Nabors Energy Transition II: Form 3 discloses 1.88M shares

Rhea-AI Filing Summary

Nabors Energy Transition Corp. II (NETD) received a Form 3 initial ownership filing. Funicular Funds, LP, its general partner Cable Car Capital, LP, and Jacob Ma‑Weaver reported beneficial ownership of 1,875,115 Class A Ordinary Shares (Direct). The event date is 10/16/2025.

The reporting persons state they may be deemed to beneficially own more than 10% due to the Fund’s holdings and disclaim beneficial ownership except to the extent of their pecuniary interest.

Insider Trade Summary

1 transaction reported

Mixed 1 txn

Insider Funicular Funds, LP, Cable Car Capital, LP, Ma-Weaver Jacob

Role 10% Owner | Insider | Insider

Type	Security	Shares	Price	Value
holding	Class A Ordinary Shares, $0.0001 par value	--	--	--

Holdings After Transaction: Class A Ordinary Shares, $0.0001 par value — 1,875,115 shares (Direct)

Footnotes (1)

Understanding Insider Trading Forms →

SEC Form 3

FORM 3

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0104
Estimated average burden
hours per response:			0.5

1. Name and Address of Reporting Person^*

Funicular Funds, LP

(Last) (First) (Middle)

601 CALIFORNIA STREET

SUITE 1151

(Street)

SAN FRANCISCO CA 94108

(City) (State) (Zip)

2. Date of Event Requiring Statement (Month/Day/Year)
10/16/2025

3. Issuer Name and Ticker or Trading Symbol
Nabors Energy Transition Corp. II [ NETD ]

4. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

	Director	X	10% Owner
	Officer (give title below)		Other (specify below)

5. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

	Form filed by One Reporting Person
X	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Beneficially Owned
1. Title of Security (Instr. 4)	2. Amount of Securities Beneficially Owned (Instr. 4)	3. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	4. Nature of Indirect Beneficial Ownership (Instr. 5)
Class A Ordinary Shares, $0.0001 par value	1,875,115	D

Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 4)	2. Date Exercisable and Expiration Date (Month/Day/Year)		3. Title and Amount of Securities Underlying Derivative Security (Instr. 4)		4. Conversion or Exercise Price of Derivative Security	5. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	6. Nature of Indirect Beneficial Ownership (Instr. 5)
	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

1. Name and Address of Reporting Person^*

Funicular Funds, LP

(Last) (First) (Middle)

601 CALIFORNIA STREET

SUITE 1151

(Street)

SAN FRANCISCO CA 94108

(City) (State) (Zip)

Relationship of Reporting Person(s) to Issuer

	Director	X	10% Owner
	Officer (give title below)		Other (specify below)

1. Name and Address of Reporting Person^*

Cable Car Capital, LP

(Last) (First) (Middle)

601 CALIFORNIA STREET

SUITE 1151

(Street)

SAN FRANCISCO CA 94108

(City) (State) (Zip)

Relationship of Reporting Person(s) to Issuer

	Director		10% Owner
	Officer (give title below)	X	Other (specify below)
			See Footnote 1

1. Name and Address of Reporting Person^*

Ma-Weaver Jacob

(Last) (First) (Middle)

601 CALIFORNIA STREET

SUITE 1151

(Street)

SAN FRANCISCO CA 94108

(City) (State) (Zip)

Relationship of Reporting Person(s) to Issuer

	Director		10% Owner
	Officer (give title below)	X	Other (specify below)
			See Footnote 1

Explanation of Responses:

Remarks:

1. This Form 3 is being filed by Funicular Funds, LP (the "Fund"), its general partner Cable Car Capital, LP ("Cable Car"), and Jacob Ma-Weaver. The Fund, Cable Car, and Mr. Ma-Weaver may each be deemed to beneficially own more than 10% of the Issuer's outstanding shares of Common Stock due to the Fund's ownership. Each of the Reporting Persons disclaims beneficial ownership of the securities reported herein except to the extent of his or its pecuniary interest therein.

	Jacob Ma-Weaver, Managing Member of the General Partner	10/23/2025
	Jacob Ma-Weaver, Managing Member of the General Partner	10/23/2025
	Jacob Ma-Weaver	10/23/2025
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 5 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.

FAQ

What did NETD disclose in this filing?

A Form 3 initial statement of beneficial ownership was filed for Nabors Energy Transition Corp. II.

Who are the reporting persons for NETD (NETD)?

Funicular Funds, LP, its general partner Cable Car Capital, LP, and Jacob Ma‑Weaver.

How many NETD shares were reported as beneficially owned?

1,875,115 Class A Ordinary Shares were reported with Direct ownership.

What is the event date on the Form 3 for NETD?

The event date is 10/16/2025.

Did the filing indicate 10% ownership status for NETD?

The reporting persons state they may be deemed to beneficially own more than 10% due to the Fund’s ownership.

Were any derivative securities reported for NETD?

No derivative securities are listed in Table II of the filing excerpt.

Did the reporting persons include a disclaimer?

Yes. They disclaim beneficial ownership except to the extent of their pecuniary interest.