RIVERNORTH CAPITAL MANAGEMENT, LLC
Long book
$2.00B
Q1 2026
Positions
542
Top-10 weight
27%
concentration
Last quarter
+5.3%
SPY +14.8%
Turnover
49%
of book per quarter
Strategy in plain words
auto-generated from filingsRIVERNORTH CAPITAL MANAGEMENT, LLC is an institutional manager, specialised in financials (89% of the long book), running a $2.00B US long book across 542 positions.
The portfolio is moderately concentrated (top 10 ≈ 27% of the book). The portfolio is actively managed, with meaningful quarterly turnover. Current anchor positions: BLACKROCK MUNIHOLDINGS FUND, BLACKROCK MUNIYIELD QUALITY, BLACKROCK MUNIYIELD QLTY III, BLACKROCK CORP HI YLD, INVESCO MUNICIPAL TRUST.
Over the last 9 quarters its long book ran on average 2.8pp per quarter behind the S&P 500, beating the index in 2 of 9 quarters. Signal value of individual moves is limited — treat changes as weak evidence.
Implied long-book return vs S&P 500
methodology: positions priced quarterly, no shorts/options Fund long book S&P 500
Q1 2024
+2.1%
Q2 2024
+5.3%
Q3 2024
-2.4%
Q4 2024
+0.7%
Q1 2025
+0.8%
Q2 2025
+2.5%
Q3 2025
+1.4%
Q4 2025
-0.7%
Q1 2026
+5.3%
Sector allocation
Financials 70%
Other 19%
Real estate 4%
Technology 2%
Utilities 1%
Services media 1%
Industrials 1%
Consumer discretionary 1%
Long book by quarter
What does RIVERNORTH CAPITAL own?
Q1 2026 13F| Company | Sector | Shares | Value | % of book | Change |
|---|---|---|---|---|---|
| OTF BLUE OWL TECHNOLOGY FINANCE | — | 2.2M | $27.0M | 1.3% | +12.5% |
| FSK FS KKR CAPITAL CORP | — | 2.1M | $21.3M | 1.1% | +580.7% |
| COMP COMPASS INC - CLASS A | Real estate | 941 | $20.3M | 1.0% | New |
| OBDC BLUE OWL CAPITAL CORP | — | 1.4M | $15.8M | 0.8% | +181.6% |
| MSDL MORGAN STANLEY DIRECT LENDIN | — | 1.1M | $14.7M | 0.7% | +37.6% |
| OCSL OAKTREE SPECIALTY LENDING CO | — | 1.3M | $14.5M | 0.7% | +1.0% |
| CGBD CARLYLE SECURED LENDING INC | — | 1.3M | $13.9M | 0.7% | -33.1% |
| GRAF GRAF GLOBAL CORP-CL A | Financials | 1.1M | $11.8M | 0.6% | Held |
| HHH HOWARD HUGHES HOLDINGS INC | Real estate | 149.2K | $9.4M | 0.5% | +4.3% |
| PSBD PALMER SQUARE CAPITAL BDC IN | — | 834.6K | $8.2M | 0.4% | +43.8% |
| FGMC FG MERGER II CORP | Financials | 643.0K | $6.5M | 0.3% | Held |
| SOCA SOLARIUS CAPITAL ACQUIS-CL A | Financials | 610.6K | $6.2M | 0.3% | Held |
| LPBB LAUNCH TWO ACQUISITION- CL A | Financials | 564.0K | $6.0M | 0.3% | -5.8% |
| GIW GIGCAPITAL8 CORP-A | Financials | 599.5K | $6.0M | 0.3% | New |
| ALDF ALDEL FINANCIAL II INC | Financials | 564.0K | $6.0M | 0.3% | -5.8% |
| BXSL BLACKSTONE SECURED LENDING F | — | 244.3K | $5.8M | 0.3% | New |
