Steelhead Partners LLC — Inside Their 13F Portfolio

CIK: 0001133521

ContrarianSector-focusedQuality / disciplined sizing

Total reported value

$1.4B

Reporting period: 2026-03-31 · Number of holdings: 24

STEELHEAD PARTNERS LLC disclosed 24 holdings in its latest 13F filing for the period ending 2026-03-31, with total reported value of $1.4B and a quarterly turnover rate of 76.5%.

Browse other institutions with $1B to $10B AUM Browse other institutions starting with "S"

Personality snowflake

Concentration: 23.45
Portfolio Stability: 76.52
Momentum/Contrarian: 0
Sector conviction: 98.13
Diversification: 48
Sizing Uniformity: 93.48

Steelhead Partners LLC's disclosed holdings carry a Herfindahl concentration index of 0.059 — mathematically equivalent to about 17 equally-sized positions, close to its 24 actual disclosed holdings. Value is spread relatively evenly across the portfolio rather than concentrated in a handful of names.

Position sizes are fairly uniform across the portfolio (a coefficient of variation of 0.65), suggesting a disciplined, rules-based approach to how much capital goes into each idea.

No strong tilt toward either adding to existing winners or initiating outsized new positions was observed in the latest reported quarter.

Recent moves

Trim BL 1 06-01-29
-63.6%　-$55.2M
Add UBER 0.875 12-01-28 2028
+81.8%　$49.3M
Trim BILL 0 04-01-30
-54.1%　-$37.4M
Add AEIS 2.5 09-15-28
+1.3%　$31.9M
Trim AKAM 0.375 09-01-27
-41.3%　-$22.2M
Add VRNS 1 09-15-29
+166.7%　$21.0M

Holdings Map

New buyAddUnchangedTrim

Top 10 holdings by weight

Full holdings list this quarter

#	Ticker	Issuer	Asset Subclass	Weight	Weight Change	Shares Change
1	BBIO 2.5 03-15-27	Bridgebio Pharma INC	Stock-Healthcare	9.10%	+9.10%	NEW
2	ON 0 05-01-27	On Semiconductor CORP	Stock-Tech	9.06%	+0.23%	-2.30%
3	UBER 0.875 12-01-28 2028	Uber Technologies INC	Stock-Industrials	8.69%	+3.41%	+81.82%
4	AEIS 2.5 09-15-28	Advanced Energy Ind	Stock-Industrials	7.01%	+2.16%	+1.25%
5	AKAM 1.125 02-15-29	Akamai Technologies INC	Stock-Tech	6.33%	-0.08%	-12.00%
6	LCII 3 03-01-30	Lci Industries	Stock-Consumer Disc	5.98%	+5.98%	NEW
7	ALRM 2.25 06-01-29	Alarm.com Hldgs INC	Stock-Other	5.98%	-0.36%	—
8	NET 0 08-15-26	Cloudflare INC	Stock-Tech	5.91%	-1.37%	-16.67%
9	ALNY 1 09-15-27	Alnylam Pharmaceuticals	Stock-Healthcare	5.54%	+5.54%	NEW
10	DXCM 0.375 05-15-28	Dexcom INC	Stock-Healthcare	5.50%	-0.14%	—
11	NTNX 0.25 10-01-27	Nutanix INC	Stock-Tech	4.77%	-0.64%	—
12	WK 1.25 08-15-28	Workiva INC	Stock-Tech	3.88%	+3.88%	NEW
13	AKAM 0.375 09-01-27	Akamai Technologies INC	Stock-Tech	3.34%	-1.73%	-41.31%
14	IRTC 1.5 09-01-29	Irhythm Holdings INC	Stock-Healthcare	2.85%	+2.85%	NEW
15	ITRI 1.375 07-15-30	Itron INC	Stock-Tech	2.54%	-0.46%	-12.50%
16	VRNS 1 09-15-29	Varonis System INC	Stock-Tech	2.51%	+1.48%	+166.67%
17	POST 2.5 08-15-27	Post Holdings INC	Stock-Consumer Staples	2.27%	+2.27%	NEW
18	BILL 0 04-01-30	Bill Holdings INC	Stock-Tech	2.15%	-2.82%	-54.11%
19	BL 1 06-01-29	Blackline INC	Stock-Tech	1.89%	-4.13%	-63.64%
20	PENG 2 08-15-30	Penguin Solutions INC	Stock-Other	1.66%	-0.61%	-23.33%
21	HALO 0.25 03-01-27	Halozyme Therapeutics In	Stock-Healthcare	1.43%	+1.43%	NEW
22	LMAT 2.5 02-01-30	Lemaitre Vascular INC	Stock-Other	0.97%	+0.09%	—
23	FIVN 1 03-15-29	Five9 INC	Stock-Tech	0.56%	-1.11%	-64.00%
24	VOYG	Voyager Technologies Inc-a	Stock-Other	0.07%	-0.01%	—

Portfolio Performance

Performance for Q3 2026

—

Performance Last 4 Quarters

—

Based on 0 months of available history

Based on 0% of reported portfolio value with available pricing

Stdev: —
Beta: —
Alpha: —
Max Drawdown: —
Annualized Perf: —
Batting Avg vs S&P: —
Sortino: —
Stutzer: —
Treynor: —
Sterling: —
Calmar: —
Information Ratio: —
Tracking Error: —
Stdev Down: —
Winning Months %: —
Losing Months %: —
Best 12 Months: —
Worst 12 Months: —
Efficiency Ratio: —
Sharpe: —
Stdev Sectors: +15.9%
Skewness: —
Kurtosis: —
Upside Potential: —

