FourWorld Capital Management LLC

NEW YORK, NY · CIK 1770525 · 13F filing filed 2025-08-14

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)

$139.3m reported value -4.5% vs Q1 2025

21positions

94.3%in top 10

7 new 4 added 2 reduced 7 sold out vs Q1 2025

Options: 0 call positions (— notional), 1 put positions ($9.3m notional) – listed below, not included above.

Holdings, Q2 2025

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	ENSTAR GROUP LIMITED SHS ESGR	ESGR	208,600	$70.2m50.38%	50.38%	Unchanged
2	GOLDEN OCEAN GROUP LTD SHS NEW 2663476D	2663476D	2,501,000	$18.3m13.15%	13.15%	New
3	SKECHERS U S A INC CL A SKX	SKX	240,000	$15.1m10.87%	10.87%	New
4	EVOLV TECHNOLOGIES HLDNGS IN COM CL A EVLV	EVLV	1,606,563	$10.0m7.20%	7.20%	Reduced -456.5k	-456,540 -22.1%
5	BRISTOL-MYERS SQUIBB CO COM BMY	BMY	100,000	$4.6m3.32%	3.32%	Unchanged
6	ARBUTUS BIOPHARMA CORP COM ABUS	ABUS	1,226,710	$3.8m2.72%	2.72%	Unchanged
7	SERITAGE GROWTH PPTYS CL A SRG	SRG	1,113,243	$3.4m2.46%	2.46%	Unchanged
8	ZEEKR INTELLIGENT TECHNOLOGY SPON ADS ZK	ZK	86,400	$2.2m1.58%	1.58%	New
9	AIRSCULPT TECHNOLOGIES INC COM AIRS	AIRS	382,886	$1.8m1.33%	1.33%	Added +127.7k	+127,676 50.0%
10	NEURONETICS INC COM STIM	STIM	500,000	$1.7m1.25%	1.25%	Unchanged
11	TASKUS INC CLASS A COM TASK	TASK	100,000	$1.7m1.20%	1.20%	New
12	EXAGEN INC COM XGN	XGN	208,527	$1.5m1.05%	1.05%	New
13	SOLID POWER INC CLASS A COM SLDP	SLDP	477,129	$1.0m0.75%	0.75%	Unchanged
14	KASPI KZ JSC SPONSORED ADS KSPI	KSPI	10,000	$848.9k0.61%	0.61%	Unchanged
15	THE ONCOLOGY INSTITUTE INC COM STLN	STLN	391,650	$802.9k0.58%	0.58%	Added +134.7k	+134,650 52.4%
16	ENERGY SVCS ACQUISITION CORP COM ESOA	ESOA	80,554	$800.7k0.57%	0.57%	Added +47.4k	+47,369 142.7%
17	CVRX INC COM CVRX	CVRX	124,123	$729.8k0.52%	0.52%	Added +105.4k	+105,422 563.7%
18	INOTIV INC COM NOTVQ	NOTVQ	141,377	$257.3k0.18%	0.18%	Reduced -55.1k	-55,072 -28.0%
19	CHEMOURS CO COM CC	CC	13,600	$155.7k0.11%	0.11%	New
20	INSEEGO CORP COM NEW INSG	INSG	13,200	$108.8k0.08%	0.08%	New
21	TEVOGEN BIO HLDGS INC *W EXP 02/14/202 TVGNW	TVGNW	1,450,000	$101.4k0.07%	0.07%	Unchanged

Sold out since Q1 2025

Security	Ticker	Shares held before	Value then
DESPEGAR COM CORP DESP	DESP	2,529,500	$47.5m2.5m shares
ENERGY TRANSFER L P ET	ET	96,500	$1.8m96.5k shares
ALPHA TEKNOVA INC TKNO	TKNO	159,699	$828.8k159.7k shares
TALKSPACE INC TALK	TALK	209,650	$536.7k209.7k shares
PROPHASE LABS INC		376,577	$152.2k376.6k shares
EURONAV NV CMBT	CMBT	4,000	$36.3k4.0k shares
DADA NEXUS LTD DADA	DADA	10,000	$18.5k10.0k shares

Options (notional value)

Underlying	Ticker	Type	Shares controlled	Notional	Change
SPDR S&P 500 ETF TR SPY · Put	SPY	Put	15,000	$9.3m15.0k shares	Unchanged

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