Northern Right Capital Management, L.P.

DARIEN, CT · CIK 1346543 · 13F filing filed 2026-08-14

SEC-registered investment adviser since 2012 · limited partnership

Assets managed$552.8m
Staff6 · 3 in investment roles
Main clients (by assets)Private funds 82%, Companies 18%
Private funds2 (2 hedge) · $453.4m gross assets
Websitenorthernrightcap.com
Form ADV · 2026-03-31SEC adviser record

Legal entityNORTHERN RIGHT CAPITAL MANAGEMENT, L.P. (US)

$336.9m reported value +19.9% vs Q1 2026

27positions

67.9%in top 10

9 new 6 added 6 reduced 7 sold out vs Q1 2026

Holdings, Q2 2026

The small lines show how much was held over the last 4 quarters (adjusted for stock splits).

#	Security	Ticker	Shares	Value	% of portfolio	Change	Shares change
1	FTAI AVIATION LTD SHS FTAI	FTAI	133,190	$36.0m10.69%	10.69%	Added +29.9k	+29,897 28.9%
2	NEWS CORP NEW CL A NWSA	NWSA	1,340,878	$33.3m9.88%	9.88%	Reduced -57.8k	-57,826 -4.1%
3	TKO GROUP HOLDINGS INC CL A TKO	TKO	164,754	$33.2m9.84%	9.84%	Added +46.8k	+46,802 39.7%
4	BLADE AIR MOBILITY INC CL A COM SRTA	SRTA	4,890,584	$25.8m7.65%	7.65%	Added +800.4k	+800,415 19.6%
5	TERAWULF INC COM WULF	WULF	773,594	$19.1m5.67%	5.67%	New
6	HEWLETT PACKARD ENTERPRISE C COM HPE	HPE	399,868	$18.0m5.35%	5.35%	New
7	CENTURI HOLDINGS INC COM SHS CTRI	CTRI	531,148	$16.1m4.77%	4.77%	Reduced -28.3k	-28,252 -5.0%
8	CORE SCIENTIFIC INC NEW COM CORZ	CORZ	622,587	$15.9m4.73%	4.73%	New
9	HUT 8 CORP COM HUT	HUT	137,356	$15.9m4.71%	4.71%	Reduced -42.9k	-42,913 -23.8%
10	ECHOSTAR CORP CL A ECHO	ECHO	153,377	$15.6m4.62%	4.62%	Reduced -13.6k	-13,610 -8.2%
11	DUOS TECHNOLOGIES GROUP INC COM DUOT	DUOT	1,219,122	$14.6m4.34%	4.34%	Added +141.5k	+141,496 13.1%
12	ZOOM COMMUNICATIONS INC CL A ZM	ZM	157,049	$13.6m4.02%	4.02%	New
13	EBAY INC. COM EBAY	EBAY	93,000	$10.4m3.08%	3.08%	Added +68.0k	+68,000 272.0%
14	ARES MANAGEMENT CORPORATION CL A COM STK ARES	ARES	84,903	$9.5m2.80%	2.80%	Reduced -13.4k	-13,391 -13.6%
15	COMSTOCK INC COM SHS LODE	LODE	2,246,637	$9.3m2.77%	2.77%	New
16	GREAT ELM GROUP INC COM NEW GEG	GEG	4,243,168	$9.3m2.75%	2.75%	Unchanged
17	APOLLO GLOBAL MGMT INC COM APO	APO	61,339	$7.3m2.15%	2.15%	Unchanged
18	YUM BRANDS INC COM YUM	YUM	40,000	$6.4m1.90%	1.90%	New
19	BROOKFIELD RENEWABLE PARTNER PARTNERSHIP UNIT BEP	BEP	179,871	$6.2m1.85%	1.85%	Added +20.4k	+20,432 12.8%
20	NEBIUS GROUP N.V. SHS CLASS A NBIS	NBIS	15,290	$4.2m1.25%	1.25%	Reduced -4.7k	-4,710 -23.6%
21	ENERGY TRANSFER L P COM UT LTD PTN ET	ET	212,512	$4.1m1.21%	1.21%	Unchanged
22	NEWS CORP NEW CL B NWS	NWS	140,459	$3.9m1.17%	1.17%	Unchanged
23	HYPERLIQUID STRATEGIES INC COM PURR	PURR	350,000	$2.8m0.82%	0.82%	New
24	SPHERE ENTERTAINMENT CO CL A SPHR	SPHR	15,000	$2.6m0.77%	0.77%	New
25	GREAT ELM CAP CORP COM NEW GECC	GECC	383,971	$2.1m0.62%	0.62%	Unchanged
26	APARTMENT INVT & MGMT CO CL A AIV	AIV	479,342	$1.4m0.42%	0.42%	Unchanged
27	ADEIA INC COM ADEA	ADEA	15,200	$500.5k0.15%	0.15%	New

Sold out since Q1 2026

Security	Ticker	Shares held before	Value then
HOWARD HUGHES HOLDINGS INC HHH	HHH	382,672	$24.2m382.7k shares
NASDAQ INC NDAQ	NDAQ	227,795	$19.3m227.8k shares
NETFLIX INC NFLX	NFLX	141,979	$13.7m142.0k shares
RITHM CAPITAL CORP RITM	RITM	1,406,749	$13.3m1.4m shares
SMARTRENT INC SMRT	SMRT	4,985,800	$7.5m5.0m shares
CADRE HLDGS INC CDRE	CDRE	88,075	$2.7m88.1k shares
AG MTG INVT TR INC MITT	MITT	63,951	$467.5k64.0k shares

Stakes above 5%

Companies where this manager has reported owning more than 5% of a class of shares, on Schedule 13D (may seek influence) or 13G (passive): its latest filing for each, from 19 Dec 2024 on.

Company	Ticker	Stake	Change	Schedule	Last filed
GREAT ELM GROUP INC GEG · 13D · filed 2026-07-14	GEG	19.1%≈ $13.5m	+0.1 pts	13D	2026-07-14
BLADE AIR MOBILITY INC SRTA · 13G · filed 2026-06-17	SRTA	5.1%≈ $23.2m	new	13G	2026-06-17