RIV - RiverNorth Opportunities Fund

What this means for you

One or more large investors own more than 5% of this fund but have told the regulator they are not seeking changes. That is common for banks, brokers and index funds that hold shares for their clients.

The investor's notice itself does not require anything from you; the fund's own announcement above does - by the date shown. If an investor changes its mind, it must file a new notice within days, and it will show up here.

Separately, the fund itself has announced an offer of new shares - see the box above for what to do and by when.

Email me if this changes

What happened, and when

1. Aug 28, 2026

   The fund offered holders the right to buy more shares, until Sept 23, 2026.

   Original document →

2. Aug 14, 2026

   The fund said it may sell new shares.

   Original document →

3. June 12, 2026

   The fund said it may sell new shares.

   Original document →

4. Feb 10, 2026

   The fund said it may sell new shares.

   Original document →

5. Nov 3, 2025

   Sit Investment now owns 10.5%, as a passive investor.

   Original document →

About this fund

• Run by RiverNorth Capital Management, LLC. As of June 30, 2026, from the fund's yearly report. Original document →
• Size: about $330 million of holdings, as of June 30, 2026. As of June 30, 2026, from the fund's quarterly holdings report. Original document →
• Borrowing: the fund borrows about 27% on top of its own money, as of June 30, 2026. Borrowed money makes gains and losses bigger. About 81% of that is money the fund has borrowed by selling preferred shares. As of June 30, 2026, from the fund's quarterly holdings report. Original document →
• Costs: 1.7% a year in management fees; 1.9% a year in total, including interest on borrowed money. Fiscal year ended June 30, 2026. As of June 30, 2026, from the fund's yearly report. Original document →
• Payouts: last fiscal year (ended June 30, 2026) the fund paid $1.55 a share. $0.54 of that was income; $0.71 came from gains; $0.30 was your own money back, not income. As of June 30, 2026, from the fund's annual report. Original document →
• Value of holdings per share at the last fiscal year end (June 30, 2026): $12.06. The shares traded at $11.66, about 3.3% below that. As of June 30, 2026, from the fund's yearly report. Original document →
  Over the last two years the gap ranged from 9.9% below to 1.4% above. As of June 30, 2026, from the fund's annual report. Original document →
• How the holdings did: up 8.6% over the last three months we have (April-June 2026), before the share price is taken into account. Over the last 12 months: +8.3%. As of June 30, 2026, from the fund's quarterly holdings report. Original document →
• How the holdings did over the fiscal year (ended June 30, 2026): the value of the holdings returned +9.8%. How the share price did: the shares returned +8.3% over the same year, counting payouts and the change in the market price. As of June 30, 2026, from the fund's annual report. Original document →
• First reported to the regulator in 2010.

What the fund holds

Mostly shares (86%), the rest bonds and cash and short-term holdings. About 63% issued in the U.S.

1. Pershing Square USA, Ltd. - 7.9%
2. Pershing Square Holdings Ltd/fund - 6.9%
3. Cash and short-term - 5.4%
4. Blackrock Science And Technology Term Trust - 4.5%
5. Blackrock Health Sciences Term Trust - 3.7%
6. Royce Micro-Cap Trust, Inc. - 3.1%
7. BlackRock Corporate High Yield Fund, Inc. - 3.1%
8. Royce Small-cap Trust, Royce Value Trust, Inc. - 3%
9. Fs Specialty Lending Fund - 2.7%
10. Kayne Anderson Energy Infrastructure Fund - 2.6%

As of June 30, 2026, from the fund's quarterly holdings report. Original document →