2026 Q1 Portfolio Activity
In 2026 Q1, GRATIA CAPITAL, LLC maintained a portfolio of 44 distinct positions. The most significant new addition was ISHARES TR, now representing 21.83% of the total fund value. They heavily accumulated shares in AEHR TEST SYS, increasing the position by 406.7%. The fund also reduced its exposure to TPG RE FIN TR INC by 21.2%.
Position History
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Total Positions
44
Quarter
2026 Q1
Top Holding
IWM (21.8%)
Top 10 Concentration
71.7%
Turnover Rate
23.4%
Sector HHI
0.18
Items per page:
Showing 1-44 of 44
GRATIA CAPITAL, LLC Full Holdings List — 2026 Q1
| Stock | History | Sector / Type | Port % | Prev % | Rank / Prev | Conviction | Change | % Change | Influence | Shares | Mkt Value | Avg Cost | Price Held | 1st Owned | Source | Source Date | Date Reported |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
|
IWM
PUT
ISHARES TR
|
PUT Option | 21.83% | — |
#1
Prev: #—
|
9.5 | 200,000 | — |
NEW
|
200,000 | $49,600,000 |
$146.70
+71.3%
|
2015 Q3 | 13F Filing | 2026-03-31 | 2026-05-15 | ||
|
AEHR
CALL
AEHR TEST SYS
|
CALL Option | 11.38% | 6.02% |
#2
3
Prev: #5
|
8.5 | 297,000 | 74.2% |
P
S
|
697,000 | $25,844,760 |
$31.19
+42.1%
|
2025 Q3 | 13F Filing | 2026-03-31 | 2026-05-15 | ||
|
TRTX
TPG RE FIN TR I...
|
Real Estate | 9.29% | 13.04% |
#3
2
Prev: #1
|
7.2 | 670,381 | 33.0% |
P
S
|
2,701,749 | $21,100,660 |
$105.72
-1.9%
|
2020 Q4 | 13F Filing | 2026-03-31 | 2026-05-15 | ||
|
FBRT
FRANKLIN BSP RL...
|
Real Estate | 8.52% | 6.45% |
#4
1
Prev: #3
|
6.9 | 1,415,778 | 164.1% |
P
S
|
2,278,700 | $19,346,163 | 2022 Q1 | 13F Filing | 2026-03-31 | 2026-05-15 | |||
|
TRTX
CALL
TPG RE FIN TR I...
|
CALL Option | 5.50% | — |
#5
Prev: #—
|
6.2 | 1,600,000 | — |
NEW
|
1,600,000 | $12,496,000 | 2020 Q4 | 13F Filing | 2026-03-31 | 2026-05-15 | |||
|
ATEX
CALL
ANTERIX INC
|
CALL Option | 3.36% | — |
#6
Prev: #—
|
4.8 | 200,000 | — |
NEW
|
200,000 | $7,638,000 | 2026 Q1 | 13F Filing | 2026-03-31 | 2026-05-15 | |||
|
WY
CALL
WEYERHAEUSER CO
|
CALL Option | 3.23% | — |
#7
Prev: #—
|
4.8 | 300,000 | — |
NEW
|
300,000 | $7,329,000 | 2026 Q1 | 13F Filing | 2026-03-31 | 2026-05-15 | |||
|
NMM
NAVIOS MARITIME...
|
Industrials | 3.03% | 5.26% |
#8
2
Prev: #6
|
1.2 | -32,800 | -24.4% |
P
S
|
101,856 | $6,873,243 | 2021 Q2 | 13F Filing | 2026-03-31 | 2026-05-15 | |||
|
WD
CALL
WALKER & DUNLOP...
|
CALL Option | 2.93% | — |
#9
Prev: #—
|
4.7 | 150,000 | — |
NEW
|
150,000 | $6,657,000 | 2026 Q1 | 13F Filing | 2026-03-31 | 2026-05-15 | |||
|
DAVE
DAVE INC
|
Technology | 2.62% | 4.89% |
#10
3
Prev: #7
|
3.0 | 4,600 | 15.5% |
P
S
|
34,225 | $5,958,230 | 2025 Q4 | 13F Filing | 2026-03-31 | 2026-05-15 | |||
|
HPP
CALL
HUDSON PACIFIC ...
|
CALL Option | 2.60% | 8.07% |
#11
9
Prev: #2
|
2.0 | no change | no change |
P
S
|
1,000,000 | $5,910,000 | 2014 Q1 | 13F Filing | 2026-03-31 | 2026-05-15 | |||
|
WD
WALKER & DUNLOP...
|
Financial Services | 2.21% | — |
#12
Prev: #—
|
4.4 | 113,000 | — |
NEW
|
113,000 | $5,014,940 | 2026 Q1 | 13F Filing | 2026-03-31 | 2026-05-15 | |||
|
KOS
CALL
KOSMOS ENERGY L...
