Northern Right Capital Management, L.P.
In its 13F for Q1 2024 (holdings as of March 31, 2024, filed May 15, 2024), Northern Right Capital Management, L.P. reported 29 stock positions worth $276.8 million. Its top holding was News Class A (NWSA) at 10.2% of the portfolio, followed by Apollo Global Management (APO, 8.9%) and People (PPLI, 7.7%). Compared with Q4 2023, it opened 8 new positions, sold out of 6, added to 7 and reduced 6. The biggest buy was a new position in Transunion (TRU) and the biggest sale an exit from Blackstone Secured Lending F (BXSL).
- Most Recent 13F
- Q2 2026
- Location
- DARIEN, CT
- CIK
- 0001346543
- Portfolio Value
- $276.8M (Q1 2024)
- SEC Filing
- 0001777813-24-000004 ↗ filed May 15, 2024
Holdings Value
Holdings 29 stocks · $276.8M
| NWSA News Corp. Class A | 10.18% | 1,076,060 | $28.2M | Reduce -0.9% |
| APO Apollo Global Management Inc. | 8.92% | 219,670 | $24.7M | Reduce -30.4% |
| PPLI People Inc. filed as IAC INC | 7.72% | 400,773 | $21.4M | Reduce -2.8% |
| MSGE Madison Square Garden Entert | 7.23% | 510,318 | $20.0M | Add +1.0% |
| ARES Ares Management Corp. Class A | 7.20% | 149,884 | $19.9M | Reduce -14.3% |
| MSGS Madison Square Garden Sports | 6.09% | 91,331 | $16.9M | No change |
| RITM Rithm Capital Corp. | 4.47% | 1,108,915 | $12.4M | Add +144.3% |
| ZGN Ermenegildo Zegna NV | 3.97% | 750,684 | $11.0M | Add +18.8% |
| TRU Transunion | 3.64% | 126,430 | $10.1M | New |
| FTAI Ftai Aviation Ltd. | 3.35% | 137,892 | $9.3M | Reduce -40.0% |
| CART Maplebear Inc. | 3.30% | 245,000 | $9.1M | New |
| GECC Great Elm Capital Corp. | 3.19% | 798,471 | $8.8M | No change |
| GEG Great Elm Group Inc. | 2.91% | 4,193,168 | $8.1M | No change |
| BYD Boyd Gaming Corp. | 2.57% | 105,829 | $7.1M | Add +91.0% |
| JACK Jack in the Box Inc. | 2.54% | 102,672 | $7.0M | New |
| YUM Yum! Brands Inc. | 2.50% | 50,000 | $6.9M | New |
| INVE Inve Technologies Inc. filed as IDENTIV INC | 2.49% | 870,623 | $6.9M | No change |
| MFIC Midcap Financial Investment | 2.40% | 442,440 | $6.7M | No change |
| SPHR Sphere Entertainment Co. | 2.27% | 128,269 | $6.3M | New |
| MGM MGM Resorts International | 2.05% | 120,079 | $5.7M | Add +71.3% |
| UBER Uber Technologies Inc. | 2.00% | 71,806 | $5.5M | No change |
| MITT TPG Mortgage Investment Trus | 1.82% | 823,672 | $5.0M | Add +40.8% |
| ET Energy Transfer LP | 1.27% | 223,638 | $3.5M | No change |
| MDRX Veradigm Inc. | 1.25% | 450,000 | $3.5M | New |
| SRTA Strata Critical Medical Inc. filed as BLADE AIR MOBILITY INC | 1.24% | 1,200,868 | $3.4M | Add +62.9% |
| NWS News Corp. Class B | 1.23% | 125,459 | $3.4M | No change |
| WEX Wex Inc. | 1.04% | 12,129 | $2.9M | Reduce -75.2% |
| ASTS Ast Spacemobile Inc. | 0.97% | 921,748 | $2.7M | New |
| BZFD Buzzfeed Inc. | 0.19% | 1,110,309 | $519K | New |
Options reported separately and not counted above: CHTR puts ($966K).
