CAMDEN ASSET MANAGEMENT L P /CA

Los Angeles, CA · CIK 903944 · 13F filing filed 2023-08-11

SEC-registered investment adviser since 1991 · limited partnership

Assets managed$11.2bn
Staff19 · 5 in investment roles
Main clients (by assets)Private funds 66%, Companies 20%, Pension plans 14%
Private funds14 (14 hedge) · $7.4bn gross assets
Websitecamdenasset.com
Form ADV · 2026-06-23SEC adviser record

Legal entityCAMDEN ASSET MANAGEMENT L.P. (US)

$2.9bn reported value -3.6% vs Q1 2023

92positions

35.3%in top 10

4 new 47 added 26 reduced 13 sold out vs Q1 2023

Holdings, Q2 2023

The small lines show how much was held over the last 4 quarters (adjusted for stock splits).

#	Security	Ticker	Shares	Value	% of portfolio	Change	Shares change
1	FORD MTR CO DEL NOTE 3/1 · principal F 0 03.15.26 · principal	F 0 03.15.26	141,325,000	$154.8m5.37%	5.37%	Added +4.0m	+4,000,000 2.9%
2	NEXTERA ENERGY INC UNIT 09/01/2023 NEE 6.219 09.01.23	NEE 6.219 09.01.23	2,687,225	$131.2m4.55%	4.55%	Added +713.0k	+713,000 36.1%
3	AIRBNB INC NOTE 3/1 · principal ABNB 0 03.15.26 · principal	ABNB 0 03.15.26	146,191,000	$127.5m4.42%	4.42%	Added +9.0m	+9,000,000 6.6%
4	SPOTIFY USA INC NOTE 3/1 · principal SPOT 0 03.15.26 · principal	SPOT 0 03.15.26	123,637,000	$105.0m3.64%	3.64%	Added +5.5m	+5,500,000 4.7%
5	AMERICAN AIRLINES GROUP INC NOTE 6.500% 7/0 · principal AAL 6.5 07.01.25 · principal	AAL 6.5 07.01.25	73,584,000	$94.3m3.27%	3.27%	Added +5.0m	+5,000,000 7.3%
6	SNAP INC NOTE 5/0 · principal SNAP 0 05.01.27 · principal	SNAP 0 05.01.27	112,800,000	$83.5m2.90%	2.90%	Reduced -500.0k	-500,000 -0.4%
7	BANK AMERICA CORP 7.25%CNV PFD L BAC 7.25 PERP L	BAC 7.25 PERP L	70,648	$82.8m2.87%	2.87%	Reduced -22.0k	-21,990 -23.7%
8	INTERDIGITAL INC NOTE 3.500% 6/0 · principal IDCC 3.5 06.01.27 · principal	IDCC 3.5 06.01.27	60,933,000	$82.1m2.85%	2.85%	New
9	AMERICAN ELEC PWR CO INC UNIT 08/15/2023 AEP 6.125 08.15.23	AEP 6.125 08.15.23	1,590,000	$78.6m2.73%	2.73%	Added +640.0k	+640,000 67.4%
10	UNITY SOFTWARE INC NOTE 11/1 · principal U 0 11.15.26 · principal	U 0 11.15.26	97,937,000	$78.2m2.71%	2.71%	Reduced -7.5m	-7,500,000 -7.1%
11	OKTA INC NOTE 0.375% 6/1 · principal OKTA 0.375 06.15.26 · principal	OKTA 0.375 06.15.26	88,841,000	$75.8m2.63%	2.63%	Reduced -6.0m	-5,975,000 -6.3%
12	WELLS FARGO CO NEW PERP PFD CNV A WFC 7.5 PERP L	WFC 7.5 PERP L	57,427	$66.2m2.30%	2.30%	Added +3.8k	+3,839 7.2%
13	HALOZYME THERAPEUTICS INC NOTE 0.250% 3/0 · principal HALO 0.25 03.01.27 · principal	HALO 0.25 03.01.27	77,523,000	$64.4m2.23%	2.23%	Added +30.4m	+30,400,000 64.5%
14	CINEMARK HLDGS INC NOTE 4.500% 8/1 · principal CNK 4.5 08.15.25 · principal	CNK 4.5 08.15.25	45,913,000	$62.6m2.17%	2.17%	Reduced -6.5m	-6,500,000 -12.4%
15	INNOVIVA INC NOTE 2.500% 8/1 · principal INVA 2.5 08.15.25 · principal	INVA 2.5 08.15.25	61,528,000	$60.8m2.11%	2.11%	Reduced -6.7m	-6,675,000 -9.8%