Reported value over time

Sector allocation

Sector allocation over time

Quarterly history

Period	Holdings	Total value	Stability	Top holdings
2026-03-31	24	$1.4B	77	1BBIO 2.5 03-15-27 2ON 0 05-01-27 3UBER 0.875 12-01-28 2028 Top holdings2026-03-31 1.BBIO 2.5 03-15-27 2.ON 0 05-01-27 3.UBER 0.875 12-01-28 2028 4.AEIS 2.5 09-15-28 5.AKAM 1.125 02-15-29 6.LCII 3 03-01-30 7.ALRM 2.25 06-01-29 8.NET 0 08-15-26 9.ALNY 1 09-15-27 10.DXCM 0.375 05-15-28
2025-12-31	24	$1.4B	64	1ON 0 05-01-27 2NET 0 08-15-26 3AKAM 1.125 02-15-29 Top holdings2025-12-31 1.ON 0 05-01-27 2.NET 0 08-15-26 3.AKAM 1.125 02-15-29 4.ALRM 2.25 06-01-29 5.BL 1 06-01-29 6.DXCM 0.375 05-15-28 7.NTNX 0.25 10-01-27 8.UBER 0.875 12-01-28 2028 9.JAZZ 2 06-15-26 10.AKAM 0.375 09-01-27
2025-09-30	30	$1.7B	76	1HALO 0.25 03-01-27 2ITRI 0 03-15-26 3AEIS 2.5 09-15-28 Top holdings2025-09-30 1.HALO 0.25 03-01-27 2.ITRI 0 03-15-26 3.AEIS 2.5 09-15-28 4.UBER 0 12-15-25 5.BL 1 06-01-29 6.ALRM 2.25 06-01-29 7.UBER 0.875 12-01-28 2028 8.DXCM 0.375 05-15-28 9.SPOT 0 03-15-26 10.SEALTD 0.25 09-15-26
2025-06-30	36	$2.0B	0	1SPOT 0 03-15-26 2ITRI 0 03-15-26 3LITE 0.5 12-15-26 Top holdings2025-06-30 1.SPOT 0 03-15-26 2.ITRI 0 03-15-26 3.LITE 0.5 12-15-26 4.ALNY 1 09-15-27 5.UBER 0 12-15-25 6.DXCM 0.375 05-15-28 7.BL 1 06-01-29 8.AEIS 2.5 09-15-28 9.UBER 0.875 12-01-28 2028 10.ALRM 2.25 06-01-29
2025-03-31	31	$1.7B	100	1SPOT 0 03-15-26 2SEALTD 0.25 09-15-26 3ITRI 0 03-15-26 Top holdings2025-03-31 1.SPOT 0 03-15-26 2.SEALTD 0.25 09-15-26 3.ITRI 0 03-15-26 4.NET 0 08-15-26 5.LITE 0.5 12-15-26 6.AKAM 0.375 09-01-27 7.UBER 0 12-15-25 8.DXCM 0.375 05-15-28 9.AEIS 2.5 09-15-28 10.UBER 0.875 12-01-28 2028
2024-12-31	45	$2.0B	0	1SPOT 0 03-15-26 2SEALTD 0.25 09-15-26 3LITE 0.5 12-15-26 Top holdings2024-12-31 1.SPOT 0 03-15-26 2.SEALTD 0.25 09-15-26 3.LITE 0.5 12-15-26 4.ITRI 0 03-15-26 5.LUV 1.25 05-01-25 6.NET 0 08-15-26 7.UBER 0 12-15-25 8.DBX 0 03-01-26 9.SHOPCN 0.125 11-01-25 10.CFLT 0 01-15-27
2024-09-30	49	$1.9B	0	1SEALTD 0.25 09-15-26 2SPOT 0 03-15-26 3NET 0 08-15-26 Top holdings2024-09-30 1.SEALTD 0.25 09-15-26 2.SPOT 0 03-15-26 3.NET 0 08-15-26 4.ITRI 0 03-15-26 5.LUV 1.25 05-01-25 6.DXCM 0.25 11-15-25 7.UBER 0 12-15-25 8.CFLT 0 01-15-27 9.LITE 0.5 12-15-26 10.IDCC 3.5 06-01-27
2024-06-30	48	$1.9B	0	1SEALTD 0.25 09-15-26 2DXCM 0.25 11-15-25 3NET 0 08-15-26 Top holdings2024-06-30 1.SEALTD 0.25 09-15-26 2.DXCM 0.25 11-15-25 3.NET 0 08-15-26 4.SPOT 0 03-15-26 5.SRPT 1.25 09-15-27 6.UBER 0 12-15-25 7.VECO 2.875 06-01-29 8.CFLT 0 01-15-27 9.TRIP 0.25 04-01-26 10.IONS 1.75 06-15-28
2024-03-31	46	$1.9B	0	1SEALTD 0.25 09-15-26 2SPOT 0 03-15-26 3NET 0 08-15-26 Top holdings2024-03-31 1.SEALTD 0.25 09-15-26 2.SPOT 0 03-15-26 3.NET 0 08-15-26 4.DXCM 0.25 11-15-25 5.SEDG 0 09-15-25 6.IDCC 2 06-01-24 7.TRIP 0.25 04-01-26 8.IONS 0 04-01-26 9.FVRR 0 11-01-25 10.BOX 0 01-15-26
2023-12-31	49	$1.9B	0	1SPOT 0 03-15-26 2SEALTD 0.25 09-15-26 3AXON 0.5 12-15-27 Top holdings2023-12-31 1.SPOT 0 03-15-26 2.SEALTD 0.25 09-15-26 3.AXON 0.5 12-15-27 4.NET 0 08-15-26 5.WGO 1.5 04-01-25 6.IDCC 2 06-01-24 7.ALRM 0 01-15-26 8.IONS 0 04-01-26 9.BILL 0 12-01-25 10.CFLT 0 01-15-27
