CAMDEN ASSET MANAGEMENT L P /CA

Los Angeles, CA · CIK 903944 · 13F filing filed 2024-08-13

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)

$3.3bn reported value +20.4% vs Q1 2024

94positions

32.2%in top 10

17 new 30 added 28 reduced 9 sold out vs Q1 2024

Holdings, Q2 2024

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	AIRBNB INC NOTE 3/1 · principal ABNB 0 03.15.26 · principal	ABNB 0 03.15.26	166,504,000	$151.9m4.59%	4.59%	Added +34.7m	+34,663,000 26.3%
2	DUKE ENERGY CORP NEW NOTE 4.125% 4/1 · principal DUK 4.125 04.15.26 · principal	DUK 4.125 04.15.26	135,393,000	$135.0m4.08%	4.08%	New
3	VENTAS RLTY LTD PARTNERSHIP NOTE 3.750% 6/0 · principal VTR 3.75 06.01.26 · principal	VTR 3.75 06.01.26	103,600,000	$108.7m3.29%	3.29%	New
4	SPOTIFY USA INC NOTE 3/1 · principal SPOT 0 03.15.26 · principal	SPOT 0 03.15.26	111,942,000	$106.5m3.22%	3.22%	Reduced -2.5m	-2,500,000 -2.2%
5	DEXCOM INC NOTE 0.375% 5/1 · principal DXCM 0.375 05.15.28 · principal	DXCM 0.375 05.15.28	105,175,000	$102.8m3.11%	3.11%	New
6	INTERDIGITAL INC NOTE 3.500% 6/0 · principal IDCC 3.5 06.01.27 · principal	IDCC 3.5 06.01.27	64,683,000	$100.0m3.02%	3.02%	Added +2.5m	+2,500,000 4.0%
7	FORD MTR CO DEL NOTE 3/1 · principal F 0 03.15.26 · principal	F 0 03.15.26	98,588,000	$99.5m3.01%	3.01%	Reduced -41.5m	-41,455,000 -29.6%
8	SNAP INC NOTE 5/0 · principal SNAP 0 05.01.27 · principal	SNAP 0 05.01.27	108,150,000	$89.8m2.72%	2.72%	Added +10.0m	+10,000,000 10.2%
9	AMERICAN AIRLINES GROUP INC NOTE 6.500% 7/0 · principal AAL 6.5 07.01.25 · principal	AAL 6.5 07.01.25	83,784,000	$86.6m2.62%	2.62%	Added +8.8m	+8,800,000 11.7%
10	PPL CAP FDG INC NOTE 2.875% 3/1 · principal PPL 2.875 03.15.28 · principal	PPL 2.875 03.15.28	86,635,000	$82.9m2.51%	2.51%	Reduced -48.9m	-48,867,000 -36.1%
11	ENVESTNET INC NOTE 2.625%12/0 · principal ENV 2.625 12.01.27 · principal	ENV 2.625 12.01.27	77,058,000	$82.6m2.50%	2.50%	Added +11.9m	+11,950,000 18.4%
12	STRIDE INC NOTE 1.125% 9/0 · principal LRN 1.125 09.01.27 · principal	LRN 1.125 09.01.27	57,282,000	$82.0m2.48%	2.48%	Unchanged
13	BANK AMERICA CORP 7.25%CNV PFD L BAC 7.25 PERP L	BAC 7.25 PERP L	63,285	$75.8m2.29%	2.29%	Added +19.0k	+19,022 43.0%
14	MARRIOTT VACATIONS WORLDWIDE NOTE 3.250%12/1 · principal VAC 3.25 12.15.27 · principal	VAC 3.25 12.15.27	79,275,000	$72.1m2.18%	2.18%	Added +5.5m	+5,500,000 7.5%
