# EDGAR Filing Document

**Accession Number:** 0001790177
**File Stem:** 0001049169-26-000380
**Filing Date:** 2026-2
**Character Count:** 49727
**Document Hash:** 0fde92a51f8c9d28f7fcf182b5444e8c
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001049169-26-000380.hdr.sgml**: 20260226

**ACCESSION NUMBER**: 0001049169-26-000380

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20251231

**FILED AS OF DATE**: 20260226

**DATE AS OF CHANGE**: 20260226

**PERIOD START**: 20260630

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** RiverNorth Flexible Municipal Income Fund, Inc.
- **CENTRAL INDEX KEY:** 0001790177

**ORGANIZATION NAME:**
- **EIN:** 000000000
- **STATE OF INCORPORATION:** MD
- **FISCAL YEAR END:** 0630

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-23481
- **FILM NUMBER:** 26690397

**BUSINESS ADDRESS:**
- **STREET 1:** 360 S. ROSEMARY AVE
- **STREET 2:** SUITE 1420
- **CITY:** WEST PALM BEACH
- **STATE:** FL
- **ZIP:** 33401
- **BUSINESS PHONE:** 561-484-7185

**MAIL ADDRESS:**
- **STREET 1:** 360 S. ROSEMARY AVE
- **STREET 2:** SUITE 1420
- **CITY:** WEST PALM BEACH
- **STATE:** FL
- **ZIP:** 33401

## Form NPORT-P: Monthly Portfolio Investments Report

### NPORT-P: Part A: General Information

**Item A.1. Information about the Registrant.**

- **a. Name of Registrant:** RiverNorth Flexible Municipal Income Fund Inc.

- **b. Investment Company Act file number:** 811-23481

- **c. CIK number of Registrant:** 0001790177

- **d. LEI of Registrant:** 549300O6XP1DQZGJLC78

- **e. Address and telephone number of Registrant.**

  - **Street Address 1:** 360 S. Rosemary Avenue Suite 1420

  - **City:** West Palm Beach

  - **State:** FL

  - **Foreign country:** US

  - **Zip / Postal Code:** 33401

  - **Telephone number:** 312-445-2249

**Item A.2. Information about the Series.**

- **a. Name of Series:** RiverNorth Flexible Municipal Income Fund Inc.

- **c. LEI of Series:** 549300O6XP1DQZGJLC78

**Item A.3. Reporting period.**

- **a. Date of fiscal year-end:** 2026-06-30

- **b. Date as of which information is reported:** 2025-12-31

**Item A.4. Final filing**

Does the Fund anticipate that this will be its final filing on Form N-PORT? **No**

### Fund Information

**Total Assets:** $98650625.41

**Total Liabilities:** $2434747.63

**Net Assets:** $96215877.78

**Currency Risk Metrics (dv01):**

- 

**Credit Spread Risk - Investment Grade (dv01):**

- **3-Month:** 77538.08680500 | **1-Year:** 3125.82573900 | **5-Year:** 48314.24277000 | **10-Year:** 49556.08521700 | **30-Year:** 4180.54620000

**Credit Spread Risk - Non-Investment Grade (dv01):**

- **3-Month:** 0.00000000 | **1-Year:** 0.00000000 | **5-Year:** 0.00000000 | **10-Year:** 0.00000000 | **30-Year:** 0.00000000

**Monthly Return Information**

| Class        | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID N/A | 0.44%                | -1.57%               | -0.33%               |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $205438.22               | $873358.07                                 |
| Month 2  | $199858.49               | $-540588.41                                |
| Month 3  | $140205.44               | $-373427.95                                |

