RIVERNORTH CAPITAL MANAGEMENT, LLC
Registered adviserCIK
1447578
Location
WEST PALM BEACH, FL
Portfolio Value
Mid
$2,025,635,191
Diversification
Diversified
Filing Date
Global Rank
#1,571
/ 8,817
▼ 77
Top Industry
Asset Management
65.7%
Period ended 4 months ago
Filed Aug 14, 2026 · 2mo
26 quarters · since Mar 2020
Regulatory profile
From Form ADV, the SEC filer profile, 13D/13G type codes and N-CEN, never from the name.
Holder type
Registered adviser
Form ADV roster, Oct 1, 2026
Regulatory AUM
$6,167,773,294
Main clients
Registered funds and BDCs
(75% of AUM)
Private funds
5 funds
· Hedge funds
Focus by fund count, roster of Oct 1, 2026
$1,080,504,242 gross assets
Registered funds advised
10 series
(0 index, 0 ETFs)
$2,840,703,836 net assets· N-CEN Jun 30, 2026
LEI
549300GSJH8NAH5BFT73
Private funds on Schedule D 7.B.(1)
As filed Jul 5, 2024; SEC's bulk Form ADV archive ends with 2024 filings.
$1,088,962,439 gross assets in 5 funds
Hedge funds
$1,088,962,439
(5)
Form ADV history
Monthly rosters from Dec 2019; each row is a run with the same figures, newest first.
| Rosters | Regulatory AUM | Main clients |
|---|---|---|
| Apr 2026 to Oct 2026 | $6,167,773,294 | Registered funds and BDCs (75%) |
| Apr 2025 to Mar 2026 | $6,181,636,447 | Registered funds and BDCs (77%) |
| Apr 2024 to Mar 2025 | $6,811,694,579 | Registered funds and BDCs (68%) |
| May 2023 to Mar 2024 | $5,990,433,827 | Registered funds and BDCs (79%) |
| Apr 2023 | $5,990,433,827 | Registered funds and BDCs (79%) |
| Apr 2022 to Mar 2023 | $6,479,826,398 | Registered funds and BDCs (80%) |
3 earlier changes not shown.
Portfolio style
Measured from the filed 13F common-share book for Jun 30, 2026, never from the firm's own description.
Style
Diversified active
Top 10 weight 29.6%, 67.0 effective positions, active share 97.8% against every 13F filer's combined book; it meets none of the index-like, systematic-like or concentrated tests
Turnover
High turnover
104.7% over the last four quarters (100%+)
Horizon
Horizon unknown
The value-weighted holding period is at least 7.8 quarters, but 3.8% of the book was already held when coverage starts
Closest benchmark: every 13F filer's combined book, active share 97.8%; sector active share 83.6% against the combined 13F book's sector weights.
Over time 26 measured quarters
How the bands are measured
Style bands measure the filed 13F common-share book each closed quarter, tested in this order. Unknown: under $10,000,000 of valued equity or 5 stocks. Index-like (100+ stocks): active share of 20% or less against the closest benchmark, which is the S&P 500, S&P MidCap 400, S&P SmallCap 600, Russell 1000, Russell 2000, Nasdaq-100 or Dow Jones Industrial Average (weighted by an index-tracking fund's reported holdings or the index's constituents nearest the quarter end, over the names resolved to companies, and only when those are 90%+ of its weight) or every 13F filer's combined book, or index series holding 80%+ of the registered fund assets it advises (N-CEN) and equal to 50%+ of its book. Systematic-like: 500+ stocks, 100%+ annual turnover and a top 10 weight of 25% or less. Concentrated: a top 10 weight of 60%+ or 12 or fewer effective positions. Diversified active: none of these. Turnover is the smaller of buys and sells over average equity value, summed over four quarters: low under 30%, high 100%+. Horizon is the value-weighted number of quarters each position has been held: short under 4, long 12+.
Clone Performance
Build a hypothetical price-return history from this filer's public 13F holdings.
