What smart money is saying about Valaris Limited
5 funds in our archive have pitched Valaris Limited — most recently Third Avenue Value Fund in June 2026.
Valaris Limited, together with its subsidiaries, provides offshore contract drilling services in Brazil, the United Kingdom, Gulf of America, Australia, Angola, and internationally. It operates through four segments: Floaters, Jackups, ARO, and Other. The company owns an offshore drilling rig fleet, which includes drillships, dynamically positioned semisubmersible rigs, a moored semisubmersible rig, and jackup rigs. It also offers management services on rigs owned by third parties. The company serves international, government-owned, and independent oil and gas companies. Valaris Limited was founded in 1975 and is based in Hamilton, Bermuda.
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Position history
Between Q4 2024 and Q2 2026, 5 fund letters reported a position in Valaris Limited — 1 opened or added to the position.
| Quarter | Letters | Bought | Sold | Theses |
|---|---|---|---|---|
| Q2 2026 | 4 | 1 | 0 | 2 |
| Q1 2026 | 1 | 0 | 0 | 1 |
| Q4 2024 | 0 | 0 | 0 | 2 |
Fund activity · 5 positions · 1 move
- HoldsPacker & Co Investigator TrustJune 2026
Listed in Packer & Co Investigator Trust’s reported holdings.
Valaris Limited - June 2026
“• Valaris (-27%) and Seadrill (-18%), two of the world’s largest offshore drilling companies, detracted as Brent’s approximately 30% decline weighed on sector sentiment. The structural thesis for deepwater drilling remains intact: the most cost-efficient and politically safe incremental barrels of global oil supply come from offshore deepwater, onshore shale production growth is decelerating, and the rig supply environment remains structurally constrained. Evidence came in a recent fixture for competitor Noble Corporation, which signed its Viking for US$460,000/day for 10 months of work starting in 2028. This is the first >$450k/d contract for a 7th generation drillship greater than 1-well in duration since March 2025, confirming our view that the market is tightening. Regulatory approvals for the Transocean-Valaris combination continue to progress and we remain happy to own the merged entity. We have been adding to our position, mainly via Seadrill, and maintain high conviction.”
Valaris Limited - June 2026
“Key stock detractors to performance over the Quarter included: • Offshore drilling operator Valaris finished lower in line with lower oil prices and softer investor sentiment toward energy services companies given reduced expectations for offshore drilling activity.”
Valaris Limited - June 2026
“• Offshore drilling operator Valaris finished lower in line with lower oil prices and softer investor sentiment toward energy services companies given reduced expectations for offshore drilling activity.”
Valaris Limited - March 2026
“In the Fund’s Q4 2025 shareholder letter, we explained that the Fund’s energy industry exposure lies mostly within offshore energy services businesses, Tidewater, Valaris and Subsea 7.”
Valaris Limited
Fund coverage · 5 theses
- Third Avenue Value FundJune 2026
Valaris Limited is supported by offshore drilling fleet scarcity and a strengthening energy-security thesis.
Read the full thesis - Antipodes Global SMID Active ETFJune 2026
Valaris is owned for its exposure to structurally tight deepwater drilling markets, where offshore barrels remain attractive and pricing is strengthening.
Read the full thesis - Third Avenue Value FundMarch 2026
Valaris is a well-capitalized offshore drilling company with a hard-to-replicate fleet, a cyclical recovery in offshore demand, and potential long-term benefits from increased energy security spending.
Read the full thesis - Night WatchDecember 2024
Valaris is positioned to capitalize on the offshore energy sector's recovery, despite a temporary market pause, offering an attractive investment opportunity due to its modern fleet and significant profit potential.
Read the full thesis - Praetorian CapitalDecember 2024
Valaris is a compelling investment opportunity due to its strong asset base, potential for significant cash flow growth, and downside protection from a robust backlog and balance sheet.
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