Q4 2025 · 13F-HR
Matisse Capitalholdings as filed
Filed 2026-01-29 · accession 0001668256-26-000002
$224.4M
Reported value
167
Positions
2025-12-31
Period end
The Brief · Matisse Capital · Q4 2025
AI · grounded in 13F
Matisse Capital exited its position in XXCHNXX for a reduction of $4.49M. The fund established new positions in FSCO for $5.66M and BPRE for $3.37M. Other new entries include GOOG at $1.83M and VVR at $1.60M. The fund also closed positions in DMB and XTEAX.
Holdings as filed
| CUSIP | Ticker | Issuer | Value | % port. | Shares | Class | Voting |
|---|---|---|---|---|---|---|---|
| 037833100 | AAPL | APPLE INC | $10.0M | 4.45% | 36,722 | Common | SOLE |
| 72200N106 | XPCQX | PIMCO CALIF MUN INCOME FD | $8.0M | 3.58% | 920,318 | Common | SOLE |
| 46434V621 | DGRO | ISHARES TR | $7.8M | 3.48% | 112,343 | Common | SOLE |
| 594918104 | MSFT | MICROSOFT CORP | $6.9M | 3.06% | 14,183 | Common | SOLE |
| 04351P101 | ASNDUSD | ASCENDIS PHARMA A/S | $5.8M | 2.60% | 27,305 | Common | SOLE |
| 30290Y101 | FSCO | FS CREDIT OPPORTUNITIES CORP | $5.7M | 2.52% | 897,918 | Common | SOLE |
| 874036106 | TWN | TAIWAN FD INC | $4.5M | 2.00% | 84,000 | Common | SOLE |
| 98400T106 | — | XAI OCTAGN FLT RAT & ALT INM | $4.4M | 1.97% | 920,000 | Common | SOLE |
| 592835102 | MXF | MEXICO FD INC | $4.1M | 1.84% | 205,000 | Common | SOLE |
| 02079K305 | GOOGL | ALPHABET INC | $4.1M | 1.81% | 12,975 | Common | SOLE |
| 617468103 | XCAFX | MORGAN STANLEY CHINA A SH FD | $4.0M | 1.80% | 233,000 | Common | SOLE |
| 88018T101 | TDF | TEMPLETON DRAGON FD INC | $3.9M | 1.72% | 342,000 | Common | SOLE |
| 78081T104 | RGT | ROYCE GLOBAL TRUST INC | $3.8M | 1.70% | 291,000 | Common | SOLE |
| 870875101 | SWZ | TOTAL RETURN SECURITIES FUND | $3.8M | 1.69% | 610,000 | Common | SOLE |
| 09260Q108 | BTX | BLACKROCK TECH AND PRIVATE E | $3.8M | 1.68% | 571,000 | Common | SOLE |
| 43010E404 | HFRO | HIGHLAND OPPS & INCOME FD | $3.7M | 1.64% | 617,000 | Common | SOLE |
| 25065A502 | DMA | DESTRA MULTI-ALTERNATIVE FD | $3.7M | 1.63% | 407,000 | Common | SOLE |
| 43010T104 | HGLB | HIGHLAND GLOBAL ALLOCATION F | $3.6M | 1.60% | 393,000 | Common | SOLE |
| 09631P102 | BPRE | BLUEROCK PVT REAL ESTATE FD | $3.4M | 1.50% | 224,800 | Common | SOLE |
| 101507101 | STEW | SRH TOTAL RETURN FUND INC | $3.3M | 1.49% | 180,000 | Common | SOLE |
| 65340G205 | NXDT | NEXPOINT DIVERSIFIED REL ET | $3.3M | 1.47% | 861,609 | Common | SOLE |
| 155123102 | CET | CENTRAL SECS CORP | $3.3M | 1.47% | 65,000 | Common | SOLE |