### Schedule of Portfolio Investments

| Name                                                         | Title                                                                        | Identifiers                                   | Payoff Profile   | Asset Category   | Issuer Category   | Country   |   Balance | Units   | Value (USD)   | % of Net Assets   | Maturity Date   | Coupon Type   | Annualized Rate (%)   | Restricted?   |   Fair Value Level | Lending Status   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| Blackrock Munivest Fund Inc                                  | BlackRock MuniVest Fund, Inc.                                                | CUSIP: 09253R105<br>LEI: 68LQJ5NLUNQI2T9OLL41 | Long             | EC               | RF                | US        |    140140 | NS      | $971170.20    | 1.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Triborough Ny Bridge & Tunnel Auth Revenues                  | Triborough Bridge & Tunnel Authority                                         | CUSIP: 89602RFZ3<br>LEI: 54930020ZN4LQF7K3456 | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2053727.20   | 2.13%             | 2049-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Tender Option Bond Trust Receipts / Ctfs Various States      | Tender Option Bond Trust Receipts/Certificates                               | CUSIP: 88035AV73<br>LEI: N/A                  | Short            | DBT              | MUN               | US        |  -3200000 | PA      | $-3200000.00  | -3.33%            | 2030-01-01      | Floating      | 3.38%                 | Yes           |                  2 | On Loan: No      |
| Blackrock Municipal Income Trust                             | BlackRock Municipal Income Trust                                             | CUSIP: 09248F109<br>LEI: R3ITLLW1CUEQICP4XR90 | Long             | EC               | RF                | US        |    143925 | NS      | $1443567.75   | 1.50%             |  |  |  | No            |                  1 | On Loan: No      |
| New York St Dorm Auth St Personal Income Tax Revenue         | New York State Dormitory Authority                                           | CUSIP: 64990FX25<br>LEI: 549300C8XO7EXTX2XU71 | Long             | DBT              | MUN               | US        |   2200000 | PA      | $2355884.30   | 2.45%             | 2041-03-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Nuveen Municipal Credit Opportunities Fund                   | Nuveen Municipal Credit Opportunities Fund                                   | CUSIP: 670663103<br>LEI: 549300DD3V5NH59YTS11 | Long             | EC               | RF                | US        |     25264 | NS      | $258450.72    | 0.27%             |  |  |  | No            |                  1 | On Loan: No      |
| Mfs High Yield Municipal Trust                               | MFS High Yield Municipal Trust                                               | CUSIP: 59318E102<br>LEI: A8WLLLHJKX1MW5QPZU93 | Long             | EC               | RF                | US        |     10338 | NS      | $36286.38     | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Tender Option Bond Trust Receipts / Ctfs Various States      | Tender Option Bond Trust Receipts/Certificates                               | CUSIP: 88035TJK7<br>LEI: N/A                  | Short            | DBT              | MUN               | US        |  -2000000 | PA      | $-2000000.00  | -2.08%            | 2033-11-01      | Floating      | 3.35%                 | Yes           |                  2 | On Loan: No      |
| Blackrock Muniyield Michigan Quality Fund Inc                | BlackRock MuniYield Michigan Quality Fund, Inc.                              | CUSIP: 09254V105<br>LEI: J3H1DOS8Q2FL9RVLS329 | Long             | EC               | RF                | US        |      1416 | NS      | $16623.84     | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Las Vegas Vly Nv Wtr Dist                                    | Las Vegas Valley Water District                                              | CUSIP: 517845SF1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2500000 | PA      | $2590580.75   | 2.69%             | 2053-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Massachusetts St Transprtn Fund Revenue                      | Commonwealth of Massachusetts Transportation Fund Revenue                    | CUSIP: 57604TKE5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   4000000 | PA      | $4143423.20   | 4.31%             | 2053-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Blackrock Muniholdings Fund Inc                              | BlackRock MuniHoldings Fund, Inc.                                            | CUSIP: 09253N104<br>LEI: MZBVMGS24JR92TGE6Z32 | Long             | EC               | RF                | US        |    364848 | NS      | $4283315.52   | 4.45%             |  |  |  | No            |                  1 | On Loan: No      |
| Invesco Municipal Opportunity Trust                          | Invesco Municipal Opportunity Trust                                          | CUSIP: 46132C107<br>LEI: WERC5RXCUSU16MOTZ848 | Long             | EC               | RF                | US        |    361899 | NS      | $3463373.43   | 3.60%             |  |  |  | No            |                  1 | On Loan: No      |
| Blackrock Muniholdings California Quality Fund Inc           | BlackRock MuniHoldings California Quality Fund, Inc.                         | CUSIP: 09254L107<br>LEI: NKJSRCJXMS5PZYPXY795 | Long             | EC               | RF                | US        |    143228 | NS      | $1518216.80   | 1.58%             |  |  |  | No            |                  1 | On Loan: No      |
| Blackrock Muniyield Quality Fund Ii Inc                      | BlackRock MuniYield Quality Fund II, Inc.                                    | CUSIP: 09254G108<br>LEI: PRQP520S3DVB025IWS24 | Long             | EC               | RF                | US        |    156301 | NS      | $1570825.05   | 1.63%             |  |  |  | No            |                  1 | On Loan: No      |
