Cartesian Growth IV (CGCF)
Market Price (10/29/2026): $9.81 | Market Cap: $269.8 MilSector: Financials | Industry: Multi-Sector Holdings
Cartesian Growth IV (CGCF)
Market Price (10/29/2026): $9.81Market Cap: $269.8 MilSector: FinancialsIndustry: Multi-Sector Holdings
Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.
Low stock price volatilityVol 12M is 3.8% | Trading close to highsDist 52W High is -1.7%, Dist 3Y High is -1.7% Weak multi-year price returns2Y Excs Rtn is -35%, 3Y Excs Rtn is -85% | Key risksCGCF key risks include [1] its potential failure to complete an initial business combination within the required timeframe, Show more. |
| Low stock price volatilityVol 12M is 3.8% |
| Trading close to highsDist 52W High is -1.7%, Dist 3Y High is -1.7% |
| Weak multi-year price returns2Y Excs Rtn is -35%, 3Y Excs Rtn is -85% |
| Key risksCGCF key risks include [1] its potential failure to complete an initial business combination within the required timeframe, Show more. |
Qualitative Assessment
AI Analysis | Feedback
Cartesian Growth IV (CGCF) stock has remained largely at the same level since it went public on 8/17/2026 because of the following key factors:
1. Status as a pre-merger Special Purpose Acquisition Company (SPAC). Cartesian Growth IV (CGCF) operates as a "blank check company" with the sole purpose of identifying and merging with an existing private business, but as of October 5, 2026, it has not announced a definitive business combination target. SPACs like CGCF typically trade close to their initial public offering (IPO) price, which was $10 per unit, until a merger agreement is revealed, thereby limiting significant price fluctuations during this pre-deal phase.
2. Safeguarding of IPO proceeds in a trust account. A significant portion of the capital raised from CGCF's $275 million IPO is held in a trust account, with approximately $275,054,127 reported as of June 30, 2026. These funds are legally restricted from withdrawal until a business combination is completed or shareholders choose to redeem their shares. This structure offers downside protection, as investors can redeem their shares for a pro-rata portion of the trust, effectively establishing a price floor near the $10 IPO price during the period since its public trading commenced on August 17, 2026.
Show more
Cartesian Growth IV (CGCF) stock has remained largely at the same level since it went public on 8/17/2026 because of the following key factors:
1. Status as a pre-merger Special Purpose Acquisition Company (SPAC). Cartesian Growth IV (CGCF) operates as a "blank check company" with the sole purpose of identifying and merging with an existing private business, but as of October 5, 2026, it has not announced a definitive business combination target. SPACs like CGCF typically trade close to their initial public offering (IPO) price, which was $10 per unit, until a merger agreement is revealed, thereby limiting significant price fluctuations during this pre-deal phase.
2. Safeguarding of IPO proceeds in a trust account. A significant portion of the capital raised from CGCF's $275 million IPO is held in a trust account, with approximately $275,054,127 reported as of June 30, 2026. These funds are legally restricted from withdrawal until a business combination is completed or shareholders choose to redeem their shares. This structure offers downside protection, as investors can redeem their shares for a pro-rata portion of the trust, effectively establishing a price floor near the $10 IPO price during the period since its public trading commenced on August 17, 2026.
3. Lack of operational revenue and company-specific news. As a shell company, Cartesian Growth IV has no existing operations, products, or services, and has not generated any revenue since its incorporation. In the absence of an announced merger target, quarterly earnings reports, or other significant operational developments, there have been no fundamental company-specific catalysts to induce substantial price movement in its stock since it began trading publicly on August 17, 2026.
