Filed: 11/14/2025ACC: 0001599793-25-000005
📋 What this filing means
GRATIA CAPITAL, LLC filed this quarterly 13F‑HR report disclosing 31 equity positions with a total reported market value of $139.41M. This filing provides a transparent view of the manager's long equity holdings as of the quarter end.
31
Positions
$139.41M
Total AUM (reported)
19.88M
Total Shares
Allocation by class
COM$73.21M52.5%
COM NEW$17.18M12.3%
COMMON STOCK$14.34M10.3%
COM CL A$9.08M6.5%
COM SHS$6.96M5.0%
COM UNIT LPI$6.40M4.6%
COM STK$5.12M3.7%
Portfolio Concentration
Top 3$47.70M34.2%
4–10$37.53M26.9%
11–25$47.01M33.7%
Rest$7.16M5.1%
Top 3 weight
34.2%
Top 10 weight
61.1%
Voting Authority Distribution
Total shares with voting rights: 19.88M
Sole
Full voting authority
15.56M
shares
% of voting shares78.3%
Shared
Joint voting authority
0.00
shares
% of voting shares0.0%
None
No voting authority
4.32M
shares
% of voting shares21.7%
Investment Discretion (by position count)
Sole31
Shared0
Other0
Dominant voting typeSole · 78.3% of voting shares
Institutional Holdings31
Rows:
TPG RE FIN TR INC
SOLEShares2.66M
TypeSH
Market value$22.76M
16.33%
Sole
2.16M
Shared
0.00
None
500K
AEHR TEST SYS
SOLEShares539.56K
TypeSH
Market value$16.25M
11.65%
Sole
139.56K
Shared
0.00
None
400K
FRANKLIN BSP RLTY TR INC
SOLEShares800.57K
TypeSH
Market value$8.69M
6.24%
Sole
800.57K
Shared
0.00
None
0.00
NAVIOS MARITIME PARTNERS L P
SOLEShares142.16K
TypeSH
Market value$6.40M
4.59%
Sole
142.16K
Shared
0.00
None
0.00
CADIZ INC
SOLEShares1.33M
TypeSH
Market value$6.27M
4.50%
Sole
828.67K
Shared
0.00
None
500K
CLAROS MTG TR INC
SOLEShares1.70M
TypeSH
Market value$5.64M
4.05%
Sole
1.70M
Shared
0.00
None
0.00
MASTERCRAFT BOAT HLDGS INC
SOLEShares250K
TypeSH
Market value$5.37M
3.85%
Sole
250K
Shared
0.00
None
0.00
GRANITE PT MTG TR INC
SOLEShares1.71M
TypeSH
Market value$5.12M
3.68%
Sole
1.71M
Shared
0.00
None
0.00
SUNRISE RLTY TR INC
SOLEShares453.82K
TypeSH
Market value$4.72M
3.38%
Sole
453.82K
Shared
0.00
None
0.00
BOYD GAMING CORP
SOLEShares46.39K
TypeSH
Market value$4.01M
2.88%
Sole
46.39K
Shared
0.00
None
0.00
XPONENTIAL FITNESS INC
SOLEShares475.14K
TypeSH
Market value$3.70M
2.66%
Sole
475.14K
Shared
0.00
None
0.00
MAGNERA CORP
SOLEShares314.63K
TypeSH
Market value$3.69M
2.65%
Sole
314.63K
Shared
0.00
None
0.00
DUOS TECHNOLOGIES GROUP INC
SOLEShares495.59K
TypeSH
Market value$3.65M
2.62%
Sole
495.59K
Shared
0.00
None
0.00
BETTER HOME & FINANCE HOLDIN
SOLEShares60.70K
TypeSH
Market value$3.41M
2.44%
Sole
60.70K
Shared
0.00
None
0.00
A2Z CUST2MATE SOLUTIONS CORP
SOLEShares422K
TypeSH
Market value$3.37M
2.42%
Sole
422K
Shared
0.00
None
0.00
JAKKS PAC INC
SOLEShares179.52K
TypeSH
Market value$3.36M
2.41%
Sole
179.52K
Shared
0.00
None
0.00
COMSTOCK INC
SOLEShares957.42K
TypeSH
Market value$3.27M
2.35%
Sole
957.42K
Shared
0.00
None
0.00
TSAKOS ENERGY NAVIGATION LTD
SOLEShares145.23K
TypeSH
Market value$3.23M
2.31%
Sole
145.23K
Shared
0.00
None
0.00
ARQ INC
SOLEShares442.02K
TypeSH
Market value$3.16M
2.27%
