# ARMOR ADVISORS, L.L.C.

> Institutional holdings reported to the SEC as of Q2 2026 on Form 13F. CIK 1600698. Source: https://holderbook.com/funds/1600698-armor-advisors-l-l-c/

- Reported value: $140.1M
- Positions: 16
- Weight of the ten largest: 88.7%
- Filed: 2026-08-10

A 13F reports long US equity positions only. Short positions, bonds, foreign listings, private holdings and cash are not visible, so this is not the manager's whole book.

## Holdings

| Security | Ticker | Value | Shares | Weight | Quarters held |
|---|---|---|---|---|---|
| CRH PLC | [CRH](https://holderbook.com/stocks/CRH/) | $26.8M | 250,577 | 19.1% | 12 |
| SPDR GOLD TR | [GLD](https://holderbook.com/stocks/GLD/) | $17.7M | 0 | 12.6% | 2 |
| NAVIOS MARITIME PARTNERS L P | [NMM](https://holderbook.com/stocks/NMM/) | $13.7M | 196,191 | 9.8% | 8 |
| ZIMMER BIOMET HOLDINGS INC | [ZBH](https://holderbook.com/stocks/ZBH/) | $13.0M | 151,264 | 9.3% | 2 |
| ZOETIS INC | [ZTS](https://holderbook.com/stocks/ZTS/) | $12.0M | 167,197 | 8.6% | 2 |
| KASPI KZ JSC | [KSPI](https://holderbook.com/stocks/KSPI/) | $11.9M | 137,171 | 8.5% | 6 |
| DEVON ENERGY CORP NEW | [DVN](https://holderbook.com/stocks/DVN/) | $8.9M | 216,361 | 6.4% | 2 |
| ALAMOS GOLD INC | [AGI](https://holderbook.com/stocks/AGI/) | $7.8M | 258,383 | 5.6% | 3 |
| BECTON DICKINSON & CO | [BDX](https://holderbook.com/stocks/BDX/) | $7.0M | 46,481 | 5.0% | 1 |
| FIRST CTZNS BANCSHARES INC D | [FCNCA](https://holderbook.com/stocks/FCNCA/) | $5.2M | 2,510 | 3.7% | 13 |
| EOG RES INC | [EOG](https://holderbook.com/stocks/EOG/) | $5.1M | 38,993 | 3.6% | 2 |
| SKEENA RES LTD NEW | [SKE](https://holderbook.com/stocks/SKE/) | $3.8M | 143,756 | 2.7% | 3 |
| FERGUSON ENTERPRISES INC | [FERG](https://holderbook.com/stocks/FERG/) | $3.5M | 14,882 | 2.5% | 7 |
| OSISKO DEVELOPMENT CORP | [ODV](https://holderbook.com/stocks/ODV/) | $1.3M | 522,172 | 0.9% | 2 |
| SEABRIDGE GOLD INC | [SA](https://holderbook.com/stocks/SA/) | $1.3M | 49,716 | 0.9% | 23 |
| ENDEAVOUR SILVER CORP | [EXK](https://holderbook.com/stocks/EXK/) | $901.8K | 108,911 | 0.6% | 3 |

## What the disclosed book did

Not the fund's return. This is the change in value of the positions disclosed on Form 13F, had they been left untouched, against SPY over the same quarter ends.

| Quarter | Book | Market | Difference | Priced |
|---|---|---|---|---|
| Q2 2026 | -3.8% | +14.8% | -18.6% | 100% |
| Q1 2026 | -1.5% | -4.6% | +3.1% | 85% |
| Q4 2025 | +5.4% | +2.4% | +3.0% | 88% |
| Q3 2025 | +20.4% | +7.8% | +12.5% | 86% |
| Q2 2025 | +5.9% | +10.5% | -4.6% | 85% |
| Q1 2025 | +1.4% | -4.6% | +6.0% | 86% |
| Q4 2024 | -14.1% | +2.1% | -16.3% | 81% |
| Q3 2024 | +5.4% | +5.4% | -0.1% | 94% |

## Quarter by quarter

| Quarter | Value | Positions |
|---|---|---|
| Q2 2026 | $140.1M | 16 |
| Q1 2026 | $297.8M | 18 |
| Q4 2025 | $111.8M | 13 |
| Q3 2025 | $179.5M | 15 |
| Q2 2025 | $190.9M | 17 |
| Q1 2025 | $125.5M | 17 |
| Q4 2024 | $96.0M | 12 |
| Q3 2024 | $155.6M | 12 |
| Q2 2024 | $135.9M | 12 |
| Q1 2024 | $164.0M | 14 |
| Q4 2023 | $103.6M | 12 |
| Q3 2023 | $226.7M | 15 |