CIK: 0001381954
Total reported value
$298.6M
Reporting period: 2026-03-31 · Number of holdings: 35
Tieton Capital Management, LLC disclosed 35 holdings in its latest 13F filing for the period ending 2026-03-31, with total reported value of $298.6M and a quarterly turnover rate of 115.3%.
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Tieton Capital Management, LLC's disclosed holdings carry a Herfindahl concentration index of 0.037 — mathematically equivalent to about 27 equally-sized positions, close to its 35 actual disclosed holdings. Value is spread relatively evenly across the portfolio rather than concentrated in a handful of names.
Position sizes are fairly uniform across the portfolio (a coefficient of variation of 0.54), suggesting a disciplined, rules-based approach to how much capital goes into each idea.
No strong tilt toward either adding to existing winners or initiating outsized new positions was observed in the latest reported quarter.
Sector classification currently covers about 11% of this portfolio's disclosed value; the remainder includes holdings (e.g. unmapped tickers, options, or other security types) not yet covered by our sector mapping.
Add LOCO
+24.0% $5.7M
Trim HRMY
+4.9% -$2.4M
Add NPKI
+4.4% $2.6M
Add MGPI
+73.0% $1.9M
Trim NAGE
+23.3% -$1.5M
Trim OESX
+4.0% -$1.6M
| # | Ticker | Issuer | Asset Subclass | Weight | Weight Change | Shares Change | 4Q Trend |
|---|---|---|---|---|---|---|---|
| 1 | CUBI | Customers Bancorp INC | Stock-Other | 6.09% | +6.08% | NEW | |
| 2 | AVNW | Aviat Networks INC | Stock-Other | 5.18% | +5.18% | NEW | |
| 3 | ENVA | Enova International INC | Stock-Financials | 5.14% | +5.14% | NEW | |
| 4 | LOCO | El Pollo Loco Holdings INC | Stock-Other | 4.91% | +1.86% | +24.03% | |
| 5 | ACIC | American Coastal Insurance C | Stock-Other | 4.80% | -0.47% | +4.48% | |
| 6 | ADTN | Adtran Holdings INC | Stock-Other | 4.36% | +4.36% | NEW | |
| 7 | NPKI | Npk International INC | Stock-Other | 4.06% | +0.80% | +4.42% | |
| 8 | EGY | Vaalco Energy INC | Stock-Other | 4.00% | +4.00% | NEW | |
| 9 | NBBK | Nb Bancorp INC | Stock-Other | 3.91% | +0.35% | +5.46% | |
| 10 | TCBI | Texas Capital Bancshares INC | Stock-Financials | 3.74% | +3.74% | NEW | |
| 11 | GEOS | Geospace Technologies CORP | Stock-Other | 3.73% | +3.73% | NEW | |
| 12 | CLMB | Climb Global Solutions INC | Stock-Other | 3.57% | — | +380.54% | |
| 13 | VPG | Vishay Precision Group | Stock-Other | 3.48% | +3.48% | NEW | |
| 14 | RM | Regional Management CORP | Stock-Other | 3.46% | +3.46% | NEW | |
| 15 | CMT | Core Molding Technologies In | Stock-Other | 3.45% | +0.43% | +4.37% | |
| 16 | MYE | Myers Industries INC | Stock-Other | 3.34% | +0.45% | +4.43% | |
| 17 | DHX | Dhi Group INC | Stock-Other | 3.18% | +3.18% | NEW | |
| 18 | RGP | Resources Connection INC | Stock-Other | 3.06% | +3.06% | NEW | |
| 19 | NAGE | Niagen Bioscience INC | Stock-Other | 3.00% | -0.58% | +23.35% | |
| 20 | MFIN | Medallion Financial CORP | Stock-Other | 2.96% | -0.49% | +5.31% | |
| 21 | HRMY | Harmony Biosciences Holdings | Stock-Other | 2.92% | -0.88% | +4.85% | |
| 22 | MGPI | Mgp Ingredients INC | Stock-Other | 2.63% | +0.58% | +72.98% | |
| 23 | BBSI | Barrett Business Svcs INC | Stock-Other | 2.58% | -0.54% | +4.88% | |
