Orchard Capital Management 13F annual report

Orchard Capital Management is an investment fund managing more than $331 billion ran by Blake Harper. There are currently 43 companies in Mr. Harper’s portfolio. The largest investments include Ftai Infrastructure Inc Common Stock and Criteo S A Spons Ads, together worth $38.5 billion.

Limited to 30 biggest holdings

$331 billion Assets Under Management (AUM)

As of 6th August 2024, Orchard Capital Management’s top holding is 2,471,786 shares of Ftai Infrastructure Inc Common Stock currently worth over $21.3 billion and making up 6.4% of the portfolio value. In addition, the fund holds 453,896 shares of Criteo S A Spons Ads worth $17.1 billion. The third-largest holding is Tidewater Inc New Com worth $15.8 billion and the next is Bancorp Inc Del Com worth $15.6 billion, with 414,301 shares owned.

Currently, Orchard Capital Management's portfolio is worth at least $331 billion. The total portfolio value may be much higher due to cash assets that are not publicly disclosed such as fixed income, real estate, or cash equivalents.

Careers at Orchard Capital Management

The Orchard Capital Management office and employees reside in Chicago, Illinois. According to the last 13-F report filed with the SEC, Blake Harper serves as the Managing Member at Orchard Capital Management.

Recent trades

In the most recent 13F filing, Orchard Capital Management revealed that it had opened a new position in Vista Outdoor Inc and bought 296,330 shares worth $11.2 billion. This means they effectively own approximately 0.1% of the company. Vista Outdoor Inc makes up 35.4% of the fund's Consumer Discretionary sector allocation and has decreased its share price by approximately 0.1% in the past year.

The investment fund also strengthened its position in Ftai Infrastructure Inc Common Stock by buying 164,023 additional shares. This makes their stake in Ftai Infrastructure Inc Common Stock total 2,471,786 shares worth $21.3 billion.

On the other hand, there are companies that Orchard Capital Management is getting rid of from its portfolio. Orchard Capital Management closed its position in Lions Gate Entmnt Corp Cl A Vtg on 13th August 2024. It sold the previously owned 863,133 shares for $7.32 billion. Blake Harper also disclosed a decreased stake in Ftai Aviation Ltd Shs by 0.5%. This leaves the value of the investment at $15 billion and 145,260 shares.

One of the smaller hedge funds

The two most similar investment funds to Orchard Capital Management are Watchman and Globe Life Inc. They manage $331 billion and $331 billion respectively.


Blake Harper investment strategy

Orchard Capital Management’s portfolio is diversified across 7 sectors. Currently, their heaviest sector is Finance — making up 11.4% of the total portfolio value. The fund focuses on investments in the United States as 30.2% of the portfolio companies are based in the United States.

The majority of the companies in the fund’s portfolio are small-cap stocks. Stocks with a size of more than $100 million in market cap make up 2% of the total holdings value. On the other hand, large-cap stocks make up only approximately 0.1% of the portfolio. The average market cap of the portfolio companies is close to $1.15 billion.

The complete list of Orchard Capital Management trades based on 13F SEC filings

These positions were updated on August 13th based on the fund’s latest 13F filing. Quickly find out what the most recently closed or increased positions are.

