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RCM

Rivernorth Capital Management Portfolio holdings

AUM $2B
1-Year Est. Return 0.79%
This Fund
S&P 500
This Quarter Est. Return
-8.99%
1 Year Est. Return
-0.79%
3 Year Est. Return
+4.8%
5 Year Est. Return
-8.69%
10 Year Est. Return
+11.73%
AUM
$1.68B
AUM Growth
+$480M
Cap. Flow
+$604M
Cap. Flow %
36.01%
Top 10 Hldgs %
26.1%
Holding
319
New
106
Increased
77
Reduced
26
Closed
27

Top Buys

Rank Stock Value
1
NAD icon
Nuveen Quality Municipal Income Fund
NAD
+$31.7M
2
FSK icon
FS KKR Capital
FSK
+$31.6M
3
VMO icon
Invesco Municipal Opportunity Trust
VMO
+$19.7M
4
GER
Goldman Sachs MLP Energy Renaissance Fund
GER
+$19.7M
5
HFRO
Highland Opportunities and Income Fund
HFRO
+$19.2M

Top Sells

Rank Stock Value
1
AOD
abrdn Total Dynamic Dividend Fund
AOD
+$25.2M
2
SPY icon
State Street SPDR S&P 500 ETF Trust
SPY
+$14.3M
3
EDD
Morgan Stanley Emerging Markets Domestic Debt Fund
EDD
+$10.1M
4
WIA
Western Asset Inflation-Linked Income Fund
WIA
+$8.39M
5
KMM
Deutsche Multi-Market Incm Trust
KMM
+$5.79M

Sector Composition

Rank Sector Weight
1 Financials 4.29%
2 Consumer Discretionary 0.85%
3 Healthcare 0.47%
4 Technology 0.46%
5 Communication Services 0.36%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
PCM
226
PCM Fund
PCM
$70M
$268K 0.02%
+26,264
New +$276K
NBH
227
Neuberger Municipal Fund Inc
NBH
$302M
$208K 0.01%
+16,608
New +$213K
BQH
228
DELISTED
BlackRock New York Municipal Bond Trust
BQH
$208K 0.01%
16,420
-13,553
-45% -$171K
CCH.U
229
DELISTED
Collier Creek Holdings Units, each consisting of one Class A ordinary share, $0.0001 par value, and
CCH.U
$201K 0.01%
+20,000
New +$202K
JCO
230
DELISTED
Nuveen Credit Opportunities 2022 Target Term Fund
JCO
$196K 0.01%
+23,000
New +$212K
NHA
231
DELISTED
Nuveen Municipal 2021 Target Term Fund
NHA
$179K 0.01%
+19,256
New +$181K
OMAD.WS
232
DELISTED
One Madison Corporation
OMAD.WS
$156K 0.01%
199,999
– –
MMT
233
Aberdeen Multi-Market Income Fund
MMT
$242M
$150K 0.01%
28,974
-138,369
-83% -$734K
IMXIW
234
DELISTED
International Money Expresss, Inc. Warrant
IMXIW
$150K 0.01%
62,501
– –
EIV
235
DELISTED
Eaton Vance Municipal Bond Fund II
EIV
$146K 0.01%
+13,450
New +$151K
CMU
236
DELISTED
MFS High Yield Municipal Trust
CMU
$135K 0.01%
+32,830
New +$141K
NRCG.WS
237
DELISTED
NRC Group Holdings Corp.
NRCG.WS
$127K 0.01%
+168,750
New +$156K
PACQW
238
DELISTED
Pure Acquisition Corp. Warrant
PACQW
$124K 0.01%
112,498
– –
LACQW
239
DELISTED
Leisure Acquisition Corp. Warrant
LACQW
$123K 0.01%
153,297
– –
HYACW
240
DELISTED
Haymaker Acquisition Corp. Warrant
HYACW
$122K 0.01%
147,498
– –
MEN
241
DELISTED
Blackrock Muni Enhanced Fund, Inc.
MEN
$120K 0.01%
+12,200
New +$120K
CMSSR
242
DELISTED
CM Seven Star Acquisition Corporation Right
CMSSR
$120K 0.01%
300,000
– –
VCV icon
243
Invesco California Value Municipal Income Trust
VCV
$525M
$114K 0.01%
+10,173
New +$115K
BRACW
244
DELISTED
Black Ridge Acquisition Corp. Warrant
BRACW
$102K 0.01%
300,000
– –
WRLSR
245
DELISTED
Pensare Acquisition Corp. Right to purchase 1/10 of common stock
WRLSR
$98K 0.01%
349,994
– –
GDL
246
GDL Fund
GDL
$91.9M
$93K 0.01%
+10,303
New +$92.4K
MTECW
247
DELISTED
MTech Acquisition Corp. Warrant
MTECW
$93K 0.01%
155,000
– –
MUDSW
248
DELISTED
Mudrick Capital Acquisition Corporation Warrant
MUDSW
$92K 0.01%
200,000
– –
BROGR
249
DELISTED
Twelve Seas Investment Company Rights
BROGR
$79K ﹤0.01%
225,000
– –
LTN.RT
250
DELISTED
Union Acquisition Corp.
LTN.RT
$78K ﹤0.01%
200,000
– –
8 9
10
11 12

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Rivernorth Capital Management's Q4 2018 Portfolio in Review

As of Q4 2018, Rivernorth Capital Management held 319 positions worth $1.68B, up 40% from $1.2B the previous quarter. Its ten largest holdings account for 26% of the portfolio.

Rivernorth Capital Management deployed $604M of net new capital in Q4 2018, opening 106 new positions and adding to 77 existing holdings. Its largest new stake was FS KKR Capital: 1,270,668 shares worth $27.1M.

By sector, the portfolio is most concentrated in Financials at 4.3% of assets, up from 2.3% a quarter earlier, followed by Consumer Discretionary and Healthcare.

On the sell side, the largest reduction was State Street SPDR S&P 500 ETF Trust, an estimated $14.3M trimmed.

  • Rivernorth Capital Management's largest Q4 2018 buy was FS KKR Capital: 1,270,668 shares worth $27.1M.
  • Rivernorth Capital Management added most to Nuveen Quality Municipal Income Fund in Q4 2018, an estimated $31.7M increase.
  • Rivernorth Capital Management's biggest Q4 2018 reduction was State Street SPDR S&P 500 ETF Trust, cutting an estimated $14.3M.
  • Rivernorth Capital Management fully exited abrdn Total Dynamic Dividend Fund in Q4 2018, selling an estimated $25.2M.
  • Rivernorth Capital Management's ten largest holdings make up 26% of its $1.68B portfolio in Q4 2018.
  • Rivernorth Capital Management opened 106 new positions and closed 27 in Q4 2018.
  • Rivernorth Capital Management's portfolio value rose 40% quarter-over-quarter to $1.68B.

Based on Rivernorth Capital Management's 13F filing for Q4 2018, filed 14 Feb 2019.