North Ground Capital Portfolio
Invests via North Ground Capital | Managed by Jenaro Cardona-Fox
Invests via North Ground Capital
Managed by Jenaro Cardona-Fox
Automatically Tracked
Company Profile
Specialist alternative asset manager focusing on credit, structured finance and private credit strategies, North Ground Capital manages portfolios that target risk-adjusted income and capital preservation across European markets. The firm sources proprietary direct-originations and secondary positions, works with institutional investors and allocators, and positions itself as a mid-market credit specialist with emphasis on downside protection and yield generation.
Specialist alternative asset manager focusing on credit, structured finance and private credit strategies, North Ground Capital manages portfolios that target risk-adjusted income and capital preservation across European markets. The firm sources proprietary direct-originations and secondary positions, works with institutional investors and allocators, and positions itself as a mid-market credit specialist with emphasis on downside protection and yield generation.
Investment Philosophy & Strategy
Targets European mid‑market credit and structured finance opportunities with a bias toward risk‑adjusted income and capital preservation. Deploys proprietary direct originations and opportunistic secondary positions, blending conservative underwriting, covenant protection and selective use of leverage. Portfolio construction emphasizes downside protection, yield generation and relative‑value dislocation plays across private credit, ABS and specialty finance, working with institutional allocators and using active servicing and workout capabilities to preserve capital.
Targets European mid‑market credit and structured finance opportunities with a bias toward risk‑adjusted income and capital preservation. Deploys proprietary direct originations and opportunistic secondary positions, blending conservative underwriting, covenant protection and selective use of leverage. Portfolio construction emphasizes downside protection, yield generation and relative‑value dislocation plays across private credit, ABS and specialty finance, working with institutional allocators and using active servicing and workout capabilities to preserve capital.
Disclaimer: This Portfolio is derived from and computed based on publicly available data from SEC filings.
Gain and growth charts are calculated per selected timeframe:
-23.61%
Gain -0.62%
Monthly
-1.24%
Yearly
-13.95%
Drawdown
27.75%
$76.62M
Equity
Holdings
$76.62M
Investment
$89.18M
-$39.61M
Profit -$838,908.63
Realized
-$27.04M
Unrealized
-$12.56M
Dividends
$20.36M
Goals
Avg. 22.5% completed goals
Yearly
Gain > 5% 2026
Yearly
Gain < 20% 2026
Today
Compared To Yesterday
Gain
-0.62%
Profit
-$838,908.63
Win %
13%
This Week
Compared To Last Week
Gain
-0.82%
Profit
-$611,094.92
Win %
13%
This Month
Compared to last month
Gain
-2.95%
Profit
-$2.25M
Win %
13%
This Year
Compared to last year
Gain
-11.07%
Profit
-$9.23M
Win %
34%
MRP Millrose Properties Inc.
+1.49%
+$59,136 
MXF Mexico Fund, Inc.
+1.21%
+$33,405.26 
FMN Federated Hermes Premier Municipal Income Fund
+1.17%
+$1,898.16 
TYG Tortoise Energy Infrastructure Total Return Fund
+1.17%
+$20,160 
IQI Invesco Quality Municipal Income Trust
+1.12%
+$12,001.8 
NRK Nuveen New York AMT-Free Quality Municipal Income Fund
+0.59%
+$17,802.4 
BRW Saba Capital Income & Opportunities Fund
+0.51%
+$1,680 
NMZ Nuveen Municipal High Income Opportunity Fund
+0.27%
+$2,240 
GLV Clough Global Dividend and Income Fund
+0.26%
+$1,372.5 
NFJ Virtus Dividend, Interest & Premium Strategy Fund
+0.24%
+$3,128.55 FSSL
FSSL
0%
$0 
ACRE Ares Commercial Real Estate Corporation
-3.49%
-$154,000 
ICMB Investcorp Credit Management BDC, Inc.
-3.27%
-$627.2 
BCSF Bain Capital Specialty Finance Inc.
-3.15%
-$75,040 
RWAY Runway Growth Finance Corp
-3.07%
-$145,600 
OTF Blue Owl Technology Finance Corp.
