Steelhead Partners LLC
In its 13F for Q4 2024 (holdings as of December 31, 2024, filed February 18, 2025), Steelhead Partners LLC reported 1 stock position worth $2.3 million. Its top holding was Iren (IREN) at 100.0% of the portfolio. Compared with Q3 2024, it opened 1 new position. The biggest buy was a new position in Iren (IREN).
- Most Recent 13F
- Q2 2026
- Location
- SEATTLE, WA
- CIK
- 0001133521
- Portfolio Value
- $2.3M (Q4 2024)
- SEC Filing
- 0001133521-25-000004 ↗ filed Feb 18, 2025
Holdings Value
Holdings 1 stocks · $2.3M
| IREN Iren Ltd. filed as IREN LIMITED | 100.00% | 232,018 | $2.3M | New |
Other holdings (44): bonds, preferreds, convertibles and warrants · $2.0B (not counted above)
| Security | Class | Shares / Principal | Value | Change |
|---|---|---|---|---|
| SPOTIFY USA INC (SPOT 0 03/15/26) | NOTE 3/1 · principal | 114,000,000 | $121.6M | Add +5.8% |
| SEA LTD (SEALTD 0.25 09/15/26) | NOTE 0.250% 9/1 · principal | 132,000,000 | $119.9M | No change |
| LUMENTUM HOLDINGS INC (LITE 0.5 12/15/26) | NOTE 0.500%12/1 · principal | 83,078,000 | $91.5M | Add +32.3% |
| ITRON INC (ITRI 0 03/15/26) | NOTE 3/1 · principal | 80,000,000 | $83.1M | Add +23.1% |
| SOUTHWEST AIRLINES CO (LUV 1.25 05/01/25) | NOTE 1.250% 5/0 · principal | 80,000,000 | $82.5M | Add +20.1% |
| CLOUDFLARE INC (NET 0 08/15/26) | NOTE 8/1 · principal | 80,000,000 | $76.8M | Reduce -8.6% |
| UBER TECHNOLOGIES INC (UBER 0 12/15/25) | NOTE 12/1 · principal | 70,000,000 | $70.8M | Add +16.7% |
| DROPBOX INC (DBX 0 03/01/26) | NOTE 3/0 · principal | 70,000,000 | $69.4M | Add +133.3% |
| SHOPIFY INC (SHOPCN 0.125 11/01/25) | NOTE 0.125%11/0 · principal | 60,000,000 | $61.2M | New |
| CONFLUENT INC (CFLT 0 01/15/27) | NOTE 1/1 · principal | 60,000,000 | $54.0M | Reduce -19.5% |
| ETSY INC (ETSY 0.25 06/15/28) | NOTE 0.250% 6/1 · principal | 65,492,000 | $54.0M | Add +10.0% |
| BOX INC (BOX 0 01/15/26) | NOTE 1/1 · principal | 42,192,000 | $53.5M | Add +68.8% |
| FIVERR INTERNATIONAL LTD (FVRR 0 11/01/25) | NOTE 11/0 · principal | 54,000,000 | $51.3M | No change |
| ALARM.COM HLDGS INC (ALRM 0 01/15/26) | NOTE 1/1 · principal | 54,000,000 | $51.2M | Add +16.6% |
| JAZZ INVESTMENTS I LTD (JAZZ 2 06/15/26) | NOTE 2.000% 6/1 · principal | 49,635,000 | $50.4M | Add +200.8% |
| ENPHASE ENERGY INC (ENPH 0 03/01/28) | NOTE 3/0 · principal | 59,000,000 | $48.5M | Add +18.1% |
| IONIS PHARMACEUTICALS IN (IONS 0 04/01/26) | NOTE 4/0 · principal | 50,000,000 | $48.4M | Add +19.1% |
| AKAMAI TECHNOLOGIES INC (AKAM 0.375 09/01/27) | NOTE 0.375% 9/0 · principal | 48,000,000 | $48.3M | New |
| DEXCOM INC (DXCM 0.25 11/15/25) | NOTE 0.250%11/1 · principal | 50,000,000 | $48.2M | Reduce -28.6% |
