Orchard Capital Management, LLC Long-Term Concentrated

Location: Chicago, IL

CIK: 0001858319 · Show all filings

Period: Q4 2025 (← Previous) (Next →)

Filing Date: Feb 12, 2026

Total Value: $115M (100.0% shares, 0.0% debt)

Holdings (44)

SPY SPDR S&P 500 ETF TR 35.5%

Value $40.92M Shares 60,000 Est. Cost $681.92 Unrealized —

TBBK BANCORP INC DEL 6.2%

Value $7.162M Shares 106,079 Est. Cost $13.06 Unrealized +428.2%

HBM HUDBAY MINERALS INC 4.9%

Value $5.671M Shares 285,674 Est. Cost $8.14 Unrealized +107.6%

FIP FTAI INFRASTRUCTURE INC 3.3%

Value $3.757M Shares 815,038 Est. Cost $5.72 Unrealized -14.1%

ACA ARCOSA INC 3.2%

Value $3.631M Shares 34,150 Est. Cost $55.05 Unrealized +83.3%

BANC BANC OF CALIFORNIA INC 3.0%

Value $3.431M Shares 177,885 Est. Cost $14.07 Unrealized +26.8%

AX AXOS FINANCIAL INC 3.0%

Value $3.418M Shares 39,674 Est. Cost $37.69 Unrealized +118.5%

ENVA ENOVA INTL INC 2.9%

Value $3.388M Shares 21,552 Est. Cost $31.29 Unrealized +316.0%

GSM FERROGLOBE PLC 2.7%

Value $3.163M Shares 681,745 Est. Cost $4.94 Unrealized -6.8%

RVLV REVOLVE GROUP INC 2.5%

Value $2.829M Shares 93,707 Est. Cost $27.47 Unrealized -12.1%

DCO DUCOMMUN INC DEL 2.4%

Value $2.75M Shares 28,907 Est. Cost $65.67 Unrealized +41.9%

GTX GARRETT MOTION INC 2.3%

Value $2.666M Shares 152,943 Est. Cost $8.63 Unrealized +84.4%

TDW TIDEWATER INC NEW 2.1%

Value $2.433M Shares 48,166 Est. Cost $49.94 Unrealized +5.8%

NOA NORTH AMERN CONSTR GROUP LTD 1.9%

Value $2.229M Shares 155,101 Est. Cost $18.36 Unrealized -22.5%

TFIN TRIUMPH FINANCIAL INC 1.9%

Value $2.181M Shares 34,821 Est. Cost $55.78 Unrealized +0.4%

ARCB ARCBEST CORP 1.8%

Value $2.045M Shares 27,564 Est. Cost $74.70 Unrealized -5.0%

TRN TRINITY INDS INC 1.8%

Value $2.042M Shares 77,244 Est. Cost $22.58 Unrealized +18.9%

GLRE GREENLIGHT CAPITAL RE LTD 1.8%

Value $2.026M Shares 138,927 Est. Cost $9.51 Unrealized +38.2%

AEBI AEBI SCHMIDT HLDG AG 1.7%

Value $1.954M Shares 154,431 Est. Cost $11.41 Unrealized +4.3%

FBRT FRANKLIN BSP RLTY TR INC 1.4%

Value $1.622M Shares 161,719 Est. Cost $12.72 Unrealized —

NODK NI HLDGS INC 1.4%

Value $1.591M Shares 119,629 Est. Cost $17.38 Unrealized -22.3%

MTUS METALLUS INC 1.4%

Value $1.58M Shares 92,092 Est. Cost $16.32 Unrealized +5.0%

UAMY UNITED STATES ANTIMONY CORP 1.3%

Value $1.529M Shares 304,623 Est. Cost $7.85 Unrealized 0.0%

CASH PATHWARD FINANCIAL INC 1.3%

Value $1.484M Shares 20,901 Est. Cost $36.69 Unrealized +95.3%

CENT CENTRAL GARDEN & PET CO 1.2%

