SEC 13F Intelligence

Managers / Q4 2023 · view latest →

Northern Right Capital Management, L.P.

CIK 0001346543 · 9 OLD KINGS HWY. S., 4TH FLOOR, DARIEN, CT, 06820 · (203) 951-6084

Reported Value
$250M
Q4 2023
Positions
28
Filings on Record
31
2019–present window
Filed
Feb 14, 2024
original filing

Summary

Northern Right Capital Management, L.P. reported $250M in U.S.-listed holdings across 28 positions for Q4 2023.

Its largest position, APO, represents 11.8% of the portfolio.

Compared with Q3 2023, the fund opened 5 new positions and exited 4.

Portfolio Metrics

Turnover
+25.1%
vs prior filed quarter
Top-10 Concentration
+67.8%
share of reported value
Largest Position
+11.8%
Apollo Global Mgmt
New / Exited
5 / 4
positions this quarter

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. New/exited counts compare against the prior filed quarter. All figures derive solely from the fund’s 13F filings.

Reported Value by Quarter

13F Reported Value
Q4 ’18: $89MQ4 ’18Q1 ’19: $115MQ2 ’19: $113MQ3 ’19: $75MQ4 ’19: $106MQ4 ’19Q1 ’20: $69MQ2 ’20: $162MQ3 ’20: $191MQ4 ’20: $276MQ4 ’20Q1 ’21: $354MQ2 ’21: $342MQ3 ’21: $338MQ4 ’21: $330MQ4 ’21Q1 ’22: $231MQ2 ’22: $169MQ3 ’22: $189MQ4 ’22: $179MQ4 ’22Q1 ’23: $197MQ2 ’23: $248MQ3 ’23: $257MQ4 ’23: $250MQ4 ’23Q1 ’24: $278MQ2 ’24: $271MQ3 ’24: $269MQ4 ’24: $270MQ4 ’24Q1 ’25: $245MQ2 ’25: $292MQ3 ’25: $323MQ4 ’25: $381MQ4 ’25Q1 ’26: $281Mfilingsflow.com

Portfolio Composition

By security type
Common Stock: 85.9%Other: 7.2%REIT: 5.7%MLP: 1.2%
  • Common Stock · 85.9% · $214M
  • Other · 7.2% · $18M
  • REIT · 5.7% · $14M
  • MLP · 1.2% · $3M

Quarter-over-Quarter Changes full breakdown →

vs Q3 2023 (amended baseline)

IssuerMoveShare ΔShares nowValue ΔValue now
WEXWEX INCNEW+48.9K48.9K+$10M$10M
ERMENEGILDO ZEGNA N VNEW+631.9K631.9K+$7M$7M
AGNCAGNC INVT CORPNEW+575.0K575.0K+$6M$6M
RITMRITHM CAPITAL CORPNEW+454.0K454.0K+$5M$5M
MITTAG MTG INVT TR INCNEW+585.0K585.0K+$4M$4M
4I1PHILIP MORRIS INTL INCADDED+60.0K95.0K+$6M$9M
PYPLPAYPAL HLDGS INCSOLD OUT−115.0K0−$7M$0
MTCHMATCH GROUP INC NEWSOLD OUT−128.7K0−$5M$0

Value changes conflate price moves with buying and selling — share changes are the real signal. Share counts are not split-adjusted.

