SEC 13F Intelligence

Managers / Q3 2025 · view latest →

Tieton Capital Management, LLC

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

Reported Value
$288M
Q3 2025
Positions
33
Filings on Record
30
2019–present window
Filed
Nov 12, 2025
original filing

Summary

Tieton Capital Management, LLC reported $288M in U.S.-listed holdings across 33 positions for Q3 2025.

Its largest position, Customers Bancorp, represents 6.6% of the portfolio.

Compared with Q2 2025, the fund opened 1 new position and exited 2.

Portfolio Metrics

Turnover
+6.5%
vs prior filed quarter
Top-10 Concentration
+48.2%
share of reported value
Largest Position
+6.6%
Customers Bancorp
New / Exited
1 / 2
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: $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
Other: 56.3%Common Stock: 43.7%
  • Other · 56.3% · $162M
  • Common Stock · 43.7% · $126M

Quarter-over-Quarter Changes full breakdown →

vs Q2 2025 (amended baseline)

IssuerMoveShare ΔShares nowValue ΔValue now
OESXOrion Energy SystemsNEW+254.6K254.6K+$2M$2M
Resources ConnectionADDED+1.36M2.29M+$7M$12M
VBTXVeritex HoldingsSOLD OUT−315.1K0−$8M$0
Orion Energy SystemsSOLD OUT−2.49M0−$2M$0
LOCOEl Pollo Loco HoldingsADDED+223.2K853.2K+$1M$8M
HRMYHarmony BiosciencesADDED+60.9K298.6K+$717,000$8M
Duluth Holdings IncADDED+37.0K731.6K+$1M$3M
SSTKShutterstock IncHELD+11.3K244.9K+$676,000$5M

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

Holdings — Q3 2025

33 positions
Export to Excel
#IssuerClass% PortfolioValue ↓Shares
1Customers BancorpCOM6.59%$19M290.2K
2Geospace TechnologiesCOM5.85%$17M888.3K
3NAGENiagen Biosciencehistory →COM5.33%$15M1.65M
4Aviat NetworksCOM5.28%$15M663.0K
5ACICAmerican Coastal Insurancehistory →COM4.84%$14M1.22M
6Enova InternationalCOM4.32%$12M108.2K
7Regional ManagementCOM4.13%$12M305.7K
8Resources ConnectionCOM4.01%$12M2.29M
9NPKINPK Internationalhistory →COM3.98%$11M1.01M
10BBSIBarrett Business Serviceshistory →COM3.87%$11M251.5K
11MFINMedallion Financialhistory →COM3.45%$10M984.2K
12Vishay Precision GroupCOM3.45%$10M309.7K
13Primoris Services CorpCOM3.39%$10M71.2K
14Texas Capital BancshrsCOM3.30%$10M112.5K
15ADTRAN HoldingsCOM3.22%$9M989.1K
16CMTCore Molding Technologyhistory →COM3.15%$9M440.9K
17DHI GroupCOM2.91%$8M3.01M
18LOCOEl Pollo Loco Holdingshistory →COM2.87%$8M853.2K
19HRMYHarmony Bioscienceshistory →COM2.86%$8M298.6K
20CLMBClimb Global Solutionshistory →COM2.85%$8M60.9K
21MYEMyers Industrieshistory →COM2.65%$8M451.3K
22Guess IncCOM2.65%$8M457.5K
23VAALCO EnergyCOM2.52%$7M1.81M
24Civitas ResourcesCOM2.19%$6M194.1K
25SSTKShutterstock Inchistory →COM1.77%$5M244.9K
26ZUMZZumiez Inchistory →COM1.75%$5M256.9K
27BGSF IncCOM1.53%$4M619.4K
28First Western FinancialCOM1.45%$4M181.9K
29Duluth Holdings IncCOM0.99%$3M731.6K
30KTCCKey Tronic CorpCOM0.92%$3M741.0K
31Fluent IncCOM0.84%$2M1.08M
32OESXOrion Energy SystemsCOM0.77%$2M254.6K
33Stabilis SolutionsCOM0.31%$894,000205.0K

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 ↗.