GRATIA CAPITAL, LLC

CIK

1599793

Location

LOS ANGELES, CA

Portfolio Value

Small $165,350,340

Diversification

Diversified

Filing Date

Global Rank

#4,998 / 8,700 ▲ 603

Top Industry

Semiconductor Equipment & Materials 33.4%

3Y Alpha vs SPY

-13.7%

Period ended 2 months ago

Filed Aug 14, 2026 · 30d

26 quarters · since Mar 2020

Clone Performance

Sep 2023–Sep 2026 · vs SPY

Hypothetical growth of buying every stock this filer reported holding, rebalancing on each filing and indexed to the same start. Option positions cannot be bought this way and are left out.

Not a measure of this manager's performance. Most of GRATIA CAPITAL, LLC's reported book is option positions, which a stock-only clone cannot replicate. The figures below are the return of the 70% that is ordinary stock — as little as 46% in one quarter — so a manager whose options thesis lost money can still show a large gain here.

Cloned portfolio

+14.3%

SPY

+71.2%

Annualised alpha

-15.1%

Max drawdown

−28.9%

Estimate. 13F holdings are quarter-lagged, so the clone rebalances about 45 days after each period end — when the filing becomes public — and it excludes option and short positions. Returns use comparable raw closes and exclude dividends. Returns are unavailable when a held security or benchmark crosses a captured split without a certified price basis; the requested window is not shortened to hide it. It tracks 70% of reported value on average across 13 quarters. Past performance does not predict future results.

Portfolio Concentration

29 tracked positions · as of Jun 30, 2026 · Δ vs Mar 31, 2026

Top Position

33.4%

+11.6 pts

Top 5

61.9%

−0.6 pts

Top 10

77.0%

−2.0 pts

HHI

1,430

Diversified+395

Portfolio Trend

26 quarters · across all stocks

Sector Breakdown

As of Jun 30, 2026

Sector	% Portfolio	Value	Positions
Technology	38.2%	$63,189,768	5
Real Estate	32.3%	$53,417,132	8
Industrials	7.3%	$12,055,274	5
Financial Services	7.1%	$11,757,303	4
Basic Materials	7.0%	$11,574,163	3
Energy	4.1%	$6,740,318	2
Consumer Cyclical	2.4%	$3,974,136	1
Consumer Defensive	1.6%	$2,642,246	1

Last Quarter's Activity

Export CSV

Jun 30, 2026 vs Mar 31, 2026

Added To

Positions the filer increased

1 positions

Ticker	Company	Δ Shares	Shares	Value	Open
LODE	Comstock Inc.	+761,902	1,868,323	$7,772,223
No positions match the current search.

Trimmed

Positions the filer reduced

18 positions

Ticker	Company	Δ Shares	Shares	Value
TRTX	TPG RE Finance Trust, Inc.	−2,234,416	2,067,333	$17,303,577
FBRT	Franklin BSP Realty Trust, Inc.	−509,330	1,769,370	$14,402,671
GPMT	Granite Point Mortgage Trust Inc.	−500,098	1,739,211	$2,608,816
HPP	Hudson Pacific Properties, Inc.	−500,000	500,000	$7,595,000
CMTG	Claros Mortgage Trust, Inc.	−398,872	1,301,212	$3,057,848
HPAI	Helport AI Ltd	−310,291	994,071	$0
DUOT	Duos Technologies Group, Inc.	−309,725	270,275	$3,243,300
AEHR	Aehr Test Systems	−173,060	575,500	$55,282,530
WD	Walker & Dunlop, Inc.	−130,081	132,919	$7,270,669
KOS	Kosmos Energy Ltd.	−118,822	2,100,978	$4,433,063
SUNS	Sunrise Realty Trust, Inc.	−99,461	339,355	$2,680,904
MAGN	Magnera Corp	−74,755	224,872	$2,642,246
WY	Weyerhaeuser Co	−69,400	230,600	$5,520,564
NMM	Navios Maritime Partners L.P.	−48,889	52,967	$3,711,397
MCFT	MasterCraft Boat Holdings, Inc.	−41,123	153,917	$3,974,136
TEN	Tsakos Energy Navigation Ltd	−34,796	65,232	$2,307,255
UHAL	U-Haul Holding Co /NV/	−10,433	36,067	$2,081,065
BETR	Better Home & Finance Holding Co	−9,895	100,458	$2,762,595
No positions match the current search.

New Positions

Positions the filer opened this quarter

9 positions

Ticker	Company	Shares	Value
ADTN	ADTRAN Holdings, Inc.	250,492	$3,481,838
SHIM	Shimmick Corp	726,936	$3,322,097
TGEN	Tecogen Inc.	388,660	$2,028,805
NB	Niocorp Developments Ltd	410,000	$1,976,200
METC	Ramaco Resources, Inc.	138,000	$1,825,740
AKAM	Akamai Technologies Inc	10,000	$1,182,100
HFRO	Highland Opportunities & Income Fund	124,725	$889,289
ONIT	Onity Group Inc.	21,000	$834,750
ACRE	Ares Commercial Real Estate Corp	55,056	$247,752
No positions match the current search.

