Managers / Q4 2019 · view latest →
Northern Right Capital Management, L.P.
CIK 0001346543 · 9 OLD KINGS HWY. S., 4TH FLOOR, DARIEN, CT, 06820 · (203) 951-6084
Summary
Northern Right Capital Management, L.P. reported $106M in U.S.-listed holdings across 24 positions for Q4 2019.
Its largest position, Iac Interactivecorp, represents 16.3% of the portfolio.
Compared with Q3 2019, the fund opened 11 new positions and exited 3.
Portfolio Metrics
Methodology: turnover is min(value bought, value sold) ÷ average reported value across the two quarters — value-based, so market moves inflate it slightly versus a share-based measure. Concentration and largest position are shares of the filing’s total reported value, options excluded, with multiple share classes and repeated sub-manager rows for the same issuer combined into one position — the same rule the holdings table uses by default. New/exited counts compare against the prior filed quarter. All figures derive solely from the fund’s 13F filings.
Reported Value by Quarter
Portfolio Composition
- Common Stock · 81.9% · $87M
- Other · 13.4% · $14M
- Ltd Part · 2.1% · $2M
- MLP · 1.5% · $2M
- REIT · 0.8% · $870,000
- Closed-End Fund · 0.2% · $253,000
Quarter-over-Quarter Changes full breakdown →
vs Q3 2019 (amended baseline)
| Issuer | Move | Share Δ | Shares now | Value Δ | Value now |
|---|---|---|---|---|---|
| QSRRESTAURANT BRANDS INTL INC | NEW | +90.0K | 90.0K | +$6M | $6M |
| RAHRECRO PHARMA INC | NEW | +232.4K | 232.4K | +$4M | $4M |
| TPBTURNING PT BRANDS INC | NEW | +85.6K | 85.6K | +$2M | $2M |
| BAUDAX BIO INC | NEW | +190.7K | 190.7K | +$1M | $1M |
| WOWWIDEOPENWEST INC | NEW | +159.5K | 159.5K | +$1M | $1M |
| STWDSTARWOOD PPTY TR INC | NEW | +35.0K | 35.0K | +$870,000 | $870,000 |
| EPDENTERPRISE PRODS PARTNERS L | NEW | +28.1K | 28.1K | +$791,000 | $791,000 |
| ETENERGY TRANSFER LP | NEW | +46.7K | 46.7K | +$599,000 | $599,000 |
Value changes conflate price moves with buying and selling — share changes are the real signal. Share counts are not split-adjusted.
Holdings — Q4 2019
| # | Issuer | Class | % Portfolio | Value ↓ | Shares |
|---|---|---|---|---|---|
| 1 | IAC INTERACTIVECORP | COM | 16.29% | $17M | 69.6K |
| 2 | EVERI HLDGS INC | COM | 11.18% | $12M | 885.4K |
| 3 | PRGXPRGX GLOBAL INChistory → | COM NEW | 9.38% | $10M | 2.03M |
| 4 | ARESARES MANAGEMENT CORPORATIONhistory → | CL A COM STK | 8.69% | $9M | 259.0K |
| 5 | GREAT ELM CAP GROUP INC | COM NEW | 7.54% | $8M | 2.40M |
| 6 | INTEVAC INC | COM | 6.76% | $7M | 1.02M |
| 7 | OUTFRONT MEDIA INC | COM | 5.43% | $6M | 215.4K |
| 8 | QSRRESTAURANT BRANDS INTL INChistory → | COM | 5.39% | $6M | 90.0K |
| 9 | RAHRECRO PHARMA INChistory → | COM | 4.00% | $4M | 232.4K |
| 10 | ZIXIZIX CORPhistory → | COM | 3.93% | $4M | 617.4K |
| 11 | FUNSIX FLAGS ENTMT CORP NEWhistory → | COM | 3.47% | $4M | 81.8K |
| 12 | EMCORE CORP | COM NEW | 3.37% | $4M | 1.18M |
| 13 | ENVIVA PARTNERS LP | COM UNIT | 2.80% | $3M | 79.9K |
| 14 | TPBTURNING PT BRANDS INChistory → | COM | 2.30% | $2M | 85.6K |
