RiverNorth Flexible Municipal Income Fund II
RFMZ
47 hedge funds and large institutions have $80.5M invested in RiverNorth Flexible Municipal Income Fund II in 2025 Q1 according to their latest regulatory filings, with 4 funds opening new positions, 22 increasing their positions, 11 reducing their positions, and 9 closing their positions.
100% more repeat investments, than reductions
Existing positions increased: 22 | Existing positions reduced: 11
0% more capital invested
Capital invested by funds: $80.4M → $80.5M (+$139K)
0.01% more ownership
Funds ownership: 24.62% → 24.63% (+0.01%)
13% less funds holding
Funds holding: 54 → 47 (-7)
56% less first-time investments, than exits
New positions opened: 4 | Existing positions closed: 9
Top Buyers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
Pathstone Holdings
Englewood,
New Jersey
|
+$2.14M |
| 2 |
AW
Atlas Wealth
Cincinnati,
Ohio
|
+$1.14M |
| 3 |
TJHA
Thomas J. Herzfeld Advisors
Miami Beach,
Florida
|
+$657K |
| 4 |
Envestnet Asset Management
Chicago,
Illinois
|
+$580K |
| 5 |
Rockefeller Capital Management
New York
|
+$541K |
Top Sellers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
IAA
Independent Advisor Alliance
Charlotte,
North Carolina
|
-$1.84M |
| 2 |
WAM
Wolverine Asset Management
Chicago,
Illinois
|
-$1.45M |
| 3 |
UBS Group
Zurich,
Switzerland
|
-$505K |
| 4 |
RAM
Readystate Asset Management
Chicago,
Illinois
|
-$308K |
| 5 |
HF
HRT Financial
New York
|
-$268K |
| Name | Holding | Trade Value |
Shares Change |
Change in Stake |
|
|---|---|---|---|---|---|
|
LCM
51
Landscape Capital Management
Englewood,
New Jersey
| – | -$186K | -13,855 | Closed |
|
52
Nomura Holdings
Tokyo,
Japan
| – | -$174K | -13,000 | Closed |
|
|
NA
53
NewEdge Advisors
New Orleans,
Louisiana
| – | -$153K | -11,400 | Closed |
|
54
Jane Street
New York
| – | -$150K | -11,182 | Closed |
|
|
AWM
55
Avior Wealth Management
Omaha,
Nebraska
| – | -$11.6K | -866 | Closed |
|
56
Bessemer Group
Woodbridge,
New Jersey
| – | -$10K | -752 | Closed |
|
RFMZ Hedge Fund Activity: Q1 2025 in Review
47 of the 7,459 institutional investors tracked by Wall St. Rank reported a position in RiverNorth Flexible Municipal Income Fund II (RFMZ) for Q1 2025, worth a combined $80.5M — up 0.17% from $80.4M a quarter earlier.
Sellers outnumbered buyers: 9 funds closed out of RFMZ and 4 opened new positions — a net loss of 5 holders — while 11 trimmed existing stakes and 22 added.
The largest buyer was Pathstone Holdings, adding an estimated $2.14M. The largest seller was Independent Advisor Alliance, exiting entirely with an estimated $1.84M sold.
- 47 institutional investors held RiverNorth Flexible Municipal Income Fund II (RFMZ) as of Q1 2025, down from 54 in Q4 2024.
- Funds reported $80.5M of RiverNorth Flexible Municipal Income Fund II stock for Q1 2025, up 0.17% quarter-over-quarter.
- 4 funds opened new RiverNorth Flexible Municipal Income Fund II positions in Q1 2025 and 9 closed out, a net change of -5 holders.
- The largest RiverNorth Flexible Municipal Income Fund II buyer in Q1 2025 was Pathstone Holdings, an estimated $2.14M added.
- The largest RiverNorth Flexible Municipal Income Fund II seller in Q1 2025 was Independent Advisor Alliance, an estimated $1.84M sold.
Based on aggregated 13F filings for Q1 2025.