Managers / Q4 2023 · view latest →
ARMOR ADVISORS, L.L.C.
CIK 0001600698 · 410 PARK AVENUE, SUITE 530, NEW YORK, NY, 10022 · (646) 873-8501
Summary
Armor Advisors, L.L.C. reported $104M in U.S.-listed holdings across 12 positions for Q4 2023.
The portfolio is heavily concentrated: Crh alone accounts for 21.1% of reported value.
Compared with Q3 2023, the fund opened 0 new positions and exited 3.
Portfolio Metrics
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
Portfolio Composition
- Common Stock · 63.7% · $66M
- Other · 36.3% · $38M
Quarter-over-Quarter Changes full breakdown →
vs Q3 2023 (amended baseline)
| Issuer | Move | Share Δ | Shares now | Value Δ | Value now |
|---|---|---|---|---|---|
| SPDR S&P 500 ETF TR | SOLD OUT | −235.0K | 0 | −$100M | $0 |
| SPDR INDEX SHS FDS | SOLD OUT | −610.0K | 0 | −$26M | $0 |
| SPROTT PHYSICAL SILVER TR | SOLD OUT | −316.9K | 0 | −$2M | $0 |
| CRH PLC | ADDED | +136.0K | 316.0K | +$12M | $22M |
| STAR BULK CARRIERS CORP | ADDED | +48.0K | 133.6K | +$1M | $3M |
| FRONTLINE LTD | TRIMMED | −248.0K | 339.4K | −$4M | $7M |
| WPMWHEATON PRECIOUS METALS CORP | ADDED | +28.2K | 101.4K | +$2M | $5M |
| FCNCAFIRST CTZNS BANCSHARES INC N | ADDED | +2.0K | 7.5K | +$3M | $11M |
Value changes conflate price moves with buying and selling — share changes are the real signal. Share counts are not split-adjusted.
Holdings — Q4 2023
| # | Issuer | Class | % Portfolio | Value ↓ | Shares |
|---|---|---|---|---|---|
| 1 | CRH PLC | ORD | 21.10% | $22M | 316.0K |
| 2 | FNVFRANCO NEV CORPhistory → | COM | 13.86% | $14M | 129.5K |
| 3 | RGLDROYAL GOLD INChistory → | COM | 12.81% | $13M | 109.7K |
| 4 | FCNCAFIRST CTZNS BANCSHARES INC Nhistory → | CL A | 10.30% | $11M | 7.5K |
| 5 | CRCCANADIAN NAT RES LTDhistory → | COM | 9.31% | $10M | 147.1K |
| 6 | EOGEOG RES INChistory → | COM | 7.02% | $7M | 60.1K |
| 7 | FRONTLINE LTD | SHS NEW | 6.57% | $7M | 339.4K |
| 8 | SEA1EURSEABRIDGE GOLD INChistory → | COM | 5.56% | $6M | 474.9K |
| 9 | WPMWHEATON PRECIOUS METALS CORPhistory → | COM | 4.83% | $5M | 101.4K |
| 10 | FERGUSON PLC NEW | SHS | 4.09% | $4M | 21.9K |
| 11 | STAR BULK CARRIERS CORP | SHS PAR | 2.74% | $3M | 133.6K |
| 12 | GENCO SHIPPING & TRADING LTD | SHS | 1.82% | $2M | 113.8K |
Filing History
| Quarter | Reported Value | Positions | Filed | Type | Links |
|---|---|---|---|---|---|
| Q1 2026 | $298M | 18 | May 15, 2026 | 13F-HR | changes · EDGAR ↗ |
| Q4 2025 | $112M | 14 | Feb 10, 2026 | 13F-HR | changes · EDGAR ↗ |
| Q3 2025 | $179M | 16 | Nov 10, 2025 | 13F-HR | changes · EDGAR ↗ |
| Q2 2025 | $191M | 18 | Aug 14, 2025 | 13F-HR | changes · EDGAR ↗ |
| Q1 2025 | $125M | 19 | May 9, 2025 | 13F-HR | changes · EDGAR ↗ |
| Q4 2024 | $96M | 13 | Feb 14, 2025 | 13F-HR | changes · EDGAR ↗ |
| Q3 2024 | $156M | 13 | Nov 14, 2024 | 13F-HR | changes · EDGAR ↗ |
| Q2 2024 | $136M | 12 | Aug 14, 2024 | 13F-HR | changes · EDGAR ↗ |
| Q1 2024 | $164M | 14 | May 15, 2024 | 13F-HR | changes · EDGAR ↗ |
| Q4 2023 | $104M | 12 | Feb 13, 2024 | 13F-HR | changes · EDGAR ↗ |
| Q3 2023 | $227M | 15 | Nov 13, 2023 | 13F-HR | changes · EDGAR ↗ |
| Q2 2023 | $193M | 15 | Aug 10, 2023 | 13F-HR | changes · EDGAR ↗ |
| Q1 2023 | $187M | 13 | May 15, 2023 | 13F-HR | changes · EDGAR ↗ |
| Q4 2022 | $275M | 10 | Feb 14, 2023 | 13F-HR | changes · EDGAR ↗ |
| Q3 2022 | $658M | 11 | Nov 14, 2022 | 13F-HR | changes · EDGAR ↗ |
| Q2 2022 | $183M | 10 | Aug 15, 2022 | 13F-HR | changes · EDGAR ↗ |
| Q1 2022 | $864M | 20 | May 20, 2022 | RESTATEMENT | changes · EDGAR ↗ |
| Q4 2021 | $509M | 19 | Feb 14, 2022 | 13F-HR | changes · EDGAR ↗ |
| Q3 2021 | $588M | 20 | Nov 15, 2021 | 13F-HR | changes · EDGAR ↗ |
| Q2 2021 | $362M | 16 | Aug 16, 2021 | RESTATEMENT | changes · EDGAR ↗ |
| Q1 2021 | $262M | 14 | May 17, 2021 | 13F-HR | changes · EDGAR ↗ |
| Q4 2020 | $247M | 14 | Feb 16, 2021 | 13F-HR | changes · EDGAR ↗ |
| Q3 2020 | $318M | 15 | Nov 16, 2020 | 13F-HR | changes · EDGAR ↗ |
| Q2 2020 | $207M | 12 | Aug 14, 2020 | 13F-HR | changes · EDGAR ↗ |
| Q1 2020 | $302M | 16 | May 15, 2020 | 13F-HR | changes · EDGAR ↗ |
| Q4 2019 | $177M | 8 | Feb 14, 2020 | 13F-HR | changes · 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 ↗.