Stock Analysis
Data Source: SEC EDGAR 13F
Updated Hourly

Rivernorth Flexible Mun Inco (RFM)

24 + Investors. Track Smart Money conviction in RFM. See who's accumulating, reducing, or initiating positions.

Current Price
-- USD
Analyst Target
-- (0 analysts)
Upside
0.00%
Net Flow Q/Q
↑ +1
Streak
3Q ▲
Buyers last Q
56%

Smart Money Signals — RFM

Based on 24 hedge funds · latest filing: 2026 Q1 · updated quarterly

📈

Buying streak — 3 quarters in a row

last 6Q
For 3 consecutive quarters, more hedge funds added RFM than sold it. That's a consistent pattern of professional buying — not a one-time trade. When institutions keep buying quarter after quarter, it usually means they see a multi-year opportunity, not just a short-term momentum flip.
🏔️

At the ownership peak (100% of max)

100% of all-time peak
24 hedge funds hold RFM right now — the highest count in 3.0 years. When ownership is this concentrated, any bad news can trigger a chain reaction: one big fund sells, others follow. This is a classic 'crowded trade' — high popularity doesn't equal safety.
🚀

Fast accumulation — +33% more funds vs a year ago

fund count last 6Q
+6 new funds entered over the past year (+33% YoY). That's a rapid rush of institutional money. Fast accumulation often signals a major thesis — but it also means the stock could fall quickly if that thesis breaks.
🟡

Slight buying edge — 56% buying

10 buying8 selling
Last quarter: 10 funds bought or added vs 8 that reduced or exited. It's nearly a 50/50 split — some institutions are convinced, others are taking profits. This mixed picture is normal near price highs.
➡️

Steady new buyers — ~3 new funds per quarter

new funds entering per quarter
Funds opening this position for the first time: 1 → 4 → 6 → 3. A stable flow of new institutional buyers suggests ongoing interest without signs of either acceleration or slowdown.
🔒

50% of holders stayed for 2+ years

■ 50% conviction (2yr+) ■ 25% medium ■ 25% new
12 out of 24 hedge funds have held RFM for over 2 years without selling. Long-term investors are generally harder to shake out during market stress, creating a stable ownership base that limits the risk of sudden capitulation.
➡️

Steady discovery — ~3 new funds/quarter

1 → 1 → 4 → 6 → 3 new funds/Q
New funds entering each quarter: 1 → 4 → 6 → 3. Consistent flow of new institutional buyers without clear acceleration or slowdown.
🏛️

Deep conviction — 58% of holders stayed 2+ years

■ 58% veterans ■ 12% 1-2yr ■ 29% new
Of 24 current holders: 14 (58%) have held for over 2 years without selling. These are not momentum buyers — they have lived through drawdowns and stayed. A large veteran base acts as a stabilizing force during selloffs.
🏆

Elite ownership — 41% AUM from top-100 funds

41% from top-100 AUM funds
5 of 24 holders are among the 100 largest funds by AUM, controlling 41% of total institutional value in RFM. When the biggest players dominate the cap table, it signifies deep institutional support — since mega-funds deploy the most rigorous due diligence and capital.
4.3
out of 10
Moderate Exit Risk
Exit risk score 4.3/10 — some crowding factors present, but no critical concentration. Watch ownership trend over the next 1–2 quarters for direction.

Methodology note: these Smart Money cards use consecutive 13F disclosure snapshots, not trade-by-trade execution data. "Buying", "selling", "new holders", and "trimmed" refer to quarter-over-quarter changes in reported holders, aggregate shares, or disclosed position values between filings. They are useful for ownership regime analysis and crowding, but they do not imply exact trade timing on the filing date.

Institutional Sentiment Summary — RFM

In 2026 Q1, 10 hedge funds were net buyers of RFM (3 opened a new position, 7 added to an existing one), while 8 reduced or exited (6 trimmed, 2 sold completely) — a 56% buyer ratio, indicating a slight buying edge. This marks 3 consecutive quarters of net institutional buying — a persistent conviction signal. 41% of total institutional value in RFM is held by top-100 AUM funds, reflecting elite-tier ownership quality. Net fund flow last quarter: +1 funds (more new holders than closures). Total institutional holders: 24.

Hedge Fund Ownership: RFM

How many hedge funds hold RFM — quarterly history vs. share price
Quarterly hedge fund ownership of RFM vs. share price

Market Analysis: RFM

Analyst Price Targets

Avg. Price Target
--

Analyst Recommendations

Stock Performance

Real-time

Company Profile: RFM

-- --

Institutional ownership data sourced from SEC EDGAR Form 13F-HR filings.

Is It Too Late to Buy Rivernorth Flexible Mun Inco (RFM) Based on Hedge Fund 13F Filings?

Signal Freshness measures how much RFM has moved relative to its sector benchmark (XLF) since the 2026 Q1 13F filing. A stock that has barely outrun its sector is still a relatively fresh entry point — the fund's thesis has not yet been priced in by the broader market.

Since Quarter End March 31, 2026 · 78d ago
RFM
+3.8%
XLF
+1220.3%

RFM outperformed XLF by -1216.5% since March 31, 2026.

Since 13F Filing Date May 15, 2026 · 33d ago
RFM
-1.0%
XLF
+4.8%

Since the filing became public, RFM outperformed XLF by -5.8% .

Interpretation: The stock is tracking its sector benchmark closely. The signal remains fresh and the entry point is still near the fund's implied reference. Learn more →

Smart Money Signal ?
Limited Smart Money Interest

No strong consensus or elite conviction detected among institutional holders.

