North Ground Capital

Cohasset, MA · CIK 2055446 · 13F filing filed 2026-08-13

SEC-registered investment adviser since 2024 · limited liability company

Assets managed$195.6m
Staff3 · 2 in investment roles
Main clients (by assets)Other advisers 55%, Private funds 45%
Private funds1 (1 hedge) · $88.7m gross assets
Websitenorthgroundcapital.com
Form ADV · 2026-04-30SEC adviser record

Kindhedge funds
Others nearbyCohasset, MA

As an employer

Private fundshedge 1

$83.4m reported value +0.4% vs Q1 2026

33positions

67.7%in top 10

8 new 14 added 11 reduced 15 sold out vs Q1 2026

Holdings, Q2 2026

The small lines show how much was held over the last 4 quarters (adjusted for stock splits).

#	Security	Ticker	Shares	Value	% of portfolio	Change	Shares change
1	FS SPECIALTY LENDING FD COM SH BEN INT FSSL	FSSL	817,600	$9.1m10.94%	10.94%	Added +567.6k	+567,600 227.0%
2	CARLYLE SECURED LENDING INC COM CGBD	CGBD	616,000	$6.5m7.78%	7.78%	Added +228.5k	+228,482 59.0%
3	MSC INCOME FUND INC COM MSIF	MSIF	537,600	$6.2m7.46%	7.46%	Added +88.7k	+88,681 19.8%
4	BRIGHTSPIRE CAPITAL INC COM CL A BRSP	BRSP	1,092,000	$6.0m7.14%	7.14%	Reduced -508.0k	-508,000 -31.8%
5	CRESCENT CAP BDC INC COM CCAP	CCAP	520,800	$5.7m6.82%	6.82%	Added +181.9k	+181,893 53.7%
6	ARES COML REAL ESTATE CORP COM ACRE	ACRE	1,232,000	$5.5m6.65%	6.65%	Added +112.0k	+112,000 10.0%
7	MILLROSE PPTYS INC COM CL A MRP	MRP	179,200	$5.4m6.46%	6.46%	Added +49.2k	+49,200 37.9%
8	CLOUGH GLOBAL OPPORTUNITIES SH BEN INT GLO	GLO	728,000	$4.5m5.35%	5.35%	Added +198.5k	+198,479 37.5%
9	RUNWAY GROWTH FINANCE CORP COM RWAY	RWAY	728,000	$4.1m4.90%	4.90%	Reduced -233.3k	-233,326 -24.3%
10	NUVEEN NEW YORK AMT QLT MUNI COM NRK	NRK	323,680	$3.5m4.16%	4.16%	Reduced -30.7k	-30,734 -8.7%
11	MEXICO FD INC COM MXF	MXF	136,348	$3.0m3.58%	3.58%	Added +65.0k	+64,979 91.0%
12	BLUE OWL TECHNOLOGY FIN CORP COMMON STOCK OTF	OTF	277,467	$2.9m3.45%	3.45%	Added +88.8k	+88,793 47.1%
13	BAIN CAP SPECIALTY FIN INC COM STK BCSF	BCSF	224,000	$2.8m3.36%	3.36%	Reduced -110.0k	-109,982 -32.9%
14	SLR INVESTMENT CORP COM SLRC	SLRC	168,000	$2.1m2.49%	2.49%	New
15	GLADSTONE CAPITAL CORP COM NEW GLAD	GLAD	105,280	$2.0m2.45%	2.45%	Reduced -37.6k	-37,616 -26.3%
16	TORTOISE ENERGY INFRA CORP COM TYG	TYG	44,800	$1.9m2.30%	2.30%	New
17	BLACKSTONE MTG TR INC COM CL A BXMT	BXMT	106,400	$1.8m2.16%	2.16%	New
18	NUVEEN FLOATING RATE INCOME COM JFR	JFR	222,501	$1.7m2.05%	2.05%	New
19	ANGEL OAK MORTGAGE REIT INC COM AOMR	AOMR	164,369	$1.5m1.79%	1.79%	Added +27.9k	+27,945 20.5%
20	VIRTUS DIVIDEND INTEREST & P COM NFJ	NFJ	89,387	$1.4m1.63%	1.63%	New
21	INVESCO QUALITY MUN INCOME T COM IQI	IQI	120,018	$1.2m1.46%	1.46%	Reduced -10.4k	-10,383 -8.0%
22	NUVEEN MUN HIGH INCOME OPPOR COM NMZ	NMZ	89,600	$947.1k1.14%	1.14%	New
23	CLOUGH GLOBAL EQUITY FD COM XGLQX	XGLQX	89,094	$768.0k0.92%	0.92%	Added +53.5k	+53,540 150.6%
24	CLOUGH GLOBAL DIVID & INCOME COM GLV	GLV	91,500	$607.6k0.73%	0.73%	Added +44.1k	+44,141 93.2%
25	FS CREDIT OPPORTUNITIES CORP COMMON STOCK FSCO	FSCO	89,600	$447.1k0.54%	0.54%	Reduced -435.4k	-435,400 -82.9%
26	BLACKROCK ESG CAP ALLC TERM SHS BEN INT ECAT	ECAT	28,000	$440.2k0.53%	0.53%	Reduced -72.0k	-72,000 -72.0%
27	SABA CAPITAL INCOME & OPRNT SHS NEW BRW	BRW	56,000	$367.9k0.44%	0.44%	Reduced -38.4k	-38,432 -40.7%
28	NUVEEN CR STRATEGIES INCOME COM SHS XJQCX	XJQCX	74,901	$364.0k0.44%	0.44%	New
29	DESTRA MULTI-ALTERNATIVE FD COMMON SHARES DMA	DMA	30,000	$224.4k0.27%	0.27%	Reduced -25.1k	-25,059 -45.5%
30	FEDERATED HERMES PREM MUNI I COM FMN	FMN	15,818	$181.7k0.22%	0.22%	Reduced -1.2k	-1,200 -7.0%
31	HIGHLAND OPPORTUNITIES HIGHLAND INCOME HFRO	HFRO	24,731	$176.3k0.21%	0.21%	Added +2.6k	+2,650 12.0%
32	JAPAN SMALLER CAPITALIZATION COM JOF	JOF	10,000	$117.8k0.14%	0.14%	New
33	INVESTCORP CR MGMT BDC INC COM ICMB	ICMB	28,000	$32.8k0.04%	0.04%	Added +2.6k	+2,614 10.3%

