STEELHEAD PARTNERS, LLC

other names
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Adviser Profile
As of Date 03/13/2024
Adviser Type - Large advisory firm
Number of Employees 12 -7.69%
of those in investment advisory functions 5
Registration Washington, Terminated, 03/23/2006
Other registrations (1)
AUM* 2,627,038,198 32.43%
of that, discretionary 2,627,038,198 32.43%
Private Fund GAV* 2,622,776,488 32.34%
Avg Account Size 375,291,171 32.43%
SMA’s Yes
Private Funds 2
Contact Info 206 xxxxxxx
Websites

Client Types

- Pooled investment vehicles
- Corporations or other businesses not listed above

Advisory Activities

- Portfolio management for pooled investment vehicles
- Portfolio management for businesses

Compensation Arrangments

- A percentage of assets under your management
- Performance-based fees

Recent News

Reported AUM

Discretionary
Non-discretionary
3B 2B 2B 1B 1B 733M 367M
2016 2017 2018 2019 2020 2021 2022 2023

Private Funds



Employees

Private Funds Structure

Fund Type Count GAV
Fund TypeHedge Fund Count2 GAV$2,622,776,488

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Top Holdings

Stock Ticker Stock Name $ Position % Position $ Change # Change
Stck Ticker81141RAG5 Stock NameSEALTD 0 1/4 09/15/26 $ Position$119,390,700 % Position6.00% $ Change4.00% # Change0.00%
Stck Ticker84921RAB6 Stock NameSPOT 0 03/15/26 $ Position$107,369,339 % Position6.00% $ Change32.00% # Change27.00%
Stck Ticker465741AN6 Stock NameITRI 0 03/15/26 $ Position$68,022,500 % Position4.00% $ Change125.00% # Change117.00%
Stck Ticker18915MAC1 Stock NameNET 0 08/15/26 $ Position$80,942,750 % Position4.00% $ Change-7.00% # Change-9.00%
Stck Ticker20717MAB9 Stock NameCFLT 0 01/15/27 $ Position$66,258,810 % Position3.00% $ Change9.00% # Change6.00%
Stck Ticker252131AK3 Stock NameDXCM 0 1/4 11/15/25 $ Position$66,807,300 % Position3.00% $ Change-27.00% # Change-23.00%
Stck Ticker29786AAN6 Stock NameETSY 0 1/4 06/15/28 $ Position$48,802,626 % Position3.00% $ Change4.00% # Change0.00%
Stck Ticker33835LAA3 Stock NameFVRR 0 11/01/25 $ Position$50,863,140 % Position3.00% $ Change2.00% # Change0.00%
Stck Ticker393657AM3 Stock NameGBX 2 7/8 04/15/28 $ Position$48,995,168 % Position3.00% $ Change14.00% # Change11.00%
Stck Ticker45867GAD3 Stock NameIDCC 3 1/2 06/01/27 $ Position$56,610,135 % Position3.00% $ Change20.00% # Change0.00%

Brochure Summary

Overview

Steelhead was formed as a Delaware limited liability company in 1996 by Members J. Michael Johnston and Brian Klein under its original name, Johnston Klein Capital Management, L.L.C. In March 2019 (with an effective date of January 1, 2019), Scott Schaefer became Managing Member and a principal owner of Steelhead, with 100% voting rights (and a substantial economic interest held through his family trust). Mr. Johnston currently maintains a substantial economic interest and thus remains a principal owner based on this economic interest. Steelhead primarily provides discretionary advisory services to investment limited partnerships, offshore investment funds and other pooled investment vehicles (collectively, the “Funds”), as well as separately managed accounts (“separate accounts”), with the goal of achieving capital appreciation while managing risk. The Funds and the separate accounts are Steelhead’s current clients. Steelhead tailors its advisory services by constructing portfolios that seek to meet the investment objectives, guidelines and other terms of each Fund or separate account
it manages. Steelhead generally manages the Funds and separate accounts by following one of two “core” strategies: a fundamental value strategy or a convertible bond strategy. See “Methods of Analysis, Investment Strategies and Risk of Loss” below for more detail. The Funds may impose limits on or expand the universe of securities or other instruments in which they may invest. Steelhead has complete discretion over investment decisions for the Funds, and investors have no authority to change a Fund’s investment objectives or limitations. Investors have no right to remove or replace Steelhead. A separate account client may impose restrictions or other guidelines with respect to the securities or types of securities that the account may invest in. Steelhead does not participate in wrap fee programs. As of March 1, 2024, Steelhead manages approximately $1,362.9 million of client assets on a discretionary basis. Steelhead does not provide non-discretionary investment advice.