What smart money is saying about McDermott International Ltd.
2 funds in our archive have pitched McDermott International Ltd., most recently Pender Credit Opportunities Fund in September 2026.
Operating globally, McDermott International Ltd. specializes in delivering tailored engineering and construction services to the energy sector. The company provides integrated solutions covering engineering, procurement, construction, and installation (EPCI), particularly for complex offshore field developments. McDermott is also deeply involved in the full project lifecycle for liquefied natural gas (LNG) facilities, from initial concept development and design to fabrication, construction, commissioning, start-up, and ongoing operations. Additionally, its capabilities encompass the design and construction of various downstream oil and gas infrastructure, including processing plants, storage facilities, tanks, and terminals. Furthermore, the firm offers complete design, engineering, procurement, fabrication, construction, and commissioning services for power generation plants fueled by natural gas, solid fuels, and renewable energy sources. Established in 2020, McDermott International Ltd. has its corporate headquarters in Houston, Texas.
Get an email when a fund buys, sells or pitches it
Position history
Between Q4 2025 and Q4 2026, 4 fund letters reported a position in McDermott International Ltd., with no move described.
| Quarter | Letters | Bought | Sold | Theses |
|---|---|---|---|---|
| Q4 2026 | 1 | 0 | 0 | 0 |
| Q3 2026 | 3 | 0 | 0 | 1 |
| Q4 2025 | 0 | 0 | 0 | 1 |
Bought and Sold count moves: the same sentence published by several funds of one house in a quarter counts once.
Fund activity · 4 positions
- October 2026
“Macro is going to walk its own path, but the Fund is also poised to gain from a large number of catalysts which could create large gains in key holdings. Potential IPO/uplisting may spark meaningful gains in successfully re-organized holdings like McDermott International Ltd. (MCDIF) and Cineworld Group plc.”
McDermott International Ltd. - August 2026
“McDermott – Was a top contributor for a second straight month, as the market started pricing in some of the value we've been underwriting ahead of it. We continue to view McDermott as an attractive reorganization equity opportunity, one where Pender's fixed income team's expertise proved valuable, particularly in analyzing the company's restructuring, capital structure, and the value of the securities that emerged from that process.”
McDermott International Ltd. - July 2026
“One notable area of strength in July was our equity position in McDermott International Ltd. (MCDIF), which was a top contributor for the month.”
McDermott International Ltd. - July 2026
“Portfolio Holdings – Updates Top Contributors (July) Contribution Top Detractors (July) Contribution General Fusion Group Ltd. (GFUZ) 986.8 bps MDA Space Ltd. (MDA) –60.6 bps McDermott International Ltd. (MCDIF) 122.2 bps”
McDermott International Ltd.
Fund coverage · 2 theses
- Pender Credit Opportunities FundSeptember 2026
McDermott International is the only remaining pure-play energy contractor, now debt-free after restructuring and trading at about 3x EBITDA with EBITDA growth and a potential listing ahead.
Read the full thesis - Alluvial CapitalDecember 2025
McDermott International Ltd is an energy engineering and construction firm recovering post-bankruptcy with rising EBITDA, contract wins and relisting plans that could drive substantial upside.
Read the full thesis
Read every full thesis on McDermott International Ltd.
Read all 2 theses in full, with each fund's reasoning, and get unlimited access to the archive.
View plans→