Sold out since Q1 2026

Security	Ticker	Shares held before	Value then
GOLUB CAP BDC INC GBDC	GBDC	478,894	$6.1m478.9k shares
BLACKROCK TCP CAPITAL CORP TCPC	TCPC	850,000	$3.1m850.0k shares
NUVEEN AMT FREE MUN CR INC F NVG	NVG	113,390	$1.4m113.4k shares
NUVEEN PENNSYLVANIA QLT MUN XNQPX	XNQPX	85,044	$1.0m85.0k shares
NUVEEN NEW JERSEY QULT MUN F XNXJX	XNXJX	62,639	$770.5k62.6k shares
BLACKSTONE SECD LENDING FD BXSL	BXSL	27,041	$640.6k27.0k shares
INVESCO PA VALUE MUN INC TR VPV	VPV	49,775	$526.1k49.8k shares
CION INVT CORP CION	CION	75,000	$513.0k75.0k shares
ABRDN INCOME CREDIT STRATEGI ACP	ACP	100,000	$510.0k100.0k shares
ARES CAPITAL CORP ARCC	ARCC	17,757	$320.0k17.8k shares
TOTAL RETURN SECURITIES FUND SWZ	SWZ	47,591	$282.2k47.6k shares
APOLLO COML REAL EST FIN INC ARI	ARI	25,000	$264.0k25.0k shares
FS KKR CAP CORP FSK	FSK	25,000	$254.5k25.0k shares
OXFORD LANE CAP CORP OXLC	OXLC	25,000	$244.5k25.0k shares
NEW MTN FIN CORP NMFC	NMFC	25,000	$194.0k25.0k shares