15	HALOZYME THERAPEUTICS INC NOTE 0.250% 3/0 · principal HALO 0.25 03.01.27 · principal	HALO 0.25 03.01.27	74,673,000	$71.2m2.15%	2.15%	Reduced -3.0m	-3,000,000 -3.9%
16	CINEMARK HLDGS INC NOTE 4.500% 8/1 · principal CNK 4.5 08.15.25 · principal	CNK 4.5 08.15.25	41,813,000	$66.1m2.00%	2.00%	Added +4.0m	+4,000,000 10.6%
17	FIRSTENERGY CORP NOTE 4.000% 5/0 · principal FE 4 05.01.26 · principal	FE 4 05.01.26	66,785,000	$66.1m2.00%	2.00%	New
18	UPWORK INC NOTE 0.250% 8/1 · principal UPWK 0.25 08.15.26 · principal	UPWK 0.25 08.15.26	73,273,000	$65.0m1.97%	1.97%	Unchanged
19	CMS ENERGY CORP NOTE 3.375% 5/0 · principal CMS 3.375 05.01.28 · principal	CMS 3.375 05.01.28	58,910,000	$57.6m1.74%	1.74%	New
20	GRANITE CONSTR INC NOTE 3.750% 5/1 · principal GVA 3.75 05.15.28 · principal	GVA 3.75 05.15.28	37,539,000	$54.4m1.65%	1.65%	New
21	OKTA INC NOTE 0.375% 6/1 · principal OKTA 0.375 06.15.26 · principal	OKTA 0.375 06.15.26	56,489,000	$51.6m1.56%	1.56%	Unchanged
22	DAYFORCE INC NOTE 0.250% 3/1 · principal DAY 0.25 03.15.26 · principal	DAY 0.25 03.15.26	54,427,000	$49.6m1.50%	1.50%	Unchanged
23	HALOZYME THERAPEUTICS INC NOTE 1.000% 8/1 · principal HALO 1 08.15.28 · principal	HALO 1 08.15.28	43,463,000	$48.3m1.46%	1.46%	Added +13.0m	+13,000,000 42.7%
24	PEBBLEBROOK HOTEL TR NOTE 1.750%12/1 · principal PEB 1.75 12.15.26 · principal	PEB 1.75 12.15.26	52,263,000	$46.1m1.39%	1.39%	Unchanged
25	SHOPIFY INC NOTE 0.125%11/0 · principal SHOPCN 0.125 11.01.25 · principal	SHOPCN 0.125 11.01.25	49,400,000	$46.1m1.39%	1.39%	Added +5.0m	+5,000,000 11.3%
26	DIGITALOCEAN HLDGS INC NOTE 12/0 · principal DOCN 0 12.01.26 · principal	DOCN 0 12.01.26	52,650,000	$44.4m1.34%	1.34%	Added +8.0m	+8,000,000 17.9%
27	ARBOR REALTY TRUST INC NOTE 7.500% 8/0 · principal ABR 7.5 08.01.25 · principal	ABR 7.5 08.01.25	41,945,000	$41.9m1.27%	1.27%	Added +4.5m	+4,500,000 12.0%
28	UNITY SOFTWARE INC NOTE 11/1 · principal U 0 11.15.26 · principal	U 0 11.15.26	47,907,000	$41.3m1.25%	1.25%	Unchanged
29	LUMENTUM HLDGS INC NOTE 1.500%12/1 · principal LITE 1.5 12.15.29 · principal	LITE 1.5 12.15.29	41,050,000	$39.9m1.21%	1.21%	New
30	ETSY INC NOTE 0.250% 6/1 · principal ETSY 0.25 06.15.28 · principal	ETSY 0.25 06.15.28	49,990,000	$39.3m1.19%	1.19%	Added +16.0m	+16,000,000 47.1%
31	ALTAIR ENGR INC NOTE 1.750% 6/1 · principal ALTR 1.75 06.15.27 · principal	ALTR 1.75 06.15.27	26,460,000	$38.5m1.16%	1.16%	Reduced -500.0k	-500,000 -1.9%
