CAMDEN ASSET MANAGEMENT L P /CA

Los Angeles, CA · CIK 903944 · 13F filing filed 2026-08-12

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)

$3.4bn reported value +16.7% vs Q1 2026

73positions

36.7%in top 10

26 new 13 added 25 reduced 22 sold out vs Q1 2026

Holdings, Q2 2026

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	AKAMAI TECHNOLOGIES INC NOTE 0.250% 5/1 · principal AKAM 0.25 05.15.33 · principal	AKAM 0.25 05.15.33	118,770,000	$173.2m5.04%	5.04%	New
2	FIRSTENERGY CORP NOTE 3.625% 1/1 · principal FE 3.625 01.15.29 · principal	FE 3.625 01.15.29	148,122,000	$161.7m4.71%	4.71%	New
3	NEXTERA ENERGY CAP HLDGS INC NOTE 3.000% 3/0 · principal NEE 3 03.01.27 · principal	NEE 3 03.01.27	112,340,000	$147.6m4.30%	4.30%	Reduced -33.1m	-33,135,000 -22.8%
4	BOEING CO DEP CONV PFD A BA 6 10.15.27	BA 6 10.15.27	2,150,000	$145.7m4.24%	4.24%	New
5	ALPHABET INC DEP SHS RP1/20 B GOOGL 6.25 05.15.29 B	GOOGL 6.25 05.15.29 B	2,637,759	$132.3m3.85%	3.85%	New
6	UBER TECHNOLOGIES INC NOTE 0.875%12/0 · principal UBER 0.875 12.01.28 2028 · principal	UBER 0.875 12.01.28 2028	90,735,000	$108.5m3.16%	3.16%	Reduced -6.4m	-6,374,000 -6.6%
7	CLOUDFLARE INC NOTE 6/1 · principal NET 0 06.15.30 · principal	NET 0 06.15.30	83,676,000	$105.9m3.08%	3.08%	New
8	BRIDGEBIO PHARMA INC NOTE 1.750% 3/0 · principal BBIO 1.75 03.01.31 · principal	BBIO 1.75 03.01.31	60,600,000	$101.9m2.97%	2.97%	New
9	BANK AMERICA CORP 7.25%CNV PFD L BAC 7.25 PERP L	BAC 7.25 PERP L	79,488	$99.7m2.90%	2.90%	Added +7.6k	+7,626 10.6%
10	DOORDASH INC NOTE 5/1 · principal DASH 0 05.15.30 · principal	DASH 0 05.15.30	84,000,000	$82.7m2.41%	2.41%	New
11	WORLD KINECT CORPORATION NOTE 3.250% 7/0 · principal WKC 3.25 07.01.28 · principal	WKC 3.25 07.01.28	61,350,000	$79.1m2.30%	2.30%	Reduced -2.5m	-2,500,000 -3.9%
12	EVERGY INC NOTE 4.500%12/1 · principal EVRG 4.5 12.15.27 · principal	EVRG 4.5 12.15.27	55,601,000	$79.1m2.30%	2.30%	Reduced -2.0m	-2,013,000 -3.5%
13	UPWORK INC NOTE 0.250% 8/1 · principal UPWK 0.25 08.15.26 · principal	UPWK 0.25 08.15.26	79,023,000	$78.2m2.28%	2.28%	Unchanged
14	ARROWHEAD PHARMACEUTICALS IN NOTE 1/1 · principal ARWR 0 01.15.32 · principal	ARWR 0 01.15.32	64,283,000	$76.7m2.23%	2.23%	Added +18.8m	+18,783,000 41.3%
15	ETSY INC NOTE 1.000% 6/1 · principal ETSY 1 06.15.30 · principal	ETSY 1 06.15.30	65,500,000	$75.9m2.21%	2.21%	New
16	WEC ENERGY GROUP INC NOTE 4.375% 6/0 · principal WEC 4.375 06.01.27 · principal	WEC 4.375 06.01.27	62,161,000	$75.2m2.19%	2.19%	Reduced -83.5m	-83,482,000 -57.3%
17	PPL CORP UNIT 02/15/2029 PPL 7 02.15.29	PPL 7 02.15.29	1,530,000	$74.6m2.17%	2.17%	Reduced -250.0k	-250,000 -14.0%