| Invesco Pennsylvania Value Municipal Income Trust            | Invesco Pennsylvania Value Municipal Income Trust                            | CUSIP: 46132K109<br>LEI: 549300S5KHBL3XISY922 | Long             | EC               | RF                | US        |      5886 | NS      | $61567.56     | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| Blackrock Liquidity Funds Municash                           | BlackRock Liquidity Funds MuniCash                                           | CUSIP: 09248U841<br>LEI: 549300RWBJ885673DL84 | Long             | STIV             | RF                | US        |   6853542 | NS      | $6854227.18   | 7.12%             |  |  |  | No            |                  1 | On Loan: No      |
| Virginia Small Business Fing Auth Priv Activity Revenue Sr   | Virginia Small Business Financing Authority                                  | CUSIP: 928097AD6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1423827.60   | 1.48%             | 2056-12-31      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Greenville Tx Elec Utility Sys Revenue                       | City of Greenville TX Electric System Revenue                                | CUSIP: 396706JC8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1026762.90   | 1.07%             | 2054-02-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Blackrock Muniyield New York Quality Fund Inc                | BlackRock MuniYield New York Quality Fund, Inc.                              | CUSIP: 09255E102<br>LEI: 158AYFGDRFUGVL3TD012 | Long             | EC               | RF                | US        |     13129 | NS      | $130108.39    | 0.14%             |  |  |  | No            |                  1 | On Loan: No      |
| Denver City & Cnty Co Sch Dist #1                            | Denver City & County School District No 1                                    | CUSIP: 249174ZN6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3000000 | PA      | $3305362.50   | 3.44%             | 2049-12-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Blackrock Muniholdings New York Quality Fund Inc             | BlackRock MuniHoldings New York Quality Fund, Inc.                           | CUSIP: 09255C106<br>LEI: YP1D2S6Y4JY0A7W3DV93 | Long             | EC               | RF                | US        |     57136 | NS      | $584501.28    | 0.61%             |  |  |  | No            |                  1 | On Loan: No      |
| Tender Option Bond Trust Receipts / Ctfs Various States      | Tender Option Bond Trust Receipts/Certificates                               | CUSIP: 88035MLB9<br>LEI: N/A                  | Short            | DBT              | MUN               | US        |  -2250000 | PA      | $-2250000.00  | -2.34%            | 2049-12-01      | Floating      | 3.35%                 | Yes           |                  2 | On Loan: No      |
| Tender Option Bond Trust Receipts / Ctfs Various States      | Tender Option Bond Trust Receipts/Certificates                               | CUSIP: 88035R7M0<br>LEI: N/A                  | Short            | DBT              | MUN               | US        |  -2400000 | PA      | $-2400000.00  | -2.49%            | 2031-07-15      | Floating      | 3.35%                 | Yes           |                  2 | On Loan: No      |
| Bny Mellon Strategic Municipal Bond Fund Inc                 | BNY Mellon Strategic Municipal Bond Fund, Inc.                               | CUSIP: 09662E109<br>LEI: 54930044KK4C1VDJ7M52 | Long             | EC               | RF                | US        |     71507 | NS      | $441198.19    | 0.46%             |  |  |  | No            |                  1 | On Loan: No      |
| Blackrock Muniassets Fund Inc                                | BlackRock MuniAssets Fund, Inc.                                              | CUSIP: 09254J102<br>LEI: UJYLDIG1NIEEIV3PO802 | Long             | EC               | RF                | US        |     25456 | NS      | $272633.76    | 0.28%             |  |  |  | No            |                  1 | On Loan: No      |
| New York St Dorm Auth Revenues Non St Supported Debt         | New York State Dormitory Authority                                           | CUSIP: 65000BW38<br>LEI: 549300C8XO7EXTX2XU71 | Long             | DBT              | MUN               | US        |   2200000 | PA      | $2381905.24   | 2.48%             | 2054-07-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Blackrock Muniyield Quality Fund Iii Inc                     | BlackRock MuniYield Quality Fund III, Inc.                                   | CUSIP: 09254E103<br>LEI: UB5J2GS6Q51M6A2L8886 | Long             | EC               | RF                | US        |    132587 | NS      | $1441220.69   | 1.50%             |  |  |  | No            |                  1 | On Loan: No      |
| S Estrn Pa Transprtn Auth                                    | Southeastern Pennsylvania Transportation Authority                           | CUSIP: 842039FP9<br>LEI: 98450061A2F3FD36E493 | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2145369.60   | 2.23%             | 2043-06-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Tender Option Bond Trust Receipts / Ctfs Various States      | Tender Option Bond Trust Receipts/Certificates                               | CUSIP: 88035EBS1<br>LEI: N/A                  | Short            | DBT              | MUN               | US        |  -2000000 | PA      | $-2000000.00  | -2.08%            | 2052-12-01      | Floating      | 3.44%                 | Yes           |                  2 | On Loan: No      |
| Puerto Rico Sales Tax Fing Corp Sales Tax Revenue            | Puerto Rico Sales Tax Financing Corp. Sales Tax Revenue                      | CUSIP: 74529JRL1<br>LEI: 549300EIUFISISP8X671 | Long             | DBT              | MUN               | PR        |   1096000 | PA      | $1025014.93   | 1.07%             | 2058-07-01      | Fixed         | 4.78%                 | No            |                  2 | On Loan: No      |
| Blackrock Munivest Fund Ii Inc                               | BlackRock MuniVest Fund II, Inc.                                             | CUSIP: 09253T101<br>LEI: TC1SINW7C50S8NN8GU32 | Long             | EC               | RF                | US        |     88053 | NS      | $951852.93    | 0.99%             |  |  |  | No            |                  1 | On Loan: No      |
