13F HOLDINGS REPORT

Matisse Capital

Quarter ended Q3 2025 · Filed October 29, 2025 · Accession 0001668256-25-000014

Total Value

$222.2M

Positions

196

Other Managers

Confidential Omitted

View on SEC.gov

Holdings (196)

#	Issuer	Ticker / CUSIP	Shares	Value	% of Filing
1	APPLE INC	AAPL	38,426	$9.8M	4.40%
2	MICROSOFT CORP	MSFT	14,811	$7.7M	3.45%
3	ISHARES TR	46434V621	112,476	$7.7M	3.45%
4	PIMCO CALIF MUN INCOME FD	72200N106	766,318	$6.7M	3.01%
5	ASCENDIS PHARMA A/S	ASND	26,020	$5.2M	2.33%
6	ALPHABET INC	GOOG	14,814	$3.6M	1.62%
7	LAM RESEARCH CORP	LRCX	24,730	$3.3M	1.49%
8	VANGUARD INDEX FDS	922908595	9,554	$2.8M	1.28%
9	TAIWAN FD INC	874036106	52,000	$2.8M	1.27%
10	CHINA FD INC	169373107	150,000	$2.8M	1.25%
11	MEXICO FD INC	592835102	130,000	$2.6M	1.15%
12	VANGUARD BD INDEX FDS	921937819	32,186	$2.5M	1.13%
13	BNY MELLON MUN BD INFRASTRUC	09662W109	230,534	$2.5M	1.11%
14	HIGHLAND OPPS & INCOME FD	HFRO-PB	386,000	$2.5M	1.10%
15	TEMPLETON DRAGON FD INC	88018T101	210,000	$2.4M	1.10%
16	META PLATFORMS INC	META	3,300	$2.4M	1.09%
17	AMAZON COM INC	AMZN	10,841	$2.4M	1.07%
18	TOTAL RETURN SECURITIES FUND	SWZ	386,000	$2.3M	1.06%
19	BLACKROCK TECH AND PRIVATE E	BLK	350,000	$2.3M	1.06%
20	MORGAN STANLEY CHINA A SH FD	MS-PQ	140,000	$2.3M	1.05%
21	DESTRA MULTI-ALTERNATIVE FD	25065A502	268,000	$2.3M	1.04%
22	NEXPOINT DIVERSIFIED REL ET	65340G205	604,119	$2.2M	1.00%
23	VANGUARD INDEX FDS	922908611	10,652	$2.2M	1.00%
24	HIGHLAND GLOBAL ALLOCATION F	HGLB	240,000	$2.2M	0.98%
25	CENTRAL SECS CORP	155123102	40,000	$2.1M	0.92%
26	WESTERN AST INFL LKD OPP & I	95766R104	230,000	$2.0M	0.92%
27	BLACKROCK MUN TARGET TERM TR	BLK	90,000	$2.0M	0.91%
28	SRH TOTAL RETURN FUND INC	STEW	110,000	$2.0M	0.90%
29	NEUBERGER BERMAN NEXT GENERA	NBXG	129,790	$2.0M	0.90%
30	EATON CORP PLC	ETN	5,145	$1.9M	0.87%
31	ROYCE GLOBAL TRUST INC	RGT	146,616	$1.9M	0.85%
32	COSTCO WHSL CORP NEW	22160K105	1,900	$1.8M	0.79%
33	SPROUTS FMRS MKT INC	85208M102	16,142	$1.8M	0.79%
34	CLOUGH GLOBAL OPPORTUNITIES	GLO	306,075	$1.7M	0.79%
35	ABRDN NATL MUN INCOME FD	24610T108	170,000	$1.7M	0.79%
36	TAIWAN FD INC	874036106	32,000	$1.7M	0.78%
37	KAYNE ANDERSON ENERGY INFRST	486606106	139,686	$1.7M	0.78%
38	PUTNAM MUN OPPORTUNITIES TR	746922103	166,367	$1.7M	0.77%
39	CHINA FD INC	169373107	93,000	$1.7M	0.77%
40	BNY MELLON STRATEGIC MUNS IN	05588W108	273,100	$1.7M	0.77%
41	TORTOISE SUSTAINABLE & SOCIA	27901F109	140,000	$1.6M	0.74%
42	AECOM	ACM	12,611	$1.6M	0.74%
43	DIMENSIONAL ETF TRUST	25434V781	44,100	$1.6M	0.71%
44	MEXICO EQUITY & INCOME FD	592834105	132,000	$1.6M	0.71%
45	NVIDIA CORPORATION	NVDA	8,355	$1.6M	0.70%
46	MORGAN STANLEY CHINA A SH FD	MS-PQ	93,000	$1.5M	0.70%
