Matisse Capital

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CIK 1668256

13F portfolio (2026-Q1)

$234M

Positions

163

Implied 1Y CAGR

modeled · as filed

Long positions in SEC Section 13(f) securities (US-listed stocks, ADRs and ETFs), largest first · Δ vs 2025-Q4. A lagged quarterly snapshot (filed ≤45 days after quarter-end); excludes shorts, options, cash, and shares listed only on non-US exchanges — foreign companies held via a US listing or ADR (e.g. Alibaba, TSMC) ARE included.

Implied return what this book implies · modeled, not advice methodology →

Open in PORT →

As filed = each book applied at its quarter-end (what the reported book did) · As copyable = applied at its statutory 45-day filing deadline (what a 13F follower could have earned).

Computing…

Hypothetical modeled performance constructed with hindsight — not actual results, and not indicative of future results. See the Disclaimer.

Exposures · what this manager owns, by sector & size (2026-Q1)

Holdings

163

Top 5

15.5%

Top 10

26.9%

Effective N

70.2

HHI

0.014

This quarter

12 new · 0 exit →

By sector

Unclassified65.3%

Information Technology10.5%

Industrials6.0%

Health Care4.0%

Consumer Discretionary3.4%

Financials3.2%

Communication Services3.1%

Real Estate1.8%

Other2.7%

By market cap

Unknown69.1%

Mega (>$200B)19.4%

Large ($10–200B)7.8%

Micro (<$300M)1.9%

Mid ($2–10B)1.1%

Small ($300M–2B)0.6%

By region

Other62.2%

North America36.9%

Asia-Pacific0.8%

Europe0.2%

By industry group GICS — finer than sector

Industry group	Weight	Names
Unclassified	65.98%	94
Technology Hardware & Equipment	4.58%	4
Machinery	3.68%	7
Pharmaceuticals & Biotechnology	3.52%	7
Software & IT Services	3.28%	4
Specialty Retail	3.01%	6
Software	2.52%	3
Semiconductors & Semiconductor Equipment	1.85%	4
Equity Real Estate Investment Trusts (REITs)	1.81%	1
Banks	1.17%	4
Electrical Equipment & Components	1.13%	2
Commercial Services & Supplies	1.06%	3
Oil, Gas & Consumable Fuels	0.99%	2
Chemicals	0.85%	3
Aerospace & Defense	0.70%	4
Capital Markets	0.57%	2
Food & Staples Retailing	0.53%	1
Health Care Equipment & Supplies	0.46%	2
Professional Services	0.46%	1
Road & Rail	0.44%	2
Airlines	0.43%	1
Utilities	0.26%	1
Communications Equipment	0.26%	1
Hotels, Restaurants & Leisure	0.13%	1
Distributors	0.12%	1
Automobiles & Components	0.12%	1
Metals & Mining	0.10%	1

Top holdings

#	Ticker	Name	Sector	Weight
1	AAPL	Apple Inc.	Information Technology	3.91%
2	DGRO	ISHARES CORE DIVIDEND GROWTH ETF	Unclassified	3.35%
3	XPCQX	PIMCO CALIF MUN INCOME FD	Unclassified	3.18%
4	ASND	Ascendis Pharma A/S	Health Care	2.55%
5	XFLT	XAI OCTAGN FLT RAT & ALT INM T COM SHS BENF INT	Unclassified	2.53%
6	FSCO	FS CREDIT OPPORTUNITIES CORP	Unclassified	2.48%
7	FSSL	FS SPECIALTY LENDING FD	Unclassified	2.42%
8	TWN	TAIWAN FUND INC	Unclassified	2.36%
9	MSFT	MICROSOFT CORP	Information Technology	2.27%
10	MXF	MEXICO FD INC	Unclassified	1.84%

72/163 names classified · sector 34.7% of weight · industry 34.0% · mkt cap 30.9%; unclassified names shown, never dropped.