16	STRIDE INC NOTE 1.125% 9/0 · principal LRN 1.125 09.01.27 · principal	LRN 1.125 09.01.27	61,221,000	$58.5m2.03%	2.03%	Added +15.5m	+15,500,000 33.9%
17	DIGITALOCEAN HLDGS INC NOTE 12/0 · principal DOCN 0 12.01.26 · principal	DOCN 0 12.01.26	71,150,000	$55.6m1.93%	1.93%	Reduced -1.5m	-1,500,000 -2.1%
18	NRG ENERGY INC DBCV 2.750% 6/0 · principal NRG 2.75 06.01.48 · principal	NRG 2.75 06.01.48	50,582,000	$53.4m1.85%	1.85%	Reduced -44.2m	-44,186,000 -46.6%
19	SHOPIFY INC NOTE 0.125%11/0 · principal SHOPCN 0.125 11.01.25 · principal	SHOPCN 0.125 11.01.25	57,250,000	$51.9m1.80%	1.80%	Added +7.0m	+7,000,000 13.9%
20	IRONWOOD PHARMACEUTICALS INC NOTE 1.500% 6/1 · principal IRWD 1.5 06.15.26 · principal	IRWD 1.5 06.15.26	50,246,000	$51.3m1.78%	1.78%	Added +4.8m	+4,823,000 10.6%
21	PEBBLEBROOK HOTEL TR NOTE 1.750%12/1 · principal PEB 1.75 12.15.26 · principal	PEB 1.75 12.15.26	60,022,000	$50.7m1.76%	1.76%	Added +7.8m	+7,831,000 15.0%
22	UPWORK INC NOTE 0.250% 8/1 · principal UPWK 0.25 08.15.26 · principal	UPWK 0.25 08.15.26	60,273,000	$48.8m1.69%	1.69%	Reduced -2.5m	-2,500,000 -4.0%
23	PARSONS CORP DEL NOTE 0.250% 8/1 · principal PSN 0.25 08.15.25 · principal	PSN 0.25 08.15.25	41,735,000	$47.8m1.66%	1.66%	Added +1.5m	+1,500,000 3.7%
24	LUMENTUM HLDGS INC NOTE 0.500%12/1 · principal LITE 0.5 12.15.26 · principal	LITE 0.5 12.15.26	53,311,000	$47.0m1.63%	1.63%	Reduced -2.8m	-2,800,000 -5.0%
25	SPLUNK INC NOTE 1.125% 6/1 · principal SPLK 1.125 06.15.27 · principal	SPLK 1.125 06.15.27	51,116,000	$44.1m1.53%	1.53%	Added +2.4m	+2,350,000 4.8%
26	BLOCK INC NOTE 5/0 · principal XYZ 0 05.01.26 · principal	XYZ 0 05.01.26	51,359,000	$42.4m1.47%	1.47%	Added +4.0m	+3,990,000 8.4%
27	DAYFORCE INC NOTE 0.250% 3/1 · principal DAY 0.25 03.15.26 · principal	DAY 0.25 03.15.26	46,427,000	$40.8m1.42%	1.42%	Added +5.3m	+5,275,000 12.8%
28	ETSY INC NOTE 0.250% 6/1 · principal ETSY 0.25 06.15.28 · principal	ETSY 0.25 06.15.28	52,193,000	$40.2m1.39%	1.39%	Added +4.5m	+4,500,000 9.4%
29	BLACKLINE INC NOTE 3/1 · principal BL 0 03.15.26 · principal	BL 0 03.15.26	46,475,000	$39.3m1.36%	1.36%	Added +400.0k	+400,000 0.9%
30	SHIFT4 PMTS INC NOTE 0.500% 8/0 · principal FOUR 0.5 08.01.27 · principal	FOUR 0.5 08.01.27	43,525,000	$38.4m1.33%	1.33%	Added +4.0m	+4,000,000 10.1%
31	JOHN BEAN TECHNOLOGIES CORP NOTE 0.250% 5/1 · principal JBTM 0.25 05.15.26 · principal	JBTM 0.25 05.15.26	40,334,000	$38.3m1.33%	1.33%	Added +6.9m	+6,929,000 20.7%
32	CHEESECAKE FACTORY INC NOTE 0.375% 6/1 · principal CAKE 0.375 06.15.26 · principal	CAKE 0.375 06.15.26	45,020,000	$37.8m1.31%	1.31%	Added +3.8m	+3,763,000 9.1%
33	EXACT SCIENCES CORP NOTE 0.375% 3/0 · principal EXAS 0.375 03.01.28 · principal	EXAS 0.375 03.01.28	33,575,000	$34.4m1.19%	1.19%	Added +2.5m	+2,500,000 8.1%