2023-09-30	49	$1.7B	0	1SPOT 0 03-15-26 2SEALTD 0.25 09-15-26 3WGO 1.5 04-01-25 Top holdings2023-09-30 1.SPOT 0 03-15-26 2.SEALTD 0.25 09-15-26 3.WGO 1.5 04-01-25 4.ZS 0.125 07-01-25 5.IONS 0 04-01-26 6.ALRM 0 01-15-26 7.ALNY 1 09-15-27 8.TRIP 0.25 04-01-26 9.BILL 0 12-01-25 10.FVRR 0 11-01-25
2023-06-30	46	$1.6B	0	1SPOT 0 03-15-26 2SEALTD 0.25 09-15-26 3WGO 1.5 04-01-25 Top holdings2023-06-30 1.SPOT 0 03-15-26 2.SEALTD 0.25 09-15-26 3.WGO 1.5 04-01-25 4.DOCU 0 01-15-24 5.ZS 0.125 07-01-25 6.BILL 0 12-01-25 7.ALRM 0 01-15-26 8.FVRR 0 11-01-25 9.TRIP 0.25 04-01-26 10.NET 0 08-15-26
2023-03-31	49	$1.5B	0	1SPOT 0 03-15-26 2OKTA 0.375 06-15-26 3DOCU 0 01-15-24 Top holdings2023-03-31 1.SPOT 0 03-15-26 2.OKTA 0.375 06-15-26 3.DOCU 0 01-15-24 4.BILL 0 12-01-25 5.ALRM 0 01-15-26 6.SEALTD 0.25 09-15-26 7.NET 0 08-15-26 8.PTCT 1.5 09-15-26 9.JAZZ 2 06-15-26 10.FVRR 0 11-01-25
2022-12-31	41	$1.4B	0	1SPOT 0 03-15-26 2ALRM 0 01-15-26 3NVCR 0 11-01-25 Top holdings2022-12-31 1.SPOT 0 03-15-26 2.ALRM 0 01-15-26 3.NVCR 0 11-01-25 4.JAZZ 2 06-15-26 5.DOCU 0 01-15-24 6.OKTA 0.375 06-15-26 7.PTCT 1.5 09-15-26 8.CYBR 0 11-15-24 9.WGO 1.5 04-01-25 10.FVRR 0 11-01-25
2022-09-30	42	$1.4B	0	1SPOT 0 03-15-26 2ZS 0.125 07-01-25 3ZEN 0.625 06-15-25 Top holdings2022-09-30 1.SPOT 0 03-15-26 2.ZS 0.125 07-01-25 3.ZEN 0.625 06-15-25 4.NET 0 08-15-26 5.VRNS 1.25 08-15-25 6.DOCU 0 01-15-24 7.UPWK 0.25 08-15-26 8.PTCT 1.5 09-15-26 9.NVCR 0 11-01-25 10.WGO 1.5 04-01-25
2022-06-30	40	$1.2B	0	1SPOT 0 03-15-26 2OKTA 0.125 09-01-25 3DOCU 0 01-15-24 Top holdings2022-06-30 1.SPOT 0 03-15-26 2.OKTA 0.125 09-01-25 3.DOCU 0 01-15-24 4.CYBR 0 11-15-24 5.ZS 0.125 07-01-25 6.ZEN 0.625 06-15-25 7.AAWW 1.875 06-01-24 8.WGO 1.5 04-01-25 9.FVRR 0 11-01-25 10.JAZZ 1.5 08-15-24
2022-03-31	41	$1.5B	0	1OKTA 0.125 09-01-25 2CYBR 0 11-15-24 3ZEN 0.625 06-15-25 Top holdings2022-03-31 1.OKTA 0.125 09-01-25 2.CYBR 0 11-15-24 3.ZEN 0.625 06-15-25 4.TWTR 0.25 06-15-24 5.SPOT 0 03-15-26 6.IDCC 2 06-01-24 7.NVCR 0 11-01-25 8.ZS 0.125 07-01-25 9.WGO 1.5 04-01-25 10.FVRR 0 11-01-25
2021-12-31	39	$1.4B	0	1OKTA 0.125 09-01-25 2MNDT 0.875 06-01-24 3IDCC 2 06-01-24 Top holdings2021-12-31 1.OKTA 0.125 09-01-25 2.MNDT 0.875 06-01-24 3.IDCC 2 06-01-24 4.TWTR 0.25 06-15-24 5.CYBR 0 11-15-24 6.SPLK 0.5 09-15-23 7.WGO 1.5 04-01-25 8.ZS 0.125 07-01-25 9.SEALTD 0.25 09-15-26 10.ZEN 0.625 06-15-25
2021-09-30	40	$1.3B	0	1OKTA 0.125 09-01-25 2CYBR 0 11-15-24 3MNDT 0.875 06-01-24 Top holdings2021-09-30 1.OKTA 0.125 09-01-25 2.CYBR 0 11-15-24 3.MNDT 0.875 06-01-24 4.SPLK 0.5 09-15-23 5.ZS 0.125 07-01-25 6.IDCC 2 06-01-24 7.WGO 1.5 04-01-25 8.TWTR 0.25 06-15-24 9.ZEN 0.625 06-15-25 10.SEALTD 0.25 09-15-26
2021-06-30	43	$1.5B	100	1OKTA 0.125 09-01-25 2PANW 0.75 07-01-23 3SPLK 0.5 09-15-23 Top holdings2021-06-30 1.OKTA 0.125 09-01-25 2.PANW 0.75 07-01-23 3.SPLK 0.5 09-15-23 4.PANW 0.375 06-01-25 5.HTGC 4.375 02-01-22 6.CYBR 0 11-15-24 7.MDB 0.25 01-15-26 8.IDCC 2 06-01-24 9.ZEN 0.625 06-15-25 10.MNDT 0.875 06-01-24