Holdings — Q4 2023

26 positions
Export to Excel
#IssuerClass% PortfolioValue ↓Shares
1NWSANEWS CORP NEWCL A · CL B11.98%$30M1.21M
2APOAPOLLO GLOBAL MGMT INChistory →COM11.79%$29M315.8K
30J7QIAC INChistory →COM NEW8.66%$22M412.4K
4ARESARES MANAGEMENT CORPORATIONhistory →CL A COM STK8.33%$21M174.9K
5MSGSMADISON SQUARE GRDN SPRT CORhistory →CL A6.65%$17M91.3K
6MSGEMADISON SQUARE GARDEN ENTMThistory →COM CL A6.44%$16M505.3K
7FTAI AVIATION LTDSHS4.28%$11M230.0K
8WEXWEX INChistory →COM3.81%$10M48.9K
9BXSLBLACKSTONE SECD LENDING FDhistory →COMMON STOCK3.62%$9M326.8K
104I1PHILIP MORRIS INTL INChistory →COM3.58%$9M95.0K
11GECCGREAT ELM CAP CORPhistory →COM NEW3.41%$8M798.5K
12GEGGREAT ELM GROUP INChistory →COM NEW3.26%$8M4.19M
13NDAQNASDAQ INChistory →COM3.14%$8M135.0K
14ERMENEGILDO ZEGNA N VORD SHS2.93%$7M631.9K
15INVNIDENTIV INChistory →COM NEW2.87%$7M870.6K
16MFICMIDCAP FINANCIAL INVSTMNT COhistory →COM NEW2.42%$6M442.4K
17AGNCAGNC INVT CORPhistory →COM2.26%$6M575.0K
18RITMRITHM CAPITAL CORPhistory →COM NEW1.94%$5M454.0K
19UBERUBER TECHNOLOGIES INChistory →COM1.77%$4M71.8K
20MITTAG MTG INVT TR INChistory →COM NEW1.49%$4M585.0K
21BYDBOYD GAMING CORPhistory →COM1.39%$3M55.4K
22MGMMGM RESORTS INTERNATIONALhistory →COM1.25%$3M70.1K
23ETENERGY TRANSFER L Phistory →COM UT LTD PTN1.24%$3M223.6K
24SRTABLADE AIR MOBILITY INChistory →CL A COM1.04%$3M737.4K
25SIGASIGA TECHNOLOGIES INCCOM0.08%$193,36834.5K
26DUOTDUOS TECHNOLOGIES GROUP INCCOM0.07%$181,35462.5K

Filing History

QuarterReported ValuePositionsFiledTypeLinks
Q1 2026$281M25May 15, 202613F-HRchanges · EDGAR ↗
Q4 2025$381M27Feb 17, 202613F-HRchanges · EDGAR ↗
Q3 2025$323M24Nov 14, 202513F-HRchanges · EDGAR ↗
Q2 2025$292M24Aug 15, 2025RESTATEMENTchanges · EDGAR ↗
Q1 2025$245M23May 15, 202513F-HRchanges · EDGAR ↗
Q4 2024$270M24Feb 14, 202513F-HRchanges · EDGAR ↗
Q3 2024$269M27Nov 14, 202413F-HRchanges · EDGAR ↗
Q2 2024$271M29Aug 14, 202413F-HRchanges · EDGAR ↗
Q1 2024$278M30May 15, 202413F-HRchanges · EDGAR ↗
Q4 2023$250M28Feb 14, 202413F-HRchanges · EDGAR ↗
Q3 2023$257M27Nov 14, 202313F-HRchanges · EDGAR ↗
Q2 2023$248M26Aug 14, 202313F-HRchanges · EDGAR ↗
Q1 2023$197M21May 15, 202313F-HRchanges · EDGAR ↗
Q4 2022$179M20Feb 14, 202313F-HRchanges · EDGAR ↗
Q3 2022$189M24Nov 15, 202213F-HRchanges · EDGAR ↗
Q2 2022$169M21Aug 15, 202213F-HRchanges · EDGAR ↗
Q1 2022$231M31May 16, 202213F-HRchanges · EDGAR ↗
Q4 2021$330M79Feb 14, 202213F-HRchanges · EDGAR ↗
Q3 2021$338M87Nov 15, 202113F-HRchanges · EDGAR ↗
Q2 2021$342M79Aug 16, 202113F-HRchanges · EDGAR ↗
Q1 2021$354M87May 17, 202113F-HRchanges · EDGAR ↗
Q4 2020$276M55Feb 16, 202113F-HRchanges · EDGAR ↗
Q3 2020$191M41Nov 16, 202013F-HRchanges · EDGAR ↗
Q2 2020$162M29Aug 14, 202013F-HRchanges · EDGAR ↗
Q1 2020$69M20May 15, 202013F-HRchanges · EDGAR ↗
Q4 2019$106M24Feb 14, 202013F-HRchanges · EDGAR ↗
Q3 2019$75M16Nov 14, 201913F-HRchanges · EDGAR ↗
Q2 2019$113M22Aug 14, 201913F-HRchanges · EDGAR ↗
Q1 2019$115M19May 15, 201913F-HRchanges · EDGAR ↗
Q4 2018$89M14Feb 14, 201913F-HRchanges · 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 ↗.