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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
FCAX.WS
876
DELISTED
Fortress Capital Acquisition Corp. Warrants, each whole warrant exercisable for one Class A ordinary share at an exercise price of $11.50 per share
FCAX.WS
– –
-630,076
Closed -$54K
KAHC.WS
877
DELISTED
KKR Acquisition Holdings I Corp. Redeemable Warrants, each whole Warrant exercisable for one share of Class A Common Stock, each at an exercise price of $11.50 per share
KAHC.WS
– –
-856,919
Closed -$103K
CLIM
878
DELISTED
Climate Real Impact Solutions II Acquisition Corporation
CLIM
– –
-155,000
Closed -$1.53M
OEPW
879
DELISTED
One Equity Partners Open Water I Corp. Class A Common Stock
OEPW
– –
-335,133
Closed -$3.31M
OEPWU
880
DELISTED
One Equity Partners Open Water I Corp. Unit
OEPWU
– –
-57,814
Closed -$570K
OEPWW
881
DELISTED
One Equity Partners Open Water I Corp. Warrant
OEPWW
– –
-51,500
Closed -$3K
ZWRK
882
DELISTED
Z-Work Acquisition Corp. Class A Common Stock
ZWRK
– –
-167,993
Closed -$1.66M
ZWRKW
883
DELISTED
Z-Work Acquisition Corp. Warrant
ZWRKW
– –
-55,931
Closed -$2K
ZWRKU
884
DELISTED
Z-Work Acquisition Corp. Units
ZWRKU
– –
-38,212
Closed -$378K
FSSI
885
DELISTED
Fortistar Sustainable Solutions Corp. Class A Common Stock
FSSI
– –
-179,998
Closed -$1.78M
FSSIW
886
DELISTED
Fortistar Sustainable Solutions Corp. Warrant
FSSIW
– –
-89,999
Closed -$7K
CLRM
887
DELISTED
Clarim Acquisition Corp. Class A Common Stock
CLRM
– –
-19,992
Closed -$198K
LAAAW
888
DELISTED
Lakeshore Acquisition I Corp. Warrant
LAAAW
– –
-59,994
Closed -$12K
CND.WS
889
DELISTED
Concord Acquisition Corp. Warrants, each whole warrant exercisable for one share of Class A Common Stock at an exercise price of $11.50
CND.WS
– –
-22,499
Closed -$13K
ACII
890
DELISTED
Atlas Crest Investment Corp. II
ACII
– –
-24,996
Closed -$246K
SWET
891
DELISTED
Athlon Acquisition Corp. Class A Common stock
SWET
– –
-221,642
Closed -$2.19M
TMAC.U
892
DELISTED
The Music Acquisition Corporation Units, each consisting of one share of Class A common stock and one-half of one redeemable warrant
TMAC.U
– –
-50,000
Closed -$493K
SWETW
893
DELISTED
Athlon Acquisition Corp. Warrant
SWETW
– –
-110,821
Closed -$4K
TSIB
894
DELISTED
Tishman Speyer Innovation Corp. II Class A common stock
TSIB
– –
-32,700
Closed -$322K
PHIC
895
DELISTED
Population Health Investment Co., Inc. Class A Ordinary Share
PHIC
– –
-60,600
Closed -$605K
SBII
896
DELISTED
Sandbridge X2 Corp.
SBII
– –
-91,053
Closed -$896K
SBII.U
897
DELISTED
Sandbridge X2 Corp. Units, each consisting of one share of Class A common stock and one-third of one redeemable warrant
SBII.U
– –
-90,003
Closed -$887K
EQHA.WS
898
DELISTED
EQ Health Acquisition Corp. Redeemable Warrants, each exercisable for one share of Common Stock at an exercise price of $11.50 per share
EQHA.WS
– –
-12,498
Closed -$1K
ASZ
899
DELISTED
Austerlitz Acquisition Corporation II
ASZ
– –
-944,117
Closed -$9.26M
FVIV.U
900
DELISTED
Fortress Value Acquisition Corp. IV Units, each consisting of one share of Class A common stock and one-eighth of one redeemable Warrant
FVIV.U
– –
-164,490
Closed -$1.61M
34 35
36
37 38

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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.