2021-03-31	39	$1.3B	68	1OKTA 0.125 09-01-25 2SPLK 0.5 09-15-23 3PANW 0.75 07-01-23 Top holdings2021-03-31 1.OKTA 0.125 09-01-25 2.SPLK 0.5 09-15-23 3.PANW 0.75 07-01-23 4.MDB 0.25 01-15-26 5.HTGC 4.375 02-01-22 6.CYBR 0 11-15-24 7.MNDT 0.875 06-01-24 8.WK 1.125 08-15-26 9.IDCC 2 06-01-24 10.WB 1.25 11-15-22
2020-12-31	42	$1.5B	55	1OKTA 0.125 09-01-25 2BL 0.125 08-01-24 3PDD 0 12-01-25 Top holdings2020-12-31 1.OKTA 0.125 09-01-25 2.BL 0.125 08-01-24 3.PDD 0 12-01-25 4.IDCC 2 06-01-24 5.CYBR 0 11-15-24 6.LITE 0.5 12-15-26 7.PANW 0.75 07-01-23 8.IONS 0.125 12-15-24 9.MNDT 0.875 06-01-24 10.LGND 0.75 05-15-23
2020-09-30	42	$1.2B	63	1OKTA 0.125 09-01-25 2BL 0.125 08-01-24 3IDCC 2 06-01-24 Top holdings2020-09-30 1.OKTA 0.125 09-01-25 2.BL 0.125 08-01-24 3.IDCC 2 06-01-24 4.LGND 0.75 05-15-23 5.AYX 0.5 08-01-24 6.WDAY 0.25 10-01-22 7.HTGC 4.375 02-01-22 8.PANW 0.75 07-01-23 9.WB 1.25 11-15-22 10.WK 1.125 08-15-26
2020-06-30	40	$814.5M	68	1WDAY 0.25 10-01-22 2LGND 0.75 05-15-23 3TWTR 0.25 06-15-24 Top holdings2020-06-30 1.WDAY 0.25 10-01-22 2.LGND 0.75 05-15-23 3.TWTR 0.25 06-15-24 4.HTGC 4.375 02-01-22 5.WB 1.25 11-15-22 6.GSBD 4.5 04-01-22 7.TWTR 1 09-15-21 8.KPTI 3 10-15-25 9.PSTG 0.125 04-15-23 10.MOMO 1.25 07-01-25
2020-03-31	44	$1.0B	51	1MRVL 1.125 12-01-20 2DXCM 0.75 12-01-23 3WDAY 0.25 10-01-22 Top holdings2020-03-31 1.MRVL 1.125 12-01-20 2.DXCM 0.75 12-01-23 3.WDAY 0.25 10-01-22 4.MRVL 0.75 09-01-21 5.LGND 0.75 05-15-23 6.TWTR 0.25 06-15-24 7.GSBD 4.5 04-01-22 8.WB 1.25 11-15-22 9.HTGC 4.375 02-01-22 10.SPLK 0.5 09-15-23
2019-12-31	47	$1.1B	58	1TWTR 0.25 06-15-24 2TSLA 2 05-15-24 3LGND 0.75 05-15-23 Top holdings2019-12-31 1.TWTR 0.25 06-15-24 2.TSLA 2 05-15-24 3.LGND 0.75 05-15-23 4.DXCM 0.75 12-01-23 5.MRVL 0.75 09-01-21 6.GSBD 4.5 04-01-22 7.HTGC 4.375 02-01-22 8.NTNX 0 01-15-23 9.SRPT 1.5 11-15-24 10.FOR 3.75 03-01-20
2019-09-30	47	$1.1B	49	1TWTR 0.25 06-15-24 2IONS 1 11-15-21 3LGND 0.75 05-15-23 Top holdings2019-09-30 1.TWTR 0.25 06-15-24 2.IONS 1 11-15-21 3.LGND 0.75 05-15-23 4.GSBD 4.5 04-01-22 5.TSLX 4.5 12-15-19 6.HTGC 4.375 02-01-22 7.MRVL 0.75 09-01-21 8.FOR 3.75 03-01-20 9.NMFC 5.75 08-15-23 10.SPLK 0.5 09-15-23
2019-06-30	48	$1.3B	59	1SEALTD 2.25 07-01-23 2IONS 1 11-15-21 3Z 1.5 07-01-23 Top holdings2019-06-30 1.SEALTD 2.25 07-01-23 2.IONS 1 11-15-21 3.Z 1.5 07-01-23 4.SRPT 1.5 11-15-24 5.TSLX 4.5 12-15-19 6.TWTR 0.25 09-15-19 7.TWTR 0.25 06-15-24 8.LGND 0.75 05-15-23 9.CHGG 0.25 05-15-23 10.MRVL 1.125 12-01-20
2019-03-31	44	$1.1B	46	1TWTR 0.25 09-15-19 2IONS 1 11-15-21 3Z 1.5 07-01-23 Top holdings2019-03-31 1.TWTR 0.25 09-15-19 2.IONS 1 11-15-21 3.Z 1.5 07-01-23 4.TSLX 4.5 12-15-19 5.SRPT 1.5 11-15-24 6.IDCC 1.5 03-01-20 7.FOR 3.75 03-01-20 8.MRVL 0.75 09-01-21 9.MRVL 1.125 12-01-20 10.VER 3.75 12-15-20
2018-12-31	49	$1.0B	38	1TWTR 0.25 09-15-19 2IONS 1 11-15-21 3TSLX 4.5 12-15-19 Top holdings2018-12-31 1.TWTR 0.25 09-15-19 2.IONS 1 11-15-21 3.TSLX 4.5 12-15-19 4.IDCC 1.5 03-01-20 5.Z 1.5 07-01-23 6.FOR 3.75 03-01-20 7.QDEL 3.25 12-15-20 8.COVPHA 3.25 06-01-22 9.MRVL 0.75 09-01-21 10.NMFC 5 06-15-19
