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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
+8.39%
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
$222M
AUM Growth
+$10.6M
Cap. Flow
-$3.68M
Cap. Flow %
-1.66%
Top 10 Hldgs %
26.68%
Holding
183
New
15
Increased
32
Reduced
32
Closed
19

Top Buys

Rank Stock Value
1
PCQ
Pimco California Municipal Income Fund
PCQ
+$6.49M
2
BTX
BlackRock Technology and Private Equity Term Trust
BTX
+$3.94M
3
SWZ
Swiss Helvetia Fund
SWZ
+$3.73M
4
XFLT
XAI Floating Rate & Alternative Income Trust
XFLT
+$1.45M
5
GEV icon
GE Vernova
GEV
+$801K

Top Sells

Rank Stock Value
1
PZC
PIMCO California Municipal Income Fund III
PZC
+$2.36M
2
PCK
Pimco California Municipal Income Fund II
PCK
+$1.92M
3
EDD
Morgan Stanley Emerging Markets Domestic Debt Fund
EDD
+$1.82M
4
PNI
PIMCO New York Municipal Income Fund II
PNI
+$1.73M
5
PNF
PIMCO New York Municipal Income Fund
PNF
+$1.65M

Sector Composition

Rank Sector Weight
1 Technology 12.97%
2 Industrials 4.58%
3 Healthcare 4.17%
4 Financials 3.88%
5 Communication Services 2.95%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
AAPL icon
1
Apple
AAPL
$4.72T
$9.78M 4.4%
38,426
-755
-2% -$171K
PCQ
2
Pimco California Municipal Income Fund
PCQ
$163M
$8.03M 3.61%
920,318
+769,012
+508% +$6.49M
MSFT icon
3
Microsoft
MSFT
$2.83T
$7.67M 3.45%
14,811
-712
-5% -$363K
DGRO icon
4
iShares Core Dividend Growth ETF
DGRO
$42.2B
$7.66M 3.45%
112,476
-2,657
-2% -$176K
ASND icon
5
Ascendis Pharma A/S
ASND
$16.6B
$5.17M 2.33%
26,020
-1,922
-7% -$358K
TWN
6
Taiwan Fund
TWN
$495M
$4.55M 2.05%
84,000
– –
CHN
7
DELISTED
China Fund
CHN
$4.49M 2.02%
243,000
– –
MXF
8
Mexico Fund
MXF
$305M
$4.04M 1.82%
205,000
– –
TDF
9
Templeton Dragon Fund
TDF
$268M
$3.98M 1.79%
342,000
– –
HFRO
10
Highland Opportunities and Income Fund
HFRO
$400M
$3.92M 1.76%
617,000
– –
CAF
11
Morgan Stanley China A Share Fund
CAF
$338M
$3.88M 1.75%
233,000
– –
BTX
12
BlackRock Technology and Private Equity Term Trust
BTX
$973M
$3.69M 1.66%
+551,000
New +$3.94M
SWZ
13
Swiss Helvetia Fund
SWZ
$76M
$3.69M 1.66%
+607,000
New +$3.73M
GOOGL icon
14
Alphabet (Google) Class A
GOOGL
$3.88T
$3.6M 1.62%
14,814
+38
+0.3% +$7.96K
HGLB
15
Highland Global Allocation Fund
HGLB
$174M
$3.57M 1.61%
393,000
– –
DMA
16
Destra Multi-Alternative Fund
DMA
$69.1M
$3.52M 1.58%
407,000
– –
NXDT
17
NexPoint Diversified Real Estate Trust
NXDT
$280M
$3.49M 1.57%
944,847
+124,947
+15% +$532K
CET
18
Central Securities Corp
CET
$1.55B
$3.34M 1.5%
65,000
– –
LRCX icon
19
Lam Research
LRCX
$400B
$3.31M 1.49%
24,730
+60
+0.2% +$6.35K
STEW
20
SRH Total Return Fund
STEW
$1.74B
$3.27M 1.47%
180,000
– –
RGT
21
Royce Global Value Trust
RGT
$95.4M
$3.2M 1.44%
246,790
+30,321
+14% +$380K
DMB
22
BNY Mellon Municipal Bond Infrastructure Fund
DMB
$198M
$2.98M 1.34%
278,812
-32,186
-10% -$328K
VBK icon
23
Vanguard Small-Cap Growth ETF
VBK
$23.4B
$2.84M 1.28%
9,554
– –
MXE
24
Mexico Equity and Income Fund
MXE
$58.1M
$2.82M 1.27%
237,827
– –
GLO
25
Clough Global Opportunities Fund
GLO
$247M
$2.79M 1.26%
490,128
– –
1
2 3 4 5

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Matisse Capital's Q3 2025 Portfolio in Review

As of Q3 2025, Matisse Capital held 183 positions worth $222M, up 5% from $212M the previous quarter. Its ten largest holdings account for 27% of the portfolio.

Matisse Capital's Q3 2025 filing shows 15 new, 32 increased, 32 reduced and 19 closed positions. Its largest new stake was BlackRock Technology and Private Equity Term Trust: 551,000 shares worth $3.69M. The largest sale was PIMCO California Municipal Income Fund III, an estimated $2.36M.

By sector, the portfolio is most concentrated in Technology at 13% of assets, up from 12% a quarter earlier, followed by Industrials and Healthcare.

  • Matisse Capital's largest Q3 2025 buy was BlackRock Technology and Private Equity Term Trust: 551,000 shares worth $3.69M.
  • Matisse Capital added most to Pimco California Municipal Income Fund in Q3 2025, an estimated $6.49M increase.
  • Matisse Capital's biggest Q3 2025 reduction was SoFi Technologies, cutting an estimated $1.46M.
  • Matisse Capital fully exited PIMCO California Municipal Income Fund III in Q3 2025, selling an estimated $2.36M.
  • Matisse Capital's ten largest holdings make up 27% of its $222M portfolio in Q3 2025.
  • Matisse Capital opened 15 new positions and closed 19 in Q3 2025.
  • Matisse Capital's portfolio value rose 5% quarter-over-quarter to $222M.

Based on Matisse Capital's 13F filing for Q3 2025, filed 29 Oct 2025.