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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
KSICW
701
DELISTED
Kadem Sustainable Impact Corporation Warrant
KSICW
$504 ﹤0.01%
50,437
– –
RDZNW icon
702
Roadzen Inc Warrants
RDZNW
$6.79M
$500 ﹤0.01%
49,999
– –
ENTFW
703
DELISTED
Enterprise 4.0 Technology Acquisition Corp. Warrant
ENTFW
$500 ﹤0.01%
24,999
– –
GVCIW
704
DELISTED
Green Visor Financial Technology Acquisition Corp. I Warrants
GVCIW
$500 ﹤0.01%
49,999
– –
MLAIW
705
DELISTED
McLaren Technology Acquisition Corp. Warrant
MLAIW
$500 ﹤0.01%
25,000
– –
SFRWW
706
DELISTED
Appreciate Holdings, Inc. Warrant
SFRWW
$479 ﹤0.01%
15,916
-232
-1% -$25
DFNSW
707
T3 Defense Inc Warrants
DFNSW
$577K
$458 ﹤0.01%
22,888
– –
MLACW
708
DELISTED
Malacca Straits Acquisition Company Limited Warrants
MLACW
$408 ﹤0.01%
20,401
– –
BSLKW
709
DELISTED
Bolt Projects Holdings Warrant
BSLKW
$396 ﹤0.01%
+39,633
New +$1.29K
HGASW
710
DELISTED
Global Gas Corporation Warrant
HGASW
$365 ﹤0.01%
36,487
– –
NAACW
711
DELISTED
North Atlantic Acquisition Corporation Warrant
NAACW
$333 ﹤0.01%
16,665
– –
BGSX.WS
712
DELISTED
Build Acquisition Corp. Redeemable warrants, each whole warrant exercisable for one Class A common stock at an exercise price of $11.50
BGSX.WS
$333 ﹤0.01%
33,330
– –
NSTD.WS
713
DELISTED
Northern Star Investment Corp. IV Redeemable Warrants, each whole warrant exercisable for shares of Class A common stock at an exercise price of $11.50 per share
NSTD.WS
$311 ﹤0.01%
+15,561
New +$484
TWLVW
714
DELISTED
Twelve Seas Investment Company II Warrant
TWLVW
$267 ﹤0.01%
13,331
– –
KRNLW
715
DELISTED
Kernel Group Holdings, Inc. Warrants
KRNLW
$250 ﹤0.01%
25,000
– –
THACW
716
DELISTED
Thrive Acquisition Corporation Warrant
THACW
$250 ﹤0.01%
24,998
– –
BBN icon
717
BlackRock Taxable Municipal Bond Trust
BBN
$986M
– –
-61,014
Closed -$1M
CDIO icon
718
Cardio Diagnostics
CDIO
$5.92M
– –
-3,333
Closed -$1M
CEF icon
719
Sprott Physical Gold and Silver Trust
CEF
$8.33B
– –
-204,367
Closed -$3.18M
CEV
720
Eaton Vance California Municipal Income Trust
CEV
$74.5M
– –
-87,833
Closed -$843K
DFLI icon
721
Dragonfly Energy
DFLI
$18.8M
– –
-2,306
Closed -$2.14M
DMF
722
DELISTED
BNY Mellon Municipal Income
DMF
– –
-525,006
Closed -$3.15M
EMO
723
ClearBridge Energy Midstream Opportunity Fund
EMO
$1.06B
– –
-247,908
Closed -$6.22M
FMN
724
Federated Hermes Premier Municipal Income Fund
FMN
$87M
– –
-70,590
Closed -$730K
GBAB
725
Guggenheim Taxable Municipal Bond & Investment Grade Debt Trust
GBAB
$390M
– –
-13,303
Closed -$205K
27 28
29
30 31

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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.