Granular Capital (BORR) discloses 40.1M-share, 13.01% holding in Borr Drilling

Rhea-AI Filing Summary

Granular Capital Ltd, a UK-based investment firm, reports its beneficial ownership of Borr Drilling Ltd common stock in this amended Schedule 13G filing. Granular Capital holds 40,145,132 shares, representing 13.01% of the outstanding common stock. It reports sole power to vote and dispose of all these shares, with no shared voting or dispositive power. Granular Capital is organized under the laws of the United Kingdom and is authorized and regulated by the UK Financial Conduct Authority as a non-U.S. institution functionally equivalent to a U.S. registered investment adviser.

Key Figures

Shares beneficially owned: 40,145,132 shares Percent of class: 13.01% Sole voting power: 40,145,132 shares +3 more

6 metrics

Shares beneficially owned 40,145,132 shares Common Stock of Borr Drilling Ltd reported by Granular Capital Ltd

Percent of class 13.01% Portion of Borr Drilling Ltd common stock class held by Granular Capital Ltd

Sole voting power 40,145,132 shares Shares over which Granular Capital Ltd has sole power to vote

Shared voting power 0 shares Shares over which Granular Capital Ltd has shared power to vote

Sole dispositive power 40,145,132 shares Shares over which Granular Capital Ltd has sole power to dispose

Shared dispositive power 0 shares Shares over which Granular Capital Ltd has shared power to dispose

Key Terms

beneficially owned, Sole power to vote, dispositive power, non-U.S. institution, +1 more

5 terms

beneficially owned financial

"Item 4. | Ownership (a) | Amount beneficially owned: 40145132"

Beneficially owned describes securities or assets where a person has the economic rights and control—such as the right to receive dividends and to direct voting—even if legal title is held in another name. Think of it like having the keys and using a car that’s registered to someone else: you get the benefits and make decisions. Investors care because beneficial ownership reveals who truly controls value and voting power, affecting corporate decisions and takeover dynamics.

Sole power to vote financial

"(i) Sole power to vote or to direct the vote: 40145132"

dispositive power financial

"(iii) Sole power to dispose or to direct the disposition of: 40145132"

Dispositive power is the authority to decide the final outcome of an asset, legal claim, contract, or corporate action — in effect the power to dispose of or resolve something. For investors it matters because whoever holds that authority can determine who gets paid, who controls an asset or vote, and how risks and returns are allocated; think of it like holding the key that lets you lock in the winner or loser in a deal.

non-U.S. institution regulatory

"The filing person certifies that it is a non-U.S. institution that is the functional equivalent"

Investment Advisers Act of 1940 regulatory

"equivalent of an investment adviser registered under Section 203 of the Investment Advisers Act of 1940"

A U.S. federal law that sets rules for people and firms who give investment advice, requiring them to register with regulators, be honest about conflicts, keep records, and follow basic standards of care. It matters to investors because those rules act like licensing and consumer protections — similar to having safety standards for a mechanic — helping ensure advisers act in clients’ financial interests and reducing the risk of fraud or misuse of funds.

FAQ

What percentage of Borr Drilling Ltd (BORR) does Granular Capital currently own?

Granular Capital Ltd reports beneficial ownership of 13.01% of Borr Drilling Ltd’s common stock, representing 40,145,132 shares. This ownership is disclosed in an amended Schedule 13G filing, indicating a significant institutional position in the company.

How many Borr Drilling Ltd (BORR) shares does Granular Capital control?

Granular Capital Ltd reports beneficial ownership of 40,145,132 Borr Drilling Ltd common shares. It has sole power to vote and sole power to dispose of all these shares, with no reported shared voting or dispositive authority.

Does Granular Capital share voting power over BORR shares with any other party?

No. Granular Capital Ltd reports sole voting power over 40,145,132 Borr Drilling Ltd shares and 0 shared voting power. It likewise reports sole dispositive power over the same number of shares and no shared dispositive power.

What is Granular Capital’s regulatory status in this BORR Schedule 13G/A filing?

Granular Capital Ltd certifies it is a non-U.S. institution functionally equivalent to an investment adviser registered under Section 203 of the Investment Advisers Act of 1940 and is authorized and regulated by the UK Financial Conduct Authority.

Where is Granular Capital, the reporting holder of BORR shares, based?

Granular Capital Ltd’s principal business office is at 4-5 Manchester Square, London W1U 3PD, United Kingdom. It is organized under the laws of the United Kingdom and regulated by the UK Financial Conduct Authority as stated in the filing.

Who signed the Schedule 13G/A reporting Granular Capital’s BORR holdings?

The Schedule 13G/A was signed by Darren Mirams, identified as Chief Compliance Officer of Granular Capital Ltd. The signature section also includes a certification regarding the firm’s foreign regulatory status and its comparability to U.S. investment adviser regulation.

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Available on EDGAR 08/14/2026 - 02:29 PM Accepted by SEC EDGAR 08/14/2026 - 02:29 PM Learn about SEC filing dates

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

(Amendment No. 1)

Borr Drilling Ltd

(Name of Issuer)

Common Stock

(Title of Class of Securities)

GR1466R173

(CUSIP Number)

11/25/2024

(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)

schemaVersion:

SCHEDULE 13G

CUSIP Number(s): GR1466R173

1

Names of Reporting Persons

Granular Capital 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

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power
6	Shared Voting Power
7	Sole Dispositive Power
8	Shared Dispositive Power

9

Aggregate Amount Beneficially Owned by Each Reporting Person

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)

12

Type of Reporting Person (See Instructions)

SCHEDULE 13G

Item 1.
(a)	Name of issuer: Borr Drilling Ltd
(b)	Address of issuer's principal executive offices: S.E. PEARMAN BUILDING, S.E. PEARMAN BUILDING, HAMILTON, BERMUDA, HM11.
Item 2.
(a)	Name of person filing: Granular Capital Ltd
(b)	Address or principal business office or, if none, residence: Granular Capital Ltd 4-5 Manchester Square London W1U 3PD United Kingdom
(c)	Citizenship: Granular Capital Ltd is a company organized under the laws of the United Kingdom
(d)	Title of class of securities: Common Stock
(e)	CUSIP No.: GR1466R173
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).
	The filing person certifies that it is a non-U.S. institution that is the functional equivalent of an investment adviser registered under Section 203 of the Investment Advisers Act of 1940 and is subject to a regulatory scheme (authorized and regulated by the UK Financial Conduct Authority) substantially comparable to the regulatory scheme applicable to the equivalent U.S. institution.
Item 4.	Ownership
(a)	Amount beneficially owned: 40145132
(b)	Percent of class: 13.01%
(c)	Number of shares as to which the person has:
	(i) Sole power to vote or to direct the vote: 40145132
	(ii) Shared power to vote or to direct the vote: 0
	(iii) Sole power to dispose or to direct the disposition of: 40145132
	(iv) Shared power to dispose or to direct the disposition of: 0
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:

By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under ? 240.14a-11. By signing below I certify that, to the best of my knowledge and belief, the foreign regulatory scheme applicable to Investment Adviser is substantially comparable to the regulatory scheme applicable to the functionally equivalent U.S. institution(s). I also undertake to furnish to the Commission staff, upon request, information that would otherwise be disclosed in a Schedule 13D.

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.

Granular Capital Ltd

Signature:	Darren Mirams
Name/Title:	Chief Compliance Officer
Date:	08/14/2026