Show less
Stock Movement Drivers
Fundamental Drivers
nullnull
Market Drivers
6/30/2026 to 10/28/2026| Return | Correlation | |
|---|---|---|
| CGCF | ||
| Market (SPY) | 3.4% | 15.1% |
| Sector (XLF) | 4.7% | -2.0% |
Fundamental Drivers
nullnull
Market Drivers
3/31/2026 to 10/28/2026| Return | Correlation | |
|---|---|---|
| CGCF | ||
| Market (SPY) | 19.1% | 15.1% |
| Sector (XLF) | 14.1% | -2.0% |
Fundamental Drivers
nullnull
Market Drivers
9/30/2025 to 10/28/2026| Return | Correlation | |
|---|---|---|
| CGCF | ||
| Market (SPY) | 16.9% | 15.1% |
| Sector (XLF) | 5.5% | -2.0% |
Fundamental Drivers
nullnull
Market Drivers
9/30/2023 to 10/28/2026| Return | Correlation | |
|---|---|---|
| CGCF | ||
| Market (SPY) | 86.9% | 15.1% |
| Sector (XLF) | 76.6% | -2.0% |
Price Returns Compared
| 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Total [1] | |
|---|---|---|---|---|---|---|---|
| Returns | |||||||
| CGCF Return | - | - | - | - | - | -2% | -2% |
| Peers Return | 0% | 2% | -6% | 0% | 0% | 120% | 111% |
| S&P 500 Return | 27% | -19% | 24% | 23% | 16% | 13% | 106% |
Monthly Win Rates [3] | |||||||
| CGCF Win Rate | - | - | - | - | - | 0% | |
| Peers Win Rate | 50% | 38% | 42% | 0% | 0% | 3% | |
| S&P 500 Win Rate | 75% | 42% | 67% | 75% | 67% | 50% | |
Max Drawdowns [4] | |||||||
| CGCF Max Drawdown | - | - | - | - | - | - | |
| Peers Max Drawdown | 0% | -0% | -9% | 0% | 0% | -1% | |
| S&P 500 Max Drawdown | -5% | -25% | -10% | -8% | -19% | -9% | |
[1] Cumulative total returns since the beginning of 2021
[2] Peers: AVAC, CSCM, FLSC, IPHX, JONE.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2026 data is for the year up to 10/28/2026 (YTD)
How Low Can It Go
CGCF has limited trading history. Below is the Financials sector ETF (XLF) in its place.
| Event | XLF | S&P 500 |
|---|---|---|
| 2025 US Tariff Shock | ||
| % Loss | -15.5% | -18.8% |
| % Gain to Breakeven | 18.4% | 23.1% |
| Time to Breakeven | 80 days | 79 days |
| Summer-Fall 2023 Five Percent Yield Shock | ||
| % Loss | -10.7% | -9.5% |
| % Gain to Breakeven | 12.0% | 10.5% |
| Time to Breakeven | 26 days | 24 days |
| 2023 SVB Regional Banking Crisis | ||
| % Loss | -16.1% | -6.7% |
| % Gain to Breakeven | 19.1% | 7.1% |
| Time to Breakeven | 270 days | 31 days |
| 2022 Inflation Shock & Fed Tightening | ||
| % Loss | -22.3% | -24.5% |
| % Gain to Breakeven | 28.6% | 32.4% |
| Time to Breakeven | 467 days | 427 days |
| 2020 COVID-19 Crash | ||
| % Loss | -42.8% | -33.7% |
| % Gain to Breakeven | 74.8% | 50.9% |
| Time to Breakeven | 289 days | 140 days |
| Q4 2018 Fed Policy Error / Growth Scare | ||
| % Loss | -19.7% | -19.2% |
| % Gain to Breakeven | 24.5% | 23.8% |
| Time to Breakeven | 123 days | 105 days |
In The Past
State Street Financial Select Sector SPDR ETF's stock fell -15.5% during the 2025 US Tariff Shock. Such a loss loss requires a 18.4% gain to breakeven.
Preserve Wealth
Limiting losses and compounding gains is essential to preserving wealth.
Asset Allocation
Actively managed asset allocation strategies protect wealth. Learn more.
