Key Points
New position: 2,182,136 shares acquired; estimated trade size $8.79 million (based on average quarterly price)
Quarter-end position value increased by $8.79 million due to the new position establishment
Transaction established a new position representing 1.57% of 13F reportable assets under management
Post-trade: fund held 2,182,136 shares, valued at $8.79 million
Borr Drilling stake represents 1.57% of Mason Capital’s reportable assets and is outside the fund’s top five holdings
On February 17, 2026, Mason Capital Management LLC disclosed a new position in Borr Drilling Limited(NYSE:BORR), acquiring 2,182,136 shares in an estimated $8.79 million trade based on quarterly average pricing.
What Happened
According to a Securities and Exchange Commission (SEC) filing dated February 17, 2026, Mason Capital Management LLC established a new position in Borr Drilling Limited, purchasing 2,182,136 shares. The estimated transaction value was $8.79 million based on the average share price during the filing quarter. The fund’s quarter-end stake in Borr Drilling Limited was valued at $8.79 million, with nine total positions reported.
What Else to Know
Mason Capital’s new position in Borr Drilling Limited represented 1.57% of its reportable assets under management as of December 31, 2025.
Top holdings after the filing:
- NYSE:ATS: $428.62 million (76.3% of AUM)
- NYSE:BKD: $38.69 million (6.9% of AUM)
- NASDAQ:SOLS: $30.79 million (5.5% of AUM)
- NYSE:CCO: $21.72 million (3.9% of AUM)
- NYSE:JBS: $18.83 million (3.4% of AUM)
As of February 17, 2026, shares of Borr Drilling Limited were priced at $5.43, up 78.6% over the prior year, outperforming the S&P 500 by 62.68 percentage points.
Company Overview
| Metric | Value |
|---|---|
| Market Capitalization | $1.37 billion |
| Revenue (TTM) | $1.02 billion |
| Net Income (TTM) | $75.30 million |
| Price (as of market close 2/17/26) | $5.43 |
Company Snapshot
- Operates a fleet of jack-up drilling rigs, providing offshore drilling services and related equipment for shallow-water oil and gas exploration and production.
- Generates revenue primarily through long-term contracts with oil and gas companies, charging for rig usage, crew services, and associated operational support.
- Serves integrated oil majors, national oil companies, and independent exploration and production firms across global offshore markets.
Borr Drilling Limited is a global offshore drilling contractor specializing in shallow-water jack-up rigs, with a significant operational fleet and a focus on efficiency and safety. The company leverages its modern rig portfolio and technical expertise to meet the evolving needs of oil and gas clients.
What This Transaction Means for Investors
Mason Capital, a New York-based hedge fund, recently disclosed a purchase of more than 2.1 million shares of Borr Drilling, an energy stock. Here are some key takeaways for investors.
First, Borr stock has been on fire recently. Led by the rapid rise in oil prices, Borr stock has advanced by about 150% over the last 12 months.
Much of this success is linked to the rising demand for the company’s jack-up drilling rigs, which is also affected by the rising price of crude oil. However, there are also company-specific reasons for the stock’s performance.
For one, the company has successful managed its balance sheet in recent quarters by reducing its overall debt load. Net financial debt has decreased from a high of $2.05 billion to $1.77 billion. What’s more, annual revenue has climbed to over $1 billion — surpassing a key level for the company.
Granted, like any stock, there are concerns. Oil prices could collapse, weighing on the stock. In addition, demand for offshore drilling could weaken. However, given the recent spike in oil prices, these concerns seem outweighed by current conditions.
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Jake Lerch has no position in any of the stocks mentioned. The Motley Fool recommends ATS Corp. The Motley Fool has a disclosure policy.
