Tieton Capital Management, LLC
In its 13F for Q4 2025 (holdings as of December 31, 2025, filed February 10, 2026), Tieton Capital Management, LLC reported 35 stock positions worth $292.4 million. Its top holding was Customers Bancorp (CUBI) at 7.2% of the portfolio, followed by Enova International (ENVA, 5.8%) and American Coastal Insurance C (ACIC, 5.3%). Compared with Q3 2025, it opened 3 new positions, sold out of 1, added to 6 and reduced 26. The biggest buy was a new position in NB Bancorp (NBBK) and the biggest sale Primoris Services (PRIM, shares −94%).
- Most Recent 13F
- Q2 2026
- Location
- YAKIMA, WA
- CIK
- 0001381954
- Portfolio Value
- $292.4M (Q4 2025)
- SEC Filing
- 0001381954-26-000001 ↗ filed Feb 10, 2026
Holdings Value
Holdings 35 stocks · $292.4M
| CUBI Customers Bancorp Inc. | 7.24% | 289,602 | $21.2M | Reduce -0.2% |
| ENVA Enova International Inc. | 5.79% | 107,644 | $16.9M | Reduce -0.6% |
| ACIC American Coastal Insurance C | 5.27% | 1,218,890 | $15.4M | Reduce -0.5% |
| GEOS Geospace Technologies Corp. | 5.11% | 884,176 | $15.0M | Reduce -0.5% |
| AVNW Aviat Networks Inc. | 4.84% | 661,518 | $14.1M | Reduce -0.2% |
| VPG Vishay Precision Group | 4.10% | 311,226 | $12.0M | Add +0.5% |
| RM Regional Management Corp. | 4.04% | 304,698 | $11.8M | Reduce -0.3% |
| CLMB Climb Global Solutions Inc. | 3.94% | 111,984 | $11.5M | Add +83.9% |
| RGP Resources Connection Inc. | 3.89% | 2,258,807 | $11.4M | Reduce -1.4% |
| HRMY Harmony Biosciences Holdings | 3.80% | 297,081 | $11.1M | Reduce -0.5% |
| NAGE Niagen Bioscience Inc. | 3.58% | 1,645,093 | $10.5M | Reduce -0.1% |
| NBBK NB Bancorp Inc. | 3.56% | 524,935 | $10.4M | New |
| TCBI Texas Capital Bancshares Inc. | 3.47% | 111,920 | $10.1M | Reduce -0.5% |
| MFIN Medallion Financial Corp. | 3.45% | 980,241 | $10.1M | Reduce -0.4% |
| NPKI NPK International Inc. | 3.26% | 800,562 | $9.5M | Reduce -21.0% |
| BBSI Barrett Business SVCS Inc. | 3.12% | 251,497 | $9.1M | Reduce -0.0% |
| LOCO El Pollo Loco Holdings Inc. | 3.05% | 852,584 | $8.9M | Reduce -0.1% |
| CMT Core Molding Technologies Inc. | 3.02% | 440,648 | $8.8M | Reduce -0.1% |
| ADTN Adtran Holdings Inc. | 2.94% | 988,379 | $8.6M | Reduce -0.1% |
| MYE Myers Industries Inc. | 2.89% | 451,262 | $8.4M | Reduce -0.0% |
| ZUMZ Zumiez Inc. | 2.27% | 254,513 | $6.6M | Reduce -0.9% |
| EGY Vaalco Energy Inc. | 2.24% | 1,798,643 | $6.5M | Reduce -0.5% |
| MGPI MGP Ingredients Inc. | 2.05% | 246,825 | $6.0M | New |
| CIVI Civitas Resources Inc. | 1.80% | 194,475 | $5.3M | Add +0.2% |
| MYFW First Western Financial Inc. | 1.68% | 183,611 | $4.9M | Add +0.9% |
| DHX Dhi Group Inc. | 1.61% | 3,042,649 | $4.7M | Add +1.0% |
| SSTK Shutterstock Inc. | 1.56% | 239,099 | $4.6M | Reduce -2.4% |
| FORR Forrester Research Inc. | 1.50% | 538,560 | $4.4M | New |
