Orchard Capital Management, LLC
In its 13F for Q1 2024 (holdings as of March 31, 2024, filed May 15, 2024), Orchard Capital Management, LLC reported 49 stock positions worth $340.9 million. Its top holding was Criteo SA-Spon (CRTO) at 4.7% of the portfolio, followed by Ftai Infrastructure (FIP, 4.6%) and Tidewater (TDW, 4.5%). Compared with Q4 2023, it opened 8 new positions, sold out of 4, added to 32 and reduced 3. The biggest buy was a new position in Vista Outdoor (VSTO) and the biggest sale an exit from Lions Gate Entmnt.
- Most Recent 13F
- Q2 2026
- Location
- CHICAGO, IL
- CIK
- 0001858319
- Portfolio Value
- $340.9M (Q1 2024)
- SEC Filing
- 0001104659-24-061272 ↗ filed May 15, 2024
Holdings Value
Holdings 49 stocks · $340.9M
| CRTO Criteo SA-Spon | 4.74% | 460,451 | $16.1M | Add +1.4% |
| FIP Ftai Infrastructure Inc. | 4.61% | 2,501,230 | $15.7M | Add +1.2% |
| TDW Tidewater Inc. | 4.54% | 168,417 | $15.5M | Add +1.4% |
| ENVA Enova International Inc. | 4.34% | 235,336 | $14.8M | Add +1.3% |
| ARCB Arcbest Corp. | 4.31% | 103,213 | $14.7M | Add +1.4% |
| TBBK The Bancorp Inc. | 4.11% | 419,160 | $14.0M | Add +1.2% |
| EHC Encompass Health Corp. | 3.51% | 144,772 | $12.0M | Add +1.2% |
| GTX Garrett Motion Inc. | 3.40% | 1,167,699 | $11.6M | Add +110.9% |
| GLRE Greenlight Capital Re Ltd. Class A | 3.30% | 902,155 | $11.2M | Add +1.2% |
| TRS Trimas Corp. | 3.28% | 418,828 | $11.2M | Add +1.4% |
| IDT Idt Corp. Class B | 3.17% | 285,626 | $10.8M | Add +1.1% |
| TRN Trinity Industries Inc. | 3.13% | 382,958 | $10.7M | Add +1.3% |
| ACA Arcosa Inc. | 2.98% | 118,346 | $10.2M | Add +1.2% |
| FTAI Ftai Aviation Ltd. | 2.98% | 150,978 | $10.2M | Reduce -52.0% |
| VSTO Vista Outdoor Inc. | 2.89% | 300,126 | $9.8M | New |
| CASH Pathward Financial Inc. | 2.81% | 190,003 | $9.6M | Add +1.4% |
| RVLV Revolve Group Inc. Class A | 2.73% | 439,984 | $9.3M | Add +1.3% |
| GSM Ferroglobe PLC | 2.72% | 1,864,707 | $9.3M | Add +79.1% |
| ETNB 89BIO Inc. | 2.56% | 749,350 | $8.7M | Add +1.4% |
| AX Axos Financial Inc. | 2.50% | 157,540 | $8.5M | Reduce -49.7% |
| SUM Summit Materials Inc. Class A | 2.43% | 185,758 | $8.3M | New |
| DBRG Digitalbridge Group Inc. | 2.41% | 426,669 | $8.2M | Add +1.3% |
| MWA Mueller Water Products Inc. Class A | 2.39% | 506,019 | $8.1M | Add +1.3% |
| HBM Hudbay Minerals Inc. | 2.35% | 1,142,377 | $8.0M | Add +69.8% |
| FBRT Franklin BSP Realty Trust Inc. | 2.31% | 589,083 | $7.9M | Add +1.2% |
| BANC Banc of California Inc. | 2.30% | 514,867 | $7.8M | Add +1.1% |
