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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
+3.25%
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
$1.75B
AUM Growth
-$54.5M
Cap. Flow
-$97M
Cap. Flow %
-5.53%
Top 10 Hldgs %
22.6%
Holding
571
New
214
Increased
30
Reduced
135
Closed
92

Top Buys

Rank Stock Value
1
BIT icon
BlackRock Multi-Sector Income Trust
BIT
+$24.8M
2
PML
PIMCO Municipal Income Fund II
PML
+$23.7M
3
MSDL icon
Morgan Stanley Direct Lending Fund
MSDL
+$14.3M
4
USA icon
Liberty All-Star Equity Fund
USA
+$13.3M
5
PCQ
Pimco California Municipal Income Fund
PCQ
+$13.2M

Top Sells

Rank Stock Value
1
NAD icon
Nuveen Quality Municipal Income Fund
NAD
+$29.5M
2
NEA icon
Nuveen AMT-Free Quality Municipal Income Fund
NEA
+$27.6M
3
NUV icon
Nuveen Municipal Value Fund
NUV
+$20.6M
4
ACP
abrdn Income Credit Strategies Fund
ACP
+$19.8M
5
PMX
PIMCO Municipal Income Fund III
PMX
+$18.3M

Sector Composition

Rank Sector Weight
1 Financials 25.87%
2 Real Estate 0.63%
3 Industrials 0.5%
4 Energy 0.3%
5 Consumer Discretionary 0.28%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
CHPG
226
ChampionsGate Acquisition Corp
CHPG
$104M
$1.12M 0.06%
+111,562
New +$1.12M
TVACU
227
Texas Ventures Acquisition III Corp Unit
TVACU
$1.11M 0.06%
102,372
-297,628
-74% -$3.08M
FAC
228
Factorial Energy Inc
FAC
$638M
$1.09M 0.06%
+108,143
New +$1.08M
DMAAU
229
Drugs Made In America Acquisition Corp Units
DMAAU
$1.06M 0.06%
102,372
-318,126
-76% -$3.33M
FERAU
230
Fifth Era Acquisition Corp I Units
FERAU
$1.06M 0.06%
102,372
-297,628
-74% -$3.11M
TACHU
231
Titan Acquisition Corp Units
TACHU
$1.05M 0.06%
102,372
-397,628
-80% -$4.07M
RAAQU
232
DELISTED
Real Asset Acquisition Corp Unit
RAAQU
$1.05M 0.06%
102,372
-297,628
-74% -$3.08M
SDHIU
233
Siddhi Acquisition Corp Unit
SDHIU
$1.05M 0.06%
102,372
-297,628
-74% -$3.07M
LCCCU
234
Lakeshore Acquisition III Corp Unit
LCCCU
$1.05M 0.06%
102,372
-297,628
-74% -$3.05M
DRDBU
235
Roman DBDR Acquisition Corp II Unit
DRDBU
$1.05M 0.06%
100,000
-300,000
-75% -$3.16M
SZZLU
236
Sizzle Acquisition Corp II Unit
SZZLU
$1.05M 0.06%
102,372
-397,628
-80% -$4.08M
COLAU
237
Columbus Acquisition Corp Unit
COLAU
$1.04M 0.06%
102,372
-197,628
-66% -$2.08M
PELIU
238
DELISTED
Pelican Acquisition Corp Unit
PELIU
$1.04M 0.06%
102,372
-197,628
-66% -$2.02M
CRAQU
239
Cal Redwood Acquisition Corp Units
CRAQU
$1.04M 0.06%
102,372
-297,628
-74% -$3.04M
RIBBU
240
Ribbon Acquisition Corp Unit
RIBBU
$1.04M 0.06%
100,000
-300,000
-75% -$3.14M
QSEAU
241
Quartzsea Acquisition Corp Units
QSEAU
$1.03M 0.06%
102,372
-397,628
-80% -$4.11M
COPL.U
242
Copley Acquisition Corp Units
COPL.U
$1.03M 0.06%
102,372
-297,628
-74% -$3.02M
TDACU
243
Translational Development Acquisition Corp Units
TDACU
$1.03M 0.06%
100,000
-400,000
-80% -$4.17M
VFL
244
DELISTED
abrdn National Municipal Income Fund
VFL
$1.03M 0.06%
100,181
– –
EGHAU
245
EGH Acquisition Corp Unit
EGHAU
$1.02M 0.06%
102,372
-297,628
-74% -$3.04M
OYSEU
246
Oyster Enterprises II Acquisition Corp Units
OYSEU
$1.02M 0.06%
102,372
-397,628
-80% -$4.04M
CHACU
247
DELISTED
Crane Harbor Acquistion Corp Units
CHACU
$1.01M 0.06%
100,000
-433,735
-81% -$4.5M
RFAI
248
RF Acquisition Corp II
RFAI
$92.7M
$1,000K 0.06%
93,099
-414
-0.4% -$4.38K
JRS icon
249
Nuveen Real Estate Income Fund
JRS
$241M
$992K 0.06%
+121,305
New +$961K
VNMEU
250
Vendome Acquisition Corp I Unit
VNMEU
$987K 0.06%
+99,001
New +$990K
8 9
10
11 12

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Rivernorth Capital Management's Q3 2025 Portfolio in Review

As of Q3 2025, Rivernorth Capital Management held 571 positions worth $1.75B, down 3% from $1.81B the previous quarter. Its ten largest holdings account for 23% of the portfolio.

Rivernorth Capital Management withdrew a net $97M in Q3 2025, closing 92 positions and reducing 135 holdings. Its most notable exit was Nuveen AMT-Free Quality Municipal Income Fund, an estimated $27.6M position sold in full.

By sector, the portfolio is most concentrated in Financials at 26% of assets, up from 9.4% a quarter earlier, followed by Real Estate and Industrials.

Against the trend, Rivernorth Capital Management opened a new position in BlackRock Multi-Sector Income Trust worth $23.4M.

  • Rivernorth Capital Management's largest Q3 2025 buy was BlackRock Multi-Sector Income Trust: 1,748,396 shares worth $23.4M.
  • Rivernorth Capital Management added most to PIMCO Municipal Income Fund II in Q3 2025, an estimated $23.7M increase.
  • Rivernorth Capital Management's biggest Q3 2025 reduction was Nuveen Quality Municipal Income Fund, cutting an estimated $29.5M.
  • Rivernorth Capital Management fully exited Nuveen AMT-Free Quality Municipal Income Fund in Q3 2025, selling an estimated $27.6M.
  • Rivernorth Capital Management's ten largest holdings make up 23% of its $1.75B portfolio in Q3 2025.
  • Rivernorth Capital Management opened 214 new positions and closed 92 in Q3 2025.
  • Rivernorth Capital Management's portfolio value fell 3% quarter-over-quarter to $1.75B.

Based on Rivernorth Capital Management's 13F filing for Q3 2025, filed 14 Nov 2025.