North Ground Capital — 13F Holdings & Portfolio
CIK 2055446 · latest 13F-HR filed 2026-05-11
North Ground Capital manages $83.0M in 13F-reported U.S. long-equity assets across 40 reported positions as of its 2026-03-31 13F-HR filing. Its largest disclosed positions are BRSP (10.79%), RWAY (7.96%), GBDC (7.30%). Quarter over quarter (versus its 2025-12-31 filing) the fund opened 4 new positions, exited 9, added to 3, and trimmed 32.
AUM is the long-equity portion reported on Form 13F-HR. Excludes short positions, cash, foreign holdings, and non-13F assets. For informational purposes only — not investment advice.
$83.0M
Long-equity book
40
Distinct positions
2026-03-31
Filed 2026-05-11
+4 / −9 / ↑3 / ↓32
vs 2025-12-31
| Name | Title / Status | Ownership | Type |
|---|
Top Adds (vs prior quarter)
- FS CREDIT OPPORTUNITIES CORP$2.5M +1454.8%
- GOLUB CAP BDC INC$1.6M +37.0%
- FS SPECIALTY LENDING FD$1.2M +63.4%
Top Trims
- OXFORD LANE CAP CORP-$14.9M -98.4%
- FS KKR CAP CORP-$13.0M -98.1%
- CION INVT CORP-$10.0M -95.1%
- BRIGHTSPIRE CAPITAL INC-$8.1M -47.6%
- CRESCENT CAP BDC INC-$7.6M -64.9%
New Positions
- GLADSTONE CAP CORP$2.5M
- BLACKSTONE SECD LENDING FD$640.6K
- ARES CAPITAL CORP$320.0K
- NEW MTN FIN CORP$194.0K
Exited Positions
- MIDCAP FINANCIAL INVSTMNT CO$7.5M
- XAI OCTAGN FLT RAT & ALT INM$7.1M
- NUVEEN MUNICIPAL CREDIT INC$2.8M
- EAGLE POINT CREDIT COMPANY I$2.2M
- VIRTUS TOTAL RETURN FD INC$1.4M
Rows tagged Call or Put are options positions, not stock. Per SEC Form 13F-HR, Value shows the notional value of the underlying (shares covered × underlying price), not the option premium. Shares is the number of underlying shares covered (divide by 100 for contract count).
| # | Issuer | Symbol | CUSIP | Value | Weight | Shares | Type |
|---|---|---|---|---|---|---|---|
| 1 | BRIGHTSPIRE CAPITAL INC | BRSP | 10949T109 | $9.0M | 10.79% | 1,600,000 | SH |
| 2 | RUNWAY GROWTH FINANCE CORP | RWAY | 78163D100 | $6.6M | 7.96% | 961,326 | SH |
| 3 | GOLUB CAP BDC INC | GBDC | 38173M102 | $6.1M | 7.30% | 478,894 | SH |
| 4 | MSC INCOME FUND INC | MSIF | 55374X208 | $5.5M | 6.59% | 448,919 | SH |
| 5 | ARES COML REAL ESTATE CORP | ACRE | 04013V108 | $5.4M | 6.48% | 1,120,000 | SH |
| 6 | CARLYLE SECURED LENDING INC | CGBD | 872280102 | $4.2M | 5.11% | 387,518 | SH |
| 7 | BAIN CAP SPECIALTY FIN INC | BCSF | 05684B107 | $4.1M | 4.99% | 333,982 | SH |
| 8 | CRESCENT CAP BDC INC | CCAP | 225655109 | $4.1M | 4.96% | 338,907 | SH |
| 9 | MILLROSE PPTYS INC | MRP | 601137102 | $3.6M | 4.38% | 130,000 | SH |
| 10 | NUVEEN NY AMT FREE | NRK | 670656107 | $3.6M | 4.36% | 354,414 | SH |
| 11 | FS SPECIALTY LENDING FD | FSSL | 644323107 | $3.1M | 3.77% | 250,000 | SH |
