<?xml version="1.0" encoding="UTF-8"?>
<edgarSubmission xmlns="http://www.sec.gov/edgar/npx" xmlns:com="http://www.sec.gov/edgar/common">
  <headerData>
    <submissionType>N-PX</submissionType>
    <filerInfo>
      <registrantType>IM</registrantType>
      <liveTestFlag>LIVE</liveTestFlag>
      <filer>
        <issuerCredentials>
          <cik>0001534450</cik>
          <ccc>XXXXXXXX</ccc>
        </issuerCredentials>
      </filer>
      <flags>
        <overrideInternetFlag>false</overrideInternetFlag>
        <confirmingCopyFlag>false</confirmingCopyFlag>
      </flags>
      <periodOfReport>06/30/2026</periodOfReport>
    </filerInfo>
    <!--Series stuff for filer-->
  </headerData>
  <!--Start Form-->
  <formData>
    <coverPage>
      <yearOrQuarter>YEAR</yearOrQuarter>
      <reportCalendarYear>2026</reportCalendarYear>
      <!--Reporting Person-->
      <reportingPerson>
        <name>Ground Swell Capital, LLC</name>
        <phoneNumber>(843) 588-5169</phoneNumber>
        <address>
          <com:street1>PO BOX 46</com:street1>
          <com:city>FOLLY BEACH</com:city>
          <com:stateOrCountry>SC</com:stateOrCountry>
          <com:zipCode>29439</com:zipCode>
        </address>
      </reportingPerson>
      <reportInfo>
        <reportType>INSTITUTIONAL MANAGER NOTICE REPORT</reportType>
        <noticeExplanation>REPORTING PERSON HAS POLICY TO NOT VOTE</noticeExplanation>
        <confidentialTreatment>N</confidentialTreatment>
      </reportInfo>
      <fileNumber>028-16253</fileNumber>
      <reportingCrdNumber>000159812</reportingCrdNumber>
      <reportingSecFileNumber>801-73582</reportingSecFileNumber>
      <explanatoryInformation>
        <explanatoryChoice>N</explanatoryChoice>
      </explanatoryInformation>
    </coverPage>
    <!--Summary Page-->
    <summaryPage>
      <otherIncludedManagersCount>0</otherIncludedManagersCount>
    </summaryPage>
    <!--Signature-->
    <signaturePage>
      <reportingPerson>Ground Swell Capital, LLC</reportingPerson>
      <txSignature>Joey Foxhall </txSignature>
      <txPrintedSignature>Joey Foxhall </txPrintedSignature>
      <txTitle>Chief Compliance Officer </txTitle>
      <txAsOfDate>08/07/2026</txAsOfDate>
    </signaturePage>
  </formData>
</edgarSubmission>