| OABI Omniab Inc. | 2.18% | 1,373,498 | $7.4M | Add +1.1% |
| CENT Central Garden & Pet Co. | 2.15% | 171,289 | $7.3M | Add +1.3% |
| EHAB Enhabit Inc. | 2.08% | 607,891 | $7.1M | Add +1.3% |
| SHYF The Shyft Group Inc. | 2.03% | 555,992 | $6.9M | Add +1.3% |
| HRTX Heron Therapeutics Inc. | 1.85% | 2,271,883 | $6.3M | Add +1.3% |
| NODK Ni Holdings Inc. filed as NI HLDGS INC | 1.52% | 343,183 | $5.2M | Add +1.7% |
| NTLA Intellia Therapeutics Inc. | 1.39% | 172,316 | $4.7M | Add +1.4% |
| CNTY Century Casinos Inc. | 1.22% | 1,316,475 | $4.2M | Add +1.3% |
| BSM Black Stone Minerals LP | 0.92% | 195,381 | $3.1M | Add +2.2% |
| VBNK Versabank | 0.61% | 195,985 | $2.1M | Reduce -40.7% |
| CENTA Central Garden and Pet Co. Class A | 0.46% | 42,819 | $1.6M | New |
| FELE Franklin Electric Co. Inc. | 0.13% | 4,242 | $453K | No change |
| AZZ Azz Inc. | 0.11% | 4,651 | $360K | No change |
| PBPB Potbelly Corp. | 0.07% | 20,888 | $253K | No change |
| AWI Armstrong World Industries | 0.07% | 1,816 | $226K | New |
| FSTR Foster (lb) Co. Class A | 0.07% | 8,215 | $224K | New |
| CF CF Industries Holdings Inc. filed as CF INDS HLDGS INC | 0.07% | 2,666 | $222K | No change |
| LECO Lincoln Electric Holdings | 0.06% | 855 | $218K | New |
| SXT Sensient Technologies Corp. | 0.06% | 3,021 | $209K | New |
| PYPL PayPal Holdings Inc. | 0.06% | 3,060 | $205K | New |
| AKBA Akebia Therapeutics Inc. | 0.06% | 108,460 | $198K | Add +24.9% |
| RIG Transocean Ltd. | 0.03% | 17,240 | $108K | No change |
| PHLT Performant Healthcare Inc. | 0.02% | 20,000 | $59K | No change |
Portfolio Sells Q4 2023 → Q1 2024
| LIONS GATE ENTMNT CORP | Sold out | 0.00% | −3.11 |
| AX Axos Financial Inc. | Reduce -49.7% | 2.50% | −2.86 |
| SMP Standard Motor Prods | Sold out | 0.00% | −2.74 |
| STHO Star Holdings | Sold out | 0.00% | −2.18 |
| FTAI Ftai Aviation Ltd. | Reduce -52.0% | 2.98% | −1.59 |
| VBNK Versabank | Reduce -40.7% | 0.61% | −0.52 |
| FOXF Fox Factory Holding Corp. | Sold out | 0.00% | −0.07 |
Portfolio Buys Q4 2023 → Q1 2024
| VSTO Vista Outdoor Inc. | New | 2.89% | +2.89 |
| SUM Summit Materials Inc. Class A | New | 2.43% | +2.43 |
| GTX Garrett Motion Inc. | Add +110.9% | 3.40% | +1.73 |
| FIP Ftai Infrastructure Inc. | Add +1.2% | 4.61% | +1.60 |
| HBM Hudbay Minerals Inc. | Add +69.8% | 2.35% | +1.18 |
| CRTO Criteo SA-Spon | Add +1.4% | 4.74% | +1.14 |
| TDW Tidewater Inc. | Add +1.4% | 4.54% | +0.79 |
| HRTX Heron Therapeutics Inc. | Add +1.3% | 1.85% | +0.65 |
