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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 $323,139,621 across 24 holdings for the quarter ended 2025-09-30, in a 13F-HR filed 2025-11-14. Its ten largest share positions make up 70.5% of the portfolio.

Filed (acceptance time not in the bulk data set), ingested 13F-HR 0001346543-25-000009

Period
2025-09-30
Reported value
$323M
Holdings
24
Top 10 weight
70.5%
New
8
Sold out
8

Largest buys vs the previous quarter

SecurityShares changeApprox. value
NCLHnew+790,760$19.5M
DBRGnew+1,383,723$16.2M
PINSadded+485,000$15.6M
FOXnew+227,226$13M
ECHOnew+145,000$11.1M

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
CORZexited-1,723,422-$29.4M
PPLIexited-568,409-$21.2M
CARTreduced-448,244-$16.5M
TRUexited-160,891-$14.2M
HUTreduced-286,947-$9.99M

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, Q3 2025

Share positions as resolved from 13F-HR 0001346543-25-000009, largest first. % of portfolio is the value over $323,139,621, 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; 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; 2025Q3: 1,167,372 shares 1,167,372$35.8M11.09%+130,362Timeline
HHHHOWARD HUGHES HOLDINGS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 228,564 shares; 2024Q4: 163,564 shares; 2025Q1: not reported; 2025Q2: 261,355 shares; 2025Q3: 302,450 shares 302,450$24.9M7.69%+41,095Timeline
APOAPOLLO GLOBAL MGMT INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 226,373 shares; 2024Q4: 217,091 shares; 2025Q1: 170,491 shares; 2025Q2: 172,991 shares; 2025Q3: 186,204 shares 186,204$24.8M7.68%+13,213Timeline
HUTHUT 8 CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 416,652 shares; 2024Q4: 455,000 shares; 2025Q1: 656,330 shares; 2025Q2: 971,852 shares; 2025Q3: 684,905 shares 684,905$23.8M7.38%-286,947Timeline
MSGEMADISON SQUARE GARDEN ENTMTQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 516,868 shares; 2024Q4: 411,028 shares; 2025Q1: 478,256 shares; 2025Q2: 396,543 shares; 2025Q3: 475,942 shares 475,942$21.5M6.66%+79,399Timeline
PINSPINTEREST INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 311,090 shares; 2024Q4: 571,090 shares; 2025Q1: 410,589 shares; 2025Q2: 176,096 shares; 2025Q3: 661,096 shares 661,096$21.3M6.58%+485,000Timeline
TKOTKO GROUP HOLDINGS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 88,000 shares; 2025Q1: 88,389 shares; 2025Q2: 88,389 shares; 2025Q3: 102,224 shares 102,224$20.6M6.39%+13,835Timeline
NCLHNORWEGIAN CRUISE LINE HLDGSQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 790,760 shares 790,760$19.5M6.03%newTimeline
RITMRITHM CAPITAL CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 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; 2025Q3: 1,698,003 shares 1,698,003$19.3M5.99%+427,507Timeline
DBRGDIGITALBRIDGE GROUP INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 1,383,723 shares 1,383,723$16.2M5.01%newTimeline
ARESARES MANAGEMENT CORPORATIONQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 132,440 shares; 2024Q4: 104,269 shares; 2025Q1: 88,083 shares; 2025Q2: 84,205 shares; 2025Q3: 84,205 shares 84,205$13.5M4.17%0Timeline
FOXFOX CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 227,226 shares 227,226$13M4.03%newTimeline
ECHOECHOSTAR CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 145,000 shares 145,000$11.1M3.43%newTimeline
GEGGREAT ELM GROUP INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 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; 2025Q3: 4,243,168 shares 4,243,168$10.4M3.22%0Timeline
VRTVERTIV HOLDINGS COQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 58,684 shares 58,684$8.85M2.74%newTimeline
GECCGREAT ELM CAP CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 798,471 shares; 2024Q4: 1,035,838 shares; 2025Q1: 798,471 shares; 2025Q2: 798,471 shares; 2025Q3: 798,471 shares 798,471$8M2.48%0Timeline
CTRICENTURI HOLDINGS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 321,129 shares 321,129$6.8M2.1%newTimeline
DUOTDUOS TECHNOLOGIES GROUP INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 777,626 shares 777,626$5.72M1.77%newTimeline
NWSNEWS CORP NEWQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 125,459 shares; 2024Q4: 125,459 shares; 2025Q1: 125,459 shares; 2025Q2: 125,459 shares; 2025Q3: 140,459 shares 140,459$4.85M1.5%+15,000Timeline
ETENERGY TRANSFER L PQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 279,738 shares; 2024Q4: 277,999 shares; 2025Q1: 277,999 shares; 2025Q2: 277,999 shares; 2025Q3: 231,821 shares 231,821$3.98M1.23%-46,178Timeline
SMRTSMARTRENT INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 2,651,516 shares 2,651,516$3.74M1.16%newTimeline
MPLXMPLX LPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 51,232 shares; 2024Q4: 51,232 shares; 2025Q1: 51,232 shares; 2025Q2: 51,232 shares; 2025Q3: 47,350 shares 47,350$2.37M0.73%-3,882Timeline
BEPBROOKFIELD RENEWABLE ENERGYQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 39,262 shares; 2025Q2: 64,621 shares; 2025Q3: 76,616 shares 76,616$1.98M0.61%+11,995Timeline
CARTMAPLEBEAR INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 362,622 shares; 2025Q2: 478,022 shares; 2025Q3: 29,778 shares 29,778$1.09M0.34%-448,244Timeline

Sold out in Q3 2025

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

SecurityShares beforeValue beforeType
CORZCORE SCIENTIFIC INC NEW1,723,422$29.4Mshares
PPLIPEOPLE INC568,409$21.2Mshares
TRUTRANSUNION160,891$14.2Mshares
FIPFTAI INFRASTRUCTURE INC885,675$5.46Mshares
MGMMGM RESORTS INTERNATIONAL143,107$4.92Mshares
TPBTURNING PT BRANDS INC60,895$4.61Mshares
CIFRCIPHER DIGITAL INC177,000$846Kshares
POTBELLY CORPPOTBELLY CORP48,147$590Kshares

How Q3 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 0001346543-25-000009 base2025-11-14acceptance time not in the bulk data set