CGCF has limited trading history. Below is the Financials sector ETF (XLF) in its place.
| Event | XLF | S&P 500 |
|---|---|---|
| 2022 Inflation Shock & Fed Tightening | ||
| % Loss | -22.3% | -24.5% |
| % Gain to Breakeven | 28.6% | 32.4% |
| Time to Breakeven | 467 days | 427 days |
| 2020 COVID-19 Crash | ||
| % Loss | -42.8% | -33.7% |
| % Gain to Breakeven | 74.8% | 50.9% |
| Time to Breakeven | 289 days | 140 days |
| 2015-2016 China Devaluation / Global Growth Scare | ||
| % Loss | -21.4% | -12.2% |
| % Gain to Breakeven | 27.3% | 13.9% |
| Time to Breakeven | 272 days | 62 days |
| 2011 US Debt Ceiling Crisis & European Contagion | ||
| % Loss | -26.1% | -17.9% |
| % Gain to Breakeven | 35.3% | 21.8% |
| Time to Breakeven | 162 days | 123 days |
| 2008-2009 Global Financial Crisis | ||
| % Loss | -78.3% | -53.4% |
| % Gain to Breakeven | 359.8% | 114.4% |
| Time to Breakeven | 2329 days | 1085 days |
In The Past
State Street Financial Select Sector SPDR ETF's stock fell -15.5% during the 2025 US Tariff Shock. Such a loss loss requires a 18.4% gain to breakeven.
Preserve Wealth
Limiting losses and compounding gains is essential to preserving wealth.
Asset Allocation
Actively managed asset allocation strategies protect wealth. Learn more.
About Cartesian Growth IV (CGCF)
Cartesian Growth IV (CGCF) is a Special Purpose Acquisition Company (SPAC), often referred to as a "blank check company." Its primary business is to identify, acquire, and merge with an existing private operating business, which is referred to as its initial business combination. Currently, CGCF does not have any operations, products, or services of its own and has not generated any revenue since its incorporation.
The company intends to focus on acquiring high-growth businesses, particularly those with proven or potential transnational operations or outlooks. CGCF plans to utilize the experience, reputation, and network of its management team to identify a suitable target that aligns with its goal of driving ongoing value creation after the acquisition is completed. While no specific target has been selected yet, the company's market and objective revolve around successfully executing this merger to bring a private company public.
AI Analysis | Feedback
1. Imagine an empty Berkshire Hathaway (Warren Buffett's company) that's currently searching to acquire its first operating business to bring to the public market.
2. Think of it as a publicly traded private equity firm whose primary goal is to find and acquire a private company to bring to the stock market.
AI Analysis | Feedback
- Business Combination Facilitation: The company's primary purpose is to identify and complete a merger, acquisition, or similar business combination with one or more private operating businesses.
AI Analysis | Feedback
Cartesian Growth IV (symbol: CGCF) is a blank check company (Special Purpose Acquisition Company or SPAC). According to the provided description, it was formed for the purpose of effecting a business combination with one or more businesses or entities. The company has not selected any business combination target, has conducted no operations, and has generated no revenues to date.
Therefore, Cartesian Growth IV currently has no major customers, nor does it sell primarily to other companies or individuals, as it has not yet begun its operating business activities.
```AI Analysis | Feedback
AI Analysis | Feedback
Peter Michael Yu
Chairman and Chief Executive Officer
Peter Yu has served as the Chairman and Chief Executive Officer of Cartesian Growth Corporation IV since its inception in February 2026. He is the founder and a Managing Partner of Cartesian Capital Group, LLC, a global private equity firm that has managed over $3 billion in committed capital since 2006. Prior to forming Cartesian, Mr. Yu founded and served as the President and Chief Executive Officer of AIG Capital Partners (AIGCP), building it into a leading international private equity firm with over $4.5 billion in committed capital. At Cartesian, he has led more than 20 investments in companies operating in over 30 countries. He has a strong pattern of managing companies backed by private equity firms through his leadership roles at both AIGCP and Cartesian Capital Group. Mr. Yu previously served President Bill Clinton as Director to the National Economic Council. He is a graduate of Harvard Law School, where he served as President of the Harvard Law Review, and Princeton University's Woodrow Wilson School. Mr. Yu has also served as CEO and Chairman for Cartesian Growth Corporation I, II, and III.
