Steel Partners Holdings is a hedge fund that rules with an iron fist. The activist fund invests in a variety of businesses, from banks to hot dog restaurants. It often takes positions on those companies' boards and is not bashful about making sweeping changes within those enterprises. The firm also likes to hold on to its portfolio assets for the long term. Among its holdings is Utah-based WebBank, which offers commercial, consumer, and mortgage loans, as well as federally guaranteed USDA and SBA loans. With some $4 billion in assets under management, Steel Partners also owns portions of Unisys, Aerojet Rocketdyne, Selectica, SL Industries, and Nathan's Famous. Activist investor Warren Lichtenstein heads the firm.