North Ground Capital
Sector Allocation
- Other74.2%$61.8M
- Real Estate24.2%$20.2M
- Financials1.6%$1.4M
AUM History
13fpro.ai/research/fund/north-ground-capital-2055446
Conviction and streaks
Concentrating · top 10 = 67.7%From the fund's last 12 quarters of 13F filings: positions held longest at size, and names it added to or trimmed several quarters running.
Largest positions — Q2 2026
FSSL
$9.1MCGBD
$6.5MMSIF
$6.2MBRSP
$6.0MCCAP
$5.7MACRE
$5.5MMRP
$5.4MGLO
$4.5MRWAY
$4.1MNRK
$3.5MMXF
$3.0MOTF
$2.9MBCSF
$2.8MSLRC
$2.1MGLAD
$2.0MTYG
$1.9MBXMT
$1.8MJFR
$1.7MAOMD
$1.5MNFJ
$1.4M
Top 20 stock positions. Options are left out: 13F reports them at the underlying's value.
13fpro.ai/research/fund/north-ground-capital-2055446
North Ground Capital 13F holdings — Q2 2026
$83.4M portfolio (+0.4% QoQ) · 33 holdings · Q2 2026 13F · top 10 are 68% of the stock portfolio
$9.1M
10.9% of stocks
+227%This quarter+0.3%Since filed3 qtrsHeld$6.5M
7.8% of stocks
+59%This quarter-7.7%Since filed4 qtrsHeld$6.2M
7.5% of stocks
+20%This quarter-5.6%Since filed4 qtrsHeld$6.0M
7.1% of stocks
-32%This quarter-25.1%Since filed7+ qtrsHeldAIQuality32.7#2,490Est. buyEstimated buy price is Pro: unlock with a free trialTrimmed 2 qtrs in a row$5.7M
6.8% of stocks
+54%This quarter-21.4%Since filed5 qtrsHeld$5.5M
6.7% of stocks
+10%This quarter-27.5%Since filed4 qtrsHeld$5.4M
6.5% of stocks
+38%This quarter-19.6%Since filed3 qtrsHeldAIQualityAI quality score is Pro: unlock with a free trialEst. buyEstimated buy price is Pro: unlock with a free trialAdded 3 qtrs in a row$4.5M
5.3% of stocks
+37%This quarter-8.8%Since filed7+ qtrsHeld$4.1M
4.9% of stocks
-24%This quarter-7.8%Since filed7+ qtrsHeldAIQualityAI quality score is Pro: unlock with a free trialEst. buyEstimated buy price is Pro: unlock with a free trialTrimmed 2 qtrs in a row$3.5M
4.2% of stocks
-9%This quarter-10.6%Since filed7+ qtrsHeldAIQualityAI quality score is Pro: unlock with a free trialEst. buyEstimated buy price is Pro: unlock with a free trialTrimmed 2 qtrs in a row
All holdings — North Ground Capital (Q2 2026)
33 disclosed positions from the Form 13F-HR on SEC EDGAR, with quarter-over-quarter share changes. Largest by value first; the ten above are not repeated.
