North Ground Capital 13F holdings, Q3 2025
Holdings as of September 30, 2025 · filings on SEC EDGAR · latest filing →
North Ground Capital disclosed 51 US equity positions worth $163.0m in its Q3 2025 13F filing. The largest position was BRSP at 8.4% of the reported book, followed by CION and FSK. Against the Q2 2025 filing, it opened 17 new positions, added to 26 and reduced 7 among the top 50 holdings.
What did North Ground Capital own in Q3 2025? Top 50 positions
| # | Stock | Sector | Weight | Value | Shares | Δ shares | vs Q2 2025 |
|---|---|---|---|---|---|---|---|
| 1 | BRSP BRIGHTSPIRE CAPITAL INC | 8.4% | $13.7m | 2,520,000 | 90% | added | |
| 2 | CION CION INVT CORP | 5.8% | $9.5m | 1,002,778 | 101% | added | |
| 3 | FSK FS KKR CAP CORP | 5.6% | $9.2m | 615,000 | 3744% | added | |
| 4 | RWAY RUNWAY GROWTH FINANCE CORP | 4.8% | $7.9m | 775,000 | 49% | added | |
| 5 | VIRTUS TOTAL RETURN FD INC | 4.7% | $7.7m | 1,197,000 | 121% | added | |
| 6 | OXFORD LANE CAP CORP | 4.2% | $6.8m | 422,222 | – | new | |
| 7 | EAGLE POINT INCOME COMPANY I | 4.0% | $6.5m | 422,222 | – | new | |
| 8 | JAAA JANUS DETROIT STR TR | 3.9% | $6.4m | 126,667 | – | new | |
| 9 | CCAP CRESCENT CAP BDC INC | 3.7% | $6.0m | 418,000 | 34% | added | |
| 10 | CARLYLE SECURED LENDING INC | 3.7% | $6.0m | 476,134 | – | new | |
| 11 | NUVEEN NEW YORK AMT QLT MUNI | 3.4% | $5.5m | 538,650 | 68% | added | |
| 12 | CLOUGH GLOBAL OPPORTUNITIES | 3.3% | $5.4m | 947,362 | 119% | added | |
| 13 | ACRE ARES COML REAL ESTATE CORP | 3.2% | $5.2m | 1,157,863 | – | new | |
| 14 | OTF BLUE OWL TECHNOLOGY FIN CORP | 3.2% | $5.2m | 375,000 | – | new | |
| 15 | EAGLE POINT CREDIT COMPANY I | 3.1% | $5.0m | 633,333 | – | new | |
| 16 | BLACKROCK ESG CAP ALLC TERM | 2.9% | $4.7m | 285,000 | -42% | reduced | |
| 17 | MSC INCOME FUND INC | 2.6% | $4.2m | 319,780 | – | new | |
| 18 | AOMR ANGEL OAK MORTGAGE REIT INC | 2.2% | $3.6m | 388,836 | 94% | added | |
| 19 | NUVEEN AMT FREE MUN CR INC F | 2.1% | $3.4m | 273,600 | 70% | added | |
| 20 | NUVEEN MUNICIPAL CREDIT INC | 2.0% | $3.2m | 256,500 | 68% | added | |
| 21 | BLACKROCK TCP CAPITAL CORP | 1.9% | $3.1m | 500,000 | – | new | |
| 22 | MFIC MIDCAP FINANCIAL INVSTMNT CO | 1.8% | $3.0m | 250,000 | – | new | |
| 23 | BAIN CAP SPECIALTY FIN INC | 1.5% | $2.5m | 175,000 | – | new | |
| 24 | NUVEEN MUN CR OPPORTUNITIES | 1.4% | $2.2m | 206,380 | 85% | added | |
| 25 | NUVEEN NEW JERSEY QULT MUN F | 1.3% | $2.1m | 171,000 | 70% | added | |
| 26 | INVESCO QUALITY MUN INCOME T | 1.3% | $2.1m | 213,750 | 61% | added | |
| 27 | CLOUGH GLOBAL DIVID & INCOME | 1.1% | $1.9m | 313,031 | 8% | added | |
| 28 | CLOUGH GLOBAL EQUITY FD | 1.1% | $1.8m | 234,189 | 16% | added | |
| 29 | ABRDN INCOME CREDIT STRATEGI | 1.1% | $1.7m | 295,926 | -35% | reduced | |
| 30 | NUVEEN PENNSYLVANIA QLT MUN | 1.0% | $1.6m | 136,800 | 67% | added | |
| 31 | KBDC KAYNE ANDERSON BDC INC | 0.8% | $1.3m | 100,000 | – | new | |
| 32 | HIGHLAND OPPS & INCOME FD | 0.8% | $1.3m | 196,996 | -1% | reduced | |
| 33 | TORTOISE ENERGY INFRA CORP | 0.8% | $1.2m | 28,932 | 18% | added | |
| 34 | TOTAL RETURN SECURITIES FUND | 0.7% | $1.2m | 193,523 | 29% | added | |
| 35 | INVESCO TR INVT GRADE NEW YO | 0.7% | $1.2m | 106,729 | 74% | added | |
| 36 | ABRDN EMERGING MARKETS EX CH | 0.5% | $894.5k | 138,038 | -52% | reduced | |
| 37 | INVESCO PA VALUE MUN INC TR | 0.5% | $864.5k | 83,691 | 68% | added | |
| 38 | SABA CAPITAL INCOME & OPRNT | 0.5% | $854.7k | 110,000 | -39% | reduced | |
| 39 | WESTERN ASST INFLTN LKD INM | 0.5% | $840.7k | 99,842 | -53% | reduced | |
| 40 | NUVEEN AMT FREE QLTY MUN INC | 0.5% | $779.1k | 68,400 | 66% | added | |
| 41 | ABRDN TOTAL DYNAMIC DIVIDEND | 0.5% | $766.0k | 80,974 | -74% | reduced | |
| 42 | INVESCO ADVANTAGE MUN INCOME | 0.5% | $749.8k | 85,500 | 70% | added | |
| 43 | CLEARBRIDGE ENERGY MIDSTRM O | 0.5% | $738.8k | 16,446 | 20% | added | |
| 44 | GBDC GOLUB CAP BDC INC | 0.4% | $684.5k | 50,000 | – | new | |
| 45 | MEXICO FD INC | 0.4% | $608.1k | 30,869 | – | new | |
| 46 | RWT REDWOOD TRUST INC | Real Estate | 0.3% | $550.0k | 95,000 | – | new |
| 47 | DESTRA MULTI-ALTERNATIVE FD | 0.3% | $509.8k | 59,006 | – | new | |
| 48 | FEDERATED HERMES PREM MUNI I | 0.2% | $379.5k | 34,371 | 73% | added | |
| 49 | EATON VANCE NEW YORK MUN BD | 0.2% | $364.2k | 36,942 | 303% | added | |
| 50 | EATON VANCE CALIF MUN BD FD | 0.1% | $167.2k | 17,623 | – | new |
Weights are shares of the reported long US equity book (options excluded). Values are as filed, normalised to whole dollars. Share changes compare against the immediately preceding filing only.