32	ZIFF DAVIS INC NOTE 1.750%11/0 · principal ZD 1.75 11.01.26 · principal	ZD 1.75 11.01.26	40,650,000	$37.8m1.14%	1.14%	Reduced -6.2m	-6,250,000 -13.3%
33	JOHN BEAN TECHNOLOGIES CORP NOTE 0.250% 5/1 · principal JBTM 0.25 05.15.26 · principal	JBTM 0.25 05.15.26	39,379,000	$36.1m1.09%	1.09%	Unchanged
34	EL PASO ENERGY CAP TR I PFD CV TR SEC 28 KMI 4.75 03.31.28	KMI 4.75 03.31.28	753,738	$35.7m1.08%	1.08%	Added +11.8k	+11,832 1.6%
35	ON SEMICONDUCTOR CORP NOTE 0.500% 3/0 · principal ON 0.5 03.01.29 · principal	ON 0.5 03.01.29	36,968,000	$35.4m1.07%	1.07%	Reduced -15.0m	-15,000,000 -28.9%
36	EXPEDIA GROUP INC NOTE 2/1 · principal EXPE 0 02.15.26 · principal	EXPE 0 02.15.26	38,050,000	$34.9m1.06%	1.06%	New
37	CORE SCIENTIFIC INC NEW NOTE 10.000% 1/2 · principal CORZ 12 01.23.29 · principal	CORZ 12 01.23.29	21,115,702	$34.4m1.04%	1.04%	New
38	BLOCK INC NOTE 5/0 · principal XYZ 0 05.01.26 · principal	XYZ 0 05.01.26	37,609,000	$33.7m1.02%	1.02%	Reduced -8.8m	-8,825,000 -19.0%
39	CRACKER BARREL OLD CTRY STOR NOTE 0.625% 6/1 · principal CBRL 0.625 06.15.26 · principal	CBRL 0.625 06.15.26	37,646,000	$33.3m1.01%	1.01%	Reduced -2.6m	-2,607,000 -6.5%
40	LIVE NATION ENTERTAINMENT IN NOTE 3.125% 1/1 · principal LYV 3.125 01.15.29 · principal	LYV 3.125 01.15.29	29,975,000	$33.1m1.00%	1.00%	Added +3.5m	+3,500,000 13.2%
41	CHEFS WHSE INC NOTE 2.375%12/1 · principal CHEF 2.375 12.15.28 · principal	CHEF 2.375 12.15.28	26,897,000	$29.8m0.90%	0.90%	Reduced -2.0m	-2,000,000 -6.9%
42	PATRICK INDS INC NOTE 1.750%12/0 · principal PATK 1.75 12.01.28 · principal	PATK 1.75 12.01.28	24,522,000	$29.7m0.90%	0.90%	Unchanged
43	NEXTERA ENERGY INC UNIT 06/01/2027 NEE 7.299 06.01.27	NEE 7.299 06.01.27	600,000	$29.5m0.89%	0.89%	New
44	SHAKE SHACK INC NOTE 3/0 · principal SHAK 0 03.01.28 · principal	SHAK 0 03.01.28	33,028,000	$28.6m0.86%	0.86%	Unchanged
45	IONIS PHARMACEUTICALS INC NOTE 1.750% 6/1 · principal IONS 1.75 06.15.28 · principal	IONS 1.75 06.15.28	25,025,000	$27.5m0.83%	0.83%	New
46	NUTANIX INC NOTE 0.250%10/0 · principal NTNX 0.25 10.01.27 · principal	NTNX 0.25 10.01.27	23,120,000	$27.0m0.82%	0.82%	Reduced -6.4m	-6,360,000 -21.6%
47	TELADOC HEALTH INC NOTE 1.250% 6/0 · principal TDOC 1.25 06.01.27 · principal	TDOC 1.25 06.01.27	29,950,000	$24.8m0.75%	0.75%	Added +13.0m	+13,000,000 76.7%
48	LUMENTUM HLDGS INC NOTE 0.500%12/1 · principal LITE 0.5 12.15.26 · principal	LITE 0.5 12.15.26	25,561,000	$23.0m0.70%	0.70%	Reduced -7.5m	-7,500,000 -22.7%
