Tieton Capital Management, LLC
In its 13F for Q2 2024 (holdings as of June 30, 2024, filed August 9, 2024), Tieton Capital Management, LLC reported 39 stock positions worth $180.0 million. Its top holding was Customers Bancorp (CUBI) at 6.3% of the portfolio, followed by Civitas Resources (CIVI, 6.1%) and American Coastal Insurance C (ACIC, 5.9%). Compared with Q1 2024, it opened 2 new positions, sold out of 1, added to 12 and reduced 21. The biggest buy was a new position in Shutterstock (SSTK) and the biggest sale Ceco Environmental (CECO, shares −95%).
- Most Recent 13F
- Q2 2026
- Location
- YAKIMA, WA
- CIK
- 0001381954
- Portfolio Value
- $180.0M (Q2 2024)
- SEC Filing
- 0001381954-24-000010 ↗ filed Aug 9, 2024
Holdings Value
Holdings 39 stocks · $180.0M
| CUBI Customers Bancorp Inc. | 6.31% | 236,953 | $11.4M | Reduce -1.3% |
| CIVI Civitas Resources Inc. | 6.08% | 158,727 | $11.0M | Reduce -1.6% |
| ACIC American Coastal Insurance C | 5.87% | 1,000,921 | $10.6M | Reduce -1.4% |
| ENVA Enova International Inc. | 5.60% | 162,023 | $10.1M | Reduce -1.7% |
| EGY Vaalco Energy Inc. | 5.12% | 1,471,404 | $9.2M | Reduce -1.6% |
| NAGE Niagen Bioscience Inc. filed as CHROMADEX CORP | 4.50% | 2,968,060 | $8.1M | Reduce -1.8% |
| CLMB Climb Global Solutions Inc. | 4.30% | 123,135 | $7.7M | Reduce -0.9% |
| NPKI NPK International Inc. filed as NEWPARK RES INC | 3.82% | 826,545 | $6.9M | Reduce -1.3% |
| BBSI Barrett Business SVCS Inc. | 3.73% | 204,791 | $6.7M | Reduce -2.0% |
| PRIM Primoris Services Corp. | 3.61% | 130,445 | $6.5M | Reduce -32.1% |
| GEOS Geospace Technologies Corp. | 3.61% | 723,307 | $6.5M | Reduce -1.9% |
| MFIN Medallion Financial Corp. | 3.44% | 805,281 | $6.2M | Reduce -1.0% |
| MPAA Motorcar Parts of America Inc. | 3.36% | 979,046 | $6.0M | Reduce -0.1% |
| RM Regional Management Corp. | 3.31% | 207,390 | $6.0M | Add +94.1% |
| TCBI Texas Capital Bancshares Inc. | 3.12% | 91,740 | $5.6M | Reduce -1.6% |
| VBTX Veritex Holdings Inc. | 3.10% | 264,638 | $5.6M | Reduce -2.5% |
| SSTK Shutterstock Inc. | 2.95% | 137,455 | $5.3M | New |
| DHX Dhi Group Inc. | 2.83% | 2,441,485 | $5.1M | Add +25.1% |
| ADTN Adtran Holdings Inc. | 2.83% | 967,884 | $5.1M | Add +0.2% |
| GES Guess? Inc. | 2.69% | 237,846 | $4.9M | Reduce -1.6% |
| RGP Resources Connection Inc. | 2.47% | 403,250 | $4.5M | New |
| BGSF BGSF Inc. | 2.38% | 500,095 | $4.3M | Add +15.9% |
| ZUMZ Zumiez Inc. | 2.27% | 209,640 | $4.1M | Add +1.6% |
| FLNT Fluent Inc. | 1.70% | 848,698 | $3.1M | Add +16.1% |
| CMT Core Molding Technologies Inc. | 1.57% | 177,521 | $2.8M | Add +151.9% |
| MYFW First Western Financial Inc. | 1.43% | 151,405 | $2.6M | Add +0.2% |
| KTCC Key Tronic Corp. | 1.39% | 619,023 | $2.5M | Reduce -1.0% |
| MYE Myers Industries Inc. | 1.39% | 186,925 | $2.5M | Add +1.3% |
| OESX Orion Energy Systems Inc. | 1.35% | 2,186,931 | $2.4M | Add +2.5% |
| DLTH Duluth Holdings Inc. Class B | 1.21% | 592,720 | $2.2M | Reduce -2.3% |
