SEC 13F Intelligence

Managers / Q1 2026

Tieton Capital Management, LLC

CIK 0001381954 · 4700 TIETON DRIVE, SUITE C, YAKIMA, WA, 98908 · 509-965-6488

Reported Value
$299M
Q1 2026
Positions
35
Filings on Record
30
2019–present window
Filed
May 8, 2026
original filing

Summary

Tieton Capital Management, LLC reported $299M in U.S.-listed holdings across 35 positions for Q1 2026.

Its largest position, CUBI, represents 6.1% of the portfolio.

Compared with Q4 2025, the fund opened 18 new positions and exited 18.

Portfolio Metrics

Turnover
+56.6%
vs prior filed quarter
Top-10 Concentration
+46.2%
share of reported value
Largest Position
+6.1%
Customers Bancorp
New / Exited
18 / 18
positions this quarter

Methodology: turnover is min(value bought, value sold) ÷ average reported value across the two quarters — value-based, so market moves inflate it slightly versus a share-based measure. Concentration and largest position are shares of the filing’s total reported value, options excluded, with multiple share classes and repeated sub-manager rows for the same issuer combined into one position — the same rule the holdings table uses by default. New/exited counts compare against the prior filed quarter. All figures derive solely from the fund’s 13F filings.

Reported Value by Quarter

13F Reported Value
Q4 ’18: $89MQ4 ’18Q1 ’19: $112MQ2 ’19: $114MQ3 ’19: $117MQ4 ’19: $125MQ4 ’19Q1 ’20: $62MQ2 ’20: $80MQ3 ’20: $101MQ4 ’20: $137MQ4 ’20Q1 ’21: $174MQ2 ’21: $188MQ3 ’21: $184MQ4 ’21: $179MQ4 ’21Q1 ’22: $181MQ2 ’22: $144MQ3 ’22: $142MQ1 ’23: $140MQ1 ’23Q2 ’23: $156MQ3 ’23: $159MQ4 ’23: $178MQ1 ’24: $191MQ1 ’24Q2 ’24: $180MQ3 ’24: $193MQ4 ’24: $249MQ1 ’25: $219MQ1 ’25Q2 ’25: $256MQ3 ’25: $288MQ4 ’25: $292MQ1 ’26: $299MQ1 ’26filingsflow.com

Portfolio Composition

By security type
Common Stock: 99.8%Other: 0.2%
  • Common Stock · 99.8% · $298M
  • Other · 0.2% · $624,000

Quarter-over-Quarter Changes full breakdown →

vs Q4 2025 (amended baseline)

IssuerMoveShare ΔShares nowValue ΔValue now
CUBICustomers BancorpNEW+261.7K261.7K+$18M$18M
AVNWAviat NetworksNEW+684.3K684.3K+$15M$15M
ENVAEnova InternationalNEW+113.0K113.0K+$15M$15M
ADTNADTRAN HoldingsNEW+1.04M1.04M+$13M$13M
EGYVAALCO EnergyNEW+1.88M1.88M+$12M$12M
TCBITexas Capital BancshrsNEW+117.5K117.5K+$11M$11M
GEOSGeospace TechnologiesNEW+912.1K912.1K+$11M$11M
VPGVishay Precision GroupNEW+239.2K239.2K+$10M$10M

Value changes conflate price moves with buying and selling — share changes are the real signal. Share counts are not split-adjusted.

