Filed: 11/10/2025ACC: 0001600698-25-000016
📋 What this filing means
ARMOR ADVISORS, L.L.C. filed this quarterly 13F‑HR report disclosing 15 equity positions with a total reported market value of $179.47M. This filing provides a transparent view of the manager's long equity holdings as of the quarter end.
15
Positions
$179.47M
Total AUM (reported)
2.72M
Total Shares
Allocation by class
GOLD SHS$53.32M29.7%
COM$35.55M19.8%
ORD$25.58M14.3%
COM UNIT LPI$23.06M12.8%
SPONSORED ADS$9.47M5.3%
SHS$6.81M3.8%
TR UNIT$6.66M3.7%
Portfolio Concentration
Top 3$101.96M56.8%
4–10$60.29M33.6%
11–25$17.23M9.6%
Top 3 weight
56.8%
Top 10 weight
90.4%
Voting Authority Distribution
Total shares with voting rights: 2.72M
Sole
Full voting authority
2.72M
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)
Sole15
Shared0
Other0
Dominant voting typeSole · 100.0% of voting shares
Institutional Holdings15
Rows:
SPDR GOLD TR
SOLEShares150K
TypeSH
Market value$53.32M
29.71%
Sole
150K
Shared
0.00
None
0.00
CRH PLC
SOLEShares213.35K
TypeSH
Market value$25.58M
14.25%
Sole
213.35K
Shared
0.00
None
0.00
NAVIOS MARITIME PARTNERS L P
SOLEShares511.78K
TypeSH
Market value$23.06M
12.85%
Sole
511.78K
Shared
0.00
None
0.00
FRANCO NEV CORP
SOLEShares63.81K
TypeSH
Market value$14.22M
7.93%
Sole
63.81K
Shared
0.00
None
0.00
ROYAL GOLD INC
SOLEShares58.80K
TypeSH
Market value$11.80M
6.57%
Sole
58.80K
Shared
0.00
None
0.00
KASPI KZ JSC
SOLEShares115.88K
TypeSH
Market value$9.47M
5.27%
Sole
115.88K
Shared
0.00
None
0.00
ICON PLC
SOLEShares38.93K
TypeSH
Market value$6.81M
3.80%
Sole
38.93K
Shared
0.00
None
0.00
SPDR S&P 500 ETF TR
SOLEShares10K
TypeSH
Market value$6.66M
3.71%
Sole
10K
Shared
0.00
None
0.00
STAR BULK CARRIERS CORP
SOLEShares328.39K
TypeSH
Market value$6.10M
3.40%
Sole
328.39K
Shared
0.00
None
0.00
ISHARES SILVER TR
SOLEShares123.28K
TypeSH
Market value$5.22M
2.91%
Sole
123.28K
Shared
0.00
None
0.00
HAFNIA LTD
SOLEShares825.38K
TypeSH
Market value$4.94M
2.75%
Sole
825.38K
Shared
0.00
None
0.00
FRONTLINE PLC
SOLEShares210.33K
TypeSH
Market value$4.79M
2.67%
Sole
210.33K
Shared
0.00
None
0.00
FERGUSON ENTERPRISES INC
SOLEShares15.39K
TypeSH
Market value$3.46M
1.93%
Sole
15.39K
Shared
0.00
None
0.00
FIRST CTZNS BANCSHARES INC N
SOLEShares1.54K
TypeSH
Market value$2.75M
1.53%
Sole
1.54K
Shared
0.00
None
0.00
SEABRIDGE GOLD INC
SOLEShares53.14K
TypeSH
Market value$1.28M
0.72%
Sole
53.14K
Shared
0.00
None
0.00
| Issuer | Class | Shares | Type | Value / Portfolio % | Voting — Sole | Shared | None |
|---|---|---|---|---|---|---|---|
SPDR GOLD TRSOLE | GOLD SHS | 150K | SH | $53.32M 29.71% | 150K | 0.00 | 0.00 |
CRH PLCSOLE | ORD | 213.35K | SH | $25.58M 14.25% | 213.35K | 0.00 | 0.00 |
NAVIOS MARITIME PARTNERS L PSOLE | COM UNIT LPI | 511.78K | SH | $23.06M 12.85% | 511.78K | 0.00 | 0.00 |
FRANCO NEV CORPSOLE | COM | 63.81K | SH | $14.22M 7.93% | 63.81K | 0.00 | 0.00 |
ROYAL GOLD INCSOLE | COM | 58.80K | SH | $11.80M 6.57% | 58.80K | 0.00 | 0.00 |
KASPI KZ JSCSOLE | SPONSORED ADS | 115.88K | SH | $9.47M 5.27% | 115.88K | 0.00 | 0.00 |
ICON PLCSOLE | SHS | 38.93K | SH | $6.81M 3.80% | 38.93K | 0.00 | 0.00 |
SPDR S&P 500 ETF TRSOLE | TR UNIT | 10K | SH | $6.66M 3.71% | 10K | 0.00 | 0.00 |
STAR BULK CARRIERS CORPSOLE | SHS PAR | 328.39K | SH | $6.10M 3.40% | 328.39K | 0.00 | 0.00 |
ISHARES SILVER TRSOLE | ISHARES | 123.28K | SH | $5.22M 2.91% | 123.28K | 0.00 | 0.00 |
HAFNIA LTDSOLE | ORD SHS | 825.38K | SH | $4.94M 2.75% | 825.38K | 0.00 | 0.00 |
FRONTLINE PLCSOLE | COM | 210.33K | SH | $4.79M 2.67% | 210.33K | 0.00 | 0.00 |
FERGUSON ENTERPRISES INCSOLE | COM | 15.39K | SH | $3.46M 1.93% | 15.39K | 0.00 | 0.00 |
FIRST CTZNS BANCSHARES INC NSOLE | CL A | 1.54K | SH | $2.75M 1.53% | 1.54K | 0.00 | 0.00 |
SEABRIDGE GOLD INCSOLE | COM | 53.14K | SH | $1.28M 0.72% | 53.14K | 0.00 | 0.00 |