Deschutes Portfolio Strategy

Matisse Capital as of Dec. 31, 2025

Portfolio Holdings for Matisse Capital

Matisse Capital holds 166 positions in its portfolio as reported in the December 2025 quarterly 13F filing

Company (Ticker) Portfolio Weight Valued At Change in Shares Share Count Share Price
Apple (AAPL) 4.5 $10M 37k 271.86
Pimco CA Municipal Income Fund (PCQ) 3.6 $8.0M 920k 8.73
Ishares Tr Core Div Grwth (DGRO) 3.5 $7.8M 112k 69.42
Microsoft Corporation (MSFT) 3.1 $6.9M 14k 483.63
Ascendis Pharma A/s Sponsored Adr (ASND) 2.6 $5.8M 27k 213.24
Fs Credit Opportunities Corp Common Stock (FSCO) 2.5 $5.7M 898k 6.30
Taiwan Fund (TWN) 2.0 $4.5M 84k 53.38
Xai Octagon Floatng Rate Alt (XFLT) 2.0 $4.4M 920k 4.80
Mexico Fund (MXF) 1.8 $4.1M 205k 20.14
Alphabet Cap Stk Cl A (GOOGL) 1.8 $4.1M 13k 313.00
Morgan Stanley China A Share Fund (CAF) 1.8 $4.0M 233k 17.36
Templeton Dragon Fund (TDF) 1.7 $3.9M 342k 11.26
Royce Global Value Tr (RGT) 1.7 $3.8M 291k 13.11
Swiss Helvetia Fund (SWZ) 1.7 $3.8M 610k 6.22
Blackrock Tech And Private E Shs Ben Int (BTX) 1.7 $3.8M 571k 6.59
Highland Opps & Income Highland Income (HFRO) 1.6 $3.7M 617k 5.98
Destra Multi-alternative Common Shares (DMA) 1.6 $3.7M 407k 8.97
Highland Global mf closed and mf open (HGLB) 1.6 $3.6M 393k 9.13
Bluerock Pvt Real Estate (BPRE) 1.5 $3.4M 225k 15.00
Boulder Growth & Income Fund (STEW) 1.5 $3.3M 180k 18.54
Nexpoint Diversified Rel Et Com New (NXDT) 1.5 $3.3M 862k 3.83
Central Securities (CET) 1.5 $3.3M 65k 50.71
Lam Research Corp Com New (LRCX) 1.4 $3.2M 19k 171.18
Korea Com New (KF) 1.3 $3.0M 82k 36.32
Mexico Equity and Income Fund (MXE) 1.3 $2.9M 238k 12.38
Vanguard Index Fds Sml Cp Grw Etf (VBK) 1.3 $2.9M 9.6k 302.11
Clough Global Opportunities Sh Ben Int (GLO) 1.2 $2.8M 490k 5.66
Kayne Anderson MLP Investment (KYN) 1.2 $2.8M 223k 12.38
Amazon (AMZN) 1.2 $2.6M 11k 230.82
Vanguard Bd Index Fds Intermed Term (BIV) 1.1 $2.5M 32k 77.88
Vanguard Index Fds Sm Cp Val Etf (VBR) 1.0 $2.3M 11k 211.79
Meta Platforms Cl A (META) 0.9 $2.1M 3.1k 660.09
Blackrock Mun Target Term Tr Com Shs Ben In (BTT) 0.9 $2.1M 90k 22.82
Wstrn Ast Clymr Infltn Lkd Opts & Inc (WIW) 0.9 $2.0M 230k 8.59
European Equity Fund (EEA) 0.9 $1.9M 188k 10.30
Neuberger Next Generation Common Stock (NBXG) 0.8 $1.9M 130k 14.44
Alphabet Cap Stk Cl C (GOOG) 0.8 $1.8M 5.8k 313.80
