GRATIA CAPITAL, LLC — 13F Holdings & Portfolio
CIK 1599793 · latest 13F-HR filed 2026-05-15
GRATIA CAPITAL, LLC manages $227.2M in 13F-reported U.S. long-equity assets across 64 reported positions as of its 2026-03-31 13F-HR filing. Its largest disclosed positions are IWM (16.91%), AEHR (8.80%), TRTX (8.05%). Quarter over quarter (versus its 2025-12-31 filing) the fund opened 6 new positions, exited 9, added to 4, and trimmed 13.
AUM is the long-equity portion reported on Form 13F-HR. Excludes short positions, cash, foreign holdings, and non-13F assets. For informational purposes only — not investment advice.
$227.2M
Long-equity book
64
Distinct positions
2026-03-31
Filed 2026-05-15
+6 / −9 / ↑4 / ↓13
vs 2025-12-31
| Name | Title / Status | Ownership | Type |
|---|
Top Adds (vs prior quarter)
- FRANKLIN BSP RLTY TR INC$10.7M +123.5%
- TPG RE FIN TR INC$3.6M +20.6%
- TSAKOS ENERGY NAVIGATION LTD$735.9K +22.9%
- BETTER HOME & FINANCE HOLDIN$618.6K +18.7%
Top Trims
- CADIZ INC-$5.9M -70.4%
- GRANITE PT MTG TR INC-$2.1M -39.6%
- MAGNERA CORP-$1.9M -40.2%
- NATIONAL CINEMEDIA INC-$1.6M -61.6%
- CLAROS MTG TR INC-$1.2M -22.2%
New Positions
- WALKER & DUNLOP INC$5.0M
- DUOS TECHNOLOGIES GROUP INC$4.0M
- ANTERIX INC$3.3M
- U HAUL HOLDING COMPANY$2.1M
- KOSMOS ENERGY LTD$2.0M
Exited Positions
- BOYD GAMING CORP$4.0M
- TERAWULF INC$3.5M
- JAKKS PAC INC$3.0M
- BRIGHTSPIRE CAPITAL INC$2.8M
- A2Z CUST2MATE SOLUTIONS CORP$2.6M
Rows tagged Call or Put are options positions, not stock. Per SEC Form 13F-HR, Value shows the notional value of the underlying (shares covered × underlying price), not the option premium. Shares is the number of underlying shares covered (divide by 100 for contract count).
| # | Issuer | Symbol | CUSIP | Value | Weight | Shares | Type |
|---|---|---|---|---|---|---|---|
| 1 | ISHARES TR Put | IWM | 464287655 | $38.4M | 16.91% | 154,900 | SH |
| 2 | AEHR TEST SYS Call | AEHR | 00760J108 | $20.0M | 8.80% | 538,900 | SH |
| 3 | TPG RE FIN TR INC | TRTX | 87266M107 | $18.3M | 8.05% | 2,341,097 | SH |
| 4 | FRANKLIN BSP RLTY TR INC | FBRT | 35243J101 | $16.7M | 7.35% | 1,966,826 | SH |
| 5 | TPG RE FIN TR INC Call | TRTX | 87266M107 | $12.5M | 5.50% | 1,600,000 | SH |
| 6 | ISHARES TR Put | IWM | 464287655 | $11.2M | 4.92% | 45,100 | SH |
| 7 | ANTERIX INC Call | ATEX | 03676C100 | $5.9M | 2.60% | 154,900 | SH |
| 8 | AEHR TEST SYS Call | AEHR | 00760J108 | $5.9M | 2.58% | 158,100 | SH |
| 9 | WEYERHAEUSER CO Call | WY | 962166104 | $5.6M | 2.48% | 230,600 | SH |
| 10 | NAVIOS MARITIME PARTNERS LP | NMM | Y62267409 | $5.3M | 2.33% | 78,467 | SH |
| 11 | WALKER & DUNLOP INC Call | WD | 93148P102 | $5.2M | 2.27% | 116,300 | SH |
| 12 | DAVE INC | DAVE | 23834J201 | $4.6M | 2.01% | 26,216 | SH |
| 13 | HUDSON PACIFIC PROPERTIES IN Call | HPP | 444097406 | $4.5M | 1.99% | 766,500 | SH |
| 14 | WALKER & DUNLOP INC | WD | 93148P102 | $3.8M | 1.67% | 85,603 | SH |
| 15 | KOSMOS ENERGY LTD Call | KOS | 500688106 | $3.2M | 1.39% | 1,137,300 | SH |
