A2Z CUST2MATE SOLUTIONS CORP. reporting persons led by Luxor Capital Group and related entities report beneficial ownership of 2,465,150 Common Shares, equal to 5.5% of the issuer's Common Shares as of March 18, 2026.
The percentage was calculated using 44,545,008 Common Shares outstanding as of February 24, 2026. The filing attributes shared voting and dispositive power across Thebes Master Fund, Qena Master Fund, Thebes GP, LCG Holdings, Luxor Capital Group, Luxor Management, Michael Conboy and Christian Leone in the amounts shown on the cover pages.
Positive
None.
Negative
None.
Insights
Major investment manager group reports a 5.5% stake in A2Z.
Luxor Capital Group and affiliated funds collectively report beneficial ownership of 2,465,150 Common Shares as of March 18, 2026, using an outstanding share base of 44,545,008 as of February 24, 2026.
This filing formally discloses shared voting and dispositive power among the listed entities and individuals; subsequent filings would show any material changes to this ownership position.
The group’s 5.5% position is reported as shared beneficial ownership across funds and management entities, with specified per-entity counts: 2,394,750 and 70,400 appearing in the cover data.
Ownership is presented with shared voting/dispositive power; any change in voting arrangements or additional acquisitions would appear in future Section filings.
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13G
UNDER THE SECURITIES EXCHANGE ACT OF 1934
A2Z CUST2MATE SOLUTIONS CORP.
(Name of Issuer)
Common Shares
(Title of Class of Securities)
002205102
(CUSIP Number)
03/18/2026
(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)
schemaVersion:
SCHEDULE 13G
CUSIP Number(s):
002205102
1
Names of Reporting Persons
Thebes Offshore Master Fund, LP
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
CAYMAN ISLANDS
Number of Shares Beneficially Owned by Each Reporting Person With:
5
Sole Voting Power
0.00
6
Shared Voting Power
2,394,750.00
7
Sole Dispositive Power
0.00
8
Shared Dispositive Power
2,394,750.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
2,394,750.00
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)
5.4 %
12
Type of Reporting Person (See Instructions)
PN
SCHEDULE 13G
CUSIP Number(s):
002205102
1
Names of Reporting Persons
Qena Capital Partners Offshore Master Fund, LP
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
CAYMAN ISLANDS
Number of Shares Beneficially Owned by Each Reporting Person With:
5
Sole Voting Power
0.00
6
Shared Voting Power
70,400.00
7
Sole Dispositive Power
0.00
8
Shared Dispositive Power
70,400.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
70,400.00
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)
0.2 %
12
Type of Reporting Person (See Instructions)
PN
SCHEDULE 13G
CUSIP Number(s):
002205102
1
Names of Reporting Persons
Thebes GP, LLC
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
DELAWARE
Number of Shares Beneficially Owned by Each Reporting Person With:
5
Sole Voting Power
0.00
6
Shared Voting Power
2,394,750.00
7
Sole Dispositive Power
0.00
8
Shared Dispositive Power
2,394,750.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
2,394,750.00
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)
5.4 %
12
Type of Reporting Person (See Instructions)
OO
SCHEDULE 13G
CUSIP Number(s):
002205102
1
Names of Reporting Persons
LCG Holdings, LLC
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
DELAWARE
Number of Shares Beneficially Owned by Each Reporting Person With:
5
Sole Voting Power
0.00
6
Shared Voting Power
70,400.00
7
Sole Dispositive Power
0.00
8
Shared Dispositive Power
70,400.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
70,400.00
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)
0.2 %
12
Type of Reporting Person (See Instructions)
OO
SCHEDULE 13G
CUSIP Number(s):
002205102
1
Names of Reporting Persons
Luxor Capital Group, LP
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
DELAWARE
Number of Shares Beneficially Owned by Each Reporting Person With:
5
Sole Voting Power
0.00
6
Shared Voting Power
2,465,150.00
7
Sole Dispositive Power
0.00
8
Shared Dispositive Power
2,465,150.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
2,465,150.00
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)
5.5 %
12
Type of Reporting Person (See Instructions)
PN
SCHEDULE 13G
CUSIP Number(s):
002205102
1