View clone backtestPortfolio Concentration
537 tracked positions · as of Jun 30, 2026 · Δ vs Mar 31, 2026Top Position
7.0%
−0.5 pts
Top 5
19.9%
−0.2 pts
Top 10
29.6%
+0.8 pts
HHI
149
Diversified−3
Portfolio Trend
26 quarters · across all stocks
Sector Breakdown
As of Jun 30, 2026| Sector | % Portfolio | Value |
|---|---|---|
| Financial Services | 94.9% | $1,922,342,946 |
| Unclassified | 4.1% | $82,821,491 |
| Consumer Cyclical | 0.3% | $6,493,986 |
| Real Estate | 0.3% | $6,076,650 |
| Utilities | 0.2% | $4,165,955 |
| Industrials | 0.1% | $2,551,944 |
| Healthcare | 0.0% | $622,700 |
| Technology | 0.0% | $453,716 |
| Basic Materials | 0.0% | $98,138 |
| Communication Services | 0.0% | $7,665 |
| Energy | 0.0% | $0 |
| Consumer Defensive | 0.0% | $0 |
Last Quarter's Activity
Export CSVAdded To
Positions the filer increased
25 positions
| Ticker | Company | Δ Shares | Shares | Value | Open |
|---|---|---|---|---|---|
| OTF | Blue Owl Technology Finance Corp. | +1,612,583 | 3,788,852 | $39,214,618 | |
| FSCO | FS Credit Opportunities Corp. | +1,435,590 | 5,444,012 | $27,165,619 | |
| BBN | BlackRock Taxable Municipal Bond Trust | +1,389,024 | 1,622,646 | $26,238,185 | |
| GOF | Guggenheim Strategic Opportunities Fund | +778,095 | 2,666,430 | $29,117,415 | |
| TSLX | Sixth Street Specialty Lending, Inc. | +678,646 | 969,599 | $16,648,014 | |
| MFM | Aberdeen Municipal Income Fund | +601,827 | 1,509,877 | $8,485,508 | |
| MUA | Blackrock Muniassets Fund, Inc. | +555,694 | 868,104 | $9,557,825 | |
| FSSL | FS Specialty Lending Fund | +484,934 | 2,800,048 | $31,220,535 | |
| MMT | Aberdeen Multi-Market Income Fund | +381,763 | 718,955 | $3,163,402 | |
| PHK | Pimco High Income Fund | +288,790 | 736,603 | $3,432,569 | |
| PMO | Franklin Municipal Opportunities Trust | +263,219 | 949,042 | $10,002,902 | |
| DSM | Bny Mellon Strategic Municipal Bond Fund, Inc. | +260,230 | 1,920,587 | $11,811,610 | |
| PML | Pimco Municipal Income Fund II | +231,386 | 4,482,914 | $34,114,975 | |
| DHF | Bny Mellon High Yield Strategies Fund | +200,598 | 567,426 | $1,373,170 | |
| CSQ | Calamos Strategic Total Return Fund | +179,071 | 351,534 | $7,227,539 | |
| BTX | BlackRock Technology & Private Equity Term Trust | +167,458 | 2,737,496 | $24,719,588 | |
| VFL | abrdn National Municipal Income Fund | +92,516 | 308,511 | $0 | |
| NUW | Nuveen AMT-Free Municipal Value Fund | +85,291 | 504,767 | $7,258,549 | |
| PCN | Pimco Corporate & Income Strategy Fund | +73,709 | 428,965 | $5,126,131 | |
| BMEZ | BlackRock Health Sciences Term Trust | +64,620 | 873,816 | $13,413,075 | |
| PCQ | Pimco California Municipal Income Fund | +63,012 | 2,575,012 | $23,097,857 | |
| SBI | Western Asset Intermediate Muni Fund Inc. | +43,628 | 1,231,561 | $9,692,385 | |
| PCM | Pcm Fund, Inc. | +32,732 | 512,236 | $2,858,276 | |
| MMD | NYLIM MacKay DefinedTerm Muni Opportunities Fund | +30,815 | 99,375 | $1,540,312 | |
| DSL | DoubleLine Income Solutions Fund | +21,835 | 170,093 | $1,881,228 | |
| No positions match the current search. | |||||
Trimmed
Positions the filer reduced
25 positions
| Ticker | Company | Δ Shares | Shares | Value | Open |
