The 13D filing signals that a large insider/director is actively accumulating shares at current levels, which typically precedes engagement on strategic or operational matters. Monitor for any subsequent 13D amendments detailing specific proposals or demands, as well as any changes in the company's capital allocation or operational strategy.
Price Chart
Executive Summary
Tor Olav Troim, through Drew Holdings Ltd., filed a Schedule 13D disclosing beneficial ownership of 37,367,808 common shares (12.2% of outstanding) of Borr Drilling Ltd. The filing upgrades from a prior Schedule 13G, triggered by open-market purchases of 10.6 million shares over the past 60 days at an aggregate cost of approximately $46.5 million. Troim, a director of Borr, states the shares were acquired for investment purposes and may engage in discussions regarding governance, management, and operations.
Key Financial Metrics
Key Facts
- Drew Holdings Ltd. and Tor Olav Troim beneficially own 37,367,808 common shares, representing 12.2% of 307,391,018 shares outstanding.
- The filing upgrades from Schedule 13G to 13D due to acquiring more than 2% of shares outstanding in the preceding 12 months.
- Open-market purchases in the past 60 days total 10.6 million shares at average prices ranging from $4.0245 to $4.7374 per share.
- Troim serves as a director of Borr Drilling and receives compensatory equity awards under the company's Long-Term Incentive Plan.
- No specific demands or plans for actions enumerated in Item 4 of Schedule 13D were disclosed.
Financial Impact
Recent open-market purchases of 10.6 million shares at an aggregate cost of approximately $46.5 million, representing a significant insider vote of confidence.
Risk Factors
- Troim's stated purpose is vague ('investment purposes'), leaving uncertainty about future activist steps.
- The offshore drilling sector is cyclical and sensitive to oil price fluctuations, which could impact Borr's financial performance.
Investment Themes
Documents Analyzed
This report is based on 4 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| SC 13D Filing (Primary) | 0001193125-26-420407 |
| Document: 0001193125-26-420407-index-headers.html | 0001193125-26-420407 |
| Document: 0001193125-26-420407-index.html | 0001193125-26-420407 |
| Document: 0001193125-26-420407.txt | 0001193125-26-420407 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 26, 2026 today | 6-K | $4.07 | awaiting T+5 | — | $3.96 (+2.71%) |
Oct 16, 2026 10d ago | Insider Cluster | $4.54 $4.40 | ▼ −3.08% | ▼ −2.65% | $3.96 (−12.78%) |
Oct 16, 2026 10d ago | 6-K | $4.54 $4.40 | ▼ −3.08% | ▼ −3.18% | $3.96 (−12.78%) |
Oct 15, 2026 11d ago | SC 13D/A | $4.54 $4.40 | ▼ −3.08% | ▼ −2.65% | $3.96 (−12.78%) |
Oct 13, 2026 13d ago | SC 13D | $4.68 $4.22 | ▼ −9.83% | ▼ −10.28% | $3.96 (−15.38%) |
Oct 1, 2026 25d ago | 6-K | $4.05 $4.61 | ▲ +13.83% | ▲ +12.53% | $3.96 (−2.22%) |
Sep 21, 2026 5w ago | Insider Cluster | $4.43 $4.01 | ▼ −9.48% | ▼ −8.46% | $3.96 (−10.61%) |
Sep 16, 2026 5w ago | 6-K | $4.23 $4.36 | ▲ +3.07% | ▲ +1.25% | $3.96 (−6.38%) |
Sep 15, 2026 5w ago | Press Release | $4.23 $4.36 | ▲ +3.07% | ▲ +1.25% | $3.96 (−6.38%) |
Sep 15, 2026 5w ago | 6-K | $4.36 $4.46 | ▲ +2.29% | ▲ +1.48% | $3.96 (−9.17%) |
US Market Status
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