9AT: GRATIA CAPITAL, LLC

other names

GRATIA CAPITAL, LLC

Adviser Profile

As of Date	03/28/2025
ADV Location	LOS ANGELES, CA, United States
Adviser Type - Large advisory firm
Number of Employees	3
of those in investment advisory functions	3
Registration	SEC, Approved, 08/03/2022
Other registrations (2)	SEC, ERA - Withdrawn, 06/30/2022 California, ERA - Withdrawn, 06/05/2013
Former registrations	GRATIA CAPITAL, LLC GRATIA CAPITAL, LLC

AUM^*	162,720,109 31%
of that, discretionary	162,720,109 31%
Private Fund GAV^*	115,164,486 -19%
Avg Account Size	40,680,027 31%
SMA’s	No
Private Funds	3
Contact Info	310 xxxxxxx

Client Types

- Pooled investment vehicles

Advisory Activities

- Portfolio management for pooled investment vehicles

Compensation Arrangments

- A percentage of assets under your management
- Performance-based fees

Fund Type	Count	GAV
Fund TypeHedge Fund	Count3	GAV$115,164,486

Adviser	Hedge Fund	Liquidity Fund	Private Equity Fund	Real Estate Fund	Securitized Asset Fund	Venture Capital Fund	Other Fund	Total Private Fund GAV	AUM	#Funds
Adviser MCM WEALTH	Hedge Fund41.5m	Liquidity Fund-	Private Equity Fund-	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund-	Total Private Fund GAV41.5m	AUM151.2m	#Funds1
Adviser LIPPER ADVISORY SERVICES INC	Hedge Fund52.3m	Liquidity Fund-	Private Equity Fund-	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund-	Total Private Fund GAV52.3m	AUM143.0m	#Funds1
Adviser 22V ASSET MANAGEMENT	Hedge Fund357.3m	Liquidity Fund-	Private Equity Fund-	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund-	Total Private Fund GAV357.3m	AUM357.3m	#Funds3
Adviser OBERON ASSET MANAGEMENT, LLC	Hedge Fund14.0m	Liquidity Fund-	Private Equity Fund-	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund-	Total Private Fund GAV14.0m	AUM174.7m	#Funds1
Adviser VAZIRANI ASSET MANAGEMENT LLC	Hedge Fund47.8m	Liquidity Fund-	Private Equity Fund-	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund-	Total Private Fund GAV47.8m	AUM63.7m	#Funds2
Adviser TWENTY ACRE CAPITAL LP	Hedge Fund61.8m	Liquidity Fund-	Private Equity Fund-	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund-	Total Private Fund GAV61.8m	AUM198.5m	#Funds3
Adviser COAST CAPITAL MANAGEMENT, LP	Hedge Fund72.3m	Liquidity Fund-	Private Equity Fund-	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund-	Total Private Fund GAV72.3m	AUM124.4m	#Funds6
Adviser ADDITIVE ADVISORY PBC	Hedge Fund-	Liquidity Fund-	Private Equity Fund19.5m	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund-	Total Private Fund GAV19.5m	AUM106.8m	#Funds1
Adviser NORBURY PARTNERS LP	Hedge Fund-	Liquidity Fund-	Private Equity Fund-	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund-	Total Private Fund GAV-	AUM73.8m	#Funds-
Adviser HOT CREEK CAPITAL, L.L.C.	Hedge Fund135.0m	Liquidity Fund-	Private Equity Fund-	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund-	Total Private Fund GAV135.0m	AUM135.0m	#Funds1

Stock Ticker	Stock Name	$ Position	% Position	$ Change	# Change
Stck Ticker87266M107	Stock NameTPG RE FIN TR INC	$ Position$17,225,636	% Position17.00%	$ Change26.00%	# Change33.00%
Stck Ticker35243J101	Stock NameFRANKLIN BSP RLTY TR INC	$ Position$6,646,476	% Position6.00%	$ Change19.00%	# Change41.00%
Stck Ticker87266M107	Stock NameTPG RE FIN TR INC (CALL)	$ Position$3,860,000	% Position4.00%	$ Change	# Change
Stck Ticker98422X101	Stock NameXPONENTIAL FITNESS INC	$ Position$4,366,617	% Position4.00%	$ Change162.00%	# Change191.00%
Stck TickerY62267409	Stock NameNAVIOS MARITIME PARTNERS L P	$ Position$3,843,548	% Position4.00%	$ Change-18.00%	# Change-15.00%
Stck Ticker867981102	Stock NameSUNRISE RLTY TR INC	$ Position$3,625,370	% Position4.00%	$ Change14.00%	# Change19.00%
Stck Ticker57637H103	Stock NameMASTERCRAFT BOAT HLDGS INC	$ Position$3,261,477	% Position3.00%	$ Change	# Change
Stck Ticker87266M107	Stock NameTPG RE FIN TR INC	$ Position$3,344,991	% Position3.00%	$ Change-1.00%	# Change5.00%
Stck Ticker18270D106	Stock NameCLAROS MTG TR INC	$ Position$2,882,211	% Position3.00%	$ Change-24.00%	# Change0.00%
Stck Ticker55939A107	Stock NameMAGNERA CORP	$ Position$2,897,654	% Position3.00%	$ Change-29.00%	# Change7.00%

Brochure Summary

Overview

The Advisory Firm and its Principal Owners Gratia Capital, LLC is a Delaware limited liability company founded in April 2012. Gratia Capital is a multi-strategy, value and event-oriented asset management firm based in Los Angeles, California. Gratia Capital’s primary office is located at 11835 W Olympic Blvd, Suite 385, Los Angeles, CA 90064. Advisory Services Gratia Capital currently provides investment management services and discretionary investment advice to a private Fund (“The Fund”) and a sub-advisory account Client (“Sub-Advisory”) and may serve as investment adviser and/or sub-adviser to various other advisory clients, including separately managed accounts, fund of one account, and other private investment Fund (collectively, “Clients”). Advisory Services to Sub-Advisory Accounts Investments for Sub-Advisory account Clients, whether pooled investment vehicles, separately managed accounts, or fund of one accounts, are managed in accordance with the Clients’ investment objectives, strategies, restrictions and guidelines as set forth in the documents governing Gratia Capital’s relationship with such Clients or as otherwise communicated to Gratia Capital by the Clients. Depending

on the nature of the relationship, these services may include the investment and reinvestment of securities, cash and cash equivalents, futures and options held in a Client’s account. If a Client wishes to impose certain restrictions on investing in certain securities or types of securities or is prohibited by applicable law from investing in such securities or types of securities, Gratia Capital will address those requests on a case-by-case basis. Types of Services The investments of the Fund are managed in accordance with the investment objectives, strategies and guidelines applicable to the Fund and are not tailored to any particular Investor in the Fund (an “Investor”). Gratia Capital does not provide individualized investment advice to such Investors with respect to their investment in the Fund; therefore, Investors should consider whether the Fund meets their investment objectives, risk tolerance and financial situation. Wrap Fee Programs Gratia Capital does not participate in wrap fee programs. Regulatory Assets Under Management As of March 31, 2024, Gratia Capital manages approximately $133.6 million on a discretionary basis and $0 on a non-discretionary basis.

GRATIA CAPITAL, LLC

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