|---|---|---|---|---|---|
| VKQ | Invesco Municipal Trust | −1,637,091 | 2,749,965 | $27,609,648 | |
| MUC | Blackrock Muniholdings California Quality Fund, Inc. | −1,192,308 | 1,066,052 | $11,715,911 | |
| GLO | Clough Global Opportunities Fund | −1,153,113 | 1,081,372 | $6,617,996 | |
| VMO | Invesco Municipal Opportunity Trust | −1,028,952 | 1,703,324 | $16,811,807 | |
| USA | Liberty All Star Equity Fund | −863,302 | 4,332,937 | $25,174,363 | |
| MQY | Blackrock Muniyield Quality Fund, Inc. | −805,024 | 7,094,331 | $82,294,239 | |
| EIC | Eagle Point Income Co | −749,059 | 25,000 | $251,750 | |
| BIT | BlackRock Multi-Sector Income Trust | −731,079 | 487,034 | $6,097,665 | |
| GLQ | Clough Global Equity Fund | −704,357 | 523,377 | $4,511,509 | |
| UTF | Cohen & Steers Infrastructure Fund Inc | −554,082 | 58,094 | $1,602,813 | |
| MHD | Blackrock Muniholdings Fund, Inc. | −518,454 | 11,987,371 | $142,649,714 | |
| MYI | Blackrock Muniyield Quality Fund III, Inc. | −493,372 | 4,760,961 | $52,894,276 | |
| CUB | Lionheart Holdings | −408,310 | 107,687 | $1,159,788 | |
| BTT | BlackRock Municipal 2030 Target Term Trust | −388,401 | 493,001 | $11,215,772 | |
| HYT | Blackrock Corporate High Yield Fund, Inc. | −369,771 | 5,529,831 | $47,335,353 | |
| SWZ | Total Return Securities Fund | −320,830 | 10,189 | $60,522 | |
| XFLT | XAI Floating Rate & Alternative Income Trust | −293,023 | 91,734 | $1,609,931 | |
| OBDC | Blue Owl Capital Corp | −234,246 | 1,192,576 | $12,963,301 | |
| MMU | Western Asset Managed Municipals Fund Inc. | −181,356 | 1,757,452 | $18,312,649 | |
| NSTR | NorthStar Earth & Space Enterprises, Inc. | −149,806 | 249,701 | $2,551,944 | |
| SABA | Saba Capital Income & Opportunities Fund II | −146,011 | 2,711,592 | $22,641,793 | |
| BRW | Saba Capital Income & Opportunities Fund | −142,192 | 1,861,414 | $12,229,489 | |
| AXIN | Axiom Intelligence Acquisition Corp 1 | −109,200 | 90,800 | $938,872 | |
| MYN | Blackrock Muniyield New York Quality Fund, Inc. | −98,655 | 1,624,077 | $16,484,381 | |
| EIM | Eaton Vance Municipal Bond Fund | −97,999 | 1,512,949 | $15,068,972 | |
| No positions match the current search. | |||||
New Positions
Positions the filer opened this quarter
25 positions
| Ticker | Company | Shares | Value | Open |
|---|---|---|---|---|
| PSUS | Pershing Square USA, Ltd. | 2,089,216 | $78,094,894 | |
| GAB | Gabelli Equity Trust Inc | 6,609,367 | $37,409,017 | |
| VTEB | VANGUARD TAX-EXEMPT BOND INDEX FUND | 541,385 | $27,383,253 | |
| PS | Pershing Square Inc. | 450,000 | $14,787,000 | |
| NMZ | Nuveen Municipal High Income Opportunity Fund | 1,049,891 | $11,097,347 | |
| NHS | Neuberger High Yield Strategies Fund Inc. | 1,371,413 | $8,557,617 | |
| CCAP | Crescent Capital BDC, Inc. | 702,796 | $7,674,532 | |
| DHY | Ubs Asset Management High Yield Credit Fund | 3,313,798 | $5,898,560 | |
| QRED | QuasarEdge Acquisition Corp | 550,000 | $5,461,500 | |
| PDI | PIMCO Dynamic Income Fund | 320,522 | $5,352,717 | |
| XRPN | Armada Acquisition Corp. II | 502,222 | $5,233,153 | |
| CAQ | Cambridge Acquisition Corp. | 520,905 | $5,162,168 | |
| ARCI | Archimedes Tech SPAC Partners III Co. | 500,000 | $5,005,000 | |
