SEC 13F Intelligence

Managers / Q1 2026

ARMOR ADVISORS, L.L.C.

CIK 0001600698 · 410 PARK AVENUE, SUITE 530, NEW YORK, NY, 10022 · (646) 873-8501

Reported Value
$298M
Q1 2026
Positions
18
Filings on Record
28
2019–present window
Filed
May 15, 2026
original filing

Summary

Armor Advisors, L.L.C. reported $298M in U.S.-listed holdings across 18 positions for Q1 2026.

Its largest position, Crh, represents 9.1% of the portfolio.

Compared with Q4 2025, the fund opened 9 new positions and exited 4.

Portfolio Metrics

Turnover
+19.6%
vs prior filed quarter
Top-10 Concentration
+28.8%
share of reported value
Largest Position
+9.1%
Crh
New / Exited
9 / 4
positions this quarter

Methodology: turnover is min(value bought, value sold) ÷ average reported value across the two quarters — value-based, so market moves inflate it slightly versus a share-based measure. Concentration and largest position are shares of the filing’s total reported value, options excluded. New/exited counts compare against the prior filed quarter. All figures derive solely from the fund’s 13F filings.

Reported Value by Quarter

13F Reported Value
Q4 ’19: $177MQ4 ’19Q1 ’20: $302MQ2 ’20: $207MQ3 ’20: $318MQ4 ’20: $247MQ4 ’20Q1 ’21: $262MQ2 ’21: $362MQ3 ’21: $588MQ4 ’21: $509MQ4 ’21Q1 ’22: $864MQ2 ’22: $183MQ3 ’22: $658MQ4 ’22: $275MQ4 ’22Q1 ’23: $187MQ2 ’23: $193MQ3 ’23: $227MQ4 ’23: $104MQ4 ’23Q1 ’24: $164MQ2 ’24: $136MQ3 ’24: $156MQ4 ’24: $96MQ4 ’24Q1 ’25: $125MQ2 ’25: $191MQ3 ’25: $179MQ4 ’25: $112MQ4 ’25Q1 ’26: $298Mfilingsflow.com

Portfolio Composition

By security type
ETP: 69.1%Common Stock: 13.7%Other: 13.7%ADR: 3.5%
  • ETP · 69.1% · $206M
  • Common Stock · 13.7% · $41M
  • Other · 13.7% · $41M
  • ADR · 3.5% · $10M

Quarter-over-Quarter Changes full breakdown →

vs Q4 2025 (amended baseline)

IssuerMoveShare ΔShares nowValue ΔValue now
SPDR S&P 500 ETF TRNEW+150.0K150.0K+$98M$98M
ISHARES TRNEW+1.10M1.10M+$88M$88M
GQ9SPDR GOLD TRNEW+48.0K48.0K+$21M$21M
ZBHZIMMER BIOMET HOLDINGS INCNEW+47.1K47.1K+$4M$4M
ZTSZOETIS INCNEW+32.4K32.4K+$4M$4M
BXBLACKSTONE INCNEW+20.0K20.0K+$2M$2M
DVNDEVON ENERGY CORP NEWNEW+29.0K29.0K+$1M$1M
ODVOSISKO DEVELOPMENT CORPNEW+353.0K353.0K+$1M$1M

Value changes conflate price moves with buying and selling — share changes are the real signal. Share counts are not split-adjusted.

Holdings — Q1 2026

14 positions
Export to Excel
#IssuerClass% PortfolioValue ↓Shares
1CRH PLCORD9.10%$27M257.7K
2NAVIOS MARITIME PARTNERS L PCOM UNIT LPI4.57%$14M201.8K
3AGIALAMOS GOLD INC NEWhistory →COM CL A3.97%$12M265.7K
4KSPIKASPI KZ JSChistory →SPONSORED ADS3.51%$10M141.1K
5FCNCAFIRST CTZNS BANCSHARES INC Nhistory →CL A1.63%$5M2.6K
6SKESKEENA RES LTD NEWhistory →COM1.48%$4M147.8K
7ZBHZIMMER BIOMET HOLDINGS INChistory →COM1.43%$4M47.1K
8FERGFERGUSON ENTERPRISES INChistory →COM1.32%$4M16.8K
9ZTSZOETIS INChistory →CL A1.28%$4M32.4K
10DVNDEVON ENERGY CORP NEWCOM0.49%$1M29.0K
11SEA1EURSEABRIDGE GOLD INCCOM0.49%$1M51.1K
12ODVOSISKO DEVELOPMENT CORPCOM NEW0.39%$1M353.0K
13EDRENDEAVOUR SILVER CORPCOM0.35%$1M112.0K
14EOGEOG RES INCCOM0.15%$433,7103.0K

Filing History

QuarterReported ValuePositionsFiledTypeLinks
Q1 2026$298M18May 15, 202613F-HRchanges · EDGAR ↗
Q4 2025$112M14Feb 10, 202613F-HRchanges · EDGAR ↗
Q3 2025$179M16Nov 10, 202513F-HRchanges · EDGAR ↗
Q2 2025$191M18Aug 14, 202513F-HRchanges · EDGAR ↗
Q1 2025$125M19May 9, 202513F-HRchanges · EDGAR ↗
Q4 2024$96M13Feb 14, 202513F-HRchanges · EDGAR ↗
Q3 2024$156M13Nov 14, 202413F-HRchanges · EDGAR ↗
Q2 2024$136M12Aug 14, 202413F-HRchanges · EDGAR ↗
Q1 2024$164M14May 15, 202413F-HRchanges · EDGAR ↗
Q4 2023$104M12Feb 13, 202413F-HRchanges · EDGAR ↗
Q3 2023$227M15Nov 13, 202313F-HRchanges · EDGAR ↗
Q2 2023$193M15Aug 10, 202313F-HRchanges · EDGAR ↗
Q1 2023$187M13May 15, 202313F-HRchanges · EDGAR ↗
Q4 2022$275M10Feb 14, 202313F-HRchanges · EDGAR ↗
Q3 2022$658M11Nov 14, 202213F-HRchanges · EDGAR ↗
Q2 2022$183M10Aug 15, 202213F-HRchanges · EDGAR ↗
Q1 2022$864M20May 20, 2022RESTATEMENTchanges · EDGAR ↗
Q4 2021$509M19Feb 14, 202213F-HRchanges · EDGAR ↗
Q3 2021$588M20Nov 15, 202113F-HRchanges · EDGAR ↗
Q2 2021$362M16Aug 16, 2021RESTATEMENTchanges · EDGAR ↗
Q1 2021$262M14May 17, 202113F-HRchanges · EDGAR ↗
Q4 2020$247M14Feb 16, 202113F-HRchanges · EDGAR ↗
Q3 2020$318M15Nov 16, 202013F-HRchanges · EDGAR ↗
Q2 2020$207M12Aug 14, 202013F-HRchanges · EDGAR ↗
Q1 2020$302M16May 15, 202013F-HRchanges · EDGAR ↗
Q4 2019$177M8Feb 14, 202013F-HRchanges · EDGAR ↗

13F filings are due up to 45 days after quarter end, so holdings shown here lag the fund’s current book. Source: original SEC filing on EDGAR ↗.