Sold Out

Positions the filer fully exited

8 positions

Ticker	Company	Shares	Value
AAXJ	iShares MSCI All Country Asia ex Japan ETF	200,000	$49,600,000
ATEX	Anterix Inc.	287,500	$10,979,624
DAVE	Dave Inc./DE	34,225	$5,958,229
CDZI	Cadiz Inc	510,956	$2,508,792
DHT	DHT Holdings, Inc.	100,000	$1,827,000
NCMI	National CineMedia, Inc.	318,000	$969,899
SNYR	Synergy CHC Corp.	550,000	$709,499
UAMY	United States Antimony Corp	900	$7,857
No positions match the current search.

Portfolio Positions

Compact Export CSV View 13F filing

29 tracked positions · $165,350,340 total · filing declares 31 positions · $165,382,956 · as of Jun 30, 2026

All sectors Basic Materials Consumer Cyclical Consumer Defensive Energy Financial Services Industrials Real Estate Technology

Ticker	Company	Type	Shares	Δ Shares	Value (USD)	% Δ Value	% of Portfolio
AEHR	Aehr Test Systems CALL Technology	Reduced	575,500	-173,060	$55,282,530	+99.2%	33.43%
TRTX	TPG RE Finance Trust, Inc. Real Estate	Reduced	2,067,333	-2,234,416	$17,303,577	−48.5%	10.46%
FBRT	Franklin BSP Realty Trust, Inc. Real Estate	Reduced	1,769,370	-509,330	$14,402,671	−25.6%	8.71%
LODE	Comstock Inc. Basic Materials	Added	1,868,323	+761,902	$7,772,223	+130.3%	4.70%
HPP	Hudson Pacific Properties, Inc. CALL Real Estate	Reduced	500,000	-500,000	$7,595,000	+28.5%	4.59%
WD	Walker & Dunlop, Inc. CALL + SHARES Financial Services	Reduced	132,919	-130,081	$7,270,669	−37.7%	4.40%
WY	Weyerhaeuser Co CALL Real Estate	Reduced	230,600	-69,400	$5,520,564	−24.7%	3.34%
KOS	Kosmos Energy Ltd. CALL + SHARES Energy	Reduced	2,100,978	-118,822	$4,433,063	−28.2%	2.68%
MCFT	MasterCraft Boat Holdings, Inc. Consumer Cyclical	Reduced	153,917	-41,123	$3,974,136	−0.7%	2.40%
NMM	Navios Maritime Partners L.P. Industrials	Reduced	52,967	-48,889	$3,711,397	−46.0%	2.24%
ADTN	ADTRAN Holdings, Inc. Technology	NEW	250,492	NEW	$3,481,838	NEW	2.11%
SHIM	Shimmick Corp Industrials	NEW	726,936	NEW	$3,322,097	NEW	2.01%
DUOT	Duos Technologies Group, Inc. Technology	Reduced	270,275	-309,725	$3,243,300	−18.5%	1.96%
CMTG	Claros Mortgage Trust, Inc. Real Estate	Reduced	1,301,212	-398,872	$3,057,848	−24.4%	1.85%
BETR	Better Home & Finance Holding Co Financial Services	Reduced	100,458	-9,895	$2,762,595	−29.7%	1.67%
SUNS	Sunrise Realty Trust, Inc. Real Estate	Reduced	339,355	-99,461	$2,680,904	−20.3%	1.62%
MAGN	Magnera Corp Consumer Defensive	Reduced	224,872	-74,755	$2,642,246	−7.3%	1.60%
GPMT	Granite Point Mortgage Trust Inc. Real Estate	Reduced	1,739,211	-500,098	$2,608,816	−19.7%	1.58%
TEN	Tsakos Energy Navigation Ltd Energy	Reduced	65,232	-34,796	$2,307,255	−41.5%	1.40%
UHAL	U-Haul Holding Co /NV/ Industrials	Reduced	36,067	-10,433	$2,081,065	+0.2%	1.26%
TGEN	Tecogen Inc. Industrials	NEW	388,660	NEW	$2,028,805	NEW	1.23%
NB	Niocorp Developments Ltd Basic Materials	NEW	410,000	NEW	$1,976,200	NEW	1.20%
METC	Ramaco Resources, Inc. Basic Materials	NEW	138,000	NEW	$1,825,740	NEW	1.10%
AKAM	Akamai Technologies Inc CALL Technology	NEW	10,000	NEW	$1,182,100	NEW	0.71%
ACHR	Archer Aviation Inc. Industrials	Held	192,793	0	$911,910	−8.5%	0.55%
HFRO	Highland Opportunities & Income Fund Financial Services	NEW	124,725	NEW	$889,289	NEW	0.54%
ONIT	Onity Group Inc. Financial Services	NEW	21,000	NEW	$834,750	NEW	0.50%
ACRE	Ares Commercial Real Estate Corp Real Estate	NEW	55,056	NEW	$247,752	NEW	0.15%
HPAI	Helport AI Ltd Technology	Reduced	994,071	-310,291	$0	—	0.00%

Covers the securities this platform tracks: U.S.-listed common stock and the put/call positions reported on it. A 13F can also report security types outside that coverage — preferred shares, bonds, warrants, untracked share classes — so the filing's own declared total can exceed the figures above. The source filing is linked at the top of this table.