49	WOLFSPEED INC NOTE 1.875%12/0 · principal WOLF 1.875 12.01.29 · principal	WOLF 1.875 12.01.29	41,775,000	$23.0m0.70%	0.70%	Reduced -13.0m	-13,000,000 -23.7%
50	WAYFAIR INC NOTE 3.250% 9/1 · principal W 3.25 09.15.27 · principal	W 3.25 09.15.27	19,725,000	$22.7m0.69%	0.69%	New
51	APOLLO GLOBAL MGMT INC SER A MAND CNV APO 6.75 07.31.26	APO 6.75 07.31.26	342,500	$22.5m0.68%	0.68%	Reduced -235.0k	-235,000 -40.7%
52	INNOVIVA INC NOTE 2.500% 8/1 · principal INVA 2.5 08.15.25 · principal	INVA 2.5 08.15.25	19,565,000	$21.5m0.65%	0.65%	Reduced -7.2m	-7,225,000 -27.0%
53	LCI INDS NOTE 1.125% 5/1 · principal LCII 1.125 05.15.26 · principal	LCII 1.125 05.15.26	22,500,000	$21.1m0.64%	0.64%	Added +1.5m	+1,500,000 7.1%
54	IONIS PHARMACEUTICALS INC NOTE 4/0 · principal IONS 0 04.01.26 · principal	IONS 0 04.01.26	20,475,000	$21.1m0.64%	0.64%	Reduced -2.5m	-2,500,000 -10.9%
55	CHEESECAKE FACTORY INC NOTE 0.375% 6/1 · principal CAKE 0.375 06.15.26 · principal	CAKE 0.375 06.15.26	22,795,000	$20.6m0.62%	0.62%	Added +2.0m	+2,000,000 9.6%
56	LANTHEUS HLDGS INC NOTE 2.625%12/1 · principal LNTH 2.625 12.15.27 · principal	LNTH 2.625 12.15.27	16,500,000	$20.5m0.62%	0.62%	Added +1.5m	+1,500,000 10.0%
57	PERFICIENT INC NOTE 0.125%11/1 · principal PRFT 0.125 11.15.26 · principal	PRFT 0.125 11.15.26	20,541,000	$19.9m0.60%	0.60%	Reduced -26.5m	-26,500,000 -56.3%
58	HCI GROUP INC NOTE 4.750% 6/0 · principal HCI 4.75 06.01.42 · principal	HCI 4.75 06.01.42	15,245,000	$19.8m0.60%	0.60%	Unchanged
59	PAR TECHNOLOGY CORP NOTE 2.875% 4/1 · principal PAR 2.875 04.15.26 · principal	PAR 2.875 04.15.26	12,700,000	$16.1m0.49%	0.49%	Unchanged
60	ORMAT TECHNOLOGIES INC NOTE 2.500% 7/1 · principal ORA 2.5 07.15.27 · principal	ORA 2.5 07.15.27	15,410,000	$15.2m0.46%	0.46%	Added +4.0m	+4,000,000 35.1%
61	SOLAREDGE TECHNOLOGIES INC NOTE 9/1 · principal SEDG 0 09.15.25 · principal	SEDG 0 09.15.25	16,540,000	$15.1m0.46%	0.46%	Added +3.5m	+3,500,000 26.8%
62	POST HLDGS INC NOTE 2.500% 8/1 · principal POST 2.5 08.15.27 · principal	POST 2.5 08.15.27	13,567,000	$14.9m0.45%	0.45%	Added +2.0m	+1,957,000 16.9%
63	BLOCK INC NOTE 0.250%11/0 · principal XYZ 0.25 11.01.27 · principal	XYZ 0.25 11.01.27	17,500,000	$14.5m0.44%	0.44%	Added +15.0m	+15,000,000 600.0%
64	BLOOM ENERGY CORP NOTE 3.000% 6/0 · principal BE 3 06.01.28 · principal	BE 3 06.01.28	14,825,000	$14.3m0.43%	0.43%	New
65	DROPBOX INC NOTE 3/0 · principal DBX 0 03.01.26 · principal	DBX 0 03.01.26	15,350,000	$14.3m0.43%	0.43%	Reduced -2.5m	-2,500,000 -14.0%
