Orchard Capital Management, LLC

Q4 2025 13F-HR Holdings

Location
Chicago, IL
Holdings as of
12/31/2025
Date filed
2/12/2026
Form type
13F-HR
Num holdings
44
Total value ($000)
$115,219
Net value change ($000)
-507 (-0.4%)
New positions
5
Sold out positions
4
Turnover %
40.4%
Sector allocation + QoQ delta (equities-only)
Prev filing: 11/12/2025 Next filing: — SEC filing

Snapshot: Change Analysis

Compared to Q3 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)
SPY 40,915 NEW
UAMY 1,529 NEW
GSM 959 43.5%
ENVA 937 38.2%
RVLV 870 44.4%
GTX 573 27.4%
BANC 518 17.8%
ACA 488 15.5%
TFIN 472 27.6%
FIP 253 7.2%
Top Reduces (Value $000, Stocks/ETFs)
89bio, Inc. -3,000 -100.0%
TBBK -1,955 -21.4%
GLRE -1,084 -34.9%
HBM -962 -14.5%
NTLA -672 -47.7%
PBPB -356 -100.0%
GRBK -222 -100.0%
PHLT -155 -100.0%
AWI -150 -42.1%
AESI -124 -15.1%
Instrument mix + QoQ Δ (ex-options)
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.
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Instrument:
Issuer Name Ticker Sector Industry Class History Value ($000) % Shares Shares Δ Shares Δ% Value Δ ($000) Value Δ% Principal Option Type