Centurion Acquisition (ALF) sees 5.04% held by HGC Investment

Rhea-AI Filing Summary

HGC Investment Management Inc., a Canadian investment fund manager, reported beneficial ownership of 1,450,000 shares of Centurion Acquisition Corp. Class A common stock. This stake represents 5.04% of the class as of the event date of 12/31/2025.

HGC files on behalf of The HGC Fund LP, which has the right to receive dividends or sale proceeds from these shares. HGC states the holdings were acquired and are held in the ordinary course of business and not for the purpose of changing or influencing control of Centurion.

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

Centurion Acquisition Corp.

(Name of Issuer)

Class A Common Stock

(Title of Class of Securities)

G20315100

(CUSIP Number)

12/31/2025

(Date of Event Which Requires Filing of this Statement)

Check the appropriate box to designate the rule pursuant to which this Schedule is filed:

Rule 13d-1(b)

Rule 13d-1(c)

Rule 13d-1(d)

SCHEDULE 13G

CUSIP No. G20315100

1

Names of Reporting Persons

HGC Investment Management Inc

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

ONTARIO, CANADA

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 1,450,000.00
6	Shared Voting Power 0.00
7	Sole Dispositive Power 1,450,000.00
8	Shared Dispositive Power 0.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

1,450,000.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

5.04 %

12

Type of Reporting Person (See Instructions)

FI

SCHEDULE 13G

Item 1.
(a)	Name of issuer: Centurion Acquisition Corp.
(b)	Address of issuer's principal executive offices: 667 Madison Avenue, 5th Floor, New York, NEW YORK 10065
Item 2.
(a)	Name of person filing: HGC Investment Management Inc This statement is filed by HGC Investment Management Inc., a company incorporated under the laws of Canada, which serves as the investment manager to The HGC Fund LP, an Ontario limited partnership (the "Fund"), with respect to the Shares (as defined below) held by the Reporting Person on behalf of the Fund. The filing of this statement should not be construed as an admission that the Reporting Person is, for the purposes of Section 13 of the Act, the beneficial owner of the Shares reported herein.
(b)	Address or principal business office or, if none, residence: 1027 Yonge St Suite 301 Toronto, ON M4W 2K9
(c)	Citizenship: Canada
(d)	Title of class of securities: Class A Common Stock
(e)	CUSIP No.: G20315100
Item 3.	If this statement is filed pursuant to §§ 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:
(a)	Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o);
(b)	Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c);
(c)	Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c);
(d)	Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8);
(e)	An investment adviser in accordance with § 240.13d-1(b)(1)(ii)(E);
(f)	An employee benefit plan or endowment fund in accordance with § 240.13d-1(b)(1)(ii)(F);
(g)	A parent holding company or control person in accordance with § 240.13d-1(b)(1)(ii)(G);
(h)	A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);
(i)	A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3);
(j)	A non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J). If filing as a non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J), please specify the type of institution:
(k)	Group, in accordance with Rule 240.13d-1(b)(1)(ii)(K).
	The Reporting Person is an investment fund manager, portfolio manager and exempt market dealer registered with the Ontario Securities Commission.
Item 4.	Ownership
(a)	Amount beneficially owned: 1450000
(b)	Percent of class: 5.04 %
(c)	Number of shares as to which the person has:
	(i) Sole power to vote or to direct the vote: 1450000
	(ii) Shared power to vote or to direct the vote: 0
	(iii) Sole power to dispose or to direct the disposition of: 1450000
	(iv) Shared power to dispose or to direct the disposition of: 0
Item 5.	Ownership of 5 Percent or Less of a Class.
	Not Applicable
Item 6.	Ownership of more than 5 Percent on Behalf of Another Person.
	If any other person is known to have the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of, such securities, a statement to that effect should be included in response to this item and, if such interest relates to more than 5 percent of the class, such person should be identified. A listing of the shareholders of an investment company registered under the Investment Company Act of 1940 or the beneficiaries of employee benefit plan, pension fund or endowment fund is not required. See Item 2. The Fund has the right to receive or the power to direct the receipt of dividends or the proceeds from the sale of more than 5% of the Shares.
Item 7.	Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person.
	Not Applicable
Item 8.	Identification and Classification of Members of the Group.
	Not Applicable
Item 9.	Notice of Dissolution of Group.
	Not Applicable

Item 10.

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 The Reporting Person is an investment fund manager, portfolio manager and exempt market dealer registered with the Ontario Securities Commission. 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.

SIGNATURE

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.

HGC Investment Management Inc

Signature:	Stuart Grant
Name/Title:	CCO/COO
Date:	02/09/2026

FAQ

Who filed the Schedule 13G related to ALF and Centurion Acquisition Corp.?

HGC Investment Management Inc. filed the Schedule 13G as the investment manager to The HGC Fund LP. HGC is a Canadian investment fund manager, portfolio manager, and exempt market dealer registered with the Ontario Securities Commission.

How many Centurion Acquisition Corp. shares does HGC beneficially own?

HGC reports beneficial ownership of 1,450,000 Centurion Acquisition Corp. Class A common shares. It holds sole voting and sole dispositive power over all 1,450,000 shares on behalf of The HGC Fund LP, according to the Schedule 13G filing.

What percentage of Centurion Acquisition Corp. does HGC’s stake represent?

HGC’s position represents 5.04% of Centurion Acquisition Corp.’s Class A common stock. This percentage is calculated based on the total class outstanding and indicates that HGC is a significant, but minority, shareholder under U.S. beneficial ownership rules.

Is HGC’s investment in Centurion intended to influence control of the company?

HGC certifies the securities were acquired and are held in the ordinary course of business. It states they were not acquired and are not held to change or influence control of Centurion, consistent with a passive Schedule 13G filing.

Who has the right to dividends and sale proceeds from HGC’s Centurion shares?

The filing states that The HGC Fund LP has the right to receive or direct the receipt of dividends and sale proceeds from more than 5% of the shares. HGC reports beneficial ownership in its role as investment manager to this fund.

What type of entity is HGC Investment Management Inc. in this filing?

HGC is described as an investment fund manager, portfolio manager and exempt market dealer registered with the Ontario Securities Commission. It files the Schedule 13G as a non‑U.S. institution under a regulatory regime comparable to similar U.S. institutions.