FourWorld Capital Management LLC

NEW YORK, NY · CIK 1770525 · 13F filing filed 2023-08-14

SEC-registered investment adviser since 2016 · limited liability company

Assets managed$1.4bn
Staff17 · 13 in investment roles
Main clients (by assets)Private funds 96%, Companies 3%
Private funds9 (9 hedge) · $939.8m gross assets
Form ADV · 2026-05-07SEC adviser record

Legal entityFOURWORLD CAPITAL MANAGEMENT LLC (US)

$347.9m reported value +129.1% vs Q1 2023

17positions

99.1%in top 10

4 new 5 added 1 reduced 1 sold out vs Q1 2023

Options: 5 call positions ($101.1m notional), 4 put positions ($162.0m notional) – listed below, not included above.

Holdings, Q2 2023

The small lines show how much was held over the last 4 quarters (adjusted for stock splits).

#	Security	Ticker	Shares	Value	% of portfolio	Change	Shares change
1	ARGO GROUP INTL HLDGS LTD COM AGII	AGII	5,502,120	$161.8m46.52%	46.52%	Added +2.7m	+2,745,317 99.6%
2	DIVERSEY HLDGS LTD ORD SHS ORD SHS		12,640,975	$106.1m30.49%	30.49%	Added +11.0m	+11,040,975 690.1%
3	SEMPER PARATUS ACQUISITION C CLASS A ORD LGST	LGST	2,320,000	$24.8m7.12%	7.12%	Unchanged
4	SERITAGE GROWTH PPTYS CL A SRG	SRG	1,738,491	$15.5m4.46%	4.46%	Added +12.1k	+12,108 0.7%
5	BLUEGREEN VACATIONS HLDG COR CLASS A CLASS A		277,887	$9.9m2.85%	2.85%	Added +267.9k	+267,887 2678.9%
6	ODYSSEY MARINE EXPL INC COM NEW OMEX	OMEX	2,173,648	$7.8m2.25%	2.25%	Added +298.6k	+298,599 15.9%
7	CHINDATA GROUP HLDGS LTD ADS ADS		1,010,000	$7.2m2.08%	2.08%	New
8	ARCO PLATFORM LTD COM CL A COM CL A		452,785	$5.5m1.58%	1.58%	New
9	ARBUTUS BIOPHARMA CORP COM ABUS	ABUS	1,341,907	$3.1m0.89%	0.89%	Reduced -658.2k	-658,183 -32.9%
10	SEMPER PARATUS ACQUISITION C UNIT 11/04/2026 UNIT 11/04/2026		1,500,000	$3.0m0.86%	0.86%	Unchanged
11	EVOLUS INC COM EOLS	EOLS	245,590	$1.8m0.51%	0.51%	Unchanged
12	SOLID POWER INC CLASS A COM SLDP	SLDP	477,129	$1.2m0.35%	0.35%	Unchanged
13	BRISTOL-MYERS SQUIBB CO RIGHT 12/30/2030 CELG-R	CELG-R	100,000	$69.0k0.02%	0.02%	New
14	SEMPER PARATUS ACQUISITION C W EXP 11/04/202 W EXP 11/04/202		1,450,000	$59.9k0.02%	0.02%	Unchanged
15	PILGRIMS PRIDE CORP COM PPC	PPC	1,000	$21.5k0.01%	0.01%	Unchanged
16	NEWS CORP NEW CL A NWSA	NWSA	1,000	$19.5k0.01%	0.01%	Unchanged
17	NEXTIER OILFIELD SOLUTIONS COM FRAC	FRAC	315	$2.8k0.00%	0.00%	New

Sold out since Q1 2023

Security	Ticker	Shares held before	Value then
SPECTRUM BRANDS HLDGS INC NE SPB	SPB	10,000	$662.2k10.0k shares

Options (notional value)

Underlying	Ticker	Type	Shares controlled	Notional	Change
SPDR S&P 500 ETF TR SPY · Put	SPY	Put	230,000	$102.0m230.0k shares	Added
INVESCO QQQ TR QQQ · Put	QQQ	Put	150,000	$55.4m150.0k shares	New
SEAGEN INC SGEN · Call	SGEN	Call	250,000	$48.1m250.0k shares	New
SPDR S&P 500 ETF TR SPY · Call	SPY	Call	100,000	$44.3m100.0k shares	Added
IROBOT CORP IRBT · Call	IRBT	Call	136,500	$6.2m136.5k shares	New
IROBOT CORP IRBT · Put	IRBT	Put	100,000	$4.5m100.0k shares	New
AMC ENTMT HLDGS INC Call		Call	500,000	$2.2m500.0k shares	New
ALIBABA GROUP HLDG LTD BABA · Call	BABA	Call	3,000	$250.1k3.0k shares	Reduced
ICAHN ENTERPRISES LP IEP · Put	IEP	Put	3,000	$87.1k3.0k shares	New

Stakes above 5%

Companies where this manager has reported owning more than 5% of a class of shares, on Schedule 13D (may seek influence) or 13G (passive): its latest filing for each, from 19 Dec 2024 on.

Company	Ticker	Stake	Change	Schedule	Last filed
SABLE OFFSHORE CORP SOC · 13G · filed 2026-02-19	SOC	5.8%≈ $25.9m	new	13G	2026-02-19