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Livermore
Livermore
ZHEN

Matisse Capital

SEC CIK
0001668256
Latest filing
Aug 12, 2026

Holdings in Q3 2025

Holdings as of Sep 30, 2025, filed Oct 29, 2025. Long positions only; changes compare share counts with Q2 2025.

Institution overview
Positions
164
−4 vs. Q2 2025
Portfolio value
$222.2M
+$10.6M (+5.0%) vs. Q2 2025
Filed
Oct 29, 2025
SEC
Holdings of Matisse Capital in Q3 2025
SecurityClassSharesValue% of portfolioShare changeActionHistory
AAPLApple Inc.Stock38,426$9.78M4.4%−755−1.9%ReducedHistory
PCQPIMCO California Municipal Income FundCOM920,318$8.03M3.6%+769,012+508.2%AddedHistory
MSFTMicrosoft CorpStock14,811$7.67M3.5%−712−4.6%ReducedHistory
iShares Core Dividend Growth ETF46434V621ETF112,476$7.66M3.4%−2,657−2.3%Reduced–
ASNDAscendis Pharma A/SSPONSORED ADR26,020$5.17M2.3%−1,922−6.9%ReducedHistory
TWNTaiwan Fund IncCOM84,000$4.55M2.0%00.0%UnchangedHistory
CHNChina Fund, Inc.COM243,000$4.49M2.0%00.0%UnchangedHistory
MXFMexico Fund IncCOM205,000$4.04M1.8%00.0%UnchangedHistory
TDFTempleton Dragon Fund IncCOM342,000$3.98M1.8%00.0%UnchangedHistory
HFROHighland Opportunities & Income FundHIGHLAND INCOME617,000$3.92M1.8%00.0%UnchangedHistory
CAFMorgan Stanley China A Share Fund, Inc.COM233,000$3.88M1.7%00.0%UnchangedHistory
BTXBlackRock Technology & Private Equity Term TrustSHS BEN INT551,000$3.69M1.7%+551,000NewHistory
SWZTotal Return Securities FundCOM607,000$3.69M1.7%+607,000NewHistory
GOOGLAlphabet Inc.Stock14,814$3.60M1.6%+38+0.3%AddedHistory
HGLBHighland Global Allocation FundCOM393,000$3.57M1.6%00.0%UnchangedHistory
DMADestra Multi-Alternative FundCOMMON SHARES407,000$3.52M1.6%00.0%UnchangedHistory
NXDTNexpoint Diversified Real Estate TrustCOM NEW944,847$3.49M1.6%+124,947+15.2%AddedHistory
CETCentral Securities CorpCOM65,000$3.34M1.5%00.0%UnchangedHistory
LRCXLam Research CorpStock24,730$3.31M1.5%+60+0.2%AddedHistory
STEWSRH Total Return Fund, Inc.COM180,000$3.27M1.5%00.0%UnchangedHistory
RGTRoyce Global Trust, Inc.COM246,790$3.20M1.4%+30,321+14.0%AddedHistory
DMBBNY Mellon Municipal Bond Infrastructure Fund, Inc.COM SHS278,812$2.98M1.3%−32,186−10.3%ReducedHistory
Vanguard Morningstar Small-Cap Growth ETF922908595ETF9,554$2.84M1.3%00.0%Unchanged–
MXEMexico Equity & Income Fund IncCOM237,827$2.82M1.3%00.0%UnchangedHistory
GLOClough Global Opportunities FundSH BEN INT490,128$2.79M1.3%00.0%UnchangedHistory
KYNKayne Anderson Energy Infrastructure Fund, Inc.COM222,839$2.76M1.2%00.0%UnchangedHistory
TEAFTortoise Sustainable & Social Impact Term FundClosed-End Fund227,000$2.67M1.2%00.0%UnchangedHistory
KFKorea Fund IncCOM NEW82,265$2.52M1.1%00.0%UnchangedHistory
Vanguard Intermediate-Term Bond ETF921937819ETF32,186$2.51M1.1%−546−1.7%Reduced–
METAMeta Platforms, Inc.Stock3,300$2.42M1.1%+9+0.3%AddedHistory
AMZNAmazon Com IncStock10,841$2.38M1.1%−2,554−19.1%ReducedHistory
BTTBlackRock Municipal 2030 Target Term TrustCOM SHS BEN IN100,739$2.26M1.0%00.0%UnchangedHistory
Vanguard Morningstar Small-Cap Value ETF922908611ETF10,652$2.22M1.0%00.0%Unchanged–
WIWWestern Asset Inflation-Linked Opportunities & Income FundCEF230,000$2.04M0.9%00.0%UnchangedHistory
EEAEuropean Equity Fund, IncCOM188,070$2.04M0.9%00.0%UnchangedHistory
NBXGNeuberger Next Generation Connectivity Fund Inc.COMMON STOCK129,790$2.00M0.9%00.0%UnchangedHistory
ETNEaton Corp plcStock5,145$1.93M0.9%00.0%UnchangedHistory
COSTCostco Wholesale CorpStock1,900$1.76M0.8%−13−0.7%ReducedHistory
SFMSprouts Farmers Market, Inc.COM16,142$1.76M0.8%−3,900−19.5%ReducedHistory
VFLabrdn National Municipal Income FundCEF170,000$1.74M0.8%00.0%UnchangedHistory
PMOFranklin Municipal Opportunities TrustSH BEN INT166,367$1.72M0.8%00.0%UnchangedHistory
LEOBNY Mellon Strategic Municipals, Inc.COM273,100$1.71M0.8%00.0%UnchangedHistory
ACMAecomCOM12,611$1.65M0.7%00.0%UnchangedHistory
Dimensional ETF Trust25434V781INTL SMALL CAP V44,100$1.57M0.7%00.0%Unchanged–