47	TEMPLETON DRAGON FD INC	88018T101	132,000	$1.5M	0.69%
48	EUROPEAN EQUITY FD INC	298768102	141,440	$1.5M	0.69%
49	KOREA FD INC	500634209	49,895	$1.5M	0.69%
50	MEXICO FD INC	592835102	75,000	$1.5M	0.67%
51	HIGHLAND OPPS & INCOME FD	HFRO-PB	231,000	$1.5M	0.66%
52	JPMORGAN CHASE & CO.	VYLD	4,631	$1.5M	0.66%
53	FEDERATED HERMES PREM MUNI I	FHI	128,431	$1.4M	0.64%
54	NEUBERGER BERMAN MUN FD INC	64124P101	135,900	$1.4M	0.63%
55	HIGHLAND GLOBAL ALLOCATION F	HGLB	153,000	$1.4M	0.63%
56	CLOUGH GLOBAL DIVID & INCOME	18913Y103	233,208	$1.4M	0.62%
57	ISHARES TR	464288281	14,353	$1.4M	0.61%
58	BERKSHIRE HATHAWAY INC DEL	BRK-A	2,695	$1.4M	0.61%
59	BLACKROCK TECH AND PRIVATE E	BLK	201,000	$1.3M	0.61%
60	TOTAL RETURN SECURITIES FUND	SWZ	221,000	$1.3M	0.60%
61	PIMCO CALIF MUN INCOME FD	72200N106	154,000	$1.3M	0.60%
62	BRANDYWINEGBL GBL INCM OPP F	10537L104	149,900	$1.3M	0.59%
63	ROYCE GLOBAL TRUST INC	RGT	100,174	$1.3M	0.58%
64	CENTRAL SECS CORP	155123102	25,000	$1.3M	0.58%
65	SRH TOTAL RETURN FUND INC	STEW	70,000	$1.3M	0.57%
66	DIMENSIONAL ETF TRUST	25434V740	39,760	$1.3M	0.57%
67	NEXPOINT DIVERSIFIED REL ET	65340G205	340,728	$1.3M	0.57%
68	MEXICO EQUITY & INCOME FD	592834105	105,827	$1.3M	0.57%
69	VISA INC	V	3,641	$1.2M	0.56%
70	ISHARES TR	464287234	22,990	$1.2M	0.55%
71	DESTRA MULTI-ALTERNATIVE FD	25065A502	139,000	$1.2M	0.54%
72	EXXON MOBIL CORP	XOM	10,474	$1.2M	0.53%
73	BLACKROCK MUNIHLDGS NJ QLTY	BLK	100,700	$1.2M	0.53%
74	BLACKROCK INC	BLK	940	$1.1M	0.49%
75	WALMART INC	WMT	10,628	$1.1M	0.49%
76	JOHNSON CTLS INTL PLC	G51502105	9,705	$1.1M	0.48%
77	CLOUGH GLOBAL OPPORTUNITIES	GLO	184,053	$1.0M	0.47%
78	XAI OCTAGN FLT RAT & ALT INM	98400T106	197,409	$1.0M	0.47%
79	TRACTOR SUPPLY CO	TSCO	18,315	$1.0M	0.47%
80	NETAPP INC	NTAP	8,699	$1.0M	0.46%
81	KAYNE ANDERSON ENERGY INFRST	486606106	83,153	$1.0M	0.46%
82	TORTOISE SUSTAINABLE & SOCIA	27901F109	87,000	$1.0M	0.46%
83	TAIWAN SEMICONDUCTOR MFG LTD	874039100	3,635	$1.0M	0.46%
84	KOREA FD INC	500634209	32,370	$990,043	0.45%
85	BOEING CO	BA-PA	4,327	$933,896	0.42%
86	SCHWAB CHARLES CORP	SCHW-PJ	9,625	$918,899	0.41%
87	MFS HIGH YIELD MUN TR	59318E102	262,208	$909,862	0.41%
88	BLACKROCK MUNIHLDNGS CALI QL	BLK	78,600	$852,810	0.38%
89	INTERACTIVE BROKERS GROUP IN	45841N107	12,300	$846,363	0.38%
90	STERIS PLC	STE	3,397	$840,554	0.38%
91	PALANTIR TECHNOLOGIES INC	PLTR	4,600	$839,132	0.38%
92	ANALOG DEVICES INC	ADI	3,406	$836,854	0.38%
93	GE VERNOVA INC	GEV	1,322	$812,898	0.37%
94	QUALCOMM INC	QCOM	4,727	$786,384	0.35%
95	LOWES COS INC	548661107	3,103	$779,815	0.35%
96	ISHARES TR	46435G326	9,632	$772,197	0.35%
97	VANGUARD WORLD FD	92204A405	5,871	$770,510	0.35%
