Q3 2025 · 13F-HR
North Ground Capitalholdings as filed
Filed 2025-10-29 · accession 0001420506-25-002922
$163.0M
Reported value
51
Positions
2025-09-30
Period end
The Brief · North Ground Capital · Q3 2025
AI · grounded in 13F
North Ground Capital established a new position in BRSP worth $13.68M. The fund also initiated new stakes in CION for $9.51M and FSK for $9.18M. Additional new positions include RWAY at $7.87M and ZTR at $7.72M.
Holdings as filed
| CUSIP | Ticker | Issuer | Value | % port. | Shares | Class | Voting |
|---|---|---|---|---|---|---|---|
| 10949T109 | BRSP | BRIGHTSPIRE CAPITAL INC | $13.7M | 8.40% | 2,520,000 | Common | SOLE |
| 17259U204 | CION | CION INVT CORP | $9.5M | 5.83% | 1,002,778 | Common | SOLE |
| 302635206 | FSK | FS KKR CAP CORP | $9.2M | 5.63% | 615,000 | Common | SOLE |
| 78163D100 | RWAY | RUNWAY GROWTH FINANCE CORP | $7.9M | 4.83% | 775,000 | Common | SOLE |
| 92835W107 | ZTR | VIRTUS TOTAL RETURN FD INC | $7.7M | 4.74% | 1,197,000 | Common | SOLE |
| 691543847 | OXLC | OXFORD LANE CAP CORP | $6.8M | 4.15% | 422,222 | Common | SOLE |
| 269817102 | EIC | EAGLE POINT INCOME COMPANY I | $6.5M | 3.96% | 422,222 | Common | SOLE |
| 47103U845 | JAAA | JANUS DETROIT STR TR | $6.4M | 3.95% | 126,667 | Common | SOLE |
| 225655109 | CCAP | CRESCENT CAP BDC INC | $6.0M | 3.66% | 418,000 | Common | SOLE |
| 872280102 | CGBD | CARLYLE SECURED LENDING INC | $6.0M | 3.65% | 476,134 | Common | SOLE |
| 670656107 | NRK | NUVEEN NEW YORK AMT QLT MUNI | $5.5M | 3.37% | 538,650 | Common | SOLE |
| 18914E106 | GLO | CLOUGH GLOBAL OPPORTUNITIES | $5.4M | 3.31% | 947,362 | Common | SOLE |
| 04013V108 | ACRE | ARES COML REAL ESTATE CORP | $5.2M | 3.20% | 1,157,863 | Common | SOLE |
| 095924106 | OTF | BLUE OWL TECHNOLOGY FIN CORP | $5.2M | 3.18% | 375,000 | Common | SOLE |
| 269808101 | ECC | EAGLE POINT CREDIT COMPANY I | $5.0M | 3.05% | 633,333 | Common | SOLE |
| 09262F100 | ECAT | BLACKROCK ESG CAP ALLC TERM | $4.7M | 2.87% | 285,000 | Common | SOLE |
| 55374X208 | MSIF | MSC INCOME FUND INC | $4.2M | 2.58% | 319,780 | Common | SOLE |
| 03464Y108 | AOMR | ANGEL OAK MORTGAGE REIT INC | $3.6M | 2.24% | 388,836 | Common | SOLE |
| 67071L106 | NVG | NUVEEN AMT FREE MUN CR INC F | $3.4M | 2.06% | 273,600 | Common | SOLE |
| 67070X101 | NZF | NUVEEN MUNICIPAL CREDIT INC | $3.2M | 1.98% | 256,500 | Common | SOLE |
| 09259E108 | TCPC | BLACKROCK TCP CAPITAL CORP | $3.1M | 1.90% | 500,000 | Common | SOLE |
| 03761U502 | MFIC | MIDCAP FINANCIAL INVSTMNT CO | $3.0M | 1.84% | 250,000 | Common | SOLE |
| 05684B107 | BCSF | BAIN CAP SPECIALTY FIN INC | $2.5M | 1.53% | 175,000 | Common | SOLE |
| 670663103 | NMCO | NUVEEN MUN CR OPPORTUNITIES | $2.2M | 1.38% | 206,380 | Common | SOLE |
