Steelhead Partners Not Toying Around With Large Position in Toymaker JAKKS Pacific, Inc. (JAKK)

The second top holding of Steelhead Partners is in Globalstar, Inc. (NYSEMKT:GSAT), in which it owns 31.00 million shares valued at $103.25 million. Globalstar has partnered with Yippy for the construction of a ubiquitous global network that utilizes Yippy’s EASE 360 platform. The network should enable Globalstar consumers to remain connected to the internet even in regions where there are no cellular connections. As part of the agreement, Yippy will provide cloud data services using Globalstar, Inc. (NYSEMKT:GSAT)’s satellite network and devices. A secure connection is also guaranteed. Download and upload speeds will be enhanced with the new network, allowing consumers to maintain secure business operations while sending and receiving data. Data speeds should improve by up to 25x as a result of the new ground infrastructure. Billionaire James Dinan holds a slightly larger position in the company than Steelhead, of 31.47 million shares, the only investor we track that can say that.

Level 3 Communications, Inc. (NYSE:LVLT) was the third-largest holding of Steelhead Partners, which holds 1.43 million shares with a value of $77.12 million as of March 31. The company recently inked a deal with Optus Wholesale and Satellite that will allow it to grow its content delivery network by over 300% in Australia. As part of the deal, Optus is to store high-demand content on Level 3’s network. Optus Managing Director, Rob Parcell, plans to leverage the close working relationship with Level 3 Communications, Inc. (NYSE:LVLT) to improve the consumption of video, music, and data content on the internet. Optus customers stand to enjoy improved delivery completion rates and faster deliveries even during times of huge traffic on the network. Satellite and Optus Wholesale are also set to guarantee content delivery between their clients and end users in a way that elevates the end-user experience. Billionaire Mason Hawkins’ Southeastern Asset Management owns by far the largest-stake of Level 3 in our database, consisting of 45.24 million shares.

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