-2.91%
-$76,303.43 
ECAT BlackRock ESG Capital Allocation Term Trust
-2.4%
-$9,100 
CGBD Carlyle Secured Lending, Inc.
-2.3%
-$150,920 
CCAP Crescent Capital BDC, Inc.
-2.14%
-$101,556 
BXMT Blackstone Mortgage Trust Inc
-2.09%
-$23,940 
GLAD Gladstone Capital Corporation
-2.07%
-$42,112 
BRSP BrightSpire Capital Inc.
-1.98%
-$81,900 
SLRC SLR Investment Corp.
-1.39%
-$26,880 
FSCO FS Credit Opportunities Corp.
-1.36%
-$6,272 
GLO Clough Global Opportunities Fund
-1.1%
-$43,680 
JOF Japan Smaller Capitalization Fund Inc.
-1.05%
-$1,265 
GLQ Clough Global Equity Fund
-0.67%
-$4,463.61 
JFR Nuveen Floating Rate Income Fund
-0.61%
-$10,012.55 
MSIF MSC Income Fund Inc.
-0.51%
-$32,256 
JQC Nuveen Credit Strategies Income Fund
-0.44%
-$1,498.02 
DMA Destra Multi-Alternative Fund
-0.41%
-$900 
HFRO Highland Opportunities and Income Fund
-0.32%
-$494.62 
AOMR Angel Oak Mortgage REIT Inc.
-0.28%
-$3,287.38 Events
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Dividends
Dividend Analysis
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No Data
| Trades 295 | Longs Won 114/295 38% | Profit Factor 0.15 |
| Profitability | Shorts Won 0/0 0% | Standard Deviation $441,987.92 |
| Average Win $59,367.29 | Best Trade (Oct 14) $1.7M | Sharpe Ratio -14.38 |
| Average Loss -$242,711.67 | Worst Trade (Mar 31) -$3.02M | Z-Score -3.37 (100%) |
| Commissions $0 | Avg. Trade Length 7m 3w 6d | Expectancy -$134,262.93 |
| Loss Size | 100% | 90% | 80% | 70% | 60% | 50% | 40% | 30% | 20% | 10% |
| Probability of Loss | - | - | - | - | - | - | - | - | - | - |
| Consecutive Losing Trades | 316 | 284 | 253 | 221 | 189 | 158 | 126 | 95 | 63 | 32 |
Hover over the desired column for a detailed explanation.
Returns
Overall, Monthly| Symbol | Quantity | Cost | Value | Comm. | Profit ($) | Gain (%) | Change |
|---|---|---|---|---|---|---|---|
| ACRE Ares Commercial Real Estate Corporation | 1.23M | $5.66M | $4.26M | - | -$1.41M | -24.82% | -3.492% |
| AOMR Angel Oak Mortgage REIT Inc. | 164,369 | $1.51M | $1.18M | - | -$331,250.67 | -21.87% | -0.277% |
| BCSF Bain Capital Specialty Finance Inc. | 224,000 | $3.12M | $2.31M | - | -$809,760.09 | -25.99% | -3.151% |
| BRSP BrightSpire Capital Inc. | 1.09M | $6.02M | $4.06M | - | -$1.96M | -32.62% | -1.979% |
| BRW Saba Capital Income & Opportunities Fund | 56,000 | $394,031.82 | $332,640 | - | -$61,391.82 | -15.58% | +0.508% |
| BXMT Blackstone Mortgage Trust Inc | 106,400 | $1.8M | $1.12M | - | -$680,428 | -37.73% | -2.087% |
| CCAP Crescent Capital BDC, Inc. | 520,800 | $6.75M | $4.65M | - | -$2.09M | -31.04% | -2.136% |
| CGBD Carlyle Secured Lending, Inc. | 616,000 | $7.25M | $6.42M | - | -$830,375.36 | -11.46% | -2.298% |
| DMA Destra Multi-Alternative Fund | 30,000 | $265,240.42 | $216,300 | - | -$48,940.42 | -18.45% | -0.414% |
| ECAT BlackRock ESG Capital Allocation Term Trust | 28,000 | $425,600 | $370,860 | - | -$54,740 | -12.86% | -2.395% |
| FMN Federated Hermes Premier Municipal Income Fund | 15,818 | $174,914.82 | $163,716.3 | - | -$11,198.52 | -6.4% | +1.173% |
| FSCO FS Credit Opportunities Corp. | 89,600 | $456,960 | $453,376 | - | -$3,584 | -0.78% | -1.365% |
| FSSL FSSL | 817,600 | $9.68M | $11.56M | - | $1.88M | 19.47% | 0.0 |
| GLAD Gladstone Capital Corporation | 105,280 | $1.83M | $1.99M | - | $166,342.11 | 9.11% | -2.069% |