| 512807306 | LRCX | LAM RESEARCH CORP | $3.2M | 1.43% | 18,737 | Common | SOLE |
| 500634209 | KF | KOREA FD INC | $3.0M | 1.33% | 82,265 | Common | SOLE |
| 592834105 | MXE | MEXICO EQUITY & INCOME FD | $2.9M | 1.31% | 237,827 | Common | SOLE |
| 922908595 | VBK | VANGUARD INDEX FDS | $2.9M | 1.29% | 9,554 | Common | SOLE |
| 18914E106 | GLO | CLOUGH GLOBAL OPPORTUNITIES | $2.8M | 1.24% | 490,128 | Common | SOLE |
| 486606106 | KYN | KAYNE ANDERSON ENERGY INFRST | $2.8M | 1.23% | 222,839 | Common | SOLE |
| 023135106 | AMZN | AMAZON COM INC | $2.6M | 1.16% | 11,264 | Common | SOLE |
| 921937819 | BIV | VANGUARD BD INDEX FDS | $2.5M | 1.12% | 32,186 | Common | SOLE |
| 922908611 | VBR | VANGUARD INDEX FDS | $2.3M | 1.01% | 10,652 | Common | SOLE |
| 30303M102 | META | META PLATFORMS INC | $2.1M | 0.93% | 3,147 | Common | SOLE |
| 09257P105 | BTT | BLACKROCK MUN TARGET TERM TR | $2.1M | 0.92% | 90,000 | Common | SOLE |
| 95766R104 | WIW | WESTERN AST INFL LKD OPP & I | $2.0M | 0.88% | 230,000 | Common | SOLE |
| 298768102 | EEA | EUROPEAN EQUITY FD INC | $1.9M | 0.86% | 188,070 | Common | SOLE |
| 64133Q108 | NBXG | NEUBERGER NEXT GENERATION | $1.9M | 0.84% | 129,790 | Common | SOLE |
| 02079K107 | GOOG | ALPHABET INC | $1.8M | 0.82% | 5,840 | Common | SOLE |
| 85208M102 | SFM | SPROUTS FMRS MKT INC | $1.8M | 0.80% | 22,542 | Common | SOLE |
| 24610T108 | VFL | ABRDN NATL MUN INCOME FD | $1.8M | 0.80% | 174,693 | Common | SOLE |
| 25434V781 | DISV | DIMENSIONAL ETF TRUST | $1.7M | 0.75% | 44,100 | Common | SOLE |
| 67066G104 | NVDA | NVIDIA CORPORATION | $1.6M | 0.73% | 8,750 | Common | SOLE |
| 46131H107 | VVR | INVESCO SR INCOME TR | $1.6M | 0.71% | 489,082 | Common | SOLE |
| 46625H100 | JPM | JPMORGAN CHASE & CO. | $1.6M | 0.71% | 4,941 | Common | SOLE |
| 084670702 | BRK/B | BERKSHIRE HATHAWAY INC DEL | $1.6M | 0.69% | 3,090 | Common | SOLE |
| 18913Y103 | GLV | CLOUGH GLOBAL DIVID & INCOME | $1.4M | 0.64% | 240,785 | Common | SOLE |
| 31423P108 | FMN | FEDERATED HERMES PREM MUNI I | $1.4M | 0.64% | 128,815 | Common | SOLE |
| 464288281 | EMB | ISHARES TR | $1.4M | 0.62% | 14,354 | Common | SOLE |
| 64124P101 | NBH | NEUBERGER MUN FD INC | $1.4M | 0.61% | 135,900 | Common | SOLE |
| 25434V740 | DFEV | DIMENSIONAL ETF TRUST | $1.3M | 0.60% | 39,760 | Common | SOLE |
| 92826C839 | V | VISA INC | $1.3M | 0.57% | 3,645 | Common | SOLE |
| G29183103 | ETN | EATON CORP PLC | $1.3M | 0.56% | 3,959 | Common | SOLE |
