Steelhead Partners LLC
In its 13F for Q2 2025 (holdings as of June 30, 2025, filed August 14, 2025), Steelhead Partners LLC reported 1 stock position worth $1.2 million. Its top holding was Mirion Technologies (MIR) at 100.0% of the portfolio. Compared with Q1 2025, it opened 1 new position. The biggest buy was a new position in Mirion Technologies (MIR).
- Most Recent 13F
- Q2 2026
- Location
- SEATTLE, WA
- CIK
- 0001133521
- Portfolio Value
- $1.2M (Q2 2025)
- SEC Filing
- 0001133521-25-000012 ↗ filed Aug 14, 2025
Holdings Value
Holdings 1 stocks · $1.2M
| MIR Mirion Technologies Inc. | 100.00% | 57,352 | $1.2M | New |
Other holdings (35): 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 | 115,500,000 | $175.0M | Reduce -3.4% |
| ITRON INC (ITRI 0 03/15/26) | NOTE 3/1 · principal | 95,000,000 | $107.7M | No change |
| LUMENTUM HOLDINGS INC (LITE 0.5 12/15/26) | NOTE 0.500%12/1 · principal | 73,000,000 | $85.8M | Reduce -2.7% |
| ALNYLAM PHARMACEUTICALS (ALNY 1 09/15/27) | NOTE 1.000% 9/1 · principal | 65,000,000 | $84.6M | Add +51.2% |
| UBER TECHNOLOGIES INC (UBER 0 12/15/25) | NOTE 12/1 · principal | 70,000,000 | $83.9M | No change |
| DEXCOM INC (DXCM 0.375 05/15/28) | NOTE 0.375% 5/1 · principal | 79,850,000 | $75.1M | Reduce -0.2% |
| BLACKLINE INC (BL 1 06/01/29) | NOTE 1.000% 6/0 · principal | 70,000,000 | $74.5M | New |
| ADVANCED ENERGY IND (AEIS 2.5 09/15/28) | NOTE 2.500% 9/1 · principal | 62,000,000 | $74.4M | Reduce -9.9% |
| UBER TECHNOLOGIES INC (UBER 0.875 12/01/28 2028) | NOTE 0.875%12/0 · principal | 52,000,000 | $74.3M | No change |
| ALARM.COM HLDGS INC (ALRM 2.25 06/01/29) | NOTE 2.250% 6/0 · principal | 75,500,000 | $73.4M | New |
| SEA LTD (SEALTD 0.25 09/15/26) | NOTE 0.250% 9/1 · principal | 76,549,000 | $72.3M | Reduce -41.6% |
| AKAMAI TECHNOLOGIES INC (AKAM 1.125 02/15/29) | NOTE 1.125% 2/1 · principal | 70,000,000 | $66.5M | New |
| HALOZYME THERAPEUTICS IN (HALO 0.25 03/01/27) | NOTE 0.250% 3/0 · principal | 65,000,000 | $64.7M | New |
| AKAMAI TECHNOLOGIES INC (AKAM 0.375 09/01/27) | NOTE 0.375% 9/0 · principal | 65,000,000 | $63.2M | Reduce -16.1% |
| BOX INC (BOX 0 01/15/26) | NOTE 1/1 · principal | 45,609,000 | $60.9M | Add +5.6% |
| JAZZ INVESTMENTS I LTD (JAZZ 2 06/15/26) | NOTE 2.000% 6/1 · principal | 59,600,000 | $60.4M | No change |
| CLOUDFLARE INC (NET 0 08/15/26) | NOTE 8/1 · principal | 47,812,000 | $56.7M | Reduce -40.2% |
| DROPBOX INC (DBX 0 03/01/26) | NOTE 3/0 · principal | 55,000,000 | $54.5M | Reduce -9.8% |
| ENPHASE ENERGY INC (ENPH 0 03/01/28) | NOTE 3/0 · principal | 65,200,000 | $53.5M | Add +3.5% |
| PAGERDUTY INC. (PD 1.5 10/15/28 *) | NOTE 1.500%10/1 · principal | 54,001,000 | $51.6M | Add +8.0% |
| CONFLUENT INC (CFLT 0 01/15/27) | NOTE 1/1 · principal | 52,505,000 | $49.0M | Reduce -12.5% |
