SEC 13F Intelligence

Managers / Q2 2023 · view latest →

ARMOR ADVISORS, L.L.C.

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

Reported Value
$193M
Q2 2023
Positions
15
Filings on Record
28
2019–present window
Filed
Aug 10, 2023
original filing

Summary

Armor Advisors, L.L.C. reported $193M in U.S.-listed holdings across 15 positions for Q2 2023.

Its largest position, FNV, represents 9.0% of the portfolio.

Compared with Q1 2023, the fund opened 3 new positions and exited 1.

Portfolio Metrics

Turnover
+13.0%
vs prior filed quarter
Top-10 Concentration
+50.1%
share of reported value
Largest Position
+9.0%
Franco Nev
New / Exited
3 / 1
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: 46.8%Common Stock: 39.5%Other: 12.0%Closed-End Fund: 1.8%
  • ETP · 46.8% · $90M
  • Common Stock · 39.5% · $76M
  • Other · 12.0% · $23M
  • Closed-End Fund · 1.8% · $3M

Quarter-over-Quarter Changes full breakdown →

vs Q1 2023 (amended baseline)

IssuerMoveShare ΔShares nowValue ΔValue now
FCNCAFIRST CTZNS BANCSHARES INC NNEW+5.7K5.7K+$7M$7M
GENCO SHIPPING & TRADING LTDNEW+97.8K97.8K+$1M$1M
STAR BULK CARRIERS CORPNEW+71.6K71.6K+$1M$1M
SCHWSCHWAB CHARLES CORPSOLD OUT−63.0K0−$3M$0
XP INCTRIMMED−465.0K250.0K−$3M$6M
FERGUSON PLC NEWTRIMMED−55.0K30.6K−$7M$5M
RGLDROYAL GOLD INCTRIMMED−49.9K132.7K−$8M$15M
SPDR S&P 500 ETF TRADDED+20.0K110.0K+$12M$49M

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

Holdings — Q2 2023

13 positions
Export to Excel
#IssuerClass% PortfolioValue ↓Shares
1FNVFRANCO NEV CORPhistory →COM8.96%$17M121.1K
2RGLDROYAL GOLD INChistory →COM7.90%$15M132.7K
3CRCCANADIAN NAT RES LTDhistory →COM7.58%$15M259.6K
4EOGEOG RES INChistory →COM5.61%$11M94.6K
5FRONTLINE LTDSHS NEW5.12%$10M679.1K
6SEA1EURSEABRIDGE GOLD INChistory →COM3.85%$7M616.1K
7FCNCAFIRST CTZNS BANCSHARES INC Nhistory →CL A3.80%$7M5.7K
8XP INCCL A3.04%$6M250.0K
9FERGUSON PLC NEWSHS2.50%$5M30.6K
10SPROTT PHYSICAL SILVER TRTR UNIT1.75%$3M433.7K
11WPMWHEATON PRECIOUS METALS CORPhistory →COM1.75%$3M78.1K
12GENCO SHIPPING & TRADING LTDSHS0.71%$1M97.8K
13STAR BULK CARRIERS CORPSHS PAR0.66%$1M71.6K

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 ↗.