34	PAR TECHNOLOGY CORP NOTE 2.875% 4/1 · principal PAR 2.875 04.15.26 · principal	PAR 2.875 04.15.26	32,150,000	$34.1m1.18%	1.18%	Added +1.0m	+1,000,000 3.2%
35	CRACKER BARREL OLD CTRY STOR NOTE 0.625% 6/1 · principal CBRL 0.625 06.15.26 · principal	CBRL 0.625 06.15.26	40,128,000	$34.0m1.18%	1.18%	Added +2.0m	+2,000,000 5.2%
36	PERFICIENT INC NOTE 0.125%11/1 · principal PRFT 0.125 11.15.26 · principal	PRFT 0.125 11.15.26	41,041,000	$33.7m1.17%	1.17%	Added +2.0m	+2,000,000 5.1%
37	3D SYS CORP DEL NOTE 11/1 · principal DDD 0 11.15.26 · principal	DDD 0 11.15.26	38,470,000	$29.1m1.01%	1.01%	New
38	LCI INDS NOTE 1.125% 5/1 · principal LCII 1.125 05.15.26 · principal	LCII 1.125 05.15.26	28,575,000	$27.5m0.95%	0.95%	Added +2.5m	+2,500,000 9.6%
39	MIDDLEBY CORP NOTE 1.000% 9/0 · principal MIDD 1 09.01.25 · principal	MIDD 1 09.01.25	21,700,000	$26.9m0.93%	0.93%	Reduced -17.0m	-17,000,000 -43.9%
40	WAYFAIR INC NOTE 1.000% 8/1 · principal W 1 08.15.26 · principal	W 1 08.15.26	31,224,000	$25.7m0.89%	0.89%	Reduced -19.9m	-19,925,000 -39.0%
41	FIVE9 INC NOTE 0.500% 6/0 · principal FIVN 0.5 06.01.25 · principal	FIVN 0.5 06.01.25	23,770,000	$22.9m0.79%	0.79%	Reduced -5.5m	-5,500,000 -18.8%
42	ALTERYX INC NOTE 1.000% 8/0 · principal AYX 1 08.01.26 · principal	AYX 1 08.01.26	25,119,000	$21.0m0.73%	0.73%	Added +5.0m	+5,000,000 24.9%
43	DROPBOX INC NOTE 3/0 · principal DBX 0 03.01.26 · principal	DBX 0 03.01.26	21,850,000	$20.6m0.71%	0.71%	Added +1.5m	+1,500,000 7.4%
44	HCI GROUP INC NOTE 4.250% 3/0 · principal HCI 4.25 03.01.37 · principal	HCI 4.25 03.01.37	18,957,000	$20.5m0.71%	0.71%	Added +584.0k	+584,000 3.2%
45	ALARM COM HLDGS INC NOTE 1/1 · principal ALRM 0 01.15.26 · principal	ALRM 0 01.15.26	23,600,000	$20.1m0.70%	0.70%	Unchanged
46	SHAKE SHACK INC NOTE 3/0 · principal SHAK 0 03.01.28 · principal	SHAK 0 03.01.28	24,680,000	$20.0m0.69%	0.69%	Added +3.0m	+3,000,000 13.8%
47	DISH NETWORK CORPORATION NOTE 12/1 · principal DISH 0 12.15.25 · principal	DISH 0 12.15.25	37,775,000	$20.0m0.69%	0.69%	Added +2.5m	+2,500,000 7.1%
48	JAZZ INVESTMENTS I LTD NOTE 1.500% 8/1 · principal JAZZ 1.5 08.15.24 · principal	JAZZ 1.5 08.15.24	19,945,000	$19.0m0.66%	0.66%	Unchanged
49	VISHAY INTERTECHNOLOGY INC NOTE 2.250% 6/1 · principal VSH 2.25 06.15.25 · principal	VSH 2.25 06.15.25	17,155,000	$18.8m0.65%	0.65%	Reduced -10.5m	-10,500,000 -38.0%
50	HCI GROUP INC NOTE 4.750% 6/0 · principal HCI 4.75 06.01.42 · principal	HCI 4.75 06.01.42	19,050,000	$18.7m0.65%	0.65%	New
51	UBER TECHNOLOGIES INC NOTE 12/1 · principal UBER 0 12.15.25 · principal	UBER 0 12.15.25	20,000,000	$18.2m0.63%	0.63%	Reduced -29.0m	-28,952,000 -59.1%
52	CABLE ONE INC NOTE 3/1 · principal CABO 0 03.15.26 · principal	CABO 0 03.15.26	21,725,000	$17.8m0.62%	0.62%	Reduced -4.5m	-4,500,000 -17.2%
