North Ground Capital reported 14 positions worth $52.49M for the quarter ended Jun 30, 2026, down 12.3% on the prior quarter. It opened 2 new positions, added to 8, trimmed 4 and exited 8. Its largest holding is Carlyle Secured Lending, Inc. at 12.4% of the portfolio.
Reported 13F market value at each quarter end. A change mixes trading with price moves in the positions held.
Dollar value of shares bought and sold each quarter, at that quarter’s price. It counts trading only, not price changes.
How many positions were opened, added to, trimmed or closed each quarter.
Share of reported value in each sector at every quarter end.
| Holding | Change | Change % | Trade Value | Weight |
|---|---|---|---|---|
| CGBD Carlyle Secured Lending, Inc. | +228.5K | +59.0% | $2.41M | 12.36% |
| SLRC SLR Investment Corp. | +168.0K | – | $2.08M | 3.96% |
| CCAP Crescent Capital BDC, Inc. | +181.9K | +53.7% | $1.99M | 10.84% |
| BXMT Blackstone Mortgage Trust, Inc. | +106.4K | – | $1.80M | 3.44% |
| MRP Millrose Properties, Inc. | +49.2K | +37.8% | $1.48M | 10.26% |
| MSIF Msc Income Fund, Inc. | +88.7K | +19.8% | $1.03M | 11.85% |
| OTF Blue Owl Technology Finance Corp. | +88.8K | +47.1% | $919.01K | 5.47% |
| ACRE Ares Commercial Real Estate Corp | +112.0K | +10.0% | $504.00K | 10.56% |
| AOMR Angel Oak Mortgage REIT, Inc. | +27.9K | +20.5% | $253.74K | 2.84% |
| ICMB Investcorp Credit Management BDC, Inc. | +2,614 | +10.3% | $3.06K | 0.062% |
| Holding | Change | Change % | Trade Value | Weight |
|---|---|---|---|---|
| GBDC GOLUB CAPITAL BDC, Inc. | -478.9K | -100.0% | $6.06M | Exited |
| TCPC BlackRock TCP Capital Corp. | -850.0K | -100.0% | $3.07M | Exited |
| BRSP BrightSpire Capital, Inc. | -508.0K | -31.8% | $2.77M | 11.34% |
| BCSF Bain Capital Specialty Finance, Inc. | -110.0K | -32.9% | $1.38M | 5.34% |
| RWAY Runway Growth Finance Corp. | -233.3K | -24.3% | $1.31M | 7.78% |
| GLAD Gladstone Capital Corp | -37.6K | -26.3% | $730.50K | 3.9% |
| BXSL Blackstone Secured Lending Fund | -27.0K | -100.0% | $640.60K | Exited |
| CION CION Investment Corp | -75.0K | -100.0% | $513.00K | Exited |
| ARCC Ares Capital Corp | -17.8K | -100.0% | $319.98K | Exited |
| ARI Apollo Commercial Real Estate Finance, Inc. | -25.0K | -100.0% | $264.00K | Exited |
| Holding | Shares Sold | Trade Value | Prior Weight |
|---|---|---|---|
| GBDC GOLUB CAPITAL BDC, Inc. | -478.9K | $6.06M | 10.13% |
| TCPC BlackRock TCP Capital Corp. | -850.0K | $3.07M | 5.13% |
| BXSL Blackstone Secured Lending Fund | -27.0K | $640.60K | 1.07% |
| CION CION Investment Corp | -75.0K | $513.00K | 0.857% |
| ARCC Ares Capital Corp | -17.8K | $319.98K | 0.535% |
| ARI Apollo Commercial Real Estate Finance, Inc. | -25.0K | $264.00K | 0.441% |
| FSK FS KKR Capital Corp | -25.0K | $254.50K | 0.425% |
| NMFC New Mountain Finance Corp | -25.0K | $194.00K | 0.324% |
| # | Activity | ||||||||
|---|---|---|---|---|---|---|---|---|---|
| 1 | CGBD Carlyle Secured Lending, Inc. | Financial Services | 616.0K | $6.49M | 12.36% | +228.5K | +59.0% | Added | 0.89% |