98	MASTERCARD INCORPORATED	MA	1,348	$766,756	0.35%
99	ELEVANCE HEALTH INC FORMERLY	ELV	2,250	$727,020	0.33%
100	PROCEPT BIOROBOTICS CORP	PRCT	20,270	$723,436	0.33%
101	BLACKROCK N Y MUN INCOME TRU	BLK	69,921	$707,601	0.32%
102	VANGUARD INDEX FDS	922908363	1,131	$692,841	0.31%
103	MFS INVT GRADE MUN TR	59318B108	86,381	$678,955	0.31%
104	NIKE INC	NKE	9,650	$672,895	0.30%
105	VANGUARD TAX-MANAGED FDS	921943858	11,228	$672,782	0.30%
106	FEDEX CORP	FDX	2,800	$660,268	0.30%
107	WISDOMTREE TR	WT	11,518	$657,678	0.30%
108	OKLO INC	OKLO	5,814	$649,017	0.29%
109	SPDR S&P 500 ETF TR	SPY	966	$643,230	0.29%
110	RIVERNORTH FLEXIBLE MUNI INC	76883Y107	49,190	$641,930	0.29%
111	VANECK ETF TRUST	92189H300	24,900	$635,199	0.29%
112	NUTRIEN LTD	NTR	10,256	$602,130	0.27%
113	ISHARES TR	46435U556	12,961	$593,360	0.27%
114	DEERE & CO	DE	1,279	$584,836	0.26%
115	ARS PHARMACEUTICALS INC	SPRY	57,791	$580,800	0.26%
116	HOME DEPOT INC	HD	1,432	$580,232	0.26%
117	GABELLI GLOBAL SMALL & MID C	GGZ	39,727	$574,055	0.26%
118	LOCKHEED MARTIN CORP	LMT	1,133	$565,605	0.25%
119	IONQ INC	IONQ-WT	9,188	$565,062	0.25%
120	MATTHEWS ASIA FDS	577125826	15,023	$557,693	0.25%
121	UNION PAC CORP	UNP	2,296	$542,706	0.24%
122	NETFLIX INC	NFLX	444	$532,320	0.24%
123	ETF SER SOLUTIONS	26922A420	5,045	$529,289	0.24%
124	EXCHANGE TRADED CONCEPTS TRU	301505731	8,154	$522,182	0.24%
125	CENTRAL & EASTERN EUROPE FD	153436100	33,995	$522,163	0.24%
126	BNY MELLON MUN BD INFRASTRUC	09662W109	48,278	$516,575	0.23%
127	INVESCO QQQ TR	IVZ	849	$509,546	0.23%
128	EUROPEAN EQUITY FD INC	298768102	46,630	$505,469	0.23%
129	J P MORGAN EXCHANGE TRADED F	46641Q332	8,705	$497,030	0.22%
130	GABELLI GLOBAL SMALL & MID C	GGZ	32,122	$464,163	0.21%
131	TEMPLETON EMERGING MKTS FD	880191101	27,506	$460,451	0.21%
132	WESTERN ASST INFLTN LKD INM	95766Q106	53,254	$448,399	0.20%
133	AAR CORP	AIR	5,000	$448,350	0.20%
134	STARBUCKS CORP	SBUX	5,068	$428,753	0.19%
135	J P MORGAN EXCHANGE TRADED F	46654Q203	7,399	$425,590	0.19%
136	ISHARES TR	464287614	907	$424,848	0.19%
137	MATTHEWS ASIA FDS	577125818	11,700	$424,042	0.19%
138	FISERV INC	FISV	3,248	$418,765	0.19%
139	INTEL CORP	INTC	12,408	$416,288	0.19%
140	NUVEEN PENNSYLVANIA QLT MUN	NU	34,440	$413,280	0.19%
141	CLOUGH GLOBAL EQUITY FD	18914C100	53,450	$406,755	0.18%
142	DOVER CORP	DOV	2,313	$385,878	0.17%
143	VANGUARD INTL EQUITY INDEX F	922042858	7,107	$385,057	0.17%
144	SOFI TECHNOLOGIES INC	SOFI	13,890	$366,974	0.17%
145	DIMENSIONAL ETF TRUST	25434V708	9,457	$364,771	0.16%
146	VANGUARD WORLD FD	92204A702	482	$360,122	0.16%
147	ISHARES TR	464287200	538	$360,083	0.16%
148	ISHARES TR	464287598	1,762	$358,640	0.16%
