Saltstone Capital Management, LLC ("SCM") is a Dallas, Texas based investment manager founded in 2016 by Billy Bailey, former portfolio manager for T. Boone Pickens at BP Capital. SCM invests in all cap sizes with an emphasis on misunderstood small to mid-cap public equities with core exposure to North American based assets. We assess value by identifying significant trends derived from a detailed bottoms-up fundamental research process. Our investment objective is to compound capital by focusing on long-term company specific fundamentals. SCM commingles discipline and humility by allotting an appropriate amount of patience to remain fixated on intrinsic value and tune out short-term fluctuations.