Tieton Capital Management, LLC
In its 13F for Q1 2025 (holdings as of March 31, 2025, filed May 12, 2025), Tieton Capital Management, LLC reported 34 stock positions worth $218.7 million. Its top holding was Customers Bancorp (CUBI) at 6.5% of the portfolio, followed by American Coastal Insurance C (ACIC, 6.3%) and Niagen Bioscience (NAGE, 6.3%). Compared with Q4 2024, it opened 1 new position, sold out of 7, added to 4 and reduced 29. The biggest buy was a new position in El Pollo Loco (LOCO) and the biggest sale Shutterstock (SSTK, shares −17%).
- Most Recent 13F
- Q2 2026
- Location
- YAKIMA, WA
- CIK
- 0001381954
- Portfolio Value
- $218.7M (Q1 2025)
- SEC Filing
- 0001381954-25-000002 ↗ filed May 12, 2025
Holdings Value
Holdings 34 stocks · $218.7M
| CUBI Customers Bancorp Inc. | 6.51% | 283,543 | $14.2M | Reduce -2.4% |
| ACIC American Coastal Insurance C | 6.34% | 1,198,435 | $13.9M | Reduce -2.4% |
| NAGE Niagen Bioscience Inc. | 6.26% | 1,986,040 | $13.7M | Reduce -23.3% |
| AVNW Aviat Networks Inc. | 5.62% | 641,780 | $12.3M | Reduce -1.3% |
| ENVA Enova International Inc. | 4.70% | 106,490 | $10.3M | Reduce -19.8% |
| BBSI Barrett Business SVCS Inc. | 4.61% | 245,233 | $10.1M | Reduce -2.5% |
| MFIN Medallion Financial Corp. | 3.85% | 966,468 | $8.4M | Reduce -2.1% |
| ADTN Adtran Holdings Inc. | 3.83% | 960,739 | $8.4M | Reduce -19.4% |
| TCBI Texas Capital Bancshares Inc. | 3.75% | 109,715 | $8.2M | Reduce -2.5% |
| VBTX Veritex Holdings Inc. | 3.63% | 317,633 | $7.9M | Reduce -2.4% |
| RM Regional Management Corp. | 3.42% | 248,701 | $7.5M | Reduce -2.6% |
| VPG Vishay Precision Group | 3.34% | 303,334 | $7.3M | Add +24.9% |
| CIVI Civitas Resources Inc. | 3.04% | 190,567 | $6.6M | Reduce -2.2% |
| EGY Vaalco Energy Inc. | 3.04% | 1,766,943 | $6.6M | Reduce -2.1% |
| CLMB Climb Global Solutions Inc. | 3.01% | 59,405 | $6.6M | Reduce -2.9% |
| CMT Core Molding Technologies Inc. | 2.94% | 423,506 | $6.4M | Add +21.1% |
| MPAA Motorcar Parts of America Inc. | 2.91% | 670,697 | $6.4M | Reduce -43.8% |
| GEOS Geospace Technologies Corp. | 2.85% | 863,402 | $6.2M | Reduce -2.2% |
| RGP Resources Connection Inc. | 2.80% | 936,403 | $6.1M | Add +13.8% |
| NPKI NPK International Inc. | 2.63% | 990,085 | $5.8M | Reduce -2.3% |
| LOCO El Pollo Loco Holdings Inc. | 2.43% | 515,140 | $5.3M | New |
| MYE Myers Industries Inc. | 2.36% | 433,590 | $5.2M | Add +42.5% |
| GES Guess? Inc. | 2.29% | 452,486 | $5.0M | Reduce -2.4% |
| SSTK Shutterstock Inc. | 1.99% | 234,215 | $4.4M | Reduce -17.4% |
| PRIM Primoris Services Corp. | 1.90% | 72,570 | $4.2M | Reduce -2.0% |
| DHX Dhi Group Inc. | 1.86% | 2,930,034 | $4.1M | Reduce -2.6% |
| ZUMZ Zumiez Inc. | 1.71% | 250,600 | $3.7M | Reduce -2.3% |
| MYFW First Western Financial Inc. | 1.62% | 180,576 | $3.5M | Reduce -2.2% |
