TIETON CAPITAL MANAGEMENT LLC
Q1 2026 Form 13-F
YAKIMA, WASHINGTON
CIK 0001381954
· CRD 135769
· SEC-registered investment adviser
$298.6M Reported Value Total
TIETON CAPITAL MANAGEMENT reports 50 total accounts under management (AUM). There are 50 discretionary accounts valued at $313,981,362, and 0 non-discretionary accounts.
Source: Form ADV filed * Note that certain holdings are exempt from Form 13-F reporting, so the AUM totals may be greater than the Form 13-F total.
Source: Form ADV filed 2026-03-17
Reported value
$298.6M
Quarter over quarter
-2.2%
Holdings
35
Top-10 concentration
46.2%
Filing Structure
Reports holdings for
- Acuitas Investments LLC · File #028-16461 · Q1 2024 – Q1 2026 · declared by one filing
Key People
Form ADV owners & control persons
William Joseph Dezellem
PRESIDENT, CHIEF INVESTMENT OFFICER, CHIEF COMPLIANCE OFFICER & MANAGING MEMBER
Matthew Walter Dhane
PORTFOLIO MANAGER, PRINCIPAL & MEMBER
Filing Navigation
Coverage begins with the second quarter of 2013. Earlier quarters are not shown while their accuracy is being verified.
13F Metrics
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Q1 2026 13F record
Q1 2026 13F filing summary
| Period of report | March 31, 2026 |
|---|---|
| Filed | May 08, 2026 |
| Form | 13F-HR |
| Reported value | $298.6M |
| Positions | 35 |
| Change in reported value | +2.1% |
| New positions | 2 |
| Exited positions | 2 |
| Position turnover | 10.8% |
| Top-10 concentration | 46.2% |
13F filings by quarter
| Quarter | Positions | Value |
|---|---|---|
|
Q3 2026 13F
Filed Nov 10, 2026
|
35 | $335.9M |
|
Q2 2026 13F
Filed Aug 10, 2026
|
37 | $347.8M |
|
Q1 2026 13F
Filed May 8, 2026
|
35 | $298.6M |
|
Q4 2025 13F
Filed Feb 10, 2026
|
35 | $292.4M |
|
Q3 2025 13F
Filed Nov 12, 2025
|
33 | $288.1M |
|
Q2 2025 13F
Filed Aug 12, 2025
|
34 | $255.9M |
|
Q1 2025 13F
Filed May 12, 2025
|
34 | $218.7M |
|
Q4 2024 13F
Filed Feb 11, 2025
|
40 | $248.7M |
|
Q3 2024 13F
Filed Nov 12, 2024
|
40 | $193.1M |
|
Q2 2024 13F
Filed Aug 9, 2024
|
39 | $180.0M |
|
Q1 2024 13F
Filed May 10, 2024
|
38 | $190.8M |
|
Q4 2023 13F
Filed Feb 9, 2024
|
37 | $177.5M |
|
Q3 2023 13F
Filed Nov 1, 2023
|
33 | $158.7M |
|
Q2 2023 13F
Filed Aug 15, 2023
|
31 | $155.8M |
|
Q1 2023 13F
Filed May 10, 2023
|
31 | $140.4M |
|
Q4 2022 13F
Filed Feb 10, 2023
|
32 | $151.4M |
|
Q3 2022 13F
Filed Nov 14, 2022
|
32 | $142.1M |
|
Q2 2022 13F
Filed Aug 10, 2022
|
32 | $144.4M |
|
Q1 2022 13F
Filed May 10, 2022
|
32 | $181.0M |
|
Q4 2021 13F
Filed Feb 10, 2022
|
33 | $178.6M |
34 earlier quarters on file — choose one from the quarter menu above.
Top 20 holdings · Q1 2026
| # | Holding | Reported value | % of portfolio |
|---|---|---|---|
| 1 | CUBI Customers Bancorp | $18.2M | 6.09% |
| 2 | AVNW Aviat Networks | $15.5M | 5.18% |
| 3 | ENVA Enova International | $15.4M | 5.14% |
| 4 | LOCO El Pollo Loco Holdings | $14.7M | 4.91% |
| 5 | ACIC American Coastal Insurance | $14.3M | 4.8% |
| 6 | ADTN ADTRAN Holdings | $13.0M | 4.36% |
| 7 | NPKI NPK International | $12.1M | 4.06% |
| 8 | EGY VAALCO Energy | $11.9M | 4.0% |
| 9 | NBBK NB Bancorp | $11.7M | 3.91% |
| 10 | TCBI Texas Capital Bancshrs | $11.2M | 3.74% |
| 11 | GEOS Geospace Technologies | $11.1M | 3.73% |
| 12 | CLMB Climb Global Solutions | $10.7M | 3.57% |
| 13 | VPG Vishay Precision Group | $10.4M | 3.48% |
| 14 | RM Regional Management | $10.3M | 3.46% |
| 15 | CMT Core Molding Tech | $10.3M | 3.45% |
| 16 | MYE Myers Industries | $10.0M | 3.34% |
| 17 | DHX DHI Group | $9.5M | 3.18% |
| 18 | RGP Resources Connection | $9.1M | 3.06% |
| 19 | NAGE Niagen Bioscience | $8.9M | 3.0% |
| 20 | MFIN Medallion Financial | $8.8M | 2.96% |
Values as reported on the Q1 2026 Form 13F. Every position is in the holdings table below.