| 30231G102 | XOM | EXXON MOBIL CORP | $1.3M | 0.56% | 10,477 | Common | SOLE |
| 464287234 | EEM | ISHARES TR | $1.3M | 0.56% | 22,990 | Common | SOLE |
| 10537L104 | BWG | BRANDYWINEGBL GBL INCM OPP F | $1.2M | 0.54% | 145,866 | Common | SOLE |
| 00766T100 | ACM | AECOM | $1.2M | 0.54% | 12,611 | Common | SOLE |
| 931142103 | WMT | WALMART INC | $1.2M | 0.53% | 10,642 | Common | SOLE |
| G51502105 | JCI | JOHNSON CTLS INTL PLC | $1.2M | 0.52% | 9,705 | Common | SOLE |
| 22160K105 | COST | COSTCO WHSL CORP NEW | $1.1M | 0.50% | 1,299 | Common | SOLE |
| 654106103 | NKE | NIKE INC | $1.1M | 0.50% | 17,560 | Common | SOLE |
| 874039100 | TSM | TAIWAN SEMICONDUCTOR MFG LTD | $1.1M | 0.49% | 3,635 | Common | SOLE |
| 09290D101 | BLK | BLACKROCK INC | $1.0M | 0.45% | 940 | Common | SOLE |
| 36828A101 | GEV | GE VERNOVA INC | $956,173 | 0.43% | 1,463 | Common | SOLE |
| 64110D104 | NTAP | NETAPP INC | $931,576 | 0.42% | 8,699 | Common | SOLE |
| 032654105 | ADI | ANALOG DEVICES INC | $923,707 | 0.41% | 3,406 | Common | SOLE |
| 59318E102 | CMU | MFS HIGH YIELD MUN TR | $920,350 | 0.41% | 262,208 | Common | SOLE |
| 892356106 | TSCO | TRACTOR SUPPLY CO | $915,933 | 0.41% | 18,315 | Common | SOLE |
| G8473T100 | STE | STERIS PLC | $861,207 | 0.38% | 3,397 | Common | SOLE |
| 67073D102 | XJQCX | NUVEEN CR STRATEGIES INCOME | $854,640 | 0.38% | 170,247 | Common | SOLE |
| 09254L107 | MUC | BLACKROCK MUNIHLDNGS CALI QL | $833,160 | 0.37% | 78,600 | Common | SOLE |
| 69608A108 | PLTR | PALANTIR TECHNOLOGIES INC | $820,850 | 0.37% | 4,618 | Common | SOLE |
| 31428X106 | FDX | FEDEX CORP | $808,808 | 0.36% | 2,800 | Common | SOLE |
| 747525103 | QCOM | QUALCOMM INC | $808,553 | 0.36% | 4,727 | Common | SOLE |
| 46435G326 | IDEV | ISHARES TR | $794,447 | 0.35% | 9,632 | Common | SOLE |
| 036752103 | ELV | ELEVANCE HEALTH INC FORMERLY | $788,738 | 0.35% | 2,250 | Common | SOLE |
| 92204A405 | VFH | VANGUARD WORLD FD | $775,710 | 0.35% | 5,811 | Common | SOLE |
| 57636Q104 | MA | MASTERCARD INCORPORATED | $772,401 | 0.34% | 1,353 | Common | SOLE |
| 05588W108 | LEO | BNY MELLON STRATEGIC MUNS IN | $750,067 | 0.33% | 117,935 | Common | SOLE |
| 548661107 | LOW | LOWES COS INC | $748,319 | 0.33% | 3,103 | Common | SOLE |
| Y95308105 | WVE | WAVE LIFE SCIENCES LTD | $717,281 | 0.32% | 42,193 | Common | SOLE |
| 922908363 | VOO | VANGUARD INDEX FDS | $713,921 | 0.32% | 1,138 | Common | SOLE |
| 09248L106 | XBNYX | BLACKROCK N Y MUN INCOME TRU | $708,999 | 0.32% | 69,921 | Common | SOLE |
