FourWorld Capital Management LLC

Name: FourWorld Capital Management LLC 13F holdings, Q2 2025
Creator: FourWorld Capital Management LLC
Published: 2025-08-14

Q2 2026Q1 2026Q4 2025Q3 2025Q1 2025Q4 2024Q3 2024Q2 2024Q1 2024

In its 13F for Q2 2025 (holdings as of June 30, 2025, filed August 14, 2025), FourWorld Capital Management LLC reported 20 stock positions worth $139.2 million. Its top holding was Enstar (ESGR) at 50.4% of the portfolio, followed by Golden Ocean (13.2%) and Skechers USA Class A (SKX, 10.9%). Compared with Q1 2025, it opened 7 new positions, sold out of 7, added to 4 and reduced 2. The biggest buy was a new position in Golden Ocean and the biggest sale an exit from Despegar.com (DESP).

Most Recent 13F: Q2 2026
Location: NEW YORK, NY
CIK: 0001770525
Portfolio Value: $139.2M (Q2 2025)
SEC Filing: 0001770525-25-000008 ↗ filed Aug 14, 2025

Holdings Value

Holdings 20 stocks · $139.2M


ESGR Enstar Group Ltd.	50.42%	208,600	$70.2M	No change
GOLDEN OCEAN GROUP LTD	13.15%	2,501,000	$18.3M	New
SKX Skechers USA Inc. Class A	10.88%	240,000	$15.1M	New
EVLV Evolv Technologies Holdings	7.20%	1,606,563	$10.0M	Reduce -22.1%
BMY Bristol-Myers Squibb Co.	3.33%	100,000	$4.6M	No change
ABUS Arbutus Biopharma Corp.	2.72%	1,226,710	$3.8M	No change
SRG Seritage Growth Prop- A	2.46%	1,113,243	$3.4M	No change
ZK Zeekr Intelligent Techno-ADR	1.58%	86,400	$2.2M	New
AIRS Airsculpt Technologies Inc.	1.33%	382,886	$1.8M	Add +50.0%
STIM Neuronetics Inc.	1.25%	500,000	$1.7M	No change
TASK Taskus Inc. Class A	1.20%	100,000	$1.7M	New
XGN Exagen Inc.	1.05%	208,527	$1.5M	New
SLDP Solid Power Inc.	0.75%	477,129	$1.0M	No change
KSPI JSC Kaspi.kz ADR filed as KASPI KZ JSC	0.61%	10,000	$849K	No change
STLN Starling Oncology Inc. filed as THE ONCOLOGY INSTITUTE INC	0.58%	391,650	$803K	Add +52.4%
ESOA Energy Services of America	0.58%	80,554	$801K	Add +142.7%
CVRX CVRX Inc.	0.52%	124,123	$730K	Add +563.7%
NOTVQ Inotiv Inc.	0.18%	141,377	$257K	Reduce -28.0%
CC The Chemours Co.	0.11%	13,600	$156K	New
INSG Inseego Corp.	0.08%	13,200	$109K	New

Options reported separately and not counted above: SPY puts ($9.3M).

Other holdings (1): bonds, preferreds, convertibles and warrants · $101K (not counted above)

Security	Class	Shares / Principal	Value	Change
TVGNW Semper Paratus Acqu -CW26	*W EXP 02/14/202	1,450,000	$101K	No change

Total filed on the 13F, all lines: $139.3M.

Portfolio Sells Q1 2025 → Q2 2025


DESP Despegar.com Corp.	Sold out	0.00%	−32.60
ET Energy Transfer LP	Sold out	0.00%	−1.23
TKNO Alpha Teknova Inc.	Sold out	0.00%	−0.57
TALK Talkspace Inc.	Sold out	0.00%	−0.37
NOTVQ Inotiv Inc.	Reduce -28.0%	0.18%	−0.11
PROPHASE LABS INC	Sold out	0.00%	−0.10
CMBT CMB Tech NV	Sold out	0.00%	−0.02
DADA Dada Nexus Ltd.-ADR	Sold out	0.00%	−0.01
EVLV Evolv Technologies Holdings	Reduce -22.1%	7.20%	+2.79

Portfolio Buys Q1 2025 → Q2 2025


GOLDEN OCEAN GROUP LTD	New	13.15%	+13.15
SKX Skechers USA Inc. Class A	New	10.88%	+10.88
ZK Zeekr Intelligent Techno-ADR	New	1.58%	+1.58
TASK Taskus Inc. Class A	New	1.20%	+1.20
XGN Exagen Inc.	New	1.05%	+1.05
AIRS Airsculpt Technologies Inc.	Add +50.0%	1.33%	+0.92
STLN Starling Oncology Inc.	Add +52.4%	0.58%	+0.38
CVRX CVRX Inc.	Add +563.7%	0.52%	+0.37
ESOA Energy Services of America	Add +142.7%	0.58%	+0.36
CC The Chemours Co.	New	0.11%	+0.11
INSG Inseego Corp.	New	0.08%	+0.08

Options Activity Q1 2025 → Q2 2025


ISHARES INC	call	Sold out	35,000	$905Kbefore exit
EVLV Evolv Technologies Holdings	call	Sold out	125,000	$390Kbefore exit

Calls and puts are listed by the shares they cover; their value is not part of the stock holdings above.

All Filings

Quarter	Positions	13F Reported Value	Top Holdings
Q2 2026	19	$78.3M	SOC, PRTH, MX, BMY, TDAY
Q1 2026	18	$177.1M	SOC, MCW, PRTH, TDAY, BMY
Q4 2025Amended	17	$106.6M	SOC, BMY, EVLV, XLE, SRG
Q3 2025	20	$41.2M	EVLV, SRG, ABUS, BMY, AIRS
Q2 2025	20	$139.2M	ESGR, GOLDEN OCEAN GROUP LTD, SKX, EVLV, BMY
Q1 2025	20	$145.8M	ESGR, DESP, EVLV, BMY, ABUS
Q4 2024	18	$185.9M	EDR, ESGR, EVLV, SRG, ABUS
Q3 2024	23	$107.8M	EDR, EVLV, ABUS, SRG, ACI
Q2 2024	26	$75.7M	EDR, OMEX, HOLI, ABUS, EVLV
Q1 2024Amended	26	$102.6M	TDCX, SRG, HOLI, OMEX, ABUS