2018-09-30	49	$1.1B	40	1TWTR 0.25 09-15-19 2COVPHA 3.25 06-01-22 3QDEL 3.25 12-15-20 Top holdings2018-09-30 1.TWTR 0.25 09-15-19 2.COVPHA 3.25 06-01-22 3.QDEL 3.25 12-15-20 4.IDCC 1.5 03-01-20 5.IONS 1 11-15-21 6.TSLX 4.5 12-15-19 7.MRVL 1.125 12-01-20 8.DXCM 0.75 05-15-22 9.FOR 3.75 03-01-20 10.CIEN 3.75 10-15-18 *
2018-06-30	53	$1.1B	31	1TWTR 0.25 09-15-19 2VER 3 08-01-18 3COVPHA 3.25 06-01-22 Top holdings2018-06-30 1.TWTR 0.25 09-15-19 2.VER 3 08-01-18 3.COVPHA 3.25 06-01-22 4.IDCC 1.5 03-01-20 5.CIEN 3.75 10-15-18 * 6.TSLX 4.5 12-15-19 7.MRVL 1.125 12-01-20 8.AMD 2.125 09-01-26 9.IONS 1 11-15-21 10.TCOM 1.99 07-01-25
2018-03-31	55	$1.2B	37	1TWTR 0.25 09-15-19 2PANW 0 07-01-19 3VER 3 08-01-18 Top holdings2018-03-31 1.TWTR 0.25 09-15-19 2.PANW 0 07-01-19 3.VER 3 08-01-18 4.CIEN 3.75 10-15-18 * 5.IDCC 1.5 03-01-20 6.TSLX 4.5 12-15-19 7.MRVL 1.125 12-01-20 8.COVPHA 3.25 06-01-22 9.TCOM 1.99 07-01-25 10.NMFC 5 06-15-19
2017-12-31	59	$1.2B	38	1TWTR 0.25 09-15-19 2PANW 0 07-01-19 3NOW 0 11-01-18 Top holdings2017-12-31 1.TWTR 0.25 09-15-19 2.PANW 0 07-01-19 3.NOW 0 11-01-18 4.VER 3 08-01-18 5.MRVL 1.125 12-01-20 6.TSLX 4.5 12-15-19 7.IIVI 0.5 12-15-36 8.CIEN 3.75 10-15-18 * 9.GSATUSD 10.NMFC 5 06-15-19
2017-09-30	59	$1.1B	35	1PANW 0 07-01-19 2TWTR 0.25 09-15-19 3VER 3 08-01-18 Top holdings2017-09-30 1.PANW 0 07-01-19 2.TWTR 0.25 09-15-19 3.VER 3 08-01-18 4.NOW 0 11-01-18 5.MRVL 1.125 12-01-20 6.TSLX 4.5 12-15-19 7.CIEN 3.75 10-15-18 * 8.GSATUSD 9.NMFC 5 06-15-19 10.MDSO 1 08-01-18
2017-06-30	59	$1.1B	38	1VER 3 08-01-18 2PANW 0 07-01-19 3GSATUSD Top holdings2017-06-30 1.VER 3 08-01-18 2.PANW 0 07-01-19 3.GSATUSD 4.NOW 0 11-01-18 5.MRVL 1.125 12-01-20 6.TSLX 4.5 12-15-19 7.INFN 1.75 06-01-18 8.WBMD 1.5 12-01-20 9.NMFC 5 06-15-19 10.MDSO 1 08-01-18
2017-03-31	56	$1.1B	32	1VER 3 08-01-18 2MRVL 1.125 12-01-20 3PANW 0 07-01-19 Top holdings2017-03-31 1.VER 3 08-01-18 2.MRVL 1.125 12-01-20 3.PANW 0 07-01-19 4.TSLX 4.5 12-15-19 5.MELI 2.25 07-01-19 6.GSATUSD 7.AMD 2.125 09-01-26 8.INFN 1.75 06-01-18 9.ARCC 4.375 01-15-19 10.WBMD 1.5 12-01-20
2016-12-31	63	$1.0B	39	1VER 3 08-01-18 2PANW 0 07-01-19 3MRVL 1.125 12-01-20 Top holdings2016-12-31 1.VER 3 08-01-18 2.PANW 0 07-01-19 3.MRVL 1.125 12-01-20 4.INFN 1.75 06-01-18 5.NOW 0 11-01-18 6.GSATUSD 7.AMD 2.125 09-01-26 8.MELI 2.25 07-01-19 9.INVH 3 07-01-19 10.WBMD 1.5 12-01-20
2016-09-30	60	$1.0B	28	1VER 3 08-01-18 2PANW 0 07-01-19 3NOW 0 11-01-18 Top holdings2016-09-30 1.VER 3 08-01-18 2.PANW 0 07-01-19 3.NOW 0 11-01-18 4.INFN 1.75 06-01-18 5.MELI 2.25 07-01-19 6.TWTR 0.25 09-15-19 7.LNKD 0.5 11-01-19 8.INVH 3 07-01-19 9.WDAY 0.75 07-15-18 10.NVRO 1.75 06-01-21
2016-06-30	61	$971.0M	31	1VER 3 08-01-18 2INFN 1.75 06-01-18 3NOW 0 11-01-18 Top holdings2016-06-30 1.VER 3 08-01-18 2.INFN 1.75 06-01-18 3.NOW 0 11-01-18 4.PANW 0 07-01-19 5.TWTR 0.25 09-15-19 6.IIVI 0.5 12-15-33 7.LNKD 0.5 11-01-19 8.GSATUSD 9.WDAY 0.75 07-15-18 10.INVH 3 07-01-19