| NHIV | NewHold Investment Corp IV | 500,000 | $5,000,000 | |
| GLED | GalaxyEdge Acquisition Corp | 500,000 | $4,970,000 | |
| FGII | FG Imperii Acquisition Corp. | 500,000 | $4,965,000 | |
| MUZE | Muzero Acquisition Corp | 500,000 | $4,965,000 | |
| HCIC | Hennessy Capital Investment Corp. VIII | 500,000 | $4,965,000 | |
| MLAA | Mountain Lake Acquisition Corp. II | 499,531 | $4,960,342 | |
| GIX | GigCapital9 Corp. | 499,531 | $4,960,342 | |
| MCAH | Mountain Crest Acquisition 6 Corp. | 499,592 | $4,955,952 | |
| CTAA | Clearthink 1 Acquisition Corp. | 500,000 | $4,955,000 | |
| LEGO | Legato Merger Corp. IV | 499,386 | $4,953,909 | |
| BWIV | Blue Water Acquisition Corp. IV | 500,000 | $4,950,000 | |
| ILLU | Illumination Acquisition Corp. I | 499,998 | $4,949,980 | |
| No positions match the current search. | ||||
Sold Out
Positions the filer fully exited
25 positions
| Ticker | Company | Shares | Value | Open |
|---|---|---|---|---|
| FSK | FS KKR Capital Corp | 2,097,170 | $21,349,190 | |
| MSDL | Morgan Stanley Direct Lending Fund | 1,052,351 | $14,690,819 | |
| OCSL | Oaktree Specialty Lending Corp | 1,279,906 | $14,462,937 | |
| CGBD | Carlyle Secured Lending, Inc. | 1,272,507 | $13,921,226 | |
| PSBD | Palmer Square Capital BDC Inc. | 834,603 | $8,154,071 | |
| BXSL | Blackstone Secured Lending Fund | 244,289 | $5,787,206 | |
| ARCC | Ares Capital Corp | 319,326 | $5,754,254 | |
| CAQUU | Cambridge Acquisition Corp. | 520,907 | $5,188,233 | |
| SZZL | Sizzle Acquisition Corp. II | 497,500 | $5,114,300 | |
| GIXXU | GigCapital9 Corp. | 500,000 | $5,025,000 | |
| SUMAU | SUMA Acquisition Corp | 500,000 | $5,010,000 | |
| HCICU | Hennessy Capital Investment Corp. VIII | 500,000 | $5,000,000 | |
| ARCIU | Archimedes Tech SPAC Partners III Co. | 500,000 | $5,000,000 | |
| CTAAU | Clearthink 1 Acquisition Corp. | 500,000 | $5,000,000 | |
| FGIIU | FG Imperii Acquisition Corp. | 500,000 | $4,995,000 | |
| MUZEU | Muzero Acquisition Corp | 500,000 | $4,965,000 | |
| MLAAU | Mountain Lake Acquisition Corp. II | 500,000 | $4,965,000 | |
| ILLUU | Illumination Acquisition Corp. I | 500,000 | $4,960,000 | |
| BHAVU | BHAV Acquisition Corp | 495,000 | $4,940,100 | |
| FACT | FACT II Acquisition Corp. | 459,023 | $4,819,741 | |
| PGAC | PANTAGES CAPITAL ACQUISITION Corp | 450,000 | $4,716,000 | |
| TMS | Teamshares Inc | 452,500 | $4,706,000 | |
| ATII | Archimedes Tech SPAC Partners II Co. | 427,500 | $4,450,275 | |
| GFUZ | General Fusion Group Ltd. | 432,502 | $4,394,220 | |
| DMAA | Drugs Made In America Acquisition Corp. | 417,998 | $4,380,619 | |
| No positions match the current search. | ||||
537 tracked positions ·
$2,025,635,191 total
· filing declares
585 positions · $2,103,360,300
· as of Jun 30, 2026
All sectors
Basic Materials
Communication Services
Consumer Cyclical
Consumer Defensive
Energy
Financial Services
Healthcare
Industrials
Real Estate
Technology
Utilities
Showing 1–50
of 537 positions by value
· page 1 of 11
| Ticker | Company | Type | Shares | Value (USD) | % of Portfolio | History |
|---|---|---|---|---|---|---|
| MHD |
Blackrock Muniholdings Fund, Inc.