Sprouts Fmrs Mkt (SFM) 0.8 $1.8M 23k 79.67
Abrdn Natl Mun Income Sh Ben Int (VFL) 0.8 $1.8M 175k 10.27
Dimensional Etf Trust Intl Small Cap V (DISV) 0.7 $1.7M 44k 38.00
NVIDIA Corporation (NVDA) 0.7 $1.6M 8.8k 186.50
Invesco Van Kampen Senior Income Trust (VVR) 0.7 $1.6M 489k 3.27
JPMorgan Chase & Co. (JPM) 0.7 $1.6M 4.9k 322.19
Berkshire Hathaway Inc Del Cl B New (BRK.B) 0.7 $1.6M 3.1k 502.57
Clough Global Allocation Fun (GLV) 0.6 $1.4M 241k 5.97
Federated Premier Municipal Income (FMN) 0.6 $1.4M 129k 11.11
Ishares Tr Jpmorgan Usd Emg (EMB) 0.6 $1.4M 14k 96.28
Neuberger Ber. Intermediate Muni. Fund (NBH) 0.6 $1.4M 136k 10.12
Dimensional Etf Trust Emerging Mkts Va (DFEV) 0.6 $1.3M 40k 33.74
Visa Com Cl A (V) 0.6 $1.3M 3.6k 350.71
Eaton Corp SHS (ETN) 0.6 $1.3M 4.0k 318.51
Exxon Mobil Corporation (XOM) 0.6 $1.3M 11k 120.34
Ishares Tr Msci Emg Mkt Etf (EEM) 0.6 $1.3M 23k 54.71
Legg Mason Bw Global Income (BWG) 0.5 $1.2M 146k 8.37
AECOM Technology Corporation (ACM) 0.5 $1.2M 13k 95.33
Wal-Mart Stores (WMT) 0.5 $1.2M 11k 111.41
Johnson Ctls Intl SHS (JCI) 0.5 $1.2M 9.7k 119.75
Costco Wholesale Corporation (COST) 0.5 $1.1M 1.3k 862.12
Nike CL B (NKE) 0.5 $1.1M 18k 63.71
Taiwan Semiconductor Mfg Sponsored Ads (TSM) 0.5 $1.1M 3.6k 303.89
Spdr S&p 500 Etf Tr Tr Unit (SPY) 0.5 $1.0M 1.5k 681.84
Blackrock (BLK) 0.4 $1.0M 940.00 1070.34
Ge Vernova (GEV) 0.4 $956k 1.5k 653.57
NetApp (NTAP) 0.4 $932k 8.7k 107.09
Analog Devices (ADI) 0.4 $924k 3.4k 271.20
Mfs High Yield Mun Tr Sh Ben Int (CMU) 0.4 $920k 262k 3.51
Tractor Supply Company (TSCO) 0.4 $916k 18k 50.01
Steris Shs Usd (STE) 0.4 $861k 3.4k 253.52
Nuveen Cr Strategies Income Com Shs (JQC) 0.4 $855k 170k 5.02
Blackrock MuniHoldings CA Insrd Fnd (MUC) 0.4 $833k 79k 10.60
Palantir Technologies Cl A (PLTR) 0.4 $821k 4.6k 177.75
FedEx Corporation (FDX) 0.4 $809k 2.8k 288.86
Qualcomm (QCOM) 0.4 $809k 4.7k 171.05
Ishares Tr Core Msci Intl (IDEV) 0.4 $794k 9.6k 82.48
Anthem (ELV) 0.4 $789k 2.3k 350.55
Vanguard World Financials Etf (VFH) 0.3 $776k 5.8k 133.49
Mastercard Incorporated Cl A (MA) 0.3 $772k 1.4k 570.88
Bny Mellon Strategic Muns (LEO) 0.3 $750k 118k 6.36
Lowe's Companies (LOW) 0.3 $748k 3.1k 241.16
Wave Life Sciences SHS (WVE) 0.3 $717k 42k 17.00
Vanguard Index Fds S&p 500 Etf Shs (VOO) 0.3 $714k 1.1k 627.35
Blackrock N Y Mun Income Tru Sh Ben Int (BNY) 0.3 $709k 70k 10.14