| 15 | FORTRESS TRANS INFRST INVS L | COM REP LTD LIAB | 2.05% | $2M | 111.6K |
| 16 | ANGI HOMESERVICES INC | COM CL A | 1.92% | $2M | 241.1K |
| 17 | BAUDAX BIO INC | COM | 1.24% | $1M | 190.7K |
| 18 | WOWWIDEOPENWEST INChistory → | COM | 1.11% | $1M | 159.5K |
| 19 | STWDSTARWOOD PPTY TR INC | COM | 0.82% | $870,000 | 35.0K |
| 20 | EPDENTERPRISE PRODS PARTNERS L | COM | 0.74% | $791,000 | 28.1K |
| 21 | ETENERGY TRANSFER LP | COM UT LTD PTN | 0.56% | $599,000 | 46.7K |
| 22 | ARCCARES CAP CORP | COM | 0.53% | $560,000 | 30.0K |
| 23 | MPLXMPLX LP | COM UNIT REP LTD | 0.24% | $255,000 | 10.0K |
| 24 | AVKADVENT CONVERTIBLE & INCOME | COM | 0.24% | $253,000 | 16.3K |
Filing History
| Quarter | Reported Value | Positions | Filed | Type | Links |
|---|---|---|---|---|---|
| Q1 2026 | $281M | 25 | May 15, 2026 | 13F-HR | changes · EDGAR ↗ |
| Q4 2025 | $381M | 27 | Feb 17, 2026 | 13F-HR | changes · EDGAR ↗ |
| Q3 2025 | $323M | 24 | Nov 14, 2025 | 13F-HR | changes · EDGAR ↗ |
| Q2 2025 | $292M | 24 | Aug 15, 2025 | RESTATEMENT | changes · EDGAR ↗ |
| Q1 2025 | $245M | 23 | May 15, 2025 | 13F-HR | changes · EDGAR ↗ |
| Q4 2024 | $270M | 24 | Feb 14, 2025 | 13F-HR | changes · EDGAR ↗ |
| Q3 2024 | $269M | 27 | Nov 14, 2024 | 13F-HR | changes · EDGAR ↗ |
| Q2 2024 | $271M | 29 | Aug 14, 2024 | 13F-HR | changes · EDGAR ↗ |
| Q1 2024 | $278M | 30 | May 15, 2024 | 13F-HR | changes · EDGAR ↗ |
| Q4 2023 | $250M | 28 | Feb 14, 2024 | 13F-HR | changes · EDGAR ↗ |
| Q3 2023 | $257M | 27 | Nov 14, 2023 | 13F-HR | changes · EDGAR ↗ |
| Q2 2023 | $248M | 26 | Aug 14, 2023 | 13F-HR | changes · EDGAR ↗ |
| Q1 2023 | $197M | 21 | May 15, 2023 | 13F-HR | changes · EDGAR ↗ |
| Q4 2022 | $179M | 20 | Feb 14, 2023 | 13F-HR | changes · EDGAR ↗ |
| Q3 2022 | $189M | 24 | Nov 15, 2022 | 13F-HR | changes · EDGAR ↗ |
| Q2 2022 | $169M | 21 | Aug 15, 2022 | 13F-HR | changes · EDGAR ↗ |
| Q1 2022 | $231M | 31 | May 16, 2022 | 13F-HR | changes · EDGAR ↗ |
| Q4 2021 | $330M | 79 | Feb 14, 2022 | 13F-HR | changes · EDGAR ↗ |
| Q3 2021 | $338M | 87 | Nov 15, 2021 | 13F-HR | changes · EDGAR ↗ |
| Q2 2021 | $342M | 79 | Aug 16, 2021 | 13F-HR | changes · EDGAR ↗ |
| Q1 2021 | $354M | 87 | May 17, 2021 | 13F-HR | changes · EDGAR ↗ |
| Q4 2020 | $276M | 55 | Feb 16, 2021 | 13F-HR | changes · EDGAR ↗ |
| Q3 2020 | $191M | 41 | Nov 16, 2020 | 13F-HR | changes · EDGAR ↗ |
| Q2 2020 | $162M | 29 | Aug 14, 2020 | 13F-HR | changes · EDGAR ↗ |
| Q1 2020 | $69M | 20 | May 15, 2020 | 13F-HR | changes · EDGAR ↗ |
| Q4 2019 | $106M | 24 | Feb 14, 2020 | 13F-HR | changes · EDGAR ↗ |
| Q3 2019 | $75M | 16 | Nov 14, 2019 | 13F-HR | changes · EDGAR ↗ |
| Q2 2019 | $113M | 22 | Aug 14, 2019 | 13F-HR | changes · EDGAR ↗ |
| Q1 2019 | $115M | 19 | May 15, 2019 | 13F-HR | changes · EDGAR ↗ |
| Q4 2018 | $89M | 14 | Feb 14, 2019 | 13F-HR | changes · EDGAR ↗ |
13F filings are due up to 45 days after quarter end, so holdings shown here lag the fund’s current book. Source: original SEC filing on EDGAR ↗.