Karbon Capital Partners Corp. ownership disclosure: Fort Baker Capital Management LP reports beneficial ownership of 1,499,756 Class A ordinary shares, representing 5.9% of the class. The percentage was calculated using 25,622,035 shares outstanding as of March 19, 2026, per the issuer's Form 10-K. The filing states that Fort Baker Capital Management LP holds the shares with shared voting and dispositive power and that the reporting persons are filing jointly while disclaiming membership in a group and broader beneficial ownership beyond their pecuniary interest.
Positive
None.
Negative
None.
Insights
Large passive stake reported: 1.5M shares (5.9%).
Fort Baker Capital Management LP is shown as beneficial owner of 1,499,756 shares, equal to 5.9% of Class A shares using the issuer's stated outstanding count of 25,622,035 as of March 19, 2026. The filing is a standard Schedule 13G disclosure of principal ownership rather than an active acquisition filing.
Implications depend on the firm's intentions; the filing itself lists shared voting and dispositive power but includes customary disclaimers. Subsequent filings would be required if ownership or control intentions change.
Filing appears procedurally compliant with Schedule 13G rules.
The report identifies reporting persons, address, CUSIP G5225W100, and the beneficial ownership calculation tied to the issuer's Form 10-K reference. It notes joint filing and disclaims group status and broader beneficial ownership, consistent with passive-investor language found in many Schedule 13G submissions.
Material next steps would be any change in intent or crossing of reporting thresholds; such events would typically trigger different filing obligations.
Key Figures
Beneficial ownership:1,499,756 sharesPercent of class:5.9%Shares outstanding:25,622,035 shares
3 metrics
Beneficial ownership1,499,756 sharesHeld by Fort Baker Capital Management LP
Percent of class5.9%Calculated using shares outstanding as of March 19, 2026
Shares outstanding25,622,035 sharesAs of March 19, 2026 per issuer's Form 10-K
"Fort Baker Capital Management LP directly holds 1,499,756 Class A ordinary shares"
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 dispositive powerregulatory
"Shared Dispositive Power 1,499,756.00"
Schedule 13Gregulatory
"This submission is a Schedule 13G ownership disclosure"
A Schedule 13G is a formal document that investors file with the government when they acquire a large ownership stake in a company, usually for investment purposes rather than control. It helps keep the public informed about who owns significant parts of a company's shares, which can influence how the company is managed and how investors make decisions. Filing this schedule is important for transparency and understanding the ownership landscape of publicly traded companies.
What stake does Fort Baker Capital hold in Karbon Capital (KBON)?
Fort Baker Capital Management LP beneficially owns 1,499,756 shares, which the filing reports as 5.9% of the Class A ordinary shares using the issuer's outstanding share count of 25,622,035 as of March 19, 2026.
Does the filing show who controls the shares?
The filing reports shared voting and shared dispositive power for the 1,499,756 shares and names Steven Patrick Pigott as the reporting individual acting as Chief Investment Officer and limited partner.
Is this a Schedule 13G or Form 13D disclosure for KBON?
This submission is a Schedule 13G ownership disclosure, which is typically used by passive investors to report beneficial ownership without claiming active intent to influence control.
How was the 5.9% ownership percentage calculated?
The percentage was derived from the issuer's annual report on Form 10-K referenced in the filing, which stated 25,622,035 Class A shares outstanding as of March 19, 2026 and was used to compute the 5.9% figure.
Did the reporting persons claim to be part of a group?
The filing states the reporting persons are filing jointly but explicitly disclaim membership in a group, and each disclaims beneficial ownership beyond their pecuniary interest in the reported securities.
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13G
UNDER THE SECURITIES EXCHANGE ACT OF 1934
Karbon Capital Partners Corp.
(Name of Issuer)
Class A Ordinary Shares, par value $0.0001 per share
(Title of Class of Securities)
G5225W100
(CUSIP Number)
03/31/2026
(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):
G5225W100
1
Names of Reporting Persons
Fort Baker Capital Management 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
1,499,756.00
7
Sole Dispositive Power
0.00
8
Shared Dispositive Power
1,499,756.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
1,499,756.00
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)
5.9 %
12
Type of Reporting Person (See Instructions)
IA
SCHEDULE 13G
CUSIP Number(s):
G5225W100
1
Names of Reporting Persons
Steven Patrick Pigott
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
1,499,756.00
7
Sole Dispositive Power
0.00
8
Shared Dispositive Power
1,499,756.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
1,499,756.00
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)
5.9 %
12
Type of Reporting Person (See Instructions)
IN
SCHEDULE 13G
CUSIP Number(s):
G5225W100
1
Names of Reporting Persons
Fort Baker Capital, 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
1,499,756.00
7
Sole Dispositive Power
0.00
8
Shared Dispositive Power
1,499,756.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
1,499,756.00
10
Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)
Fort Baker Capital Management LP
Steven Patrick Pigott
Fort Baker Capital, LLC
(b)
Address or principal business office or, if none, residence:
The principal business address of each reporting person is 700 Larkspur Landing Circle, Suite 275, Larkspur, CA 94939.
(c)
Citizenship:
Fort Baker Capital Management LP: Delaware Limited Partnership
Steven Patrick Pigott: Citizen of the United States
Fort Baker Capital, LLC: Delaware Limited Liability Company
(d)
Title of class of securities:
Class A Ordinary Shares, par value $0.0001 per share
(e)
CUSIP Number(s):
G5225W100
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:
Reference is hereby made to Items 5-9 of this Schedule, which Items are incorporated by reference herein.
Fort Baker Capital Management LP directly holds 1,499,756 Class A ordinary shares. Steven Patrick Pigott acts as Limited Partner/Chief Investment Officer for Fort Baker Capital Management LP. Fort Baker Capital, LLC acts as General Partner for Fort Baker Capital Management LP.
The Reporting Persons are filing this Schedule 13G jointly, but not as members of a group, and each disclaims membership in a group. Each also disclaims beneficial ownership of the securities reported herein except to the extent of that person's pecuniary interest therein.
The calculation of percentage of beneficial ownership in Item 11 was derived from the Issuer's annual report on Form 10-K filed with the Securities and Exchange Commission on March 26, 2026, in which the Issuer stated that the number of Class A ordinary shares outstanding was 25,622,035 as of March 19, 2026.
(b)
Percent of class:
Fort Baker Capital Management LP: 5.9%
Steven Patrick Pigott: 5.9%
Fort Baker Capital, LLC: 5.9%
(c)
Number of shares as to which the person has:
(i) Sole power to vote or to direct the vote:
Fort Baker Capital Management LP: 0
Steven Patrick Pigott: 0
Fort Baker Capital, LLC: 0
(ii) Shared power to vote or to direct the vote:
Fort Baker Capital Management LP: 1,499,756
Steven Patrick Pigott: 1,499,756
Fort Baker Capital, LLC: 1,499,756
(iii) Sole power to dispose or to direct the disposition of:
Fort Baker Capital Management LP: 0
Steven Patrick Pigott: 0
Fort Baker Capital, LLC: 0
(iv) Shared power to dispose or to direct the disposition of:
Fort Baker Capital Management LP: 1,499,756
Steven Patrick Pigott: 1,499,756
Fort Baker Capital, LLC: 1,499,756
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.
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.
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.
