North Ground Capital

CIK

2055446

Location

Cohasset, MA

Portfolio Value

Micro $83,011,855

Diversification

Diversified

Filing Date

Global Rank

#6,051 / 8,603 ▼ 2020 · as of Mar 2026

Top Industry

Asset Management 75.7%

3Y Alpha vs SPY

-19.7%

Period ended 3 months ago

Filed May 11, 2026 · 59d

6 quarters · since Dec 2024

Clone Performance

Feb 2025–Jul 2026 · vs SPY

Hypothetical growth of cloning every reported 13F position and rebalancing on each filing, indexed to the same start.

Cloned portfolio

-4.9%

SPY

+24.0%

Annualised alpha

-20.2%

Max drawdown

−16.9%

Estimate. 13F holdings are quarter-lagged and long-only, so the clone rebalances about 45 days after each period end — when the filing becomes public — and excludes options and short positions. Past performance does not predict future results.

Portfolio Concentration

40 positions · as of Mar 31, 2026 · Δ vs Dec 31, 2025

Top Position

10.8%

−4.7 pts

Top 5

39.1%

−2.3 pts

Top 10

62.9%

−0.1 pts

HHI

519

Diversified−51

Portfolio Trend

6 quarters · across all stocks

Sector Breakdown

As of Mar 31, 2026

Sector	% Portfolio	Value	Positions
Financial Services	72.6%	$60,240,736	33
Real Estate	23.3%	$19,361,405	5
Unclassified	4.1%	$3,409,714	2

Last Quarter's Activity

Export CSV

Mar 31, 2026 vs Dec 31, 2025

Added To

Positions the filer increased

5 positions

Ticker	Company	Δ Shares	Shares	Value
FSCO	FS Credit Opportunities Corp.	+497,666	525,000	$2,677,500
GBDC	GOLUB CAPITAL BDC, Inc.	+152,788	478,894	$6,062,798
FSSL	FS Specialty Lending Fund	+114,676	250,000	$3,127,500
TCPC	BlackRock TCP Capital Corp.	+62,054	850,000	$3,068,500
MRP	Millrose Properties, Inc.	+2,811	130,000	$3,640,000
No positions match the current search.

Trimmed

Positions the filer reduced

25 positions

Ticker	Company	Δ Shares	Shares	Value
BRSP	BrightSpire Capital, Inc.	−1,454,552	1,600,000	$8,960,000
CION	CION Investment Corp	−1,011,992	75,000	$513,000
OXLC	Oxford Lane Capital Corp.	−1,007,585	25,000	$244,500
FSK	FS KKR Capital Corp	−870,746	25,000	$254,500
SWZ	Total Return Securities Fund	−613,554	47,591	$282,214
RWAY	Runway Growth Finance Corp.	−607,724	961,326	$6,604,309
GLO	Clough Global Opportunities Fund	−583,115	529,521	$2,949,431
CGBD	Carlyle Secured Lending, Inc.	−524,702	387,518	$4,239,446
CCAP	Crescent Capital BDC, Inc.	−496,405	338,907	$4,117,720
ACRE	Ares Commercial Real Estate Corp	−431,806	1,120,000	$5,376,000
BCSF	Bain Capital Specialty Finance, Inc.	−292,532	333,982	$4,141,376
NRK	Nuveen New York Amt-Free Quality Municipal Income Fund	−246,798	354,414	$3,618,566
ACP	abrdn Income Credit Strategies Fund	−229,148	100,000	$510,000
GLV	Clough Global Dividend & Income Fund	−196,895	47,359	$280,365
NVG	Nuveen AMT-Free Municipal Credit Income Fund	−191,674	113,390	$1,398,098
HFRO	Highland Opportunities & Income Fund	−170,620	22,081	$126,082
ECAT	BlackRock ESG Capital Allocation Term Trust	−123,714	100,000	$1,358,000
AOMR	Angel Oak Mortgage REIT, Inc.	−113,204	136,424	$1,121,405
IQI	Invesco Quality Municipal Income Trust	−107,966	130,401	$1,254,457
OTF	Blue Owl Technology Finance Corp.	−82,971	188,674	$2,337,670
BRW	Saba Capital Income & Opportunities Fund	−68,682	94,432	$636,471
NQP	NUVEEN PENNSYLVANIA QUALITY MUNICIPAL INCOME FUND	−67,485	85,044	$1,014,574
MXF	Mexico Fund Inc	−54,943	71,369	$1,493,753
MSIF	Msc Income Fund, Inc.	−52,759	448,919	$5,467,833
NXJ	NUVEEN NEW JERSEY QUALITY MUNICIPAL INCOME FUND	−50,187	62,639	$770,459
No positions match the current search.

