A method, computer program product, and computing system for compartmentalizing a LUN into a plurality of portions that are each assigned to one or more hosts. An ownership tracking structure is maintained for the LUN, wherein the ownership tracking structure includes a data entry associated with each of the plurality of portions within the LUN. One or more properties of the ownership tracking structure are monitored to determine if the ownership tracking structure needs to be compressed. If the ownership tracking structure needs to be compressed, one or more actions are taken to reduce the size of the ownership tracking structure.