| VPG Vishay Precision Group | 0.78% | 46,271 | $1.4M | Reduce -1.9% |
| BMTX BM Technologies Inc. | 0.61% | 488,890 | $1.1M | Add +0.1% |
| SLNG Stabilis Solutions Inc. | 0.36% | 167,925 | $647K | Add +2.3% |
| NATR Natures Sunshine Prods Inc. | 0.33% | 39,702 | $598K | Reduce -5.8% |
| AMZN Amazon.com Inc. | 0.21% | 2,000 | $386K | No change |
| CECO Ceco Environmental Corp. | 0.17% | 10,333 | $298K | Reduce -95.4% |
| HNHAF Hon Hai Precision Industry filed as HNHAF | 0.11% | 29,200 | $192K | No change |
| RYCEY Rolls-Royce Holdings-SP ADR | 0.06% | 19,765 | $113K | No change |
| NOK Nokia Corp.-Spon ADR | 0.02% | 10,000 | $38K | No change |
Portfolio Sells Q1 2024 → Q2 2024
| CECO Ceco Environmental Corp. | Reduce -95.4% | 0.17% | −2.52 |
| NMIH Nmi Holdings Inc. | Sold out | 0.00% | −1.60 |
| GEOS Geospace Technologies Corp. | Reduce -1.9% | 3.61% | −1.49 |
| GES Guess? Inc. | Reduce -1.6% | 2.69% | −1.29 |
| NAGE Niagen Bioscience Inc. | Reduce -1.8% | 4.50% | −1.01 |
| MPAA Motorcar Parts of America Inc. | Reduce -0.1% | 3.36% | −0.77 |
| PRIM Primoris Services Corp. | Reduce -32.1% | 3.61% | −0.67 |
| CUBI Customers Bancorp Inc. | Reduce -1.3% | 6.31% | −0.37 |
| DLTH Duluth Holdings Inc. Class B | Reduce -2.3% | 1.21% | −0.34 |
| EGY Vaalco Energy Inc. | Reduce -1.6% | 5.12% | −0.34 |
| CIVI Civitas Resources Inc. | Reduce -1.6% | 6.08% | −0.34 |
| CLMB Climb Global Solutions Inc. | Reduce -0.9% | 4.30% | −0.32 |
| KTCC Key Tronic Corp. | Reduce -1.0% | 1.39% | −0.13 |
| NATR Natures Sunshine Prods Inc. | Reduce -5.8% | 0.33% | −0.13 |
| VPG Vishay Precision Group | Reduce -1.9% | 0.78% | −0.09 |
| MFIN Medallion Financial Corp. | Reduce -1.0% | 3.44% | +0.06 |
| TCBI Texas Capital Bancshares Inc. | Reduce -1.6% | 3.12% | +0.11 |
| ENVA Enova International Inc. | Reduce -1.7% | 5.60% | +0.17 |
| ACIC American Coastal Insurance C | Reduce -1.4% | 5.87% | +0.18 |
| VBTX Veritex Holdings Inc. | Reduce -2.5% | 3.10% | +0.19 |
| BBSI Barrett Business SVCS Inc. | Reduce -2.0% | 3.73% | +0.26 |
| NPKI NPK International Inc. | Reduce -1.3% | 3.82% | +0.65 |
Portfolio Buys Q1 2024 → Q2 2024
| SSTK Shutterstock Inc. | New | 2.95% | +2.95 |
| RGP Resources Connection Inc. | New | 2.47% | +2.47 |
| RM Regional Management Corp. | Add +94.1% | 3.31% | +1.95 |
| CMT Core Molding Technologies Inc. | Add +151.9% | 1.57% | +0.87 |
| ZUMZ Zumiez Inc. | Add +1.6% | 2.27% | +0.63 |
| FLNT Fluent Inc. | Add +16.1% | 1.70% | +0.57 |
| OESX Orion Energy Systems Inc. | Add +2.5% | 1.35% | +0.38 |
| MYFW First Western Financial Inc. | Add +0.2% | 1.43% | +0.27 |
| DHX Dhi Group Inc. | Add +25.1% | 2.83% | +0.23 |
| BMTX BM Technologies Inc. | Add +0.1% | 0.61% | +0.19 |
| ADTN Adtran Holdings Inc. | Add +0.2% | 2.83% | +0.07 |
| BGSF BGSF Inc. | Add +15.9% | 2.38% | +0.02 |
| SLNG Stabilis Solutions Inc. | Add +2.3% | 0.36% | −0.00 |
| MYE Myers Industries Inc. | Add +1.3% | 1.39% | −0.85 |
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 |