New Positions

Positions the filer opened this quarter

4 positions

Ticker	Company	Shares	Value
GLAD	Gladstone Capital Corp	142,896	$2,479,245
BXSL	Blackstone Secured Lending Fund	27,041	$640,601
ARCC	Ares Capital Corp	17,757	$319,981
NMFC	New Mountain Finance Corp	25,000	$194,000
No positions match the current search.

Sold Out

Positions the filer fully exited

9 positions

Ticker	Company	Shares	Value
XFLT	XAI Floating Rate & Alternative Income Trust	1,482,418	$35,578,032
MFIC	MidCap Financial Investment Corp	651,326	$7,451,169
NZF	Nuveen Municipal Credit Income Fund	223,536	$2,812,082
ECC	Eagle Point Credit Co	390,468	$2,249,095
ZTR	Virtus Total Return Fund Inc.	222,186	$1,399,771
AEF	abrdn Emerging Markets ex-China Fund, Inc.	152,370	$1,066,590
NEA	Nuveen AMT-Free Quality Municipal Income Fund	76,342	$887,857
VKI	Invesco Advantage Municipal Income Trust II	95,443	$870,440
WIA	Western Asset Inflation-Linked Income Fund	10,892	$90,076
No positions match the current search.

Portfolio Positions

Compact Export CSV View 13F filing

40 positions · $83,011,855 total · as of Mar 31, 2026

All sectors Financial Services Real Estate

Ticker	Company	Type	Shares	Δ Shares	Value (USD)	% Δ Value	% of Portfolio
BRSP	BrightSpire Capital, Inc. Real Estate	Reduced	1,600,000	-1,454,552	$8,960,000	−47.6%	10.79%
RWAY	Runway Growth Finance Corp. Financial Services	Reduced	961,326	-607,724	$6,604,309	−52.9%	7.96%
GBDC	GOLUB CAPITAL BDC, Inc. Financial Services	Added	478,894	+152,788	$6,062,798	+37.0%	7.30%
MSIF	Msc Income Fund, Inc. Financial Services	Reduced	448,919	-52,759	$5,467,833	−17.1%	6.59%
ACRE	Ares Commercial Real Estate Corp Real Estate	Reduced	1,120,000	-431,806	$5,376,000	−27.5%	6.48%
CGBD	Carlyle Secured Lending, Inc. Financial Services	Reduced	387,518	-524,702	$4,239,446	−62.8%	5.11%
BCSF	Bain Capital Specialty Finance, Inc. Financial Services	Reduced	333,982	-292,532	$4,141,376	−52.5%	4.99%
CCAP	Crescent Capital BDC, Inc. Financial Services	Reduced	338,907	-496,405	$4,117,720	−64.9%	4.96%
MRP	Millrose Properties, Inc. Real Estate	Added	130,000	+2,811	$3,640,000	−4.2%	4.38%
NRK	Nuveen New York Amt-Free Quality Municipal Income Fund Financial Services	Reduced	354,414	-246,798	$3,618,566	−40.3%	4.36%
FSSL	FS Specialty Lending Fund	Added	250,000	+114,676	$3,127,500	+63.4%	3.77%
TCPC	BlackRock TCP Capital Corp. Financial Services	Added	850,000	+62,054	$3,068,500	−28.8%	3.70%
GLO	Clough Global Opportunities Fund Financial Services	Reduced	529,521	-583,115	$2,949,431	−53.2%	3.55%
FSCO	FS Credit Opportunities Corp. Financial Services	Added	525,000	+497,666	$2,677,500	+1454.8%	3.23%