| # | Company | Held | Source | |||||||
|---|---|---|---|---|---|---|---|---|---|---|
| 11 | MEXICO FUND INC | Other | $3.0M | 3.6% | 136K | +91% | 4 qtrs | AI quality score is Pro: unlock with a free trial | 13F | |
| 12 | Blue Owl Technology Finance Corp. | Other | $2.9M | 3.5% | 277K | +47% | 4 qtrs | AI quality score is Pro: unlock with a free trial | 13F | |
| 13 | Bain Capital Specialty Finance, Inc. | Other | $2.8M | 3.4% | 224K | -33% | 4 qtrsTrimmed 2 qtrs in a row | AI quality score is Pro: unlock with a free trial | 13F | |
| 14 | SLR Investment Corp. | Other | $2.1M | 2.5% | 168K | New | 1 qtr | AI quality score is Pro: unlock with a free trial | 13F | |
| 15 | GLADSTONE CAPITAL CORP | Other | $2.0M | 2.5% | 105K | -26% | 2 qtrs | AI quality score is Pro: unlock with a free trial | 13F | |
| 16 | TORTOISE ENERGY INFRASTRUCTURE CORP | Other | $1.9M | 2.3% | 45K | New | 1 qtr | AI quality score is Pro: unlock with a free trial | 13F | |
| 17 | BLACKSTONE MORTGAGE TRUST, INC. | Real Estate | $1.8M | 2.2% | 106K | New | 1 qtr | AI quality score is Pro: unlock with a free trial | 13F | |
| 18 | NUVEEN FLOATING RATE INCOME FUND | Other | $1.7M | 2.0% | 223K | New | 1 qtr | AI quality score is Pro: unlock with a free trial | 13F | |
| 19 | Angel Oak Mortgage REIT, Inc. | Real Estate | $1.5M | 1.8% | 164K | +20% | 7+ qtrs | AI quality score is Pro: unlock with a free trial | 13F | |
| 20 | Virtus Dividend, Interest & Premium Strategy Fund | Financials | $1.4M | 1.6% | 89K | New | 1 qtr | AI quality score is Pro: unlock with a free trial | 13F | |
| 21 | Invesco Quality Municipal Income Trust | Other | $1.2M | 1.5% | 120K | -8% | 7+ qtrsTrimmed 2 qtrs in a row | AI quality score is Pro: unlock with a free trial | 13F | |
| 22 | NUVEEN MUNICIPAL HIGH INCOME OPPORTUNITY FUND | Other | $947K | 1.1% | 90K | New | 1 qtr | AI quality score is Pro: unlock with a free trial | 13F | |
| 23 | Clough Global Equity Fund | Other | $768K | 0.9% | 89K | +151% | 7+ qtrs | AI quality score is Pro: unlock with a free trial | 13F | |
| 24 | Clough Global Dividend & Income Fund | Other | $608K | 0.7% | 92K | +93% | 7+ qtrs | AI quality score is Pro: unlock with a free trial | 13F | |
| 25 | FS Credit Opportunities Corp. | Other | $447K | 0.5% | 90K | -83% | 3 qtrs | AI quality score is Pro: unlock with a free trial | 13F | |
| 26 | $ECAT | BlackRock ESG Capital Allocation Term Trust | — | $440K | 0.5% | 28K | -72% | |||
| 27 | $BRW | Saba Capital Income & Opportunities Fund | Other | $368K | 0.4% | 56K | -41% | |||
| 28 | $JQC | Nuveen Credit Strategies Income Fund | Other | $364K | 0.4% | 75K | New | |||
| 29 | $DMA | Destra Multi-Alternative Fund | Other | $224K | 0.3% | 30K | -46% | |||
| 30 | $FMN | Federated Hermes Premier Municipal Income Fund | Other | $182K | 0.2% | 16K | -7% | |||
| 31 | $HFRO | HIGHLAND OPPORTUNITIES & INCOME FUND | Other | $176K | 0.2% | 25K | +12% | |||
| 32 | $JOF | JAPAN SMALLER CAPITALIZATION FUND INC | Other | $118K | 0.1% | 10K | New | |||
| 33 | $ICMB | Investcorp Credit Management BDC, Inc. | Other | $33K | 0.0% | 28K | +10% |
What changed in Q2 2026
Against the previous quarter's 13F: 8 new, 14 added to, 11 trimmed, 15 sold out. Share-count changes; largest moves by dollar size first.
