Shares of Mammoth Energy Services Inc. (NASDAQ:TUSK) climbed 7.7% on Tuesday after a regulatory filing revealed a significant stake increase by investment firm Wexford Capital LP.
According to a Form 4 filed with the Securities and Exchange Commission, Wexford Capital purchased 4,019,574 shares of Mammoth Energy on June 17 at a price of $2.6043 per share. The filing values that block of stock at roughly $10.47 million.
That transaction raised Wexford Capital’s aggregate stake to 12,071,823 shares, which the filing states represents 25.06% of Mammoth Energy’s outstanding common stock. The filing attributes part of that position to transfers and distributions in addition to the outright purchase.
Specifically, Wexford Capital received 6,354,667 shares via an in-kind distribution from MEH SUB LLC, an entity the filing identifies as being managed by Wexford Capital. The filing also shows an additional 1,072,896 shares were received by Wexford as payment for investment management services.
The filing notes that Wexford Capital acts as sub-advisor to two entities - Wexford Spectrum Trading Limited and Wexford Catalyst Trading Limited - and as investment manager to Wexford Focused Trading Limited. The shares reported on the Form 4 are held collectively across those Wexford-affiliated entities.
Control and voting arrangements are also described in the filing. Charles E. Davidson and Joseph M. Jacobs are identified as controlling persons of Wexford GP LLC, which serves as the general partner of Wexford Capital. The filing says both Davidson and Jacobs share voting and dispositive power over securities held by the Wexford entities.
In addition to the holdings held through Wexford, the filing shows Charles E. Davidson holds 6,470,441 shares directly through CD Holding Company LLC, equal to 13.43% of the company based on the filing's share count. The filing also records that Director Arthur H. Amron and Chief Business Officer Paul M. Jacobi each received shares as in-kind distributions from MEH SUB LLC.
Ownership percentages in the filing are calculated using a total of 48,170,647 shares outstanding, a figure dated May 5, 2026. The filing thus presents the current picture of concentrated ownership among Wexford-affiliated vehicles and certain company insiders or related entities.
Market reaction and context
The immediate market response to the disclosed purchase was a 7.7% rise in Mammoth Energy shares on Tuesday. The filing provides the specific mechanics and quantities behind the position increase, including purchases, in-kind distributions, and shares issued as payment for services.
Investors reviewing the filing can assess both the scale of Wexford-aligned ownership and the governance implications of shared voting and dispositive authority among named controlling persons.