Holdings — Q1 2026

35 positions
Export to Excel
#IssuerClass% PortfolioValue ↓Shares
1CUBICustomers Bancorphistory →COM6.09%$18M261.7K
2AVNWAviat Networkshistory →COM5.18%$15M684.3K
3ENVAEnova Internationalhistory →COM5.14%$15M113.0K
4LOCOEl Pollo Loco Holdingshistory →COM4.91%$15M1.06M
5ACICAmerican Coastal Insurancehistory →COM4.80%$14M1.27M
6ADTNADTRAN Holdingshistory →COM4.36%$13M1.04M
7NPKINPK Internationalhistory →COM4.06%$12M835.9K
8EGYVAALCO Energyhistory →COM4.00%$12M1.88M
9NBBKNB Bancorphistory →COM3.91%$12M553.6K
10TCBITexas Capital Bancshrshistory →COM3.74%$11M117.5K
11GEOSGeospace Technologieshistory →COM3.73%$11M912.1K
12CLMBClimb Global Solutionshistory →COM3.57%$11M538.1K
13VPGVishay Precision Grouphistory →COM3.48%$10M239.2K
14RMRegional Managementhistory →COM3.46%$10M320.2K
15CMTCore Molding Techhistory →COM3.45%$10M459.9K
16MYEMyers Industrieshistory →COM3.34%$10M471.3K
17DHXDHI Grouphistory →COM3.18%$9M3.37M
18RGPResources Connectionhistory →COM3.06%$9M2.45M
19NAGENiagen Biosciencehistory →COM3.00%$9M2.03M
20MFINMedallion Financialhistory →COM2.96%$9M1.03M
21HRMYHarmony Bioscienceshistory →COM2.92%$9M311.5K
22MGPIMGP Ingredientshistory →COM2.63%$8M426.9K
23BBSIBarrett Business Serviceshistory →COM2.58%$8M263.8K
24SMSM Energy Companyhistory →COM1.98%$6M189.3K
25ZUMZZumiez Inchistory →COM1.93%$6M260.5K
26MYFWFirst Western Financialhistory →COM1.57%$5M190.1K
27BGSFBGSF Inchistory →COM1.37%$4M631.0K
28FLNTFluent Inchistory →COM1.24%$4M1.17M
29FORRForrester Researchhistory →COM1.06%$3M559.0K
30DLTHDuluth HoldingsCOM0.79%$2M747.1K
31OESXOrion Energy SystemsCOM0.78%$2M266.5K
32KTCCKey Tronic CorpCOM0.69%$2M758.7K
33EMLEastern CompanyCOM0.51%$2M76.0K
34SLNGStabilis SolutionsCOM0.34%$1M224.5K
35Primoris Services CorpCOM0.21%$624,0004.4K

Filing History

QuarterReported ValuePositionsFiledTypeLinks
Q1 2026$299M35May 8, 202613F-HRchanges · EDGAR ↗
Q4 2025$292M35Feb 10, 202613F-HRchanges · EDGAR ↗
Q3 2025$288M33Nov 12, 202513F-HRchanges · EDGAR ↗
Q2 2025$256M34Aug 12, 202513F-HRchanges · EDGAR ↗
Q1 2025$219M34May 12, 202513F-HRchanges · EDGAR ↗
Q4 2024$249M40Feb 11, 202513F-HRchanges · EDGAR ↗
Q3 2024$193M40Nov 12, 202413F-HRchanges · EDGAR ↗
Q2 2024$180M39Aug 9, 202413F-HRchanges · EDGAR ↗
Q1 2024$191M38May 10, 202413F-HRchanges · EDGAR ↗
Q4 2023$178M37Feb 9, 202413F-HRchanges · EDGAR ↗
Q3 2023$159M33Nov 1, 202313F-HRchanges · EDGAR ↗
Q2 2023$156M31Aug 15, 202313F-HRchanges · EDGAR ↗
Q1 2023$140M31May 10, 202313F-HRchanges · EDGAR ↗
Q4 2022Under review32Feb 10, 202313F-HRchanges · EDGAR ↗
Q3 2022$142M32Nov 14, 202213F-HRchanges · EDGAR ↗
Q2 2022$144M32Aug 10, 202213F-HRchanges · EDGAR ↗
Q1 2022$181M32May 10, 202213F-HRchanges · EDGAR ↗
Q4 2021$179M33Feb 10, 202213F-HRchanges · EDGAR ↗
Q3 2021$184M32Nov 10, 202113F-HRchanges · EDGAR ↗
Q2 2021$188M33Aug 10, 202113F-HRchanges · EDGAR ↗
Q1 2021$174M35May 10, 202113F-HRchanges · EDGAR ↗
Q4 2020$137M31Feb 11, 202113F-HRchanges · EDGAR ↗
Q3 2020$101M30Nov 12, 202013F-HRchanges · EDGAR ↗
Q2 2020$80M29Aug 12, 202013F-HRchanges · EDGAR ↗
Q1 2020$62M27May 11, 202013F-HRchanges · EDGAR ↗
Q4 2019$125M29Feb 11, 202013F-HRchanges · EDGAR ↗
Q3 2019$117M29Nov 12, 201913F-HRchanges · EDGAR ↗
Q2 2019$114M29Aug 9, 201913F-HRchanges · EDGAR ↗
Q1 2019$112M30May 10, 201913F-HRchanges · EDGAR ↗
Q4 2018$89M30Feb 8, 201913F-HRchanges · EDGAR ↗

13F filings are due up to 45 days after quarter end, so holdings shown here lag the fund’s current book. Source: original SEC filing on EDGAR ↗.