Drew Holdings reports 8.2% stake in Borr Drilling (NYSE: BORR) through trust

Rhea-AI Filing Summary

Borr Drilling Limited reported that Drew Holdings Ltd. beneficially owns 25,122,941 common shares, representing 8.2% of the company’s outstanding common stock. Drew Holdings has sole power to vote and dispose of all these shares, with no shared voting or dispositive power.

The shares are owned by Drew Holdings Ltd., which is wholly owned by Drew Trust, a non-discretionary Bermuda trust in which Mr. Tor Olav Troim is the beneficiary, so the stake may be deemed beneficially owned by him. The filing is an Amendment No. 3 to a Schedule 13G, reflecting ownership as of December 31, 2025.

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Accepted by SEC EDGAR 02/17/2026 - 06:02 AM Learn about SEC filing dates

FAQ

What percentage of BORR does Drew Holdings Ltd. own?

Drew Holdings Ltd. owns 8.2% of Borr Drilling Limited’s common shares. The filing reports beneficial ownership of 25,122,941 common shares, giving Drew Holdings a significant minority stake with sole voting and dispositive power over all of these shares.

How many Borr Drilling (BORR) shares are beneficially owned by Drew Holdings?

Drew Holdings Ltd. beneficially owns 25,122,941 Borr Drilling common shares. The Schedule 13G/A states this entire amount is subject to Drew Holdings’ sole voting and dispositive power, with no shares reported as shared with other parties.

Who may be deemed the ultimate beneficial owner of BORR shares held by Drew Holdings?

Mr. Tor Olav Troim may be deemed the beneficial owner. The filing explains that Drew Holdings is wholly owned by Drew Trust, a non-discretionary Bermuda trust in which Mr. Troim is the beneficiary, so the 25,122,941 shares may be attributed to him.

What type of SEC filing did Drew Holdings submit for BORR?

Drew Holdings submitted an Amendment No. 3 to Schedule 13G. This updated beneficial ownership report covers Borr Drilling Limited common shares, reflecting holdings as of December 31, 2025 and detailing the percentage owned and voting and dispositive powers.

Does Drew Holdings share voting power over BORR shares with any other party?

No, Drew Holdings reports sole voting and dispositive power. The Schedule 13G/A states 25,122,941 Borr Drilling common shares are under sole voting and sole dispositive power, with shared voting and shared dispositive power each reported as zero.

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

(Amendment No. 3)

Borr Drilling Limited

(Name of Issuer)

Common shares

(Title of Class of Securities)

G1466R173

(CUSIP Number)

12/31/2025

(Date of Event Which Requires Filing of this Statement)

Check the appropriate box to designate the rule pursuant to which this Schedule is filed:

Rule 13d-1(b)

Rule 13d-1(c)

Rule 13d-1(d)

SCHEDULE 13G

CUSIP No. G1466R173

1

Names of Reporting Persons

Drew Holdings Ltd.

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

BERMUDA

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 25,122,941.00
6	Shared Voting Power 0.00
7	Sole Dispositive Power 25,122,941.00
8	Shared Dispositive Power 0.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

25,122,941.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

8.2 %

12

Type of Reporting Person (See Instructions)

CO

SCHEDULE 13G

Item 1.
(a)	Name of issuer: Borr Drilling Limited
(b)	Address of issuer's principal executive offices: S. E. Pearman Building, 2nd floor, 9 Par-la-Ville Road, Hamilton HM 11, Bermuda
Item 2.
(a)	Name of person filing: Drew Holdings Ltd.
(b)	Address or principal business office or, if none, residence: Drew Holdings Ltd. 19 Par-la-Ville Road, 1st Floor Hamilton HM 11 Bermuda
(c)	Citizenship: Drew Holdings Ltd. is incorporated under the laws of Bermuda
(d)	Title of class of securities: Common shares
(e)	CUSIP No.: G1466R173
Item 3.	If this statement is filed pursuant to §§ 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:
(a)	Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o);
(b)	Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c);
(c)	Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c);
(d)	Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8);
(e)	An investment adviser in accordance with § 240.13d-1(b)(1)(ii)(E);
(f)	An employee benefit plan or endowment fund in accordance with § 240.13d-1(b)(1)(ii)(F);
(g)	A parent holding company or control person in accordance with § 240.13d-1(b)(1)(ii)(G);
(h)	A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);
(i)	A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3);
(j)	A non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J). If filing as a non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J), please specify the type of institution:
(k)	Group, in accordance with Rule 240.13d-1(b)(1)(ii)(K).
Item 4.	Ownership
(a)	Amount beneficially owned: 25,122,941 The 25,122,941 common shares of Borr Drilling owned by Drew Holdings Ltd may be deemed to be beneficially owned by Mr. Tor Olav Troim, as Drew Holdings Ltd. is wholly owned by Drew Trust, a non-discretionary trust established in Bermuda in which Mr. Troim is the beneficiary.
(b)	Percent of class: 8.2 %
(c)	Number of shares as to which the person has:
	(i) Sole power to vote or to direct the vote: 25,122,941
	(ii) Shared power to vote or to direct the vote: 0
	(iii) Sole power to dispose or to direct the disposition of: 25,122,941
	(iv) Shared power to dispose or to direct the disposition of: 0
Item 5.	Ownership of 5 Percent or Less of a Class.
	Not Applicable
Item 6.	Ownership of more than 5 Percent on Behalf of Another Person.
	Not Applicable
Item 7.	Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person.
	Not Applicable
Item 8.	Identification and Classification of Members of the Group.
	Not Applicable
Item 9.	Notice of Dissolution of Group.
	Not Applicable

Item 10.	Certifications:
	Not Applicable

SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

Drew Holdings Ltd.

Signature:	/s/ Erling Lind
Name/Title:	Director
Date:	02/17/2026