RIVERNORTH CAPITAL MANAGEMENT, LLC Q4 2025 Filing

Filed February 17, 2026

Portfolio Value

$2.1B

Holdings

477

Report Date

Q4 2025

Filing Type

13F-HR

All Holdings (477 positions)

#	Stock	Shares	Value	% Portfolio
1	GRAFGRAF GLOBAL CORP	550,000	$248.0M	11.72%
2	—RANGE CAP ACQUISITION CORP	399,765	$179.0M	8.46%
3	LEGTLEGATO MERGER CORP III	399,484	$163.0M	7.71%
4	FERAFIFTH ERA ACQUISITION CORP I	399,872	$159.0M	7.52%
5	BACCBLUE ACQUISITION CORP.	446,469	$144.0M	6.81%
6	CRAQCAL REDWOOD ACQUISITION CORP	399,872	$129.0M	6.10%
7	MLACMOUNTAIN LAKE ACQUISITION CO	500,000	$120.0M	5.67%
8	KCHVKOCHAV DEFENSE ACQUI CO	499,872	$119.0M	5.63%
9	RDACRISING DRAGON ACQUISITION CO	495,000	$118.0M	5.58%
10	—HENNESSY CAP INVT CORP VII	399,487	$111.0M	5.25%
11	CAPNCAYSON ACQUISITION CORP	450,000	$102.0M	4.82%
12	ASPCRA SPAC III ACQUISITION CORP	539,744	$102.0M	4.82%
13	QSEAQUARTZSEA ACQUISITION CORP	499,872	$100.0M	4.73%
14	OYSEOYSTER ENTERPRISES II ACQUIS	499,872	$99.0M	4.68%
15	EGHAEGH ACQUISITION CORP.	399,872	$99.0M	4.68%
16	GIGGIGCAPITAL7 CORP	236,019	$96.0M	4.54%
17	JACSJACKSON ACQUISITION CO II	399,744	$95.0M	4.49%
18	AACBARTIUS II ACQUISITION INC	299,872	$95.0M	4.49%
19	COLACOLUMBUS ACQUISITION CORP	299,872	$95.0M	4.49%
20	—INFLECTION PT ACQUISITION CO	249,920	$94.0M	4.44%
21	HSPTHORIZON SPACE ACQUISITION II	592,400	$94.0M	4.44%
22	NOEMRCO2 ENERGY TRANSITION CORP	428,040	$94.0M	4.44%
23	LPBBLAUNCH TWO ACQUISITION CORP.	300,000	$94.0M	4.44%
24	DTSQDT CLOUD ACQUISITION CORP	400,000	$92.0M	4.35%
25	PGACPANTAGES CAPITAL ACQUISITION	450,000	$90.0M	4.25%
26	—NEWHOLD INVT CORP III	249,936	$90.0M	4.25%
27	FACTFACT II ACQUISITION CORP	249,743	$87.0M	4.11%
28	NMPNMP ACQUISITION CORP	511,346	$87.0M	4.11%
29	LCCCLAKESHORE ACQUISITION III CO	397,500	$85.0M	4.02%
30	RAAQREAL ASSET ACQUISITION CORP	199,936	$85.0M	4.02%
31	EURKEUREKA ACQUISITION CORP	225,000	$85.0M	4.02%
32	SOCASOLARIUS CAPITAL ACQU CORP	305,705	$85.0M	4.02%
33	TVAITHAYER VENTURES ACQ CORP II	399,897	$83.0M	3.92%
34	EVACEQV VENTURES ACQUISITION COR	166,665	$80.0M	3.78%
35	SZZLSIZZLE ACQUISITION CORP. II	499,872	$79.0M	3.73%
36	TACHTITAN ACQUISITION CORP	249,936	$78.0M	3.69%
37	GSHRGESHER ACQUISITION CORP. II	224,936	$78.0M	3.69%
38	SOULSOULPOWER ACQUISITION CORP	449,885	$78.0M	3.69%
39	DMIIDRUGS MADE IN AMER ACQUTN CO	417,998	$78.0M	3.69%
40	FSHPFLAG SHIP ACQUISITION CORP	577,000	$75.0M	3.55%
41	POLEANDRETTI ACQUISITION CORP II	262,666	$75.0M	3.55%
42	SPEGSILVER PEGASUS ACQUISITION C	311,422	$74.0M	3.50%
43	—STELLAR V CAP CORP	255,063	$73.0M	3.45%
44	SDHISIDDHI ACQUISITION CORP	399,872	$72.0M	3.40%
45	NOEMWCO2 ENERGY TRANSITION CORP	428,040	$72.0M	3.40%
46	—TRANSLATIONAL DEV ACQUISITIO	250,000	$70.0M	3.31%
47	PELIPELICAN ACQUISITION CORP	299,872	$68.0M	3.21%
48	RIBBRIBBON ACQUISITION CORP	400,000	$68.0M	3.21%
49	KFIIK&F GROWTH ACQUISITION CORP	509,744	$66.0M	3.12%
