# North Ground Capital

> North Ground Capital is an SEC-registered investment advisory firm, registered since 2024, reporting $100 million to $500 million in regulatory assets under management in its Form ADV filing dated April 30, 2026.

- CRD: 325287
- Filed as: NORTH GROUND CAPITAL
- Legal name: CF Capital LLC
- Also doing business as: NORTH GROUND CAPITAL
- Registration: SEC-registered investment adviser (status as filed: Approved)
- Filing period: October 2026
- Form ADV filing dated: April 30, 2026
- SEC record (IAPD): https://adviserinfo.sec.gov/firm/summary/325287
- AdvisorCensus page: https://advisorcensus.com/firm/north-ground-capital-325287

## Quick answers

**How is North Ground Capital compensated?**
On its Form ADV (Item 5.E, October 2026), North Ground Capital reports these compensation arrangements: a percentage of assets under its management; fixed fees (other than subscription fees); performance-based fees. The amounts are in Item 5 of its Form ADV Part 2A brochure.

**Is North Ground Capital registered with the SEC or a state?**
North Ground Capital is an SEC-registered investment advisory firm, registered since 2024. Status as filed: Approved. CRD 325287.

**How much does North Ground Capital manage?**
North Ground Capital reports $195,623,004 in regulatory assets under management in its Form ADV filing dated April 30, 2026 (100% discretionary).

**How have North Ground Capital's assets and staff changed since 2024?**
In the Form ADV data for North Ground Capital: Regulatory assets under management: $118,454,117 in the October 2024 data and $195,623,004 in the October 2026 data, up 65%. Total employees: 1 in October 2024 and 3 in October 2026. Assets under management move with markets as well as with clients coming and going.

**What types of clients does North Ground Capital serve?**
By number of clients on Form ADV Item 5.D: pooled investment vehicles (other than investment companies and business development companies) (3).

**Which custodians does North Ground Capital use?**
North Ground Capital's most recent Form ADV filing (Schedule D, Section 5.K(3)) lists BofA Securities, Inc. as a custodian holding 10% or more of its separately managed account assets.

**Does North Ground Capital report any disciplinary disclosures?**
Reports no disclosure items on Form ADV Item 11. The detail of any item is on the firm's SEC record: https://adviserinfo.sec.gov/firm/summary/325287

**What changed in North Ground Capital's recent Form ADV filings?**
In the December 2025 filing data: Regulatory assets under management went from $108,787,432 to $186,837,023 (+72%).

## From the Form ADV filing

### Compensation (Item 5.E)
- A percentage of assets under your management
- Fixed fees (other than subscription fees)
- Performance-based fees

### Custodians (Schedule D, Section 5.K(3))
- BofA Securities, Inc.

Custodians holding 10% or more of the firm's separately managed account assets, as filed on Form ADV (Schedule D, Section 5.K(3)). A custodian holds client assets; it does not endorse or supervise the firm. AdvisorCensus has no relationship with any custodian.

### Regulatory assets under management (Item 5.F)
- Total: $195,623,004
- Discretionary: $195,623,004
- Non-discretionary: $0

### Clients (Item 5.D)

| Client type | Clients | Assets |
| --- | --- | --- |
| Pooled investment vehicles (other than investment companies and business development companies) | 3 | $88,664,793 |
| Other investment advisers | Fewer than 5 | $106,958,211 |

### Advisory services (Item 5.G)
- Portfolio management for pooled investment vehicles (other than investment companies)
- Portfolio management for businesses (other than small businesses) or institutional clients

### Firm details
- Registered since: 2024 (2 years)
- Employees: 3 total, 2 performing advisory functions
- Wrap fee program participation: No
- States registered or notice-filed: MA
- Disclosures (Item 11): Reports no disclosure items on Form ADV Item 11.

### Websites listed on Form ADV (Item 1.I)
- northgroundcapital.com

## Assets and staff over time

| Data period | Regulatory assets under management | Employees | Filing dated |
| --- | --- | --- | --- |
| October 2024 | $118,454,117 | 1 | June 17, 2024 |
| October 2025 | $108,787,432 | 2 | March 28, 2025 |
| October 2026 | $195,623,004 | 3 | April 30, 2026 |

Regulatory assets under management: $118,454,117 in the October 2024 data and $195,623,004 in the October 2026 data, up 65%.
Total employees: 1 in October 2024 and 3 in October 2026.

## Changes in the filing (last 12 months)

### December 2025
- Regulatory assets under management went from $108,787,432 to $186,837,023 (+72%).

## Source

Form ADV as filed, October 2026. Values appear as filed. Cite as: AdvisorCensus. North Ground Capital (CRD 325287): Form ADV filing data as of October 2026.