| UBER TECHNOLOGIES INC (UBER 0.875 12/01/28 2028) | NOTE 0.875%12/0 · principal | 43,000,000 | $47.5M | New |
| GREENBRIER COS INC (GBX 2.875 04/15/28) | NOTE 2.875% 4/1 · principal | 35,692,000 | $43.2M | Reduce -19.8% |
| BLOCK INC (XYZ 0 05/01/26) | NOTE 5/0 · principal | 42,000,000 | $39.1M | Add +9.0% |
| IONIS PHARMACEUTICALS IN (IONS 1.75 06/15/28) | NOTE 1.750% 6/1 · principal | 38,000,000 | $37.6M | Reduce -30.3% |
| UPWORK INC (UPWK 0.25 08/15/26) | NOTE 0.250% 8/1 · principal | 40,000,000 | $37.0M | Reduce -8.1% |
| DEXCOM INC (DXCM 0.375 05/15/28) | NOTE 0.375% 5/1 · principal | 41,000,000 | $36.9M | Add +36.7% |
| PROGRESS SOFTWARE CORP (PRGS 1 04/15/26) | NOTE 1.000% 4/1 · principal | 30,000,000 | $36.1M | Add +36.4% |
| LUMENTUM HOLDINGS INC (LITE 0.5 06/15/28) | NOTE 0.500% 6/1 · principal | 37,146,000 | $36.0M | New |
| SOLAR EDGE TECHNOLOGIES (SEDG 0 09/15/25) | NOTE 9/1 · principal | 38,000,000 | $35.6M | Reduce -16.4% |
| PEGASYSTEMS INC (PEGA 0.75 03/01/25) | NOTE 0.750% 3/0 · principal | 34,496,000 | $34.2M | No change |
| GUARDANT HEALTH INC (GH 0 11/15/27) | NOTE 11/1 · principal | 40,129,000 | $33.7M | Add +34.7% |
| NOVOCURE LTD (NVCR 0 11/01/25) | NOTE 11/0 · principal | 34,500,000 | $32.9M | Reduce -1.7% |
| TRIPADVISOR INC (TRIP 0.25 04/01/26) | NOTE 0.250% 4/0 · principal | 35,000,000 | $32.8M | No change |
| LYFT INC (LYFT 1.5 05/15/25) | NOTE 1.500% 5/1 · principal | 30,520,000 | $30.1M | No change |
| NICE LTD (NICEIT 0 09/15/25) | NOTE 9/1 · principal | 28,097,000 | $27.0M | Reduce -38.3% |
| ENPHASE ENERGY INC (ENPH 0 03/01/26) | NOTE 3/0 · principal | 27,500,000 | $25.8M | Reduce -11.3% |
| PAGERDUTY INC. (PD 1.5 10/15/28 *) | NOTE 1.500%10/1 · principal | 22,000,000 | $21.4M | New |
| NEW MOUNTAIN FINANCE COR (NMFC 7.5 10/15/25) | NOTE 7.500%10/1 · principal | 18,500,000 | $18.6M | Add +15.6% |
| ADVANCED ENERGY IND (AEIS 2.5 09/15/28) | NOTE 2.500% 9/1 · principal | 15,000,000 | $16.4M | Reduce -49.3% |
| EXACT SCIENCES CORP (EXAS 0.375 03/01/28) | NOTE 0.375% 3/0 · principal | 18,000,000 | $15.9M | New |
| CANADIAN SOLAR INC (CSIQ 2.5 10/01/25) | NOTE 2.500%10/0 · principal | 16,500,000 | $15.8M | No change |
| AIRBNB INC (ABNB 0 03/15/26) | NOTE 3/1 · principal | 15,000,000 | $14.1M | New |
| ZSCALER INC. (ZS 0.125 07/01/25) | NOTE 0.125% 7/0 · principal | 10,651,000 | $13.2M | No change |
| CAPITAL SOUTHWEST CORP (CSWC 5.125 11/15/29) | NOTE 5.125%11/1 · principal | 13,000,000 | $12.7M | New |
| ALNYLAM PHARMACEUTICALS (ALNY 1 09/15/27) | NOTE 1.000% 9/1 · principal | 6,500,000 | $6.9M | New |
Total filed on the 13F, all lines: $2.0B.