Vanguard Tax-managed Fds Van Ftse Dev Mkt (VEA) 0.3 $701k 11k 62.47
Mfs Invt Grade Mun Tr Sh Ben Int (CXH) 0.3 $687k 86k 7.95
Wisdomtree Tr Emg Mkts Smcap (DGS) 0.3 $659k 12k 57.24
Silverback Therapeutics (SPRY) 0.3 $647k 56k 11.65
Vaneck Etf Trust Jp Mrgan Em Loc (EMLC) 0.3 $643k 25k 25.82
Nutrien (NTR) 0.3 $633k 10k 61.72
Rivernorth Flexible Municipal Incm Fd II (RFMZ) 0.3 $623k 49k 12.66
Gabelli mutual funds - (GGZ) 0.3 $606k 40k 15.00
Central Europe and Russia Fund (CEE) 0.3 $602k 34k 17.70
Deere & Company (DE) 0.3 $596k 1.3k 465.57
Exchange Traded Concepts Tru Robo Glb Artif (THNQ) 0.3 $577k 9.1k 63.49
Procept Biorobotics Corp (PRCT) 0.3 $568k 18k 31.46
Clough Global Equity Fund closed-end fund (GLQ) 0.3 $563k 74k 7.66
Home Depot (HD) 0.2 $553k 1.6k 344.10
Lockheed Martin Corporation (LMT) 0.2 $551k 1.1k 483.67
Union Pacific Corporation (UNP) 0.2 $531k 2.3k 231.32
Matthews Asia Fds Asia Innov Activ (MINV) 0.2 $530k 15k 35.30
Ionq Inc Pipe (IONQ) 0.2 $512k 11k 44.87
Invesco Qqq Tr Unit Ser 1 (QQQ) 0.2 $509k 829.00 614.52
J P Morgan Exchange Traded F Nasdaq Eqt Prem (JEPQ) 0.2 $503k 8.7k 58.12
J P Morgan Exchange Traded F Equity Premium (JEPI) 0.2 $502k 8.8k 57.24
Aar (AIR) 0.2 $497k 6.0k 82.79
Saba Capital Income & Oprnt Shs New (BRW) 0.2 $458k 65k 7.01
Etf Ser Solutions Defiance Quantum (QTUM) 0.2 $456k 4.2k 109.67
Dover Corporation (DOV) 0.2 $447k 2.3k 195.24
Western Asst Infltn Lkd Inm Com Sh Ben Int (WIA) 0.2 $440k 53k 8.27
Ishares Tr Future Ai & Tech (ARTY) 0.2 $435k 9.0k 48.18
Cisco Systems (CSCO) 0.2 $429k 5.6k 77.03
Ishares Tr Rus 1000 Grw Etf (IWF) 0.2 $424k 895.00 473.30
Matthews Asia Fds Emer Mkts Equity (MEM) 0.2 $419k 12k 35.81
Oklo Com Cl A (OKLO) 0.2 $416k 5.8k 71.76
Nuveen PA Investnt Quality Municipal (NQP) 0.2 $410k 34k 11.89
CSX Corporation (CSX) 0.2 $409k 11k 36.25
Intel Corporation (INTC) 0.2 $408k 11k 36.90
Boeing Dep Conv Pfd A (BA.PA) 0.2 $408k 5.9k 69.06
Interactive Brokers Group In Com Cl A (IBKR) 0.2 $405k 6.3k 64.31
Chevron Corporation (CVX) 0.2 $390k 2.6k 152.40
Vanguard Intl Equity Index F Ftse Emr Mkt Etf (VWO) 0.2 $382k 7.1k 53.76
Vanguard Bd Index Fds Short Trm Bond (BSV) 0.2 $382k 4.8k 78.81
Johnson & Johnson (JNJ) 0.2 $382k 1.8k 206.99
Dimensional Etf Trust Us Core Equity 2 (DFAC) 0.2 $375k 9.5k 39.59
Ishares Tr Rus 1000 Val Etf (IWD) 0.2 $371k 1.8k 210.35