53	SUMMIT HOTEL PPTYS NOTE 1.500% 2/1 · principal INN 1.5 02.15.26 · principal	INN 1.5 02.15.26	20,434,000	$17.4m0.60%	0.60%	Added +1.0m	+1,000,000 5.2%
54	EL PASO ENERGY CAP TR I PFD CV TR SEC 28 KMI 4.75 03.31.28	KMI 4.75 03.31.28	355,939	$16.5m0.57%	0.57%	Added +175.9k	+175,913 97.7%
55	NCL CORP LTD NOTE 2.500% 2/1 · principal NCLH 2.5 02.15.27 · principal	NCLH 2.5 02.15.27	15,665,000	$14.8m0.51%	0.51%	Reduced -7.7m	-7,650,000 -32.8%
56	WINNEBAGO INDS INC NOTE 1.500% 4/0 · principal WGO 1.5 04.01.25 · principal	WGO 1.5 04.01.25	12,050,000	$14.4m0.50%	0.50%	Added +3.5m	+3,500,000 40.9%
57	TELADOC HEALTH INC NOTE 1.250% 6/0 · principal TDOC 1.25 06.01.27 · principal	TDOC 1.25 06.01.27	16,500,000	$13.1m0.46%	0.46%	Added +50.0k	+50,000 0.3%
58	CABLE ONE INC NOTE 1.125% 3/1 · principal CABO 1.125 03.15.28 · principal	CABO 1.125 03.15.28	17,221,000	$13.0m0.45%	0.45%	Added +50.0k	+50,000 0.3%
59	PAR TECHNOLOGY CORP NOTE 1.500%10/1 · principal PAR 1.5 10.15.27 · principal	PAR 1.5 10.15.27	15,993,000	$12.6m0.44%	0.44%	Unchanged
60	OAK STR HEALTH INC NOTE 3/1 · principal OSH 0 03.15.26 · principal	OSH 0 03.15.26	12,550,000	$12.5m0.43%	0.43%	Reduced -10.0m	-10,000,000 -44.4%
61	FASTLY INC NOTE 3/1 · principal FSLY 0 03.15.26 · principal	FSLY 0 03.15.26	14,450,000	$11.9m0.41%	0.41%	Unchanged
62	EVENTBRITE INC NOTE 0.750% 9/1 · principal EB 0.75 09.15.26 · principal	EB 0.75 09.15.26	14,595,000	$11.9m0.41%	0.41%	Reduced -1.5m	-1,500,000 -9.3%
63	CHEGG INC NOTE 9/0 · principal CHGG 0 09.01.26 · principal	CHGG 0 09.01.26	14,500,000	$10.9m0.38%	0.38%	Added +4.5m	+4,500,000 45.0%
64	MARRIOTT VACATIONS WORLDWIDE NOTE 1/1 · principal VAC 0 01.15.26 · principal	VAC 0 01.15.26	11,225,000	$10.4m0.36%	0.36%	Added +7.5m	+7,550,000 205.4%
65	GOPRO INC NOTE 1.250%11/1 · principal GPRO 1.25 11.15.25 · principal	GPRO 1.25 11.15.25	11,100,000	$9.8m0.34%	0.34%	Unchanged
66	EPR PPTYS PFD C CV 5.75% EPR 5.75 PERP C	EPR 5.75 PERP C	467,632	$9.8m0.34%	0.34%	Added +6.2k	+6,164 1.3%
67	EPR PPTYS CONV PFD 9% SR E EPR 9 PERP E	EPR 9 PERP E	249,646	$6.8m0.24%	0.24%	Added +5.7k	+5,671 2.3%
68	NCL CORP LTD NOTE 1.125% 2/1 · principal NCLH 1.125 02.15.27 · principal	NCLH 1.125 02.15.27	7,100,000	$6.5m0.23%	0.23%	Reduced -33.0m	-33,000,000 -82.3%
69	AMYRIS INC NOTE 1.500%11/1 · principal AMRS 1.5 11.15.26 · principal	AMRS 1.5 11.15.26	34,650,000	$6.4m0.22%	0.22%	Added +2.5m	+2,500,000 7.8%
70	NEOGENOMICS INC NOTE 0.250% 1/1 · principal NEO 0.25 01.15.28 · principal	NEO 0.25 01.15.28	8,000,000	$5.8m0.20%	0.20%	Reduced -4.0m	-4,000,000 -33.3%
71	TECHTARGET INC NOTE 12/1 · principal TTGT 0 12.15.26 · principal	TTGT 0 12.15.26	7,250,000	$5.7m0.20%	0.20%	Reduced -8.5m	-8,500,000 -54.0%
72	AKAMAI TECHNOLOGIES INC NOTE 0.375% 9/0 · principal AKAM 0.375 09.01.27 · principal	AKAM 0.375 09.01.27	4,875,000	$4.7m0.16%	0.16%	Added +75.0k	+75,000 1.6%
