Orchard Capital Management, LLC
Long book
$76.4M
Q1 2026
Positions
45
Top-10 weight
48%
concentration
Last quarter
+19.1%
SPY +14.8%
Turnover
15%
of book per quarter
Strategy in plain words
auto-generated from filingsOrchard Capital Management, LLC is a concentrated fundamental stock-picker, running a $76.4M US long book across 45 positions.
The portfolio is moderately concentrated (top 10 ≈ 48% of the book). Turnover is modest: positions are typically held for years. Current anchor positions: BANCORP INC/THE, FTAI INFRASTRUCTURE INC, TIDEWATER INC, ARCOSA INC, DUCOMMUN INC.
Over the last 9 quarters its long book ran on average 0.8pp per quarter ahead of the S&P 500, beating the index in 6 of 9 quarters. We rate its filings highest-signal: new buys here are worth attention.
Implied long-book return vs S&P 500
methodology: positions priced quarterly, no shorts/options Fund long book S&P 500
Q1 2024
+2.1%
Q2 2024
+9.1%
Q3 2024
+3.0%
Q4 2024
-8.8%
Q1 2025
+8.7%
Q2 2025
+9.4%
Q3 2025
+5.2%
Q4 2025
-0.1%
Q1 2026
+19.1%
Sector allocation
Industrials 41%
Financials 30%
Materials 9%
Other 8%
Energy 5%
Consumer discretionary 5%
Healthcare 1%
Utilities 0%
Long book by quarter
What does Orchard Capital own?
Q1 2026 13F| Company | Sector | Shares | Value | % of book | Change |
|---|---|---|---|---|---|
| TBBK BANCORP INC/THE | Financials | 120.9K | $6.5M | 8.5% | +13.9% |
| FIP FTAI INFRASTRUCTURE INC | Industrials | 815.0K | $4.0M | 5.3% | Held |
| TDW TIDEWATER INC | Industrials | 48.2K | $4.0M | 5.3% | Held |
| ACA ARCOSA INC | Industrials | 34.1K | $3.6M | 4.7% | Held |
| DCO DUCOMMUN INC | Industrials | 28.9K | $3.5M | 4.6% | Held |
| BANC BANC OF CALIFORNIA INC | Financials | 177.9K | $3.1M | 4.1% | Held |
| NOA NORTH AMERICAN CONSTRUCTION | Energy | 223.9K | $3.0M | 4.0% | +44.4% |
| ENVA ENOVA INTERNATIONAL INC | Financials | 21.6K | $2.9M | 3.8% | Held |
| GSM FERROGLOBE PLC | Materials | 681.7K | $2.8M | 3.7% | Held |
| GTX GARRETT MOTION INC | Industrials | 152.9K | $2.8M | 3.6% | Held |
| HBM HUDBAY MINERALS INC | Materials | 131.9K | $2.8M | 3.6% | -53.8% |
| ARCB ARCBEST CORP | Industrials | 27.6K | $2.7M | 3.5% | Held |
| UAMY UNITED STATES ANTIMONY CORP | Industrials | 304.6K | $2.7M | 3.5% | Held |
| TRN TRINITY INDUSTRIES INC | Industrials | 77.2K | $2.5M | 3.3% | Held |
| G8L GREENLIGHT CAPITAL RE LTD-A | — | 138.9K | $2.4M | 3.1% | Held |
| RIOT RIOT PLATFORMS INC | Financials | 187.9K | $2.3M | 3.0% | +88.5% |
| MTUS METALLUS INC | Industrials | 135.0K | $2.2M | 2.9% | +46.6% |
| TFIN TRIUMPH FINANCIAL INC | Financials | 34.8K | $2.1M | 2.7% | Held |
