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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
+2.65%
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
$1.62B
AUM Growth
-$143M
Cap. Flow
-$274M
Cap. Flow %
-16.98%
Top 10 Hldgs %
30.32%
Holding
425
New
161
Increased
45
Reduced
86
Closed
91

Top Buys

Rank Stock Value
1
HIX
Western Asset High Income Fund II
HIX
+$16.6M
2
OCSL icon
Oaktree Specialty Lending
OCSL
+$13.7M
3
BCSF icon
Bain Capital Specialty
BCSF
+$11M
4
FIV
First Trust Senior Floating Rate 2022 Target Term Fund Common Shares of Beneficial Interest
FIV
+$9.21M
5
CPZ
Calamos Long/Short Equity & Dynamic Income Trust
CPZ
+$8.1M

Top Sells

Rank Stock Value
1
GBDC icon
Golub Capital BDC
GBDC
+$31.3M
2
NEA icon
Nuveen AMT-Free Quality Municipal Income Fund
NEA
+$26M
3
HFRO
Highland Opportunities and Income Fund
HFRO
+$17.9M
4
EIM
Eaton Vance Municipal Bond Fund
EIM
+$17.2M
5
SABA
Saba Capital Income & Opportunities Fund II
SABA
+$14.9M

Sector Composition

Rank Sector Weight
1 Financials 8.07%
2 Technology 1.29%
3 Consumer Discretionary 1%
4 Industrials 0.91%
5 Healthcare 0.66%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
KCAC.U
401
DELISTED
Kensington Capital Acquisition Corp.Units, each consisting of one share of Class A common stock and
KCAC.U
– –
-80,000
Closed -$802K
FVAC.U
402
DELISTED
Fortress Value Acquisition Corp. Units, each consisting of one share of Class A common stock and one
FVAC.U
– –
-108,200
Closed -$1.11M
ORSNU
403
DELISTED
Orisun Acquisition Corp. Unit
ORSNU
– –
-160,000
Closed -$1.61M
CFFAU
404
DELISTED
CF Finance Acquisition Corp. Unit
CFFAU
– –
-10
Closed –
NFINU
405
DELISTED
Netfin Acquisition Corp. Unit
NFINU
– –
-195,721
Closed -$2.46M
KBLMR
406
DELISTED
KBL Merger Corp. IV Rights expiring 11/9/2020
KBLMR
– –
-208,800
Closed -$52K
HCCOU
407
DELISTED
Healthcare Merger Corp. Units
HCCOU
– –
-48,653
Closed -$501K
FTACU
408
DELISTED
FinTech Acquisition Corp. III Unit
FTACU
– –
-146,765
Closed -$1.84M
INSUU
409
DELISTED
Insurance Acquisition Corp. Unit
INSUU
– –
-98,794
Closed -$1.48M
GRAF.WS
410
DELISTED
Graf Industrial Corp. Warrants (each exercisable for three-quarters of one share of common stock, ea
GRAF.WS
– –
-294,385
Closed -$671K
FPAC.WS
411
DELISTED
Far Point Acquisition Corporation Warrants, exercisable for one share of Class A Common Stock for $1
FPAC.WS
– –
-15,909
Closed -$8K
CCH.U
412
DELISTED
Collier Creek Holdings Units, each consisting of one Class A ordinary share, $0.0001 par value, and
CCH.U
– –
-20,000
Closed -$300K
NKLAW
413
DELISTED
Nikola Corporation Warrant expiring 6/3/2025
NKLAW
– –
-149,999
Closed -$4.98M
GPAQW
414
DELISTED
Gordon Pointe Acquisition Corp. Warrant
GPAQW
– –
-159,798
Closed -$348K
LVOXU
415
DELISTED
LiveVox Holding, Inc. Unit
LVOXU
– –
-196,256
Closed -$2.14M
THCAU
416
DELISTED
Tuscan Holdings Corp. II Unit
THCAU
– –
-400,000
Closed -$4.04M
ZGYHU
417
DELISTED
Yunhong International Unit
ZGYHU
– –
-193,024
Closed -$1.94M
LIVKU
418
DELISTED
LIV Capital Acquisition Corp. Unit
LIVKU
– –
-284,062
Closed -$2.91M
BKK
419
DELISTED
Blackrock Municipal 2020 Term Trust
BKK
– –
-17,655
Closed -$265K
13 14 15 16
17

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Rivernorth Capital Management's Q3 2020 Portfolio in Review

As of Q3 2020, Rivernorth Capital Management held 425 positions worth $1.62B, down 8.2% from $1.76B the previous quarter. Its ten largest holdings account for 30% of the portfolio.

Rivernorth Capital Management withdrew a net $274M in Q3 2020, closing 91 positions and reducing 86 holdings. Its most notable exit was Virtus Dividend, Interest & Premium Strategy Fund, an estimated $8.76M position sold in full.

By sector, the portfolio is most concentrated in Financials at 8.1% of assets, up from 5.7% a quarter earlier, followed by Technology and Consumer Discretionary.

Against the trend, Rivernorth Capital Management opened a new position in First Eagle Senior Loan Fund worth $4.55M.

  • Rivernorth Capital Management's largest Q3 2020 buy was First Eagle Senior Loan Fund: 367,079 shares worth $4.55M.
  • Rivernorth Capital Management added most to Western Asset High Income Fund II in Q3 2020, an estimated $16.6M increase.
  • Rivernorth Capital Management's biggest Q3 2020 reduction was Golub Capital BDC, cutting an estimated $31.3M.
  • Rivernorth Capital Management fully exited Virtus Dividend, Interest & Premium Strategy Fund in Q3 2020, selling an estimated $8.76M.
  • Rivernorth Capital Management's ten largest holdings make up 30% of its $1.62B portfolio in Q3 2020.
  • Rivernorth Capital Management opened 161 new positions and closed 91 in Q3 2020.
  • Rivernorth Capital Management's portfolio value fell 8.2% quarter-over-quarter to $1.62B.

Based on Rivernorth Capital Management's 13F filing for Q3 2020, filed 16 Nov 2020.