| Tender Option Bond Trust Receipts / Ctfs Various States      | Tender Option Bond Trust Receipts/Certificates                               | CUSIP: 88035RSR6<br>LEI: N/A                  | Short            | DBT              | MUN               | US        |  -2400000 | PA      | $-2400000.00  | -2.49%            | 2049-08-15      | Floating      | 3.37%                 | Yes           |                  2 | On Loan: No      |
| Chicago Board of Trade                                       | US Long Bond Future                                                          | CUSIP: N/A<br>LEI: 549300EX04Q2QBFQTQ27       | N/A              | DIR              | CORP              | US        |      -190 | NC      | $-21962812.50 | -22.83%           |  |  |  | No            |                  1 | On Loan: No      |
| Mansfield Tx Indep Sch Dist                                  | Mansfield Independent School District                                        | CUSIP: 564386VN7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   7000000 | PA      | $7460609.80   | 7.75%             | 2055-02-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Savannah Georgia Convention Ctr Auth Ga Convention Ctr Hotel | Savannah Georgia Convention Center Authority                                 | CUSIP: 804828AB7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $998333.80    | 1.04%             | 2050-06-01      | Fixed         | 5.12%                 | No            |                  2 | On Loan: No      |
| Mta Hudson Rail Yards Trust Obligs Revenue                   | MTA Hudson Rail Yards Trust Obligations                                      | CUSIP: 62476RAB1<br>LEI: 5493000TKYODLXADQD60 | Long             | DBT              | MUN               | US        |   2000000 | PA      | $1999996.40   | 2.08%             | 2051-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Invesco Municipal Trust                                      | Invesco Municipal Trust                                                      | CUSIP: 46131J103<br>LEI: GKS5Y4B1VKHV66WSPK53 | Long             | EC               | RF                | US        |    261216 | NS      | $2520734.40   | 2.62%             |  |  |  | No            |                  1 | On Loan: No      |
| Tender Option Bond Trust Receipts / Ctfs                     | Tender Option Bond Trust Receipts/Certificates                               | CUSIP: 88035D3X1<br>LEI: N/A                  | Short            | DBT              | MUN               | US        |  -1600000 | PA      | $-1600000.00  | -1.66%            | 2029-12-01      | Floating      | 3.35%                 | Yes           |                  2 | On Loan: No      |
| Invesco Trust For Investment Grade Municipals                | Invesco Trust for Investment Grade Municipals                                | CUSIP: 46131M106<br>LEI: V0VF67S6NRLBDK357F71 | Long             | EC               | RF                | US        |     26139 | NS      | $271061.43    | 0.28%             |  |  |  | No            |                  1 | On Loan: No      |
| Tender Option Bond Trust Receipts / Ctfs Various States      | Tender Option Bond Trust Receipts/Certificates                               | CUSIP: 88035GF60<br>LEI: N/A                  | Short            | DBT              | MUN               | US        |  -3600000 | PA      | $-3600000.00  | -3.74%            | 2028-09-01      | Floating      | 3.37%                 | Yes           |                  2 | On Loan: No      |
| Blackrock Muniholdings Quality Fund Ii Inc                   | BlackRock MuniHoldings Quality Fund II, Inc.                                 | CUSIP: 09254C107<br>LEI: V04K6JK5YHD4O5SHSC34 | Long             | EC               | RF                | US        |    106710 | NS      | $1070301.30   | 1.11%             |  |  |  | No            |                  1 | On Loan: No      |
| North Carolina St Turnpike Auth                              | North Carolina Turnpike Authority                                            | CUSIP: 65830RDA4<br>LEI: 549300FCT1PN0GJGQ240 | Long             | DBT              | MUN               | US        |   4000000 | PA      | $4088098.40   | 4.25%             | 2058-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Bny Mellon Strategic Municipals Inc                          | BNY Mellon Strategic Municipals, Inc.                                        | CUSIP: 05588W108<br>LEI: 549300FH0LKMOBY7N332 | Long             | EC               | RF                | US        |    127631 | NS      | $811733.16    | 0.84%             |  |  |  | No            |                  1 | On Loan: No      |
| Pimco Municipal Income Fund Ii                               | PIMCO Municipal Income Fund II                                               | CUSIP: 72200W106<br>LEI: ZVT714KPY3QTZWRT1S41 | Long             | EC               | RF                | US        |    118229 | NS      | $891448.18    | 0.93%             |  |  |  | No            |                  1 | On Loan: No      |
| S Estrn Pa Transprtn Auth                                    | Southeastern Pennsylvania Transportation Authority                           | CUSIP: 842039FR5<br>LEI: 98450061A2F3FD36E493 | Long             | DBT              | MUN               | US        |   1250000 | PA      | $1301625.75   | 1.35%             | 2052-06-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Blackrock Muniyield Quality Fund Inc                         | BlackRock MuniYield Quality Fund, Inc.                                       | CUSIP: 09254F100<br>LEI: TFKEE3VA3GBE5LOK5U77 | Long             | EC               | RF                | US        |    252925 | NS      | $2858052.50   | 2.97%             |  |  |  | No            |                  1 | On Loan: No      |