73	TYLER TEX INDPT SCH DIST NOTE 0.250% 3/1 · principal TYL 0.25 03.15.26 · principal	TYL 0.25 03.15.26	4,385,000	$4.5m0.16%	0.16%	Unchanged
74	IONIS PHARMACEUTICALS INC NOTE 4/0 · principal IONS 0 04.01.26 · principal	IONS 0 04.01.26	4,650,000	$4.4m0.15%	0.15%	Unchanged
75	GRANITE CONSTR INC NOTE 2.750%11/0 · principal GVA 2.75 11.01.24 · principal	GVA 2.75 11.01.24	3,200,000	$4.2m0.15%	0.15%	Reduced -11.1m	-11,117,000 -77.7%
76	LUMENTUM HLDGS INC NOTE 0.250% 3/1 · principal LITE 0.25 03.15.24 · principal	LITE 0.25 03.15.24	4,000,000	$4.2m0.15%	0.15%	Added +1.5m	+1,500,000 60.0%
77	DROPBOX INC NOTE 3/0 · principal DBX 0 03.01.28 · principal	DBX 0 03.01.28	3,950,000	$3.8m0.13%	0.13%	Unchanged
78	JAZZ INVESTMENTS I LTD NOTE 2.000% 6/1 · principal JAZZ 2 06.15.26 · principal	JAZZ 2 06.15.26	3,500,000	$3.6m0.12%	0.12%	New
79	ITRON INC NOTE 3/1 · principal ITRI 0 03.15.26 · principal	ITRI 0 03.15.26	3,625,000	$3.2m0.11%	0.11%	Added +75.0k	+75,000 2.1%
80	INNOVIVA INC NOTE 2.125% 3/1 · principal INVA 2.125 03.15.28 · principal	INVA 2.125 03.15.28	3,225,000	$2.6m0.09%	0.09%	Reduced -22.3m	-22,334,000 -87.4%
81	SPLUNK INC NOTE 1.125% 9/1 · principal SPLK 1.125 09.15.25 · principal	SPLK 1.125 09.15.25	2,550,000	$2.5m0.09%	0.09%	Unchanged
82	RINGCENTRAL INC NOTE 3/1 · principal RNG 0 03.15.26 · principal	RNG 0 03.15.26	2,924,000	$2.4m0.08%	0.08%	Reduced -11.5m	-11,538,000 -79.8%
83	BENTLEY SYS INC NOTE 0.125% 1/1 · principal BSY 0.125 01.15.26 · principal	BSY 0.125 01.15.26	2,000,000	$2.1m0.07%	0.07%	Unchanged
84	GREENBRIER COS INC NOTE 2.875% 2/0 · principal GBX 2.875 02.01.24 · principal	GBX 2.875 02.01.24	2,025,000	$2.0m0.07%	0.07%	Unchanged
85	BURLINGTON STORES INC NOTE 2.250% 4/1 · principal BURL 2.25 04.15.25 · principal	BURL 2.25 04.15.25	1,775,000	$1.8m0.06%	0.06%	Added +50.0k	+50,000 2.9%
86	KAMAN CORP NOTE 3.250% 5/0 · principal KAMN 3.25 05.01.24 · principal	KAMN 3.25 05.01.24	1,550,000	$1.5m0.05%	0.05%	Unchanged
87	INTEGRA LIFESCIENCES HLDGS C NOTE 0.500% 8/1 · principal IART 0.5 08.15.25 · principal	IART 0.5 08.15.25	1,600,000	$1.5m0.05%	0.05%	Added +1.2m	+1,250,000 357.1%
88	ENVESTNET INC NOTE 0.750% 8/1 · principal ENV 0.75 08.15.25 · principal	ENV 0.75 08.15.25	1,450,000	$1.3m0.05%	0.05%	Added +50.0k	+50,000 3.6%
89	VERINT SYSTEMS INC NOTE 0.250% 4/1 · principal VRNT 0.25 04.15.26 · principal	VRNT 0.25 04.15.26	1,500,000	$1.3m0.05%	0.05%	Unchanged
90	PROGRESS SOFTWARE CORP NOTE 1.000% 4/1 · principal PRGS 1 04.15.26 · principal	PRGS 1 04.15.26	1,186,000	$1.3m0.05%	0.05%	Reduced -1.1m	-1,089,000 -47.9%
91	BIORA THERAPEUTICS INC NOTE 7.250%12/0 · principal BIOR 7.25 12.01.25 · principal	BIOR 7.25 12.01.25	2,425,000	$1.3m0.04%	0.04%	Unchanged
92	GREENBRIER COS INC NOTE 2.875% 4/1 · principal GBX 2.875 04.15.28 · principal	GBX 2.875 04.15.28	1,200,000	$1.2m0.04%	0.04%	Unchanged