149	VANGUARD INDEX FDS	922908736	747	$358,269	0.16%
150	XAI OCTAGN FLT RAT & ALT INM	98400T106	65,118	$345,125	0.16%
151	GENERAL DYNAMICS CORP	GD	1,000	$341,000	0.15%
152	JOHNSON & JOHNSON	JNJ	1,838	$340,867	0.15%
153	CHEVRON CORP NEW	CVX	2,187	$339,644	0.15%
154	CISCO SYS INC	CSCO	4,950	$338,702	0.15%
155	ISHARES BITCOIN TRUST ETF	IBIT	5,144	$334,360	0.15%
156	VANGUARD INTL EQUITY INDEX F	922042718	2,337	$333,139	0.15%
157	GENERAL AMERN INVS CO INC	368802104	5,300	$329,713	0.15%
158	DIMENSIONAL ETF TRUST	25434V807	7,000	$322,840	0.15%
159	TESLA INC	TSLA	724	$321,977	0.14%
160	BANK NEW YORK MELLON CORP	064058100	2,940	$320,342	0.14%
161	FRANKLIN TEMPLETON ETF TR	FGDL	15,600	$319,956	0.14%
162	VANGUARD SCOTTSDALE FDS	92206C409	4,000	$319,720	0.14%
163	UNITEDHEALTH GROUP INC	UNH	918	$317,023	0.14%
164	DIMENSIONAL ETF TRUST	25434V864	6,500	$313,235	0.14%
165	J P MORGAN EXCHANGE TRADED F	46641Q159	6,700	$310,947	0.14%
166	VANGUARD INTL EQUITY INDEX F	922042742	2,239	$308,469	0.14%
167	VANGUARD BD INDEX FDS	921937827	3,907	$308,301	0.14%
168	DIMENSIONAL ETF TRUST	25434V872	7,200	$307,872	0.14%
169	DIMENSIONAL ETF TRUST	25434V302	9,687	$305,431	0.14%
170	PFIZER INC	PFE	11,627	$296,256	0.13%
171	TEMPLETON EMERGING MKTS FD	880191101	16,630	$278,386	0.13%
172	MFS HIGH INCOME MUN TR	59318D104	73,090	$271,895	0.12%
173	ILLINOIS TOOL WKS INC	452308109	1,000	$260,760	0.12%
174	VANECK ETF TRUST	92189F676	780	$254,561	0.11%
175	VANGUARD INDEX FDS	922908769	770	$252,691	0.11%
176	ENERGY FUELS INC	UUUU	16,368	$251,249	0.11%
177	PROCTER AND GAMBLE CO	742718109	1,633	$250,910	0.11%
178	SCHWAB STRATEGIC TR	808524409	8,503	$247,509	0.11%
179	ORACLE CORP	ORCL-PD	874	$245,804	0.11%
180	BLACKROCK MUN TARGET TERM TR	BLK	10,739	$241,198	0.11%
181	US BANCORP DEL	USB-PS	4,913	$237,445	0.11%
182	VANGUARD INDEX FDS	922908751	928	$235,972	0.11%
183	ISHARES TR	464287622	580	$211,978	0.10%
184	FULCRUM THERAPEUTICS INC	FULC	18,630	$171,396	0.08%
185	CLOUGH GLOBAL EQUITY FD	18914C100	20,033	$152,451	0.07%
186	MFS MUN INCOME TR	552738106	27,412	$147,751	0.07%
187	GDL FD	361570104	16,947	$144,895	0.07%
188	MFS MUN INCOME TR	552738106	24,829	$133,828	0.06%
189	BNY MELLON STRATEGIC MUN BD	09662E109	19,352	$114,564	0.05%
190	EAGLE CAP GROWTH FD INC	269451100	10,139	$106,589	0.05%
191	WAVE LIFE SCIENCES LTD	WVE	13,193	$96,573	0.04%
192	ABRDN EMERGING MARKETS EX CH	AEF	14,668	$95,049	0.04%
193	EAGLE CAP GROWTH FD INC	269451100	6,123	$64,369	0.03%
194	ABRDN EMERGING MARKETS EX CH	AEF	8,382	$54,315	0.02%
195	CLOUGH GLOBAL DIVID & INCOME	18913Y103	7,987	$47,523	0.02%
196	FEDERATED HERMES PREM MUNI I	FHI	384	$4,239	0.00%