Northern Right Capital Management, L.P.
In its 13F for Q4 2024 (holdings as of December 31, 2024, filed February 14, 2025), Northern Right Capital Management, L.P. reported 23 stock positions worth $269.2 million. Its top holding was Apollo Global Management (APO) at 13.3% of the portfolio, followed by News Class A (NWSA, 10.6%) and Rithm Capital (RITM, 8.9%). Compared with Q3 2024, it opened 5 new positions, sold out of 9, added to 7 and reduced 7. The biggest buy was a new position in Tko (TKO) and the biggest sale an exit from Match (MTCH).
- Most Recent 13F
- Q2 2026
- Location
- DARIEN, CT
- CIK
- 0001346543
- Portfolio Value
- $269.2M (Q4 2024)
- SEC Filing
- 0001346543-25-000002 ↗ filed Feb 14, 2025
Holdings Value
Holdings 23 stocks · $269.2M
| APO Apollo Global Management Inc. | 13.32% | 217,091 | $35.9M | Reduce -4.1% |
| NWSA News Corp. Class A | 10.61% | 1,037,010 | $28.6M | Add +1.2% |
| RITM Rithm Capital Corp. | 8.88% | 2,206,970 | $23.9M | Add +26.3% |
| FTAI Ftai Aviation Ltd. | 7.49% | 140,006 | $20.2M | Add +10.1% |
| ARES Ares Management Corp. Class A | 6.86% | 104,269 | $18.5M | Reduce -21.3% |
| PPLI People Inc. filed as IAC INC | 6.17% | 384,925 | $16.6M | Reduce -17.9% |
| PINS Pinterest Inc. Class A | 6.15% | 571,090 | $16.6M | Add +83.6% |
| MSGE Madison Square Garden Entert | 5.44% | 411,028 | $14.6M | Reduce -20.5% |
| HHH Howard Hughes Holdings Inc. | 4.67% | 163,564 | $12.6M | Reduce -28.4% |
| TKO Tko Group Holdings Inc. | 4.65% | 88,000 | $12.5M | New |
| HUT Hut 8 Corp. | 3.46% | 455,000 | $9.3M | Add +9.2% |
| GECC Great Elm Capital Corp. | 3.26% | 1,035,838 | $8.8M | Add +29.7% |
| TPB Turning Point Brands Inc. | 3.00% | 134,354 | $8.1M | Add +356.6% |
| GEG Great Elm Group Inc. | 2.85% | 4,243,168 | $7.7M | No change |
| CORZ Core Scientific Inc. | 2.76% | 528,074 | $7.4M | New |
| TRU Transunion | 2.03% | 59,034 | $5.5M | No change |
| ET Energy Transfer LP | 2.02% | 277,999 | $5.4M | Reduce -0.6% |
| NBIS Nebius Group NV | 1.60% | 155,906 | $4.3M | New |
| NWS News Corp. Class B | 1.42% | 125,459 | $3.8M | No change |
| EPD Enterprise Products Partners | 1.22% | 105,000 | $3.3M | New |
| MITT TPG Mortgage Investment Trus | 1.12% | 455,011 | $3.0M | Reduce -46.4% |
| MPLX MPLX LP | 0.91% | 51,232 | $2.5M | No change |
| MDXH Mdxhealth | 0.09% | 103,769 | $246K | New |
Options reported separately and not counted above: APLD puts ($1.3M).
Portfolio Sells Q3 2024 → Q4 2024
| MTCH Match Group Inc. | Sold out | 0.00% | −3.59 |
| PPLI People Inc. | Reduce -17.9% | 6.17% | −3.23 |
| MSGE Madison Square Garden Entert | Reduce -20.5% | 5.44% | −2.75 |
| BYD Boyd Gaming Corp. | Sold out | 0.00% | −2.37 |
| HHH Howard Hughes Holdings Inc. | Reduce -28.4% | 4.67% | −1.91 |
| UBER Uber Technologies Inc. | Sold out | 0.00% | −1.65 |
| CHTR Charter Communications Inc. Class A | Sold out | 0.00% | −1.43 |
| TLS Telos Corporation | Sold out | 0.00% | −1.39 |
| APLD Applied Digital Corp. | Sold out | 0.00% | −1.36 |
| MITT TPG Mortgage Investment Trus | Reduce -46.4% | 1.12% | −1.25 |
| GAP The Gap Inc. | Sold out | 0.00% | −0.92 |
| ARES Ares Management Corp. Class A | Reduce -21.3% | 6.86% | −0.82 |
| RDDT Reddit Inc. Class A | Sold out | 0.00% | −0.37 |
| TDUP Thredup Inc. Class A | Sold out | 0.00% | −0.06 |
| ET Energy Transfer LP | Reduce -0.6% | 2.02% | +0.35 |
| APO Apollo Global Management Inc. | Reduce -4.1% | 13.32% | +2.80 |
Portfolio Buys Q3 2024 → Q4 2024
| TKO Tko Group Holdings Inc. | New | 4.65% | +4.65 |
| CORZ Core Scientific Inc. | New | 2.76% | +2.76 |
| TPB Turning Point Brands Inc. | Add +356.6% | 3.00% | +2.53 |
| PINS Pinterest Inc. Class A | Add +83.6% | 6.15% | +2.40 |
| NBIS Nebius Group NV | New | 1.60% | +1.60 |
| HUT Hut 8 Corp. | Add +9.2% | 3.46% | +1.56 |
| RITM Rithm Capital Corp. | Add +26.3% | 8.88% | +1.49 |
| EPD Enterprise Products Partners | New | 1.22% | +1.22 |
| FTAI Ftai Aviation Ltd. | Add +10.1% | 7.49% | +1.20 |
| NWSA News Corp. Class A | Add +1.2% | 10.61% | +0.45 |
| GECC Great Elm Capital Corp. | Add +29.7% | 3.26% | +0.24 |
| MDXH Mdxhealth | New | 0.09% | +0.09 |
Options Activity Q3 2024 → Q4 2024
| APLD Applied Digital Corp. | put | New | 170,500 | $1.3M |
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 |