| FIVERR INTERNATIONAL LTD (FVRR 0 11/01/25) | NOTE 11/0 · principal | 50,000,000 | $49.0M | Reduce -6.1% |
| TRIPADVISOR INC (TRIP 0.25 04/01/26) | NOTE 0.250% 4/0 · principal | 47,118,000 | $45.3M | Add +4.7% |
| ITRON INC (ITRI 1.375 07/15/30) | NOTE 1.375% 7/1 · principal | 33,000,000 | $39.3M | New |
| UPWORK INC (UPWK 0.25 08/15/26) | NOTE 0.250% 8/1 · principal | 40,000,000 | $37.8M | No change |
| PROGRESS SOFTWARE CORP (PRGS 1 04/15/26) | NOTE 1.000% 4/1 · principal | 31,500,000 | $37.5M | Reduce -13.7% |
| ON SEMICONDUCTOR CORP (ON 0.5 03/01/29) | NOTE 0.500% 3/0 · principal | 40,000,000 | $37.1M | New |
| ETSY INC (ETSY 0.25 06/15/28) | NOTE 0.250% 6/1 · principal | 42,000,000 | $36.1M | Reduce -35.9% |
| SHOPIFY INC (SHOPCN 0.125 11/01/25) | NOTE 0.125%11/0 · principal | 35,000,000 | $35.6M | Reduce -41.7% |
| LUMENTUM HOLDINGS INC (LITE 1.5 12/15/29) | NOTE 1.500%12/1 · principal | 18,000,000 | $27.7M | New |
| LUMENTUM HOLDINGS INC (LITE 0.5 06/15/28) | NOTE 0.500% 6/1 · principal | 20,000,000 | $20.7M | No change |
| FIVE9 INC (FIVN 1 03/15/29) | NOTE 1.000% 3/1 · principal | 18,500,000 | $16.2M | New |
| MERITAGE HOMES CORP (MTH 1.75 05/15/28) | NOTE 1.750% 5/1 · principal | 14,341,000 | $14.0M | New |
| BRIDGEBIO PHARMA INC (BBIO 2.25 02/01/29) | NOTE 2.250% 2/0 · principal | 14,000,000 | $13.1M | New |
| COINBASE GLOBAL INC (COIN 0.25 04/01/30) | NOTE 0.250% 4/0 · principal | 10,000,000 | $13.1M | New |
Total filed on the 13F, all lines: $2.0B.
Portfolio Sells Q1 2025 → Q2 2025
| None this quarter. | |||
Portfolio Buys Q1 2025 → Q2 2025
| MIR Mirion Technologies Inc. | New | 100.00% | +100.00 |
Notes & Other Activity Q1 2025 → Q2 2025
| SPOTIFY USA INC (SPOT 0 03/15/26) | NOTE 3/1 · principal | Reduce -3.4% | 115,500,000 | $175.0M |
| LUMENTUM HOLDINGS INC (LITE 0.5 12/15/26) | NOTE 0.500%12/1 · principal | Reduce -2.7% | 73,000,000 | $85.8M |
| ALNYLAM PHARMACEUTICALS (ALNY 1 09/15/27) | NOTE 1.000% 9/1 · principal | Add +51.2% | 65,000,000 | $84.6M |
| DEXCOM INC (DXCM 0.375 05/15/28) | NOTE 0.375% 5/1 · principal | Reduce -0.2% | 79,850,000 | $75.1M |
| BLACKLINE INC (BL 1 06/01/29) | NOTE 1.000% 6/0 · principal | New | 70,000,000 | $74.5M |
| ADVANCED ENERGY IND (AEIS 2.5 09/15/28) | NOTE 2.500% 9/1 · principal | Reduce -9.9% | 62,000,000 | $74.4M |
| ALARM.COM HLDGS INC (ALRM 2.25 06/01/29) | NOTE 2.250% 6/0 · principal | New | 75,500,000 | $73.4M |
| SEA LTD (SEALTD 0.25 09/15/26) | NOTE 0.250% 9/1 · principal | Reduce -41.6% | 76,549,000 | $72.3M |
| AKAMAI TECHNOLOGIES INC (AKAM 1.125 02/15/29) | NOTE 1.125% 2/1 · principal | New | 70,000,000 | $66.5M |
| HALOZYME THERAPEUTICS IN (HALO 0.25 03/01/27) | NOTE 0.250% 3/0 · principal | New | 65,000,000 | $64.7M |
