RIVERNORTH CAPITAL MANAGEMENT LLC's Q1 2023 13F: 139 new positions, 218 exits

Form 13F-HR for the quarter ended Mar 31, 2023 · filed May 15, 2023 · 635 reported positions · accession 0001398344-23-009851

View the filing on SEC.gov

What changed this quarter

Activity Security Weight before Weight now Change Shares Shares %
Reduced NUVEEN AMT FREE QLTY MUN INC (NEA) 4.7% 3.5% −1.2 pts −2.66M sh −29%
Increased NUVEEN AMT FREE MUN CR INC F (NVG) 0.6% 1.8% +1.2 pts +2.13M sh +203%
Reduced NUVEEN QUALITY MUNCP INCOME (NAD) 4.0% 3.3% −0.7 pts −1.57M sh −21%
Increased NUVEEN PFD & INCOME SECS FD (JPS) 1.8% 2.7% +0.9 pts +2.8M sh +49%
Increased PIMCO DYNAMIC INCOME FD (PDI) 0.3% 1.1% +0.8 pts +891K sh +284%
Reduced PIMCO DYNAMIC INCOME OPRNTS (PDO) 2.1% 1.6% −0.6 pts −1.08M sh −29%
Reduced PEPPERLIME HEALTH ACQUSTN CO (PEPL) 0.7% 0.1% −0.6 pts −1.29M sh −87%
Increased PIMCO HIGH INCOME FD (PHK) 0.3% 0.9% +0.6 pts +2.59M sh +196%
Increased WESTERN AST INFL LKD OPP & I (WIW) 0.9% 1.5% +0.6 pts +1.28M sh +60%
Exited JAWS MUSTANG ACQUISITION COR (JWSMF) 0.6% — −0.6 pts −1.23M sh −100%
Reduced ARMADA ACQUISITION CORP I (AACI) 0.7% 0.2% −0.5 pts −1.14M sh −76%
Exited COHEN & STEERS TAX ADVAN PFD (PTA) 0.5% — −0.5 pts −687K sh −100%
Increased BLACKROCK ESG CAP ALLC TR (ECAT) 3.3% 4.6% +1.3 pts +656K sh +12%
Reduced NUVEEN CR STRATEGIES INCOME (JQC) 0.9% 0.5% −0.4 pts −1.75M sh −46%
Reduced FS KKR CAP CORP (FSK) 0.9% 0.6% −0.3 pts −479K sh −41%
Exited INVESCO EXCH TRADED FD TR II (PCEF) 0.4% — −0.4 pts −504K sh −100%
New PIMCO INCOME STRATEGY FD II (PFN) — 0.4% +0.4 pts +1.08M sh new
Increased CHURCHILL CAPITAL CORP VII (CVII) 0.4% 0.8% +0.4 pts +723K sh +74%
Increased BLACKROCK MUN TARGET TERM TR (BTT) 1.1% 1.6% +0.4 pts +317K sh +27%
Exited SVF INVESTMENT CORP (SVFA) 0.3% — −0.3 pts −718K sh −100%
Increased SCREAMING EAGLE ACQUISITN CO (SCRM) 0.0% 0.3% +0.3 pts +663K sh +4880%
Exited DELAWARE IVY HIGH INCOME OPP (IVH) 0.3% — −0.3 pts −655K sh −100%
Increased INVESCO MUN OPPORTUNITY TR (VMO) 0.4% 0.7% +0.3 pts +662K sh +74%
Reduced NUVEEN CORE PLUS IMPACT FUND (NPCT) 0.6% 0.3% −0.3 pts −627K sh −48%
Reduced BRANDYWINEGBL GBL INCM OPP F (BWG) 0.6% 0.3% −0.3 pts −802K sh −51%
Reduced NUVEEN MUN VALUE FD INC (NUV) 1.8% 1.7% −0.1 pts −711K sh −15%
Exited SCREAMING EAGLE ACQUISITN CO (SCRMU) 0.3% — −0.3 pts −663K sh −100%
New GORES HOLDINGS IX INC (GHIX) — 0.3% +0.3 pts +578K sh new
New NUVEEN PFD & INCOME OPPORTUN (JPC) — 0.3% +0.3 pts +880K sh new
Exited CC NEUBERGER PRINCIPAL HOLDN (PRPC) 0.3% — −0.3 pts −610K sh −100%
Exited FORTRESS CAPITAL ACQUISITION (FCAX) 0.3% — −0.3 pts −595K sh −100%
Exited CHURCHILL CAPITAL CORP VII (CVII) 0.3% — −0.3 pts −582K sh −100%
Exited FIRST TR INTER DURATN PFD & (FPF) 0.3% — −0.3 pts −343K sh −100%
New PIMCO CALIF MUN INCOME FD II (PCK) — 0.3% +0.3 pts +845K sh new
New FG MERGER CORP (FGMC) — 0.3% +0.3 pts +500K sh new
Exited GORES HOLDINGS IX INC (GHIXU) 0.2% — −0.2 pts −554K sh −100%
Increased INVESCO MUNICIPAL TRUST (VKQ) 0.0% 0.3% +0.2 pts +515K sh +1088%
Exited FAR PEAK ACQUISITION CORP (FPAC) 0.2% — −0.2 pts −545K sh −100%
Reduced FRANKLIN LTD DURATION INCOME (FTF) 0.4% 0.2% −0.2 pts −809K sh −54%
New PIMCO CALIF MUN INCOME FD (PCQ) — 0.2% +0.2 pts +477K sh new
Exited FG MERGER CORP (FGMCU) 0.2% — −0.2 pts −500K sh −100%
Reduced WESTERN ASSET DIVERSIFIED IN (WDI) 0.7% 0.5% −0.1 pts −353K sh −30%
Increased NUVEEN CA QUALTY MUN INCOME (NAC) 2.1% 2.4% +0.4 pts +420K sh +10%
Reduced BLACKROCK MUNIASSETS FD INC (MUA) 0.4% 0.2% −0.2 pts −439K sh −60%
Increased BLACKROCK MUNIYILD QULT FD I (MQY) 0.6% 0.9% +0.3 pts +386K sh +33%
Increased RICE ACQUISITION CORP II (RONI) 0.1% 0.3% +0.2 pts +433K sh +356%
New PIMCO MUN INCOME FD III (PMX) — 0.2% +0.2 pts +531K sh new
Reduced INVESCO TR INVT GRADE MUNS (VGM) 0.7% 0.5% −0.2 pts −441K sh −30%
Exited RICE ACQUISITION CORP II (RONIU) 0.2% — −0.2 pts −433K sh −100%
Increased CF ACQUISITION CORP IV (CFIV) 0.0% 0.2% +0.2 pts +409K sh +2673%