18	NUTANIX INC NOTE 0.500%12/1 · principal NTNX 0.5 12.15.29 · principal	NTNX 0.5 12.15.29	65,928,000	$64.8m1.89%	1.89%	Added +2.0m	+2,000,000 3.1%
19	DEXCOM INC NOTE 0.375% 5/1 · principal DXCM 0.375 05.15.28 · principal	DXCM 0.375 05.15.28	68,531,000	$63.9m1.86%	1.86%	Reduced -6.5m	-6,519,000 -8.7%
20	TELADOC HEALTH INC NOTE 1.250% 6/0 · principal TDOC 1.25 06.01.27 · principal	TDOC 1.25 06.01.27	62,641,000	$60.7m1.77%	1.77%	Unchanged
21	SOUTHERN CO UNIT 12/15/2028 SO 7.125 12.15.28 A	SO 7.125 12.15.28 A	1,152,900	$57.5m1.68%	1.68%	Added +605.0k	+605,000 110.4%
22	SNOWFLAKE INC NOTE 10/0 · principal SNOW 0 10.01.29 · principal	SNOW 0 10.01.29	32,176,000	$56.9m1.66%	1.66%	Reduced -10.5m	-10,500,000 -24.6%
23	LIVE NATION ENTERTAINMENT IN NOTE 3.125% 1/1 · principal LYV 3.125 01.15.29 · principal	LYV 3.125 01.15.29	30,475,000	$54.3m1.58%	1.58%	Added +2.5m	+2,500,000 8.9%
24	ALLIANT ENERGY CORP NOTE 3.250% 5/3 · principal LNT 3.25 05.30.28 · principal	LNT 3.25 05.30.28	48,634,000	$53.5m1.56%	1.56%	New
25	EL PASO ENERGY CAP TR I PFD CV TR SEC 28 KMI 4.75 03.31.28	KMI 4.75 03.31.28	1,061,328	$53.4m1.56%	1.56%	Reduced -130.0k	-130,000 -10.9%
26	INNOVIVA INC NOTE 2.125% 3/1 · principal INVA 2.125 03.15.28 · principal	INVA 2.125 03.15.28	49,052,000	$52.5m1.53%	1.53%	Added +8.0m	+8,000,000 19.5%
27	MERIT MED SYS INC NOTE 3.000% 2/0 · principal MMSI 3 02.01.29 · principal	MMSI 3 02.01.29	48,300,000	$51.9m1.51%	1.51%	New
28	CHEESECAKE FACTORY INC NOTE 2.000% 3/1 · principal CAKE 2 03.15.30 · principal	CAKE 2 03.15.30	38,066,000	$48.4m1.41%	1.41%	Reduced -20.6m	-20,634,000 -35.1%
29	BIOMARIN PHARMACEUTICAL INC NOTE 1.250% 5/1 · principal BMRN 1.25 05.15.27 · principal	BMRN 1.25 05.15.27	46,325,000	$45.0m1.31%	1.31%	New
30	ANI PHARMACEUTICALS INC NOTE 2.250% 9/0 · principal ANIP 2.25 09.01.29 · principal	ANIP 2.25 09.01.29	34,017,000	$44.1m1.28%	1.28%	Reduced -6.5m	-6,500,000 -16.0%
31	UNITY SOFTWARE INC NOTE 11/1 · principal U 0 11.15.26 · principal	U 0 11.15.26	44,877,000	$44.0m1.28%	1.28%	Unchanged
32	GOLAR LNG LTD NOTE 2.750%12/1 · principal GLNG 2.75 12.15.30 · principal	GLNG 2.75 12.15.30	38,500,000	$43.8m1.28%	1.28%	New
33	LANTHEUS HLDGS INC NOTE 2.625%12/1 · principal LNTH 2.625 12.15.27 · principal	LNTH 2.625 12.15.27	29,953,000	$43.4m1.27%	1.27%	Reduced -8.0m	-7,966,000 -21.0%
34	CHEFS WHSE INC NOTE 2.375%12/1 · principal CHEF 2.375 12.15.28 · principal	CHEF 2.375 12.15.28	19,397,000	$43.3m1.26%	1.26%	Unchanged
35	ORACLE CORP 6.5 DEP CUM SR D ORCL 6.5 01.15.29 D	ORCL 6.5 01.15.29 D	933,000	$41.9m1.22%	1.22%	Added +123.0k	+123,000 15.2%
