Collective Acquisition Corp. II (CAII): LMR funds disclose 8.5% equity stake and warrants

Rhea-AI Filing Summary

Collective Acquisition Corp. II has a significant shareholder group led by the LMR investment management platform. As of June 30, 2026, funds managed by the LMR Investment Managers beneficially owned 2,178,000 Class A ordinary shares, equal to 8.5% of the company’s outstanding Class A ordinary shares, based on 25,489,750 shares outstanding as of June 12, 2026.

The position is held through LMR Multi-Strategy Master Fund Limited and LMR CCSA Master Fund Ltd, each owning 1,089,000 Units, consisting of one share and one-half of a redeemable warrant. Each fund also holds warrants to purchase 544,500 additional Class A shares at an exercise price of $11.50 per share, exercisable 30 days after the completion of the initial business combination and expiring five years after that combination.

Key Figures

Beneficial ownership: 2,178,000 Class A ordinary shares Ownership percentage: 8.5% Shares outstanding: 25,489,750 Class A ordinary shares +4 more

7 metrics

Beneficial ownership 2,178,000 Class A ordinary shares Shares beneficially owned by all Reporting Persons as of June 30, 2026

Ownership percentage 8.5% Percentage of outstanding Class A ordinary shares beneficially owned as of June 30, 2026

Shares outstanding 25,489,750 Class A ordinary shares Shares outstanding as of June 12, 2026, used to calculate ownership percentage

Units per fund 1,089,000 Units Units acquired by each of LMR Master Fund and LMR CCSA Master Fund in the IPO

Warrants per fund 544,500 Class A ordinary share warrants Warrants held by each fund via Units, exercisable after the business combination

Warrant exercise price $11.50 per Class A ordinary share Exercise price of warrants held by LMR Master Fund and LMR CCSA Master Fund

Ownership per fund 4.3% Approximate percentage of outstanding Class A ordinary shares held by each fund

Key Terms

beneficially owned, shared voting power, redeemable warrant, initial business combination, +1 more

5 terms

beneficially owned financial

"The Class A Ordinary Shares beneficially owned by the Reporting Persons are directly held"

Beneficially owned describes securities or assets where a person has the economic rights and control—such as the right to receive dividends and to direct voting—even if legal title is held in another name. Think of it like having the keys and using a car that’s registered to someone else: you get the benefits and make decisions. Investors care because beneficial ownership reveals who truly controls value and voting power, affecting corporate decisions and takeover dynamics.

shared voting power financial

"each of the Reporting Persons had shared power to vote or direct the vote of 2,178,000"

Shared voting power occurs when two or more parties jointly have the right to vote or decide how a block of company shares is cast, like co-owners who must agree before moving a piece of furniture. Investors care because who controls voting rights affects board elections, major corporate decisions and takeover outcomes, and shared control can alter regulatory disclosures and the practical influence any holder has over a company’s direction and value.

redeemable warrant financial

"each Unit consisting of one Class A ordinary share and one-half of one redeemable warrant"

A redeemable warrant is a financial tool that gives its holder the right to buy shares of a company at a fixed price within a certain period. If the holder chooses to do so, the company can buy back or cancel the warrant before it expires, often to encourage investment or manage share issuance. For investors, it provides an option to potentially buy shares at a favorable price while offering some flexibility for the issuing company.

initial business combination financial

"exercisable 30 days after the completion of the Issuer's initial business combination"

An initial business combination is the deal in which a special-purpose acquisition company (SPAC) merges with or acquires an operating business to bring that business onto public markets. Think of the SPAC as an empty shell that raises money from investors, then uses that cash to buy a private company—this transaction turns the private company into a public one and often changes its ownership, valuation, and access to capital, so investors should watch for shifts in risk, future growth prospects, and shareholder rights.

Schedule 13D regulatory

"information that would otherwise be disclosed in a Schedule 13D"

A Schedule 13D is a legal document that investors file with regulators when they buy a large enough stake in a company to potentially influence its management or decisions. It provides details about the investor’s intention, ownership stake, and plans, helping other investors understand who is gaining control and what their motives might be.

FAQ

How much of Collective Acquisition Corp. II (CAII) do the LMR entities own?

As of June 30, 2026, LMR-managed funds beneficially owned 2,178,000 Class A ordinary shares of Collective Acquisition Corp. II, representing 8.5% of the outstanding Class A ordinary shares based on 25,489,750 shares outstanding.

Which LMR funds hold shares of Collective Acquisition Corp. II (CAII)?

LMR Multi-Strategy Master Fund Limited and LMR CCSA Master Fund Ltd each acquired 1,089,000 Units in the IPO. Each Unit includes one Class A ordinary share and one-half of one redeemable warrant of Collective Acquisition Corp. II.

What percentage of CAII does each LMR fund own individually?

