Q2 2026 13F · SEC CIK 2055446

North Ground Capital

Institutional asset managerFiled 2026-08-13 for Q2 2026. Open the filing ↗ · All SEC filings ↗

Reported 13F value: $83.4M
Reported positions: 33
Holdings vs S&P 500, 3 yrs: —
Assets under management: $195.6M

North Ground Capital is an institutional asset manager that reported 33 positions worth $83.4M in its Q2 2026 13F, filed 2026-08-13. Its largest holdings were Fs Specialty Lending Fd (FSSL, 10.9%), Carlyle Secured Lending Inc (CGBD, 7.8%), Msc Income Fund Inc (MSIF, 7.5%).

North Ground Capital holdings all 33 positions.

Weights are shares of the filer's total reported 13F value, compared with Q1 2026. Share changes may reflect splits; weight changes also reflect price moves. A 13F shows long US-listed positions only, up to 135 days after the fact.

North Ground Capital 13F holdings
Stock	% of 13F value	Q1 2026	Shares	Share change	Reported value
FSSLFs Specialty Lending Fd	10.9%	3.8%	817,600	+227.0%	$9.1M
CGBDCarlyle Secured Lending Inc	7.8%	5.1%	616,000	+59.0%	$6.5M
MSIFMsc Income Fund Inc	7.5%	6.6%	537,600	+19.8%	$6.2M
BRSPBrightspire Capital Inc	7.1%	10.8%	1,092,000	-31.8%	$6.0M
CCAPCrescent Cap Bdc Inc	6.8%	5.0%	520,800	+53.7%	$5.7M
ACREAres Coml Real Estate Corp	6.7%	6.5%	1,232,000	+10.0%	$5.5M
MRPMillrose Pptys Inc	6.5%	4.4%	179,200	+37.8%	$5.4M
GLOClough Global Opportunities	5.3%	3.6%	728,000	+37.5%	$4.5M
RWAYRunway Growth Finance Corp	4.9%	8.0%	728,000	-24.3%	$4.1M
NRKNuveen Ny Amt Free	4.2%	4.4%	323,680	-8.7%	$3.5M
MXFMexico Fd Inc	3.6%	1.8%	136,348	+91.0%	$3.0M
OTFBlue Owl Technology Finance	3.4%	2.8%	277,467	+47.1%	$2.9M
BCSFBain Cap Specialty Fin Inc	3.4%	5.0%	224,000	-32.9%	$2.8M
SLRCSlr Investment Corp	2.5%	New	168,000	—	$2.1M
GLADGladstone Cap Corp Com New	2.5%	3.0%	105,280	-26.3%	$2.0M
TYGTortoise Energy Infrstrctr C	2.3%	New	44,800	—	$1.9M
BXMTBlackstone Mortgage Trust	2.2%	New	106,400	—	$1.8M
JFRNuveen Float Rate Inc Fd	2.0%	New	222,501	—	$1.7M
AOMRAngel Oak Mortgage REIT Inc	1.8%	1.4%	164,369	+20.5%	$1.5M
NFJVirtus Dividend Interest & Pr Com	1.6%	New	89,387	—	$1.4M
IQIInvesco Quality Mun Income T	1.5%	1.5%	120,018	-8.0%	$1.2M
NMZNuveen Mun High Income Oppor	1.1%	New	89,600	—	$947K
GLQClough Global Equity Fd	0.9%	0.3%	89,094	+150.6%	$768K
GLVClough Global Divid & Income	0.7%	0.3%	91,500	+93.2%	$608K
FSCOFs Credit Opportunities Corp	0.5%	3.2%	89,600	-82.9%	$447K
ECATBlackrock Esg Cap Allc Term	0.5%	1.6%	28,000	-72.0%	$440K
BRWSaba Capital Income & Oprnt Fd Shs New	0.4%	0.8%	56,000	-40.7%	$368K
JQCNuveen Cr Strategies Income	0.4%	New	74,901	—	$364K
DMADestra Multi-Alternative Fd	0.3%	0.5%	30,000	-45.5%	$224K
FMNFederated Hermes Prem Muni I	0.2%	0.2%	15,818	-7.1%	$182K
HFROHighland Opps & Income Fd	0.2%	0.2%	24,731	+12.0%	$176K
JOFJapan Smaller Capitalization	0.1%	New	10,000	—	$118K
ICMBInvestcorp Cr Mgmt Bdc Inc	0.0%	0.1%	28,000	+10.3%	$33K

What North Ground Capital bought and sold in Q2 2026, against Q1 2026.

Share counts compared with the Q1 2026 13F; a split also changes share counts.

How the holdings did against the S&P 500.

1 year: -23.1% /yr; S&P 500 +11.7%
3 years: —
5 years: —

A portfolio of the filer's 20 largest 13F positions, weighted by value, bought the trading day after each 13F was filed and held until the next one was: what copying this filer could have earned. 13Fs show long US-listed positions only, so this is an estimate of the stock picks, not the fund's reported returns.

Reported 13F value by quarter.

13F value by quarter
Quarter	13F value	Positions
Q2 2026	$83.4M	33
Q1 2026	$83.0M	40
Q4 2025	$201.4M	45
Q3 2025	$163.0M	51
Q2 2025	$78.4M	38
Q1 2025	$98.3M	42
Q4 2024	$92.9M	46

Questions about North Ground Capital's portfolio

What stocks does North Ground Capital own?

North Ground Capital's latest 13F, for Q2 2026 and filed Aug 13, 2026, lists 33 positions worth $83.4M. The largest are Fs Specialty Lending Fd (FSSL) at 10.9%, Carlyle Secured Lending Inc (CGBD) at 7.8%, Msc Income Fund Inc (MSIF) at 7.5%, Brightspire Capital Inc (BRSP) at 7.1% and Crescent Cap Bdc Inc (CCAP) at 6.8%.

What did North Ground Capital buy last quarter?

In Q2 2026, North Ground Capital added a new position in Slr Investment Corp (SLRC), a new position in Tortoise Energy Infrstrctr C (TYG), a new position in Blackstone Mortgage Trust (BXMT), a new position in Nuveen Float Rate Inc Fd (JFR), a new position in Virtus Dividend Interest & Pr Com (NFJ), Fs Specialty Lending Fd (FSSL) (+227.0% shares), Clough Global Equity Fd (GLQ) (+150.6% shares) and Clough Global Divid & Income (GLV) (+93.2% shares), compared with its Q1 2026 filing.

What did North Ground Capital sell last quarter?

In Q2 2026, North Ground Capital sold all of Golub Cap Bdc Inc Com (GBDC), sold all of Blackrock Tcp Capital Corp (TCPC), sold all of Nuveen Amt Free Mun Cr Inc F (NVG), sold all of Nuveen Pa Invt Quality Mun F (NQP), sold all of Nuveen New Jersey (NXJ), Fs Credit Opportunities Corp (FSCO) (-82.9% shares), Blackrock Esg Cap Allc Term (ECAT) (-72.0% shares) and Destra Multi-Alternative Fd (DMA) (-45.5% shares), compared with its Q1 2026 filing.

When is North Ground Capital's next 13F filing due?

13F filings are due 45 days after each quarter ends. North Ground Capital's filing for the quarter ending Sep 30, 2026 is due by Nov 14, 2026; this page updates the day after it is published.

How much money does North Ground Capital manage?

North Ground Capital reported $195.6M of regulatory assets under management on its latest SEC Form ADV. Its 13F, which covers only US-listed stocks and options, totals $83.4M.