The 50 largest of 518 changes, by size of the trade. Full holdings for this quarter.

Reported by the fund in its Form 13F filed with the SEC; holdings are as of the quarter-end report date and may have changed since. For informational purposes only — not investment advice or a recommendation to buy or sell any security. FilingExplorer is not affiliated with or endorsed by this fund. How this brief is compiled

† Security identifier (CUSIP) changed — read as one continuing position, not an exit and a new position:

  • RF ACQUISITION CORP (RFAC): 74954L203 → 74954L104, 350K → 292K shares (share count changed with the identifier; not shown as a trade)

Top 10 positions — 28.8% of the equity book

Changes in the top 10 this quarter: NVG entered · PDO left

# Security Weight before Weight now
1 BLACKROCK ESG CAP ALLC TR (ECAT) 3.3% 4.6%
2 BLACKROCK CAP ALLOCATION TR (BCAT) 3.4% 4.0%
3 NUVEEN AMT FREE QLTY MUN INC (NEA) 4.7% 3.5%
4 NUVEEN QUALITY MUNCP INCOME (NAD) 4.0% 3.3%
5 NUVEEN MUNICIPAL CREDIT INC (NZF) 2.7% 3.0%
6 NUVEEN PFD & INCOME SECS FD (JPS) 1.8% 2.7%
7 NUVEEN CA QUALTY MUN INCOME (NAC) 2.1% 2.4%
8 NUVEEN AMT FREE MUN CR INC F (NVG) 0.6% 1.8% Entered the top 10
9 BARINGS BDC INC (BBDC) 1.7% 1.8%
10 NUVEEN MUN VALUE FD INC (NUV) 1.8% 1.7%
— PIMCO DYNAMIC INCOME OPRNTS (PDO) 2.1% 1.6% Left the top 10

Weights are each position's reported value as a share of the fund's reported equity positions (options and principal-amount holdings excluded).