| GSM Ferroglobe PLC | Add +79.1% | 2.72% | +0.60 |
| EHC Encompass Health Corp. | Add +1.2% | 3.51% | +0.52 |
| ARCB Arcbest Corp. | Add +1.4% | 4.31% | +0.48 |
| RVLV Revolve Group Inc. Class A | Add +1.3% | 2.73% | +0.48 |
| CENTA Central Garden and Pet Co. Class A | New | 0.46% | +0.46 |
| ENVA Enova International Inc. | Add +1.3% | 4.34% | +0.31 |
| BANC Banc of California Inc. | Add +1.1% | 2.30% | +0.16 |
| NODK Ni Holdings Inc. | Add +1.7% | 1.52% | +0.15 |
| IDT Idt Corp. Class B | Add +1.1% | 3.17% | +0.15 |
| MWA Mueller Water Products Inc. Class A | Add +1.3% | 2.39% | +0.14 |
| EHAB Enhabit Inc. | Add +1.3% | 2.08% | +0.13 |
| GLRE Greenlight Capital Re Ltd. Class A | Add +1.2% | 3.30% | +0.11 |
| DBRG Digitalbridge Group Inc. | Add +1.3% | 2.41% | +0.10 |
| AWI Armstrong World Industries | New | 0.07% | +0.07 |
| FSTR Foster (lb) Co. Class A | New | 0.07% | +0.07 |
| LECO Lincoln Electric Holdings | New | 0.06% | +0.06 |
| SXT Sensient Technologies Corp. | New | 0.06% | +0.06 |
| PYPL PayPal Holdings Inc. | New | 0.06% | +0.06 |
| AKBA Akebia Therapeutics Inc. | Add +24.9% | 0.06% | +0.02 |
| TRS Trimas Corp. | Add +1.4% | 3.28% | +0.01 |
| TRN Trinity Industries Inc. | Add +1.3% | 3.13% | −0.02 |
| ETNB 89BIO Inc. | Add +1.4% | 2.56% | −0.03 |
| BSM Black Stone Minerals LP | Add +2.2% | 0.92% | −0.04 |
| ACA Arcosa Inc. | Add +1.2% | 2.98% | −0.05 |
| SHYF The Shyft Group Inc. | Add +1.3% | 2.03% | −0.07 |
| FBRT Franklin BSP Realty Trust Inc. | Add +1.2% | 2.31% | −0.15 |
| NTLA Intellia Therapeutics Inc. | Add +1.4% | 1.39% | −0.23 |
| CASH Pathward Financial Inc. | Add +1.4% | 2.81% | −0.29 |
| OABI Omniab Inc. | Add +1.1% | 2.18% | −0.44 |
| CENT Central Garden & Pet Co. | Add +1.3% | 2.15% | −0.50 |
| CNTY Century Casinos Inc. | Add +1.3% | 1.22% | −0.77 |
| TBBK The Bancorp Inc. | Add +1.2% | 4.11% | −0.89 |
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 43 | $91.2M | TBBK, GDOT, ENVA, RIOT, DCO |
| Q1 2026 | 45 | $76.4M | TBBK, FIP, TDW, ACA, DCO |
| Q4 2025 | 44 | $115.2M | SPY, TBBK, HBM, FIP, ACA |
| Q3 2025 | 43 | $75.8M | TBBK, HBM, FIP, AX, ACA |
| Q2 2025 | 39 | $90.4M | SPY, TBBK, FIP, HBM, GLRE |
| Q1 2025 | 40 | $146.2M | TBBK, ENVA, CASH, CRTO, FIP |
| Q4 2024 | 57 | $253.7M | ENVA, TBBK, CRTO, FTAI INFRASTRUCTURE INC COMMON STOCK, REVOLVE GROUP INC CL A |
| Q3 2024 | 57 | $290.6M | TBBK, FTAI INFRASTRUCTURE INC COMMON STOCK, ENVA, CRTO, TRN |
| Q2 2024 | 43 | $331.0M | FIP, CRTO, TDW, TBBK, FTAI |
| Q1 2024 | 49 | $340.9M | CRTO, FIP, TDW, ENVA, ARCB |