| Tender Option Bond Trust Receipts / Ctfs Various States      | Tender Option Bond Trust Receipts/Certificates                               | CUSIP: 88035HPY6<br>LEI: N/A                  | Short            | DBT              | MUN               | US        |  -3000000 | PA      | $-3000000.00  | -3.12%            | 2032-01-01      | Floating      | 3.49%                 | Yes           |                  2 | On Loan: No      |
| Chicago Il O'hare International Arpt Revenue                 | Chicago O'Hare International Airport                                         | CUSIP: 167593X56<br>LEI: T5UYO5SYLC8K73MJQX30 | Long             | DBT              | MUN               | US        |   5000000 | PA      | $5165138.00   | 5.37%             | 2045-01-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Battery Park City Ny Auth                                    | Battery Park City Authority                                                  | CUSIP: 07133AKQ4<br>LEI: 549300RF3SFDOWRHVM56 | Long             | DBT              | MUN               | US        |   2500000 | PA      | $2672726.50   | 2.78%             | 2055-11-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Nuveen Municipal Value Fund Inc                              | Nuveen Municipal Value Fund, Inc.                                            | CUSIP: 670928100<br>LEI: 549300TFLBQ7LJSP8B20 | Long             | EC               | RF                | US        |     61933 | NS      | $561112.98    | 0.58%             |  |  |  | No            |                  1 | On Loan: No      |
| Holly Mi Area Sch Dist                                       | Holly Area School District                                                   | CUSIP: 435866TX6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3015000 | PA      | $3166987.05   | 3.29%             | 2052-05-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Missouri St Hlth & Eductnl Facs Auth Hlth Facs Revenue       | Health & Educational Facilities Authority of the State of Missouri           | CUSIP: 60637AXQ0<br>LEI: 549300IWTBCMX5JB3277 | Long             | DBT              | MUN               | US        |   1515000 | PA      | $1612748.56   | 1.68%             | 2052-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Washington Dc Met Area Transit Auth Dedicated Revenue        | Washington Metropolitan Area Transit Authority Dedicated Revenue             | CUSIP: 93878YDS5<br>LEI: 549300ADKOK76HQMJS30 | Long             | DBT              | MUN               | US        |   3000000 | PA      | $3101495.10   | 3.22%             | 2048-07-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Abrdn National Municipal Income Fund                         | abrdn National Municipal Income Fund                                         | CUSIP: 24610T108<br>LEI: NIC7ULNUGCUI836YP119 | Long             | EC               | RF                | US        |      9947 | NS      | $102155.69    | 0.11%             |  |  |  | No            |                  1 | On Loan: No      |
| Blackrock California Municipal Income Trust                  | BlackRock California Municipal Income Trust                                  | CUSIP: 09248E102<br>LEI: LE6236HQD6DXEGUHE217 | Long             | EC               | RF                | US        |    100467 | NS      | $1079015.58   | 1.12%             |  |  |  | No            |                  1 | On Loan: No      |
| Putnam Managed Municipal Income Trust                        | Putnam Managed Municipal Income Trust                                        | CUSIP: 746823103<br>LEI: 549300MCDIUT86HMWI73 | Long             | EC               | RF                | US        |     41209 | NS      | $258380.43    | 0.27%             |  |  |  | No            |                  1 | On Loan: No      |
| Tender Option Bond Trust Receipts / Ctfs Various States      | Tender Option Bond Trust Receipts/Certificates                               | CUSIP: 88035GZY7<br>LEI: N/A                  | Short            | DBT              | MUN               | US        |  -2000000 | PA      | $-2000000.00  | -2.08%            | 2053-11-01      | Floating      | 3.34%                 | Yes           |                  2 | On Loan: No      |
| Tender Option Bond Trust Receipts / Ctfs Various States      | Tender Option Bond Trust Receipts/Certificates                               | CUSIP: 88035GUV8<br>LEI: N/A                  | Short            | DBT              | MUN               | US        |  -1875000 | PA      | $-1875000.00  | -1.95%            | 2053-06-01      | Floating      | 3.35%                 | Yes           |                  2 | On Loan: No      |
| Tender Option Bond Trust Receipts / Ctfs Various States      | Tender Option Bond Trust Receipts/Certificates                               | CUSIP: 88035TFW5<br>LEI: N/A                  | Short            | DBT              | MUN               | US        |  -1760000 | PA      | $-1760000.00  | -1.83%            | 2054-07-01      | Floating      | 3.35%                 | Yes           |                  2 | On Loan: No      |
| Tender Option Bond Trust Receipts / Ctfs Various States      | Tender Option Bond Trust Receipts/Certificates                               | CUSIP: 88035GR59<br>LEI: N/A                  | Short            | DBT              | MUN               | US        |  -3600000 | PA      | $-3600000.00  | -3.74%            | 2039-07-01      | Floating      | 3.44%                 | Yes           |                  2 | On Loan: No      |
| South Carolina St Public Svc Auth Revenue                    | South Carolina Public Service Authority                                      | CUSIP: 837151U49<br>LEI: EMBXY64GWKA9MZGFUD26 | Long             | DBT              | MUN               | US        |   2500000 | PA      | $2692015.75   | 2.80%             | 2052-12-01      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| San Francisco Ca City &cnty Arpts Commn Intl Arpt Rev        | San Francisco City & County Airport Comm-San Francisco International Airport | CUSIP: 79766DXQ7<br>LEI: 54930055TIDYHNDP4F84 | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2118539.80   | 2.20%             | 2055-05-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Alliancebernstein National Municipal Income Fund Inc         | AllianceBernstein National Municipal Income Fund, Inc.                       | CUSIP: 01864U106<br>LEI: MNYPOOOZYY8V01GEIT28 | Long             | EC               | RF                | US        |    133312 | NS      | $1442435.84   | 1.50%             |  |  |  | No            |                  1 | On Loan: No      |
