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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
RAC.WS
426
Rithm Acquisition Corp Warrants
RAC.WS
$9.97K ﹤0.01%
+16,250
New +$9.34K
KIDZW
427
KIDZ AI Inc Warrants
KIDZW
$143K
$9.91K ﹤0.01%
123,531
– –
CCIIW
428
Cohen Circle Acquisition Corp II Warrant
CCIIW
$9.8K ﹤0.01%
+14,000
New +$10.5K
ONCHW
429
1RT Acquisition Corp Warrant
ONCHW
$1.77M
$9.79K ﹤0.01%
+11,004
New +$11.7K
RMSGW
430
Real Messenger Corp Warrants
RMSGW
$259K
$9.65K ﹤0.01%
165,000
– –
DFLIW icon
431
Dragonfly Energy Holdings Warrant
DFLIW
$32.4K
$9.39K ﹤0.01%
187,500
– –
NVNIW
432
Nvni Group Limited Warrants
NVNIW
$8.92K ﹤0.01%
123,938
– –
OAKUR
433
DELISTED
Oak Woods Acquisition Corp Right
OAKUR
$8.37K ﹤0.01%
66,934
– –
BENFW icon
434
Beneficient Warrant
BENFW
$155K
$8.1K ﹤0.01%
562,494
– –
RFAIR
435
RF Acquisition Corp II Right
RFAIR
$8.01K ﹤0.01%
100,000
– –
ABLVW icon
436
Able View Global Warrant
ABLVW
$121K
$7.97K ﹤0.01%
250,000
– –
GTERW
437
Globa Terra Acquisition Corp Warrants
GTERW
$7.76K ﹤0.01%
+53,502
New +$7.15K
BRLSW icon
438
Borealis Foods Inc Warrant
BRLSW
$7.65K ﹤0.01%
100,000
– –
ALCYW
439
DELISTED
Alchemy Investments Acquisition Corp 1 Warrants
ALCYW
$7.43K ﹤0.01%
61,935
– –
SLND.WS icon
440
Southland Holdings Warrants
SLND.WS
$7.36K ﹤0.01%
38,165
-12,051
-24% -$2.35K
MRNOW
441
Murano Global Investments PLC Warrants
MRNOW
$135K
$7.29K ﹤0.01%
50,000
– –
ONMDW icon
442
OneMedNet Corp Warrant
ONMDW
$6.73K ﹤0.01%
128,631
-18,848
-13% -$641
CYCUW
443
Cycurion Inc Warrant
CYCUW
$268K
$6.6K ﹤0.01%
150,000
– –
ILLRW
444
Triller Group Inc Warrant
ILLRW
$936K
$6.47K ﹤0.01%
122,579
– –
WTGUR
445
Wintergreen Acquisition Corp Rights
WTGUR
$5.95K ﹤0.01%
+37,187
New +$5.28K
RAINW
446
Rain Enhancement Technologies Warrants
RAINW
$638K
$5.64K ﹤0.01%
34,209
– –
SCAGW
447
Scage Future Warrants
SCAGW
$517K
$4.42K ﹤0.01%
+92,950
New +$5.34K
SMXWW
448
SMX (Security Matters) Public Ltd Warrant
SMXWW
$710K
$4.37K ﹤0.01%
197,606
– –
OBAWW
449
Oxley Bridge Acquisition Ltd Warrants
OBAWW
$2.78M
$4.25K ﹤0.01%
+25,000
New +$4.12K
COEPW
450
DELISTED
Coeptis Therapeutics Warrants
COEPW
$3.88K ﹤0.01%
147,970
-1,930
-1% -$51
16 17
18
19 20

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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.