| ARCC ARES CAPITAL CORP | — | 319.3K | $5.8M | 0.3% | New |
| CUB LIONHEART HOLDINGS - CL A | Financials | 516.0K | $5.6M | 0.3% | -5.2% |
| TSLX SIXTH STREET SPECIALTY LENDI | — | 291.0K | $5.3M | 0.3% | New |
| SVCC STELLAR V CAPITAL CORP-CL A | Financials | 507.8K | $5.3M | 0.3% | Held |
| TDAC TRANSLATIONAL DEVELOPMENT AC | Financials | 500.0K | $5.3M | 0.3% | Held |
| AIIA AI INFRASTRUCTURE AC-A | Financials | 526.5K | $5.3M | 0.3% | New |
| NTWO NEWBURY STREET II AC-CLASS A | Financials | 499.5K | $5.2M | 0.3% | Held |
| POLE ANDRETTI ACQUISITION CORP -A | Financials | 490.3K | $5.2M | 0.3% | -6.7% |
| NMP NMP ACQUISITION CORP - A | Financials | 511.3K | $5.2M | 0.3% | Held |
| QSEA QUARTZSEA ACQUISITION CORP | Financials | 499.8K | $5.2M | 0.3% | Held |
| NHIC NEWHOLD INVESTMENT COR III-A | Financials | 499.7K | $5.2M | 0.3% | Held |
| RDAC RISING DRAGON ACQUISITION CO | Financials | 494.5K | $5.2M | 0.3% | Held |
| SZZL SIZZLE ACQUISITION CORP-CL A | Financials | 497.5K | $5.1M | 0.3% | Held |
| KCHV KOCHAV DEFENSE ACQUISITION-A | Financials | 497.5K | $5.1M | 0.3% | Held |
| BIXI BITCOIN INFRASTRUCTURE-CL A | Financials | 512.0K | $5.1M | 0.3% | New |
| HCAC HALL CHADWICK ACQUISITION-A | Financials | 511.3K | $5.1M | 0.3% | New |
| AEAQ ACTIVATE ENERGY ACQUISITIO-A | Financials | 512.0K | $5.1M | 0.3% | New |
| IGAC INVEST GREEN ACQUISITIO-CL A | Financials | 511.3K | $5.1M | 0.3% | New |
| KFII K&F GROWTH ACQUISITION COR-A | Financials | 484.5K | $5.1M | 0.3% | -4.9% |
| EVAC EQV VENTURES ACQUISITION C-A | Financials | 498.4K | $5.0M | 0.3% | Held |
| KOYN CSLM DIGITAL ASSET ACQU - A | Financials | 499.5K | $5.0M | 0.3% | New |
| BPAC BLUEPORT ACQUISITION LT-CL A | Financials | 500.0K | $5.0M | 0.3% | New |
| APAC STONEBRIDGE ACQUISITION CL A | Financials | 494.5K | $5.0M | 0.2% | New |
13F filing history
| Period | Form | Filed | Entries | Reported value | Flags | Source |
|---|---|---|---|---|---|---|
| Q1 2026 | 13F-HR | May 15, 2026 | 542 | $2.00B | canonical | SEC ↗ |
| Q4 2025 | 13F-HR | Feb 17, 2026 | 477 | $2.12B | canonical | SEC ↗ |
| Q3 2025 | 13F-HR | Nov 14, 2025 | 479 | $1.75B | canonical | SEC ↗ |
| Q2 2025 | 13F-HR | Aug 14, 2025 | 357 | $1.81B | canonical | SEC ↗ |
| Q1 2025 | 13F-HR | May 15, 2025 | 360 | $1.88B | canonical | SEC ↗ |
| Q4 2024 | 13F-HR | Feb 14, 2025 | 409 | $2.08B | canonical | SEC ↗ |
| Q3 2024 | 13F-HR/ARESTATEMENT | Dec 3, 2024 | 388 | $2.07B | canonical | SEC ↗ |
| Q3 2024 | 13F-HR | Nov 14, 2024 | 395 | $2.04B | SEC ↗ | |
| Q2 2024 | 13F-HR | Aug 14, 2024 | 444 | $2.12B | canonical | SEC ↗ |
| Q1 2024 | 13F-HR | May 15, 2024 | 464 | $2.07B | canonical | SEC ↗ |