North Ground Capital

All Holdings — 2025 Q4

AI Portfolio Summary
In 2025 Q4, North Ground Capital maintained a portfolio of 57 distinct positions. The most significant new addition to the portfolio was XAI OCTAGN FLT RAT &, which now represents 3.53% of the total fund value. They heavily accumulated shares in BRIGHTSPIRE CAPITAL , increasing their position by 21.2%. Conversely, North Ground Capital completely exited their position in OXFORD SQUARE CAP CO.
PCA Score Concentration Risk
Risk ENB
Total Positions
57
Quarter
2025 Q4
Top Holding
BRSP (8.5%)
Top 10 Concentration
58.0%
Turnover Rate
23.4%
Sector HHI
0.18
Items per page:
Showing 1-50 of 57
Stock History Sector / Type Port % Prev % Rank / Prev Conviction Change % Change Influence Shares Mkt Value Avg Cost Price Held 1st Owned Source Source Date Date Reported
BRSP
BRIGHTSPIRE CAP...
Real Estate 8.49% 8.40% #1
Prev: #1
7.9 534,552 21.2%
P
S
3,054,552 $17,105,491 2024 Q4 13F Filing 2025-12-31 2026-02-14 (Est.)
OXLC
OXFORD LANE CAP...
Financial Services 7.51% 4.15% #2 4
Prev: #6
7.5 610,363 144.6%
P
S
1,032,585 $15,117,044 2025 Q3 13F Filing 2025-12-31 2026-02-14 (Est.)
RWAY
RUNWAY GROWTH F...
Financial Services 6.96% 4.83% #3 1
Prev: #4
6.8 794,050 102.5%
P
S
1,569,050 $14,011,617 2024 Q4 13F Filing 2025-12-31 2026-02-14 (Est.)
FSK
FS KKR CAP CORP
Financial Services 6.59% 5.63% #4 1
Prev: #3
5.6 280,746 45.6%
P
S
895,746 $13,265,998 2025 Q2 13F Filing 2025-12-31 2026-02-14 (Est.)
CCAP
CRESCENT CAP BD...
Financial Services 5.83% 3.66% #5 4
Prev: #9
5.8 417,312 99.8%
P
S
835,312 $11,736,134 2025 Q2 13F Filing 2025-12-31 2026-02-14 (Est.)
CGBD
CARLYLE SECURED...
Financial Services 5.66% 3.65% #6 4
Prev: #10
5.3 436,086 91.6%
P
S
912,220 $11,393,628 2025 Q3 13F Filing 2025-12-31 2026-02-14 (Est.)
CION
CION INVT CORP
Financial Services 5.22% 5.83% #7 5
Prev: #2
4.1 84,214 8.4%
P
S
1,086,992 $10,511,213 2024 Q4 13F Filing 2025-12-31 2026-02-14 (Est.)
BCSF
BAIN CAP SPECIA...
Financial Services 4.33% 1.53% #8 15
Prev: #23
4.7 451,514 258.0%
P
S
626,514 $8,714,810 2025 Q3 13F Filing 2025-12-31 2026-02-14 (Est.)
MFIC
MIDCAP FINANCIA...
Financial Services 3.70% 1.84% #9 13
Prev: #22
4.5 401,326 160.5%
P
S
651,326 $7,451,169 2024 Q4 13F Filing 2025-12-31 2026-02-14 (Est.)
ACRE
ARES COML REAL ...
Real Estate 3.68% 3.20% #10 3
Prev: #13
4.0 393,943 34.0%
P
S
1,551,806 $7,417,633 2025 Q1 13F Filing 2025-12-31 2026-02-14 (Est.)
XFLT
XAI OCTAGN FLT ...
Financial Services 3.53% #11
Prev: #—
4.9 1,482,418 no change
NEW
1,482,418 $7,115,606 2025 Q4 13F Filing 2025-12-31 2026-02-14 (Est.)
MSIF
MSC INCOME FUND...
Financial Services 3.27% 2.58% #12 5
Prev: #17
4.3 181,898 56.9%
P
S
501,678 $6,592,049 2025 Q3 13F Filing 2025-12-31 2026-02-14 (Est.)
GLO
CLOUGH GLOBAL O...
Bond/Debt 3.13% 3.31% #13 1
Prev: #12
3.3 165,274 17.4%
P
S
1,112,636 $6,297,520 2024 Q4 13F Filing 2025-12-31 2026-02-14 (Est.)
NRK
NUVEEN NEW YORK...
Financial Services 3.01% 3.37% #14 3
Prev: #11
3.2 62,562 11.6%
