SEC 13F Intelligence

Managers / Q3 2023 · view latest →

ARMOR ADVISORS, L.L.C.

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

Reported Value
$227M
Q3 2023
Positions
15
Filings on Record
28
2019–present window
Filed
Nov 13, 2023
original filing

Summary

Armor Advisors, L.L.C. reported $227M in U.S.-listed holdings across 15 positions for Q3 2023.

Its largest position, FNV, represents 6.7% of the portfolio.

Compared with Q2 2023, the fund opened 1 new position and exited 1.

Portfolio Metrics

Turnover
+14.1%
vs prior filed quarter
Top-10 Concentration
+42.0%
share of reported value
Largest Position
+6.7%
Franco Nev
New / Exited
1 / 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: 55.6%Common Stock: 30.9%Other: 12.5%Closed-End Fund: 1.1%
  • ETP · 55.6% · $126M
  • Common Stock · 30.9% · $70M
  • Other · 12.5% · $28M
  • Closed-End Fund · 1.1% · $2M

Quarter-over-Quarter Changes full breakdown →

vs Q2 2023 (amended baseline)

IssuerMoveShare ΔShares nowValue ΔValue now
CRH PLCNEW+180.0K180.0K+$10M$10M
SPDR S&P 500 ETF TRADDED+125.0K235.0K+$52M$100M
XP INCSOLD OUT−250.0K0−$6M$0
SPDR INDEX SHS FDSTRIMMED−290.0K610.0K−$16M$26M
SPROTT PHYSICAL SILVER TRTRIMMED−116.8K316.9K−$976,426$2M
STAR BULK CARRIERS CORPADDED+14.0K85.6K+$383,010$2M
CRCCANADIAN NAT RES LTDTRIMMED−46.9K212.8K−$847,254$14M
FRONTLINE LTDTRIMMED−91.7K587.4K+$1M$11M

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

Holdings — Q3 2023

13 positions
Export to Excel
#IssuerClass% PortfolioValue ↓Shares
1FNVFRANCO NEV CORPhistory →COM6.68%$15M113.4K
2CRCCANADIAN NAT RES LTDhistory →COM6.07%$14M212.8K
3RGLDROYAL GOLD INChistory →COM5.88%$13M125.3K
4EOGEOG RES INChistory →COM4.89%$11M87.5K
5FRONTLINE LTDSHS NEW4.87%$11M587.4K
6CRH PLCORD4.35%$10M180.0K
7FCNCAFIRST CTZNS BANCSHARES INC Nhistory →CL A3.35%$8M5.5K
8SEA1EURSEABRIDGE GOLD INChistory →COM2.69%$6M577.1K
9FERGUSON PLC NEWSHS1.93%$4M26.6K
10WPMWHEATON PRECIOUS METALS CORPhistory →COM1.31%$3M73.2K
11SPROTT PHYSICAL SILVER TRTR UNIT1.06%$2M316.9K
12STAR BULK CARRIERS CORPSHS PAR0.73%$2M85.6K
13GENCO SHIPPING & TRADING LTDSHS0.60%$1M97.8K

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 ↗.