| 24 | SM | Sm Energy Co | Stock-Energy | 1.98% | +1.98% | NEW | |
| 25 | ZUMZ | Zumiez INC | Stock-Other | 1.93% | -0.34% | +2.34% | |
| 26 | MYFW | First Western Financial INC | Stock-Other | 1.57% | +1.57% | NEW | |
| 27 | BGSF | Bgsf INC | Stock-Other | 1.37% | +1.37% | NEW | |
| 28 | FLNT | Fluent INC | Stock-Other | 1.24% | +1.24% | NEW | |
| 29 | FORR | Forrester Research INC | Stock-Other | 1.06% | -0.44% | +3.80% | |
| 30 | DLTH | Duluth Holdings INC - Cl B | Stock-Other | 0.79% | +0.79% | NEW | |
| 31 | OESX | Orion Energy Systems INC | Stock-Other | 0.78% | -0.57% | +4.01% | |
| 32 | KTCC | Key Tronic CORP | Stock-Other | 0.69% | — | +4.18% | |
| 33 | EML | Eastern Co/the | Stock-Other | 0.51% | +0.51% | NEW | |
| 34 | SLNG | Stabilis Solutions INC | Stock-Other | 0.34% | +0.34% | NEW | |
| 35 | ✓ | Primoris Services Corp | Stock-Other | 0.21% | — | -0.80% |
Performance for Q3 2026
+5.3%
Performance Last 4 Quarters
+5.3%
Based on 63% of reported portfolio value with available pricing
| Period | Holdings | Total value | Stability | Top holdings |
|---|---|---|---|---|
| 2026-03-31 | 35 | $298.6M | 100 | |
| 2025-12-31 | 35 | $292.4M | 29 | |
| 2025-09-30 | 33 | $288.1M | 38 | |
| 2025-06-30 | 34 | $255.9M | 0 | |
| 2025-03-31 | 34 | $218.7M | 100 | |
| 2024-12-31 | 40 | $248.7M | 0 | |
| 2024-09-30 | 40 | $193.1M | 0 | |
| 2024-06-30 | 39 | $180.0M | 0 | |
| 2024-03-31 | 38 | $190.8M | 0 | |
| 2023-12-31 | 37 | $177.5M | 0 | |
| 2023-09-30 | 33 | $158.7M | 0 | |
| 2023-06-30 | 31 | $155.8M | 0 | |
| 2023-03-31 | 31 | $140.4M | 0 | |
| 2022-12-31 | 32 | $151.4M | 0 | |
| 2022-09-30 | 32 | $142.1M | 0 | |
| 2022-06-30 | 32 | $144.4M | 0 | |
| 2022-03-31 | 32 | $181.0M | 0 | |
| 2021-12-31 | 33 | $178.6M | 0 | |
| 2021-09-30 | 32 | $183.8M | 0 | |
| 2021-06-30 | 33 | $187.8M | 100 | |
| 2021-03-31 | 35 | $173.5M | 45 | |
| 2020-12-31 | 31 | $136.7M | 38 | |
| 2020-09-30 | 30 | $101.0M | 36 | |
| 2020-06-30 | 29 | $80.0M | 31 | |
| 2020-03-31 | 27 | $62.2M | 81 | |
| 2019-12-31 | 29 | $125.0M | 26 | |
| 2019-09-30 | 29 | $117.4M | 26 | |
| 2019-06-30 | 29 | $114.2M | 19 | |
| 2019-03-31 | 30 | $112.4M | 48 | |
| 2018-12-31 | 30 | $89.1M | 50 | |
| 2018-09-30 | 28 | $125.4M | 20 | |
| 2018-06-30 | 29 | $129.2M | 28 | |
| 2018-03-31 | 28 | $109.0M | 36 | |
| 2017-12-31 | 29 | $116.5M | 33 | |
| 2017-09-30 | 27 | $116.3M | 20 | |
| 2017-06-30 | 28 | $108.3M | 23 | |
| 2017-03-31 | 28 | $115.3M | 38 | |
| 2016-12-31 | 29 | $128.2M | 30 | |
| 2016-09-30 | 29 | $116.4M | 27 | |
| 2016-06-30 | 30 | $102.7M | 37 | |
| 2016-03-31 | 29 | $104.6M | 28 | |
| 2015-12-31 | 30 | $127.4M | 28 | |
| 2015-09-30 | 30 | $107.1M | 34 | |
| 2015-06-30 | 30 | $128.0M | 29 | |
| 2015-03-31 | 27 | $133.3M | 26 | |
| 2014-12-31 | 26 | $121.3M | 42 | |
| 2014-09-30 | 25 | $136.5M | 43 | |
| 2014-06-30 | 26 | $152.8M | 26 | |
| 2014-03-31 | 27 | $160.5M | 25 | |
| 2013-12-31 | 27 | $158.7M | 21 | |
| 2013-09-30 | 27 | $157.4M | 24 | |
| 2013-06-30 | 26 | $148.7M | — |
Tieton Capital Management, LLC's most significant position changes for 2026-03-31: Sold out: Customers Bancorp, Inc.; New buy: Customers Bancorp INC (CUBI); Sold out: ; New buy: Aviat Networks INC (AVNW); New buy: Enova International INC (ENVA).
