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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
-0.94%
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
$2.12B
AUM Growth
+$362M
Cap. Flow
+$376M
Cap. Flow %
17.78%
Top 10 Hldgs %
19.87%
Holding
563
New
84
Increased
165
Reduced
84
Closed
86

Top Buys

Rank Stock Value
1
PDI icon
PIMCO Dynamic Income Fund
PDI
+$51.8M
2
UTF icon
Cohen & Steers Infrastructure Fund
UTF
+$28.7M
3
USA icon
Liberty All-Star Equity Fund
USA
+$22.5M
4
JFR icon
Nuveen Floating Rate Income Fund
JFR
+$21.9M
5
OTF
Blue Owl Technology Finance Corp
OTF
+$21.4M

Top Sells

Rank Stock Value
1
NVG icon
Nuveen AMT-Free Municipal Credit Income Fund
NVG
+$25.5M
2
NUV icon
Nuveen Municipal Value Fund
NUV
+$21M
3
NAD icon
Nuveen Quality Municipal Income Fund
NAD
+$18.4M
4
CRF
Cornerstone Total Return Fund
CRF
+$10.4M
5
PHK
PIMCO High Income Fund
PHK
+$8.89M

Sector Composition

Rank Sector Weight
1 Financials 27.35%
2 Real Estate 0.54%
3 Industrials 0.42%
4 Energy 0.25%
5 Consumer Staples 0.14%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
VKQ icon
1
Invesco Municipal Trust
VKQ
$541M
$55.7M 2.63%
5,768,838
+1,390,317
+32% +$13.4M
PDI icon
2
PIMCO Dynamic Income Fund
PDI
$7.39B
$50M 2.36%
+2,821,448
New +$51.8M
MHD icon
3
BlackRock MuniHoldings Fund
MHD
$598M
$49M 2.32%
4,172,151
+29,950
+0.7% +$351K
MYD
4
DELISTED
BlackRock MuniYield Fund
MYD
$48.3M 2.28%
4,605,624
+33,001
+0.7% +$347K
BLE
5
DELISTED
BlackRock Municipal Income Trust II
BLE
$41.2M 1.95%
3,945,514
+7,985
+0.2% +$83.4K
VMO icon
6
Invesco Municipal Opportunity Trust
VMO
$651M
$38.7M 1.83%
4,042,713
+335,856
+9% +$3.24M
PML
7
PIMCO Municipal Income Fund II
PML
$485M
$37.9M 1.79%
5,029,911
-298,581
-6% -$2.32M
USA icon
8
Liberty All-Star Equity Fund
USA
$1.79B
$35.4M 1.67%
5,632,499
+3,613,785
+179% +$22.5M
BSTZ icon
9
BlackRock Science and Technology Term Trust
BSTZ
$1.95B
$33M 1.56%
1,458,032
+116,578
+9% +$2.6M
BFK
10
DELISTED
BlackRock Municipal Income Trust
BFK
$31.3M 1.48%
3,116,366
-109,822
-3% -$1.1M
PDX
11
PIMCO Dynamic Income Strategy Fund
PDX
$955M
$30M 1.42%
1,599,012
+7,057
+0.4% +$155K
UTF icon
12
Cohen & Steers Infrastructure Fund
UTF
$3.11B
$28.9M 1.36%
+1,197,230
New +$28.7M
MMU
13
Western Asset Managed Municipals Fund
MMU
$548M
$28.5M 1.35%
2,729,554
-710,517
-21% -$7.38M
OTF
14
Blue Owl Technology Finance Corp
OTF
$4.6B
$28.1M 1.33%
1,934,726
+1,526,695
+374% +$21.4M
MQY icon
15
BlackRock MuniYield Quality Fund
MQY
$805M
$27.6M 1.3%
2,439,445
-165,134
-6% -$1.9M
BTT icon
16
BlackRock Municipal 2030 Target Term Trust
BTT
$1.43B
$26.6M 1.26%
1,166,387
-134,170
-10% -$3.02M
MVT
17
DELISTED
BlackRock MuniVest Fund II
MVT
$25M 1.18%
2,310,860
+22,434
+1% +$241K
MUC icon
18
BlackRock MuniHoldings California Quality Fund
MUC
$996M
$24.5M 1.16%
2,308,887
+821,347
+55% +$8.82M
CGBD icon
19
Carlyle Secured Lending
CGBD
$694M
$23.7M 1.12%
1,900,728
+699,586
+58% +$8.71M
GBDC icon
20
Golub Capital BDC
GBDC
$3.34B
$23.3M 1.1%
1,714,828
+1,189,706
+227% +$16.5M
BIT icon
21
BlackRock Multi-Sector Income Trust
BIT
$698M
$23M 1.09%
1,763,718
+15,322
+0.9% +$202K
SABA
22
Saba Capital Income & Opportunities Fund II
SABA
$220M
$23M 1.09%
2,791,049
-180,481
-6% -$1.58M
MUE
23
DELISTED
BlackRock MuniHoldings Quality Fund II
MUE
$21.8M 1.03%
2,170,922
+19,293
+0.9% +$193K
JFR icon
24
Nuveen Floating Rate Income Fund
JFR
$1.24B
$21.7M 1.03%
+2,772,908
New +$21.9M
PCQ
25
Pimco California Municipal Income Fund
PCQ
$163M
$21.4M 1.01%
2,447,062
+68,766
+3% +$605K
1
2 3 4 5

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Rivernorth Capital Management's Q4 2025 Portfolio in Review

As of Q4 2025, Rivernorth Capital Management held 563 positions worth $2.12B, up 21% from $1.75B the previous quarter. Its ten largest holdings account for 20% of the portfolio.

Rivernorth Capital Management deployed $376M of net new capital in Q4 2025, opening 84 new positions and adding to 165 existing holdings. Its largest new stake was PIMCO Dynamic Income Fund: 2,821,448 shares worth $50M.

By sector, the portfolio is most concentrated in Financials at 27% of assets, up from 26% a quarter earlier, followed by Real Estate and Industrials.

On the sell side, the largest reduction was Nuveen AMT-Free Municipal Credit Income Fund, an estimated $25.5M trimmed.

  • Rivernorth Capital Management's largest Q4 2025 buy was PIMCO Dynamic Income Fund: 2,821,448 shares worth $50M.
  • Rivernorth Capital Management added most to Liberty All-Star Equity Fund in Q4 2025, an estimated $22.5M increase.
  • Rivernorth Capital Management's biggest Q4 2025 reduction was Nuveen AMT-Free Municipal Credit Income Fund, cutting an estimated $25.5M.
  • Rivernorth Capital Management fully exited Nuveen Quality Municipal Income Fund in Q4 2025, selling an estimated $18.4M.
  • Rivernorth Capital Management's ten largest holdings make up 20% of its $2.12B portfolio in Q4 2025.
  • Rivernorth Capital Management opened 84 new positions and closed 86 in Q4 2025.
  • Rivernorth Capital Management's portfolio value rose 21% quarter-over-quarter to $2.12B.

Based on Rivernorth Capital Management's 13F filing for Q4 2025, filed 17 Feb 2026.