2016-03-31	57	$1.0B	47	1INFN 1.75 06-01-18 2PANW 0 07-01-19 3VER 3 08-01-18 Top holdings2016-03-31 1.INFN 1.75 06-01-18 2.PANW 0 07-01-19 3.VER 3 08-01-18 4.LNKD 0.5 11-01-19 5.GSATUSD 6.TWTR 0.25 09-15-19 7.NOW 0 11-01-18 8.IIVI 0.5 12-15-33 9.WBMD 1.5 12-01-20 10.WDAY 0.75 07-15-18
2015-12-31	65	$1.0B	30	1INFN 1.75 06-01-18 2PANW 0 07-01-19 3VER 3 08-01-18 Top holdings2015-12-31 1.INFN 1.75 06-01-18 2.PANW 0 07-01-19 3.VER 3 08-01-18 4.LNKD 0.5 11-01-19 5.NOW 0 11-01-18 6.RFPUSD 7.TWTR 0.25 09-15-19 8.WDAY 0.75 07-15-18 9.GSATUSD 10.WBMD 2.5 01-31-18
2015-09-30	57	$947.2M	43	1INFN 1.75 06-01-18 2PANW 0 07-01-19 3RFPUSD Top holdings2015-09-30 1.INFN 1.75 06-01-18 2.PANW 0 07-01-19 3.RFPUSD 4.VER 3 08-01-18 5.GSATUSD 6.NOW 0 11-01-18 7.ARCC 5.75 02-01-16 8.WDAY 0.75 07-15-18 9.WBMD 2.5 01-31-18 10.IIVI 0.5 12-15-33
2015-06-30	59	$1.0B	54	1RFPUSD 2INFN 1.75 06-01-18 3GSATUSD Top holdings2015-06-30 1.RFPUSD 2.INFN 1.75 06-01-18 3.GSATUSD 4.52729N 5.WBMD 2.5 01-31-18 6.NOW 0 11-01-18 7.RMBS 1.125 08-15-18 8.WDAY 0.75 07-15-18 9.VER 3 08-01-18 10.ARCC 5.75 02-01-16
2015-03-31	51	$1.3B	36	1RFPUSD 2GSATUSD 3INFN 1.75 06-01-18 Top holdings2015-03-31 1.RFPUSD 2.GSATUSD 3.INFN 1.75 06-01-18 4.52729N 5.AMAG 2.5 02-15-19 6.NOW 0 11-01-18 7.WBMD 2.5 01-31-18 8.WDAY 0.75 07-15-18 9.SFLY 0.25 05-15-18 10.RMBS 1.125 08-15-18
2014-12-31	59	$1.3B	46	1RFPUSD 2GSATUSD352729N Top holdings2014-12-31 1.RFPUSD 2.GSATUSD 3.52729N 4.INFN 1.75 06-01-18 5.AMAG 2.5 02-15-19 6.WBMD 2.5 01-31-18 7.NOW 0 11-01-18 8.MDSO 1 08-01-18 9.IDCC 2.5 03-15-16 10.ANRZQEUR
2014-09-30	67	$1.2B	42	1RFPUSD 2GSATUSD352729N Top holdings2014-09-30 1.RFPUSD 2.GSATUSD 3.52729N 4.INFN 1.75 06-01-18 5.AMAG 2.5 02-15-19 6.ANRZQEUR 7.WBMD 2.5 01-31-18 8.RMBS 1.125 08-15-18 9.VER 3 08-01-18 10.MFIC 5.75 01-15-16
2014-06-30	69	$1.3B	53	1RFPUSD 2GSATUSD352729N Top holdings2014-06-30 1.RFPUSD 2.GSATUSD 3.52729N 4.MU 1.625 02-15-33 E 5.ANRZQEUR 6.JBLU 6.75 10-15-39 B-D 7.INFN 1.75 06-01-18 8.WBMD 2.5 01-31-18 9.AMAG 2.5 02-15-19 10.MFIC 5.75 01-15-16
2014-03-31	69	$1.2B	38	1RFPUSD252729N3ANRZQEUR Top holdings2014-03-31 1.RFPUSD 2.52729N 3.ANRZQEUR 4.MU 1.625 02-15-33 E 5.MFIC 5.75 01-15-16 6.WBMD 2.5 01-31-18 7.JBLU 6.75 10-15-39 B-D 8.AMAG 2.5 02-15-19 9.IDCC 2.5 03-15-16 10.IIVI 5 10-15-29
2013-12-31	78	$1.1B	37	1RFPUSD252729N3ANRZQEUR Top holdings2013-12-31 1.RFPUSD 2.52729N 3.ANRZQEUR 4.LLL 3 08-01-35 5.IDCC 2.5 03-15-16 6.JBLU 6.75 10-15-39 B-D 7.CCOI 1 06-15-27 8.IIVI 5 10-15-29 9.WBMD 2.5 01-31-18 10.MFIC 5.75 01-15-16
2013-09-30	86	$1.0B	41	1RFPUSD252729N3ANRZQEUR Top holdings2013-09-30 1.RFPUSD 2.52729N 3.ANRZQEUR 4.IDCC 2.5 03-15-16 5.LLL 3 08-01-35 6.CCOI 1 06-15-27 7.JBLU 6.75 10-15-39 B-D 8.RMBS 5 06-15-14 9.IIVI 5 10-15-29 10.29259G
2013-06-30	113	$1.1B	—	1RFPUSD252729N3IDCC 2.5 03-15-16 Top holdings2013-06-30 1.RFPUSD 2.52729N 3.IDCC 2.5 03-15-16 4.LYV 2.875 07-15-27 5.ANRZQEUR 6.RMBS 5 06-15-14 7.JBLU 6.75 10-15-39 B-D 8.CCOI 1 06-15-27 9.LLL 3 08-01-35 10.PLAB 3.25 04-01-16

