Tieton Capital Management, LLC
In its 13F for Q1 2024 (holdings as of March 31, 2024, filed May 10, 2024), Tieton Capital Management, LLC reported 38 stock positions worth $190.8 million. Its top holding was Customers Bancorp (CUBI) at 6.7% of the portfolio, followed by Civitas Resources (CIVI, 6.4%) and American Coastal Insurance C (ACIC, 5.7%). Compared with Q4 2023, it opened 1 new position, added to 25 and reduced 8. The biggest buy was Niagen Bioscience (NAGE, shares +4%) and the biggest sale Nmi (NMIH, shares −57%).
- Most Recent 13F
- Q2 2026
- Location
- YAKIMA, WA
- CIK
- 0001381954
- Portfolio Value
- $190.8M (Q1 2024)
- SEC Filing
- 0001381954-24-000009 ↗ filed May 10, 2024
Holdings Value
Holdings 38 stocks · $190.8M
| CUBI Customers Bancorp Inc. | 6.68% | 240,153 | $12.7M | Add +0.6% |
| CIVI Civitas Resources Inc. | 6.42% | 161,322 | $12.2M | Add +0.6% |
| ACIC American Coastal Insurance C | 5.69% | 1,015,226 | $10.9M | Reduce -22.9% |
| NAGE Niagen Bioscience Inc. filed as CHROMADEX CORP | 5.51% | 3,021,875 | $10.5M | Add +3.7% |
| EGY Vaalco Energy Inc. | 5.47% | 1,495,819 | $10.4M | Add +0.5% |
| ENVA Enova International Inc. | 5.43% | 164,868 | $10.4M | Reduce -0.0% |
| GEOS Geospace Technologies Corp. | 5.10% | 736,992 | $9.7M | Add +0.6% |
| CLMB Climb Global Solutions Inc. | 4.62% | 124,249 | $8.8M | Add +0.7% |
| PRIM Primoris Services Corp. | 4.29% | 192,210 | $8.2M | Reduce -18.8% |
| MPAA Motorcar Parts of America Inc. | 4.13% | 979,496 | $7.9M | Reduce -0.1% |
| GES Guess? Inc. | 3.99% | 241,716 | $7.6M | Add +0.4% |
| BBSI Barrett Business SVCS Inc. | 3.47% | 52,247 | $6.6M | Add +0.6% |
| MFIN Medallion Financial Corp. | 3.37% | 813,490 | $6.4M | Add +0.4% |
| NPKI NPK International Inc. filed as NEWPARK RES INC | 3.17% | 837,005 | $6.0M | Add +0.4% |
| TCBI Texas Capital Bancshares Inc. | 3.01% | 93,265 | $5.7M | Add +0.5% |
| VBTX Veritex Holdings Inc. | 2.91% | 271,318 | $5.6M | Add +0.3% |
| ADTN Adtran Holdings Inc. | 2.76% | 966,369 | $5.3M | Add +581.8% |
| CECO Ceco Environmental Corp. | 2.69% | 222,774 | $5.1M | Reduce -21.1% |
| DHX Dhi Group Inc. | 2.61% | 1,951,450 | $5.0M | Add +32.5% |
| BGSF BGSF Inc. | 2.35% | 431,460 | $4.5M | Add +0.3% |
| MYE Myers Industries Inc. | 2.24% | 184,545 | $4.3M | Add +0.6% |
| ZUMZ Zumiez Inc. | 1.64% | 206,400 | $3.1M | Add +32.4% |
| NMIH Nmi Holdings Inc. filed as NMI HLDGS INC | 1.60% | 94,619 | $3.1M | Reduce -57.1% |
| DLTH Duluth Holdings Inc. Class B | 1.56% | 606,410 | $3.0M | Add +0.3% |
| KTCC Key Tronic Corp. | 1.53% | 625,031 | $2.9M | Add +0.6% |
| RM Regional Management Corp. | 1.36% | 106,830 | $2.6M | Add +0.8% |
| MYFW First Western Financial Inc. | 1.16% | 151,150 | $2.2M | Reduce -1.1% |
| FLNT Fluent Inc. | 1.13% | 4,387,995 | $2.2M | Add +1.4% |
| OESX Orion Energy Systems Inc. | 0.97% | 2,133,142 | $1.9M | Add +0.3% |
| VPG Vishay Precision Group | 0.87% | 47,154 | $1.7M | Add +1.9% |
| CMT Core Molding Technologies Inc. | 0.70% | 70,480 | $1.3M | New |
| NATR Natures Sunshine Prods Inc. | 0.46% | 42,127 | $875K | Reduce -56.7% |
| BMTX BM Technologies Inc. | 0.42% | 488,218 | $806K | Add +3.9% |
