Orchard Capital Managment, LLC

RIA/Wealth • Value

Orchard Capital Managment, LLC is a Value-focused institution based in Chicago, IL led by Blake Elliott Harper, reporting $321.9M in AUM as of Q3 2025 with 34% Financial Services concentration and 53% concentrated in top 10 holdings.

Managing PartnerBlake Elliott Harper

Portfolio Value: $75.8M
Positions: 43
Top Holding: TBBK at 12.03%
Last Reported: Q3 2025

Address400 N. Michigan Avenue, #560, Chicago, IL, 60611, United States

Top Holdings

Largest long holdings in Orchard Capital Managment, LLC's portfolio (52.8% of total portfolio)

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Holding	Sector	Position	Weight	Traded	Ownership	Owned Since
1 The Bancorp TBBK	Banks - Regional Financial Services	$9.1M	12.03%	—	0.26% 121.7K shares	Q4 2020 Held for 4y 11m
2 Hudbay Minerals HBM	Copper Basic Materials	$6.6M	8.76%	+$404.8K Bought	0.11% 437.5K shares	Q4 2023 Held for 1y 11m
3 FTAI Infrastructure Inc. FIP	Conglomerates Industrials	$3.5M	4.63%	+$161.3K Bought	0.70% 803.8K shares	Q3 2022 Held for 3y 2m
4 Axos Financial AX	Banks - Regional Financial Services	$3.3M	4.36%	+$97.6K Bought	0.07% 39.0K shares	Q4 2020 Held for 4y 11m
5 Arcosa ACA	Industrial - Infrastructure Operations Industrials	$3.1M	4.15%	+$87.0K Bought	0.07% 33.5K shares	Q4 2020 Held for 4y 11m
6 Greenlight Capital RE, Ltd. GLRE	Insurance - Reinsurance Financial Services	$3.1M	4.11%	+$77.4K Bought	0.72% 244.9K shares	Q4 2020 Held for 4y 11m
7 89bio, Inc. ETNB	Biotechnology Healthcare	$3.0M	3.96%	+$88.1K Bought	0.14% 204.1K shares	Q2 2021 Held for 4y 5m
8 Banc of California BANC	Banks - Regional Financial Services	$2.9M	3.85%	+$71.4K Bought	0.11% 176.0K shares	Q4 2023 Held for 1y 11m
9 Ducommun DCO	Aerospace & Defense Industrials	$2.7M	3.59%	+$88.7K Bought	0.19% 28.3K shares	Q4 2024 Held for 11 months
10 Tidewater TDW	Oil & Gas Equipment & Services Energy	$2.5M	3.33%	+$73.6K Bought	0.10% 47.3K shares	Q2 2023 Held for 2y 5m

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Changes

Portfolio activity, position movements, and quarter-over-quarter changes in Orchard Capital Managment, LLC's latest filing

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Market Value

$75.8M

Prior: $90.4M

Q/Q Change

-16.23%

-$14.7M

Net Flows % of MV

-28.03%

Turnover Ratio

24.4%

New Purchases

5 stocks

$5.1M

Added To

25 stocks

+$2.6M

Sold Out Of

2 stocks

$26.5M

Reduced Holdings

2 stocks

-$2.5M

Increased Positions

Position	Shares Δ	Change
1 Aebi Schmidt Holding AG Common Stock AEBI	New	0 → 151.3K +$1.9M
2 Metallus MTUS	New	0 → 90.6K +$1.5M
3 Riot Platforms, Inc. RIOT	New	0 → 62.5K +$1.2M
4 Idaho Strategic Resources IDR	New	0 → 10.0K +$336.4K
5 Solaris Energy Infrastructure SEI	New	0 → 5.8K +$229.8K

Decreased Positions

Position	Shares Δ	Change
1 SPDR S&P 500 ETF Trust SPY	Sold	40.0K → 0 −$24.7M
2 The Shyft Group SHYF	Sold	141.0K → 0 −$1.8M
3 Garrett Motion Inc. GTX	-48.55%	298.7K → 153.7K −$2.0M
4 Talen Energy Corporation TLN	-43.83%	2.9K → 1.6K −$533.0K