| 16 | CLAROS MTG TR INC | CMTG | 18270D106 | $3.1M | 1.36% | 1,301,212 | SH |
| 17 | TSAKOS ENERGY NAVIGATION LTD | TEN | G9108L173 | $3.0M | 1.34% | 77,232 | SH |
| 18 | DUOS TECHNOLOGIES GROUP INC | DUOT | 266042407 | $3.0M | 1.34% | 442,932 | SH |
| 19 | BETTER HOME & FINANCE HOLDIN | BETR | 08774B508 | $3.0M | 1.31% | 83,533 | SH |
| 20 | MASTERCRAFT BOAT HLDGS INC | MCFT | 57637H103 | $2.9M | 1.29% | 142,475 | SH |
| 21 | TPG RE FIN TR INC | TRTX | 87266M107 | $2.8M | 1.24% | 360,652 | SH |
| 22 | FRANKLIN BSP RLTY TR INC | FBRT | 35243J101 | $2.6M | 1.17% | 311,874 | SH |
| 23 | SUNRISE RLTY TR INC | SUNS | 867981102 | $2.6M | 1.15% | 340,220 | SH |
| 24 | ANTERIX INC | ATEX | 03676C100 | $2.6M | 1.15% | 68,122 | SH |
| 25 | GRANITE PT MTG TR INC | GPMT | 38741L107 | $2.5M | 1.12% | 1,755,203 | SH |
| 26 | COMSTOCK INC | LODE | 205750409 | $2.5M | 1.12% | 833,764 | SH |
| 27 | MAGNERA CORP | MAGN | 55939A107 | $2.1M | 0.94% | 224,872 | SH |
| 28 | CADIZ INC | CDZI | 127537207 | $1.8M | 0.79% | 365,989 | SH |
| 29 | ANTERIX INC Call | ATEX | 03676C100 | $1.7M | 0.76% | 45,100 | SH |
| 30 | WEYERHAEUSER CO Call | WY | 962166104 | $1.7M | 0.75% | 69,400 | SH |
| 31 | U HAUL HOLDING COMPANY | UHAL.B | 023586506 | $1.6M | 0.71% | 36,067 | SH |
| 32 | NAVIOS MARITIME PARTNERS LP | NMM | Y62267409 | $1.6M | 0.69% | 23,389 | SH |
| 33 | AEHR TEST SYS | AEHR | 00760J108 | $1.5M | 0.67% | 41,207 | SH |
| 34 | KOSMOS ENERGY LTD | KOS | 500688106 | $1.5M | 0.67% | 543,985 | SH |
| 35 | WALKER & DUNLOP INC Call | WD | 93148P102 | $1.5M | 0.66% | 33,700 | SH |
| 36 | DHT HOLDINGS INC Call | DHT | Y2065G121 | $1.4M | 0.62% | 77,700 | SH |
| 37 | DAVE INC | DAVE | 23834J201 | $1.4M | 0.61% | 8,009 | SH |
| 38 | HUDSON PACIFIC PROPERTIES IN Call | HPP | 444097406 | $1.4M | 0.61% | 233,500 | SH |
| 39 | WALKER & DUNLOP INC | WD | 93148P102 | $1.2M | 0.54% | 27,397 | SH |
| 40 | MASTERCRAFT BOAT HLDGS INC | MCFT | 57637H103 | $1.1M | 0.47% | 52,565 | SH |
| 41 | KOSMOS ENERGY LTD Call | KOS | 500688106 | $1.0M | 0.44% | 362,700 | SH |
| 42 | ARCHER AVIATION INC | ACHR | 03945R102 | $996.7K | 0.44% | 192,793 | SH |
| 43 | BETTER HOME & FINANCE HOLDIN | BETR | 08774B508 | $955.3K | 0.42% | 26,820 | SH |
| 44 | CLAROS MTG TR INC | CMTG | 18270D106 | $949.3K | 0.42% | 398,872 | SH |
| 45 | DUOS TECHNOLOGIES GROUP INC | DUOT | 266042407 | $940.3K | 0.41% | 137,068 | SH |
| 46 | TSAKOS ENERGY NAVIGATION LTD | TEN | G9108L173 | $899.5K | 0.40% | 22,796 | SH |
| 47 | COMSTOCK INC | LODE | 205750409 | $831.6K | 0.37% | 272,657 | SH |
| 48 | SUNRISE RLTY TR INC | SUNS | 867981102 | $756.2K | 0.33% | 98,596 | SH |
| 49 | ANTERIX INC | ATEX | 03676C100 | $740.0K | 0.33% | 19,378 | SH |
| 50 | MAGNERA CORP | MAGN | 55939A107 | $710.9K | 0.31% | 74,755 | SH |
| Period | Filed | AUM | Holdings | Accession |
|---|---|---|---|---|
| 2026-03-31 | 2026-05-15 | $227.2M | 64 | 0001599793-26-000003 |
| 2025-12-31 | 2026-02-17 | $134.1M | 60 | 0001599793-26-000002 |
| 2025-09-30 | 2025-11-14 | $139.4M | 66 | 0001599793-25-000005 |