Orchard Capital Management, LLC

Orchard Capital Management, LLC is an Illinois limited liability company established by Blake Harper, Joshua Fairbank, and Michael Valencia. The firm primarily offers separate account management services on a discretionary basis, managing client portfolios based on their investment objectives, risk tolerance, and financial circumstances. Clients have the option to provide investment restrictions in writing. The firm does not participate in wrap fee programs and had SEC regulatory assets under management of $321,870,000 as of December 31, 2024. Orchard Capital charges asset-based fees not exceeding 2.50% of managed assets, payable quarterly in advance. The firm may engage in short-term trading and option strategies, such as covered calls and long call or put options. Orchard Capital exercises investment discretion for client accounts, with reviews conducted daily and specific accounts reviewed at least monthly. The firm has custody of client assets for fee deduction and money movement purposes, with clients receiving quarterly performance reports and annual newsletters. Orchard Capital has a Proxy Voting Policy to ensure voting in the best interests of clients. The firm does not have any financial conditions impairing its ability to meet client commitments. No bankruptcy petitions have been filed in the past ten years.