| # | Ticker | Issuer | Weight Change | Shares Change | Action |
|---|---|---|---|---|---|
| 1 | LOCO | El Pollo Loco Holdings INC | +1.9% | +24.03% | Add |
| 2 | NPKI | Npk International INC | +0.8% | +4.42% | Add |
| 3 | MGPI | Mgp Ingredients INC | +0.6% | +72.98% | Add |
| 4 | MYE | Myers Industries INC | +0.5% | +4.43% | Add |
| 5 | CMT | Core Molding Technologies In | +0.4% | +4.37% | Add |
| 6 | NBBK | Nb Bancorp INC | +0.4% | +5.46% | Add |
| 7 | ZUMZ | Zumiez INC | -0.3% | +2.34% | Add |
| 8 | FORR | Forrester Research INC | -0.4% | +3.80% | Add |
| 9 | ACIC | American Coastal Insurance C | -0.5% | +4.48% | Add |
| 10 | MFIN | Medallion Financial CORP | -0.5% | +5.31% | Add |
| 11 | BBSI | Barrett Business Svcs INC | -0.5% | +4.88% | Add |
| 12 | OESX | Orion Energy Systems INC | -0.6% | +4.01% | Add |
| 13 | NAGE | Niagen Bioscience INC | -0.6% | +23.35% | Add |
| 14 | HRMY | Harmony Biosciences Holdings | -0.9% | +4.85% | Add |
| 15 | ✓ | Customers Bancorp, Inc. | — | EXIT | Sold out |
| 16 | CUBI | Customers Bancorp INC | — | NEW | New buy |
| 17 | ✓ | — | EXIT | Sold out | |
| 18 | AVNW | Aviat Networks INC | — | NEW | New buy |
| 19 | ENVA | Enova International INC | — | NEW | New buy |
| 20 | ✓ | Geospace Technologies | — | EXIT | Sold out |
| 21 | ✓ | Aviat Networks INC | — | EXIT | Sold out |
| 22 | ADTN | Adtran Holdings INC | — | NEW | New buy |
| 23 | ✓ | Vishay Precision Group | — | EXIT | Sold out |
| 24 | EGY | Vaalco Energy INC | — | NEW | New buy |
| 25 | ✓ | Regional Management | — | EXIT | Sold out |
| 26 | ✓ | Resources Connection | — | EXIT | Sold out |
| 27 | TCBI | Texas Capital Bancshares INC | — | NEW | New buy |
| 28 | GEOS | Geospace Technologies CORP | — | NEW | New buy |
| 29 | VPG | Vishay Precision Group | — | NEW | New buy |
| 30 | RM | Regional Management CORP | — | NEW | New buy |
| 31 | ✓ | — | EXIT | Sold out | |
| 32 | DHX | Dhi Group INC | — | NEW | New buy |
| 33 | RGP | Resources Connection INC | — | NEW | New buy |
| 34 | ✓ | ADTRAN Holdings | — | EXIT | Sold out |
| 35 | ✓ | Vaalco Energy | — | EXIT | Sold out |
| 36 | SM | Sm Energy Co | — | NEW | New buy |
| 37 | ✓ | Civitas Resources | — | EXIT | Sold out |
| 38 | ✓ | — | EXIT | Sold out | |
| 39 | ✓ | — | EXIT | Sold out | |
| 40 | MYFW | First Western Financial INC | — | NEW | New buy |
| 41 | SSTK | Shutterstock INC | — | EXIT | Sold out |
| 42 | BGSF | Bgsf INC | — | NEW | New buy |
| 43 | FLNT | Fluent INC | — | NEW | New buy |
| 44 | ✓ | Bgsf INC | — | EXIT | Sold out |
| 45 | ✓ | Fluent Inc | — | EXIT | Sold out |
| 46 | DLTH | Duluth Holdings INC - Cl B | — | NEW | New buy |
| 47 | EML | Eastern Co/the | — | NEW | New buy |
| 48 | ✓ | Duluth Holdings Inc | — | EXIT | Sold out |
| 49 | SLNG | Stabilis Solutions INC | — | NEW | New buy |
| 50 | ✓ | Stabilis Solutions INC | — | EXIT | Sold out |
