GRATIA CAPITAL, LLC
13F Reported Value
ⓘ$165.4M
incl. option notional
Equity Holdings
ⓘ$87.0M
Option Notional
ⓘ$78.3M
$0 puts / $78.3M calls
Holdings
31
Latest Filing
2026-06-30
Filing Quarter
Q2 2026
Portfolio Overview
GRATIA CAPITAL, LLC disclosed 31 positions worth $165.4M in its Form 13F-HR for Q2 2026 — $87.0M in common stock plus $78.3M of put/call option positions (reported at underlying notional value, not premium at risk), led by $AEHR (AEHR TEST SYSTEMS) calls, followed by $TRTX and $FBRT. During the quarter the fund opened 9 new positions and exited 12 — including a new stake in $ADTN. The portfolio is most concentrated in Real Estate (46.3% 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
DiversifyingSector 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 — Q2 2026
Click any card to unlockTop Holdings
- 16.5#2,838
Quality
$55.3M575,500 sh - 55.3#1,260
Quality
$17.3M2,067,333 sh - 58.2#1,022
Quality
$14.4M1,769,370 sh - 9.0
Quality
$7.8M1,868,323 sh - 28.2
Quality
$7.6M500,000 sh - 46.7
Quality
$6.4M116,300 sh - 51.3
Quality
$5.5M230,600 sh - 45.6
Quality
$4.0M153,917 sh - 36.0
Quality
$3.7M52,967 sh - 49.4
Quality
$3.5M250,492 sh
| Company | Quality | Value | Shares |
|---|---|---|---|
 AEHR TEST SYSTEMS$AEHRCALL | 16.5#2,838 | $55.3M | 575,500 |
 TPG RE Finance Trust, Inc.$TRTX | 55.3#1,260 | $17.3M | 2,067,333 |
 Franklin BSP Realty Trust, Inc.$FBRT | 58.2#1,022 | $14.4M | 1,769,370 |
 Comstock Inc.$LODE | 9.0 | $7.8M | 1,868,323 |
 Hudson Pacific Properties, Inc.$HPPCALL | 28.2 | $7.6M | 500,000 |
 Walker & Dunlop, Inc.$WDCALL | 46.7 | $6.4M | 116,300 |
 WEYERHAEUSER CO$WYCALL | 51.3 | $5.5M | 230,600 |
 MasterCraft Boat Holdings, Inc.$MCFT | 45.6 | $4.0M | 153,917 |
 Navios Maritime Partners L.P.$NMM | 36.0 | $3.7M | 52,967 |
 ADTRAN Holdings, Inc.$ADTN | 49.4 | $3.5M | 250,492 |
Unlock AI quality scores for every holding
32-signal composite ranking on each of GRATIA CAPITAL, LLC's 31 positions.
Showing top 10 of 31 holdings.
Sector Allocation
Real Estate
$40.3M
Industrials
$16.3M
Materials
$12.4M
Technology
$6.8M
Financials
$4.5M
Energy
$3.9M
Consumer Discretionary
$2.1M
Other
$889,289
Full Holdings — GRATIA CAPITAL, LLC (Q2 2026)
All 31 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 | $AEHRCALL | AEHR TEST SYSTEMS | $55.3M | — | -17% | 16.5 |
| 2 | $TRTX | TPG RE Finance Trust, Inc. | $17.3M | 19.9% | -23% | 55.3 |
| 3 | $FBRT | Franklin BSP Realty Trust, Inc. | $14.4M | 16.6% | -22% | 58.2 |
| 4 | $LODE | Comstock Inc. | $7.8M | 8.9% | +69% | 9 |
| 5 | $HPPCALL | Hudson Pacific Properties, Inc. | $7.6M | — | -50% | 28.2 |
| 6 | $WDCALL | Walker & Dunlop, Inc. | $6.4M | — | -22% | 46.7 |
| 7 | $WYCALL | WEYERHAEUSER CO | $5.5M | — | -23% | 51.3 |
| 8 | $MCFT | MasterCraft Boat Holdings, Inc. | $4.0M | 4.6% | -21% | 45.6 |
| 9 | $NMM | Navios Maritime Partners L.P. | $3.7M | 4.3% | -48% | 36 |
| 10 | $ADTN | ADTRAN Holdings, Inc. | $3.5M | 4.0% | NEW | 49.4 |
| 11 |  $SHIM | Shimmick Corp | $3.3M | 3.8% | NEW | 26.9 |
| 12 |  $DUOT | DUOS TECHNOLOGIES GROUP, INC. | $3.2M | 3.7% | -53% | 58.2 |
| 13 |  $CMTG | Claros Mortgage Trust, Inc. | $3.1M | 3.5% | -23% | 12.3 |
| 14 |  $BETR | Better Home & Finance Holding Co | $2.8M | 3.2% | -9% | 43.2 |
| 15 |  $SUNS | Sunrise Realty Trust, Inc. | $2.7M | 3.1% | -23% | 50.5 |
| 16 |  $MAGN | Magnera Corp | $2.6M | 3.0% | -25% | 50.3 |
| 17 |  $GPMT | Granite Point Mortgage Trust Inc. | $2.6M | 3.0% | -22% | 37.3 |
| 18 |  $KOSCALL | Kosmos Energy Ltd. | $2.4M | — | -24% | — |
| 19 |  $TEN | TSAKOS ENERGY NAVIGATION LTD | $2.3M | 2.6% | -35% | — |
| 20 |  $UHAL | U-Haul Holding Co /NV/ | $2.1M | 2.4% | -22% | 47.7 |
| 21 | $KOS | Kosmos Energy Ltd. | $2.0M | 2.3% | +34% | — |
| 22 |  $TGEN | TECOGEN INC. | $2.0M | 2.3% | NEW | 17 |
| 23 |  $NB | NIOCORP DEVELOPMENTS LTD | $2.0M | 2.3% | NEW | — |
| 24 |  $METC | Ramaco Resources, Inc. | $1.8M | 2.1% | NEW | 20.2 |
| 25 |  $AKAMCALL | AKAMAI TECHNOLOGIES INC | $1.2M | — | NEW | 59.5 |
| 26 |  $ACHR | Archer Aviation Inc. | $911,911 | 1.1% | +0% | 24.2 |
| 27 | $WD | Walker & Dunlop, Inc. | $909,059 | 1.0% | -85% | 46.7 |
| 28 |  $HFRO | HIGHLAND OPPORTUNITIES & INCOME FUND | $889,289 | 1.0% | NEW | — |
| 29 |  $ONIT | ONITY GROUP INC. | $834,750 | 1.0% | NEW | 58.3 |
| 30 |  $ACRE | Ares Commercial Real Estate Corp | $247,752 | 0.3% | NEW | 34.7 |
| 31 |  $HPAI | Helport AI Ltd | $32,606 | 0.0% | -24% | — |
New Positions (9)
$ADTN ADTRAN Holdings, Inc.$3.5M$SHIM Shimmick Corp$3.3M$TGEN TECOGEN INC.$2.0M$NB NIOCORP DEVELOPMENTS LTD$2.0M$METC Ramaco Resources, Inc.$1.8M$AKAMCALL AKAMAI TECHNOLOGIES INC$1.2M$HFRO HIGHLAND OPPORTUNITIES & INCOME FUND$889,289$ONIT ONITY GROUP INC.$834,750$ACRE Ares Commercial Real Estate Corp$247,752
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