As with all quadrupeds, the tenderloin refers to the psoas major muscle ventral to the transverse processes of the lumbar vertebrae, near the kidneys.

The smaller, pointed end—the "tail"—starts a little past the ribs, growing in thickness until it ends in the "sirloin" primal cut, which is closer to the butt of the cow.

[5] Whole tenderloins are sold as either "unpeeled" (meaning the fat and silver skin remain), "peeled" (meaning that the fat is removed, but silver skin remains), or as PSMOs ("pismos"), which is short for "peeled, side muscle on"[6] (side muscle refers to the "chain").

The center cut can yield the traditional filet mignon or tenderloin steak, as well as the Chateaubriand and Beef Wellington.

The tail, which is generally unsuitable for steaks due to size inconsistency, can be used for Tournedos, rounds too small to serve as an individual filet mignon-sized entre, typically plated as a pair and often cooked with bacon or lard for added richness, or used in recipes where small pieces of a tender cut are called for.