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Orchard Capital Management, LLC

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13F filer, CIK 1858319, CHICAGO, IL

Orchard Capital Management, LLC reported $95,893,110 across 46 holdings for the quarter ended 2026-03-31, in a 13F-HR filed 2026-05-13. Its ten largest share positions make up 47.6% of the portfolio.

Filed (acceptance time not in the bulk data set), ingested 13F-HR 0001104659-26-060286

Period
2026-03-31
Reported value
$95.9M
Holdings
46
Top 10 weight
47.6%
New
5
Sold out
3

Largest buys vs the previous quarter

SecurityShares changeApprox. value
MYEnew+74,628$1.58M
TGBadded+205,200$1.32M
RIOTadded+88,232$1.09M
NOAadded+68,812$928K
TBBKadded+14,777$794K

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
SPYexited-60,000-$40.9M
HBMreduced-153,808-$3.21M
AXreduced-17,466-$1.49M
CRTOexited-57,293-$1.18M
RVLVreduced-40,461-$915K

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 2026

Share positions as resolved from 13F-HR 0001104659-26-060286, largest first. % of portfolio is the value over $76,382,910, 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; 2024Q2: restricted; 2024Q3: 370,235 shares; 2024Q4: 352,557 shares; 2025Q1: 211,646 shares; 2025Q2: 121,736 shares; 2025Q3: 121,736 shares; 2025Q4: 106,079 shares; 2026Q1: 120,856 shares 120,856$6.49M8.5%+14,777Timeline
FIPFTAI INFRASTRUCTURE INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q2: restricted; 2024Q3: 172,160 shares; 2024Q4: 179,055 shares; 2025Q1: 1,615,755 shares; 2025Q2: 766,784 shares; 2025Q3: 803,768 shares; 2025Q4: 815,038 shares; 2026Q1: 815,038 shares 815,038$4.03M5.27%0Timeline
TDWTIDEWATER INC NEWQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q2: restricted; 2024Q3: 5,054 shares; 2024Q4: 5,299 shares; 2025Q1: 102,414 shares; 2025Q2: 45,880 shares; 2025Q3: 47,260 shares; 2025Q4: 48,166 shares; 2026Q1: 48,166 shares 48,166$4.02M5.27%0Timeline
ACAARCOSA INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q2: restricted; 2024Q3: 103,002 shares; 2024Q4: 97,600 shares; 2025Q1: 73,835 shares; 2025Q2: 32,611 shares; 2025Q3: 33,539 shares; 2025Q4: 34,150 shares; 2026Q1: 34,150 shares 34,150$3.62M4.75%0Timeline
DCODUCOMMUN INC DELQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 92,012 shares; 2025Q1: 68,377 shares; 2025Q2: 27,378 shares; 2025Q3: 28,301 shares; 2025Q4: 28,907 shares; 2026Q1: 28,907 shares 28,907$3.53M4.62%0Timeline
BANCBANC OF CALIFORNIA INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q2: restricted; 2024Q3: 99,468 shares; 2024Q4: 99,854 shares; 2025Q1: 403,252 shares; 2025Q2: 171,717 shares; 2025Q3: 176,030 shares; 2025Q4: 177,885 shares; 2026Q1: 177,885 shares 177,885$3.13M4.09%0Timeline
NOANORTH AMERN CONSTR GROUP LTDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q2: restricted; 2024Q3: 20,826 shares; 2024Q4: 30,626 shares; 2025Q1: 347,957 shares; 2025Q2: 147,627 shares; 2025Q3: 152,138 shares; 2025Q4: 155,101 shares; 2026Q1: 223,913 shares 223,913$3.02M3.95%+68,812Timeline
ENVAENOVA INTL INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q2: restricted; 2024Q3: 204,820 shares; 2024Q4: 193,849 shares; 2025Q1: 89,662 shares; 2025Q2: 20,663 shares; 2025Q3: 21,295 shares; 2025Q4: 21,552 shares; 2026Q1: 21,552 shares 21,552$2.93M3.83%0Timeline
GSMFERROGLOBE PLCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q2: restricted; 2024Q3: 1,626,145 shares; 2024Q4: 1,533,648 shares; 2025Q1: 1,144,520 shares; 2025Q2: 469,150 shares; 2025Q3: 484,338 shares; 2025Q4: 681,745 shares; 2026Q1: 681,745 shares 681,745$2.81M3.68%0Timeline
GTXGARRETT MOTION INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q2: restricted; 2024Q3: 1,012,114 shares; 2024Q4: 955,258 shares; 2025Q1: 714,089 shares; 2025Q2: 298,732 shares; 2025Q3: 153,699 shares; 2025Q4: 152,943 shares; 2026Q1: 152,943 shares 152,943$2.78M3.64%0Timeline
HBMHUDBAY MINERALS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q2: restricted; 2024Q3: 51,794 shares; 2024Q4: 52,520 shares; 2025Q1: 720,927 shares; 2025Q2: 410,823 shares; 2025Q3: 437,527 shares; 2025Q4: 285,674 shares; 2026Q1: 131,866 shares 131,866$2.76M3.61%-153,808Timeline
