SEC 13F Intelligence

Managers / Q4 2023 · view latest →

Tieton Capital Management, LLC

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

Reported Value
$178M
Q4 2023
Positions
37
Filings on Record
30
2019–present window
Filed
Feb 9, 2024
original filing

Summary

Tieton Capital Management, LLC reported $178M in U.S.-listed holdings across 37 positions for Q4 2023.

Its largest position, CUBI, represents 7.7% of the portfolio.

Compared with Q3 2023, the fund opened 4 new positions and exited 0.

Portfolio Metrics

Turnover
+4.1%
vs prior filed quarter
Top-10 Concentration
+53.1%
share of reported value
Largest Position
+7.7%
Customers Bancorp

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: 99.3%Other: 0.6%ADR: 0.1%
  • Common Stock · 99.3% · $176M
  • Other · 0.6% · $1M
  • ADR · 0.1% · $109,000

Quarter-over-Quarter Changes full breakdown →

vs Q3 2023 (amended baseline)

IssuerMoveShare ΔShares nowValue ΔValue now
AMZNAmazon.com IncNEW+2.0K2.0K+$304,000$304,000
Hon Hai Precision CoNEW+29.2K29.2K+$100,000$100,000
RYCEYRolls Royce Hldgs PLCNEW+19.8K19.8K+$75,000$75,000
NOKNokia CorpNEW+10.0K10.0K+$34,000$34,000
MYEMyers IndustriesADDED+110.5K183.4K+$2M$4M
CECOCECO EnvironmentalTRIMMED−229.8K282.4K−$2M$6M
VBTXVeritex HoldingsADDED+73.8K270.6K+$3M$6M
CLMBClimb Global SolutionsADDED+30.2K123.4K+$3M$7M

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

Holdings — Q4 2023

37 positions
Export to Excel
#IssuerClass% PortfolioValue ↓Shares
1CUBICustomers Bancorphistory →COM7.75%$14M238.6K
2ACICAmerican Coastal Insurancehistory →COM7.01%$12M1.32M
3CIVICivitas Resourceshistory →COM6.18%$11M160.4K
4GEOSGeospace Technologieshistory →COM5.35%$9M732.9K
5MPAAMotorcar Parts of Americahistory →COM5.16%$9M980.9K
6ENVAEnova Internationalhistory →COM5.14%$9M164.9K
7MFINMedallion Financialhistory →COM4.50%$8M810.1K
8PRIMPrimoris Services Corphistory →COM4.43%$8M236.7K
9CLMBClimb Global Solutionshistory →COM3.81%$7M123.4K
10EGYVAALCO Energyhistory →COM3.76%$7M1.49M
11NMIHNMI Holdingshistory →COM3.69%$7M220.6K
12VBTXVeritex Holdingshistory →COM3.55%$6M270.6K
13BBSIBarrett Business Serviceshistory →COM3.39%$6M51.9K
14TCBITexas Capital Bancshrshistory →COM3.38%$6M92.8K
15CECOCECO Environmentalhistory →COM3.23%$6M282.4K
16Guess IncCOM3.13%$6M240.8K
17NPKINewpark Resourceshistory →COM3.12%$6M833.7K
18NAGEChromaDex Corphistory →COM2.35%$4M2.91M
19BGSFBGSF Inchistory →COM2.28%$4M430.3K
20DHXDHI Grouphistory →COM2.15%$4M1.47M
21MYEMyers Industrieshistory →COM2.02%$4M183.4K
22DLTHDuluth Holdings Inchistory →COM1.83%$3M604.3K
23ZUMZZumiez Inchistory →COM1.79%$3M155.9K
24MYFWFirst Western Financialhistory →COM1.71%$3M152.8K
25Fluent IncCOM1.63%$3M4.33M
26KTCCKey Tronic Corphistory →COM1.51%$3M621.2K
27RMRegional Managementhistory →COM1.50%$3M106.0K
28Orion Energy SystemsCOM1.04%$2M2.13M
29NATRNature's Sunshine ProductsCOM0.95%$2M97.4K
30VPGVishay Precision GroupCOM0.89%$2M46.3K
31ADTNADTRAN HoldingsCOM0.59%$1M141.7K
32BM TechnologiesCOM0.54%$964,000470.0K
33SLNGStabilis SolutionsCOM0.38%$680,000163.8K
34AMZNAmazon.com IncCOM0.17%$304,0002.0K
35Hon Hai Precision CoCOM0.06%$100,00029.2K
36RYCEYRolls Royce Hldgs PLCCOM0.04%$75,00019.8K
37NOKNokia CorpCOM0.02%$34,00010.0K

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 ↗.