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Orchard Capital Management, LLC

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13F filer, CIK 1858319, CHICAGO, IL

Orchard Capital Management, LLC reported $146,247,889 across 40 holdings for the quarter ended 2025-03-31, in a 13F-HR filed 2025-05-15. Its ten largest share positions make up 50.55% of the portfolio.

Filed (acceptance time not in the bulk data set), ingested 13F-HR 0001104659-25-049197

Period
2025-03-31
Reported value
$146M
Holdings
40
Top 10 weight
50.55%
New
1
Sold out
18

Largest buys vs the previous quarter

SecurityShares changeApprox. value
FIPadded+1,436,700$6.51M
HBMadded+668,407$5.07M
NOAadded+317,331$5.01M
BANCadded+303,398$4.31M
FBRTadded+335,018$4.27M

Ranked by the share change valued at this quarter's implied price (value over shares in the 13F). A position sold out is valued at the previous quarter's price, its last report.

Largest sells vs the previous quarter

SecurityShares changeApprox. value
FTAI INFRASTRUCTURE INC COM…exited-1,896,093-$13.4M
REVOLVE GROUP INC CL Aexited-339,709-$11.6M
IDT CORP CL B NEWexited-218,000-$10.3M
ENVAreduced-104,187-$10.1M
MWAreduced-385,899-$9.81M

Ranked by the share change valued at this quarter's implied price (value over shares in the 13F). A position sold out is valued at the previous quarter's price, its last report.

Holdings, Q1 2025

Share positions as resolved from 13F-HR 0001104659-25-049197, largest first. % of portfolio is the value over $146,247,889, the sum of the share positions whose value is usable for ratios (method).

SecurityHistorySharesValue% of portfolioChangeLatest eventTimeline
TBBKBANCORP INC DELQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 370,235 shares; 2024Q4: 352,557 shares; 2025Q1: 211,646 shares 211,646$11.2M7.65%-140,911Timeline
ENVAENOVA INTL INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 204,820 shares; 2024Q4: 193,849 shares; 2025Q1: 89,662 shares 89,662$8.66M5.92%-104,187Timeline
CASHPATHWARD FINANCIAL INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 165,081 shares; 2024Q4: 155,831 shares; 2025Q1: 116,195 shares 116,195$8.48M5.8%-39,636Timeline
CRTOCRITEO S AQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 400,608 shares; 2024Q4: 377,615 shares; 2025Q1: 214,897 shares 214,897$7.61M5.2%-162,718Timeline
FIPFTAI INFRASTRUCTURE INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 172,160 shares; 2024Q4: 179,055 shares; 2025Q1: 1,615,755 shares 1,615,755$7.32M5%+1,436,700Timeline
GLREGREENLIGHT CAP RE LTDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 705,027 shares; 2024Q4: 666,181 shares; 2025Q1: 509,940 shares 509,940$6.91M4.72%-156,241Timeline
AXAXOS FINANCIAL INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 137,472 shares; 2024Q4: 130,157 shares; 2025Q1: 98,899 shares 98,899$6.38M4.36%-31,258Timeline
GTXGARRETT MOTION INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 1,012,114 shares; 2024Q4: 955,258 shares; 2025Q1: 714,089 shares 714,089$5.98M4.09%-241,169Timeline
BANCBANC OF CALIFORNIA INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 99,468 shares; 2024Q4: 99,854 shares; 2025Q1: 403,252 shares 403,252$5.72M3.91%+303,398Timeline
ACAARCOSA INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 103,002 shares; 2024Q4: 97,600 shares; 2025Q1: 73,835 shares 73,835$5.69M3.89%-23,765Timeline
NOANORTH AMERN CONSTR GROUP LTDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 20,826 shares; 2024Q4: 30,626 shares; 2025Q1: 347,957 shares 347,957$5.49M3.76%+317,331Timeline
HBMHUDBAY MINERALS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 51,794 shares; 2024Q4: 52,520 shares; 2025Q1: 720,927 shares 720,927$5.47M3.74%+668,407Timeline
FBRTFRANKLIN BSP RLTY TR INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 28,482 shares; 2024Q4: 30,304 shares; 2025Q1: 365,322 shares 365,322$4.65M3.18%+335,018Timeline
RVLVREVOLVE GROUP INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 20,869 shares; 2024Q4: 21,532 shares; 2025Q1: 208,209 shares 208,209$4.47M3.06%+186,677Timeline
ARCBARCBEST CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 89,718 shares; 2024Q4: 84,698 shares; 2025Q1: 63,300 shares 63,300$4.47M3.05%-21,398Timeline
TDWTIDEWATER INC NEWQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 5,054 shares; 2024Q4: 5,299 shares; 2025Q1: 102,414 shares 102,414$4.33M2.96%+97,115Timeline
GSMFERROGLOBE PLCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 1,626,145 shares; 2024Q4: 1,533,648 shares; 2025Q1: 1,144,520 shares 1,144,520$4.25M2.9%-389,128Timeline
IDTIDT CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 18,506 shares; 2024Q4: 19,550 shares; 2025Q1: 78,945 shares 78,945$4.05M2.77%+59,395Timeline
DCODUCOMMUN INC DELQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 92,012 shares; 2025Q1: 68,377 shares 68,377$3.97M2.71%-23,635Timeline
CENTCENTRAL GARDEN & PET COQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 148,979 shares; 2024Q4: 140,740 shares; 2025Q1: 104,902 shares 104,902$3.85M2.63%-35,838Timeline
89BIO INC89BIO INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 41,874 shares; 2024Q4: 42,625 shares; 2025Q1: 464,358 shares 464,358$3.38M2.31%+421,733
NODKNI HLDGS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 314,550 shares; 2024Q4: 298,525 shares; 2025Q1: 230,626 shares 230,626$3.29M2.25%-67,899Timeline
HRTXHERON THERAPEUTICS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 1,980,198 shares; 2024Q4: 1,876,460 shares; 2025Q1: 1,431,758 shares 1,431,758$3.15M2.15%-444,702Timeline
TRIUMPH FINANCIAL INCTRIUMPH FINANCIAL INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 76,846 shares; 2024Q4: 72,212 shares; 2025Q1: 54,450 shares 54,450$3.15M2.15%-17,762
TRNTRINITY INDS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 332,852 shares; 2024Q4: 314,707 shares; 2025Q1: 111,886 shares 111,886$3.14M2.15%-202,821Timeline
AESIATLAS ENERGY SOLUTIONS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 9,251 shares; 2025Q1: 162,222 shares 162,222$2.89M1.98%+152,971Timeline
THE SHYFT GROUPTHE SHYFT GROUPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 23,237 shares; 2024Q4: 24,098 shares; 2025Q1: 341,391 shares 341,391$2.76M1.89%+317,293
NTLAINTELLIA THERAPEUTICS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 11,986 shares; 2024Q4: 12,157 shares; 2025Q1: 185,496 shares 185,496$1.32M0.9%+173,339Timeline
CENTACENTRAL GARDEN & PET COQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 26,222 shares 26,222$858K0.59%newTimeline
MWAMUELLER WTR PRODS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 439,887 shares; 2024Q4: 416,053 shares; 2025Q1: 30,154 shares 30,154$767K0.52%-385,899Timeline
CNTYCENTURY CASINOS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 1,168,400 shares; 2024Q4: 1,087,710 shares; 2025Q1: 369,900 shares 369,900$625K0.43%-717,810Timeline
TLNTALEN ENERGY CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 2,859 shares; 2024Q4: 2,859 shares; 2025Q1: 2,859 shares 2,859$571K0.39%0Timeline
AZZAZZ INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 3,902 shares; 2024Q4: 3,902 shares; 2025Q1: 3,902 shares 3,902$326K0.22%0Timeline
FELEFRANKLIN ELEC INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 3,427 shares; 2024Q4: 3,427 shares; 2025Q1: 3,427 shares 3,427$322K0.22%0Timeline
AWIARMSTRONG WORLD INDS INC NEWQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 1,816 shares; 2024Q4: 1,816 shares; 2025Q1: 1,816 shares 1,816$256K0.17%0Timeline
POTBELLY CORPPOTBELLY CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 20,888 shares; 2024Q4: 20,888 shares; 2025Q1: 20,888 shares 20,888$199K0.14%0
DBRGDIGITALBRIDGE GROUP INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 20,083 shares; 2024Q4: 20,708 shares; 2025Q1: 13,862 shares 13,862$122K0.08%-6,846Timeline
AKBAAKEBIA THREAPEUTICS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 84,716 shares; 2024Q4: 60,710 shares; 2025Q1: 53,510 shares 53,510$103K0.07%-7,200Timeline
PERFORMANT HEALTHCARE INCPERFORMANT HEALTHCARE INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 20,000 shares; 2024Q4: 20,000 shares; 2025Q1: 20,000 shares 20,000$59.2K0.04%0
RIGTRANSOCEAN LTDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 10,185 shares; 2024Q4: 10,185 shares; 2025Q1: 10,185 shares 10,185$32.3K0.02%0Timeline

