Gumshoe Capital affiliates and Eric Wolff report a passive ownership stake in Compass Minerals International. Collectively the reporting persons disclose beneficial ownership of 1,324,134 shares, representing 3.2% of the outstanding common stock. The filing indicates shared voting and shared dispositive power over these shares rather than sole control.
The schedule states the securities are held by advisory clients of Gumshoe Capital Management LLC and includes a disclaimer that each reporting person disclaims beneficial ownership except to the extent of pecuniary interest. The filing is submitted on Schedule 13G and includes a certification that the holdings were not acquired to change or influence control of the issuer.
Positive
Transparent disclosure of a material minority stake: 1,324,134 shares representing 3.2% of common stock
Filed on Schedule 13G with a certification indicating passive intent rather than an attempt to influence control
Negative
None.
Insights
TL;DR: A passive 3.2% stake disclosed; limited immediate governance impact but increases transparency about shareholder composition.
The Schedule 13G reports 1,324,134 shares (3.2%) held with shared voting and dispositive power by Gumshoe-affiliated entities and Eric Wolff. Filing on Schedule 13G and the Item 10 certification indicate a passive intent, not an attempt to influence control. For investors, this is primarily a disclosure event: the stake is meaningful enough to note but remains below common activism thresholds and lacks indications of a control campaign.
TL;DR: Disclosure clarifies ownership structure and voting arrangements; no red flags for immediate governance change.
The report identifies shared voting and shared dispositive power over the reported position, and specifies the shares are owned by advisory clients, with reporting persons disclaiming broader beneficial ownership. The use of Schedule 13G and the certification that the securities were not acquired to influence control suggest this is a passive, informational filing. From a governance standpoint, the filing increases transparency without signaling a challenge to management or board control.
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13G
UNDER THE SECURITIES EXCHANGE ACT OF 1934
(Amendment No. 1)
COMPASS MINERALS INTERNATIONAL INC
(Name of Issuer)
Common stock, $0.01 par value
(Title of Class of Securities)
20451N101
(CUSIP Number)
06/30/2025
(Date of Event Which Requires Filing of this Statement)
Check the appropriate box to designate the rule pursuant to which this Schedule is filed:
Rule 13d-1(b)
Rule 13d-1(c)
Rule 13d-1(d)
SCHEDULE 13G
CUSIP No.
20451N101
1
Names of Reporting Persons
Gumshoe Capital Management LLC
2
Check the appropriate box if a member of a Group (see instructions)
(a)
(b)
3
Sec Use Only
4
Citizenship or Place of Organization
DELAWARE
Number of Shares Beneficially Owned by Each Reporting Person With:
5
Sole Voting Power
0.00
6
Shared Voting Power
1,324,134.00
7
Sole Dispositive Power
0.00
8
Shared Dispositive Power
1,324,134.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
1,324,134.00
10
Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)
11
Percent of class represented by amount in row (9)
3.2 %
12
Type of Reporting Person (See Instructions)
OO
SCHEDULE 13G
CUSIP No.
20451N101
1
Names of Reporting Persons
Gumshoe Master Fund LP
2
Check the appropriate box if a member of a Group (see instructions)
(a)
(b)
3
Sec Use Only
4
Citizenship or Place of Organization
CAYMAN ISLANDS
Number of Shares Beneficially Owned by Each Reporting Person With:
5
Sole Voting Power
0.00
6
Shared Voting Power
1,324,134.00
7
Sole Dispositive Power
0.00
8
Shared Dispositive Power
1,324,134.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
1,324,134.00
10
Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)
11
Percent of class represented by amount in row (9)
3.2 %
12
Type of Reporting Person (See Instructions)
PN
SCHEDULE 13G
CUSIP No.
