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Livermore
Livermore
ZHEN

Matisse Capital

SEC CIK
0001668256
Latest filing
Aug 12, 2026

Holdings in Q2 2025

Holdings as of Jun 30, 2025, filed Jul 23, 2025. Long positions only; changes compare share counts with Q1 2025.

Institution overview
Positions
168
+3 vs. Q1 2025
Portfolio value
$211.5M
+$21.9M (+11.6%) vs. Q1 2025
Filed
Jul 23, 2025
SEC
Holdings of Matisse Capital in Q2 2025
SecurityClassSharesValue% of portfolioShare changeActionHistory
AAPLApple Inc.Stock39,181$8.04M3.8%−479−1.2%ReducedHistory
MSFTMicrosoft CorpStock15,523$7.72M3.7%−1,443−8.5%ReducedHistory
iShares Core Dividend Growth ETF46434V621ETF115,133$7.36M3.5%+69+0.1%Added–
ASNDAscendis Pharma A/SSPONSORED ADR27,942$4.82M2.3%−1,732−5.8%ReducedHistory
TWNTaiwan Fund IncCOM84,000$3.76M1.8%+9,000+12.0%AddedHistory
CHNChina Fund, Inc.COM243,000$3.62M1.7%+138,095+131.6%AddedHistory
MXFMexico Fund IncCOM205,000$3.60M1.7%00.0%UnchangedHistory
DMADestra Multi-Alternative FundCOMMON SHARES407,000$3.56M1.7%+11,693+3.0%AddedHistory
NXDTNexpoint Diversified Real Estate TrustCOM NEW819,900$3.44M1.6%+153,983+23.1%AddedHistory
HGLBHighland Global Allocation FundCOM393,000$3.42M1.6%00.0%UnchangedHistory
TDFTempleton Dragon Fund IncCOM342,000$3.42M1.6%00.0%UnchangedHistory
SFMSprouts Farmers Market, Inc.COM20,042$3.30M1.6%−626−3.0%ReducedHistory
CAFMorgan Stanley China A Share Fund, Inc.COM233,000$3.21M1.5%00.0%UnchangedHistory
HFROHighland Opportunities & Income FundHIGHLAND INCOME617,000$3.21M1.5%+33,613+5.8%AddedHistory
STEWSRH Total Return Fund, Inc.COM180,000$3.18M1.5%00.0%UnchangedHistory
DMBBNY Mellon Municipal Bond Infrastructure Fund, Inc.COM SHS310,998$3.18M1.5%−3,247−1.0%ReducedHistory
CETCentral Securities CorpCOM65,000$3.11M1.5%+5,000+8.3%AddedHistory
AMZNAmazon Com IncStock13,395$2.94M1.4%+290+2.2%AddedHistory
KYNKayne Anderson Energy Infrastructure Fund, Inc.COM222,839$2.83M1.3%+222,839NewHistory
TEAFTortoise Sustainable & Social Impact Term FundClosed-End Fund227,000$2.78M1.3%00.0%UnchangedHistory
GLOClough Global Opportunities FundSH BEN INT490,128$2.66M1.3%−13,074−2.6%ReducedHistory
Vanguard Morningstar Small-Cap Growth ETF922908595ETF9,554$2.65M1.3%00.0%Unchanged–
RGTRoyce Global Trust, Inc.COM216,469$2.60M1.2%+183,527+557.1%AddedHistory
GOOGLAlphabet Inc.Stock14,776$2.60M1.2%−603−3.9%ReducedHistory
Vanguard Intermediate-Term Bond ETF921937819ETF32,732$2.53M1.2%00.0%Unchanged–
MXEMexico Equity & Income Fund IncCOM237,827$2.49M1.2%00.0%UnchangedHistory
METAMeta Platforms, Inc.Stock3,291$2.43M1.1%00.0%UnchangedHistory
LRCXLam Research CorpStock24,670$2.40M1.1%−4,500−15.4%ReducedHistory
PZCPIMCO California Municipal Income Fund IIICOM379,553$2.36M1.1%+364,720+2,458.8%AddedHistory
KFKorea Fund IncCOM NEW82,265$2.22M1.0%+60,555+278.9%AddedHistory
BTTBlackRock Municipal 2030 Target Term TrustCOM SHS BEN IN100,739$2.21M1.0%00.0%UnchangedHistory
Vanguard Morningstar Small-Cap Value ETF922908611ETF10,652$2.08M1.0%00.0%Unchanged–