66	WELLS FARGO CO NEW PERP PFD CNV A WFC 7.5 PERP L	WFC 7.5 PERP L	12,000	$14.3m0.43%	0.43%	Added +3.0k	+3,000 33.3%
67	EVENTBRITE INC NOTE 0.750% 9/1 · principal EB 0.75 09.15.26 · principal	EB 0.75 09.15.26	16,345,000	$14.0m0.42%	0.42%	Added +3.2m	+3,250,000 24.8%
68	INNOVIVA INC NOTE 2.125% 3/1 · principal INVA 2.125 03.15.28 · principal	INVA 2.125 03.15.28	14,402,000	$12.9m0.39%	0.39%	Added +3.0m	+3,000,000 26.3%
69	CONMED CORP NOTE 2.250% 6/1 · principal CNMD 2.25 06.15.27 · principal	CNMD 2.25 06.15.27	13,600,000	$12.1m0.37%	0.37%	Added +7.5m	+7,500,000 123.0%
70	SOUTHERN CO NOTE 3.875%12/1 · principal SO 3.875 12.15.25 · principal	SO 3.875 12.15.25	11,323,000	$11.6m0.35%	0.35%	Reduced -1.5m	-1,500,000 -11.7%
71	IRONWOOD PHARMACEUTICALS INC NOTE 1.500% 6/1 · principal IRWD 1.5 06.15.26 · principal	IRWD 1.5 06.15.26	11,851,000	$11.1m0.34%	0.34%	Added +3.2m	+3,200,000 37.0%
72	EPR PPTYS PFD C CV 5.75% EPR 5.75 PERP C	EPR 5.75 PERP C	546,740	$10.4m0.32%	0.32%	Unchanged
73	NEXTERA ENERGY INC COM NEE	NEE	138,319	$9.8m0.30%	0.30%	Reduced -310.8k	-310,795 -69.2%
74	SUMMIT HOTEL PPTYS NOTE 1.500% 2/1 · principal INN 1.5 02.15.26 · principal	INN 1.5 02.15.26	10,711,000	$9.6m0.29%	0.29%	Reduced -4.5m	-4,500,000 -29.6%
75	UBER TECHNOLOGIES INC NOTE 12/1 · principal UBER 0 12.15.25 · principal	UBER 0 12.15.25	8,650,000	$9.3m0.28%	0.28%	New
76	CABLE ONE INC NOTE 1.125% 3/1 · principal CABO 1.125 03.15.28 · principal	CABO 1.125 03.15.28	11,771,000	$8.7m0.26%	0.26%	Unchanged
77	EXACT SCIENCES CORP NOTE 0.375% 3/1 · principal EXAS 0.375 03.15.27 · principal	EXAS 0.375 03.15.27	10,000,000	$8.7m0.26%	0.26%	Reduced -1.0m	-1,000,000 -9.1%
78	ALARM COM HLDGS INC NOTE 1/1 · principal ALRM 0 01.15.26 · principal	ALRM 0 01.15.26	9,400,000	$8.6m0.26%	0.26%	Reduced -5.0m	-5,000,000 -34.7%
79	PAR TECHNOLOGY CORP NOTE 1.500%10/1 · principal PAR 1.5 10.15.27 · principal	PAR 1.5 10.15.27	8,493,000	$7.9m0.24%	0.24%	Unchanged
80	WINNEBAGO INDS INC NOTE 1.500% 4/0 · principal WGO 1.5 04.01.25 · principal	WGO 1.5 04.01.25	7,715,000	$7.8m0.24%	0.24%	Added +4.4m	+4,365,000 130.3%
81	ENPHASE ENERGY INC NOTE 3/0 · principal ENPH 0 03.01.28 · principal	ENPH 0 03.01.28	8,500,000	$7.0m0.21%	0.21%	New
82	WAYFAIR INC NOTE 3.500%11/1 · principal W 3.5 11.15.28 · principal	W 3.5 11.15.28	5,000,000	$6.9m0.21%	0.21%	New