Sold out since Q1 2023

Security	Ticker	Shares held before	Value then
BECTON DICKINSON & CO BDX 6 06.01.23 B	BDX 6 06.01.23 B	1,308,400	$65.2m1.3m shares
NISOURCE INC NI 7.75 03.01.24	NI 7.75 03.01.24	555,675	$57.8m555.7k shares
PURE STORAGE INC PSTG 0.125 04.15.23	PSTG 0.125 04.15.23	38,617,000	$39.2m38.6m shares
NEW RELIC INC NEWR 0.5 05.01.23	NEWR 0.5 05.01.23	30,431,000	$30.3m30.4m shares
TURNING PT BRANDS INC TPB 2.5 07.15.24	TPB 2.5 07.15.24	18,692,000	$17.5m18.7m shares
RAPID7 INC RPD 0.25 03.15.27	RPD 0.25 03.15.27	13,275,000	$11.5m13.3m shares
ARRAY TECHNOLOGIES INC ARRY 1 12.01.28	ARRY 1 12.01.28	9,400,000	$10.4m9.4m shares
FUBOTV INC FUBO 3.25 02.15.26	FUBO 3.25 02.15.26	17,339,000	$7.2m17.3m shares
NATIONAL VISION HLDGS INC EYE 2.5 05.15.25	EYE 2.5 05.15.25	6,500,000	$6.2m6.5m shares
PATRICK INDS INC PATK 1.75 12.01.28	PATK 1.75 12.01.28	4,877,000	$4.4m4.9m shares
NEW YORK CMNTY CAP TR V FLG 6 11.01.51	FLG 6 11.01.51	96,123	$3.7m96.1k shares
HERBALIFE NUTRITION LTD HLF 2.625 03.15.24	HLF 2.625 03.15.24	2,634,000	$2.5m2.6m shares
BOX INC BOX 0 01.15.26	BOX 0 01.15.26	1,000,000	$1.2m1.0m shares