Q2 2026 13F · SEC CIK 1599793

Gratia Capital, LLC

Hedge fundFiled 2026-08-14 for Q2 2026. Open the filing ↗ · All SEC filings ↗

Reported 13F value: $87.0M
Reported positions: 25
Top holdings a year, 3 yrs: +8.3%
Average holding period: 2.0 yrs

Gratia Capital, LLC is a hedge fund that reported 25 positions worth $87.0M in its Q2 2026 13F, filed 2026-08-14. Its largest holdings were Tpg Re Fin Tr Inc (TRTX, 19.9%), Franklin Bsp Rlty Tr Inc (FBRT, 16.5%), Comstock Inc (LODE, 8.9%). A portfolio copying its top holdings returned 8.3% a year over the last 3 years, against 20.4% for the S&P 500.

Gratia Capital, LLC holdings all 25 positions.

Weights are shares of the filer's total reported 13F value, compared with Q1 2026. Share changes may reflect splits; weight changes also reflect price moves. A 13F shows long US-listed positions only, up to 135 days after the fact.

Gratia Capital, LLC 13F holdings
Stock	% of 13F value	Q1 2026	Shares	Share change	Reported value
TRTXTpg Re Fin Tr Inc	19.9%	20.0%	2,067,333	-23.5%	$17.3M
FBRTFranklin Bsp Rlty Tr Inc	16.5%	18.3%	1,769,370	-22.4%	$14.4M
LODEComstock Inc	8.9%	3.2%	1,868,323	+68.9%	$7.8M
MCFTMasterCraft Boat Holdings	4.6%	3.8%	153,917	-21.1%	$4.0M
NMMNavios Maritime Partners LP	4.3%	6.5%	52,967	-48.0%	$3.7M
ADTNAdtran Holdings Inc Com	4.0%	New	250,492	—	$3.5M
SHIMShimmick Corporation	3.8%	New	726,936	—	$3.3M
DUOTDuos Technologies Group Inc	3.7%	3.8%	270,275	-53.4%	$3.2M
CMTGClaros Mtg Tr Inc	3.5%	3.8%	1,301,212	-23.5%	$3.1M
08774B508Better Home & Finance Holdin	3.2%	3.7%	100,458	-9.0%	$2.8M
SUNSSunrise Realty Trust	3.1%	3.2%	339,355	-22.7%	$2.7M
MAGNMagnera Corp	3.0%	2.7%	224,872	-24.9%	$2.6M
GPMTGranite Pt Mtg Tr Inc	3.0%	3.1%	1,739,211	-22.3%	$2.6M
TENTsakos Energy Navigation Ltd	2.7%	3.7%	65,232	-34.8%	$2.3M
UHALBU Haul Holding Company Com Ser N	2.4%	2.0%	36,067	-22.4%	$2.1M
KOSKosmos Energy Ltd	2.3%	1.9%	963,678	+33.9%	$2.0M
TGENTecogen Inc New	2.3%	New	388,660	—	$2.0M
NBNiocorp Devs Ltd	2.3%	New	410,000	—	$2.0M
METCRamaco Resources	2.1%	New	138,000	—	$1.8M
ACHRArcher Aviation Inc	1.0%	0.9%	192,793	+0.0%	$912K
WDWalker & Dunlop Inc Com	1.0%	4.7%	16,619	-85.3%	$909K
HFROHighland Opps & Income Fd	1.0%	New	124,725	—	$889K
ONITOnity Group Inc	1.0%	New	21,000	—	$835K
ACREAres Coml Real Estate Corp	0.3%	New	55,056	—	$248K
G4R52R111Helport Ai Ltd	0.0%	0.1%	994,071	-23.8%	$33K

What Gratia Capital, LLC bought and sold in Q2 2026, against Q1 2026.

Share counts compared with the Q1 2026 13F; a split also changes share counts.

How the holdings did against the S&P 500.

1 year: +4.1% /yr; S&P 500 +20.1%
3 years: +8.3% /yr; S&P 500 +20.4%
5 years: +6.0% /yr; S&P 500 +11.6%

A portfolio of the filer's 20 largest 13F positions, weighted by value and rebuilt each quarter on the day the filing became public. 13Fs show long US-listed positions only, so this is an estimate of the stock picks, not the fund's reported returns.

Reported 13F value by quarter.

13F value by quarter
Quarter	13F value	Positions
Q2 2026	$87.0M	25
Q1 2026	$105.7M	24
Q4 2025	$111.8M	27
Q3 2025	$112.9M	28
Q2 2025	$91.8M	22
Q1 2025	$87.7M	23
Q4 2024	$85.5M	23
Q3 2024	$70.0M	17
Q2 2024	$64.9M	15
Q1 2024	$58.2M	14
Q4 2023	$48.1M	15
Q3 2023	$74.3M	20

Questions about Gratia Capital, LLC's portfolio

What stocks does Gratia Capital, LLC own?

Gratia Capital, LLC's latest 13F, for Q2 2026 and filed Aug 14, 2026, lists 25 positions worth $87.0M. The largest are Tpg Re Fin Tr Inc (TRTX) at 19.9%, Franklin Bsp Rlty Tr Inc (FBRT) at 16.5%, Comstock Inc (LODE) at 8.9%, MasterCraft Boat Holdings (MCFT) at 4.6% and Navios Maritime Partners LP (NMM) at 4.3%.

What did Gratia Capital, LLC buy last quarter?

In Q2 2026, Gratia Capital, LLC added a new position in Adtran Holdings Inc Com (ADTN), a new position in Shimmick Corporation (SHIM), a new position in Tecogen Inc New (TGEN), a new position in Niocorp Devs Ltd (NB), a new position in Ramaco Resources (METC), Comstock Inc (LODE) (+68.9% shares) and Kosmos Energy Ltd (KOS) (+33.9% shares), compared with its Q1 2026 filing.

What did Gratia Capital, LLC sell last quarter?

In Q2 2026, Gratia Capital, LLC sold all of Dave Inc (DAVE), sold all of Anterix Inc (ATEX), sold all of Cadiz Inc (CDZI), sold all of Aehr Test Sys (AEHR), sold all of National Cinemedia Inc (NCMI), Walker & Dunlop Inc Com (WD) (-85.3% shares), Duos Technologies Group Inc (DUOT) (-53.4% shares) and Navios Maritime Partners LP (NMM) (-48.0% shares), compared with its Q1 2026 filing.

How has Gratia Capital, LLC's portfolio performed?

A portfolio copying Gratia Capital, LLC's 20 largest 13F holdings each quarter, from the day each filing was public, returned +8.3% a year over the last 3 years, against +20.4% for the S&P 500. Over 1 year: +4.1% against +20.1%. Over 5 years: +6.0% a year against +11.6%.

When is Gratia Capital, LLC's next 13F filing due?

13F filings are due 45 days after each quarter ends. Gratia Capital, LLC's filing for the quarter ending Sep 30, 2026 is due by Nov 14, 2026; this page updates the day after it is published.