Ishares Tr Core S&p500 Etf (IVV) 0.2 $369k 538.00 684.94
Vanguard Index Fds Growth Etf (VUG) 0.2 $364k 747.00 487.86
Dimensional Etf Trust Internatnal Val (DFIV) 0.2 $349k 7.0k 49.90
Bank of New York Mellon Corporation (BK) 0.2 $341k 2.9k 116.09
General Dynamics Corporation (GD) 0.2 $337k 1.0k 336.66
Tesla Motors (TSLA) 0.1 $336k 746.00 449.72
Vanguard Intl Equity Index F Ftse Smcap Etf (VSS) 0.1 $335k 2.3k 143.33
Eli Lilly & Co. (LLY) 0.1 $328k 305.00 1075.23
Vanguard World Inf Tech Etf (VGT) 0.1 $320k 424.00 754.46
Vanguard Scottsdale Fds Shrt Trm Corp Bd (VCSH) 0.1 $319k 4.0k 79.73
Dimensional Etf Trust Emgr Cre Eqt Mng (DFAE) 0.1 $316k 9.7k 32.57
Franklin Templeton Etf Tr Intl Aggregte Bd (FLIA) 0.1 $315k 16k 20.18
Dimensional Etf Trust Short Duration F (DFSD) 0.1 $312k 6.5k 47.95
Vanguard Intl Equity Index F Tt Wrld St Etf (VT) 0.1 $311k 2.2k 141.09
J P Morgan Exchange Traded F Income Etf (JPIE) 0.1 $310k 6.7k 46.29
Dimensional Etf Trust Core Fixed Incom (DFCF) 0.1 $306k 7.2k 42.56
UnitedHealth (UNH) 0.1 $305k 925.00 330.21
International Business Machines (IBM) 0.1 $301k 1.0k 296.21
Pfizer (PFE) 0.1 $290k 12k 24.90
Mfs Mun Income Tr Sh Ben Int (MFM) 0.1 $284k 52k 5.43
Starbucks Corporation (SBUX) 0.1 $279k 3.3k 84.21
Mfs High Income Mun Tr Sh Ben Int (CXE) 0.1 $270k 73k 3.70
Vanguard Index Fds Total Stk Mkt (VTI) 0.1 $258k 770.00 335.27
Schwab Strategic Tr Us Lcap Va Etf (SCHV) 0.1 $252k 8.5k 29.61
A Mark Precious Metals (GOLD) 0.1 $248k 7.3k 34.05
Illinois Tool Works (ITW) 0.1 $246k 1.0k 246.30
Intuitive Surgical Com New (ISRG) 0.1 $240k 424.00 566.36
Boeing Company (BA) 0.1 $240k 1.1k 217.12
Vanguard Index Fds Small Cp Etf (VB) 0.1 $239k 928.00 257.95
Procter & Gamble Company (PG) 0.1 $233k 1.6k 143.31
Us Bancorp Del Com New (USB) 0.1 $232k 4.3k 53.36
Oracle Corporation (ORCL) 0.1 $230k 1.2k 194.91
Shopify Cl A Sub Vtg Shs (SHOP) 0.1 $224k 1.4k 160.97
Ishares Bitcoin Trust Etf Shs Ben Int (IBIT) 0.1 $223k 4.5k 49.65
Northrop Grumman Corporation (NOC) 0.1 $222k 389.00 570.21
Ishares Tr Ishares Biotech (IBB) 0.1 $221k 1.3k 168.78
Charles Schwab Corporation (SCHW) 0.1 $216k 2.2k 99.91
Ishares Tr Rus 1000 Etf (IWB) 0.1 $212k 567.00 373.44
Freeport-mcmoran CL B (FCX) 0.1 $204k 4.0k 50.79
Grayscale Coindesk Crypto Usd Shs (GDLC) 0.1 $200k 4.9k 41.32
Fulcrum Therapeutics (FULC) 0.1 $152k 14k 11.31
GDL Com Sh Ben It (GDL) 0.1 $144k 17k 8.47