36	IMMUNOCORE HLDGS PLC NOTE 2.500% 2/0 · principal IMCR 2.5 02.01.30 · principal	IMCR 2.5 02.01.30	44,459,000	$40.7m1.18%	1.18%	Added +1.7m	+1,731,000 4.0%
37	NEXTERA ENERGY INC UNIT 02/15/2029 NEE 7.375 02.15.29	NEE 7.375 02.15.29	830,000	$39.5m1.15%	1.15%	Reduced -675.0k	-675,000 -44.9%
38	FIRSTENERGY CORP NOTE 3.875% 1/1 · principal FE 3.875 01.15.31 · principal	FE 3.875 01.15.31	35,370,000	$39.3m1.14%	1.14%	New
39	NEXTERA ENERGY INC UNIT 11/01/2027 NEE 7.234 11.01.27	NEE 7.234 11.01.27	780,000	$39.3m1.14%	1.14%	New
40	ENVISTA HOLDINGS CORPORATION NOTE 1.750% 8/1 · principal NVST 1.75 08.15.28 · principal	NVST 1.75 08.15.28	38,490,000	$38.5m1.12%	1.12%	Added +15.4m	+15,450,000 67.1%
41	SOUTHERN CO NOTE 3.250% 6/1 · principal SO 3.25 06.15.28 · principal	SO 3.25 06.15.28	36,013,000	$36.4m1.06%	1.06%	New
42	CELCUITY INC NOTE 0.250% 8/0 · principal CELC 0.25 08.01.32 · principal	CELC 0.25 08.01.32	31,500,000	$35.8m1.04%	1.04%	New
43	LEMAITRE VASCULAR INC NOTE 2.500% 2/0 · principal LMAT 2.5 02.01.30 · principal	LMAT 2.5 02.01.30	31,500,000	$33.3m0.97%	0.97%	New
44	VISHAY INTERTECHNOLOGY INC NOTE 2.250% 9/1 · principal VSH 2.25 09.15.30 · principal	VSH 2.25 09.15.30	14,355,000	$28.5m0.83%	0.83%	Reduced -7.8m	-7,750,000 -35.1%
45	FLUOR CORP NOTE 1.125% 8/1 · principal FLR 1.125 08.15.29 · principal	FLR 1.125 08.15.29	20,659,000	$27.3m0.80%	0.80%	Added +3.3m	+3,309,000 19.1%
46	CRACKER BARREL OLD CTRY STOR NOTE 1.750% 9/1 · principal CBRL 1.75 09.15.30 · principal	CBRL 1.75 09.15.30	26,650,000	$27.2m0.79%	0.79%	New
47	ETSY INC NOTE 0.125% 9/0 · principal ETSY 0.125 09.01.27 · principal	ETSY 0.125 09.01.27	22,737,000	$21.5m0.63%	0.63%	New
48	JAZZ INVESTMENTS I LTD NOTE 3.125% 9/1 · principal JAZZ 3.125 09.15.30 · principal	JAZZ 3.125 09.15.30	12,000,000	$20.4m0.60%	0.60%	Reduced -2.5m	-2,500,000 -17.2%
49	ENPHASE ENERGY INC NOTE 3/0 · principal ENPH 0 03.01.28 · principal	ENPH 0 03.01.28	21,279,000	$19.8m0.58%	0.58%	Unchanged
50	ALARM COM HLDGS INC NOTE 2.250% 6/0 · principal ALRM 2.25 06.01.29 · principal	ALRM 2.25 06.01.29	20,471,000	$19.4m0.56%	0.56%	Unchanged
51	ITRON INC NOTE 1.375% 7/1 · principal ITRI 1.375 07.15.30 · principal	ITRI 1.375 07.15.30	18,655,000	$18.6m0.54%	0.54%	Added +9.5m	+9,516,000 104.1%
52	BOX INC NOTE 1.500% 9/1 · principal BOX 1.5 09.15.29 · principal	BOX 1.5 09.15.29	17,500,000	$17.1m0.50%	0.50%	Reduced -7.5m	-7,500,000 -30.0%
53	ETSY INC NOTE 0.250% 6/1 · principal ETSY 0.25 06.15.28 · principal	ETSY 0.25 06.15.28	18,215,000	$16.6m0.48%	0.48%	Reduced -52.5m	-52,500,000 -74.2%
54	MERITAGE HOMES CORP NOTE 1.750% 5/1 · principal MTH 1.75 05.15.28 · principal	MTH 1.75 05.15.28	15,922,000	$16.4m0.48%	0.48%	New