| SLNG Stabilis Solutions Inc. | 0.36% | 164,152 | $691K | Add +0.2% |
| AMZN Amazon.com Inc. | 0.19% | 2,000 | $361K | No change |
| HNHAF Hon Hai Precision Industry | 0.07% | 29,200 | $142K | No change |
| RYCEY Rolls-Royce Holdings-SP ADR | 0.06% | 19,765 | $106K | No change |
| NOK Nokia Corp.-Spon ADR | 0.02% | 10,000 | $35K | No change |
Portfolio Sells Q4 2023 → Q1 2024
| NMIH Nmi Holdings Inc. | Reduce -57.1% | 1.60% | −2.08 |
| ACIC American Coastal Insurance C | Reduce -22.9% | 5.69% | −1.33 |
| MPAA Motorcar Parts of America Inc. | Reduce -0.1% | 4.13% | −1.03 |
| MYFW First Western Financial Inc. | Reduce -1.1% | 1.16% | −0.55 |
| CECO Ceco Environmental Corp. | Reduce -21.1% | 2.69% | −0.54 |
| NATR Natures Sunshine Prods Inc. | Reduce -56.7% | 0.46% | −0.49 |
| PRIM Primoris Services Corp. | Reduce -18.8% | 4.29% | −0.14 |
| ENVA Enova International Inc. | Reduce -0.0% | 5.43% | +0.29 |
Portfolio Buys Q4 2023 → Q1 2024
| NAGE Niagen Bioscience Inc. | Add +3.7% | 5.51% | +3.17 |
| ADTN Adtran Holdings Inc. | Add +581.8% | 2.76% | +2.17 |
| EGY Vaalco Energy Inc. | Add +0.5% | 5.47% | +1.70 |
| GES Guess? Inc. | Add +0.4% | 3.99% | +0.86 |
| CLMB Climb Global Solutions Inc. | Add +0.7% | 4.62% | +0.81 |
| CMT Core Molding Technologies Inc. | New | 0.70% | +0.70 |
| DHX Dhi Group Inc. | Add +32.5% | 2.61% | +0.46 |
| CIVI Civitas Resources Inc. | Add +0.6% | 6.42% | +0.24 |
| MYE Myers Industries Inc. | Add +0.6% | 2.24% | +0.22 |
| BBSI Barrett Business SVCS Inc. | Add +0.6% | 3.47% | +0.08 |
| BGSF BGSF Inc. | Add +0.3% | 2.35% | +0.08 |
| NPKI NPK International Inc. | Add +0.4% | 3.17% | +0.05 |
| KTCC Key Tronic Corp. | Add +0.6% | 1.53% | +0.02 |
| VPG Vishay Precision Group | Add +1.9% | 0.87% | −0.01 |
| SLNG Stabilis Solutions Inc. | Add +0.2% | 0.36% | −0.02 |
| OESX Orion Energy Systems Inc. | Add +0.3% | 0.97% | −0.07 |
| BMTX BM Technologies Inc. | Add +3.9% | 0.42% | −0.12 |
| RM Regional Management Corp. | Add +0.8% | 1.36% | −0.14 |
| ZUMZ Zumiez Inc. | Add +32.4% | 1.64% | −0.14 |
| GEOS Geospace Technologies Corp. | Add +0.6% | 5.10% | −0.25 |
| DLTH Duluth Holdings Inc. Class B | Add +0.3% | 1.56% | −0.27 |
| TCBI Texas Capital Bancshares Inc. | Add +0.5% | 3.01% | −0.37 |
| FLNT Fluent Inc. | Add +1.4% | 1.13% | −0.50 |
| VBTX Veritex Holdings Inc. | Add +0.3% | 2.91% | −0.63 |
| CUBI Customers Bancorp Inc. | Add +0.6% | 6.68% | −1.07 |
| MFIN Medallion Financial Corp. | Add +0.4% | 3.37% | −1.12 |
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 37 | $347.8M | ENVA, CUBI, LOCO, MYE, CLMB |
| Q1 2026 | 35 | $298.6M | CUBI, AVNW, ENVA, LOCO, ACIC |
| Q4 2025 | 35 | $292.4M | CUBI, ENVA, ACIC, GEOS, AVNW |
| Q3 2025 | 33 | $288.1M | CUBI, GEOS, NAGE, AVNW, ACIC |
| Q2 2025 | 34 | $255.9M | NAGE, CUBI, AVNW, ACIC, GEOS |
| Q1 2025 | 34 | $218.7M | CUBI, ACIC, NAGE, AVNW, ENVA |
| Q4 2024 | 40 | $248.7M | ACIC, CUBI, NAGE, ENVA, AVNW |
| Q3 2024 | 40 | $193.1M | ACIC, ENVA, CUBI, NAGE, EGY |
| Q2 2024 | 39 | $180.0M | CUBI, CIVI, ACIC, ENVA, EGY |
| Q1 2024 | 38 | $190.8M | CUBI, CIVI, ACIC, NAGE, EGY |