Financial Services
|
Reduced | 11,987,371 | $142,649,714 | 7.04% | |
| MQY |
Blackrock Muniyield Quality Fund, Inc.
Financial Services
|
Reduced | 7,094,331 | $82,294,239 | 4.06% | |
| PSUS |
Pershing Square USA, Ltd.
Financial Services
|
NEW | 2,089,216 | $78,094,894 | 3.86% | |
| MYI |
Blackrock Muniyield Quality Fund III, Inc.
Financial Services
|
Reduced | 4,760,961 | $52,894,276 | 2.61% | |
| HYT |
Blackrock Corporate High Yield Fund, Inc.
Financial Services
|
Reduced | 5,529,831 | $47,335,353 | 2.34% | |
| BSTZ |
BlackRock Science & Technology Term Trust
Financial Services
|
Added | 1,511,481 | $45,389,774 | 2.24% | |
| OTF |
Blue Owl Technology Finance Corp.
Financial Services
|
Added | 3,788,852 | $39,214,618 | 1.94% | |
| GAB |
Gabelli Equity Trust Inc
Financial Services
|
NEW | 6,609,367 | $37,409,017 | 1.85% | |
| MUB |
iShares National Muni Bond ETF
|
Added | 340,663 | $36,662,152 | 1.81% | |
| PML |
Pimco Municipal Income Fund II
Financial Services
|
Added | 4,482,914 | $34,114,975 | 1.68% | |
| FSSL |
FS Specialty Lending Fund
Financial Services
|
Added | 2,800,048 | $31,220,535 | 1.54% | |
| GOF |
Guggenheim Strategic Opportunities Fund
Financial Services
|
Added | 2,666,430 | $29,117,415 | 1.44% | |
| VKQ |
Invesco Municipal Trust
Financial Services
|
Reduced | 2,749,965 | $27,609,648 | 1.36% | |
| VTEB |
VANGUARD TAX-EXEMPT BOND INDEX FUND
|
NEW | 541,385 | $27,383,253 | 1.35% | |
| FSCO |
FS Credit Opportunities Corp.
Financial Services
|
Added | 5,444,012 | $27,165,619 | 1.34% | |
| BBN |
BlackRock Taxable Municipal Bond Trust
Financial Services
|
Added | 1,622,646 | $26,238,185 | 1.30% | |
| USA |
Liberty All Star Equity Fund
Financial Services
|
Reduced | 4,332,937 | $25,174,363 | 1.24% | |
| BTX |
BlackRock Technology & Private Equity Term Trust
Financial Services
|
Added | 2,737,496 | $24,719,588 | 1.22% | |
| PCQ |
Pimco California Municipal Income Fund
Financial Services
|
Added | 2,575,012 | $23,097,857 | 1.14% | |
| PDX |
PIMCO Dynamic Income Strategy Fund
Financial Services
|
Reduced | 1,101,509 | $22,933,417 | 1.13% | |
| SABA |
Saba Capital Income & Opportunities Fund II
Financial Services
|
Reduced | 2,711,592 | $22,641,793 | 1.12% | |
| MMU |
Western Asset Managed Municipals Fund Inc.
Financial Services
|
Reduced | 1,757,452 | $18,312,649 | 0.90% | |
| VMO |
Invesco Municipal Opportunity Trust
Financial Services
|
Reduced | 1,703,324 | $16,811,807 | 0.83% | |
| TSLX |
Sixth Street Specialty Lending, Inc.
Financial Services
|
Added | 969,599 | $16,648,014 | 0.82% | |
| MYN |
Blackrock Muniyield New York Quality Fund, Inc.