NVDANVIDIA CorpStock8,355$1.56M0.7%−294−3.4%ReducedHistory
JPMJPMorgan Chase & CoStock4,631$1.46M0.7%00.0%UnchangedHistory
GLVClough Global Dividend & Income FundCOM241,195$1.44M0.6%00.0%UnchangedHistory
FMNFederated Hermes Premier Municipal Income FundCOM128,815$1.42M0.6%00.0%UnchangedHistory
NBHNeuberger Municipal Fund Inc.COM135,900$1.40M0.6%00.0%UnchangedHistory
XFLTXAI Floating Rate & Alternative Income TrustCOM262,527$1.39M0.6%+262,527NewHistory
iShares Tr464288281JPMORGAN USD EMG14,353$1.37M0.6%+53+0.4%Added–
BRK.BBerkshire Hathaway IncStock2,695$1.35M0.6%+212+8.5%AddedHistory
BWGBrandywineGLOBAL-Global Income Opportunities Fund IncCOM149,900$1.30M0.6%00.0%UnchangedHistory
Dimensional ETF Trust25434V740EMERGING MKTS VA39,760$1.27M0.6%00.0%Unchanged–
VVisa Inc.Stock3,641$1.24M0.6%+3+0.1%AddedHistory
iShares Tr464287234MSCI EMG MKT ETF22,990$1.23M0.6%00.0%Unchanged–
XOMExxonMobil Holdings CorpCOM10,474$1.18M0.5%−60−0.6%ReducedHistory
MUJBlackRock Muniholdings New Jersey Quality Fund, Inc.COM100,700$1.17M0.5%00.0%UnchangedHistory
BLKBlackRock, Inc.Stock940$1.10M0.5%00.0%UnchangedHistory
WMTWalmart Inc.Stock10,628$1.10M0.5%+11+0.1%AddedHistory
JCIJohnson Controls International plcStock9,705$1.07M0.5%00.0%UnchangedHistory
TSCOTractor Supply CoCOM18,315$1.04M0.5%+25+0.1%AddedHistory
GGZGabelli Global Small & Mid Cap Value TrustCOM71,849$1.04M0.5%00.0%UnchangedHistory
NTAPNetApp, Inc.Stock8,699$1.03M0.5%00.0%UnchangedHistory
TSMTaiwan Semiconductor Manufacturing Co LtdADR3,635$1.02M0.5%+28+0.8%AddedHistory
BABoeing CoStock4,327$933.9K0.4%+100+2.4%AddedHistory
SCHWSchwab Charles CorpStock9,625$918.9K0.4%−2,385−19.9%ReducedHistory
CMUMFS High Yield Municipal TrustSH BEN INT262,208$909.9K0.4%00.0%UnchangedHistory
MUCBlackRock Muniholdings California Quality Fund, Inc.CEF78,600$852.8K0.4%00.0%UnchangedHistory
IBKRInteractive Brokers Group, Inc.Stock12,300$846.4K0.4%+300+2.5%AddedHistory
STESTERIS plcSHS USD3,397$840.6K0.4%00.0%UnchangedHistory
PLTRPalantir Technologies Inc.Stock4,600$839.1K0.4%00.0%UnchangedHistory
ADIAnalog Devices IncStock3,406$836.9K0.4%00.0%UnchangedHistory
GEVGE Vernova Inc.Stock1,322$812.9K0.4%+1,322NewHistory
QCOMQualcomm IncStock4,727$786.4K0.4%00.0%UnchangedHistory
LOWLowes Companies IncStock3,103$779.8K0.4%+5+0.2%AddedHistory
iShares Tr46435G326CORE MSCI INTL9,632$772.2K0.3%00.0%Unchanged–
Vanguard Financials ETF92204A405ETF5,871$770.5K0.3%00.0%Unchanged–
MAMastercard IncStock1,348$766.8K0.3%+19+1.4%AddedHistory
EMFTempleton Emerging Markets FundCOM44,136$738.8K0.3%−294−0.7%ReducedHistory
ELVElevance Health, Inc.Stock2,250$727.0K0.3%−100−4.3%ReducedHistory
PRCTPROCEPT BioRobotics CorpCOM20,270$723.4K0.3%−90−0.4%ReducedHistory
BlackRock New York Municipal Income Trust09248L106SH BEN INT69,921$707.6K0.3%00.0%Unchanged–
Vanguard S&P 500 ETF922908363ETF1,131$692.8K0.3%−52−4.4%Reduced–
CXHMFS Investment Grade Municipal TrustSH BEN INT86,381$679.0K0.3%00.0%UnchangedHistory
NKENIKE, Inc.Stock9,650$672.9K0.3%00.0%UnchangedHistory
Vanguard Ftse Developed Markets ETF921943858ETF11,228$672.8K0.3%−885−7.3%Reduced–
FDXFedEx CorpStock2,800$660.3K0.3%−43−1.5%ReducedHistory
WisdomTree Tr97717W281EMG MKTS SMCAP11,518$657.7K0.3%00.0%Unchanged–
OKLOOklo Inc.COM CL A5,814$649.0K0.3%+5,814NewHistory
SPYSPDR S&P 500 ETF TrustETF966$643.2K0.3%+5+0.5%AddedHistory
RFMZRiverNorth Flexible Municipal Income Fund II, Inc.COM49,190$641.9K0.3%00.0%UnchangedHistory
VanEck ETF Trust92189H300JP MRGAN EM LOC24,900$635.2K0.3%00.0%Unchanged–
NTRNutrien Ltd.COM10,256$602.1K0.3%00.0%UnchangedHistory
iShares Future AI & Tech ETF46435U556ETF12,961$593.4K0.3%00.0%Unchanged–
DEDeere & CoStock1,279$584.8K0.3%−1−0.1%ReducedHistory
SPRYARS Pharmaceuticals, Inc.COM57,791$580.8K0.3%+1,077+1.9%AddedHistory
HDHome Depot, Inc.Stock1,432$580.2K0.3%+11+0.8%AddedHistory
LMTLockheed Martin CorpStock1,133$565.6K0.3%00.0%UnchangedHistory
IONQIonQ, Inc.COM9,188$565.1K0.3%+9,188NewHistory