Sector allocation over time · how the GICS mix & top names shifted quarter by quarter

top 5/sector, rest → “Other” · 42 quarters

Information TechnologyAAPL, MSFT, INTC, NVDA, GEV · other

Real EstateSEVN, NXDT, WPC, WY

IndustrialsLRCX, LMT, NOC, ETN, ACN · other

FinancialsUSB, ELV, BRK.B, SOFI, JPM · other

Consumer DiscretionaryAMZN, COST, WMT, HD, TSLA · other

Health CareASND, WVE, ARVN, PRCT, SLDB · other

Communication ServicesGOOGL, META, GOOG, T, NFLX · other

MaterialsNKE, NTR, PG, UUUU, FCX · other

Consumer StaplesSFM, MED, CVS, MO, PM

EnergyXOM, CVX, BP

UtilitiesEPD, OKLO, PPL, VST

UnclassifiedDGRO, STEW, GDL, AMLP, PERSHING SQUARE TONTINE HLDG COM · other

Sector is classified on each name's CURRENT fundamentals, not point-in-time — apparent sector drift can reflect the market re-rating a holding, not a manager trade. 13F is a lagged quarterly snapshot of long positions in US-listed securities only — foreign companies held via a US listing or ADR ARE included, but shares listed only on non-US exchanges (plus shorts, options and cash) are not. Latest quarter: 34.7% of the book is sector-classified (unclassified names shown, never dropped).

Style box · size × value-growth placement of the reported book (2026-Q1), classified on current fundamentals (not point-in-time) — load it into PORT to overlay your own portfolio

Only 28% of book weight classified — the grid is NOT representative of the whole book.

holdings, colored by sector (58 classified)Matisse Capital centroid (Large Core)

Information TechnologyIndustrialsConsumer DiscretionaryCommunication ServicesFinancialsEnergyHealth CareMaterialsConsumer StaplesUtilities

Style box summary for Matisse Capital: centroid Large Core. Heaviest cells: Large Growth 11.3%, Large Core 9.3%, Large Value 2.7%.

Classified: 27.5% of book weight (58/163 names) · unclassified 72.5%: DGRO, XPCQX, ASND, XFLT, FSCO, FSSL, TWN, MXF, PNI, NXDT +95 more. Size: cap 70/20/10 bands; style: value/growth composite on our own metrics — not Morningstar's model.

Contribution holdings-based, any period

No contribution data for this period.

