Compacting wireline fishing tool and methods of use

A method, comprising:

• conveying a wireline fishing tool into a wellbore on a conveyance, the wireline fishing tool including:
• a body having opposing upper and lower ends and defining an inner flowpath extending between the upper and lower ends and in fluid communication with the conveyance;
• a spear arranged within the inner flowpath and including a spear body having opposing uphole and downhole ends and an inner channel extending between the uphole and downhole ends;
• and
• one or more hooks pivotably attached to the spear body at the downhole end,
• advancing the wireline fishing tool in the wellbore until locating a downhole tool and loose wireline coupled to the downhole tool;
• actuating the spear and thereby moving the spear from a retracted state, where the one or more hooks are arranged within the inner flowpath, and an extended state, where the spear body extends out of the inner flowpath at the lower end and the one or more hooks exit the inner flowpath;
• pivoting the one or more hooks radially outward and away from the spear body upon exiting the inner flowpath;
• engaging the loose wireline with the one or more hooks;
• and
• pulling the conveyance and the wireline fishing tool uphole and simultaneously pulling uphole on the loose wireline.