RIVERNORTH CAPITAL MANAGEMENT, LLC

Hedge Fund • Multi-Strategy

RIVERNORTH CAPITAL MANAGEMENT, LLC is a Multi-Strategy Hedge Fund based in Salt Lake City, UT led by Patrick William Galley, reporting $6.2B in AUM as of Q3 2025 with 92% Unknown concentration and minimal technology exposure.

CEOPatrick William Galley

Portfolio Value: $1.7B
Positions: 297
Top Holding: MHD at 2.95%
Last Reported: Q3 2025

Address623 E Fort Union Blvd., Suite 101, Salt Lake City, UT, 84047, United States

Top Holdings

Largest long holdings in RIVERNORTH CAPITAL MANAGEMENT, LLC's portfolio (24% of total portfolio)

See all holdings

GthenH

Holding	Sector	Position	Weight	Traded	Ownership	Owned Since
1 Blackrock Muniholdings Fund MHD	Unknown Unknown	$48.7M	2.95%	+$215.5K Bought	— 4.1M shares	Q4 2022 Held for 2y 11m
2 Blackrock Muniyield Fund MYD	Unknown Unknown	$48.3M	2.92%	+$4.4K Bought	— 4.6M shares	Q4 2022 Held for 2y 11m
3 Invesco Municipal Trust VKQ	Unknown Unknown	$42.3M	2.56%	+$8.3M Bought	— 4.4M shares	Q4 2022 Held for 2y 11m
4 PML PIMCO Municipal Income Fund II PML	Unknown Unknown	$42.1M	2.55%	+$25.4M Bought	— 5.3M shares	Q4 2024 Held for 11 months
5 BLE BlackRock Municipal Income Trust II BLE	Unknown Unknown	$41.1M	2.49%	+$205.6K Bought	— 3.9M shares	Q4 2022 Held for 2y 11m
6 PIMCO Dynamic Income Strategy Fund PDX	Unknown Unknown	$39.7M	2.40%	+$132.2K Bought	— 1.6M shares	Q4 2022 Held for 2y 11m
7 Invesco Municipal Opportunity Trust VMO	Unknown Unknown	$35.8M	2.17%	-$5.4M Sold	— 3.7M shares	Q2 2025 Held for 5 months
8 Western Asset Managed Municipals Fund MMU	Unknown Unknown	$35.6M	2.15%	-$10.6M Sold	— 3.4M shares	Q4 2022 Held for 2y 11m
9 BFK BlackRock Municipal Income Trust BFK	Unknown Unknown	$32.4M	1.96%	-$4.1M Sold	— 3.2M shares	Q4 2022 Held for 2y 11m
10 Blackrock Muni Yield Quality Fund MQY	Unknown Unknown	$30.3M	1.84%	-$1.5M Sold	— 2.6M shares	Q4 2022 Held for 2y 11m

See all holdings

GthenH

Changes

Portfolio activity, position movements, and quarter-over-quarter changes in RIVERNORTH CAPITAL MANAGEMENT, LLC's latest filing

See all changes

GthenC

Market Value

$1.7B

Prior: $1.6B

Q/Q Change

+5.93%

+$92.5M

Net Flows % of MV

-3.18%

Turnover Ratio

28.49%

New Purchases

98 stocks

$276.2M

Added To

30 stocks

+$118.7M

Sold Out Of

70 stocks

$205.1M

Reduced Holdings

90 stocks

-$249.6M

Increased Positions

Position	Shares Δ	Change
1 Howard Hughes HHH	New	0 → 133.7K +$11.0M
2 iShares 10+ Year Investment Grade Corporate Bond IGLB	New	0 → 154.9K +$8.0M
3 ALDF Aldel Financial II Inc. ALDF	New	0 → 599.5K +$6.3M
4 WLAC Willow Lane Acquisition Corp. Class A Ordinary Shares WLAC	New	0 → 499.7K +$5.8M
5 Blue Owl Technology Finance Corp. OTF	New	0 → 408.0K +$5.6M

Decreased Positions

Position	Shares Δ	Change
1 NEA Nuveen AMT-Free Quality Municipal Income Fund NEA	Sold	2.5M → 0 −$27.6M
2 PMX PIMCO Municipal Income Fund III PMX	Sold	2.7M → 0 −$18.3M
3 NZF Nuveen Municipal Credit Income Fund NZF	Sold	810.4K → 0 −$9.7M
4 BioTime BTX	Sold	1.3M → 0 −$9.3M
5 MHI Pioneer Municipal High Income Fund MHI	Sold	1.0M → 0 −$9.2M

See all changes

GthenC

Analytics

Portfolio insights and performance metrics for RIVERNORTH CAPITAL MANAGEMENT, LLC

View analytics

GthenA

Sector Allocation

Financial Services

5.30%

ETF

1.70%

Real Estate

0.70%

Market Cap Distribution

Mid Cap ($2B - $10B)

0.96%

Small Cap ($300M - $2B)

13.44%

Micro Cap ($50M - $300M)

11.55%

Nano Cap (< $50M)

2.25%

N/A (ETF or Unknown)

71.79%

Portfolio Concentration

Top 10 Holdings %

23.99%

Top 20 Holdings %

39.3%

Top 50 Holdings %

62.9%

Top 100 Holdings %

80.73%