Holdings· 163 positions (2026-Q1) · largest first · Δ vs 2025-Q4

#	Security	Shares	Value	Weight	Δ QoQ
1	AAPLAPPLE INC	36,023	$9M	3.9%	HOLD
2	DGROISHARES CORE DIVIDEND GROWTH ETF	111,607	$8M	3.4%	HOLD
3	XPCQXPIMCO CALIF MUN INCOME FD	866,413	$7M	3.2%	TRIM −6%
4	ASNDASCENDIS PHARMA A/S	26,077	$6M	2.6%	TRIM −4%
5	XFLTXAI OCTAGN FLT RAT & ALT INM T COM SHS BENF INT	344,096	$6M	2.5%	NEW
6	FSCOFS CREDIT OPPORTUNITIES CORP	1,134,000	$6M	2.5%	ADD 26%
7	FSSLFS SPECIALTY LENDING FD	452,200	$6M	2.4%	NEW
8	TWNTAIWAN FD INC	84,000	$6M	2.4%	HOLD
9	MSFTMICROSOFT CORP	14,358	$5M	2.3%	HOLD
10	MXFMEXICO FD INC	205,000	$4M	1.8%	HOLD
11	PNIPIMCO NEW YORK MUN FD II	618,726	$4M	1.8%	NEW
12	NXDTNEXPOINT DIVERSIFIED REL ET	903,840	$4M	1.8%	ADD 5%
13	LRCXLAM RESEARCH CORP	19,130	$4M	1.7%	ADD 2%
14	BPREBLUEROCK PVT REAL ESTATE FD	246,000	$4M	1.7%	ADD 9%
15	BTXBLACKROCK TECH AND PRIVATE E	593,000	$4M	1.7%	ADD 4%
16	RGTROYCE GLOBAL TRUST INC	291,000	$4M	1.7%	HOLD
17	GOOGLALPHABET INC	12,975	$4M	1.6%	HOLD
18	KFKOREA FD INC	82,265	$4M	1.6%	HOLD
19	STEWSRH TOTAL RETURN FUND INC	216,000	$4M	1.6%	ADD 20%
20	TDFTEMPLETON DRAGON FD INC	342,000	$4M	1.6%	HOLD
21	HGLBHIGHLAND GLOBAL ALLOCATION F	443,000	$4M	1.5%	ADD 13%
22	HFROHIGHLAND OPPS & INCOME FD	617,000	$4M	1.5%	HOLD
23	DMADESTRA MULTI-ALTERNATIVE FD	412,000	$3M	1.4%	HOLD
24	CETCENTRAL SECS CORP	65,000	$3M	1.4%	HOLD
25	XCAFXMORGAN STANLEY CHINA A SH FD	178,100	$3M	1.3%	TRIM −24%
26	MXEMEXICO EQUITY & INCOME FD	237,827	$3M	1.3%	HOLD
27	VBKVANGUARD INDEX FDS	9,554	$3M	1.2%	HOLD
28	GLOCLOUGH GLOBAL OPPORTUNITIES	456,547	$3M	1.1%	TRIM −7%
29	BIVVANGUARD BD INDEX FDS	32,186	$2M	1.1%	HOLD
30	SWZTOTAL RETURN SECURITIES FUND	407,269	$2M	1.0%	TRIM −33%
31	AMZNAMAZON COM INC	11,305	$2M	1.0%	HOLD
32	VBRVANGUARD INDEX FDS	10,652	$2M	1.0%	HOLD
33	GEVGE VERNOVA INC	2,613	$2M	1.0%	ADD 79%
34	WIWWESTERN AST INFL LKD OPP & I	230,000	$2M	0.8%	HOLD
35	VVRINVESCO SR INCOME TR	600,000	$2M	0.8%	ADD 23%
36	JFRNUVEEN FLOATING RATE INCOME	250,000	$2M	0.8%	NEW
37	EEAEUROPEAN EQUITY FD INC	188,070	$2M	0.8%	HOLD
38	BGXBLACKSTONE LONG SHORT CR INC	170,000	$2M	0.8%	NEW
39	BTTBLACKROCK MUN TARGET TERM TR	81,562	$2M	0.8%	TRIM −9%
40	METAMETA PLATFORMS INC	3,147	$2M	0.8%	HOLD
41	XOMEXXON MOBIL CORP	10,474	$2M	0.8%	HOLD
42	GOOGALPHABET INC	6,140	$2M	0.8%	ADD 5%
43	VFLABRDN NATL MUN INCOME FD	174,693	$2M	0.7%	HOLD
44	DISVDIMENSIONAL ETF TRUST	44,100	$2M	0.7%	HOLD
45	NBXGNEUBERGER NEXT GENERATION	129,790	$2M	0.7%	HOLD
46	BRK.BBERKSHIRE HATHAWAY INC DEL	3,480	$2M	0.7%	ADD 13%
47	XJQCXNUVEEN CR STRATEGIES INCOME	314,469	$2M	0.7%	ADD 85%
48	NVDANVIDIA CORPORATION	8,738	$2M	0.7%	HOLD
49	JEPIJPMorgan Equity Premium Income ETF	25,443	$1M	0.6%	ADD 190%
50	GLVCLOUGH GLOBAL DIVID & INCOME	240,785	$1M	0.6%	HOLD
51	JPMJPMORGAN CHASE & CO	4,837	$1M	0.6%	TRIM −2%
52	DFEVDIMENSIONAL ETF TRUST	39,760	$1M	0.6%	HOLD