55	PARSONS CORP DEL NOTE 2.625% 3/0 · principal PSN 2.625 03.01.29 · principal	PSN 2.625 03.01.29	16,600,000	$16.3m0.48%	0.48%	New
56	ZIFF DAVIS INC DEBT 3.625% 3/0 · principal ZD 3.625 03.01.28 · principal	ZD 3.625 03.01.28	15,701,000	$15.6m0.46%	0.46%	Unchanged
57	WINNEBAGO INDS INC NOTE 3.250% 1/1 · principal WGO 3.25 01.15.30 · principal	WGO 3.25 01.15.30	16,548,000	$15.3m0.45%	0.45%	Reduced -3.0m	-3,000,000 -15.3%
58	AMPHASTAR PHARMACEUTICALS IN NOTE 2.000% 3/1 · principal AMPH 2 03.15.29 · principal	AMPH 2 03.15.29	15,327,000	$13.9m0.41%	0.41%	Reduced -26.5m	-26,500,000 -63.4%
59	GUIDEWIRE SOFTWARE INC NOTE 1.250%11/0 · principal GWRE 1.25 11.01.29 · principal	GWRE 1.25 11.01.29	14,244,000	$13.7m0.40%	0.40%	New
60	EPR PPTYS PFD C CV 5.75% EPR 5.75 PERP C	EPR 5.75 PERP C	526,931	$13.5m0.39%	0.39%	Unchanged
61	WELLS FARGO CO NEW PERP PFD CNV A WFC 7.5 PERP L	WFC 7.5 PERP L	10,594	$12.3m0.36%	0.36%	Added +9.5k	+9,539 904.2%
62	ALPHABET INC DEP SHS RP1/20 A GOOGL 6.25 05.15.29 A	GOOGL 6.25 05.15.29 A	221,895	$11.1m0.32%	0.32%	New
63	EVOLENT HEALTH INC NOTE 3.500%12/0 · principal EVH 3.5 12.01.29 · principal	EVH 3.5 12.01.29	14,554,000	$10.8m0.31%	0.31%	Reduced -4.5m	-4,500,000 -23.6%
64	SPECTRUM BRANDS INC NOTE 3.375% 6/0 · principal SPB 3.375 06.01.29 · principal	SPB 3.375 06.01.29	8,612,000	$9.0m0.26%	0.26%	New
65	NEXTERA ENERGY INC UNIT 06/01/2027 NEE 7.299 06.01.27	NEE 7.299 06.01.27	150,000	$8.0m0.23%	0.23%	New
66	EVOLENT HEALTH INC DEBT 4.500% 8/1 · principal DEBT 4.500% 8/1 · principal		9,357,000	$7.4m0.22%	0.22%	Reduced -4.6m	-4,600,000 -33.0%
67	AMC NETWORKS INC NOTE 4.250% 2/1 · principal AMCX 4.25 02.15.29 * · principal	AMCX 4.25 02.15.29 *	6,600,000	$7.0m0.20%	0.20%	Reduced -7.0m	-7,000,000 -51.5%
68	EPR PPTYS CONV PFD 9% SR E EPR 9 PERP E	EPR 9 PERP E	197,382	$6.4m0.19%	0.19%	Unchanged
69	CONMED CORP NOTE 2.250% 6/1 · principal CNMD 2.25 06.15.27 · principal	CNMD 2.25 06.15.27	5,000,000	$4.9m0.14%	0.14%	Reduced -64.3m	-64,300,000 -92.8%
70	XEROX HOLDINGS CORP NOTE 3.750% 3/1 · principal XRX 3.75 03.15.30 · principal	XRX 3.75 03.15.30	12,650,000	$4.3m0.13%	0.13%	Reduced -35.0m	-35,000,000 -73.5%
71	HAEMONETICS CORP MASS NOTE 2.500% 6/0 · principal HAE 2.5 06.01.29 · principal	HAE 2.5 06.01.29	3,800,000	$3.8m0.11%	0.11%	Reduced -42.5m	-42,500,000 -91.8%
72	WEC ENERGY GROUP INC NOTE 3.375% 6/0 · principal WEC 3.375 06.01.28 · principal	WEC 3.375 06.01.28	3,123,000	$3.2m0.09%	0.09%	New
73	XEROX HOLDINGS CORP *W EXP 02/11/202 · principal XRXDW · principal	XRXDW	362,328	$00.00%	0.00%	Added +362.2k	+362,210 306957.6%