ARCBARCBEST CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q2: restricted; 2024Q3: 89,718 shares; 2024Q4: 84,698 shares; 2025Q1: 63,300 shares; 2025Q2: 26,178 shares; 2025Q3: 27,014 shares; 2025Q4: 27,564 shares; 2026Q1: 27,564 shares 27,564$2.71M3.55%0Timeline
UAMYUNITED STATES ANTIMONY CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 304,623 shares; 2026Q1: 304,623 shares 304,623$2.66M3.48%0Timeline
TRNTRINITY INDS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q2: restricted; 2024Q3: 332,852 shares; 2024Q4: 314,707 shares; 2025Q1: 111,886 shares; 2025Q2: 48,858 shares; 2025Q3: 75,836 shares; 2025Q4: 77,244 shares; 2026Q1: 77,244 shares 77,244$2.49M3.25%0Timeline
GLREGREENLIGHT CAP RE LTDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q2: restricted; 2024Q3: 705,027 shares; 2024Q4: 666,181 shares; 2025Q1: 509,940 shares; 2025Q2: 238,771 shares; 2025Q3: 244,869 shares; 2025Q4: 138,927 shares; 2026Q1: 138,927 shares 138,927$2.4M3.14%0Timeline
RIOTRIOT PLATFORMS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 62,533 shares; 2025Q4: 99,701 shares; 2026Q1: 187,933 shares 187,933$2.32M3.04%+88,232Timeline
MTUSMETALLUS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 90,618 shares; 2025Q4: 92,092 shares; 2026Q1: 134,983 shares 134,983$2.21M2.89%+42,891Timeline
TFINTRIUMPH FINANCIAL INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 33,042 shares; 2025Q3: 34,161 shares; 2025Q4: 34,821 shares; 2026Q1: 34,821 shares 34,821$2.08M2.72%0Timeline
AXAXOS FINANCIAL INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q2: restricted; 2024Q3: 137,472 shares; 2024Q4: 130,157 shares; 2025Q1: 98,899 shares; 2025Q2: 37,886 shares; 2025Q3: 39,039 shares; 2025Q4: 39,674 shares; 2026Q1: 22,208 shares 22,208$1.89M2.47%-17,466Timeline
CASHPATHWARD FINANCIAL INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q2: restricted; 2024Q3: 165,081 shares; 2024Q4: 155,831 shares; 2025Q1: 116,195 shares; 2025Q2: 19,766 shares; 2025Q3: 20,331 shares; 2025Q4: 20,901 shares; 2026Q1: 20,901 shares 20,901$1.86M2.44%0Timeline
CENTCENTRAL GARDEN & PET COQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q2: restricted; 2024Q3: 148,979 shares; 2024Q4: 140,740 shares; 2025Q1: 104,902 shares; 2025Q2: 42,720 shares; 2025Q3: 44,120 shares; 2025Q4: 44,381 shares; 2026Q1: 44,381 shares 44,381$1.63M2.14%0Timeline
MYEMYERS INDS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: not reported; 2026Q1: 74,628 shares 74,628$1.58M2.07%newTimeline
NODKNI HLDGS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q2: restricted; 2024Q3: 314,550 shares; 2024Q4: 298,525 shares; 2025Q1: 230,626 shares; 2025Q2: 114,732 shares; 2025Q3: 118,817 shares; 2025Q4: 119,629 shares; 2026Q1: 119,629 shares 119,629$1.54M2.02%0Timeline
AEBIAEBI SCHMIDT HLDG AGQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 151,338 shares; 2025Q4: 154,431 shares; 2026Q1: 154,431 shares 154,431$1.5M1.96%0Timeline
TGBTASEKO MINES LTDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 18,059 shares; 2026Q1: 223,259 shares 223,259$1.44M1.89%+205,200Timeline
FBRTFRANKLIN BSP RLTY TR INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q2: restricted; 2024Q3: 28,482 shares; 2024Q4: 30,304 shares; 2025Q1: 365,322 shares; 2025Q2: 153,828 shares; 2025Q3: 158,590 shares; 2025Q4: 161,719 shares; 2026Q1: 161,719 shares 161,719$1.37M1.8%0Timeline
RVLVREVOLVE GROUP INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q2: restricted; 2024Q3: 20,869 shares; 2024Q4: 21,532 shares; 2025Q1: 208,209 shares; 2025Q2: 89,271 shares; 2025Q3: 91,949 shares; 2025Q4: 93,707 shares; 2026Q1: 53,246 shares 53,246$1.2M1.58%-40,461Timeline
NTLAINTELLIA THERAPEUTICS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q2: restricted; 2024Q3: 11,986 shares; 2024Q4: 12,157 shares; 2025Q1: 185,496 shares; 2025Q2: 79,208 shares; 2025Q3: 81,598 shares; 2025Q4: 82,030 shares; 2026Q1: 82,030 shares 82,030$1.05M1.38%0Timeline
