With the release of the fourth LIGO-Virgo-KAGRA gravitational-wave catalog (GWTC-4), we are starting to gain a detailed view of the population of merging binary black holes. The formation channels of these black holes is not clearly understood, but different formation mechanisms may lead to subpopulations with different properties visible in gravitational-wave data. Adopting a phenomenological approach, we find GWTC-4.0 data supports the presence of at least three subpopulations, each associated with a different range of black hole mass and with sharp transition boundaries between them. Each subpopulation is characterized by different distributions for either the mass ratios, the black-hole spin magnitudes or both. Subpopulation $\mathcal{A}$ with primary mass $m_1\le {27.7}_{-3.4}^{+4.1}{M}_{\odot }$ (90% credibility), is characterized by a nearly flat mass ratio distribution $q=m_2/m_1$, and by small spin magnitudes ($\chi \le {0.5}_{-0.1}^{+0.1}$). Subpopulation $\mathcal{B}$, with ${27.7}_{-3.4}^{+4.1}{M}_{\odot }\le m_1\le {40.2}_{-3.2}^{+4.7}{M}_{\odot }$, has a much sharper preference for mass ratio $q\approx 1$. Subpopulation $\mathcal{C}$, with $m_1\ge {40.2}_{-3.2}^{+4.7}{M}_{\odot }$, has support for large spin magnitudes, and tentative support for mass ratios $q\approx 0.5$. We interpret these transitions as evidence for multiple subpopulations, each potentially associated with a different formation pathways. We suggest putative formation scenarios for each subpopulation, and explore chemically homogeneous evolution, population III stars and dynamical formation channels as an explanation for subpopulation $\mathcal{B}$. Our findings for subpopulation $\mathcal{C}$ are largely consistent with recent claims of hierarchical mergers but with some curious differences in properties.

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• Gravitational wave detection
• Gravitational wave sources
• Gravitational waves
• Astronomical black holes