Holding changes this quarter

Steelhead Partners LLC's most significant position changes for 2026-03-31: New buy: Bridgebio Pharma INC (BBIO 2.5 03-15-27); New buy: Lci Industries (LCII 3 03-01-30); New buy: Alnylam Pharmaceuticals (ALNY 1 09-15-27); Sold out: Jazz Investments I LTD (JAZZ 2 06-15-26); Sold out: Box INC (BOX 0 01-15-26).

Position changes disclosed by Steelhead Partners LLC for the quarter ending 2026-03-31, including ticker, issuer, weight change, shares change, and action
#	Ticker	Issuer	Weight Change	Shares Change	Action
1	UBER 0.875 12-01-28 2028	Uber Technologies INC	+3.4%	+81.82%	Add
2	AEIS 2.5 09-15-28	Advanced Energy Ind	+2.2%	+1.25%	Add
3	VRNS 1 09-15-29	Varonis System INC	+1.5%	+166.67%	Add
4	ON 0 05-01-27	On Semiconductor CORP	+0.2%	-2.30%	Trim
5	LMAT 2.5 02-01-30	Lemaitre Vascular INC	+0.1%	—	Unchanged
6	VOYG	Voyager Technologies Inc-a	0%	—	Unchanged
7	AKAM 1.125 02-15-29	Akamai Technologies INC	-0.1%	-12.00%	Trim
8	DXCM 0.375 05-15-28	Dexcom INC	-0.1%	—	Unchanged
9	ALRM 2.25 06-01-29	Alarm.com Hldgs INC	-0.4%	—	Unchanged
10	ITRI 1.375 07-15-30	Itron INC	-0.5%	-12.50%	Trim
11	PENG 2 08-15-30	Penguin Solutions INC	-0.6%	-23.33%	Trim
12	NTNX 0.25 10-01-27	Nutanix INC	-0.6%	—	Unchanged
13	FIVN 1 03-15-29	Five9 INC	-1.1%	-64.00%	Trim
14	NET 0 08-15-26	Cloudflare INC	-1.4%	-16.67%	Trim
15	AKAM 0.375 09-01-27	Akamai Technologies INC	-1.7%	-41.31%	Trim
16	BILL 0 04-01-30	Bill Holdings INC	-2.8%	-54.11%	Trim
17	BL 1 06-01-29	Blackline INC	-4.1%	-63.64%	Trim
18	BBIO 2.5 03-15-27	Bridgebio Pharma INC	—	NEW	New buy
19	LCII 3 03-01-30	Lci Industries	—	NEW	New buy
20	ALNY 1 09-15-27	Alnylam Pharmaceuticals	—	NEW	New buy
21	JAZZ 2 06-15-26	Jazz Investments I LTD	—	EXIT	Sold out
22	BOX 0 01-15-26	Box INC	—	EXIT	Sold out
23	CFLT 0 01-15-27	Confluent INC	—	EXIT	Sold out
24	WK 1.25 08-15-28	Workiva INC	—	NEW	New buy
25	TRIP 0.25 04-01-26	Tripadvisor INC	—	EXIT	Sold out
26	SEALTD 0.25 09-15-26	Sea LTD	—	EXIT	Sold out
27	IRTC 1.5 09-01-29	Irhythm Holdings INC	—	NEW	New buy
28	POST 2.5 08-15-27	Post Holdings INC	—	NEW	New buy
29	ETSY 0.25 06-15-28	Etsy INC	—	EXIT	Sold out
30	PRGS 1 04-15-26	Progress Software CORP	—	EXIT	Sold out
31	HALO 0.25 03-01-27	Halozyme Therapeutics In	—	NEW	New buy