Names of Reporting Persons
Luxor Management, LLC
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
DELAWARE
Number of Shares Beneficially Owned by Each Reporting Person With:
5
Sole Voting Power
0.00
6
Shared Voting Power
2,465,150.00
7
Sole Dispositive Power
0.00
8
Shared Dispositive Power
2,465,150.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
2,465,150.00
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)
5.5 %
12
Type of Reporting Person (See Instructions)
OO
SCHEDULE 13G
CUSIP Number(s):
002205102
1
Names of Reporting Persons
Michael Conboy
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
UNITED STATES
Number of Shares Beneficially Owned by Each Reporting Person With:
5
Sole Voting Power
0.00
6
Shared Voting Power
2,394,750.00
7
Sole Dispositive Power
0.00
8
Shared Dispositive Power
2,394,750.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
2,394,750.00
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)
5.4 %
12
Type of Reporting Person (See Instructions)
IN
SCHEDULE 13G
CUSIP Number(s):
002205102
1
Names of Reporting Persons
Christian Leone
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
UNITED STATES
Number of Shares Beneficially Owned by Each Reporting Person With:
5
Sole Voting Power
0.00
6
Shared Voting Power
2,465,150.00
7
Sole Dispositive Power
0.00
8
Shared Dispositive Power
2,465,150.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
2,465,150.00
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)
5.5 %
12
Type of Reporting Person (See Instructions)
IN
SCHEDULE 13G
Item 1.
(a)
Name of issuer:
A2Z CUST2MATE SOLUTIONS CORP.
(b)
Address of issuer's principal executive offices:
1600 - 609 Granville Street Vancouver, British Columbia, Canada V7Y 1C3
Item 2.
(a)
Name of person filing:
The names and citizenships of the persons filing this statement on Schedule 13G are (collectively, the "Reporting Persons"):
Thebes Offshore Master Fund, LP ("Thebes Master Fund")
Qena Capital Partners Offshore Master Fund, LP ("Qena Master Fund")
Thebes GP, LLC ("Thebes GP")
LCG Holdings, LLC ("LCG Holdings")
Luxor Capital Group, LP ("Luxor Capital Group")
Luxor Management, LLC ("Luxor Management")
Michael Conboy ("Mr. Conboy")
Christian Leone ("Mr. Leone")
(b)
Address or principal business office or, if none, residence:
The principal business address of each of Thebes GP, LCG Holdings, Luxor Capital Group, Luxor Management, Mr. Conboy and Mr. Leone is 7 Times Square, 43rd Floor, New York, New York 10036.
The principal business address of each of Thebes Master Fund and Qena Master Fund is c/o Maples Corporate Services Limited, P.O. Box 309, Ugland House, Grand Cayman, KY1-1104, Cayman Islands.
(c)
Citizenship:
Each of Thebes Master Fund and Qena Master Fund is organized under the laws of the Cayman Islands. Each of Thebes GP, LCG Holdings, Luxor Capital Group and Luxor Management is organized under the laws of the State of Delaware. Mr. Leone and Mr. Conboy are each citizens of the United States.
(d)
Title of class of securities:
Common Shares
(e)
CUSIP Number(s):
002205102
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).
Item 4.
Ownership
(a)
Amount beneficially owned:
As of the close of business on March 18, 2026:
(i) Thebes Master Fund beneficially owned 2,394,750 Common Shares;
(ii) Qena Master Fund beneficially owned 70,400 Common Shares;
(iii) Thebes GP, as the general partner of Thebes Master Fund, may be deemed to have beneficially owned 2,394,750 Common Shares beneficially owned by Thebes Master Fund;
(iv) Mr. Conboy, as the managing member of Thebes GP, may be deemed to have beneficially owned the 2,394,750 Common Shares beneficially owned by Thebes GP;
(v) LCG Holdings, as the general partner of Qena Master Fund, may be deemed to have beneficially owned 70,400 Common Shares beneficially owned by Qena Master Fund;
(vi) Luxor Capital Group, as the investment manager of Thebes Master Fund and Qena Master Fund, may be deemed to have beneficially owned the 2,465,150 Common Shares beneficially owned by Thebes Master Fund and Qena Master Fund;
(vii) Luxor Management, as the general partner of Luxor Capital Group, may be deemed to have beneficially owned the 2,465,150 Common Shares beneficially owned by Luxor Capital Group; and
(viii) Mr. Leone, as the managing member of Luxor Management, may be deemed to have beneficially owned the 2,465,150 Common Shares beneficially owned by Luxor Management.