| 12 | BLACKROCK TCP CAPITAL CORP | TCPC | 09259E108 | $3.1M | 3.70% | 850,000 | SH |
| 13 | CLOUGH GLOBAL OPPORTUNITIES | GLO | 18914E106 | $2.9M | 3.55% | 529,521 | SH |
| 14 | FS CREDIT OPPORTUNITIES CORP | FSCO | 30290Y101 | $2.7M | 3.23% | 525,000 | SH |
| 15 | GLADSTONE CAP CORP | GLAD | 376535878 | $2.5M | 2.99% | 142,896 | SH |
| 16 | BLUE OWL TECHNOLOGY FIN CORP | OTF | 095924106 | $2.3M | 2.82% | 188,674 | SH |
| 17 | MEXICO FD INC | MXF | 592835102 | $1.5M | 1.80% | 71,369 | SH |
| 18 | NUVEEN AMT FREE MUN CR INC F | NVG | 67071L106 | $1.4M | 1.68% | 113,390 | SH |
| 19 | BLACKROCK ESG CAP ALLC TERM | ECAT | 09262F100 | $1.4M | 1.64% | 100,000 | SH |
| 20 | INVESCO QUALITY MUN INCOME T | IQI | 46133G107 | $1.3M | 1.51% | 130,401 | SH |
| 21 | ANGEL OAK MORTGAGE REIT INC | AOMR | 03464Y108 | $1.1M | 1.35% | 136,424 | SH |
| 22 | NUVEEN PA INVT QUALITY MUN F | NQP | 670972108 | $1.0M | 1.22% | 85,044 | SH |
| 23 | NUVEEN NEW JERSEY | NXJ | 67069Y102 | $770.5K | 0.93% | 62,639 | SH |
| 24 | BLACKSTONE SECD LENDING FD | BXSL | 09261X102 | $640.6K | 0.77% | 27,041 | SH |
| 25 | SABA CAPITAL INCOME & OPRNT | BRW | 78518H202 | $636.5K | 0.77% | 94,432 | SH |
| 26 | INVESCO PA VALUE MUN INC TR | VPV | 46132K109 | $526.1K | 0.63% | 49,775 | SH |
| 27 | CION INVT CORP | CION | 17259U204 | $513.0K | 0.62% | 75,000 | SH |
| 28 | ABRDN INCOME CREDIT STRATEGI | ACP | 003057106 | $510.0K | 0.61% | 100,000 | SH |
| 29 | DESTRA MULTI-ALTERNATIVE FD | DMA | 25065A502 | $446.5K | 0.54% | 55,059 | SH |
| 30 | ARES CAPITAL CORP | ARCC | 04010L103 | $320.0K | 0.39% | 17,757 | SH |
| 31 | TOTAL RETURN SECURITIES FUND | SWZ | 870875101 | $282.2K | 0.34% | 47,591 | SH |
| 32 | CLOUGH GLOBAL DIVID & INCOME | GLV | 18913Y103 | $280.4K | 0.34% | 47,359 | SH |
| 33 | CLOUGH GLOBAL EQUITY FD | GLQ | 18914C100 | $267.7K | 0.32% | 35,554 | SH |
| 34 | APOLLO COML REAL ESTATE FIN | ARI | 03762U105 | $264.0K | 0.32% | 25,000 | SH |
| 35 | FS KKR CAP CORP | FSK | 302635206 | $254.5K | 0.31% | 25,000 | SH |
| 36 | OXFORD LANE CAP CORP | OXLC | 691543847 | $244.5K | 0.29% | 25,000 | SH |
| 37 | NEW MTN FIN CORP | NMFC | 647551100 | $194.0K | 0.23% | 25,000 | SH |
| 38 | FEDERATED HERMES PREM MUNI I | FMN | 31423P108 | $186.0K | 0.22% | 17,018 | SH |
| 39 | HIGHLAND OPPS & INCOME FD | HFRO | 43010E404 | $126.1K | 0.15% | 22,081 | SH |
| 40 | INVESTCORP CR MGMT BDC INC | ICMB | 46090R104 | $41.1K | 0.05% | 25,386 | SH |
| Period | Filed | AUM | Holdings | Accession |
|---|---|---|---|---|
| 2026-03-31 | 2026-05-11 | $83.0M | 40 | 0001420506-26-000890 |
| 2025-12-31 | 2026-02-12 | $201.4M | 45 | 0001420506-26-000329 |
| 2025-09-30 | 2025-10-29 | $163.0M | 51 | 0001420506-25-002922 |