Tieton Capital Management

Tieton Capital Management is an SEC-registered investment adviser that manages a Small Cap Value equity strategy for a mix of clients including foundations, endowments, trusts, pension funds, wealthy families and individual investors. The firm manages discretionary accounts from a model portfolio and, for select clients, supplements equity holdings with no-load mutual funds and ETFs and also manages a limited number of wrap-fee accounts.

The firm follows a fundamentals-based, bottom-up investment process focused on small, value companies generally with market capitalizations under $3 billion, seeking catalysts, quality management, prudent debt and solid cash-flow characteristics. Portfolios are concentrated (generally 25–35 names), remain fully invested and are researched through on-site meetings, company filings and Refinitiv Workspace analysis.

Compared with many similarly sized supported firms, Tieton reports relationships with pooled investment vehicles, investment company and pension/municipal-type clients (it notes fund-of-fund and pension clients in its disclosures), and it produces formal performance reporting — including a full performance disclosure presentation available upon request. The firm also states a capacity policy to close to new clients at $350 million to preserve its focused, model-driven approach.