Nam Trinh
CFO and Director
Nam Trinh serves as the CFO and a Director of Cartesian Growth Corporation IV. He is also a Managing Director at Cartesian. Mr. Trinh currently serves on the board of directors of Simba Sleep Limited. He has previously held the position of Chief Financial Officer for PolyNatura Corp., Simba Sleep Canada Limited, and Aqua Comms DAC. Before joining Cartesian, Mr. Trinh worked as an associate at a Wall Street investment bank and in the audit practice at Deloitte.
Beth Michelson
Senior Managing Director
Beth Michelson is a Senior Managing Director at Cartesian, where she has been responsible for numerous investments in sectors such as digital infrastructure, specialized manufacturing and distribution, and telecommunications services. Prior to the formation of Cartesian, Ms. Michelson served as Vice President at an affiliate of AIG Capital Partners (AIGCP), leading global investments in media and telecommunications. She has also served as the Chief Financial Officer of Cartesian Growth Corporation II.
Gregory Armstrong
Senior Managing Director
Gregory Armstrong is a Senior Managing Director at Cartesian. In his role, he has led various investments in the food service, retail, energy, and infrastructure industries. Prior to joining Cartesian, Mr. Armstrong was an associate at AIG Capital Partners (AIGCP), where he was involved in investments related to natural resources, business services, and telecommunications.
Paul Hong
Senior Managing Director
Paul Hong is a Senior Managing Director at Cartesian, where he has led numerous investments in logistics, maritime services, basic industries, and financial services. Before joining Cartesian, Mr. Hong served as Senior Vice President and General Counsel of AIG Capital Partners (AIGCP), participating in a significant portion of the firm's investments. Earlier in his career, he practiced law, specializing in private equity transactions at Kirkland & Ellis LLP.
AI Analysis | Feedback
- Inability to complete an initial business combination: Cartesian Growth IV is a blank check company formed solely for the purpose of effecting a business combination. It has no operations and generates no revenues until such a combination is consummated. A significant risk is its potential inability to identify, negotiate, and successfully complete a merger, amalgamation, share exchange, asset acquisition, share purchase, reorganization, or similar business combination with one or more businesses or entities. This risk is amplified as the company has not yet selected any business combination target nor initiated any substantive discussions with potential targets. Should the company fail to complete a business combination within its stipulated timeframe, it would likely be forced to liquidate, potentially leading to losses for investors.
AI Analysis | Feedback
AI Analysis | Feedback
AI Analysis | Feedback
AI Analysis | Feedback
Research & Analysis
Invest in Strategies
Wealth Management
Peer Comparisons
| Peers to compare with: |
Financials
| Median | |
|---|---|
| Name | |
| Mkt Price | 9.81 |
| Mkt Cap | 0.1 |
| Rev LTM | - |
| Op Inc LTM | - |
| FCF LTM | - |
| FCF 3Y Avg | - |
| CFO LTM | - |
| CFO 3Y Avg | - |
Growth & Margins
| Median | |
|---|---|
| Name | |
| Rev Chg LTM | - |
| Rev Chg 3Y Avg | - |
| Rev Chg Q | - |
| QoQ Delta Rev Chg LTM | - |