| Tender Option Bond Trust Receipts / Ctfs Various States      | Tender Option Bond Trust Receipts/Certificates                               | CUSIP: 88035RQQ0<br>LEI: N/A                  | Short            | DBT              | MUN               | US        |  -5600000 | PA      | $-5600000.00  | -5.82%            | 2033-02-15      | Floating      | 2.60%                 | Yes           |                  2 | On Loan: No      |
| California St Univ Revenue                                   | California State University                                                  | CUSIP: 13077DSY9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2500000 | PA      | $2675762.50   | 2.78%             | 2053-11-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Eaton Vance National Municipal Opportunities Trust           | Eaton Vance National Municipal Opportunities Trust                           | CUSIP: 27829L105<br>LEI: 54930084Z1GHZMB5XL81 | Long             | EC               | RF                | US        |       842 | NS      | $14238.22     | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| New Jersey St Transprtn Trust Fund Auth                      | New Jersey Transportation Trust Fund Authority                               | CUSIP: 6461367M7<br>LEI: 549300YUVD5TEXR6L889 | Long             | DBT              | MUN               | US        |   2330000 | PA      | $2365353.79   | 2.46%             | 2050-06-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Ishares National Muni Bond Etf                               | iShares National Muni Bond ETF                                               | CUSIP: 464288414<br>LEI: 549300H21FUYFQW9N157 | Long             | EC               | RF                | US        |      8906 | NS      | $953921.66    | 0.99%             |  |  |  | No            |                  1 | On Loan: No      |
| Salt Lake City Ut Arpt Revenue                               | City of Salt Lake City UT Airport Revenue                                    | CUSIP: 795576HK6<br>LEI: 549300CRGKV67DRSGT85 | Long             | DBT              | MUN               | US        |   4500000 | PA      | $4556268.45   | 4.74%             | 2043-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Tender Option Bond Trust Receipts / Ctfs Various States      | Tender Option Bond Trust Receipts/Certificates                               | CUSIP: 88035RUC6<br>LEI: N/A                  | Short            | DBT              | MUN               | US        |  -3000000 | PA      | $-3000000.00  | -3.12%            | 2049-07-01      | Floating      | 3.35%                 | Yes           |                  2 | On Loan: No      |
| Nuveen Dynamic Municipal Opportunities Fund                  | Nuveen Dynamic Municipal Opportunities Fund                                  | CUSIP: 67079X102<br>LEI: 549300U0TWS55O2SJ275 | Long             | EC               | RF                | US        |      8848 | NS      | $89187.84     | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| Nuveen Amt-free Municipal Credit Income Fund                 | Nuveen AMT-Free Municipal Credit Income Fund                                 | CUSIP: 67071L106<br>LEI: 549300LBMO1C0IG71T03 | Long             | EC               | RF                | US        |     30690 | NS      | $388535.40    | 0.40%             |  |  |  | No            |                  1 | On Loan: No      |
| Eaton Vance Municipal Bond Fund                              | Eaton Vance Municipal Bond Fund                                              | CUSIP: 27827X101<br>LEI: 5493006Q4EBOXVQBQD12 | Long             | EC               | RF                | US        |    148463 | NS      | $1444544.99   | 1.50%             |  |  |  | No            |                  1 | On Loan: No      |
| Nuveen New York Amt-free Quality Municipal Income Fund       | Nuveen New York AMT-Free Quality Municipal Income Fund                       | CUSIP: 670656107<br>LEI: 549300V4X2BF3UXSCQ58 | Long             | EC               | RF                | US        |    105156 | NS      | $1061024.04   | 1.10%             |  |  |  | No            |                  1 | On Loan: No      |
| Gtr Asheville Regl Arpt Auth Nc Arpt Sys Revenue             | Greater Asheville Regional Airport Authority                                 | CUSIP: 39160CAT4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   4000000 | PA      | $4155466.00   | 4.32%             | 2052-07-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Columbus Oh Regl Arpt Auth Revenue                           | Columbus Regional Airport Authority                                          | CUSIP: 199546DD1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1578581.85   | 1.64%             | 2055-01-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Tender Option Bond Trust Receipts / Ctfs Various States      | Tender Option Bond Trust Receipts/Certificates                               | CUSIP: 88035GXN3<br>LEI: N/A                  | Short            | DBT              | MUN               | US        |  -3200000 | PA      | $-3200000.00  | -3.33%            | 2031-06-01      | Floating      | 3.32%                 | Yes           |                  2 | On Loan: No      |
| Nuveen Pennsylvania Quality Municipal Income Fund            | Nuveen Pennsylvania Quality Municipal Income Fund                            | CUSIP: 670972108<br>LEI: 5493000C1CS4Q000GF67 | Long             | EC               | RF                | US        |     88956 | NS      | $1057686.84   | 1.10%             |  |  |  | No            |                  1 | On Loan: No      |
| Blackrock Municipal 2030 Target Term Trust                   | BlackRock Municipal 2030 Target Term Trust                                   | CUSIP: 09257P105<br>LEI: 549300TDIJ2J8F6X3N04 | Long             | EC               | RF                | US        |    129508 | NS      | $2955372.56   | 3.07%             |  |  |  | No            |                  1 | On Loan: No      |