(b)
Percent of class:
As of the close of business on March 18, 2026, the Reporting Persons may be deemed to have beneficially owned 2,465,150 shares of the Issuer's Common Shares or 5.5% of the Issuer's Common Shares outstanding, which percentage was calculated based on 44,545,008 of the Issuer's Common Shares outstanding as of February 24, 2026, as reported in Exhibit 99.2 of the Issuer's 6-K filed with the Securities and Exchange Commission on March 5, 2026. Specifically, as of the close of business on March 18, 2026, each Reporting Person beneficially owned such percentage as reflected in Item 11 of the applicable Cover Page hereto.
(c)
Number of shares as to which the person has:
(i) Sole power to vote or to direct the vote:
See Cover Pages Items 5-9.
(ii) Shared power to vote or to direct the vote:
See Cover Pages Items 5-9.
(iii) Sole power to dispose or to direct the disposition of:
See Cover Pages Items 5-9.
(iv) Shared power to dispose or to direct the disposition of:
See Cover Pages Items 5-9.
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.
Not Applicable
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.
If a group has filed this schedule pursuant to §240.13d-1(b)(1)(ii)(K), so indicate under Item 3(k) and attach an exhibit stating the identity and Item 3 classification of each member of the group. If a group has filed this schedule pursuant to §240.13d-1(c) or §240.13d-1(d), attach an exhibit stating the identity of each member of the group.
See Exhibit A.
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 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.
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.
Thebes Offshore Master Fund, LP
Signature:
/s/ Norris Nissim
Name/Title:
Norris Nissim, General Counsel of Thebes GP, LLC, the General Partner of Thebes Offshore Master Fund, LP
Date:
03/25/2026
Qena Capital Partners Offshore Master Fund, LP
Signature:
/s/ Norris Nissim
Name/Title:
Norris Nissim, General Counsel of LCG Holdings, LLC, the General Partner Of Qena Capital Partners Offshore Master Fund, LP
Date:
03/25/2026
Thebes GP, LLC
Signature:
/s/ Norris Nissim
Name/Title:
Norris Nissim, General Counsel
Date:
03/25/2026
LCG Holdings, LLC
Signature:
/s/ Norris Nissim
Name/Title:
Norris Nissim, General Counsel
Date:
03/25/2026
Luxor Capital Group, LP
Signature:
/s/ Norris Nissim
Name/Title:
Norris Nissim, General Counsel of Luxor Management, LLC, the General Partner of Luxor Capital Group, LP
What stake did Luxor-related entities report in A2Z (AZ)?
They report beneficial ownership of 2,465,150 Common Shares, representing 5.5% of outstanding shares. This percentage uses 44,545,008 shares outstanding as of Feb 24, 2026, per the filing's cited exhibit.
Which entities are included in the reporting group for AZ?
The reporting group includes Thebes Master Fund, Qena Master Fund, Thebes GP, LCG Holdings, Luxor Capital Group, Luxor Management, and principals Michael Conboy and Christian Leone. Addresses and citizenships are listed in the filing.
As of which date is the beneficial ownership reported for AZ (AZ)?
Beneficial ownership is reported as of the close of business on March 18, 2026. The filing cites an outstanding-share base dated February 24, 2026 used to compute the percentage ownership.
How are voting and dispositive powers allocated in the AZ filing?
The filing shows shared voting and shared dispositive power for the listed reporting persons, with specific share counts (e.g., 2,394,750 and 70,400) reported on the cover pages corresponding to each entity.
Does the AZ filing indicate any change in control or activist intent?
No change-of-control or activist intent is stated in the filing; it discloses beneficial ownership levels and shared powers. The filing does not assert any proposal or intent to change governance.