| Op Inc Chg LTM | - |
| Op Inc Chg 3Y Avg | - |
| Op Mgn LTM | - |
| Op Mgn 3Y Avg | - |
| QoQ Delta Op Mgn LTM | - |
| CFO/Rev LTM | - |
| CFO/Rev 3Y Avg | - |
| FCF/Rev LTM | - |
| FCF/Rev 3Y Avg | - |
Price Behavior
| Market Price | $9.80 | |
| Market Cap ($ Bil) | 0.1 | |
| First Trading Date | 08/17/2026 | |
| Distance from 52W High | -1.7% | |
| 50 Days | 200 Days | |
| DMA Price | $9.82 | |
| DMA Trend | ||
| Distance from DMA | -0.2% | |
| 3M | 1YR | |
| Volatility | 3.8% | 3.8% |
| Downside Capture | ||
| Upside Capture | ||
| Correlation (S&P 500) |
| 1M | 2M | 3M | 6M | 1Y | 3Y | |
|---|---|---|---|---|---|---|
| Beta | -0.01 | -0.18 | 0.03 | -0.06 | -0.05 | -0.01 |
| Up Beta | -0.03 | 0.27 | 0.09 | -0.14 | -0.12 | 0.09 |
| Down Beta | -0.09 | -0.32 | -0.21 | -0.07 | -0.18 | -0.11 |
| Up Capture | -2% | 2% | 1% | 0% | 0% | 0% |
| Bmk +ve Days | 6 | 16 | 27 | 66 | 132 | 424 |
| Stock +ve Days | 3 | 5 | 5 | 5 | 5 | 5 |
| Down Capture | 3% | 20% | 12% | 7% | 4% | 2% |
| Bmk -ve Days | 16 | 26 | 37 | 60 | 120 | 328 |
| Stock -ve Days | 6 | 10 | 10 | 10 | 10 | 10 |
[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
Based On 1-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with CGCF | |
|---|---|---|---|---|
| CGCF | -1.5% | 5.1% | -3.53 | - |
| Sector ETF (XLF) | 6.6% | 14.5% | 0.20 | -10.4% |
| Equity (SPY) | 13.7% | 12.7% | 0.72 | 18.8% |
| Gold (GLD) | 1.8% | 28.3% | 0.05 | 28.1% |
| Commodities (DBC) | 48.4% | 20.6% | 1.80 | 14.4% |
| Real Estate (VNQ) | 2.8% | 13.9% | -0.05 | -3.0% |
| Bitcoin (BTCUSD) | -29.4% | 43.4% | -0.68 | 14.1% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 5-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with CGCF | |
|---|---|---|---|---|
| CGCF | -0.3% | 5.1% | -3.53 | - |
| Sector ETF (XLF) | 8.7% | 18.3% | 0.34 | -10.4% |
| Equity (SPY) | 12.7% | 17.1% | 0.56 | 18.8% |
| Gold (GLD) | 17.5% | 18.9% | 0.74 | 28.1% |
| Commodities (DBC) | 9.1% | 19.5% | 0.35 | 14.4% |
| Real Estate (VNQ) | 0.6% | 18.9% | -0.08 | -3.0% |
| Bitcoin (BTCUSD) | 4.1% | 51.6% | 0.26 | 14.1% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 10-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with CGCF | |
|---|---|---|---|---|
| CGCF | -0.1% | 5.1% | -3.53 | - |
| Sector ETF (XLF) | 13.2% | 22.1% | 0.54 | -10.4% |
| Equity (SPY) | 15.5% | 17.9% | 0.73 | 18.8% |
| Gold (GLD) | 12.0% | 16.4% | 0.60 | 28.1% |
| Commodities (DBC) | 8.2% | 18.1% | 0.37 | 14.4% |
| Real Estate (VNQ) | 5.0% | 20.7% | 0.20 | -3.0% |
| Bitcoin (BTCUSD) | 62.3% | 66.2% | 1.02 | 14.1% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
SEC Filings
Expand for More| Report Date | Filing Date | Filing |
|---|---|---|
| 06/30/2026 | 08/12/2026 | 10-Q |
| Report Date | Filing Date | Filing |
|---|---|---|
| 06/30/2026 | 08/12/2026 | 10-Q |
Industry Resources
| Financials Resources |
| Federal Reserve Economic Data |
| Federal Reserve |
| FDIC Data |
| American Banker |
| The Banker |
| Banking Technology |
| Multi-Sector Holdings Resources |
| McKinsey & Company Insights |
| Harvard Business Review |
| ValueWalk |
External Quote Links
| Y Finance | Barrons |
| TradingView | Morningstar |
| SeekingAlpha | ValueLine |
| Motley Fool | Robinhood |
| CNBC | Etrade |
| MarketWatch | Unusual Whales |
| YCharts | Perplexity Finance |
| FinViz |
Prefer one of these to Trefis? Tell us why.