Hedge Fund - Steelhead Partners

Steelhead Partners, based in Washington, was founded in 1996 as a hedge fund manager. The firm aims to exceed market performance through fundamental and balance sheet-based analysis combined with independent thinking to construct its portfolios. Its investment approach targets overlooked and under-researched stocks, historically uncovering opportunities with strong risk/reward profiles.

Michael Johnston co-founded Steelhead Partners. Before this, he was a senior vice president and senior portfolio manager at Loews Corporation, where he co-managed over $5 billion in corporate bonds and handled an equity portfolio. Before his tenure at Loews, Michael worked as a high-yield and investment-grade credit analyst at Prudential Insurance, eventually becoming co-portfolio manager of an $11 billion fixed-income portfolio. He holds an MBA from the Johnson Graduate School of Business at Cornell University and graduated with honors with a BA in Finance from Texas Christian University.

As of March 2024, Steelhead Partners manages assets for six clients, with discretionary assets under management (AUM) totaling $2.63 billion. Their Q1 2024 13F filing reported $1.90 billion in managed 13F securities, with a top 10 holdings concentration of 37.37%. The firm's largest holding is Sea Ltd. NOTE 0.250% 9/1, with 132 million shares.