| AX AXOS FINANCIAL INC | Financials | 22.2K | $1.9M | 2.5% | -44.0% |
| CASH PATHWARD FINANCIAL INC | Financials | 20.9K | $1.9M | 2.4% | Held |
| CENT CENTRAL GARDEN & PET CO | Consumer discretionary | 44.4K | $1.6M | 2.1% | Held |
| MYE MYERS INDUSTRIES INC | Other | 74.6K | $1.6M | 2.1% | New |
| NODK NI HOLDINGS INC | Financials | 119.6K | $1.5M | 2.0% | Held |
| AEBI AEBI SCHMIDT HOLDING AG | Industrials | 154.4K | $1.5M | 2.0% | Held |
| UDM TASEKO MINES LTD | — | 223.3K | $1.4M | 1.9% | +1136.3% |
| RVLV REVOLVE GROUP INC | Consumer discretionary | 53.2K | $1.2M | 1.6% | -43.2% |
| NTLA INTELLIA THERAPEUTICS INC | Materials | 82.0K | $1.1M | 1.4% | Held |
| AESI ATLAS ENERGY SOLUTIONS INC | Energy | 74.2K | $974K | 1.3% | Held |
| HRTX HERON THERAPEUTICS INC | Healthcare | 680.4K | $544K | 0.7% | Held |
| AZZ AZZ INC | Industrials | 3.9K | $488K | 0.6% | Held |
| CENTA CENTRAL GARDEN AND PET CO-A | Consumer discretionary | 11.1K | $360K | 0.5% | Held |
| TLN TALEN ENERGY CORP | Utilities | 1.1K | $338K | 0.4% | -34.0% |
| SEI SOLARIS ENERGY INFRASTRUCTUR | Industrials | 5.8K | $325K | 0.4% | Held |
| IDR IDAHO STRATEGIC RESOURCES IN | Materials | 10.0K | $320K | 0.4% | Held |
| FELE FRANKLIN ELECTRIC CO INC | Industrials | 3.4K | $316K | 0.4% | Held |
| CASY CASEY'S GENERAL STORES INC | Consumer discretionary | 400 | $291K | 0.4% | Held |
| CF CF INDUSTRIES HOLDINGS INC | Other | 2.1K | $272K | 0.4% | New |
| WAB WABTEC CORP | Industrials | 912 | $228K | 0.3% | New |
| DBRG DIGITALBRIDGE GROUP INC | Financials | 13.9K | $214K | 0.3% | Held |
| FSTR FOSTER (LB) CO-A | Consumer discretionary | 7.4K | $206K | 0.3% | New |
| BOOM DMC GLOBAL INC | Industrials | 21.2K | $110K | 0.1% | Held |
| AKBA AKEBIA THERAPEUTICS INC | Healthcare | 53.5K | $74K | 0.1% | Held |
| RIG TRANSOCEAN LTD | Energy | 10.2K | $68K | 0.1% | Held |
13F filing history
| Period | Form | Filed | Entries | Reported value | Flags | Source |
|---|---|---|---|---|---|---|
| Q1 2026 | 13F-HR | May 13, 2026 | 46 | $95.9M | canonical | SEC ↗ |
| Q4 2025 | 13F-HR | Feb 12, 2026 | 44 | $115.2M | canonical | SEC ↗ |
| Q3 2025 | 13F-HR | Nov 12, 2025 | 44 | $115.7M | canonical | SEC ↗ |
| Q2 2025 | 13F-HR | Aug 13, 2025 | 39 | $90.4M | canonical | SEC ↗ |
| Q1 2025 | 13F-HR | May 15, 2025 | 40 | $146.2M | canonical | SEC ↗ |
| Q4 2024 | 13F-HR | Feb 14, 2025 | 75 | $253.7M | canonical | SEC ↗ |
| Q3 2024 | 13F-HR | Nov 13, 2024 | 76 | $290.6M | canonical | SEC ↗ |
| Q2 2024 | 13F-HR | Aug 13, 2024 | 43 | $331.0M | canonical | SEC ↗ |
| Q1 2024 | 13F-HR | May 15, 2024 | 49 | $340.9M | canonical | SEC ↗ |
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