North Ground Capital
North Ground Capital reported 33 US-listed holdings worth $83.4 million in its 13F for the quarter ended 30 June 2026, filed 13 August 2026. Its largest: FS Specialty Lending Fund Fssl (10.9%), Carlyle Secured Lending Inc. (7.8%) and MSC Income Fund Inc. (7.5%). Against the quarter before, it opened 8 positions, added to 14, trimmed 11 and sold out of 15.
Filed before as CF Capital LLC.
The 14 largest of its 33 positions, each sized by its share of the reported holdings, coloured by the change in shares against Q1 2026.
What the fund reported holding at each quarter's end; hover a bar for the number of positions
What its reported holdings returned
Held through each quarter, the holdings it reported returned -6.1% over the 6 quarters to 30 June 2026, against +27.4% for the S&P 500.
Not the fund's own return: each 13F's holdings are kept unchanged until the next one, so trades inside a quarter, dividends, cash and fees are left out. A rough guide to how its picks have done over time.
What it did on the quarter
Its positions against its 13F for the quarter to 31 March 2026; a change under 0.1% of a position counts as held
Opened 8
- SLR Investment Corp. SLRC$2.1 million
- Tortoise Energy Infra Corp. TYG$1.9 million
- Blackstone MTG Trust Inc. BXMT$1.8 million
- Nuveen Floating Rate Income JFR$1.7 million
- Virtus Dividend Interest & P NFJ$1.4 million
- Nuveen Mun High Income Opportu Com NMZ$947,072
- Nuveen CR Strategies Income JQC$364,019
- Japan Smaller Capitalization JOF$117,800
Added to 14
- FS Specialty Lending Fund Fssl FSSL+567,600 shares · +227%
- Carlyle Secured Lending Inc. CGBD+228,482 shares · +59%
- Crescent Cap BDC Inc. CCAP+181,893 shares · +54%
- Millrose Properties, Inc. MRP+49,200 shares · +38%
- Mexico FD Inc. MXF+64,979 shares · +91%
- Clough Global Opportunities GLO+198,479 shares · +37%
- MSC Income Fund Inc. MSIF+88,681 shares · +20%
- Blue Owl Technology Finance Corp. OTF+88,793 shares · +47%
and 6 more in the table below
Trimmed 11
- Brightspire Capital Inc. BRSP-508,000 shares · -32%
- FS Credit Opportunities Corp. FSCO-435,400 shares · -83%
- Bain Cap Specialty Fin Inc. BCSF-109,982 shares · -33%
- Runway Growth Finance Corp. RWAY-233,326 shares · -24%
- BlackRock ESG Capital Allocati ECAT-72,000 shares · -72%
- Gladstone Capital Corp. GLAD-37,616 shares · -26%
- Nuveen New York Amt QLT Municp Com NRK-30,734 shares · -9%
- Saba Capital Management LP BRW-38,432 shares · -41%
and 3 more in the table below
Sold out of 15
- Golub Cap BDC Inc. GBDC$6.1 million last quarter
- BlackRock TCP Capital Corp. TCPC$3.1 million last quarter
- Nuveen Amt Free Mun CR Inc. F NVG$1.4 million last quarter
- Nuveen Closed-End Funds NQP$1.0 million last quarter
- Nuveen New Jersey Qult Mun F NXJ$770,460 last quarter
- Blackstone Secd Lending FD BXSL$640,601 last quarter
- Invesco Pa Value Mun Inc. Trust VPV$526,122 last quarter
- Cion Invt Corp. CION$513,000 last quarter
What it holds
| Company | Shares | Value | Of its book | Change in shares |
|---|---|---|---|---|
| FS Specialty Lending Fund Fssl FSSL | 817.6K | $9.1 million | 10.94% | +567.6K |
| Carlyle Secured Lending Inc. CGBD | 616.0K | $6.5 million | 7.78% | +228.5K |
| MSC Income Fund Inc. MSIF | 537.6K | $6.2 million | 7.46% | +88.7K |
| Brightspire Capital Inc. BRSP | 1.1M | $6.0 million | 7.14% | -508.0K |
| Crescent Cap BDC Inc. CCAP | 520.8K | $5.7 million | 6.82% | +181.9K |
| Ares Coml Real Estate Corp. ACRE | 1.2M | $5.5 million | 6.65% | +112.0K |
| Millrose Properties, Inc. MRP | 179.2K | $5.4 million | 6.46% | +49.2K |
| Clough Global Opportunities GLO | 728.0K | $4.5 million | 5.35% | +198.5K |
| Runway Growth Finance Corp. RWAY | 728.0K | $4.1 million | 4.90% | -233.3K |
| Nuveen New York Amt QLT Municp Com NRK | 323.7K | $3.5 million | 4.16% | -30.7K |
| Mexico FD Inc. MXF | 136.3K | $3.0 million | 3.58% | +65.0K |
| Blue Owl Technology Finance Corp. OTF | 277.5K | $2.9 million | 3.45% | +88.8K |
| Bain Cap Specialty Fin Inc. BCSF | 224.0K | $2.8 million | 3.36% | -110.0K |
| SLR Investment Corp. SLRC | 168.0K | $2.1 million | 2.49% | new |
| Gladstone Capital Corp. GLAD | 105.3K | $2.0 million | 2.45% | -37.6K |
| Tortoise Energy Infra Corp. TYG | 44.8K | $1.9 million | 2.30% | new |
| Blackstone MTG Trust Inc. BXMT | 106.4K | $1.8 million | 2.16% | new |
| Nuveen Floating Rate Income JFR | 222.5K | $1.7 million | 2.05% | new |
| Angel Oak Mortgage REIT Inc. AOMR | 164.4K | $1.5 million | 1.79% | +27.9K |
| Virtus Dividend Interest & P NFJ | 89.4K | $1.4 million | 1.63% | new |
| Invesco Quality Mun Income T IQI | 120.0K | $1.2 million | 1.46% | -10.4K |
| Nuveen Mun High Income Opportu Com NMZ | 89.6K | $947,072 | 1.14% | new |
| Clough Global Equity FD GLQ | 89.1K | $767,990 | 0.92% | +53.5K |
| Clough Global Divid & Income GLV | 91.5K | $607,560 | 0.73% | +44.1K |
| FS Credit Opportunities Corp. FSCO | 89.6K | $447,104 | 0.54% | -435.4K |
| BlackRock ESG Capital Allocati ECAT | 28.0K | $440,160 | 0.53% | -72.0K |
| Saba Capital Management LP BRW | 56.0K | $367,920 | 0.44% | -38.4K |
| Nuveen CR Strategies Income JQC | 74.9K | $364,019 | 0.44% | new |
| Destra Multi-Alternative FD DMA | 30.0K | $224,400 | 0.27% | -25.1K |
| Federated Hermes Prem Muni I FMN | 15.8K | $181,749 | 0.22% | -1.2K |
| Highland Opportunities HFRO | 24.7K | $176,332 | 0.21% | +2.6K |
| Japan Smaller Capitalization JOF | 10.0K | $117,800 | 0.14% | new |
| Investcorp CR Mgmt BDC Inc. ICMB | 28.0K | $32,760 | 0.04% | +2.6K |