| OESX Orion Energy Systems Inc. | 1.35% | 256,194 | $3.9M | Add +0.6% |
| BGSF BGSF Inc. | 0.98% | 616,405 | $2.9M | Reduce -0.5% |
| FLNT Fluent Inc. | 0.89% | 1,083,283 | $2.6M | Reduce -0.1% |
| KTCC Key Tronic Corp. | 0.70% | 728,269 | $2.0M | Reduce -1.7% |
| DLTH Duluth Holdings Inc. Class B | 0.52% | 727,419 | $1.5M | Reduce -0.6% |
| SLNG Stabilis Solutions Inc. | 0.32% | 204,713 | $931K | Reduce -0.2% |
| PRIM Primoris Services Corp. | 0.19% | 4,400 | $546K | Reduce -93.8% |
Portfolio Sells Q3 2025 → Q4 2025
| PRIM Primoris Services Corp. | Reduce -93.8% | 0.19% | −3.21 |
| GES Guess? Inc. | Sold out | 0.00% | −2.65 |
| NAGE Niagen Bioscience Inc. | Reduce -0.1% | 3.58% | −1.75 |
| BBSI Barrett Business SVCS Inc. | Reduce -0.0% | 3.12% | −0.75 |
| GEOS Geospace Technologies Corp. | Reduce -0.5% | 5.11% | −0.73 |
| NPKI NPK International Inc. | Reduce -21.0% | 3.26% | −0.71 |
| BGSF BGSF Inc. | Reduce -0.5% | 0.98% | −0.55 |
| DLTH Duluth Holdings Inc. Class B | Reduce -0.6% | 0.52% | −0.48 |
| AVNW Aviat Networks Inc. | Reduce -0.2% | 4.84% | −0.44 |
| EGY Vaalco Energy Inc. | Reduce -0.5% | 2.24% | −0.28 |
| ADTN Adtran Holdings Inc. | Reduce -0.1% | 2.94% | −0.28 |
| KTCC Key Tronic Corp. | Reduce -1.7% | 0.70% | −0.22 |
| SSTK Shutterstock Inc. | Reduce -2.4% | 1.56% | −0.21 |
| CMT Core Molding Technologies Inc. | Reduce -0.1% | 3.02% | −0.12 |
| RGP Resources Connection Inc. | Reduce -1.4% | 3.89% | −0.12 |
| RM Regional Management Corp. | Reduce -0.3% | 4.04% | −0.09 |
| MFIN Medallion Financial Corp. | Reduce -0.4% | 3.45% | −0.00 |
| SLNG Stabilis Solutions Inc. | Reduce -0.2% | 0.32% | +0.01 |
| FLNT Fluent Inc. | Reduce -0.1% | 0.89% | +0.05 |
| TCBI Texas Capital Bancshares Inc. | Reduce -0.5% | 3.47% | +0.16 |
| LOCO El Pollo Loco Holdings Inc. | Reduce -0.1% | 3.05% | +0.18 |
| MYE Myers Industries Inc. | Reduce -0.0% | 2.89% | +0.24 |
| ACIC American Coastal Insurance C | Reduce -0.5% | 5.27% | +0.42 |
| ZUMZ Zumiez Inc. | Reduce -0.9% | 2.27% | +0.52 |
| CUBI Customers Bancorp Inc. | Reduce -0.2% | 7.24% | +0.66 |
| HRMY Harmony Biosciences Holdings | Reduce -0.5% | 3.80% | +0.95 |
| ENVA Enova International Inc. | Reduce -0.6% | 5.79% | +1.46 |
Portfolio Buys Q3 2025 → Q4 2025
| NBBK NB Bancorp Inc. | New | 3.56% | +3.56 |
| MGPI MGP Ingredients Inc. | New | 2.05% | +2.05 |
| FORR Forrester Research Inc. | New | 1.50% | +1.50 |
| CLMB Climb Global Solutions Inc. | Add +83.9% | 3.94% | +1.09 |
| VPG Vishay Precision Group | Add +0.5% | 4.10% | +0.65 |
| OESX Orion Energy Systems Inc. | Add +0.6% | 1.35% | +0.57 |
| MYFW First Western Financial Inc. | Add +0.9% | 1.68% | +0.23 |
| CIVI Civitas Resources Inc. | Add +0.2% | 1.80% | −0.39 |
| DHX Dhi Group Inc. | Add +1.0% | 1.61% | −1.29 |
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 |