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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
GTENW
401
Gores Holdings X Warrants
GTENW
$8.07M
$28.3K ﹤0.01%
+37,187
New +$30.6K
LWACW
402
LightWave Acquisition Corp Warrants
LWACW
$28.1K ﹤0.01%
+155,747
New +$27.2K
BLUWW
403
Blue Water Acquisition Corp III Warrant
BLUWW
$27.8K ﹤0.01%
+196,101
New +$29.6K
ESHAR
404
DELISTED
ESH Acquisition Corp Right
ESHAR
$25.7K ﹤0.01%
146,934
– –
COLAR
405
Columbus Acquisition Corp Rights
COLAR
$23.7K ﹤0.01%
+197,500
New +$36.6K
OIOWW
406
OIO Group Warrants
OIOWW
$23.6K ﹤0.01%
215,000
– –
MACIW
407
Melar Acquisition Corp I Warrant
MACIW
$23.5K ﹤0.01%
149,999
– –
GCLWW
408
GCL Global Holdings Warrants
GCLWW
$21.7K ﹤0.01%
350,000
– –
BCARW
409
D. Boral ARC Acquisition I Corp Warrant
BCARW
$6.79M
$20.9K ﹤0.01%
+95,000
New +$17.4K
WENNW
410
Wen Acquisition Corp Warrant
WENNW
$20.5K ﹤0.01%
+37,187
New +$23.8K
PACHW
411
Pioneer Acquisition I Corp Warrants
PACHW
$3.04M
$20.1K ﹤0.01%
+91,546
New +$16K
EUDAW icon
412
EUDA Health Holdings Warrant
EUDAW
$195K
$18.6K ﹤0.01%
173,536
-264
-0.2% -$30
AAM.WS
413
DELISTED
AA Mission Acquisition Corp Warrants
AAM.WS
$16K ﹤0.01%
100,000
– –
HPAIW
414
Helport AI Warrants
HPAIW
$14.6K ﹤0.01%
73,801
-1,198
-2% -$231
CHPGR
415
ChampionsGate Acquisition Corp Rights
CHPGR
$14.5K ﹤0.01%
+111,562
New +$16.7K
ATMCW
416
DELISTED
AlphaTime Acquisition Corp Warrant
ATMCW
$14.3K ﹤0.01%
200,000
– –
ANNAW
417
AleAnna Inc Warrant
ANNAW
$7.35M
$14.1K ﹤0.01%
74,118
– –
FACWW
418
Factorial Energy Inc Warrant
FACWW
$8.28M
$13.5K ﹤0.01%
+54,071
New +$14.9K
BOWNR
419
DELISTED
Bowen Acquisition Corp Rights
BOWNR
$12.6K ﹤0.01%
56,000
– –
VNMEW
420
Vendome Acquisition Corp I Warrant
VNMEW
$12.1K ﹤0.01%
+60,496
New +$11.5K
IBACR
421
IB Acquisition Corp Right
IBACR
$12K ﹤0.01%
150,000
– –
OPTXW icon
422
Syntec Optics Holdings Warrant
OPTXW
$21.2M
$11.3K ﹤0.01%
129,670
-840
-0.6% -$69
HSPOW
423
DELISTED
Horizon Space Acquisition I Corp Warrant
HSPOW
$10.7K ﹤0.01%
214,357
– –
GTERR
424
Globa Terra Acquisition Corp Rights
GTERR
$10.7K ﹤0.01%
+71,336
New +$9.89K
OSRHW
425
OSR Health Warrant
OSRHW
$351K
$10.2K ﹤0.01%
250,000
– –
15 16
17
18 19

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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.