Value $1.427M Shares 44,381 Est. Cost $33.93 Unrealized -5.9%

RIOT RIOT PLATFORMS INC 1.1%

Value $1.263M Shares 99,701 Est. Cost $15.06 Unrealized +13.6%

CRTO CRITEO S A 1.0%

Value $1.181M Shares 57,293 Est. Cost $24.34 Unrealized —

HRTX HERON THERAPEUTICS INC 0.8%

Value $885K Shares 680,432 Est. Cost $5.66 Unrealized -78.2%

NTLA INTELLIA THERAPEUTICS INC 0.6%

Value $737K Shares 82,030 Est. Cost $12.02 Unrealized +14.5%

AESI ATLAS ENERGY SOLUTIONS INC 0.6%

Value $699K Shares 74,249 Est. Cost $19.38 Unrealized -47.8%

TLN TALEN ENERGY CORP 0.5%

Value $602K Shares 1,606 Est. Cost $138.87 Unrealized +179.9%

AZZ AZZ INC 0.4%

Value $418K Shares 3,902 Est. Cost $37.35 Unrealized +176.9%

IDR IDAHO STRATEGIC RESOURCES 0.3%

Value $401K Shares 9,956 Est. Cost $23.61 Unrealized +61.9%

FELE FRANKLIN ELEC INC 0.3%

Value $327K Shares 3,427 Est. Cost $62.59 Unrealized +51.9%

CENTA CENTRAL GARDEN & PET CO 0.3%

Value $324K Shares 11,092 Est. Cost $31.82 Unrealized -9.1%

SEI SOLARIS ENERGY INFRAS INC 0.2%

Value $264K Shares 5,750 Est. Cost $31.12 Unrealized +55.2%

CASY CASEYS GEN STORES INC 0.2%

Value $221K Shares 400 Est. Cost $459.22 Unrealized +19.7%

DBRG DIGITALBRIDGE GROUP INC 0.2%

Value $213K Shares 13,862 Est. Cost $16.78 Unrealized -28.5%

AWI ARMSTRONG WORLD INDS INC NEW 0.2%

Value $206K Shares 1,079 Est. Cost $108.64 Unrealized +75.5%

LAND GLADSTONE LD CORP 0.2%

Value $180K Shares 19,695 Est. Cost $9.15 Unrealized —

BOOM DMC GLOBAL INC 0.1%

Value $142K Shares 21,152 Est. Cost $6.90 Unrealized 0.0%

TGB TASEKO MINES LTD 0.1%

Value $102K Shares 18,059 Est. Cost $4.70 Unrealized 0.0%

AKBA AKEBIA THERAPEUTICS INC 0.1%

Value $86,151 Shares 53,510 Est. Cost $2.43 Unrealized -13.9%

RIG TRANSOCEAN LTD 0.0%

Value $42,064 Shares 10,185 Est. Cost $6.69 Unrealized -42.0%

Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
SPY	SPDR S&P 500 ETF TR	60,000	$40.92M	35.5%	$681.92	—	TR UNIT	78462F103
TBBK	BANCORP INC DEL	106,079	$7.162M	6.2%	$13.06	+428.2%	COM	05969A105
HBM	HUDBAY MINERALS INC	285,674	$5.671M	4.9%	$8.14	+107.6%	COM	443628102
FIP	FTAI INFRASTRUCTURE INC	815,038	$3.757M	3.3%	$5.72	-14.1%	COMMON STOCK	35953C106
ACA	ARCOSA INC	34,150	$3.631M	3.2%	$55.05	+83.3%	COM	039653100
BANC	BANC OF CALIFORNIA INC	177,885	$3.431M	3.0%	$14.07	+26.8%	COM	05990K106
AX	AXOS FINANCIAL INC	39,674	$3.418M	3.0%	$37.69	+118.5%	COM	05465C100
ENVA	ENOVA INTL INC	21,552	$3.388M	2.9%	$31.29	+316.0%	COM	29357K103
GSM	FERROGLOBE PLC	681,745	$3.163M	2.7%	$4.94	-6.8%	SHS	G33856108
