Instuitional Investor - Orchard Capital Managment, Llc

13F Holdings

Filing Period:

No.	Security	Ticker	Shares	Value	% Port
1.	Spdr S & P 500 Etf TrustPUT	SPY	30,000	$19,510,200	20.35%
2.	Bancorp Inc.	TBBK	120,856	$6,493,593	6.77%
3.	Ftai Infrastructure Inc.	FIP	815,038	$4,026,288	4.2%
4.	Tidewater Inc	TDW	48,166	$4,024,269	4.2%
5.	Arcosa Inc.	ACA	34,150	$3,624,681	3.78%