Orchard Capital Management, LLC

Diversified strategyMomentum followerQuality / disciplined sizing

Total reported value

$95.9M

Reporting period: 2026-03-31 · Number of holdings: 46

Orchard Capital Management, LLC disclosed 46 holdings in its latest 13F filing for the period ending 2026-03-31, with total reported value of $95.9M and a quarterly turnover rate of 42.8%.

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Personality snowflake

Concentration: 26.02
Portfolio Stability: 42.8
Momentum/Contrarian: 100
Sector conviction: 77.82
Diversification: 92
Sizing Uniformity: 85.73

Recent moves

Trim SPY
-50.0%　-$21.4M
Add TDW
0.0%　$1.6M
Trim HBM
-53.8%　-$2.9M
Add UAMY
0.0%　$1.1M
Add TGB
+1136.3%　$1.3M
Add RIOT
+88.5%　$1.1M

Holdings Map

New buyAddUnchangedTrim

Top 10 holdings by weight

Full holdings list this quarter

#	Ticker	Issuer	Asset Subclass	Weight	Weight Change	Shares Change
1	SPY	Ss Spdr S&p 500 ETF Trust-us	ETF-Large Cap & Growth	20.35%	-15.16%	-50.00%
2	TBBK	Bancorp Inc/the	Stock-Other	6.77%	+0.55%	+13.93%
3	FIP	Ftai Infrastructure INC	Stock-Other	4.20%	+0.94%	—
4	TDW	Tidewater INC	Stock-Energy	4.20%	+2.09%	—
5	ACA	Arcosa INC	Stock-Industrials	3.78%	+0.63%	—
6	DCO	Ducommun INC	Stock-Other	3.68%	+1.29%	—
7	BANC	Banc Of California INC	Stock-Other	3.26%	+0.28%	—
8	NOA	North American Construction	Stock-Other	3.15%	+1.22%	+44.37%
9	ENVA	Enova International INC	Stock-Financials	3.05%	+0.11%	—
10	✓	Ferroglobe PLC	Stock-Other	2.93%	+0.18%	—
11	GTX	Garrett Motion INC	Stock-Consumer Disc	2.90%	+0.59%	—
12	HBM	Hudbay Minerals INC	Stock-Other	2.87%	-2.05%	-53.84%
13	ARCB	Arcbest CORP	Stock-Other	2.83%	+1.06%	—
14	UAMY	United States Antimony CORP	Stock-Other	2.77%	+1.44%	—
15	TRN	Trinity Industries INC	Stock-Other	2.59%	+0.82%	—
16	GLRE	Greenlight Capital Re, Ltd.	Stock-Other	2.50%	+0.74%	—
17	RIOT	Riot Platforms INC	Stock-Financials	2.42%	+1.32%	+88.50%
18	MTUS	Metallus INC	Stock-Other	2.30%	+0.93%	+46.57%
19	TFIN	Triumph Financial INC	Stock-Other	2.17%	+0.28%	—
20	AX	Axos Financial INC	Stock-Financials	1.97%	-1.00%	-44.02%
21	CASH	Pathward Financial INC	Stock-Other	1.94%	+0.65%	—
22	CENT	Central Garden & Pet Co	Stock-Other	1.70%	+0.46%	—
23	MYE	Myers Industries INC	Stock-Other	1.65%	+1.65%	NEW
24	NODK	Ni Holdings INC	Stock-Other	1.61%	+0.23%	—
25	✓		Stock-Other	1.56%	-0.14%	—
26	TGB	Taseko Mines LTD	Stock-Other	1.50%	+1.41%	+1136.28%
27	FBRT	Franklin Bsp Realty Trust In	Stock-Other	1.43%	+0.02%	—
28	RVLV	Revolve Group INC	Stock-Other	1.26%	-1.20%	-43.18%
29	NTLA	Intellia Therapeutics INC	Stock-Other	1.10%	+0.46%	—
30	AESI	Atlas Energy Solutions INC	Stock-Other	1.02%	+0.41%	—
31	HRTX	Heron Therapeutics INC	Stock-Other	0.57%	-0.20%	—
32	AZZ	Azz INC	Stock-Industrials	0.51%	+0.15%	—
33	CENTA	Central Garden And Pet Co-a	Stock-Other	0.38%	+0.10%	—
34	TLN	Talen Energy CORP	Stock-Utilities	0.35%	-0.17%	-34.00%
35	SEI	Solaris Energy Infrastructur	Stock-Energy	0.34%	+0.11%	—
36	IDR	Idaho Strategic Resources In	Stock-Other	0.33%	-0.02%	—
37	FELE	Franklin Electric Co INC	Stock-Industrials	0.33%	+0.05%	—
38	CASY	Casey's General Stores INC	Stock-Consumer Disc	0.30%	+0.11%	—
39	CF	Cf Industries Holdings INC	Stock-Materials	0.28%	+0.28%	NEW
40	WAB	Wabtec CORP	Stock-Industrials	0.24%	+0.24%	NEW
41	DBRG	Digitalbridge Group INC	Stock-Financials	0.22%	+0.04%	—
42	FSTR	Foster (lb) Co-a	Stock-Other	0.21%	+0.21%	NEW
43	LAND	Gladstone Land CORP	Stock-Other	0.21%	+0.05%	—
44	BOOM	Dmc Global INC	Stock-Other	0.11%	-0.01%	—
45	AKBA	Akebia Therapeutics INC	Stock-Other	0.08%	+0.01%	—
46	RIG	Transocean Ltd.	Stock-Energy	0.07%	+0.03%	—