P
S
601,212 $6,066,229 2024 Q4 13F Filing 2025-12-31 2026-02-14 (Est.)
GBDC
GOLUB CAP BDC I...
Financial Services 2.20% 0.42% #15 29
Prev: #44
3.9 276,106 552.2%
P
S
326,106 $4,425,258 2025 Q3 13F Filing 2025-12-31 2026-02-14 (Est.)
TCPC
BLACKROCK TCP C...
Financial Services 2.14% 1.90% #16 5
Prev: #21
3.9 287,946 57.6%
P
S
787,946 $4,310,065 2024 Q4 13F Filing 2025-12-31 2026-02-14 (Est.)
SWZ
TOTAL RETURN SE...
Unknown 2.04% 0.72% #17 17
Prev: #34
3.8 467,622 241.6%
P
S
661,145 $4,112,322 2025 Q1 13F Filing 2025-12-31 2026-02-14 (Est.)
OTF
BLUE OWL TECHNO...
Financial Services 1.96% 3.18% #18 4
Prev: #14
0.8 -103,355 -27.6%
P
S
271,645 $3,949,718 2025 Q3 13F Filing 2025-12-31 2026-02-14 (Est.)
NVG
NUVEEN AMT FREE...
Financial Services 1.92% 2.06% #19
Prev: #19
2.8 31,464 11.5%
P
S
305,064 $3,862,110 2024 Q4 13F Filing 2025-12-31 2026-02-14 (Est.)
MRP
MILLROSE PPTYS ...
Real Estate 1.89% #20
Prev: #—
4.3 127,189 no change
NEW
127,189 $3,799,135 2025 Q1 13F Filing 2025-12-31 2026-02-14 (Est.)
ECAT
BLACKROCK ESG C...
Bond/Debt 1.71% 2.87% #21 5
Prev: #16
0.7 -61,286 -21.5%
P
S
223,714 $3,440,721 2024 Q4 13F Filing 2025-12-31 2026-02-14 (Est.)
NZF
NUVEEN MUNICIPA...
Bond/Debt 1.40% 1.98% #22 2
Prev: #20
1.1 -32,964 -12.9%
P
S
223,536 $2,812,083 2024 Q4 13F Filing 2025-12-31 2026-02-14 (Est.)
MXF
MEXICO FD INC
Financial Services 1.26% 0.37% #23 22
Prev: #45
3.5 95,443 309.2%
P
S
126,312 $2,543,924 2025 Q3 13F Filing 2025-12-31 2026-02-14 (Est.)
IQI
INVESCO QUALITY...
Financial Services 1.18% 1.29% #24 2
Prev: #26
2.5 24,617 11.5%
P
S
238,367 $2,374,135 2024 Q4 13F Filing 2025-12-31 2026-02-14 (Est.)
ECC
EAGLE POINT CRE...
Financial Services 1.12% 3.05% #25 10
Prev: #15
0.4 -242,865 -38.3%
P
S
390,468 $2,249,096 2025 Q3 13F Filing 2025-12-31 2026-02-14 (Est.)
AOMR
ANGEL OAK MORTG...
Real Estate 1.07% 2.24% #26 8
Prev: #18
0.4 -139,208 -35.8%
P
S
249,628 $2,149,297 2024 Q4 13F Filing 2025-12-31 2026-02-14 (Est.)
FSSL
FS SPECIALTY LE...
Bond/Debt 0.95% #27
Prev: #—
3.9 135,324 no change
NEW
135,324 $1,913,481 2025 Q4 13F Filing 2025-12-31 2026-02-14 (Est.)
NQP
NUVEEN PENNSYLV...
Financial Services 0.90% 1.01% #28 2
Prev: #30
2.4 15,729 11.5%
P
S
152,529 $1,813,570 2024 Q4 13F Filing 2025-12-31 2026-02-14 (Est.)
ACP
ABRDN INCOME CR...
Financial Services 0.88% 1.05% #29
Prev: #29
2.4 33,222 11.2%
P
S
329,148 $1,780,691 2024 Q4 13F Filing 2025-12-31 2026-02-14 (Est.)
GLV
CLOUGH GLOBAL D...
Financial Services 0.72% 1.14% #30 3
Prev: #27
0.3 -68,777 -22.0%
P
S
244,254 $1,458,196 2024 Q4 13F Filing 2025-12-31 2026-02-14 (Est.)
NXJ
NUVEEN NEW JERS...
Financial Services 0.71% 1.30% #31 6
Prev: #25
0.3 -58,174 -34.0%
P
S
112,826 $1,426,121 2024 Q4 13F Filing 2025-12-31 2026-02-14 (Est.)
ZTR
VIRTUS TOTAL RE...
Unknown 0.70% 4.74% #32 27
Prev: #5
0.3 -974,814 -81.4%
P
S
222,186 $1,399,772 2024 Q4 13F Filing 2025-12-31 2026-02-14 (Est.)
HFRO
HIGHLAND OPPS &...
Financial Services 0.57% 0.77% #33 1
Prev: #32
0.7 -4,295 -2.2%
P
S