Filing History

Period	Filed	Type	EDGAR
2026-03-31	2026-05-13	13F-HR	View on EDGAR
2025-12-31	2026-02-13	13F-HR	View on EDGAR
2025-09-30	2025-11-14	13F-HR	View on EDGAR
2025-06-30	2025-08-14	13F-HR	View on EDGAR
2025-03-31	2025-05-15	13F-HR	View on EDGAR
2024-12-31	2025-02-18	13F-HR	View on EDGAR
2024-09-30	2024-11-14	13F-HR	View on EDGAR
2024-06-30	2024-08-14	13F-HR	View on EDGAR
2024-03-31	2024-05-15	13F-HR	View on EDGAR
2023-12-31	2024-02-14	13F-HR	View on EDGAR
2023-09-30	2023-11-14	13F-HR	View on EDGAR
2023-06-30	2023-08-14	13F-HR	View on EDGAR
2023-03-31	2023-05-15	13F-HR	View on EDGAR
2022-12-31	2023-02-14	13F-HR	View on EDGAR
2022-09-30	2022-11-14	13F-HR	View on EDGAR
2022-06-30	2022-08-16	13F-HR	View on EDGAR
2022-03-31	2022-05-16	13F-HR	View on EDGAR
2021-12-31	2022-02-14	13F-HR	View on EDGAR
2021-09-30	2021-10-07	13F-HR	View on EDGAR
2021-06-30	2021-08-11	13F-HR	View on EDGAR
2021-03-31	2021-05-12	13F-HR	View on EDGAR
2020-12-31	2021-02-16	13F-HR	View on EDGAR
2020-09-30	2020-11-16	13F-HR	View on EDGAR
2020-06-30	2020-08-14	13F-HR	View on EDGAR
2020-03-31	2020-05-15	13F-HR	View on EDGAR
2019-12-31	2020-02-14	13F-HR	View on EDGAR
2019-09-30	2019-11-14	13F-HR	View on EDGAR
2019-06-30	2019-08-07	13F-HR	View on EDGAR
2019-03-31	2019-05-15	13F-HR	View on EDGAR
2018-12-31	2019-02-14	13F-HR	View on EDGAR
2018-09-30	2018-11-14	13F-HR	View on EDGAR
2018-06-30	2018-08-14	13F-HR	View on EDGAR
2018-03-31	2018-05-15	13F-HR	View on EDGAR
2017-12-31	2018-02-14	13F-HR	View on EDGAR
2017-09-30	2017-11-14	13F-HR	View on EDGAR
2017-06-30	2017-08-14	13F-HR	View on EDGAR
2017-03-31	2017-05-15	13F-HR	View on EDGAR
2016-12-31	2017-02-14	13F-HR	View on EDGAR
2016-09-30	2016-11-14	13F-HR	View on EDGAR
2016-06-30	2016-08-15	13F-HR	View on EDGAR
2016-03-31	2016-05-16	13F-HR	View on EDGAR
2015-12-31	2016-02-12	13F-HR	View on EDGAR
2015-09-30	2015-11-16	13F-HR	View on EDGAR
2015-06-30	2015-08-14	13F-HR	View on EDGAR
2015-03-31	2015-05-15	13F-HR	View on EDGAR
2014-12-31	2015-02-17	13F-HR	View on EDGAR
2014-09-30	2014-11-14	13F-HR	View on EDGAR
2014-06-30	2014-08-14	13F-HR	View on EDGAR
2014-03-31	2014-05-15	13F-HR	View on EDGAR
2013-12-31	2014-02-14	13F-HR	View on EDGAR
2013-09-30	2013-11-14	13F-HR	View on EDGAR
2013-06-30	2013-09-25	Amendment	View on EDGAR
2013-06-30	2013-08-14	13F-HR	View on EDGAR

FAQ

What is Steelhead Partners LLC and what type of investor is it?

Steelhead Partners LLC is a investment manager that files SEC Form 13F quarterly, disclosing its U.S. public equity holdings to regulators. As of the most recent reporting period (2026-03-31), the firm manages a tracked equity portfolio valued at approximately $1.4B, spread across 24 disclosed positions.

What are Steelhead Partners LLC's largest equity positions?

Based on the latest 13F filing, Steelhead Partners LLC's top holdings by market value are: 1. Bridgebio Pharma INC (BBIO 2.5 03-15-27) — $126.6M (9.1%) 2. On Semiconductor CORP (ON 0 05-01-27) — $126.1M (9.1%) 3. Uber Technologies INC (UBER 0.875 12-01-28 2028) — $120.8M (8.7%) 4. Advanced Energy Ind (AEIS 2.5 09-15-28) — $97.5M (7.0%) 5. Akamai Technologies INC (AKAM 1.125 02-15-29) — $88.0M (6.3%)

What changes did Steelhead Partners LLC make in its most recent portfolio filing?

In the latest reported quarter, Steelhead Partners LLC made 26 notable position adjustments: 7 new positions were initiated, 3 existing holdings were added to, 9 positions were partially reduced, and 7 were completely exited. The largest of these moves: New buy: Bridgebio Pharma INC (BBIO 2.5 03-15-27); New buy: Lci Industries (LCII 3 03-01-30); New buy: Alnylam Pharmaceuticals (ALNY 1 09-15-27); Sold out: Jazz Investments I LTD (JAZZ 2 06-15-26); Sold out: Box INC (BOX 0 01-15-26)

What sectors does Steelhead Partners LLC focus on?

Steelhead Partners LLC is concentrated in the following sectors based on its current disclosed equity portfolio: • Information Technology: 47.0% • Health Care: 26.8% • Industrials: 17.2% • Consumer Discretionary: 6.5% • Consumer Staples: 2.5%