| Blackrock Municipal Income Trust Ii                          | BlackRock Municipal Income Trust II                                          | CUSIP: 09249N101<br>LEI: 17UVWS2OK706BUPLKK60 | Long             | EC               | RF                | US        |    190679 | NS      | $1990688.76   | 2.07%             |  |  |  | No            |                  1 | On Loan: No      |
| Michigan St Trunk Line                                       | State of Michigan Trunk Line Revenue                                         | CUSIP: 5946954N5<br>LEI: CADMV8WVNQO7XM117W54 | Long             | DBT              | MUN               | US        |   3000000 | PA      | $3326452.20   | 3.46%             | 2044-11-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Western Asset Intermediate Muni Fund                         | Western Asset Intermediate Municipal Fund                                    | CUSIP: 958435109<br>LEI: 5493000MG5MROBD48K57 | Long             | EC               | RF                | US        |       704 | NS      | $5406.72      | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Tender Option Bond Trust Receipts / Ctfs                     | Tender Option Bond Trust Receipts/Certificates                               | CUSIP: 88035DZH1<br>LEI: N/A                  | Short            | DBT              | MUN               | US        |  -1650000 | PA      | $-1650000.00  | -1.71%            | 2030-03-15      | Floating      | 3.35%                 | Yes           |                  2 | On Loan: No      |
| Putnam Municipal Opportunities Trust                         | Putnam Municipal Opportunities Trust                                         | CUSIP: 746922103<br>LEI: 549300M74BR4G95PSL96 | Long             | EC               | RF                | US        |     58299 | NS      | $623799.30    | 0.65%             |  |  |  | No            |                  1 | On Loan: No      |
| Pimco California Municipal Income Fund                       | PIMCO California Municipal Income Fund                                       | CUSIP: 72200N106<br>LEI: M4DHYCROG6SFNO22X437 | Long             | EC               | RF                | US        |    106688 | NS      | $931387.42    | 0.97%             |  |  |  | No            |                  1 | On Loan: No      |
| Puerto Rico Cmwlth                                           | Commonwealth of Puerto Rico                                                  | CUSIP: 74514L3L9<br>LEI: 549300X44HXPLJU48U63 | Long             | DBT              | MUN               | PR        |   1010000 | PA      | $993366.61    | 1.03%             | 2035-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Tender Option Bond Trust Receipts / Ctfs Various States      | Tender Option Bond Trust Receipts/Certificates                               | CUSIP: 88035AE64<br>LEI: N/A                  | Short            | DBT              | MUN               | US        |  -3750000 | PA      | $-3750000.00  | -3.90%            | 2052-08-01      | Floating      | 3.38%                 | Yes           |                  2 | On Loan: No      |
| Blackrock Long-term Municipal Advantage Trust                | BlackRock Long-Term Municipal Advantage Trust                                | CUSIP: 09250B103<br>LEI: G3XW7SJTEWPATVFP0M68 | Long             | EC               | RF                | US        |     43754 | NS      | $406037.12    | 0.42%             |  |  |  | No            |                  1 | On Loan: No      |
| Blackrock New York Municipal Income Trust                    | BlackRock New York Municipal Income Trust                                    | CUSIP: 09248L106<br>LEI: PJKTUMDJPIZ89SB71052 | Long             | EC               | RF                | US        |     66429 | NS      | $673590.06    | 0.70%             |  |  |  | No            |                  1 | On Loan: No      |
| Blackrock Municipal Income Quality Trust                     | BlackRock Municipal Income Quality Trust                                     | CUSIP: 092479104<br>LEI: ZQ1Z8W71OQGQTC6ZJ410 | Long             | EC               | RF                | US        |     52501 | NS      | $574360.94    | 0.60%             |  |  |  | No            |                  1 | On Loan: No      |
| Blackrock Investment Quality Municipal Trust Inc/the         | BlackRock Investment Quality Municipal Trust, Inc.                           | CUSIP: 09247D105<br>LEI: HIQUII1IK2OOB2XHIJ72 | Long             | EC               | RF                | US        |     78272 | NS      | $876646.40    | 0.91%             |  |  |  | No            |                  1 | On Loan: No      |
| Tender Option Bond Trust Receipts / Ctfs Various States      | Tender Option Bond Trust Receipts/Certificates                               | CUSIP: 88034XXV9<br>LEI: N/A                  | Short            | DBT              | MUN               | US        |  -1745000 | PA      | $-1745000.00  | -1.81%            | 2028-12-15      | Floating      | 3.47%                 | Yes           |                  2 | On Loan: No      |
| Pimco New York Municipal Income Fund Ii                      | PIMCO New York Municipal Income Fund II                                      | CUSIP: 72200Y102<br>LEI: P1IBOVZHA4PI2PLT9Q65 | Long             | EC               | RF                | US        |     50639 | NS      | $348902.71    | 0.36%             |  |  |  | No            |                  1 | On Loan: No      |
| Kentucky Bond Dev Corp Indl Bldg Revenue                     | Kentucky Bond Development Corp.                                              | CUSIP: 491211BQ0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   4500000 | PA      | $4645316.70   | 4.83%             | 2044-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| New Hope Cultural Edu Facs Fin Corp Tx Hosp Revenue          | New Hope Cultural Education Facilities Finance Corp.                         | CUSIP: 645424BP6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3000000 | PA      | $3260494.20   | 3.39%             | 2049-08-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Tender Option Bond Trust Receipts / Ctfs Various States      | Tender Option Bond Trust Receipts/Certificates                               | CUSIP: 88035FP20<br>LEI: N/A                  | Short            | DBT              | MUN               | US        |  -2260000 | PA      | $-2260000.00  | -2.35%            | 2052-05-01      | Floating      | 3.37%                 | Yes           |                  2 | On Loan: No      |
