FourWorld Capital Management LLC

Name: FourWorld Capital Management LLC 13F holdings, Q3 2025
Creator: FourWorld Capital Management LLC
Published: 2025-11-14

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

In its 13F for Q3 2025 (holdings as of September 30, 2025, filed November 14, 2025), FourWorld Capital Management LLC reported 20 stock positions worth $41.2 million. Its top holding was Evolv Technologies (EVLV) at 17.3% of the portfolio, followed by Seritage Growth Prop- A (SRG, 11.5%) and Arbutus Biopharma (ABUS, 11.3%). Compared with Q2 2025, it opened 5 new positions, sold out of 5, added to 5 and reduced 5. The biggest buy was Airsculpt Technologies (AIRS, shares +2%) and the biggest sale an exit from Enstar (ESGR).

Most Recent 13F: Q2 2026
Location: NEW YORK, NY
CIK: 0001770525
Portfolio Value: $41.2M (Q3 2025)
SEC Filing: 0001770525-25-000010 ↗ filed Nov 14, 2025

Holdings Value

Holdings 20 stocks · $41.2M


EVLV Evolv Technologies Holdings	17.32%	944,902	$7.1M	Reduce -41.2%
SRG Seritage Growth Prop- A	11.49%	1,113,243	$4.7M	No change
ABUS Arbutus Biopharma Corp.	11.25%	1,020,910	$4.6M	Reduce -16.8%
BMY Bristol-Myers Squibb Co.	10.95%	100,000	$4.5M	No change
AIRS Airsculpt Technologies Inc.	7.62%	391,156	$3.1M	Add +2.2%
XGN Exagen Inc.	6.06%	227,000	$2.5M	Add +8.9%
TASK Taskus Inc. Class A	4.33%	100,000	$1.8M	No change
SLDP Solid Power Inc.	4.02%	477,129	$1.7M	No change
STIM Neuronetics Inc.	3.77%	568,000	$1.6M	Add +13.6%
ZK Zeekr Intelligent Techno-ADR	3.69%	49,789	$1.5M	Reduce -42.4%
STLN Starling Oncology Inc. filed as THE ONCOLOGY INSTITUTE INC	3.03%	358,000	$1.2M	Reduce -8.6%
CVRX CVRX Inc.	2.84%	145,000	$1.2M	Add +16.8%
ESOA Energy Services of America	2.82%	112,357	$1.2M	Add +39.5%
DAR Darling Ingredients Inc.	2.55%	34,000	$1.0M	New
KSPI JSC Kaspi.kz ADR filed as KASPI KZ JSC	1.98%	10,000	$817K	No change
WW WW International Inc.-New filed as WW INTL INC	1.94%	29,150	$798K	New
BSM Black Stone Minerals LP	1.59%	49,714	$653K	New
CMBT CMB Tech NV	1.22%	53,607	$503K	Reduce -97.7%
MOBILICOM LTD	1.16%	51,211	$476K	New
CDZI Cadiz Inc.	0.37%	32,043	$151K	New

Options reported separately and not counted above: SPY puts ($17.3M), IWM puts ($3.6M), AIRS calls ($1.1M).

Other holdings (1): bonds, preferreds, convertibles and warrants · $80K (not counted above)

Security	Class	Shares / Principal	Value	Change
TVGNW Semper Paratus Acqu -CW26	*W EXP 02/14/202	1,450,000	$80K	No change

Total filed on the 13F, all lines: $41.3M.

Portfolio Sells Q2 2025 → Q3 2025


ESGR Enstar Group Ltd.	Sold out	0.00%	−50.42
CMBT CMB Tech NV	Reduce -97.7%	1.22%	−11.93
SKX Skechers USA Inc. Class A	Sold out	0.00%	−10.88
NOTVQ Inotiv Inc.	Sold out	0.00%	−0.18
CC The Chemours Co.	Sold out	0.00%	−0.11
INSG Inseego Corp.	Sold out	0.00%	−0.08
ZK Zeekr Intelligent Techno-ADR	Reduce -42.4%	3.69%	+2.10
STLN Starling Oncology Inc.	Reduce -8.6%	3.03%	+2.46
ABUS Arbutus Biopharma Corp.	Reduce -16.8%	11.25%	+8.53
EVLV Evolv Technologies Holdings	Reduce -41.2%	17.32%	+10.12

Portfolio Buys Q2 2025 → Q3 2025


AIRS Airsculpt Technologies Inc.	Add +2.2%	7.62%	+6.29
XGN Exagen Inc.	Add +8.9%	6.06%	+5.01
DAR Darling Ingredients Inc.	New	2.55%	+2.55
STIM Neuronetics Inc.	Add +13.6%	3.77%	+2.51
CVRX CVRX Inc.	Add +16.8%	2.84%	+2.32
ESOA Energy Services of America	Add +39.5%	2.82%	+2.25
WW WW International Inc.-New	New	1.94%	+1.94
BSM Black Stone Minerals LP	New	1.59%	+1.59
MOBILICOM LTD	New	1.16%	+1.16
CDZI Cadiz Inc.	New	0.37%	+0.37

Options Activity Q2 2025 → Q3 2025


SPY SS SPDR S&P 500 ETF Trust-US	put	Add +73.3%	26,000	$17.3M
IWM iShares Russell 2000 ETF	put	New	15,000	$3.6M
AIRS Airsculpt Technologies Inc.	call	New	140,000	$1.1M

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