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  <headerData>
    <submissionType>13F-HR/A</submissionType>
    <filerInfo>
      <liveTestFlag>LIVE</liveTestFlag>
      <flags>
        <confirmingCopyFlag>false</confirmingCopyFlag>
        <returnCopyFlag>true</returnCopyFlag>
        <overrideInternetFlag>false</overrideInternetFlag>
      </flags>
      <filer>
        <credentials>
          <cik>0001133521</cik>
          <ccc>XXXXXXXX</ccc>
        </credentials>
      </filer>
      <periodOfReport>06-30-2013</periodOfReport>
    </filerInfo>
  </headerData>
  <formData>
    <coverPage>
      <reportCalendarOrQuarter>06-30-2013</reportCalendarOrQuarter>
      <isAmendment>true</isAmendment>
      <amendmentNo>1</amendmentNo>
      <amendmentInfo>
        <amendmentType>RESTATEMENT</amendmentType>
      </amendmentInfo>
      <filingManager>
        <name>Steelhead Partners LLC</name>
        <address>
          <ns1:street1>333 108th Avenue NE</ns1:street1>
          <ns1:street2>Suite 2010</ns1:street2>
          <ns1:city>Bellevue</ns1:city>
          <ns1:stateOrCountry>WA</ns1:stateOrCountry>
          <ns1:zipCode>98004</ns1:zipCode>
        </address>
      </filingManager>
      <reportType>13F HOLDINGS REPORT</reportType>
      <form13FFileNumber>028-06101</form13FFileNumber>
      <provideInfoForInstruction5>Y</provideInfoForInstruction5>
      <additionalInformation>We are amending our 13F Report for the quarter ending June 30, 2013 which was filed on August 14, 2013.  This amendment is being filed to correct the Information Table.  In the August 14, 2013 filing, our holdings entry that was listed for Resolute Forest Products, Inc. ("RFP") did not include certain number of RFP shares which were not available to the reporting manager at the time.</additionalInformation>
    </coverPage>
    <signatureBlock>
      <name>J. Michael Johnston</name>
      <title>Managing Member</title>
      <phone>425-974-3788</phone>
      <signature>/s/ J. Michael Johnston</signature>
      <city>Bellevue</city>
      <stateOrCountry>WA</stateOrCountry>
      <signatureDate>09-24-2013</signatureDate>
    </signatureBlock>
    <summaryPage>
      <otherIncludedManagersCount>0</otherIncludedManagersCount>
      <tableEntryTotal>113</tableEntryTotal>
      <tableValueTotal>1114592</tableValueTotal>
      <isConfidentialOmitted>false</isConfidentialOmitted>
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