SEC 13F Intelligence

Managers / Q1 2024 · view latest →

Tieton Capital Management, LLC

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

Reported Value
$191M
Q1 2024
Positions
38
Filings on Record
29
2019–present window
Filed
May 10, 2024
original filing

Summary

Tieton Capital Management, LLC reported $191M in U.S.-listed holdings across 38 positions for Q1 2024.

Its largest position, CUBI, represents 6.7% of the portfolio.

Compared with Q4 2023, the fund opened 1 new position and exited 0.

Portfolio Metrics

Turnover
+7.3%
vs prior filed quarter
Top-10 Concentration
+53.3%
share of reported value
Largest Position
+6.7%
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
Q1 ’19: $112MQ1 ’19Q2 ’19: $114MQ3 ’19: $117MQ4 ’19: $125MQ1 ’20: $62MQ1 ’20Q2 ’20: $80MQ3 ’20: $101MQ4 ’20: $137MQ1 ’21: $174MQ1 ’21Q2 ’21: $188MQ3 ’21: $184MQ4 ’21: $179MQ1 ’22: $181MQ1 ’22Q2 ’22: $144MQ3 ’22: $142MQ4 ’22: $151MQ1 ’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: 99.4%Other: 0.5%ADR: 0.1%
  • Common Stock · 99.4% · $190M
  • Other · 0.5% · $948,000
  • ADR · 0.1% · $141,000

Quarter-over-Quarter Changes full breakdown →

vs Q4 2023 (amended baseline)

IssuerMoveShare ΔShares nowValue ΔValue now
CMTCore Molding TechnologyNEW+70.5K70.5K+$1M$1M
ADTNADTRAN HoldingsADDED+824.6K966.4K+$4M$5M
NMIHNMI HoldingsTRIMMED−126.0K94.6K−$3M$3M
NATRNature's Sunshine ProductsTRIMMED−55.3K42.1K−$809,000$875,000
DHXDHI GroupADDED+478.5K1.95M+$1M$5M
ZUMZZumiez IncADDED+50.5K206.4K−$35,000$3M
ACICAmerican Coastal InsuranceTRIMMED−301.2K1.02M−$2M$11M
CECOCECO EnvironmentalTRIMMED−59.7K222.8K−$600,000$5M

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

Holdings — Q1 2024

38 positions
Export to Excel
#IssuerClass% PortfolioValue ↓Shares
1CUBICustomers Bancorphistory →COM6.68%$13M240.2K
2CIVICivitas Resourceshistory →COM6.42%$12M161.3K
3ACICAmerican Coastal Insurancehistory →COM5.69%$11M1.02M
4NAGEChromaDex Corphistory →COM5.51%$11M3.02M
5EGYVAALCO Energyhistory →COM5.47%$10M1.50M
6ENVAEnova Internationalhistory →COM5.43%$10M164.9K
7GEOSGeospace Technologieshistory →COM5.10%$10M737.0K
8CLMBClimb Global Solutionshistory →COM4.62%$9M124.2K
9PRIMPrimoris Services Corphistory →COM4.29%$8M192.2K
10MPAAMotorcar Parts of Americahistory →COM4.13%$8M979.5K
11Guess IncCOM3.99%$8M241.7K
12BBSIBarrett Business Serviceshistory →COM3.47%$7M52.2K
13MFINMedallion Financialhistory →COM3.37%$6M813.5K
14NPKINewpark Resourceshistory →COM3.17%$6M837.0K
15TCBITexas Capital Bancshrshistory →COM3.01%$6M93.3K
16VBTXVeritex Holdingshistory →COM2.91%$6M271.3K
17ADTNADTRAN Holdingshistory →COM2.76%$5M966.4K
18CECOCECO Environmentalhistory →COM2.69%$5M222.8K
19DHXDHI Grouphistory →COM2.61%$5M1.95M
20BGSFBGSF Inchistory →COM2.35%$4M431.5K
21MYEMyers Industrieshistory →COM2.24%$4M184.5K
22ZUMZZumiez Inchistory →COM1.64%$3M206.4K
23NMIHNMI Holdingshistory →COM1.60%$3M94.6K
24DLTHDuluth Holdings Inchistory →COM1.56%$3M606.4K
25KTCCKey Tronic Corphistory →COM1.53%$3M625.0K
26RMRegional Managementhistory →COM1.36%$3M106.8K
27MYFWFirst Western Financialhistory →COM1.16%$2M151.2K
28Fluent IncCOM1.13%$2M4.39M
29Orion Energy SystemsCOM0.97%$2M2.13M
30VPGVishay Precision GroupCOM0.87%$2M47.2K
31CMTCore Molding TechnologyCOM0.70%$1M70.5K
32NATRNature's Sunshine ProductsCOM0.46%$875,00042.1K
33BM TechnologiesCOM0.42%$806,000488.2K
34SLNGStabilis SolutionsCOM0.36%$691,000164.2K
35AMZNAmazon.com IncCOM0.19%$361,0002.0K
36Hon Hai Precision CoCOM0.07%$142,00029.2K
37RYCEYRolls Royce Hldgs PLCCOM0.06%$106,00019.8K
38NOKNokia CorpCOM0.02%$35,00010.0K

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 ↗

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 ↗.