Matisse Discounted Closed-End Fund Strategy Institutional CL

Portfolio Holdings as of 5/31/2020

Ticker Cusip Description Shares Market Value % of Portfolio
PSH NA G7016V101 Pershing Square Hold ings Ltd/Fund 790,000.000 $18,328,000.00 8.07%
TPOU LN G8846K109 Third Point Offshore Investors Ltd 770,000.000 $10,818,500.00 4.76%
ADX 006212104 Adams Diversified Equity Fund, Inc. 653,582.000 $9,633,798.68 4.24%
HFRO 43010E404 HIGHLAND INCOME FUND 1,065,000.000 $8,807,550.00 3.88%
NHF 65340G205 NexPoint Strategic O pportunities Fund 849,467.000 $8,443,701.98 3.72%
CAF 617468103 Morgan Stanley China A Share Fund Inc 362,535.000 $6,569,134.20 2.89%
EDD 617477104 Morgan Stanley Emerg ing Markets Domestic 1,077,744.000 $6,121,585.92 2.70%
KMF 48661E108 KAYNE ANDERSON MID= STREAM/ENE 1,226,302.000 $6,119,246.98 2.69%
HQL 87911K100 Tekla Life Sciences Investors 319,311.000 $5,683,735.80 2.50%
FAX 003009107 ABERDEEN ASIA PACIFIC INCOME FUND 1,463,406.000 $5,385,334.08 2.37%
CET 155123102 Central Securities C orp 179,854.000 $5,201,017.97 2.29%
PCEF 46138E404 Invesco CEF Income Composite ETF 246,733.000 $4,863,107.43 2.14%
GAM 368802104 General American Investors Co Inc 152,128.000 $4,778,340.48 2.10%
NRGX 69346N107 PIMCO ENERGY AND TACTICAL CREDIT OPP 564,558.000 $4,646,312.34 2.05%
ASA G3156P103 ASA Gold and Preciou s Metals Ltd 300,000.000 $4,590,000.00 2.02%
HGLB 43010T104 HIGHLAND GLOBAL ALLOCATION FUND 681,000.000 $4,412,880.00 1.94%
CPZ 12812C106 CALAMOS LNG SHRT/ EQ 279,268.000 $4,378,922.24 1.93%
IIF 61745C105 MORGAN STANLEY INDIA INVESTMENT FUND INC 294,679.000 $4,265,478.53 1.88%
GLQ 18914C100 CLOUGH GLOBAL EQUITY FUND 396,000.000 $4,023,360.00 1.77%
BIF 101507101 BOULDER GROTH & INCOME FUND 400,525.000 $3,889,097.75 1.71%
DNI 25538A204 Dividend and Income Fund 370,000.000 $3,844,300.00 1.69%
HQH 87911J103 Tekla Healthcare Investors 169,541.000 $3,597,660.02 1.58%
TEAF 89148A103 TORTOISE ESSENT ASSETS 331,170.000 $3,551,798.25 1.56%
BCX 09257A108 BLACKROCK RESOURCES 594,040.000 $3,528,597.60 1.55%
IGR 12504G100 CBRE Clarion Global Real Estate Income F 581,001.000 $3,462,765.96 1.52%
RIF 76970B101 RMR Real Estate Inco me Fund 297,923.000 $3,449,948.34 1.52%
HIE 600379101 Miller/Howard High Dividend Fund 525,000.000 $3,234,000.00 1.42%
VTA 46132R104 INVESCO DYNAMIC CREDIT OPP FUND 371,000.000 $3,223,990.00 1.42%
JOF 47109U104 JAPAN SMALLER CAPITALIZATION 392,925.000 $3,056,956.50 1.35%
VCIF 92535C104 VERTICAL CAPITAL INCOME FUND 311,000.000 $3,013,590.00 1.33%
GDV 36242H104 Gabelli Dividend & Income Trust/The 165,002.000 $2,930,435.52 1.29%
AIO 01883M101 ALLIANZGI ARTIFICIAL INTEL 147,446.000 $2,749,867.90 1.21%
RSF 76882B108 RIVERNORTH SPECIALTY FINANCE CORP 163,960.000 $2,479,075.20 1.09%
IGA 92912R104 VOYA GLOBAL ADVANTAGE AND PREM 295,709.000 $2,445,513.43 1.08%
SWZ 870875101 SWISS HELVETIA FUND 303,803.000 $2,314,978.86 1.02%
WIW 95766R104 Western Asset Opp & Income Fund 208,950.000 $2,246,212.50 0.99%
RA 112830104 Brookfield Real Asse ts Income Fund Inc 128,812.000 $2,130,550.48 0.94%
KYN 486606106 KAYNE ANDERSON MLP INVESTMENT COMPANY 343,603.000 $2,016,949.61 0.89%
JEQ 00306J109 ABERDEEN JAPAN EQUITY FUND 272,145.000 $2,013,873.00 0.89%
ACV 01883J108 ALLIANZGI DIVERSIFIED INCOME 87,091.000 $1,990,900.26 0.88%
GGZ 36249W104 Gabelli Global Small and Mid Cap Value T 222,047.000 $1,967,336.42 0.87%
PEO 00548F105 Adams Natural Resour ces Fund Inc 175,733.000 $1,938,334.99 0.85%
TWN 874036106 Taiwan Fund Inc/The 93,000.000 $1,790,250.00 0.79%