| AKAMAI TECHNOLOGIES INC (AKAM 0.375 09/01/27) | NOTE 0.375% 9/0 · principal | Reduce -16.1% | 65,000,000 | $63.2M |
| BOX INC (BOX 0 01/15/26) | NOTE 1/1 · principal | Add +5.6% | 45,609,000 | $60.9M |
| CLOUDFLARE INC (NET 0 08/15/26) | NOTE 8/1 · principal | Reduce -40.2% | 47,812,000 | $56.7M |
| DROPBOX INC (DBX 0 03/01/26) | NOTE 3/0 · principal | Reduce -9.8% | 55,000,000 | $54.5M |
| ENPHASE ENERGY INC (ENPH 0 03/01/28) | NOTE 3/0 · principal | Add +3.5% | 65,200,000 | $53.5M |
| PAGERDUTY INC. (PD 1.5 10/15/28 *) | NOTE 1.500%10/1 · principal | Add +8.0% | 54,001,000 | $51.6M |
| CONFLUENT INC (CFLT 0 01/15/27) | NOTE 1/1 · principal | Reduce -12.5% | 52,505,000 | $49.0M |
| FIVERR INTERNATIONAL LTD (FVRR 0 11/01/25) | NOTE 11/0 · principal | Reduce -6.1% | 50,000,000 | $49.0M |
| ALARM.COM HLDGS INC (ALRM 0 01/15/26) | NOTE 1/1 · principal | Sold out | 48,000,000 | $46.2Mbefore exit |
| TRIPADVISOR INC (TRIP 0.25 04/01/26) | NOTE 0.250% 4/0 · principal | Add +4.7% | 47,118,000 | $45.3M |
| ITRON INC (ITRI 1.375 07/15/30) | NOTE 1.375% 7/1 · principal | New | 33,000,000 | $39.3M |
| PROGRESS SOFTWARE CORP (PRGS 1 04/15/26) | NOTE 1.000% 4/1 · principal | Reduce -13.7% | 31,500,000 | $37.5M |
| ON SEMICONDUCTOR CORP (ON 0.5 03/01/29) | NOTE 0.500% 3/0 · principal | New | 40,000,000 | $37.1M |
| ETSY INC (ETSY 0.25 06/15/28) | NOTE 0.250% 6/1 · principal | Reduce -35.9% | 42,000,000 | $36.1M |
| SHOPIFY INC (SHOPCN 0.125 11/01/25) | NOTE 0.125%11/0 · principal | Reduce -41.7% | 35,000,000 | $35.6M |
| DEXCOM INC (DXCM 0.25 11/15/25) | NOTE 0.250%11/1 · principal | Sold out | 30,000,000 | $29.2Mbefore exit |
| LUMENTUM HOLDINGS INC (LITE 1.5 12/15/29) | NOTE 1.500%12/1 · principal | New | 18,000,000 | $27.7M |
| GUARDANT HEALTH INC (GH 0 11/15/27) | NOTE 11/1 · principal | Sold out | 28,000,000 | $24.8Mbefore exit |
| NORTHERN OIL & GAS INC (NOG 3.625 04/15/29) | NOTE 3.625% 4/1 · principal | Sold out | 21,000,000 | $22.2Mbefore exit |
| WINNEBAGO INDUSTRIES (WGO 3.25 01/15/30) | NOTE 3.250% 1/1 · principal | Sold out | 20,000,000 | $17.5Mbefore exit |
| FIVE9 INC (FIVN 1 03/15/29) | NOTE 1.000% 3/1 · principal | New | 18,500,000 | $16.2M |
| CANADIAN SOLAR INC (CSIQ 2.5 10/01/25) | NOTE 2.500%10/0 · principal | Sold out | 16,500,000 | $16.1Mbefore exit |
| MERITAGE HOMES CORP (MTH 1.75 05/15/28) | NOTE 1.750% 5/1 · principal | New | 14,341,000 | $14.0M |
| BRIDGEBIO PHARMA INC (BBIO 2.25 02/01/29) | NOTE 2.250% 2/0 · principal | New | 14,000,000 | $13.1M |
| COINBASE GLOBAL INC (COIN 0.25 04/01/30) | NOTE 0.250% 4/0 · principal | New | 10,000,000 | $13.1M |
| ENPHASE ENERGY INC (ENPH 0 03/01/26) | NOTE 3/0 · principal | Sold out | 13,000,000 | $12.4Mbefore exit |
Bonds, preferreds, convertibles and warrants; not part of the stock holdings or percentages above.