53	ETNEATON CORP PLC	3,959	$1M	0.6%	HOLD
54	FMNFEDERATED HERMES PREM MUNI I	128,815	$1M	0.6%	HOLD
55	NBHNEUBERGER BERMAN MUN FD INC	135,900	$1M	0.6%	HOLD
56	EMBISHARES TR	14,355	$1M	0.6%	HOLD
57	WMTWALMART INC	10,628	$1M	0.6%	HOLD
58	EEMISHARES TR	22,990	$1M	0.6%	HOLD
59	JCIJOHNSON CONTROLS INTERNATION	9,705	$1M	0.5%	HOLD
60	COSTCOSTCO WHSL CORP NEW	1,273	$1M	0.5%	TRIM −2%
61	SFMSPROUTS FMRS MKT INC	16,142	$1M	0.5%	TRIM −28%
62	TSMTAIWAN SEMICONDUCTOR MFG LTD	3,635	$1M	0.5%	HOLD
63	BWGBRANDYWINEGBL GBL INCM OPP F	145,866	$1M	0.5%	HOLD
64	VVISA INC	3,641	$1M	0.5%	HOLD
65	ADIANALOG DEVICES INC	3,406	$1M	0.5%	HOLD
66	ACMAECOM	12,611	$1M	0.5%	HOLD
67	FDXFEDEX CORP	2,800	$997,304	0.4%	HOLD
68	NKENIKE INC	18,658	$985,516	0.4%	ADD 6%
69	BLKBLACKROCK INC	940	$904,007	0.4%	HOLD
70	NTAPNetApp Inc.	8,699	$890,691	0.4%	HOLD
71	TSCOTRACTOR SUPPLY CO	18,315	$829,670	0.4%	HOLD
72	MUCBLACKROCK MUNIHLDNGS CALI QL	78,600	$817,440	0.3%	HOLD
73	IDEVISHARES TR	9,632	$804,946	0.3%	HOLD
74	NTRNUTRIEN LTD	10,256	$773,918	0.3%	HOLD
75	STESTERIS PLC	3,397	$751,179	0.3%	HOLD
76	SOFISoFi Technologies, Ince	46,227	$734,085	0.3%	NEW
77	LOWLOWES COS INC	3,103	$733,177	0.3%	HOLD
78	DEDEERE & CO	1,279	$720,461	0.3%	HOLD
79	VEAVANGUARD TAX-MANAGED FDS	11,228	$719,490	0.3%	HOLD
80	THNQEXCHANGE TRADED CONCEPTS TRU	12,032	$710,028	0.3%	ADD 32%
81	BABAALIBABA GROUP HLDG LTD	5,534	$694,296	0.3%	NEW
82	DGSWISDOMTREE TR	11,518	$692,232	0.3%	HOLD
83	BSVVANGUARD BD INDEX FDS	8,813	$691,027	0.3%	ADD 82%
84	LMTLOCKHEED MARTIN CORP	1,139	$688,400	0.3%	HOLD
85	VOOVANGUARD INDEX FDS	1,148	$686,068	0.3%	HOLD
86	MYNBLACKROCK MUNIYIELD N Y QUAL	71,419	$685,622	0.3%	NEW
87	VFHVANGUARD WORLD FD	5,611	$677,865	0.3%	TRIM −3%
88	MAMASTERCARD INCORPORATED	1,347	$673,042	0.3%	HOLD
89	EMLCVANECK ETF TRUST	24,900	$625,239	0.3%	HOLD
90	RFMZRIVERNORTH FLEXIBLE MUNI INC	49,190	$622,254	0.3%	HOLD
91	CEECENTRAL & EASTERN EUROPE FD	33,995	$622,109	0.3%	HOLD
92	VSTVISTRA CORP	4,050	$608,837	0.3%	NEW
93	QCOMQUALCOMM INC	4,727	$608,743	0.3%	HOLD
94	SPYSTATE STR SPDR S&P 500 ETF T	883	$574,467	0.2%	TRIM −9%
95	UNPUNION PAC CORP	2,296	$557,056	0.2%	HOLD
96	MINVMATTHEWS ASIA FDS	14,447	$549,581	0.2%	TRIM −4%
97	JEPQJ P MORGAN EXCHANGE TRADED F	9,724	$539,897	0.2%	ADD 12%
98	SPRYARS PHARMACEUTICALS INC	67,229	$539,849	0.2%	ADD 21%
99	CVXCHEVRON CORP NEW	2,557	$529,052	0.2%	HOLD
100	HDHOME DEPOT INC	1,602	$526,882	0.2%	HOLD
101	XGLQXCLOUGH GLOBAL EQUITY FD	66,015	$497,092	0.2%	TRIM −10%
102	INTCINTEL CORP	11,017	$486,180	0.2%	HOLD
103	DOVDOVER CORP	2,288	$476,934	0.2%	HOLD
104	CSXCSX CORP	11,272	$462,716	0.2%	HOLD
105	JNJJOHNSON & JOHNSON	1,839	$449,610	0.2%	HOLD
106	BRWSABA CAPITAL INCOME & OPRNT	65,333	$440,345	0.2%	HOLD
107	MEMMATTHEWS ASIA FDS	11,700	$434,561	0.2%	HOLD
108	QTUMETF SER SOLUTIONS	4,042	$433,740	0.2%	TRIM −3%
109	CSCOCISCO SYS INC	5,554	$430,969	0.2%	HOLD