IDE 92912X101 VOYA INFASTRUCTURE 196,613.000 $1,767,550.87 0.78%
PGZ 74255X104 PRINCIPAL REAL ESTATE INCOME 148,877.000 $1,729,206.36 0.76%
GDL 361570104 GDL Fund/The 205,769.000 $1,718,171.15 0.76%
FEI 33739B104 First Trust MLP and Energy Income Fund 270,837.000 $1,708,981.47 0.75%
GLO 18914E106 CLOUGH GLOBAL OPPORTUNITIES FUND 194,522.000 $1,593,135.18 0.70%
FIGXX 316175108 Fidelity Investments Money Market Funds 1,373,991.700 $1,373,991.70 0.60%
FCT 33733U108 First Trust Senior Floating Rate Income 119,643.000 $1,330,430.16 0.59%
TY 895436103 TRI CONTINENTAL CORPORATION 50,000.000 $1,234,000.00 0.54%
EVF 27826S103 Eaton Vance Senior Income Trust 228,837.000 $1,201,394.25 0.53%
IRL 645673104 New Ireland Fund Inc /The 149,000.000 $1,089,190.00 0.48%
TEI 880192109 Templeton Emerging Markets Income Fund 140,531.000 $1,086,304.63 0.48%
RNP 19247X100 Cohen & Steers REIT and Preferred and In 55,384.000 $1,038,450.00 0.46%
CEE 153436100 Central and Eastern Europe Fund Inc 48,248.000 $1,018,515.28 0.45%
GIM 880198106 Templeton Global Income Fund 176,809.000 $951,232.42 0.42%
NCZ 018825109 AllianzGI Conv & Income II 252,650.000 $939,858.00 0.41%
YYY 032108847 Amplify High Income ETF 57,059.000 $817,084.88 0.36%
BCV 059695106 Bancroft Fund Ltd 30,776.000 $720,466.16 0.32%
JDD 6706EP105 NUVEEN DIVERSIFIED DVD AND INCOME FUND 93,813.000 $704,535.63 0.31%
IGD 92912T100 Voya Global Equity Div and Prem Opportu 140,459.000 $698,081.23 0.31%
RMT 780915104 Royce Micro-Cap Trust Inc 94,556.000 $666,619.80 0.29%
RGT 78081T104 ROYCE GLOBAL VALUE 57,903.000 $650,250.69 0.29%
PHD 72369J102 Pioneer Floating Rate Trust 72,253.000 $648,109.41 0.29%
VVR 46131H107 Invesco Senior Income Trust 188,792.000 $647,556.56 0.29%
XMPT 92189F460 VanEck Vectors CEF Municipal Income 23,870.000 $616,917.76 0.27%
ARDC 04014F102 Ares Dynamic Credit Allocation Fund Inc 52,104.000 $613,264.08 0.27%
RQI 19247L106 Cohen & Steers Quali ty Income Realty Fun 56,860.000 $610,676.40 0.27%
JRI 67074Y105 Nuveen Real Asset In come and Growth Fund 51,646.000 $593,412.54 0.26%
GRX 36246K103 Gabelli Healthcare & WellnessRx Trust/Th 47,848.000 $495,226.80 0.22%
RVT 780910105 ROYAL VALUE TRUST 40,392.000 $491,974.56 0.22%
CUBA 42804T106 HERZFELD CARIBBEAN BASIN FUND 117,719.000 $467,344.43 0.21%
GRF 269451100 EAGLE CAPITAL GROWTH FUND 65,000.000 $447,200.00 0.20%
CHN 169373107 China Fund Inc/The 21,117.000 $426,352.23 0.19%
IFN 454089103 THE INDIA FUND 24,081.000 $355,917.18 0.16%
FEO 33731K102 First Trust Aberdeen Emerging Opportunity 29,629.000 $336,135.08 0.15%
FIF 33738C103 FIRST TRUST ENERGY 30,000.000 $330,900.00 0.15%
JSD 67074X107 Nuveen Short Duration Credit Opp 24,507.000 $289,427.67 0.13%
EMD 95766A101 Western Asset Emerging MarketsDebt 22,789.000 $275,519.01 0.12%
NAZ 67061W104 Nuveen Arizona Quali ty Municipal Income 17,114.000 $228,129.62 0.10%
TDF 88018T101 Templeton Dragon Fund Inc 12,247.000 $221,670.70 0.10%
KF 500634209 THE KOREA FUND 8,350.000 $209,292.75 0.09%
MFD 55607W100 MACQUARIE FIRST TRUE GLOBAL 26,198.000 $207,750.14 0.09%
JRS 67071B108 NUVEEN REAL ESTATE INCOME FUND 24,801.000 $187,743.57 0.08%
EEA 298768102 EUROPEAN EQUITY FUND INC 21,119.000 $169,585.57 0.07%
AEF 00301W105 Aberdeen Emerging Ma rkets Equity Income 24,362.000 $138,132.54 0.06%
AWP 00302L108 ABERDEEN GLOBAL PREMIER PROPERTIES 13,700.000 $62,883.00 0.03%
FEN 33738G104 First Trust Energy Income and Growth 4,499.000 $52,098.42 0.02%
HTY 41013P749 John Hancock Tax Advantaged Global 6,065.000 $32,811.65 0.01%

Totals 23,736,332.700 $227,130,470.74