50	AFJKAIMEI HEALTH TECHNOLOGY CO L	172,789	$64.0M	3.03%
51	ALFCENTURION ACQUISITION CORP	200,000	$64.0M	3.03%
52	IPODDUNE ACQUISITION CORP II	254,652	$62.0M	2.93%
53	APADA PARADISE ACQUISITION CORP	250,000	$62.0M	2.93%
54	GPATGP-ACT III ACQUISITION CORP	225,599	$60.0M	2.84%
55	BSAABEST SPAC I ACQUISITION CORP	400,000	$60.0M	2.84%
56	TAVITAVIA ACQUISITION CORP	262,528	$60.0M	2.84%
57	NPACNEW PROVIDENCE ACQUISITION C	116,623	$58.0M	2.74%
58	FTWEQV VENTURES AC CORP. II	166,392	$58.0M	2.74%
59	—NEWBURY STR II ACQUISITION C	249,872	$57.0M	2.69%
60	CHARCHARLTON ARIA ACQUISITION CO	300,000	$56.0M	2.65%
61	VKQINVESCO MUNICIPAL TRUST	5,768,838	$55.7M	2.63%
62	LPAALAUNCH ONE ACQUISITION CORP	218,913	$54.0M	2.55%
63	EMISEMMIS ACQUISITION CORP.	350,000	$53.0M	2.51%
64	YHNAYHN ACQUISITION I LTD	445,000	$53.0M	2.51%
65	PLMKPLUM ACQUISITION CORP IV	184,993	$50.0M	2.36%
66	PDIPIMCO DYNAMIC INCOME FD	2,821,448	$50.0M	2.36%
67	UYSCUY SCUTI ACQUISITION CORP.	249,840	$49.0M	2.32%
68	MHDBLACKROCK MUNIHOLDINGS FD IN	4,172,151	$49.0M	2.32%
69	MYDBLACKROCK MUNIYIELD FD INC	4,605,624	$48.3M	2.28%
70	—LIONHEART HOLDINGS	272,577	$46.0M	2.17%
71	UCFIWCN HEALTHY FOOD TECH GROUP C	508,133	$45.0M	2.13%
72	FVNFUTURE VISION II ACQUISITION	350,000	$45.0M	2.13%
73	BCARD. BORAL ARC ACQ I CORP.	125,000	$45.0M	2.13%
74	INACINDIGO ACQUISITION CORP	343,701	$44.0M	2.08%
75	SIMASIM ACQUISITION CORP. I	200,951	$43.0M	2.03%
76	AXINAXIOM INTELLIGENCE AC CORP 1	200,000	$42.0M	1.99%
77	—FIGX CAP ACQUISITION CORP.	170,630	$42.0M	1.99%
78	BLEBLACKROCK MUNI INCOME TR II	3,945,514	$41.2M	1.95%
79	DTSQDT CLOUD STAR ACQUISITION CO	290,000	$40.0M	1.89%
80	VACHVOYAGER ACQUISITION CORP	210,000	$39.0M	1.84%
81	TBMCRTRAILBLAZER MERGER CORP I	161,088	$39.0M	1.84%
82	VMOINVESCO MUN OPPORTUNITY TR	4,042,713	$38.7M	1.83%
83	—ALPHATIME ACQUISITION CORP	200,000	$38.0M	1.80%
84	KOYNDIGITAL ASSET ACQUISITION CO	100,019	$38.0M	1.80%
85	PMLPIMCO MUN INCOME FD II	5,029,911	$37.9M	1.79%
86	ESHARESH ACQUISITION CORP	146,934	$36.0M	1.70%
87	USALIBERTY ALL STAR EQUITY FD	5,632,499	$35.4M	1.67%
88	COPLCOPLEY ACQUISITION CORP	199,936	$34.0M	1.61%
89	BAYARBAYVIEW ACQUISITION CORP	198,887	$33.0M	1.56%
90	BSTZBLACKROCK SCIENCE & TECHNOLO	1,458,032	$33.0M	1.56%
91	TACOBERTO ACQUISITION CORP	87,472	$32.0M	1.51%
92	BFKBLACKROCK MUN INCOME TR	3,116,366	$31.3M	1.48%
93	OPTXWSYNTEC OPTICS HLDGS INC	129,670	$31.0M	1.47%
94	NAMMNAMIB MINERALS	446,085	$31.0M	1.47%
95	PDXPIMCO DYNAMIC INCOME STRATEG	1,599,012	$30.0M	1.42%
96	UTFCOHEN & STEERS INFRASTRUCTUR	1,197,230	$28.9M	1.36%
97	MMUWESTERN ASSET MANAGED MUNS F	2,729,554	$28.5M	1.35%
98	OTFBLUE OWL TECHNOLOGY FIN CORP	1,934,726	$28.1M	1.33%
99	LWACLIGHTWAVE ACQUISITION CORP	155,747	$28.0M	1.32%
100	SBXDSILVERBOX CORP IV	99,999	$28.0M	1.32%

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