Sole
442.02K
Shared
0.00
None
0.00
BRIGHTSPIRE CAPITAL INC
SOLEShares550K
TypeSH
Market value$2.99M
2.14%
Sole
550K
Shared
0.00
None
0.00
NATIONAL CINEMEDIA INC
SOLEShares650K
TypeSH
Market value$2.93M
2.10%
Sole
650K
Shared
0.00
None
0.00
HUDSON PAC PPTYS INC
SOLEShares1M
TypeSH
Market value$2.76M
1.98%
Sole
0.00
Shared
0.00
None
1M
UNITED STATES ANTIMONY CORP
SOLEShares420K
TypeSH
Market value$2.60M
1.87%
Sole
0.00
Shared
0.00
None
420K
KOSMOS ENERGY LTD
SOLEShares1.50M
TypeSH
Market value$2.49M
1.79%
Sole
0.00
Shared
0.00
None
1.50M
ARCHER AVIATION INC
SOLEShares250K
TypeSH
Market value$2.40M
1.72%
Sole
250K
Shared
0.00
None
0.00
| Issuer | Class | Shares | Type | Value / Portfolio % | Voting — Sole | Shared | None |
|---|---|---|---|---|---|---|---|
TPG RE FIN TR INCSOLE | COM | 2.66M | SH | $22.76M 16.33% | 2.16M | 0.00 | 500K |
AEHR TEST SYSSOLE | COM | 539.56K | SH | $16.25M 11.65% | 139.56K | 0.00 | 400K |
FRANKLIN BSP RLTY TR INCSOLE | COMMON STOCK | 800.57K | SH | $8.69M 6.24% | 800.57K | 0.00 | 0.00 |
NAVIOS MARITIME PARTNERS L PSOLE | COM UNIT LPI | 142.16K | SH | $6.40M 4.59% | 142.16K | 0.00 | 0.00 |
CADIZ INCSOLE | COM NEW | 1.33M | SH | $6.27M 4.50% | 828.67K | 0.00 | 500K |
CLAROS MTG TR INCSOLE | COMMON STOCK | 1.70M | SH | $5.64M 4.05% | 1.70M | 0.00 | 0.00 |
MASTERCRAFT BOAT HLDGS INCSOLE | COM | 250K | SH | $5.37M 3.85% | 250K | 0.00 | 0.00 |
GRANITE PT MTG TR INCSOLE | COM STK | 1.71M | SH | $5.12M 3.68% | 1.71M | 0.00 | 0.00 |
SUNRISE RLTY TR INCSOLE | COM | 453.82K | SH | $4.72M 3.38% | 453.82K | 0.00 | 0.00 |
BOYD GAMING CORPSOLE | COM | 46.39K | SH | $4.01M 2.88% | 46.39K | 0.00 | 0.00 |
XPONENTIAL FITNESS INCSOLE | COM CL A | 475.14K | SH | $3.70M 2.66% | 475.14K | 0.00 | 0.00 |
MAGNERA CORPSOLE | COM SHS | 314.63K | SH | $3.69M 2.65% | 314.63K | 0.00 | 0.00 |
DUOS TECHNOLOGIES GROUP INCSOLE | COM | 495.59K | SH | $3.65M 2.62% | 495.59K | 0.00 | 0.00 |
BETTER HOME & FINANCE HOLDINSOLE | COM NEW CL A | 60.70K | SH | $3.41M 2.44% | 60.70K | 0.00 | 0.00 |
A2Z CUST2MATE SOLUTIONS CORPSOLE | COM | 422K | SH | $3.37M 2.42% | 422K | 0.00 | 0.00 |
JAKKS PAC INCSOLE | COM NEW | 179.52K | SH | $3.36M 2.41% | 179.52K | 0.00 | 0.00 |
COMSTOCK INCSOLE | COM SHS | 957.42K | SH | $3.27M 2.35% | 957.42K | 0.00 | 0.00 |
TSAKOS ENERGY NAVIGATION LTDSOLE | SHS | 145.23K | SH | $3.23M 2.31% | 145.23K | 0.00 | 0.00 |
ARQ INCSOLE | COM | 442.02K | SH | $3.16M 2.27% | 442.02K | 0.00 | 0.00 |
BRIGHTSPIRE CAPITAL INCSOLE | COM CL A | 550K | SH | $2.99M 2.14% | 550K | 0.00 | 0.00 |
NATIONAL CINEMEDIA INCSOLE | COM NEW | 650K | SH | $2.93M 2.10% | 650K | 0.00 | 0.00 |
HUDSON PAC PPTYS INCSOLE | COM | 1M | SH | $2.76M 1.98% | 0.00 | 0.00 | 1M |
UNITED STATES ANTIMONY CORPSOLE | COM | 420K | SH | $2.60M 1.87% | 0.00 | 0.00 | 420K |
KOSMOS ENERGY LTDSOLE | COM | 1.50M | SH | $2.49M 1.79% | 0.00 | 0.00 | 1.50M |
ARCHER AVIATION INCSOLE | COM CL A | 250K | SH | $2.40M 1.72% | 250K | 0.00 | 0.00 |
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