Sold out in Q1 2025

Positions in the previous quarter's report that this quarter's report no longer lists.

SecurityShares beforeValue beforeType
FTAI INFRASTRUCTURE INC COM…FTAI INFRASTRUCTURE INC COMMON ST…1,896,093$13.4Mshares
REVOLVE GROUP INC CL AREVOLVE GROUP INC CL A339,709$11.6Mshares
IDT CORP CL B NEWIDT CORP CL B NEW218,000$10.3Mshares
SUMMIT MATERIALS INC CLASS ASUMMIT MATERIALS INC CLASS A171,000$8.64Mshares
TIDEWATER INC NEW COMTIDEWATER INC NEW COM132,454$7.05Mshares
FRANKLIN BSP RLTY TR INC CO…FRANKLIN BSP RLTY TR INC COMMON S…456,931$5.72Mshares
SHYFT GROUP INC COMSHYFT GROUP INC COM431,946$5.01Mshares
89BIO INC COM89BIO INC COM575,204$4.48Mshares
DIGITALBRIDGE GROUP INC CL …DIGITALBRIDGE GROUP INC CL A NEW328,059$3.67Mshares
OMNIAB INC COMOMNIAB INC COM936,846$3.34Mshares
ATLAS ENERGY SOLUTIONS INC …ATLAS ENERGY SOLUTIONS INC COM NEW139,122$3.11Mshares
INTELLIA THERAPEUTICS INC C…INTELLIA THERAPEUTICS INC COM182,750$2.09Mshares
CENTRAL GARDEN & PET CO CL …CENTRAL GARDEN & PET CO CL A NON-…33,583$1.1Mshares
OABIOMNIAB INC218,765$774Kshares
REVELYST INCREVELYST INC23,210$446Kshares
FTAIFTAI AVIATION LTD1,762$254Kshares
PYPLPAYPAL HLDGS INC2,370$202Kshares
BANRBANNER CORP3,029$202Kshares

How Q1 2025 was built

Available 13F filings of this filer for the quarter and their roles: the base report is the latest original or restatement, NEW HOLDINGS amendments filed after it are added (method).

FilingRoleAmendmentFiledAcceptedIngested
13F-HR 0001104659-25-049197 base2025-05-15acceptance time not in the bulk data set