Abstract: A tension compensator for use on a package winder has two spaced pins projecting from a rotatable member about an axis, the pins extending generally in the direction of the axis. The member is biased to rotate in a predetermined direction toward a stop so that a strand passed between and over said pins in a zig-zag fashion moves the pins against the bias to straighten the strand under higher tension and permit the bias to move the pins to store the strand under lower tension. The compensator has a strand guide for guiding the strand preparatory to loading in a path forwardly displaced from the pins. An actuator is provided to rotate said member to a loading position and to thereafter release the strand from the strand guide so that it drops between the pins whereby the strand is loaded between and over said pins in zig-zag fashion.