North Ground Capital

CIK 0002055446 · Q2 2026

13F Equity AUM

$83.4M

+0.4% QoQ

Positions

-7 QoQ

AUM Rank

#8,104

Top 92%

Skill Alpha (FF)

—

Building track record (6q)

Quarters Tracked

~1 years

Portfolio Concentration

Top 5: 40.1%Top 10: 67.7%Top 20: 92.9%

FSSL10.9%

CGBD7.8%

MSIF7.5%

BRSP7.1%

CCAP6.8%

ACRE6.7%

MRP6.5%

GLO5.3%

RWAY4.9%

NRK4.2%

Others (23)32.3%

HHI (Herfindahl-Hirschman Index) measures portfolio concentration. Low (<1500) = diversified, Moderate (1500-2500), High (>2500) = concentrated bets.

Sector Allocation

Financial Services64.9%

Real Estate24.2%

Fund10.9%

Portfolio weight by GICS sector based on latest 13F filing. Sectors below 2% are grouped as “Other.”

Position Sizing

Positions: 33Median: 2.16%Avg: 3.03%

0–0.5%

7(1.8%)

0.5–1%

4(2.7%)

1–3%

9(17.5%)

3–5%

5(19.4%)

5%+

8(58.6%)

Count of positions per weight bucket — (%) = combined portfolio weight

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Portfolio Overlap

Shared: 0Unique: 33vs 20 funds

0%Low

Fund positions

Consensus CUSIPs

Jaccard similarity of this fund’s portfolio vs the consensus of top 20 funds by AUM. Low (<15%) = contrarian, Moderate (15-40%), High (>40%) = follows the crowd.

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Position Changes This Quarter

New8Increased14Decreased11Exited15

New Positions

SLRC2.5%

+168K

TYG2.3%

+45K

BXMT2.2%

+106K

JFR2.0%

+223K

NFJ1.6%

+89K

NMZ1.1%

+90K

XJQCX0.4%

+75K

JOF0.1%

+10K

Increased

FSSL10.9%

+568K(+227%)

CGBD7.8%

+228K(+59%)

GLO5.3%

+198K(+37%)

CCAP6.8%

+182K(+54%)

ACRE6.7%

+112K(+10%)

OTF3.5%

+89K(+47%)

MSIF7.5%

+89K(+20%)

MXF3.6%

+65K(+91%)

XGLQX0.9%

+54K(+151%)

MRP6.5%

+49K(+38%)

Decreased

BRSP7.1%

-508,000(-32%)

FSCO0.5%

-435,400(-83%)

RWAY4.9%

-233,326(-24%)

BCSF3.4%

-109,982(-33%)

ECAT0.5%

-72,000(-72%)

BRW0.4%

-38,432(-41%)

GLAD2.5%

-37,616(-26%)

NRK4.2%

-30,734(-9%)

DMA0.3%

-25,059(-46%)

IQI1.5%

-10,383(-8%)

Exited

-478,894

-850,000

-113,390

-85,044

-62,639

-27,041

-49,775

-75,000

-100,000

-17,757

Quarter-over-quarter changes compared to prior 13F filing. New = first appearance; Exited = no longer held.

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Holdings

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