GRATIA CAPITAL, LLC

CIK

1599793

Location

LOS ANGELES, CA

Portfolio Value

Small $175,352,183

Diversification

Diversified

Filing Date

Global Rank

#4,163 / 8,232 ▲ 859

Top Industry

REIT - Mortgage 36.3%

3Y Alpha vs SPY

-3.4%

Period ended 2 months ago

Filed May 15, 2026 · 29d

25 quarters · since Mar 2020

Clone Performance

Jun 2023–Jun 2026 · vs SPY

Hypothetical growth of cloning every reported 13F position and rebalancing on each filing, indexed to the same start.

Cloned portfolio

+62.6%

SPY

+76.5%

Annualised alpha

-3.3%

Max drawdown

−26.6%

Estimate. 13F holdings are quarter-lagged and long-only, so the clone rebalances about 45 days after each period end — when the filing becomes public — and excludes options and short positions. Past performance does not predict future results.

Portfolio Concentration

25 positions · as of Mar 31, 2026 · Δ vs Dec 31, 2025

Top Position

19.2%

+6.1 pts

Top 5

58.9%

+17.0 pts

Top 10

77.3%

+13.6 pts

HHI

934

Diversified+369

Portfolio Trend

25 quarters · across all stocks

Sector Breakdown

As of Mar 31, 2026

Sector	% Portfolio	Value	Positions
Real Estate	43.8%	$76,840,735	7
Technology	21.5%	$37,693,632	3
Financial Services	8.9%	$15,602,712	2
Communication Services	6.8%	$11,949,523	2
Energy	6.8%	$11,945,147	3
Industrials	4.5%	$7,869,981	2
Consumer Cyclical	2.3%	$4,000,270	1
Basic Materials	1.9%	$3,382,440	2
Consumer Defensive	1.6%	$2,849,452	1
Utilities	1.4%	$2,508,792	1
Healthcare	0.4%	$709,499	1

Last Quarter's Activity

Export CSV

Mar 31, 2026 vs Dec 31, 2025

Added To

Positions the filer increased

6 positions

Ticker	Company	Δ Shares	Shares	Value
TRTX	TPG RE Finance Trust, Inc.	+2,270,381	4,301,749	$33,596,659
FBRT	Franklin BSP Realty Trust, Inc.	+1,415,778	2,278,700	$19,346,162
KOS	Kosmos Energy Ltd.	+719,800	2,219,800	$6,171,043
AEHR	Aehr Test Systems	+211,000	748,560	$27,756,604
BETR	Better Home & Finance Holding Co	+8,690	110,353	$3,930,773
DAVE	Dave Inc./DE	+4,600	34,225	$5,958,229
No positions match the current search.

Trimmed

Positions the filer reduced

10 positions

Ticker	Company	Δ Shares	Shares	Value
CDZI	Cadiz Inc	−985,538	510,956	$2,508,792
UAMY	United States Antimony Corp	−419,100	900	$7,857
NCMI	National CineMedia, Inc.	−332,000	318,000	$969,899
MCFT	MasterCraft Boat Holdings, Inc.	−65,800	195,040	$4,000,270
LODE	Comstock Inc.	−50,002	1,106,421	$3,374,583
TEN	Tsakos Energy Navigation Ltd	−43,200	100,028	$3,947,104
NMM	Navios Maritime Partners L.P.	−32,800	101,856	$6,873,242
MAGN	Magnera Corp	−15,000	299,627	$2,849,452
SUNS	Sunrise Realty Trust, Inc.	−15,000	438,816	$3,365,718
SNYR	Synergy CHC Corp.	−5,000	550,000	$709,499
No positions match the current search.

New Positions

Positions the filer opened this quarter

5 positions

Ticker	Company	Shares	Value
WD	Walker & Dunlop, Inc.	263,000	$11,671,939
ATEX	Anterix Inc.	287,500	$10,979,624
WY	Weyerhaeuser Co	300,000	$7,329,000
DUOT	Duos Technologies Group, Inc.	580,000	$3,978,799
DHT	DHT Holdings, Inc.	100,000	$1,827,000
No positions match the current search.

