Steelhead Partners

Steelhead Partners as of Dec. 31, 2010

Portfolio Holdings for Steelhead Partners

Steelhead Partners holds 72 positions in its portfolio as reported in the December 2010 quarterly 13F filing

Company (Ticker) Portfolio Weight Valued At Change in Shares Share Count Share Price
PowerShares QQQ Trust, Series 1 18.3 $496M 9.1M 54.46
Spdr S&p 500 Etf (SPY) 16.2 $440M 3.5M 125.75
iShares Russell 2000 Index (IWM) 11.3 $305M 3.9M 78.24
AbitibiBowater 8.6 $234M 9.9M 23.67
Alpha Natural Resources 5.8 $158M 2.6M 60.03
Charter Communications 4.5 $123M 3.2M 38.94
James River Coal Company 4.2 $113M 4.5M 25.33
International Coal 3.4 $92M 12M 7.74
Walter Energy 2.8 $77M 600k 127.84
Level 3 Communications Inc note 6.500%10/0 1.5 $40M 37M 1.08
Global Crossing 1.2 $32M 2.5M 12.92
Scorpio Tankers 1.1 $30M 3.0M 10.11
Calpine Corporation 1.1 $29M 2.1M 13.34
Sandisk Corp note 1.000% 5/1 1.0 $28M 29M 0.97
Nii Hldgs Inc note 3.125% 6/1 1.0 $28M 28M 0.99
Jetblue Airways Corp dbcv 6.750%10/1 1.0 $27M 17M 1.64
Ual Corp note 4.500% 6/3 1.0 $26M 25M 1.03
Netapp Inc note 1.750% 6/0 0.9 $24M 14M 1.78
Level 3 Communications conv 0.9 $24M 22M 1.11
Gold Resv Inc note 5.500% 6/1 0.9 $24M 30M 0.80
Endeavour International C 0.9 $24M 1.7M 13.80
Level 3 Communications Inc note 0.8 $22M 23M 0.95
Fei Co note 2.875% 6/0 0.7 $19M 17M 1.12
Advanced Micro Devices Inc note 5.750% 8/1 0.7 $19M 18M 1.03
On Semiconductor Corp note 4/1 0.7 $18M 16M 1.12
TAKE-TWO INTER CONVERTIBLE security 0.7 $18M 14M 1.34
Level 3 Communications Inc note 5.250% 12/1 0.6 $17M 17M 1.00
Arris Group Inc note 2.000%11/1 0.6 $17M 16M 1.03
Micron Technology Inc note 1.875% 6/0 0.6 $16M 17M 0.94
Verifone Sys Inc note 1.375% 6/1 0.6 $15M 14M 1.08
Jds Uniphase Corp note 1.000% 5/1 0.5 $14M 15M 0.95
Sirius Satellite Radio Inc note 3.250%10/1 0.5 $14M 14M 1.00
Euronet Worldwide Inc note 3.500%10/1 0.5 $13M 13M 0.99
Amylin Pharmaceuticals Inc note 2.500% 4/1 0.5 $13M 13M 1.00
Sonde Resources 0.5 $12M 3.4M 3.61
Verigy Ltd note 5.250% 7/1 0.5 $12M 10M 1.19
Arch Coal 0.4 $11M 323k 35.06
Amgen Inc note 3/0 0.4 $11M 14M 0.77
Advanced Micro Devices Inc note 6.000% 5/0 0.3 $9.1M 9.0M 1.01
Gold Reserve 0.3 $9.1M 5.0M 1.81
Vantage Drilling Company ord (VTGDF) 0.3 $7.6M 3.8M 2.03
Paragon Shipping 0.3 $7.2M 2.1M 3.43
Cadence Design Sys Inc 1.5 12- convert 0.2 $6.4M 6.8M 0.94
Ciena Corp note 0.250% 5/0 0.2 $5.5M 6.0M 0.92
Level 3 Communications 0.2 $5.1M 5.2M 0.98
Jetblue Airways Corp dbcv 6.750%10/1 0.1 $4.1M 2.6M 1.59
Crystallex Intl Cad 0.1 $2.9M 9.2M 0.31
Pantry Inc note 3.000%11/1 0.1 $2.9M 3.0M 0.97
General Mtrs Co jr pfd cnv srb 0.1 $2.7M 50k 54.12
Ldk Solar Co Ltd note 4.750% 4/1 0.1 $2.5M 2.6M 0.99
Quantum Corporation 0.1 $2.0M 525k 3.72
Cray 0.1 $1.6M 230k 7.17
Ual Corp dbcv 5.000% 2/0 0.0 $1.1M 1.1M 1.00
Anglogold Ashanti Holdings Fin pfd cv 0.0 $1.1M 20k 55.45
Peabody Energy Corporation 0.0 $761k 12k 63.95
Volcano Corporation note 2.875% 9/0 0.0 $870k 750k 1.16
JetBlue Airways Corporation (JBLU) 0.0 $430k 65k 6.62
Nexen 0.0 $435k 19k 22.89
tw tele 0.0 $494k 29k 17.03
ICO Global Communications (ICOG) 0.0 $473k 315k 1.50
Bridgepoint Education 0.0 $570k 30k 19.00
Carnival Corp dbcv 4/2 0.0 $180k 269k 0.67
Progressive Corporation (PGR) 0.0 $348k 18k 19.89
Transocean (RIG) 0.0 $348k 5.0k 69.60
Lockheed Martin Corporation (LMT) 0.0 $210k 3.0k 70.00
SandRidge Energy 0.0 $404k 55k 7.32
Teekay Shipping Marshall Isl (TK) 0.0 $397k 12k 33.08
CONSOL Energy 0.0 $361k 7.4k 48.78
Seaspan Corp 0.0 $342k 28k 12.44
Globalstar (GSAT) 0.0 $261k 180k 1.45
Evergreen Energy 0.0 $237k 364k 0.65
Amgen Inc note 3/0 0.0 $37k 48k 0.77