| GLO Clough Global Opportunities Fund | 728,000 | $4.23M | $3.92M | - | -$309,710.11 | -7.33% | -1.103% |
| GLQ Clough Global Equity Fund | 89,094 | $727,577.58 | $661,959.51 | - | -$65,618.07 | -9.02% | -0.67% |
| GLV Clough Global Dividend and Income Fund | 91,500 | $561,410.44 | $530,242.5 | - | -$31,167.94 | -5.55% | +0.26% |
| HFRO Highland Opportunities and Income Fund | 24,731 | $133,494.89 | $153,826.82 | - | $20,331.93 | 15.23% | -0.321% |
| ICMB Investcorp Credit Management BDC, Inc. | 28,000 | $71,600.44 | $18,552.8 | - | -$53,047.64 | -74.09% | -3.27% |
| IQI Invesco Quality Municipal Income Trust | 120,018 | $1.18M | $1.08M | - | -$104,492.62 | -8.83% | +1.125% |
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FAQ
Which stocks have generated the highest profits for North Ground Capital?
The largest contributions to the portfolio's profits come from the following stocks: BrightSpire Capital Inc - $1.85M, BlackRock ESG Capital Allocation Term Trust - $1.73M, Millrose Properties Inc - $1.38M, Ares Commercial Real Estate Corporation - $897,559.79, and BlackRock Technology and Private Equity Fund - $880,276.05. These positions have been the main drivers of growth and have significantly impacted the investor's overall performance.
Which stocks have generated the largest losses for this investor?
The largest losses in the portfolio are associated with the following stocks: Oxford Lane Capital Corp - $4.22M, FS KKR Capital Corp - $3.43M, Cion Investment Corporation - $2.89M, XAI Octagon Floating Rate & Alternative Income Trust - $2.13M, and BlackRock TCP Capital Corp - $1.35M. These positions have had the most negative impact on overall performance and highlight the weaker areas of the portfolio.
What dividends does North Ground Capital's portfolio generate?
The portfolio generates substantial dividend income, with a total of $20.36M earned over time. The largest contributors to dividend income include Runway Growth Finance Corp - $2.19M, BlackRock ESG Capital Allocation Term Trust - $2.01M, BrightSpire Capital Inc - $1.89M, Oxford Lane Capital Corp - $1.76M, and Crescent Capital BDC, Inc - $990,652.63. This indicates that dividends play a meaningful role in the investor's overall strategy.
How stable are North Ground Capital's monthly returns?
North Ground Capital's monthly returns appear quite volatile. The gap between stronger and weaker months is meaningful, which suggests that the strategy can experience noticeable swings over relatively short periods. For users assessing this profile, that usually means returns may be attractive over time, but the path can be uneven and harder to tolerate during weaker periods.
Can North Ground Capital's strategy be considered aggressive or moderate?
North Ground Capital's strategy can be described as moderate. It balances growth potential with risk management, showing a willingness to accept some volatility while still maintaining a relatively structured and diversified approach.
Should beginners follow North Ground Capital's strategy?
North Ground Capital's strategy is probably not ideal for beginners. The combination of risk, volatility, or portfolio complexity may make it harder to follow and understand without prior experience. Users who are new to investing may find it challenging to replicate or tolerate the performance swings.
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