| Clark Cnty Nv Wtr Reclamation Dist                           | Clark County Water Reclamation District                                      | CUSIP: 181070GB3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   4000000 | PA      | $4162028.40   | 4.33%             | 2049-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Blackrock Muniyield Fund Inc                                 | BlackRock MuniYield Fund, Inc.                                               | CUSIP: 09253W104<br>LEI: AVXF9RZVI4EDWXACOH81 | Long             | EC               | RF                | US        |    253601 | NS      | $2660274.49   | 2.76%             |  |  |  | No            |                  1 | On Loan: No      |
| Mfs Municipal Income Trust                                   | MFS Municipal Income Trust                                                   | CUSIP: 552738106<br>LEI: GV4WN51HRTKYT6CV5890 | Long             | EC               | RF                | US        |     40055 | NS      | $217498.65    | 0.23%             |  |  |  | No            |                  1 | On Loan: No      |
| Port Auth Of New York & New Jersey Ny                        | Port Authority of New York & New Jersey                                      | CUSIP: 73358XFS6<br>LEI: 54930006MR4KZ4W74Z83 | Long             | DBT              | MUN               | US        |   5000000 | PA      | $5275326.50   | 5.48%             | 2052-08-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Tender Option Bond Trust Receipts / Ctfs Various States      | Tender Option Bond Trust Receipts/Certificates                               | CUSIP: 88035MBX2<br>LEI: N/A                  | Short            | DBT              | MUN               | US        |  -1600000 | PA      | $-1600000.00  | -1.66%            | 2032-11-01      | Floating      | 2.25%                 | Yes           |                  2 | On Loan: No      |
| Chicago Board of Trade                                       | US 10Yr Note Future                                                          | CUSIP: N/A<br>LEI: 549300EX04Q2QBFQTQ27       | N/A              | DIR              | CORP              | US        |      -390 | NC      | $-43850625.00 | -45.58%           |  |  |  | No            |                  1 | On Loan: No      |
| New York St Transprtn Dev Corp Spl Fac Revenue               | New York Transportation Development Corp.                                    | CUSIP: 650116JK3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2172300.40   | 2.26%             | 2050-06-30      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Tender Option Bond Trust Receipts / Ctfs Various States      | Tender Option Bond Trust Receipts/Certificates                               | CUSIP: 88035GGN2<br>LEI: N/A                  | Short            | DBT              | MUN               | US        |  -1600000 | PA      | $-1600000.00  | -1.66%            | 2029-05-15      | Floating      | 2.60%                 | Yes           |                  2 | On Loan: No      |
| Puerto Rico Cmwlth Aqueduct &swr Auth Revenue                | Puerto Rico Commonwealth Aqueduct & Sewer Authority                          | CUSIP: 745160TH4<br>LEI: N/A                  | Long             | DBT              | MUN               | PR        |   3000000 | PA      | $2838691.20   | 2.95%             | 2042-07-01      | Fixed         | 4.00%                 | Yes           |                  2 | On Loan: No      |
| Neuberger Municipal Fund Inc                                 | Neuberger Municipal Fund, Inc.                                               | CUSIP: 64124P101<br>LEI: 549300IIZWX8QVUHXO20 | Long             | EC               | RF                | US        |    104815 | NS      | $1060727.80   | 1.10%             |  |  |  | No            |                  1 | On Loan: No      |
| Tender Option Bond Trust Receipts / Ctfs Various States      | Tender Option Bond Trust Receipts/Certificates                               | CUSIP: 88035GMW5<br>LEI: N/A                  | Short            | DBT              | MUN               | US        |  -2250000 | PA      | $-2250000.00  | -2.34%            | 2044-11-15      | Floating      | 3.35%                 | Yes           |                  2 | On Loan: No      |
| Tender Option Bond Trust Receipts / Ctfs                     | Tender Option Bond Trust Receipts/Certificates                               | CUSIP: 88035DSM8<br>LEI: N/A                  | Short            | DBT              | MUN               | US        |  -4000000 | PA      | $-4000000.00  | -4.16%            | 2030-01-01      | Floating      | 3.47%                 | Yes           |                  2 | On Loan: No      |
| Western Asset Managed Municipals Fund Inc                    | Western Asset Managed Municipals Fund, Inc.                                  | CUSIP: 95766M105<br>LEI: 549300HVO8EY2T8K4F73 | Long             | EC               | RF                | US        |    220979 | NS      | $2307020.76   | 2.40%             |  |  |  | No            |                  1 | On Loan: No      |
| Las Vegas Nv Convention & Visitors Auth Convention Ctr Expan | Las Vegas Convention & Visitors Authority                                    | CUSIP: 51771FAT3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1023109.90   | 1.06%             | 2043-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |

### Signature

**Date Signed:** 2026-01-30

**Name of Applicant:** RiverNorth Flexible Municipal Income Fund Inc.

**Signature:** Jonathan M. Mohrhardt

**Name of Signer:** Jonathan M. Mohrhardt

**Title:** Treasurer & Chief Financial Officer