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Northern Right Capital Management, L.P.

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13F filer, CIK 1346543, DARIEN, CT

Northern Right Capital Management, L.P. reported $292,050,098 across 24 holdings for the quarter ended 2025-06-30, in a 13F-HR/A filed 2025-08-15. Its ten largest share positions make up 71.86% of the portfolio.

Filed (acceptance time not in the bulk data set), ingested 13F-HR/A 0001346543-25-000007

Period
2025-06-30
Reported value
$292M
Holdings
24
Top 10 weight
71.86%
New
5
Sold out
4

Largest buys vs the previous quarter

SecurityShares changeApprox. value
CORZadded+1,573,422$26.9M
HHHnew+261,355$17.6M
PPLIadded+267,731$10M
HUTadded+315,522$5.87M
FIPnew+885,675$5.46M

Ranked by the share change valued at this quarter's implied price (value over shares in the 13F). A position sold out is valued at the previous quarter's price, its last report.

Largest sells vs the previous quarter

SecurityShares changeApprox. value
TPBreduced-159,283-$12.1M
FTAIexited-90,000-$9.99M
RITMreduced-850,000-$9.6M
PINSreduced-234,493-$8.41M
HOODexited-127,247-$5.3M

Ranked by the share change valued at this quarter's implied price (value over shares in the 13F). A position sold out is valued at the previous quarter's price, its last report.

Holdings, Q2 2025

Share positions as resolved from 13F-HR/A 0001346543-25-000007, largest first. % of portfolio is the value over $292,050,098, the sum of the share positions whose value is usable for ratios (method).

SecurityHistorySharesValue% of portfolioChangeLatest eventTimeline
NWSANEWS CORP NEWQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 1,024,510 shares; 2024Q4: 1,037,010 shares; 2025Q1: 1,037,010 shares; 2025Q2: 1,037,010 shares 1,037,010$30.8M10.55%0Timeline
CORZCORE SCIENTIFIC INC NEWQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 528,074 shares; 2025Q1: 150,000 shares; 2025Q2: 1,723,422 shares 1,723,422$29.4M10.07%+1,573,422Timeline
APOAPOLLO GLOBAL MGMT INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 226,373 shares; 2024Q4: 217,091 shares; 2025Q1: 170,491 shares; 2025Q2: 172,991 shares 172,991$24.5M8.4%+2,500Timeline
CARTMAPLEBEAR INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 362,622 shares; 2025Q2: 478,022 shares 478,022$21.6M7.4%+115,400Timeline
PPLIPEOPLE INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 468,930 shares; 2024Q4: 384,925 shares; 2025Q1: 300,678 shares; 2025Q2: 568,409 shares 568,409$21.2M7.27%+267,731Timeline
HUTHUT 8 CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 416,652 shares; 2024Q4: 455,000 shares; 2025Q1: 656,330 shares; 2025Q2: 971,852 shares 971,852$18.1M6.19%+315,522Timeline
HHHHOWARD HUGHES HOLDINGS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 228,564 shares; 2024Q4: 163,564 shares; 2025Q1: not reported; 2025Q2: 261,355 shares 261,355$17.6M6.04%newTimeline
TKOTKO GROUP HOLDINGS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 88,000 shares; 2025Q1: 88,389 shares; 2025Q2: 88,389 shares 88,389$16.1M5.51%0Timeline
MSGEMADISON SQUARE GARDEN ENTMTQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 516,868 shares; 2024Q4: 411,028 shares; 2025Q1: 478,256 shares; 2025Q2: 396,543 shares 396,543$15.8M5.43%-81,713Timeline
ARESARES MANAGEMENT CORPORATIONQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 132,440 shares; 2024Q4: 104,269 shares; 2025Q1: 88,083 shares; 2025Q2: 84,205 shares 84,205$14.6M4.99%-3,878Timeline
RITMRITHM CAPITAL CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 1,748,026 shares; 2024Q4: 2,206,970 shares; 2025Q1: 2,120,496 shares; 2025Q2: 1,270,496 shares 1,270,496$14.3M4.91%-850,000Timeline
TRUTRANSUNIONQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 59,034 shares; 2024Q4: 59,034 shares; 2025Q1: 151,013 shares; 2025Q2: 160,891 shares 160,891$14.2M4.85%+9,878Timeline
GEGGREAT ELM GROUP INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 4,243,168 shares; 2024Q4: 4,243,168 shares; 2025Q1: 4,243,168 shares; 2025Q2: 4,243,168 shares 4,243,168$8.78M3.01%0Timeline
GECCGREAT ELM CAP CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 798,471 shares; 2024Q4: 1,035,838 shares; 2025Q1: 798,471 shares; 2025Q2: 798,471 shares 798,471$8.52M2.92%0Timeline
PINSPINTEREST INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 311,090 shares; 2024Q4: 571,090 shares; 2025Q1: 410,589 shares; 2025Q2: 176,096 shares 176,096$6.31M2.16%-234,493Timeline
FIPFTAI INFRASTRUCTURE INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 885,675 shares 885,675$5.46M1.87%newTimeline
ETENERGY TRANSFER L PQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 279,738 shares; 2024Q4: 277,999 shares; 2025Q1: 277,999 shares; 2025Q2: 277,999 shares 277,999$5.04M1.73%0Timeline
MGMMGM RESORTS INTERNATIONALQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 143,107 shares 143,107$4.92M1.69%newTimeline
TPBTURNING PT BRANDS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 29,423 shares; 2024Q4: 134,354 shares; 2025Q1: 220,178 shares; 2025Q2: 60,895 shares 60,895$4.61M1.58%-159,283Timeline
NWSNEWS CORP NEWQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 125,459 shares; 2024Q4: 125,459 shares; 2025Q1: 125,459 shares; 2025Q2: 125,459 shares 125,459$4.3M1.47%0Timeline
MPLXMPLX LPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 51,232 shares; 2024Q4: 51,232 shares; 2025Q1: 51,232 shares; 2025Q2: 51,232 shares 51,232$2.64M0.9%0Timeline
BEPBROOKFIELD RENEWABLE ENERGYQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 39,262 shares; 2025Q2: 64,621 shares 64,621$1.65M0.56%+25,359Timeline
CIFRCIPHER DIGITAL INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 177,000 shares 177,000$846K0.29%newTimeline
POTBELLY CORPPOTBELLY CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 48,147 shares 48,147$590K0.2%new

Sold out in Q2 2025

Positions in the previous quarter's report that this quarter's report no longer lists.

SecurityShares beforeValue beforeType
FTAIFTAI AVIATION LTD90,000$9.99Mshares
HOODROBINHOOD MKTS INC127,247$5.3Mshares
VIMEO INCVIMEO INC775,000$4.08Mshares
EPDENTERPRISE PRODS PARTNERS L105,000$3.58Mshares

How Q2 2025 was built

Available 13F filings of this filer for the quarter and their roles: the base report is the latest original or restatement, NEW HOLDINGS amendments filed after it are added (method).

FilingRoleAmendmentFiledAcceptedIngested
13F-HR 0001346543-25-000006 superseded2025-08-14acceptance time not in the bulk data set
13F-HR/A 0001346543-25-000007 baserestatement2025-08-15acceptance time not in the bulk data set