FourWorld Takes a Major Swing on Sable Offshore (SOC), Buying 8 Million Shares
Key Points
FourWorld Capital Management LLC added 8,105,608 shares of Sable Offshore Corp. in the fourth quarter, with an estimated transaction value of $73.11 million.
The quarter-end position value increased by $73.11 million, reflecting the new position in Sable Offshore Corp.
This new stake accounts for 62.89% of the fund’s AUM, making it the fund's largest holding.
- 10 stocks we like better than Sable Offshore ›
What happened
According to a Securities and Exchange Commission (SEC) filing dated February 17, 2026, FourWorld Capital Management LLC established a new position in Sable Offshore Corp. (NYSE:SOC) by acquiring 8,105,608 shares. The estimated value of this trade was $73.11 million.
What else to know
This was a new position for the fund, with Sable Offshore now accounting for 62.9% of reportable AUM as of December 31, 2025.
Top holdings after the filing:
- NYSE:SOC: $73.11 million (62.9% of AUM)
- NYSEMKT:IWM: $6.15 million (5.3% of AUM)
- NYSE:BMY: $5.39 million (4.6% of AUM)
- NASDAQ:EVLV: $5.13 million (4.4% of AUM)
- NYSEMKT:XLE: $4.47 million (3.85% of AUM)
As of February 27, 2026, Sable Offshore shares were priced at $8.25, down 72.92% over the past year and underperforming the S&P 500 by 86.44 percentage points.
Company overview
| Metric | Value |
|---|---|
| Price (as of market close Feb. 27, 2026) | $8.25 |
| Market capitalization | $1.20 billion |
| Net income (TTM) | -$364 million |
Company snapshot
Sable Offshore is an energy company focused on offshore oil and gas production, leveraging a portfolio of federal leases totaling approximately 76,000 acres.
The company engages in the production and sale of crude oil and natural gas through offshore California platforms and an onshore processing facility, and it serves energy markets in the United States.
What this transaction means for investors
FourWorld took a major swing on Sable Offshore. The stock is now the firm’s top holding, comprising more than 60% of its portfolio. Considering that all other top holdings make up 5% or less of the fund, FourWorld holds a major conviction in Sable Offshore.
This stock has not been without its challenges. Falling by more than 70% over the last 12 months, the company has faced major legal challenges. Late last year, federal regulators approved the restart of its Las Flores pipeline in California, only for environmental groups to immediately file a lawsuit to halt the restart.
More recently, a Santa Barbara judge ruled against Sable Offshore’s bid to restart the pipeline, further halting its progress. This legal battle could be long and drawn out, increasing the stock’s potential for volatility going forward.
Because the stock has plunged over the last year, it is a more affordable buy. However, much of its success will depend on how it fares with its many legal challenges. While it may have long-term growth potential, it’s also a high-risk buy right now.
Should you buy stock in Sable Offshore right now?
Before you buy stock in Sable Offshore, consider this:
The Motley Fool Stock Advisor analyst team just identified what they believe are the 10 best stocks for investors to buy now… and Sable Offshore wasn’t one of them. The 10 stocks that made the cut could produce monster returns in the coming years.
Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you’d have $519,015!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you’d have $1,086,211!*
Now, it’s worth noting Stock Advisor’s total average return is 941% — a market-crushing outperformance compared to 194% for the S&P 500. Don't miss the latest top 10 list, available with Stock Advisor, and join an investing community built by individual investors for individual investors.
See the 10 stocks »
*Stock Advisor returns as of March 2, 2026.
Katie Brockman has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Bristol Myers Squibb. The Motley Fool has a disclosure policy.
Recommended Articles
