Why This Fund Cashed Out of a Stock That Soared 250% in Just One Year

On May 14, 2026, Brigade Capital Management disclosed in an SEC filing that it sold out of Nabors Industries (NYSE:NBR), unloading 675,879 shares for an estimated $49.04 million based on quarterly average pricing.

What happened

According to its SEC filing dated May 14, 2026, Brigade Capital Management sold its entire holding in Nabors Industries, disposing of 675,879 shares. The estimated transaction value for the quarter was $49.04 million, based on the average unadjusted closing price from January to March 2026. The position’s quarter-end value fell by $36.70 million, capturing the impact of both trading and price changes.

What else to know

• Top holdings after the filing:
  • NASDAQ: LNTH: $27.59 million (34.4% of AUM)
  • NYSE: LUMN: $12.82 million (16.0% of AUM)
  • NYSE: ECVT: $10.51 million (13.1% of AUM)
  • NYSEMKT: SPY: $9.75 million (12.1% of AUM)
  • NASDAQ: EXE: $8.47 million (10.5% of AUM)
• As of Friday, Nabors Industries shares were priced at $92.63, skyrocketing 250% over the past year and well outperforming the S&P 500, which is up 28% in the same period.

Company overview

Company snapshot

• Nabors Industries offers land-based and offshore drilling services, drilling-related technologies, and equipment manufacturing, including advanced automation and real-time analytics platforms.
• The firm generates revenue through drilling contracts, equipment sales, technology solutions, and aftermarket services across multiple geographies.
• It serves oil and gas exploration and production companies globally, with a presence in the United States, Canada, and over 20 international markets.

Nabors Industries is a leading provider of drilling and drilling-related services, operating a diversified fleet of rigs and offering advanced technology solutions for the oil and gas sector. The company leverages its scale and engineering expertise to deliver integrated services and proprietary automation tools that enhance operational efficiency for its clients. With a global footprint and a focus on innovation, Nabors Industries maintains a competitive position in the energy services industry.

What this transaction means for investors

This sale looks like a classic profit-taking move after an extraordinary run. Nabors shares have surged roughly 250% over the past year, making it one of the strongest performers in the energy services space. For a fund like Brigade, which now counts names such as Lantheus and Lumen among its largest holdings, locking in gains after such a move is understandable.

What's notable is that the exit comes even as the underlying business continues to make progress. In the first quarter, Nabors reported $784 million in revenue and $205 million in adjusted EBITDA while expanding its average count of rigs working to nearly 168 rigs globally. Management highlighted improving activity in the Lower 48, where working rig count has increased by eight rigs since November, and continued growth across international markets. CEO Anthony Petrello said the company is gaining share as customers prioritize high-specification rigs and drilling technology.

For long-term investors, it’ll be important to watch whether operational momentum can continue after the stock's huge rally. International activity remains healthy, and management expects further rig growth through year-end—both of which are encouraging signs, but after a triple-digit gain, expectations are much higher than they were a year ago.

Jonathan Ponciano has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Lantheus. The Motley Fool has a disclosure policy.