|
CALL Option | 1.84% | 1.02% |
#13
13
Prev: #26
|
1.7 | no change | no change |
P
S
|
1,500,000 | $4,170,000 | 2025 Q2 | 13F Filing | 2026-03-31 | 2026-05-15 | |||
|
CMTG
CLAROS MTG TR I...
|
Real Estate | 1.78% | 3.88% |
#14
5
Prev: #9
|
1.7 | no change | no change |
P
S
|
1,700,084 | $4,046,200 | 2025 Q1 | 13F Filing | 2026-03-31 | 2026-05-15 | |||
|
MCFT
MASTERCRAFT BOA...
|
Consumer Cyclical | 1.76% | 3.68% |
#15
5
Prev: #10
|
0.7 | -65,800 | -25.2% |
P
S
|
195,040 | $4,000,270 | 2025 Q2 | 13F Filing | 2026-03-31 | 2026-05-15 | |||
|
DUOT
DUOS TECHNOLOGI...
|
Technology | 1.75% | — |
#16
Prev: #—
|
4.2 | 580,000 | — |
NEW
|
580,000 | $3,978,800 | 2025 Q3 | 13F Filing | 2026-03-31 | 2026-05-15 | |||
|
TEN
TSAKOS ENERGY N...
|
Energy | 1.74% | 2.39% |
#17
Prev: #17
|
0.7 | -43,200 | -30.2% |
P
S
|
100,028 | $3,947,105 | 2024 Q1 | 13F Filing | 2026-03-31 | 2026-05-15 | |||
|
BETR
BETTER HOME & F...
|
Financial Services | 1.73% | 2.47% |
#18
2
Prev: #16
|
2.7 | 8,690 | 8.5% |
P
S
|
110,353 | $3,930,774 | 2025 Q2 | 13F Filing | 2026-03-31 | 2026-05-15 | |||
|
LODE
COMSTOCK INC
|
Basic Materials | 1.49% | 3.24% |
#19
7
Prev: #12
|
1.1 | -50,002 | -4.3% |
P
S
|
1,106,421 | $3,374,584 | 2025 Q3 | 13F Filing | 2026-03-31 | 2026-05-15 | |||
|
SUNS
SUNRISE RLTY TR...
|
Real Estate | 1.48% | 3.19% |
#20
7
Prev: #13
|
1.1 | -15,000 | -3.3% |
P
S
|
438,816 | $3,365,719 | 2025 Q1 | 13F Filing | 2026-03-31 | 2026-05-15 | |||
|
ATEX
ANTERIX INC
|
Communication Services | 1.47% | — |
#21
Prev: #—
|
4.1 | 87,500 | — |
NEW
|
87,500 | $3,341,625 | 2026 Q1 | 13F Filing | 2026-03-31 | 2026-05-15 | |||
|
GPMT
GRANITE PT MTG ...
|
Real Estate | 1.43% | 4.01% |
#22
14
Prev: #8
|
1.6 | no change | no change |
P
S
|
2,239,309 | $3,246,998 | 2020 Q4 | 13F Filing | 2026-03-31 | 2026-05-15 | |||
|
MAGN
MAGNERA CORP
|
Consumer Defensive | 1.25% | 3.55% |
#23
12
Prev: #11
|
1.0 | -15,000 | -4.8% |
P
S
|
299,627 | $2,849,453 | 2024 Q4 | 13F Filing | 2026-03-31 | 2026-05-15 | |||
|
CDZI
CADIZ INC
|
Utilities | 1.09% | 6.26% |
#24
20
Prev: #4
|
0.4 | -990,538 | -66.2% |
P
S
|
505,956 | $2,484,244 | 2013 Q4 | 13F Filing | 2026-03-31 | 2026-05-15 | |||
|
UHAL/B
U HAUL HOLDING ...
|
Industrials | 0.91% | — |
#25
Prev: #—
|
3.9 | 46,500 | — |
NEW
|
46,500 | $2,077,155 | 2026 Q1 | 13F Filing | 2026-03-31 | 2026-05-15 | |||
|
KOS
KOSMOS ENERGY L...
|
Energy | 0.88% | — |
#26
Prev: #—
|
3.9 | 719,800 | — |
NEW
|
719,800 | $2,001,044 | 2025 Q2 | 13F Filing | 2026-03-31 | 2026-05-15 | |||
|
AEHR
AEHR TEST SYS
|
Technology | 0.84% | 2.07% |
#27
7
Prev: #20
|
0.3 | -86,000 | -62.5% |
P
S
|
51,560 | $1,911,845 | 2025 Q3 | 13F Filing | 2026-03-31 | 2026-05-15 | |||
|
DHT
CALL
DHT HOLDINGS IN...
|
CALL Option | 0.80% | — |
#28
Prev: #—
|
3.8 | 100,000 | — |
NEW
|
100,000 | $1,827,000 | 2026 Q1 | 13F Filing | 2026-03-31 | 2026-05-15 | |||
|
ACHR
ARCHER AVIATION...