As of June 30, 2026, the Class A ordinary shares held by each of LMR Multi-Strategy Master Fund Limited and LMR CCSA Master Fund Ltd represent approximately 4.3% of Collective Acquisition Corp. II’s outstanding Class A ordinary shares.

What warrants related to Collective Acquisition Corp. II (CAII) do LMR funds hold?

Each LMR fund holds warrants to purchase 544,500 Class A ordinary shares at an exercise price of $11.50 per share. These warrants become exercisable 30 days after completion of CAII’s initial business combination and expire five years after that completion.

Who controls the voting and investment decisions for CAII shares held by LMR funds?

The filing states that Ben Levine and Stefan Renold are ultimately in control of the investment and voting decisions of the LMR Investment Managers with respect to the securities of Collective Acquisition Corp. II held by certain funds.

What voting and dispositive powers do the LMR Reporting Persons have over CAII shares?

As of June 30, 2026, each Reporting Person had shared power to vote and dispose of 2,178,000 Class A ordinary shares of Collective Acquisition Corp. II and no sole power to vote or dispose of any such shares.

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Available on EDGAR 08/14/2026 - 09:18 AM Accepted by SEC EDGAR 08/14/2026 - 09:17 AM Learn about SEC filing dates

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

Collective Acquisition Corp. II

(Name of Issuer)

Class A ordinary shares, par value $0.0001 per share

(Title of Class of Securities)

G22741105

(CUSIP Number)

06/30/2026

(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): G22741105

1

Names of Reporting Persons

LMR Partners LLP

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 KINGDOM

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 2,178,000.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 2,178,000.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

2,178,000.00

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)

8.5 %

12

Type of Reporting Person (See Instructions)

IA, PN

SCHEDULE 13G

CUSIP Number(s): G22741105

1

Names of Reporting Persons

LMR PARTNERS Ltd

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

HONG KONG

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 2,178,000.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 2,178,000.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

2,178,000.00

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)

8.5 %

12

Type of Reporting Person (See Instructions)

CO, IA

SCHEDULE 13G

CUSIP Number(s): G22741105

1

Names of Reporting Persons

LMR Partners 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 2,178,000.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 2,178,000.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

2,178,000.00

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)

8.5 %

12

Type of Reporting Person (See Instructions)

IA, OO

SCHEDULE 13G

CUSIP Number(s): G22741105

1

Names of Reporting Persons

LMR Partners AG

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

SWITZERLAND

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 2,178,000.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 2,178,000.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

2,178,000.00

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)

8.5 %

12

Type of Reporting Person (See Instructions)

CO, IA

SCHEDULE 13G

CUSIP Number(s): G22741105

1

Names of Reporting Persons

LMR PARTNERS (DIFC) Ltd

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 ARAB EMIRATES

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 2,178,000.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 2,178,000.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

2,178,000.00

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)

8.5 %

12

Type of Reporting Person (See Instructions)

CO, IA

SCHEDULE 13G

CUSIP Number(s): G22741105

1

Names of Reporting Persons

LMR Partners (Ireland) Limited

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

IRELAND

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 2,178,000.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 2,178,000.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

2,178,000.00

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)

8.5 %

12

Type of Reporting Person (See Instructions)

CO, IA

SCHEDULE 13G

CUSIP Number(s): G22741105

1

Names of Reporting Persons

Ben Levine

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 KINGDOM

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 2,178,000.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 2,178,000.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

2,178,000.00

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)

8.5 %

12

Type of Reporting Person (See Instructions)

HC, IN

SCHEDULE 13G

CUSIP Number(s): G22741105

1

Names of Reporting Persons

Stefan Renold

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

SWITZERLAND

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 2,178,000.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 2,178,000.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

2,178,000.00

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)

8.5 %

12

Type of Reporting Person (See Instructions)

