Matisse Discounted Closed-End Fund Strategy Institutional CL

Portfolio Holdings as of 2/29/2020

Ticker Cusip Description Shares Market Value % of Portfolio
NHF 65340G205 NexPoint Strategic O pportunities Fund 254,000.000 $4,076,700.00 10.01%
PSH NA G7016V101 Pershing Square Hold ings Ltd/Fund 220,000.000 $3,801,600.00 9.34%
RIF 76970B101 RMR Real Estate Inco me Fund 198,000.000 $3,653,100.00 8.97%
DNI 25538A204 Dividend and Income Fund 288,155.000 $3,253,269.95 7.99%
GDL 361570104 GDL Fund/The 209,299.000 $1,894,155.95 4.65%
TPOU LN G8846K109 Third Point Offshore Investors Ltd 114,000.000 $1,784,100.00 4.38%
IIF 61745C105 MORGAN STANLEY INDIA INVESTMENT FUND INC 89,000.000 $1,664,300.00 4.09%
HFRO 43010E404 HIGHLAND INCOME FUND 125,000.000 $1,488,750.00 3.66%
TWN 874036106 Taiwan Fund Inc/The 75,000.000 $1,421,250.00 3.49%
TDF 88018T101 Templeton Dragon Fund Inc 75,000.000 $1,397,250.00 3.43%
GGZ 36249W104 Gabelli Global Small and Mid Cap Value T 134,412.000 $1,395,196.56 3.43%
HGLB 43010T104 HIGHLAND GLOBAL ALLOCATION FUND 171,000.000 $1,374,840.00 3.38%
CAF 617468103 Morgan Stanley China A Share Fund Inc 72,000.000 $1,332,000.00 3.27%
KMF 48661E108 KAYNE ANDERSON MID= STREAM/ENE 153,000.000 $1,317,330.00 3.23%
IRR 92913C106 VOYA NATURAL RESOURCES EQUITY 391,000.000 $1,294,210.00 3.18%
SMM 79471V105 Salient Midstream & MLP Fund 214,000.000 $1,266,880.00 3.11%
IRL 645673104 New Ireland Fund Inc /The 140,000.000 $1,198,764.00 2.94%
BIF 101507101 BOULDER GROTH & INCOME FUND 116,173.000 $1,188,449.79 2.92%
ASA G3156P103 ASA Gold and Preciou s Metals Ltd 91,951.000 $1,133,755.83 2.78%
JEQ 00306J109 ABERDEEN JAPAN EQUITY FUND 168,442.000 $1,123,508.14 2.76%
SWZ 870875101 SWISS HELVETIA FUND 129,350.000 $1,063,257.00 2.61%
NDP 89148K101 TORTOISE ENERGY INDEPENDENCE 197,200.000 $536,384.00 1.32%
VCIF 92535C104 VERTICAL CAPITAL INCOME FUND 48,992.000 $507,557.12 1.25%
CHN 169373107 China Fund Inc/The 23,135.000 $468,252.40 1.15%
FIGXX 316175108 Fidelity Investments Money Market Funds 282,828.690 $282,828.69 0.69%
GRF 269451100 EAGLE CAPITAL GROWTH FUND 38,955.000 $278,528.25 0.68%
JOF 47109U104 JAPAN SMALLER CAPITALIZATION 33,000.000 $264,825.00 0.65%
IDE 92912X101 VOYA INFASTRUCTURE 12,282.000 $123,679.74 0.30%
GF 644465106 NEW GERMANY FUND 6,247.000 $86,958.24 0.21%
SPYUF G8757F131 Terra Capital PLC/Fu nd 32,003.000 $32,003.00 0.08%
IGD 92912T100 Voya Global Equity Div and Prem Opportu 3,326.000 $18,293.00 0.04%

Totals 4,106,750.690 $40,721,976.66