192,701 $1,152,352 2024 Q4 13F Filing 2025-12-31 2026-02-14 (Est.)
BRW
SABA CAPITAL IN...
Financial Services 0.57% 0.52% #34 4
Prev: #38
2.7 53,114 48.3%
P
S
163,114 $1,143,429 2025 Q1 13F Filing 2025-12-31 2026-02-14 (Est.)
AEF
ABRDN EMERGING ...
Financial Services 0.53% 0.55% #35 1
Prev: #36
2.2 14,332 10.4%
P
S
152,370 $1,066,590 2024 Q4 13F Filing 2025-12-31 2026-02-14 (Est.)
VPV
INVESCO PA VALU...
Financial Services 0.49% 0.53% #36 1
Prev: #37
2.2 9,790 11.7%
P
S
93,481 $977,811 2024 Q4 13F Filing 2025-12-31 2026-02-14 (Est.)
NEA
NUVEEN AMT FREE...
Financial Services 0.44% 0.48% #37 3
Prev: #40
2.2 7,942 11.6%
P
S
76,342 $887,857 2024 Q4 13F Filing 2025-12-31 2026-02-14 (Est.)
VKI
INVESCO ADVANTA...
Bond/Debt 0.43% 0.46% #38 4
Prev: #42
2.2 9,943 11.6%
P
S
95,443 $870,440 2024 Q4 13F Filing 2025-12-31 2026-02-14 (Est.)
DMA
DESTRA MULTI-AL...
Financial Services 0.34% 0.31% #39 8
Prev: #47
2.6 18,304 31.0%
P
S
77,310 $693,471 2025 Q3 13F Filing 2025-12-31 2026-02-14 (Est.)
ARI
APOLLO COML REA...
Real Estate 0.29% #40
Prev: #—
3.6 60,000 no change
NEW
60,000 $580,800 2024 Q4 13F Filing 2025-12-31 2026-02-14 (Est.)
GLQ
CLOUGH GLOBAL E...
Financial Services 0.27% 1.09% #41 13
Prev: #28
0.1 -162,170 -69.2%
P
S
72,019 $551,666 2024 Q4 13F Filing 2025-12-31 2026-02-14 (Est.)
FMN
FEDERATED HERME...
Financial Services 0.21% 0.23% #42 6
Prev: #48
2.1 4,058 11.8%
P
S
38,429 $426,946 2024 Q4 13F Filing 2025-12-31 2026-02-14 (Est.)
FSCO
FS CREDIT OPPOR...
Financial Services 0.09% #43
Prev: #—
3.5 27,334 no change
NEW
27,334 $172,204 2025 Q4 13F Filing 2025-12-31 2026-02-14 (Est.)
ICMB
INVESTCORP CR M...
Financial Services 0.07% #44
Prev: #—
3.5 54,299 no change
NEW
54,299 $146,607 2025 Q4 13F Filing 2025-12-31 2026-02-14 (Est.)
WIA
WESTERN ASST IN...
Bond/Debt 0.04% 0.52% #45 6
Prev: #39
0.0 -88,950 -89.1%
P
S
10,892 $90,077 2024 Q4 13F Filing 2025-12-31 2026-02-14 (Est.)
OXSQ
OXFORD SQUARE C...
Financial Services 0.00% 0.05%
Sold All 😨
(Was: #51)
0.0 -50,000 -100.0%
CLOSED
$— 2025 Q3 13F Filing 2025-12-31 2026-02-14 (Est.)
EVM
EATON VANCE CAL...
Unknown 0.00% 0.10%
Sold All 😨
(Was: #50)
0.0 -17,623 -100.0%
CLOSED
$— 2024 Q4 13F Filing 2025-12-31 2026-02-14 (Est.)
ENX
EATON VANCE NEW...
Unknown 0.00% 0.22%
Sold All 😨
(Was: #49)
0.0 -36,942 -100.0%
CLOSED
$— 2024 Q4 13F Filing 2025-12-31 2026-02-14 (Est.)
RWT
REDWOOD TRUST I...
Real Estate 0.00% 0.34%
Sold All 😨
(Was: #46)
0.0 -95,000 -100.0%
CLOSED
$— 2025 Q3 13F Filing 2025-12-31 2026-02-14 (Est.)
EMO
CLEARBRIDGE ENE...
Financial Services 0.00% 0.45%
Sold All 😨
(Was: #43)
0.0 -16,446 -100.0%
CLOSED
$— 2024 Q4 13F Filing 2025-12-31 2026-02-14 (Est.)
Showing 1-50 of 57 holdings

Unlock Full North Ground Capital Analysis

PRO subscribers get access to all historical quarters, Excel/CSV exports, Portfolio Concentration Analytics (PCA), and Risk-Based ENB.

Full Historical Quarters
Excel & CSV Export
PCA & Risk-Based ENB
Auto Cost Basis
Position Change Alerts
Price-Held Analytics