Security Shares Owned Value Allocation
Ftai Infrastructure Inc Common Stock
7.11%
2,471,786
$21,331,513,000 6.44%
Criteo S A Spons Ads
3.25%
453,896
$17,120,957,000 5.17%
Tidewater Inc New Com
23.11%
166,146
$15,818,761,000 4.78%
Bancorp Inc Del Com
4.76%
414,301
$15,644,006,000 4.73%
Ftai Aviation Ltd Shs
51.81%
145,260
$14,995,190,000 4.53%
Enova Intl Inc Com
30.02%
232,326
$14,462,294,000 4.37%
Encompass Health Corp Com
5.64%
143,105
$12,276,978,000 3.71%
Greenlight Capital Re Ltd
No change
891,366
$11,676,895,000 3.53%
Trinity Inds Inc Com
5.48%
378,148
$11,314,188,000 3.42%
Vista Outdoor Inc
Opened
296,330
$11,156,825,000 3.37%
Arcbest Corp Com
5.52%
101,820
$10,902,886,000 3.29%
Pathward Financial Inc
5.55%
187,463
$10,604,782,000 3.20%
Trimas Corp Com New
5.56%
413,128
$10,559,552,000 3.19%
Hudbay Minerals Inc.
Opened
1,126,332
$10,193,305,000 3.08%
IDT Corp.
5.40%
282,466
$10,146,179,000 3.07%
Garrett Motion Inc
119.31%
1,151,474
$9,891,162,000 2.99%
Ferroglobe Plc Shs
Opened
1,839,787
$9,861,258,000 2.98%
Arcosa Inc
4.70%
116,953
$9,755,050,000 2.95%
Mueller Wtr Prods Inc Com Ser A
26.26%
499,462
$8,950,359,000 2.70%
Axos Financial Inc.
47.75%
155,519
$8,887,911,000 2.68%
Heron Therapeutics Inc
4.69%
2,243,426
$7,851,991,000 2.37%
Franklin Bsp Rlty Tr Inc Common Stock
5.49%
582,132
$7,334,863,000 2.22%
Lions Gate Entmnt Corp Cl A Vtg
Closed
863,133
$7,319,368,000
Compass Minerals Intl Inc Com
Closed
256,989
$7,182,843,000
Standard Mtr Prods Inc Com
Closed
207,974
$6,992,086,000
Revolve Group Inc
5.48%
434,189
$6,907,947,000 2.09%
Summit Matls Inc Cl A
5.64%
183,214
$6,707,465,000 2.03%
Central Garden & Pet Co Com
5.56%
169,107
$6,510,620,000 1.97%
Banc of California Inc
Opened
509,181
$6,507,333,000 1.97%
The Shyft Group, Inc.
5.51%
548,643
$6,506,906,000 1.97%
Enhabit, Inc.
Closed
568,421
$6,394,736,000
89bio Inc
36.16%
739,208
$5,921,056,000 1.79%
Digitalbridge Group Inc Cl A New
3.89%
421,060
$5,768,522,000 1.74%
Pacwest Bancorp Del Com
Closed
700,616
$5,541,873,000
Ni Hldgs Inc Com
0.92%
337,437
$5,162,786,000 1.56%
Omniab Inc Com
6.08%
1,358,028
$5,092,605,000 1.54%
Intellia Therapeutics Inc
6.82%
170,006
$3,804,734,000 1.15%
Century Casinos Inc.
6.56%
1,299,865
$3,600,626,000 1.09%
Black Stone Minerals L P Com Unit
No change
191,156
$2,995,415,000 0.90%
Versabank New Com
42.86%
188,192
$2,033,353,000 0.61%
Central Garden & Pet Co Cl A Non-vtg
Opened
42,274
$1,396,310,000 0.42%
Franklin Elec Inc Com
No change
4,242
$408,589,000 0.12%
AZZ Inc
No change
4,651
$359,290,000 0.11%
Fox Factory Hldg Corp Com
Closed
3,220
$319,038,000
Cf Inds Hldgs Inc Com
Closed
2,666
$228,583,000
Armstrong World Inds Inc New Com
Opened
1,816
$205,644,000 0.06%
Potbelly Corp Com
35.58%
20,888
$167,731,000 0.05%
Transocean Ltd Registered Shs
Opened
17,240
$92,234,000 0.03%
Akebia Therapeutics Inc.
29.93%
86,826
$88,563,000 0.03%
Pfsweb Inc Com New
Closed
10,000
$74,400,000
Performant Finl Corp Com
No change
20,000
$58,000,000 0.02%
Commscope Hldg Co Inc Com
Closed
10,000
$33,600,000
No transactions found
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