WIWWestern Asset Inflation-Linked Opportunities & Income FundCEF230,000$2.01M1.0%−533−0.2%ReducedHistory
EEAEuropean Equity Fund, IncCOM188,070$1.92M0.9%00.0%UnchangedHistory
PCKPIMCO California Municipal Income Fund IICOM358,504$1.92M0.9%00.0%UnchangedHistory
NBXGNeuberger Next Generation Connectivity Fund Inc.COMMON STOCK129,790$1.89M0.9%00.0%UnchangedHistory
COSTCostco Wholesale CorpStock1,913$1.89M0.9%+107+5.9%AddedHistory
ETNEaton Corp plcStock5,145$1.84M0.9%00.0%UnchangedHistory
EDDMorgan Stanley Emerging Markets Domestic Debt Fund, Inc.COM355,711$1.82M0.9%−5,710−1.6%ReducedHistory
PNIPIMCO New York Municipal Income Fund IICOM257,835$1.73M0.8%+7,835+3.1%AddedHistory
PNFPIMCO New York Municipal Income FundCOM236,000$1.65M0.8%+6,000+2.6%AddedHistory
PMOFranklin Municipal Opportunities TrustSH BEN INT166,367$1.65M0.8%00.0%UnchangedHistory
VFLabrdn National Municipal Income FundCEF170,000$1.64M0.8%00.0%UnchangedHistory
LEOBNY Mellon Strategic Municipals, Inc.COM273,100$1.62M0.8%00.0%UnchangedHistory
PFOFlaherty & Crumrine PREFERRED & INCOME OPPORTUNITY FUND INCCOM170,775$1.58M0.7%00.0%UnchangedHistory
PFDFlaherty & Crumrine Preferred & Income Fund IncCOM134,805$1.52M0.7%00.0%UnchangedHistory
Dimensional ETF Trust25434V781INTL SMALL CAP V44,100$1.45M0.7%00.0%Unchanged–
ACMAecomCOM12,611$1.42M0.7%00.0%UnchangedHistory
SOFISoFi Technologies, Inc.Stock75,310$1.37M0.6%−5,735−7.1%ReducedHistory
FMNFederated Hermes Premier Municipal Income FundCOM128,815$1.37M0.6%+128,815NewHistory
GLVClough Global Dividend & Income FundCOM241,195$1.37M0.6%−400−0.2%ReducedHistory
NVDANVIDIA CorpStock8,649$1.37M0.6%+1,282+17.4%AddedHistory
JPMJPMorgan Chase & CoStock4,631$1.34M0.6%00.0%UnchangedHistory
NBHNeuberger Municipal Fund Inc.COM135,900$1.34M0.6%00.0%UnchangedHistory
iShares Tr464288281JPMORGAN USD EMG14,300$1.32M0.6%00.0%Unchanged–
PCQPIMCO California Municipal Income FundCOM151,306$1.30M0.6%+77,854+106.0%AddedHistory
FLCFlaherty & Crumrine Total Return Fund IncCOM76,304$1.30M0.6%00.0%UnchangedHistory
VVisa Inc.Stock3,638$1.29M0.6%00.0%UnchangedHistory
OPPRiverNorth/DoubleLine Strategic Opportunity Fund, Inc.COM150,538$1.29M0.6%−37,475−19.9%ReducedHistory
BWGBrandywineGLOBAL-Global Income Opportunities Fund IncCOM149,900$1.25M0.6%00.0%UnchangedHistory
BRK.BBerkshire Hathaway IncStock2,483$1.21M0.6%+807+48.2%AddedHistory
Dimensional ETF Trust25434V740EMERGING MKTS VA39,760$1.19M0.6%00.0%Unchanged–
PRCTPROCEPT BioRobotics CorpCOM20,360$1.17M0.6%+2,040+11.1%AddedHistory
XOMExxonMobil Holdings CorpCOM10,534$1.14M0.5%00.0%UnchangedHistory
iShares Tr464287234MSCI EMG MKT ETF22,990$1.11M0.5%00.0%Unchanged–
MUJBlackRock Muniholdings New Jersey Quality Fund, Inc.COM100,700$1.10M0.5%00.0%UnchangedHistory
SCHWSchwab Charles CorpStock12,010$1.10M0.5%−1,260−9.5%ReducedHistory
WMTWalmart Inc.Stock10,617$1.04M0.5%00.0%UnchangedHistory
JCIJohnson Controls International plcStock9,705$1.03M0.5%00.0%UnchangedHistory
SPRYARS Pharmaceuticals, Inc.COM56,714$989.7K0.5%+1,000+1.8%AddedHistory
