RiverNorth Flexible Municipal Income Fund II
RFMZ
57 hedge funds and large institutions have $108M invested in RiverNorth Flexible Municipal Income Fund II in 2026 Q2 according to their latest regulatory filings, with 8 funds opening new positions, 18 increasing their positions, 15 reducing their positions, and 6 closing their positions.
33% more first-time investments, than exits
New positions opened: 8 | Existing positions closed: 6
20% more repeat investments, than reductions
Existing positions increased: 18 | Existing positions reduced: 15
9% more capital invested
Capital invested by funds: $98.7M → $108M (+$9.22M)
0.69% more ownership
Funds ownership: 31.82% → 32.51% (+0.69%)
0% more funds holding
Funds holding: 57 → 57 (0)
0% more funds holding in top 10
Funds holding in top 10: 2 → 2 (0)
Top Buyers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
GC
Guggenheim Capital
Chicago,
Illinois
|
+$4.19M |
| 2 |
Pathstone Holdings
Englewood,
New Jersey
|
+$3.87M |
| 3 |
AW
Atlas Wealth
Cincinnati,
Ohio
|
+$1.72M |
| 4 |
IA
IFC Advisors
Los Angeles,
California
|
+$474K |
| 5 |
PNFS
PW Nova Financial Services
Newtown,
Pennsylvania
|
+$389K |
Top Sellers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
SCM
Saba Capital Management
New York
|
-$3.64M |
| 2 |
GWP
Gateway Wealth Partners
Appleton,
Wisconsin
|
-$2.29M |
| 3 |
UBS Group
Zurich,
Switzerland
|
-$911K |
| 4 |
RP
Riverbridge Partners
Minneapolis,
Minnesota
|
-$884K |
| 5 |
LSC
Logan Stone Capital
Chicago,
Illinois
|
-$851K |
RFMZ Hedge Fund Activity: Q2 2026 in Review
57 of the 8,305 institutional investors tracked by Wall St. Rank reported a position in RiverNorth Flexible Municipal Income Fund II (RFMZ) for Q2 2026, worth a combined $108M — up 9.3% from $98.7M a quarter earlier.
Buyers outnumbered sellers: 8 funds opened new RFMZ positions and 6 closed out — a net gain of 2 holders — while 18 added to existing stakes and 15 trimmed.
The largest buyer was Guggenheim Capital, adding an estimated $4.19M. The largest seller was Saba Capital Management, exiting entirely with an estimated $3.64M sold.
- 57 institutional investors held RiverNorth Flexible Municipal Income Fund II (RFMZ) as of Q2 2026, unchanged from Q1 2026.
- Funds reported $108M of RiverNorth Flexible Municipal Income Fund II stock for Q2 2026, up 9.3% quarter-over-quarter.
- 8 funds opened new RiverNorth Flexible Municipal Income Fund II positions in Q2 2026 and 6 closed out, a net change of +2 holders.
- The largest RiverNorth Flexible Municipal Income Fund II buyer in Q2 2026 was Guggenheim Capital, an estimated $4.19M added.
- The largest RiverNorth Flexible Municipal Income Fund II seller in Q2 2026 was Saba Capital Management, an estimated $3.64M sold.
Based on aggregated 13F filings for Q2 2026.