SCHEDULE: Wolverine Discloses 7.19% Stake in Nabors Energy Transition II

Wolverine Asset Management and related entities have disclosed a 7.19% beneficial ownership stake in Nabors Energy Transition Corp. II.

Summary

• Wolverine Asset Management LLC, along with Wolverine Trading Partners, Inc., Wolverine Holdings, L.P., Christopher L. Gust, and Robert R. Bellick, collectively reported beneficial ownership of 987,310 Class A Ordinary Shares of Nabors Energy Transition Corp. II.
• This ownership represents 7.19% of the issuer's Class A Ordinary Shares outstanding.
• The shares were acquired and are held in the ordinary course of business, not for the purpose of changing or influencing control of the issuer.
• The percentage was calculated based on 13,724,863 Class A Ordinary Shares outstanding as of August 14, 2025, as reported in the issuer's Form 10-Q for June 30, 2025.
• Wolverine Flagship Fund Trading Limited is known to have the right to receive dividends or proceeds from the sale of these securities.

Sentiment

Score: 6

Explanation: The disclosure of a 7.19% beneficial ownership by a reputable asset management firm is a neutral to slightly positive signal, indicating institutional interest in Nabors Energy Transition Corp. II. However, the filing provides no operational or financial performance data to assess the company's intrinsic value or future prospects.

Positives

• A significant institutional investor, Wolverine Asset Management, has taken a substantial stake, potentially indicating confidence in the company's future.

Negatives

• No specific negatives are disclosed in this beneficial ownership report.

Risks

• No specific risks related to the issuer's operations or financial health are disclosed in this beneficial ownership report. The filing is solely about ownership structure.

Future Outlook

NA

Management Comments

• 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.

Industry Context

This filing indicates an institutional investor's position in a company focused on energy transition, a sector currently experiencing significant investment and strategic interest due to global decarbonization efforts. The investment by Wolverine Asset Management, a known trading and asset management firm, suggests a belief in the potential of Nabors Energy Transition Corp. II within this evolving industry landscape.

Comparison to Industry Standards

• This filing is a standard Schedule 13G, which is a routine disclosure for institutional investors acquiring more than 5% of a company's shares without the intent to control. The 7.19% stake is a notable position for an institutional investor. There are no specific comparable companies or projects mentioned in the filing to assess results against.

Related Party Transactions

• Wolverine Flagship Fund Trading Limited is identified as having the right to receive dividends or proceeds from the sale of the Class A Ordinary Shares beneficially owned by Wolverine Asset Management LLC. This indicates a relationship where the fund is the ultimate economic beneficiary of the shares managed by WAM.

Stakeholder Impact

• Shareholders: The disclosure of a significant institutional stake may be viewed positively, potentially increasing market confidence and liquidity.
• Management: Awareness of a substantial institutional shareholder may influence strategic decisions, though the filing explicitly states the shares are not held for control purposes.

Next Steps

• The reporting persons would be required to file an amendment to this Schedule 13G if their beneficial ownership significantly changes (e.g., increases or decreases by more than 1% of the class).

Key Dates

Recommendation

This Schedule 13G filing primarily serves as a disclosure of beneficial ownership by an institutional investor group. While the 7.19% stake by Wolverine Asset Management and its affiliates indicates institutional interest, the filing itself does not provide sufficient financial or operational data to warrant a 'buy' or 'sell' recommendation. It is a factual report of a passive investment. Investors should 'hold' and integrate this information into their broader analysis of Nabors Energy Transition Corp. II, considering the company's fundamentals, industry outlook, and other market factors. The filing explicitly states the shares were not acquired for the purpose of changing or influencing control, suggesting a passive investment stance.

Keywords

Nabors Energy Transition Corp. II, Wolverine Asset Management, Wolverine Holdings, Wolverine Trading Partners, Christopher L. Gust, Robert R. Bellick, Schedule 13G, beneficial ownership, Class A Ordinary Shares, institutional investment, SEC filing