SCHEDULE: Merced Capital Discloses 5.3% Stake in Hornbeck Offshore

Merced Capital, L.P. and affiliated entities have reported beneficial ownership of 11,733,106 shares, representing 5.3% of Hornbeck Offshore Services, Inc. common stock.

Summary

• Merced Capital, L.P., along with its associated entities (Merced Capital Partners, David A. Ericson, Vincent C. Vertin, and Stuart B. Brown), has filed a Schedule 13G.
• This filing indicates beneficial ownership of 11,733,106 shares of Hornbeck Offshore Services, Inc. common stock.
• This holding represents 5.3% of the total outstanding common stock as of September 1, 2026.
• The shares are held through various Merced entities: First MP (4,139,410 shares), Second MP (2,941,533 shares), and Third MP (4,652,163 shares).
• The reporting persons collectively share voting and dispositive power over these shares.
• David A. Ericson, Vincent C. Vertin, and Stuart B. Brown collectively have voting control over the interests in Merced Capital Partners.

Sentiment

Score: 6

Explanation: StockSavvy.ai views this filing as neutral to slightly positive, indicating a significant but not controlling stake. The lack of specific strategic commentary or financial performance data limits a more enthusiastic assessment.

Positives

• Merced Capital has established a significant minority stake (5.3%) in Hornbeck Offshore Services, Inc.
• The filing clearly outlines the beneficial ownership structure and the number of shares held by various entities and individuals.

Negatives

• The filing does not provide any information regarding the rationale behind the investment or future intentions.
• No financial performance data or strategic updates for Hornbeck Offshore Services, Inc. are included in this filing.

Risks

• The filing does not explicitly mention any risks associated with the investment or the company's operations.

Future Outlook

No forward-looking statements or guidance are provided in this filing.

Management Comments

• Each of Mr. Ericson, Mr. Vertin, and Mr. Brown disclaim beneficial ownership of the shares of common stock of the Issuer reported in this Schedule 13G.
• The reporting persons certify that the securities were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer.

Industry Context

StockSavvy.ai notes that Schedule 13G filings typically indicate passive investment stakes. The size of this stake (5.3%) suggests a notable position for Merced Capital in the offshore services sector, though without further context from Hornbeck Offshore's own filings, its strategic implications remain unclear.

Stakeholder Impact

• Shareholders: The filing indicates a significant minority shareholder, which could influence future corporate actions or governance discussions.
• Management: The presence of a substantial passive investor may be noted by management, though no direct impact is detailed.

Next Steps

• No specific next steps are outlined in this filing.

Key Dates

Keywords

Hornbeck Offshore Services, Merced Capital, Schedule 13G, Beneficial Ownership, Investment, Common Stock, Securities Exchange Act