20451N101
1
Names of Reporting Persons
Gumshoe Capital GP LLC
2
Check the appropriate box if a member of a Group (see instructions)
(a)
(b)
3
Sec Use Only
4
Citizenship or Place of Organization
DELAWARE
Number of Shares Beneficially Owned by Each Reporting Person With:
5
Sole Voting Power
0.00
6
Shared Voting Power
1,324,134.00
7
Sole Dispositive Power
0.00
8
Shared Dispositive Power
1,324,134.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
1,324,134.00
10
Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)
11
Percent of class represented by amount in row (9)
3.2 %
12
Type of Reporting Person (See Instructions)
OO
SCHEDULE 13G
CUSIP No.
20451N101
1
Names of Reporting Persons
Eric Wolff
2
Check the appropriate box if a member of a Group (see instructions)
(a)
(b)
3
Sec Use Only
4
Citizenship or Place of Organization
UNITED STATES
Number of Shares Beneficially Owned by Each Reporting Person With:
5
Sole Voting Power
0.00
6
Shared Voting Power
1,324,134.00
7
Sole Dispositive Power
0.00
8
Shared Dispositive Power
1,324,134.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
1,324,134.00
10
Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)
11
Percent of class represented by amount in row (9)
3.2 %
12
Type of Reporting Person (See Instructions)
HC, IN
SCHEDULE 13G
Item 1.
(a)
Name of issuer:
COMPASS MINERALS INTERNATIONAL INC
(b)
Address of issuer's principal executive offices:
9900 West 109th Street, Suite 100, Overland Park, KS 66210, 66210
Item 2.
(a)
Name of person filing:
Gumshoe Capital Management LLC
Gumshoe Master Fund LP
Gumshoe Capital GP LLC
Eric Wolff
(b)
Address or principal business office or, if none, residence:
Gumshoe Capital Management LLC
156 W 56th Street, Suite 701
New York, New York 10019
United States of America
Gumshoe Master Fund LP
c/o Gumshoe Capital Management LLC
156 W 56th Street, Suite 701
New York, New York 10019
United States of America
Gumshoe Capital GP LLC
c/o Gumshoe Capital Management LLC
156 W 56th Street, Suite 701
New York, New York 10019
United States of America
Eric Wolff
c/o Gumshoe Capital Management LLC
156 W 56th Street, Suite 701
New York, New York 10019
United States of America
(c)
Citizenship:
Gumshoe Capital Management LLC - Delaware
Gumshoe Master Fund LP - Cayman Islands
Gumshoe Capital GP LLC - Delaware
Eric Wolff - United States
(d)
Title of class of securities:
Common stock, $0.01 par value
(e)
CUSIP No.:
20451N101
Item 3.
If this statement is filed pursuant to §§ 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:
(a)
Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o);
(b)
Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c);
(c)
Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c);
(d)
Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8);
(e)
An investment adviser in accordance with § 240.13d-1(b)(1)(ii)(E);
(f)
An employee benefit plan or endowment fund in accordance with § 240.13d-1(b)(1)(ii)(F);
(g)
A parent holding company or control person in accordance with § 240.13d-1(b)(1)(ii)(G);
(h)
A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);
(i)
A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3);
(j)
A non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J). If filing as a non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J),
please specify the type of institution:
(k)
Group, in accordance with Rule 240.13d-1(b)(1)(ii)(K).
Item 4.
Ownership
(a)
Amount beneficially owned:
Gumshoe Capital Management LLC - 1,324,134
Gumshoe Master Fund LP - 1,324,134
Gumshoe Capital GP LLC - 1,324,134
Eric Wolff - 1,324,134
(b)
Percent of class:
Gumshoe Capital Management LLC - 3.2%
Gumshoe Master Fund LP - 3.2%
Gumshoe Capital GP LLC - 3.2%
Eric Wolff - 3.2%
(c)
Number of shares as to which the person has:
(i) Sole power to vote or to direct the vote:
Gumshoe Capital Management LLC - 0
Gumshoe Master Fund LP - 0
Gumshoe Capital GP LLC - 0
Eric Wolff - 0
(ii) Shared power to vote or to direct the vote:
Gumshoe Capital Management LLC - 1,324,134
Gumshoe Master Fund LP - 1,324,134
Gumshoe Capital GP LLC - 1,324,134
Eric Wolff - 1,324,134
(iii) Sole power to dispose or to direct the disposition of:
Gumshoe Capital Management LLC - 0
Gumshoe Master Fund LP - 0
Gumshoe Capital GP LLC - 0
Eric Wolff - 0
(iv) Shared power to dispose or to direct the disposition of:
Gumshoe Capital Management LLC - 1,324,134
Gumshoe Master Fund LP - 1,324,134
Gumshoe Capital GP LLC - 1,324,134
Eric Wolff - 1,324,134
Item 5.
