13F HOLDINGS REPORT
North Ground Capital
Quarter ended Q4 2025 · Filed February 12, 2026 · Accession 0001420506-26-000329
Total Value
$201.4M
Positions
45
Other Managers
0
Confidential Omitted
No
Holdings (45)
| # | Issuer | Ticker / CUSIP | Shares | Value | % of Filing |
|---|---|---|---|---|---|
| 1 | BRIGHTSPIRE CAPITAL INC | BRSP | 3,054,552 | $17.1M | 8.49% |
| 2 | OXFORD LANE CAP CORP | OXLCZ | 1,032,585 | $15.1M | 7.51% |
| 3 | RUNWAY GROWTH FINANCE CORP | RWAYL | 1,569,050 | $14.0M | 6.96% |
| 4 | FS KKR CAP CORP | FSK | 895,746 | $13.3M | 6.59% |
| 5 | CRESCENT CAP BDC INC | 225655109 | 835,312 | $11.7M | 5.83% |
| 6 | CARLYLE SECURED LENDING INC | CGBD | 912,220 | $11.4M | 5.66% |
| 7 | CION INVT CORP | 17259U204 | 1,086,992 | $10.5M | 5.22% |
| 8 | BAIN CAP SPECIALTY FIN INC | 05684B107 | 626,514 | $8.7M | 4.33% |
| 9 | MIDCAP FINANCIAL INVSTMNT CO | 03761U502 | 651,326 | $7.5M | 3.70% |
| 10 | ARES COML REAL ESTATE CORP | 04013V108 | 1,551,806 | $7.4M | 3.68% |
| 11 | XAI OCTAGN FLT RAT & ALT INM | 98400T106 | 1,482,418 | $7.1M | 3.53% |
| 12 | MSC INCOME FUND INC | MSIF | 501,678 | $6.6M | 3.27% |
| 13 | CLOUGH GLOBAL OPPORTUNITIES | GLO | 1,112,636 | $6.3M | 3.13% |
| 14 | NUVEEN NEW YORK AMT QLT MUNI | NU | 601,212 | $6.1M | 3.01% |
| 15 | GOLUB CAP BDC INC | 38173M102 | 326,106 | $4.4M | 2.20% |
| 16 | BLACKROCK TCP CAPITAL CORP | TCPC | 787,946 | $4.3M | 2.14% |
| 17 | TOTAL RETURN SECURITIES FUND | SWZ | 661,145 | $4.1M | 2.04% |
| 18 | BLUE OWL TECHNOLOGY FIN CORP | OTF | 271,645 | $3.9M | 1.96% |
| 19 | NUVEEN AMT FREE MUN CR INC F | NU | 305,064 | $3.9M | 1.92% |
| 20 | MILLROSE PPTYS INC | 601137102 | 127,189 | $3.8M | 1.89% |
| 21 | BLACKROCK ESG CAP ALLC TERM | BLK | 223,714 | $3.4M | 1.71% |
| 22 | NUVEEN MUNICIPAL CREDIT INC | NU | 223,536 | $2.8M | 1.40% |
| 23 | MEXICO FD INC | 592835102 | 126,312 | $2.5M | 1.26% |
| 24 | INVESCO QUALITY MUN INCOME T | IVZ | 238,367 | $2.4M | 1.18% |
| 25 | EAGLE POINT CREDIT COMPANY I | ECCW | 390,468 | $2.2M | 1.12% |
| 26 | ANGEL OAK MORTGAGE REIT INC | AOMN | 249,628 | $2.1M | 1.07% |
| 27 | FS SPECIALTY LENDING FD | 644323107 | 135,324 | $1.9M | 0.95% |
| 28 | NUVEEN PENNSYLVANIA QLT MUN | NU | 152,529 | $1.8M | 0.90% |
| 29 | ABRDN INCOME CREDIT STRATEGI | ACP-PA | 329,148 | $1.8M | 0.88% |
| 30 | CLOUGH GLOBAL DIVID & INCOME | 18913Y103 | 244,254 | $1.5M | 0.72% |
| 31 | NUVEEN NEW JERSEY QULT MUN F | NU | 112,826 | $1.4M | 0.71% |
| 32 | VIRTUS TOTAL RETURN FD INC | 92835W107 | 222,186 | $1.4M | 0.70% |
| 33 | HIGHLAND OPPS & INCOME FD | HFRO-PB | 192,701 | $1.2M | 0.57% |
| 34 | SABA CAPITAL INCOME & OPRNT | 78518H202 | 163,114 | $1.1M | 0.57% |
| 35 | ABRDN EMERGING MARKETS EX CH | AEF | 152,370 | $1.1M | 0.53% |
| 36 | INVESCO PA VALUE MUN INC TR | IVZ | 93,481 | $977,811 | 0.49% |
| 37 | NUVEEN AMT FREE QLTY MUN INC | NU | 76,342 | $887,857 | 0.44% |
| 38 | INVESCO ADVANTAGE MUN INCOME | IVZ | 95,443 | $870,440 | 0.43% |
| 39 | DESTRA MULTI-ALTERNATIVE FD | 25065A502 | 77,310 | $693,471 | 0.34% |
| 40 | APOLLO COML REAL EST FIN INC | 03762U105 | 60,000 | $580,800 | 0.29% |
| 41 | CLOUGH GLOBAL EQUITY FD | 18914C100 | 72,019 | $551,666 | 0.27% |
| 42 | FEDERATED HERMES PREM MUNI I | FHI | 38,429 | $426,946 | 0.21% |
| 43 | FS CREDIT OPPORTUNITIES CORP | FSCO | 27,334 | $172,204 | 0.09% |
| 44 | INVESTCORP CR MGMT BDC INC | 46090R104 | 54,299 | $146,607 | 0.07% |
| 45 | WESTERN ASST INFLTN LKD INM | 95766Q106 | 10,892 | $90,077 | 0.04% |