Orchard Capital Management, LLC

Q3 2025 13F-HR Holdings

Location
Chicago, IL
Holdings as of
9/30/2025
Date filed
11/12/2025
Form type
13F-HR
Num holdings
44
Total value ($000)
$115,726
Net value change ($000)
+25,297 (28.0%)
New positions
6
Sold out positions
2
Turnover %
42.0%
Sector allocation + QoQ delta (equities-only)
Prev filing: 8/13/2025 Next filing: 2/12/2026 SEC filing

Snapshot: Change Analysis

Compared to Q2 2025
Methodology: sector metrics are equities-only; instrument mix chart is ex-options; options exposure is shown separately. Why this matters.
Top Adds (Value $000, Stocks/ETFs)
HBM 2,274 52.2%
TBBK 2,182 31.5%
AEBI 1,887 NEW
MTUS 1,498 NEW
RIOT 1,190 NEW
89bio, Inc. 1,054 54.2%
TRN 806 61.1%
NTLA 666 89.6%
BANC 500 20.7%
GSM 482 28.0%
Top Reduces (Value $000, Stocks/ETFs)
SPY -24,714 -100.0%
SHYF -1,768 -100.0%
FIP -1,227 -25.9%
GTX -1,047 -33.3%
HRTX -513 -37.6%
GLRE -321 -9.4%
NOA -199 -8.4%
TLN -148 -17.8%
ARCB -129 -6.4%
AESI -114 -12.2%
Instrument mix + QoQ Δ (ex-options)
Derivatives reported exposure ($000): 39,971 (34.5% of total reported value)
How this table is calculated: SEC VALUE ($000) is used as reported. For derivatives (PUT/CALL/WARRANT/RIGHT), SEC value represents reported underlying exposure, not premium cash paid/received. Column % is bucket-based: non-options share is calculated inside non-option total, options share is calculated inside options total. Details.
Filter:
Instrument:
Issuer Name Ticker Sector Industry Class History Value ($000) % Shares Shares Δ Shares Δ% Value Δ ($000) Value Δ% Principal Option Type