|
Industrials | 0.44% | 1.08% |
#29
4
Prev: #25
|
1.2 | no change | no change |
P
S
|
192,793 | $996,740 | 2022 Q1 | 13F Filing | 2026-03-31 | 2026-05-15 | |||
|
NCMI
NATIONAL CINEME...
|
Communication Services | 0.43% | 1.88% |
#30
8
Prev: #22
|
0.2 | -332,000 | -51.1% |
P
S
|
318,000 | $969,900 | 2013 Q4 | 13F Filing | 2026-03-31 | 2026-05-15 | |||
|
SNYR
SYNERGY CHC COR...
|
Healthcare | 0.31% | 0.77% |
#31
4
Prev: #27
|
0.6 | -5,000 | -0.9% |
P
S
|
550,000 | $709,500 | 2024 Q4 | 13F Filing | 2026-03-31 | 2026-05-15 | |||
|
HPAIW
HELPORT AI LTD
|
Unknown | 0.06% | 0.15% |
#32
1
Prev: #31
|
1.0 | no change | no change |
P
S
|
1,304,362 | $143,480 | 2024 Q3 | 13F Filing | 2026-03-31 | 2026-05-15 | |||
|
CDZI
CALL
CADIZ INC
|
CALL Option | 0.01% | — |
#33
Prev: #—
|
3.5 | 5,000 | — |
NEW
|
5,000 | $24,550 | 2013 Q4 | 13F Filing | 2026-03-31 | 2026-05-15 | |||
|
UAMY
UNITED STATES A...
|
Basic Materials | 0.00% | — |
#34
Prev: #—
|
3.5 | 900 | — |
NEW
|
900 | $7,857 | 2025 Q3 | 13F Filing | 2026-03-31 | 2026-05-15 | |||
|
ARQ
ARQ INC
|
Industrials | 0.00% | 0.38% |
Sold All 😨
(Was: #30) |
0.0 | -155,000 | -100.0% |
CLOSED
|
— | $— | 2024 Q3 | 13F Filing | 2026-03-31 | 2026-05-15 | |||
|
DDI
DOUBLEDOWN INTE...
|
Communication Services | 0.00% | 0.58% |
Sold All 😨
(Was: #29) |
0.0 | -90,870 | -100.0% |
CLOSED
|
— | $— | 2021 Q3 | 13F Filing | 2026-03-31 | 2026-05-15 | |||
|
BZH
BEAZER HOMES US...
|
Consumer Cyclical | 0.00% | 0.70% |
Sold All 😨
(Was: #28) |
0.0 | -46,131 | -100.0% |
CLOSED
|
— | $— | 2023 Q1 | 13F Filing | 2026-03-31 | 2026-05-15 | |||
|
MFA
MFA FINL INC
|
Real Estate | 0.00% | 1.56% |
Sold All 😨
(Was: #24) |
0.0 | -225,469 | -100.0% |
CLOSED
|
— | $— | 2020 Q3 | 13F Filing | 2026-03-31 | 2026-05-15 | |||
|
UAMY
CALL
UNITED STATES A...
|
CALL Option | 0.00% | 1.57% |
Sold All 😨
(Was: #23) |
0.0 | -420,000 | -100.0% |
CLOSED
|
— | $— | 2025 Q3 | 13F Filing | 2026-03-31 | 2026-05-15 | |||
|
AZ
A2Z CUST2MATE S...
|
Technology | 0.00% | 1.92% |
Sold All 😨
(Was: #21) |
0.0 | -395,410 | -100.0% |
CLOSED
|
— | $— | 2025 Q3 | 13F Filing | 2026-03-31 | 2026-05-15 | |||
|
BRSP
BRIGHTSPIRE CAP...
|
Real Estate | 0.00% | 2.09% |
Sold All 😨
(Was: #19) |
0.0 | -501,585 | -100.0% |
CLOSED
|
— | $— | 2024 Q4 | 13F Filing | 2026-03-31 | 2026-05-15 | |||
|
JAKK
JAKKS PAC INC
|
Consumer Cyclical | 0.00% | 2.26% |
Sold All 😨
(Was: #18) |
0.0 | -179,520 | -100.0% |
CLOSED
|
— | $— | 2014 Q4 | 13F Filing | 2026-03-31 | 2026-05-15 | |||
|
WULF
TERAWULF INC
|
Financial Services | 0.00% | 2.60% |
Sold All 😨
(Was: #15) |
0.0 | -304,038 | -100.0% |
CLOSED
|
— | $— | 2025 Q4 | 13F Filing | 2026-03-31 | 2026-05-15 | |||
|
BYD
BOYD GAMING COR...
|
Consumer Cyclical | 0.00% | 2.95% |
Sold All 😨
(Was: #14) |
0.0 | -46,389 | -100.0% |
CLOSED
|
— | $— | 2016 Q3 | 13F Filing | 2026-03-31 | 2026-05-15 |
Showing 1-44 of 44 holdings