Institutional Manager · CIK 0001133521
STEELHEAD PARTNERS LLC
Seattle, WA · File #028-06101
Latest AUM
$1.35B
Positions
24
Top-10 Concentration
61.4%
Filings
9
Portfolio Value Over Time
2024-03
2024-06
2024-09
2024-12
2025-03
2025-06
2025-09
2025-12
Biggest QoQ Changes
Ranked by conviction flow (share change × current price) so mark-to-market moves don't dominate. Price effect column shows how much of the $ change was just the stock moving.
| Action | Issuer | Ticker / CUSIP | Δ Shares | Flow ($) | Price Effect |
|---|---|---|---|---|---|
| EXITED | HALO 0 1/4 03/01/27 | 40637HAD1 | -111,500,000 | -$128.0M | $0 |
| EXITED | ITRI 0 03/15/26 | 465741AN6 | -95,000,000 | -$100.7M | $0 |
| EXITED | UBER 0 12/15/25 | 90353TAJ9 | -66,847,000 | -$81.6M | $0 |
| NEW | NUTANIX INC | NTNX | +65,000,000 | +$73.2M | $0 |
| EXITED | SPOT 0 03/15/26 | 84921RAB6 | -53,000,000 | -$72.6M | $0 |
| ADD | ON SEMICONDUCTOR CORP | ON | +57,500,000 | +$68.7M | +$2.4M |
| NEW | BILL HOLDINGS INC | BILL | +73,000,000 | +$67.3M | $0 |
| EXITED | DBX 0 03/01/26 | 26210CAC8 | -50,000,000 | -$49.5M | $0 |
| REDUCE | ADVANCED ENERGY INDS | 007973AE0 | -24,735,000 | -$40.6M | +$16.5M |
| ADD | CLOUDFLARE INC | NET | +34,000,000 | +$39.9M | -$3.5M |
Sector Allocation
Filing History
- 13F HOLDINGS REPORTQ/E Dec 202524 pos · $1.35B
- 13F HOLDINGS REPORTQ/E Sep 202530 pos · $1.67B
- 13F HOLDINGS REPORTQ/E Jun 202536 pos · $1.99B
- 13F HOLDINGS REPORTQ/E Mar 202531 pos · $1.73B
- 13F HOLDINGS REPORTQ/E Dec 202445 pos · $1.99B
- 13F HOLDINGS REPORTQ/E Sep 202449 pos · $1.94B
- 13F HOLDINGS REPORTQ/E Jun 202448 pos · $1.93B
- 13F HOLDINGS REPORTQ/E Mar 202446 pos · $1.90B
- 13F HOLDINGS REPORTQ/E Dec 202349 pos · $1.71B
Top 20 Holdings — Dec 2025
| # | Issuer | Ticker | Shares | Value | % of Portfolio |
|---|---|---|---|---|---|
| 1 | ON SEMICONDUCTOR CORP | ON | 100,000,000 | $119.5M | 8.83% |
| 2 | CLOUDFLARE INC | NET | 84,000,000 | $98.5M | 7.28% |
| 3 | AKAMAI TECHNOLOGIES INC | AKAM | 87,500,000 | $86.6M | 6.40% |
| 4 | ALARM COM HLDGS INC | ALRM | 90,000,000 | $85.9M | 6.34% |
| 5 | BLACKLINE INC | BL | 77,000,000 | $81.6M | 6.02% |
| 6 | DEXCOM INC | DXCM | 82,850,000 | $76.4M | 5.64% |
| 7 | NUTANIX INC | NTNX | 65,000,000 | $73.2M | 5.41% |
| 8 | UBER TECHNOLOGIES INC | UBER | 55,000,000 | $71.5M | 5.28% |
| 9 | JAZZ INVESTMENTS I LTD | 472145AF8 | 60,000,000 | $69.6M | 5.14% |
| 10 | AKAMAI TECHNOLOGIES INC | AKAM | 68,150,000 | $68.6M | 5.07% |
| 11 | BILL HOLDINGS INC | BILL | 73,000,000 | $67.3M | 4.97% |
| 12 | ADVANCED ENERGY INDS | 007973AE0 | 40,000,000 | $65.6M | 4.85% |
| 13 | BOX INC | BXCAP | 53,609,000 | $62.7M | 4.63% |
| 14 | CONFLUENT INC | 20717MAB9 | 61,040,000 | $59.5M | 4.39% |
| 15 | TRIPADVISOR INC | TRIP | 47,901,000 | $47.2M | 3.49% |
| 16 | SEA LTD | SE | 45,000,000 | $43.7M | 3.23% |
| 17 | ITRON INC | ITRI | 40,000,000 | $40.5M | 3.00% |
| 18 | PENGUIN SOLUTIONS INC | PENG | 30,000,000 | $30.7M | 2.27% |
| 19 | ETSY INC | ETSY | 34,200,000 | $30.6M | 2.26% |
| 20 | PROGRESS SOFTWARE CORP | 743312AB6 | 25,000,000 | $24.9M | 1.84% |