Reported value over time

Sector allocation

Sector allocation over time

Quarterly history

Period	Holdings	Total value	Stability	Top holdings
2026-03-31	46	$95.9M	43	1SPY 2TBBK 3FIP Top holdings2026-03-31 1.SPY 2.TBBK 3.FIP 4.TDW 5.ACA 6.DCO 7.BANC 8.NOA 9.ENVA 10.G33856
2025-12-31	44	$115.2M	16	1SPY 2TBBK 3HBM Top holdings2025-12-31 1.SPY 2.TBBK 3.HBM 4.FIP 5.ACA 6.BANC 7.AX 8.ENVA 9.G33856 10.RVLV
2025-09-30	44	$115.7M	100	1SPY 2TBBK 3HBM Top holdings2025-09-30 1.SPY 2.TBBK 3.HBM 4.FIP 5.AX 6.ACA 7.GLRE 8.ETNBGBP 9.BANC 10.DCO
2025-06-30	39	$90.4M	0	1SPY 2TBBK 3FIP Top holdings2025-06-30 1.SPY 2.TBBK 3.FIP 4.HBM 5.GLRE 6.GTX 7.AX 8.ACA 9.BANC 10.NOA
2025-03-31	40	$146.2M	100	1TBBK 2ENVA 3CASH Top holdings2025-03-31 1.TBBK 2.ENVA 3.CASH 4.CRTO 5.FIP 6.GLRE 7.AX 8.GTX 9.BANC 10.ACA
2024-12-31	75	$253.7M	0	1ENVA 2TBBK 3CRTO Top holdings2024-12-31 1.ENVA 2.TBBK 3.CRTO 4.US3595 5.US7615 6.CASH 7.TRN 8.US4489 9.ACA 10.MWA
2024-09-30	76	$290.6M	0	1TBBK2US35953ENVA Top holdings2024-09-30 1.TBBK 2.US3595 3.ENVA 4.CRTO 5.TRN 6.CASH 7.US8864 8.ARCB 9.7SU 10.ACA
2024-06-30	43	$331.0M	0	1FIP 2CRTO 3TDW Top holdings2024-06-30 1.FIP 2.CRTO 3.TDW 4.TBBK 5.FTAI 6.ENVA 7.EHC 8.GLRE 9.TRN 10.VSTOEUR
2024-03-31	49	$340.9M	0	1CRTO 2FIP 3TDW Top holdings2024-03-31 1.CRTO 2.FIP 3.TDW 4.ENVA 5.ARCB 6.TBBK 7.EHC 8.GTX 9.GLRE 10.TRS
2023-12-31	45	$319.3M	0	1AX 2TBBK 3FTAI Top holdings2023-12-31 1.AX 2.TBBK 3.FTAI 4.ENVA 5.ARCB 6.TDW 7.CRTO 8.TRS 9.GLRE 10.TRN
2023-09-30	45	$270.4M	0	1TBBK 2CRTO 3AX Top holdings2023-09-30 1.TBBK 2.CRTO 3.AX 4.FTAI 5.ARCB 6.TRS 7.TDW 8.GLRE 9.EHC 10.ENVA
