ARMOR ADVISORS, L.L.C. Hedge Fund

Location: New York, NY

CIK: 0001600698 · Show all filings

Period: Q3 2025 (← Previous) (Next →)

Filing Date: Nov 10, 2025

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

Holdings (16)

GLD SPDR GOLD TR 29.7%

Value $53.32M Shares 150,000 Est. Cost — Unrealized —

CRH CRH PLC 14.3%

Value $25.58M Shares 213,349 Est. Cost $65.61 Unrealized +61.0%

FNV FRANCO NEV CORP 7.9%

Value $14.22M Shares 63,812 Est. Cost $113.36 Unrealized +59.0%

NMM NAVIOS MARITIME PARTNERS L P 7.8%

Value $13.97M Shares 310,000 Est. Cost $59.66 Unrealized —

RGLD ROYAL GOLD INC 6.6%

Value $11.8M Shares 58,805 Est. Cost $125.95 Unrealized +37.3%

KSPI KASPI KZ JSC 5.3%

Value $9.465M Shares 115,880 Est. Cost $89.39 Unrealized —

NMM NAVIOS MARITIME PARTNERS L P 5.1%

Value $9.09M Shares 201,776 Est. Cost $59.66 Unrealized —

ICLR ICON PLC 3.8%

Value $6.813M Shares 38,934 Est. Cost $215.28 Unrealized -22.3%

SPY SPDR S&P 500 ETF TR 3.7%

Value $6.662M Shares 10,000 Est. Cost — Unrealized —

SBLK STAR BULK CARRIERS CORP 3.4%

Value $6.105M Shares 328,390 Est. Cost $21.49 Unrealized -12.3%

SLV ISHARES SILVER TR 2.9%

Value $5.223M Shares 123,277 Est. Cost $34.75 Unrealized —

— HAFNIA LTD 2.8%

Value $4.944M Shares 825,376 Est. Cost $4.16 Unrealized —

FRO FRONTLINE PLC 2.7%

Value $4.793M Shares 210,332 Est. Cost $18.17 Unrealized +11.4%

FERG FERGUSON ENTERPRISES INC 1.9%

Value $3.455M Shares 15,386 Est. Cost $191.49 Unrealized +17.4%

FCNCA FIRST CTZNS BANCSHARES INC N 1.5%

Value $2.75M Shares 1,537 Est. Cost $1442.35 Unrealized +36.4%

SA SEABRIDGE GOLD INC 0.7%

Value $1.283M Shares 53,142 Est. Cost $15.23 Unrealized +13.6%

Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
GLD	SPDR GOLD TR	150,000	$53.32M	29.7%	—	—	Put	78463V107
CRH	CRH PLC	213,349	$25.58M	14.3%	$65.61	+61.0%	ORD	G25508105
FNV	FRANCO NEV CORP	63,812	$14.22M	7.9%	$113.36	+59.0%	COM	351858105
NMM	NAVIOS MARITIME PARTNERS L P	310,000	$13.97M	7.8%	$59.66	—	Call	Y62267409
RGLD	ROYAL GOLD INC	58,805	$11.8M	6.6%	$125.95	+37.3%	COM	780287108
KSPI	KASPI KZ JSC	115,880	$9.465M	5.3%	$89.39	—	SPONSORED ADS	48581R205
NMM	NAVIOS MARITIME PARTNERS L P	201,776	$9.09M	5.1%	$59.66	—	COM UNIT LPI	Y62267409
ICLR	ICON PLC	38,934	$6.813M	3.8%	$215.28	-22.3%	SHS	G4705A100
SPY	SPDR S&P 500 ETF TR	10,000	$6.662M	3.7%	—	—	Put	78462F103
SBLK	STAR BULK CARRIERS CORP	328,390	$6.105M	3.4%	$21.49	-12.3%	SHS PAR	Y8162K204
SLV	ISHARES SILVER TR	123,277	$5.223M	2.9%	$34.75	—	ISHARES	46428Q109
—	HAFNIA LTD	825,376	$4.944M	2.8%	$4.16	—	ORD SHS	G4233B109
FRO	FRONTLINE PLC	210,332	$4.793M	2.7%	$18.17	+11.4%	COM	M46528101
FERG	FERGUSON ENTERPRISES INC	15,386	$3.455M	1.9%	$191.49	+17.4%	COM	31488V107
FCNCA	FIRST CTZNS BANCSHARES INC N	1,537	$2.75M	1.5%	$1442.35	+36.4%	CL A	31946M103
SA	SEABRIDGE GOLD INC	53,142	$1.283M	0.7%	$15.23	+13.6%	COM	811916105