110	XWIAXWESTERN ASST INFLTN LKD INM	53,254	$430,292	0.2%	HOLD
111	IBKRINTERACTIVE BROKERS GROUP IN	6,300	$422,541	0.2%	HOLD
112	XNQPXNUVEEN PENNSYLVANIA QLT MUN	34,440	$410,869	0.2%	HOLD
113	ARTYISHARES TR	8,778	$408,438	0.2%	TRIM −3%
114	VWOVANGUARD INTL EQUITY INDEX F	7,107	$384,133	0.2%	HOLD
115	XCXHXMFS INVT GRADE MUN TR	47,998	$383,504	0.2%	TRIM −44%
116	BOEING CO	5,900	$382,792	0.2%	HOLD
117	PLTRPALANTIR TECHNOLOGIES INC	2,600	$380,328	0.2%	TRIM −44%
118	IWDISHARES TR	1,764	$376,978	0.2%	HOLD
119	ASMLASML HOLDING N V	285	$376,437	0.2%	NEW
120	DFIVDIMENSIONAL ETF TRUST	7,000	$369,460	0.2%	HOLD
121	DFACDIMENSIONAL ETF TRUST	9,503	$369,295	0.2%	HOLD
122	BEBLOOM ENERGY CORP	2,700	$365,823	0.2%	NEW
123	IONQIONQ INC	12,495	$360,231	0.2%	ADD 10%
124	XCMUXMFS HIGH YIELD MUN TR	98,712	$353,389	0.2%	TRIM −62%
125	IVVISHARES TR	538	$351,427	0.2%	HOLD
126	BNYBANK NEW YORK MELLON CORP	2,940	$348,772	0.1%	HOLD
127	QQQINVESCO QQQ TR	602	$347,695	0.1%	TRIM −27%
128	GDGENERAL DYNAMICS CORP	1,000	$343,220	0.1%	HOLD
129	PFEPFIZER INC	12,201	$342,604	0.1%	ADD 5%
130	VSSVANGUARD INTL EQUITY INDEX F	2,337	$340,711	0.1%	HOLD
131	WVEWAVE LIFE SCIENCES LTD	46,723	$338,733	0.1%	ADD 11%
132	IWFISHARES TR	785	$334,724	0.1%	TRIM −12%
133	PRCTPROCEPT BIOROBOTICS CORP	13,336	$333,533	0.1%	TRIM −26%
134	AIRAAR CORP	3,000	$328,380	0.1%	TRIM −50%
135	DFAEDIMENSIONAL ETF TRUST	9,687	$328,002	0.1%	HOLD
136	VUGVANGUARD INDEX FDS	747	$326,282	0.1%	HOLD
137	VGTVANGUARD WORLD FD	461	$321,402	0.1%	ADD 9%
138	VCSHVANGUARD SCOTTSDALE FDS	4,000	$317,080	0.1%	HOLD
139	FLIAFRANKLIN TEMPLETON ETF TR	15,600	$316,056	0.1%	HOLD
140	JPIEJ P MORGAN EXCHANGE TRADED F	6,778	$312,262	0.1%	HOLD
141	DFSDDIMENSIONAL ETF TRUST	6,500	$311,220	0.1%	HOLD
142	VTVANGUARD INTL EQUITY INDEX F	2,205	$304,961	0.1%	HOLD
143	FULCFULCRUM THERAPEUTICS INC	39,649	$304,108	0.1%	ADD 195%
144	DFCFDIMENSIONAL ETF TRUST	7,200	$303,984	0.1%	HOLD
145	SBUXSTARBUCKS CORP	3,314	$296,901	0.1%	HOLD
146	GOLDGOLD COM INC	7,270	$291,382	0.1%	HOLD
147	LLYELI LILLY & CO	302	$277,929	0.1%	HOLD
148	TSLATESLA INC	741	$275,467	0.1%	HOLD
149	XCXEXMFS HIGH INCOME MUN TR	73,090	$271,164	0.1%	HOLD
150	NOCNORTHROP GRUMMAN CORP	389	$265,391	0.1%	HOLD
151	ITWILLINOIS TOOL WKS INC	1,000	$260,290	0.1%	HOLD
152	SCHVSCHWAB STRATEGIC TR	8,503	$259,328	0.1%	HOLD
153	VTIVANGUARD INDEX FDS	770	$247,024	0.1%	HOLD
154	IBMINTERNATIONAL BUSINESS MACHS	1,013	$245,541	0.1%	HOLD
155	VBVANGUARD INDEX FDS	928	$243,062	0.1%	HOLD
156	FCXFREEPORT MCMORAN INC	4,023	$236,472	0.1%	HOLD
157	PGPROCTER AND GAMBLE CO	1,621	$234,137	0.1%	HOLD
158	IBBISHARES TR	1,311	$221,389	0.1%	HOLD
159	USBUS BANCORP	4,198	$218,338	0.1%	TRIM −3%
160	ORCLORACLE CORP	1,372	$201,835	0.1%	ADD 16%
161	MFMMFS MUN INCOME TR	27,412	$147,751	0.1%	TRIM −48%
162	GDLGDL FD	16,947	$141,169	0.1%	HOLD
163	EVFEATON VANCE SR INCOME TR	27,527	$137,360	0.1%	NEW

