What smart money is saying about Transocean Ltd.
1 fund in our archive has pitched Transocean Ltd. — most recently Pabrai Wagons Fund in December 2025.
Transocean Ltd., together with its subsidiaries, provides offshore contract drilling services for oil and gas wells worldwide. It contracts its mobile offshore drilling rigs, related equipment, and work crews to drill oil and gas wells. As of February 14, 2022, the company had partial ownership interests in and operated a fleet of 37 mobile offshore drilling units, including 27 ultra-deep water and 10 harsh environment floaters. It serves integrated energy companies, government-owned or government-controlled oil companies, and other independent energy companies. The company was founded in 1926 and is based in Steinhausen, Switzerland.
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Position history
Between Q4 2025 and Q2 2026, 2 fund letters reported a position in Transocean Ltd., with no move described.
| Quarter | Letters | Bought | Sold | Theses |
|---|---|---|---|---|
| Q2 2026 | 2 | 0 | 0 | 0 |
| Q4 2025 | 0 | 0 | 0 | 1 |
Fund activity · 2 positions
- June 2026
“The largest detractors were U.S. gulf coast chemicals producers, Westlake and LyondellBasell, and Transocean, an offshore driller. The common theme across the companies is that they all have sensitivity to the oil price, which weakened following the apparent reopening of the Strait of Hormuz. We own these businesses as expressions of other cycles – Westlake and LyondellBasell are owned as cost-advantaged producers in deeply depressed chemicals markets, while Transocean provides exposure to the market repair underway in offshore rigs.”
Transocean Ltd. - HoldsPacker & Co Investigator TrustJune 2026
Listed in Packer & Co Investigator Trust’s reported holdings.
Transocean Ltd.
Also mentioned · 1
These funds discuss Transocean Ltd. — as a competitor, benchmark or comparable — without disclosing a position in it.
- MentionedThird Avenue Value FundMarch 2026
“During the quarter, Valaris became the subject of a takeover offer from a larger industry peer, Transocean.”
Transocean Ltd.
Fund coverage · 1 thesis
- Pabrai Wagons FundDecember 2025
Transocean is positioned to benefit from tight offshore drillship supply and potential $1M+ day rates that could drive outsized free cash flow versus its sub-$5B market cap.
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