GLAD	Gladstone Capital Corp Financial Services	NEW	142,896	NEW	$2,479,245	NEW	2.99%
OTF	Blue Owl Technology Finance Corp. Financial Services	Reduced	188,674	-82,971	$2,337,670	−40.8%	2.82%
MXF	Mexico Fund Inc Financial Services	Reduced	71,369	-54,943	$1,493,753	−41.3%	1.80%
NVG	Nuveen AMT-Free Municipal Credit Income Fund Financial Services	Reduced	113,390	-191,674	$1,398,098	−63.8%	1.68%
ECAT	BlackRock ESG Capital Allocation Term Trust Financial Services	Reduced	100,000	-123,714	$1,358,000	−60.5%	1.64%
IQI	Invesco Quality Municipal Income Trust Financial Services	Reduced	130,401	-107,966	$1,254,457	−47.2%	1.51%
AOMR	Angel Oak Mortgage REIT, Inc. Real Estate	Reduced	136,424	-113,204	$1,121,405	−47.8%	1.35%
NQP	NUVEEN PENNSYLVANIA QUALITY MUNICIPAL INCOME FUND Financial Services	Reduced	85,044	-67,485	$1,014,574	−44.1%	1.22%
NXJ	NUVEEN NEW JERSEY QUALITY MUNICIPAL INCOME FUND Financial Services	Reduced	62,639	-50,187	$770,459	−46.0%	0.93%
BXSL	Blackstone Secured Lending Fund Financial Services	NEW	27,041	NEW	$640,601	NEW	0.77%
BRW	Saba Capital Income & Opportunities Fund Financial Services	Reduced	94,432	-68,682	$636,471	−44.3%	0.77%
VPV	Invesco Pennsylvania Value Municipal Income Trust Financial Services	Reduced	49,775	-43,706	$526,121	−46.2%	0.63%
CION	CION Investment Corp Financial Services	Reduced	75,000	-1,011,992	$513,000	−95.1%	0.62%
ACP	abrdn Income Credit Strategies Fund Financial Services	Reduced	100,000	-229,148	$510,000	−71.4%	0.61%
DMA	Destra Multi-Alternative Fund Financial Services	Reduced	55,059	-22,251	$446,528	−35.6%	0.54%
ARCC	Ares Capital Corp Financial Services	NEW	17,757	NEW	$319,981	NEW	0.39%
SWZ	Total Return Securities Fund	Reduced	47,591	-613,554	$282,214	−93.1%	0.34%
GLV	Clough Global Dividend & Income Fund Financial Services	Reduced	47,359	-196,895	$280,365	−80.8%	0.34%
GLQ	Clough Global Equity Fund Financial Services	Reduced	35,554	-36,465	$267,721	−51.5%	0.32%
ARI	Apollo Commercial Real Estate Finance, Inc. Real Estate	Reduced	25,000	-35,000	$264,000	−54.5%	0.32%
FSK	FS KKR Capital Corp Financial Services	Reduced	25,000	-870,746	$254,500	−98.1%	0.31%
OXLC	Oxford Lane Capital Corp. Financial Services	Reduced	25,000	-1,007,585	$244,500	−98.4%	0.29%
NMFC	New Mountain Finance Corp Financial Services	NEW	25,000	NEW	$194,000	NEW	0.23%
FMN	Federated Hermes Premier Municipal Income Fund Financial Services	Reduced	17,018	-21,411	$186,006	−56.4%	0.22%
HFRO	Highland Opportunities & Income Fund Financial Services	Reduced	22,081	-170,620	$126,082	−89.1%	0.15%
ICMB	Investcorp Credit Management BDC, Inc. Financial Services	Reduced	25,386	-28,913	$41,125	−71.9%	0.05%