Filed: 8/14/2025ACC: 0001600698-25-000014
📋 What this filing means
ARMOR ADVISORS, L.L.C. filed this quarterly 13F‑HR report disclosing 17 equity positions with a total reported market value of $190.89M. This filing provides a transparent view of the manager's long equity holdings as of the quarter end.
17
Positions
$190.89M
Total AUM (reported)
2.86M
Total Shares
Allocation by class
GOLD SHS$42.68M22.4%
COM$37.33M19.6%
TR UNIT$27.80M14.6%
ORD$21.19M11.1%
COM UNIT LPI$19.07M10.0%
SPONSORED ADS$9.08M4.8%
IBOXX HI YD ETF$8.06M4.2%
Portfolio Concentration
Top 3$91.67M48.0%
4–10$75.32M39.5%
11–25$23.90M12.5%
Top 3 weight
48.0%
Top 10 weight
87.5%
Voting Authority Distribution
Total shares with voting rights: 2.86M
Sole
Full voting authority
2.86M
shares
% of voting shares100.0%
Shared
Joint voting authority
0.00
shares
% of voting shares0.0%
None
No voting authority
0.00
shares
% of voting shares0.0%
Investment Discretion (by position count)
Sole17
Shared0
Other0
Dominant voting typeSole · 100.0% of voting shares
Institutional Holdings17
Rows:
SPDR GOLD TR
SOLEShares140K
TypeSH
Market value$42.68M
22.36%
Sole
140K
Shared
0.00
None
0.00
SPDR S&P 500 ETF TR
SOLEShares45K
TypeSH
Market value$27.80M
14.57%
Sole
45K
Shared
0.00
None
0.00
CRH PLC
SOLEShares230.85K
TypeSH
Market value$21.19M
11.10%
Sole
230.85K
Shared
0.00
None
0.00
NAVIOS MARITIME PARTNERS L P
SOLEShares506.11K
TypeSH
Market value$19.07M
9.99%
Sole
506.11K
Shared
0.00
None
0.00
FRANCO NEV CORP
SOLEShares84.31K
TypeSH
Market value$13.82M
7.24%
Sole
84.31K
Shared
0.00
None
0.00
ROYAL GOLD INC
SOLEShares63.60K
TypeSH
Market value$11.31M
5.93%
Sole
63.60K
Shared
0.00
None
0.00
KASPI KZ JSC
SOLEShares107.01K
TypeSH
Market value$9.08M
4.76%
Sole
107.01K
Shared
0.00
None
0.00
FERGUSON ENTERPRISES INC
SOLEShares38.14K
TypeSH
Market value$8.30M
4.35%
Sole
38.14K
Shared
0.00
None
0.00
ISHARES TR
SOLEShares100K
TypeSH
Market value$8.06M
4.23%
Sole
100K
Shared
0.00
None
0.00
STAR BULK CARRIERS CORP
SOLEShares328.39K
TypeSH
Market value$5.66M
2.97%
Sole
328.39K
Shared
0.00
None
0.00
ICON PLC
SOLEShares34.34K
TypeSH
Market value$5.00M
2.62%
Sole
34.34K
Shared
0.00
None
0.00
FIRST CTZNS BANCSHARES INC N
SOLEShares2.50K
TypeSH
Market value$4.90M
2.57%
Sole
2.50K
Shared
0.00
None
0.00
HAFNIA LTD
SOLEShares825.38K
TypeSH
Market value$4.12M
2.16%
Sole
825.38K
Shared
0.00
None
0.00
BAIDU INC
SOLEShares42K
TypeSH
Market value$3.60M
1.89%
Sole
42K
Shared
0.00
None
0.00
FRONTLINE PLC
SOLEShares190.33K
TypeSH
Market value$3.12M
1.64%
Sole
190.33K
Shared
0.00
None
0.00
ISHARES SILVER TR
SOLEShares72.78K
TypeSH
Market value$2.39M
1.25%
Sole
72.78K
Shared
0.00
None
0.00
SEABRIDGE GOLD INC
SOLEShares53.14K
TypeSH
Market value$771.6K
0.40%
Sole
53.14K
Shared
0.00
None
0.00
| Issuer | Class | Shares | Type | Value / Portfolio % | Voting — Sole | Shared | None |
|---|---|---|---|---|---|---|---|
SPDR GOLD TRSOLE | GOLD SHS | 140K | SH | $42.68M 22.36% | 140K | 0.00 | 0.00 |
SPDR S&P 500 ETF TRSOLE | TR UNIT | 45K | SH | $27.80M 14.57% | 45K | 0.00 | 0.00 |
CRH PLCSOLE | ORD | 230.85K | SH | $21.19M 11.10% | 230.85K | 0.00 | 0.00 |
NAVIOS MARITIME PARTNERS L PSOLE | COM UNIT LPI | 506.11K | SH | $19.07M 9.99% | 506.11K | 0.00 | 0.00 |
FRANCO NEV CORPSOLE | COM | 84.31K | SH | $13.82M 7.24% | 84.31K | 0.00 | 0.00 |
ROYAL GOLD INCSOLE | COM | 63.60K | SH | $11.31M 5.93% | 63.60K | 0.00 | 0.00 |
KASPI KZ JSCSOLE | SPONSORED ADS | 107.01K | SH | $9.08M 4.76% | 107.01K | 0.00 | 0.00 |
FERGUSON ENTERPRISES INCSOLE | COM | 38.14K | SH | $8.30M 4.35% | 38.14K | 0.00 | 0.00 |
ISHARES TRSOLE | IBOXX HI YD ETF | 100K | SH | $8.06M 4.23% | 100K | 0.00 | 0.00 |
STAR BULK CARRIERS CORPSOLE | SHS PAR | 328.39K | SH | $5.66M 2.97% | 328.39K | 0.00 | 0.00 |
ICON PLCSOLE | SHS | 34.34K | SH | $5.00M 2.62% | 34.34K | 0.00 | 0.00 |
FIRST CTZNS BANCSHARES INC NSOLE | CL A | 2.50K | SH | $4.90M 2.57% | 2.50K | 0.00 | 0.00 |
HAFNIA LTDSOLE | ORD SHS | 825.38K | SH | $4.12M 2.16% | 825.38K | 0.00 | 0.00 |
BAIDU INCSOLE | SPON ADR REP A | 42K | SH | $3.60M 1.89% | 42K | 0.00 | 0.00 |
FRONTLINE PLCSOLE | COM | 190.33K | SH | $3.12M 1.64% | 190.33K | 0.00 | 0.00 |
ISHARES SILVER TRSOLE | ISHARES | 72.78K | SH | $2.39M 1.25% | 72.78K | 0.00 | 0.00 |
SEABRIDGE GOLD INCSOLE | COM | 53.14K | SH | $771.6K 0.40% | 53.14K | 0.00 | 0.00 |