GRATIA CAPITAL, LLC
Filing Date
Global Rank
#4,504
/ 8,622
▲ 752
· as of Mar 2026
Top Industry
REIT - Mortgage
36.3%
3Y Alpha vs SPY
-4.8%
Period ended 4 months ago
Filed May 15, 2026 · 2mo
25 quarters · since Mar 2020
Clone Performance
Jul 2023–Jul 2026 · vs SPYHypothetical 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.
Cloned portfolio
+39.9%
SPY
+67.9%
Annualised alpha
-7.0%
Max drawdown
−26.6%
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. It tracks 78% of reported value on average across 13 quarters. Past performance does not predict future results.
Portfolio Concentration
25 positions · as of Mar 31, 2026 · Δ vs Dec 31, 2025Top 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 |
|---|---|---|
| Real Estate | 43.8% | $76,840,735 |
| Technology | 21.5% | $37,693,632 |
| Financial Services | 8.9% | $15,602,712 |
| Communication Services | 6.8% | $11,949,523 |
| Energy | 6.8% | $11,945,147 |
| Industrials | 4.5% | $7,869,981 |
| Consumer Cyclical | 2.3% | $4,000,270 |
| Basic Materials | 1.9% | $3,382,440 |
| Consumer Defensive | 1.6% | $2,849,452 |
| Utilities | 1.4% | $2,508,792 |
| Healthcare | 0.4% | $709,499 |
Last Quarter's Activity
Export CSVAdded To
Positions the filer increased
6 positions
| Ticker | Company | Δ Shares | Shares | Value | Open |
|---|---|---|---|---|---|
| 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 | |
| BETRW | 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 | Open |
|---|---|---|---|---|---|
| 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
Sold Out
Positions the filer fully exited
9 positions
| Ticker | Company | Shares | Value | Open |
|---|---|---|---|---|
| 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. | ||||
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 | Value (USD) | % of Portfolio | History |
|---|---|---|---|---|---|---|
| TRTX |
TPG RE Finance Trust, Inc.
CALL
+ SHARES
Real Estate
|
Added | 4,301,749 | $33,596,659 | 19.16% | |
| AEHR |
Aehr Test Systems
CALL
+ SHARES
Technology
|
Added | 748,560 | $27,756,604 | 15.83% | |
| FBRT |
Franklin BSP Realty Trust, Inc.
Real Estate
|
Added | 2,278,700 | $19,346,162 | 11.03% | |
| WD |
Walker & Dunlop, Inc.
CALL
+ SHARES
Financial Services
|
NEW | 263,000 | $11,671,939 | 6.66% | |
| ATEX |
Anterix Inc.
CALL
+ SHARES
Communication Services
|
NEW | 287,500 | $10,979,624 | 6.26% | |
| WY |
Weyerhaeuser Co
CALL
Real Estate
|
NEW | 300,000 | $7,329,000 | 4.18% | |
| NMM |
Navios Maritime Partners L.P.
Industrials
|
Reduced | 101,856 | $6,873,242 | 3.92% | |
| KOS |
Kosmos Energy Ltd.
CALL
+ SHARES
Energy
|
Added | 2,219,800 | $6,171,043 | 3.52% | |
| DAVE |
Dave Inc./DE
Technology
|
Added | 34,225 | $5,958,229 | 3.40% | |
| HPP |
Hudson Pacific Properties, Inc.
CALL
Real Estate
|
Held | 1,000,000 | $5,910,000 | 3.37% | |
| CMTG |
Claros Mortgage Trust, Inc.
Real Estate
|
Held | 1,700,084 | $4,046,199 | 2.31% | |
| MCFT |
MasterCraft Boat Holdings, Inc.
Consumer Cyclical
|
Reduced | 195,040 | $4,000,270 | 2.28% | |
| DUOT |
Duos Technologies Group, Inc.
Technology
|
NEW | 580,000 | $3,978,799 | 2.27% | |
| TEN |
Tsakos Energy Navigation Ltd
Energy
|
Reduced | 100,028 | $3,947,104 | 2.25% | |
| BETRW |
Better Home & Finance Holding Co
Financial Services
|
Added | 110,353 | $3,930,773 | 2.24% | |
| LODE |
Comstock Inc.
Basic Materials
|
Reduced | 1,106,421 | $3,374,583 | 1.92% | |
| SUNS |
Sunrise Realty Trust, Inc.
Real Estate
|
Reduced | 438,816 | $3,365,718 | 1.92% | |
| GPMT |
Granite Point Mortgage Trust Inc.
Real Estate
|
Held | 2,239,309 | $3,246,997 | 1.85% | |
| MAGN |
Magnera Corp
Consumer Defensive
|
Reduced | 299,627 | $2,849,452 | 1.62% | |
| CDZI |
Cadiz Inc
CALL
+ SHARES
Utilities
|
Reduced | 510,956 | $2,508,792 | 1.43% | |
| DHT |
DHT Holdings, Inc.
CALL
Energy
|
NEW | 100,000 | $1,827,000 | 1.04% | |
| ACHR |
Archer Aviation Inc.
Industrials
|
Held | 192,793 | $996,739 | 0.57% | |
| NCMI |
National CineMedia, Inc.
Communication Services
|
Reduced | 318,000 | $969,899 | 0.55% | |
| SNYR |
Synergy CHC Corp.
Healthcare
|
Reduced | 550,000 | $709,499 | 0.40% | |
| UAMY |
United States Antimony Corp
Basic Materials
|
Reduced | 900 | $7,857 | 0.00% |