In its 13F for Q4 2024 (holdings as of December 31, 2024, filed February 14, 2025), Armor Advisors, L.L.C. reported 11 stock positions worth $82.0 million . Its top holding was CRH (CRH) at 34.2% of the portfolio, followed by Franco-Nevada (FNV, 13.9% ) and Ferguson Enterprises (FERG, 12.6% ). Compared with Q3 2024, it opened 3 new positions, sold out of 3, added to 1 and reduced 7. The biggest buy was CRH (CRH, shares +27% ) and the biggest sale an exit from XP Class A (XP).
Location NEW YORK, NY
CIK 0001600698
Portfolio Value $82.0M (Q4 2024) Holdings 11 stocks · $82.0M Holdings quarter Q2 2026 Q1 2026 Q4 2025 Q3 2025 Q2 2025 Q1 2025 Q4 2024 Q3 2024 Q2 2024 Q1 2024
Stock % Of Portfolio ▼ Shares Held Total Value Change vs Q3 2024 CRH CRH PLC 302,886 $28.0M Add +27.3% FNV Franco-Nevada Corp. 97,242 $11.4M Reduce -16.1% FERG Ferguson Enterprises Inc. 59,600 $10.3M New NMM Navios Maritime Partners LP 183,573 $7.9M Reduce -24.4% SBLK Star Bulk Carriers Corp. 365,763 $5.5M Reduce -22.9% ICLR Icon PLC 24,100 $5.1M New FCNCA First Citizens Bcshs Class A 2,284 $4.8M Reduce -60.6% RGLD Royal Gold Inc. 33,358 $4.4M Reduce -66.4% FRO Frontline PLC 190,332 $2.7M New SLV iShares Silver Trust 43,777 $1.2M Reduce -40.0% SA Seabridge Gold Inc. 58,184 $664K Reduce -81.2%
Options reported separately and not counted above: NMM calls ($13.4M), TSLA puts ($606K).
Portfolio Sells Q3 2024 → Q4 2024 Portfolio Sells quarter Q2 2026 Q1 2026 Q4 2025 Q3 2025 Q2 2025 Q1 2025 Q4 2024 Q3 2024 Q2 2024 Q1 2024
Stock Change vs Q3 2024 % Of Portfolio Change To Portfolio ▲ XP XP Inc. Class A Sold out 0.00% −12.16 RGLD Royal Gold Inc. Reduce -66.4% 5.36% −6.22 FRONTLINE LTD Sold out 0.00% −5.53 WPM Wheaton Precious Metals Corp. Sold out 0.00% −3.54 SA Seabridge Gold Inc. Reduce -81.2% 0.81% −3.51 FCNCA First Citizens Bcshs Class A Reduce -60.6% 5.88% −2.99 NMM Navios Maritime Partners LP Reduce -24.4% 9.69% −2.95 SBLK Star Bulk Carriers Corp. Reduce -22.9% 6.67% −2.67 SLV iShares Silver Trust Reduce -40.0% 1.41% −0.32 FNV Franco-Nevada Corp. Reduce -16.1% 13.94% +1.98
Portfolio Buys Q3 2024 → Q4 2024 Portfolio Buys quarter Q2 2026 Q1 2026 Q4 2025 Q3 2025 Q2 2025 Q1 2025 Q4 2024 Q3 2024 Q2 2024 Q1 2024
Stock Change vs Q3 2024 % Of Portfolio Change To Portfolio ▼ CRH CRH PLC Add +27.3% 34.17% +15.84 FERG Ferguson Enterprises Inc. New 12.61% +12.61 ICLR Icon PLC New 6.16% +6.16 FRO Frontline PLC New 3.29% +3.29
Options Activity Q3 2024 → Q4 2024 Security Type Change vs Q3 2024 Underlying Shares Value ▼ SPY SS SPDR S&P 500 ETF Trust-US put Sold out 120,000 $15.8Mbefore exit TSLA Tesla Inc. put New 1,500 $606K
Calls and puts are listed by the shares they cover; their value is not part of the stock holdings above.
All Filings Quarter Positions 13F Reported Value Top Holdings Q2 2026 15 $122.4M CRH, NMM, ZBH, ZTS, KSPI Q1 2026 14 $89.8M CRH, NMM, AGI, KSPI, FCNCA Q4 2025 13 $95.5M CRH, NMM, KSPI, AGI, SLV Q3 2025 13 $105.5M CRH, FNV, RGLD, KSPI, NMM Q2 2025 14 $100.7M CRH, FNV, RGLD, KSPI, FERG Q1 2025 14 $101.6M CRH, FNV, FERG, RGLD, NMM Q4 2024 11 $82.0M CRH, FNV, FERG, NMM, SBLK Q3 2024 11 $120.4M CRH, NMM, XP, FNV, RGLD Q2 2024 11 $126.3M KSPI, CRH, XP, FNV, RGLD Q1 2024 12 $139.4M KSPI, CRH, FNV, RGLD, FCNCA