# EDGAR Filing Document

**Accession Number:** 0002055446
**File Stem:** 0001420506-26-000890
**Filing Date:** 2026-5
**Character Count:** 7810
**Document Hash:** 42e54c193523d1c45edc1ee129b62eb1
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001420506-26-000890.hdr.sgml**: 20260511

**ACCESSION NUMBER**: 0001420506-26-000890

**CONFORMED SUBMISSION TYPE**: 13F-HR

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20260331

**FILED AS OF DATE**: 20260511

**DATE AS OF CHANGE**: 20260511

**EFFECTIVENESS DATE**: 20260511

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** North Ground Capital
- **CENTRAL INDEX KEY:** 0002055446

**ORGANIZATION NAME:**
- **EIN:** 821885470
- **STATE OF INCORPORATION:** MA
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 13F-HR
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 028-25244
- **FILM NUMBER:** 26961285

**BUSINESS ADDRESS:**
- **STREET 1:** 87 ELM STREET, SUITE 103
- **CITY:** COHASSET
- **STATE:** MA
- **ZIP:** 02025
- **BUSINESS PHONE:** 781.923.0975

**MAIL ADDRESS:**
- **STREET 1:** 87 ELM STREET, SUITE 103
- **CITY:** COHASSET
- **STATE:** MA
- **ZIP:** 02025

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** CF Capital LLC
- **DATE OF NAME CHANGE:** 20250206

### FORM 13F COVER PAGE

**Report for the Calendar Year or Quarter Ended:** 03-31-2026

**Check here if Amendment** [ ] **Amendment Number:** 

**This Amendment (Check only one.):** [ ] is a restatement.

[ ] adds new holdings entries.

**Institutional Investment Manager Filing this Report:**

**Name:** North Ground Capital<br>**Address:** 87 Elm Street Suite 103<br>Cohasset, MA 02025

**Form 13F File Number:** 028-25244

**CRD Number (if applicable):** 000325287

**SEC File Number (if applicable):** 801-130002

The institutional investment manager filing this report and the person by whom it is signed hereby represent that the person signing the report is authorized to submit it, that all information contained herein is true, correct and complete, and that it is understood that all required items, statements, schedules, lists, and tables, are considered integral parts of this form.

**Person Signing this Report on Behalf of Reporting Manager:**

**Name:** G. Stuart Murphy<br>**Title:** COO/CCO<br>**Phone:** 781.923.0975

**Signature, Place, and Date of Signing:**

G. Stuart Murphy COO/CCO  Cohasset, MA  05-11-2026<br>[Signature]  [City, State]  [Date]

**Report Type (Check only one.):**

[x] **13F HOLDINGS REPORT.** (Check here if all holdings of this reporting manager are reported in this report.)

[ ] **13F NOTICE.** (Check here if no holdings are reported in this report, and all holdings are reported by other reporting manager(s).)

[ ] **13F COMBINATION REPORT.** (Check here if a portion of the holdings for this reporting manager are reported in this report and a portion are reported by other reporting manager(s).)

### Form 13F Summary Page

**Report Summary:**

**Number of Other Included Managers:** 0

**Form 13F Information Table Entry Total:** 40

**Form 13F Information Table Value Total:** $83011872

      (round to nearest dollar)

**List of Other Included Managers:**

Provide a numbered list of the name(s) and Form 13F file number(s) of all institutional investment managers with respect to which this report is filed, other than the manager filing this report.

[If there are no entries in this list, state “NONE” and omit the column headings and list entries.]