83	TRIPADVISOR INC NOTE 0.250% 4/0 · principal TRIP 0.25 04.01.26 · principal	TRIP 0.25 04.01.26	6,875,000	$6.3m0.19%	0.19%	Reduced -2.0m	-2,000,000 -22.5%
84	EPR PPTYS CONV PFD 9% SR E EPR 9 PERP E	EPR 9 PERP E	197,041	$5.4m0.16%	0.16%	Reduced -59.5k	-59,500 -23.2%
85	CABLE ONE INC NOTE 3/1 · principal CABO 0 03.15.26 · principal	CABO 0 03.15.26	5,725,000	$5.0m0.15%	0.15%	Reduced -3.0m	-3,000,000 -34.4%
86	BENTLEY SYS INC NOTE 0.375% 7/0 · principal BSY 0.375 07.01.27 · principal	BSY 0.375 07.01.27	5,012,000	$4.5m0.14%	0.14%	Added +3.0m	+3,012,000 150.6%
87	DROPBOX INC NOTE 3/0 · principal DBX 0 03.01.28 · principal	DBX 0 03.01.28	4,350,000	$4.0m0.12%	0.12%	Unchanged
88	BURLINGTON STORES INC NOTE 2.250% 4/1 · principal BURL 2.25 04.15.25 · principal	BURL 2.25 04.15.25	3,025,000	$3.6m0.11%	0.11%	Reduced -175.0k	-175,000 -5.5%
89	AKAMAI TECHNOLOGIES INC NOTE 0.375% 9/0 · principal AKAM 0.375 09.01.27 · principal	AKAM 0.375 09.01.27	3,650,000	$3.5m0.11%	0.11%	Unchanged
90	ALNYLAM PHARMACEUTICALS INC NOTE 1.000% 9/1 · principal ALNY 1 09.15.27 · principal	ALNY 1 09.15.27	3,000,000	$3.2m0.10%	0.10%	Unchanged
91	TYLER TEX INDPT SCH DIST NOTE 0.250% 3/1 · principal TYL 0.25 03.15.26 · principal	TYL 0.25 03.15.26	2,760,000	$3.0m0.09%	0.09%	Reduced -2.5m	-2,500,000 -47.5%
92	SOUTHWEST AIRLS CO NOTE 1.250% 5/0 · principal LUV 1.25 05.01.25 · principal	LUV 1.25 05.01.25	1,750,000	$1.8m0.05%	0.05%	Unchanged
93	MIDDLEBY CORP NOTE 1.000% 9/0 · principal MIDD 1 09.01.25 · principal	MIDD 1 09.01.25	1,500,000	$1.6m0.05%	0.05%	Unchanged
94	CORE SCIENTIFIC INC NEW *W EXP 01/23/202 · principal CORZW · principal	CORZW	495,177	$00.00%	0.00%	New

Sold out since Q1 2024

Security	Ticker	Shares held before	Value then
GEO CORRECTIONS HOLDINGS INC GEO 6.5 02.23.26	GEO 6.5 02.23.26	39,545,000	$67.8m39.5m shares
BLACKLINE INC BL 0 03.15.26	BL 0 03.15.26	44,555,000	$40.3m44.6m shares
NRG ENERGY INC NRG 2.75 06.01.48	NRG 2.75 06.01.48	11,717,000	$19.4m11.7m shares
EXACT SCIENCES CORP EXAS 0.375 03.01.28	EXAS 0.375 03.01.28	17,195,000	$15.9m17.2m shares
MODEL N INC MODN 1.875 03.15.28	MODN 1.875 03.15.28	14,875,000	$14.3m14.9m shares
WAYFAIR INC W 1 08.15.26	W 1 08.15.26	13,824,000	$12.8m13.8m shares
GRANITE CONSTR INC GVA 2.75 11.01.24	GVA 2.75 11.01.24	3,200,000	$5.8m3.2m shares
VERINT SYSTEMS INC VRNT 0.25 04.15.26	VRNT 0.25 04.15.26	1,575,000	$1.5m1.6m shares
ZILLOW GROUP INC Z 2.75 05.15.25	Z 2.75 05.15.25	1,275,000	$1.3m1.3m shares