Tieton Capital Management, LLC
Long book
$298.6M
Q1 2026
Positions
35
Top-10 weight
46%
concentration
Last quarter
+18.2%
SPY +14.8%
Turnover
11%
of book per quarter
Strategy in plain words
auto-generated from filingsTieton Capital Management, LLC is a diversified fundamental manager, running a $298.6M US long book across 35 positions.
The portfolio is moderately concentrated (top 10 ≈ 46% of the book). Turnover is modest: positions are typically held for years. Current anchor positions: CUSTOMERS BANCORP INC, AVIAT NETWORKS INC, ENOVA INTERNATIONAL INC, EL POLLO LOCO HOLDINGS INC, AMERICAN COASTAL INSURANCE C.
Over the last 9 quarters its long book ran on average 1.1pp per quarter ahead of the S&P 500, beating the index in 6 of 9 quarters. We rate its filings as signal-bearing: position changes reflect genuine views.
Implied long-book return vs S&P 500
methodology: positions priced quarterly, no shorts/options Fund long book S&P 500
Q1 2024
-5.7%
Q2 2024
+10.5%
Q3 2024
+5.6%
Q4 2024
-6.6%
Q1 2025
+21.6%
Q2 2025
+8.1%
Q3 2025
+0.1%
Q4 2025
-1.8%
Q1 2026
+18.2%
Sector allocation
Financials 32%
Services media 17%
Consumer discretionary 14%
Technology 14%
Other 11%
Energy 6%
Materials 3%
Healthcare 3%
Long book by quarter
What does Tieton Capital own?
Q1 2026 13F| Company | Sector | Shares | Value | % of book | Change |
|---|---|---|---|---|---|
| CUBI CUSTOMERS BANCORP INC | Financials | 261.7K | $18.2M | 6.1% | -9.6% |
| AVNW AVIAT NETWORKS INC | Technology | 684.3K | $15.5M | 5.2% | +3.4% |
| ENVA ENOVA INTERNATIONAL INC | Financials | 113.0K | $15.4M | 5.1% | +5.0% |
| LOCO EL POLLO LOCO HOLDINGS INC | Consumer discretionary | 1.1M | $14.7M | 4.9% | +24.0% |
| ACIC AMERICAN COASTAL INSURANCE C | Financials | 1.3M | $14.3M | 4.8% | +4.5% |
| ADTN ADTRAN HOLDINGS INC | Technology | 1.0M | $13.0M | 4.4% | +4.7% |
| NPKI NPK INTERNATIONAL INC | Services media | 835.9K | $12.1M | 4.1% | +4.4% |
| EGY VAALCO ENERGY INC | Energy | 1.9M | $11.9M | 4.0% | +4.7% |
| NBBK NB BANCORP INC | Financials | 553.6K | $11.7M | 3.9% | +5.5% |
| TCBI TEXAS CAPITAL BANCSHARES INC | Financials | 117.5K | $11.2M | 3.7% | +5.0% |
| GEOS GEOSPACE TECHNOLOGIES CORP | Other | 912.1K | $11.1M | 3.7% | +3.2% |
| CLMB CLIMB GLOBAL SOLUTIONS INC | Consumer discretionary | 538.1K | $10.7M | 3.6% | +380.5% |
| VPG VISHAY PRECISION GROUP | Technology | 239.2K | $10.4M | 3.5% | -23.1% |
| RM REGIONAL MANAGEMENT CORP | Financials | 320.2K | $10.3M | 3.5% | +5.1% |
| CMT CORE MOLDING TECHNOLOGIES IN | Other | 459.9K | $10.3M | 3.5% | +4.4% |
| MYE MYERS INDUSTRIES INC | Other | 471.3K | $10.0M | 3.3% | +4.4% |
| DHX DHI GROUP INC | Services media | 3.4M | $9.5M | 3.2% | +10.9% |
| RGP RESOURCES CONNECTION INC | Services media | 2.5M | $9.1M | 3.1% | +8.6% |
| NAGE NIAGEN BIOSCIENCE INC | Materials | 2.0M | $8.9M | 3.0% | +23.3% |
| MFIN MEDALLION FINANCIAL CORP | Financials | 1.0M | $8.8M | 3.0% | +5.3% |
| HRMY HARMONY BIOSCIENCES HOLDINGS | Healthcare | 311.5K | $8.7M | 2.9% | +4.9% |
| MGPI MGP INGREDIENTS INC | Consumer discretionary | 426.9K | $7.9M | 2.6% | +73.0% |
| BBSI BARRETT BUSINESS SVCS INC | Services media | 263.8K | $7.7M | 2.6% | +4.9% |
| SM SM ENERGY CO | Energy | 189.3K | $5.9M | 2.0% | New |
| ZUMZ ZUMIEZ INC | Consumer discretionary | 260.5K | $5.8M | 1.9% | +2.3% |
| MYFW FIRST WESTERN FINANCIAL INC | Financials | 190.1K | $4.7M | 1.6% | +3.5% |
| BGSF BGSF INC | Services media | 631.0K | $4.1M | 1.4% | +2.4% |
| FLNT FLUENT INC | Services media | 1.2M | $3.7M | 1.2% | +8.3% |
| FORR FORRESTER RESEARCH INC | Services media | 559.0K | $3.2M | 1.1% | +3.8% |
| DLTH DULUTH HOLDINGS INC - CL B | Consumer discretionary | 747.1K | $2.4M | 0.8% | +2.7% |
| OESX ORION ENERGY SYSTEMS INC | Industrials | 266.5K | $2.3M | 0.8% | +4.0% |
| KTCC KEY TRONIC CORP | Technology | 758.7K | $2.1M | 0.7% | +4.2% |
| EML EASTERN CO/THE | Industrials | 76.0K | $1.5M | 0.5% | New |
| SLNG STABILIS SOLUTIONS INC | Utilities | 224.5K | $1.0M | 0.3% | +9.7% |
| PRIM PRIMORIS SERVICES CORP | Industrials | 4.4K | $624K | 0.2% | -0.8% |
13F filing history
| Period | Form | Filed | Entries | Reported value | Flags | Source |
|---|---|---|---|---|---|---|
| Q1 2026 | 13F-HR | May 8, 2026 | 35 | $298.57B | $K fixed canonical | SEC ↗ |
| Q4 2025 | 13F-HR | Feb 10, 2026 | 35 | $288.08B | $K fixed canonical | SEC ↗ |
| Q3 2025 | 13F-HR | Nov 12, 2025 | 33 | $288.08B | $K fixed canonical | SEC ↗ |
| Q2 2025 | 13F-HR | Aug 12, 2025 | 34 | $255.9M | $K fixed canonical | SEC ↗ |
| Q1 2025 | 13F-HR | May 12, 2025 | 34 | $218.7M | $K fixed canonical | SEC ↗ |
| Q4 2024 | 13F-HR | Feb 11, 2025 | 40 | $248.7M | $K fixed canonical | SEC ↗ |
| Q3 2024 | 13F-HR | Nov 12, 2024 | 40 | $193.1M | $K fixed canonical | SEC ↗ |
| Q2 2024 | 13F-HR | Aug 9, 2024 | 39 | $180.0M | $K fixed canonical | SEC ↗ |
| Q1 2024 | 13F-HR | May 10, 2024 | 38 | $190.8M | $K fixed canonical | SEC ↗ |
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