Top Holding at 10%: Why a Nearly $60 Million Move Into This Oilfield Stock Stands Out

Webs Creek Capital Management disclosed a new stake in Cactus (NYSE:WHD) in its SEC filing dated February 17, 2026, acquiring an estimated $57.73 million position based on quarter-end pricing.

What happened

According to its SEC filing dated February 17, 2026, Webs Creek Capital Management added a new position in Cactus, purchasing 1,263,873 shares during the fourth quarter. The quarter-end value of the stake registered at $57.73 million.

What else to know

• This is a new position for the fund and represents 10.33% of its reportable assets under management as of the filing, making it Webs Creek’s largest reported holding at period’s end.
• Top holdings after the filing:
  • NYSE:WHD: $57.73 million (10.3% of AUM)
  • NYSE:AR: $51.83 million (9.3% of AUM)
  • NYSE:OVV: $51.07 million (9.1% of AUM)
  • NASDAQ:WFRD: $49.30 million (8.8% of AUM)
  • NYSE:MTZ: $43.88 million (7.9% of AUM)
• As of Wednesday, shares of Cactus were priced at $46.41, roughly flat over the past year compared to a 19% gain for the S&P 500.

Company overview

Company snapshot

• Cactus designs, manufactures, sells, and rents wellheads and pressure control equipment, including proprietary SafeDrill systems, monobore and manifold solutions, and provides field services for installation, maintenance, and repair.
• The firm generates revenue through equipment sales, rentals, and recurring service contracts primarily supporting onshore unconventional oil and gas wells across drilling, completion, and production phases.
• It serves oil and gas operators in the United States, Australia, China, and Saudi Arabia, with a focus on clients engaged in unconventional resource development.

Cactus operates at scale in the energy sector, leveraging proprietary technology and a service-oriented model to support oil and gas development globally. The company’s integrated offering of equipment and field services enables operators to improve operational efficiency and safety. With a strong presence in key unconventional markets and a focus on innovation, Cactus maintains a competitive position among oilfield equipment and service providers.

What this transaction means for investors

Cactus sits in a different part of the value chain than most of the fund’s other top holdings, which lean heavily toward exploration and production firms (E&Ps). Instead of taking direct exposure to oil prices, this business monetizes drilling activity itself, which tends to hold up better when operators stay disciplined but still need to maintain production.

The latest results show why that matters. The company generated $261 million in quarterly revenue with operating income near $60 million and an adjusted EBITDA margin of roughly 33%. Net income, meanwhile, came in at $48 million, translating to an 18.5% margin.

Still, there are signs of moderation, and that may be what’s depressing the stock price as of late. Full-year revenue declined to about $1.08 billion from $1.13 billion, and margins have compressed slightly from prior peaks. But the recent acquisition of Baker Hughes’ surface pressure control business could help reaccelerate growth, and that’s something long-term investors should be paying attention to.

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