Portfolio Sells Q4 2023 → Q1 2024
| BXSL Blackstone Secured Lending F | Sold out | 0.00% | −3.63 |
| PM Philip Morris International | Sold out | 0.00% | −3.59 |
| NDAQ Nasdaq Inc. | Sold out | 0.00% | −3.15 |
| APO Apollo Global Management Inc. | Reduce -30.4% | 8.92% | −2.90 |
| WEX Wex Inc. | Reduce -75.2% | 1.04% | −2.79 |
| AGNC AGNC Investment Corp. | Sold out | 0.00% | −2.27 |
| ARES Ares Management Corp. Class A | Reduce -14.3% | 7.20% | −1.16 |
| PPLI People Inc. | Reduce -2.8% | 7.72% | −0.96 |
| FTAI Ftai Aviation Ltd. | Reduce -40.0% | 3.35% | −0.94 |
| NWSA News Corp. Class A | Reduce -0.9% | 10.18% | −0.54 |
| SIGA Siga Technologies Inc. | Sold out | 0.00% | −0.08 |
| DUOT Duos Technologies Group Inc. | Sold out | 0.00% | −0.07 |
Portfolio Buys Q4 2023 → Q1 2024
| TRU Transunion | New | 3.64% | +3.64 |
| CART Maplebear Inc. | New | 3.30% | +3.30 |
| JACK Jack in the Box Inc. | New | 2.54% | +2.54 |
| RITM Rithm Capital Corp. | Add +144.3% | 4.47% | +2.52 |
| YUM Yum! Brands Inc. | New | 2.50% | +2.50 |
| SPHR Sphere Entertainment Co. | New | 2.27% | +2.27 |
| MDRX Veradigm Inc. | New | 1.25% | +1.25 |
| BYD Boyd Gaming Corp. | Add +91.0% | 2.57% | +1.18 |
| ZGN Ermenegildo Zegna NV | Add +18.8% | 3.97% | +1.03 |
| ASTS Ast Spacemobile Inc. | New | 0.97% | +0.97 |
| MGM MGM Resorts International | Add +71.3% | 2.05% | +0.79 |
| MSGE Madison Square Garden Entert | Add +1.0% | 7.23% | +0.77 |
| MITT TPG Mortgage Investment Trus | Add +40.8% | 1.82% | +0.33 |
| SRTA Strata Critical Medical Inc. | Add +62.9% | 1.24% | +0.19 |
| BZFD Buzzfeed Inc. | New | 0.19% | +0.19 |
Options Activity Q4 2023 → Q1 2024
| CHTR Charter Communications Inc. Class A | put | New | 114 | $966K |
| IONQ Ionq Inc. | put | Sold out | 58,800 | $729Kbefore exit |
Calls and puts are listed by the shares they cover; their value is not part of the stock holdings above.
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 27 | $336.9M | FTAI, NWSA, TKO, SRTA, WULF |
| Q1 2026 | 25 | $281.0M | NWSA, FTAI, HHH, TKO, ECHO |
| Q4 2025 | 27 | $380.9M | NWSA, ECHO, HUT, DBRG, HHH |
| Q3 2025 | 24 | $323.1M | NWSA, HHH, APO, HUT, MSGE |
| Q2 2025Amended | 24 | $292.1M | NWSA, CORZ, APO, CART, PPLI |
| Q1 2025 | 23 | $245.0M | NWSA, RITM, APO, MSGE, CART |
| Q4 2024 | 23 | $269.2M | APO, NWSA, RITM, FTAI, ARES |
| Q3 2024 | 27 | $268.7M | APO, NWSA, PPLI, MSGE, ARES |
| Q2 2024 | 28 | $270.6M | NWSA, APO, PPLI, MSGS, MSGE |
| Q1 2024 | 29 | $276.8M | NWSA, APO, PPLI, MSGE, ARES |