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Gratia Capital, LLC
Gratia Capital, LLC is a multi-strategy asset management firm headquartered in Los Angeles, California. Founded in April 2012, the firm manages investment portfolios and provides advisory services primarily to pooled investment vehicles and institutional clients. Gratia Capital is registered as an investment adviser with the SEC and operates with a relatively small team, focusing on serving sophisticated investors and select institutional partners.
Investment Strategy
Gratia Capital employs a multi-strategy investment approach, constructing diversified portfolios that may include long/short equity and credit positions. The firm seeks to generate risk-adjusted returns by leveraging fundamental research and opportunistically investing across sectors and asset classes, adapting to evolving market opportunities while maintaining rigorous risk management.
Latest 13F Filing Activity
Gratia Capital, LLC filed their most recent 13F report on Jun 30, 2025 disclosing 19 equity positions and 4 options positions with a total 13F market value of $103M. The fund increased holdings in Mastercraft Boat HLDGS Inc., Xponential Fitness Inc., TPG Re Fin TR Inc. among other positions. Gratia Capital, LLC reduced exposure to Abacus Global MGMT Inc., Landsea Homes Corp., Hudson Pac PPTYS Inc. among others.
Top Holdings
Equity Positions (19)
| Ticker | Security | Weight | Market Value | Shares | Avg Cost | Price | Change (QoQ) |
|---|---|---|---|---|---|---|---|
T TRTX | TPG RE FIN TR INC | 20.06% | $20.6M | 2,664,589 | $7.87 | $7.72 | +$3.5M |
F FBRT | FRANKLIN BSP RLTY TR INC | 8.53% | $8.7M | 817,837 | $12.17 | $10.69 | +$1.4M |
X XPOF | XPONENTIAL FITNESS INC | 5.64% | $5.8M | 771,417 | $9.28 | $7.49 | +$3.6M |
N NMM | NAVIOS MARITIME PARTNERS L P | 4.94% | $5.1M | 134,356 | $30.90 | $37.68 | -$1.1M |
S SUNS | SUNRISE RLTY TR INC | 4.62% | $4.7M | 446,720 | $10.99 | $10.60 | +$611.4K |
Options Positions (4)
| Ticker | Security | Action | Type | Notional Value | Contracts | Underlying Price | Premium Paid | Change (Contracts) | Change (Value) |
|---|---|---|---|---|---|---|---|---|---|
T TRTX | TPG RE FIN TR INC | Bought | Call | $3.9M | 5,000 | $7.72 | $7.72 | +5,000 | +$3.9M |
H HPP | HUDSON PAC PPTYS INC | — | Call | $2.7M | 10,000 | $2.74 | $2.95 | 0 | -$210.0K |
K KOS | KOSMOS ENERGY LTD | New | Call | $2.6M | 15,000 | $1.72 | $1.72 | +15,000 | +$2.6M |
X XPOF | XPONENTIAL FITNESS INC | Sold | Call | $1.5M | 2,000 | $7.49 | $13.39 | -6,000 | -$5.2M |
Industry Allocation
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