# Tieton Capital Management, LLC

> Institutional holdings reported to the SEC as of Q2 2026 on Form 13F. CIK 1381954. Source: https://holderbook.com/funds/1381954-tieton-capital-management-llc/

- Reported value: $347.8M
- Positions: 37
- Weight of the ten largest: 47.1%
- Filed: 2026-08-10

A 13F reports long US equity positions only. Short positions, bonds, foreign listings, private holdings and cash are not visible, so this is not the manager's whole book.

## Holdings

| Security | Ticker | Value | Shares | Weight | Quarters held |
|---|---|---|---|---|---|
| ENOVA INTL INC | [ENVA](https://holderbook.com/stocks/ENVA/) | $26.6M | 110,400 | 7.6% | 31 |
| CUSTOMERS BANCORP INC | [CUBI](https://holderbook.com/stocks/CUBI/) | $20.3M | 256,178 | 5.8% | 31 |
| EL POLLO LOCO HLDGS INC | [LOCO](https://holderbook.com/stocks/LOCO/) | $17.5M | 1,033,917 | 5.0% | 6 |
| MYERS INDS INC | [MYE](https://holderbook.com/stocks/MYE/) | $16.3M | 462,230 | 4.7% | 12 |
| CLIMB GLOBAL SOLUTIONS INC | [CLMB](https://holderbook.com/stocks/CLMB/) | $15.9M | 687,131 | 4.6% | 12 |
| AVIAT NETWORKS INC | [AVNW](https://holderbook.com/stocks/AVNW/) | $15.0M | 676,440 | 4.3% | 8 |
| AMERICAN COASTAL INS CORP | [ACIC](https://holderbook.com/stocks/ACIC/) | $13.9M | 1,254,880 | 4.0% | 19 |
| REGIONAL MGMT CORP | [RM](https://holderbook.com/stocks/RM/) | $13.1M | 318,259 | 3.8% | 31 |
| NPK INTERNATIONAL INC | [NPKI](https://holderbook.com/stocks/NPKI/) | $13.1M | 820,845 | 3.8% | 31 |
| RESOURCES CONNECTION INC | [RGP](https://holderbook.com/stocks/RGP/) | $12.0M | 2,817,636 | 3.4% | 9 |
| TEXAS CAP BANCSHARES INC | [TCBI](https://holderbook.com/stocks/TCBI/) | $11.9M | 115,045 | 3.4% | 23 |
| DHI GROUP INC | [DHX](https://holderbook.com/stocks/DHX/) | $11.7M | 3,165,444 | 3.4% | 22 |
| NB BANCORP INC | [NBBK](https://holderbook.com/stocks/NBBK/) | $11.6M | 546,600 | 3.3% | 3 |
| BARRETT BUSINESS SVCS INC | [BBSI](https://holderbook.com/stocks/BBSI/) | $11.3M | 319,390 | 3.3% | 25 |
| MGP INGREDIENTS INC NEW | [MGPI](https://holderbook.com/stocks/MGPI/) | $11.3M | 642,260 | 3.2% | 3 |
| HARMONY BIOSCIENCES HLDGS IN | [HRMY](https://holderbook.com/stocks/HRMY/) | $11.2M | 306,781 | 3.2% | 5 |
| CORE MOLDING TECHNOLOGIES IN | [CMT](https://holderbook.com/stocks/CMT/) | $10.7M | 452,030 | 3.1% | 10 |
| MEDALLION FINANCIAL CORP | [MFIN](https://holderbook.com/stocks/MFIN/) | $10.3M | 1,008,564 | 3.0% | 30 |
| VAALCO ENERGY INC | [EGY](https://holderbook.com/stocks/EGY/) | $9.3M | 1,835,340 | 2.7% | 31 |
| IBEX LTD | [IBEX](https://holderbook.com/stocks/IBEX/) | $8.4M | 275,035 | 2.4% | 1 |
| ZUMIEZ INC | [ZUMZ](https://holderbook.com/stocks/ZUMZ/) | $7.9M | 445,863 | 2.3% | 16 |
| ADTRAN HOLDINGS INC | [ADTN](https://holderbook.com/stocks/ADTN/) | $7.9M | 570,542 | 2.3% | 16 |
| NIAGEN BIOSCIENCE INC | [NAGE](https://holderbook.com/stocks/NAGE/) | $6.4M | 2,008,470 | 1.8% | 31 |
| FORRESTER RESH INC | [FORR](https://holderbook.com/stocks/FORR/) | $6.4M | 757,476 | 1.8% | 3 |
| GIGACLOUD TECHNOLOGY INC | [GCT](https://holderbook.com/stocks/GCT/) | $6.3M | 197,995 | 1.8% | 1 |
| GEOSPACE TECHNOLOGIES CORP | [GEOS](https://holderbook.com/stocks/GEOS/) | $6.1M | 907,265 | 1.8% | 31 |
| EASTERN CO | [EML](https://holderbook.com/stocks/EML/) | $6.0M | 217,210 | 1.7% | 2 |
| FIRST WESTN FINL INC | [MYFW](https://holderbook.com/stocks/MYFW/) | $6.0M | 187,274 | 1.7% | 22 |
| FLUENT INC | [FLNT](https://holderbook.com/stocks/FLNT/) | $4.4M | 1,176,147 | 1.3% | 9 |
| ROCKY BRANDS INC | [RCKY](https://holderbook.com/stocks/RCKY/) | $4.0M | 96,984 | 1.2% | 1 |
| BGSF INC | [BGSF](https://holderbook.com/stocks/BGSF/) | $3.6M | 633,407 | 1.0% | 13 |
| ORION ENERGY SYS INC | [OESX](https://holderbook.com/stocks/OESX/) | $3.3M | 284,526 | 1.0% | 4 |
| DULUTH HLDGS INC | [DLTH](https://holderbook.com/stocks/DLTH/) | $3.3M | 726,508 | 0.9% | 15 |
| KEY TRONIC CORP | [KTCC](https://holderbook.com/stocks/KTCC/) | $3.1M | 760,930 | 0.9% | 31 |
| STABILIS SOLUTIONS INC | [SLNG](https://holderbook.com/stocks/SLNG/) | $950.0K | 234,505 | 0.3% | 28 |
| VISHAY PRECISION GROUP INC | [VPG](https://holderbook.com/stocks/VPG/) | $347.0K | 2,315 | 0.1% | 25 |
| PRIMORIS SVCS CORP | [PRIM](https://holderbook.com/stocks/PRIM/) | $341.0K | 3,443 | 0.1% | 18 |