| 67069Y102 | XNXJX | NUVEEN NEW JERSEY QULT MUN F | $2.1M | 1.30% | 171,000 | Common | SOLE |
| 46133G107 | IQI | INVESCO QUALITY MUN INCOME T | $2.1M | 1.29% | 213,750 | Common | SOLE |
| 18913Y103 | GLV | CLOUGH GLOBAL DIVID & INCOME | $1.9M | 1.14% | 313,031 | Common | SOLE |
| 18914C100 | XGLQX | CLOUGH GLOBAL EQUITY FD | $1.8M | 1.09% | 234,189 | Common | SOLE |
| 003057106 | ACP | ABRDN INCOME CREDIT STRATEGI | $1.7M | 1.05% | 295,926 | Common | SOLE |
| 670972108 | XNQPX | NUVEEN PENNSYLVANIA QLT MUN | $1.6M | 1.01% | 136,800 | Common | SOLE |
| 48662X105 | KBDC | KAYNE ANDERSON BDC INC | $1.3M | 0.82% | 100,000 | Common | SOLE |
| 43010E404 | HFRO | HIGHLAND OPPS & INCOME FD | $1.3M | 0.77% | 196,996 | Common | SOLE |
| 89147L886 | TYG | TORTOISE ENERGY INFRA CORP | $1.2M | 0.76% | 28,932 | Common | SOLE |
| 870875101 | SWZ | TOTAL RETURN SECURITIES FUND | $1.2M | 0.72% | 193,523 | Common | SOLE |
| 46131T101 | VTN | INVESCO TR INVT GRADE NEW YO | $1.2M | 0.72% | 106,729 | Common | SOLE |
| 00301W105 | AEF | ABRDN EMERGING MARKETS EX CH | $894,486 | 0.55% | 138,038 | Common | SOLE |
| 46132K109 | VPV | INVESCO PA VALUE MUN INC TR | $864,528 | 0.53% | 83,691 | Common | SOLE |
| 78518H202 | BRW | SABA CAPITAL INCOME & OPRNT | $854,700 | 0.52% | 110,000 | Common | SOLE |
| 95766Q106 | XWIAX | WESTERN ASST INFLTN LKD INM | $840,670 | 0.52% | 99,842 | Common | SOLE |
| 670657105 | XNEAX | NUVEEN AMT FREE QLTY MUN INC | $779,076 | 0.48% | 68,400 | Common | SOLE |
| 00326L100 | XAODX | ABRDN TOTAL DYNAMIC DIVIDEND | $766,014 | 0.47% | 80,974 | Common | SOLE |
| 46132E103 | VKI | INVESCO ADVANTAGE MUN INCOME | $749,835 | 0.46% | 85,500 | Common | SOLE |
| 18469P209 | EMO | CLEARBRIDGE ENERGY MIDSTRM O | $738,754 | 0.45% | 16,446 | Common | SOLE |
| 38173M102 | GBDC | GOLUB CAP BDC INC | $684,500 | 0.42% | 50,000 | Common | SOLE |
| 592835102 | MXF | MEXICO FD INC | $608,119 | 0.37% | 30,869 | Common | SOLE |
| 758075402 | RWT | REDWOOD TRUST INC | $550,050 | 0.34% | 95,000 | Common | SOLE |
| 25065A502 | DMA | DESTRA MULTI-ALTERNATIVE FD | $509,812 | 0.31% | 59,006 | Common | SOLE |
| 31423P108 | FMN | FEDERATED HERMES PREM MUNI I | $379,456 | 0.23% | 34,371 | Common | SOLE |
| 27827Y109 | XENWX | EATON VANCE NEW YORK MUN BD | $364,248 | 0.22% | 36,942 | Common | SOLE |
| 27828A100 | XEVMX | EATON VANCE CALIF MUN BD FD | $167,242 | 0.10% | 17,623 | Common | SOLE |
| 69181V107 | OXSQ | OXFORD SQUARE CAP CORP | $79,500 | 0.05% | 50,000 | Common | SOLE |
Source: SEC EDGAR · raw 13F holdings as filed. The Class column shows the option type when reported (Put/Call) or Common when the issuer's equity is held directly. 13F discloses long positions only.