.4K
HQH
22
abrdn Healthcare Investors
HQH
$1.23B
$3.55M 1.42%
172,241
-5,500
-3% -$116K
FAX
23
abrdn Asia-Pacific Income Fund
FAX
$590M
$3.53M 1.41%
147,292
-319,969
-68% -$7.71M
TEAF
24
DELISTED
Ecofin Sustainable & Social Impact Term Fund
TEAF
$3.5M 1.4%
331,170
– –
PDX
25
PIMCO Dynamic Income Strategy Fund
PDX
$957M
$3.5M 1.4%
564,558
– –
1
2 3 4 5

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HWMT
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ECA
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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.