## What the disclosed book did

Not the fund's return. This is the change in value of the positions disclosed on Form 13F, had they been left untouched, against SPY over the same quarter ends.

| Quarter | Book | Market | Difference | Priced |
|---|---|---|---|---|
| Q2 2026 | +20.9% | +14.8% | +6.1% | 100% |
| Q1 2026 | -2.4% | -4.6% | +2.2% | 98% |
| Q4 2025 | -0.9% | +2.4% | -3.2% | 100% |
| Q3 2025 | +9.2% | +7.8% | +1.4% | 99% |
| Q2 2025 | +19.2% | +10.5% | +8.7% | 100% |
| Q1 2025 | -8.1% | -4.6% | -3.6% | 100% |
| Q4 2024 | +4.1% | +2.1% | +1.9% | 100% |
| Q3 2024 | +8.4% | +5.4% | +3.0% | 100% |

## Quarter by quarter

| Quarter | Value | Positions |
|---|---|---|
| Q2 2026 | $347.8M | 37 |
| Q1 2026 | $298.6M | 35 |
| Q4 2025 | $292.4M | 35 |
| Q3 2025 | $288.1M | 33 |
| Q2 2025 | $255.9M | 34 |
| Q1 2025 | $218.7M | 34 |
| Q4 2024 | $248.7M | 40 |
| Q3 2024 | $193.1M | 40 |
| Q2 2024 | $180.0M | 39 |
| Q1 2024 | $190.8M | 38 |
| Q4 2023 | $177.5M | 37 |
| Q3 2023 | $158.7M | 33 |