13F HOLDINGS REPORT
GRATIA CAPITAL, LLC
Quarter ended Q4 2025 · Filed February 17, 2026 · Accession 0001599793-26-000002
Total Value
$134.1M
Positions
60
Other Managers
1
Confidential Omitted
No
Holdings (60)
| # | Issuer | Ticker / CUSIP | Shares | Value | % of Filing |
|---|---|---|---|---|---|
| 1 | TPG RE FIN TR INC | TPGXL | 1,725,571 | $14.9M | 11.08% |
| 2 | HUDSON PAC PPTYS INC | 444097406 | 766,500 | $8.3M | 6.19% |
| 3 | FRANKLIN BSP RLTY TR INC | 35243J101 | 694,668 | $7.0M | 5.19% |
| 4 | CADIZ INC | CDZIP | 1,215,920 | $6.8M | 5.09% |
| 5 | AEHR TEST SYS | AEHR | 308,300 | $6.2M | 4.64% |
| 6 | NAVIOS MARITIME PARTNERS L P | NMM | 103,982 | $5.5M | 4.06% |
| 7 | DAVE INC | 23834J201 | 23,407 | $5.2M | 3.86% |
| 8 | GRANITE PT MTG TR INC | 38741L107 | 1,755,203 | $4.2M | 3.14% |
| 9 | CLAROS MTG TR INC | 18270D106 | 1,301,212 | $4.0M | 2.97% |
| 10 | MASTERCRAFT BOAT HLDGS INC | MCFT | 202,475 | $3.8M | 2.85% |
| 11 | MAGNERA CORP | MAGN | 239,872 | $3.6M | 2.71% |
| 12 | COMSTOCK INC | LODE | 909,034 | $3.4M | 2.55% |
| 13 | SUNRISE RLTY TR INC | 867981102 | 355,220 | $3.3M | 2.50% |
| 14 | BOYD GAMING CORP | BYD | 36,572 | $3.1M | 2.32% |
| 15 | TERAWULF INC | WULF | 253,554 | $2.9M | 2.17% |
| 16 | TPG RE FIN TR INC | TPGXL | 305,797 | $2.6M | 1.96% |
| 17 | BETTER HOME & FINANCE HOLDIN | BETRW | 79,368 | $2.6M | 1.93% |
| 18 | HUDSON PAC PPTYS INC | 444097406 | 233,500 | $2.5M | 1.89% |
| 19 | TSAKOS ENERGY NAVIGATION LTD | TEN-PF | 110,547 | $2.5M | 1.85% |
| 20 | BRIGHTSPIRE CAPITAL INC | BRSP | 441,775 | $2.5M | 1.84% |
| 21 | JAKKS PAC INC | JAKK | 137,094 | $2.3M | 1.73% |
| 22 | AEHR TEST SYS | AEHR | 107,484 | $2.2M | 1.62% |
| 23 | A2Z CUST2MATE SOLUTIONS CORP | AZ | 305,781 | $2.0M | 1.48% |
| 24 | NATIONAL CINEMEDIA INC | NCMI | 496,123 | $1.9M | 1.44% |
| 25 | AEHR TEST SYS | AEHR | 91,700 | $1.9M | 1.38% |
| 26 | FRANKLIN BSP RLTY TR INC | 35243J101 | 168,254 | $1.7M | 1.26% |
| 27 | UNITED STATES ANTIMONY CORP | UAMY | 323,900 | $1.6M | 1.21% |
| 28 | NAVIOS MARITIME PARTNERS L P | NMM | 30,674 | $1.6M | 1.20% |
| 29 | MFA FINL INC | 55272X607 | 172,376 | $1.6M | 1.20% |
| 30 | CADIZ INC | CDZIP | 280,574 | $1.6M | 1.17% |
| 31 | ARCHER AVIATION INC | ACHR-WT | 192,793 | $1.4M | 1.08% |
| 32 | DAVE INC | 23834J201 | 6,218 | $1.4M | 1.03% |
| 33 | CLAROS MTG TR INC | 18270D106 | 398,872 | $1.2M | 0.91% |
| 34 | GRANITE PT MTG TR INC | 38741L107 | 484,106 | $1.2M | 0.87% |
| 35 | MAGNERA CORP | MAGN | 74,755 | $1.1M | 0.84% |
| 36 | MASTERCRAFT BOAT HLDGS INC | MCFT | 58,365 | $1.1M | 0.82% |
| 37 | KOSMOS ENERGY LTD | KOS | 1,137,300 | $1.0M | 0.77% |
| 38 | BEAZER HOMES USA INC | BZH | 46,131 | $935,075 | 0.70% |
| 39 | COMSTOCK INC | LODE | 247,389 | $930,183 | 0.69% |
| 40 | SUNRISE RLTY TR INC | 867981102 | 98,596 | $929,760 | 0.69% |
| 41 | BOYD GAMING CORP | BYD | 9,817 | $836,801 | 0.62% |
| 42 | SYNERGY CHC CORP | SNYR | 428,379 | $796,785 | 0.59% |
| 43 | TSAKOS ENERGY NAVIGATION LTD | TEN-PF | 32,681 | $732,708 | 0.55% |
| 44 | BETTER HOME & FINANCE HOLDIN | BETRW | 22,295 | $726,371 | 0.54% |
| 45 | JAKKS PAC INC | JAKK | 42,426 | $716,151 | 0.53% |
| 46 | DOUBLEDOWN INTERACTIVE CO LT | DDI | 70,686 | $610,020 | 0.45% |
| 47 | AEHR TEST SYS | AEHR | 30,076 | $607,234 | 0.45% |
| 48 | NATIONAL CINEMEDIA INC | NCMI | 153,877 | $598,582 | 0.45% |
| 49 | A2Z CUST2MATE SOLUTIONS CORP | AZ | 89,629 | $583,485 | 0.43% |
| 50 | TERAWULF INC | WULF | 50,484 | $580,061 | 0.43% |
| 51 | MFA FINL INC | 55272X607 | 53,093 | $494,296 | 0.37% |
| 52 | UNITED STATES ANTIMONY CORP | UAMY | 96,100 | $482,422 | 0.36% |
| 53 | ARQ INC | ARQ | 130,668 | $427,284 | 0.32% |
| 54 | BRIGHTSPIRE CAPITAL INC | BRSP | 59,810 | $334,936 | 0.25% |
| 55 | KOSMOS ENERGY LTD | KOS | 362,700 | $330,057 | 0.25% |
| 56 | SYNERGY CHC CORP | SNYR | 126,621 | $235,515 | 0.18% |
| 57 | DOUBLEDOWN INTERACTIVE CO LT | DDI | 20,184 | $174,188 | 0.13% |
| 58 | HELPORT AI LTD | HPAIW | 994,071 | $158,256 | 0.12% |
| 59 | ARQ INC | ARQ | 24,332 | $79,566 | 0.06% |
| 60 | HELPORT AI LTD | HPAIW | 310,291 | $49,398 | 0.04% |