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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
PHD
26
DELISTED
Pioneer Floating Rate Fund
PHD
$15.2M 0.94%
1,505,857
+814,785
+118% +$8.07M
EMD
27
Western Asset Emerging Markets Debt Fund
EMD
$609M
$15M 0.93%
1,221,279
-298,462
-20% -$3.83M
BFZ
28
DELISTED
BlackRock CA Municipal Income Trust
BFZ
$14.6M 0.9%
1,103,881
+165,292
+18% +$2.23M
ISD
29
PGIM High Yield Bond Fund
ISD
$418M
$13.9M 0.86%
1,008,254
-165,501
-14% -$2.29M
SOR
30
Source Capital
SOR
$383M
$13.5M 0.83%
365,627
+32,263
+10% +$1.17M
NXDT
31
NexPoint Diversified Real Estate Trust
NXDT
$247M
$13M 0.81%
1,506,236
-568,846
-27% -$5.45M
VMO icon
32
Invesco Municipal Opportunity Trust
VMO
$662M
$12.1M 0.75%
993,978
-49,010
-5% -$604K
AFB
33
AllianceBernstein National Municipal Income Fund
AFB
$316M
$11.6M 0.72%
831,603
+203,721
+32% +$2.79M
EDD
34
Morgan Stanley Emerging Markets Domestic Debt Fund
EDD
$384M
$11.1M 0.69%
1,993,617
-89,034
-4% -$514K
FEI
35
DELISTED
FIRST TRUST MLP AND ENERGY INCOME FUND
FEI
$11.1M 0.68%
2,382,442
+518,680
+28% +$2.7M
MHN
36
DELISTED
BlackRock MuniHoldings New Yrok Quality Fund
MHN
$10.3M 0.64%
765,665
-48,957
-6% -$671K
FIV
37
DELISTED
First Trust Senior Floating Rate 2022 Target Term Fund Common Shares of Beneficial Interest
FIV
$10.1M 0.62%
1,195,289
+1,083,634
+971% +$9.21M
NUM
38
DELISTED
Nuveen Michigan Quality Municipal Income Fund
NUM
$10M 0.62%
708,645
+281,425
+66% +$3.96M
FSD
39
DELISTED
FIRST TRUST HIGH INCOME LONG/SHORT FUND
FSD
$9.98M 0.62%
716,639
– –
BYM
40
DELISTED
BlackRock Municipal Income Quality Trust
BYM
$9.79M 0.61%
687,557
-1,350
-0.2% -$19.2K
SABA
41
Saba Capital Income & Opportunities Fund II
SABA
$223M
$9.69M 0.6%
905,211
-1,381,429
-60% -$14.9M
NZF icon
42
Nuveen Municipal Credit Income Fund
NZF
$2.43B
$9.57M 0.59%
651,269
-145,821
-18% -$2.19M
TEI
43
Templeton Emerging Markets Income Fund
TEI
$322M
$9.52M 0.59%
1,284,781
+234,519
+22% +$1.79M
HFRO
44
Highland Opportunities and Income Fund
HFRO
$407M
$9.43M 0.58%
1,097,977
-2,123,983
-66% -$17.9M
EVF
45
Eaton Vance Senior Income Trust
EVF
$91.8M
$9.32M 0.58%
1,588,526
-718,458
-31% -$4.11M
GLO
46
Clough Global Opportunities Fund
GLO
$259M
$9.3M 0.58%
996,106
+42,364
+4% +$397K
CPZ
47
Calamos Long/Short Equity & Dynamic Income Trust
CPZ
$270M
$9.16M 0.57%
630,290
+525,901
+504% +$8.1M
JGH icon
48
Nuveen Global High Income Fund
JGH
$357M
$9.05M 0.56%
668,958
-20,825
-3% -$289K
DTF
49
DTF Tax-Free Income 2028 Term Fund
DTF
$80.8M
$8.91M 0.55%
617,154
+77,906
+14% +$1.12M
BSE
50
DELISTED
BLACKROCK NEW YORK MUNICIPAL INCOME QUALITY TRUST
BSE
$8.34M 0.52%
638,280
+22,201
+4% +$298K
1
2
3 4 5

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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.