BLKBlackRock, Inc.Stock940$986.3K0.5%−3−0.3%ReducedHistory
VRNAVerona Pharma plcSPONSORED ADS10,294$973.6K0.5%−3,500−25.4%ReducedHistory
TSCOTractor Supply CoCOM18,290$965.2K0.5%00.0%UnchangedHistory
GGZGabelli Global Small & Mid Cap Value TrustCOM71,849$957.0K0.5%00.0%UnchangedHistory
NTAPNetApp, Inc.Stock8,699$926.9K0.4%00.0%UnchangedHistory
ELVElevance Health, Inc.Stock2,350$914.1K0.4%00.0%UnchangedHistory
BABoeing CoStock4,227$885.7K0.4%+4,227NewHistory
CMUMFS High Yield Municipal TrustSH BEN INT262,208$873.2K0.4%00.0%UnchangedHistory
TSMTaiwan Semiconductor Manufacturing Co LtdADR3,607$816.9K0.4%+46+1.3%AddedHistory
STESTERIS plcSHS USD3,397$816.0K0.4%00.0%UnchangedHistory
MUCBlackRock Muniholdings California Quality Fund, Inc.CEF78,600$813.5K0.4%00.0%UnchangedHistory
ADIAnalog Devices IncStock3,406$810.7K0.4%−10−0.3%ReducedHistory
PYNPIMCO New York Municipal Income Fund IIICOM147,857$774.8K0.4%+4,255+3.0%AddedHistory
QCOMQualcomm IncStock4,727$752.8K0.4%00.0%UnchangedHistory
Vanguard Financials ETF92204A405ETF5,871$747.4K0.4%00.0%Unchanged–
MAMastercard IncStock1,329$746.8K0.4%00.0%UnchangedHistory
iShares Tr46435G326CORE MSCI INTL9,632$732.4K0.3%−82−0.8%Reduced–
AEFabrdn Emerging Markets ex-China Fund, Inc.COM116,975$694.8K0.3%00.0%UnchangedHistory
Vanguard Ftse Developed Markets ETF921943858ETF12,113$690.6K0.3%00.0%Unchanged–
LOWLowes Companies IncStock3,098$687.4K0.3%00.0%UnchangedHistory
NKENIKE, Inc.Stock9,650$685.5K0.3%−410−4.1%ReducedHistory
BlackRock New York Municipal Income Trust09248L106SH BEN INT69,921$676.1K0.3%00.0%Unchanged–
Vanguard S&P 500 ETF922908363ETF1,183$672.1K0.3%−34−2.8%Reduced–
IBKRInteractive Brokers Group, Inc.Stock12,000$664.9K0.3%+4,000+50.0%AddedConverted for a 4-for-1 splitHistory
CXHMFS Investment Grade Municipal TrustSH BEN INT86,381$660.0K0.3%00.0%UnchangedHistory
DEDeere & CoStock1,280$650.9K0.3%00.0%UnchangedHistory
EMFTempleton Emerging Markets FundCOM44,430$648.2K0.3%00.0%UnchangedHistory
FDXFedEx CorpStock2,843$646.2K0.3%00.0%UnchangedHistory
WisdomTree Tr97717W281EMG MKTS SMCAP11,518$636.3K0.3%00.0%Unchanged–
VanEck ETF Trust92189H300JP MRGAN EM LOC24,900$631.2K0.3%00.0%Unchanged–

Sold out since Q1 2025 (8)

Positions held at the end of Q1 2025 that are gone from this filing.

Positions of Matisse Capital sold out since Q1 2025
SecurityClassShares in Q1 2025Value in Q1 2025% of portfolio in Q1 2025History
JOFJapan Smaller Capitalization Fund IncCOM362,000$3.04M1.6%History
RABrookfield Real Assets Income Fund Inc.SHS BEN INT115,000$1.51M0.8%History
MIYBlackRock Muniyield Michigan Quality Fund, Inc.COM110,749$1.26M0.7%History
IIFMorgan Stanley India Investment Fund, Inc.COM37,950$925.6K0.5%History
GRXGabelli Healthcare & WellnessRx TrustSHS87,125$878.2K0.5%History
EMOClearBridge Energy Midstream Opportunity Fund Inc.COM14,835$736.1K0.4%History
VGIVirtus Global Multi-Sector Income FundCOM71,295$551.6K0.3%History
EODAllspring Global Dividend Opportunity FundCOM27,511$136.2K0.1%History