Portfolio Sells Q3 2024 → Q4 2024
| None this quarter. | |||
Portfolio Buys Q3 2024 → Q4 2024
| IREN Iren Ltd. | New | 100.00% | +100.00 |
Notes & Other Activity Q3 2024 → Q4 2024
| SPOTIFY USA INC (SPOT 0 03/15/26) | NOTE 3/1 · principal | Add +5.8% | 114,000,000 | $121.6M |
| LUMENTUM HOLDINGS INC (LITE 0.5 12/15/26) | NOTE 0.500%12/1 · principal | Add +32.3% | 83,078,000 | $91.5M |
| ITRON INC (ITRI 0 03/15/26) | NOTE 3/1 · principal | Add +23.1% | 80,000,000 | $83.1M |
| SOUTHWEST AIRLINES CO (LUV 1.25 05/01/25) | NOTE 1.250% 5/0 · principal | Add +20.1% | 80,000,000 | $82.5M |
| CLOUDFLARE INC (NET 0 08/15/26) | NOTE 8/1 · principal | Reduce -8.6% | 80,000,000 | $76.8M |
| UBER TECHNOLOGIES INC (UBER 0 12/15/25) | NOTE 12/1 · principal | Add +16.7% | 70,000,000 | $70.8M |
| DROPBOX INC (DBX 0 03/01/26) | NOTE 3/0 · principal | Add +133.3% | 70,000,000 | $69.4M |
| SHOPIFY INC (SHOPCN 0.125 11/01/25) | NOTE 0.125%11/0 · principal | New | 60,000,000 | $61.2M |
| INTERDIGITAL INC (IDCC 3.5 06/01/27) | NOTE 3.500% 6/0 · principal | Sold out | 30,500,000 | $56.6Mbefore exit |
| CONFLUENT INC (CFLT 0 01/15/27) | NOTE 1/1 · principal | Reduce -19.5% | 60,000,000 | $54.0M |
| ETSY INC (ETSY 0.25 06/15/28) | NOTE 0.250% 6/1 · principal | Add +10.0% | 65,492,000 | $54.0M |
| BOX INC (BOX 0 01/15/26) | NOTE 1/1 · principal | Add +68.8% | 42,192,000 | $53.5M |
| ALARM.COM HLDGS INC (ALRM 0 01/15/26) | NOTE 1/1 · principal | Add +16.6% | 54,000,000 | $51.2M |
| SAREPTA THERAPEUTICS INC (SRPT 1.25 09/15/27) | NOTE 1.250% 9/1 · principal | Sold out | 45,000,000 | $51.2Mbefore exit |
| JAZZ INVESTMENTS I LTD (JAZZ 2 06/15/26) | NOTE 2.000% 6/1 · principal | Add +200.8% | 49,635,000 | $50.4M |
| ENPHASE ENERGY INC (ENPH 0 03/01/28) | NOTE 3/0 · principal | Add +18.1% | 59,000,000 | $48.5M |
| IONIS PHARMACEUTICALS IN (IONS 0 04/01/26) | NOTE 4/0 · principal | Add +19.1% | 50,000,000 | $48.4M |
| AKAMAI TECHNOLOGIES INC (AKAM 0.375 09/01/27) | NOTE 0.375% 9/0 · principal | New | 48,000,000 | $48.3M |
| DEXCOM INC (DXCM 0.25 11/15/25) | NOTE 0.250%11/1 · principal | Reduce -28.6% | 50,000,000 | $48.2M |
| UBER TECHNOLOGIES INC (UBER 0.875 12/01/28 2028) | NOTE 0.875%12/0 · principal | New | 43,000,000 | $47.5M |
| BILL HOLDINGS INC (BILL 0 04/01/27) | NOTE 4/0 · principal | Sold out | 50,000,000 | $44.3Mbefore exit |
| GREENBRIER COS INC (GBX 2.875 04/15/28) | NOTE 2.875% 4/1 · principal | Reduce -19.8% | 35,692,000 | $43.2M |
| BLOCK INC (XYZ 0 05/01/26) | NOTE 5/0 · principal | Add +9.0% | 42,000,000 | $39.1M |
| IONIS PHARMACEUTICALS IN (IONS 1.75 06/15/28) | NOTE 1.750% 6/1 · principal | Reduce -30.3% | 38,000,000 | $37.6M |
| UPWORK INC (UPWK 0.25 08/15/26) | NOTE 0.250% 8/1 · principal | Reduce -8.1% | 40,000,000 | $37.0M |
