SEC 13F Intelligence

Managers / Q3 2025 · 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
$323M
Q3 2025
Positions
24
Filings on Record
31
2019–present window
Filed
Nov 14, 2025
original filing

Summary

Northern Right Capital Management, L.P. reported $323M in U.S.-listed holdings across 24 positions for Q3 2025.

Its largest position, NWSA, represents 11.1% of the portfolio.

Compared with Q2 2025, the fund opened 8 new positions and exited 8.

Portfolio Metrics

Turnover
+34.1%
vs prior filed quarter
Top-10 Concentration
+70.5%
share of reported value
Largest Position
+11.1%
News
New / Exited
8 / 8
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: 85.4%Other: 6.6%REIT: 6.0%MLP: 2.0%
  • Common Stock · 85.4% · $276M
  • Other · 6.6% · $21M
  • REIT · 6.0% · $19M
  • MLP · 2.0% · $6M

Quarter-over-Quarter Changes full breakdown →

vs Q2 2025 (amended baseline)

IssuerMoveShare ΔShares nowValue ΔValue now
NORWEGIAN CRUISE LINE HLDG LNEW+790.8K790.8K+$19M$19M
DBRGDIGITALBRIDGE GROUP INCNEW+1.38M1.38M+$16M$16M
FOXFOX CORPNEW+227.2K227.2K+$13M$13M
ECHOECHOSTAR CORPNEW+145.0K145.0K+$11M$11M
VRTVERTIV HOLDINGS CONEW+58.7K58.7K+$9M$9M
CTRICENTURI HOLDINGS INCNEW+321.1K321.1K+$7M$7M
DUOTDUOS TECHNOLOGIES GROUP INCNEW+777.6K777.6K+$6M$6M
SMRTSMARTRENT INCNEW+2.65M2.65M+$4M$4M

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

Holdings — Q3 2025

23 positions
Export to Excel
#IssuerClass% PortfolioValue ↓Shares
1NWSANEWS CORP NEWCL A · CL B12.60%$41M1.31M
2HHHHOWARD HUGHES HOLDINGS INChistory →COM7.69%$25M302.4K
3APOAPOLLO GLOBAL MGMT INChistory →COM7.68%$25M186.2K
4HUTHUT 8 CORPhistory →COM7.38%$24M684.9K
5MSGEMADISON SQUARE GARDEN ENTMThistory →COM CL A6.66%$22M475.9K
6PINSPINTEREST INChistory →CL A6.58%$21M661.1K
7TKOTKO GROUP HOLDINGS INChistory →CL A6.39%$21M102.2K
8NORWEGIAN CRUISE LINE HLDG LSHS6.03%$19M790.8K
9RITMRITHM CAPITAL CORPhistory →COM NEW5.99%$19M1.70M
10DBRGDIGITALBRIDGE GROUP INChistory →CL A NEW5.01%$16M1.38M
11ARESARES MANAGEMENT CORPORATIONhistory →CL A COM STK4.17%$13M84.2K
12FOXFOX CORPhistory →CL B COM4.03%$13M227.2K
13ECHOECHOSTAR CORPhistory →CL A3.43%$11M145.0K
14GEGGREAT ELM GROUP INChistory →COM NEW3.22%$10M4.24M
15VRTVERTIV HOLDINGS COhistory →COM CL A2.74%$9M58.7K
16GECCGREAT ELM CAP CORPhistory →COM NEW2.48%$8M798.5K
17CTRICENTURI HOLDINGS INChistory →COM SHS2.10%$7M321.1K
18DUOTDUOS TECHNOLOGIES GROUP INChistory →COM1.77%$6M777.6K
19ETENERGY TRANSFER L Phistory →COM UT LTD PTN1.23%$4M231.8K
20SMRTSMARTRENT INChistory →COM CL A1.16%$4M2.65M
21MPLXMPLX LPCOM UNIT REP LTD0.73%$2M47.4K
22BROOKFIELD RENEWABLE PARTNERPARTNERSHIP UNIT0.61%$2M76.6K
23CARTMAPLEBEAR INCCOM0.34%$1M29.8K

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 ↗.