GRATIA CAPITAL, LLC
13F Reported Value
ⓘ$227.2M
incl. option notional
Equity Holdings
ⓘ$105.7M
Option Notional
ⓘ$121.5M
$49.6M puts / $71.9M calls
Holdings
34
Latest Filing
2026-03-31
Filing Quarter
Q1 2026
Portfolio Overview
GRATIA CAPITAL, LLC disclosed 34 positions worth $227.2M in its Form 13F-HR for Q1 2026 — $105.7M in common stock plus $121.5M of put/call option positions (reported at underlying notional value, not premium at risk), followed by $AEHR and $TRTX. During the quarter the fund opened 13 new positions and exited 10 and a full exit from $BYD. The portfolio is most concentrated in Real Estate (48.4% of disclosed assets). All figures are sourced directly from GRATIA CAPITAL, LLC’s Form 13F-HR filing with the SEC under CIK 1599793.
AI Fund Analysis
ConcentratingSector Allocation
AUM History
Top Equity Holdings by Value
Option Positions
13F rules report options at the value of the underlying shares (notional) — not the premium paid or capital at risk. Shown separately from the equity sleeve above.
Quarterly Activity — Q1 2026
Click any card to unlockTop Holdings
ISHARES TR PUT
—Quality
$49.6M200,000 sh- 16.3#2,738
Quality
$25.8M697,000 sh - —
Quality
$21.1M2,701,749 sh - 57.0
Quality
$19.3M2,278,700 sh - $12.5M1,600,000 sh
- 45.2
Quality
$7.6M200,000 sh - 52.9
Quality
$7.3M300,000 sh - —
Quality
$6.9M101,856 sh - 48.6
Quality
$6.7M150,000 sh - 78.1
Quality
$6.0M34,225 sh
| Company | Quality | Value | Shares |
|---|---|---|---|
| ISHARES TR PUT | — | $49.6M | 200,000 |
 AEHR TEST SYSTEMS$AEHRCALL | 16.3#2,738 | $25.8M | 697,000 |
 TPG RE Finance Trust, Inc.$TRTX | — | $21.1M | 2,701,749 |
 Franklin BSP Realty Trust, Inc.$FBRT | 57.0 | $19.3M | 2,278,700 |
| TPG RE Finance Trust, Inc.$TRTXCALL | — | $12.5M | 1,600,000 |
 Anterix Inc.$ATEXCALL | 45.2 | $7.6M | 200,000 |
 WEYERHAEUSER CO$WYCALL | 52.9 | $7.3M | 300,000 |
 Navios Maritime Partners L.P.$NMM | — | $6.9M | 101,856 |
 Walker & Dunlop, Inc.$WDCALL | 48.6 | $6.7M | 150,000 |
 Dave Inc./DE$DAVE | 78.1 | $6.0M | 34,225 |
Unlock AI quality scores for every holding
32-signal composite ranking on each of GRATIA CAPITAL, LLC's 34 positions.
Showing top 10 of 34 holdings.
Sector Allocation
Real Estate
$51.1M
Industrials
$15.8M
Financials
$14.9M
Technology
$7.0M
Materials
$6.2M
Communication Services
$3.3M
Utilities
$2.5M
Consumer Discretionary
$2.1M
Full Holdings — GRATIA CAPITAL, LLC (Q1 2026)
All 34 disclosed positions from the latest Form 13F-HR, with quarter-over-quarter share changes and 13F Pro quality scores. Sourced from SEC EDGAR.
