Q4 2025 · 13F-HR
ARMOR ADVISORS, L.L.C.holdings as filed
Filed 2026-02-10 · accession 0001600698-26-000003
The Brief · ARMOR ADVISORS, L.L.C. · Q4 2025
AI · grounded in 13F
ARMOR ADVISORS, L.L.C. closed its position in SPDR GOLD TR GLD, reducing exposure by $53.3M. The fund also exited positions in FRANCO NEV CORP FNV and ROYAL GOLD INC RGLD, totaling over $26M in sales. To offset these exits, the fund established a new position in ALAMOS GOLD INC NEW for $9.6M and added ABRDN PLATINUM ETF TRUST PPLT for $2.4M. Additionally, the fund increased its holdings in ISHARES SILVER TR SLV by 19.7%.
Holdings as filed
| CUSIP | Ticker | Issuer | Value | % port. | Shares | Class | Voting |
|---|---|---|---|---|---|---|---|
| G25508105 | CRH | CRH PLC | $28.5M | 25.5% | 227,989 | Common | SOLE |
| Y62267409 | NMM | NAVIOS MARITIME PARTNERS L P | $16.3M | 14.5% | 310,000 | CALL | SOLE |
| Y62267409 | NMM | NAVIOS MARITIME PARTNERS L P | $10.6M | 9.47% | 201,776 | Common | SOLE |
| 48581R205 | KSPI | KASPI KZ JSC | $10.2M | 9.16% | 131,080 | Common | SOLE |
| 011532108 | AGI | ALAMOS GOLD INC NEW | $9.6M | 8.57% | 248,245 | Common | SOLE |
| 46428Q109 | SLV | ISHARES SILVER TR | $9.5M | 8.51% | 147,595 | Common | SOLE |
| G4705A100 | ICLR | ICON PLC | $7.3M | 6.50% | 39,868 | Common | SOLE |
| Y8162K204 | SBLK | STAR BULK CARRIERS CORP | $6.3M | 5.65% | 328,390 | Common | SOLE |
| 31488V107 | FERG | FERGUSON ENTERPRISES INC | $3.3M | 2.95% | 14,804 | Common | SOLE |
| 31946M103 | FCNCA | FIRST CTZNS BANCSHARES INC N | $3.2M | 2.84% | 1,479 | Common | SOLE |
| 003260106 | PPLT | ABRDN PLATINUM ETF TRUST | $2.4M | 2.15% | 12,903 | Common | SOLE |
| 83056P715 | SKE | SKEENA RES LTD NEW | $2.1M | 1.92% | 90,400 | Common | SOLE |
| 811916105 | SA | SEABRIDGE GOLD INC | $1.5M | 1.35% | 51,132 | Common | SOLE |
| 29258Y103 | EXK | ENDEAVOUR SILVER CORP | $1.0M | 0.93% | 111,000 | Common | SOLE |
Source: SEC EDGAR · raw 13F holdings as filed. The Class column shows the option type when reported (Put/Call) or Common when the issuer's equity is held directly. 13F discloses long positions only.