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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
ASZ.U
901
DELISTED
Austerlitz Acquisition Corporation II Units, each consisting of one Class A ordinary share and one-fourth of one redeemable warrant
ASZ.U
– –
-383,894
Closed -$3.77M
FVT
902
DELISTED
Fortress Value Acquisition Corp. III
FVT
– –
-914,232
Closed -$9.05M
FVIV
903
DELISTED
Fortress Value Acquisition Corp. IV
FVIV
– –
-665,530
Closed -$6.55M
EPWR.WS
904
DELISTED
Empowerment & Inclusion Capital 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
EPWR.WS
– –
-23,560
Closed -$1K
AUS
905
DELISTED
Austerlitz Acquisition Corporation I
AUS
– –
-896,609
Closed -$8.8M
HUGS.WS
906
DELISTED
USHG Acquisition Corp. Warrants, each whole warrant exercisable for one share of Class A Common Stock at an exercise price of $11.50
HUGS.WS
– –
-156,166
Closed -$9K
FVT.U
907
DELISTED
Fortress Value Acquisition Corp. III Units, each consisting of one share of Class A common stock and one-fifth of one Warrant
FVT.U
– –
-109,132
Closed -$1.08M
LAXXR
908
DELISTED
8i Acquisition 2 Corp Rights
LAXXR
– –
-175,000
Closed -$82K
THCAW
909
DELISTED
Tuscan Holdings Corp. II Warrant
THCAW
– –
-198,767
Closed -$14K
AAQC.WS
910
DELISTED
Accelerate Acquisition Corp Warrants
AAQC.WS
– –
-33,332
Closed -$2K
AXH
911
DELISTED
Industrial Human Capital, Inc.
AXH
– –
-100,000
Closed -$1.01M
AXH.WS
912
DELISTED
Industrial Human Capital, Inc. Warrants
AXH.WS
– –
-100,000
Closed -$2K
AGBAR
913
DELISTED
AGBA Acquisition Ltd Right
AGBAR
– –
-145,846
Closed -$20K
ESSCR
914
DELISTED
East Stone Acquisition Corporation Right
ESSCR
– –
-109,092
Closed -$33K
MDH.WS
915
DELISTED
MDH Acquisition Corp. Warrants, each whole warrant exercisable for one share of Class A common stock at an exercise price of $11.50 per share
MDH.WS
– –
-49,999
Closed -$2K
FSNB.WS
916
DELISTED
Fusion Acquisition Corp. II Redeemable Warrants, each whole warrant exercisable for one share of Class A common stock, each at an exercise price of $11.50 per share
FSNB.WS
– –
-16,664
Closed -$1K
NOAC
917
DELISTED
Natural Order Acquisition Corp. Common Stock
NOAC
– –
-461,600
Closed -$4.61M
NOACW
918
DELISTED
Natural Order Acquisition Corp. Warrant
NOACW
– –
-150,000
Closed -$3K
HAAC
919
DELISTED
Health Assurance Acquisition Corp. Class A Common Stock
HAAC
– –
-332,500
Closed -$3.32M
HAACW
920
DELISTED
Health Assurance Acquisition Corp. Warrants
HAACW
– –
-21,250
Closed -$1K
HAACU
921
DELISTED
Health Assurance Acquisition Corp. SAIL Securities
HAACU
– –
-83,289
Closed -$831K
HTAQ
922
DELISTED
Hunt Companies Acquisition Corp. I
HTAQ
– –
-136,899
Closed -$1.39M
BENER
923
DELISTED
Benessere Capital Acquisition Corp. Right
BENER
– –
-195,980
Closed -$27K
CLIM.WS
924
DELISTED
Climate Real Impact Solutions II Acquisition Corporation Redeemable Warrants, each whole Warrant exercisable for one share of Class A Common Stock, each at an exercise price of $11.50 per share
CLIM.WS
– –
-155,000
Closed -$12K
EDNCW
925
DELISTED
Endurance Acquisition Corp. Warrant
EDNCW
– –
-290,000
Closed -$57K
35 36
37
38 39

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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.