New positions (8)
first bought this quarter
first bought this quarter
first bought this quarter
first bought this quarter
first bought this quarter
$NMZNUVEEN MUNICIPAL HIGH INCOME OPPORTUNITY FUND$947K
first bought this quarter
+2 more in the Excel export
Added to (14)
now $9.1M · held 3 qtrs, 3 adds in a row
now $6.5M · held 4 qtrs
now $5.7M · held 5 qtrs
now $5.4M · held 3 qtrs, 3 adds in a row
now $3.0M · held 4 qtrs
now $4.5M · held 7+ qtrs
+8 more in the Excel export
Trimmed (11)
now $6.0M · held 7+ qtrs, 2 trims in a row
$FSCOFS Credit Opportunities Corp.-83%
now $447K · held 3 qtrs
now $2.8M · held 4 qtrs, 2 trims in a row
now $4.1M · held 7+ qtrs, 2 trims in a row
$ECATBlackRock ESG Capital Allocation Term Trust-72%
now $440K · held 7+ qtrs, 5 trims in a row
now $2.0M · held 2 qtrs
+5 more in the Excel export
Sold out (15)
$GBDCGOLUB CAPITAL BDC, Inc.was $6.1M
held 3 qtrs
$TCPCBlackRock TCP Capital Corp.was $3.1M
held 3 qtrs
$NVGNuveen AMT-Free Municipal Credit Income Fundwas $1.4M
held 6+ qtrs
- NUVEEN PA INVT QUALITY MUN Fwas $1.0M
- NUVEEN NEW JERSEYwas $770K
$BXSLBlackstone Secured Lending Fundwas $641K
+9 more in the Excel export
Holdings by quarter
Every 13F North Ground Capital has filed, 6 earlier quarters. Pick one to see what it held then.
Is it too late to follow North Ground Capital?
Q2 2026 13F filed with the SEC on Aug 13, 2026. Prices are closing prices as of Oct 27, 2026.
Average quality of North Ground Capital's top 20 holdings: 47/100 (our AI quality score, weighted by position size; 12 of the 20 are scored)
Top 10 since filing
-12.8%
Value-weighted move of the 10 largest stock positions
Turnover
32%
Last quarter; 75% over the last 4
Top 10 weight
68%
Share of the stock portfolio in its 10 largest positions
Held 4+ quarters
67%
Share of portfolio value in positions held a year or more
Highest-quality names it owns(among its 100 largest positions)
The 8 highest-scoring companies in this portfolio are a Pro feature.
How these are measured
- Moves since the quarter-end and since the filing date use our own daily closing prices, from the close on (or just before) each date to the latest close.
- Turnover is the lesser of shares bought or sold in a quarter, valued at the quarter-end prices in the 13F, divided by the average of the two quarters' stock portfolio values.
- Quarters held and add/trim streaks count back only through quarters whose filed holdings add up to the filing's own cover-page total (back to Q4 2024 for this fund). A change counts as an add or a trim when the split-adjusted share count moves by more than 1%.
- Estimate, not the fund's reported cost. For each quarter in the current holding period in which the fund's share count rose (split-adjusted), we take that quarter's average daily close and weight it by the shares added; sales do not change an average cost. Quarters where the stock's price history and the 13F's own implied price disagree by more than 2x are left out.
- Put and call option rows report the value of the underlying shares, not a position the fund paid for, so they are left out of all of the above.
Portfolio Overview
North Ground Capital disclosed 33 positions worth $83.4M in its Form 13F-HR for Q2 2026, led by $FSSL (FS Specialty Lending Fund) at 10.9% of the equity portfolio, followed by $CGBD and $MSIF. During the quarter the fund opened 8 new positions and exited 15 — including a new stake in $SLRC and a full exit from $GBDC. The portfolio is most concentrated in Other (74.2% of disclosed assets). All figures are sourced directly from North Ground Capital’s Form 13F-HR filing with the SEC under CIK 2055446.
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AI-Powered Hedge Fund Analysis: North Ground Capital
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Every holding in North Ground Capital's portfolio is scored on an AI quality ranking built from its SEC filings (ROIC, FCF margin, revenue growth, institutional flow, earnings quality, shareholder dilution, and more). Track accumulation and distribution quarter over quarter, identify conviction positions, and see AI stock analysis for each position — alongside 8,700+ other institutional filers and 2,800+ AI-ranked companies.