Institutional Manager · CIK 0002055446
North Ground Capital
Cohasset, MA · File #028-25244
Latest AUM
$201.4M
Positions
45
Top-10 Concentration
58.0%
Filings
5
Portfolio Value Over Time
2024-12
2025-03
2025-06
2025-09
2025-12
Biggest QoQ Changes
Ranked by conviction flow (share change × current price) so mark-to-market moves don't dominate. Price effect column shows how much of the $ change was just the stock moving.
| Action | Issuer | Ticker / CUSIP | Δ Shares | Flow ($) | Price Effect |
|---|---|---|---|---|---|
| ADD | OXFORD LANE CAP CORP | OXLCZ | +610,363 | +$8.9M | -$590,020 |
| NEW | XAI OCTAGN FLT RAT & ALT INM | 98400T106 | +1,482,418 | +$7.1M | $0 |
| ADD | RUNWAY GROWTH FINANCE CORP | RWAYL | +794,050 | +$7.1M | -$953,250 |
| EXITED | EAGLE POINT INCOME COMPANY I | 269817102 | -422,222 | -$6.5M | $0 |
| EXITED | JANUS DETROIT STR TR | 47103U845 | -126,667 | -$6.4M | $0 |
| ADD | BAIN CAP SPECIALTY FIN INC | 05684B107 | +451,514 | +$6.3M | -$59,500 |
| REDUCE | VIRTUS TOTAL RETURN FD INC | 92835W107 | -974,814 | -$6.1M | -$179,549 |
| ADD | CRESCENT CAP BDC INC | 225655109 | +417,312 | +$5.9M | -$87,780 |
| ADD | CARLYLE SECURED LENDING INC | CGBD | +436,086 | +$5.4M | -$4,761 |
| ADD | MIDCAP FINANCIAL INVSTMNT CO | 03761U502 | +401,326 | +$4.6M | -$137,500 |
Sector Allocation
Filing History
- 13F HOLDINGS REPORTQ/E Dec 202545 pos · $201.4M
- 13F HOLDINGS REPORTQ/E Sep 202551 pos · $163.0M
- 13F HOLDINGS REPORTQ/E Jun 202538 pos · $78.4M
- 13F HOLDINGS REPORTQ/E Mar 202542 pos · $98.3M
- 13F HOLDINGS REPORTQ/E Dec 202446 pos · $92.9M
Top 20 Holdings — Dec 2025
| # | Issuer | Ticker | Shares | Value | % of Portfolio |
|---|---|---|---|---|---|
| 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% |