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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
+3.24%
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
$2.22B
AUM Growth
-$9.14M
Cap. Flow
-$68.7M
Cap. Flow %
-3.1%
Top 10 Hldgs %
27.51%
Holding
975
New
103
Increased
138
Reduced
81
Closed
258

Top Buys

Rank Stock Value
1
NEA icon
Nuveen AMT-Free Quality Municipal Income Fund
NEA
+$34.7M
2
NAD icon
Nuveen Quality Municipal Income Fund
NAD
+$29.4M
3
NUV icon
Nuveen Municipal Value Fund
NUV
+$26.8M
4
NAC icon
Nuveen California Quality Municipal Income Fund
NAC
+$26M
5
BTT icon
BlackRock Municipal 2030 Target Term Trust
BTT
+$21.4M

Top Sells

Rank Stock Value
1
NRK icon
Nuveen New York AMT-Free Quality Municipal Income Fund
NRK
+$41.4M
2
GBDC icon
Golub Capital BDC
GBDC
+$35.8M
3
MUI
BlackRock Municipal Income Fund, Inc.
MUI
+$15.2M
4
VKQ icon
Invesco Municipal Trust
VKQ
+$15M
5
VVR icon
Invesco Senior Income Trust
VVR
+$12.6M

Sector Composition

Rank Sector Weight
1 Financials 19.93%
2 Industrials 1.07%
3 Technology 1.07%
4 Healthcare 0.96%
5 Consumer Discretionary 0.41%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
EIM
26
Eaton Vance Municipal Bond Fund
EIM
$499M
$19.2M 0.87%
1,848,349
-275,749
-13% -$2.73M
FTHY
27
First Trust High Yield Opportunities 2027 Term Fund
FTHY
$498M
$19M 0.86%
1,411,072
-37,250
-3% -$517K
EMD
28
Western Asset Emerging Markets Debt Fund
EMD
$611M
$16.8M 0.76%
1,846,588
-467,372
-20% -$4M
BFZ
29
DELISTED
BlackRock CA Municipal Income Trust
BFZ
$15.4M 0.69%
1,421,150
-74,049
-5% -$783K
PEPL
30
DELISTED
PepperLime Health Acquisition Corporation Class A Ordinary Share
PEPL
$15.2M 0.68%
1,485,000
– –
NHIC
31
DELISTED
NewHold Investment Corp. II Class A Common Stock
NHIC
$15.1M 0.68%
+1,519,513
New +$15.2M
MHD icon
32
BlackRock MuniHoldings Fund
MHD
$604M
$15.1M 0.68%
1,241,865
-177,193
-12% -$2.03M
BLE
33
DELISTED
BlackRock Municipal Income Trust II
BLE
$15M 0.68%
1,455,101
+1,058,453
+267% +$10.7M
AACI
34
DELISTED
Armada Acquisition Corp. I Common Stock
AACI
$15M 0.68%
1,485,000
– –
BYNOU
35
DELISTED
byNordic Acquisition Corporation Units
BYNOU
$15M 0.68%
1,485,000
– –
IQI icon
36
Invesco Quality Municipal Securities
IQI
$533M
$14.9M 0.67%
1,585,850
-91,358
-5% -$855K
MCI
37
Barings Corporate Investors
MCI
$341M
$14.9M 0.67%
1,068,592
-34,924
-3% -$471K
WDI
38
Western Asset Diversified Income Fund
WDI
$681M
$14.7M 0.66%
1,157,824
-23,540
-2% -$304K
VGM icon
39
Invesco Trust Investment Grade Municipals
VGM
$564M
$14.7M 0.66%
1,457,945
-147,696
-9% -$1.41M
BFK
40
DELISTED
BlackRock Municipal Income Trust
BFK
$13.7M 0.62%
1,366,549
+486,775
+55% +$4.74M
NPCT icon
41
Nuveen Core Plus Impact Fund
NPCT
$282M
$13.6M 0.61%
1,316,424
-627,251
-32% -$6.58M
MQY icon
42
BlackRock MuniYield Quality Fund
MQY
$815M
$13.6M 0.61%
1,172,807
+1,082,684
+1,201% +$12.2M
MYD
43
DELISTED
BlackRock MuniYield Fund
MYD
$13M 0.58%
1,246,426
-100,431
-7% -$1.02M
BWG
44
BrandywineGLOBAL Global Income Opportunities Fund
BWG
$131M
$12.8M 0.58%
1,566,289
-51,156
-3% -$411K
NVG icon
45
Nuveen AMT-Free Municipal Credit Income Fund
NVG
$2.68B
$12.7M 0.57%
+1,047,955
New +$12.3M
JWSM
46
DELISTED
Jaws Mustang Acquisition Corp.
JWSM
$12.4M 0.56%
1,225,194
+206,804
+20% +$2.07M
PTA icon
47
Cohen & Steers Tax-Advantaged Preferred Securities & Income Fund
PTA
$1.05B
$12.1M 0.55%
686,730
+400,529
+140% +$7.22M
GHY
48
PGIM Global High Yield Fund
GHY
$479M
$11.9M 0.54%
1,102,025
– –
SDHY
49
PGIM Short Duration High Yield Opportunities Fund
SDHY
$402M
$11.7M 0.53%
799,087
-165,426
-17% -$2.45M
MHI
50
DELISTED
Pioneer Municipal High Income Fund
MHI
$11.6M 0.52%
1,354,302
-170,876
-11% -$1.45M
1
2
3 4 5

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Rivernorth Capital Management's Q4 2022 Portfolio in Review

As of Q4 2022, Rivernorth Capital Management held 975 positions worth $2.22B, down 0.41% from $2.23B the previous quarter. Its ten largest holdings account for 28% of the portfolio.

Rivernorth Capital Management withdrew a net $68.7M in Q4 2022, closing 258 positions and reducing 81 holdings. Its most notable exit was Nuveen New York AMT-Free Quality Municipal Income Fund, an estimated $41.4M position sold in full.

By sector, the portfolio is most concentrated in Financials at 20% of assets, down from 27% a quarter earlier, followed by Industrials and Technology.

Against the trend, Rivernorth Capital Management opened a new position in BlackRock Corporate High Yield Fund worth $20.8M.

  • Rivernorth Capital Management's largest Q4 2022 buy was BlackRock Corporate High Yield Fund: 2,381,391 shares worth $20.8M.
  • Rivernorth Capital Management added most to Nuveen AMT-Free Quality Municipal Income Fund in Q4 2022, an estimated $34.7M increase.
  • Rivernorth Capital Management's biggest Q4 2022 reduction was Golub Capital BDC, cutting an estimated $35.8M.
  • Rivernorth Capital Management fully exited Nuveen New York AMT-Free Quality Municipal Income Fund in Q4 2022, selling an estimated $41.4M.
  • Rivernorth Capital Management's ten largest holdings make up 28% of its $2.22B portfolio in Q4 2022.
  • Rivernorth Capital Management opened 103 new positions and closed 258 in Q4 2022.
  • Rivernorth Capital Management's portfolio value fell 0.41% quarter-over-quarter to $2.22B.

Based on Rivernorth Capital Management's 13F filing for Q4 2022, filed 14 Feb 2023.