STEELHEAD PARTNERS LLC

The most striking characteristic of this portfolio is its structure: it is almost entirely composed of corporate bonds and convertible notes. The naming convention of the holdings (e.g., "HALO 0 1/4 03/01/27") indicates a deep focus on fixed income, specifically zero-coupon or low-coupon convertible securities and corporate bonds. This suggests the firm employs a credit-focused or arbitrage strategy rather than a traditional long-only equity strategy. The "Unknown" sector classification dominating the allocation confirms that the standard sector tagging used for equities does not capture the credit nature of these assets.

2. Key Holdings