{ "crd_number": 163876, "slug": "gratia-capital-llc-los-angeles-ca-163876", "primary_business_name": "GRATIA CAPITAL, LLC", "legal_name": "GRATIA CAPITAL, LLC", "dbas": [], "city": "Los Angeles", "state": "CA", "country": "United States", "cbsa_code": "31080", "metro": { "cbsa_code": "31080", "common_name": "Los Angeles", "msa_name": "Los Angeles-Long Beach-Anaheim, CA", "path": "/advisors/ca/los-angeles" }, "registration_type": "exempt", "registration_status": "ERA - Active", "registration_date": "2026-09-14", "years_registered": 0, "period": "2026-10-01", "filing_date": "2026-09-14", "carried_forward": false, "raum_total": null, "raum_discretionary": null, "raum_non_discretionary": null, "raum_band": "not_reported", "raum_band_label": "Not reported", "total_employees": null, "advisory_employees": null, "client_count_bucket": null, "clients_by_type": null, "compensation_types": [], "advisory_activities": [], "wrap_fee_participant": null, "disclosure_yes_count": 0, "states_registered": [], "websites": [], "iapd_url": "https://adviserinfo.sec.gov/firm/summary/163876", "city_as_filed": "LOS ANGELES", "url": "https://advisorcensus.com/firm/gratia-capital-llc-los-angeles-ca-163876", "display_name": "Gratia Capital, LLC", "summary": "Gratia Capital, LLC is an exempt reporting adviser in Los Angeles, CA, filing reports since 2026. Exempt reporting advisers do not report regulatory assets under management on Form ADV.", "citation": "AdvisorCensus. Gratia Capital, LLC (CRD 163876): Form ADV filing data as of October 2026.", "registration_type_label": "Exempt reporting adviser", "compensation_labels": [], "advisory_activity_labels": [], "quick_answers": [ { "q": "Where is Gratia Capital, LLC located?", "a": "Gratia Capital, LLC's principal office is in Los Angeles, CA, according to its Form ADV." }, { "q": "How does Gratia Capital, LLC report to regulators?", "a": "Gratia Capital, LLC is an exempt reporting adviser, filing reports since 2026. Exempt reporting advisers file a shorter Form ADV. Status as filed: ERA - Active. CRD 163876." }, { "q": "How have Gratia Capital, LLC's assets and staff changed since 2021?", "a": "In the Form ADV data for Gratia Capital, LLC: Regulatory assets under management: $185,589,000 in the October 2022 data and $162,720,109 in the October 2025 data, down 12%. Total employees: 3 in October 2022 and 3 in October 2025. Assets under management move with markets as well as with clients coming and going." }, { "q": "Does Gratia Capital, LLC report any disciplinary disclosures?", "a": "Reports no disclosure items on Form ADV Item 11. The detail of any item is on the firm's public record on IAPD: https://adviserinfo.sec.gov/firm/summary/163876" }, { "q": "Does Gratia Capital, LLC state an account minimum?", "a": "Its Form ADV Part 2A brochure dated March 30, 2026 says: \"Gratia Capital’s minimum subscription in its private Fund is: • $1,000,000 for Gratia Capital Concentrated Master Fund Ltd. Gratia Capital may waive this minimum in its sole discretion.\"" }, { "q": "What changed in Gratia Capital, LLC's recent Form ADV filings?", "a": "In the October 2026 filing data: Moved from SEC registration to exempt reporting adviser status." } ], "filing_history": [ { "period": "2021-10-01", "regulatory_assets_under_management": null, "total_employees": null, "filing_date": "2021-05-26" }, { "period": "2022-10-01", "regulatory_assets_under_management": 185589000.0, "total_employees": 3, "filing_date": "2022-06-30" }, { "period": "2023-10-01", "regulatory_assets_under_management": 124596000.0, "total_employees": 3, "filing_date": "2023-03-31" }, { "period": "2024-10-01", "regulatory_assets_under_management": 133671580.0, "total_employees": 3, "filing_date": "2024-03-28" }, { "period": "2025-10-01", "regulatory_assets_under_management": 162720109.0, "total_employees": 3, "filing_date": "2025-03-28" }, { "period": "2026-10-01", "regulatory_assets_under_management": null, "total_employees": null, "filing_date": "2026-09-14" } ], "recent_changes": [ { "period": "2026-10-01", "period_label": "October 2026", "notes": [ "Moved from SEC registration to exempt reporting adviser status." ] }, { "period": "2026-04-01", "period_label": "April 2026", "notes": [ "Regulatory assets under management went from $162,720,109 to $185,835,116 (+14%)." ] } ], "fees_from_brochure": { "source": "Form ADV Part 2A brochure dated March 30, 2026", "provided_by_the_firm": false, "tiers": [], "flat_rate": null, "stated_range": null, "stated_maximum": null, "account_minimum": "$1,000,000", "account_minimum_may_be_waived": true, "minimum_annual_fee": null, "planning_fees": [], "figures": [ { "label": "Account minimum", "statements": [ "Account minimum: $1,000,000 (the brochure says it may be waived or negotiated)" ], "quotes": [ "Gratia Capital’s minimum subscription in its private Fund is: • $1,000,000 for Gratia Capital Concentrated Master Fund Ltd. Gratia Capital may waive this minimum in its sole discretion." ] } ], "values": { "tiers": [], "range_pct": null, "max_pct": null, "account_minimum": 1000000.0, "minimum_annual_fee": null, "planning": [] }, "quotes": [ "Gratia Capital’s minimum subscription in its private Fund is: • $1,000,000 for Gratia Capital Concentrated Master Fund Ltd. Gratia Capital may waive this minimum in its sole discretion." ], "note": "As stated in the firm's brochure; fees can differ by service and may be negotiable." }, "custodians": [], "custodians_note": null, "markdown_url": "https://advisorcensus.com/firm/gratia-capital-llc-los-angeles-ca-163876.md", "clients": [], "disclosure_line": "Reports no disclosure items on Form ADV Item 11.", "disclosure_items": [], "indexable": false, "suppressed": false, "claimed": false, "enhanced": false, "provided_by_the_firm": null, "source": { "name": "Form ADV", "as_of": "2026-10-01", "iapd_url": "https://adviserinfo.sec.gov/firm/summary/163876", "operator": "BH Monitor Services, LLC", "license": "https://creativecommons.org/licenses/by/4.0/", "credit": "AdvisorCensus (advisorcensus.com), from SEC Form ADV data" } }