STEEL PARTNERS HOLDINGS L.P.

**STEEL PARTNERS HOLDINGS L.P.** manages $125M across a focused portfolio of 10 positions. The strategy exhibits significant conviction in infrastructure and industrial sectors, highlighted by the largest allocation to GDOT at $48.3M. Further notable concentrations include MATW ($20.1M) and SPRU ($16.3M), suggesting a tactical overweighting toward cyclical growth names. This concentrated structure indicates a high-conviction, bottom-up approach to capital deployment.

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