Ownership of 5 Percent or Less of a Class.
Ownership of 5 percent or less of a class
Item 6.
Ownership of more than 5 Percent on Behalf of Another Person.
If any other person is known to have the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of, such securities, a statement to that effect should be included in response to this item and, if such interest relates to more than 5 percent of the class, such person should be identified. A listing of the shareholders of an investment company registered under the Investment Company Act of 1940 or the beneficiaries of employee benefit plan, pension fund or endowment fund is not required.
All of the securities reported in this Schedule 13G are directly owned by advisory clients of Gumshoe Capital Management LLC. None of those advisory clients may be deemed to beneficially own more than 5% of the Common Stock, $0.01 par value.
Item 7.
Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person.
If a parent holding company has filed this schedule, pursuant to Rule 13d-1(b)(ii)(G), so indicate under Item 3(g) and attach an exhibit stating the identity and the Item 3 classification of the relevant subsidiary. If a parent holding company has filed this schedule pursuant to Rule 13d-1(c) or Rule 13d-1(d), attach an exhibit stating the identification of the relevant subsidiary.
Please see Exhibit B attached hereto.
Item 8.
Identification and Classification of Members of the Group.
Not Applicable
Item 9.
Notice of Dissolution of Group.
Not Applicable
Item 10.
Certifications:
By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under ?? 240.14a-11.
SIGNATURE
After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.
Gumshoe Capital Management LLC
Signature:
By: /s/ Laura Latushkin
Name/Title:
Laura Latushkin / Chief Compliance Officer and Chief Operating Officer
Date:
08/14/2025
Gumshoe Master Fund LP
Signature:
By: /s/ Laura Latushki
Name/Title:
Laura Latushkin / Chief Compliance Officer and Chief Operating Officer
Date:
08/14/2025
Gumshoe Capital GP LLC
Signature:
By: /s/ Laura Latushk
Name/Title:
Laura Latushkin / Chief Compliance Officer and Chief Operating Officer
Date:
08/14/2025
Eric Wolff
Signature:
By: /s/ Eric Wolff
Name/Title:
Eric Wolff
Date:
08/14/2025
Comments accompanying signature: * Each Reporting Person disclaims beneficial ownership of the reported securities except to the extent of his, her or its pecuniary interest therein, and this report shall not be deemed an admission that such Reporting Person is the beneficial owner of the securities for purposes of Section 16 of the Securities Exchange Act of 1934, as amended, or for any other purpose.
To the extent that "ownership of 5 percent or less of a class" was indicated in Item 5, such response only applies to the Reporting Person(s) that indicated elsewhere herein that it beneficially owns five percent (5%) or less of the class.
Exhibit Information
Exhibit A - Joint Filing Agreement
Exhibit B - Control Person Identification
Who filed the Schedule 13G/A for Compass Minerals (CMP)?
Gumshoe Capital Management LLC, Gumshoe Master Fund LP, Gumshoe Capital GP LLC, and Eric Wolff are the reporting persons.
How many Compass Minerals (CMP) shares are reported and what percent do they represent?
1,324,134 shares are reported, representing 3.2% of the outstanding common stock.
Do the reporting persons claim control or influence over Compass Minerals (CMP)?
No. The filing includes a certification that the securities were not acquired to change or influence control and is submitted on Schedule 13G (passive).
Who holds the reported shares according to the filing?
The filing states the securities are directly owned by advisory clients of Gumshoe Capital Management LLC.
What voting or dispositive powers are reported for the stake in CMP?
The reporting persons disclose shared voting power and shared dispositive power of the 1,324,134 shares, and no sole voting or dispositive power.
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