2023-06-30	49	$297.3M	0	1CRTO 2TBBK 3AX Top holdings2023-06-30 1.CRTO 2.TBBK 3.AX 4.MWA 5.ENVA 6.TRS 7.CASH 8.ETNBGBP 9.FTAI 10.ARCB
2023-03-31	48	$298.9M	0	1FTAI 2CRTO 3TBBK Top holdings2023-03-31 1.FTAI 2.CRTO 3.TBBK 4.GRBK 5.AX 6.TRS 7.7SU 8.ARCB 9.CASH 10.LGFEUR
2022-12-31	51	$298.3M	0	1TBBK 2CASH 3ENVA Top holdings2022-12-31 1.TBBK 2.CASH 3.ENVA 4.GLRE 5.CRTO 6.AX 7.TRS 8.TRN 9.7SU 10.FTAI
2022-09-30	49	$267.4M	0	1TBBK 2CRTO 3ABCB Top holdings2022-09-30 1.TBBK 2.CRTO 3.ABCB 4.GLRE 5.AX 6.CASH 7.ENVA 8.TRS 9.ACA 10.7SU
2022-06-30	52	$320.2M	0	1TBBK 2AX 3ABCB Top holdings2022-06-30 1.TBBK 2.AX 3.ABCB 4.FTAIEUR 5.CRTO 6.TRS 7.ENVA 8.GLRE 9.CLNSEUR 10.CASH
2022-03-31	48	$351.7M	0	1TBBK 2AX 3CASH Top holdings2022-03-31 1.TBBK 2.AX 3.CASH 4.CLNSEUR 5.FFWM 6.CRTO 7.ENVA 8.TRS 9.CNTY 10.IMAX
2021-12-31	47	$340.9M	0	1TBBK 2AX 3CASH Top holdings2021-12-31 1.TBBK 2.AX 3.CASH 4.CRTO 5.CLNSEUR 6.TRS 7.ENVA 8.7SU 9.FFWM 10.ABCB
2021-09-30	45	$332.3M	0	1TBBK 2AX 3CRTO Top holdings2021-09-30 1.TBBK 2.AX 3.CRTO 4.CASH 5.FFWM 6.ABCB 7.CNTY 8.TRS 9.ENVA 10.IMAX
2021-06-30	44	$346.2M	28	1TBBK 2AX 3CRTO Top holdings2021-06-30 1.TBBK 2.AX 3.CRTO 4.CASH 5.CLNSEUR 6.GLRE 7.IMAX 8.CNTY 9.ABCB 10.FFWM
2021-03-31	42	$317.9M	39	1TBBK 2AX 3MIKUSD Top holdings2021-03-31 1.TBBK 2.AX 3.MIKUSD 4.CRTO 5.ABCB 6.CASH 7.ACA 8.ENVA 9.IMAX 10.FFWM
2020-12-31	44	$234.6M	—	1TBBK 2AX 3ENVA Top holdings2020-12-31 1.TBBK 2.AX 3.ENVA 4.MIKUSD 5.TRS 6.IMAX 7.CASH 8.ACA 9.FFWM 10.GLRE

