# Gratia Capital, LLC

> 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.

- CRD: 163876
- Filed as: GRATIA CAPITAL, LLC
- Reporting status: Exempt reporting adviser (status as filed: ERA - Active)
- Location: Los Angeles, CA
- Filing period: October 2026
- Form ADV filing dated: September 14, 2026
- Public record (IAPD): https://adviserinfo.sec.gov/firm/summary/163876
- AdvisorCensus page: https://advisorcensus.com/firm/gratia-capital-llc-los-angeles-ca-163876

## Quick answers

**Where is Gratia Capital, LLC located?**
Gratia Capital, LLC's principal office is in Los Angeles, CA, according to its Form ADV.

**How does Gratia Capital, LLC report to regulators?**
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.

**How have Gratia Capital, LLC's assets and staff changed since 2021?**
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.

**Does Gratia Capital, LLC report any disciplinary disclosures?**
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

**Does Gratia Capital, LLC state an account minimum?**
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."

**What changed in Gratia Capital, LLC's recent Form ADV filings?**
In the October 2026 filing data: Moved from SEC registration to exempt reporting adviser status.

## From the Form ADV filing

### Fees and minimums (Form ADV Part 2A brochure dated March 30, 2026)

- Account minimum: $1,000,000 (the brochure says it may be waived or negotiated)

> 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.

As stated in the firm's brochure. Fees can differ by service and may be negotiable.

### Firm details
- Reporting since: 2026 (0 years)
- Employees: Not reported total, Not reported performing advisory functions
- Wrap fee program participation: Not reported
- Disclosures (Item 11): Reports no disclosure items on Form ADV Item 11.

## Assets and staff over time

| Data period | Regulatory assets under management | Employees | Filing dated |
| --- | --- | --- | --- |
| October 2021 | Not reported | Not reported | May 26, 2021 |
| October 2022 | $185,589,000 | 3 | June 30, 2022 |
| October 2023 | $124,596,000 | 3 | March 31, 2023 |
| October 2024 | $133,671,580 | 3 | March 28, 2024 |
| October 2025 | $162,720,109 | 3 | March 28, 2025 |
| October 2026 | Not reported | Not reported | September 14, 2026 |

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.

## Changes in the filing (last 12 months)

### October 2026
- Moved from SEC registration to exempt reporting adviser status.

### April 2026
- Regulatory assets under management went from $162,720,109 to $185,835,116 (+14%).

## Source

Form ADV as filed, October 2026. Values appear as filed. Cite as: AdvisorCensus. Gratia Capital, LLC (CRD 163876): Form ADV filing data as of October 2026.