Financial Services
|
Reduced | 1,624,077 | $16,484,381 | 0.81% | |
| EIM |
Eaton Vance Municipal Bond Fund
Financial Services
|
Reduced | 1,512,949 | $15,068,972 | 0.74% | |
| PS |
Pershing Square Inc.
Financial Services
|
NEW | 450,000 | $14,787,000 | 0.73% | |
| FTHY |
First Trust High Yield Opportunities 2027 Term Fund
Financial Services
|
Added | 1,022,036 | $14,001,893 | 0.69% | |
| BMEZ |
BlackRock Health Sciences Term Trust
Financial Services
|
Added | 873,816 | $13,413,075 | 0.66% | |
| OBDC |
Blue Owl Capital Corp
Financial Services
|
Reduced | 1,192,576 | $12,963,301 | 0.64% | |
| LEO |
Bny Mellon Strategic Municipals, Inc.
Financial Services
|
Added | 2,006,388 | $12,961,266 | 0.64% | |
| BRW |
Saba Capital Income & Opportunities Fund
Financial Services
|
Reduced | 1,861,414 | $12,229,489 | 0.60% | |
| AFB |
Alliancebernstein National Municipal Income Fund
Financial Services
|
Reduced | 1,047,724 | $11,954,530 | 0.59% | |
| RMT |
Royce Micro-Cap Trust, Inc.
Financial Services
|
Reduced | 813,982 | $11,916,696 | 0.59% | |
| TONT |
Graf Global Corp.
Financial Services
|
Reduced | 1,097,311 | $11,905,824 | 0.59% | |
| DSM |
Bny Mellon Strategic Municipal Bond Fund, Inc.
Financial Services
|
Added | 1,920,587 | $11,811,610 | 0.58% | |
| MUC |
Blackrock Muniholdings California Quality Fund, Inc.
Financial Services
|
Reduced | 1,066,052 | $11,715,911 | 0.58% | |
| RVT |
Royce Small-Cap Trust, Inc.
Financial Services
|
Added | 607,243 | $11,215,778 | 0.55% | |
| BTT |
BlackRock Municipal 2030 Target Term Trust
Financial Services
|
Reduced | 493,001 | $11,215,772 | 0.55% | |
| NMZ |
Nuveen Municipal High Income Opportunity Fund
Financial Services
|
NEW | 1,049,891 | $11,097,347 | 0.55% | |
| PMO |
Franklin Municipal Opportunities Trust
Financial Services
|
Added | 949,042 | $10,002,902 | 0.49% | |
| NBH |
Neuberger Municipal Fund Inc.
Financial Services
|
Added | 937,491 | $9,890,530 | 0.49% | |
| SBI |
Western Asset Intermediate Muni Fund Inc.
Financial Services
|
Added | 1,231,561 | $9,692,385 | 0.48% | |
| KYN |
Kayne Anderson Energy Infrastructure Fund, Inc.
Financial Services
|
Added | 697,198 | $9,642,248 | 0.48% | |
| MUA |
Blackrock Muniassets Fund, Inc.
Financial Services
|
Added | 868,104 | $9,557,825 | 0.47% | |
| MPA |
Blackrock Muniyield Pennsylvania Quality Fund
Financial Services
|
Reduced | 814,371 | $9,259,398 | 0.46% | |
| NHS |
Neuberger High Yield Strategies Fund Inc.
Financial Services
|
NEW | 1,371,413 | $8,557,617 | 0.42% | |
| MFM |
Aberdeen Municipal Income Fund
Financial Services
|
Added | 1,509,877 | $8,485,508 | 0.42% | |
| CCAP |
Crescent Capital BDC, Inc.
Financial Services
|
NEW | 702,796 | $7,674,532 | 0.38% | |
| PNI |
Pimco New York Municipal Income Fund II
Financial Services
|
Reduced | 1,044,735 | $7,407,171 | 0.37% |
Showing the top 50 of 537 positions. Create a free account to see every position, past quarters, search, filters and CSV export.
Covers the securities this platform tracks: U.S.-listed common stock and the put/call positions reported on it. A 13F can also report security types outside that coverage — preferred shares, bonds, warrants, untracked share classes — so the filing's own declared total can exceed the figures above. The source filing is linked at the top of this table.