SEC 13F Intelligence

Managers / Q3 2023 · view latest →

Tieton Capital Management, LLC

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

Reported Value
$159M
Q3 2023
Positions
33
Filings on Record
30
2019–present window
Filed
Nov 1, 2023
original filing

Summary

Tieton Capital Management, LLC reported $159M in U.S.-listed holdings across 33 positions for Q3 2023.

Its largest position, CIVI, represents 8.3% of the portfolio.

Compared with Q2 2023, the fund opened 2 new positions and exited 0.

Portfolio Metrics

Turnover
+8.0%
vs prior filed quarter
Top-10 Concentration
+54.3%
share of reported value
Largest Position
+8.3%
Civitas Resources

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: $142MQ4 ’22: $151MQ4 ’22Q1 ’23: $140MQ2 ’23: $156MQ3 ’23: $159MQ4 ’23: $178MQ4 ’23Q1 ’24: $191MQ2 ’24: $180MQ3 ’24: $193MQ4 ’24: $249MQ4 ’24Q1 ’25: $219MQ2 ’25: $256MQ3 ’25: $288MQ4 ’25: $292MQ4 ’25Q1 ’26: $299Mfilingsflow.com

Portfolio Composition

By security type
Common Stock: 99.4%Other: 0.6%
  • Common Stock · 99.4% · $158M
  • Other · 0.6% · $968,000

Quarter-over-Quarter Changes full breakdown →

vs Q2 2023 (amended baseline)

IssuerMoveShare ΔShares nowValue ΔValue now
CLMBClimb Global SolutionsNEW+93.2K93.2K+$4M$4M
MYEMyers IndustriesNEW+72.9K72.9K+$1M$1M
BGSFBGSF IncADDED+130.5K342.5K+$1M$3M
ACICAmerican Coastal InsuranceTRIMMED−952.2K1.33M−$394,000$10M
VBTXVeritex HoldingsADDED+53.3K196.8K+$960,000$4M
CUBICustomers BancorpTRIMMED−86.1K242.4K−$2M$8M
ENVAEnova InternationalTRIMMED−38.6K167.5K−$2M$9M
CECOCECO EnvironmentalTRIMMED−107.8K512.3K−$103,000$8M

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

Holdings — Q3 2023

33 positions
Export to Excel
#IssuerClass% PortfolioValue ↓Shares
1CIVICivitas Resourceshistory →COM8.25%$13M161.9K
2ACICAmerican Coastal Insurancehistory →COM6.16%$10M1.33M
3GEOSGeospace Technologieshistory →COM6.05%$10M741.3K
4ENVAEnova Internationalhistory →COM5.37%$9M167.5K
5CUBICustomers Bancorphistory →COM5.26%$8M242.4K
6CECOCECO Environmentalhistory →COM5.16%$8M512.3K
7MPAAMotorcar Parts of Americahistory →COM5.05%$8M990.3K
8PRIMPrimoris Services Corphistory →COM4.94%$8M239.4K
9EGYVAALCO Energyhistory →COM4.18%$7M1.51M
10NMIHNMI Holdingshistory →COM3.83%$6M224.5K
11NPKINewpark Resourceshistory →COM3.68%$6M845.1K
12MFINMedallion Financialhistory →COM3.65%$6M824.9K
13TCBITexas Capital Bancshrshistory →COM3.49%$6M94.0K
14Guess IncCOM3.32%$5M243.6K
15BBSIBarrett Business Serviceshistory →COM3.00%$5M52.7K
16CLMBClimb Global Solutionshistory →COM2.53%$4M93.2K
17DHXDHI Grouphistory →COM2.51%$4M1.30M
18DLTHDuluth Holdings Inchistory →COM2.28%$4M602.3K
19NAGEChromaDex Corphistory →COM2.26%$4M2.45M
20VBTXVeritex Holdingshistory →COM2.23%$4M196.8K
21BGSFBGSF Inchistory →COM2.07%$3M342.5K
22RMRegional Managementhistory →COM1.86%$3M106.8K
23KTCCKey Tronic Corphistory →COM1.78%$3M631.5K
24MYFWFirst Western Financialhistory →COM1.76%$3M153.6K
25ZUMZZumiez Inchistory →COM1.75%$3M155.9K
26Orion Energy SystemsCOM1.68%$3M2.12M
27Fluent IncCOM1.24%$2M4.43M
28NATRNature's Sunshine Productshistory →COM1.05%$2M100.7K
29VPGVishay Precision GroupCOM0.98%$2M46.5K
30MYEMyers IndustriesCOM0.82%$1M72.9K
31ADTNADTRAN HoldingsCOM0.75%$1M144.9K
32BM TechnologiesCOM0.61%$968,000483.9K
33SLNGStabilis SolutionsCOM0.44%$699,000164.5K

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 2022$151M32Feb 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 ↗.