| FLNT Fluent Inc. | 1.04% | 1,041,091 | $2.3M | Reduce -2.0% |
| BGSF BGSF Inc. | 1.03% | 610,708 | $2.2M | Reduce -2.0% |
| KTCC Key Tronic Corp. | 0.86% | 725,418 | $1.9M | Reduce -3.2% |
| OESX Orion Energy Systems Inc. | 0.82% | 2,502,423 | $1.8M | Reduce -6.0% |
| DLTH Duluth Holdings Inc. Class B | 0.57% | 711,605 | $1.2M | Reduce -1.9% |
| SLNG Stabilis Solutions Inc. | 0.44% | 199,231 | $966K | Reduce -4.2% |
Portfolio Sells Q4 2024 → Q1 2025
| SSTK Shutterstock Inc. | Reduce -17.4% | 1.99% | −1.47 |
| MPAA Motorcar Parts of America Inc. | Reduce -43.8% | 2.91% | −0.74 |
| GEOS Geospace Technologies Corp. | Reduce -2.2% | 2.85% | −0.71 |
| CIVI Civitas Resources Inc. | Reduce -2.2% | 3.04% | −0.55 |
| NPKI NPK International Inc. | Reduce -2.3% | 2.63% | −0.49 |
| ENVA Enova International Inc. | Reduce -19.8% | 4.70% | −0.42 |
| KTCC Key Tronic Corp. | Reduce -3.2% | 0.86% | −0.40 |
| PRIM Primoris Services Corp. | Reduce -2.0% | 1.90% | −0.37 |
| DLTH Duluth Holdings Inc. Class B | Reduce -1.9% | 0.57% | −0.34 |
| GES Guess? Inc. | Reduce -2.4% | 2.29% | −0.33 |
| ACIC American Coastal Insurance C | Reduce -2.4% | 6.34% | −0.30 |
| NATR Natures Sunshine Prods Inc. | Sold out | 0.00% | −0.29 |
| BGSF BGSF Inc. | Reduce -2.0% | 1.03% | −0.29 |
| DHX Dhi Group Inc. | Reduce -2.6% | 1.86% | −0.28 |
| ZUMZ Zumiez Inc. | Reduce -2.3% | 1.71% | −0.27 |
| AMZN Amazon.com Inc. | Sold out | 0.00% | −0.18 |
| ADTN Adtran Holdings Inc. | Reduce -19.4% | 3.83% | −0.16 |
| EGY Vaalco Energy Inc. | Reduce -2.1% | 3.04% | −0.13 |
| CECO Ceco Environmental Corp. | Sold out | 0.00% | −0.12 |
| CLMB Climb Global Solutions Inc. | Reduce -2.9% | 3.01% | −0.11 |
| GS Goldman Sachs Group Inc. | Sold out | 0.00% | −0.09 |
| HNHAF Hon Hai Precision Industry | Sold out | 0.00% | −0.07 |
| RM Regional Management Corp. | Reduce -2.6% | 3.42% | −0.06 |
| RYCEY Rolls-Royce Holdings-SP ADR | Sold out | 0.00% | −0.06 |
| FLNT Fluent Inc. | Reduce -2.0% | 1.04% | −0.04 |
| OESX Orion Energy Systems Inc. | Reduce -6.0% | 0.82% | −0.03 |
| NOK Nokia Corp.-Spon ADR | Sold out | 0.00% | −0.02 |
| SLNG Stabilis Solutions Inc. | Reduce -4.2% | 0.44% | −0.01 |
| VBTX Veritex Holdings Inc. | Reduce -2.4% | 3.63% | +0.07 |
| MFIN Medallion Financial Corp. | Reduce -2.1% | 3.85% | +0.12 |
| MYFW First Western Financial Inc. | Reduce -2.2% | 1.62% | +0.17 |
| TCBI Texas Capital Bancshares Inc. | Reduce -2.5% | 3.75% | +0.21 |
| BBSI Barrett Business SVCS Inc. | Reduce -2.5% | 4.61% | +0.22 |
| NAGE Niagen Bioscience Inc. | Reduce -23.3% | 6.26% | +0.74 |
| CUBI Customers Bancorp Inc. | Reduce -2.4% | 6.51% | +0.82 |
| AVNW Aviat Networks Inc. | Reduce -1.3% | 5.62% | +0.89 |
Portfolio Buys Q4 2024 → Q1 2025
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 |