| 921943858 | VEA | VANGUARD TAX-MANAGED FDS | $701,413 | 0.31% | 11,228 | Common | SOLE |
| 59318B108 | CXH | MFS INVT GRADE MUN TR | $686,729 | 0.31% | 86,381 | Common | SOLE |
| 78462F103 | SPY | SPDR S&P 500 ETF TR | $659,342 | 0.29% | 967 | Common | SOLE |
| 97717W281 | DGS | WISDOMTREE TR | $659,290 | 0.29% | 11,518 | Common | SOLE |
| 82835W108 | SPRY | ARS PHARMACEUTICALS INC | $647,286 | 0.29% | 55,561 | Common | SOLE |
| 92189H300 | EMLC | VANECK ETF TRUST | $642,918 | 0.29% | 24,900 | Common | SOLE |
| 67077M108 | NTR | NUTRIEN LTD | $633,000 | 0.28% | 10,256 | Common | SOLE |
| 78462F103 | SPY | SPDR S&P 500 ETF TR | $632,159 | 0.28% | 557 | PUT | SOLE |
| 76883Y107 | RFMZ | RIVERNORTH FLEXIBLE MUNI INC | $622,745 | 0.28% | 49,190 | Common | SOLE |
| 36249W104 | GGZ | GABELLI GLOBAL SMALL & MID C | $605,475 | 0.27% | 40,365 | Common | SOLE |
| 153436100 | CEE | CENTRAL & EASTERN EUROPE FD | $601,712 | 0.27% | 33,995 | Common | SOLE |
| 244199105 | DE | DEERE & CO | $595,464 | 0.27% | 1,279 | Common | SOLE |
| 301505731 | THNQ | EXCHANGE TRADED CONCEPTS TRU | $576,870 | 0.26% | 9,086 | Common | SOLE |
| 74276L105 | PRCT | PROCEPT BIOROBOTICS CORP | $568,388 | 0.25% | 18,067 | Common | SOLE |
| 18914C100 | XGLQX | CLOUGH GLOBAL EQUITY FD | $562,880 | 0.25% | 73,483 | Common | SOLE |
| 437076102 | HD | HOME DEPOT INC | $552,625 | 0.25% | 1,606 | Common | SOLE |
| 539830109 | LMT | LOCKHEED MARTIN CORP | $550,900 | 0.25% | 1,139 | Common | SOLE |
| 907818108 | UNP | UNION PAC CORP | $531,111 | 0.24% | 2,296 | Common | SOLE |
| 577125826 | MINV | MATTHEWS ASIA FDS | $530,387 | 0.24% | 15,023 | Common | SOLE |
| 46222L108 | IONQ | IONQ INC | $511,742 | 0.23% | 11,405 | Common | SOLE |
| 46090E103 | QQQ | INVESCO QQQ TR | $509,435 | 0.23% | 829 | Common | SOLE |
| 46654Q203 | JEPQ | J P MORGAN EXCHANGE TRADED F | $503,278 | 0.22% | 8,659 | Common | SOLE |
| 46641Q332 | JEPI | J P MORGAN EXCHANGE TRADED F | $501,714 | 0.22% | 8,765 | Common | SOLE |
| 000361105 | AIR | AAR CORP | $496,740 | 0.22% | 6,000 | Common | SOLE |
| 78518H202 | BRW | SABA CAPITAL INCOME & OPRNT | $457,984 | 0.20% | 65,333 | Common | SOLE |
| 26922A420 | QTUM | ETF SER SOLUTIONS | $455,879 | 0.20% | 4,157 | Common | SOLE |
| 260003108 | DOV | DOVER CORP | $446,709 | 0.20% | 2,288 | Common | SOLE |
| 95766Q106 | XWIAX | WESTERN ASST INFLTN LKD INM | $440,411 | 0.20% | 53,254 | Common | SOLE |
| 46435U556 | ARTY | ISHARES TR | $434,541 | 0.19% | 9,019 | Common | SOLE |