| # | Ticker | Company | Value | Weight | QoQ | Quality |
|---|---|---|---|---|---|---|
| 1 | — | ISHARES TR | $49.6M | — | NEW | — |
| 2 | $AEHRCALL | AEHR TEST SYSTEMS | $25.8M | — | +74% | 16.3 |
| 3 | $TRTX | TPG RE Finance Trust, Inc. | $21.1M | 20.0% | +33% | — |
| 4 | $FBRT | Franklin BSP Realty Trust, Inc. | $19.3M | 18.3% | +164% | 57 |
| 5 | $TRTXCALL | TPG RE Finance Trust, Inc. | $12.5M | — | NEW | — |
| 6 | $ATEXCALL | Anterix Inc. | $7.6M | — | NEW | 45.2 |
| 7 | $WYCALL | WEYERHAEUSER CO | $7.3M | — | NEW | 52.9 |
| 8 | $NMM | Navios Maritime Partners L.P. | $6.9M | 6.5% | -24% | — |
| 9 | $WDCALL | Walker & Dunlop, Inc. | $6.7M | — | NEW | 48.6 |
| 10 | $DAVE | Dave Inc./DE | $6.0M | 5.6% | +16% | 78.1 |
| 11 |  $HPPCALL | Hudson Pacific Properties, Inc. | $5.9M | — | +0% | 30.5 |
| 12 | $WD | Walker & Dunlop, Inc. | $5.0M | 4.8% | NEW | 48.6 |
| 13 |  $KOSCALL | Kosmos Energy Ltd. | $4.2M | — | +0% | — |
| 14 |  $CMTG | Claros Mortgage Trust, Inc. | $4.0M | 3.8% | +0% | 18.1 |
| 15 |  $MCFT | MasterCraft Boat Holdings, Inc. | $4.0M | 3.8% | -25% | 32.6 |
| 16 |  $DUOT | DUOS TECHNOLOGIES GROUP, INC. | $4.0M | 3.8% | NEW | 31.8 |
| 17 |  $TEN | TSAKOS ENERGY NAVIGATION LTD | $3.9M | 3.7% | -30% | — |
| 18 |  $BETR | Better Home & Finance Holding Co | $3.9M | 3.7% | +9% | 10.5 |
| 19 |  $LODE | Comstock Inc. | $3.4M | 3.2% | -4% | 23.1 |
| 20 |  $SUNS | Sunrise Realty Trust, Inc. | $3.4M | 3.2% | -3% | 60.6 |
| 21 | $ATEX | Anterix Inc. | $3.3M | 3.2% | NEW | 45.2 |
| 22 |  $GPMT | Granite Point Mortgage Trust Inc. | $3.2M | 3.1% | +0% | — |
| 23 |  $MAGN | Magnera Corp | $2.8M | 2.7% | -5% | 53.2 |
| 24 |  $CDZI | CADIZ INC | $2.5M | 2.4% | -66% | 28.9 |
| 25 |  $UHAL | U-Haul Holding Co /NV/ | $2.1M | 2.0% | NEW | 28.1 |
| 26 | $KOS | Kosmos Energy Ltd. | $2.0M | 1.9% | NEW | — |
| 27 | $AEHR | AEHR TEST SYSTEMS | $1.9M | 1.8% | -63% | 16.3 |
| 28 |  $DHTCALL | DHT Holdings, Inc. | $1.8M | — | NEW | — |
| 29 |  $ACHR | Archer Aviation Inc. | $996,740 | 0.9% | +0% | 25 |
| 30 |  $NCMI | National CineMedia, Inc. | $969,900 | 0.9% | -51% | 38.3 |
| 31 |  $SNYR | Synergy CHC Corp. | $709,500 | 0.7% | -1% | — |
| 32 |  $HPAI | Helport AI Ltd | $143,480 | 0.1% | +0% | — |
| 33 | $CDZICALL | CADIZ INC | $24,550 | — | NEW | 28.9 |
| 34 |  $UAMY | UNITED STATES ANTIMONY CORP | $7,857 | 0.0% | NEW | 32.2 |
New Positions (13)
$TRTXCALL TPG RE Finance Trust, Inc.$12.5M$ATEXCALL Anterix Inc.$7.6M$WYCALL WEYERHAEUSER CO$7.3M$WDCALL Walker & Dunlop, Inc.$6.7M$WD Walker & Dunlop, Inc.$5.0M$DUOT DUOS TECHNOLOGIES GROUP, INC.$4.0M$ATEX Anterix Inc.$3.3M$UHAL U-Haul Holding Co /NV/$2.1M$KOS Kosmos Energy Ltd.$2.0M$DHTCALL DHT Holdings, Inc.$1.8M$CDZICALL CADIZ INC$24,550$UAMY UNITED STATES ANTIMONY CORP$7,857
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