# Orchard Capital Management, LLC

> Institutional holdings reported to the SEC as of Q2 2026 on Form 13F. CIK 1858319. Source: https://holderbook.com/funds/1858319-orchard-capital-management-llc/

- Reported value: $102.6M
- Positions: 44
- Weight of the ten largest: 52.9%
- Filed: 2026-08-12

A 13F reports long US equity positions only. Short positions, bonds, foreign listings, private holdings and cash are not visible, so this is not the manager's whole book.

## Holdings

| Security | Ticker | Value | Shares | Weight | Quarters held |
|---|---|---|---|---|---|
| INVESCO QQQ TR | [QQQ](https://holderbook.com/stocks/QQQ/) | $11.4M | 0 | 11.1% | 1 |
| BANCORP INC DEL | [TBBK](https://holderbook.com/stocks/TBBK/) | $7.3M | 116,995 | 7.1% | 23 |
| GREEN DOT CORP | [GDOT](https://holderbook.com/stocks/GDOT/) | $5.5M | 409,059 | 5.4% | 1 |
| ENOVA INTL INC | [ENVA](https://holderbook.com/stocks/ENVA/) | $5.3M | 21,824 | 5.1% | 23 |
| RIOT PLATFORMS INC | [RIOT](https://holderbook.com/stocks/RIOT/) | $5.2M | 189,729 | 5.1% | 4 |
| DUCOMMUN INC DEL | [DCO](https://holderbook.com/stocks/DCO/) | $4.4M | 23,718 | 4.3% | 7 |
| ARCOSA INC | [ACA](https://holderbook.com/stocks/ACA/) | $4.0M | 27,260 | 3.9% | 23 |
| FTAI INFRASTRUCTURE INC | [FIP](https://holderbook.com/stocks/FIP/) | $3.8M | 822,351 | 3.7% | 16 |
| TRIUMPH FINANCIAL INC | [TFIN](https://holderbook.com/stocks/TFIN/) | $3.8M | 49,633 | 3.7% | 5 |
| GARRETT MOTION INC | [GTX](https://holderbook.com/stocks/GTX/) | $3.7M | 101,167 | 3.6% | 13 |
| TIDEWATER INC NEW | [TDW](https://holderbook.com/stocks/TDW/) | $3.2M | 48,760 | 3.2% | 13 |
| HUDBAY MINERALS INC | [HBM](https://holderbook.com/stocks/HBM/) | $3.2M | 133,607 | 3.1% | 11 |
| NORTH AMERN CONSTR GROUP LTD | [NOA](https://holderbook.com/stocks/NOA/) | $3.0M | 226,537 | 2.9% | 8 |
| BANC OF CALIFORNIA INC | [BANC](https://holderbook.com/stocks/BANC/) | $3.0M | 147,413 | 2.9% | 11 |
| AEBI SCHMIDT HLDG AG | [AEBI](https://holderbook.com/stocks/AEBI/) | $2.9M | 234,969 | 2.9% | 4 |
| TRINITY INDS INC | [TRN](https://holderbook.com/stocks/TRN/) | $2.7M | 78,235 | 2.6% | 23 |
| MYERS INDS INC | [MYE](https://holderbook.com/stocks/MYE/) | $2.7M | 75,487 | 2.6% | 2 |
| METALLUS INC | [MTUS](https://holderbook.com/stocks/MTUS/) | $2.6M | 136,651 | 2.5% | 4 |
| TREKOR METALS LTD | - | $2.5M | 364,557 | 2.4% | 1 |
| UNITED STATES ANTIMONY CORP | [UAMY](https://holderbook.com/stocks/UAMY/) | $2.2M | 307,174 | 2.2% | 3 |
| FERROGLOBE PLC | [GSM](https://holderbook.com/stocks/GSM/) | $2.2M | 690,000 | 2.1% | 11 |
| AXOS FINANCIAL INC | [AX](https://holderbook.com/stocks/AX/) | $2.2M | 22,491 | 2.1% | 23 |
| FRANKLIN BSP RLTY TR INC | [FBRT](https://holderbook.com/stocks/FBRT/) | $2.2M | 267,856 | 2.1% | 18 |
| NI HLDGS INC | [NODK](https://holderbook.com/stocks/NODK/) | $1.9M | 120,742 | 1.8% | 23 |
| PATHWARD FINANCIAL INC | [CASH](https://holderbook.com/stocks/CASH/) | $1.8M | 21,144 | 1.8% | 23 |
| DRIVEN BRANDS HLDGS INC | [DRVN](https://holderbook.com/stocks/DRVN/) | $1.8M | 131,785 | 1.8% | 1 |
| INTELLIA THERAPEUTICS INC | [NTLA](https://holderbook.com/stocks/NTLA/) | $1.3M | 79,503 | 1.3% | 13 |
| ATLAS ENERGY SOLUTIONS INC | [AESI](https://holderbook.com/stocks/AESI/) | $1.2M | 75,237 | 1.2% | 7 |
| REVOLVE GROUP INC | [RVLV](https://holderbook.com/stocks/RVLV/) | $1.2M | 53,916 | 1.2% | 17 |
| AZZ INC | [AZZ](https://holderbook.com/stocks/AZZ/) | $605.0K | 3,902 | 0.6% | 13 |
| SOLARIS ENERGY INFRAS INC | [SEI](https://holderbook.com/stocks/SEI/) | $462.6K | 5,750 | 0.5% | 4 |
| TALEN ENERGY CORP | [TLN](https://holderbook.com/stocks/TLN/) | $407.3K | 1,060 | 0.4% | 8 |
| FRANKLIN ELEC INC | [FELE](https://holderbook.com/stocks/FELE/) | $367.3K | 3,427 | 0.4% | 23 |
| FOSTER L B CO | [FSTR](https://holderbook.com/stocks/FSTR/) | $333.3K | 7,379 | 0.3% | 2 |
| IDAHO STRATEGIC RESOURCES | [IDR](https://holderbook.com/stocks/IDR/) | $326.1K | 9,956 | 0.3% | 4 |
| CASEYS GEN STORES INC | [CASY](https://holderbook.com/stocks/CASY/) | $317.9K | 400 | 0.3% | 5 |
| WABTEC | [WAB](https://holderbook.com/stocks/WAB/) | $245.9K | 912 | 0.2% | 2 |
| GREEN BRICK PARTNERS INC | [GRBK](https://holderbook.com/stocks/GRBK/) | $240.1K | 3,000 | 0.2% | 1 |
| CF INDUSTRIES HOLD | [CF](https://holderbook.com/stocks/CF/) | $226.9K | 2,096 | 0.2% | 2 |
| DIGITALBRIDGE GROUP INC | [DBRG](https://holderbook.com/stocks/DBRG/) | $218.7K | 13,862 | 0.2% | 16 |
| BANNER CORP | [BANR](https://holderbook.com/stocks/BANR/) | $201.2K | 3,029 | 0.2% | 1 |
| GLADSTONE LD CORP | [LAND](https://holderbook.com/stocks/LAND/) | $168.0K | 19,695 | 0.2% | 3 |
| DMC GLOBAL INC | [BOOM](https://holderbook.com/stocks/BOOM/) | $122.9K | 21,152 | 0.1% | 3 |
| TRANSOCEAN LTD | [RIG](https://holderbook.com/stocks/RIG/) | $49.8K | 10,185 | 0.0% | 11 |

