<SEC-DOCUMENT>0001539041-25-000031.txt : 20250806
<SEC-HEADER>0001539041-25-000031.hdr.sgml : 20250806
<ACCEPTANCE-DATETIME>20250806172122
ACCESSION NUMBER:		0001539041-25-000031
CONFORMED SUBMISSION TYPE:	SCHEDULE 13G
PUBLIC DOCUMENT COUNT:		1
FILED AS OF DATE:		20250806
DATE AS OF CHANGE:		20250806

SUBJECT COMPANY:	

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			Cartesian Growth Corp III
		CENTRAL INDEX KEY:			0002049662
		STANDARD INDUSTRIAL CLASSIFICATION:	BLANK CHECKS [6770]
		ORGANIZATION NAME:           	05 Real Estate & Construction
		EIN:				000000000
		STATE OF INCORPORATION:			E9
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		SCHEDULE 13G
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	005-95000
		FILM NUMBER:		251190729

	BUSINESS ADDRESS:	
		STREET 1:		505 FIFTH AVENUE, 15TH FLOOR
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10017
		BUSINESS PHONE:		917-294-1353

	MAIL ADDRESS:	
		STREET 1:		505 FIFTH AVENUE, 15TH FLOOR
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10017

FILED BY:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			PICTON MAHONEY ASSET MANAGEMENT
		CENTRAL INDEX KEY:			0001539041
		ORGANIZATION NAME:           	
		EIN:				000000000
		STATE OF INCORPORATION:			A6
		FISCAL YEAR END:			1031

	FILING VALUES:
		FORM TYPE:		SCHEDULE 13G

	BUSINESS ADDRESS:	
		STREET 1:		33 YONGE STREET, SUITE 320
		CITY:			TORONTO
		STATE:			A6
		ZIP:			M5E 1G4
		BUSINESS PHONE:		416-955-4108

	MAIL ADDRESS:	
		STREET 1:		33 YONGE STREET, SUITE 320
		CITY:			TORONTO
		STATE:			A6
		ZIP:			M5E 1G4
</SEC-HEADER>
<DOCUMENT>
<TYPE>SCHEDULE 13G
<SEQUENCE>1
<FILENAME>primary_doc.xml
<TEXT>
<XML>
<?xml version="1.0" encoding="UTF-8"?><edgarSubmission xmlns="http://www.sec.gov/edgar/schedule13g" xmlns:com="http://www.sec.gov/edgar/common">
    <headerData>
        <submissionType>SCHEDULE 13G</submissionType>
        <previousAccessionNumber/>
        <filerInfo>
            <filer>
                <filerCredentials>
                    <cik>0001539041</cik>
                    <ccc>XXXXXXXX</ccc>
                </filerCredentials>
            </filer>
            <liveTestFlag>LIVE</liveTestFlag>


        </filerInfo>
    </headerData>
    <formData>
        <coverPageHeader>
            <securitiesClassTitle>Class A ordinary shares, par value $0.0001 per share</securitiesClassTitle>
            <eventDateRequiresFilingThisStatement>05/30/2025</eventDateRequiresFilingThisStatement>
            <issuerInfo>
                <issuerCik>0002049662</issuerCik>
                <issuerName>CARTESIAN GROWTH CORPORATION III</issuerName>
                <issuerCusip>G19307118</issuerCusip>
                <issuerPrincipalExecutiveOfficeAddress>
                    <com:street1>505 Fifth Avenue, 15th Floor</com:street1>
                    <com:city>New York</com:city>
                    <com:stateOrCountry>NY</com:stateOrCountry>
                    <com:zipCode>10017</com:zipCode>
                </issuerPrincipalExecutiveOfficeAddress>
            </issuerInfo>
            <designateRulesPursuantThisScheduleFiled>
                <designateRulePursuantThisScheduleFiled>Rule 13d-1(b)</designateRulePursuantThisScheduleFiled>
            </designateRulesPursuantThisScheduleFiled>
        </coverPageHeader>
        <coverPageHeaderReportingPersonDetails>