| 17275R102 | CSCO | CISCO SYS INC | $428,510 | 0.19% | 5,563 | Common | SOLE |
| 464287614 | IWF | ISHARES TR | $423,604 | 0.19% | 895 | Common | SOLE |
| 577125818 | MEM | MATTHEWS ASIA FDS | $418,957 | 0.19% | 11,700 | Common | SOLE |
| 02156V109 | OKLO | OKLO INC | $416,208 | 0.19% | 5,800 | Common | SOLE |
| 670972108 | XNQPX | NUVEEN PENNSYLVANIA QLT MUN | $409,492 | 0.18% | 34,440 | Common | SOLE |
| 126408103 | CSX | CSX CORP | $408,610 | 0.18% | 11,272 | Common | SOLE |
| 458140100 | INTC | INTEL CORP | $408,372 | 0.18% | 11,067 | Common | SOLE |
| 097023204 | BA 6 10/15/27 | BOEING CO | $407,454 | 0.18% | 5,900 | Common | SOLE |
| 45841N107 | IBKR | INTERACTIVE BROKERS GROUP IN | $405,153 | 0.18% | 6,300 | Common | SOLE |
| 166764100 | CVX | CHEVRON CORP NEW | $390,155 | 0.17% | 2,560 | Common | SOLE |
| 922042858 | VWO | VANGUARD INTL EQUITY INDEX F | $382,072 | 0.17% | 7,107 | Common | SOLE |
| 921937827 | BSV | VANGUARD BD INDEX FDS | $381,834 | 0.17% | 4,845 | Common | SOLE |
| 478160104 | JNJ | JOHNSON & JOHNSON | $381,480 | 0.17% | 1,843 | Common | SOLE |
| 25434V708 | DFAC | DIMENSIONAL ETF TRUST | $375,281 | 0.17% | 9,479 | Common | SOLE |
| 464287598 | IWD | ISHARES TR | $370,849 | 0.17% | 1,763 | Common | SOLE |
| 464287200 | IVV | ISHARES TR | $368,498 | 0.16% | 538 | Common | SOLE |
| 922908736 | VUG | VANGUARD INDEX FDS | $364,431 | 0.16% | 747 | Common | SOLE |
| 25434V807 | DFIV | DIMENSIONAL ETF TRUST | $349,300 | 0.16% | 7,000 | Common | SOLE |
| 064058100 | BK | BANK NEW YORK MELLON CORP | $341,305 | 0.15% | 2,940 | Common | SOLE |
| 369550108 | GD | GENERAL DYNAMICS CORP | $336,997 | 0.15% | 1,001 | Common | SOLE |
| 88160R101 | TSLA | TESLA INC | $335,491 | 0.15% | 746 | Common | SOLE |
| 922042718 | VSS | VANGUARD INTL EQUITY INDEX F | $334,962 | 0.15% | 2,337 | Common | SOLE |
| 532457108 | LLY | ELI LILLY & CO | $327,946 | 0.15% | 305 | Common | SOLE |
| 92204A702 | VGT | VANGUARD WORLD FD | $319,893 | 0.14% | 424 | Common | SOLE |
| 92206C409 | VCSH | VANGUARD SCOTTSDALE FDS | $318,920 | 0.14% | 4,000 | Common | SOLE |
| 25434V302 | DFAE | DIMENSIONAL ETF TRUST | $315,506 | 0.14% | 9,687 | Common | SOLE |
| 35473P611 | FLIA | FRANKLIN TEMPLETON ETF TR | $314,808 | 0.14% | 15,600 | Common | SOLE |
| 25434V864 | DFSD | DIMENSIONAL ETF TRUST | $311,675 | 0.14% | 6,500 | Common | SOLE |
| 922042742 | VT | VANGUARD INTL EQUITY INDEX F | $310,962 | 0.14% | 2,204 | Common | SOLE |
| 46641Q159 | JPIE | J P MORGAN EXCHANGE TRADED F | $310,143 | 0.14% | 6,700 | Common | SOLE |