Sold out since Q2 2025 (19)

Positions held at the end of Q2 2025 that are gone from this filing.

Positions of Matisse Capital sold out since Q2 2025
SecurityClassShares in Q2 2025Value in Q2 2025% of portfolio in Q2 2025History
PZCPIMCO California Municipal Income Fund IIICOM379,553$2.36M1.1%History
PCKPIMCO California Municipal Income Fund IICOM358,504$1.92M0.9%History
EDDMorgan Stanley Emerging Markets Domestic Debt Fund, Inc.COM355,711$1.82M0.9%History
PNIPIMCO New York Municipal Income Fund IICOM257,835$1.73M0.8%History
PNFPIMCO New York Municipal Income FundCOM236,000$1.65M0.8%History
PFOFlaherty & Crumrine PREFERRED & INCOME OPPORTUNITY FUND INCCOM170,775$1.58M0.7%History
PFDFlaherty & Crumrine Preferred & Income Fund IncCOM134,805$1.52M0.7%History
FLCFlaherty & Crumrine Total Return Fund IncCOM76,304$1.30M0.6%History
OPPRiverNorth/DoubleLine Strategic Opportunity Fund, Inc.COM150,538$1.29M0.6%History
VRNAVerona Pharma plcSPONSORED ADS10,294$973.6K0.5%History
PYNPIMCO New York Municipal Income Fund IIICOM147,857$774.8K0.4%History
PIMCO ETF Tr72201R88225YR+ ZERO U S8,700$583.5K0.3%–
LNCLincoln National CorpCOM13,500$467.1K0.2%History
EMDWestern Asset Emerging Markets Debt Fund Inc.COM45,659$458.9K0.2%History
FFCFlaherty & Crumrine PREFERRED & INCOME SECURITIES FUND INCCOM23,907$389.4K0.2%History
MMUWestern Asset Managed Municipals Fund Inc.COM29,650$293.5K0.1%History
IQIInvesco Quality Municipal Income TrustCOM28,545$267.8K0.1%History
BHVBlackRock Virginia Municipal Bond TrustCOM23,365$242.8K0.1%History
ISRGIntuitive Surgical IncCOM NEW423$229.9K0.1%History