Real Asset Acquisition Corp. Schedule 13G filed to report that Fort Baker Capital Management LP and related reporting persons beneficially own 1,719,359 Class A ordinary shares. The filing states this equals 9.97% of the class based on March 2, 2026 share count.
The filing names Fort Baker Capital Management LP, Fort Baker Capital, LLC and Steven Patrick Pigott as reporting persons and discloses shared voting and dispositive power over the reported shares. The issuer's outstanding Class A shares were reported as 17,250,000 on March 2, 2026.
Positive
None.
Negative
None.
Insights
Passive 13G disclosure: a near-10% stake by Fort Baker is now public.
The Schedule 13G lists 1,719,359 shares held by Fort Baker Capital Management LP and affiliated entities, representing 9.97% of common shares outstanding as of March 2, 2026. The filing attributes shared voting and shared dispositive power to the reporting persons.
Cash-flow treatment or plans for these shares are not stated in the excerpt. Subsequent filings or amendments could disclose changes in ownership or intent; timing not provided in the excerpt.
Key Figures
Reported shares beneficially owned:1,719,359 sharesPercent of class:9.97%Shares outstanding:17,250,000 shares
3 metrics
Reported shares beneficially owned1,719,359 sharesBeneficial ownership reported by Fort Baker Capital Management LP
Percent of class9.97%Calculated using outstanding shares as of March 2, 2026
Shares outstanding17,250,000 sharesIssuer's Class A shares outstanding as of <date>March 2, 2026</date>
Key Terms
Schedule 13G, Beneficial ownership, Shared Dispositive Power
3 terms
Schedule 13Gregulatory
"Item 1. Name of issuer: Real Asset Acquisition Corp."
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.
Beneficial ownershipfinancial
"Item 4. Ownership (a) Amount beneficially owned: Reference is hereby made to Items 5-9"
Beneficial ownership means the person or entity that actually enjoys the benefits of owning shares or other assets — such as receiving dividends, voting rights, or price gains — even if the legal title is held in another name. For investors it matters because knowing who truly controls and profits from a company reveals who can influence decisions, exposes potential conflicts of interest or hidden concentration of power, and affects transparency and risk in the stock.
Shared Dispositive Powerfinancial
"Item 4. (iv) Shared power to dispose or to direct the disposition of: 1,719,359"
Fort Baker Capital Management LP reports beneficial ownership of 1,719,359 shares. That equals 9.97% of RAAQ's Class A shares based on March 2, 2026 outstanding share count of 17,250,000.
Who are the reporting persons in the RAAQ Schedule 13G?
The filing lists Fort Baker Capital Management LP, Fort Baker Capital, LLC and Steven Patrick Pigott as reporting persons, each disclosing shared voting and shared dispositive power over the reported 1,719,359 shares.
Does the Schedule 13G say Fort Baker will sell or buy more RAAQ shares?
The excerpt does not state any planned purchases or sales. It discloses current beneficial ownership and voting/dispositive powers; no transaction instructions, sales plans, or cash-flow treatment are described in the provided text.
How was the percent ownership calculated in the filing for RAAQ?
The filing derives 9.97% by dividing the reported 1,719,359 shares by the issuer's reported outstanding Class A shares of 17,250,000 as of March 2, 2026, per the issuer's annual report cited in the statement.
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13G
UNDER THE SECURITIES EXCHANGE ACT OF 1934
Real Asset Acquisition Corp.
(Name of Issuer)
Class A Ordinary Shares, par value $0.0001 per share
(Title of Class of Securities)
G73944103
(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):
G73944103
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
1,719,359.00
7
Sole Dispositive Power
0.00
8
Shared Dispositive Power
1,719,359.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
1,719,359.00
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)
9.9 %
12
Type of Reporting Person (See Instructions)
IA
SCHEDULE 13G
CUSIP Number(s):
G73944103
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
1,719,359.00
7
Sole Dispositive Power
0.00
8
Shared Dispositive Power
1,719,359.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
1,719,359.00
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)
9.9 %
12
Type of Reporting Person (See Instructions)
IN
SCHEDULE 13G
CUSIP Number(s):
G73944103
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
1,719,359.00
7
Sole Dispositive Power
0.00
8
Shared Dispositive Power
1,719,359.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
1,719,359.00
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)
9.9 %
12
Type of Reporting Person (See Instructions)
HC
SCHEDULE 13G
Item 1.
(a)
Name of issuer:
Real Asset Acquisition Corp.
(b)
Address of issuer's principal executive offices:
174 NASSAU STREET, SUITE 2100, PRINCETON, NEW JERSEY, 08542.
Item 2.
(a)
Name of person filing:
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):
G73944103
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 1,719,359 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 3, 2026, in which the Issuer stated that the number of Class A ordinary shares outstanding was 17,250,000 as of March 2, 2026.
(b)
Percent of class:
Fort Baker Capital Management LP: 9.97%
Steven Patrick Pigott: 9.97%
Fort Baker Capital, LLC: 9.97%
(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: 1,719,359
Steven Patrick Pigott: 1,719,359
Fort Baker Capital, LLC: 1,719,359
(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: 1,719,359
Steven Patrick Pigott: 1,719,359
Fort Baker Capital, LLC: 1,719,359
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.
Certain third-party accounts have the right to receive or the power to direct the receipt of dividends from, or proceeds from the sale of, certain of the Shares covered by this Statement that may be deemed to be beneficially owned by the Reporting Persons.
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.