            <reportingPersonName> Picton Mahoney Asset Management</reportingPersonName>
            <citizenshipOrOrganization>Z4</citizenshipOrOrganization>
            <reportingPersonBeneficiallyOwnedNumberOfShares>
                <soleVotingPower>2000000</soleVotingPower>
                <sharedVotingPower>0</sharedVotingPower>
                <soleDispositivePower>2000000</soleDispositivePower>
                <sharedDispositivePower>0</sharedDispositivePower>
            </reportingPersonBeneficiallyOwnedNumberOfShares>
            <reportingPersonBeneficiallyOwnedAggregateNumberOfShares>2000000</reportingPersonBeneficiallyOwnedAggregateNumberOfShares>
            <classPercent>7.25</classPercent>
            <typeOfReportingPerson>PN</typeOfReportingPerson>
            <comments>The Class A Ordinary Shares (the "Shares") reported herein are held in the form of units (the "Units"),each consisting of one Class A ordinary share par value $0.0001 per share and one-half of one redeemable warrant, as described in the Issuers' 8K filed with the SEC on May 12,2025.  The percentages herein are calculated based upon the Issuer's 10-Q, filed on June 17,2025 indicating that there are 27,600,000 Class A ordinary shares as of June 16,2025.</comments>
        </coverPageHeaderReportingPersonDetails>
        <items>
            <item1>
                <issuerName>CARTESIAN GROWTH CORPORATION III</issuerName>
                <issuerPrincipalExecutiveOfficeAddress>505 Fifth Avenue, 15th Floor, New York, NEW YORK, 10017</issuerPrincipalExecutiveOfficeAddress>
            </item1>
            <item2>
                <filingPersonName>Picton Mahoney Asset Management</filingPersonName>
                <principalBusinessOfficeOrResidenceAddress>33 Yonge Street, #320, Toronto, ON M5E 1G4</principalBusinessOfficeOrResidenceAddress>
                <citizenship>Canada</citizenship>
            </item2>
            <item3>
                <notApplicableFlag>N</notApplicableFlag>
                <typeOfPersonFiling>FI</typeOfPersonFiling>
                <otherTypeOfPersonFiling>Investment Fund Manager</otherTypeOfPersonFiling>
            </item3>
            <item4>
                <amountBeneficiallyOwned>2000000</amountBeneficiallyOwned>
                <classPercent>7.25</classPercent>
                <numberOfSharesPersonHas>
                    <solePowerOrDirectToVote>2000000</solePowerOrDirectToVote>
                    <sharedPowerOrDirectToVote>0</sharedPowerOrDirectToVote>
                    <solePowerOrDirectToDispose>2000000</solePowerOrDirectToDispose>
                    <sharedPowerOrDirectToDispose>0</sharedPowerOrDirectToDispose>
                </numberOfSharesPersonHas>
            </item4>
            <item5>
                <notApplicableFlag>Y</notApplicableFlag>
                <classOwnership5PercentOrLess>N</classOwnership5PercentOrLess>
            </item5>
            <item6>
                <notApplicableFlag>Y</notApplicableFlag>
            </item6>
            <item7>
                <notApplicableFlag>Y</notApplicableFlag>
            </item7>
            <item8>
                <notApplicableFlag>Y</notApplicableFlag>
            </item8>
            <item9>
                <notApplicableFlag>Y</notApplicableFlag>
            </item9>
            <item10>
                <notApplicableFlag>N</notApplicableFlag>
                <certifications>By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under ?? 240.14a-11.By signing below I certify that, to the best of my knowledge and belief, the foreign regulatory scheme applicable to Investment Fund Manager is substantially comparable to the regulatory scheme applicable to the functionally equivalent U.S. institution(s). I also undertake to furnish to the Commission staff, upon request, information that would otherwise be disclosed in a Schedule 13D.</certifications>
            </item10>
        </items>
        <signatureInformation>
            <reportingPersonName> Picton Mahoney Asset Management</reportingPersonName>
            <signatureDetails>
                <signature>Catrina Duong</signature>
                <title>Chief Compliance Officer</title>
                <date>08/06/2025</date>
            </signatureDetails>
        </signatureInformation>
        <signatureComments>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.</signatureComments>
    </formData>
</edgarSubmission>
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</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
