SCHEDULE: Picton Mahoney Discloses 7.25% Stake in Cartesian Growth III

Picton Mahoney Asset Management has reported a 7.25% beneficial ownership stake in Cartesian Growth Corporation III's Class A ordinary shares.

Summary

• Picton Mahoney Asset Management has filed a Schedule 13G, disclosing beneficial ownership of Class A ordinary shares of Cartesian Growth Corporation III.
• The reporting person, a Canadian investment fund manager, holds 2,000,000 Class A ordinary shares.
• This ownership represents 7.25% of the issuer's Class A ordinary shares outstanding.
• The shares were acquired as of the event date of November 28, 2025.
• Picton Mahoney Asset Management holds sole voting and sole dispositive power over all 2,000,000 shares.
• The percentage of class is calculated based on 27,600,000 Class A ordinary shares outstanding as of November 14, 2025, as reported in the issuer's Form 10-Q.

Sentiment

Score: 7

Explanation: The disclosure of a significant 7.25% stake by an established investment fund manager like Picton Mahoney Asset Management is generally viewed positively by the market, as it can signal institutional confidence in the issuer's prospects, particularly for a SPAC.

Positives

• Increased institutional ownership by Picton Mahoney Asset Management, holding 7.25% of Class A ordinary shares, may signal confidence in Cartesian Growth Corporation III.
• The filing indicates a significant stake by a Canadian investment fund manager, potentially attracting further institutional interest.

Future Outlook

This filing does not contain any forward-looking statements or guidance regarding the issuer's future outlook.

Management Comments

• "After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct." (Statement by Catrina Duong, Chief Compliance Officer of Picton Mahoney Asset Management)

Industry Context

Cartesian Growth Corporation III is likely a Special Purpose Acquisition Company (SPAC), given its name and the nature of Class A ordinary shares often associated with SPACs. Institutional filings like this Schedule 13G are common for SPACs as they approach or complete a de-SPAC transaction, indicating investor interest or positioning. Picton Mahoney Asset Management's significant stake suggests a strategic investment in the SPAC's potential future business combination.

Stakeholder Impact

• Shareholders: The disclosure of a significant institutional stake may increase investor confidence and potentially influence trading activity.
• Potential Target Companies: A strong institutional shareholder base can be attractive to potential merger targets for the SPAC.

Key Dates

Recommendation

This Schedule 13G filing primarily serves as a disclosure of a significant institutional ownership stake rather than a performance report or strategic update. While the 7.25% stake by Picton Mahoney Asset Management is a positive signal of institutional confidence, it does not provide sufficient fundamental information about Cartesian Growth Corporation III's operations, financial health, or de-SPAC progress to warrant a 'buy' or 'sell' recommendation. Investors should 'hold' and await further disclosures regarding the SPAC's business combination or financial performance before making definitive investment decisions.

Keywords

Cartesian Growth Corporation III, Picton Mahoney Asset Management, Schedule 13G, Beneficial Ownership, Class A ordinary shares, Institutional Investor, SPAC, Investment Fund Manager, Equity Stake