| 2 | MSIF Msc Income Fund, Inc. | Financial Services | 537.6K | $6.22M | 11.85% | +88.7K | +19.8% | Added | 1.19% |
| 3 | BRSP BrightSpire Capital, Inc. | Financial Services | 1.09M | $5.95M | 11.34% | -508.0K | -31.8% | Reduced | 0.86% |
| 4 | CCAP Crescent Capital BDC, Inc. | Financial Services | 520.8K | $5.69M | 10.84% | +181.9K | +53.7% | Added | 1.41% |
| 5 | ACRE Ares Commercial Real Estate Corp | Financial Services | 1.23M | $5.54M | 10.56% | +112.0K | +10.0% | Added | 2.22% |
| 6 | MRP Millrose Properties, Inc. | Real Estate | 179.2K | $5.38M | 10.26% | +49.2K | +37.8% | Added | 0.12% |
| 7 | RWAY Runway Growth Finance Corp. | Financial Services | 728.0K | $4.08M | 7.78% | -233.3K | -24.3% | Reduced | 1.72% |
| 8 | OTF Blue Owl Technology Finance Corp. | Financial Services | 277.5K | $2.87M | 5.47% | +88.8K | +47.1% | Added | 0.06% |
| 9 | BCSF Bain Capital Specialty Finance, Inc. | Financial Services | 224.0K | $2.80M | 5.34% | -110.0K | -32.9% | Reduced | 0.35% |
| 10 | SLRC SLR Investment Corp. | Financial Services | 168.0K | $2.08M | 3.96% | +168.0K | – | New | 0.31% |
| 11 | GLAD Gladstone Capital Corp | Financial Services | 105.3K | $2.04M | 3.9% | -37.6K | -26.3% | Reduced | 0.47% |
| 12 | BXMT Blackstone Mortgage Trust, Inc. | Financial Services | 106.4K | $1.80M | 3.44% | +106.4K | – | New | 0.06% |
| 13 | AOMR Angel Oak Mortgage REIT, Inc. | Financial Services | 164.4K | $1.49M | 2.84% | +27.9K | +20.5% | Added | 0.69% |
| 14 | ICMB Investcorp Credit Management BDC, Inc. | Financial Services | 28.0K | $32.76K | 0.062% | +2,614 | +10.3% | Added | 0.19% |
Tip. Select a row to see that position’s full history at North Ground Capital.
As of its Q2 2026 13F filing, North Ground Capital’s five largest positions were Carlyle Secured Lending, Inc. (CGBD) at 12.4%, Msc Income Fund, Inc. (MSIF) at 11.9%, BrightSpire Capital, Inc. (BRSP) at 11.3%, Crescent Capital BDC, Inc. (CCAP) at 10.8%, Ares Commercial Real Estate Corp (ACRE) at 10.6% of the reported portfolio.
North Ground Capital reported a 13F portfolio worth $52.49M across 14 positions for Q2 2026. That is down 12.3% from the previous quarter.
Its largest purchases by value were Carlyle Secured Lending, Inc. ($2.41M), SLR Investment Corp. ($2.08M), Crescent Capital BDC, Inc. ($1.99M). It opened 2 new positions.
Its largest sales by value were GOLUB CAPITAL BDC, Inc. ($6.06M), BlackRock TCP Capital Corp. ($3.07M), BrightSpire Capital, Inc. ($2.77M). It exited 8 positions entirely.
From the Form 13F-HR reports North Ground Capital files with the SEC each quarter, within 45 days of quarter end. A 13F lists long positions in US-listed equities and options; it excludes short positions, cash, bonds and most non-US holdings.
13F data reflects long positions in US-listed equities and options as reported to the SEC up to 45 days after quarter end. It excludes short positions, cash, bonds and most non-US securities, so it is not a complete picture of a manager’s assets.