| DEXCOM INC (DXCM 0.375 05/15/28) | NOTE 0.375% 5/1 · principal | Add +36.7% | 41,000,000 | $36.9M |
| PROGRESS SOFTWARE CORP (PRGS 1 04/15/26) | NOTE 1.000% 4/1 · principal | Add +36.4% | 30,000,000 | $36.1M |
| LUMENTUM HOLDINGS INC (LITE 0.5 06/15/28) | NOTE 0.500% 6/1 · principal | New | 37,146,000 | $36.0M |
| SOLAR EDGE TECHNOLOGIES (SEDG 0 09/15/25) | NOTE 9/1 · principal | Reduce -16.4% | 38,000,000 | $35.6M |
| VEECO INSTRUMENTS INC (VECO 2.875 06/01/29) | NOTE 2.875% 6/0 · principal | Sold out | 25,000,000 | $34.0Mbefore exit |
| GUARDANT HEALTH INC (GH 0 11/15/27) | NOTE 11/1 · principal | Add +34.7% | 40,129,000 | $33.7M |
| NOVOCURE LTD (NVCR 0 11/01/25) | NOTE 11/0 · principal | Reduce -1.7% | 34,500,000 | $32.9M |
| MGP INGREDIENTS INC (MGPI 1.875 11/15/41) | NOTE 1.875%11/1 · principal | Sold out | 30,000,000 | $32.2Mbefore exit |
| UNITY SOFTWARE INC (U 0 11/15/26) | NOTE 11/1 · principal | Sold out | 36,000,000 | $32.2Mbefore exit |
| NICE LTD (NICEIT 0 09/15/25) | NOTE 9/1 · principal | Reduce -38.3% | 28,097,000 | $27.0M |
| ENPHASE ENERGY INC (ENPH 0 03/01/26) | NOTE 3/0 · principal | Reduce -11.3% | 27,500,000 | $25.8M |
| M/A-COM TECH SOLUTIONS (MTSI 0.25 03/15/26) | NOTE 0.250% 3/1 · principal | Sold out | 17,250,000 | $24.4Mbefore exit |
| WORKIVA INC (WK 1.25 08/15/28) | NOTE 1.250% 8/1 · principal | Sold out | 23,000,000 | $21.9Mbefore exit |
| PAGERDUTY INC. (PD 1.5 10/15/28 *) | NOTE 1.500%10/1 · principal | New | 22,000,000 | $21.4M |
| PTC THERAPEUTICS INC (PTCT 1.5 09/15/26) | NOTE 1.500% 9/1 · principal | Sold out | 19,000,000 | $19.8Mbefore exit |
| NEW MOUNTAIN FINANCE COR (NMFC 7.5 10/15/25) | NOTE 7.500%10/1 · principal | Add +15.6% | 18,500,000 | $18.6M |
| ADVANCED ENERGY IND (AEIS 2.5 09/15/28) | NOTE 2.500% 9/1 · principal | Reduce -49.3% | 15,000,000 | $16.4M |
| EXACT SCIENCES CORP (EXAS 0.375 03/01/28) | NOTE 0.375% 3/0 · principal | New | 18,000,000 | $15.9M |
| AIRBNB INC (ABNB 0 03/15/26) | NOTE 3/1 · principal | New | 15,000,000 | $14.1M |
| CAPITAL SOUTHWEST CORP (CSWC 5.125 11/15/29) | NOTE 5.125%11/1 · principal | New | 13,000,000 | $12.7M |
| VISHAY INTERTECHNOLOGY (VSH 2.25 09/15/30) | NOTE 2.250% 9/1 · principal | Sold out | 11,450,000 | $10.5Mbefore exit |
| ALNYLAM PHARMACEUTICALS (ALNY 1 09/15/27) | NOTE 1.000% 9/1 · principal | New | 6,500,000 | $6.9M |
| VEECO INSTRUMENTS INC (VECO 3.5 01/15/25) | NOTE 3.500% 1/1 · principal | Sold out | 4,800,000 | $6.7Mbefore exit |
| LIVE NATION ENTERTAINMEN (LYV 3.125 01/15/29) | NOTE 3.125% 1/1 · principal | Sold out | 5,150,000 | $6.3Mbefore exit |
| WAYFAIR INC (W 3.25 09/15/27) | NOTE 3.250% 9/1 · principal | Sold out | 5,000,000 | $6.0Mbefore exit |
Showing the first 50 of 51.
Bonds, preferreds, convertibles and warrants; not part of the stock holdings or percentages above.