Pono Capital Four: Picton Mahoney reports 5.74% stake

Picton Mahoney reported sole voting and sole disposition power over its disclosed position.

Rhea-AI Filing Summary

Pono Capital Four, Inc. (PONO) is the issuer of the Class A ordinary shares for which Picton Mahoney Asset Management reported beneficial ownership of 700,000 shares, or 5.74% of the class. Picton Mahoney identified itself as an investment fund manager.

Key Figures

Beneficially owned: 700,000 shares Percent of class: 5.74% Sole voting power: 700,000 shares +3 more

6 metrics

Beneficially owned 700,000 shares Pono Capital Four Class A ordinary shares

Percent of class 5.74% Picton Mahoney Asset Management's reported beneficial ownership

Sole voting power 700,000 shares Pono Capital Four Class A ordinary shares

Sole dispositive power 700,000 shares Pono Capital Four Class A ordinary shares

Shared voting power 0 shares Pono Capital Four Class A ordinary shares

Shared dispositive power 0 shares Pono Capital Four Class A ordinary shares

Key Terms

beneficially owned, Sole Voting Power, Sole Dispositive Power

3 terms

beneficially owned financial

"Amount beneficially owned"

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.

Sole Voting Power financial

"Sole Voting Power 700,000.00"

Sole voting power is the exclusive right to cast votes attached to a shareholder’s stock without needing approval from anyone else. Like holding the only remote control for a TV, it lets that holder decide corporate matters such as board members, mergers, and policy changes, making it important to investors because it concentrates control and can strongly influence a company’s strategy and the value of its shares.

Sole Dispositive Power financial

"Sole Dispositive Power 700,000.00"

Sole dispositive power is the exclusive legal authority to decide what happens to a security — for example, whether to sell, transfer, or retain shares — without needing anyone else’s permission. Investors care because it signals who truly controls the economic outcome of an investment: like holding the only key to a safe, the holder can realize gains or losses and may trigger regulatory reporting, insider rules, or influence over corporate ownership.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

How many PONO shares did Picton Mahoney report owning?

Picton Mahoney Asset Management reported beneficial ownership of 700,000 PONO Class A ordinary shares, equal to 5.74% of the class.

What voting and disposition power did Picton Mahoney report for PONO shares?

Picton Mahoney reported sole voting power over 700,000 shares and sole power to dispose of or direct the disposition of 700,000 shares. It reported zero shared voting power and zero shared dispositive power.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Available on EDGAR 10/20/2026 - 11:57 AM EDT Accepted by SEC EDGAR 10/20/2026 - 11:57 AM EDT Learn about SEC filing dates

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

Pono Capital Four, Inc.

(Name of Issuer)

Class A Ordinary Shares

(Title of Class of Securities)

G71702107

(CUSIP Number)

09/30/2026

(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): G71702107

1

Names of Reporting Persons

Picton Mahoney Asset Management

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

CANADA (FEDERAL LEVEL)

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 700,000.00
6	Shared Voting Power 0.00
7	Sole Dispositive Power 700,000.00
8	Shared Dispositive Power 0.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

700,000.00

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)

5.74 %

12

Type of Reporting Person (See Instructions)

PN

SCHEDULE 13G

Item 1.
(a)	Name of issuer: Pono Capital Four, Inc.
(b)	Address of issuer's principal executive offices: 643 Ilalo Street, #102, Honolulu, HAWAII, 96813
Item 2.
(a)	Name of person filing: Picton Mahoney Asset Management
(b)	Address or principal business office or, if none, residence: 33 Yonge Street #320
(c)	Citizenship: CANADA
(d)	Title of class of securities: Class A Ordinary Shares
(e)	CUSIP Number(s): G71702107
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 Fund Manager
Item 4.	Ownership
(a)	Amount beneficially owned: 700000
(b)	Percent of class: 5.74 %
(c)	Number of shares as to which the person has:
	(i) Sole power to vote or to direct the vote: 700000
	(ii) Shared power to vote or to direct the vote: 0
	(iii) Sole power to dispose or to direct the disposition of: 700000
	(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.
	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 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.

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.

Picton Mahoney Asset Management

Signature:	Ahsan Ahmed
Name/Title:	Chief Compliance Officer
Date:	10/20/2026

Comments accompanying 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.