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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
HUBCW icon
451
Hub Cyber Security Warrant 2/27/28
HUBCW
$176K
$3.88K ﹤0.01%
199,850
– –
KITTW icon
452
Nauticus Robotics Warrant
KITTW
$193K
$3.72K ﹤0.01%
84,776
– –
DSYWW
453
Big Tree Cloud Holdings Warrant
DSYWW
$87.8K
$3.45K ﹤0.01%
105,000
– –
BNZIW
454
DELISTED
Banzai International Warrant
BNZIW
$3.4K ﹤0.01%
127,407
– –
PETWW
455
DELISTED
Wag! Group Co Warrant
PETWW
$3.3K ﹤0.01%
600,000
– –
DHAIW
456
DELISTED
DIH Holding US Inc Warrants
DHAIW
$3.25K ﹤0.01%
325,000
– –
SHFSW icon
457
SHF Holdings Warrants
SHFSW
$2.96K ﹤0.01%
87,500
– –
FORLW
458
DELISTED
Four Leaf Acquisition Corp Warrants
FORLW
$2.92K ﹤0.01%
81,934
– –
KVACW
459
DELISTED
Keen Vision Acquisition Corp Warrant
KVACW
$2.91K ﹤0.01%
48,401
– –
SDSTW
460
Stardust Power Inc Warrant
SDSTW
$2.91K ﹤0.01%
38,415
– –
OAKUW
461
DELISTED
Oak Woods Acquisition Corp Warrant
OAKUW
$2.68K ﹤0.01%
66,934
– –
UTF.RT
462
DELISTED
Cohen & Steers Infrastructure Fund Rights exp Oct 16 2025
UTF.RT
$2.68K ﹤0.01%
+34,309
New +$2.59K
AERTW
463
Aeries Technology Warrant
AERTW
$891K
$2.53K ﹤0.01%
62,912
-48,934
-44% -$1.84K
SDAWW
464
SunCar Technology Group Warrant
SDAWW
$2.44K ﹤0.01%
47,560
-14,899
-24% -$892
NIVFW
465
NewGenIvf Group Warrants
NIVFW
$2.38K ﹤0.01%
143,997
– –
CDTTW
466
CDT Equity Inc Warrant
CDTTW
$2.11K ﹤0.01%
200,000
– –
MSPRZ
467
DELISTED
MSP Recovery Inc Warrant
MSPRZ
$2.09K ﹤0.01%
104,388
-13,723
-12% -$296
RMCOW icon
468
Royalty Management Holding Warrant
RMCOW
$1.42M
$1.8K ﹤0.01%
35,592
-13,545
-28% -$642
BSLKW
469
DELISTED
Bolt Projects Holdings Warrant
BSLKW
$1.58K ﹤0.01%
39,633
– –
RDZNW icon
470
Roadzen Inc Warrants
RDZNW
$6.79M
$1.36K ﹤0.01%
19,368
-30,212
-61% -$1.85K
MSAIW icon
471
MultiSensor AI Holdings Warrant
MSAIW
$702K
$1.19K ﹤0.01%
31,218
-24,360
-44% -$750
VSEEW
472
DELISTED
VSEE HEALTH INC WTS 29
VSEEW
$1.01K ﹤0.01%
59,895
-14,468
-19% -$556
COOTW
473
Australian Oilseeds Holdings Ltd Warrant
COOTW
$205K
$775 ﹤0.01%
49,077
– –
MLECW icon
474
Moolec Science SA Warrant
MLECW
$537 ﹤0.01%
47,517
-1,000
-2% -$15
PRENW
475
Prenetics Global Ltd Warrant
PRENW
$130K
$516 ﹤0.01%
20,632
– –
17 18
19
20 21

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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.