UNITED STATES
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SECURITIES AND EXCHANGE COMMISSION
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Washington, D.C. 20549
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SCHEDULE 13D
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Under the Securities Exchange Act of 1934
(Amendment No. 2)*
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Franklin Limited Duration Income Trust
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(Name of Issuer)
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Auction Rate Preferred Shares
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(Title of Class of Securities)
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35472T200
35472T309
35472T408
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(CUSIP Number(s))
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Marc Collins
RiverNorth Capital Management, LLC
325 N. LaSalle St., Suite 645
Chicago, Illinois 60654-7030
(312) 445-2251
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(Name, Address and Telephone Number of Person
Authorized to Receive Notices and Communications)
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August 8, 2017
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(Date of Event which Requires Filing of this Statement)
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If the filing person has previously filed a statement on Schedule 13G to report the acquisition that is the subject of this Schedule 13D, and is filing this schedule because of §§240.13d-1(e), 240.13d-1(f) or 240.13d‑1(g), check the following box. ☐
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Note: Schedules filed in paper format shall include a signed original and five copies of the schedule, including all exhibits. See §240.13d-7 for other parties to whom copies are to be sent.
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*The remainder of this cover page shall be filled out for a reporting person’s initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter disclosures provided in a prior cover page.
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The information required on the remainder of this cover page shall not be deemed to be “filed” for the purpose of Section 18 of the Securities Exchange Act of 1934 (“Act”) or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes).
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CUSIP No.
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35472T200
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1. Names of Reporting Persons.
I.R.S. Identification Nos. of above persons (entities only).
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RiverNorth Capital Management, LLC
I.R.S. Identification No.: 27-1560688
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2. Check the Appropriate Box if a Member of a Group (See Instructions):
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(a) ☐
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(b) ☐
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3. SEC Use Only
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4. Source of Funds (See Instructions):
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WC
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5. Check if Disclosure of Legal Proceedings Is Required Pursuant to Items 2(d) or 2(e): ☐
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6. Citizenship or Place of Organization:
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Delaware
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Number of
Shares
Beneficially Owned
by Each
Reporting
Person With
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7. Sole Voting Power:
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0
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8. Shared Voting Power:
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—
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9. Sole Dispositive Power:
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0
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10. Shared Dispositive Power:
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—
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11. Aggregate Amount Beneficially Owned by Each Reporting Person:
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0
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12. Check if the Aggregate Amount in Row (11) Excludes Certain Shares (See Instructions):
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☐
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13. Percent of Class Represented by Amount in Row (11):
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0%
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14. Type of Reporting Person (See Instructions):
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IA
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CUSIP No.
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35472T200
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|||||||||||||||||
1. Names of Reporting Persons.
I.R.S. Identification Nos. of above persons (entities only).
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RiverNorth Capital Partners, L.P.
I.R.S. Identification No.: 20-8247249
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2. Check the Appropriate Box if a Member of a Group (See Instructions):
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(a) ☐
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(b) ☐
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3. SEC Use Only
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||||||||||||||||||
4. Source of Funds (See Instructions):
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WC
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5. Check if Disclosure of Legal Proceedings Is Required Pursuant to Items 2(d) or 2(e): ☐
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|||||||||||||||||
6. Citizenship or Place of Organization:
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Delaware
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Number of
Shares
Beneficially Owned
by Each
Reporting
Person With
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7. Sole Voting Power:
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—
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||||||||||||||||
8. Shared Voting Power:
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0
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|||||||||||||||||
9. Sole Dispositive Power:
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—
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|||||||||||||||||
10. Shared Dispositive Power:
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0
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|||||||||||||||||
11. Aggregate Amount Beneficially Owned by Each Reporting Person:
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0
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12. Check if the Aggregate Amount in Row (11) Excludes Certain Shares (See Instructions): ☐
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|||||||||||||||||
13. Percent of Class Represented by Amount in Row (11):
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0%
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14. Type of Reporting Person (See Instructions):
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PN
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CUSIP No.
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35472T200
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1. Names of Reporting Persons.
I.R.S. Identification Nos. of above persons (entities only).
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||||||||||||||||||
RiverNorth Institutional Partners, L.P.
I.R.S. Identification No.: 27-1087172
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2. Check the Appropriate Box if a Member of a Group (See Instructions):
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||||||||||||||||||
(a) ☐
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(b) ☐
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3. SEC Use Only
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||||||||||||||||||
4. Source of Funds (See Instructions):
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WC
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|||||||||||||||||
5. Check if Disclosure of Legal Proceedings Is Required Pursuant to Items 2(d) or 2(e): ☐
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|||||||||||||||||
6. Citizenship or Place of Organization:
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Delaware
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|||||||||||||||||
Number of
Shares
Beneficially Owned
by Each
Reporting
Person With
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7. Sole Voting Power:
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—
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||||||||||||||||
8. Shared Voting Power:
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0
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|||||||||||||||||
9. Sole Dispositive Power:
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—
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|||||||||||||||||
10. Shared Dispositive Power:
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0
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|||||||||||||||||
11. Aggregate Amount Beneficially Owned by Each Reporting Person:
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0
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|||||||||||||||||
12. Check if the Aggregate Amount in Row (11) Excludes Certain Shares (See Instructions):
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||||||||||||||||||
13. Percent of Class Represented by Amount in Row (11):
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0%
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|||||||||||||||||
14. Type of Reporting Person (See Instructions):
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||||||||||||||||||
PN
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No. of | |||
Date
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Nature of Transaction
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Shares
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Price
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8/8/2017
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Disposed
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694
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94% of par
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8/8/2017
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Disposed
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601
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94% of par
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8/8/2017
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Disposed
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525
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94% of par
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Exhibit
99.1
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Description
Joint Filing Agreement, dated as of August 19, 2016, by and among the Reporting Persons.
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August 11, 2017
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RiverNorth Capital Management, LLC
By: /s/Marcus Collins Marcus Collins, General Counsel and Chief Compliance Officer |
RiverNorth Capital Partners, L.P.
By: RiverNorth Capital Management, LLC, General Partner
By: /s/Marcus Collins
Marcus Collins, General Counsel and Chief Compliance Officer
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RiverNorth Institutional Partners, L.P.
By: RiverNorth Capital Management, LLC, General Partner
By: /s/Marcus Collins
Marcus Collins, General Counsel and Chief Compliance Officer
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NAME
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PRINCIPAL OCCUPATION(S)
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Schmucker, Brian H.
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Chief Executive Officer of RiverNorth; Principal of RiverNorth Holding Co.
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Galley, Patrick W.
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Chief Investment Officer of RiverNorth; Principal of RiverNorth Holding Co.
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Mohrhardt, Jonathan M.
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Chief Operating Officer of RiverNorth
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Collins, Marcus L.
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General Counsel and Chief Compliance Officer of RiverNorth
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August 19, 2016
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RiverNorth Capital Management, LLC
By: /s/Marcus Collins Marcus Collins, General Counsel and Chief Compliance Officer
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RiverNorth Capital Partners, L.P.
By: RiverNorth Capital Management, LLC, General Partner
By: /s/Marcus Collins
Marcus Collins, General Counsel and Chief Compliance Officer
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RiverNorth Institutional Partners, L.P.
By: RiverNorth Capital Management, LLC, General Partner
By: /s/Marcus Collins
Marcus Collins, General Counsel and Chief Compliance Officer
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