Cobas holds double-digit stake in Borr Drilling (NYSE: BORR)

Rhea-AI Filing Summary

COBAS ASSET MANAGEMENT, SGIIC, S.A., a Spanish investment manager, reported beneficial ownership of common shares of Borr Drilling Ltd. COBAS holds 31,331,960 common shares, representing 10.2% of the class. COBAS reports sole voting and sole dispositive power over all these shares, with no shared voting or dispositive power.

Key Figures

Beneficially owned shares: 31,331,960 shares Percent of class: 10.2 % Sole Voting Power: 31,331,960 +3 more

6 metrics

Beneficially owned shares 31,331,960 shares Common shares of Borr Drilling Ltd beneficially owned by COBAS ASSET MANAGEMENT

Percent of class 10.2 % Percentage of Borr Drilling Ltd common shares class owned by COBAS ASSET MANAGEMENT

Sole Voting Power 31,331,960 Shares over which COBAS ASSET MANAGEMENT has sole power to vote or direct the vote

Shared Voting Power 0 Shares over which COBAS ASSET MANAGEMENT has shared power to vote

Sole Dispositive Power 31,331,960 Shares over which COBAS ASSET MANAGEMENT has sole power to dispose or direct disposition

Shared Dispositive Power 0 Shares over which COBAS ASSET MANAGEMENT has shared power to dispose

Key Terms

beneficially owned, Sole Voting Power, Sole Dispositive Power, Percent of class

4 terms

beneficially owned financial

"Amount beneficially owned: 31,331,960"

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 Voting Power financial

"Sole Voting Power 31,331,960.00"

Sole voting power is the exclusive right to cast votes attached to a shareholder’s stock without needing approval from anyone else. Like holding the only remote control for a TV, it lets that holder decide corporate matters such as board members, mergers, and policy changes, making it important to investors because it concentrates control and can strongly influence a company’s strategy and the value of its shares.

Sole Dispositive Power financial

"Sole Dispositive Power 31,331,960.00"

Sole dispositive power is the exclusive legal authority to decide what happens to a security — for example, whether to sell, transfer, or retain shares — without needing anyone else’s permission. Investors care because it signals who truly controls the economic outcome of an investment: like holding the only key to a safe, the holder can realize gains or losses and may trigger regulatory reporting, insider rules, or influence over corporate ownership.

Percent of class financial

"Percent of class: 10.2 %"

Percent of class is the portion of a specific category of securities—such as a company’s common shares, preferred shares, or a bond series—that takes part in or approves a corporate action (vote, consent, tender, etc.). Investors watch this number because it reveals how much support or opposition exists within that particular shareholder group; like counting how many members of a club back a proposal, it can determine whether a plan passes or how influence is distributed.

FAQ

What percentage of Borr Drilling Ltd (BORR) shares does COBAS ASSET MANAGEMENT own?

COBAS ASSET MANAGEMENT beneficially owns 10.2% of Borr Drilling Ltd’s common shares. This corresponds to a significant minority stake that can influence shareholder votes given its sole voting power over the position.

How many Borr Drilling Ltd (BORR) shares are reported as owned by COBAS ASSET MANAGEMENT?

COBAS ASSET MANAGEMENT reports beneficial ownership of 31,331,960 Borr Drilling Ltd common shares. All of these shares are held with sole voting and sole dispositive power, and no portion is reported as shared.

Does COBAS ASSET MANAGEMENT have sole or shared voting power over BORR shares?

COBAS ASSET MANAGEMENT has sole voting power over 31,331,960 BORR shares and no shared voting power. This means it alone can decide how all these shares are voted in shareholder matters.

What dispositive power does COBAS ASSET MANAGEMENT report over Borr Drilling (BORR) shares?

COBAS ASSET MANAGEMENT reports sole dispositive power over 31,331,960 BORR shares and no shared dispositive power. Sole dispositive power means it controls decisions to sell or otherwise dispose of these shares.

Who signed the Schedule 13G filing for Borr Drilling Ltd (BORR)?

The Schedule 13G was signed by Francisco Garcia Parames, Chief Executive Officer of COBAS ASSET MANAGEMENT. His signature certifies the reported 31,331,960 shares and 10.2% beneficial ownership information on behalf of the filer.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Available on EDGAR 08/17/2026 - 11:33 AM Accepted by SEC EDGAR 08/17/2026 - 11:32 AM Learn about SEC filing dates

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

Borr Drilling Ltd

(Name of Issuer)

common shares

(Title of Class of Securities)

G1466R207

(CUSIP Number)

08/13/2026

(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): G1466R207

1

Names of Reporting Persons

cobas asset management, sgiic, s.a.

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

SPAIN

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 31,331,960.00
6	Shared Voting Power 0.00
7	Sole Dispositive Power 31,331,960.00
8	Shared Dispositive Power 0.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

31,331,960.00

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)

10.2 %

12

Type of Reporting Person (See Instructions)

FI

SCHEDULE 13G

Item 1.
(a)	Name of issuer: Borr Drilling Ltd
(b)	Address of issuer's principal executive offices: S.E. PEARMAN BUILDING, 2ND FLOOR 9 PAR-LA-VILLE ROAD, HAMILTON, BERMUDA, HM11
Item 2.
(a)	Name of person filing: COBAS ASSET MANAGEMENT, SGIIC, S.A.
(b)	Address or principal business office or, if none, residence: PASEO DE LA CASTELLANA, 53. 28046, MADRID. SPAIN.
(c)	Citizenship: SPAIN.
(d)	Title of class of securities: common shares
(e)	CUSIP Number(s): G1466R207
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: 31,331,960
(b)	Percent of class: 10.2 %
(c)	Number of shares as to which the person has:
	(i) Sole power to vote or to direct the vote: 31,331,960
	(ii) Shared power to vote or to direct the vote: 0
	(iii) Sole power to dispose or to direct the disposition of: 31,331,960
	(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:

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.

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.

cobas asset management, sgiic, s.a.

Signature:	FRANCISCO GARCIA PARAMES
Name/Title:	CHIEF EXECUTIVE OFFICER
Date:	08/17/2026