Simulated Performance for GRATIA CAPITAL, LLC
| Reporting Period | Quarterly Simulated Performance | Quarterly Hit Rate | Annual Simulated Performance | Annual Hit Rate | Annual Simulated Performance Decile | Annual Simulated Performance Hedge Funds Decile | Annual Simulated Performance Quant Decile | Annual Simulated Performance Fundamental Decile |
|---|---|---|---|---|---|---|---|---|
| Dec. 31, 2013 | 4.07 % | 0.64 | 12.27 % | 0.61 | 7 | 7 | 7 | |
| March 31, 2014 | 1.14 % | 0.54 | 10.21 % | 0.68 | 6 | 6 | 6 | |
| June 30, 2014 | -1.92 % | 0.37 | 4.95 % | 0.65 | 6 | 5 | 5 | |
| Sept. 30, 2014 | 4.04 % | 0.68 | -4.50 % | 0.43 | 5 | 5 | 5 | |
| Dec. 31, 2014 | 7.41 % | 0.68 | -3.42 % | 0.39 | 5 | 6 | 5 | |
| March 31, 2015 | 3.60 % | 0.51 | -11.09 % | 0.28 | 3 | 4 | 5 | |
| June 30, 2015 | -6.23 % | 0.28 | -4.24 % | 0.45 | 4 | 7 | 7 | |
| Sept. 30, 2015 | 2.26 % | 0.55 | 8.12 % | 0.62 | 2 | 4 | 4 | |
| Dec. 31, 2015 | -7.30 % | 0.32 | 12.64 % | 0.77 | 5 | 6 | 6 | |
| March 31, 2016 | 6.74 % | 0.71 | 26.81 % | 0.79 | 9 | 8 | 8 | |
| June 30, 2016 | 7.98 % | 0.72 | 20.85 % | 0.79 | 7 | 5 | 5 | |
| Sept. 30, 2016 | 8.33 % | 0.66 | 17.63 % | 0.80 | 6 | 5 | 5 | |
| Dec. 31, 2016 | 5.29 % | 0.61 | 13.99 % | 0.59 | 3 | 3 | 3 | |
| March 31, 2017 | -1.01 % | 0.53 | 4.60 % | 0.53 | 2 | 2 | 3 | |
| June 30, 2017 | 1.74 % | 0.50 | 13.40 % | 0.61 | 6 | 5 | 5 | |
| Sept. 30, 2017 | 17.27 % | 0.59 | 6.28 % | 0.62 | 2 | 3 | 3 | |
| Dec. 31, 2017 | -4.89 % | 0.42 | -24.78 % | 0.32 | 1 | 2 | 2 | |
| March 31, 2018 | 4.00 % | 0.75 | -4.18 % | 0.48 | 1 | 2 | 3 | |
| June 30, 2018 | -4.70 % | 0.41 | -3.68 % | 0.48 | 2 | 3 | 4 | |
| Sept. 30, 2018 | -25.46 % | 0.05 | 2.56 % | 0.45 | 6 | 7 | 7 | |
| Dec. 31, 2018 | 13.17 % | 0.86 | 64.19 % | 0.79 | 10 | 10 | 10 | |
| March 31, 2019 | 8.35 % | 0.82 | -23.73 % | 0.29 | 2 | 4 | 4 | |
| June 30, 2019 | 0.17 % | 0.56 | -0.49 % | 0.50 | 4 | 5 | 5 | |
| Sept. 30, 2019 | 12.83 % | 0.75 | 7.43 % | 0.50 | 4 | 4 | 4 | |
| Dec. 31, 2019 | -48.95 % | - | 13.83 % | 0.45 | 4 | 4 | 4 | |
| March 31, 2020 | 49.27 % | 0.92 | 183.20 % | 0.92 | 10 | 10 | 10 | |
| June 30, 2020 | 25.49 % | 0.79 | 141.39 % | 0.86 | 10 | 10 | 10 | |
| Sept. 30, 2020 | 30.45 % | 0.85 | 99.44 % | 1.00 | 10 | 10 | 10 | |
| Dec. 31, 2020 | 38.95 % | 0.92 | 81.51 % | 0.83 | 10 | 10 | 10 | |
| March 31, 2021 | 13.77 % | 0.64 | 11.93 % | 0.63 | 6 | 8 | 8 | |
| June 30, 2021 | -3.68 % | 0.38 | -27.37 % | 0.08 | 2 | 4 | 5 | |
| Sept. 30, 2021 | -7.64 % | 0.37 | -37.41 % | 0.07 | 2 | 3 | 3 | |
| Dec. 31, 2021 | 6.02 % | 0.30 | -27.50 % | 0.25 | 3 | 4 | 4 | |
| March 31, 2022 | -26.46 % | 0.03 | -17.28 % | 0.21 | 2 | 3 | 3 | |
| June 30, 2022 | -11.61 % | 0.29 | 30.76 % | 0.65 | 10 | 9 | 9 | |
| Sept. 30, 2022 | 15.36 % | 0.74 | 39.74 % | 0.83 | 10 | 10 | 10 | |
| Dec. 31, 2022 | 13.97 % | 0.69 | 56.89 % | 0.71 | 10 | 10 | 10 | |
| March 31, 2023 | 16.97 % | 0.58 | 48.26 % | 0.79 | 10 | 9 | 9 | |
| June 30, 2023 | -5.27 % | 0.36 | 16.30 % | 0.44 | 4 | 6 | 6 | |
| Sept. 30, 2023 | 6.70 % | 0.68 | 24.59 % | 0.47 | 2 | 4 | 4 | |
| Dec. 31, 2023 | 14.51 % | 0.64 | 15.23 % | 0.54 | 3 | 5 | 5 | |
| March 31, 2024 | -1.00 % | 0.36 | -7.04 % | 0.23 | 1 | 3 | 3 | |
| June 30, 2024 | 2.18 % | 0.47 | -7.09 % | 0.29 | 1 | 1 | 1 | |
| Sept. 30, 2024 | 0.99 % | 0.31 | 6.31 % | 0.38 | 2 | 3 | 3 | |
| Dec. 31, 2024 | -6.09 % | 0.23 | 8.04 % | 0.62 | 2 | 3 | 4 | |
| March 31, 2025 | -3.87 % | 0.43 | - | - | ||||
| June 30, 2025 | 18.66 % | 0.81 | - | - | ||||
| Sept. 30, 2025 | -2.09 % | 0.48 | - | - | ||||
| Dec. 31, 2025 | - | - | - | - |