| Period | Filed | Type | EDGAR |
|---|---|---|---|
| 2026-03-31 | 2026-05-08 | 13F-HR | View on EDGAR |
| 2025-12-31 | 2026-02-10 | 13F-HR | View on EDGAR |
| 2025-09-30 | 2025-11-12 | 13F-HR | View on EDGAR |
| 2025-06-30 | 2025-08-12 | 13F-HR | View on EDGAR |
| 2025-03-31 | 2025-05-12 | 13F-HR | View on EDGAR |
| 2024-12-31 | 2025-02-11 | 13F-HR | View on EDGAR |
| 2024-09-30 | 2024-11-12 | 13F-HR | View on EDGAR |
| 2024-06-30 | 2024-08-09 | 13F-HR | View on EDGAR |
| 2024-03-31 | 2024-05-10 | 13F-HR | View on EDGAR |
| 2023-12-31 | 2024-02-09 | 13F-HR | View on EDGAR |
| 2023-09-30 | 2023-11-01 | 13F-HR | View on EDGAR |
| 2023-06-30 | 2023-08-15 | 13F-HR | View on EDGAR |
| 2023-03-31 | 2023-05-10 | 13F-HR | View on EDGAR |
| 2022-12-31 | 2023-02-10 | 13F-HR | View on EDGAR |
| 2022-09-30 | 2022-11-14 | 13F-HR | View on EDGAR |
| 2022-06-30 | 2022-08-10 | 13F-HR | View on EDGAR |
| 2022-03-31 | 2022-05-10 | 13F-HR | View on EDGAR |
| 2021-12-31 | 2022-02-10 | 13F-HR | View on EDGAR |
| 2021-09-30 | 2021-11-10 | 13F-HR | View on EDGAR |
| 2021-06-30 | 2021-08-10 | 13F-HR | View on EDGAR |
| 2021-03-31 | 2021-05-10 | 13F-HR | View on EDGAR |
| 2020-12-31 | 2021-02-11 | 13F-HR | View on EDGAR |
| 2020-09-30 | 2020-11-12 | 13F-HR | View on EDGAR |
| 2020-06-30 | 2020-08-12 | 13F-HR | View on EDGAR |
| 2020-03-31 | 2020-05-11 | 13F-HR | View on EDGAR |
| 2019-12-31 | 2020-02-11 | 13F-HR | View on EDGAR |
| 2019-09-30 | 2019-11-12 | 13F-HR | View on EDGAR |
| 2019-06-30 | 2019-08-09 | 13F-HR | View on EDGAR |
| 2019-03-31 | 2019-05-10 | 13F-HR | View on EDGAR |
| 2018-12-31 | 2019-02-08 | 13F-HR | View on EDGAR |
| 2018-09-30 | 2018-11-09 | 13F-HR | View on EDGAR |
| 2018-06-30 | 2018-08-08 | 13F-HR | View on EDGAR |
| 2018-03-31 | 2018-05-10 | 13F-HR | View on EDGAR |
| 2017-12-31 | 2018-02-12 | 13F-HR | View on EDGAR |
| 2017-09-30 | 2017-11-09 | 13F-HR | View on EDGAR |
| 2017-06-30 | 2017-08-10 | 13F-HR | View on EDGAR |
| 2017-03-31 | 2017-05-10 | 13F-HR | View on EDGAR |
| 2016-12-31 | 2017-02-10 | 13F-HR | View on EDGAR |
| 2016-09-30 | 2016-11-10 | 13F-HR | View on EDGAR |
| 2016-06-30 | 2016-08-10 | 13F-HR | View on EDGAR |
| 2016-03-31 | 2016-05-11 | 13F-HR | View on EDGAR |
| 2015-12-31 | 2016-02-05 | 13F-HR | View on EDGAR |
| 2015-09-30 | 2015-11-13 | 13F-HR | View on EDGAR |
| 2015-06-30 | 2015-08-07 | 13F-HR | View on EDGAR |
| 2015-03-31 | 2015-05-06 | 13F-HR | View on EDGAR |
| 2014-12-31 | 2015-02-09 | 13F-HR | View on EDGAR |
| 2014-09-30 | 2014-11-13 | 13F-HR | View on EDGAR |
| 2014-06-30 | 2014-08-05 | 13F-HR | View on EDGAR |
| 2014-03-31 | 2014-05-12 | 13F-HR | View on EDGAR |
| 2013-12-31 | 2014-02-12 | 13F-HR | View on EDGAR |
| 2013-09-30 | 2013-11-13 | 13F-HR | View on EDGAR |
| 2013-06-30 | 2013-07-31 | 13F-HR | View on EDGAR |
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