Sold out since Q1 2026

Security	Ticker	Shares held before	Value then
VENTAS RLTY LTD PARTNERSHIP VTR 3.75 06.01.26	VTR 3.75 06.01.26	88,455,000	$131.5m88.5m shares
OKTA INC OKTA 0.375 06.15.26	OKTA 0.375 06.15.26	119,519,000	$118.3m119.5m shares
AMERICAN WTR CAP CORP AWK 3.625 06.15.26	AWK 3.625 06.15.26	88,970,000	$88.8m89.0m shares
ON SEMICONDUCTOR CORP ON 0.5 03.01.29	ON 0.5 03.01.29	90,371,000	$88.3m90.4m shares
DIGITALOCEAN HLDGS INC DOCN 0 12.01.26	DOCN 0 12.01.26	60,251,000	$58.7m60.3m shares
BLOCK INC XYZ 0 05.01.26	XYZ 0 05.01.26	44,359,000	$44.2m44.4m shares
TETRA TECH INC NEW TTEK 2.25 08.15.28	TTEK 2.25 08.15.28	34,901,000	$36.5m34.9m shares
JOHN BEAN TECHNOLOGIES CORP JBTM 0.25 05.15.26	JBTM 0.25 05.15.26	32,865,000	$32.7m32.9m shares
SOUTHERN CO SO 4.5 06.15.27	SO 4.5 06.15.27	23,270,000	$25.8m23.3m shares
PINNACLE WEST CAP CORP PNW 4.75 06.15.27	PNW 4.75 06.15.27	16,938,000	$19.4m16.9m shares
INTEGER HLDGS CORP ITGR 1.875 03.15.30	ITGR 1.875 03.15.30	20,125,000	$19.2m20.1m shares
PEBBLEBROOK HOTEL TR PEB 1.75 12.15.26	PEB 1.75 12.15.26	19,085,000	$18.6m19.1m shares
BRIDGEBIO PHARMA INC BBIO 2.5 03.15.27	BBIO 2.5 03.15.27	7,170,000	$12.9m7.2m shares
LIVANOVA PLC LIVN 2.5 03.15.29	LIVN 2.5 03.15.29	10,000,000	$11.6m10.0m shares
BOEING CO BA	BA	40,300	$8.0m40.3k shares
MARRIOTT VACATIONS WORLDWIDE VAC 3.25 12.15.27	VAC 3.25 12.15.27	8,000,000	$7.7m8.0m shares
LCI INDS LCII 1.125 05.15.26	LCII 1.125 05.15.26	7,500,000	$7.5m7.5m shares
MICROCHIP TECHNOLOGY INC. MCHP 0.75 06.01.30	MCHP 0.75 06.01.30	7,500,000	$7.4m7.5m shares
RAPID7 INC RPD 1.25 03.15.29	RPD 1.25 03.15.29	7,090,000	$5.9m7.1m shares
WEC ENERGY GROUP INC WEC 4.375 06.01.29	WEC 4.375 06.01.29	3,000,000	$3.7m3.0m shares
PPL CAP FDG INC PPL 2.875 03.15.28	PPL 2.875 03.15.28	1,000,000	$1.2m1.0m shares
CORE SCIENTIFIC INC NEW CORZW	CORZW	769,504	$0769.5k shares