Steelhead Partners LLC 13F holdings, Q4 2025
Holdings as of December 31, 2025 · filings on SEC EDGAR · latest filing →
Steelhead Partners LLC disclosed 24 US equity positions worth $1.4bn in its Q4 2025 13F filing. The largest position was ON at 8.8% of the reported book, followed by NET and AKAM. Against the Q3 2025 filing, it opened 4 new positions, added to 10 and reduced 4 among the top 24 holdings.
What did Steelhead Partners LLC own in Q4 2025? Top 24 positions
| # | Stock | Sector | Weight | Value | Shares | Δ shares | vs Q3 2025 |
|---|---|---|---|---|---|---|---|
| 1 | ON ON SEMICONDUCTOR CORP | 8.8% | $119.5m | 100,000,000 | 135% | added | |
| 2 | NET CLOUDFLARE INC | 7.3% | $98.5m | 84,000,000 | 68% | added | |
| 3 | AKAM AKAMAI TECHNOLOGIES INC | 6.4% | $86.6m | 87,500,000 | 25% | added | |
| 4 | ALARM COM HLDGS INC | 6.3% | $85.9m | 90,000,000 | 12% | added | |
| 5 | BL BLACKLINE INC | 6.0% | $81.6m | 77,000,000 | 0% | held | |
| 6 | DEXCOM INC | 5.6% | $76.4m | 82,850,000 | 0% | held | |
| 7 | NTNX NUTANIX INC | 5.4% | $73.2m | 65,000,000 | – | new | |
| 8 | UBER UBER TECHNOLOGIES INC | 5.3% | $71.5m | 55,000,000 | 6% | added | |
| 9 | JAZZ INVESTMENTS I LTD | 5.1% | $69.6m | 60,000,000 | 14% | added | |
| 10 | AKAM AKAMAI TECHNOLOGIES INC | 5.1% | $68.6m | 68,150,000 | 5% | added | |
| 11 | BILL BILL HOLDINGS INC | 5.0% | $67.3m | 73,000,000 | – | new | |
| 12 | ADVANCED ENERGY INDS | 4.8% | $65.6m | 40,000,000 | -38% | reduced | |
| 13 | BOX INC | 4.6% | $62.7m | 53,609,000 | 0% | held | |
| 14 | CONFLUENT INC | 4.4% | $59.5m | 61,040,000 | 22% | added | |
| 15 | TRIPADVISOR INC | 3.5% | $47.2m | 47,901,000 | 0% | held | |
| 16 | SE SEA LTD | 3.2% | $43.7m | 45,000,000 | -36% | reduced | |
| 17 | ITRI ITRON INC | 3.0% | $40.5m | 40,000,000 | 21% | added | |
| 18 | PENGUIN SOLUTIONS INC | 2.3% | $30.7m | 30,000,000 | 0% | held | |
| 19 | ETSY ETSY INC | 2.3% | $30.6m | 34,200,000 | -19% | reduced | |
| 20 | PROGRESS SOFTWARE CORP | 1.8% | $24.9m | 25,000,000 | 0% | held | |
| 21 | FIVE9 INC | 1.7% | $22.6m | 25,000,000 | 6% | added | |
| 22 | VARONIS SYS INC | 1.0% | $14.0m | 15,000,000 | -57% | reduced | |
| 23 | LMAT LEMAITRE VASCULAR INC | 0.9% | $12.0m | 12,000,000 | – | new | |
| 24 | VOYG VOYAGER TECHNOLOGIES INC | 0.1% | $1.1m | 43,000 | – | new |
Weights are shares of the reported long US equity book (options excluded). Values are as filed, normalised to whole dollars. Share changes compare against the immediately preceding filing only.