| 25434V872 | DFCF | DIMENSIONAL ETF TRUST | $306,432 | 0.14% | 7,200 | Common | SOLE |
| 91324P102 | UNH | UNITEDHEALTH GROUP INC | $305,444 | 0.14% | 925 | Common | SOLE |
| 459200101 | IBM | INTERNATIONAL BUSINESS MACHS | $300,653 | 0.13% | 1,015 | Common | SOLE |
| 717081103 | PFE | PFIZER INC | $290,384 | 0.13% | 11,662 | Common | SOLE |
| 552738106 | MFM | MFS MUN INCOME TR | $283,668 | 0.13% | 52,241 | Common | SOLE |
| 855244109 | SBUX | STARBUCKS CORP | $279,325 | 0.12% | 3,317 | Common | SOLE |
| 59318D104 | CXE | MFS HIGH INCOME MUN TR | $270,433 | 0.12% | 73,090 | Common | SOLE |
| 922908769 | VTI | VANGUARD INDEX FDS | $258,158 | 0.12% | 770 | Common | SOLE |
| 808524409 | SCHV | SCHWAB STRATEGIC TR | $251,760 | 0.11% | 8,503 | Common | SOLE |
| 00181T107 | GOLD | GOLD COM INC | $247,544 | 0.11% | 7,270 | Common | SOLE |
| 452308109 | ITW | ILLINOIS TOOL WKS INC | $246,300 | 0.11% | 1,000 | Common | SOLE |
| 46120E602 | ISRG | INTUITIVE SURGICAL INC | $240,137 | 0.11% | 424 | Common | SOLE |
| 097023105 | BA | BOEING CO | $239,700 | 0.11% | 1,104 | Common | SOLE |
| 922908751 | VB | VANGUARD INDEX FDS | $239,378 | 0.11% | 928 | Common | SOLE |
| 742718109 | PG | PROCTER AND GAMBLE CO | $233,309 | 0.10% | 1,628 | Common | SOLE |
| 902973304 | USB | US BANCORP DEL | $232,009 | 0.10% | 4,348 | Common | SOLE |
| 68389X105 | ORCL | ORACLE CORP | $229,994 | 0.10% | 1,180 | Common | SOLE |
| 82509L107 | SHOP | SHOPIFY INC | $223,748 | 0.10% | 1,390 | Common | SOLE |
| 46438F101 | IBIT | ISHARES BITCOIN TRUST ETF | $223,226 | 0.10% | 4,496 | Common | SOLE |
| 666807102 | NOC | NORTHROP GRUMMAN CORP | $221,812 | 0.10% | 389 | Common | SOLE |
| 464287556 | IBB | ISHARES TR | $220,765 | 0.10% | 1,308 | Common | SOLE |
| 808513105 | SCHW | SCHWAB CHARLES CORP | $215,806 | 0.10% | 2,160 | Common | SOLE |
| 464287622 | IWB | ISHARES TR | $211,740 | 0.09% | 567 | Common | SOLE |
| 35671D857 | FCX | FREEPORT-MCMORAN INC | $204,328 | 0.09% | 4,023 | Common | SOLE |
| G40705108 | GDLC | GRAYSCALE COINDESK CRYPTO | $200,418 | 0.09% | 4,850 | Common | SOLE |
| 359616109 | FULC | FULCRUM THERAPEUTICS INC | $152,233 | 0.07% | 13,460 | Common | SOLE |
| 361570104 | GDL | GDL FD | $143,541 | 0.06% | 16,947 | Common | SOLE |
Source: SEC EDGAR · raw 13F holdings as filed. The Class column shows the option type when reported (Put/Call) or Common when the issuer's equity is held directly. 13F discloses long positions only.