Position trends· top 15 holdings · shares held over 6 quarters

green added · red trimmed

Security

2024-Q4

2025-Q1

2025-Q2

2025-Q3

2025-Q4

2026-Q1

Latest value

AAPLAPPLE INC

40K

39K

38K

37K

36K

$9M

DGROISHARES CORE DIVIDEND GROWTH ETF

115K

112K

$8M

XPCQXPIMCO CALIF MUN INCOME FD

72K

73K

151K

920K

866K

$7M

ASNDASCENDIS PHARMA A/S

30K

28K

26K

27K

26K

$6M

XFLTXAI OCTAGN FLT RAT & ALT INM T COM SHS BENF INT

—

344K

$6M

FSCOFS CREDIT OPPORTUNITIES CORP

—

898K

1.1M

$6M

FSSLFS SPECIALTY LENDING FD

—

452K

$6M

TWNTAIWAN FD INC

70K

75K

84K

$6M

MSFTMICROSOFT CORP

17K

16K

15K

14K

$5M

MXFMEXICO FD INC

195K

205K

$4M

PNIPIMCO NEW YORK MUN FD II

250K

258K

—

619K

$4M

NXDTNEXPOINT DIVERSIFIED REL ET

529K

666K

820K

945K

862K

904K

$4M

LRCXLAM RESEARCH CORP

35K

29K

25K

19K

$4M

BPREBLUEROCK PVT REAL ESTATE FD

—

225K

246K

$4M

BTXBLACKROCK TECH AND PRIVATE E

140K

—

551K

571K

593K

$4M

Shares reported each quarter by the largest current holdings. Green = added vs the prior filing of that name, red = trimmed, grey = roughly held; a dash is a quarter with no 13F on file (a gap is skipped, not read as an exit). 13F is filed up to 45 days after quarter-end. Up to 40 quarters (10 years) available — use the selector above.

☆Matisse Capital