RIVERNORTH CAPITAL MANAGEMENT, LLC Q3 2025 Filing

Filed November 14, 2025

Portfolio Value

$1.8B

Holdings

479

Report Date

Q3 2025

Filing Type

13F-HR

All Holdings (479 positions)

#	Stock	Shares	Value	% Portfolio
1	MHDBLACKROCK MUNIHOLDINGS FD IN	4,142,201	$48.7M	2.77%
2	MYDBLACKROCK MUNIYIELD FD INC	4,572,623	$48.3M	2.75%
3	VKQINVESCO MUNICIPAL TRUST	4,378,521	$42.3M	2.41%
4	PMLPIMCO MUN INCOME FD II	5,328,492	$42.1M	2.40%
5	BLEBLACKROCK MUNI INCOME TR II	3,937,529	$41.1M	2.35%
6	PDXPIMCO DYNAMIC INCOME STRATEG	1,591,955	$39.7M	2.26%
7	VMOINVESCO MUN OPPORTUNITY TR	3,706,857	$35.8M	2.04%
8	MMUWESTERN ASSET MANAGED MUNS F	3,440,071	$35.6M	2.03%
9	BFKBLACKROCK MUN INCOME TR	3,226,188	$32.4M	1.85%
10	MQYBLACKROCK MUNIYILD QULT FD I	2,604,579	$30.3M	1.73%
11	BSTZBLACKROCK SCIENCE & TECHNOLO	1,341,454	$29.7M	1.69%
12	BTTBLACKROCK MUN TARGET TERM TR	1,300,557	$29.2M	1.67%
13	NVGNUVEEN AMT FREE MUN CR INC F	2,314,335	$28.4M	1.62%
14	SABASABA CAPITAL INCOME & OPPORT	2,971,530	$27.1M	1.55%
15	NUVNUVEEN MUN VALUE FD INC	2,950,991	$26.5M	1.51%
16	MVTBLACKROCK MUNIVEST FD II INC	2,288,426	$24.3M	1.39%
17	BITBLACKROCK MULTI SECTOR INC T	1,748,396	$23.4M	1.33%
18	MYIBLACKROCK MUNIYIELD QUALITY	1,970,176	$21.8M	1.24%
19	MUCBLACKROCK MUNIHOLDINGS QUALI	2,151,629	$21.6M	1.23%
20	XPCQXPIMCO CALIF MUN INCOME FD	2,378,296	$20.7M	1.18%
21	MVFBLACKROCK MUNIVEST FD INC	2,782,505	$19.1M	1.09%
22	NADNUVEEN QUALITY MUNCP INCOME	1,577,514	$18.4M	1.05%
23	BINCBLACKROCK ETF TRUST II	343,889	$18.3M	1.04%
24	FFC0OAKTREE SPECIALTY LENDING CO	1,320,677	$17.2M	0.98%
25	GLOCLOUGH GLOBAL OPPORTUNITIES	2,986,407	$17.0M	0.97%
26	MUCBLACKROCK MUNIHLDNGS CALI QL	1,487,540	$16.1M	0.92%
27	MSDLMORGAN STANLEY DIRECT LENDIN	989,127	$15.9M	0.91%
28	FTHYFIRST TR HIGH YIELD OPPRT 20	1,075,686	$15.6M	0.89%
29	WIWWESTERN AST INFL LKD OPP & I	1,699,467	$15.1M	0.86%
30	CGBDCARLYLE SECURED LENDING INC	1,201,142	$15.0M	0.86%
31	PFNPIMCO INCOME STRATEGY FD II	1,961,828	$14.9M	0.85%
32	MQTBLACKROCK MUNIYIELD QUALITY	1,448,205	$14.5M	0.83%
33	LEOBNY MELLON STRATEGIC MUNS IN	2,075,153	$13.0M	0.74%
34	USALIBERTY ALL STAR EQUITY FD	2,018,714	$12.8M	0.73%
35	SDHYPGIM SHORT DUR HIG YLD OPP F	739,278	$12.4M	0.70%
36	PHKPIMCO HIGH INCOME FD	2,417,443	$12.1M	0.69%
37	BKNBLACKROCK INVT QUALITY MUN T	1,054,917	$12.0M	0.68%
38	MPABLACKROCK MUNIYIELD PA QLTY	1,042,864	$11.9M	0.68%
39	GRAFGRAF GLOBAL CORP	1,098,974	$11.6M	0.66%
40	AFBALLIANCEBERNSTEIN NATL MUN I	1,014,157	$11.0M	0.63%
41	HHHHOWARD HUGHES HOLDINGS INC	133,746	$11.0M	0.63%
42	CRFCORNERSTONE TOTAL RETURN FD	1,346,454	$10.8M	0.62%
43	XGLQXCLOUGH GLOBAL EQUITY FD	1,294,882	$9.9M	0.56%
44	BYMBLACKROCK MUN INCOME QUALITY	880,192	$9.6M	0.55%
45	RVTROYCE SMALL CAP TRUST INC	596,845	$9.6M	0.55%
46	SBIWESTERN ASSET INTER MUNI FD	1,216,584	$9.6M	0.55%
47	VGMINVESCO TR INVT GRADE MUNS	941,728	$9.5M	0.54%
