<?xml version="1.0" encoding="UTF-8"?><edgarSubmission xmlns="http://www.sec.gov/edgar/schedule13g" xmlns:com="http://www.sec.gov/edgar/common">
    <headerData>
        <submissionType>SCHEDULE 13G/A</submissionType>
        <previousAccessionNumber>0001539041-25-000045</previousAccessionNumber>
        <filerInfo>
            <filer>
                <filerCredentials>
                    <cik>0001539041</cik>
                    <ccc>XXXXXXXX</ccc>
                </filerCredentials>
            </filer>
            <liveTestFlag>LIVE</liveTestFlag>


        </filerInfo>
    </headerData>
    <formData>
        <coverPageHeader>
            <amendmentNo>1</amendmentNo>
            <securitiesClassTitle>Class A Ordinary Shares, par value $0.0001 per share</securitiesClassTitle>
            <eventDateRequiresFilingThisStatement>12/31/2025</eventDateRequiresFilingThisStatement>
            <issuerInfo>
                <issuerCik>0002076427</issuerCik>
                <issuerName>Galata Acquisition Corp. II</issuerName>
                <issuerCusip>G3R25N108</issuerCusip>
                <issuerPrincipalExecutiveOfficeAddress>
                    <com:street1>818 18th Avenue South, Suite 925</com:street1>
                    <com:city>Nashville</com:city>
                    <com:stateOrCountry>TN</com:stateOrCountry>
                    <com:zipCode>37203</com:zipCode>
                </issuerPrincipalExecutiveOfficeAddress>
            </issuerInfo>
            <designateRulesPursuantThisScheduleFiled>
                <designateRulePursuantThisScheduleFiled>Rule 13d-1(b)</designateRulePursuantThisScheduleFiled>
            </designateRulesPursuantThisScheduleFiled>
        </coverPageHeader>
        <coverPageHeaderReportingPersonDetails>

            <reportingPersonName> Picton Mahoney Asset Management</reportingPersonName>
            <citizenshipOrOrganization>Z4</citizenshipOrOrganization>
            <reportingPersonBeneficiallyOwnedNumberOfShares>
                <soleVotingPower>999996</soleVotingPower>
                <sharedVotingPower>0</sharedVotingPower>
                <soleDispositivePower>999996</soleDispositivePower>
                <sharedDispositivePower>0</sharedDispositivePower>
            </reportingPersonBeneficiallyOwnedNumberOfShares>
            <reportingPersonBeneficiallyOwnedAggregateNumberOfShares>999996</reportingPersonBeneficiallyOwnedAggregateNumberOfShares>
            <classPercent>5.8</classPercent>
            <typeOfReportingPerson>PN</typeOfReportingPerson>
            <comments>Based on the Form 10-Q filed November 13, 2025; as of November 13, 2025, there were 17,250,000 Class A ordinary shares outstanding.</comments>
        </coverPageHeaderReportingPersonDetails>
        <items>
            <item1>
                <issuerName>Galata Acquisition Corp. II</issuerName>
                <issuerPrincipalExecutiveOfficeAddress>818 18th Avenue South, Suite 925, Nashville, TENNESSEE, 37203</issuerPrincipalExecutiveOfficeAddress>
            </item1>
            <item2>
                <filingPersonName>Picton Mahoney Asset Management</filingPersonName>
                <principalBusinessOfficeOrResidenceAddress>33 Yonge Street, #320, Toronto, ON M5E 1G4</principalBusinessOfficeOrResidenceAddress>
                <citizenship>Canada</citizenship>
            </item2>
            <item3>
                <notApplicableFlag>N</notApplicableFlag>
                <typeOfPersonFiling>FI</typeOfPersonFiling>
                <otherTypeOfPersonFiling>Investment Fund Manager</otherTypeOfPersonFiling>
            </item3>
            <item4>
                <amountBeneficiallyOwned>999,996</amountBeneficiallyOwned>
                <classPercent>5.80</classPercent>
                <numberOfSharesPersonHas>
                    <solePowerOrDirectToVote>999,996</solePowerOrDirectToVote>
                    <sharedPowerOrDirectToVote>0</sharedPowerOrDirectToVote>
                    <solePowerOrDirectToDispose>999,996</solePowerOrDirectToDispose>
                    <sharedPowerOrDirectToDispose>0</sharedPowerOrDirectToDispose>
                </numberOfSharesPersonHas>
            </item4>
            <item5>
                <notApplicableFlag>Y</notApplicableFlag>
                <classOwnership5PercentOrLess>N</classOwnership5PercentOrLess>
            </item5>
            <item6>
                <notApplicableFlag>Y</notApplicableFlag>
            </item6>
            <item7>
                <notApplicableFlag>Y</notApplicableFlag>
            </item7>
            <item8>
                <notApplicableFlag>Y</notApplicableFlag>
            </item8>
            <item9>
                <notApplicableFlag>Y</notApplicableFlag>
            </item9>
            <item10>
                <notApplicableFlag>N</notApplicableFlag>
                <certifications>By signing below I certify that, to the best of my knowledge and belief, the foreign regulatory scheme applicable to [insert particular category of institutional investor] 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.</certifications>
            </item10>
        </items>
        <signatureInformation>
            <reportingPersonName> Picton Mahoney Asset Management</reportingPersonName>
            <signatureDetails>
                <signature>Catrina Duong</signature>
                <title>Chief Compliance Officer</title>
                <date>01/12/2026</date>
            </signatureDetails>
        </signatureInformation>
        <signatureComments>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.</signatureComments>
    </formData>
</edgarSubmission>
