Northern Right Capital Management, L.P.
In its 13F for Q1 2026 (holdings as of March 31, 2026, filed May 15, 2026), Northern Right Capital Management, L.P. reported 25 stock positions worth $281.0 million. Its top holding was News Class A (NWSA) at 12.4% of the portfolio, followed by Ftai Aviation (FTAI, 9.0%) and Howard Hughes (HHH, 8.6%). Compared with Q4 2025, it opened 6 new positions, sold out of 8, added to 7 and reduced 9. The biggest buy was a new position in Nasdaq (NDAQ) and the biggest sale an exit from Digitalbridge (DBRG).
- Most Recent 13F
- Q2 2026
- Location
- DARIEN, CT
- CIK
- 0001346543
- Portfolio Value
- $281.0M (Q1 2026)
- SEC Filing
- 0001346543-26-000003 ↗ filed May 15, 2026
Holdings Value
Holdings 25 stocks · $281.0M
| NWSA News Corp. Class A | 12.41% | 1,398,704 | $34.9M | Add +16.9% |
| FTAI Ftai Aviation Ltd. | 9.01% | 103,293 | $25.3M | Reduce -9.4% |
| HHH Howard Hughes Holdings Inc. | 8.61% | 382,672 | $24.2M | Add +13.6% |
| TKO Tko Group Holdings Inc. | 8.46% | 117,952 | $23.8M | Reduce -8.1% |
| ECHO Echostar Corp. Class A | 6.96% | 166,987 | $19.5M | Reduce -35.3% |
| NDAQ Nasdaq Inc. | 6.88% | 227,795 | $19.3M | New |
| SRTA Strata Critical Medical Inc. | 6.08% | 4,090,169 | $17.1M | Add +42.6% |
| CTRI Centuri Holdings Inc. | 5.81% | 559,400 | $16.3M | Add +0.3% |
| NFLX Netflix Inc. | 4.86% | 141,979 | $13.7M | New |
| RITM Rithm Capital Corp. | 4.75% | 1,406,749 | $13.3M | Reduce -22.8% |
| ARES Ares Management Corp. Class A | 3.82% | 98,294 | $10.7M | Reduce -20.3% |
| HUT Hut 8 Corp. | 3.01% | 180,269 | $8.5M | Reduce -70.1% |
| GEG Great Elm Group Inc. | 2.82% | 4,243,168 | $7.9M | No change |
| SMRT Smartrent Inc. | 2.66% | 4,985,800 | $7.5M | Add +43.3% |
| DUOT Duos Technologies Group Inc. | 2.63% | 1,077,626 | $7.4M | Add +38.6% |
| APO Apollo Global Management Inc. | 2.43% | 61,339 | $6.8M | Reduce -53.6% |
| BEP Brookfield Renewable Partner | 1.85% | 159,439 | $5.2M | Reduce -1.8% |
| ET Energy Transfer LP | 1.46% | 212,512 | $4.1M | No change |
| NWS News Corp. Class B | 1.43% | 140,459 | $4.0M | No change |
| CDRE Cadre Holdings Inc. | 0.96% | 88,075 | $2.7M | New |
| EBAY eBay Inc. | 0.81% | 25,000 | $2.3M | New |
| NBIS Nebius Group NV | 0.74% | 20,000 | $2.1M | New |
| AIV Apartment Invt & Mgmt Co. Class A | 0.69% | 479,342 | $2.0M | Add +32.0% |
| GECC Great Elm Capital Corp. | 0.68% | 383,971 | $1.9M | Reduce -51.9% |
| MITT TPG Mortgage Investment Trus | 0.17% | 63,951 | $467K | New |
Portfolio Sells Q4 2025 → Q1 2026
| DBRG Digitalbridge Group Inc. | Sold out | 0.00% | −7.08 |
| FOX Fox Corp. Class B | Sold out | 0.00% | −6.39 |
| MSGE Madison Square Garden Entert | Sold out | 0.00% | −5.18 |
| HUT Hut 8 Corp. | Reduce -70.1% | 3.01% | −4.27 |
| APO Apollo Global Management Inc. | Reduce -53.6% | 2.43% | −2.59 |
| FLUT Flutter Entertainment PLC-Di | Sold out | 0.00% | −2.18 |
| ARES Ares Management Corp. Class A | Reduce -20.3% | 3.82% | −1.42 |
| GECC Great Elm Capital Corp. | Reduce -51.9% | 0.68% | −0.79 |
| MPLX MPLX LP | Sold out | 0.00% | −0.49 |
| RITM Rithm Capital Corp. | Reduce -22.8% | 4.75% | −0.47 |
| ECHO Echostar Corp. Class A | Reduce -35.3% | 6.96% | −0.41 |
| CART Maplebear Inc. | Sold out | 0.00% | −0.35 |
| LION Lionsgate Studios Corp. | Sold out | 0.00% | −0.31 |
| SSTI Soundthinking Inc. | Sold out | 0.00% | −0.19 |
| BEP Brookfield Renewable Partner | Reduce -1.8% | 1.85% | +0.70 |
| TKO Tko Group Holdings Inc. | Reduce -8.1% | 8.46% | +1.42 |
| FTAI Ftai Aviation Ltd. | Reduce -9.4% | 9.01% | +3.11 |
Portfolio Buys Q4 2025 → Q1 2026
| NDAQ Nasdaq Inc. | New | 6.88% | +6.88 |
| NFLX Netflix Inc. | New | 4.86% | +4.86 |
| NWSA News Corp. Class A | Add +16.9% | 12.41% | +4.21 |
| SRTA Strata Critical Medical Inc. | Add +42.6% | 6.08% | +2.46 |
| CTRI Centuri Holdings Inc. | Add +0.3% | 5.81% | +2.12 |
| HHH Howard Hughes Holdings Inc. | Add +13.6% | 8.61% | +1.56 |
| CDRE Cadre Holdings Inc. | New | 0.96% | +0.96 |
| SMRT Smartrent Inc. | Add +43.3% | 2.66% | +0.82 |
| EBAY eBay Inc. | New | 0.81% | +0.81 |
| NBIS Nebius Group NV | New | 0.74% | +0.74 |
| DUOT Duos Technologies Group Inc. | Add +38.6% | 2.63% | +0.33 |
| MITT TPG Mortgage Investment Trus | New | 0.17% | +0.17 |
| AIV Apartment Invt & Mgmt Co. Class A | Add +32.0% | 0.69% | +0.13 |
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 |