48	CMUMFS HIGH YIELD MUN TR	2,579,075	$8.9M	0.51%
49	RMTROYCE MICRO-CAP TR INC	837,781	$8.7M	0.50%
50	MYNBLACKROCK MUNIYIELD N Y QUAL	852,555	$8.5M	0.48%
51	LEGTLEGATO MERGER CORP III	783,724	$8.4M	0.48%
52	CLMCORNERSTONE STRATEGIC INVEST	1,011,315	$8.4M	0.48%
53	NBHNEUBERGER BERMAN MUN FD INC	810,858	$8.4M	0.48%
54	NQPNUVEEN PENNSYLVANIA QLT MUN	687,151	$8.2M	0.47%
55	BCXBLACKROCK RES & COMMODITIES	795,810	$8.1M	0.46%
56	IGLBISHARES TR	154,866	$8.0M	0.46%
57	MHNBLACKROCK MUNIHLDGS NY QLTY	771,240	$7.9M	0.45%
58	PNIPIMCO NEW YORK MUN FD II	1,066,323	$7.4M	0.42%
59	DSMBNY MELLON STRATEGIC MUN BD	1,236,121	$7.3M	0.42%
60	GBDCGOLUB CAP BDC INC	525,122	$7.2M	0.41%
61	CPZCALAMOS LNG SHR EQT DYNAMIC	428,309	$6.9M	0.39%
62	NRKNUVEEN NEW YORK AMT QLT MUNI	628,368	$6.4M	0.37%
63	LPBBLAUNCH TWO ACQUISITION CORP.	599,487	$6.3M	0.36%
64	ALDFALDEL FINL II INC	599,486	$6.3M	0.36%
65	NUWNUVEEN AMT-FREE MUN VALUE FD	429,247	$6.1M	0.35%
66	XAODXABRDN TOTAL DYNAMIC DIVIDEND	641,556	$6.1M	0.35%
67	IFNINDIA FD INC	409,758	$6.0M	0.34%
68	IQIINVESCO QUALITY MUN INCOME T	597,976	$5.9M	0.34%
69	WLACWILLOW LANE ACQUISITION CORP	499,744	$5.8M	0.33%
70	CUBLIONHEART HOLDINGS	544,727	$5.7M	0.33%
71	VCICVINE HILL CAP INVT CORP.	528,394	$5.7M	0.32%
72	OTFBLUE OWL TECHNOLOGY FIN CORP	408,031	$5.6M	0.32%
73	DMBBNY MELLON MUN BD INFRASTRUC	522,524	$5.6M	0.32%
74	ASPCRA SPAC III ACQUISITION CORP	539,744	$5.6M	0.32%
75	POLEANDRETTI ACQUISITION CORP II	525,332	$5.5M	0.31%
76	EIMEATON VANCE MUN BD FD	552,677	$5.5M	0.31%
77	—SPRING VY ACQUISITION CORP I	517,300	$5.3M	0.30%
78	XRPNARMADA ACQUISITION CORP II	506,333	$5.3M	0.30%
79	TRYBARINGS BDC INC	602,474	$5.3M	0.30%
80	—M3BRIGADE ACQUISITION V CORP	499,487	$5.3M	0.30%
81	BACQBLEICHROEDER ACQUISITION COR	499,744	$5.2M	0.30%
82	FTWEQV VENTURES ACQUISITION COR	499,482	$5.2M	0.30%
83	—NEWBURY STR II ACQUISITION C	499,744	$5.2M	0.30%
84	RDACRISING DRAGON ACQUISITION CO	494,487	$5.2M	0.29%
85	MLACMOUNTAIN LAKE ACQUISITION CO	500,000	$5.2M	0.29%
86	CCCXCHURCHILL CAP CORP X	397,500	$5.1M	0.29%
87	KFIIK&F GROWTH ACQUISITION CORP	499,744	$5.1M	0.29%
88	LOBLIVE OAK ACQUISITION CORP V	499,872	$5.1M	0.29%
89	NHICNEWHOLD INVT CORP III	499,872	$5.1M	0.29%
90	NMPNMP ACQUISITION CORP	511,346	$5.1M	0.29%
91	GSRFGSR IV ACQUISITION CORP	500,000	$5.1M	0.29%
92	—CSLM DIGITA ASSET ACQ CORP I	500,000	$5.0M	0.29%
93	KCHVKOCHAV DEFENSE ACQUI CO	499,872	$5.0M	0.29%
94	FGMCFG MERGER II CORP	500,000	$5.0M	0.28%
95	APACSTONEBRIDGE ACQUISITION II C	495,000	$4.9M	0.28%
96	SOCASOLARIUS CAPITAL ACQU CORP	495,411	$4.9M	0.28%
97	KYNKAYNE ANDERSON ENERGY INFRST	387,544	$4.8M	0.27%
98	HQLABRDN LIFE SCIENCES INVESTOR	307,637	$4.8M	0.27%
99	CAPNCAYSON ACQUISITION CORP	450,000	$4.7M	0.27%
100	—YHN ACQUISITION I LTD	445,000	$4.7M	0.27%

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