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RCM

Rivernorth Capital Management Portfolio holdings

AUM $2B
1-Year Est. Return 0.66%
This Fund
S&P 500
This Quarter Est. Return
-16.65%
1 Year Est. Return
-0.66%
3 Year Est. Return
+4.95%
5 Year Est. Return
-8.55%
10 Year Est. Return
+11.89%
AUM
$1.49B
AUM Growth
-$173M
Cap. Flow
+$140M
Cap. Flow %
9.39%
Top 10 Hldgs %
27.23%
Holding
322
New
59
Increased
70
Reduced
57
Closed
50

Top Buys

Rank Stock Value
1
GBDC icon
Golub Capital BDC
GBDC
+$21.2M
2
ARCC icon
Ares Capital
ARCC
+$20.4M
3
WIW
Western Asset Inflation-Linked Opportunities & Income Fund
WIW
+$19.5M
4
EIM
Eaton Vance Municipal Bond Fund
EIM
+$18.5M
5
RQI icon
Cohen & Steers Quality Income Realty Fund
RQI
+$17.1M

Top Sells

Rank Stock Value
1
BTZ icon
BlackRock Credit Allocation Income Trust
BTZ
+$26M
2
NEA icon
Nuveen AMT-Free Quality Municipal Income Fund
NEA
+$20.2M
3
EMD
Western Asset Emerging Markets Debt Fund
EMD
+$16.5M
4
EVV
Eaton Vance Limited Duration Income Fund
EVV
+$15M
5
GLO
Clough Global Opportunities Fund
GLO
+$11.5M

Sector Composition

Rank Sector Weight
1 Financials 5.06%
2 Technology 0.39%
3 Communication Services 0.38%
4 Healthcare 0.29%
5 Industrials 0.19%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
NAD icon
1
Nuveen Quality Municipal Income Fund
NAD
$2.74B
$75.6M 5.06%
5,499,636
+284,929
+5% +$4.12M
NEA icon
2
Nuveen AMT-Free Quality Municipal Income Fund
NEA
$3.38B
$56.7M 3.8%
4,184,226
-1,421,331
-25% -$20.2M
WIW
3
Western Asset Inflation-Linked Opportunities & Income Fund
WIW
$508M
$46.9M 3.14%
4,903,585
+1,746,973
+55% +$19.5M
EVV
4
Eaton Vance Limited Duration Income Fund
EVV
$1.06B
$39.4M 2.64%
3,726,767
-1,208,808
-24% -$15M
HIO
5
Western Asset High Income Opportunity Fund
HIO
$335M
$34M 2.28%
8,081,584
-1,599,123
-17% -$7.67M
EIM
6
Eaton Vance Municipal Bond Fund
EIM
$493M
$33.8M 2.26%
2,704,527
+1,440,689
+114% +$18.5M
EHI
7
Western Asset Global High Income Fund
EHI
$175M
$31.8M 2.13%
4,249,413
+1,003,170
+31% +$9.49M
BWG
8
BrandywineGLOBAL Global Income Opportunities Fund
BWG
$130M
$31.5M 2.11%
2,986,012
-219,482
-7% -$2.7M
BBDC icon
9
Barings BDC
BBDC
$874M
$29.5M 1.98%
3,946,404
+1,131,152
+40% +$10.7M
GHY
10
PGIM Global High Yield Fund
GHY
$477M
$27.5M 1.84%
2,482,017
-184,254
-7% -$2.58M
NVG icon
11
Nuveen AMT-Free Municipal Credit Income Fund
NVG
$2.68B
$27.4M 1.83%
1,865,500
+309,952
+20% +$5M
BRW
12
Saba Capital Income & Opportunities Fund
BRW
$339M
$26.6M 1.78%
3,582,588
+453,248
+14% +$4.3M
DSU icon
13
BlackRock Debt Strategies Fund
DSU
$597M
$26.2M 1.75%
3,096,596
+185,199
+6% +$1.93M
HFRO
14
Highland Opportunities and Income Fund
HFRO
$417M
$25M 1.68%
2,932,617
+206,126
+8% +$2.4M
MYI icon
15
BlackRock MuniYield Quality Fund III
MYI
$710M
$24.3M 1.62%
1,897,474
-79,227
-4% -$1.07M
JQC icon
16
Nuveen Credit Strategies Income Fund
JQC
$710M
$23.6M 1.58%
4,169,593
-838,757
-17% -$5.8M
NAC icon
17
Nuveen California Quality Municipal Income Fund
NAC
$1.82B
$21.9M 1.47%
1,600,463
+974,094
+156% +$14.3M
SABA
18
Saba Capital Income & Opportunities Fund II
SABA
$222M
$21.4M 1.43%
1,998,134
-723,980
-27% -$8.5M
VTA
19
DELISTED
INVESCO DYNAMIC CREDIT OPPORTUNITIES FUND
VTA
$17.7M 1.19%
2,223,331
+177,174
+9% +$1.87M
DUC
20
DELISTED
Duff & Phelps Utility & Corporate Bond Trust
DUC
$17M 1.14%
2,028,860
+1,727,400
+573% +$15.7M
VGM icon
21
Invesco Trust Investment Grade Municipals
VGM
$551M
$16.9M 1.13%
1,397,539
+237,984
+21% +$3.03M
GBDC icon
22
Golub Capital BDC
GBDC
$3.41B
$16.7M 1.12%
1,358,621
+1,296,835
+2,099% +$21.2M
EMD
23
Western Asset Emerging Markets Debt Fund
EMD
$609M
$16.4M 1.1%
1,555,312
-1,216,288
-44% -$16.5M
BTZ icon
24
BlackRock Credit Allocation Income Trust
BTZ
$936M
$15.2M 1.02%
1,299,457
-1,925,869
-60% -$26M
VVR icon
25
Invesco Senior Income Trust
VVR
$459M
$14.5M 0.97%
4,491,902
+773,513
+21% +$3.06M
1
2 3 4 5

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Rivernorth Capital Management's Q1 2020 Portfolio in Review

As of Q1 2020, Rivernorth Capital Management held 322 positions worth $1.49B, down 10% from $1.67B the previous quarter. Its ten largest holdings account for 27% of the portfolio.

Rivernorth Capital Management deployed $140M of net new capital in Q1 2020, opening 59 new positions and adding to 70 existing holdings. Its largest new stake was Ares Capital: 1,211,881 shares worth $13.1M.

By sector, the portfolio is most concentrated in Financials at 5.1% of assets, up from 2.4% a quarter earlier, followed by Technology and Communication Services.

On the sell side, the largest reduction was BlackRock Credit Allocation Income Trust, an estimated $26M trimmed.

  • Rivernorth Capital Management's largest Q1 2020 buy was Ares Capital: 1,211,881 shares worth $13.1M.
  • Rivernorth Capital Management added most to Golub Capital BDC in Q1 2020, an estimated $21.2M increase.
  • Rivernorth Capital Management's biggest Q1 2020 reduction was BlackRock Credit Allocation Income Trust, cutting an estimated $26M.
  • Rivernorth Capital Management fully exited Clough Global Opportunities Fund in Q1 2020, selling an estimated $11.5M.
  • Rivernorth Capital Management's ten largest holdings make up 27% of its $1.49B portfolio in Q1 2020.
  • Rivernorth Capital Management opened 59 new positions and closed 50 in Q1 2020.
  • Rivernorth Capital Management's portfolio value fell 10% quarter-over-quarter to $1.49B.

Based on Rivernorth Capital Management's 13F filing for Q1 2020, filed 18 May 2020.