RVLV	REVOLVE GROUP INC	93,707	$2.829M	2.5%	$27.47	-12.1%	CL A	76156B107
DCO	DUCOMMUN INC DEL	28,907	$2.75M	2.4%	$65.67	+41.9%	COM	264147109
GTX	GARRETT MOTION INC	152,943	$2.666M	2.3%	$8.63	+84.4%	COM	366505105
TDW	TIDEWATER INC NEW	48,166	$2.433M	2.1%	$49.94	+5.8%	COM	88642R109
NOA	NORTH AMERN CONSTR GROUP LTD	155,101	$2.229M	1.9%	$18.36	-22.5%	COM	656811106
TFIN	TRIUMPH FINANCIAL INC	34,821	$2.181M	1.9%	$55.78	+0.4%	COM	89679E300
ARCB	ARCBEST CORP	27,564	$2.045M	1.8%	$74.70	-5.0%	COM	03937C105
TRN	TRINITY INDS INC	77,244	$2.042M	1.8%	$22.58	+18.9%	COM	896522109
GLRE	GREENLIGHT CAPITAL RE LTD	138,927	$2.026M	1.8%	$9.51	+38.2%	CLASS A	G4095J109
AEBI	AEBI SCHMIDT HLDG AG	154,431	$1.954M	1.7%	$11.41	+4.3%	COM	H00501108
FBRT	FRANKLIN BSP RLTY TR INC	161,719	$1.622M	1.4%	$12.72	—	COMMON STOCK	35243J101
NODK	NI HLDGS INC	119,629	$1.591M	1.4%	$17.38	-22.3%	COM	65342T106
MTUS	METALLUS INC	92,092	$1.58M	1.4%	$16.32	+5.0%	COM	887399103
UAMY	UNITED STATES ANTIMONY CORP	304,623	$1.529M	1.3%	$7.85	0.0%	COM	911549103
CASH	PATHWARD FINANCIAL INC	20,901	$1.484M	1.3%	$36.69	+95.3%	COM	59100U108
CENT	CENTRAL GARDEN & PET CO	44,381	$1.427M	1.2%	$33.93	-5.9%	COM	153527106
RIOT	RIOT PLATFORMS INC	99,701	$1.263M	1.1%	$15.06	+13.6%	COM	767292105
CRTO	CRITEO S A	57,293	$1.181M	1.0%	$24.34	—	SPONS ADS	226718104
HRTX	HERON THERAPEUTICS INC	680,432	$885K	0.8%	$5.66	-78.2%	COM	427746102
NTLA	INTELLIA THERAPEUTICS INC	82,030	$737K	0.6%	$12.02	+14.5%	COM	45826J105
AESI	ATLAS ENERGY SOLUTIONS INC	74,249	$699K	0.6%	$19.38	-47.8%	COM NEW	642045108
TLN	TALEN ENERGY CORP	1,606	$602K	0.5%	$138.87	+179.9%	COM	87422Q109
AZZ	AZZ INC	3,902	$418K	0.4%	$37.35	+176.9%	COM	002474104
IDR	IDAHO STRATEGIC RESOURCES	9,956	$401K	0.3%	$23.61	+61.9%	COM NEW	645827205
FELE	FRANKLIN ELEC INC	3,427	$327K	0.3%	$62.59	+51.9%	COM	353514102
CENTA	CENTRAL GARDEN & PET CO	11,092	$324K	0.3%	$31.82	-9.1%	CL A NON-VTG	153527205
SEI	SOLARIS ENERGY INFRAS INC	5,750	$264K	0.2%	$31.12	+55.2%	COM CL A	83418M103
CASY	CASEYS GEN STORES INC	400	$221K	0.2%	$459.22	+19.7%	COM	147528103
DBRG	DIGITALBRIDGE GROUP INC	13,862	$213K	0.2%	$16.78	-28.5%	CL A NEW	25401T603
AWI	ARMSTRONG WORLD INDS INC NEW	1,079	$206K	0.2%	$108.64	+75.5%	COM	04247X102
LAND	GLADSTONE LD CORP	19,695	$180K	0.2%	$9.15	—	COM	376549101
BOOM	DMC GLOBAL INC	21,152	$142K	0.1%	$6.90	0.0%	COM	23291C103
TGB	TASEKO MINES LTD	18,059	$102K	0.1%	$4.70	0.0%	COM	876511106
AKBA	AKEBIA THERAPEUTICS INC	53,510	$86,151	0.1%	$2.43	-13.9%	COM	00972D105
RIG	TRANSOCEAN LTD	10,185	$42,064	0.0%	$6.69	-42.0%	REGISTERED SHS	H8817H100