ARMOR ADVISORS, L.L.C. Hedge Fund

CIK: 0001600698 · Show all filings

Period: Q3 2025 (← Previous) (Next →)

Filing Date: Nov 10, 2025

Total Value ($000): $179,471 (100.0% shares, 0.0% debt)

Holdings (16)

GLD SPDR GOLD TR 29.7%

Value ($000) $53,321 Shares 150,000 Est. Cost — Unrealized —

CRH CRH PLC 14.3%

Value ($000) $25,581 Shares 213,349 Est. Cost $65.61 Unrealized +61.0%

FNV FRANCO NEV CORP 7.9%

Value ($000) $14,224 Shares 63,812 Est. Cost $113.36 Unrealized +59.0%

NMM NAVIOS MARITIME PARTNERS L P 7.8%

Value ($000) $13,966 Shares 310,000 Est. Cost $59.66 Unrealized —

RGLD ROYAL GOLD INC 6.6%

Value ($000) $11,795 Shares 58,805 Est. Cost $125.95 Unrealized +37.3%

KSPI KASPI KZ JSC 5.3%

Value ($000) $9,465 Shares 115,880 Est. Cost $89.39 Unrealized —

NMM NAVIOS MARITIME PARTNERS L P 5.1%

Value ($000) $9,090 Shares 201,776 Est. Cost $59.66 Unrealized —

ICLR ICON PLC 3.8%

Value ($000) $6,813 Shares 38,934 Est. Cost $215.28 Unrealized -22.3%

SPY SPDR S&P 500 ETF TR 3.7%

Value ($000) $6,662 Shares 10,000 Est. Cost — Unrealized —

SBLK STAR BULK CARRIERS CORP 3.4%

Value ($000) $6,105 Shares 328,390 Est. Cost $21.49 Unrealized -12.3%

SLV ISHARES SILVER TR 2.9%

Value ($000) $5,223 Shares 123,277 Est. Cost $34.75 Unrealized —

— HAFNIA LTD 2.8%

Value ($000) $4,944 Shares 825,376 Est. Cost $4.16 Unrealized —

FRO FRONTLINE PLC 2.7%

Value ($000) $4,793 Shares 210,332 Est. Cost $18.17 Unrealized +11.4%

FERG FERGUSON ENTERPRISES INC 1.9%

Value ($000) $3,455 Shares 15,386 Est. Cost $191.49 Unrealized +17.4%

FCNCA FIRST CTZNS BANCSHARES INC N 1.5%

Value ($000) $2,750 Shares 1,537 Est. Cost $1442.35 Unrealized +36.4%

SA SEABRIDGE GOLD INC 0.7%

Value ($000) $1,283 Shares 53,142 Est. Cost $15.23 Unrealized +13.6%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
GLD	SPDR GOLD TR	150,000	$53,321	29.7%	—	—	Put	78463V107
CRH	CRH PLC	213,349	$25,581	14.3%	$65.61	+61.0%	ORD	G25508105
FNV	FRANCO NEV CORP	63,812	$14,224	7.9%	$113.36	+59.0%	COM	351858105
NMM	NAVIOS MARITIME PARTNERS L P	310,000	$13,966	7.8%	$59.66	—	Call	Y62267409
RGLD	ROYAL GOLD INC	58,805	$11,795	6.6%	$125.95	+37.3%	COM	780287108
KSPI	KASPI KZ JSC	115,880	$9,465	5.3%	$89.39	—	SPONSORED ADS	48581R205
NMM	NAVIOS MARITIME PARTNERS L P	201,776	$9,090	5.1%	$59.66	—	COM UNIT LPI	Y62267409
ICLR	ICON PLC	38,934	$6,813	3.8%	$215.28	-22.3%	SHS	G4705A100
SPY	SPDR S&P 500 ETF TR	10,000	$6,662	3.7%	—	—	Put	78462F103
SBLK	STAR BULK CARRIERS CORP	328,390	$6,105	3.4%	$21.49	-12.3%	SHS PAR	Y8162K204
SLV	ISHARES SILVER TR	123,277	$5,223	2.9%	$34.75	—	ISHARES	46428Q109
—	HAFNIA LTD	825,376	$4,944	2.8%	$4.16	—	ORD SHS	G4233B109
FRO	FRONTLINE PLC	210,332	$4,793	2.7%	$18.17	+11.4%	COM	M46528101
FERG	FERGUSON ENTERPRISES INC	15,386	$3,455	1.9%	$191.49	+17.4%	COM	31488V107
FCNCA	FIRST CTZNS BANCSHARES INC N	1,537	$2,750	1.5%	$1442.35	+36.4%	CL A	31946M103
SA	SEABRIDGE GOLD INC	53,142	$1,283	0.7%	$15.23	+13.6%	COM	811916105