1 top-rated funds 0 high-conviction
Consensus
1.3
/ 10
breadth
×
Elite
0.2
/ 10
conviction
Hedge Fund Positioning: RFM
24 + Investors

Track Smart Money conviction in RFM. See who's accumulating, reducing, or initiating positions.

Metric All 13F Filers (2026 Q1) Prior (2025 Q4) Change
Funds Holding 24 23 4.35%
13F Shares 1M 957K 6.18%
Total Value $14M $13M 4.79%
New Positions 3 6 -3
Increased Positions 7 5 +2
Closed Positions 2 2 -
Reduced Positions 6 6 -
Total Calls 0 0 -
Total Puts 0 0 -
PUT/CALL Ratio 0.0 0.0 Bullish

Statistics: RFM

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Beta (5Y Monthly) --
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Short % of Float --

Financial Highlights

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Institutional Holders (2026 Q1)

24 + investors

Explore institutional interest and hedge fund ownership dynamics. Analyze portfolio weights, new positions, and conviction trends in RFM. Verified SEC 13F-HR filings.

QUARTER:
Top 23 RFM holders by conviction (% of portfolio weight) — 2026 Q1 · Source: SEC Form 13F
# Investor % of Portfolio Shares Mkt Value
1 Robinson Capital Management, LLC 0.93% 154,999 $2.2M
2 Estate Planners Group, LLC 0.34% 56,238 $786K
3 Logan Stone Capital, LLC 0.25% 63,871 $896K
4 Closed-End Fund Advisors, Inc. 0.22% 15,668 $220K
5 Noble Wealth Management PBC 0.10% 13,801 $194K
6 River Street Advisors LLC 0.09% 18,864 $265K
7 Rivernorth Capital Management, LLC 0.03% 47,654 $669K
8 Guggenheim Capital LLC 0.01% 104,755 $1.5M
9 Carnegie Investment Counsel 0.00% 15,000 $210K
10 Highline Wealth Partners LLC 0.00% 1,000 $14K
11 Capital Investment Advisors, LLC 0.00% 14,250 $200K
12 Apollon Wealth Management, LLC 0.00% 13,500 $189K
13 Blue Bell Private Wealth Management, LLC 0.00% 500 $7K
14 &Partners 0.00% 12,229 $172K
15 Wells Fargo & Company/Mn 0.00% 144,555 $2.0M
16 Osaic Holdings, INC. 0.00% 13,621 $191K
17 Stifel Financial Corp 0.00% 15,525 $218K
18 Royal Bank of Canada 0.00% 67,484 $947K
19 Advisory Services Network, LLC 0.00% 833 $12K
20 UBS Group AG 0.00% 68,738 $964K
21 Morgan Stanley 0.00% 116,344 $1.6M
22 Raymond James Financial Inc 0.00% 22,631 $318K
23 LPL Financial LLC 0.00% 13,226 $186K
Investor Ownership
History 		% of Portfolio Prev % Rank Conviction Avg Buy Price 13F Score™ 3Y / 7Y Sell Timing Shares Mkt Value Change Change % Source Quarter Filed

Frequently Asked Questions — Rivernorth Flexible Mun Inco (RFM)

What does the Smart Money Trend signal show for RFM?

Buying streak — 3 quarters in a row: For 3 consecutive quarters, more hedge funds added RFM than sold it. That's a consistent pattern of professional buying — not a one-time trade. When institutions keep buying quarter after quarter, it usually means they see a multi-year opportunity, not just a short-term momentum flip.

What is the institutional breadth score for RFM?

Slight buying edge — 56% buying: Last quarter: 10 funds bought or added vs 8 that reduced or exited. It's nearly a 50/50 split — some institutions are convinced, others are taking profits. This mixed picture is normal near price highs.

What is the fund quality score for RFM holders?

Elite ownership — 41% AUM from top-100 funds: 5 of 24 holders are among the 100 largest funds by AUM, controlling 41% of total institutional value in RFM. When the biggest players dominate the cap table, it signifies deep institutional support — since mega-funds deploy the most rigorous due diligence and capital.

How long have hedge funds held RFM?

50% of holders stayed for 2+ years: 12 out of 24 hedge funds have held RFM for over 2 years without selling. Long-term investors are generally harder to shake out during market stress, creating a stable ownership base that limits the risk of sudden capitulation.

Is it too late to buy Rivernorth Flexible Mun Inco (RFM) following the 2026 Q1 hedge fund 13F filings?

As of today, RFM has moved -1.0% since the 2026 Q1 13F filing date (May 15, 2026), compared to +4.8% for the XLF sector ETF — an outperformance of -5.8%. Since the quarter end (March 31, 2026), RFM has gained +3.8% vs +1220.3% for XLF. The stock is tracking its sector benchmark closely. The signal remains fresh and the entry point is still near the fund's implied reference.

Where does this institutional ownership data come from?

All holdings data is sourced from SEC Form 13F filings, which institutional investment managers with over $100 million in assets are required to submit quarterly. Data is parsed directly from SEC EDGAR.

Disclaimer: The information on this page is for informational purposes only and does not constitute investment advice, a recommendation, or an offer to buy or sell any security. Institutional holdings data is sourced from SEC Form 13F filings and reflects positions as of the filing date. Past performance of any fund or portfolio is not indicative of future results. 13Foresight is not a registered investment adviser. Always conduct your own due diligence before making investment decisions.

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