Pershing Square Exposure via RiverNorth Opportunities Fund

The RiverNorth Opportunities Fund (RIV) is a closed-end fund that uses a "fund of funds" approach. It invests in a diversified portfolio of other funds, providing exposure to a variety of asset classes. RIV has a unique investment approach, and the fund has a 12% distribution yield. The fund is managed by RiverNorth Capital Management and has a long history of stability and strong returns.

The RiverNorth Opportunities Fund, Inc. (NYSE: RIV), is a closed-end fund that employs a unique "fund of funds" approach, providing investors with diversified exposure to various asset classes. Managed by RiverNorth Capital Management, RIV has a long history of stability and strong returns, making it a notable player in the closed-end fund space.

RIV's investment strategy is characterized by its tactical asset allocation, primarily comprised of closed-end funds, exchange-traded funds (ETFs), special purpose acquisition companies (SPACs), and business development companies (BDCs). This multi-asset approach allows the fund to capitalize on inefficiencies within the closed-end fund market while offering broad diversification to its investors.

The fund's current portfolio composition shows an overweight positioning in fixed income and SPACs, with the following allocation:

- Fixed Income: 25%
- SPACs: 20%
- Investment Company Bonds: 14%
- US Equity: 14%
- Cash: 9%
- International Equity: 7%
- EM Equity: 4%
- Alternatives: 1%
- BDC: 1%

Notably, Pershing Square, managed by Bill Ackman, is the largest holding at 10.7%, followed by several BlackRock closed-end funds (CEFs). These holdings reflect the fund's active management style, focusing on undervalued instruments from a structural perspective.

RIV's distribution yield stands at 12%, making it an attractive option for income-focused investors. The fund's stability and strong performance have been supported by its diversified investment approach and experienced management team.

For more information on the fund's current portfolio composition, risk metrics, and valuation, please refer to the annual report and the latest fund fact sheet.