## What the disclosed book did

Not the fund's return. This is the change in value of the positions disclosed on Form 13F, had they been left untouched, against SPY over the same quarter ends.

| Quarter | Book | Market | Difference | Priced |
|---|---|---|---|---|
| Q2 2026 | +21.6% | +14.8% | +6.7% | 98% |
| Q1 2026 | +0.0% | -4.6% | +4.7% | 100% |
| Q4 2025 | +5.4% | +2.4% | +3.1% | 95% |
| Q3 2025 | +9.3% | +7.8% | +1.5% | 98% |
| Q2 2025 | +9.8% | +10.5% | -0.7% | 98% |
| Q1 2025 | -6.5% | -4.6% | -1.9% | 69% |
| Q4 2024 | +2.7% | +2.1% | +0.6% | 67% |
| Q3 2024 | +8.1% | +5.4% | +2.7% | 100% |

## Quarter by quarter

| Quarter | Value | Positions |
|---|---|---|
| Q2 2026 | $102.6M | 44 |
| Q1 2026 | $95.9M | 46 |
| Q4 2025 | $115.2M | 44 |
| Q3 2025 | $115.7M | 44 |
| Q2 2025 | $90.4M | 39 |
| Q1 2025 | $146.2M | 40 |
| Q4 2024 | $253.7M | 57 |
| Q3 2024 | $290.6M | 57 |
| Q2 2024 | $331.0M | 43 |
| Q1 2024 | $340.9M | 49 |
| Q4 2023 | $319.3M | 45 |
| Q3 2023 | $270.4M | 45 |