AESIATLAS ENERGY SOLUTIONS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 9,251 shares; 2025Q1: 162,222 shares; 2025Q2: 70,098 shares; 2025Q3: 72,392 shares; 2025Q4: 74,249 shares; 2026Q1: 74,249 shares 74,249$974K1.28%0Timeline
HRTXHERON THERAPEUTICS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q2: restricted; 2024Q3: 1,980,198 shares; 2024Q4: 1,876,460 shares; 2025Q1: 1,431,758 shares; 2025Q2: 659,933 shares; 2025Q3: 677,290 shares; 2025Q4: 680,432 shares; 2026Q1: 680,432 shares 680,432$544K0.71%0Timeline
AZZAZZ INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q2: restricted; 2024Q3: 3,902 shares; 2024Q4: 3,902 shares; 2025Q1: 3,902 shares; 2025Q2: 3,902 shares; 2025Q3: 3,902 shares; 2025Q4: 3,902 shares; 2026Q1: 3,902 shares 3,902$488K0.64%0Timeline
CENTACENTRAL GARDEN & PET COQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 26,222 shares; 2025Q2: 10,679 shares; 2025Q3: 11,029 shares; 2025Q4: 11,092 shares; 2026Q1: 11,092 shares 11,092$360K0.47%0Timeline
TLNTALEN ENERGY CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q2: restricted; 2024Q3: 2,859 shares; 2024Q4: 2,859 shares; 2025Q1: 2,859 shares; 2025Q2: 2,859 shares; 2025Q3: 1,606 shares; 2025Q4: 1,606 shares; 2026Q1: 1,060 shares 1,060$338K0.44%-546Timeline
SEISOLARIS ENERGY INFRAS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 5,750 shares; 2025Q4: 5,750 shares; 2026Q1: 5,750 shares 5,750$325K0.43%0Timeline
IDRIDAHO STRATEGIC RESOURCESQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 9,956 shares; 2025Q4: 9,956 shares; 2026Q1: 9,956 shares 9,956$320K0.42%0Timeline
FELEFRANKLIN ELEC INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q2: restricted; 2024Q3: 3,427 shares; 2024Q4: 3,427 shares; 2025Q1: 3,427 shares; 2025Q2: 3,427 shares; 2025Q3: 3,427 shares; 2025Q4: 3,427 shares; 2026Q1: 3,427 shares 3,427$316K0.41%0Timeline
CASYCASEYS GEN STORES INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 400 shares; 2025Q3: 400 shares; 2025Q4: 400 shares; 2026Q1: 400 shares 400$291K0.38%0Timeline
CFCF INDUSTRIES HOLDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: not reported; 2026Q1: 2,096 shares 2,096$272K0.36%newTimeline
WABWABTECQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: not reported; 2026Q1: 912 shares 912$228K0.3%newTimeline
DBRGDIGITALBRIDGE GROUP INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q2: restricted; 2024Q3: 20,083 shares; 2024Q4: 20,708 shares; 2025Q1: 13,862 shares; 2025Q2: 13,862 shares; 2025Q3: 13,862 shares; 2025Q4: 13,862 shares; 2026Q1: 13,862 shares 13,862$214K0.28%0Timeline
FSTRFOSTER L B COQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: not reported; 2026Q1: 7,379 shares 7,379$206K0.27%newTimeline
LANDGLADSTONE LD CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 19,695 shares; 2026Q1: 19,695 shares 19,695$201K0.26%0Timeline
BOOMDMC GLOBAL INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 21,152 shares; 2026Q1: 21,152 shares 21,152$110K0.14%0Timeline
AKBAAKEBIA THREAPEUTICS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q2: restricted; 2024Q3: 84,716 shares; 2024Q4: 60,710 shares; 2025Q1: 53,510 shares; 2025Q2: 53,510 shares; 2025Q3: 53,510 shares; 2025Q4: 53,510 shares; 2026Q1: 53,510 shares 53,510$74.4K0.1%0Timeline
RIGTRANSOCEAN LTDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q2: restricted; 2024Q3: 10,185 shares; 2024Q4: 10,185 shares; 2025Q1: 10,185 shares; 2025Q2: 10,185 shares; 2025Q3: 10,185 shares; 2025Q4: 10,185 shares; 2026Q1: 10,185 shares 10,185$67.5K0.09%0Timeline

Options

Puts and calls, as filed. The amount and value describe the underlying shares, not the option premium, so they stay out of % of portfolio (H5).

SecurityTypeAmountValueChange
SPYSTATE STR SPDR S&P 500 ETF T SHSput30,000$19.5Mnew

Sold out in Q1 2026

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

SecurityShares beforeValue beforeType
SPYSTATE STR SPDR S&P 500 ETF T60,000$40.9Mshares
CRTOCRITEO S A57,293$1.18Mshares
AWIARMSTRONG WORLD INDS INC NEW1,079$206Kshares

How Q1 2026 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 0001104659-26-060286 base2026-05-13acceptance time not in the bulk data set