**NONE**

### FORM 13F INFORMATION TABLE

---

|  |  |  |  |  |  |  |  |  |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| NAME OF ISSUER | TITLE OF CLASS | CUSIP | FIGI | VALUE (x$1000) | SHRS OR PRN AMT | SH/PRN | PUT/CALL | INVESTMENT DISCRETION | OTHER MANAGER | VOTING AUTHORITY | VOTING AUTHORITY | VOTING AUTHORITY |
| NAME OF ISSUER | TITLE OF CLASS | CUSIP | FIGI | VALUE (x$1000) | SHRS OR PRN AMT | SH/PRN | PUT/CALL | INVESTMENT DISCRETION | OTHER MANAGER | SOLE | SHARED | NONE |
| ABRDN INCOME CREDIT STRATEGI | COM | 003057106 |  | 510000 | 100000 | SH |  | SOLE |  | 0 | 0 | 0 |
| ANGEL OAK MORTGAGE REIT INC | COM | 03464Y108 |  | 1121405 | 136424 | SH |  | SOLE |  | 0 | 0 | 0 |
| APOLLO COML REAL ESTATE FIN | COM | 03762U105 |  | 264000 | 25000 | SH |  | SOLE |  | 0 | 0 | 0 |
| ARES CAPITAL CORP | COM | 04010L103 |  | 319981 | 17757 | SH |  | SOLE |  | 0 | 0 | 0 |
| ARES COML REAL ESTATE CORP | COM | 04013V108 |  | 5376000 | 1120000 | SH |  | SOLE |  | 0 | 0 | 0 |
| BAIN CAP SPECIALTY FIN INC | COM STK | 05684B107 |  | 4141377 | 333982 | SH |  | SOLE |  | 0 | 0 | 0 |
| BLACKROCK ESG CAP ALLC TERM | SHS BEN INT | 09262F100 |  | 1358000 | 100000 | SH |  | SOLE |  | 0 | 0 | 0 |
| BLACKROCK TCP CAPITAL CORP | COM | 09259E108 |  | 3068500 | 850000 | SH |  | SOLE |  | 0 | 0 | 0 |
| BLACKSTONE SECD LENDING FD | COMMON STOCK | 09261X102 |  | 640601 | 27041 | SH |  | SOLE |  | 0 | 0 | 0 |
| BLUE OWL TECHNOLOGY FIN CORP | COMMON STOCK | 095924106 |  | 2337671 | 188674 | SH |  | SOLE |  | 0 | 0 | 0 |
| BRIGHTSPIRE CAPITAL INC | COM CL A | 10949T109 |  | 8960000 | 1600000 | SH |  | SOLE |  | 0 | 0 | 0 |
| CARLYLE SECURED LENDING INC | COM | 872280102 |  | 4239447 | 387518 | SH |  | SOLE |  | 0 | 0 | 0 |
| CION INVT CORP | COM | 17259U204 |  | 513000 | 75000 | SH |  | SOLE |  | 0 | 0 | 0 |
| CLOUGH GLOBAL DIVID  INCOME | COM | 18913Y103 |  | 280365 | 47359 | SH |  | SOLE |  | 0 | 0 | 0 |
| CLOUGH GLOBAL EQUITY FD | COM | 18914C100 |  | 267722 | 35554 | SH |  | SOLE |  | 0 | 0 | 0 |
| CLOUGH GLOBAL OPPORTUNITIES | SH BEN INT | 18914E106 |  | 2949432 | 529521 | SH |  | SOLE |  | 0 | 0 | 0 |
| CRESCENT CAP BDC INC | COM | 225655109 |  | 4117720 | 338907 | SH |  | SOLE |  | 0 | 0 | 0 |
| DESTRA MULTI-ALTERNATIVE FD | COMMON SHARES | 25065A502 |  | 446528 | 55059 | SH |  | SOLE |  | 0 | 0 | 0 |
| FEDERATED HERMES PREM MUNI I | COM | 31423P108 |  | 186007 | 17018 | SH |  | SOLE |  | 0 | 0 | 0 |
| FS CREDIT OPPORTUNITIES CORP | COMMON STOCK | 30290Y101 |  | 2677500 | 525000 | SH |  | SOLE |  | 0 | 0 | 0 |
| FS KKR CAP CORP | COM | 302635206 |  | 254500 | 25000 | SH |  | SOLE |  | 0 | 0 | 0 |
| FS SPECIALTY LENDING FD | COM SH BEN INT | 644323107 |  | 3127500 | 250000 | SH |  | SOLE |  | 0 | 0 | 0 |
| GLADSTONE CAP CORP | COM NEW | 376535878 |  | 2479246 | 142896 | SH |  | SOLE |  | 0 | 0 | 0 |
| GOLUB CAP BDC INC | COM | 38173M102 |  | 6062798 | 478894 | SH |  | SOLE |  | 0 | 0 | 0 |
| HIGHLAND OPPS  INCOME FD | HIGHLAND INCOME | 43010E404 |  | 126083 | 22081 | SH |  | SOLE |  | 0 | 0 | 0 |
| INVESCO PA VALUE MUN INC TR | COM | 46132K109 |  | 526122 | 49775 | SH |  | SOLE |  | 0 | 0 | 0 |
| INVESCO QUALITY MUN INCOME T | COM | 46133G107 |  | 1254458 | 130401 | SH |  | SOLE |  | 0 | 0 | 0 |
| INVESTCORP CR MGMT BDC INC | COM | 46090R104 |  | 41125 | 25386 | SH |  | SOLE |  | 0 | 0 | 0 |
| MEXICO FD INC | COM | 592835102 |  | 1493753 | 71369 | SH |  | SOLE |  | 0 | 0 | 0 |
| MILLROSE PPTYS INC | COM CL A | 601137102 |  | 3640000 | 130000 | SH |  | SOLE |  | 0 | 0 | 0 |
| MSC INCOME FUND INC | COM | 55374X208 |  | 5467833 | 448919 | SH |  | SOLE |  | 0 | 0 | 0 |
| NEW MTN FIN CORP | COM | 647551100 |  | 194000 | 25000 | SH |  | SOLE |  | 0 | 0 | 0 |
| NUVEEN AMT FREE MUN CR INC F | COM | 67071L106 |  | 1398099 | 113390 | SH |  | SOLE |  | 0 | 0 | 0 |
| NUVEEN NEW JERSEY | COM | 67069Y102 |  | 770460 | 62639 | SH |  | SOLE |  | 0 | 0 | 0 |
| NUVEEN NY AMT FREE | COM | 670656107 |  | 3618567 | 354414 | SH |  | SOLE |  | 0 | 0 | 0 |
| NUVEEN PA INVT QUALITY MUN F | COM | 670972108 |  | 1014575 | 85044 | SH |  | SOLE |  | 0 | 0 | 0 |
| OXFORD LANE CAP CORP | COM | 691543847 |  | 244500 | 25000 | SH |  | SOLE |  | 0 | 0 | 0 |
| RUNWAY GROWTH FINANCE CORP | COM | 78163D100 |  | 6604310 | 961326 | SH |  | SOLE |  | 0 | 0 | 0 |
| SABA CAPITAL INCOME  OPRNT | SHS NEW | 78518H202 |  | 636472 | 94432 | SH |  | SOLE |  | 0 | 0 | 0 |
| TOTAL RETURN SECURITIES FUND | COM | 870875101 |  | 282215 | 47591 | SH |  | SOLE |  | 0 | 0 | 0 |

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