Q3 2025 · 13F-HR
Orchard Capital Management, LLCholdings as filed
Filed 2025-11-12 · accession 0001104659-25-110378
$115.7M
Reported value
44
Positions
2025-09-30
Period end
The Brief · Orchard Capital Management, LLC · Q3 2025
AI · grounded in 13F
Orchard Capital Management, LLC established a new position in SPY valued at $39.97M. The fund also initiated new stakes in TBBK for $9.12M and HBM for $6.63M. Additional new positions include FIP, AX, and ACA.
Holdings as filed
| CUSIP | Ticker | Issuer | Value | % port. | Shares | Class | Voting |
|---|---|---|---|---|---|---|---|
| 78462F103 | SPY | SPDR S&P 500 ETF TR | $40.0M | 34.5% | 60,000 | PUT | SOLE |
| 05969A105 | TBBK | BANCORP INC DEL | $9.1M | 7.88% | 121,736 | Common | SOLE |
| 443628102 | HBM | HUDBAY MINERALS INC | $6.6M | 5.73% | 437,527 | Common | SOLE |
| 35953C106 | FIP | FTAI INFRASTRUCTURE INC | $3.5M | 3.03% | 803,768 | Common | SOLE |
| 05465C100 | AX | AXOS FINANCIAL INC | $3.3M | 2.86% | 39,039 | Common | SOLE |
| 039653100 | ACA | ARCOSA INC | $3.1M | 2.72% | 33,539 | Common | SOLE |
| G4095J109 | GLRE | GREENLIGHT CAPITAL RE LTD | $3.1M | 2.69% | 244,869 | Common | SOLE |
| 282559103 | ETNBGBP | 89BIO INC | $3.0M | 2.59% | 204,114 | Common | SOLE |
| 05990K106 | BANC | BANC OF CALIFORNIA INC | $2.9M | 2.52% | 176,030 | Common | SOLE |
| 264147109 | DCO | DUCOMMUN INC DEL | $2.7M | 2.35% | 28,301 | Common | SOLE |
| 88642R109 | TDW | TIDEWATER INC NEW | $2.5M | 2.18% | 47,260 | Common | SOLE |
| 29357K103 | ENVA | ENOVA INTL INC | $2.5M | 2.12% | 21,295 | Common | SOLE |
| G33856108 | GSM | FERROGLOBE PLC | $2.2M | 1.90% | 484,338 | Common | SOLE |
| 656811106 | NOA | NORTH AMERN CONSTR GROUP LTD | $2.2M | 1.87% | 152,138 | Common | SOLE |
| 896522109 | TRN | TRINITY INDS INC | $2.1M | 1.84% | 75,836 | Common | SOLE |
| 366505105 | GTX | GARRETT MOTION INC | $2.1M | 1.81% | 153,699 | Common | SOLE |
| 76156B107 | RVLV | REVOLVE GROUP INC | $2.0M | 1.69% | 91,949 | Common | SOLE |
| 03937C105 | ARCB | ARCBEST CORP | $1.9M | 1.63% | 27,014 | Common | SOLE |
| H00501108 | AEBI | AEBI SCHMIDT HLDG AG | $1.9M | 1.63% | 151,338 | Common | SOLE |
| 35243J101 | FBRT | FRANKLIN BSP RLTY TR INC | $1.7M | 1.49% | 158,590 | Common | SOLE |
| 89679E300 | TFIN | TRIUMPH FINANCIAL INC | $1.7M | 1.48% | 34,161 | Common | SOLE |
| 65342T106 | NODK | NI HLDGS INC | $1.6M | 1.39% | 118,817 | Common | SOLE |
| 59100U108 | CASH | PATHWARD FINANCIAL INC | $1.5M | 1.30% | 20,331 | Common | SOLE |
| 887399103 | MTUS | METALLUS INC | $1.5M | 1.29% | 90,618 | Common | SOLE |
| 153527106 | CENT | CENTRAL GARDEN & PET CO | $1.4M | 1.24% | 44,120 | Common | SOLE |
| 45826J105 | NTLA | INTELLIA THERAPEUTICS INC | $1.4M | 1.22% | 81,598 | Common | SOLE |
| 226718104 | CRTO | CRITEO S A | $1.3M | 1.10% | 56,551 | Common | SOLE |
| 767292105 | RIOT | RIOT PLATFORMS INC | $1.2M | 1.03% | 62,533 | Common | SOLE |
| 427746102 | HRTX | HERON THERAPEUTICS INC | $853,385 | 0.74% | 677,290 | Common | SOLE |
| 642045108 | AESI | ATLAS ENERGY SOLUTIONS INC | $823,097 | 0.71% | 72,392 | Common | SOLE |
| 87422Q109 | TLN | TALEN ENERGY CORP | $683,160 | 0.59% | 1,606 | Common | SOLE |
| 002474104 | AZZ | AZZ INC | $425,825 | 0.37% | 3,902 | Common | SOLE |
| 04247X102 | AWI | ARMSTRONG WORLD INDS INC NEW | $355,954 | 0.31% | 1,816 | Common | SOLE |
| 73754Y100 | PTB | POTBELLY CORP | $355,932 | 0.31% | 20,888 | Common | SOLE |
| 645827205 | IDR | IDAHO STRATEGIC RESOURCES | $336,413 | 0.29% | 9,956 | Common | SOLE |
| 353514102 | FELE | FRANKLIN ELEC INC | $326,250 | 0.28% | 3,427 | Common | SOLE |
| 153527205 | CENTA | CENTRAL GARDEN & PET CO | $325,686 | 0.28% | 11,029 | Common | SOLE |
| 83418M103 | SEI | SOLARIS ENERGY INFRAS INC | $229,828 | 0.20% | 5,750 | Common | SOLE |
| 147528103 | CASY | CASEYS GEN STORES INC | $226,128 | 0.20% | 400 | Common | SOLE |
| 392709101 | GRBK | GREEN BRICK PARTNERS INC | $221,580 | 0.19% | 3,000 | Common | SOLE |
| 25401T603 | DBRG | DIGITALBRIDGE GROUP INC | $162,185 | 0.14% | 13,862 | Common | SOLE |
| 71377E105 | PFMTUSD | PERFORMANT HEALTHCARE INC | $154,600 | 0.13% | 20,000 | Common | SOLE |
| 00972D105 | AKBA | AKEBIA THERAPEUTICS INC | $146,082 | 0.13% | 53,510 | Common | SOLE |
| H8817H100 | RIG | TRANSOCEAN LTD | $31,777 | 0.03% | 10,185 | Common | SOLE |
Source: SEC EDGAR · raw 13F holdings as filed. The Class column shows the option type when reported (Put/Call) or Common when the issuer's equity is held directly. 13F discloses long positions only.