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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
+3.25%
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
$1.75B
AUM Growth
-$54.5M
Cap. Flow
-$97M
Cap. Flow %
-5.53%
Top 10 Hldgs %
22.6%
Holding
571
New
214
Increased
30
Reduced
135
Closed
92

Top Buys

Rank Stock Value
1
BIT icon
BlackRock Multi-Sector Income Trust
BIT
+$24.8M
2
PML
PIMCO Municipal Income Fund II
PML
+$23.7M
3
MSDL icon
Morgan Stanley Direct Lending Fund
MSDL
+$14.3M
4
USA icon
Liberty All-Star Equity Fund
USA
+$13.3M
5
PCQ
Pimco California Municipal Income Fund
PCQ
+$13.2M

Top Sells

Rank Stock Value
1
NAD icon
Nuveen Quality Municipal Income Fund
NAD
+$29.5M
2
NEA icon
Nuveen AMT-Free Quality Municipal Income Fund
NEA
+$27.6M
3
NUV icon
Nuveen Municipal Value Fund
NUV
+$20.6M
4
ACP
abrdn Income Credit Strategies Fund
ACP
+$19.8M
5
PMX
PIMCO Municipal Income Fund III
PMX
+$18.3M

Sector Composition

Rank Sector Weight
1 Financials 25.87%
2 Real Estate 0.63%
3 Industrials 0.5%
4 Energy 0.3%
5 Consumer Discretionary 0.28%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
SBXD
151
SilverBox Corp IV
SBXD
$275M
$3.14M 0.18%
299,997
– –
CHAR
152
Charlton Aria Acquisition Corp
CHAR
$117M
$3.11M 0.18%
299,744
-256
-0.1% -$2.64K
INAC
153
Indigo Acquisition Corp
INAC
$152M
$3.1M 0.18%
+311,275
New +$3.1M
LWAC
154
LightWave Acquisition Corp
LWAC
$309M
$3.1M 0.18%
+311,494
New +$3.11M
DRDB
155
Roman DBDR Acquisition Corp II
DRDB
$326M
$3.1M 0.18%
+300,000
New +$3.08M
HVMCU
156
Highview Merger Corp Units
HVMCU
$3.09M 0.18%
+305,739
New +$3.08M
RIBB
157
Ribbon Acquisition Corp
RIBB
$3.07M 0.18%
+300,000
New +$3.06M
MKLYU
158
McKinley Acquisition Corp Units
MKLYU
$158M
$3.05M 0.17%
+305,785
New +$3.05M
AACB
159
Artius II Acquisition Inc
AACB
$292M
$3.04M 0.17%
+299,872
New +$3.04M
DTSQ
160
DT Cloud Star Acquisition Corp
DTSQ
$41.1M
$3.03M 0.17%
289,744
-256
-0.1% -$2.67K
FERA
161
Fifth Era Acquisition Corp I
FERA
$327M
$3.02M 0.17%
+297,500
New +$3.02M
SDHI
162
Siddhi Acquisition Corp
SDHI
$365M
$3.02M 0.17%
+297,500
New +$3.01M
RAAQ
163
DELISTED
Real Asset Acquisition Corp
RAAQ
$3.02M 0.17%
+297,500
New +$3.01M
COPL
164
Copley Acquisition Corp
COPL
$249M
$3.01M 0.17%
+297,500
New +$3M
LCCC
165
Lakeshore Acquisition III Corp
LCCC
$93.6M
$3M 0.17%
+297,500
New +$2.99M
EGHA
166
EGH Acquisition Corp
EGHA
$212M
$2.98M 0.17%
+297,500
New +$2.98M
CRAQ
167
Cal Redwood Acquisition Corp
CRAQ
$2.98M 0.17%
+297,500
New +$2.97M
BRW
168
Saba Capital Income & Opportunities Fund
BRW
$336M
$2.96M 0.17%
381,474
-1,493,729
-80% -$12.3M
PGP
169
PIMCO Global StockPLUS & Income Fund
PGP
$101M
$2.96M 0.17%
345,951
– –
HVII
170
Hennessy Capital Investment Corp VII
HVII
$274M
$2.95M 0.17%
+290,000
New +$2.95M
BTA
171
DELISTED
BlackRock Long-Term Municipal Advantage Trust
BTA
$2.85M 0.16%
297,150
-68,543
-19% -$628K
PFL
172
PIMCO Income Strategy Fund
PFL
$388M
$2.82M 0.16%
331,520
-950,043
-74% -$8.02M
FSK icon
173
FS KKR Capital
FSK
$3.39B
$2.74M 0.16%
+183,819
New +$3.48M
EAD
174
Allspring Income Opportunities Fund
EAD
$381M
$2.66M 0.15%
378,755
-418,435
-52% -$2.96M
PLMK
175
Plum Acquisition Corp IV
PLMK
$256M
$2.62M 0.15%
+253,750
New +$2.61M
5 6
7
8 9

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Rivernorth Capital Management's Q3 2025 Portfolio in Review

As of Q3 2025, Rivernorth Capital Management held 571 positions worth $1.75B, down 3% from $1.81B the previous quarter. Its ten largest holdings account for 23% of the portfolio.

Rivernorth Capital Management withdrew a net $97M in Q3 2025, closing 92 positions and reducing 135 holdings. Its most notable exit was Nuveen AMT-Free Quality Municipal Income Fund, an estimated $27.6M position sold in full.

By sector, the portfolio is most concentrated in Financials at 26% of assets, up from 9.4% a quarter earlier, followed by Real Estate and Industrials.

Against the trend, Rivernorth Capital Management opened a new position in BlackRock Multi-Sector Income Trust worth $23.4M.

  • Rivernorth Capital Management's largest Q3 2025 buy was BlackRock Multi-Sector Income Trust: 1,748,396 shares worth $23.4M.
  • Rivernorth Capital Management added most to PIMCO Municipal Income Fund II in Q3 2025, an estimated $23.7M increase.
  • Rivernorth Capital Management's biggest Q3 2025 reduction was Nuveen Quality Municipal Income Fund, cutting an estimated $29.5M.
  • Rivernorth Capital Management fully exited Nuveen AMT-Free Quality Municipal Income Fund in Q3 2025, selling an estimated $27.6M.
  • Rivernorth Capital Management's ten largest holdings make up 23% of its $1.75B portfolio in Q3 2025.
  • Rivernorth Capital Management opened 214 new positions and closed 92 in Q3 2025.
  • Rivernorth Capital Management's portfolio value fell 3% quarter-over-quarter to $1.75B.

Based on Rivernorth Capital Management's 13F filing for Q3 2025, filed 14 Nov 2025.