HC, IN

SCHEDULE 13G

Item 1.
(a)	Name of issuer: Collective Acquisition Corp. II
(b)	Address of issuer's principal executive offices: 1000 Brickell Avenue, Ste 715 PMB 5110, Miami, Florida, 33131
Item 2.
(a)	Name of person filing: This statement is filed by: (i) LMR Partners LLP, LMR Partners Limited, LMR Partners LLC, LMR Partners AG, LMR Partners (DIFC) Limited and LMR Partners (Ireland) Limited (collectively, the "LMR Investment Managers"), which serve as the investment managers to certain funds with respect to the Class A ordinary shares, par value $0.0001 per share ("Class A Ordinary Shares"), held by certain funds; and (ii) Ben Levine and Stefan Renold, who are ultimately in control of the investment and voting decisions of the LMR Investment Managers with respect to the securities held by certain funds. The foregoing persons are hereinafter sometimes collectively referred to as the "Reporting Persons."
(b)	Address or principal business office or, if none, residence: The address of the principal business office of each of the Reporting Persons is c/o LMR Partners LLP, 9th Floor, Devonshire House, 1 Mayfair Place, London, W1J 8AJ, United Kingdom.
(c)	Citizenship: LMR Partners LLP is a United Kingdom limited liability partnership. LMR Partners Limited is a Hong Kong corporation. LMR Partners LLC is a Delaware limited liability company. LMR Partners AG is a Swiss corporation. LMR Partners (DIFC) Limited is a United Arab Emirates corporation. LMR Partners (Ireland) Limited is a limited company incorporated in Ireland. Ben Levine is a citizen of the United Kingdom. Stefan Renold is a citizen of Switzerland.
(d)	Title of class of securities: Class A ordinary shares, par value $0.0001 per share
(e)	CUSIP Number(s): G22741105
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).
	Investment Adviser
Item 4.	Ownership
(a)	Amount beneficially owned: The information required by Items 4(a) - (c) is set forth in Rows 5 - 11 of the cover page for each of the Reporting Persons and is incorporated herein by reference. As of June 30, 2026: The Class A Ordinary Shares beneficially owned by the Reporting Persons are directly held by LMR Multi-Strategy Master Fund Limited ("LMR Master Fund") and LMR CCSA Master Fund Ltd ("LMR CCSA Master Fund"). Each of LMR Master Fund and LMR CCSA Master Fund acquired 1,089,000 units of the Issuer's securities ("Units") in the Issuer's initial public offering, with each Unit consisting of one Class A ordinary share and one-half of one redeemable warrant. By virtue of holding the Units, each of LMR Master Fund and LMR CCSA Master Fund directly holds 1,089,000 Class A Ordinary Shares, with a total of 2,178,000 Class A Ordinary Shares in the aggregate (the "LMR Shares"). In addition to the LMR Shares, by virtue of holding the Units, each of LMR Master Fund and LMR CCSA Master Fund also directly holds warrants to purchase 544,500 Class A Ordinary Shares ("Warrants"). The Warrants have an exercise price of $11.50 per Class A Ordinary Share and are exercisable 30 days after the completion of the Issuer's initial business combination, and will expire five years after the completion of the Issuer's initial business combination or earlier upon redemption or the Issuer's liquidation.
(b)	Percent of class: As of June 30, 2026: The Class A Ordinary Shares held by each of LMR Master Fund and LMR CCSA Master Fund represent approximately 4.3% and the LMR Shares in the aggregate represent approximately 8.5% of the outstanding Class A Ordinary Shares, based on 25,489,750 Class A Ordinary Shares of the Issuer outstanding as of June 12, 2026, as reported in the Issuer's Form 8-K filed with the Securities and Exchange Commission on June 17, 2026.
(c)	Number of shares as to which the person has:
	(i) Sole power to vote or to direct the vote: As of June 30, 2026, each of the Reporting Persons had sole power to vote or direct the vote of 0 Class A Ordinary Shares.
	(ii) Shared power to vote or to direct the vote: As of June 30, 2026, each of the Reporting Persons had shared power to vote or direct the vote of 2,178,000 Class A Ordinary Shares.
	(iii) Sole power to dispose or to direct the disposition of: As of June 30, 2026, each of the Reporting Persons had sole power to dispose or to direct the disposition of 0 Class A Ordinary Shares.
	(iv) Shared power to dispose or to direct the disposition of: As of June 30, 2026, each of the Reporting Persons had shared power to dispose or to direct the disposition of 2,178,000 Class A Ordinary Shares.
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. The securities beneficially owned by the Reporting Persons are directly held by LMR Master Fund and LMR CCSA Master Fund, for which the LMR Investment Managers serve as the investment managers.
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 LMR Partners LLP, LMR Partners Limited, LMR Partners AG, LMR Partners (DIFC) Limited and LMR Partners (Ireland) Limited 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.

LMR Partners LLP

Signature:	Shane Cullinane
Name/Title:	Chief Operating Officer
Date:	08/14/2026

LMR PARTNERS Ltd

Signature:	Shane Cullinane
Name/Title:	Chief Operating Officer
Date:	08/14/2026

LMR Partners LLC

Signature:	Allyson Hanlon
Name/Title:	Deputy General Counsel
Date:	08/14/2026

LMR Partners AG

Signature:	Shane Cullinane
Name/Title:	Chief Operating Officer
Date:	08/14/2026

LMR PARTNERS (DIFC) Ltd

Signature:	Shane Cullinane
Name/Title:	Chief Operating Officer
Date:	08/14/2026

LMR Partners (Ireland) Limited

Signature:	Shane Cullinane
Name/Title:	Chief Operating Officer
Date:	08/14/2026

Ben Levine

Signature:	Ben Levine
Name/Title:	Self
Date:	08/14/2026

Stefan Renold

Signature:	Stefan Renold
Name/Title:	Self
Date:	08/14/2026