Sold Out

Positions the filer fully exited

9 positions

Ticker	Company	Shares	Value
BYD	Boyd Gaming Corp	46,389	$3,954,198
WULF	Terawulf Inc.	304,038	$3,493,396
JAKK	Jakks Pacific Inc	179,520	$3,030,296
BRSP	BrightSpire Capital, Inc.	501,585	$2,808,876
AZ	A2z Cust2mate Solutions Corp.	395,410	$2,574,118
MFA	Mfa Financial, Inc.	225,469	$2,099,115
BZH	Beazer Homes USA Inc	46,131	$935,075
DDI	DoubleDown Interactive Co., Ltd.	90,870	$784,207
ARQ	Arq, Inc.	155,000	$506,849
No positions match the current search.

Portfolio Positions

Compact Export CSV View 13F filing

25 positions · $175,352,183 total · as of Mar 31, 2026

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

Ticker	Company	Type	Shares	Δ Shares	Value (USD)	% Δ Value	% of Portfolio
TRTX	TPG RE Finance Trust, Inc. Real Estate	Added	4,301,749	+2,270,381	$33,596,659	+92.1%	19.16%
AEHR	Aehr Test Systems Technology	Added	748,560	+211,000	$27,756,604	+155.7%	15.83%
FBRT	Franklin BSP Realty Trust, Inc. Real Estate	Added	2,278,700	+1,415,778	$19,346,162	+123.5%	11.03%
WD	Walker & Dunlop, Inc. Financial Services	NEW	263,000	NEW	$11,671,939	NEW	6.66%
ATEX	Anterix Inc. Communication Services	NEW	287,500	NEW	$10,979,624	NEW	6.26%
WY	Weyerhaeuser Co Real Estate	NEW	300,000	NEW	$7,329,000	NEW	4.18%
NMM	Navios Maritime Partners L.P. Industrials	Reduced	101,856	-32,800	$6,873,242	−2.6%	3.92%
KOS	Kosmos Energy Ltd. Energy	Added	2,219,800	+719,800	$6,171,043	+352.1%	3.52%
DAVE	Dave Inc./DE Technology	Added	34,225	+4,600	$5,958,229	−9.2%	3.40%
HPP	Hudson Pacific Properties, Inc. Real Estate	Held	1,000,000	0	$5,910,000	−45.4%	3.37%
CMTG	Claros Mortgage Trust, Inc. Real Estate	Held	1,700,084	0	$4,046,199	−22.2%	2.31%
MCFT	MasterCraft Boat Holdings, Inc. Consumer Cyclical	Reduced	195,040	-65,800	$4,000,270	−18.9%	2.28%
DUOT	Duos Technologies Group, Inc. Technology	NEW	580,000	NEW	$3,978,799	NEW	2.27%
TEN	Tsakos Energy Navigation Ltd Energy	Reduced	100,028	-43,200	$3,947,104	+22.9%	2.25%
BETR	Better Home & Finance Holding Co Financial Services	Added	110,353	+8,690	$3,930,773	+18.7%	2.24%
LODE	Comstock Inc. Basic Materials	Reduced	1,106,421	-50,002	$3,374,583	−22.4%	1.92%
SUNS	Sunrise Realty Trust, Inc. Real Estate	Reduced	438,816	-15,000	$3,365,718	−21.4%	1.92%
GPMT	Granite Point Mortgage Trust Inc. Real Estate	Held	2,239,309	0	$3,246,997	−39.6%	1.85%
MAGN	Magnera Corp Consumer Defensive	Reduced	299,627	-15,000	$2,849,452	−40.2%	1.62%
CDZI	Cadiz Inc Utilities	Reduced	510,956	-985,538	$2,508,792	−70.1%	1.43%
DHT	DHT Holdings, Inc. Energy	NEW	100,000	NEW	$1,827,000	NEW	1.04%
ACHR	Archer Aviation Inc. Industrials	Held	192,793	0	$996,739	−31.3%	0.57%
NCMI	National CineMedia, Inc. Communication Services	Reduced	318,000	-332,000	$969,899	−61.6%	0.55%
SNYR	Synergy CHC Corp. Healthcare	Reduced	550,000	-5,000	$709,499	−31.3%	0.40%
UAMY	United States Antimony Corp Basic Materials	Reduced	900	-419,100	$7,857	−99.6%	0.00%