Holding changes this quarter

Orchard Capital Management, LLC's most significant position changes for 2026-03-31: New buy: Myers Industries INC (MYE); Sold out: Criteo Sa-spon Adr (CRTO); New buy: Cf Industries Holdings INC (CF); New buy: Wabtec CORP (WAB); Sold out: Armstrong World Industries (AWI).

Position changes disclosed by Orchard Capital Management, LLC for the quarter ending 2026-03-31, including ticker, issuer, weight change, shares change, and action
#	Ticker	Issuer	Weight Change	Shares Change	Action
1	TDW	Tidewater INC	+2.1%	—	Unchanged
2	UAMY	United States Antimony CORP	+1.4%	—	Unchanged
3	TGB	Taseko Mines LTD	+1.4%	+1136.28%	Add
4	RIOT	Riot Platforms INC	+1.3%	+88.50%	Add
5	DCO	Ducommun INC	+1.3%	—	Unchanged
6	NOA	North American Construction	+1.2%	+44.37%	Add
7	ARCB	Arcbest CORP	+1.1%	—	Unchanged
8	FIP	Ftai Infrastructure INC	+0.9%	—	Unchanged
9	MTUS	Metallus INC	+0.9%	+46.57%	Add
10	TRN	Trinity Industries INC	+0.8%	—	Unchanged
11	GLRE	Greenlight Capital Re, Ltd.	+0.7%	—	Unchanged
12	CASH	Pathward Financial INC	+0.7%	—	Unchanged
13	ACA	Arcosa INC	+0.6%	—	Unchanged
14	GTX	Garrett Motion INC	+0.6%	—	Unchanged
15	TBBK	Bancorp Inc/the	+0.6%	+13.93%	Add
16	NTLA	Intellia Therapeutics INC	+0.5%	—	Unchanged
17	CENT	Central Garden & Pet Co	+0.5%	—	Unchanged
18	AESI	Atlas Energy Solutions INC	+0.4%	—	Unchanged
19	BANC	Banc Of California INC	+0.3%	—	Unchanged
20	TFIN	Triumph Financial INC	+0.3%	—	Unchanged
21	NODK	Ni Holdings INC	+0.2%	—	Unchanged
22	✓	Ferroglobe PLC	+0.2%	—	Unchanged
23	AZZ	Azz INC	+0.2%	—	Unchanged
24	ENVA	Enova International INC	+0.1%	—	Unchanged
25	CASY	Casey's General Stores INC	+0.1%	—	Unchanged
26	SEI	Solaris Energy Infrastructur	+0.1%	—	Unchanged
27	CENTA	Central Garden And Pet Co-a	+0.1%	—	Unchanged
28	LAND	Gladstone Land CORP	+0.1%	—	Unchanged
29	FELE	Franklin Electric Co INC	+0.1%	—	Unchanged
30	DBRG	Digitalbridge Group INC	0%	—	Unchanged
31	RIG	Transocean Ltd.	0%	—	Unchanged
32	FBRT	Franklin Bsp Realty Trust In	0%	—	Unchanged
33	AKBA	Akebia Therapeutics INC	0%	—	Unchanged
34	BOOM	Dmc Global INC	0%	—	Unchanged
35	IDR	Idaho Strategic Resources In	0%	—	Unchanged
36	✓		-0.1%	—	Unchanged
37	TLN	Talen Energy CORP	-0.2%	-34.00%	Trim
38	HRTX	Heron Therapeutics INC	-0.2%	—	Unchanged
39	AX	Axos Financial INC	-1%	-44.02%	Trim
40	RVLV	Revolve Group INC	-1.2%	-43.18%	Trim
41	HBM	Hudbay Minerals INC	-2.1%	-53.84%	Trim
42	SPY	Ss Spdr S&p 500 ETF Trust-us	-15.2%	-50.00%	Trim
43	MYE	Myers Industries INC	—	NEW	New buy
44	CRTO	Criteo Sa-spon Adr	—	EXIT	Sold out
45	CF	Cf Industries Holdings INC	—	NEW	New buy
46	WAB	Wabtec CORP	—	NEW	New buy
47	AWI	Armstrong World Industries	—	EXIT	Sold out
48	FSTR	Foster (lb) Co-a	—	NEW	New buy

FAQ

What is Orchard Capital Management, LLC and what type of investor is it?

Orchard Capital Management, LLC is a investment manager that files SEC Form 13F quarterly, disclosing its U.S. public equity holdings to regulators. As of the most recent reporting period (2026-03-31), the firm manages a tracked equity portfolio valued at approximately $95.9M, spread across 46 disclosed positions.

What are Orchard Capital Management, LLC's largest equity positions?

Based on the latest 13F filing, Orchard Capital Management, LLC's top holdings by market value are: 1. Ss Spdr S&p 500 ETF Trust-us (SPY) — $19.5M (20.4%) 2. Bancorp Inc/the (TBBK) — $6.5M (6.8%) 3. Ftai Infrastructure INC (FIP) — $4.0M (4.2%) 4. Tidewater INC (TDW) — $4.0M (4.2%) 5. Arcosa INC (ACA) — $3.6M (3.8%)

What changes did Orchard Capital Management, LLC make in its most recent portfolio filing?

In the latest reported quarter, Orchard Capital Management, LLC made 16 notable position adjustments: 4 new positions were initiated, 5 existing holdings were added to, 5 positions were partially reduced, and 2 were completely exited. The largest of these moves: New buy: Myers Industries INC (MYE); Sold out: Criteo Sa-spon Adr (CRTO); New buy: Cf Industries Holdings INC (CF); New buy: Wabtec CORP (WAB); Sold out: Armstrong World Industries (AWI)

What sectors does Orchard Capital Management, LLC focus on?

Orchard Capital Management, LLC is concentrated in the following sectors based on its current disclosed equity portfolio: • Financials: 36.6% • Industrials: 23.2% • Energy: 22.0% • Consumer Discretionary: 15.3% • Utilities: 1.7% • Materials: 1.4%