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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
TYGO icon
751
Tigo Energy
TYGO
$88.3M
– –
-160,000
Closed -$1.6M
VFL
752
DELISTED
abrdn National Municipal Income Fund
VFL
– –
-214,919
Closed -$2.34M
VGAS icon
753
Verde Clean Fuels
VGAS
$28.2M
– –
-190,239
Closed -$1.92M
VTN icon
754
Invesco Trust for Investment Grade New York Municipals
VTN
$166M
– –
-55,381
Closed -$529K
ZVSA
755
DELISTED
ZyVersa Therapeutics
ZVSA
– –
-786
Closed -$2.75M
CERO
756
DELISTED
CERo Therapeutics
CERO
– –
-25
Closed -$505K
VSEE
757
DELISTED
VSEE HEALTH INC
VSEE
– –
-75,000
Closed -$760K
ALSAU
758
DELISTED
Alpha Star Acquisition Corp Units
ALSAU
– –
-97,352
Closed -$1M
MCAGU
759
DELISTED
Mountain Crest Acquisition Corp. V Unit
MCAGU
– –
-215,000
Closed -$2.18M
SPEC
760
DELISTED
Spectaire Holdings, Inc. Common Stock
SPEC
– –
-130,400
Closed -$1.32M
MAQC
761
DELISTED
Maquia Capital Acquisition Corporation Class A Common Stock
MAQC
– –
-112,516
Closed -$1.16M
SEPA
762
DELISTED
SEP Acquisition Corp Class A Common Stock
SEPA
– –
-437,500
Closed -$4.35M
GETR
763
DELISTED
Getaround, Inc.
GETR
– –
-17,995
Closed -$177K
COOL
764
DELISTED
Corner Growth Acquisition Corp. Class A Ordinary Shares
COOL
– –
-174,333
Closed -$1.74M
OSI
765
DELISTED
Osiris Acquisition Corp.
OSI
– –
-196,624
Closed -$1.93M
KSM
766
DELISTED
DWS Strategic Municipal Income Trust
KSM
– –
-151,443
Closed -$1.2M
CONX
767
DELISTED
CONX Corp. Class A Common Stock
CONX
– –
-295,908
Closed -$2.96M
HCMAU
768
DELISTED
HCM Acquisition Corp Unit
HCMAU
– –
-100,000
Closed -$1.01M
EAC
769
DELISTED
Edify Acquisition Corp. Class A Common Stock
EAC
– –
-213,098
Closed -$2.11M
LBBBU
770
DELISTED
Lakeshore Acquisition II Corp. Unit
LBBBU
– –
-20,613
Closed -$211K
SZZLU
771
DELISTED
Sizzle Acquisition Corp. Unit
SZZLU
– –
-445,000
Closed -$4.5M
SLAC
772
DELISTED
Social Leverage Acquisition Corp I Class A Common Stock
SLAC
– –
-148,700
Closed -$1.46M
OHAAU
773
DELISTED
OPY Acquisition Corp. I Units
OHAAU
– –
-120,426
Closed -$1.2M
TBCP
774
DELISTED
Thunder Bridge Capital Partners III Inc. Class A Common Stock
TBCP
– –
-58,240
Closed -$574K
BRD.U
775
DELISTED
Beard Energy Transition Acquisition Corp. Units, each consisting of one share of Class A Common Stock and one-half of one Warrant
BRD.U
– –
-149,900
Closed -$1.51M
29 30
31
32 33

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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.